# Pillsbury Lake Capital LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2111915. Source: https://holderbook.com/funds/2111915-pillsbury-lake-capital-llc/

- Reported value: $366.3M
- Positions: 41
- Weight of the ten largest: 42.5%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| BACKBLAZE INC | [BLZE](https://holderbook.com/stocks/BLZE/) | $21.2M | 1,339,837 | 5.8% | 3 |
| COMPASS INC | [COMP](https://holderbook.com/stocks/COMP/) | $18.0M | 1,459,233 | 4.9% | 3 |
| LINCOLN EDL SVCS CORP | [LINC](https://holderbook.com/stocks/LINC/) | $17.8M | 356,187 | 4.9% | 3 |
| HNI CORP | [HNI](https://holderbook.com/stocks/HNI/) | $16.7M | 412,808 | 4.6% | 3 |
| CLEAN HARBORS INC | [CLH](https://holderbook.com/stocks/CLH/) | $14.8M | 49,604 | 4.0% | 3 |
| ETON PHARMACEUTICALS INC | [ETON](https://holderbook.com/stocks/ETON/) | $14.0M | 387,157 | 3.8% | 2 |
| UNIVERSAL TECHNICAL INST INC | [UTI](https://holderbook.com/stocks/UTI/) | $13.8M | 321,556 | 3.8% | 2 |
| MSA SAFETY INC | [MSA](https://holderbook.com/stocks/MSA/) | $13.4M | 76,963 | 3.7% | 1 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $13.1M | 280,748 | 3.6% | 1 |
| MASTERCRAFT BOAT HLDGS INC | [MCFT](https://holderbook.com/stocks/MCFT/) | $12.9M | 499,107 | 3.5% | 1 |
| CAVCO INDS INC DEL | [CVCO](https://holderbook.com/stocks/CVCO/) | $11.5M | 18,772 | 3.1% | 3 |
| STRATA CRITICAL MEDICAL INC | [SRTA](https://holderbook.com/stocks/SRTA/) | $11.4M | 2,171,006 | 3.1% | 3 |
| LUXEXPERIENCE BV | [LUXE](https://holderbook.com/stocks/LUXE/) | $10.9M | 1,462,815 | 3.0% | 3 |
| TURNING PT BRANDS INC | [TPB](https://holderbook.com/stocks/TPB/) | $10.8M | 125,854 | 3.0% | 3 |
| GPGI INC | [GPGI](https://holderbook.com/stocks/GPGI/) | $10.8M | 681,032 | 2.9% | 3 |
| KNIGHT-SWIFT TRANSN HLDGS IN | [KNX](https://holderbook.com/stocks/KNX/) | $10.8M | 138,435 | 2.9% | 1 |
| BOYD GROUP SERVICES INC | [BGSI](https://holderbook.com/stocks/BGSI/) | $10.5M | 110,928 | 2.9% | 3 |
| BUILD-A-BEAR WORKSHOP INC | [BBW](https://holderbook.com/stocks/BBW/) | $10.4M | 339,225 | 2.8% | 3 |
| KURA SUSHI USA INC | [KRUS](https://holderbook.com/stocks/KRUS/) | $10.2M | 176,989 | 2.8% | 3 |
| CARGURUS INC | [CARG](https://holderbook.com/stocks/CARG/) | $10.1M | 296,864 | 2.8% | 1 |
| WEALTHFRONT CORP | [WLTH](https://holderbook.com/stocks/WLTH/) | $9.2M | 1,025,030 | 2.5% | 2 |
| CROCS INC | [CROX](https://holderbook.com/stocks/CROX/) | $9.1M | 75,562 | 2.5% | 2 |
| GLOBAL X FDS | [AIQ](https://holderbook.com/stocks/AIQ/) | $8.8M | 127,765 | 2.4% | 1 |
| LIFEWAY FOODS INC | [LWAY](https://holderbook.com/stocks/LWAY/) | $8.7M | 291,709 | 2.4% | 1 |
| PDF SOLUTIONS INC | [PDFS](https://holderbook.com/stocks/PDFS/) | $8.3M | 117,854 | 2.3% | 3 |
| FLYWIRE CORPORATION | [FLYW](https://holderbook.com/stocks/FLYW/) | $8.3M | 473,706 | 2.3% | 2 |
| CORPORACION AMER ARPTS S A | [CAAP](https://holderbook.com/stocks/CAAP/) | $7.4M | 295,075 | 2.0% | 1 |
| BRIGHTVIEW HLDGS INC | [BV](https://holderbook.com/stocks/BV/) | $7.1M | 502,957 | 1.9% | 3 |
| RESOLUTE HLDGS MGMT INC | [RHLD](https://holderbook.com/stocks/RHLD/) | $7.0M | 48,165 | 1.9% | 1 |
| LISTED FDS TR | [INFL](https://holderbook.com/stocks/INFL/) | $5.8M | 176,270 | 1.6% | 2 |
| SOLARIS ENERGY INFRAS INC | [SEI](https://holderbook.com/stocks/SEI/) | $5.2M | 64,796 | 1.4% | 1 |
| MAYVILLE ENGR CO INC | [MEC](https://holderbook.com/stocks/MEC/) | $5.1M | 136,746 | 1.4% | 1 |
| MAGNITE INC | [MGNI](https://holderbook.com/stocks/MGNI/) | $4.1M | 217,753 | 1.1% | 1 |
| SHARONAI HOLDINGS INC | [SHAZ](https://holderbook.com/stocks/SHAZ/) | $2.4M | 28,685 | 0.7% | 1 |
| CRONOS GROUP INC | [CRON](https://holderbook.com/stocks/CRON/) | $2.3M | 810,163 | 0.6% | 3 |
| MAMAS CREATIONS INC | [MAMA](https://holderbook.com/stocks/MAMA/) | $1.6M | 90,110 | 0.4% | 3 |
| MIMEDX GROUP INC | [MDXG](https://holderbook.com/stocks/MDXG/) | $828.7K | 215,239 | 0.2% | 1 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $653.9K | 0 | 0.2% | 3 |
| TOYO CO LTD | [TOYO](https://holderbook.com/stocks/TOYO/) | $563.5K | 0 | 0.2% | 1 |
| WESTROCK COFFEE CO | [WEST](https://holderbook.com/stocks/WEST/) | $361.6K | 0 | 0.1% | 1 |
| GALAXY DIGITAL INC. | [GLXY](https://holderbook.com/stocks/GLXY/) | $283.3K | 167,836 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +29.0% | +14.8% | +14.1% | 101% |
| Q1 2026 | -5.9% | -4.6% | -1.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $366.3M | 41 |
| Q1 2026 | $221.2M | 32 |
| Q4 2025 | $286.2M | 30 |