Stocks/Funds/CIK 1728689

Kopion Asset Management, LLC

long-term holderconcentrated
Quarterly 13F filings · Latest period 2026-03-31 · CIK 1728689
Assets
$127M
-1.3% YoY
Holdings
19
Lifetime alpha vs market
-4.86% annual
Average hold time
4.6 yr
median 5.8 yr

Quarterly history

Cum return +25% vs S&P +52% · α -27% lifetimeAUM $127M · peak $154MFlow $-5M (-3%)2019-122020-122021-122022-122023-122024-122025-122026-03
AUM ($B)fundS&P 500(gap = α)/ Flow in/out

Behavior signals (lifetime)

Dip response
+16.30%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.11%
steady accumulation
Rally response
-16.92%
trims into rallies
when a holding rises +10%+

Top positions · 19

Ticker$ value% portYoYHold time
NICENICE Ltd.$13M10.0%-28.5%1.5 yr
TNCTennant Company$11M9.0%-15.3%6.5 yr
VRNSVaronis Systems, Inc.$11M8.4%-46.9%6.5 yr
TRUPTrupanion, Inc.$10M8.1%-31.3%3.8 yr
MGNIMagnite, Inc.$10M8.0%+4.1%5.8 yr
PWFLPowerFleet, Inc.$8M5.9%2.0 yr
ACIWACI Worldwide, Inc.$7M5.9%-25.0%6.5 yr
FTITechnipFMC plc$7M5.8%+119.3%6.5 yr
CERTCertara, Inc.$7M5.8%-42.4%1.8 yr
SSYSStratasys Ltd.$7M5.7%-20.2%6.5 yr
BWABorgWarner Inc.$7M5.2%+92.1%6.5 yr
SSTISoundThinking, Inc.$6M5.1%-60.9%2.5 yr
ERIIEnergy Recovery, Inc.$5M4.0%-36.6%1.0 yr
CGNXCognex Corporation$5M3.7%+65.5%6.5 yr
HXLHexcel Corporation$4M3.5%+49.4%6.5 yr

Portfolio composition (YoY)

Industry mix
Software - Application16.1%-9.6pp$20M
Software - Infrastructure14.3%+3.5pp$18M
Industrial - Machinery9.0%+6.5pp$11M
Insurance - Specialty8.1%-0.1pp$10M
Advertising Agencies8.0%+2.7pp$10M
Medical - Healthcare Information Services7.9%+0.8pp$10M
Communication Equipment5.9%+2.6pp$8M
Oil & Gas Equipment & Services5.8%-2.1pp$7M
Computer Hardware5.7%-0.6pp$7M
Auto - Parts5.2%-3.0pp$7M
Country
US84.2%-1.1pp
IL10.0%+3.2pp
GB5.8%-2.1pp
Top 5: 43.5% · Top 10: 72.6% · Top 25: 100.0%

Winners

TickerPrev $PnLYoY %
FTI$10M+0.01B119.3%
COHR$4M+0.01B266.8%
BWA$10M+0.01B92.1%
CGNX$7M+0.00B65.5%
HXL$5M+0.00B49.4%

Losers

TickerPrev $PnLYoY %
SSTI$9M-0.01B-60.9%
VRNS$8M-0.00B-46.9%
TRUP$10M-0.00B-31.3%
CERT$6M-0.00B-42.4%
NICE$9M-0.00B-28.5%

Top buys this quarter · 12

PWFL PowerFleet, Inc.+$8M
VRNS Varonis Systems, Inc.+$11M
TNC Tennant Company+$3M
MGNI Magnite, Inc.+$3M
TRUP Trupanion, Inc.+$10M
ACIW ACI Worldwide, Inc.+$2M
CERT Certara, Inc.+$7M
ERII Energy Recovery, Inc.+$2M
SLP Simulations Plus, Inc.+$1M
TYL Tyler Technologies, Inc.+$1M

Top sells this quarter · 7

BIL State Street SPDR Bloomberg 1-$0M
FTI TechnipFMC plc$10M
COHR Coherent, Inc.$5M
BWA BorgWarner Inc.$4M
CGNX Cognex Corporation$3M
HXL Hexcel Corporation$2M
SSYS Stratasys Ltd.$0M

Quarterly history (TTM returns)

PeriodAUM# PosReturn (1yr)SPY (1yr)Alpha (1yr)Flow
2026-03-31$127M19+5.39%+17.59%-12.21%-0.00B
2025-12-31$140M18+5.01%+17.72%-12.71%+0.00B
2025-09-30$154M19+17.79%+17.52%+0.28%-0.00B
2025-06-30$148M20+19.94%+14.94%+5.00%-0.00B
2025-03-31$128M20+5.06%+8.30%-3.24%-0.00B
2024-12-31$142M20+19.13%+24.89%-5.76%+0.00B
2024-09-30$139M19+37.92%+36.04%+1.88%-0.01B
2024-06-30$141M18+19.79%+24.49%-4.70%-0.00B
2024-03-31$141M18+27.68%+29.62%-1.94%+0.00B
2023-12-31$130M18+32.35%+26.18%+6.18%-0.00B
2023-09-30$112M18+27.83%+21.57%+6.26%+0.00B
2023-06-30$118M19+24.60%+19.42%+5.17%-0.01B
2023-03-31$115M19-11.80%-7.82%-3.98%+0.01B
2022-12-31$99M18+12.73%+7.56%+5.17%-0.00B
2022-09-30$91M18-8.19%-4.93%-3.26%+0.01B
2022-06-30$94M17-22.61%-16.11%-6.50%+0.00B