Nine Ten Capital Management LLC
Nine Ten Capital Management LLC is an SEC-registered investment adviser based in Evanston, Illinois. It was founded in 2014 and manages investments primarily for institutional clients, utilizing a focused, value-oriented investment strategy. As of early 2025, the firm has approximately 4 employees and manages several hundred million dollars in assets. Their clients include investment partnerships and institutions.
Investment Strategy
Nine Ten Capital Management LLC pursues a concentrated, value-driven strategy focused on discovering and investing in small- and mid-cap companies with strong business fundamentals, sustainable competitive advantages, and attractive risk-reward profiles. The firm conducts deep fundamental research aiming for long-term capital appreciation for its investors. Portfolio positions are typically held for extended periods, reflecting a patient and research-intensive approach rather than frequent trading.
Top Holdings
Equity Positions (8)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
M MGNI | MAGNITE INC | 20.51% | $68.9M | 2,858,583 | $11.45 | $24.12 | +$37.7M |
I IRMD | IRADIMED CORP | 15.51% | $52.1M | 872,003 | $26.64 | $59.79 | +$6.4M |
A AGYS | AGILYSYS INC | 12.39% | $41.6M | 363,239 | $59.92 | $114.64 | +$19.9M |
S SNEX | STONEX GROUP INC | 12.04% | $40.5M | 443,986 | $48.05 | $91.14 | +$1.3M |
C CLBT | CELLEBRITE DI LTD | 10.10% | $33.9M | 2,121,534 | $9.89 | $16.00 | -$4.9M |
Industry Allocation
Investment Team (3)
| Name | Role | Location | |
|---|---|---|---|
 | Research Analyst | Chicago, IL , United States | |
 | Principal | Chicago, IL , United States | |
 | Research Analyst | Chicago, IL , United States |