Ararat Capital Management LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Ararat Capital Management LP reported 15 stock positions worth $177.6 million. Its top holding was Byline Bancorp (BY) at 11.1% of the portfolio, followed by European Wax Center Class A (EWCZ, 10.1%) and Flywire Corp.-Voting (FLYW, 9.5%). Compared with Q4 2025, it opened 1 new position, sold out of 4, added to 10 and reduced 4. The biggest buy was European Wax Center Class A (EWCZ, shares +45%) and the biggest sale an exit from Confluent Class A (CFLT).
- Most Recent 13F
- Q2 2026
- Location
- WESTPORT, CT
- CIK
- 0001768757
- Portfolio Value
- $177.6M (Q1 2026)
- SEC Filing
- 0001768757-26-000003 ↗ filed May 15, 2026
Holdings Value
Holdings 15 stocks · $177.6M
| BY Byline Bancorp Inc. | 11.09% | 623,772 | $19.7M | Reduce -4.2% |
| EWCZ European Wax Center Inc. Class A | 10.10% | 3,102,117 | $17.9M | Add +44.9% |
| FLYW Flywire Corp.-Voting | 9.47% | 1,444,784 | $16.8M | Add +61.8% |
| RELY Remitly Global Inc. | 8.95% | 1,014,991 | $15.9M | Add +44.5% |
| EYE National Vision Holdings Inc. | 8.27% | 567,143 | $14.7M | Add +17.6% |
| GIL Gildan Activewear Inc. | 7.71% | 246,077 | $13.7M | Add +38.4% |
| PLOW Douglas Dynamics Inc. | 7.62% | 321,761 | $13.5M | Reduce -29.7% |
| CARG Cargurus Inc. | 7.36% | 383,853 | $13.1M | Add +16.0% |
| GLBE Global-E Online Ltd. | 7.31% | 420,741 | $13.0M | Add +32.0% |
| LZ Legalzoomcom Inc. | 7.00% | 2,194,271 | $12.4M | Add +17.0% |
| USFD US Foods Holding Corp. | 5.14% | 99,019 | $9.1M | Add +44.7% |
| FNKO Funko Inc. Class A | 4.46% | 2,514,703 | $7.9M | Add +196.2% |
| ITGR Integer Holdings Corp. | 3.05% | 61,468 | $5.4M | New |
| GDDY GoDaddy Inc. Class A | 1.82% | 39,138 | $3.2M | Reduce -4.7% |
| DRVN Driven Brands Holdings Inc. | 0.65% | 91,624 | $1.2M | Reduce -92.8% |
Portfolio Sells Q4 2025 → Q1 2026
| CFLT Confluent Inc. Class A | Sold out | 0.00% | −10.45 |
| DRVN Driven Brands Holdings Inc. | Reduce -92.8% | 0.65% | −8.62 |
| SGI Somnigroup International Inc. | Sold out | 0.00% | −4.66 |
| NCNO Ncino Inc. | Sold out | 0.00% | −3.14 |
| KLC Kindercare Learning Cos Inc. | Sold out | 0.00% | −1.28 |
| GDDY GoDaddy Inc. Class A | Reduce -4.7% | 1.82% | −0.69 |
| PLOW Douglas Dynamics Inc. | Reduce -29.7% | 7.62% | +0.26 |
| BY Byline Bancorp Inc. | Reduce -4.2% | 11.09% | +1.74 |
Portfolio Buys Q4 2025 → Q1 2026
| EWCZ European Wax Center Inc. Class A | Add +44.9% | 10.10% | +6.30 |
| RELY Remitly Global Inc. | Add +44.5% | 8.95% | +4.18 |
| FLYW Flywire Corp.-Voting | Add +61.8% | 9.47% | +3.24 |
| ITGR Integer Holdings Corp. | New | 3.05% | +3.05 |
| FNKO Funko Inc. Class A | Add +196.2% | 4.46% | +3.04 |
| USFD US Foods Holding Corp. | Add +44.7% | 5.14% | +2.60 |
| GIL Gildan Activewear Inc. | Add +38.4% | 7.71% | +2.24 |
| EYE National Vision Holdings Inc. | Add +17.6% | 8.27% | +2.14 |
| GLBE Global-E Online Ltd. | Add +32.0% | 7.31% | +1.14 |
| CARG Cargurus Inc. | Add +16.0% | 7.36% | +1.11 |
| LZ Legalzoomcom Inc. | Add +17.0% | 7.00% | −2.17 |
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 |