WESTERLY CAPITAL MANAGEMENT, LLC

Hedge Fund • Long/Short

WESTERLY CAPITAL MANAGEMENT, LLC is a Long/Short Hedge Fund based in San Francisco, CA led by Christopher James Galvin, managing $315.2M across 39 long positions as of Q3 2025 with 46% Technology concentration, 55% concentrated in top 10 holdings, and 46% technology allocation.

Managing PartnerChristopher James Galvin

Portfolio Value: $315.2M
Positions: 39
Top Holding: VIAV at 8.05%
Last Reported: Q3 2025

Address201 Mission Street, Suite 580, San Francisco, CA, 94105, United States

Top Holdings

Largest long holdings in WESTERLY CAPITAL MANAGEMENT, LLC's portfolio (54.6% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Viavi Solutions Inc. VIAV	Communication Equipment Technology	$25.4M	8.05%	-$2.2M Sold	0.90% 2.0M shares	Q4 2023 Held for 1y 11m
2 Pros Holdings PRO	Software - Application Technology	$21.8M	6.90%	-$1.1M Sold	1.97% 949.8K shares	Q3 2024 Held for 1y 2m
3 Lumen Technologies LUMN	Telecommunications Services Communication Services	$21.4M	6.79%	+$5.8M Bought	0.34% 3.5M shares	Q4 2024 Held for 11 months
4 Hudson Technologies HDSN	Chemicals - Specialty Basic Materials	$18.8M	5.95%	-$1.1M Sold	4.33% 1.9M shares	Q4 2021 Held for 3y 11m
5 Udemy, Inc. UDMY	Education & Training Services Consumer Defensive	$15.9M	5.04%	+$15.9M New	1.51% 2.3M shares	Q3 2025 Held for 2 months
6 Marvell Technology, Inc. MRVL	Semiconductors Technology	$15.1M	4.80%	+$7.6M Bought	0.02% 180.0K shares	Q1 2023 Held for 2y 8m
7 Arteris, Inc. AIP	Semiconductors Technology	$14.4M	4.57%	+$7.5M Bought	3.34% 1.4M shares	Q4 2022 Held for 2y 11m
8 Matrix Service Company MTRX	Engineering & Construction Industrials	$14.4M	4.56%	+$3.7M Bought	3.92% 1.1M shares	Q4 2022 Held for 2y 11m
9 Bloom Energy BE	Electrical Equipment & Parts Industrials	$12.7M	4.02%	+$12.7M New	0.06% 150.0K shares	Q3 2025 Held for 2 months
10 TransAlta TAC	Independent Power Producers Utilities	$12.3M	3.90%	+$1.8M Bought	0.30% 900.0K shares	Q2 2025 Held for 5 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in WESTERLY CAPITAL MANAGEMENT, LLC's latest filing

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Market Value

$315.2M

Prior: $235.4M

Q/Q Change

+33.92%

+$79.8M

Net Flows % of MV

+6.43%

Turnover Ratio

26.68%

New Purchases

5 stocks

$33.9M

Added To

15 stocks

+$49.1M

Sold Out Of

7 stocks

$33.1M

Reduced Holdings

12 stocks

-$29.6M

Increased Positions

Position	Shares Δ	Change
1 Udemy, Inc. UDMY	New	0 → 2.3M +$15.9M
2 Bloom Energy BE	New	0 → 150.0K +$12.7M
3 First Solar FSLR	New	0 → 16.0K +$3.5M
4 BILL Holdings BILL	New	0 → 30.0K +$1.6M
5 Orion Group Holdings ORN	New	0 → 25.0K +$208.0K

Decreased Positions

Position	Shares Δ	Change
1 Affirm Holdings, Inc. AFRM	Sold	155.0K → 0 −$10.7M
2 Ciena CIEN	Sold	110.0K → 0 −$8.9M
3 Vimeo, Inc. VMEO	Sold	1.5M → 0 −$6.1M
4 MGM Resorts International MGM	Sold	120.0K → 0 −$4.1M
5 Teradyne, Inc. TER	Sold	25.0K → 0 −$2.2M