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Granahan Investment Management

Jun 2026 → Sep 2026 · 7 funds

Our archive holds 17 letters from Granahan Investment Management, behind 29 investment theses and positions in 73 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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17
Letters
73
Companies
57
Moves
29
Theses

7 strategies

Granahan Investment Management publishes a letter per strategy. Each one has its own page — what it holds, what it bought, what it wrote.

Returns as reported in each strategy’s latest letter, extracted automatically and not verified by us; one share class, in its own currency. Not investment advice. Past performance does not predict future returns.

What they bought and sold · 57 moves

  • TrimmedXeris Biopharma
    September 2026
    “We trimmed to manage position size.”
    Read the letter
  • TrimmedFirst Tracks Biotherapeutics
    September 2026
    “We trimmed after the advance while retaining exposure to the upcoming clinical milestone.”
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  • TrimmedMagnite
    September 2026
    “We trimmed the position while retaining exposure to the longer-term opportunity.”
    Read the letter
  • TrimmedTTM Technologies
    September 2026
    “For example, we cut Forgent (FPS), TTM Technologies (TTMI) and Onto Innovation (ONTO), and exited Modine (MOD).”
    Read the letter
  • ExitedModine
    September 2026
    “For example, we cut Forgent (FPS), TTM Technologies (TTMI) and Onto Innovation (ONTO), and exited Modine (MOD).”
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  • AddedFTAI Aviation Ltd.
    September 2026
    “Later in the quarter, share-price declines improved the prospective returns of selected holdings, prompting us to add to high-conviction positions such as Carpenter Technology and FTAI Aviation.”
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  • TrimmedGRAIL
    September 2026
    “As the shares responded, we trimmed the position to manage position size while maintaining exposure to the longer-term thesis.”
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  • TrimmedNutanix
    September 2026
    “We trimmed Nutanix after strong performance while maintaining a constructive view on recurring revenue growth and the company's long-term competitive position.”
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  • Trimmedindie Semiconductor
    September 2026
    “We trimmed the position as part of our broader reassessment of exposure and prospective return within the group.”
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  • New positionButterfly Network
    September 2026
    “Butterfly gained approximately 12% after we initiated the position.”
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  • AddedCarpenter Technology
    September 2026
    “Later in the quarter, share-price declines improved the prospective returns of selected holdings, prompting us to add to high-conviction positions such as Carpenter Technology and FTAI Aviation.”
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  • AddedLigand Pharmaceuticals
    September 2026
    “we added to the position as we gained conviction in the company.”
    Read the letter
  • TrimmedForgent Power Solutions
    September 2026
    “We cut the position meaningfully during the quarter, largely before the decline, as the expected return had compressed after the stock's run in the first half.”
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  • TrimmedZeta Global
    September 2026
    “Although we recently trimmed the position given the share price rise, ZETA remains a large holding.”
    Read the letter
  • TrimmedUnited States Antimony
    September 2026
    “We reduced the position.”
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  • TrimmedTwist Bioscience
    September 2026
    “Given the strong moves, we trimmed TWST and GRAL and started a new position in Cryoport (CYRX),”
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  • TrimmedPorch Group
    September 2026
    “We slightly trimmed the position on strength, and Porch remains our largest holding.”
    Read the letter
  • TrimmedForgent Power Solutions
    September 2026
    “We substantially reduced our position early in the period, limiting our exposure ahead of the subsequent decline and reducing the portfolio’s overall concentration in AI infrastructure.”
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  • AddedArteris
    September 2026
    “We added as the stock fell because the underlying thesis remained intact.”
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  • New positionCryoport
    September 2026
    “and started a new position in Cryoport (CYRX), which provides temperature-controlled logistics and storage for cell and gene therapies and should benefit as those therapies expand.”
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  • TrimmedRepligen
    September 2026
    “We trimmed Repligen following strong appreciation while maintaining exposure to the long-term opportunity.”
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  • TrimmedOrthoPediatrics
    September 2026
    “We trimmed after the appreciation.”
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  • New positionSilicom
    September 2026
    “We initiated Butterfly Network, Silicom, trivago and Allient;”
    Read the letter
  • AddedNextpower
    September 2026
    “We increased the position during the weakness as the lower valuation improved the prospective return relative to our long-term view of the business.”
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  • AddedAllegro MicroSystems
    September 2026
    “We increased the position during the weakness as we remained constructive on the company's long-term content growth and differentiated exposure within automotive electronics.”
    Read the letter
  • AddedFigure Technology
    September 2026
    “We added to AI-insulated businesses and underappreciated beneficiaries where we believed meaningful upside remained underpriced in such stocks as Zeta (ZETA), Figure Technology (FIGR), and Ligand Pharmaceuticals (LGND).”
    Read the letter
  • Trimmed908 Devices
    September 2026
    “We trimmed the position after its appreciation while retaining meaningful exposure.”
    Read the letter
  • TrimmedOnto Innovation
    September 2026
    “For example, we cut Forgent (FPS), TTM Technologies (TTMI) and Onto Innovation (ONTO), and exited Modine (MOD).”
    Read the letter
  • AddedDigital Turbine
    June 2026
    “We viewed the weakness as a valuation disconnect rather than a deterioration in fundamentals and increased our position accordingly.”
    Read the letter
  • AddedDescartes Systems Group
    June 2026
    “We added to the position given Descartes’ recurring revenue model, strong profitability, disciplined acquisition strategy, and ability to compound value through both organic growth and targeted M&A.”
    Read the letter

Showing the 30 most recent of 57 recorded moves.

Companies held · 73

Every company Granahan Investment Management has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 29

  • Mayville Engineering
    September 2026

    Mayville Engineering is winning new datacenter and critical power projects, with the thesis centered on converting sales growth into stronger margins and cash flow.

    Read the full thesis
  • Arteris
    September 2026

    Arteris has a growing network-on-chip intellectual property business that should benefit from rising chip complexity and data-movement demand.

    Read the full thesis
  • Victory Capital
    September 2026

    Victory Capital is a diversified asset manager with a growing ETF franchise, strong Amundi distribution, and management execution that supports attractive growth prospects.

    Read the full thesis
  • Zeta Global
    September 2026

    Zeta Global operates an AI-powered marketing cloud, with accelerating AI adoption, strong growth, and expanding partnerships that make it an underappreciated AI beneficiary.

    Read the full thesis
  • Porch Group
    September 2026

    Porch Group combines vertical software with data-driven homeowners insurance, and its reciprocal model is showing strong earnings power and long-term growth potential.

    Read the full thesis
  • FTAI Aviation
    September 2026

    FTAI Aviation sells and leases engine modules and is building an engine maintenance franchise, with the core business viewed as a long-duration compounder.

    Read the full thesis
  • Forgent Power Solutions
    September 2026

    Forgent Power Solutions makes electrical distribution equipment for data centers and power-intensive facilities, supported by record bookings and early AI infrastructure demand.

    Read the full thesis
  • indie Semiconductor
    September 2026

    indie Semiconductor designs sensing and processing chips for automotive safety systems, with growing design wins, strong revenue growth, and expected operating leverage.

    Read the full thesis
  • Repligen
    September 2026

    Repligen benefits from improving bioprocessing and life-science tools demand, with long-term upside from more biologic programs progressing toward development and manufacturing.

    Read the full thesis
  • FTAI Aviation
    September 2026

    FTAI Aviation has an aerospace aftermarket and emerging power business, with an asset-light strategy expected to improve long-term growth and returns.

    Read the full thesis
  • Forgent Power Solutions
    September 2026

    Forgent Power Solutions benefits from data-center and power-infrastructure demand, with healthy operating momentum and improved risk/reward after a valuation reset.

    Read the full thesis
  • Twist Bioscience
    September 2026

    Twist Bioscience supplies synthetic DNA for discovery and screening, with long-term upside from AI-enabled drug discovery and more development programs.

    Read the full thesis

Letter archive · 17

2026

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