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Keenan Capital, LLC

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13F filer, CIK 1647363, BURLINGAME, CA

Keenan Capital, LLC reported $549,005,142 across 9 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-26-000341

Period
2025-12-31
Reported value
$549M
Holdings
9
Top 10 weight
100%
New
2
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CWANnew+3,660,973$88.3M
ARXnew+3,139,980$51.3M
GDDYadded+51,500$6.39M
WDAYadded+26,960$5.79M
GLBEadded+95,988$3.77M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
MERIDIANLINK INCexited-2,815,242-$56.1M
JAMFreduced-1,991,125-$25.9M
APPreduced-28,985-$19.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001420506-26-000341, largest first. % of portfolio is the value over $549,005,142, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
APPAPPLOVIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 562,290 shares; 2024Q4: 179,727 shares; 2025Q1: 265,510 shares; 2025Q2: 266,510 shares; 2025Q3: 205,710 shares; 2025Q4: 176,725 shares 176,725$119M21.69%-28,985Timeline
CWANCLEARWATER ANALYTICS HLDGS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,660,973 shares 3,660,973$88.3M16.08%newTimeline
GLBEGLOBAL E ONLINE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,298,117 shares; 2024Q4: 1,292,274 shares; 2025Q1: 1,597,274 shares; 2025Q2: 1,769,274 shares; 2025Q3: 1,769,274 shares; 2025Q4: 1,865,262 shares 1,865,262$73.3M13.36%+95,988Timeline
WDAYWORKDAY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 214,179 shares; 2024Q4: 244,281 shares; 2025Q1: 244,281 shares; 2025Q2: 244,281 shares; 2025Q3: 292,281 shares; 2025Q4: 319,241 shares 319,241$68.6M12.49%+26,960Timeline
GDDYGODADDY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 470,652 shares; 2024Q4: 468,531 shares; 2025Q1: 468,531 shares; 2025Q2: 468,531 shares; 2025Q3: 493,531 shares; 2025Q4: 545,031 shares 545,031$67.6M12.32%+51,500Timeline
DTDYNATRACE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,065,072 shares; 2024Q4: 1,060,279 shares; 2025Q1: 1,060,279 shares; 2025Q2: 1,060,279 shares; 2025Q3: 1,450,534 shares; 2025Q4: 1,450,534 shares 1,450,534$62.9M11.45%0Timeline
ARXACCELERANT HOLDINGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,139,980 shares 3,139,980$51.3M9.35%newTimeline
JAMFJAMF HOLDING CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,899,398 shares; 2024Q4: 2,591,125 shares; 2025Q1: 2,591,125 shares; 2025Q2: 2,591,125 shares; 2025Q3: 3,111,125 shares; 2025Q4: 1,120,000 shares 1,120,000$14.6M2.65%-1,991,125Timeline
SAILSAILPOINT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 164,515 shares; 2025Q2: 164,515 shares; 2025Q3: 164,515 shares; 2025Q4: 164,515 shares 164,515$3.33M0.61%0Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MERIDIANLINK INCMERIDIANLINK INC2,815,242$56.1Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001420506-26-000341 base2026-02-13acceptance time not in the bulk data set