Q2 2026 13F · SEC CIK 1901865

Divisadero Street Capital Management, LP

Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $4.3B
Reported positions: 140
Top holdings a year, 3 yrs: +17.2%
Assets under management: $2.6B

Divisadero Street Capital Management, LP is a hedge fund that reported 140 positions worth $4.3B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Sezzle Inc. (SEZL, 6.6%), Carvana Co (CVNA, 6.4%), Super Group Sghc Ltd F (SGHC, 6.4%). A portfolio copying its top holdings returned 17.2% a year over the last 3 years, against 20.4% for the S&P 500.

Divisadero Street Capital Management, LP holdings largest 50 of 140 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Divisadero Street Capital Management, LP 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
SEZLSezzle Inc.	6.6%	3.9%	1,649,531	+25.8%	$283.1M
CVNACarvana Co	6.4%	3.3%	4,163,614	+1737.1%	$274.0M
SGHCSuper Group Sghc Ltd F	6.4%	8.3%	20,114,259	+23.2%	$272.5M
DAVEDave Inc	6.1%	5.2%	699,366	+9.1%	$260.6M
HIMSHims & Hers Health Inc	4.9%	0.5%	6,009,505	+1179.1%	$208.3M
CLSCelestica Inc	3.9%	4.0%	461,397	+50.9%	$168.3M
RSIRush Street Interactive Inc	3.8%	6.5%	5,425,402	-15.6%	$161.4M
SNSharkninja Inc Com Shs	2.9%	3.8%	819,163	+6.5%	$124.7M
CECOCeco Environmental Corp	2.8%	0.5%	1,329,817	+608.9%	$120.7M
COMPCompass Inc	2.7%	1.2%	9,505,505	+180.4%	$117.2M
FLYWFlywire Corp	2.7%	3.3%	6,644,513	+9.5%	$116.7M
REALThe Realreal Inc	2.5%	1.8%	9,198,248	+111.8%	$108.4M
TPBTurning Pt Brands Inc Com	2.5%	1.2%	1,265,303	+328.1%	$107.3M
HNGEHinge Health Inc	2.5%	1.0%	1,290,623	+126.2%	$107.1M
WLDNWilldan Group Inc	2.4%	0.6%	1,324,293	+702.7%	$104.8M
LITELumentum Hldgs Inc Com	2.2%	3.1%	108,188	+16.1%	$92.8M
VSXYVictorias Secret and Co	2.0%	2.6%	1,025,972	-12.9%	$85.6M
OMDAOmada Health Inc	1.9%	3.5%	3,799,695	-35.5%	$83.4M
RELYRemitly Global Inc	1.9%	0.8%	3,719,086	+253.0%	$83.3M
CHYMChime Financial Inc.	1.7%	—	3,626,050	—	$74.3M
VSHVishay Intertechnology Inc	1.7%	—	1,345,094	—	$72.3M
APEIAmerican Pub Ed Inc	1.5%	2.8%	1,169,356	+11.1%	$62.8M
LWAYLifeway Foods Inc	1.5%	1.3%	2,101,540	+49.2%	$62.7M
CELHCelsius Holdings Inc	1.2%	4.2%	1,820,624	-28.2%	$53.3M
ASAmer Sports Inc	1.2%	0.5%	1,520,280	+419.2%	$51.4M
ESIElement Solutions Inc Com	1.1%	—	1,021,276	—	$48.8M
GRPNGroupon Inc	1.0%	—	1,845,838	—	$44.4M
CTRNCiti Trends Inc	1.0%	1.0%	705,451	+42.8%	$40.8M
EYENational Vision Holdings	0.8%	0.8%	1,899,450	+172.9%	$36.1M
ENVAEnova Intl Inc	0.8%	—	146,238	—	$35.2M
FIGSFigs Inc	0.8%	2.2%	3,191,026	-0.2%	$32.6M
PRCHPorch Group Inc	0.7%	—	2,105,695	—	$31.7M
FSLYFastly Inc	0.7%	—	1,694,262	—	$31.1M
LIFEEthos Technologies, Inc	0.7%	—	1,635,921	—	$29.7M
BULLWebull Corp	0.7%	2.1%	4,414,549	-53.8%	$28.8M
HOODRobinhood Mkts Inc	0.6%	—	250,000	—	$25.1M
TDUPThredup Inc	0.6%	—	3,628,206	—	$24.9M
INDVIndivior Pharmaceuticals, Inc.	0.6%	0.7%	601,863	+15.5%	$24.7M
VITLVita Lfarms Inc	0.5%	—	2,003,588	—	$23.3M
ICHRIchor Holdings	0.5%	—	200,621	—	$22.5M
ATRCAtriCure, Inc.	0.5%	1.5%	800,931	-31.0%	$22.4M
KLARKlarna Group PLC	0.5%	—	1,032,328	—	$20.9M
CDNACaredx Inc	0.5%	—	700,938	—	$20.0M
HROWHarrow Inc Com	0.4%	—	439,155	—	$18.7M
BBNXBeta Bionics Inc	0.4%	—	1,113,802	—	$17.5M
WRBYWarby Parker Inc Class A	0.4%	0.4%	561,117	+46.2%	$17.0M
HZOMarineMax Inc	0.4%	—	455,971	—	$16.7M
XPELXpel Inc	0.4%	1.5%	328,665	-54.4%	$16.3M
RVLVRevolve Group Inc	0.4%	—	708,216	—	$16.2M
WTTRSelect Water Solutions Inc	0.4%	1.4%	802,180	-57.8%	$16.0M

What Divisadero Street Capital Management, LP bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +20.5% /yr; S&P 500 +20.1%
3 years: +17.2% /yr; S&P 500 +20.4%
5 years: +4.3% /yr; S&P 500 +13.0%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$4.3B	140
Q1 2026	$2.1B	115
Q4 2025	$1.8B	88
Q3 2025	$2.2B	165
Q2 2025	$1.5B	131
Q1 2025	$869.6M	90
Q4 2024	$799.9M	81
Q3 2024	$777.2M	70
Q2 2024	$611.9M	59
Q1 2024	$425.9M	55
Q4 2023	$442.1M	58
Q3 2023	$317.3M	49

Questions about Divisadero Street Capital Management, LP's portfolio

What stocks does Divisadero Street Capital Management, LP own?

Divisadero Street Capital Management, LP's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 140 positions worth $4.3B. The largest are Sezzle Inc. (SEZL) at 6.6%, Carvana Co (CVNA) at 6.4%, Super Group Sghc Ltd F (SGHC) at 6.4%, Dave Inc (DAVE) at 6.1% and Hims & Hers Health Inc (HIMS) at 4.9%.

What did Divisadero Street Capital Management, LP buy last quarter?

In Q2 2026, Divisadero Street Capital Management, LP added Carvana Co (CVNA) (+1737.1% shares), Hims & Hers Health Inc (HIMS) (+1179.1% shares) and Willdan Group Inc (WLDN) (+702.7% shares), compared with its Q1 2026 filing.

What did Divisadero Street Capital Management, LP sell last quarter?

In Q2 2026, Divisadero Street Capital Management, LP cut from its top 50 Build-A-Bear Workshop Inc (BBW), cut from its top 50 Brinker Intl Inc (EAT), cut from its top 50 Axogen Inc (AXGN), cut from its top 50 Lincoln Edl Svcs Corp (LINC), cut from its top 50 Stride Inc (LRN), Select Water Solutions Inc (WTTR) (-57.8% shares), Xpel Inc (XPEL) (-54.4% shares) and Webull Corp (BULL) (-53.8% shares), compared with its Q1 2026 filing.

How has Divisadero Street Capital Management, LP's portfolio performed?

A portfolio copying Divisadero Street Capital Management, LP's 20 largest 13F holdings each quarter, from the day each filing was public, returned +17.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +20.5% against +20.1%. Over 5 years: +4.3% a year against +13.0%.

When is Divisadero Street Capital Management, LP's next 13F filing due?

13F filings are due 45 days after each quarter ends. Divisadero Street Capital Management, LP's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Divisadero Street Capital Management, LP manage?

Divisadero Street Capital Management, LP reported $2.6B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $4.3B.