Ararat Capital Management LP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Ararat Capital Management LP reported 16 stock positions worth $250.5 million. Its top holding was Legalzoomcom (LZ) at 9.7% of the portfolio, followed by Enfusion Class A (ENFN, 9.6%) and Integral Ad Science (IAS, 9.5%). Compared with Q3 2024, it opened 1 new position, sold out of 3, added to 7 and reduced 8. The biggest buy was Legalzoomcom (LZ, shares +27%) and the biggest sale an exit from Squarespace Class A (SQSP).
- Most Recent 13F
- Q2 2026
- Location
- WESTPORT, CT
- CIK
- 0001768757
- Portfolio Value
- $250.5M (Q4 2024)
- SEC Filing
- 0001768757-25-000002 ↗ filed Feb 14, 2025
Holdings Value
Holdings 16 stocks · $250.5M
| LZ Legalzoomcom Inc. | 9.74% | 3,248,482 | $24.4M | Add +26.6% |
| ENFN Enfusion Inc. Class A | 9.63% | 2,341,929 | $24.1M | Reduce -9.0% |
| IAS Integral Ad Science Holding | 9.51% | 2,281,912 | $23.8M | Add +13.4% |
| BY Byline Bancorp Inc. | 9.28% | 801,925 | $23.3M | Reduce -3.1% |
| PLOW Douglas Dynamics Inc. | 7.61% | 807,186 | $19.1M | Add +40.6% |
| GIL Gildan Activewear Inc. | 7.61% | 405,393 | $19.1M | Add +0.6% |
| CWH Camping World Holdings Inc. Class A | 7.28% | 865,821 | $18.3M | Add +49.5% |
| FROG Jfrog Ltd. | 6.88% | 585,926 | $17.2M | Add +14.4% |
| EWCZ European Wax Center Inc. Class A | 6.44% | 2,418,693 | $16.1M | Add +8.1% |
| USFD US Foods Holding Corp. | 5.55% | 206,000 | $13.9M | Reduce -16.6% |
| SGI Somnigroup International Inc. filed as TEMPUR SEALY INTL INC | 5.07% | 223,901 | $12.7M | Reduce -43.5% |
| PAYC Paycom Software Inc. | 4.49% | 54,863 | $11.2M | Reduce -12.9% |
| GDDY GoDaddy Inc. Class A | 4.31% | 54,771 | $10.8M | Reduce -13.8% |
| KNX Knight-Swift Transportation | 3.77% | 178,011 | $9.4M | Reduce -43.3% |
| KBR KBR Inc. | 1.81% | 78,090 | $4.5M | Reduce -60.8% |
| TTAN Servicetitan Inc. Class A | 1.03% | 25,000 | $2.6M | New |
Portfolio Sells Q3 2024 → Q4 2024
| SQSP Squarespace Inc. Class A | Sold out | 0.00% | −9.45 |
| NCNO Ncino Inc. | Sold out | 0.00% | −3.59 |
| KBR KBR Inc. | Reduce -60.8% | 1.81% | −2.67 |
| SGI Somnigroup International Inc. | Reduce -43.5% | 5.07% | −2.40 |
| KNX Knight-Swift Transportation | Reduce -43.3% | 3.77% | −2.08 |
| THR Thermon Group Holdings Inc. | Sold out | 0.00% | −0.42 |
| USFD US Foods Holding Corp. | Reduce -16.6% | 5.55% | +0.30 |
| PAYC Paycom Software Inc. | Reduce -12.9% | 4.49% | +0.87 |
| GDDY GoDaddy Inc. Class A | Reduce -13.8% | 4.31% | +0.88 |
| ENFN Enfusion Inc. Class A | Reduce -9.0% | 9.63% | +1.20 |
| BY Byline Bancorp Inc. | Reduce -3.1% | 9.28% | +1.64 |
Portfolio Buys Q3 2024 → Q4 2024
| LZ Legalzoomcom Inc. | Add +26.6% | 9.74% | +4.11 |
| CWH Camping World Holdings Inc. Class A | Add +49.5% | 7.28% | +2.45 |
| PLOW Douglas Dynamics Inc. | Add +40.6% | 7.61% | +2.15 |
| IAS Integral Ad Science Holding | Add +13.4% | 9.51% | +2.00 |
| FROG Jfrog Ltd. | Add +14.4% | 6.88% | +1.74 |
| EWCZ European Wax Center Inc. Class A | Add +8.1% | 6.44% | +1.19 |
| GIL Gildan Activewear Inc. | Add +0.6% | 7.61% | +1.06 |
| TTAN Servicetitan Inc. Class A | New | 1.03% | +1.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 17 | $213.5M | FLYW, RELY, BY, GLBE, ITGR |
| Q1 2026 | 15 | $177.6M | BY, EWCZ, FLYW, RELY, EYE |
| Q4 2025 | 18 | $203.0M | CFLT, BY, DRVN, LZ, PLOW |
| Q3 2025 | 20 | $186.5M | BY, LZ, DRVN, PLOW, GIL |
| Q2 2025 | 18 | $220.3M | BY, DRVN, LZ, IAS, GIL |
| Q1 2025 | 16 | $204.4M | BY, GIL, PLOW, FROG, CWH |
| Q4 2024 | 16 | $250.5M | LZ, ENFN, IAS, BY, PLOW |
| Q3 2024 | 18 | $289.8M | SQSP, ENFN, BY, IAS, SGI |
| Q2 2024 | 21 | $325.9M | BY, ENFN, SQSP, GIL, LZ |
| Q1 2024 | 23 | $352.1M | BY, LZ, ENFN, SQSP, GIL |