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WESTERLY CAPITAL MANAGEMENT, LLC

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13F filer, CIK 1546172, SAN FRANCISCO, CA

WESTERLY CAPITAL MANAGEMENT, LLC reported $455,333,420 across 41 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 50.02% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0002073679-26-000027

Period
2025-12-31
Reported value
$455M
Holdings
41
Top 10 weight
50.02%
New
7
Sold out
9

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NKEnew+200,000$12.7M
ESTCadded+140,000$10.6M
UDMYadded+1,735,000$10.1M
NOKnew+1,350,000$8.73M
ENPHnew+175,000$5.61M

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
PROexited-949,750-$21.8M
LUMNreduced-2,700,000-$21M
VIAVreduced-850,000-$15.1M
SNAPreduced-900,000-$7.26M
POWIexited-120,000-$4.83M

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 0002073679-26-000027, largest first. % of portfolio is the value over $332,471,420, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
UDMYUDEMY 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: 2,265,000 shares; 2025Q4: 4,000,000 shares 4,000,000$23.4M7.04%+1,735,000Timeline
VIAVVIAVI SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,050,000 shares; 2024Q4: 1,450,000 shares; 2025Q1: 1,930,000 shares; 2025Q2: 2,175,000 shares; 2025Q3: 2,000,000 shares; 2025Q4: 1,150,000 shares 1,150,000$20.5M6.16%-850,000Timeline
AIPARTERIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 325,000 shares; 2024Q4: 250,000 shares; 2025Q1: 594,050 shares; 2025Q2: 680,000 shares; 2025Q3: 1,425,000 shares; 2025Q4: 1,295,000 shares 1,295,000$20.1M6.04%-130,000Timeline
HDSNHUDSON TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 810,000 shares; 2024Q4: 1,017,580 shares; 2025Q1: 1,225,000 shares; 2025Q2: 2,000,000 shares; 2025Q3: 1,890,000 shares; 2025Q4: 2,550,000 shares 2,550,000$17.5M5.25%+660,000Timeline
MRVLMARVELL TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 105,000 shares; 2024Q4: 50,000 shares; 2025Q1: 75,000 shares; 2025Q2: 90,000 shares; 2025Q3: 180,000 shares; 2025Q4: 200,000 shares 200,000$17M5.11%+20,000Timeline
ESTCELASTIC N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 80,000 shares; 2025Q4: 220,000 shares 220,000$16.6M4.99%+140,000Timeline
BEBLOOM ENERGY 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: 150,000 shares; 2025Q4: 150,000 shares 150,000$13M3.92%0Timeline
FRSHFRESHWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 275,000 shares; 2024Q4: 300,000 shares; 2025Q1: 500,000 shares; 2025Q2: 505,000 shares; 2025Q3: 970,000 shares; 2025Q4: 1,050,000 shares 1,050,000$12.9M3.87%+80,000Timeline
NKENIKE 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: 200,000 shares 200,000$12.7M3.83%newTimeline
HIPOHIPPO HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 577,000 shares; 2024Q4: 364,215 shares; 2025Q1: 250,000 shares; 2025Q2: 326,000 shares; 2025Q3: 338,000 shares; 2025Q4: 420,000 shares 420,000$12.6M3.8%+82,000Timeline
MTRXMATRIX SVC COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,100,000 shares; 2024Q4: 1,150,000 shares; 2025Q1: 1,018,000 shares; 2025Q2: 820,000 shares; 2025Q3: 1,100,000 shares; 2025Q4: 988,000 shares 988,000$11.6M3.48%-112,000Timeline
CGNTCOGNYTE SOFTWARE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 745,000 shares; 2024Q4: 900,000 shares; 2025Q1: 1,065,000 shares; 2025Q2: 850,000 shares; 2025Q3: 1,100,000 shares; 2025Q4: 1,155,000 shares 1,155,000$10.9M3.27%+55,000Timeline
TACTRANSALTA 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: 767,500 shares; 2025Q3: 900,000 shares; 2025Q4: 805,000 shares 805,000$10.2M3.06%-95,000Timeline
NXDRNEXTDOOR HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,100,000 shares; 2024Q4: 3,100,000 shares; 2025Q1: 4,082,323 shares; 2025Q2: 3,550,000 shares; 2025Q3: 4,450,000 shares; 2025Q4: 4,500,000 shares 4,500,000$9.45M2.84%+50,000Timeline
NOKNOKIA 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: 1,350,000 shares 1,350,000$8.73M2.63%newTimeline
FLRFLUOR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,000 shares; 2024Q4: 170,000 shares; 2025Q1: 200,000 shares; 2025Q2: 150,000 shares; 2025Q3: 175,000 shares; 2025Q4: 200,000 shares 200,000$7.93M2.38%+25,000Timeline
COURCOURSERA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 85,000 shares; 2025Q2: 285,000 shares; 2025Q3: 600,000 shares; 2025Q4: 1,000,000 shares 1,000,000$7.36M2.21%+400,000Timeline
TDCTERADATA CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 190,000 shares; 2025Q2: 250,000 shares; 2025Q3: 300,000 shares; 2025Q4: 225,000 shares 225,000$6.85M2.06%-75,000Timeline
BIDUBAIDU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,000 shares; 2024Q4: 25,000 shares; 2025Q1: 85,000 shares; 2025Q2: 60,000 shares; 2025Q3: 83,000 shares; 2025Q4: 50,000 shares 50,000$6.53M1.96%-33,000Timeline
ANGIANGI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 75,000 shares; 2025Q2: 370,000 shares; 2025Q3: 155,000 shares; 2025Q4: 500,000 shares 500,000$6.46M1.94%+345,000Timeline
LUMNLUMEN TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 500,000 shares; 2025Q1: 3,275,000 shares; 2025Q2: 2,550,000 shares; 2025Q3: 3,500,000 shares; 2025Q4: 800,000 shares 800,000$6.22M1.87%-2,700,000Timeline
ADTNADTRAN HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,320,000 shares; 2024Q4: 930,000 shares; 2025Q1: 835,000 shares; 2025Q2: 975,000 shares; 2025Q3: 920,220 shares; 2025Q4: 700,000 shares 700,000$6.08M1.83%-220,220Timeline
AMBAAMBARELLA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 5,000 shares; 2025Q1: not reported; 2025Q2: 143,000 shares; 2025Q3: 45,000 shares; 2025Q4: 85,000 shares 85,000$6.02M1.81%+40,000Timeline
AMPLAMPLITUDE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 475,000 shares; 2025Q2: 400,000 shares; 2025Q3: 350,000 shares; 2025Q4: 500,000 shares 500,000$5.79M1.74%+150,000Timeline
PDPAGERDUTY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 150,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 20,000 shares; 2025Q4: 437,000 shares 437,000$5.73M1.72%+417,000Timeline
ENPHENPHASE ENERGY 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: 175,000 shares 175,000$5.61M1.69%newTimeline
GLWCORNING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 142,000 shares; 2024Q4: 110,000 shares; 2025Q1: 155,000 shares; 2025Q2: 125,000 shares; 2025Q3: 40,000 shares; 2025Q4: 60,000 shares 60,000$5.25M1.58%+20,000Timeline
BLBLACKLINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,000 shares; 2024Q4: not reported; 2025Q1: 65,000 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 90,000 shares 90,000$4.98M1.5%newTimeline
SNAPSNAP 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: 1,500,000 shares; 2025Q4: 600,000 shares 600,000$4.84M1.46%-900,000Timeline
UNFUNIFIRST CORP MASSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 15,000 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 25,000 shares 25,000$4.82M1.45%newTimeline
FSLRFIRST SOLAR 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: 16,000 shares; 2025Q4: 16,000 shares 16,000$4.18M1.26%0Timeline
CGNXCOGNEX 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: 60,000 shares; 2025Q3: 85,000 shares; 2025Q4: 100,000 shares 100,000$3.6M1.08%+15,000Timeline
ASANASANA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,425,000 shares; 2024Q4: 750,000 shares; 2025Q1: 300,000 shares; 2025Q2: 25,000 shares; 2025Q3: not reported; 2025Q4: 250,000 shares 250,000$3.43M1.03%newTimeline
NWPXNWPX INFRASTRUCTURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 35,000 shares; 2024Q4: 35,000 shares; 2025Q1: 40,000 shares; 2025Q2: 55,000 shares; 2025Q3: 50,000 shares; 2025Q4: 50,000 shares 50,000$3.12M0.94%0Timeline
SCORCOMSCORE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 310,000 shares; 2024Q4: 309,896 shares; 2025Q1: 395,000 shares; 2025Q2: 400,000 shares; 2025Q3: 400,000 shares; 2025Q4: 470,000 shares 470,000$3.06M0.92%+70,000Timeline
SPSCSPS COMM 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: 30,000 shares 30,000$2.67M0.8%newTimeline
HHSHARTE HANKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 625,000 shares; 2024Q4: 620,590 shares; 2025Q1: 618,226 shares; 2025Q2: 619,000 shares; 2025Q3: 619,000 shares; 2025Q4: 627,000 shares 627,000$1.89M0.57%+8,000Timeline
ORNORION GROUP 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: 25,000 shares; 2025Q4: 150,000 shares 150,000$1.49M0.45%+125,000Timeline
GENIGENIUS SPORTS LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 250,000 shares; 2025Q1: 275,000 shares; 2025Q2: 125,000 shares; 2025Q3: 100,000 shares; 2025Q4: 100,000 shares 100,000$1.1M0.33%0Timeline
CSGSCSG SYS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 140,000 shares; 2024Q4: 50,000 shares; 2025Q1: 100,000 shares; 2025Q2: 20,000 shares; 2025Q3: 5,000 shares; 2025Q4: 5,000 shares 5,000$383K0.12%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
INVESCO QQQ TRINVESCO QQQ TR PUTput200,000$123M-350,000

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
PROPROS Holdings Inc949,750$21.8Mshares
POWIPOWER INTEGRATIONS INC120,000$4.83Mshares
GTLBGITLAB INC80,000$3.61Mshares
BILLBILL HOLDINGS INC30,000$1.59Mshares
VIAVI SOLUTIONS INCVIAVI SOLUTIONS INC900,000$1.28Mcall
CEVACEVA INC27,000$713Kshares
VECOVEECO INSTRS INC DEL10,000$304Kshares
FRESHWORKS INCFRESHWORKS INC400,000$300Kcall
IONQ INCIONQ INC10,000$55.8Kput

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 0002073679-26-000027 base2026-02-17acceptance time not in the bulk data set