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12 West Capital Management LP

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13F filer, CIK 1540531, NEW YORK, NY

12 West Capital Management LP reported $839,674,548 across 18 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 86.65% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001540531-26-000002

Period
2025-12-31
Reported value
$840M
Holdings
18
Top 10 weight
86.65%
New
3
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
HEnew+1,850,000$22.8M
BBNXnew+575,000$17.5M
SHAKadded+210,000$17M
CPNGnew+250,000$5.9M
TOSTadded+65,000$2.31M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
Uexited-965,000-$38.6M
TBBBreduced-1,020,000-$34.1M
MRVIreduced-3,600,000-$11.7M
SDHCexited-535,140-$9.45M
WINGreduced-35,000-$8.35M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001540531-26-000002, largest first. % of portfolio is the value over $839,674,548, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SHAKSHAKE SHACK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,793,099 shares; 2024Q4: 1,764,118 shares; 2025Q1: 1,618,595 shares; 2025Q2: 1,543,595 shares; 2025Q3: 1,753,595 shares; 2025Q4: 1,963,595 shares 1,963,595$159M18.98%+210,000Timeline
GDSGDS HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,683,974 shares; 2024Q4: 5,609,137 shares; 2025Q1: 4,864,476 shares; 2025Q2: 4,864,476 shares; 2025Q3: 4,521,976 shares; 2025Q4: 4,283,776 shares 4,283,776$150M17.8%-238,200Timeline
RBLXROBLOX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,031,988 shares; 2024Q4: 2,061,988 shares; 2025Q1: 1,183,000 shares; 2025Q2: 1,133,000 shares; 2025Q3: 1,065,000 shares; 2025Q4: 1,050,000 shares 1,050,000$85.1M10.13%-15,000Timeline
TBBBBBB FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,716,558 shares; 2025Q1: 2,289,058 shares; 2025Q2: 2,419,058 shares; 2025Q3: 3,382,770 shares; 2025Q4: 2,362,770 shares 2,362,770$78.9M9.4%-1,020,000Timeline
TOSTTOAST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,754,840 shares; 2024Q4: 3,074,840 shares; 2025Q1: 1,762,840 shares; 2025Q2: 1,762,840 shares; 2025Q3: 1,782,840 shares; 2025Q4: 1,847,840 shares 1,847,840$65.6M7.81%+65,000Timeline
KVYOKLAVIYO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,313,000 shares; 2025Q3: 1,838,000 shares; 2025Q4: 1,838,000 shares 1,838,000$59.7M7.11%0Timeline
RGENREPLIGEN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 252,849 shares; 2024Q4: 246,875 shares; 2025Q1: 241,233 shares; 2025Q2: 241,233 shares; 2025Q3: 241,233 shares; 2025Q4: 241,233 shares 241,233$39.5M4.71%0Timeline
NETCLOUDFLARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 165,000 shares; 2024Q4: 165,000 shares; 2025Q1: 165,000 shares; 2025Q2: 165,000 shares; 2025Q3: 165,000 shares; 2025Q4: 165,000 shares 165,000$32.5M3.87%0Timeline
MRVIMARAVAI LIFESCIENCES HLDGS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,011,179 shares; 2024Q4: 11,591,335 shares; 2025Q1: 12,521,335 shares; 2025Q2: 12,521,335 shares; 2025Q3: 12,521,335 shares; 2025Q4: 8,921,335 shares 8,921,335$29M3.45%-3,600,000Timeline
KRUSKURA SUSHI USA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 493,415 shares; 2024Q4: 556,415 shares; 2025Q1: 556,415 shares; 2025Q2: 556,415 shares; 2025Q3: 556,415 shares; 2025Q4: 541,415 shares 541,415$28.3M3.37%-15,000Timeline
AFRMAFFIRM HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 325,000 shares; 2025Q2: 350,000 shares; 2025Q3: 350,000 shares; 2025Q4: 350,000 shares 350,000$26.1M3.1%0Timeline
HEHAWAIIAN ELEC INDS INC MTN BQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,850,000 shares 1,850,000$22.8M2.71%newTimeline
WINGWINGSTOP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 114,000 shares; 2025Q2: 114,000 shares; 2025Q3: 114,000 shares; 2025Q4: 79,000 shares 79,000$18.8M2.24%-35,000Timeline
BBNXBETA BIONICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 575,000 shares 575,000$17.5M2.09%newTimeline
FWRGFIRST WATCH RESTAURANT GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,675,486 shares; 2024Q4: 2,013,406 shares; 2025Q1: 1,490,701 shares; 2025Q2: 1,490,701 shares; 2025Q3: 1,490,701 shares; 2025Q4: 1,070,701 shares 1,070,701$16.1M1.92%-420,000Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 250,000 shares 250,000$5.9M0.7%newTimeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,375,000 shares; 2025Q2: 275,000 shares; 2025Q3: 275,000 shares; 2025Q4: 185,000 shares 185,000$3.1M0.37%-90,000Timeline
OSCROSCAR HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 186,855 shares; 2024Q4: 186,855 shares; 2025Q1: 186,855 shares; 2025Q2: 186,855 shares; 2025Q3: 186,855 shares; 2025Q4: 126,855 shares 126,855$1.82M0.22%-60,000Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
UUNITY SOFTWARE INC965,000$38.6Mshares
SDHCSMITH DOUGLAS HOMES CORP535,140$9.45Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001540531-26-000002 base2026-02-17acceptance time not in the bulk data set