Potrero Capital Research LLC

Fundamental concentrated ★Signal CIK 1536630
League rank
#132
in Fundamental concentrated · #203 overall
Long book
$162.9M
Q1 2026
Positions
31
Top-10 weight
62%
concentration
Last quarter
+29.7%
SPY +14.8%
Turnover
56%
of book per quarter

Strategy in plain words

auto-generated from filings

Potrero Capital Research LLC is a concentrated fundamental stock-picker, running a $162.9M US long book across 31 positions.

The portfolio is concentrated: the top 10 names carry 62% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: BLACKLINE INC, SEAGATE TECHNOLOGY HOLDINGS, BIRKENSTOCK HOLDING PLC, TRANSALTA CORP, AMRIZE LTD.

Over the last 9 quarters its long book ran on average 1.4pp per quarter ahead of the S&P 500, beating the index in 4 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
+0.6%
Q2 2024
+1.3%
Q3 2024
+6.0%
Q4 2024
-15.0%
Q1 2025
+26.5%
Q2 2025
+18.7%
Q3 2025
+0.9%
Q4 2025
-15.7%
Q1 2026
+29.7%

Sector allocation

Technology
28%
Other
27%
Industrials
19%
Communications
11%
Utilities
9%
Consumer staples
4%
Services media
2%
Materials
1%

Long book by quarter

$160.9M
Q1 2024
$232.0M
Q2 2024
$297.8M
Q3 2024
$236.4M
Q4 2024
$203.5M
Q1 2025
$215.1M
Q2 2025
$329.1M
Q3 2025
$297.0M
Q4 2025
$162.9M
Q1 2026

What does Potrero Capital own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
BL BLACKLINE INCTechnology421.1K$15.6M9.6%+13.7%
STXN SEAGATE TECHNOLOGY HOLDINGS—28.3K$11.1M6.8%-54.0%
BIRK BIRKENSTOCK HOLDING PLCOther304.3K$10.9M6.7%New
TAC TRANSALTA CORPUtilities790.4K$10.4M6.4%-54.2%
AMRZ AMRIZE LTDIndustrials167.4K$9.4M5.8%-23.6%
YETI YETI HOLDINGS INCOther255.0K$9.3M5.7%-20.5%
GLW CORNING INCIndustrials65.7K$8.9M5.5%New
ATEX ANTERIX INCCommunications229.6K$8.8M5.4%New
CROX CROCS INCOther101.0K$8.4M5.1%New
GEV GE VERNOVA INCIndustrials9.1K$7.9M4.9%-33.3%
AD ARRAY DIGITAL INFRASTRUCTURECommunications160.4K$7.4M4.5%+79.6%
BILL BILL HOLDINGS INCTechnology171.4K$6.6M4.0%-14.3%
HNGE HINGE HEALTH INC-ATechnology117.2K$4.5M2.8%New
TPB TURNING POINT BRANDS INCConsumer staples48.5K$4.2M2.6%-54.5%
TLN TALEN ENERGY CORPUtilities10.4K$3.3M2.0%-86.6%
SPT SPROUT SOCIAL INC - CLASS ATechnology556.6K$3.2M1.9%+46.4%
WEAV WEAVE COMMUNICATIONS INCTechnology619.4K$2.9M1.8%-20.2%
NXDR NEXTDOOR HOLDINGS INCTechnology1.9M$2.7M1.7%-23.7%
AKAM AKAMAI TECHNOLOGIES INCServices media20.0K$2.3M1.4%New
MPTI M-TRON INDUSTRIES INCTechnology31.8K$2.1M1.3%New
ZVIA ZEVIA PBC-AConsumer staples1.7M$2.0M1.3%New
CMRC COMMERCE.COM INCTechnology748.7K$2.0M1.2%-47.1%
SOLS SOLSTICE ADV MATERIALS INCMaterials21.8K$1.7M1.0%-47.3%
LGN LEGENCE CORP-CL AIndustrials25.1K$1.4M0.9%-73.2%
BLND BLEND LABS INC-ATechnology549.7K$934K0.6%-66.9%
FRSH FRESHWORKS INC-CL ATechnology64.6K$519K0.3%-83.7%
BMM BLUE MOON METALS INCMaterials78.3K$512K0.3%New
META META PLATFORMS INC-CLASS ATechnology218$125K0.1%Held

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 15, 202634$162.9M canonicalSEC ↗
Q4 202513F-HRFeb 17, 202637$297.0M canonicalSEC ↗
Q3 202513F-HRNov 14, 202543$868.7M canonicalSEC ↗
Q2 202513F-HRAug 14, 202531$412.8M canonicalSEC ↗
Q1 202513F-HRMay 15, 202522$203.5M canonicalSEC ↗
Q4 202413F-HRFeb 14, 202532$298.7M canonicalSEC ↗
Q3 202413F-HRNov 14, 202441$316.1M canonicalSEC ↗
Q2 202413F-HRAug 14, 202431$234.6M canonicalSEC ↗
Q1 202413F-HRMay 15, 202429$175.3M canonicalSEC ↗

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