TI

Trigran Investments Portfolio holdings

AUM $545M Turnover 21.05%
1-Year Est. Return 56.2%
This Fund
S&P 500
This Quarter Est. Return
+11.47%
1 Year Est. Return
+56.2%
3 Year Est. Return
+30.21%
5 Year Est. Return
+38.87%
10 Year Est. Return
+382.16%
AUM
$488M
AUM Growth
+$14.9M
Cap. Flow
-$23.3M
Cap. Flow %
-4.78%
Top 10 Hldgs %
79.68%
Holding
22
New
1
Increased
13
Reduced
5
Closed
3
Avg Time Held
2.6 years
Top 10 Avg Time Held
1.7 years
Top 20 Avg Time Held
2.5 years

Top Buys

Rank Stock Value
1
TPIC icon
TPI Composites
TPIC
+$12.1M
2
SWIR
Sierra Wireless
SWIR
+$8.36M
3
FARM icon
Farmer Brothers
FARM
+$7.32M
4
BCOV icon
Brightcove, Inc.
BCOV
+$4.65M
5
QTNA
Quantenna Communications, Inc. Common Stock
QTNA
+$2.73M

Top Sells

Rank Stock Value
1
TTGT icon
TechTarget
TTGT
+$29.3M
2
KMG
KMG Chemicals Inc
KMG
+$12.4M
3
SRDX icon
Surmodics
SRDX
+$10.6M
4
EFII
Electronics for Imaging
EFII
+$5.78M
5
RAMP icon
LiveRamp
RAMP
+$5.27M

Sector Composition

Rank Sector Weight
1 Technology 34.75%
2 Industrials 13.52%
3 Healthcare 12.93%
4 Consumer Staples 8.98%
5 Consumer Discretionary 8.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
SRDX icon
1
DELISTED
Surmodics
SRDX
$63.1M 12.93%
1,143,459
-229,486
-17% -$10.6M
2013 Q2
20 quarters
IDTI
2
DELISTED
Integrated Device Technology I
IDTI
$55.2M 11.31%
1,731,258
-93,415
-5% -$2.97M
2016 Q1
9 quarters
FARM icon
3
DELISTED
Farmer Brothers
FARM
$43.8M 8.98%
1,433,932
+254,184
+22% +$7.32M
2014 Q2
16 quarters
TYPE
4
DELISTED
Monotype Imaging Holdings Inc.
TYPE
$43.8M 8.98%
2,157,734
+39,078
+2% +$857K
2016 Q3
7 quarters
THRM icon
5
Gentherm
THRM
$1.67B
$43.4M 8.89%
1,104,391
+40,751
+4% +$1.46M
2016 Q2
8 quarters
PHX icon
6
DELISTED
PHX Minerals
PHX
$41.5M 8.51%
2,175,069
+35,923
+2% +$720K
2014 Q4
14 quarters
CECO icon
7
Ceco Environmental
CECO
$3.65B
$26.8M 5.49%
4,364,505
+76,999
+2% +$423K
2014 Q1
17 quarters
TPIC icon
8
DELISTED
TPI Composites
TPIC
$24.8M 5.08%
848,543
+480,751
+131% +$12.1M
2018 Q1
1 quarter
HCKT icon
9
Hackett Group
HCKT
$281M
$24.7M 5.07%
1,538,779
+91,387
+6% +$1.49M
2017 Q1
5 quarters
KMG
10
DELISTED
KMG Chemicals Inc
KMG
$21.6M 4.43%
293,199
-184,577
-39% -$12.4M
2013 Q2
20 quarters
PCYO icon
11
Pure Cycle
PCYO
$270M
$18.7M 3.84%
1,962,258
-21,135
-1% -$200K
2013 Q2
20 quarters
ADEA icon
12
Adeia
ADEA
$2.38B
$18M 3.68%
4,218,382
-107,809
-2% -$582K
2013 Q2
20 quarters
MODN icon
13
DELISTED
MODEL N, INC.
MODN
$13.5M 2.77%
726,252
+3,200
+0.4% +$56.4K
2016 Q3
7 quarters
DLB icon
14
Dolby
DLB
$5.51B
$12.1M 2.48%
196,087
+14,166
+8% +$901K
2016 Q4
6 quarters
QTNA
15
DELISTED
Quantenna Communications, Inc. Common Stock
QTNA
$11.5M 2.35%
736,873
+182,719
+33% +$2.73M
2017 Q4
2 quarters
SWIR
16
DELISTED
Sierra Wireless
SWIR
$8.78M 1.8%
548,554
+492,779
+884% +$8.36M
2018 Q1
1 quarter
BCOV icon
17
DELISTED
Brightcove, Inc.
BCOV
$7.66M 1.57%
793,337
+504,492
+175% +$4.65M
2018 Q1
1 quarter
BRK.B icon
18
Berkshire Hathaway Class B
BRK.B
$1.13T
$6.67M 1.37%
35,742
+1,440
+4% +$281K
2013 Q2
20 quarters
ERII icon
19
Energy Recovery
ERII
$343M
$2.29M 0.47%
+283,695
New +$2.39M
2018 Q2
0 quarters
RAMP icon
20
LiveRamp
RAMP
$2.29B
– –
-232,055
Closed -$5.27M –
TTGT icon
21
TechTarget
TTGT
$278M
– –
-1,472,456
Closed -$29.3M –
EFII
22
DELISTED
Electronics for Imaging
EFII
– –
-211,389
Closed -$5.78M –

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Trigran Investments's Q2 2018 Portfolio in Review

As of Q2 2018, Trigran Investments held 22 positions worth $488M, up 3.2% from $473M the previous quarter. Its ten largest holdings account for 80% of the portfolio.

Trigran Investments withdrew a net $23.3M in Q2 2018, closing 3 positions and reducing 5 holdings. Its most notable exit was TechTarget, an estimated $29.3M position sold in full.

By sector, the portfolio is most concentrated in Technology at 35% of assets, down from 41% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Trigran Investments opened a new position in Energy Recovery worth $2.29M.

  • Trigran Investments's largest Q2 2018 buy was Energy Recovery: 283,695 shares worth $2.29M.
  • Trigran Investments added most to TPI Composites in Q2 2018, an estimated $12.1M increase.
  • Trigran Investments's biggest Q2 2018 reduction was KMG Chemicals Inc, cutting an estimated $12.4M.
  • Trigran Investments fully exited TechTarget in Q2 2018, selling an estimated $29.3M.
  • Trigran Investments's ten largest holdings make up 80% of its $488M portfolio in Q2 2018.
  • Trigran Investments opened 1 new position and closed 3 in Q2 2018.
  • Trigran Investments's portfolio value rose 3.2% quarter-over-quarter to $488M.

Based on Trigran Investments's 13F filing for Q2 2018, filed 13 Aug 2018.