Key Points
Battery Management increased its BRZE holding by 839,864 shares; the estimated transaction value was $24.88 million.
Meanwhile, the quarter-end BRZE position value rose $42.99 million, reflecting both share purchases and price movement.
Post-trade, the fund holds 3,264,864 BRZE shares valued at $111.95 million.
The stake accounts for 17.98% of 13F AUM, making it the fund's third-largest holding.
On February 17, 2026, Battery Management Corp. disclosed an increase of 839,864 shares in Braze(NASDAQ:BRZE), an estimated $24.88 million trade based on quarterly average pricing.
What happened
According to a February 17, 2026, SEC filing, Battery Management Corp. boosted its holding in Braze(NASDAQ:BRZE) by 839,864 shares during the fourth quarter. The estimated transaction value is $24.88 million, calculated using the period's average share price. The value of the fund's BRZE position at quarter-end climbed by $42.99 million, a figure that reflects both trading activity and changes in the stock price.
What else to know
- The BRZE position is now 17.98% of the fund's 13F AUM.
- Top holdings after the filing:
- NASDAQ:TTAN: $351.44 million (56.4% of AUM)
- NASDAQ:KDK: $124.01 million (19.9% of AUM)
- NASDAQ:BRZE: $111.95 million (18.0% of AUM)
- NYSE:CXM: $18.64 million (3.0% of AUM)
- NASDAQ:CSBR: $16.73 million (2.7% of AUM)
- As of February 17, 2026, BRZE shares were priced at $16.93, down a staggering 60% year over year and significantly underperforming the S&P 500’s roughly 13% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2/17/26) | $16.93 |
| Market capitalization | $1.73 billion |
| Revenue (TTM) | $693.41 million |
| Net income (TTM) | ($116.68 million) |
Company snapshot
- Braze provides a customer engagement platform offering data ingestion, messaging, segmentation, personalization, orchestration, and analytics solutions for brands across digital channels.
- The firm serves brands globally, providing a customer engagement platform to enhance digital interactions.
- It’s headquartered in New York City, with a focus on technology and software applications for enterprise clients.
Braze, Inc. is a technology company specializing in customer engagement software, enabling brands to deliver personalized, cross-channel messaging at scale. With a robust SaaS platform and a focus on data-driven insights, Braze supports leading enterprises in optimizing customer journeys and driving retention. The company's integrated approach and advanced orchestration tools provide a competitive advantage in the rapidly evolving digital marketing landscape.
What this transaction means for investors
Concentration tells you more than a headline ever will, and when nearly 18% of a portfolio sits in one mid-cap software name that is down 60% over the past year, that is not a trade. That is a thesis.
Braze recently delivered 25.5% year over year revenue growth to $190.8 million in its fiscal third quarter, with subscription revenue of $181.6 million and free cash flow of $17.8 million. Meanwhile, large customers continue to grow, with 303 accounts generating at least $500,000 in ARR, up from 234 a year ago. Dollar-based net retention stabilized at 108%.
At the same time, GAAP operating losses persist, and stock-based compensation remains material at $37.6 million for the quarter. This is a business still balancing scale with profitability, and shares have taken a hit in recent weeks, roughly halving in value since December.
Within a portfolio already heavily tilted toward high-growth software and AI exposed names, increasing this position reinforces a clear preference for platforms with expanding free cash flow and improving operating leverage. Long-term investors should focus on retention, large customer growth, and sustained cash generation. If those hold, today’s multiple may look very different in five years.
Should you buy stock in Braze right now?
Before you buy stock in Braze, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Braze wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $415,256!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,151,865!*
Now, it’s worth noting Stock Advisor’s total average return is 892% — a market-crushing outperformance compared to 194% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of February 20, 2026.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Braze. The Motley Fool recommends ServiceTitan. The Motley Fool has a disclosure policy.
