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Nine Ten Capital Management LLC — 13F Holdings & Portfolio

CIK 1635236 · latest 13F-HR filed 2026-11-12

Backtest portfolio

Nine Ten Capital Management LLC manages $49.1M in 13F-reported U.S. long-equity assets across 7 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are MGNI (18.14%), WINA (17.18%), IRMD (16.91%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 0 new positions and exited 1; 0 existing positions rose in reported value and 7 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Loading holdings…
AUM
$49.1M

Long-equity book

Holdings
7

Distinct positions

Period
2026-09-30

Filed 2026-11-12

Q/Q Activity
+0 / −1 / ↑0 / ↓7

vs 2026-06-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
MGNI18.1% · -89%WINA17.2% · -66%IRMD16.9% · -62%AGYS15.7% · -88%CLBT14.5% · -85%GPGI13.2% · -82%RHLD4.3% · -81%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q2 26 → Q3 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

5 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 100%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Sep 15, 2026.

Assets Under Management
$480.6M
Discretionary
$480.6M
Employees
3
Accounts
1
Address
20 N. WACKER DRIVE
SUITE 2825
CHICAGO, IL 60606
Phone
(847) 868-0893
Website
Name Title / Status Ownership Type
MOLLEN, RUSSELL, CHAD ControlPRESIDENT, MEMBER, AND PORTFOLIO MANAGER
since Jan 2021
50–75%Individual
Seltzer, Benjamin, Arnott ControlMEMBER, CHIEF COMPLIANCE OFFICER, CHIEF OPERATIONS OFFICER, ANALYST
since Aug 2026
25–50%Individual
Bares, Brian, TimothyMEMBER
since Mar 2014
10–25%Individual
Ownership & leadership changes · 9 filings with changes since May 6, 2014

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Sep 15, 2026 filing
  • No longer listedKATAUSKAS, MICHELLE, JOY · CHIEF COMPLIANCE OFFICER, CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Jan 2021
  • ChangedSeltzer, Benjamin, Arnott · title MEMBER, RESEARCH ANALYST → MEMBER, CHIEF COMPLIANCE OFFICER, CHIEF OPERATIONS OFFICER, ANALYST
Mar 20, 2025 filing
  • No longer listedBRADSHAW, JAMES, SHEL · MEMBER · 10–25% · listed since Mar 2014
  • ChangedBares, Brian, Timothy · ownership 25–50% → 5–10%
  • ChangedBares, Brian, Timothy · no longer a control person
  • ChangedBares, Brian, Timothy · ownership 5–10% → 10–25%
  • ChangedMOLLEN, RUSSELL, CHAD · ownership 25–50% → 50–75%
  • ChangedSeltzer, Benjamin, Arnott · ownership 10–25% → 25–50%
  • ChangedSeltzer, Benjamin, Arnott · now a control person
Mar 9, 2022 filing
  • ChangedBRADSHAW, JAMES, SHEL · no longer a control person
  • ChangedSeltzer, Benjamin, Arnott · ownership 5–10% → 10–25%
Jan 29, 2021 filing
  • AddedKATAUSKAS, MICHELLE, JOY · CHIEF COMPLIANCE OFFICER, CHIEF OPERATING OFFICER · Less than 5% · control person
  • AddedSeltzer, Benjamin, Arnott · MEMBER, RESEARCH ANALYST · 5–10%
  • ChangedBRADSHAW, JAMES, SHEL · title MEMBER, PRINCIPAL AND CHIEF COMPLIANCE OFFICER → MEMBER; ownership 25–50% → 10–25%
  • ChangedBares, Brian, Timothy · title MEMBER, PRINCIPAL AND PRESIDENT → MEMBER
  • ChangedMOLLEN, RUSSELL, CHAD · title MEMBER, PRINCIPAL, AND PORTFOLIO MANAGER → PRESIDENT, MEMBER, AND PORTFOLIO MANAGER
Mar 29, 2019 filing
  • ChangedBares, Brian, Timothy · ownership 50–75% → 25–50%
Mar 30, 2018 filing
  • ChangedBares, Brian, Timothy · ownership 75% or more → 50–75%
  • ChangedMOLLEN, RUSSELL, CHAD · ownership Less than 5% → 25–50%
Mar 30, 2016 filing
  • ChangedBRADSHAW, JAMES, SHEL · ownership 10–25% → 25–50%
Mar 26, 2015 filing
  • ChangedBRADSHAW, JAMES, SHEL · ownership 25–50% → 10–25%
  • ChangedBares, Brian, Timothy · ownership 25–50% → 75% or more
  • ChangedMOLLEN, RUSSELL, CHAD · ownership 25–50% → Less than 5%
May 15, 2014 filing
  • ChangedBRADSHAW, JAMES, SHEL · title CHIEF OPERATING OFFICER AND CHIEF COMPLIANCE OFFICER → MEMBER, PRINCIPAL AND CHIEF COMPLIANCE OFFICER
  • ChangedBares, Brian, Timothy · title PRESIDENT → MEMBER, PRINCIPAL AND PRESIDENT
  • ChangedMOLLEN, RUSSELL, CHAD · title ANALYST AND PORTFOLIO MANAGER → MEMBER, PRINCIPAL, AND PORTFOLIO MANAGER
May 6, 2014 filing (earliest on record)
  • ListedBRADSHAW, JAMES, SHEL · CHIEF OPERATING OFFICER AND CHIEF COMPLIANCE OFFICER · 25–50% · control person
  • ListedBares, Brian, Timothy · PRESIDENT · 25–50% · control person
  • ListedMOLLEN, RUSSELL, CHAD · ANALYST AND PORTFOLIO MANAGER · 25–50% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

  • No increased positions.
Show all 0 →

Top Trims

Show all 7 →

New Positions

  • No new positions this quarter.
Show all 0 →

Exited Positions

Show all 1 →

Nine Ten Capital Management LLC Holdings (2026-09-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 MAGNITE INC MGNI 55955D100 $8.9M 18.14% 352,601 SH
2 WINMARK CORP WINA 974250102 $8.4M 17.18% 28,107 SH
3 IRADIMED CORP IRMD 46266A109 $8.3M 16.91% 96,330 SH
4 AGILYSYS INC AGYS 00847J105 $7.7M 15.74% 79,603 SH
5 CELLEBRITE DI LTD CLBT M2197Q107 $7.1M 14.50% 632,493 SH
6 GPGI INC GPGI 20459V105 $6.5M 13.18% 545,219 SH
7 RESOLUTE HLDGS MGMT INC RHLD 76134H101 $2.1M 4.34% 18,020 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-11-12 $49.1M 7 0001420506-26-002599
2026-06-30 2026-08-14 $321.3M 8 0001420506-26-001694
2026-03-31 2026-05-15 $314.8M 8 0001420506-26-001037
2025-12-31 2026-02-17 $315.8M 8 0001420506-26-000473
2025-09-30 2025-11-14 $388.0M 9 0001420506-25-003247
Filer Information
Address
20 N WACKER DR
SUITE 2825
CHICAGO, IL 60606
Phone
(847) 859-5554
Filing Manager
Nine Ten Capital Management LLC
CHICAGO, IL
Signatory
Benjamin Seltzer
COO/CCO