BROWN CAPITAL MANAGEMENT LLC Diversified Active

CIK: 0000885062 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $1,219,147 (100.0% shares, 0.0% debt)

Holdings (55)

New Positions (4)

LOAR LOAR HOLDINGS INC 0.5%

Value ($000) $6,606 Shares 97,142 Est. Cost $72.91 Unrealized 0.0%

VCYT VERACYTE INC 0.4%

Value ($000) $4,806 Shares 114,157 Est. Cost $40.31 Unrealized 0.0%

AVPT AVEPOINT INC 0.3%

Value ($000) $3,892 Shares 280,223 Est. Cost $13.81 Unrealized 0.0%

PDFS PDF SOLUTIONS INC 0.3%

Value ($000) $3,570 Shares 125,137 Est. Cost $27.67 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LOAR	LOAR HOLDINGS INC	97,142	$6,606	0.5%	$72.91	0.0%	COM SHS	53947R105
VCYT	VERACYTE INC	114,157	$4,806	0.4%	$40.31	0.0%	COM	92337F107
AVPT	AVEPOINT INC	280,223	$3,892	0.3%	$13.81	0.0%	COM CL A	053604104
PDFS	PDF SOLUTIONS INC	125,137	$3,570	0.3%	$27.67	0.0%	COM	693282105

Exited Positions (3)

— PROS HOLDINGS INC 0.6%

Value ($000) $7,443 Shares 324,885 Est. Cost $31.53 Unrealized —

TNDM TANDEM DIABETES CARE INC 0.4%

Value ($000) $4,411 Shares 363,352 Est. Cost $57.05 Unrealized -68.4%

META META PLATFORMS INC 0.0%

Value ($000) $303 Shares 412 Est. Cost $136.37 Unrealized +389.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	PROS HOLDINGS INC	324,885	$7,443	0.6%	$31.53	—	—	74346Y103
TNDM	TANDEM DIABETES CARE INC	363,352	$4,411	0.4%	$57.05	-68.4%	—	875372203
META	META PLATFORMS INC	412	$303	0.0%	$136.37	+389.3%	—	30303M102

Decreased Positions (50)

— CYBERARK SOFTWARE LTD 5.6%

Value ($000) $68,042 (-65.5%) Shares 152,539 (-62.6%) Est. Cost $127.27 Unrealized —

VEEV VEEVA SYS INC 2.9%

Value ($000) $35,759 (-67.0%) Shares 160,187 (-56.0%) Est. Cost $36.77 Unrealized +621.7%

DDOG DATADOG INC 2.7%

Value ($000) $33,224 (-67.2%) Shares 244,312 (-65.7%) Est. Cost $63.43 Unrealized +149.1%

APPF APPFOLIO INC 2.9%

Value ($000) $35,391 (-62.5%) Shares 152,123 (-55.5%) Est. Cost $116.71 Unrealized +103.6%

GWRE GUIDEWIRE SOFTWARE INC 3.0%

Value ($000) $36,910 (-61.2%) Shares 183,624 (-55.7%) Est. Cost $61.22 Unrealized +261.3%

MANH MANHATTAN ASSOCIATES INC 2.7%

Value ($000) $32,504 (-62.2%) Shares 187,550 (-55.3%) Est. Cost $40.25 Unrealized +354.2%

TYL TYLER TECHNOLOGIES INC 2.8%

Value ($000) $33,623 (-60.3%) Shares 74,067 (-54.3%) Est. Cost $83.45 Unrealized +470.9%

XMTR XOMETRY INC 3.4%

Value ($000) $41,550 (-52.7%) Shares 698,666 (-56.6%) Est. Cost $33.54 Unrealized +68.1%

PAYC PAYCOM SOFTWARE INC 1.9%

Value ($000) $23,258 (-65.7%) Shares 145,948 (-55.2%) Est. Cost $78.03 Unrealized +126.7%

RGEN REPLIGEN CORP 3.7%

Value ($000) $44,893 (-49.8%) Shares 273,972 (-59.0%) Est. Cost $177.63 Unrealized -11.8%

CGNX COGNEX CORP 1.9%

Value ($000) $22,956 (-64.9%) Shares 638,019 (-55.8%) Est. Cost $36.75 Unrealized +10.0%

FLUT FLUTTER ENTMT PLC 2.3%

Value ($000) $28,457 (-58.8%) Shares 132,335 (-51.3%) Est. Cost $204.82 Unrealized +9.8%

ALRM ALARM COM HLDGS INC 2.1%

Value ($000) $25,751 (-57.0%) Shares 504,728 (-55.2%) Est. Cost $51.69 Unrealized -1.4%

QTWO Q2 HLDGS INC 2.1%

Value ($000) $25,646 (-55.9%) Shares 355,407 (-55.8%) Est. Cost $64.55 Unrealized +6.3%

TECH BIO-TECHNE CORP 2.1%

Value ($000) $25,620 (-55.5%) Shares 435,641 (-57.9%) Est. Cost $64.37 Unrealized -5.7%

VCEL VERICEL CORP 2.5%

Value ($000) $29,951 (-51.2%) Shares 831,752 (-57.4%) Est. Cost $25.76 Unrealized +42.6%

NCNO NCINO INC 1.6%

Value ($000) $18,962 (-58.5%) Shares 739,559 (-56.1%) Est. Cost $37.49 Unrealized -32.3%

GKOS GLAUKOS CORP 3.0%

Value ($000) $36,874 (-40.7%) Shares 326,579 (-57.2%) Est. Cost $57.90 Unrealized +65.0%

AGYS AGILYSYS INC 2.1%

Value ($000) $25,549 (-49.6%) Shares 214,986 (-55.4%) Est. Cost $88.98 Unrealized +35.3%

WK WORKIVA INC 1.5%

Value ($000) $17,983 (-54.7%) Shares 208,494 (-54.8%) Est. Cost $90.67 Unrealized -2.3%

VERX VERTEX INC 1.0%

Value ($000) $12,188 (-62.3%) Shares 610,332 (-53.1%) Est. Cost $38.64 Unrealized -44.0%

BMI BADGER METER INC 1.5%

Value ($000) $17,706 (-52.7%) Shares 101,519 (-51.6%) Est. Cost $206.67 Unrealized -13.0%

MELI MERCADOLIBRE INC 2.8%

Value ($000) $34,597 (-36.0%) Shares 17,176 (-25.7%) Est. Cost $934.33 Unrealized +124.8%

TMDX TRANSMEDICS GROUP INC 1.5%

Value ($000) $17,751 (-49.6%) Shares 145,918 (-53.5%) Est. Cost $68.78 Unrealized +82.5%

DUOL DUOLINGO INC 0.7%

Value ($000) $8,753 (-65.9%) Shares 49,876 (-37.4%) Est. Cost $334.45 Unrealized -29.5%

SHOP SHOPIFY INC 3.3%

Value ($000) $39,937 (-29.1%) Shares 248,101 (-34.6%) Est. Cost $43.21 Unrealized +271.6%

CORT CORCEPT THERAPEUTICS INC 0.4%

Value ($000) $4,809 (-75.9%) Shares 138,191 (-42.4%) Est. Cost $72.36 Unrealized +8.5%

UFPT UFP TECHNOLOGIES INC 1.5%

Value ($000) $18,578 (-44.6%) Shares 83,672 (-50.2%) Est. Cost $249.63 Unrealized -14.2%

CWAN CLEARWATER ANALYTICS HLDGS I 2.5%

Value ($000) $30,543 (-32.5%) Shares 1,266,310 (-49.6%) Est. Cost $19.52 Unrealized +2.6%

ERII ENERGY RECOVERY INC 0.8%

Value ($000) $10,317 (-58.3%) Shares 764,793 (-52.3%) Est. Cost $22.66 Unrealized -33.1%

CYRX CRYOPORT INC 0.9%

Value ($000) $10,683 (-57.0%) Shares 1,112,771 (-57.6%) Est. Cost $37.91 Unrealized -75.1%

SPSC SPS COMM INC 0.7%

Value ($000) $9,052 (-60.0%) Shares 101,560 (-53.3%) Est. Cost $168.44 Unrealized -45.0%

DV DOUBLEVERIFY HLDGS INC 0.8%

Value ($000) $9,329 (-57.3%) Shares 815,446 (-55.2%) Est. Cost $29.04 Unrealized -62.0%

KIDS ORTHOPEDIATRICS CORP 0.7%

Value ($000) $9,130 (-54.4%) Shares 514,097 (-52.5%) Est. Cost $47.52 Unrealized -63.2%

RDVT RED VIOLET INC 0.8%

Value ($000) $9,992 (-49.3%) Shares 175,452 (-53.5%) Est. Cost $47.41 Unrealized +14.4%

INSP INSPIRE MED SYS INC 0.9%

Value ($000) $11,062 (-46.4%) Shares 119,935 (-56.9%) Est. Cost $187.43 Unrealized -49.0%

MNDY MONDAY COM LTD 0.9%

Value ($000) $10,484 (-43.9%) Shares 71,052 (-26.4%) Est. Cost $213.09 Unrealized -21.0%

ICLR ICON PLC 1.9%

Value ($000) $22,712 (-23.8%) Shares 124,638 (-26.8%) Est. Cost $87.39 Unrealized +103.8%

CAMT CAMTEK LTD 9.4%

Value ($000) $114,327 (-5.7%) Shares 1,075,053 (-6.8%) Est. Cost $78.41 Unrealized +43.2%

CTKB CYTEK BIOSCIENCES INC 0.9%

Value ($000) $10,468 (-39.2%) Shares 2,072,915 (-58.2%) Est. Cost $10.77 Unrealized -56.9%

CHKP CHECK POINT SOFTWARE TECH LT 0.7%

Value ($000) $8,877 (-31.7%) Shares 47,839 (-23.9%) Est. Cost $92.03 Unrealized +110.1%

TEAM ATLASSIAN CORPORATION 1.0%

Value ($000) $12,325 (-24.9%) Shares 76,015 (-26.0%) Est. Cost $160.12 Unrealized -2.0%

RXST RXSIGHT INC 0.3%

Value ($000) $3,727 (-46.2%) Shares 357,713 (-53.6%) Est. Cost $42.01 Unrealized -76.1%

INTA INTAPP INC 0.6%

Value ($000) $6,811 (-22.1%) Shares 148,656 (-30.4%) Est. Cost $43.22 Unrealized -4.0%

MAMA MAMAS CREATIONS INC 0.5%

Value ($000) $6,334 (-13.6%) Shares 469,538 (-32.7%) Est. Cost $9.07 Unrealized +26.8%

MSFT MICROSOFT CORP 0.0%

Value ($000) $212 (-53.4%) Shares 438 (-50.1%) Est. Cost $90.31 Unrealized +454.3%

AAPL APPLE INC 0.0%

Value ($000) $259 (-44.3%) Shares 952 (-47.8%) Est. Cost $91.13 Unrealized +194.5%

AMZN AMAZON COM INC 0.0%

Value ($000) $208 (-44.6%) Shares 903 (-47.3%) Est. Cost $120.46 Unrealized +89.9%

GOOGL ALPHABET INC 0.0%

Value ($000) $233 (-39.5%) Shares 744 (-53.0%) Est. Cost $106.67 Unrealized +167.7%

AXGN AXOGEN INC 0.9%

Value ($000) $11,430 (-0.6%) Shares 349,209 (-45.8%) Est. Cost $14.51 Unrealized +69.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	CYBERARK SOFTWARE LTD	152,539 (-62.6%)	$68,042 (-65.5%)	5.6%	$127.27	—	SHS	M2682V108
VEEV	VEEVA SYS INC	160,187 (-56.0%)	$35,759 (-67.0%)	2.9%	$36.77	+621.7%	CL A COM	922475108
DDOG	DATADOG INC	244,312 (-65.7%)	$33,224 (-67.2%)	2.7%	$63.43	+149.1%	CL A COM	23804L103
APPF	APPFOLIO INC	152,123 (-55.5%)	$35,391 (-62.5%)	2.9%	$116.71	+103.6%	COM CL A	03783C100
GWRE	GUIDEWIRE SOFTWARE INC	183,624 (-55.7%)	$36,910 (-61.2%)	3.0%	$61.22	+261.3%	COM	40171V100
MANH	MANHATTAN ASSOCIATES INC	187,550 (-55.3%)	$32,504 (-62.2%)	2.7%	$40.25	+354.2%	COM	562750109
TYL	TYLER TECHNOLOGIES INC	74,067 (-54.3%)	$33,623 (-60.3%)	2.8%	$83.45	+470.9%	COM	902252105
XMTR	XOMETRY INC	698,666 (-56.6%)	$41,550 (-52.7%)	3.4%	$33.54	+68.1%	CLASS A COM	98423F109
PAYC	PAYCOM SOFTWARE INC	145,948 (-55.2%)	$23,258 (-65.7%)	1.9%	$78.03	+126.7%	COM	70432V102
RGEN	REPLIGEN CORP	273,972 (-59.0%)	$44,893 (-49.8%)	3.7%	$177.63	-11.8%	COM	759916109
CGNX	COGNEX CORP	638,019 (-55.8%)	$22,956 (-64.9%)	1.9%	$36.75	+10.0%	COM	192422103
FLUT	FLUTTER ENTMT PLC	132,335 (-51.3%)	$28,457 (-58.8%)	2.3%	$204.82	+9.8%	SHS	G3643J108
ALRM	ALARM COM HLDGS INC	504,728 (-55.2%)	$25,751 (-57.0%)	2.1%	$51.69	-1.4%	COM	011642105
QTWO	Q2 HLDGS INC	355,407 (-55.8%)	$25,646 (-55.9%)	2.1%	$64.55	+6.3%	COM	74736L109
TECH	BIO-TECHNE CORP	435,641 (-57.9%)	$25,620 (-55.5%)	2.1%	$64.37	-5.7%	COM	09073M104
VCEL	VERICEL CORP	831,752 (-57.4%)	$29,951 (-51.2%)	2.5%	$25.76	+42.6%	COM	92346J108
NCNO	NCINO INC	739,559 (-56.1%)	$18,962 (-58.5%)	1.6%	$37.49	-32.3%	COM	63947X101
GKOS	GLAUKOS CORP	326,579 (-57.2%)	$36,874 (-40.7%)	3.0%	$57.90	+65.0%	COM	377322102
AGYS	AGILYSYS INC	214,986 (-55.4%)	$25,549 (-49.6%)	2.1%	$88.98	+35.3%	COM	00847J105
WK	WORKIVA INC	208,494 (-54.8%)	$17,983 (-54.7%)	1.5%	$90.67	-2.3%	COM CL A	98139A105
VERX	VERTEX INC	610,332 (-53.1%)	$12,188 (-62.3%)	1.0%	$38.64	-44.0%	CL A	92538J106
BMI	BADGER METER INC	101,519 (-51.6%)	$17,706 (-52.7%)	1.5%	$206.67	-13.0%	COM	056525108
MELI	MERCADOLIBRE INC	17,176 (-25.7%)	$34,597 (-36.0%)	2.8%	$934.33	+124.8%	COM	58733R102
TMDX	TRANSMEDICS GROUP INC	145,918 (-53.5%)	$17,751 (-49.6%)	1.5%	$68.78	+82.5%	COM	89377M109
DUOL	DUOLINGO INC	49,876 (-37.4%)	$8,753 (-65.9%)	0.7%	$334.45	-29.5%	CL A COM	26603R106
SHOP	SHOPIFY INC	248,101 (-34.6%)	$39,937 (-29.1%)	3.3%	$43.21	+271.6%	CL A SUB VTG SHS	82509L107
CORT	CORCEPT THERAPEUTICS INC	138,191 (-42.4%)	$4,809 (-75.9%)	0.4%	$72.36	+8.5%	COM	218352102
UFPT	UFP TECHNOLOGIES INC	83,672 (-50.2%)	$18,578 (-44.6%)	1.5%	$249.63	-14.2%	COM	902673102
CWAN	CLEARWATER ANALYTICS HLDGS I	1,266,310 (-49.6%)	$30,543 (-32.5%)	2.5%	$19.52	+2.6%	CL A	185123106
ERII	ENERGY RECOVERY INC	764,793 (-52.3%)	$10,317 (-58.3%)	0.8%	$22.66	-33.1%	COM	29270J100
CYRX	CRYOPORT INC	1,112,771 (-57.6%)	$10,683 (-57.0%)	0.9%	$37.91	-75.1%	COM PAR $0.001	229050307
SPSC	SPS COMM INC	101,560 (-53.3%)	$9,052 (-60.0%)	0.7%	$168.44	-45.0%	COM	78463M107
DV	DOUBLEVERIFY HLDGS INC	815,446 (-55.2%)	$9,329 (-57.3%)	0.8%	$29.04	-62.0%	COM	25862V105
KIDS	ORTHOPEDIATRICS CORP	514,097 (-52.5%)	$9,130 (-54.4%)	0.7%	$47.52	-63.2%	COM	68752L100
RDVT	RED VIOLET INC	175,452 (-53.5%)	$9,992 (-49.3%)	0.8%	$47.41	+14.4%	COM	75704L104
INSP	INSPIRE MED SYS INC	119,935 (-56.9%)	$11,062 (-46.4%)	0.9%	$187.43	-49.0%	COM	457730109
MNDY	MONDAY COM LTD	71,052 (-26.4%)	$10,484 (-43.9%)	0.9%	$213.09	-21.0%	SHS	M7S64H106
ICLR	ICON PLC	124,638 (-26.8%)	$22,712 (-23.8%)	1.9%	$87.39	+103.8%	SHS	G4705A100
CAMT	CAMTEK LTD	1,075,053 (-6.8%)	$114,327 (-5.7%)	9.4%	$78.41	+43.2%	ORD	M20791105
CTKB	CYTEK BIOSCIENCES INC	2,072,915 (-58.2%)	$10,468 (-39.2%)	0.9%	$10.77	-56.9%	COM	23285D109
CHKP	CHECK POINT SOFTWARE TECH LT	47,839 (-23.9%)	$8,877 (-31.7%)	0.7%	$92.03	+110.1%	ORD	M22465104
TEAM	ATLASSIAN CORPORATION	76,015 (-26.0%)	$12,325 (-24.9%)	1.0%	$160.12	-2.0%	CL A	049468101
RXST	RXSIGHT INC	357,713 (-53.6%)	$3,727 (-46.2%)	0.3%	$42.01	-76.1%	COM	78349D107
INTA	INTAPP INC	148,656 (-30.4%)	$6,811 (-22.1%)	0.6%	$43.22	-4.0%	COM	45827U109
MAMA	MAMAS CREATIONS INC	469,538 (-32.7%)	$6,334 (-13.6%)	0.5%	$9.07	+26.8%	COM	56146T103
MSFT	MICROSOFT CORP	438 (-50.1%)	$212 (-53.4%)	0.0%	$90.31	+454.3%	COM	594918104
AAPL	APPLE INC	952 (-47.8%)	$259 (-44.3%)	0.0%	$91.13	+194.5%	COM	037833100
AMZN	AMAZON COM INC	903 (-47.3%)	$208 (-44.6%)	0.0%	$120.46	+89.9%	COM	023135106
GOOGL	ALPHABET INC	744 (-53.0%)	$233 (-39.5%)	0.0%	$106.67	+167.7%	CAP STK CL A	02079K305
AXGN	AXOGEN INC	349,209 (-45.8%)	$11,430 (-0.6%)	0.9%	$14.51	+69.5%	COM	05463X106

Unchanged Positions (1)

GLBE GLOBAL E ONLINE LTD 7.8%

Value ($000) $94,535 Shares 2,404,856 Est. Cost $38.27 Unrealized -3.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GLBE	GLOBAL E ONLINE LTD	2,404,856	$94,535	7.8%	$38.27	-3.1%	SHS	M5216V106