Grid Dynamics Holdings, Inc.
US ˙ NasdaqCM ˙ US39813G1094

SecurityGDYN / Grid Dynamics Holdings, Inc.
InstitutionS Squared Technology, LLC
Latest Disclosed Ownership636,737 shares
Latest Disclosed Value $ 3,629,401
S Squared Technology, LLC ownership in GDYN / Grid Dynamics Holdings, Inc.

On May 15, 2026 - S Squared Technology, LLC filed a 13F-HR/A form disclosing ownership of 636,737 shares of Grid Dynamics Holdings, Inc. (US:GDYN) valued at $3,629,401 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 636,737 shares of Grid Dynamics Holdings, Inc.. This represents a change in shares of 0.00% during the quarter. The current value of the position is $4,173,811 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F/A-1 GRID DYNAMICS HOLDINGS CL A 39813G109 636,737 0 0.00 3,629 -36.88 1.3737
2026-05-14 2026-03-31 13F GRID DYNAMICS HOLDINGS CL A 39813G109 636,737 0 3,629 1.3737
2026-02-13 2025-12-31 13F GRID DYNAMICS HOLDINGS CL A 39813G109 636,737 332,499 109.29 5,750 145.16 2.2265
2025-11-14 2025-09-30 13F GRID DYNAMICS HOLDINGS CL A 39813G109 304,238 166,357 120.65 2,346 47.30 0.8918
2025-08-07 2025-06-30 13F GRID DYNAMICS HOLDINGS CL A 39813G109 137,881 0 0.00 1,593 -26.19 0.6710
2025-05-16 2025-03-31 13F GRID DYNAMICS HOLDINGS CL A 39813G109 137,881 -122,000 -46.94 2,158 -62.68 1.1041
2025-02-13 2024-12-31 13F GRID DYNAMICS HOLDINGS CL A 39813G109 259,881 -30,000 -10.35 5,780 42.41 2.4012
2024-11-14 2024-09-30 13F GRID DYNAMICS HOLDINGS CL A 39813G109 289,881 0 0.00 4,058 33.22 1.7312
2024-08-14 2024-06-30 13F GRID DYNAMICS HOLDINGS CL A 39813G109 289,881 60,100 26.16 3,047 7.86 1.3445
2024-05-15 2024-03-31 13F GRID DYNAMICS HOLDINGS CL A 39813G109 229,781 0 0.00 2,824 -7.77 1.2966
2024-02-13 2023-12-31 13F GRID DYNAMICS HOLDINGS CL A 39813G109 229,781 0 0.00 3,063 9.44 1.4868
2023-11-13 2023-09-30 13F GRID DYNAMICS HOLDINGS CL A 39813G109 229,781 27,257 13.46 2,799 49.39 1.5100
2023-08-11 2023-06-30 13F GRID DYNAMICS HLDGS CL A 39813G109 202,524 -138,000 -40.53 1,873 -52.00 0.9270
2023-05-12 2023-03-31 13F GRID DYNAMICS HLDGS CL A 39813G109 340,524 -73,831 -17.82 3,902 -16.07 2.3174
2023-02-14 2022-12-31 13F GRID DYNAMICS HOLDINGS CL A 39813G109 414,355 50,200 13.79 4,649 -31.84 3.1466
2022-11-14 2022-09-30 13F GRID DYNAMICS HOLDINGS CL A 39813G109 364,155 56,131 18.22 6,821 31.65 4.9906
2022-08-12 2022-06-30 13F GRID DYNAMICS HOLDINGS CL A 39813G109 308,024 65,000 26.75 5,181 51.40 3.5874
2022-05-13 2022-03-31 13F GRID DYNAMICS HLDGS CL A 39813G109 243,024 -128,522 -34.59 3,422 -75.74 1.7082
2022-02-14 2021-12-31 13F GRID DYNAMICS HLDGS CL A 39813G109 371,546 8,600 2.37 14,108 33.03 6.3139
2021-11-12 2021-09-30 13F GRID DYNAMICS HLDGS CL A 39813G109 362,946 -7,000 -1.89 10,605 90.74 4.8078
2021-08-13 2021-06-30 13F GRID DYNAMICS HLDGS CL A 39813G109 369,946 81,455 28.23 5,560 20.97 2.5163
2021-05-13 2021-03-31 13F GRID DYNAMICS HOLDINGS CL A 39813G109 288,491 51,542 21.75 4,596 53.92 2.1730
2021-02-12 2020-12-31 13F GRID DYNAMICS HOLDINGS CL A 39813G109 236,949 64,617 37.50 2,986 124.17 1.7125
2020-11-13 2020-09-30 13F GRID DYNAMICS HOLDINGS CL A 39813G109 172,332 172,332 1,332 0.9902
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.