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Ararat Capital Management LP

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13F filer, CIK 1768757, WESTPORT, CT

Ararat Capital Management LP reported $202,971,758 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 75.87% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001768757-26-000001

Period
2025-12-31
Reported value
$203M
Holdings
18
Top 10 weight
75.87%
New
3
Sold out
5

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CFLTnew+701,170$21.2M
GLBEnew+318,626$12.5M
RELYnew+702,186$9.69M
CARGadded+179,948$6.9M
DRVNadded+172,275$2.55M

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
CWHexited-443,116-$7M
INTEGRAL AD SCIENCE HLDNG COexited-668,407-$6.8M
KVYOexited-221,107-$6.12M
FROGexited-101,054-$4.78M
PAYCexited-18,126-$3.77M

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 0001768757-26-000001, largest first. % of portfolio is the value over $202,971,758, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
CFLTCONFLUENT INC-CLASS AQuarterly 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: 701,170 shares 701,170$21.2M10.45%newTimeline
BYBYLINE BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 827,312 shares; 2024Q4: 801,925 shares; 2025Q1: 806,515 shares; 2025Q2: 785,192 shares; 2025Q3: 679,116 shares; 2025Q4: 651,196 shares 651,196$19M9.35%-27,920Timeline
DRVNDRIVEN BRANDS 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: 723,592 shares; 2025Q2: 1,087,249 shares; 2025Q3: 1,097,714 shares; 2025Q4: 1,269,989 shares 1,269,989$18.8M9.27%+172,275Timeline
LZLEGALZOOM COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,875,255 shares 1,875,255$18.6M9.17%+159,899Timeline
PLOWDOUGLAS DYNAMICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 573,931 shares; 2024Q4: 807,186 shares; 2025Q1: 719,875 shares; 2025Q2: 584,919 shares; 2025Q3: 434,998 shares; 2025Q4: 457,720 shares 457,720$14.9M7.36%+22,722Timeline
CARGCARGURUS 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: 244,712 shares; 2025Q3: 151,021 shares; 2025Q4: 330,969 shares 330,969$12.7M6.25%+179,948Timeline
FLYWFLYWIRE CORPORATIONQuarterly 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: 774,864 shares; 2025Q4: 892,850 shares 892,850$12.6M6.23%+117,986Timeline
GLBEGLOBAL E ONLINE LTDQuarterly 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: 318,626 shares 318,626$12.5M6.17%newTimeline
EYENATIONAL VISION 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: 919,883 shares; 2025Q2: 507,749 shares; 2025Q3: 398,289 shares; 2025Q4: 482,263 shares 482,263$12.5M6.13%+83,974Timeline
GILGILDAN ACTIVEWEAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 403,089 shares; 2024Q4: 405,393 shares; 2025Q1: 388,625 shares; 2025Q2: 355,233 shares; 2025Q3: 217,685 shares; 2025Q4: 177,864 shares 177,864$11.1M5.47%-39,821Timeline
RELYREMITLY GLOBAL 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: 702,186 shares 702,186$9.69M4.77%newTimeline
SGISOMNIGROUP INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 396,360 shares; 2024Q4: 223,901 shares; 2025Q1: 190,208 shares; 2025Q2: 133,456 shares; 2025Q3: 133,456 shares; 2025Q4: 106,002 shares 106,002$9.46M4.66%-27,454Timeline
EWCZEUROPEAN WAX CTR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,140,700 shares 2,140,700$7.71M3.8%-974,067Timeline
NCNONCINO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 329,459 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 272,540 shares; 2025Q3: 361,292 shares; 2025Q4: 248,900 shares 248,900$6.38M3.14%-112,392Timeline
USFDUS FOODS HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 247,098 shares; 2024Q4: 206,000 shares; 2025Q1: 135,040 shares; 2025Q2: 114,905 shares; 2025Q3: 61,773 shares; 2025Q4: 68,440 shares 68,440$5.15M2.54%+6,667Timeline
GDDYGODADDY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 63,529 shares; 2024Q4: 54,771 shares; 2025Q1: 47,018 shares; 2025Q2: 42,654 shares; 2025Q3: 35,027 shares; 2025Q4: 41,059 shares 41,059$5.09M2.51%+6,032Timeline
FNKOFUNKO 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: 1,218,278 shares; 2025Q3: 914,102 shares; 2025Q4: 849,041 shares 849,041$2.89M1.42%-65,061Timeline
KLCKINDERCARE LEARNING COMPANIEQuarterly 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: 550,644 shares; 2025Q4: 601,466 shares 601,466$2.6M1.28%+50,822Timeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
CWHCAMPING WORLD HLDGS INC443,116$7Mshares
INTEGRAL AD SCIENCE HLDNG COINTEGRAL AD SCIENCE HLDNG CO668,407$6.8Mshares
KVYOKLAVIYO INC221,107$6.12Mshares
FROGJFROG LTD101,054$4.78Mshares
PAYCPAYCOM SOFTWARE INC18,126$3.77Mshares

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 0001768757-26-000001 base2026-02-17acceptance time not in the bulk data set