Prentice Capital Management, LP

Key Holdings

The portfolio is dominated by "story stocks" and companies that have experienced significant drawdowns from their historical highs, suggesting a focus on turnaround or recovery scenarios.

• SNAP Inc. (SNAP): Remaining the largest position at 23.93% ($9.10M), Prentice Capital increased its stake by 41.7%. This indicates strong conviction in the social media giant despite its volatility.
• Peloton Interactive Inc. (PTON): The second-largest holding (18.09%) saw the largest absolute capital injection during the quarter. The firm added $2.93 million (+34.3%), signaling a belief that the connected fitness company is stabilizing or undervalued.
• NextNav Inc. (NN): A unique positioning in the portfolio, this healthcare/tech hybrid holds the third spot at 16.64%. While the position size increased slightly (+2.5%), it remains a core anchor.
• Compass Inc. (COMP) & Frontier Group Holdings (ULCC): These positions saw massive percentage increases of 594.2% and 596.1%, respectively. While the dollar amounts added ($2.47M and $2.06M) were smaller than the top two, the aggressive accumulation suggests these are high-beta plays on the real estate recovery and travel demand.