Divisar Capital Management LLC Long-Term Concentrated

CIK: 0001645721 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $355,949 (100.0% shares, 0.0% debt)

Holdings (26)

New Positions (3)

THRM GENTHERM INC 1.6%

Value ($000) $5,782 Shares 158,972 Est. Cost $36.01 Unrealized 0.0%

VERX VERTEX INC 1.4%

Value ($000) $4,993 Shares 250,000 Est. Cost $21.63 Unrealized 0.0%

WEAV WEAVE COMMUNICATIONS INC 1.2%

Value ($000) $4,406 Shares 580,497 Est. Cost $6.64 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
THRM	GENTHERM INC	158,972	$5,782	1.6%	$36.01	0.0%	COM	37253A103
VERX	VERTEX INC	250,000	$4,993	1.4%	$21.63	0.0%	CL A	92538J106
WEAV	WEAVE COMMUNICATIONS INC	580,497	$4,406	1.2%	$6.64	0.0%	COM	94724R108

Increased Positions (9)

ONTO ONTO INNOVATION INC 9.4%

Value ($000) $33,530 (+48.2%) Shares 212,403 (+21.3%) Est. Cost $115.25 Unrealized +23.2%

TTMI TTM TECHNOLOGIES INC 2.7%

Value ($000) $9,476 (+149.3%) Shares 137,339 (+108.1%) Est. Cost $56.24 Unrealized +16.1%

MKSI MKS INC. 3.5%

Value ($000) $12,385 (+61.4%) Shares 77,501 (+25.0%) Est. Cost $97.61 Unrealized +51.8%

OEC ORION S.A. 4.1%

Value ($000) $14,480 (-22.0%) Shares 2,742,356 (+11.9%) Est. Cost $14.56 Unrealized -62.8%

PDFS PDF SOLUTIONS INC 6.1%

Value ($000) $21,678 (+22.7%) Shares 759,815 (+11.1%) Est. Cost $26.47 Unrealized +4.5%

VIAV VIAVI SOLUTIONS INC 1.0%

Value ($000) $3,400 (+167.9%) Shares 190,805 (+90.8%) Est. Cost $13.45 Unrealized +20.1%

RXO RXO INC 2.0%

Value ($000) $7,015 (-14.9%) Shares 555,009 (+3.6%) Est. Cost $21.12 Unrealized -30.1%

CALX CALIX INC 4.5%

Value ($000) $15,877 (+6.0%) Shares 299,963 (+22.9%) Est. Cost $37.65 Unrealized +54.7%

BOX BOX INC 1.6%

Value ($000) $5,625 (+7.8%) Shares 188,049 (+16.3%) Est. Cost $26.91 Unrealized +16.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ONTO	ONTO INNOVATION INC	212,403 (+21.3%)	$33,530 (+48.2%)	9.4%	$115.25	+23.2%	COM	683344105
TTMI	TTM TECHNOLOGIES INC	137,339 (+108.1%)	$9,476 (+149.3%)	2.7%	$56.24	+16.1%	COM	87305R109
MKSI	MKS INC.	77,501 (+25.0%)	$12,385 (+61.4%)	3.5%	$97.61	+51.8%	COM	55306N104
OEC	ORION S.A.	2,742,356 (+11.9%)	$14,480 (-22.0%)	4.1%	$14.56	-62.8%	COM	L72967109
PDFS	PDF SOLUTIONS INC	759,815 (+11.1%)	$21,678 (+22.7%)	6.1%	$26.47	+4.5%	COM	693282105
VIAV	VIAVI SOLUTIONS INC	190,805 (+90.8%)	$3,400 (+167.9%)	1.0%	$13.45	+20.1%	COM	925550105
RXO	RXO INC	555,009 (+3.6%)	$7,015 (-14.9%)	2.0%	$21.12	-30.1%	COMMON STOCK	74982T103
CALX	CALIX INC	299,963 (+22.9%)	$15,877 (+6.0%)	4.5%	$37.65	+54.7%	COM	13100M509
BOX	BOX INC	188,049 (+16.3%)	$5,625 (+7.8%)	1.6%	$26.91	+16.6%	CL A	10316T104

Exited Positions (2)

— VIMEO INC 2.7%

Value ($000) $9,607 Shares 1,239,652 Est. Cost $4.10 Unrealized —

NVRI ENVIRI CORP 1.0%

Value ($000) $3,678 Shares 289,841 Est. Cost $7.27 Unrealized +105.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	VIMEO INC	1,239,652	$9,607	2.7%	$4.10	—	—	92719V100
NVRI	ENVIRI CORP	289,841	$3,678	1.0%	$7.27	+105.0%	—	415864107

Decreased Positions (14)

CMRC COMMERCE.COM INC. 4.4%

Value ($000) $15,561 (-32.4%) Shares 3,776,896 (-18.1%) Est. Cost $5.96 Unrealized -22.6%

ZUMZ ZUMIEZ INC 1.9%

Value ($000) $6,750 (-50.5%) Shares 259,102 (-62.8%) Est. Cost $20.11 Unrealized +19.5%

LASR NLIGHT INC 3.0%

Value ($000) $10,819 (-36.5%) Shares 288,438 (-49.9%) Est. Cost $11.48 Unrealized +190.9%

MCFT MASTERCRAFT BOAT HLDGS INC 3.9%

Value ($000) $13,745 (-25.6%) Shares 726,876 (-15.5%) Est. Cost $20.75 Unrealized -4.9%

UCTT ULTRA CLEAN HLDGS INC 6.8%

Value ($000) $24,046 (-16.2%) Shares 949,328 (-9.8%) Est. Cost $32.20 Unrealized -17.4%

ADTN ADTRAN HOLDINGS INC 7.3%

Value ($000) $25,951 (-13.9%) Shares 2,986,302 (-7.1%) Est. Cost $7.26 Unrealized +19.5%

KLIC KULICKE & SOFFA INDS INC 6.2%

Value ($000) $21,915 (-14.5%) Shares 481,021 (-23.7%) Est. Cost $37.15 Unrealized +13.3%

BC BRUNSWICK CORP 6.4%

Value ($000) $22,923 (+14.0%) Shares 308,770 (-2.9%) Est. Cost $69.61 Unrealized -3.0%

LITE LUMENTUM HLDGS INC 9.0%

Value ($000) $32,078 (-3.3%) Shares 87,029 (-57.3%) Est. Cost $59.57 Unrealized +331.1%

SFIX STITCH FIX INC 0.7%

Value ($000) $2,402 (-29.3%) Shares 457,585 (-41.5%) Est. Cost $3.89 Unrealized +17.3%

PII POLARIS INC 7.2%

Value ($000) $25,588 (-1.7%) Shares 404,553 (-9.7%) Est. Cost $50.20 Unrealized +31.2%

FN FABRINET 1.0%

Value ($000) $3,446 (+12.9%) Shares 7,570 (-9.6%) Est. Cost $56.90 Unrealized +664.5%

COHU COHU INC 1.4%

Value ($000) $5,053 (+3.6%) Shares 217,160 (-9.5%) Est. Cost $31.62 Unrealized -27.5%

ANF ABERCROMBIE & FITCH CO 2.0%

Value ($000) $7,025 (+0.8%) Shares 55,808 (-31.5%) Est. Cost $89.90 Unrealized -2.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CMRC	COMMERCE.COM INC.	3,776,896 (-18.1%)	$15,561 (-32.4%)	4.4%	$5.96	-22.6%	COM SER 1	08975P108
ZUMZ	ZUMIEZ INC	259,102 (-62.8%)	$6,750 (-50.5%)	1.9%	$20.11	+19.5%	COM	989817101
LASR	NLIGHT INC	288,438 (-49.9%)	$10,819 (-36.5%)	3.0%	$11.48	+190.9%	COM	65487K100
MCFT	MASTERCRAFT BOAT HLDGS INC	726,876 (-15.5%)	$13,745 (-25.6%)	3.9%	$20.75	-4.9%	COM	57637H103
UCTT	ULTRA CLEAN HLDGS INC	949,328 (-9.8%)	$24,046 (-16.2%)	6.8%	$32.20	-17.4%	COM	90385V107
ADTN	ADTRAN HOLDINGS INC	2,986,302 (-7.1%)	$25,951 (-13.9%)	7.3%	$7.26	+19.5%	COM	00486H105
KLIC	KULICKE & SOFFA INDS INC	481,021 (-23.7%)	$21,915 (-14.5%)	6.2%	$37.15	+13.3%	COM	501242101
BC	BRUNSWICK CORP	308,770 (-2.9%)	$22,923 (+14.0%)	6.4%	$69.61	-3.0%	COM	117043109
LITE	LUMENTUM HLDGS INC	87,029 (-57.3%)	$32,078 (-3.3%)	9.0%	$59.57	+331.1%	COM	55024U109
SFIX	STITCH FIX INC	457,585 (-41.5%)	$2,402 (-29.3%)	0.7%	$3.89	+17.3%	COM CL A	860897107
PII	POLARIS INC	404,553 (-9.7%)	$25,588 (-1.7%)	7.2%	$50.20	+31.2%	COM	731068102
FN	FABRINET	7,570 (-9.6%)	$3,446 (+12.9%)	1.0%	$56.90	+664.5%	SHS	G3323L100
COHU	COHU INC	217,160 (-9.5%)	$5,053 (+3.6%)	1.4%	$31.62	-27.5%	COM	192576106
ANF	ABERCROMBIE & FITCH CO	55,808 (-31.5%)	$7,025 (+0.8%)	2.0%	$89.90	-2.7%	CL A	002896207