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Nine Ten Capital Management LLC

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13F filer, CIK 1635236, CHICAGO, IL

Nine Ten Capital Management LLC reported $315,831,000 across 8 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-26-000473

Period
2025-12-31
Reported value
$316M
Holdings
8
Top 10 weight
100%
New
0
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
GPGIadded+295,592$5.7M
MGNIadded+145,000$2.35M

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
SAPIENS INTERNATIONAL CORPexited-1,149,230-$49.4M
IRMDreduced-342,907-$33.4M
RHLDreduced-33,797-$6.98M
SNEXreduced-20,000-$1.9M
WINAreduced-229-$92.7K

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 0001420506-26-000473, largest first. % of portfolio is the value over $315,831,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MGNIMAGNITE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,621,866 shares; 2024Q4: 3,115,849 shares; 2025Q1: 2,734,830 shares; 2025Q2: 2,858,583 shares; 2025Q3: 2,858,583 shares; 2025Q4: 3,003,583 shares 3,003,583$48.7M15.43%+145,000Timeline
GPGIGPGI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 908,328 shares; 2025Q1: 1,729,359 shares; 2025Q2: 2,094,005 shares; 2025Q3: 2,123,312 shares; 2025Q4: 2,418,904 shares 2,418,904$46.6M14.77%+295,592Timeline
CLBTCELLEBRITE DI LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,326,798 shares; 2024Q4: 3,605,604 shares; 2025Q1: 1,999,034 shares; 2025Q2: 2,121,534 shares; 2025Q3: 2,479,727 shares; 2025Q4: 2,479,727 shares 2,479,727$44.7M14.16%0Timeline
AGYSAGILYSYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 249,460 shares; 2024Q4: 158,139 shares; 2025Q1: 300,239 shares; 2025Q2: 363,239 shares; 2025Q3: 363,239 shares; 2025Q4: 363,239 shares 363,239$43.2M13.67%0Timeline
IRMDIRADIMED CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 905,926 shares; 2024Q4: 905,926 shares; 2025Q1: 872,003 shares; 2025Q2: 872,003 shares; 2025Q3: 771,384 shares; 2025Q4: 428,477 shares 428,477$41.7M13.2%-342,907Timeline
SNEXSTONEX GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 470,491 shares; 2024Q4: 389,491 shares; 2025Q1: 512,486 shares; 2025Q2: 443,986 shares; 2025Q3: 417,486 shares; 2025Q4: 397,486 shares 397,486$37.8M11.97%-20,000Timeline
WINAWINMARK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 79,500 shares; 2024Q4: 83,900 shares; 2025Q1: 83,900 shares; 2025Q2: 83,900 shares; 2025Q3: 83,900 shares; 2025Q4: 83,671 shares 83,671$33.9M10.73%-229Timeline
RHLDRESOLUTE HLDGS MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 131,196 shares; 2025Q2: 131,196 shares; 2025Q3: 126,777 shares; 2025Q4: 92,980 shares 92,980$19.2M6.08%-33,797Timeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
SAPIENS INTERNATIONAL CORPSAPIENS INTERNATIONAL CORP1,149,230$49.4Mshares

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 0001420506-26-000473 base2026-02-17acceptance time not in the bulk data set