Divisadero Street Capital Management, LP

Hedge Fund • Long/Short

Divisadero Street Capital Management, LP is a Long/Short Hedge Fund based in Miami, FL led by William Zolezzi, managing $2.1B across 163 long positions as of Q3 2025 with 33% Consumer Cyclical concentration.

Managing PartnerWilliam Zolezzi

Portfolio Value: $2.1B
Positions: 163
Top Holding: DAVE at 8.63%
Last Reported: Q3 2025

Address3480 Main Highway, Suite 204, Miami, FL, 33133, United States

Top Holdings

Largest long holdings in Divisadero Street Capital Management, LP's portfolio (43.9% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Dave, Inc. DAVE	Software - Application Technology	$184.5M	8.63%	+$77.9M Bought	6.85% 925.3K shares	Q2 2024 Held for 1y 5m
2 Super Group Limited SGHC	Gambling, Resorts & Casinos Consumer Cyclical	$129.8M	6.07%	+$127.0M Bought	1.94% 9.8M shares	Q2 2025 Held for 5 months
3 Sezzle SEZL	Financial - Credit Services Financial Services	$118.9M	5.56%	+$46.7M Bought	4.39% 1.5M shares	Q1 2025 Held for 8 months
4 Turning Point Brands TPB	Tobacco Consumer Defensive	$96.3M	4.50%	+$3.0M Bought	5.40% 974.1K shares	Q1 2025 Held for 8 months
5 Indivior INDV	Drug Manufacturers - Specialty & Generic Healthcare	$81.1M	3.79%	+$77.8M Bought	2.70% 3.4M shares	Q2 2025 Held for 5 months
6 SharkNinja SN	Furnishings, Fixtures & Appliances Consumer Cyclical	$79.9M	3.74%	+$29.9M Bought	0.55% 774.4K shares	Q3 2023 Held for 2y 2m
7 Carvana CVNA	Specialty Retail Consumer Cyclical	$78.6M	3.68%	+$5.7M Bought	0.15% 208.3K shares	Q2 2023 Held for 2y 5m
8 Rush Street Interactive RSI	Gambling, Resorts & Casinos Consumer Cyclical	$57.1M	2.67%	-$76.6M Sold	2.93% 2.8M shares	Q3 2023 Held for 2y 2m
9 Flywire Corporation FLYW	Information Technology Services Technology	$56.2M	2.63%	-$8.6M Sold	3.39% 4.2M shares	Q1 2025 Held for 8 months
10 Stride LRN	Education & Training Services Consumer Defensive	$55.9M	2.61%	+$55.9M New	0.86% 375.0K shares	Q3 2025 Held for 2 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Divisadero Street Capital Management, LP's latest filing

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Market Value

$2.1B

Prior: $1.5B

Q/Q Change

+44.3%

+$656.3M

Net Flows % of MV

+24.16%

Turnover Ratio

31.21%

New Purchases

30 stocks

$288.9M

Added To

38 stocks

+$620.8M

Sold Out Of

11 stocks

$50.8M

Reduced Holdings

25 stocks

-$342.5M

Increased Positions

Position	Shares Δ	Change
1 Stride LRN	New	0 → 375.0K +$55.9M
2 Argan AGX	New	0 → 125.5K +$33.9M
3 Omada Health, Inc. Common Stock OMDA	New	0 → 1.4M +$30.5M
4 Five Below FIVE	New	0 → 155.0K +$24.0M
5 ANI Pharmaceuticals ANIP	New	0 → 234.2K +$21.5M

Decreased Positions

Position	Shares Δ	Change
1 Beta Bionics, Inc. Common Stock BBNX	Sold	949.0K → 0 −$13.8M
2 Glaukos GKOS	Sold	101.8K → 0 −$10.5M
3 Nutex Health Inc. NUTX	Sold	60.1K → 0 −$7.5M
4 WNS Holdings Limited WNS	Sold	99.5K → 0 −$6.3M
5 Life Time Group Holdings LTH	Sold	177.4K → 0 −$5.4M