12 West Capital Management LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), 12 West Capital Management LP reported 17 stock positions worth $964.1 million. Its top holding was GDS Holdings Ltd. - ADR (GDS) at 18.2% of the portfolio, followed by Shake Shack Class A (SHAK, 17.0%) and Roblox Class A (RBLX, 15.3%). Compared with Q2 2025, it opened 1 new position, sold out of 1, added to 4 and reduced 3. The biggest buy was a new position in Unity Software (U) and the biggest sale an exit from Sharkninja (SN).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001540531
- Portfolio Value
- $964.1M (Q3 2025)
- SEC Filing
- 0001540531-25-000009 ↗ filed Nov 14, 2025
Holdings Value
Holdings 17 stocks · $964.1M
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 18.15% | 4,521,976 | $175.0M | Reduce -7.0% |
| SHAK Shake Shack Inc. Class A | 17.03% | 1,753,595 | $164.2M | Add +13.6% |
| RBLX Roblox Corp. Class A | 15.30% | 1,065,000 | $147.5M | Reduce -6.0% |
| TBBB BBB Foods Inc. Class A | 9.46% | 3,382,770 | $91.2M | Add +39.8% |
| TOST Toast Inc. Class A | 6.75% | 1,782,840 | $65.1M | Add +1.1% |
| KVYO Klaviyo Inc. Class A | 5.28% | 1,838,000 | $50.9M | Add +40.0% |
| U Unity Software Inc. | 4.01% | 965,000 | $38.6M | New |
| MRVI Maravai Lifesciences Hldgs-A | 3.73% | 12,521,335 | $35.9M | No change |
| NET Cloudflare Inc. Class A | 3.67% | 165,000 | $35.4M | No change |
| KRUS Kura Sushi USA Inc. Class A | 3.43% | 556,415 | $33.1M | No change |
| RGEN Repligen Corp. | 3.34% | 241,233 | $32.2M | No change |
| WING Wingstop Inc. | 2.98% | 114,000 | $28.7M | No change |
| AFRM Affirm Holdings Inc. | 2.65% | 350,000 | $25.6M | No change |
| FWRG First Watch Restaurant Group | 2.42% | 1,490,701 | $23.3M | No change |
| SDHC Smith Douglas Homes Corp. | 0.98% | 535,140 | $9.5M | Reduce -26.9% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.46% | 275,000 | $4.4M | No change |
| OSCR Oscar Health Inc. Class A | 0.37% | 186,855 | $3.5M | No change |
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
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 |