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Greenhouse Funds LLLP

Q4 2025 · Filed 2026-02-17
Market Value
$2.6B
+0.6%
Holdings
37
+4
New Purchases
5
Added To
16
Closed
4
Reduced
11
Top 10 Concentration
50.1%
Turnover
24.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TOST 2.55% 0.00% +2.55% $66M
GSAT 5.24% 3.04% +2.21% $136M
FLS 1.48% 0.00% +1.48% $38M
NEO 3.93% 2.47% +1.46% $102M
CHYM 3.20% 1.84% +1.36% $83M
CFLT 3.93% 2.75% +1.18% $102M
NOVT 1.04% 0.00% +1.04% $27M
XBI 3.24% 2.63% +0.61% $84M
RBC 4.07% 3.54% +0.53% $105M
MSGS 4.22% 3.74% +0.48% $109M
UNF 0.48% 0.00% +0.48% $12M
CDRE 4.40% 3.96% +0.45% $114M
LIVN 0.29% 0.00% +0.29% $7M
VMI 3.17% 3.00% +0.17% $82M
MMSI 2.95% 2.82% +0.13% $76M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
EFX 0.00% 3.03% -3.03% $0
BLKB 0.00% 2.01% -2.01% $0
PHR 1.62% 3.55% -1.93% $42M
GTLB 0.31% 1.89% -1.58% $8M
NCR 7.23% 8.54% -1.31% $187M
SAIA 0.00% 1.21% -1.21% $0
GPN 0.00% 0.82% -0.82% $0
OLED 3.49% 4.05% -0.55% $90M
SRAD 6.08% 6.60% -0.52% $157M
ALAB 2.02% 2.45% -0.43% $52M
SG 0.93% 1.22% -0.30% $24M
NCLH 4.57% 4.86% -0.29% $118M
ZI 4.18% 4.46% -0.28% $108M
HQY 3.82% 3.94% -0.12% $99M
OII 2.29% 2.40% -0.11% $59M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 9 $538M 20.8%
Mid Cap 22 $1.8B 67.7%
Small Cap 4 $180M 6.9%
Micro Cap 2 $120M 4.6%

Portfolio Analytics

Avg Market Cap
$8.2B
Median Market Cap
$4.9B
Avg P/E
46.4
Median P/E
31.1
Avg Dividend Yield
0.00%
Avg Beta
1.29
# Stocks
36
# ETFs / Funds
1

Top Holdings (37 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NCR 7.23% 18,350,987 $187M $10.20 -$33M +840,471 +4.8%
2 BILL 6.18% 2,933,926 $160M $54.54 -$261K -91,885 -3.0%
3 SRAD 6.08% 6,621,554 $157M $23.77 -$12M +307,548 +4.9%
4 GSAT 5.24% 2,224,845 $136M $61.04 $58M +75,653 +3.5%
5 NCLH 4.57% 5,298,649 $118M $22.32 -$7M +223,379 +4.4%
6 CDRE 4.40% 2,792,035 $114M $40.84 $12M +2,625 +0.1%
7 MSGS 4.22% 422,091 $109M $258.65 $13M -1,979 -0.5%
8 ZI 4.18% 10,632,097 $108M $10.17 -$7M +107,299 +1.0%
9 RBC 4.07% 235,187 $105M $448.43 $14M +1,609 +0.7%
10 CFLT 3.93% 3,366,843 $102M $30.24 $31M -205,582 -5.8%
11 NEO 3.93% 8,643,846 $102M $11.76 $38M +423,189 +5.2%
12 HQY 3.82% 1,079,704 $99M $91.61 -$2M +10,783 +1.0%
13 MCW 3.55% 16,549,713 $92M $5.56 $2M -313,849 -1.9%
14 HAYW 3.55% 5,952,001 $92M $15.45 $4M +103,620 +1.8%
15 OLED 3.49% 774,330 $90M $116.78 -$14M +49,052 +6.8%
16 XBI 3.24% 687,524 $84M $121.93 $16M +11,549 +1.7%
17 CHYM 3.20% 3,291,951 $83M $25.17 $35M +939,040 +39.9%
18 VMI 3.17% 204,124 $82M $402.32 $5M +4,678 +2.4%
19 MMSI 2.95% 867,227 $76M $88.14 $4M -4,700 -0.5%
20 TDY 2.95% 149,466 $76M $510.73 -$1M +16,952 +12.8%
21 TOST 2.55% 1,860,143 $66M $35.51 +1,860,143 NEW
22 OII 2.29% 2,468,260 $59M $24.03 -$2M -23,543 -0.9%
23 ALAB 2.02% 314,417 $52M $166.36 -$11M -7,058 -2.2%
24 ADT 1.77% 5,687,898 $46M $8.07 $1M +559,087 +10.9%
25 PHR 1.62% 2,471,960 $42M $16.92 -$49M -1,410,567 -36.3%
26 FLS 1.48% 552,830 $38M $69.38 +552,830 NEW
27 NOVT 1.04% 226,071 $27M $118.99 +226,071 NEW
28 SG 0.93% 3,550,564 $24M $6.76 -$7M -396,320 -10.0%
29 CLAR 0.70% 5,448,431 $18M $3.35 -$817K
30 CHEF 0.57% 236,270 $15M $62.33 $403K -9,298 -3.8%
31 UNF 0.48% 63,894 $12M $192.90 +63,894 NEW
32 GTLB 0.31% 214,529 $8M $37.53 -$41M -866,034 -80.2%
33 LIVN 0.29% 120,341 $7M $61.53 +120,341 NEW
34 SAIA —% -$31M -104,375 -100.0% SOLD
35 GPN —% -$21M -253,385 -100.0% SOLD
36 BLKB —% -$52M -802,904 -100.0% SOLD
37 EFX —% -$78M -303,587 -100.0% SOLD

Options Breakdown

9 Calls $167M Call Value 1 Puts $12M Put Value 0.07 P/C Ratio

Top Calls

SymbolSharesValueStatus
GPN 650,000 $50M
CFLT 1,000,000 $30M
FLR 750,000 $30M NEW
BILL 500,000 $27M
SRAD 750,000 $18M NEW
ADT 1,453,300 $12M
NCLH $0 SOLD
ZI $0 SOLD
NCR $0 SOLD

Top Puts

SymbolSharesValueStatus
GSAT 200,000 $12M NEW

New Positions

SymbolValue% Port
TOST $66M 2.55%
FLS $38M 1.48%
NOVT $27M 1.04%
UNF $12M 0.48%
LIVN $7M 0.29%

Sold Out Positions

SymbolValue% Port
EFX —%
GPN —%
BLKB —%
SAIA —%
View SEC EDGAR Filings for Greenhouse Funds LLLP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms