Granahan Investment Management
Granahan Investment Management Small Cap Select
Jun 2026 → Sep 2026
Our archive holds 4 letters from this strategy, behind 6 investment theses and positions in 16 companies. Every quote below is copied verbatim from the letter it came from.
4 letters in a year — follow all of Granahan Investment Management for every strategy.
Performance
as of Sep 30, 2026 · net of fees · USD
- 1Y+43.5%index +19.4%
- 3Y · /yr+29.7%index +18.1%
- 5Y · /yr−9.4%index +12.1%
- 10Y · /yr+17.6%index +4.7%
- Inception · /yr+9.9%index +8.5%
Index: Russell 2000 Growth
| 1Y | 3Yper year | 5Yper year | 10Yper year | Since inceptionper year | |
|---|---|---|---|---|---|
| Granahan Investment Management Small Cap Select | +43.5% | +29.7% | −9.4% | +17.6% | +9.9% |
| Russell 2000 Growth | +19.4% | +18.1% | +12.1% | +4.7% | +8.5% |
Calendar years
- 2025+22.3%index +13.0%
- 2024+7.5%index +15.2%
- 2023+4.0%index +18.7%
- 2022−39.7%index −26.4%
- 2021+9.6%index +2.8%
- 2020+126%index +34.6%
- 2019+55.4%index +28.5%
- 2018−10.8%index −9.3%
- 2017+36.1%index +22.2%
- 2016+14.0%index +11.3%
Disclaimer
These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
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.
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.
Also held
Its investment theses
- Silicon MotionJun 2026Silicon Motion is a leader in NAND flash memory controllers with AI-driven multi-year growth potential and an attractive valuation.
- Dave, Inc.Jun 2026Dave, Inc. disrupts consumer banking with low-cost financial services and has strong growth and compounding potential.
- Arlo TechnologiesJun 2026Arlo Technologies is shifting toward a recurring, AI-enabled subscription model with long-term secular growth drivers.
- Nextpower Inc.Jun 2026Nextpower develops advanced solar technologies with long-term upside from electrification, AI-driven power demand, and strong execution.
- Descartes Systems GroupJun 2026Descartes Systems Group is a high-quality, recurring-revenue software business benefiting from secular supply-chain trends and an attractive valuation.
- iRhythm TechnologiesJun 2026iRhythm Technologies leads ambulatory cardiac monitoring with differentiated AI-enabled technology and multiple growth catalysts.