Key Points
Cinctive Capital Management initiated a new position by acquiring 157,815 shares of Commvault Systems in the fourth quarter.
The quarter-end position value increased by $19.78 million as a result of the new portfolio addition.
The position represents 1.07% of fund AUM, placing it outside the fund's top five holdings.
On February 17, 2026, Cinctive Capital Management LP disclosed a new position in Commvault Systems(NASDAQ:CVLT), acquiring 157,815 shares in a transaction estimated at $19.78 million based on quarterly average pricing.
What happened
According to a February 17, 2026, SEC filing, Cinctive Capital Management reported a new position in Commvault Systems(NASDAQ:CVLT), acquiring 157,815 shares. The quarter-end value of the position stood at $19.78 million.
What else to know
- The new position in Commvault Systems accounts for 1.07% of Cinctive’s 13F reportable AUM as of December 31, 2025.
- Top five holdings after the filing:
- NYSE:VST: $53.84 million (3.1% of AUM)
- NYSE:CVX: $36.56 million (2.1% of AUM)
- NASDAQ:FYBR: $36.41 million (2.1% of AUM)
- NASDAQ:EXAS: $33.51 million (1.9% of AUM)
- NASDAQ:CYBR: $32.93 million (1.9% of AUM)
- As of Friday, Commvault Systems shares were priced at $79.41, down 51% over the past year and well underperforming the S&P 500, which is instead up about 15% in the same period.
Company overview
| Metric | Value |
|---|---|
| Price (as of Friday) | $79.41 |
| Market capitalization | $3.5 billion |
| Revenue (TTM) | $1.15 billion |
| Net income (TTM) | $87.00 million |
Company snapshot
- Commvault Systems offers data protection, backup and recovery, disaster recovery, and cloud-based storage solutions, with flagship products such as Commvault Backup and Recovery, Commvault Disaster Recovery, and the Metallic SaaS platform.
- The company generates revenue primarily through the sale of software licenses, cloud-based services, integrated appliances, and professional support services, leveraging both direct sales and an extensive channel partner network.
- Its primary customers include large enterprises, small and medium-sized businesses, and government agencies across sectors such as financial services, healthcare, manufacturing, utilities, and technology.
Commvault Systems is a leading provider of enterprise data management and protection software, serving a global client base from its headquarters in Tinton Falls, New Jersey. The company’s strategy focuses on delivering comprehensive, scalable solutions that address complex data security and compliance needs in increasingly hybrid and cloud-centric IT environments. Its broad product portfolio and strong channel relationships provide a competitive edge in the rapidly evolving data management market.
What this transaction means for investors
Conviction is most noticeable when money moves against the current trend, and Commvault stands out in this regard. It has struggled even though its fundamentals are improving, and that isn’t typically the case with a stock that has dropped by 50%. Last quarter, revenue grew by 19% year-over-year, reaching a record $314 million, and annual recurring revenue (ARR) exceeded $1.08 billion, an increase of 22%. This suggests that the company is making a shift towards a more predictable, subscription-based model, even though the stock price perhaps doesn’t yet reflect these changes.
In a portfolio mainly comprised of large, diversified investments in energy, infrastructure, and cybersecurity, adding Commvault feels less like establishing a core holding and more like making a specific bet that the company’s performance will catch up to its strong fundamentals. With Commvault making up just over 1% of the total assets, it offers upside potential without the need for perfect results.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chevron. The Motley Fool has a disclosure policy.
