Managers / Q1 2026
Ararat Capital Management LP
CIK 0001768757 · 2 RAILROAD PLACE, WESTPORT, CT, 06880 · 646-779-6400
Summary
Ararat Capital Management LP reported $178M in U.S.-listed holdings across 15 positions for Q1 2026.
Its largest position, BY, represents 11.1% of the portfolio.
Compared with Q4 2025, the fund opened 1 new position and exited 4.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 92.7% · $165M
- Other · 7.3% · $13M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ITGRINTEGER HLDGS CORP | NEW | +61.5K | 61.5K | +$5M | $5M |
| FNKOFUNKO INC | ADDED | +1.67M | 2.51M | +$5M | $8M |
| 8QRCONFLUENT INC | SOLD OUT | −701.2K | 0 | −$21M | $0 |
| TPDSOMNIGROUP INTERNATIONAL INC | SOLD OUT | −106.0K | 0 | −$9M | $0 |
| NCNONCINO INC | SOLD OUT | −248.9K | 0 | −$6M | $0 |
| KLCKINDERCARE LEARNING COMPANIE | SOLD OUT | −601.5K | 0 | −$3M | $0 |
| DRVNDRIVEN BRANDS HLDGS INC | TRIMMED | −1.18M | 91.6K | −$18M | $1M |
| FLYWFLYWIRE CORPORATION | ADDED | +551.9K | 1.44M | +$4M | $17M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BYBYLINE BANCORP INChistory → | COM | 11.09% | $20M | 623.8K |
| 2 | EWCZEUROPEAN WAX CTR INChistory → | CLASS A COM | 10.10% | $18M | 3.10M |
| 3 | FLYWFLYWIRE CORPORATIONhistory → | COM VTG | 9.47% | $17M | 1.44M |
| 4 | RELYREMITLY GLOBAL INChistory → | COM | 8.95% | $16M | 1.01M |
| 5 | EYENATIONAL VISION HLDGS INChistory → | COM | 8.27% | $15M | 567.1K |
| 6 | GILGILDAN ACTIVEWEAR INChistory → | COM | 7.71% | $14M | 246.1K |
| 7 | PLOWDOUGLAS DYNAMICS INChistory → | COM | 7.62% | $14M | 321.8K |
| 8 | CARGCARGURUS INChistory → | COM CL A | 7.36% | $13M | 383.9K |
| 9 | GLOBAL E ONLINE LTD | SHS | 7.31% | $13M | 420.7K |
| 10 | LZLEGALZOOM COM INChistory → | COM | 7.00% | $12M | 2.19M |
| 11 | USFDUS FOODS HLDG CORPhistory → | COM | 5.14% | $9M | 99.0K |
| 12 | FNKOFUNKO INChistory → | COM CL A | 4.46% | $8M | 2.51M |
| 13 | ITGRINTEGER HLDGS CORPhistory → | COM | 3.05% | $5M | 61.5K |
| 14 | GDDYGODADDY INChistory → | CL A | 1.82% | $3M | 39.1K |
| 15 | DRVNDRIVEN BRANDS HLDGS INC | COM | 0.65% | $1M | 91.6K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $178M | 15 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $203M | 18 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $187M | 20 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $221M | 19 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $204M | 16 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $251M | 16 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $290M | 18 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $326M | 21 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $352M | 23 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $345M | 19 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $294M | 18 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $300M | 18 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $314M | 21 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $300M | 19 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $239M | 17 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $278M | 17 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $313M | 16 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $318M | 19 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $283M | 18 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $217M | 22 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $184M | 20 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $173M | 18 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.