13F Insight
DOSSIER · 13F-HR · Q1 2026

Greenhouse Funds LLLP

$2.2B in tracked AUM across 33 positions as of Q1 2026.

GF
CIK 0001626220 · last filed Mar 31, 2026
Total AUM
$2.2B
as of Q1 2026
Holdings
33
—
positions
Whale Score
67
67
tracked
Activity
—
no data
changes this Q
AI Analysis · Q1 2026

Portfolio Overview

Greenhouse Funds LLLP reported a significant contraction in portfolio value for the quarter ending September 30, 2025. The total assets under management (AUM) decreased by 26.8%, dropping from $2.42 billion to $1.77 billion. This reduction in capital was driven by a combination of market depreciation and active portfolio realignment. The fund maintains a relatively concentrated portfolio with 27 total holdings, indicating a high-conviction strategy rather than broad marke...

The turnover during this period was substantial. The manager aggressively restructured the portfolio, exiting 11 positions while initiating only one new holding. Furthermore, the fund increased stakes in 15 existing positions, suggesting a strategy of reallocating capital from sold names into higher-conviction existing winners. The "Unknown" sector classification ($522.98M, ~29.5% of the portfolio) likely represents foreign issuers (such as Sportradar Group AG) or ADRs where sector classification was not provided in the raw data, but which likely fall under Technology or Consumer Cyclical sectors.

Key Holdings

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
H8088L103
SPORTRADAR GROUP AG
$157M9.4M7.0%02
GSAT
GLOBALSTAR INC
$146M2.2M6.5%03
G66721104
NORWEGIAN CRUISE LINE HLDGS
$142M7.6M6.4%04
VYX
NCR VOYIX CORPORATION
$142M22.4M6.4%05
RBC
RBC BEARINGS INC
$127M234K5.7%06
BILL
BILL HOLDINGS INC
$122M3.2M5.5%07
HQY
HEALTHEQUITY INC
$105M1.3M4.7%08
MCW
MISTER CAR WASH INC
$93M13.3M4.2%09
CDRE
CADRE HLDGS INC
$88M2.9M3.9%10
HAYW
HAYWARD HLDGS INC
$86M6.4M3.8%

Filing history

2026Q1Mar 31
$2.2B▼ 19.3%
33 positionsView →2025Q4Dec 31
$2.8B▲ 56.1%
40 positionsView →2025Q3Sep 30
$1.8B▼ 26.8%
27 positionsView →2025Q2Jun 30
$2.4B▲ 73.1%
34 positionsLocked2025Q1Mar 31
$1.4B▼ 41.6%
27 positionsLocked2024Q4Dec 31
$2.4B▼ 8.1%
39 positionsLocked2024Q3Sep 30
$2.6B▲ 31.1%
38 positionsLocked2024Q2Jun 30
$2.0B▲ 20.3%
40 positionsLocked2024Q1Mar 31
$1.7B▲ 9.1%
37 positionsLocked2023Q4Dec 31
$1.5B▲ 12.2%
35 positionsLocked2023Q3Sep 30
$1.4B▲ 5.5%
40 positionsLocked2023Q2Jun 30
$1.3B▲ 7.4%
36 positionsLocked
Showing 12 of 34