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Sunriver Management LLC

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13F filer, CIK 1663900, GREENWICH, CT

Sunriver Management LLC reported $953,866,121 across 23 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 55.69% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001892688-26-000031

Period
2025-12-31
Reported value
$954M
Holdings
23
Top 10 weight
55.69%
New
6
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
LMTnew+129,313$62.5M
TRUnew+517,921$44.4M
ACVAnew+2,963,578$23.8M
CDWnew+168,982$23M
LYVnew+150,000$21.4M

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
INTEGRAL AD SCIENCE HLDNG COexited-7,120,157-$72.4M
JAMFexited-3,893,883-$41.7M
DLTRexited-389,168-$36.7M
HURNreduced-172,896-$29.9M
DVexited-1,523,175-$18.2M

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 0001892688-26-000031, largest first. % of portfolio is the value over $953,866,121, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VRRMVERRA MOBILITY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,385,585 shares; 2025Q1: 1,920,395 shares; 2025Q2: 2,064,798 shares; 2025Q3: 2,284,774 shares; 2025Q4: 2,956,976 shares 2,956,976$66.3M6.95%+672,202Timeline
LMTLOCKHEED MARTIN CORPQuarterly 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: 129,313 shares 129,313$62.5M6.56%newTimeline
SSNCSS&C TECH HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 624,955 shares; 2024Q4: 536,237 shares; 2025Q1: not reported; 2025Q2: 484,343 shares; 2025Q3: 507,017 shares; 2025Q4: 630,879 shares 630,879$55.2M5.78%+123,862Timeline
BOXBOX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,571,978 shares; 2024Q4: 949,452 shares; 2025Q1: 1,546,862 shares; 2025Q2: 1,158,499 shares; 2025Q3: 1,517,828 shares; 2025Q4: 1,741,267 shares 1,741,267$52.1M5.46%+223,439Timeline
RTORENTOKIL INITIAL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 954,773 shares; 2025Q2: 2,057,126 shares; 2025Q3: 1,985,245 shares; 2025Q4: 1,697,919 shares 1,697,919$50M5.24%-287,326Timeline
CBZCBIZ INCQuarterly 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: 596,762 shares; 2025Q4: 989,349 shares 989,349$49.9M5.23%+392,587Timeline
ARMKARAMARKQuarterly 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: 1,238,712 shares; 2025Q3: 817,261 shares; 2025Q4: 1,351,397 shares 1,351,397$49.8M5.22%+534,136Timeline
WEXWEX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 264,533 shares; 2024Q4: 178,579 shares; 2025Q1: 314,069 shares; 2025Q2: 340,956 shares; 2025Q3: 308,081 shares; 2025Q4: 329,177 shares 329,177$49M5.14%+21,096Timeline
HURNHURON CONSULTING GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 439,629 shares; 2024Q4: 486,597 shares; 2025Q1: 341,908 shares; 2025Q2: 378,211 shares; 2025Q3: 451,985 shares; 2025Q4: 279,089 shares 279,089$48.3M5.06%-172,896Timeline
SYYSYSCO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 260,434 shares; 2025Q2: not reported; 2025Q3: 556,343 shares; 2025Q4: 652,768 shares 652,768$48.1M5.04%+96,425Timeline
NABLN-ABLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,806,020 shares; 2024Q4: 3,562,302 shares; 2025Q1: 4,580,663 shares; 2025Q2: 6,398,641 shares; 2025Q3: 6,211,878 shares; 2025Q4: 6,134,573 shares 6,134,573$45.9M4.81%-77,305Timeline
OPLNOPENLANE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,341,764 shares; 2024Q4: 2,665,054 shares; 2025Q1: 2,263,449 shares; 2025Q2: 2,266,701 shares; 2025Q3: 1,491,108 shares; 2025Q4: 1,498,562 shares 1,498,562$44.6M4.68%+7,454Timeline
TRUTRANSUNIONQuarterly 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: 517,921 shares 517,921$44.4M4.66%newTimeline
PFGCPERFORMANCE FOOD GROUP COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 931,885 shares; 2024Q4: 911,692 shares; 2025Q1: 727,716 shares; 2025Q2: 655,400 shares; 2025Q3: 463,141 shares; 2025Q4: 454,315 shares 454,315$40.9M4.28%-8,826Timeline
HIIHUNTINGTON INGALLS INDS INCQuarterly 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: 130,590 shares; 2025Q3: 155,407 shares; 2025Q4: 115,217 shares 115,217$39.2M4.11%-40,190Timeline
FAFIRST ADVANTAGE CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,976,637 shares; 2024Q4: 2,292,235 shares; 2025Q1: 3,420,507 shares; 2025Q2: 1,608,701 shares; 2025Q3: 2,350,614 shares; 2025Q4: 2,661,286 shares 2,661,286$38.7M4.05%+310,672Timeline
IQVIQVIA HLDGS INCQuarterly 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: 229,104 shares; 2025Q4: 163,513 shares 163,513$36.9M3.86%-65,591Timeline
SWKSTANLEY BLACK & DECKER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 354,527 shares; 2025Q1: 385,105 shares; 2025Q2: 141,964 shares; 2025Q3: 567,473 shares; 2025Q4: 433,673 shares 433,673$32.2M3.38%-133,800Timeline
ACVAACV AUCTIONS INCQuarterly 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: 2,963,578 shares 2,963,578$23.8M2.49%newTimeline
CDWCDW CORPQuarterly 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: 168,982 shares 168,982$23M2.41%newTimeline
LYVLIVE NATION ENTERTAINMENT INQuarterly 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: 150,000 shares 150,000$21.4M2.24%newTimeline
RPAYREPAY HLDGS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,416,840 shares; 2024Q4: 6,043,368 shares; 2025Q1: 6,168,501 shares; 2025Q2: 3,718,652 shares; 2025Q3: 3,928,000 shares; 2025Q4: 4,361,524 shares 4,361,524$15.9M1.67%+433,524Timeline
CCCCCC INTELLIGENT SOLUTIONS HLQuarterly 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: 2,000,000 shares 2,000,000$15.9M1.67%newTimeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
INTEGRAL AD SCIENCE HLDNG COINTEGRAL AD SCIENCE HLDNG CO7,120,157$72.4Mshares
JAMFJAMF HOLDING CORP3,893,883$41.7Mshares
DLTRDOLLAR TREE INC389,168$36.7Mshares
DVDOUBLEVERIFY HLDGS INC1,523,175$18.2Mshares

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 0001892688-26-000031 base2026-02-13acceptance time not in the bulk data set