# EDGAR Filing Document

**Accession Number:** 0001320168
**File Stem:** 0001104659-25-112700
**Filing Date:** 2025-11
**Character Count:** 10536
**Document Hash:** 669d6a81999898edbbb60726468e2f29
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-112700.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0001104659-25-112700

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**EFFECTIVENESS DATE**: 20251114

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN CAPITAL MANAGEMENT INC
- **CENTRAL INDEX KEY:** 0001320168

**ORGANIZATION NAME:**
- **EIN:** 133008848
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11313
- **FILM NUMBER:** 251487896

**BUSINESS ADDRESS:**
- **STREET 1:** 575 LEXINGTON AVENUE
- **STREET 2:** 30TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-344-3300

**MAIL ADDRESS:**
- **STREET 1:** 575 LEXINGTON AVENUE
- **STREET 2:** 30TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**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:** AMERICAN CAPITAL MANAGEMENT INC<br>**Address:** 575 Lexington Avenue<br>30th Floor<br>New York, NY 10022

**Form 13F File Number:** 028-11313

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:** Michael Meagher<br>**Title:** Chief Compliance Officer<br>**Phone:** 212-344-3300

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

/s/ Michael Meagher  New York, NY  11-14-2025<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:** 68

**Form 13F Information Table Value Total:** $2510109805

      (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 |
| AAON INC | COM | 000360206 |  | 22841034 | 244446 | SH |  | SOLE |  | 131688 | 0 | 112758 |
| ACI WORLDWIDE INC | COM | 004498101 |  | 971496 | 18410 | SH |  | SOLE |  | 410 | 0 | 18000 |
| AEROVIRONMENT INC | COM | 008073108 |  | 227070328 | 721110 | SH |  | SOLE |  | 306194 | 0 | 414916 |
| ALARM.COM HOLDINGS INC | COM | 011642105 |  | 4653152 | 87663 | SH |  | SOLE |  | 7279 | 0 | 80384 |
| APPLE INC | COM | 037833100 |  | 712964 | 2800 | SH |  | SOLE |  | 0 | 0 | 2800 |
| AZENTA INC | COM | 114340102 |  | 23818070 | 829320 | SH |  | SOLE |  | 399079 | 0 | 430241 |
| BIO-TECHNE CORP | COM | 09073M104 |  | 53429667 | 960447 | SH |  | SOLE |  | 390098 | 0 | 570349 |
| BLACKBAUD INC | COM | 09227Q100 |  | 884841 | 13759 | SH |  | SOLE |  | 10420 | 0 | 3339 |
| CERENCE INC | COM | 156727109 |  | 33381050 | 2679057 | SH |  | SOLE |  | 1466002 | 0 | 1213055 |
| COGNEX CORP | COM | 192422103 |  | 16756062 | 369891 | SH |  | SOLE |  | 125233 | 0 | 244658 |
| COGNYTE SOFTWARE LTD | COM | M25133105 |  | 56716481 | 6751962 | SH |  | SOLE |  | 3112370 | 0 | 3639592 |
| COMMVAULT SYSTEMS INC | COM | 204166102 |  | 100886486 | 534413 | SH |  | SOLE |  | 260328 | 0 | 274085 |
| COSTAR GROUP INC | COM | 22160N109 |  | 66961432 | 793664 | SH |  | SOLE |  | 340794 | 0 | 452870 |
| CYBERARK SOFTWARE LTD | COM | M2682V108 |  | 169092837 | 349980 | SH |  | SOLE |  | 129203 | 0 | 220777 |
| DESCARTES SYSTEMS GROUP INC (THE) | COM | 249906108 |  | 1053209 | 11177 | SH |  | SOLE |  | 2818 | 0 | 8359 |
| DEXCOM INC | COM | 252131107 |  | 24075689 | 357790 | SH |  | SOLE |  | 151225 | 0 | 206565 |
| DORMAN PRODUCTS INC | COM | 258278100 |  | 3173405 | 20358 | SH |  | SOLE |  | 2358 | 0 | 18000 |
| FACTSET RESEARCH SYSTEMS INC | COM | 303075105 |  | 44493043 | 155304 | SH |  | SOLE |  | 56879 | 0 | 98425 |
| FORTINET INC | COM | 34959E109 |  | 80999141 | 963358 | SH |  | SOLE |  | 260906 | 0 | 702452 |
| FRANKLIN ELECTRIC CO INC | COM | 353514102 |  | 2094400 | 22000 | SH |  | SOLE |  | 0 | 0 | 22000 |
| GENTEX CORP | COM | 371901109 |  | 16895270 | 597006 | SH |  | SOLE |  | 229000 | 0 | 368006 |
| GLOBUS MEDICAL INC | COM | 379577208 |  | 28581109 | 499059 | SH |  | SOLE |  | 242416 | 0 | 256643 |
| GRAHAM CORP | COM | 384556106 |  | 2219552 | 40429 | SH |  | SOLE |  | 869 | 0 | 39560 |
| GUIDEWIRE SOFTWARE INC | COM | 40171V100 |  | 76332369 | 332082 | SH |  | SOLE |  | 129700 | 0 | 202382 |
| HAEMONETICS CORP | COM | 405024100 |  | 3626987 | 74415 | SH |  | SOLE |  | 41920 | 0 | 32495 |
| HOLOGIC INC | COM | 436440101 |  | 1604912 | 23780 | SH |  | SOLE |  | 23400 | 0 | 380 |
| ICON PLC | COM | G4705A100 |  | 4273675 | 24421 | SH |  | SOLE |  | 2724 | 0 | 21697 |
| IDEXX LABORATORIES INC | COM | 45168D104 |  | 117746149 | 184298 | SH |  | SOLE |  | 76088 | 0 | 108210 |
| ILLUMINA INC | COM | 452327109 |  | 210833 | 2220 | SH |  | SOLE |  | 0 | 0 | 2220 |
| INSULET CORP | COM | 45784P101 |  | 5875132 | 19030 | SH |  | SOLE |  | 225 | 0 | 18805 |
| IPG PHOTONICS CORP | COM | 44980X109 |  | 9037796 | 114128 | SH |  | SOLE |  | 78044 | 0 | 36084 |
| JACK HENRY  ASSOCIATES INC | COM | 426281101 |  | 39186164 | 263118 | SH |  | SOLE |  | 96030 | 0 | 167088 |
| JFROG LTD | COM | M6191J100 |  | 541692 | 11445 | SH |  | SOLE |  | 11445 | 0 | 0 |
| KORNIT DIGITAL LTD | COM | M6372Q113 |  | 13932243 | 1032018 | SH |  | SOLE |  | 500513 | 0 | 531505 |
| KRATOS DEFENSE  SECURITY SOLUTIONS INC | COM | 50077B207 |  | 183653791 | 2010001 | SH |  | SOLE |  | 938761 | 0 | 1071240 |
| LIVE RAMP HOLDINGS INC | COM | 53815P108 |  | 52281845 | 1926376 | SH |  | SOLE |  | 816510 | 0 | 1109866 |
| MANHATTAN ASSOCIATES INC | COM | 562750109 |  | 74063579 | 361321 | SH |  | SOLE |  | 162500 | 0 | 198821 |
| MEDPACE HOLDINGS INC | COM | 58506Q109 |  | 127900899 | 248757 | SH |  | SOLE |  | 102498 | 0 | 146259 |
| MERIT MEDICAL SYSTEMS INC | COM | 589889104 |  | 7247585 | 87079 | SH |  | SOLE |  | 858 | 0 | 86221 |
| MONOLITHIC POWER SYSTEMS INC | COM | 609839105 |  | 6085430 | 6610 | SH |  | SOLE |  | 1230 | 0 | 5380 |
| MORNINGSTAR INC | COM | 617700109 |  | 23014696 | 99197 | SH |  | SOLE |  | 59089 | 0 | 40108 |
| NCINO INC | COM | 63947X101 |  | 55312614 | 2040303 | SH |  | SOLE |  | 895188 | 0 | 1145115 |
| NEOGEN CORP | COM | 640491106 |  | 9512495 | 1665936 | SH |  | SOLE |  | 1017616 | 0 | 648320 |
| NEOGENOMICS INC | COM | 64049M209 |  | 18105430 | 2345263 | SH |  | SOLE |  | 308818 | 0 | 2036445 |
| NICE LTD | COM | 653656108 |  | 45378540 | 313431 | SH |  | SOLE |  | 127420 | 0 | 186011 |
| NOVANTA INC | COM | 67000B104 |  | 21918929 | 218861 | SH |  | SOLE |  | 121531 | 0 | 97330 |
| O'REILLY AUTOMOTIVE INC | COM | 67103H107 |  | 9296995 | 86235 | SH |  | SOLE |  | 86235 | 0 | 0 |
| PAYCOM SOFTWARE INC | COM | 70432V102 |  | 21605348 | 103802 | SH |  | SOLE |  | 56529 | 0 | 47273 |
| PROTO LABS INC | COM | 743713109 |  | 13973179 | 279296 | SH |  | SOLE |  | 165753 | 0 | 113543 |
| QUAKER CHEMICAL CORP | COM | 747316107 |  | 2072032 | 15727 | SH |  | SOLE |  | 317 | 0 | 15410 |
| QUALYS INC | COM | 74758T303 |  | 54645277 | 412947 | SH |  | SOLE |  | 161050 | 0 | 251897 |
| RBC BEARINGS INC | COM | 75524B104 |  | 85012578 | 217819 | SH |  | SOLE |  | 78434 | 0 | 139385 |
| REPLIGEN CORP | COM | 759916109 |  | 45028344 | 336862 | SH |  | SOLE |  | 136402 | 0 | 200460 |
| RESMED INC | COM | 761152107 |  | 85089792 | 310853 | SH |  | SOLE |  | 117212 | 0 | 193641 |
| SEI INVESTMENTS CO | COM | 784117103 |  | 47950177 | 565117 | SH |  | SOLE |  | 228750 | 0 | 336367 |
| SPDR S 500 ETF TRUST | COM | 78462F103 |  | 1688766 | 2535 | SH |  | SOLE |  | 2440 | 0 | 95 |
| SPDR S MIDCAP 400 ETF TRUST | COM | 78467Y107 |  | 210399 | 353 | SH |  | SOLE |  | 353 | 0 | 0 |
| SPS COMMERCE INC | COM | 78463M107 |  | 29521086 | 283475 | SH |  | SOLE |  | 133877 | 0 | 149598 |
| STAAR SURGICAL CO | COM | 852312305 |  | 19975803 | 743424 | SH |  | SOLE |  | 440581 | 0 | 302843 |
| SYNOPSYS INC | COM | 871607107 |  | 10455428 | 21191 | SH |  | SOLE |  | 4576 | 0 | 16615 |
| TRADEWEB MARKETS INC | COM | 892672106 |  | 29521346 | 266006 | SH |  | SOLE |  | 84288 | 0 | 181718 |
| TREX COMPANY INC | COM | 89531P105 |  | 14505681 | 280737 | SH |  | SOLE |  | 158610 | 0 | 122127 |
| TRIMBLE INC | COM | 896239100 |  | 1551350 | 19000 | SH |  | SOLE |  | 0 | 0 | 19000 |
| TYLER TECHNOLOGIES INC | COM | 902252105 |  | 12077672 | 23086 | SH |  | SOLE |  | 2351 | 0 | 20735 |
| VARONIS SYSTEMS INC | COM | 922280102 |  | 78837691 | 1371806 | SH |  | SOLE |  | 624632 | 0 | 747174 |
| VEEVA SYSTEMS INC | COM | 922475108 |  | 66182792 | 222157 | SH |  | SOLE |  | 79580 | 0 | 142577 |
| VSE CORP | COM | 918284100 |  | 1322938 | 7958 | SH |  | SOLE |  | 2078 | 0 | 5880 |
| ZEBRA TECHNOLOGIES CORP | COM | 989207105 |  | 980628 | 3300 | SH |  | SOLE |  | 3300 | 0 | 0 |

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