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Greenhouse Funds LLLP

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13F filer, CIK 1626220, BALTIMORE, MD

Greenhouse Funds LLLP reported $2,768,540,965 across 40 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 50.1% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001626220-26-000002

Period
2025-12-31
Reported value
$2.77B
Holdings
40
Top 10 weight
50.1%
New
8
Sold out
7

Largest buys vs the previous quarter

SecurityShares changeApprox. value
TOSTnew+1,860,143$66.1M
FLSnew+552,830$38.4M
NOVTnew+226,071$26.9M
CHYMadded+939,040$23.6M
UNFnew+63,894$12.3M

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
EFXexited-303,587-$77.9M
BLKBexited-802,904-$51.6M
GTLBreduced-866,034-$32.5M
SAIAexited-104,375-$31.2M
PHRreduced-1,410,567-$23.9M

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 0001626220-26-000002, largest first. % of portfolio is the value over $2,589,234,834, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VYXNCR VOYIX CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,545,822 shares; 2024Q4: 8,332,854 shares; 2025Q1: 12,531,290 shares; 2025Q2: 17,069,979 shares; 2025Q3: 17,510,516 shares; 2025Q4: 18,350,987 shares 18,350,987$187M7.23%+840,471Timeline
BILLBILL HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,385,615 shares; 2024Q4: 1,396,617 shares; 2025Q1: 2,348,766 shares; 2025Q2: 2,889,979 shares; 2025Q3: 3,025,811 shares; 2025Q4: 2,933,926 shares 2,933,926$160M6.18%-91,885Timeline
SRADSPORTRADAR GROUP AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,660,011 shares; 2024Q4: 9,853,973 shares; 2025Q1: 7,842,378 shares; 2025Q2: 7,971,654 shares; 2025Q3: 6,314,006 shares; 2025Q4: 6,621,554 shares 6,621,554$157M6.08%+307,548Timeline
GSATGLOBALSTAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,815,691 shares; 2025Q2: 2,025,516 shares; 2025Q3: 2,149,192 shares; 2025Q4: 2,224,845 shares 2,224,845$136M5.24%+75,653Timeline
NCLHNORWEGIAN CRUISE LINE HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,693,558 shares; 2024Q4: 3,356,290 shares; 2025Q1: 4,100,848 shares; 2025Q2: 4,829,045 shares; 2025Q3: 5,075,270 shares; 2025Q4: 5,298,649 shares 5,298,649$118M4.57%+223,379Timeline
CDRECADRE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,704,790 shares; 2024Q4: 2,616,728 shares; 2025Q1: 2,529,967 shares; 2025Q2: 2,743,265 shares; 2025Q3: 2,789,410 shares; 2025Q4: 2,792,035 shares 2,792,035$114M4.4%+2,625Timeline
MSGSMADISON SQUARE GRDN SPRT CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 412,686 shares; 2024Q4: 394,620 shares; 2025Q1: 408,327 shares; 2025Q2: 434,910 shares; 2025Q3: 424,070 shares; 2025Q4: 422,091 shares 422,091$109M4.22%-1,979Timeline
GTMZOOMINFO TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,996,632 shares; 2024Q4: 7,295,163 shares; 2025Q1: 7,980,331 shares; 2025Q2: 9,692,470 shares; 2025Q3: 10,524,798 shares; 2025Q4: 10,632,097 shares 10,632,097$108M4.18%+107,299Timeline
RBCRBC BEARINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 132,579 shares; 2024Q4: 155,885 shares; 2025Q1: 177,661 shares; 2025Q2: 227,434 shares; 2025Q3: 233,578 shares; 2025Q4: 235,187 shares 235,187$105M4.07%+1,609Timeline
CFLTCONFLUENT INC-CLASS AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,449 shares; 2024Q4: 1,820,446 shares; 2025Q1: 2,516,338 shares; 2025Q2: 3,097,695 shares; 2025Q3: 3,572,425 shares; 2025Q4: 3,366,843 shares 3,366,843$102M3.93%-205,582Timeline
NEONEOGENOMICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,464,406 shares; 2024Q4: 4,701,897 shares; 2025Q1: 4,708,324 shares; 2025Q2: 7,431,147 shares; 2025Q3: 8,220,657 shares; 2025Q4: 8,643,846 shares 8,643,846$102M3.93%+423,189Timeline
HQYHEALTHEQUITY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 792,469 shares; 2024Q4: 884,404 shares; 2025Q1: 765,185 shares; 2025Q2: 911,815 shares; 2025Q3: 1,068,921 shares; 2025Q4: 1,079,704 shares 1,079,704$98.9M3.82%+10,783Timeline
MCWMISTER CAR WASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,940,682 shares; 2024Q4: 11,854,711 shares; 2025Q1: 14,050,551 shares; 2025Q2: 15,418,871 shares; 2025Q3: 16,863,562 shares; 2025Q4: 16,549,713 shares 16,549,713$92M3.55%-313,849Timeline
HAYWHAYWARD HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,197,511 shares; 2024Q4: 3,199,663 shares; 2025Q1: 4,589,097 shares; 2025Q2: 5,253,834 shares; 2025Q3: 5,848,381 shares; 2025Q4: 5,952,001 shares 5,952,001$92M3.55%+103,620Timeline
OLEDUNIVERSAL DISPLAY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 524,828 shares; 2024Q4: 583,603 shares; 2025Q1: 563,121 shares; 2025Q2: 644,146 shares; 2025Q3: 725,278 shares; 2025Q4: 774,330 shares 774,330$90.4M3.49%+49,052Timeline
XBISPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 264,245 shares; 2025Q2: 579,667 shares; 2025Q3: 675,975 shares; 2025Q4: 687,524 shares 687,524$83.8M3.24%+11,549Timeline
CHYMCHIME FINL 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: 757,833 shares; 2025Q3: 2,352,911 shares; 2025Q4: 3,291,951 shares 3,291,951$82.9M3.2%+939,040Timeline
VMIVALMONT INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 175,809 shares; 2024Q4: 175,809 shares; 2025Q1: 167,261 shares; 2025Q2: 202,370 shares; 2025Q3: 199,446 shares; 2025Q4: 204,124 shares 204,124$82.1M3.17%+4,678Timeline
MMSIMERIT MED SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 403,328 shares; 2024Q4: 403,328 shares; 2025Q1: 407,787 shares; 2025Q2: 587,912 shares; 2025Q3: 871,927 shares; 2025Q4: 867,227 shares 867,227$76.4M2.95%-4,700Timeline
TDYTELEDYNE TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 97,510 shares; 2025Q2: 125,765 shares; 2025Q3: 132,514 shares; 2025Q4: 149,466 shares 149,466$76.3M2.95%+16,952Timeline
TOSTTOAST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,707,197 shares; 2024Q4: 1,835,098 shares; 2025Q1: 1,038,048 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,860,143 shares 1,860,143$66.1M2.55%newTimeline
OIIOCEANEERING INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,445,433 shares; 2024Q4: 2,689,795 shares; 2025Q1: 2,268,079 shares; 2025Q2: 2,491,803 shares; 2025Q3: 2,491,803 shares; 2025Q4: 2,468,260 shares 2,468,260$59.3M2.29%-23,543Timeline
ALABASTERA LABS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 596,908 shares; 2024Q4: 253,492 shares; 2025Q1: 341,530 shares; 2025Q2: 534,535 shares; 2025Q3: 321,475 shares; 2025Q4: 314,417 shares 314,417$52.3M2.02%-7,058Timeline
ADTADT INC DELQuarterly 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: 5,128,811 shares; 2025Q4: 5,687,898 shares 5,687,898$45.9M1.77%+559,087Timeline
PHRPHREESIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,247,313 shares; 2024Q4: 2,873,892 shares; 2025Q1: 2,956,910 shares; 2025Q2: 3,325,262 shares; 2025Q3: 3,882,527 shares; 2025Q4: 2,471,960 shares 2,471,960$41.8M1.62%-1,410,567Timeline
FLSFLOWSERVE CORPQuarterly 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: 552,830 shares 552,830$38.4M1.48%newTimeline
NOVTNOVANTA 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: 226,071 shares 226,071$26.9M1.04%newTimeline
SGSWEETGREEN 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: 2,158,709 shares; 2025Q3: 3,946,884 shares; 2025Q4: 3,550,564 shares 3,550,564$24M0.93%-396,320Timeline
CLARCLARUS CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,441,771 shares; 2024Q4: 5,400,621 shares; 2025Q1: 5,448,431 shares; 2025Q2: 5,448,431 shares; 2025Q3: 5,448,431 shares; 2025Q4: 5,448,431 shares 5,448,431$18.3M0.7%0Timeline
CHEFCHEFS WHSE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,375,087 shares; 2024Q4: 2,452,981 shares; 2025Q1: 1,598,670 shares; 2025Q2: 862,733 shares; 2025Q3: 245,568 shares; 2025Q4: 236,270 shares 236,270$14.7M0.57%-9,298Timeline
UNFUNIFIRST CORP MASSQuarterly 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: 63,894 shares 63,894$12.3M0.48%newTimeline
GTLBGITLAB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 967,285 shares; 2024Q4: 718,849 shares; 2025Q1: 877,926 shares; 2025Q2: 1,264,258 shares; 2025Q3: 1,080,563 shares; 2025Q4: 214,529 shares 214,529$8.05M0.31%-866,034Timeline
LIVNLIVANOVA PLCQuarterly 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: 120,341 shares 120,341$7.4M0.29%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
GPNGLOBAL PMTS INC COMcall650,000$50.3M-100,000
CFLTCONFLUENT INC-CLASS A CLASS A COMcall1,000,000$30.2M0
FLRFLUOR CORP COMcall750,000$29.7Mnew
BILLBILL HOLDINGS INC COMcall500,000$27.3M0
SRADSPORTRADAR GROUP AG COMcall750,000$17.8Mnew
GSATGLOBALSTAR INC COMMON STOCKput200,000$12.2Mnew
ADTADT INC DEL Stockcall1,453,300$11.7M+453,300

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
EFXEQUIFAX INC303,587$77.9Mshares
BLKBBLACKBAUD INC802,904$51.6Mshares
SAIASAIA INC104,375$31.2Mshares
NCLHNORWEGIAN CRUISE LINE HLDGS1,000,000$24.6Mcall
GPNGLOBAL PMTS INC253,385$21.1Mshares
GTMZOOMINFO TECHNOLOGIES INC1,100,000$12Mcall
VYXNCR VOYIX CORPORATION459,000$5.76Mcall

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 0001626220-26-000002 base2026-02-17acceptance time not in the bulk data set