Docebo

DCBO • NASDAQ

Docebo is a software - application company in the technology sector on NASDAQ, led by Alessio Artuffo, with a market cap of $632.5M. As of Q3 2025, 44% of shares are held by 88 institutional investors, with WARBURG PINCUS LLC as the largest holder at 12.64%.

Chief Executive OfficerAlessio Artuffo

Market Cap$632.5M

Software - Application

Technology

Employees900.0

Websitedocebo.com

Overview

Overview of institutional ownership in DCBO as of Q3 2025 with a market cap of $785.0M

All Institutions

Institutions: 88
Value Held: $342.4M
Shares Held: 12.5M
Avg Position: $3.9M
Median Position: $484.0K

Hedge Funds

Hedge Funds: 12
Value Held: $68.6M
Shares Held: 2.5M
Avg Position: $5.7M
Median Position: $2.1M

Ownership Breakdown

Institutional (non-HF)

34.88%

$273.8M

Hedge Funds

8.74%

$68.6M

Retail & Other

56.38%

$442.6M

Based on market cap of $785.0M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in DCBO as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
WARBURG PINCUS LLC Private Equity	Jeffrey David Perlman CEO	$99.2M 7.36% of portfolio	12.64% 3.6M shares	Q2 2023 Held for 2y 5m	$1.3B
Beutel, Goodman & Co Ltd. Long Only Manager	Jackie Corneil Managing Partner	$30.5M 0.18% of portfolio	3.89% 1.1M shares	Q2 2025 Held for 5 months	$16.6B
Cat Rock Capital Management LP Hedge Fund•Long/Short	Alexander Salah Captain CEO	$29.9M 3.69% of portfolio	3.81% 1.1M shares	Q4 2020 Held for 4y 11m	$810.4M
Long Path Partners LP Private Equity	William Brennan Managing Partner	$27.7M 10.03% of portfolio	3.53% 1.0M shares	Q3 2022 Held for 3y 2m	$276.6M
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	Anthony Ryan CEO	$15.1M 0.01% of portfolio	1.93% 554.4K shares	Q1 2023 Held for 2y 8m	$158.92B
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$11.8M 0.00% of portfolio	1.51% 432.4K shares	Q3 2021 Held for 4y 2m	$571.21B
CIBC Global Asset Management Inc Long Only Manager	Eric Nmn Belanger CEO	$11.8M 0.03% of portfolio	1.50% 430.3K shares	Q4 2020 Held for 4y 11m	$34.5B
BANK OF MONTREAL /CAN/ Institution	Darryl White CEO	$10.8M 0.00% of portfolio	1.38% 395.5K shares	Q4 2020 Held for 4y 11m	$227.19B
R ROYAL BANK OF CANADA Institution	-	$10.1M 0.00% of portfolio	1.29% 370.5K shares	Q4 2020 Held for 4y 11m	$542.04B
Topline Capital Management, LLC Hedge Fund•Long/Short	Collin Mcbirney Managing Partner	$8.8M 1.69% of portfolio	1.13% 323.2K shares	Q2 2025 Held for 5 months	$523.6M

Net Capital Flow

Institutional buying and selling activity for DCBO in Q3 2025

Traded: +$21.1M
Buyers: 45
Sellers: 42
Total Bought: +$55.9M
Total Sold: −$34.8M
Avg Position: $3.3M

Biggest Buyers

Institution	Net Bought	Current Position
Beutel, Goodman & Co Ltd. Long Only Manager	+$23.7M +868.7K shares	$30.5M 1.1M shares
Topline Capital Management, LLC Hedge Fund•Long/Short	+$7.3M +268.0K shares	$8.8M 323.2K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$3.7M +134.4K shares	$11.8M 432.4K shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	+$3.2M +91.7K shares	$4.3M 120.5K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$3.0M +109.1K shares	$4.4M 160.8K shares
K K2 PRINCIPAL FUND, L.P. Institution	+$1.9M +69.8K shares	$2.2M 79.9K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	+$1.3M +46.3K shares	$1.6M 60.2K shares
RENAISSANCE GROUP LLC Long Only Manager	+$1.1M +39.2K shares	$1.1M 39.2K shares
CLARET ASSET MANAGEMENT Corp RIA/Wealth	+$958.2K +35.1K shares	$958.2K 35.1K shares
ESSEX INVESTMENT MANAGEMENT CO LLC Long Only Manager	+$919.7K +33.7K shares	$2.8M 103.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	−$4.5M −154.1K shares	Sold Off 0 shares
Long Path Partners LP Private Equity	−$4.4M −161.6K shares	$27.7M 1.0M shares
P PenderFund Capital Management Ltd. Institution	−$4.4M −151.9K shares	Sold Off 0 shares
T TFJ Management, LLC Hedge Fund•Long/Short	−$4.3M −147.1K shares	Sold Off 0 shares
D D. E. Shaw & Co., Inc. Institution	−$2.6M −96.4K shares	$6.1M 224.1K shares
Q Quadrature Capital Ltd Institution	−$2.5M −86.2K shares	Sold Off 0 shares
BANK OF AMERICA CORP /DE/ Institution	−$2.2M −78.9K shares	$1.1M 40.6K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$1.2M −43.2K shares	$2.5M 90.0K shares
MACKENZIE FINANCIAL CORP Long Only Manager	−$1.1M −41.9K shares	$8.0M 293.1K shares
M Man Group plc Institution	−$1.1M −40.8K shares	$2.5M 90.9K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited DCBO in Q3 2025

New Positions: 5
New Value: $2.7M
Exited Positions: 16
Exited Value: $18.6M

New Positions

Institution	Position Value
RENAISSANCE GROUP LLC Long Only Manager	$1.1M 39.2K shares
CLARET ASSET MANAGEMENT Corp RIA/Wealth	$958.2K 35.1K shares
P PICTON MAHONEY ASSET MANAGEMENT Institution	$356.2K 13.0K shares
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$290.7K 10.6K shares
Q Quarry LP Institution	$16.5K 604.0 shares

Exited Positions

Institution	Previous Position
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	$4.5M 154.1K shares
P PenderFund Capital Management Ltd. Institution	$4.4M 151.9K shares
T TFJ Management, LLC Hedge Fund•Long/Short	$4.3M 147.1K shares
Q Quadrature Capital Ltd Institution	$2.5M 86.2K shares
AIGEN INVESTMENT MANAGEMENT, LP Hedge Fund•Long/Short	$698.2K 18.6K shares
C CIBC World Markets Inc. Institution	$658.2K 22.7K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$427.0K 14.8K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$406.1K 14.0K shares
Stanley-Laman Group, Ltd. RIA/Wealth	$340.8K 11.8K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$222.8K 7.7K shares

Options Activity

Institutions with the largest Call and Put options positions in DCBO as of Q3 2025

Call Positions: 2
Call Value: $606.7K
Put Positions: 1
Put Value: $773.4K

Call Positions

Institution	Position Value
Walleye Trading LLC RIA/Wealth	$606.7K 222.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	- - contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$773.4K 283.0 contracts

Most Committed Institutions

Institutions with DCBO as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Long Path Partners LP Private Equity	William Brennan Managing Partner	10.03% $27.7M	3.53% 1.0M shares	Q3 2022 Held for 3y 2m	$276.6M
WARBURG PINCUS LLC Private Equity	Jeffrey David Perlman CEO	7.36% $99.2M	12.64% 3.6M shares	Q2 2023 Held for 2y 5m	$1.3B
Cat Rock Capital Management LP Hedge Fund•Long/Short	Alexander Salah Captain CEO	3.69% $29.9M	3.81% 1.1M shares	Q4 2020 Held for 4y 11m	$810.4M
Topline Capital Management, LLC Hedge Fund•Long/Short	Collin Mcbirney Managing Partner	1.69% $8.8M	1.13% 323.2K shares	Q2 2025 Held for 5 months	$523.6M
K K2 PRINCIPAL FUND, L.P. Institution	-	0.82% $2.2M	0.28% 79.9K shares	Q2 2025 Held for 5 months	$265.6M
LOUISBOURG INVESTMENTS INC. Long Only Manager	Luc Jospeh Gaudet CEO	0.66% $3.0M	0.39% 111.7K shares	Q4 2023 Held for 1y 11m	$458.4M
ESSEX INVESTMENT MANAGEMENT CO LLC Long Only Manager	Nancy Beth Prial CEO	0.43% $2.8M	0.36% 103.3K shares	Q4 2022 Held for 2y 11m	$652.5M
PCJ Investment Counsel Ltd. Long Only Manager	Timothy Michael Marzec President	0.33% $1.2M	0.15% 43.3K shares	Q1 2022 Held for 3y 8m	$359.5M
Beutel, Goodman & Co Ltd. Long Only Manager	Jackie Corneil Managing Partner	0.18% $30.5M	3.89% 1.1M shares	Q2 2025 Held for 5 months	$16.6B
CLARET ASSET MANAGEMENT Corp RIA/Wealth	Monique Elizabeth Milford Gravel CEO	0.12% $958.2K	0.12% 35.1K shares	Q3 2025 Held for 2 months	$817.2M

Hedge Fund Spotlight

Discover hedge funds investing in DCBO

Topline Capital Management, LLC

Hedge Fund • Long/Short

Portfolio ManagerCollin Mcbirney

Portfolio Value: $523.6M
Positions: 40
Last Reported: Q3 2025

Sector Allocation

Position in Docebo

Market Value: $8.8M
Shares Held: 323.2K
Portfolio Weight: 1.69%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 Green Dot GDOT	Financial - Credit Services Financial Services	$62.0M	11.84%
2 Cognyte Software CGNT	Software - Infrastructure Technology	$60.4M	11.54%
3 NerdWallet, Inc. NRDS	Financial - Credit Services Financial Services	$56.5M	10.79%