1y return+19.8%S&P 500 +20.9%
3y return+60.3%S&P 500 +68.5%
5y return−25.0%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since March 31, 2020: $280 against $290 in the S&P 500.2
Nine Ten Capital Management LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| AGYSAgilysys Inc | $68.5M | 21.3% | |
| MGNIMagnite Inc | $61.9M | 19.3% | −6.3% |
| Cellebrite Di LtdCUSIP M2197Q107 | $60.3M | 18.7% | +19.8% |
| GPGIGpgi Inc | $47.3M | 14.7% | +2.8% |
| WINAWinmark Corp | $35.4M | 11.0% | |
| IRMDIradimed Corp | $24.5M | 7.6% | −23.3% |
| RHLDResolute Hldgs Mgmt Inc | $13.4M | 4.2% | |
| SNEXStonex Group Inc | $10.0M | 3.1% | −85.4% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| AGYSAgilysys Inc | June 30, 2020 | +482.5% | $68.5M |
| RHLDResolute Hldgs Mgmt Inc | March 31, 2025 | +361.2% | $13.4M |
| IRMDIradimed Corp | June 30, 2020 | +311.7% | $24.5M |
| MGNIMagnite Inc | September 30, 2023 | +151.7% | $61.9M |
| WINAWinmark Corp | June 30, 2020 | +147.1% | $35.4M |
| SNEXStonex Group Inc | June 30, 2020 | +115.4% | $10.0M |
| Cellebrite Di LtdCUSIP M2197Q107 | June 30, 2023 | +102.8% | $60.3M |
| GPGIGpgi Inc | December 31, 2024 | +3.4% | $47.3M |
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +20.8% | +14.8% |
| March 31, 2026 | −17.3% | −4.6% |
| December 31, 2025 | +3.1% | +2.4% |
| September 30, 2025 | +16.3% | +7.8% |
| June 30, 2025 | +25.6% | +10.5% |
| March 31, 2025 | −17.0% | −4.6% |
| December 31, 2024 | +9.4% | +2.1% |
| September 30, 2024 | +14.9% | +5.4% |
| June 30, 2024 | +3.2% | +4.0% |
| March 31, 2024 | −1.6% | +10.0% |
| December 31, 2023 | +1.1% | +11.2% |
| September 30, 2023 | −0.5% | −3.6% |
| June 30, 2023 | −28.0% | +8.3% |
| March 31, 2023 | +11.2% | +7.0% |
| December 31, 2022 | −2.2% | +7.1% |
| September 30, 2022 | −6.9% | −5.3% |
| June 30, 2022 | −15.1% | −16.5% |
| March 31, 2022 | −20.2% | −4.9% |
| December 31, 2021 | +1.7% | +10.7% |
| September 30, 2021 | −6.9% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Nine Ten Capital Management LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1635236&type=13F-HR&dateb=&owner=include&count=40CIK 1635236
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1635236/000142050626001694/Filed August 14, 2026 · accession 0001420506-26-001694