Long Path Partners Buys Alkami Technology Stock
Key Points
Long Path added 572,292 shares of Alkami Technology in the fourth quarter.
Quarter-end position value increased by $8.6 million, reflecting both share additions and stock price movement.
Long Path held 3.1 million shares of Alkami Technology stock at the end of the fourth quarter.
The quarter-end position value was $72 million, representing about 25% of the fund's reported assets under management (AUM).
On Feb. 13, 2026, Long Path Partners LP disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it bought 572,292 shares of Alkami Technology (NASDAQ:ALKT) in the fourth quarter.
What happened
According to a Securities and Exchange Commission (SEC) filing dated Feb. 13, 2026, Long Path Partners LP increased its position in Alkami Technology by 572,292 shares during the quarter ended Dec. 31, 2025. The fund's quarter-end Alkami Technology stake was valued at $72.5 million, up $8.6 million from the previous period, reflecting both trading and market price changes.
What else to know
- This purchase added to Long Path’s existing stake; Alkami Technology accounted for approximately 25% of 13F AUM after the trade.
- Top holdings after the filing:
- NASDAQ:NCNO: $94.0 million (32.1% of AUM)
- NASDAQ:ALKT: $72.5 million (24.8% of AUM)
- NYSE:CPAY: $40.6 million (13.9% of AUM)
- NASDAQ:IIIV: $27.5 million (9.4% of AUM)
- NASDAQ:DCBO: $21.6 million (7.4% of AUM)
- As of Feb. 13, 2026, Alkami Technology shares were trading at $16.27, down 50.4% over the past year and underperforming the S&P 500 by 62.2 percentage points.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $1.71 billion |
| Revenue (TTM) | $443 million |
| Net income (TTM) | ($47 million) |
| Price (as of market close February 13, 2026) | $16.27 |
Company snapshot
- Provides a cloud-based digital banking platform, including Alkami Platform, Retail Banking Solutions, and Business Banking Solutions.
- Generates revenue through software-as-a-service (SaaS) subscriptions and platform usage fees from financial institutions.
- Serves community banks, regional banks, credit unions, and both retail and business banking clients in the United States.
Alkami Technology is a technology company specializing in digital banking solutions for financial institutions. The company leverages a proprietary, multi-tenant cloud architecture to deliver scalable and secure SaaS offerings. Alkami's focus on innovation and operational efficiency positions it as a key partner for banks and credit unions seeking to enhance user engagement and accelerate digital transformation.
What this transaction means for investors
Long Path Partners manages a highly concentrated portfolio of well-researched, long-term holdings. The fund held just seven U.S.-listed stocks at the end of 2025, as disclosed in its 13F filing. It reduced positions in some holdings and increased positions in others, including Alkami.
The willingness to buy more shares after Alkami’s stock fell sharply last year shows strong conviction in the business’s value. This suggests that the fund managers may view the stock as undervalued relative to Alkami’s long-term growth prospects.
Indeed, the stock’s underperformance doesn’t align with the company’s performance, as revenue continued to grow at healthy rates, up 33% in 2025. However, the stock’s volatility could be attributed to its operating loss.
Long term, Alkami is positioned to benefit from banks shifting from legacy online products to the company’s digital banking platform. The company is also seeing early momentum in sales of its artificial intelligence (AI)-powered solutions, such as its fraud detection products.
John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Docebo and nCino. The Motley Fool recommends Corpay. The Motley Fool has a disclosure policy.