NORTH RUN CAPITAL, LP

BOSTON, MA · CIK 1212897 · 13F filing filed 2023-02-14

SEC-registered investment adviser since 2026 · limited partnership

Assets managed$334.5m
Staff4 · 3 in investment roles
Main clients (by assets)Private funds 100%
Private funds4 · $226.8m gross assets
Websitenorthruncapital.com
Form ADV · 2026-07-07SEC adviser record

Legal entityNORTH RUN CAPITAL, LP (US)

$43.5m reported value -11.6% vs Q3 2022

25positions

74.0%in top 10

2 new 10 added 6 reduced 2 sold out vs Q3 2022

Holdings, Q4 2022

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	POWERFLEET INC COM AIOT	AIOT	2,694,646	$7.2m16.65%	16.65%	Added +328.0k	+328,024 13.9%
2	SEQUANS COMMUNICATIONS S A SPONSORED ADS SPONSORED ADS		1,270,034	$4.2m9.69%	9.69%	Added +44.9k	+44,877 3.7%
3	LENSAR INC COM LNSR	LNSR	1,096,406	$3.2m7.45%	7.45%	Added +161.9k	+161,896 17.3%
4	VARONIS SYS INC COM VRNS	VRNS	122,000	$2.9m6.71%	6.71%	Added +92.0k	+92,000 306.7%
5	AIRGAIN INC COM AIRG	AIRG	395,801	$2.6m5.92%	5.92%	Reduced -155.1k	-155,131 -28.2%
6	MAXCYTE INC COM MXCT	MXCT	451,960	$2.5m5.67%	5.67%	Reduced -105.0k	-105,000 -18.9%
7	SUMO LOGIC INC COM COM		304,510	$2.5m5.67%	5.67%	Added +19.0k	+19,000 6.7%
8	SILICOM LTD ORD SILC	SILC	57,422	$2.4m5.56%	5.56%	Reduced -88.9k	-88,938 -60.8%
9	SIMILARWEB LTD SHS SMWB	SMWB	375,000	$2.4m5.54%	5.54%	New
10	PEGASYSTEMS INC COM PEGA	PEGA	65,930	$2.3m5.19%	5.19%	Added +500	+500 0.8%
11	SCULPTOR CAP MGMT COM CL A OZM	OZM	224,106	$1.9m4.46%	4.46%	Reduced -2.1k	-2,054 -0.9%
12	OLO INC CL A OLO	OLO	189,520	$1.2m2.72%	2.72%	Reduced -12.5k	-12,500 -6.2%
13	CONSTELLIUM SE CL A SHS CSTM	CSTM	93,220	$1.1m2.53%	2.53%	Added +750	+750 0.8%
14	SANARA MEDTECH INC COM SMTI	SMTI	24,000	$1.1m2.51%	2.51%	Unchanged
15	KALEYRA INC COM COM		1,305,958	$986.1k2.27%	2.27%	Added +9.1k	+9,058 0.7%
16	SAFEGUARD SCIENTIFICS INC COM NEW COM NEW		277,728	$861.0k1.98%	1.98%	Added +450	+450 0.2%
17	CYBERARK SOFTWARE LTD SHS CYBR	CYBR	6,315	$818.7k1.88%	1.88%	Unchanged
18	NEW RELIC INC COM NEWR	NEWR	14,200	$801.6k1.84%	1.84%	Unchanged
19	STEREOTAXIS INC COM NEW STXS	STXS	322,750	$668.1k1.53%	1.53%	Added +71.6k	+71,590 28.5%
20	MAGNACHIP SEMICONDUCTOR CORP COM MX	MX	63,110	$592.6k1.36%	1.36%	Unchanged
21	CHARAH SOLUTIONS INC COM CHRA	CHRA	92,520	$499.6k1.15%	1.15%	New
22	BROOKDALE SR LIVING INC COM BKD	BKD	146,650	$400.4k0.92%	0.92%	Unchanged
23	INVACARE CORP COM IVC	IVC	443,730	$186.4k0.43%	0.43%	Unchanged
24	PFSWEB INC COM NEW PFSW	PFSW	27,330	$168.1k0.39%	0.39%	Reduced -44.6k	-44,559 -62.0%
25	KALEYRA INC W EXP 11/25/202 W EXP 11/25/202		40,372	$2.7k0.01%	0.01%	Unchanged

Sold out since Q3 2022

Security	Ticker	Shares held before	Value then
CHARAH SOLUTIONS INC		1,042,816	$1.9m1.0m shares
FORGEROCK INC		42,909	$623.0k42.9k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
LENSAR INC LNSR · 13D · filed 2025-03-25	LNSR	55.9%≈ $43.1m		13D	2025-03-25
TELA BIO INC TELA · 13G · filed 2025-05-30	TELA	9.3%≈ $2.8m	+4.3 pts	13G	2025-05-30