12 West Capital Management LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), 12 West Capital Management LP reported 20 stock positions worth $592.4 million. Its top holding was Shake Shack Class A (SHAK) at 18.6% of the portfolio, followed by GDS Holdings Ltd. - ADR (GDS, 17.5%) and BBB Foods Class A (TBBB, 13.7%). Compared with Q4 2025, it opened 8 new positions, sold out of 6, added to 1 and reduced 10. The biggest buy was a new position in Warby Parker Class A (WRBY) and the biggest sale an exit from Klaviyo Class A (KVYO).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001540531
- Portfolio Value
- $592.4M (Q1 2026)
- SEC Filing
- 0001540531-26-000003 ↗ filed May 15, 2026
Holdings Value
Holdings 20 stocks · $592.4M
| SHAK Shake Shack Inc. Class A | 18.57% | 1,243,595 | $110.0M | Reduce -36.7% |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 17.52% | 2,576,576 | $103.8M | Reduce -39.9% |
| TBBB BBB Foods Inc. Class A | 13.66% | 2,287,770 | $80.9M | Reduce -3.2% |
| RBLX Roblox Corp. Class A | 9.07% | 950,000 | $53.7M | Reduce -9.5% |
| TOST Toast Inc. Class A | 5.58% | 1,247,840 | $33.1M | Reduce -32.5% |
| KRUS Kura Sushi USA Inc. Class A | 5.26% | 446,415 | $31.2M | Reduce -17.6% |
| WRBY Warby Parker Inc. Class A | 4.64% | 1,304,727 | $27.5M | New |
| HE Hawaiian Electric Inds | 4.51% | 1,800,000 | $26.7M | Reduce -2.7% |
| AFRM Affirm Holdings Inc. | 4.14% | 535,000 | $24.5M | Add +52.9% |
| RGEN Repligen Corp. | 3.80% | 191,233 | $22.5M | Reduce -20.7% |
| NET Cloudflare Inc. Class A | 3.66% | 105,000 | $21.7M | Reduce -36.4% |
| MRVI Maravai Lifesciences Hldgs-A | 3.47% | 7,260,195 | $20.5M | Reduce -18.6% |
| HTFL Heartflow Inc. | 2.63% | 640,000 | $15.6M | New |
| SHOP Shopify Inc. Class A | 1.04% | 52,000 | $6.2M | New |
| OFRM Once Upon A Farm PBC | 1.01% | 365,000 | $6.0M | New |
| ELF Elf Beauty Inc. | 0.72% | 70,000 | $4.2M | New |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.45% | 185,000 | $2.7M | No change |
| AEHR Aehr Test Systems | 0.14% | 22,000 | $816K | New |
| CRWV Coreweave Inc. Class A | 0.09% | 7,000 | $542K | New |
| ACMR Acm Research Inc. Class A | 0.04% | 6,100 | $240K | New |
Portfolio Sells Q4 2025 → Q1 2026
| KVYO Klaviyo Inc. Class A | Sold out | 0.00% | −7.11 |
| WING Wingstop Inc. | Sold out | 0.00% | −2.24 |
| TOST Toast Inc. Class A | Reduce -32.5% | 5.58% | −2.23 |
| BBNX Beta Bionics Inc. | Sold out | 0.00% | −2.09 |
| FWRG First Watch Restaurant Group | Sold out | 0.00% | −1.92 |
| RBLX Roblox Corp. Class A | Reduce -9.5% | 9.07% | −1.06 |
| RGEN Repligen Corp. | Reduce -20.7% | 3.80% | −0.90 |
| CPNG Coupang Inc. | Sold out | 0.00% | −0.70 |
| SHAK Shake Shack Inc. Class A | Reduce -36.7% | 18.57% | −0.41 |
| GDS GDS Holdings Ltd. - ADR | Reduce -39.9% | 17.52% | −0.28 |
| OSCR Oscar Health Inc. Class A | Sold out | 0.00% | −0.22 |
| NET Cloudflare Inc. Class A | Reduce -36.4% | 3.66% | −0.22 |
| MRVI Maravai Lifesciences Hldgs-A | Reduce -18.6% | 3.47% | +0.02 |
| HE Hawaiian Electric Inds | Reduce -2.7% | 4.51% | +1.80 |
| KRUS Kura Sushi USA Inc. Class A | Reduce -17.6% | 5.26% | +1.89 |
| TBBB BBB Foods Inc. Class A | Reduce -3.2% | 13.66% | +4.26 |
Portfolio Buys Q4 2025 → Q1 2026
| WRBY Warby Parker Inc. Class A | New | 4.64% | +4.64 |
| HTFL Heartflow Inc. | New | 2.63% | +2.63 |
| SHOP Shopify Inc. Class A | New | 1.04% | +1.04 |
| AFRM Affirm Holdings Inc. | Add +52.9% | 4.14% | +1.04 |
| OFRM Once Upon A Farm PBC | New | 1.01% | +1.01 |
| ELF Elf Beauty Inc. | New | 0.72% | +0.72 |
| AEHR Aehr Test Systems | New | 0.14% | +0.14 |
| CRWV Coreweave Inc. Class A | New | 0.09% | +0.09 |
| ACMR Acm Research Inc. Class A | New | 0.04% | +0.04 |
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 |