12 West Capital Management LP

CIK 0001540531 · Q1 2026

13F Equity AUM

$592.4M

-29.4% QoQ

Positions

+2 QoQ

AUM Rank

#3,890

Top 31%

Skill Alpha (FF)

+0.3%/yr^ns

No Clear Edge

Rank #2,102 · Top 26%

vs S&P -1.9%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 64.4%Top 10: 86.8%Top 20: 100.0%

SHAK18.6%

GDS17.5%

TBBB13.7%

RBLX9.1%

TOST5.6%

KRUS5.3%

WRBY4.6%

HE4.5%

AFRM4.1%

RGEN3.8%

Others (10)13.2%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology41.3%

Consumer Cyclical23.8%

Healthcare14.5%

Consumer Defensive14.4%

Utilities4.5%

Other1.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 20Median: 3.73%Avg: 5.00%

0–0.5%

4(0.7%)

0.5–1%

1(0.7%)

1–3%

3(4.7%)

3–5%

6(24.2%)

5%+

6(69.7%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 20Unique: 0vs 20 funds

0.3%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BANK OF AMERICA CORP /DE/

0.4%

BlackRock, Inc.

0.5%

MORGAN STANLEY

0.4%

GEODE CAPITAL MANAGEMENT, LLC

0.6%

VANGUARD CAPITAL MANAGEMENT LLC

0.5%

JPMORGAN CHASE & CO

0.4%

STATE STREET CORP

0.5%

FMR LLC

0.6%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.6%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New8Increased1Decreased10Exited6

New Positions

WRBY4.6%

+1.3M

HTFL2.6%

+640K

SHOP1.0%

+52K

ONCE UPON A FARM PBC1.0%

+365K

ELF0.7%

+70K

AEHR0.1%

+22K

CRWV0.1%

+7K

ACMR0.0%

+6K

Increased

AFRM4.1%

+185K(+53%)

Decreased

GDS17.5%

-1,707,200(-40%)

MRVI3.5%

-1,661,140(-19%)

SHAK18.6%

-720,000(-37%)

TOST5.6%

-600,000(-32%)

RBLX9.1%

-100,000(-10%)

KRUS5.3%

-95,000(-18%)

TBBB13.7%

-75,000(-3%)

NET3.7%

-60,000(-36%)

HE4.5%

-50,000(-3%)

RGEN3.8%

-50,000(-21%)

Exited

-1,838,000

-79,000

-575,000

-1,070,701

-250,000

-126,855

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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