On February 17, 2026, Daventry Group, LP disclosed a new position in Belden (BDC 4.21%), acquiring 94,600 shares in a trade estimated at $11.03 million.
What happened
According to an SEC filing dated February 17, 2026, Daventry Group initiated a new position in Belden during the fourth quarter of 2025, acquiring 94,600 shares. The stake’s quarter-end value was $11.03 million, representing the value of the shares acquired.
What else to know
- This was a new position for Daventry Group, LP; the stake accounted for 7.33% of its reportable 13F assets under management as of December 31, 2025.
- Top holdings after the filing:
- NYSE:ESTC: $29.01 million (24.0% of AUM)
- NASDAQ:MDB: $28.41 million (23.5% of AUM)
- NASDAQ:TTAN: $24.11 million (20.0% of AUM)
- NASDAQ:SAIL: $18.89 million (15.7% of AUM)
- NASDAQ:PTC: $9.21 million (7.6% of AUM)
- As of February 17, 2026, Belden shares were priced at $146.43, up 27.4% over the past year, outperforming the S&P 500 by 15.74 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $2.72 billion |
| Net income (TTM) | $237.52 million |
| Dividend yield | 0.14% |
| Price (as of market close February 17, 2026) | $146.43 |
Company snapshot
- Belden offers signal transmission solutions, including copper and fiber cabling, connectivity systems, network management hardware, and industrial Ethernet products.
- The company generates revenue through the sale of enterprise and industrial connectivity solutions, targeting critical infrastructure, data centers, and automation environments.
- Primary customers include distributors, OEMs, installers, and end-users across sectors such as commercial real estate, data centers, manufacturing, and government.
Belden is a leading provider of signal transmission and networking solutions with a global footprint and a diversified product portfolio. The company leverages its expertise in both enterprise and industrial connectivity to serve mission-critical applications in data centers, automation, and infrastructure. Belden's scale, technical depth, and long-standing customer relationships contribute to its competitive positioning in the communications equipment industry.
What this transaction means for investors
Capital is flowing toward companies with tangible earnings power, and Belden certainly seems to fit that mold. The networking and connectivity supplier just delivered record fourth quarter revenue of $720 million, up 8% year over year, with adjusted EPS climbing to $2.08. For the full year, revenue reached $2.7 billion and adjusted EPS jumped 19% to $7.54, backed by solid demand in Automation Solutions and steady margins near 17%.
Against that backdrop, carving out a 7.3% position in a business tied to data centers, industrial automation, and infrastructure looks deliberate. This is not a speculative software flyer. It sits alongside concentrated positions in software names like Elastic and MongoDB, but adds exposure to hardware and industrial connectivity where secular tailwinds like IT and OT convergence are real and measurable.
Belden also generated $354.9 million in operating cash flow in 2025 and returned $195 million via share repurchases, signaling disciplined capital allocation. With shares up 27% over the past year and still guiding for adjusted EPS of up to $1.75 next quarter, the bet appears rooted in earnings durability, not hype.
