AWM Investment Company, Inc. Q4 2025 Filing

Filed February 13, 2026

Portfolio Value

$1.0B

Holdings

102

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (102 positions)

#	Stock	Shares	Value	% Portfolio
1	LASRnLight, Inc.	1,169,680	$43.9M	4.24%
2	ADMAADMA Biologics, Inc.	2,200,000	$40.1M	3.87%
3	VICRVicor Corporation	333,180	$36.5M	3.53%
4	BKSYBlackSky Technology, Inc.	1,725,610	$32.4M	3.12%
5	AEHRAehr Test Systems	1,536,771	$31.0M	3.00%
6	PIImpinj, Inc.	178,173	$31.0M	2.99%
7	GILTGilat Satellite Networks, Ltd.	2,353,227	$30.4M	2.94%
8	JPXAerovironment, Inc.	118,893	$28.8M	2.78%
9	OWLTOwlet, Inc.	1,748,251	$28.3M	2.73%
10	KOPNKopin Corporation	11,844,812	$27.7M	2.68%
11	MASS908 Devices, Inc.	5,199,924	$27.3M	2.64%
12	AIOTPowerFleet, Inc.	4,701,506	$25.0M	2.42%
13	NGSNatural Gas Services Group, In	676,652	$22.8M	2.20%
14	REALThe RealReal, Inc.	1,423,847	$22.5M	2.17%
15	LPZBLightPath Technologies, Inc.	2,040,110	$22.0M	2.13%
16	AMSCAmerican Superconductor Corp	754,220	$21.7M	2.10%
17	IMDXInsight Molecular Diagnostic I	2,814,230	$21.1M	2.04%
18	MRAMEverspin Technology, Inc.	2,126,241	$19.7M	1.91%
19	MDXHMDxHealth, SA (Belgium)	5,221,282	$18.6M	1.80%
20	DFTXDefinium Therapeutics, Inc.	1,390,662	$18.6M	1.80%
21	CEVACEVA, Inc.	827,806	$17.8M	1.72%
22	ARLOArlo Technologies, Inc.	1,172,609	$16.4M	1.58%
23	VELOVelo3D, Inc. (Restricted)	1,212,121	$15.1M	1.46%
24	BLZEBackblaze, Inc.	3,067,569	$14.3M	1.38%
25	TALKTalkspace, Inc.	3,929,500	$14.3M	1.38%
26	SRTAStrata Critical Medical, Inc.	2,821,468	$13.6M	1.31%
27	SNWVSANUWAVE Health, Inc.	454,550	$13.6M	1.31%
28	RDCMRADCOM, Ltd. (Israel)	991,261	$13.0M	1.25%
29	VELOVelo3D, Inc.	940,931	$12.9M	1.25%
30	BFLYButterfly Network, Inc.	3,400,000	$12.9M	1.25%
31	GNSSGenasys, Inc. (F4)	5,649,544	$12.1M	1.17%
32	FRGEForge Global Holdings, Inc.	264,179	$11.8M	1.14%
33	ASPIASP Isotopes, Inc.	2,124,496	$11.4M	1.10%
34	UTIUniversal Technical Institute,	434,098	$11.3M	1.10%
35	ACOGAlpha Cognition, Inc.(Canada)	1,672,168	$10.9M	1.05%
36	CTRNCiti Trends, Inc.	241,657	$10.0M	0.97%
37	RANIRani Therapeutics Holdings Inc	6,500,000	$8.8M	0.85%
38	TLSITriSalus Life Sciences, Inc.	1,243,780	$8.7M	0.84%
39	DXLGDestination XL Group, Inc.	9,399,297	$8.6M	0.83%
40	GLXYGalaxy Digital, Inc.-Class A	385,000	$8.6M	0.83%
41	PEPGPepGen, Inc.	1,300,000	$8.5M	0.82%
42	REAXThe Real Brokerage, Inc.(Canad	2,230,940	$8.1M	0.79%
43	RCATRed Cat Holdings, Inc.	1,010,856	$8.0M	0.77%
44	GAMBGambling.com Group Ltd.	1,434,288	$7.8M	0.76%
45	LOVEThe Lovesac Company	500,002	$7.4M	0.71%
46	PVLAPalvella Therapeutics, Inc.	69,416	$7.3M	0.70%
47	AVDLAvadel Pharmaceutical PLC (Ire	316,189	$6.8M	0.66%
48	VITLVital Farms, Inc.	204,701	$6.5M	0.63%
49	FBRXForte Biosciences, Inc.	236,821	$6.5M	0.62%
50	DP8CervoMed, Inc.	794,634	$6.3M	0.61%
51	OOMAOoma, Inc.	499,699	$5.9M	0.57%
52	TBCHTurtle Beach Corporation	406,191	$5.7M	0.55%
53	BTBTBit Digital, Inc.	3,000,000	$5.7M	0.55%
54	RAPTRAPT Therapeutics, Inc.	162,560	$5.5M	0.53%
55	FRXFennec Pharmaceuticals, Inc.	711,869	$5.5M	0.53%
56	WYFIWhiteFiber, Inc.	329,000	$5.2M	0.50%
57	XTNTXtant Medical Holdings, Inc.	6,594,121	$5.2M	0.50%
58	PGNYProgyny, Inc.	200,000	$5.1M	0.50%
59	GRWGGrowGeneration Corp.	3,380,784	$5.1M	0.49%
60	INFUInfusystem Holdings, Inc.	561,656	$5.0M	0.49%
61	LMATLeMaitre Vascular, Inc.	62,000	$5.0M	0.49%
62	ALLTAllot Ltd. (Israel)	498,700	$4.9M	0.47%
63	ARBEArbe Robotics, Ltd.(Israel)	3,954,882	$4.7M	0.45%
64	CRNXCrinetics Pharmaceuticals, Inc	100,000	$4.7M	0.45%
65	GAIAGaia, Inc.	1,252,090	$4.5M	0.44%
66	COYACoya Therapeutics, Inc.	725,000	$4.2M	0.41%
67	RSVRReservoir Media, Inc.	551,594	$4.2M	0.40%
68	ABEOAbeona Therapeutics, Inc.	774,130	$4.1M	0.39%
69	ANROAlto Neuroscience, Inc.	225,000	$4.0M	0.39%
70	BNTCBenitec Biopharma, Inc. (Aust	282,977	$3.8M	0.37%
71	KIDSOrthoPediatrics Corporation	214,169	$3.8M	0.37%
72	GROBrazil Potash Corp. (Rest)	2,000,000	$3.8M	0.37%
73	UCTTUltra Clean Holdings, Inc.	140,440	$3.6M	0.34%
74	AVNWAviat Networks, Inc.	165,723	$3.5M	0.34%
75	51AAmerican Public Education, Inc	92,500	$3.5M	0.34%
76	ALMUAeluma, Inc.	200,000	$3.4M	0.33%
77	BLNEBeeline Holdings, Inc.	1,875,000	$3.2M	0.31%
78	ARGXargenx SE - ADR (Netherlands)	3,750	$3.2M	0.30%
79	SPIRSpire Global Inc.	418,287	$3.1M	0.30%
80	HIPOHippo Holdings, Inc.	100,000	$3.0M	0.29%
81	OPRXOptimizeRx Corporation	230,421	$2.8M	0.27%
82	INDVIndivior PLC (Great Britain)	75,605	$2.7M	0.26%
83	OPKOPKO Health, Inc.	2,100,000	$2.6M	0.26%
84	—Ideal Power, Inc.	786,094	$2.4M	0.23%
85	LENZLENZ Therapeutics, Inc.	150,000	$2.4M	0.23%
86	NXDRNextdoor Holdings, Inc.	1,000,000	$2.1M	0.20%
87	PAYSPaysign, Inc.	336,080	$1.7M	0.17%
88	NKTRNektar Therapeutics	40,000	$1.7M	0.16%
89	NKTXNkarta, Inc.	906,000	$1.7M	0.16%
90	NXTCNextCure, Inc.	117,371	$1.7M	0.16%
91	ELDNEledon Pharmaceuticals, Inc.	1,100,000	$1.7M	0.16%
92	AYTUAytu BioPharma, Inc.	619,574	$1.6M	0.16%
93	ABXAbacus Life, Inc.	177,772	$1.5M	0.15%
94	BDTXBlack Diamond Therapeutics Inc	625,000	$1.5M	0.15%
95	OVIDOvid Therapeutics, Inc.	899,200	$1.5M	0.14%
96	CNTCentury Casinos, Inc.	770,508	$1.0M	0.10%
97	SLNOSoleno Therapeutics, Inc.	20,000	$926K	0.09%
98	DHXDHI Group, Inc.	497,698	$771K	0.07%
99	SABSSAB Biotherapeutics, Inc.	200,000	$748K	0.07%
100	SERASera Prognostics, Inc.	207,382	$611K	0.06%

Page 1 of 2Next