Brightlight Capital Management LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Brightlight Capital Management LP reported 8 stock positions worth $101.4 million. Its top holding was Carvana (CVNA) at 27.7% of the portfolio, followed by Arcos Dorados Class A (ARCO, 27.1%) and JSC Kaspi.kz ADR (KSPI, 27.1%). Compared with Q4 2025, it opened 1 new position, sold out of 2 and reduced 7. The biggest buy was a new position in Hni (HNI) and the biggest sale Hilton Grand Vacations (HGV, shares −85%).
- Most Recent 13F
- Q1 2026
- Location
- WESTPORT, CT
- CIK
- 0001802838
- Portfolio Value
- $101.4M (Q1 2026)
- SEC Filing
- 0001802838-26-000004 ↗ filed May 15, 2026
Holdings Value
Holdings 8 stocks · $101.4M
| CVNA Carvana Co. | 27.68% | 89,263 | $28.1M | Reduce -3.8% |
| ARCO Arcos Dorados Holdings Inc. Class A | 27.14% | 3,334,760 | $27.5M | Reduce -3.8% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 27.12% | 371,235 | $27.5M | Reduce -14.1% |
| HNI Hni Corp. | 8.66% | 262,900 | $8.8M | New |
| AAMI Acadian Asset Management Inc. | 5.38% | 100,200 | $5.5M | Reduce -7.1% |
| PAL Proficient Auto Logistics Inc. | 1.93% | 288,700 | $2.0M | Reduce -19.5% |
| HGV Hilton Grand Vacations Inc. | 1.77% | 45,780 | $1.8M | Reduce -84.9% |
| SNBRQ Sleep Number Corp. | 0.32% | 179,400 | $322K | Reduce -25.1% |
Portfolio Sells Q4 2025 → Q1 2026
| HGV Hilton Grand Vacations Inc. | Reduce -84.9% | 1.77% | −7.88 |
| SFD Smithfield Foods Inc. | Sold out | 0.00% | −7.16 |
| MLCO Melco Resorts & Entert-ADR | Sold out | 0.00% | −5.76 |
| SNBRQ Sleep Number Corp. | Reduce -25.1% | 0.32% | −1.12 |
| PAL Proficient Auto Logistics Inc. | Reduce -19.5% | 1.93% | −0.53 |
| CVNA Carvana Co. | Reduce -3.8% | 27.68% | −0.16 |
| AAMI Acadian Asset Management Inc. | Reduce -7.1% | 5.38% | +1.77 |
| KSPI JSC Kaspi.kz ADR | Reduce -14.1% | 27.12% | +3.13 |
| ARCO Arcos Dorados Holdings Inc. Class A | Reduce -3.8% | 27.14% | +9.05 |
Portfolio Buys Q4 2025 → Q1 2026
| HNI Hni Corp. | New | 8.66% | +8.66 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q1 2026 | 8 | $101.4M | CVNA, ARCO, KSPI, HNI, AAMI |
| Q4 2025 | 9 | $140.7M | CVNA, KSPI, ARCO, HGV, SFD |
| Q3 2025 | 10 | $165.2M | CVNA, KSPI, HEPS, HGV, ARCO |
| Q2 2025 | 10 | $181.2M | CVNA, KSPI, HEPS, HGV, ARCO |
| Q1 2025 | 9 | $148.0M | CVNA, KSPI, HEPS, MLCO, HGV |
| Q4 2024 | 8 | $136.8M | CVNA, KSPI, SNBRQ, HGV, HEPS |
| Q3 2024 | 13 | $207.6M | CVNA, KSPI, MLCO, PAAS, SNBRQ |
| Q2 2024 | 12 | $187.0M | CVNA, KSPI, MLCO, PAAS, VAL |
| Q1 2024 | 12 | $176.9M | CVNA, KSPI, MLCO, HGV, VAL |