12 West Capital Management LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), 12 West Capital Management LP reported 17 stock positions worth $677.6 million. Its top holding was Shake Shack Class A (SHAK) at 21.1% of the portfolio, followed by GDS Holdings Ltd. - ADR (GDS, 18.2%) and Roblox Class A (RBLX, 10.2%). Compared with Q4 2024, it opened 6 new positions, sold out of 5, added to 2 and reduced 6. The biggest buy was BBB Foods Class A (TBBB, shares +33%) and the biggest sale an exit from Datadog Class A (DDOG).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001540531
- Portfolio Value
- $677.6M (Q1 2025)
- SEC Filing
- 0002009911-25-000005 ↗ filed May 15, 2025
Holdings Value
Holdings 17 stocks · $677.6M
| SHAK Shake Shack Inc. Class A | 21.06% | 1,618,595 | $142.7M | Reduce -8.3% |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 18.18% | 4,864,476 | $123.2M | Reduce -13.3% |
| RBLX Roblox Corp. Class A | 10.18% | 1,183,000 | $69.0M | Reduce -42.6% |
| TBBB BBB Foods Inc. Class A | 9.01% | 2,289,058 | $61.1M | Add +33.4% |
| TOST Toast Inc. Class A | 8.63% | 1,762,840 | $58.5M | Reduce -42.7% |
| RGEN Repligen Corp. | 4.53% | 241,233 | $30.7M | Reduce -2.3% |
| KRUS Kura Sushi USA Inc. Class A | 4.20% | 556,415 | $28.5M | No change |
| MRVI Maravai Lifesciences Hldgs-A | 4.08% | 12,521,335 | $27.7M | Add +8.0% |
| WING Wingstop Inc. | 3.80% | 114,000 | $25.7M | New |
| FWRG First Watch Restaurant Group | 3.66% | 1,490,701 | $24.8M | Reduce -26.0% |
| WRBY Warby Parker Inc. Class A | 3.16% | 1,175,000 | $21.4M | New |
| NET Cloudflare Inc. Class A | 2.74% | 165,000 | $18.6M | No change |
| AFRM Affirm Holdings Inc. | 2.17% | 325,000 | $14.7M | New |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 2.08% | 1,375,000 | $14.1M | New |
| MNDY Monday.com Ltd. | 1.22% | 34,000 | $8.3M | New |
| SN Sharkninja Inc. | 0.92% | 75,000 | $6.3M | New |
| OSCR Oscar Health Inc. Class A | 0.36% | 186,855 | $2.4M | No change |
Portfolio Sells Q4 2024 → Q1 2025
| DDOG Datadog Inc. Class A | Sold out | 0.00% | −3.99 |
| TOST Toast Inc. Class A | Reduce -42.7% | 8.63% | −3.11 |
| SHAK Shake Shack Inc. Class A | Reduce -8.3% | 21.06% | −2.93 |
| RBLX Roblox Corp. Class A | Reduce -42.6% | 10.18% | −2.32 |
| GO Grocery Outlet Holding Corp. | Sold out | 0.00% | −1.91 |
| VSXY Victoria's Secret & Co. | Sold out | 0.00% | −1.84 |
| TPR Tapestry Inc. | Sold out | 0.00% | −1.71 |
| GAP The Gap Inc. | Sold out | 0.00% | −1.61 |
| FWRG First Watch Restaurant Group | Reduce -26.0% | 3.66% | −0.26 |
| RGEN Repligen Corp. | Reduce -2.3% | 4.53% | +0.81 |
| GDS GDS Holdings Ltd. - ADR | Reduce -13.3% | 18.18% | +4.22 |
Portfolio Buys Q4 2024 → Q1 2025
| TBBB BBB Foods Inc. Class A | Add +33.4% | 9.01% | +3.93 |
| WING Wingstop Inc. | New | 3.80% | +3.80 |
| WRBY Warby Parker Inc. Class A | New | 3.16% | +3.16 |
| AFRM Affirm Holdings Inc. | New | 2.17% | +2.17 |
| NU Nu Holdings Ltd./Cayman Isl-A | New | 2.08% | +2.08 |
| MNDY Monday.com Ltd. | New | 1.22% | +1.22 |
| SN Sharkninja Inc. | New | 0.92% | +0.92 |
| MRVI Maravai Lifesciences Hldgs-A | Add +8.0% | 4.08% | −2.53 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 18 | $534.7M | GDS, TBBB, RBLX, SHAK, MRVI |
| Q1 2026 | 20 | $592.4M | SHAK, GDS, TBBB, RBLX, TOST |
| Q4 2025 | 18 | $839.7M | SHAK, GDS, RBLX, TBBB, TOST |
| Q3 2025 | 17 | $964.1M | GDS, SHAK, RBLX, TBBB, TOST |
| Q2 2025 | 17 | $945.5M | SHAK, GDS, RBLX, TOST, TBBB |
| Q1 2025 | 17 | $677.6M | SHAK, GDS, RBLX, TBBB, TOST |
| Q4 2024 | 16 | $954.6M | SHAK, GDS, RBLX, TOST, MRVI |
| Q3 2024 | 16 | $975.1M | SHAK, RBLX, MRVI, GDS, TOST |
| Q2 2024 | 18 | $970.3M | SHAK, GO, RBLX, PCOR, TOST |
| Q1 2024 | 23 | $1.1B | SHAK, PCOR, MRVI, GO, TOST |