Kerrisdale Advisers, LLC

CIK 0001569688 · Q2 2026

13F Equity AUM

$399.2M

+52.0% QoQ

Positions

114

+2 QoQ

AUM Rank

#5,624

Top 45%

Skill Alpha (FF)

+4.9%/yr^ns

No Clear Edge

Rank #754 · Top 9%

vs S&P +8.8%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 43.3%Top 10: 54.2%Top 20: 68.8%

RRX27.6%

V4.3%

BDC4.3%

MLB13.7%

AMZN3.3%

SHC2.7%

GOOGL2.3%

AWM2.1%

ACMR2.0%

AZTA1.9%

Others (104)45.8%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Industrials36.1%

Technology21.5%

Consumer Cyclical9.2%

Healthcare7.9%

Financial Services6.1%

Communication Services4.8%

Consumer Defensive4.5%

Energy2.7%

Other7.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 114Median: 0.35%Avg: 0.88%

0–0.5%

76(18.4%)

0.5–1%

19(13.7%)

1–3%

14(24.6%)

3–5%

4(15.6%)

5%+

1(27.6%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 114vs 20 funds

0%Low

114

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New23Increased16Decreased34Exited21

New Positions

FORGENT POWER SOLUTI…1.6%

+117K

AKAM1.5%

+52K

ILMN1.0%

+22K

ZTS0.8%

+42K

GQ90.6%

+6K

LULU0.5%

+17K

ESTA0.4%

+20K

LMT0.4%

+3K

LMB0.4%

+21K

APG0.3%

+33K

Increased

RRX27.6%

+451K(+3688%)

AZTA1.9%

+272K(+1420%)

HDSN0.4%

+242K(+421%)

BDC4.3%

+134K(+1441%)

AMTM0.3%

+31K(+105%)

CVE0.9%

+30K(+27%)

FISV0.4%

+28K(+369%)

SOLS0.6%

+23K(+451%)

DT0.5%

+18K(+76%)

IPGP1.2%

+18K(+77%)

Decreased

ADTN0.3%

-481,491(-87%)

ACMR2.0%

-161,185(-72%)

TDS1.5%

-134,208(-45%)

MRVL0.4%

-108,215(-95%)

CPNG0.2%

-106,597(-71%)

LGN0.3%

-94,198(-89%)

NOK0.6%

-92,880(-33%)

SNAP0.3%

-48,120(-17%)

CRC0.3%

-45,650(-62%)

GTLB0.3%

-29,565(-43%)

Exited

INTC

-61,285

ICLR

-15,646

-52,401

-13,630

-35,335

-6,820

-84,060

-162,825

-5,820

-72,820

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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