# EDGAR Filing Document

**Accession Number:** 0001512022
**File Stem:** 0001512022-25-000006
**Filing Date:** 2025-7
**Character Count:** 12803
**Document Hash:** 8177fc77ab41e4657c45504006ad3daf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001512022-25-000006.hdr.sgml**: 20250722

**ACCESSION NUMBER**: 0001512022-25-000006

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250722

**DATE AS OF CHANGE**: 20250722

**EFFECTIVENESS DATE**: 20250722

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Herald Investment Management Ltd
- **CENTRAL INDEX KEY:** 0001512022

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14180
- **FILM NUMBER:** 251139290

**BUSINESS ADDRESS:**
- **STREET 1:** 10-11 CHARTERHOUSE SQUARE
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** EC1M 6EE
- **BUSINESS PHONE:** 0207 553 6308

**MAIL ADDRESS:**
- **STREET 1:** 10-11 CHARTERHOUSE SQUARE
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** EC1M 6EE

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Herald Investment Management Ltd<br>**Address:** 10-11 CHARTERHOUSE SQUARE<br>LONDON, X0 EC1M 6EE

**Form 13F File Number:** 028-14180

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** ANDREW MILLER<br>**Title:** FINANCE MANAGER<br>**Phone:** 00442075536300

**Signature, Place, and Date of Signing:**

ANDREW MILLER  LONDON, X0  07-22-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 94

**Form 13F Information Table Value Total:** $674263244

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADTRAN Holdings Inc | COM | 00486H105 |  | 1792000 | 200000 | SH |  | SOLE | 0 | 200000 | 0 | 0 |
| Advanced Micro Devices Inc | COM | 007903107 |  | 4387239 | 30920 | SH |  | SOLE | 0 | 30920 | 0 | 0 |
| Alkami Technology Inc | COM | 01644J108 |  | 5425200 | 180000 | SH |  | SOLE | 0 | 180000 | 0 | 0 |
| Alphabet Inc | COM | 02079K305 |  | 8844738 | 50200 | SH |  | SOLE | 0 | 50200 | 0 | 0 |
| Amazon.com Inc | COM | 023135106 |  | 10178304 | 46400 | SH |  | SOLE | 0 | 46400 | 0 | 0 |
| Apple Inc | COM | 037833100 |  | 4183020 | 20400 | SH |  | SOLE | 0 | 20400 | 0 | 0 |
| Arista Networks Inc | COM | 040413205 |  | 2322891 | 22700 | SH |  | SOLE | 0 | 22700 | 0 | 0 |
| Arlo Technologies Inc | COM | 04206A101 |  | 21645150 | 1277000 | SH |  | SOLE | 0 | 1277000 | 0 | 0 |
| Arrow Electronics Inc | COM | 042735100 |  | 1937544 | 15200 | SH |  | SOLE | 0 | 15200 | 0 | 0 |
| Arteris Inc | COM | 04302A104 |  | 2859000 | 300000 | SH |  | SOLE | 0 | 300000 | 0 | 0 |
| AvePoint Inc | COM | 053604104 |  | 13517000 | 700000 | SH |  | SOLE | 0 | 700000 | 0 | 0 |
| Aviat Networks Inc | COM | 05366Y201 |  | 3724650 | 155000 | SH |  | SOLE | 0 | 155000 | 0 | 0 |
| AvidXchange Holdings Inc | COM | 05368X102 |  | 4895000 | 500000 | SH |  | SOLE | 0 | 500000 | 0 | 0 |
| Aware Inc/MA | COM | 05453N100 |  | 808400 | 430000 | SH |  | SOLE | 0 | 430000 | 0 | 0 |
| Bandwidth Inc | COM | 05988J103 |  | 3339000 | 210000 | SH |  | SOLE | 0 | 210000 | 0 | 0 |
| Bel Fuse Inc | COM | 077347300 |  | 2930700 | 30000 | SH |  | SOLE | 0 | 30000 | 0 | 0 |
| Bel Fuse Inc | COM | 077347201 |  | 669825 | 7500 | SH |  | SOLE | 0 | 7500 | 0 | 0 |
| BigCommerce Holdings Inc | COM | 08975P108 |  | 3125000 | 625000 | SH |  | SOLE | 0 | 625000 | 0 | 0 |
| Cadence Design Systems Inc | COM | 127387108 |  | 769900 | 2500 | SH |  | SOLE | 0 | 2500 | 0 | 0 |
| Celestica Inc | COM | 15101Q207 |  | 60999991 | 390700 | SH |  | SOLE | 0 | 390700 | 0 | 0 |
| Ceva Inc | COM | 157210105 |  | 8780000 | 400000 | SH |  | SOLE | 0 | 400000 | 0 | 0 |
| Check Point Software Technologies Ltd | COM | 162825103 |  | 2035040 | 9200 | SH |  | SOLE | 0 | 9200 | 0 | 0 |
| CI Inc | COM | G21307106 |  | 2682000 | 450000 | SH |  | SOLE | 0 | 450000 | 0 | 0 |
| Climb Global Solutions Inc | COM | 946760105 |  | 4815000 | 45000 | SH |  | SOLE | 0 | 45000 | 0 | 0 |
| Cogent Communications Holdings Inc | COM | 19239V302 |  | 10008396 | 207600 | SH |  | SOLE | 0 | 207600 | 0 | 0 |
| Couchbase Inc | COM | 22207T101 |  | 4876000 | 200000 | SH |  | SOLE | 0 | 200000 | 0 | 0 |
| CyberArk Software Ltd | COM | M2682V108 |  | 17199180 | 42300 | SH |  | SOLE | 0 | 42300 | 0 | 0 |
| Descartes Systems Group Inc/The | COM | 249906108 |  | 18790450 | 185000 | SH |  | SOLE | 0 | 185000 | 0 | 0 |
| Digi International Inc | COM | 253798102 |  | 2788000 | 80000 | SH |  | SOLE | 0 | 80000 | 0 | 0 |
| Digital Turbine Inc | COM | 25400W102 |  | 3534000 | 600000 | SH |  | SOLE | 0 | 600000 | 0 | 0 |
| Dynatrace Inc | COM | 268150109 |  | 2758500 | 50000 | SH |  | SOLE | 0 | 50000 | 0 | 0 |
| Electrovaya Inc | COM | 28617B606 |  | 4313650 | 1265000 | SH |  | SOLE | 0 | 1265000 | 0 | 0 |
| Everspin Technologies Inc | COM | 30041T104 |  | 4239000 | 675000 | SH |  | SOLE | 0 | 675000 | 0 | 0 |
| Fabrinet | COM | G3323L100 |  | 45517332 | 154600 | SH |  | SOLE | 0 | 154600 | 0 | 0 |
| FARO Technologies Inc | COM | 311642102 |  | 3513600 | 80000 | SH |  | SOLE | 0 | 80000 | 0 | 0 |
| First Advantage Corp | COM | 31846B108 |  | 5778171 | 347873 | SH |  | SOLE | 0 | 347873 | 0 | 0 |
| Five9 Inc | COM | 338307101 |  | 6927280 | 262000 | SH |  | SOLE | 0 | 262000 | 0 | 0 |
| FormFactor Inc | COM | 346375108 |  | 4064788 | 118300 | SH |  | SOLE | 0 | 118300 | 0 | 0 |
| Forrester Research Inc | COM | 346563109 |  | 1483500 | 150000 | SH |  | SOLE | 0 | 150000 | 0 | 0 |
| Franklin Covey Co | COM | 353469109 |  | 3991750 | 175000 | SH |  | SOLE | 0 | 175000 | 0 | 0 |
| Freightos Ltd | COM | 514051013 |  | 1200000 | 500000 | SH |  | SOLE | 0 | 500000 | 0 | 0 |
| Freshworks Inc | COM | 358054104 |  | 1341000 | 90000 | SH |  | SOLE | 0 | 90000 | 0 | 0 |
| Genasys Inc | COM | 36872P103 |  | 1297500 | 750000 | SH |  | SOLE | 0 | 750000 | 0 | 0 |
| Harmonic Inc | COM | 413160102 |  | 7426100 | 785000 | SH |  | SOLE | 0 | 785000 | 0 | 0 |
| HealthStream Inc | COM | 42222N103 |  | 5251600 | 190000 | SH |  | SOLE | 0 | 190000 | 0 | 0 |
| Himax Technologies Inc | ADR | 43289P106 |  | 2053900 | 230000 | SH |  | SOLE | 0 | 230000 | 0 | 0 |
| Intel Corp | COM | 458140100 |  | 425220 | 19000 | SH |  | SOLE | 0 | 19000 | 0 | 0 |
| Intellicheck Inc | COM | 45817G201 |  | 5350000 | 1000000 | SH |  | SOLE | 0 | 1000000 | 0 | 0 |
| Inuvo Inc | COM | 46122W303 |  | 2662275 | 577500 | SH |  | SOLE | 0 | 577500 | 0 | 0 |
| Issuer Direct Corp | COM | 46520M204 |  | 1062000 | 90000 | SH |  | SOLE | 0 | 90000 | 0 | 0 |
| JFrog Ltd | COM | M6191J100 |  | 10962500 | 250000 | SH |  | SOLE | 0 | 250000 | 0 | 0 |
| Kopin Corp | COM | 500600101 |  | 2333200 | 1535000 | SH |  | SOLE | 0 | 1535000 | 0 | 0 |
| Kulicke  Soffa Industries Inc | COM | 501242101 |  | 10245060 | 296100 | SH |  | SOLE | 0 | 296100 | 0 | 0 |
| Kyndryl Holdings Inc | COM | 50155Q100 |  | 2811320 | 67000 | SH |  | SOLE | 0 | 67000 | 0 | 0 |
| Lantronix Inc | COM | 516548203 |  | 2574000 | 900000 | SH |  | SOLE | 0 | 900000 | 0 | 0 |
| Leonardo DRS Inc | COM | 52661A108 |  | 13944000 | 300000 | SH |  | SOLE | 0 | 300000 | 0 | 0 |
| Mesa Laboratories Inc | COM | 59064R109 |  | 1177500 | 12500 | SH |  | SOLE | 0 | 12500 | 0 | 0 |
| Micron Technology Inc | COM | 595112103 |  | 4434480 | 36000 | SH |  | SOLE | 0 | 36000 | 0 | 0 |
| Microsoft Corp | COM | 594918104 |  | 12080259 | 24300 | SH |  | SOLE | 0 | 24300 | 0 | 0 |
| M-Tron Industries Inc | COM | 55380K109 |  | 1458800 | 35000 | SH |  | SOLE | 0 | 35000 | 0 | 0 |
| N-Able Inc | COM | 62878D100 |  | 3341170 | 413000 | SH |  | SOLE | 0 | 413000 | 0 | 0 |
| nLight Inc | COM | 65487K100 |  | 5109000 | 260000 | SH |  | SOLE | 0 | 260000 | 0 | 0 |
| Onespan Inc | COM | 68287N100 |  | 3332000 | 200000 | SH |  | SOLE | 0 | 200000 | 0 | 0 |
| Ooma Inc | COM | 683416101 |  | 3354000 | 260000 | SH |  | SOLE | 0 | 260000 | 0 | 0 |
| Ouster Inc | COM | 68989M202 |  | 4846000 | 200000 | SH |  | SOLE | 0 | 200000 | 0 | 0 |
| PDF Solutions Inc | COM | 693282105 |  | 4268000 | 200000 | SH |  | SOLE | 0 | 200000 | 0 | 0 |
| Pegasystems Inc | COM | 705573103 |  | 38085868 | 703600 | SH |  | SOLE | 0 | 703600 | 0 | 0 |
| Power Integrations Inc | COM | 739276103 |  | 2123060 | 38000 | SH |  | SOLE | 0 | 38000 | 0 | 0 |
| Qualys Inc | COM | 74758T303 |  | 9280700 | 65000 | SH |  | SOLE | 0 | 65000 | 0 | 0 |
| QuickLogic Corp | COM | 74837P405 |  | 4469919 | 730379 | SH |  | SOLE | 0 | 730379 | 0 | 0 |
| RADCOM Ltd | COM | M81865111 |  | 3704250 | 275000 | SH |  | SOLE | 0 | 275000 | 0 | 0 |
| RADWARE Ltd | COM | M81873107 |  | 19811250 | 675000 | SH |  | SOLE | 0 | 675000 | 0 | 0 |
| Red Violet Inc | COM | 75704L104 |  | 9840000 | 200000 | SH |  | SOLE | 0 | 200000 | 0 | 0 |
| Ribbon Communications Inc | COM | 762544104 |  | 3660605 | 912869 | SH |  | SOLE | 0 | 912869 | 0 | 0 |
| Rimini Street Inc | COM | 76674Q107 |  | 3204500 | 850000 | SH |  | SOLE | 0 | 850000 | 0 | 0 |
| Silicom Ltd | COM | M84116108 |  | 1906250 | 125000 | SH |  | SOLE | 0 | 125000 | 0 | 0 |
| Silicon Motion Technology Corp | ADR | 82706C108 |  | 28864101 | 384906 | SH |  | SOLE | 0 | 384906 | 0 | 0 |
| SimilarWeb Ltd | COM | M84137104 |  | 4710000 | 600000 | SH |  | SOLE | 0 | 600000 | 0 | 0 |
| Spire Global Inc | COM | 848560306 |  | 4596363 | 386249 | SH |  | SOLE | 0 | 386249 | 0 | 0 |
| SPS Commerce Inc | COM | 78463M107 |  | 6464275 | 47500 | SH |  | SOLE | 0 | 47500 | 0 | 0 |
| Super Micro Computer Inc | COM | 86800U302 |  | 36962955 | 754500 | SH |  | SOLE | 0 | 754500 | 0 | 0 |
| Tecogen Inc/Waltham MA | COM | 87876P201 |  | 2192963 | 321078 | SH |  | SOLE | 0 | 321078 | 0 | 0 |
| Teradyne Inc | COM | 880770102 |  | 1851940 | 20600 | SH |  | SOLE | 0 | 20600 | 0 | 0 |
| Texas Instruments Inc | COM | 882508104 |  | 850791 | 4100 | SH |  | SOLE | 0 | 4100 | 0 | 0 |
| Tower Semiconductor Ltd | COM | M87915274 |  | 8569440 | 198000 | SH |  | SOLE | 0 | 198000 | 0 | 0 |
| TTEC Holdings Inc | COM | 89854H102 |  | 673400 | 140000 | SH |  | SOLE | 0 | 140000 | 0 | 0 |
| UiPath Inc | COM | 90364P105 |  | 2062771 | 161280 | SH |  | SOLE | 0 | 161280 | 0 | 0 |
| Valens Semiconductor Ltd | COM | M9607U115 |  | 2489000 | 950000 | SH |  | SOLE | 0 | 950000 | 0 | 0 |
| Varonis Systems Inc | COM | 922280102 |  | 22489885 | 443500 | SH |  | SOLE | 0 | 443500 | 0 | 0 |
| Veeco Instruments Inc | COM | 922417100 |  | 4064000 | 200000 | SH |  | SOLE | 0 | 200000 | 0 | 0 |
| Vertex Inc | COM | 92538J106 |  | 3886300 | 110000 | SH |  | SOLE | 0 | 110000 | 0 | 0 |
| Vicor Corp | COM | 925815102 |  | 10425900 | 230000 | SH |  | SOLE | 0 | 230000 | 0 | 0 |
| Vishay Precision Group Inc | COM | 92835K103 |  | 4212000 | 150000 | SH |  | SOLE | 0 | 150000 | 0 | 0 |
| Zoom Communications Inc | COM | 98980L101 |  | 2019685 | 25910 | SH |  | SOLE | 0 | 25910 | 0 | 0 |

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