12 West Capital Management LP — 13F Holdings & Portfolio
CIK 1540531 · latest 13F-HR filed 2026-05-15
12 West Capital Management LP manages $592.4M in 13F-reported U.S. long-equity assets across 20 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are SHAK (18.57%), GDS (17.52%), TBBB (13.66%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 8 new positions, exited 6, added to 2, and trimmed 9.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$592.4M
Long-equity book
20
Distinct positions
2026-03-31
Filed 2026-05-15
+8 / −6 / ↑2 / ↓9
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- HAWAIIAN ELEC INDS INC MTN B$4.0M +17.4%
- KURA SUSHI USA INC$2.8M +10.0%
Top Trims
- SHAKE SHACK INC-$49.4M -31.0%
- GDS HLDGS LTD-$45.7M -30.6%
- TOAST INC-$32.5M -49.6%
- ROBLOX CORP-$31.3M -36.8%
- REPLIGEN CORP-$17.0M -43.0%
New Positions
- WARBY PARKER INC$27.5M
- HEARTFLOW INC$15.6M
- SHOPIFY INC$6.2M
- ONCE UPON A FARM PBC$6.0M
- E L F BEAUTY INC$4.2M
Exited Positions
- KLAVIYO INC$59.7M
- WINGSTOP INC$18.8M
- BETA BIONICS INC$17.5M
- FIRST WATCH RESTAURANT GROUP$16.1M
- COUPANG INC$5.9M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | SHAKE SHACK INC | SHAK | 819047101 | $110.0M | 18.57% | 1,243,595 | SH |
| 2 | GDS HLDGS LTD | GDS | 36165L108 | $103.8M | 17.52% | 2,576,576 | SH |
| 3 | BBB FOODS INC | TBBB | G0896C103 | $80.9M | 13.66% | 2,287,770 | SH |
| 4 | ROBLOX CORP | RBLX | 771049103 | $53.7M | 9.07% | 950,000 | SH |
| 5 | TOAST INC | TOST | 888787108 | $33.1M | 5.58% | 1,247,840 | SH |
| 6 | KURA SUSHI USA INC | KRUS | 501270102 | $31.2M | 5.26% | 446,415 | SH |
| 7 | WARBY PARKER INC | WRBY | 93403J106 | $27.5M | 4.64% | 1,304,727 | SH |
| 8 | HAWAIIAN ELEC INDS INC MTN B | HE | 419870100 | $26.7M | 4.51% | 1,800,000 | SH |
| 9 | AFFIRM HLDGS INC | AFRM | 00827B106 | $24.5M | 4.14% | 535,000 | SH |
| 10 | REPLIGEN CORP | RGEN | 759916109 | $22.5M | 3.80% | 191,233 | SH |
| 11 | CLOUDFLARE INC | NET | 18915M107 | $21.7M | 3.66% | 105,000 | SH |
| 12 | MARAVAI LIFESCIENCES HLDGS I | MRVI | 56600D107 | $20.5M | 3.47% | 7,260,195 | SH |
| 13 | HEARTFLOW INC | HTFL | 42238D107 | $15.6M | 2.63% | 640,000 | SH |
| 14 | SHOPIFY INC | SHOP | 82509L107 | $6.2M | 1.04% | 52,000 | SH |
| 15 | ONCE UPON A FARM PBC | OFRM | 68237F108 | $6.0M | 1.01% | 365,000 | SH |
| 16 | E L F BEAUTY INC | ELF | 26856L103 | $4.2M | 0.72% | 70,000 | SH |
| 17 | NU HLDGS LTD | NU | G6683N103 | $2.7M | 0.45% | 185,000 | SH |
| 18 | AEHR TEST SYS | AEHR | 00760J108 | $815.8K | 0.14% | 22,000 | SH |
| 19 | COREWEAVE INC | CRWV | 21873S108 | $542.3K | 0.09% | 7,000 | SH |
| 20 | ACM RESH INC | ACMR | 00108J109 | $240.0K | 0.04% | 6,100 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-15 | $592.4M | 20 | 0001540531-26-000003 |
| 2025-12-31 | 2026-02-17 | $839.7M | 18 | 0001540531-26-000002 |
| 2025-09-30 | 2025-11-14 | $964.1M | 17 | 0001540531-25-000009 |