Brightlight Capital Management LP

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Brightlight Capital Management LP reported 12 stock positions worth $176.9 million. Its top holding was Carvana (CVNA) at 20.6% of the portfolio, followed by JSC Kaspi.kz ADR (KSPI, 19.2%) and Melco Resorts & Entert-ADR (MLCO, 12.1%). Compared with Q4 2023, it opened 4 new positions, sold out of 2, added to 1 and reduced 4. The biggest buy was a new position in JSC Kaspi.kz ADR (KSPI) and the biggest sale an exit from Select Water Solutions (WTTR).

Most Recent 13F
Q1 2026
Location
WESTPORT, CT
CIK
0001802838
Portfolio Value
$176.9M (Q1 2024)
SEC Filing
0001725547-24-002158 ↗ filed May 15, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $176.9M $176.9M Q1 2024 Q2 2024: $187.0M Q2 2024 Q3 2024: $207.6M Q3 2024 Q4 2024: $136.8M Q4 2024 Q1 2025: $148.0M Q1 2025 Q2 2025: $181.2M Q2 2025 Q3 2025: $165.2M Q3 2025 Q4 2025: $140.7M Q4 2025 Q1 2026: $101.4M Q1 2026

Holdings 12 stocks · $176.9M
CVNA Carvana Co. 20.59% 414,500 $36.4M Reduce -4.6%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 19.17% 263,642 $33.9M New
MLCO Melco Resorts & Entert-ADR 12.12% 2,975,200 $21.5M No change
HGV Hilton Grand Vacations Inc. 10.21% 382,700 $18.1M New
VAL Valaris Ltd. 9.17% 215,500 $16.2M No change
PAAS Pan American Silver Corp. 8.59% 1,007,500 $15.2M Add +31.3%
FVRR Fiverr International Ltd. 5.50% 462,000 $9.7M Reduce -17.1%
GM General Motors Co. 4.84% 188,900 $8.6M Reduce -17.9%
CDLX Cardlytics Inc. 3.78% 461,500 $6.7M Reduce -39.4%
FBTC Fidelity Wise Origin Bitcoin 3.08% 87,800 $5.4M New
ASLE Aersale Corp. 2.67% 657,116 $4.7M No change
SNBRQ Sleep Number Corp. 0.28% 30,800 $494K New

Portfolio Sells Q4 2023 → Q1 2024
WTTR Select Water Solutions Inc. Sold out 0.00% −10.59
DCBO Docebo Inc. Sold out 0.00% −6.10
FVRR Fiverr International Ltd. Reduce -17.1% 5.50% −5.44
CDLX Cardlytics Inc. Reduce -39.4% 3.78% −1.28
GM General Motors Co. Reduce -17.9% 4.84% −1.12
CVNA Carvana Co. Reduce -4.6% 20.59% +4.00

Portfolio Buys Q4 2023 → Q1 2024
KSPI JSC Kaspi.kz ADR New 19.17% +19.17
HGV Hilton Grand Vacations Inc. New 10.21% +10.21
FBTC Fidelity Wise Origin Bitcoin New 3.08% +3.08
SNBRQ Sleep Number Corp. New 0.28% +0.28
PAAS Pan American Silver Corp. Add +31.3% 8.59% −0.45

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q1 2026 8$101.4MCVNA, ARCO, KSPI, HNI, AAMI
Q4 2025 9$140.7MCVNA, KSPI, ARCO, HGV, SFD
Q3 2025 10$165.2MCVNA, KSPI, HEPS, HGV, ARCO
Q2 2025 10$181.2MCVNA, KSPI, HEPS, HGV, ARCO
Q1 2025 9$148.0MCVNA, KSPI, HEPS, MLCO, HGV
Q4 2024 8$136.8MCVNA, KSPI, SNBRQ, HGV, HEPS
Q3 2024 13$207.6MCVNA, KSPI, MLCO, PAAS, SNBRQ
Q2 2024 12$187.0MCVNA, KSPI, MLCO, PAAS, VAL
Q1 2024 12$176.9MCVNA, KSPI, MLCO, HGV, VAL