Pillsbury Lake Capital LLC

Registered adviser

CIK

2111915

Location

SAN FRANCISCO, CA

Portfolio Value

Small $367,593,189

Diversification

Diversified

Filing Date

Global Rank

#4,648 / 8,818 ▲ 1060

Top Industry

Education & Training Services 9.0%

3Y Alpha vs SPY

-26.6%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

3 quarters · since Dec 2025

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 328282

Roster of Oct 1, 2026

Regulatory AUM

$334,945,991

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

1 fund · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$47,776,782 gross assets

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$334,945,991	Pooled investment vehicles (100%)
Dec 2025 to Mar 2026	$406,883,340	Pooled investment vehicles (100%)
Jun 2025 to Sep 2025	$329,628,889	Pooled investment vehicles (100%)
Apr 2025	—	—

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 42.4%, 30.5 effective positions, active share 98.5% against the Russell 2000 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Turnover unknown

It needs four straight quarters of measured turnover

Horizon

Short horizon

Value-weighted holding period 2.2 quarters (under 4)

Closest benchmark: the Russell 2000 as of 2026-06-30, active share 98.5%; sector active share 43.5% against the combined 13F book's sector weights.

Over time 3 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 backtest

Portfolio Concentration

41 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

5.8%

−1.1 pts

Top 5

24.1%

−5.8 pts

Top 10

42.3%

−9.4 pts

HHI

327

Diversified−90

Portfolio Trend

3 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Consumer Cyclical	25.1%	$92,153,337	8
Industrials	20.8%	$76,470,365	8
Consumer Defensive	14.3%	$52,582,028	6
Technology	13.5%	$49,512,698	6
Healthcare	7.8%	$28,537,207	4
Energy	5.0%	$18,265,460	2
Real Estate	4.9%	$17,992,342	1
Unclassified	4.8%	$17,543,434	3
Communication Services	3.9%	$14,253,044	2
Financial Services	0.1%	$283,274	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

12 positions

Ticker	Company	Δ Shares	Shares	Value
GPGI	GPGI, Inc.	+572,277	681,032	$10,794,357
WLTH	Wealthfront Corp	+366,217	1,025,030	$9,163,768
LUXE	LuxExperience B.V.	+286,247	1,462,815	$10,868,715
HNI	Hni Corp	+191,607	412,808	$16,681,571
UTI	Universal Technical Institute Inc	+101,654	321,556	$13,752,950
KRUS	Kura Sushi USA, Inc.	+58,428	176,989	$10,187,486
—		+46,295	176,270	$8,792,347
CLH	Clean Harbors Inc	+26,687	49,604	$14,819,195
ETON	Eton Pharmaceuticals, Inc.	+22,203	387,157	$14,015,083
BGSI	Boyd Group Services Inc.	+12,672	110,928	$10,496,006
BBW	Build-A-Bear Workshop Inc	+9,123	339,225	$10,383,677
CVCO	Cavco Industries, Inc.	+2,998	18,772	$11,533,141
No positions match the current search.

Trimmed

Positions the filer reduced

11 positions

Ticker	Company	Δ Shares	Shares	Value
CRON	Cronos Group Inc.	−3,412,841	810,163	$2,252,253
BLZE	Backblaze, Inc.	−621,446	1,339,837	$21,249,814
SRTA	Strata Critical Medical, Inc.	−432,790	2,171,006	$11,441,201
FLYW	Flywire Corp	−297,670	473,706	$8,323,014
MAMA	Mama's Creations, Inc.	−258,478	90,110	$1,608,463
PDFS	Pdf Solutions Inc	−152,814	117,854	$8,342,884
COMP	Compass, Inc.	−143,096	1,459,233	$17,992,342
TPB	Turning Point Brands, Inc.	−44,204	125,854	$10,673,677
LINC	Lincoln Educational Services Corp	−24,381	356,187	$17,773,731
CROX	Crocs, Inc.	−4,266	75,562	$9,115,799
BV	BrightView Holdings, Inc.	−3,793	502,957	$7,126,900
No positions match the current search.

New Positions

Positions the filer opened this quarter

15 positions

Ticker	Company	Shares	Value
MSA	MSA Safety Inc	76,963	$13,436,200
SLB	Slb Limited	280,748	$13,051,974
MCFT	MasterCraft Boat Holdings, Inc.	499,107	$12,886,942
KNX	Knight-Swift Transportation Holdings Inc.	138,435	$10,779,933
CARG	CarGurus, Inc.	296,864	$10,120,093
LWAY	Lifeway Foods, Inc.	291,709	$8,704,596
AIQ	Global X Artificial Intelligence & Technology ETF	127,765	$8,382,661
CAAP	Corporacion America Airports S.A.	295,075	$7,429,988
RHLD	Resolute Holdings Management, Inc.	48,165	$6,961,287
SEI	Solaris Energy Infrastructure, Inc.	64,796	$5,213,486
MEC	Mayville Engineering Company, Inc.	136,746	$5,122,505
MGNI	Magnite, Inc.	217,753	$4,132,951
SHAZ	SharonAI Holdings Inc.	28,685	$2,428,472
MDXG	Mimedx Group, Inc.	215,239	$828,670
GLXY	Galaxy Digital Inc.	167,836	$283,274
No positions match the current search.

Sold Out

Positions the filer fully exited

8 positions

Ticker	Company	Shares	Value
LMRI	Lumexa Imaging Holdings, Inc.	814,869	$7,007,873
LMB	Limbach Holdings, Inc.	56,520	$4,411,386
CRTO	Criteo S.A.	213,261	$3,823,769
INVE	INVE Technologies, Inc.	491,657	$1,819,130
—		8,379	$1,523,553
NBIS	Nebius Group N.V.	9,947	$1,032,100
CBNA	Chain Bridge Bancorp Inc	26,860	$937,414
FLXS	Flexsteel Industries Inc	18,306	$822,671
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

41 tracked positions · $367,593,189 total · filing declares 44 positions · $366,318,316 · as of Jun 30, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
BLZE	Backblaze, Inc. Technology	Reduced	1,339,837	-621,446	$21,249,814	+214.0%	3	before history	5.78%
COMP	Compass, Inc. Real Estate	Reduced	1,459,233	-143,096	$17,992,342	+53.6%	3	before history	4.89%
LINC	Lincoln Educational Services Corp Consumer Defensive	Reduced	356,187	-24,381	$17,773,731	+14.8%	3	before history	4.84%
HNI	Hni Corp Consumer Cyclical	Added	412,808	+191,607	$16,681,571	+125.9%	3	before history	4.54%
CLH	Clean Harbors Inc Industrials	Added	49,604	+26,687	$14,819,195	+125.5%	3	before history	4.03%
ETON	Eton Pharmaceuticals, Inc. Healthcare	Added	387,157	+22,203	$14,015,083	+55.6%	2	$18.17	3.81%
UTI	Universal Technical Institute Inc Consumer Defensive	Added	321,556	+101,654	$13,752,950	+73.2%	2	$33.73	3.74%
MSA	MSA Safety Inc Industrials	NEW	76,963	NEW	$13,436,200	NEW	1	$167.49	3.66%
SLB	Slb Limited Energy	NEW	280,748	NEW	$13,051,974	NEW	1	$53.59	3.55%
MCFT	MasterCraft Boat Holdings, Inc. Consumer Cyclical	NEW	499,107	NEW	$12,886,942	NEW	1	$23.27	3.51%
CVCO	Cavco Industries, Inc. Consumer Cyclical	Added	18,772	+2,998	$11,533,141	+51.0%	3	before history	3.14%
SRTA	Strata Critical Medical, Inc. Healthcare	Reduced	2,171,006	-432,790	$11,441,201	+5.1%	3	before history	3.11%
LUXE	LuxExperience B.V. Consumer Cyclical	Added	1,462,815	+286,247	$10,868,715	+15.5%	3	before history	2.96%
GPGI	GPGI, Inc. Industrials	Added	681,032	+572,277	$10,794,357	+480.4%	3	before history	2.94%
KNX	Knight-Swift Transportation Holdings Inc. Industrials	NEW	138,435	NEW	$10,779,933	NEW	1	$69.30	2.93%
TPB	Turning Point Brands, Inc. PUT + SHARES Consumer Defensive	Reduced	126,169	-43,889	$10,700,392	−27.5%	3	before history	2.91%
BGSI	Boyd Group Services Inc. Consumer Cyclical	Added	110,928	+12,672	$10,496,006	−16.5%	3	before history	2.86%
BBW	Build-A-Bear Workshop Inc Consumer Cyclical	Added	339,225	+9,123	$10,383,677	−16.0%	3	before history	2.82%
KRUS	Kura Sushi USA, Inc. Consumer Cyclical	Added	176,989	+58,428	$10,187,486	+23.1%	3	before history	2.77%
CARG	CarGurus, Inc. Communication Services	NEW	296,864	NEW	$10,120,093	NEW	1	$32.41	2.75%
WLTH	Wealthfront Corp Technology	Added	1,025,030	+366,217	$9,163,768	+50.4%	2	$9.60	2.49%
CROX	Crocs, Inc. Consumer Cyclical	Reduced	75,562	-4,266	$9,115,799	+37.5%	2	$85.65	2.48%
		Added	176,270	+46,295	$8,792,347	+29.9%	2	$50.91	2.39%
LWAY	Lifeway Foods, Inc. Consumer Defensive	NEW	291,709	NEW	$8,704,596	NEW	1	$25.43	2.37%
AIQ	Global X Artificial Intelligence & Technology ETF PUT + SHARES	NEW	129,259	NEW	$8,480,682	NEW	1	$59.67	2.31%
PDFS	Pdf Solutions Inc Technology	Reduced	117,854	-152,814	$8,342,884	−5.8%	3	before history	2.27%
FLYW	Flywire Corp Technology	Reduced	473,706	-297,670	$8,323,014	−7.3%	2	$12.58	2.26%
CAAP	Corporacion America Airports S.A. Industrials	NEW	295,075	NEW	$7,429,988	NEW	1	$25.70	2.02%
BV	BrightView Holdings, Inc. Industrials	Reduced	502,957	-3,793	$7,126,900	+19.3%	3	before history	1.94%
RHLD	Resolute Holdings Management, Inc. Industrials	NEW	48,165	NEW	$6,961,287	NEW	1	$129.85	1.89%
SEI	Solaris Energy Infrastructure, Inc. Energy	NEW	64,796	NEW	$5,213,486	NEW	1	$71.46	1.42%
MEC	Mayville Engineering Company, Inc. Industrials	NEW	136,746	NEW	$5,122,505	NEW	1	$26.73	1.39%
MGNI	Magnite, Inc. Communication Services	NEW	217,753	NEW	$4,132,951	NEW	1	$14.33	1.12%
SHAZ	SharonAI Holdings Inc. Technology	NEW	28,685	NEW	$2,428,472	NEW	1	$56.43	0.66%
CRON	Cronos Group Inc. Healthcare	Reduced	810,163	-3,412,841	$2,252,253	−78.8%	3	before history	0.61%
MAMA	Mama's Creations, Inc. Consumer Defensive	Reduced	90,110	-258,478	$1,608,463	−69.9%	3	before history	0.44%
MDXG	Mimedx Group, Inc. Healthcare	NEW	215,239	NEW	$828,670	NEW	1	$3.65	0.23%
GLXY	Galaxy Digital Inc. Financial Services	NEW	167,836	NEW	$283,274	NEW	1	unpriced	0.08%
IWM	iShares Russell 2000 ETF PUT	Reduced	900	-402	$270,405	−16.3%	—	—	0.07%
WEST	Westrock Coffee Co PUT Consumer Defensive	NEW	5,166	NEW	$41,896	NEW	—	—	0.01%
TOYO	TOYO Co., Ltd PUT Technology	NEW	683	NEW	$4,746	NEW	—	—	0.00%

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.