Peregrine Closes 50,000-Share OLED Position Worth $7.3 Million

What happened

Peregrine Investment Management disclosed in a Feb. 4, 2026 SEC filing that it fully liquidated its position in Universal Display (NASDAQ:OLED), divesting 50,560 shares. The estimated value of the holdings as of Nov. 6 was $7.26 million.

What else to know

• This was a full liquidation; Universal Display now represents 0% of Peregrine’s 13F AUM (down from 3.6% in the prior quarter).
• Top holdings after the filing:
  • SiTime Corp.: $11.84 million (7.4% of AUM)
  • Astera Labs: $11.35 million (7.04% of AUM)
  • MongoDB: $10.97 million (6.8% of AUM)
  • Sociedad Quimica y Minera de Chile SA: $10.24 million (6.36% of AUM)
  • Amazon: $10.15 million (6.3% of AUM)
• As of Feb. 3, 2026, shares of Universal Display were priced at $117.24, down 18% over the past year, underperforming the S&P 500 by 32.32 percentage points.
• The fund reported $161.04 million in 13F AUM across 19 holdings after the quarter’s end.
• Universal Display’s trailing-12-month revenue reached $639.98 million as of Q3 2025.

Company overview

Company snapshot

• Universal Display develops and commercializes organic light emitting diode (OLED) technologies and materials, supplying proprietary UniversalPHOLED materials and related OLED device technologies.
• The company generates revenue primarily through material sales, technology licensing, and contract research services related to OLED and advanced display applications.
• Its main customers are display and lighting manufacturers, including those producing smartphones, televisions, and other high-end electronic displays.

Universal Display is a leading innovator in OLED technology, holding approximately 5,500 issued and pending patents worldwide. The company leverages its intellectual property portfolio and proprietary materials to enable high-performance, energy-efficient displays and lighting solutions. Its business model, focused on licensing and material sales, positions it as a critical supplier to major global electronics manufacturers seeking advanced display technologies.

What this transaction means for investors

Peregrine Investment Management is a relatively small investment management firm, with just 19 holdings and $161 million in assets under management. And Universal Display isn’t the only stock it dropped between the third and fourth quarters of 2025. For example, it also liquidated a sizable holding in Circle Internet Group, a payment technology company and stablecoin issuer, which had been its third-largest position as of Nov. 6. In all, the firm’s assets under management dipped by $42.5 million dollars, or about 20%.

Universal Display had a tough end to 2025, losing almost 20% of its stock price between Oct. 1 and Dec. 31. It reported its third-quarter earnings in November, missing both earnings and sales estimates. In fact, sales were down 14% year over year, and earnings declined 34% year over year.

Yet the company continues to make forward progress, announcing in November it had agreed to acquire OLED patent assets from Merck KGaA. The portfolio has an average remaining lifetime of approximately 10 years and includes more than 300 issued and pending patents worldwide.

Peregrine’s liquidation may have simply been a strategic shift, as the stock has significantly underperformed over the past five years. Universal Display will report its earnings results for the fourth quarter and full-year 2025 on Thursday, Feb. 19, after market close.

Sarah Sidlow has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, MongoDB, and SiTime. The Motley Fool recommends Astera Labs and Universal Display. The Motley Fool has a disclosure policy.