Pillsbury Lake Capital LLC
13F Reported Value
ⓘ$221.2M
incl. option notional
Equity Holdings
ⓘ$220.7M
Option Notional
ⓘ$479,136
$479,136 puts / $0 calls
Holdings
32
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
Pillsbury Lake Capital LLC disclosed 32 positions worth $221.2M in its Form 13F-HR for Q1 2026 — $220.7M in common stock plus $479,136 of put/call option positions (reported at underlying notional value, not premium at risk), led by $LINC (LINCOLN EDUCATIONAL SERVICES CORP) at 7.0% of the equity portfolio, followed by $TPB and $BGSI. During the quarter the fund opened 11 new positions and exited 9 — including a new stake in $ETON and a full exit from $NATL. The portfolio is most concentrated in Consumer Discretionary (36.6% of disclosed assets). All figures are sourced directly from Pillsbury Lake Capital LLC’s Form 13F-HR filing with the SEC under CIK 2111915.
Sector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
- 47.6#1,595
Quality
$15.5M380,568 sh - 57.7#1,026
Quality
$14.8M170,058 sh - —
Quality
$12.5M98,256 sh - 61.7
Quality
$12.4M330,102 sh - 58.3
Quality
$11.7M1,602,329 sh - 47.0
Quality
$10.9M2,603,796 sh - 48.6
Quality
$10.6M4,223,004 sh - —
Quality
$9.4M1,176,568 sh - 51.9
Quality
$9.0M364,954 sh - 56.2
Quality
$9.0M771,376 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 LINCOLN EDUCATIONAL SERVICES CORP$LINC | 47.6#1,595 | $15.5M | 380,568 |
 Turning Point Brands, Inc.$TPB | 57.7#1,026 | $14.8M | 170,058 |
 Boyd Group Services Inc.$BGSI | — | $12.5M | 98,256 |
 BUILD-A-BEAR WORKSHOP INC$BBW | 61.7 | $12.4M | 330,102 |
 Compass, Inc.$COMP | 58.3 | $11.7M | 1,602,329 |
 Strata Critical Medical, Inc.$SRTA | 47.0 | $10.9M | 2,603,796 |
 Cronos Group Inc.$CRON | 48.6 | $10.6M | 4,223,004 |
 LuxExperience B.V.$LUXE | — | $9.4M | 1,176,568 |
 Eton Pharmaceuticals, Inc.$ETON | 51.9 | $9.0M | 364,954 |
 Flywire Corp$FLYW | 56.2 | $9.0M | 771,376 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Pillsbury Lake Capital LLC's 32 positions.
Showing top 10 of 32 holdings.
Sector Allocation
Consumer Discretionary
$80.8M
Healthcare
$37.5M
Consumer Staples
$26.1M
Industrials
$21.0M
Technology
$18.5M
Real Estate
$11.7M
Financials
$8.9M
Utilities
$6.6M
Full Holdings — Pillsbury Lake Capital LLC (Q1 2026)
All 32 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $LINC | LINCOLN EDUCATIONAL SERVICES CORP | $15.5M | 7.0% | -46% | 47.6 |
| 2 | $TPB | Turning Point Brands, Inc. | $14.8M | 6.7% | +6% | 57.7 |
| 3 | $BGSI | Boyd Group Services Inc. | $12.5M | 5.7% | +23% | — |
| 4 | $BBW | BUILD-A-BEAR WORKSHOP INC | $12.4M | 5.6% | +57% | 61.7 |
| 5 | $COMP | Compass, Inc. | $11.7M | 5.3% | +20% | 58.3 |
| 6 | $SRTA | Strata Critical Medical, Inc. | $10.9M | 4.9% | +32% | 47 |
| 7 | $CRON | Cronos Group Inc. | $10.6M | 4.8% | +130% | 48.6 |
| 8 | $LUXE | LuxExperience B.V. | $9.4M | 4.3% | -22% | — |
| 9 | $ETON | Eton Pharmaceuticals, Inc. | $9.0M | 4.1% | NEW | 51.9 |
| 10 | $FLYW | Flywire Corp | $9.0M | 4.1% | NEW | 56.2 |
| 11 |  $PDFS | PDF SOLUTIONS INC | $8.9M | 4.0% | -28% | 46.6 |
| 12 |  $KRUS | KURA SUSHI USA, INC. | $8.3M | 3.8% | -23% | 41.4 |
| 13 |  $UTI | UNIVERSAL TECHNICAL INSTITUTE INC | $7.9M | 3.6% | NEW | 54.5 |
| 14 |  $CVCO | CAVCO INDUSTRIES, INC. | $7.6M | 3.5% | -38% | 65.1 |
| 15 |  $HNI | HNI CORP | $7.4M | 3.4% | +5% | 55.2 |
| 16 |  $LMRI | Lumexa Imaging Holdings, Inc. | $7.0M | 3.2% | NEW | — |
| 17 |  $BLZE | Backblaze, Inc. | $6.8M | 3.1% | +13% | 36.9 |
| 18 |  $CROX | Crocs, Inc. | $6.6M | 3.0% | NEW | 42.1 |
| 19 |  $CLH | CLEAN HARBORS INC | $6.6M | 3.0% | +2% | 56.3 |
| 20 |  $WLTH | WEALTHFRONT CORP | $6.1M | 2.8% | NEW | — |
| 21 |  $BV | BrightView Holdings, Inc. | $6.0M | 2.7% | +3% | 41.7 |
| 22 |  $MAMA | Mama's Creations, Inc. | $5.3M | 2.4% | -29% | 55.1 |
| 23 |  $LMB | Limbach Holdings, Inc. | $4.4M | 2.0% | NEW | 56.5 |
| 24 | — | LISTED FDS TR | $4.3M | 1.9% | NEW | — |
| 25 |  $CRTO | Criteo S.A. | $3.8M | 1.7% | -54% | — |
| 26 |  $GPGI | GPGI, Inc. | $1.9M | 0.8% | -82% | 11.3 |
| 27 |  $INVE | Identiv, Inc. | $1.8M | 0.8% | -48% | 10.3 |
| 28 | — | SPDR SERIES TRUST | $1.5M | 0.7% | NEW | — |
| 29 |  $NBIS | Nebius Group N.V. | $1.0M | 0.5% | NEW | — |
| 30 |  $CBNA | CHAIN BRIDGE BANCORP INC | $937,414 | 0.4% | +47% | — |
| 31 |  $FLXS | FLEXSTEEL INDUSTRIES INC | $822,672 | 0.4% | NEW | 57.2 |
| 32 | — | ISHARES TR | $479,136 | — | -99% | — |
New Positions (11)
$ETON Eton Pharmaceuticals, Inc.$9.0M$FLYW Flywire Corp$9.0M$UTI UNIVERSAL TECHNICAL INSTITUTE INC$7.9M$LMRI Lumexa Imaging Holdings, Inc.$7.0M$CROX Crocs, Inc.$6.6M$WLTH WEALTHFRONT CORP$6.1M$LMB Limbach Holdings, Inc.$4.4M$NBIS Nebius Group N.V.$1.0M$FLXS FLEXSTEEL INDUSTRIES INC$822,672
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