# EDGAR Filing Document

**Accession Number:** 0001659997
**File Stem:** 0001659997-23-000001
**Filing Date:** 2023-1
**Character Count:** 13072
**Document Hash:** 062323af14b41a48b9650e7de8bdf00f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001659997-23-000001.hdr.sgml**: 20230118

**ACCESSION NUMBER**: 0001659997-23-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230118

**DATE AS OF CHANGE**: 20230118

**EFFECTIVENESS DATE**: 20230118

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Handelsinvest Investeringsforvaltning
- **CENTRAL INDEX KEY:** 0001659997
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17159
- **FILM NUMBER:** 23532917

**BUSINESS ADDRESS:**
- **STREET 1:** ?STERGADE 2
- **CITY:** HERNING
- **STATE:** G7
- **ZIP:** 7400
- **BUSINESS PHONE:** 004597123355

**MAIL ADDRESS:**
- **STREET 1:** ?STERGADE 2
- **CITY:** HERNING
- **STATE:** G7
- **ZIP:** 7400

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** Handelsinvest Investeringsforvaltning<br>**Address:** ?STERGADE 2<br>HERNING, G7 7400

**Form 13F File Number:** 028-17159

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:** Henrik Baernholdt<br>**Title:** Controller<br>**Phone:** 004599920140

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

Henrik Baernholdt  Herning, G7  01-18-2023<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:** 93

**Form 13F Information Table Value Total:** $633583

      (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 |
| Abbott Laboratories | Common Stock | 002824100 |  | 2880 | 26234 | SH |  | SOLE |  | 26234 | 0 | 0 |
| Albemarle Corp | Common Stock | 012653101 |  | 1175 | 5419 | SH |  | SOLE |  | 5419 | 0 | 0 |
| Ameresco Inc | Common Stock | 02361E108 |  | 7907 | 138393 | SH |  | SOLE |  | 138393 | 0 | 0 |
| Evoqua Water Technologies Corp | Common Stock | 30057T105 |  | 7359 | 185824 | SH |  | SOLE |  | 185824 | 0 | 0 |
| Ashland Inc | Common Stock | 044186104 |  | 10645 | 99000 | SH |  | SOLE |  | 99000 | 0 | 0 |
| Alibaba Group Holding Ltd | ADR | 01609W102 |  | 5099 | 57891 | SH |  | SOLE |  | 57891 | 0 | 0 |
| Bright Horizons Family Solutio | Common Stock | 109194100 |  | 1568 | 24848 | SH |  | SOLE |  | 24848 | 0 | 0 |
| Baidu Inc | ADR | 056752108 |  | 458 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| Cooper Cos Inc/The | Common Stock | 216648402 |  | 15730 | 47571 | SH |  | SOLE |  | 47571 | 0 | 0 |
| Cavco Industries Inc | Common Stock | 149568107 |  | 9955 | 44000 | SH |  | SOLE |  | 44000 | 0 | 0 |
| Darling Ingredients Inc | Common Stock | 237266101 |  | 18260 | 291748 | SH |  | SOLE |  | 291748 | 0 | 0 |
| East West Bancorp Inc | Common Stock | 27579R104 |  | 14154 | 214781 | SH |  | SOLE |  | 214781 | 0 | 0 |
| Fair Isaac Corp | Common Stock | 303250104 |  | 10774 | 18000 | SH |  | SOLE |  | 18000 | 0 | 0 |
| Fidelity National Information | Common Stock | 31620M106 |  | 1777 | 26187 | SH |  | SOLE |  | 26187 | 0 | 0 |
| First Republic Bank/CA | Common Stock | 33616C100 |  | 12667 | 103917 | SH |  | SOLE |  | 103917 | 0 | 0 |
| Alphabet Inc | Common Stock | 02079K107 |  | 3767 | 42460 | SH |  | SOLE |  | 42460 | 0 | 0 |
| Graphic Packaging Holding Co | Common Stock | 388689101 |  | 18056 | 811485 | SH |  | SOLE |  | 811485 | 0 | 0 |
| Global Water Resources Inc | Common Stock | 379463102 |  | 5377 | 404900 | SH |  | SOLE |  | 404900 | 0 | 0 |
| Home Depot Inc/The | Common Stock | 437076102 |  | 1787 | 5659 | SH |  | SOLE |  | 5659 | 0 | 0 |
| HDFC Bank Ltd | ADR | 40415F101 |  | 3992 | 58364 | SH |  | SOLE |  | 58364 | 0 | 0 |
| JD.com Inc | ADR | 47215P106 |  | 4490 | 80000 | SH |  | SOLE |  | 80000 | 0 | 0 |
| Kadant Inc | Common Stock | 48282T104 |  | 7460 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| Eli Lilly  Co | Common Stock | 532457108 |  | 2472 | 6758 | SH |  | SOLE |  | 6758 | 0 | 0 |
| Loop Industries Inc | Common Stock | 543518104 |  | 383 | 160346 | SH |  | SOLE |  | 160346 | 0 | 0 |
| Grand Canyon Education Inc | Common Stock | 38526M106 |  | 1406 | 13310 | SH |  | SOLE |  | 13310 | 0 | 0 |
| Mastercard Inc | Common Stock | 57636Q104 |  | 2649 | 7618 | SH |  | SOLE |  | 7618 | 0 | 0 |
| MSA Safety Inc | Common Stock | 553498106 |  | 9372 | 65000 | SH |  | SOLE |  | 65000 | 0 | 0 |
| Microsoft Corp | Common Stock | 594918104 |  | 4700 | 19599 | SH |  | SOLE |  | 19599 | 0 | 0 |
| Vail Resorts Inc | Common Stock | 91879Q109 |  | 9892 | 41500 | SH |  | SOLE |  | 41500 | 0 | 0 |
| MasTec Inc | Common Stock | 576323109 |  | 9386 | 110000 | SH |  | SOLE |  | 110000 | 0 | 0 |
| National Bank Holdings Corp | Common Stock | 633707104 |  | 9150 | 217500 | SH |  | SOLE |  | 217500 | 0 | 0 |
| Nasdaq Inc | Common Stock | 631103108 |  | 2713 | 44214 | SH |  | SOLE |  | 44214 | 0 | 0 |
| Sunnova Energy International I | Common Stock | 86745K104 |  | 976 | 54179 | SH |  | SOLE |  | 54179 | 0 | 0 |
| Napco Security Technologies In | Common Stock | 630402105 |  | 7692 | 279905 | SH |  | SOLE |  | 279905 | 0 | 0 |
| NetEase Inc | ADR | 64110W102 |  | 3450 | 47500 | SH |  | SOLE |  | 47500 | 0 | 0 |
| NVIDIA Corp | Common Stock | 67066G104 |  | 1402 | 9591 | SH |  | SOLE |  | 9591 | 0 | 0 |
| Prosperity Bancshares Inc | Common Stock | 743606105 |  | 12719 | 175000 | SH |  | SOLE |  | 175000 | 0 | 0 |
| Park City Group Inc | Common Stock | 700215304 |  | 2277 | 460000 | SH |  | SOLE |  | 460000 | 0 | 0 |
| Planet Fitness Inc | Common Stock | 72703H101 |  | 11190 | 142000 | SH |  | SOLE |  | 142000 | 0 | 0 |
| Insulet Corp | Common Stock | 45784P101 |  | 4651 | 15800 | SH |  | SOLE |  | 15800 | 0 | 0 |
| Pool Corp | Common Stock | 73278L105 |  | 18385 | 60812 | SH |  | SOLE |  | 60812 | 0 | 0 |
| Service Corp International/US | Common Stock | 817565104 |  | 23942 | 346284 | SH |  | SOLE |  | 346284 | 0 | 0 |
| SolarEdge Technologies Inc | Common Stock | 83417M104 |  | 9448 | 33354 | SH |  | SOLE |  | 33354 | 0 | 0 |
| Sprouts Farmers Market Inc | Common Stock | 85208M102 |  | 2458 | 75935 | SH |  | SOLE |  | 75935 | 0 | 0 |
| Simply Good Foods Co/The | Common Stock | 82900L102 |  | 11029 | 290000 | SH |  | SOLE |  | 290000 | 0 | 0 |
| Trip.com Group Ltd | ADR | 89677Q107 |  | 172 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| Thermo Fisher Scientific Inc | Common Stock | 883556102 |  | 2673 | 4854 | SH |  | SOLE |  | 4854 | 0 | 0 |
| Trex Co Inc | Common Stock | 89531P105 |  | 951 | 22460 | SH |  | SOLE |  | 22460 | 0 | 0 |
| TSMC | ADR | 874039100 |  | 2130 | 28594 | SH |  | SOLE |  | 28594 | 0 | 0 |
| Tyler Technologies Inc | Common Stock | 902252105 |  | 11832 | 36700 | SH |  | SOLE |  | 36700 | 0 | 0 |
| UnitedHealth Group Inc | Common Stock | 91324P102 |  | 4469 | 8430 | SH |  | SOLE |  | 8430 | 0 | 0 |
| Veeva Systems Inc | Common Stock | 922475108 |  | 1289 | 7989 | SH |  | SOLE |  | 7989 | 0 | 0 |
| Western Alliance Bancorp | Common Stock | 957638109 |  | 7147 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| Watsco Inc | Common Stock | 942622200 |  | 14964 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| Xylem Inc/NY | Common Stock | 98419M100 |  | 2451 | 22168 | SH |  | SOLE |  | 22168 | 0 | 0 |
| YETI Holdings Inc | Common Stock | 98585X104 |  | 7114 | 172227 | SH |  | SOLE |  | 172227 | 0 | 0 |
| Apple Inc | Common Stock | 037833100 |  | 3117 | 23988 | SH |  | SOLE |  | 23988 | 0 | 0 |
| Infosys Ltd | ADR | 456788108 |  | 1801 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| Advanced Drainage Systems Inc | Common Stock | 00790R104 |  | 9181 | 112000 | SH |  | SOLE |  | 112000 | 0 | 0 |
| Pinduoduo Inc | ADR | 722304102 |  | 1957 | 24000 | SH |  | SOLE |  | 24000 | 0 | 0 |
| ZTO Express Cayman Inc | ADR | 98980A105 |  | 672 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| Energy Recovery Inc | Common Stock | 29270J100 |  | 5104 | 249100 | SH |  | SOLE |  | 249100 | 0 | 0 |
| Dynatrace Inc | Common Stock | 268150109 |  | 7086 | 185000 | SH |  | SOLE |  | 185000 | 0 | 0 |
| Paya Holdings Inc | Common Stock | 70434P103 |  | 6296 | 800000 | SH |  | SOLE |  | 800000 | 0 | 0 |
| Clean Harbors Inc | Common Stock | 184496107 |  | 15634 | 137000 | SH |  | SOLE |  | 137000 | 0 | 0 |
| Brunswick Corp/DE | Common Stock | 117043109 |  | 10452 | 145000 | SH |  | SOLE |  | 145000 | 0 | 0 |
| Regeneron Pharmaceuticals Inc | Common Stock | 75886F107 |  | 3078 | 4266 | SH |  | SOLE |  | 4266 | 0 | 0 |
| Verra Mobility Corp | Common Stock | 92511U102 |  | 8787 | 635384 | SH |  | SOLE |  | 635384 | 0 | 0 |
| Intuit Inc | Common Stock | 461202103 |  | 1839 | 4724 | SH |  | SOLE |  | 4724 | 0 | 0 |
| Quanta Services Inc | Common Stock | 74762E102 |  | 3159 | 22168 | SH |  | SOLE |  | 22168 | 0 | 0 |
| Option Care Health Inc | Common Stock | 68404L201 |  | 6114 | 203200 | SH |  | SOLE |  | 203200 | 0 | 0 |
| WillScot Mobile Mini Holdings | Common Stock | 971378104 |  | 7539 | 166900 | SH |  | SOLE |  | 166900 | 0 | 0 |
| Paylocity Holding Corp | Common Stock | 70438V106 |  | 9519 | 49000 | SH |  | SOLE |  | 49000 | 0 | 0 |
| TechTarget Inc | Common Stock | 87874R100 |  | 3172 | 72000 | SH |  | SOLE |  | 72000 | 0 | 0 |
| Tradeweb Markets Inc | Common Stock | 892672106 |  | 10843 | 167000 | SH |  | SOLE |  | 167000 | 0 | 0 |
| CyberArk Software Ltd | Common Stock | M2682V108 |  | 4149 | 32000 | SH |  | SOLE |  | 32000 | 0 | 0 |
| AMN Healthcare Services Inc | Common Stock | 001744101 |  | 8637 | 84000 | SH |  | SOLE |  | 84000 | 0 | 0 |
| Comfort Systems USA Inc | Common Stock | 199908104 |  | 5409 | 47000 | SH |  | SOLE |  | 47000 | 0 | 0 |
| Etsy Inc | Common Stock | 29786A106 |  | 5510 | 46000 | SH |  | SOLE |  | 46000 | 0 | 0 |
| Molina Healthcare Inc | Common Stock | 60855R100 |  | 14530 | 44000 | SH |  | SOLE |  | 44000 | 0 | 0 |
| National Instruments Corp | Common Stock | 636518102 |  | 11218 | 304000 | SH |  | SOLE |  | 304000 | 0 | 0 |
| Applied Industrial Technologie | Common Stock | 03820C105 |  | 11710 | 92916 | SH |  | SOLE |  | 92916 | 0 | 0 |
| Bentley Systems Inc | Common Stock | 08265T208 |  | 10903 | 295000 | SH |  | SOLE |  | 295000 | 0 | 0 |
| Bio-Techne Corp | Common Stock | 09073M104 |  | 11106 | 134000 | SH |  | SOLE |  | 134000 | 0 | 0 |
| Carlisle Cos Inc | Common Stock | 142339100 |  | 9426 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| Harmony Biosciences Holdings I | Common Stock | 413197104 |  | 2755 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| KB Home | Common Stock | 48666K109 |  | 6689 | 210000 | SH |  | SOLE |  | 210000 | 0 | 0 |
| Pinnacle Financial Partners In | Common Stock | 72346Q104 |  | 10129 | 138000 | SH |  | SOLE |  | 138000 | 0 | 0 |
| Reinsurance Group of America I | Common Stock | 759351604 |  | 12078 | 85000 | SH |  | SOLE |  | 85000 | 0 | 0 |
| SiteOne Landscape Supply Inc | Common Stock | 82982L103 |  | 7626 | 65000 | SH |  | SOLE |  | 65000 | 0 | 0 |
| AGCO Corp | Common Stock | 001084102 |  | 832 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| Keysight Technologies Inc | Common Stock | 49338L103 |  | 1710 | 9996 | SH |  | SOLE |  | 9996 | 0 | 0 |
| Rockwell Automation Inc | Common Stock | 773903109 |  | 1545 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |

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