In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Greenhouse Funds LLLP reported 28 stock positions worth $2.1 billion . Its top holding was Sportradar Group AG-A (SRAD) at 7.4% of the portfolio, followed by Globalstar (GSAT, 6.9% ) and RBC Bearings (RBC, 6.0% ). Compared with Q4 2025, it opened 2 new positions, sold out of 7, added to 16 and reduced 9. The biggest buy was a new position in Costar (CSGP) and the biggest sale an exit from Confluent Class A (CFLT).
Location BALTIMORE, MD
CIK 0001626220
Portfolio Value $2.1B (Q1 2026) Holdings 28 stocks · $2.1B 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 2025 SRAD Sportradar Group AG-A 9,363,864 $156.8M Add +41.4% GSAT Globalstar Inc. 2,200,968 $146.2M Reduce -1.1% RBC RBC Bearings Inc. 234,107 $127.1M Reduce -0.5% VYX NCR Voyix Corp. 19,712,414 $124.8M Add +7.4% BILL Bill Holdings Inc. 3,190,605 $122.2M Add +8.8% HQY Healthequity Inc. 1,257,854 $105.1M Add +16.5% NCLH Norwegian Cruise Line Holdin 5,113,980 $95.6M Reduce -3.5% MCW Mister Car Wash Inc. 13,342,649 $93.0M Reduce -19.4% CDRE Cadre Holdings Inc. 2,868,378 $88.0M Add +2.7% HAYW Hayward Holdings Inc. 6,418,964 $85.9M Add +7.8% VMI Valmont Industries 213,048 $85.1M Add +4.4% XBI SS SPDR S&P Biotech ETF 650,949 $83.1M Reduce -5.3% MMSI Merit Medical Systems Inc. 1,122,447 $77.4M Add +29.4% OII Oceaneering Intl Inc. 2,032,489 $72.1M Reduce -17.6% TDY Teledyne Technologies Inc. 117,783 $71.3M Reduce -21.2% GTM Zoominfo Technologies Inc. 11,463,138 $68.5M Add +7.8% NEO Neogenomics Inc. 9,100,103 $67.5M Add +5.3% CHYM Chime Financial Inc. Class A 3,421,755 $64.1M Add +3.9% CSGP Costar Group Inc. 1,377,305 $55.6M New TOST Toast Inc. Class A 1,972,912 $52.3M Add +6.1% MSGS Madison Square Garden Sports 154,151 $49.5M Reduce -63.5% LIVN Livanova PLC 768,295 $48.8M Add +538.4% FLS Flowserve Corp. 658,469 $48.4M Add +19.1% ALAB Astera Labs Inc. 355,272 $38.9M Add +13.0% SG Sweetgreen Inc. Class A 5,049,235 $26.2M Add +42.2% NOVT Novanta Inc. 196,628 $23.2M Reduce -13.0% PZZA Papa John's Intl Inc. 546,016 $17.7M New CLAR Clarus Corp. 5,448,431 $14.8M No change
Options reported separately and not counted above: NCLH calls ($46.8M), GPN calls ($45.4M), VYX calls ($17.2M), ADT calls ($14.5M), NEO calls ($859K).
Portfolio Sells Q4 2025 → Q1 2026 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 2025 % Of Portfolio Change To Portfolio ▲ CFLT Confluent Inc. Class A Sold out 0.00% −3.93 OLED Universal Display Corp. Sold out 0.00% −3.49 MSGS Madison Square Garden Sports Reduce -63.5% 2.35% −1.87 ADT Adt Inc. Sold out 0.00% −1.77 PHR Phreesia Inc. Sold out 0.00% −1.62 CHEF The Chefs' Warehouse Inc. Sold out 0.00% −0.57 UNF Unifirst Corp. Sold out 0.00% −0.48 GTLB Gitlab Inc. Class A Sold out 0.00% −0.31 NCLH Norwegian Cruise Line Holdin Reduce -3.5% 4.53% −0.03 NOVT Novanta Inc. Reduce -13.0% 1.10% +0.06 TDY Teledyne Technologies Inc. Reduce -21.2% 3.38% +0.43 XBI SS SPDR S&P Biotech ETF Reduce -5.3% 3.94% +0.70 MCW Mister Car Wash Inc. Reduce -19.4% 4.41% +0.85 OII Oceaneering Intl Inc. Reduce -17.6% 3.42% +1.13 GSAT Globalstar Inc. Reduce -1.1% 6.93% +1.69 RBC RBC Bearings Inc. Reduce -0.5% 6.03% +1.95
Portfolio Buys Q4 2025 → Q1 2026 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 2025 % Of Portfolio Change To Portfolio ▼ CSGP Costar Group Inc. New 2.63% +2.63 LIVN Livanova PLC Add +538.4% 2.31% +2.03 SRAD Sportradar Group AG-A Add +41.4% 7.43% +1.35 HQY Healthequity Inc. Add +16.5% 4.98% +1.16 VMI Valmont Industries Add +4.4% 4.04% +0.86 PZZA Papa John's Intl Inc. New 0.84% +0.84 FLS Flowserve Corp. Add +19.1% 2.29% +0.81 MMSI Merit Medical Systems Inc. Add +29.4% 3.67% +0.72 HAYW Hayward Holdings Inc. Add +7.8% 4.07% +0.52 SG Sweetgreen Inc. Class A Add +42.2% 1.24% +0.32 TOST Toast Inc. Class A Add +6.1% 2.48% −0.07 CHYM Chime Financial Inc. Class A Add +3.9% 3.04% −0.16 ALAB Astera Labs Inc. Add +13.0% 1.85% −0.17 CDRE Cadre Holdings Inc. Add +2.7% 4.17% −0.23 BILL Bill Holdings Inc. Add +8.8% 5.79% −0.39 NEO Neogenomics Inc. Add +5.3% 3.20% −0.72 GTM Zoominfo Technologies Inc. Add +7.8% 3.25% −0.93 VYX NCR Voyix Corp. Add +7.4% 5.92% −1.31
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ NCLH Norwegian Cruise Line Holdin call New 2,500,000 $46.8M GPN Global Payments Inc. call Add +3.9% 675,000 $45.4M CFLT Confluent Inc. Class A call Sold out 1,000,000 $30.2Mbefore exit FLR Fluor Corp. call Sold out 750,000 $29.7Mbefore exit BILL Bill Holdings Inc. call Sold out 500,000 $27.3Mbefore exit SRAD Sportradar Group AG-A call Sold out 750,000 $17.8Mbefore exit VYX NCR Voyix Corp. call New 2,719,300 $17.2M ADT Adt Inc. call Add +51.6% 2,203,300 $14.5M GSAT Globalstar Inc. put Sold out 200,000 $12.2Mbefore exit NEO Neogenomics Inc. call New 115,800 $859K
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