In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Greenhouse Funds LLLP reported 32 stock positions worth $1.6 billion . Its top holding was Cadre (CDRE) at 5.9% of the portfolio, followed by Chefs' Warehouse (CHEF, 5.9% ) and Fluor (FLR, 5.6% ). Compared with Q4 2023, it opened 6 new positions, sold out of 6, added to 17 and reduced 9. The biggest buy was a new position in Envestnet (ENV) and the biggest sale an exit from iShares Russell 2000 ETF (IWM).
Location BALTIMORE, MD
CIK 0001626220
Portfolio Value $1.6B (Q1 2024) Holdings 32 stocks · $1.6B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 CDRE Cadre Holdings Inc. 2,583,563 $93.5M Add +3.5% CHEF The Chefs' Warehouse Inc. 2,482,031 $93.5M Add +5.4% FLR Fluor Corp. 2,103,376 $88.9M Add +14.5% SRAD Sportradar Group AG-A 7,625,044 $88.8M Add +9.4% OLED Universal Display Corp. 416,716 $70.2M Add +16.5% NEO Neogenomics Inc. 4,396,354 $69.1M Add +1.5% ENV Envestnet Inc. 1,186,882 $68.7M New BLKB Blackbaud Inc. 916,375 $67.9M Reduce -26.3% MMSI Merit Medical Systems Inc. 860,858 $65.2M Add +18.9% MSGS Madison Square Garden Sports 346,823 $64.0M Add +2.7% AVDX Avidxchange Holdings Inc. 4,467,954 $58.8M Add +69.3% MCW Mister Car Wash Inc. 7,310,104 $56.7M Add +14.8% YOU Clear Secure Inc. Class A 2,503,547 $53.3M Reduce -2.9% INFN Infinera Corp. 8,805,168 $53.1M Reduce -5.6% HCP Hashicorp Inc. Class A 1,803,041 $48.6M New VMI Valmont Industries 208,442 $47.6M Add +46.3% BILL Bill Holdings Inc. 660,532 $45.4M New RNG Ringcentral Inc. Class A 1,286,600 $44.7M Reduce -10.9% OII Oceaneering Intl Inc. 1,909,220 $44.7M Add +12.0% HAYW Hayward Holdings Inc. 2,766,230 $42.4M Add +14.4% HQY Healthequity Inc. 506,465 $41.3M New PTEN Patterson-Uti Energy Inc. 3,260,784 $38.9M Reduce -15.2% EFX Equifax Inc. 139,906 $37.4M Reduce -41.8% TOST Toast Inc. Class A 1,415,906 $35.3M Add +12.3% CLAR Clarus Corp. 4,783,422 $32.3M Add +5.4% GSAT Globalstar Inc. 18,664,029 $27.4M Add +49.4% PHR Phreesia Inc. 1,027,437 $24.6M Add +117.2% VSTO Vista Outdoor Inc. 742,754 $24.3M Reduce -10.7% IP International Paper Co. 414,183 $16.2M New GNRC Generac Holdings Inc. 127,378 $16.1M New FVRR Fiverr International Ltd. 726,726 $15.3M Reduce -40.5% NVT Nvent Electric PLC 134,806 $10.2M Reduce -63.2%
Options reported separately and not counted above: VSTO calls ($32.8M), PAYX calls ($24.6M), ADT calls ($10.1M), INFN calls ($3.0M), SRAD calls ($1.2M).
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ IWM iShares Russell 2000 ETF Sold out 0.00% −5.70 GPN Global Payments Inc. Sold out 0.00% −5.03 BLKB Blackbaud Inc. Reduce -26.3% 4.29% −3.04 GTM Zoominfo Technologies Inc. Sold out 0.00% −2.01 EFX Equifax Inc. Reduce -41.8% 2.36% −1.68 FVRR Fiverr International Ltd. Reduce -40.5% 0.97% −1.29 NVT Nvent Electric PLC Reduce -63.2% 0.64% −0.83 IR Ingersoll-Rand Inc. Sold out 0.00% −0.56 RNG Ringcentral Inc. Class A Reduce -10.9% 2.82% −0.51 PTEN Patterson-Uti Energy Inc. Reduce -15.2% 2.46% −0.37 YOU Clear Secure Inc. Class A Reduce -2.9% 3.36% −0.26 ONTF ON24 Inc. Sold out 0.00% −0.21 ADT Adt Inc. Sold out 0.00% −0.15 VSTO Vista Outdoor Inc. Reduce -10.7% 1.54% −0.13 INFN Infinera Corp. Reduce -5.6% 3.35% +0.34
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ ENV Envestnet Inc. New 4.34% +4.34 HCP Hashicorp Inc. Class A New 3.07% +3.07 BILL Bill Holdings Inc. New 2.87% +2.87 HQY Healthequity Inc. New 2.61% +2.61 AVDX Avidxchange Holdings Inc. Add +69.3% 3.71% +1.48 CHEF The Chefs' Warehouse Inc. Add +5.4% 5.90% +1.19 IP International Paper Co. New 1.02% +1.02 GNRC Generac Holdings Inc. New 1.01% +1.01 PHR Phreesia Inc. Add +117.2% 1.55% +0.81 VMI Valmont Industries Add +46.3% 3.00% +0.74 FLR Fluor Corp. Add +14.5% 5.61% +0.72 TOST Toast Inc. Class A Add +12.3% 2.23% +0.66 HAYW Hayward Holdings Inc. Add +14.4% 2.67% +0.44 MMSI Merit Medical Systems Inc. Add +18.9% 4.12% +0.38 SRAD Sportradar Group AG-A Add +9.4% 5.60% +0.37 OII Oceaneering Intl Inc. Add +12.0% 2.82% +0.35 CDRE Cadre Holdings Inc. Add +3.5% 5.90% +0.32 GSAT Globalstar Inc. Add +49.4% 1.73% +0.08 CLAR Clarus Corp. Add +5.4% 2.04% −0.09 MSGS Madison Square Garden Sports Add +2.7% 4.04% −0.14 MCW Mister Car Wash Inc. Add +14.8% 3.58% −0.16 OLED Universal Display Corp. Add +16.5% 4.43% −0.22 NEO Neogenomics Inc. Add +1.5% 4.36% −0.40
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ VSTO Vista Outdoor Inc. call New 1,000,000 $32.8M PAYX Paychex Inc. call New 200,000 $24.6M AVTR Avantor Inc. call Sold out 750,200 $17.1Mbefore exit ADT Adt Inc. call Reduce -53.9% 1,500,000 $10.1M GSAT Globalstar Inc. call Sold out 4,000,000 $7.8Mbefore exit INFN Infinera Corp. call New 500,600 $3.0M SRAD Sportradar Group AG-A call New 100,000 $1.2M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 29 $1.9B VYX, RBC, NEO, SRAD, HQY Q1 2026 28 $2.1B SRAD, GSAT, RBC, VYX, BILL Q4 2025 33 $2.6B VYX, BILL, SRAD, GSAT, NCLH Q3 2025 32 $2.6B VYX, SRAD, BILL, NCLH, GTM Q2 2025 31 $2.4B SRAD, VYX, BILL, OLED, GTM Q1 2025 33 $2.1B SRAD, VYX, MCW, BILL, AVDX Q4 2024 32 $2.3B SRAD, CHEF, FLR, BILL, VYX Q3 2024 33 $2.0B FLR, SRAD, OLED, CDRE, VYX Q2 2024 35 $1.9B FLR, OLED, SRAD, CDRE, CHEF Q1 2024 32 $1.6B CDRE, CHEF, FLR, SRAD, OLED