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Ararat Capital Management LP

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13F filer, CIK 1768757, WESTPORT, CT

Ararat Capital Management LP reported $186,517,966 across 20 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 72.97% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001768757-25-000011

Period
2025-09-30
Reported value
$187M
Holdings
20
Top 10 weight
72.97%
New
2
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
FLYWnew+774,864$10.5M
KLCnew+550,644$3.66M
EWCZadded+647,770$2.58M
NCNOadded+88,752$2.41M
DRVNadded+10,465$169K

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
INTEGRAL AD SCIENCE HLDNG COreduced-1,487,747-$15.1M
GILreduced-137,548-$7.95M
CWHreduced-364,947-$5.76M
PLOWreduced-149,921-$4.69M
LZreduced-422,101-$4.38M

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, Q3 2025

Share positions as resolved from 13F-HR 0001768757-25-000011, largest first. % of portfolio is the value over $186,517,966, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BYBYLINE BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 827,312 shares; 2024Q4: 801,925 shares; 2025Q1: 806,515 shares; 2025Q2: 785,192 shares; 2025Q3: 679,116 shares 679,116$18.8M10.1%-106,076Timeline
LZLEGALZOOM COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,565,804 shares; 2024Q4: 3,248,482 shares; 2025Q1: 1,335,604 shares; 2025Q2: 2,137,457 shares; 2025Q3: 1,715,356 shares 1,715,356$17.8M9.55%-422,101Timeline
DRVNDRIVEN BRANDS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 723,592 shares; 2025Q2: 1,087,249 shares; 2025Q3: 1,097,714 shares 1,097,714$17.7M9.48%+10,465Timeline
PLOWDOUGLAS DYNAMICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 573,931 shares; 2024Q4: 807,186 shares; 2025Q1: 719,875 shares; 2025Q2: 584,919 shares; 2025Q3: 434,998 shares 434,998$13.6M7.29%-149,921Timeline
GILGILDAN ACTIVEWEAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 403,089 shares; 2024Q4: 405,393 shares; 2025Q1: 388,625 shares; 2025Q2: 355,233 shares; 2025Q3: 217,685 shares 217,685$12.6M6.75%-137,548Timeline
EWCZEUROPEAN WAX CTR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,237,244 shares; 2024Q4: 2,418,693 shares; 2025Q1: 3,351,036 shares; 2025Q2: 2,466,997 shares; 2025Q3: 3,114,767 shares 3,114,767$12.4M6.66%+647,770Timeline
EYENATIONAL VISION HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 919,883 shares; 2025Q2: 507,749 shares; 2025Q3: 398,289 shares 398,289$11.6M6.23%-109,460Timeline
SGISOMNIGROUP INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 396,360 shares; 2024Q4: 223,901 shares; 2025Q1: 190,208 shares; 2025Q2: 133,456 shares; 2025Q3: 133,456 shares 133,456$11.3M6.03%0Timeline
FLYWFLYWIRE CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 774,864 shares 774,864$10.5M5.63%newTimeline
NCNONCINO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 329,459 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 272,540 shares; 2025Q3: 361,292 shares 361,292$9.79M5.25%+88,752Timeline
CWHCAMPING WORLD HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 578,961 shares; 2024Q4: 865,821 shares; 2025Q1: 885,293 shares; 2025Q2: 808,063 shares; 2025Q3: 443,116 shares 443,116$7M3.75%-364,947Timeline
INTEGRAL AD SCIENCE HLDNG COINTEGRAL AD SCIENCE HLDNG COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,012,566 shares; 2024Q4: 2,281,912 shares; 2025Q1: 1,589,834 shares; 2025Q2: 2,156,154 shares; 2025Q3: 668,407 shares 668,407$6.8M3.64%-1,487,747
KVYOKLAVIYO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 282,838 shares; 2025Q3: 221,107 shares 221,107$6.12M3.28%-61,731Timeline
CARGCARGURUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 244,712 shares; 2025Q3: 151,021 shares 151,021$5.62M3.01%-93,691Timeline
GDDYGODADDY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 63,529 shares; 2024Q4: 54,771 shares; 2025Q1: 47,018 shares; 2025Q2: 42,654 shares; 2025Q3: 35,027 shares 35,027$4.79M2.57%-7,627Timeline
FROGJFROG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 512,308 shares; 2024Q4: 585,926 shares; 2025Q1: 447,766 shares; 2025Q2: 165,403 shares; 2025Q3: 101,054 shares 101,054$4.78M2.56%-64,349Timeline
USFDUS FOODS HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 247,098 shares; 2024Q4: 206,000 shares; 2025Q1: 135,040 shares; 2025Q2: 114,905 shares; 2025Q3: 61,773 shares 61,773$4.73M2.54%-53,132Timeline
PAYCPAYCOM SOFTWARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 62,982 shares; 2024Q4: 54,863 shares; 2025Q1: 52,040 shares; 2025Q2: 21,989 shares; 2025Q3: 18,126 shares 18,126$3.77M2.02%-3,863Timeline
KLCKINDERCARE LEARNING COMPANIEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 550,644 shares 550,644$3.66M1.96%newTimeline
FNKOFUNKO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,218,278 shares; 2025Q3: 914,102 shares 914,102$3.14M1.69%-304,176Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
BIG 5 SPORTING GOODS CORPBIG 5 SPORTING GOODS CORP150,000$213Kput

How Q3 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 0001768757-25-000011 base2025-11-14acceptance time not in the bulk data set