Ararat Capital Management LP
Registered adviserRegulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
| Rosters | Regulatory AUM | Main clients |
|---|---|---|
| Nov 2026 | $422,993,202 | Pooled investment vehicles (100%) |
| Apr 2026 to Oct 2026 | $358,607,563 | Pooled investment vehicles (100%) |
| Apr 2025 to Mar 2026 | $482,614,794 | Pooled investment vehicles (88%) |
| Apr 2024 to Mar 2025 | $653,177,406 | Pooled investment vehicles (90%) |
| May 2023 to Mar 2024 | $599,255,481 | Pooled investment vehicles (89%) |
| Apr 2023 | $599,255,481 | Pooled investment vehicles (89%) |
In the firm's words
- Long/short hedge:
The Narrow River Funds employ a long/short equity investment strategy.
- Fundamental active:
The Master Fund’s portfolio is expected to include (i) long positions in securities of companies where the Firm believes it has identified a fundamental value driver for capital appreciation; and (ii) short positions in securities of companies where the Firm believes there are one or more fundamental drivers for business deterioration or performance below expectations.
- Value:
equity securities or other obligations and assets of undervalued, operationally challenged and/or financially troubled companies or institutions.
Schedule 13D/13G stakes
Stakes of 5% or more disclosed on Schedule 13D or 13G, each on the filer's latest filing for the security. These are event-dated stakes, not the quarter-end 13F portfolio below.
No stake currently held at or above 5%.
A 13D or 13G stays in force until its filer amends it and no amendment is due without a material change, so a stake with no filing in 24 months reads unconfirmed, never sold. An amendment reporting under 5% ends the filer's duty to amend, not necessarily the holding. Shares are restated onto today's split basis. Show 1 exited, below-5% or retired stake
Portfolio style
Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.
Closest benchmark: the S&P SmallCap 600 as of 2026-06-30, active share 98.8%; sector active share 27.8% against the combined 13F book's sector weights.
Over time 23 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
17 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026Portfolio Trend
Sector Breakdown
As of Jun 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Consumer Cyclical | 29.2% | $62,244,967 |
| Technology | 27.8% | $59,362,700 |
| Healthcare | 14.1% | $30,179,954 |
| Industrials | 9.0% | $19,298,421 |
| Financial Services | 8.7% | $18,476,334 |
| Communication Services | 6.2% | $13,338,837 |
| Consumer Defensive | 5.0% | $10,579,500 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| ITGR | Integer Holdings Corp | +117,571 | 179,039 | $16,731,194 | |
| GLBE | Global-E Online Ltd. | +99,206 | 519,947 | $18,057,759 | |
| GIL | Gildan Activewear Inc. | +69,996 | 316,073 | $16,309,366 | |
| CARG | CarGurus, Inc. | +7,430 | 391,283 | $13,338,837 | |
| USFD | US Foods Holding Corp. | +4,448 | 103,467 | $10,579,500 | |
| GDDY | GoDaddy Inc. | +98 | 39,236 | $3,330,351 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| LZ | Legalzoom.Com, Inc. | −625,216 | 1,569,055 | $9,618,307 | |
| EYE | National Vision Holdings, Inc. | −548,502 | 18,641 | $354,365 | |
| FNKO | Funko, Inc. | −397,749 | 2,116,954 | $12,447,689 | |
| FLYW | Flywire Corp | −299,881 | 1,144,903 | $20,115,945 | |
| RELY | Remitly Global, Inc. | −155,101 | 859,890 | $19,270,134 | |
| BY | Byline Bancorp, Inc. | −133,163 | 490,609 | $18,476,334 | |
| PLOW | Douglas Dynamics, Inc | −42,321 | 279,440 | $15,075,788 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarterSold Out
Positions the filer fully exited| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| — | 3,102,117 | $17,930,236 | ||
| DRVN | Driven Brands Holdings Inc. | 91,624 | $1,155,378 | |
| No positions match the current search. | ||||
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| FLYW |
Flywire Corp
Technology
|
Reduced | 1,144,903 | $20,115,945 | 9.42% | |
| RELY |
Remitly Global, Inc.
Technology
|
Reduced | 859,890 | $19,270,134 | 9.03% | |
| BY |
Byline Bancorp, Inc.
Financial Services
|
Reduced | 490,609 | $18,476,334 | 8.65% | |
| GLBE |
Global-E Online Ltd.
Consumer Cyclical
|
Added | 519,947 | $18,057,759 | 8.46% | |
| ITGR |
Integer Holdings Corp
Healthcare
|
Added | 179,039 | $16,731,194 | 7.84% | |
| RAL |
Ralliant Corp
Technology
|
NEW | 226,080 | $16,646,270 | 7.80% | |
| GIL |
Gildan Activewear Inc.
Consumer Cyclical
|
Added | 316,073 | $16,309,366 | 7.64% | |
| PLOW |
Douglas Dynamics, Inc
Consumer Cyclical
|
Reduced | 279,440 | $15,075,788 | 7.06% | |
| CARG |
CarGurus, Inc.
Communication Services
|
Added | 391,283 | $13,338,837 | 6.25% | |
| FNKO |
Funko, Inc.
Consumer Cyclical
|
Reduced | 2,116,954 | $12,447,689 | 5.83% | |
| USFD |
US Foods Holding Corp.
Consumer Defensive
|
Added | 103,467 | $10,579,500 | 4.96% | |
| SHC |
Sotera Health Co
Healthcare
|
NEW | 590,362 | $10,478,925 | 4.91% | |
| FELE |
Franklin Electric Co Inc
Industrials
|
NEW | 90,308 | $9,680,114 | 4.53% | |
| LZ |
Legalzoom.Com, Inc.
Industrials
|
Reduced | 1,569,055 | $9,618,307 | 4.51% | |
| GDDY |
GoDaddy Inc.
Technology
|
Added | 39,236 | $3,330,351 | 1.56% | |
| OMDA |
Omada Health, Inc.
Healthcare
|
NEW | 135,300 | $2,969,835 | 1.39% | |
| EYE |
National Vision Holdings, Inc.
Consumer Cyclical
|
Reduced | 18,641 | $354,365 | 0.17% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.