Divisadero Street Capital Management, LP

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Divisadero Street Capital Management, LP reported 131 stock positions worth $1.5 billion. Its top holding was Sezzle (SEZL) at 10.9% of the portfolio, followed by Dave (DAVE, 9.6%) and Rush Street Interactive (RSI, 6.5%). Compared with Q1 2025, it opened 48 new positions, sold out of 7, added to 23 and reduced 24. The biggest buy was Remitly Global (RELY, shares +849%) and the biggest sale Genius Sports (GENI, shares −96%).

Most Recent 13F
Q2 2026
Location
MIAMI, FL
CIK
0001901865
Portfolio Value
$1.5B (Q2 2025)
SEC Filing
0000919574-25-004703 ↗ filed Aug 14, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $425.9M Q1 2024 Q2 2024: $611.9M Q2 2024 Q3 2024: $777.2M Q3 2024 Q4 2024: $799.9M Q4 2024 Q1 2025: $869.6M Q1 2025 Q2 2025: $1.5B $1.5B Q2 2025 Q3 2025: $2.2B Q3 2025 Q4 2025: $1.8B Q4 2025 Q1 2026: $2.1B Q1 2026 Q2 2026: $4.3B Q2 2026

Holdings 131 stocks · $1.5B
SEZL Sezzle Inc. 10.89% 907,488 $162.7M Reduce -30.6%
DAVE Dave Inc. 9.61% 534,590 $143.5M Reduce -46.3%
RSI Rush Street Interactive Inc. 6.51% 6,530,752 $97.3M Add +6.8%
RELY Remitly Global Inc. 6.41% 5,097,806 $95.7M Add +848.8%
TPB Turning Point Brands Inc. 4.79% 943,784 $71.5M Add +187.5%
CELH Celsius Holdings Inc. 4.65% 1,497,450 $69.5M Add +89.4%
CVNA Carvana Co. 4.36% 193,319 $65.1M Add +17.3%
FLYW Flywire Corp.-Voting 3.75% 4,784,654 $56.0M Add +178.0%
SIG Signet Jewelers Ltd. 3.37% 632,832 $50.3M New
SN Sharkninja Inc. 3.21% 484,408 $48.0M Add +203.5%
ANGO Angiodynamics Inc. 2.25% 3,395,430 $33.7M Add +253.7%
PRCH Porch Group Inc. 1.93% 2,443,612 $28.8M New
GRPN Groupon Inc. 1.82% 813,621 $27.2M Reduce -39.3%
HIMS Hims & Hers Health Inc. 1.55% 465,093 $23.2M Reduce -58.2%
PRTH Priority Technology Holdings 1.43% 2,746,835 $21.4M Reduce -41.6%
FOXF Fox Factory Holding Corp. 1.42% 818,357 $21.2M New
ARLO Arlo Technologies Inc. 1.31% 1,150,943 $19.5M Add +778.6%
BLND Blend Labs Inc. Class A 1.22% 5,505,522 $18.2M Reduce -12.3%
WLDN Willdan Group Inc. 1.17% 278,955 $17.4M Add +62.3%
SVV Savers Value Village Inc. 1.07% 1,572,345 $16.0M New
VITL Vital Farms Inc. 1.07% 413,627 $15.9M Reduce -65.1%
JILL J. Jill Inc. 1.01% 1,029,452 $15.1M Reduce -25.7%
CARG Cargurus Inc. 0.98% 436,183 $14.6M New
BBNX Beta Bionics Inc. 0.93% 948,965 $13.8M New
LOCO El Pollo Loco Holdings Inc. 0.91% 1,231,087 $13.6M Add +495.4%
CLS Celestica Inc. 0.86% 82,361 $12.9M Reduce -34.1%
EYE National Vision Holdings Inc. 0.85% 553,957 $12.7M Reduce -54.8%
AS Amer Sports Inc. 0.78% 300,000 $11.6M New
EVER Everquote Inc. Class A 0.73% 453,220 $11.0M Reduce -31.9%
FN Fabrinet 0.71% 35,788 $10.5M New
GKOS Glaukos Corp. 0.70% 101,791 $10.5M New
ZVIA Zevia PBC-A 0.70% 3,230,980 $10.4M New
ANF Abercrombie & Fitch Co. Class A 0.58% 104,322 $8.6M Add +223.3%
FIVN FIVE9 Inc. 0.56% 314,181 $8.3M Reduce -8.4%
MOD Modine Manufacturing Co. 0.52% 78,300 $7.7M Add +1.7%
CRMT America's Car-Mart Inc. 0.50% 134,471 $7.5M Add +126.8%
NUTX Nutex Health Inc. 0.50% 60,094 $7.5M New
EAT Brinker International Inc. 0.49% 40,811 $7.4M Reduce -86.6%
BVS Bioventus Inc. Class A 0.48% 1,080,633 $7.2M Reduce -36.1%
CZR Caesars Entertainment Inc. 0.48% 250,000 $7.1M New
ETON Eton Pharmaceuticals Inc. 0.47% 497,716 $7.1M New
WGS Genedx Holdings Corp. 0.45% 73,146 $6.8M No change
MMS Maximus Inc. 0.45% 95,000 $6.7M New
SIBN Si-Bone Inc. 0.43% 339,791 $6.4M Add +17.8%
ESTA Establishment Labs Holdings 0.42% 147,858 $6.3M Reduce -52.5%
WNS WNS Holdings Ltd. filed as WNS HLDGS LTD 0.42% 99,455 $6.3M New
BXC Bluelinx Holdings Inc. 0.41% 83,141 $6.2M No change
BYRN Byrna Technologies Inc. 0.36% 176,377 $5.4M No change
LTH Life Time Group Holdings Inc. 0.36% 177,417 $5.4M New
TMDX Transmedics Group Inc. 0.34% 38,390 $5.1M Reduce -66.3%
PM Philip Morris International 0.34% 28,244 $5.1M New
XPEL Xpel Inc. 0.34% 141,239 $5.1M New
PGY Pagaya Technologies Ltd. Class A 0.33% 231,919 $4.9M New
PTON Peloton Interactive Inc. Class A 0.32% 683,390 $4.7M No change
AFRM Affirm Holdings Inc. 0.30% 65,366 $4.5M New
ASO Academy Sports & Outdoors Inc. 0.30% 100,000 $4.5M No change
HROW Harrow Inc. 0.29% 140,570 $4.3M New
DKNG Draftkings Inc. Class A 0.28% 97,483 $4.2M No change
LITE Lumentum Holdings Inc. 0.27% 42,605 $4.1M New
GRSD Grandstand Ltd. filed as GAMBLING COM GROUP LIMITED 0.24% 305,694 $3.6M New
COIN Coinbase Global Inc. Class A 0.23% 10,000 $3.5M Reduce -81.0%
NSSC Napco Security Technologies 0.22% 111,566 $3.3M No change
TNDM Tandem Diabetes Care Inc. 0.22% 174,692 $3.3M No change
CIEN Ciena Corp. 0.22% 40,000 $3.3M New
BRBR Bellring Brands Inc. 0.22% 55,780 $3.2M No change
INGN Inogen Inc. 0.21% 455,389 $3.2M Add +192.3%
RXST Rxsight Inc. 0.19% 218,918 $2.8M Reduce -75.3%
CALX Calix Inc. 0.19% 53,022 $2.8M No change
CWAN Clearwater Analytics HDS-A 0.18% 125,000 $2.7M New
NPCE Neuropace Inc. 0.18% 242,120 $2.7M Add +529.2%
SGHC Super Group SGHC Ltd. 0.16% 213,933 $2.3M New
SRAD Sportradar Group AG-A 0.15% 82,279 $2.3M No change
UPWK Upwork Inc. 0.14% 158,125 $2.1M New
CLFD Clearfield Inc. 0.14% 48,280 $2.1M New
INDV Indivior Ltd. 0.13% 136,000 $2.0M New
REVG Rev Group Inc. 0.13% 40,000 $1.9M New
BBW Build-A-Bear Workshop Inc. 0.12% 34,502 $1.8M No change
CPRI Capri Holdings Ltd. 0.12% 100,000 $1.8M No change
GENI Genius Sports Ltd. 0.12% 166,985 $1.7M Reduce -96.1%
REAL The Realreal Inc. filed as THE REALREAL INC 0.11% 345,501 $1.7M No change
VSXY Victoria's Secret & Co. 0.11% 85,910 $1.6M No change
SHAK Shake Shack Inc. Class A 0.11% 11,223 $1.6M New
SRTS Sensus Healthcare Inc. 0.10% 324,673 $1.5M Add +459.4%
LFMD Lifemd Inc. 0.10% 109,034 $1.5M New
DNUT Krispy Kreme Inc. 0.10% 500,000 $1.5M New
PRCT Procept Biorobotics Corp. 0.10% 24,963 $1.4M No change
INMD Inmode Ltd. 0.09% 96,754 $1.4M New
EZPW Ezcorp Inc. Class A 0.09% 99,310 $1.4M Add +39.7%
RH RH 0.09% 7,220 $1.4M New
MDXG Mimedx Group Inc. 0.09% 223,220 $1.4M Add +362.9%
XPOF Xponential Fitness Inc. Class A 0.09% 181,858 $1.4M No change
RICK Rci Hospitality Holdings Inc. 0.09% 35,492 $1.4M Reduce -0.5%
ARHS Arhaus Inc. 0.09% 146,394 $1.3M Add +2.7%
ODP The Odp Corp. filed as THE ODP CORP 0.08% 68,328 $1.2M No change
MED Medifast Inc. 0.08% 79,839 $1.1M New
ATRC Atricure Inc. 0.07% 33,690 $1.1M No change
MAX Mediaalpha Inc. Class A 0.06% 86,907 $952K New
CRMD Cormedix Inc. 0.06% 71,000 $875K New
RKT Rocket Cos Inc. Class A 0.05% 56,978 $808K Reduce -96.1%
AIRS Airsculpt Technologies Inc. 0.05% 165,699 $800K Add +10.5%

Show all 131 holdings

Options reported separately and not counted above: RELY calls ($34.2M), RSI calls ($19.0M), EAT calls ($15.0M), BKSY calls ($5.1M), VITL calls ($578K).

Portfolio Sells Q1 2025 → Q2 2025
GENI Genius Sports Ltd. Reduce -96.1% 0.12% −4.83
EAT Brinker International Inc. Reduce -86.6% 0.49% −4.73
VITL Vital Farms Inc. Reduce -65.1% 1.07% −3.08
RXST Rxsight Inc. Reduce -75.3% 0.19% −2.38
PRTH Priority Technology Holdings Reduce -41.6% 1.43% −2.25
HIMS Hims & Hers Health Inc. Reduce -58.2% 1.55% −2.23
JILL J. Jill Inc. Reduce -25.7% 1.01% −2.10
RKT Rocket Cos Inc. Class A Reduce -96.1% 0.05% −1.96
HNST The Honest Co. Inc. Sold out 0.00% −1.53
BVS Bioventus Inc. Class A Reduce -36.1% 0.48% −1.30
EVER Everquote Inc. Class A Reduce -31.9% 0.73% −1.27
BLND Blend Labs Inc. Class A Reduce -12.3% 1.22% −1.20
ZETA Zeta Global Holdings Corp. Class A Reduce -95.0% 0.04% −1.14
GRPN Groupon Inc. Reduce -39.3% 1.82% −1.07
ESTA Establishment Labs Holdings Reduce -52.5% 0.42% −1.04
EOLS Evolus Inc. Sold out 0.00% −1.00
EYE National Vision Holdings Inc. Reduce -54.8% 0.85% −0.95
CDNA Caredx Inc. Reduce -97.3% 0.02% −0.94
COIN Coinbase Global Inc. Class A Reduce -81.0% 0.23% −0.81
TMDX Transmedics Group Inc. Reduce -66.3% 0.34% −0.54
FIVN FIVE9 Inc. Reduce -8.4% 0.56% −0.51
SG Sweetgreen Inc. Class A Sold out 0.00% −0.43
RVLV Revolve Group Inc. Class A Sold out 0.00% −0.40
CLS Celestica Inc. Reduce -34.1% 0.86% −0.27
MGPI MGP Ingredients Inc. Sold out 0.00% −0.22
KIDS Orthopediatrics Corp. Sold out 0.00% −0.19
BRC INC-A Reduce -79.2% 0.01% −0.12
RICK Rci Hospitality Holdings Inc. Reduce -0.5% 0.09% −0.09
HOG Harley-Davidson Inc. Sold out 0.00% −0.08
DAVE Dave Inc. Reduce -46.3% 9.61% +0.15
SEZL Sezzle Inc. Reduce -30.6% 10.89% +5.64

Portfolio Buys Q1 2025 → Q2 2025
RELY Remitly Global Inc. Add +848.8% 6.41% +5.12
SIG Signet Jewelers Ltd. New 3.37% +3.37
TPB Turning Point Brands Inc. Add +187.5% 4.79% +2.54
PRCH Porch Group Inc. New 1.93% +1.93
FLYW Flywire Corp.-Voting Add +178.0% 3.75% +1.87
SN Sharkninja Inc. Add +203.5% 3.21% +1.68
FOXF Fox Factory Holding Corp. New 1.42% +1.42
CELH Celsius Holdings Inc. Add +89.4% 4.65% +1.41
ANGO Angiodynamics Inc. Add +253.7% 2.25% +1.22
ARLO Arlo Technologies Inc. Add +778.6% 1.31% +1.16
SVV Savers Value Village Inc. New 1.07% +1.07
CARG Cargurus Inc. New 0.98% +0.98
BBNX Beta Bionics Inc. New 0.93% +0.93
AS Amer Sports Inc. New 0.78% +0.78
FN Fabrinet New 0.71% +0.71
GKOS Glaukos Corp. New 0.70% +0.70
ZVIA Zevia PBC-A New 0.70% +0.70
LOCO El Pollo Loco Holdings Inc. Add +495.4% 0.91% +0.66
NUTX Nutex Health Inc. New 0.50% +0.50
CZR Caesars Entertainment Inc. New 0.48% +0.48
ETON Eton Pharmaceuticals Inc. New 0.47% +0.47
MMS Maximus Inc. New 0.45% +0.45
WNS WNS Holdings Ltd. New 0.42% +0.42
CVNA Carvana Co. Add +17.3% 4.36% +0.40
WLDN Willdan Group Inc. Add +62.3% 1.17% +0.36
LTH Life Time Group Holdings Inc. New 0.36% +0.36
PM Philip Morris International New 0.34% +0.34
XPEL Xpel Inc. New 0.34% +0.34
PGY Pagaya Technologies Ltd. Class A New 0.33% +0.33
AFRM Affirm Holdings Inc. New 0.30% +0.30
ANF Abercrombie & Fitch Co. Class A Add +223.3% 0.58% +0.30
HROW Harrow Inc. New 0.29% +0.29
LITE Lumentum Holdings Inc. New 0.27% +0.27
GRSD Grandstand Ltd. New 0.24% +0.24
CIEN Ciena Corp. New 0.22% +0.22
CRMT America's Car-Mart Inc. Add +126.8% 0.50% +0.20
CWAN Clearwater Analytics HDS-A New 0.18% +0.18
SGHC Super Group SGHC Ltd. New 0.16% +0.16
UPWK Upwork Inc. New 0.14% +0.14
CLFD Clearfield Inc. New 0.14% +0.14
INDV Indivior Ltd. New 0.13% +0.13
REVG Rev Group Inc. New 0.13% +0.13
NPCE Neuropace Inc. Add +529.2% 0.18% +0.13
SHAK Shake Shack Inc. Class A New 0.11% +0.11
LFMD Lifemd Inc. New 0.10% +0.10
DNUT Krispy Kreme Inc. New 0.10% +0.10
INMD Inmode Ltd. New 0.09% +0.09
RH RH New 0.09% +0.09
INGN Inogen Inc. Add +192.3% 0.21% +0.09
MED Medifast Inc. New 0.08% +0.08

Options Activity Q1 2025 → Q2 2025
RELY Remitly Global Inc. call New 1,822,200 $34.2M
RSI Rush Street Interactive Inc. call Reduce -41.4% 1,275,000 $19.0M
EAT Brinker International Inc. call Reduce -86.2% 83,300 $15.0M
BKSY Blacksky Technology Inc. call New 250,000 $5.1M
DAVE Dave Inc. call Sold out 18,100 $1.5Mbefore exit
VITL Vital Farms Inc. call Reduce -95.0% 15,000 $578K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 140$4.3BSEZL, CVNA, SGHC, DAVE, HIMS
Q1 2026 115$2.1BSGHC, RSI, DAVE, CELH, CLS
Q4 2025 88$1.8BSGHC, INDV, AS, CVNA, SN
Q3 2025 165$2.2BDAVE, SGHC, SEZL, TPB, INDV
Q2 2025 131$1.5BSEZL, DAVE, RSI, RELY, TPB
Q1 2025 90$869.6MDAVE, RSI, SEZL, EAT, GENI
Q4 2024 81$799.9MSN, RSI, DAVE, EAT, JILL
Q3 2024 70$777.2MCVNA, ANF, RSI, VITL, SN
Q2 2024 59$611.9MANF, GRPN, HIMS, SN, RSI
Q1 2024 55$425.9MANF, SN, RSI, HIMS, UPWK