Q4 2025 · 13F-HR
Divisadero Street Capital Management, LPholdings as filed
Filed 2026-02-17 · accession 0000919574-26-000995
$2.14B
Reported value
92
Positions
2025-12-31
Period end
The Brief · Divisadero Street Capital Management, LP · Q4 2025
AI · grounded in 13F
Divisadero Street Capital Management, LP closed its position in LRN, reducing exposure by $55.85M. The fund also exited positions in PRCH and ANGO, which decreased holdings by $43.74M and $41.08M respectively. On the buy side, the manager significantly increased its stake in FIGS and BBW.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 23834J201 | DAVE | DAVE INC | $160.5M | 7.51% | 725,100 | CALL | SOLE |
| G8588X103 | SGHC | SUPER GROUP SGHC LIMITED | $148.0M | 6.92% | 12,386,900 | CALL | SOLE |
| G8588X103 | SGHC | SUPER GROUP SGHC LIMITED | $140.3M | 6.56% | 11,741,629 | Common | SOLE |
| G4766E116 | INDV | INDIVIOR PLC | $99.9M | 4.67% | 2,784,786 | Common | SOLE |
| G0260P102 | AS | AMER SPORTS INC | $93.0M | 4.35% | 2,490,845 | Common | SOLE |
| 146869102 | CVNA | CARVANA CO | $92.1M | 4.31% | 218,189 | Common | SOLE |
| G8068L108 | SN | SHARKNINJA INC | $86.1M | 4.03% | 769,163 | Common | SOLE |
| 302492103 | FLYW | FLYWIRE CORPORATION | $81.9M | 3.83% | 5,786,462 | Common | SOLE |
| 120076104 | BBW | BUILD-A-BEAR WORKSHOP INC | $76.7M | 3.59% | 1,251,224 | Common | SOLE |
| 15118V207 | CELH | CELSIUS HLDGS INC | $74.1M | 3.47% | 1,620,212 | Common | SOLE |
| 78435P105 | SEZL | SEZZLE INC | $71.3M | 3.33% | 1,123,226 | Common | SOLE |
| 02913V103 | APEI | AMERICAN PUB ED INC | $63.2M | 2.96% | 1,671,558 | Common | SOLE |
| 23834J201 | DAVE | DAVE INC | $57.9M | 2.71% | 261,608 | Common | SOLE |
| 90041L105 | TPB | TURNING PT BRANDS INC | $57.6M | 2.69% | 531,214 | Common | SOLE |
| 782011100 | RSI | RUSH STREET INTERACTIVE INC | $54.4M | 2.55% | 2,801,204 | Common | SOLE |
| 15101Q207 | CLS | CELESTICA INC | $51.7M | 2.42% | 175,012 | Common | SOLE |
| 30260D103 | FIGS | FIGS INC | $50.1M | 2.34% | 4,410,632 | Common | SOLE |
| 88339P101 | REAL | THE REALREAL INC | $49.7M | 2.33% | 3,150,443 | Common | SOLE |
| 55024U109 | LITE | LUMENTUM HLDGS INC | $43.6M | 2.04% | 118,185 | Common | SOLE |
| 15118V207 | CELH | CELSIUS HLDGS INC | $41.6M | 1.95% | 910,000 | CALL | SOLE |
| 45245E109 | IMAX | IMAX CORP | $35.7M | 1.67% | 964,986 | Common | SOLE |
| 630402105 | NSSC | NAPCO SEC TECHNOLOGIES INC | $33.8M | 1.58% | 809,729 | Common | SOLE |
| 531914109 | LWAY | LIFEWAY FOODS INC | $32.7M | 1.53% | 1,347,635 | Common | SOLE |
| 782011100 | RSI | RUSH STREET INTERACTIVE INC | $31.3M | 1.46% | 1,610,100 | CALL | SOLE |
| 96924N100 | WLDN | WILLDAN GROUP INC | $31.0M | 1.45% | 298,932 | Common | SOLE |
| 926400102 | VSCO | VICTORIAS SECRET AND CO | $26.7M | 1.25% | 493,413 | Common | SOLE |
| 09352U108 | BLND | BLEND LABS INC | $17.3M | 0.81% | 5,701,122 | Common | SOLE |
| 26142V105 | DKNG | DRAFTKINGS INC NEW | $17.3M | 0.81% | 502,162 | Common | SOLE |
| 92847W103 | VITL | VITAL FARMS INC | $17.1M | 0.80% | 534,780 | Common | SOLE |
| 05463X106 | AXGN | AXOGEN INC | $16.5M | 0.77% | 503,822 | Common | SOLE |
| 91680M107 | UPST | UPSTART HLDGS INC | $16.2M | 0.76% | 370,000 | Common | SOLE |
| 433000106 | HIMS | HIMS & HERS HEALTH INC | $15.3M | 0.71% | 469,833 | Common | SOLE |
| 733245AD6 | PRCH 9 05/15/30 | PORCH GROUP INC | $14.8M | 0.69% | 1,620,351 | Common | SOLE |
| 20464U100 | COMP | COMPASS INC | $13.2M | 0.62% | 1,250,000 | Common | SOLE |
| 29357K103 | ENVA | ENOVA INTL INC | $13.0M | 0.61% | 82,490 | Common | SOLE |
| 778296103 | ROST | ROSS STORES INC | $12.3M | 0.57% | 68,204 | Common | SOLE |
| 87305R109 | TTMI | TTM TECHNOLOGIES INC | $11.4M | 0.53% | 164,595 | Common | SOLE |
| 58450V104 | MAX | MEDIAALPHA INC | $11.0M | 0.51% | 849,011 | Common | SOLE |
| 71722W107 | PHAT | PHATHOM PHARMACEUTICALS INC | $11.0M | 0.51% | 662,312 | Common | SOLE |
| 74340E103 | PGNY | PROGYNY INC | $9.3M | 0.44% | 363,624 | Common | SOLE |
| 63845R107 | EYE | NATIONAL VISION HLDGS INC | $9.1M | 0.42% | 351,845 | Common | SOLE |
| 479167108 | JOUT | JOHNSON OUTDOORS INC | $8.9M | 0.42% | 209,457 | Common | SOLE |
| 17306X102 | CTRN | CITI TRENDS INC | $8.4M | 0.39% | 203,107 | Common | SOLE |
| 92346J108 | VCEL | VERICEL CORP | $8.1M | 0.38% | 225,000 | Common | SOLE |
| 399473206 | GRPN | GROUPON INC | $7.8M | 0.37% | 444,965 | Common | SOLE |
| 98955K104 | ZVIA | ZEVIA PBC | $7.5M | 0.35% | 3,213,961 | Common | SOLE |
| 68170A108 | OMDA | OMADA HEALTH INC | $7.4M | 0.35% | 469,597 | Common | SOLE |
| 268603107 | LOCO | EL POLLO LOCO HLDGS INC | $7.2M | 0.34% | 692,665 | Common | SOLE |
| 88556E102 | TDUP | THREDUP INC | $6.4M | 0.30% | 993,949 | Common | SOLE |
| 09624H208 | BXC | BLUELINX HLDGS INC | $6.3M | 0.30% | 103,141 | Common | SOLE |
| G9572D103 | BULL | WEBULL CORP | $6.2M | 0.29% | 800,000 | Common | SOLE |
| 00650F109 | ADPT | ADAPTIVE BIOTECHNOLOGIES COR | $5.9M | 0.27% | 361,344 | Common | SOLE |
| 343389409 | FTK | FLOTEK INDS INC DEL | $5.8M | 0.27% | 337,407 | Common | SOLE |
| 74275G107 | PRTH | PRIORITY TECHNOLOGY HLDGS IN | $5.8M | 0.27% | 1,057,894 | Common | SOLE |
| 24661P807 | DCTH | DELCATH SYS INC | $5.0M | 0.24% | 499,796 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $4.5M | 0.21% | 28,244 | Common | SOLE |
| 04206A101 | ARLO | ARLO TECHNOLOGIES INC | $4.5M | 0.21% | 320,287 | Common | SOLE |
| 15678C102 | CBLL | CERIBELL INC | $4.1M | 0.19% | 188,506 | Common | SOLE |
| 989817101 | ZUMZ | ZUMIEZ INC | $3.2M | 0.15% | 124,549 | Common | SOLE |
| 974155103 | WING | WINGSTOP INC | $3.1M | 0.14% | 12,857 | Common | SOLE |
| 749527107 | 1RG | REV GROUP INC | $3.0M | 0.14% | 50,000 | Common | SOLE |
| 302301106 | EZPW | EZCORP INC | $2.7M | 0.13% | 138,505 | Common | SOLE |
| 87043Q108 | SG | SWEETGREEN INC | $1.7M | 0.08% | 255,244 | Common | SOLE |
| 35138V102 | FOXF | FOX FACTORY HLDG CORP | $1.7M | 0.08% | 100,000 | Common | SOLE |
| G3R239101 | GAMB | GAMBLING COM GROUP LIMITED | $1.7M | 0.08% | 305,694 | Common | SOLE |
| 07831C103 | BRBR | BELLRING BRANDS INC | $1.5M | 0.07% | 55,780 | Common | SOLE |
| 46620W201 | JILL | J JILL INC | $1.5M | 0.07% | 108,105 | Common | SOLE |
| 09075A108 | BVS | BIOVENTUS INC | $1.4M | 0.06% | 183,131 | Common | SOLE |
| 75321W103 | PACK | RANPAK HOLDINGS CORP | $1.4M | 0.06% | 250,001 | Common | SOLE |
| 83125X103 | SNBR | SLEEP NUMBER CORP | $1.3M | 0.06% | 156,098 | Common | SOLE |
| 08659B102 | BBNX | BETA BIONICS INC | $1.2M | 0.06% | 39,606 | Common | SOLE |
| 81728J109 | SRTS | SENSUS HEALTHCARE INC | $1.2M | 0.06% | 298,879 | Common | SOLE |
| 64049M209 | NEO | NEOGENOMICS INC | $1.2M | 0.06% | 100,000 | Common | SOLE |
| 68280L101 | ONEW | ONEWATER MARINE INC | $1.2M | 0.05% | 108,000 | Common | SOLE |
| 433313103 | HNGE | HINGE HEALTH INC | $1.1M | 0.05% | 24,639 | Common | SOLE |
| 00486H105 | ADTN | ADTRAN HOLDINGS INC | $1.1M | 0.05% | 127,489 | Common | SOLE |
| 58470H101 | MED | MEDIFAST INC | $852,681 | 0.04% | 79,839 | Common | SOLE |
| 75960P104 | RELY | REMITLY GLOBAL INC | $848,189 | 0.04% | 61,463 | Common | SOLE |
| 04035M102 | ARHS | ARHAUS INC | $755,700 | 0.04% | 67,413 | Common | SOLE |
| 64111Q104 | NTGR | NETGEAR INC | $704,011 | 0.03% | 28,700 | Common | SOLE |
| 68243Q106 | FLWS | 1 800 FLOWERS COM INC | $677,512 | 0.03% | 172,395 | Common | SOLE |
| 45780L104 | INGN | INOGEN INC | $592,274 | 0.03% | 88,136 | Common | SOLE |
| 54738L109 | LOVE | LOVESAC COMPANY | $562,196 | 0.03% | 38,115 | Common | SOLE |
| 53216B104 | LFMD | LIFEMD INC | $463,167 | 0.02% | 135,826 | Common | SOLE |
| 53222K205 | LFVN | LIFEVANTAGE CORP | $396,365 | 0.02% | 64,345 | Common | SOLE |
| 05380C102 | RCEL | AVITA MEDICAL INC | $345,000 | 0.02% | 100,000 | Common | SOLE |
| 02080L102 | TKNO | ALPHA TEKNOVA INC | $299,714 | 0.01% | 78,872 | Common | SOLE |
| 98980B103 | ZIP | ZIPRECRUITER INC | $193,089 | 0.01% | 49,510 | Common | SOLE |
| 25065K104 | DXLG | DESTINATION XL GROUP INC | $182,003 | 0.01% | 197,937 | Common | SOLE |
| 88554D205 | DDD | 3-D SYS CORP DEL | $160,240 | 0.01% | 90,531 | Common | SOLE |
| 74640Y106 | PRPL | PURPLE INNOVATION INC | $95,707 | 0.00% | 138,605 | Common | SOLE |
| 38046C109 | GOGO | GOGO INC | $57,188 | 0.00% | 12,272 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.