Divisar Capital Management LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Divisar Capital Management LLC reported 26 stock positions worth $432.3 million. Its top holding was Adtran (ADTN) at 8.8% of the portfolio, followed by Lumentum (LITE, 8.5%) and Vimeo (VMEO, 8.3%). Compared with Q1 2025, it opened 1 new position, sold out of 4, added to 14 and reduced 10. The biggest buy was Onto Innovation (ONTO, shares +394%) and the biggest sale an exit from Faro Technologies (FARO).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0001645721
- Portfolio Value
- $432.3M (Q2 2025)
- SEC Filing
- 0001645721-25-000018 ↗ filed Aug 14, 2025
Holdings Value
Holdings 26 stocks · $432.3M
| ADTN Adtran Holdings Inc. | 8.78% | 4,229,362 | $37.9M | Add +23.4% |
| LITE Lumentum Holdings Inc. | 8.55% | 388,786 | $37.0M | Reduce -1.4% |
| VMEO Vimeo Inc. | 8.29% | 8,870,025 | $35.8M | Add +25.9% |
| KLIC Kulicke & Soffa Industries | 7.74% | 967,289 | $33.5M | Add +9.6% |
| UCTT Ultra Clean Holdings Inc. | 7.40% | 1,417,034 | $32.0M | Add +37.0% |
| PII Polaris Inc. | 5.56% | 591,105 | $24.0M | Add +23.2% |
| OEC Orion SA | 5.36% | 2,209,254 | $23.2M | Add +41.8% |
| CMRC Commerce.com Inc. filed as BIGCOMMERCE HLDGS INC | 5.27% | 4,560,325 | $22.8M | Add +71.9% |
| LASR Nlight Inc. | 5.11% | 1,123,576 | $22.1M | Reduce -25.3% |
| MCFT Mastercraft Boat Holdings Inc. | 5.07% | 1,178,640 | $21.9M | Add +0.3% |
| BC Brunswick Corp. | 4.88% | 381,758 | $21.1M | Add +10.4% |
| CALX Calix Inc. | 4.32% | 351,445 | $18.7M | Reduce -23.7% |
| PDFS PDF Solutions Inc. | 3.02% | 611,387 | $13.1M | Add +11.7% |
| ONTO Onto Innovation Inc. | 2.66% | 114,088 | $11.5M | Add +394.1% |
| OLO Olo Inc. Class A | 2.65% | 1,285,131 | $11.4M | Add +98.3% |
| ZUMZ Zumiez Inc. | 2.64% | 861,879 | $11.4M | Add +13.1% |
| RXO Rxo Inc. | 2.46% | 675,942 | $10.6M | Reduce -26.2% |
| ANF Abercrombie & Fitch Co. Class A | 2.29% | 119,352 | $9.9M | Add +9.5% |
| SFIX Stitch Fix Inc. Class A | 2.06% | 2,410,556 | $8.9M | Reduce -8.5% |
| COHU Cohu Inc. | 1.47% | 329,894 | $6.3M | Reduce -15.4% |
| MKSI MKS Inc. | 1.20% | 52,000 | $5.2M | New |
| BOX Box Inc. Class A | 1.04% | 131,743 | $4.5M | Reduce -23.3% |
| FN Fabrinet | 0.68% | 10,041 | $3.0M | Reduce -38.5% |
| CIVI Civitas Resources Inc. | 0.66% | 103,082 | $2.8M | No change |
| NVRI Enviri Corp. | 0.58% | 289,841 | $2.5M | Reduce -56.1% |
| SQNS Sequans Communications S A | 0.26% | 761,666 | $1.1M | Reduce -24.9% |
Portfolio Sells Q1 2025 → Q2 2025
| FARO Faro Technologies Inc. | Sold out | 0.00% | −6.68 |
| RXO Rxo Inc. | Reduce -26.2% | 2.46% | −2.09 |
| MKFG Markforged Holding Corp. | Sold out | 0.00% | −1.03 |
| NVRI Enviri Corp. | Reduce -56.1% | 0.58% | −0.56 |
| FNKO Funko Inc. Class A | Sold out | 0.00% | −0.46 |
| BOX Box Inc. Class A | Reduce -23.3% | 1.04% | −0.34 |
| SQNS Sequans Communications S A | Reduce -24.9% | 0.26% | −0.29 |
| TLYS Tilly's Inc. Class A SHRS | Sold out | 0.00% | −0.29 |
| SFIX Stitch Fix Inc. Class A | Reduce -8.5% | 2.06% | −0.16 |
| FN Fabrinet | Reduce -38.5% | 0.68% | −0.15 |
| COHU Cohu Inc. | Reduce -15.4% | 1.47% | −0.02 |
| CALX Calix Inc. | Reduce -23.7% | 4.32% | +0.08 |
| LASR Nlight Inc. | Reduce -25.3% | 5.11% | +2.08 |
| LITE Lumentum Holdings Inc. | Reduce -1.4% | 8.55% | +2.15 |
Portfolio Buys Q1 2025 → Q2 2025
| ONTO Onto Innovation Inc. | Add +394.1% | 2.66% | +1.94 |
| UCTT Ultra Clean Holdings Inc. | Add +37.0% | 7.40% | +1.64 |
| OLO Olo Inc. Class A | Add +98.3% | 2.65% | +1.63 |
| CMRC Commerce.com Inc. | Add +71.9% | 5.27% | +1.30 |
| MKSI MKS Inc. | New | 1.20% | +1.20 |
| ADTN Adtran Holdings Inc. | Add +23.4% | 8.78% | +1.00 |
| PII Polaris Inc. | Add +23.2% | 5.56% | +0.45 |
| PDFS PDF Solutions Inc. | Add +11.7% | 3.02% | +0.30 |
| KLIC Kulicke & Soffa Industries | Add +9.6% | 7.74% | +0.17 |
| ANF Abercrombie & Fitch Co. Class A | Add +9.5% | 2.29% | +0.12 |
| OEC Orion SA | Add +41.8% | 5.36% | +0.12 |
| BC Brunswick Corp. | Add +10.4% | 4.88% | +0.04 |
| MCFT Mastercraft Boat Holdings Inc. | Add +0.3% | 5.07% | −0.20 |
| ZUMZ Zumiez Inc. | Add +13.1% | 2.64% | −0.31 |
| VMEO Vimeo Inc. | Add +25.9% | 8.29% | −1.35 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 28 | $434.0M | ONTO, PII, MKSI, BC, KLIC |
| Q1 2026 | 26 | $392.4M | ONTO, UCTT, PII, BC, LITE |
| Q4 2025 | 26 | $355.9M | ONTO, LITE, ADTN, PII, UCTT |
| Q3 2025 | 25 | $367.6M | LITE, ADTN, UCTT, PII, KLIC |
| Q2 2025 | 26 | $432.3M | ADTN, LITE, VMEO, KLIC, UCTT |
| Q1 2025 | 29 | $384.5M | VMEO, ADTN, KLIC, FARO, LITE |
| Q4 2024 | 30 | $460.7M | ADTN, LITE, VMEO, UCTT, FARO |
| Q3 2024 | 31 | $542.1M | UCTT, LITE, VMEO, KLIC, ADTN |
| Q2 2024 | 34 | $527.8M | LITE, UCTT, KLIC, VMEO, ADTN |
| Q1 2024 | 34 | $520.5M | UCTT, LITE, KLIC, FARO, VMEO |