Divisar Partners, L.P.
Divisar Partners, L.P. is a hedge fund based in San Francisco, California. According to its most recent Form D, filed Nov 4, 2025, the fund has sold $57,106,464 of interests to 65 investors since its first sale in May 2009. The filing does not set a minimum investment. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(b), which does not permit general solicitation. Related persons named in the filing include Divisar Capital Management, LLC; Steven Baughman.
Performance
No verified returns have been reported for this fund. As a rough guide, Divisar Capital Management, LLC, which manages it, disclosed U.S. stock holdings that returned an estimated +89.9% 2026 YTD through Jun 30 (S&P 500: +9.5%), based only on its public 13F filings. Over a longer period, Q3 2024 to Q2 2026, the estimate is +176.6% (S&P 500: +37.2%).
This estimate covers the firm's whole disclosed long U.S. stock portfolio. It is not this fund's return and excludes dividends, fees, shorts, derivatives, bonds, cash and trading within each quarter.
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- Total raised
- $57,106,464Cumulative sales reported on Form D
- Investors
- 65
- First sale
- May 1, 2009
- Minimum investment
- None set
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Divisar Capital Management, LLC; Steven Baughman
- Latest Form D
- Nov 4, 2025
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about Divisar Partners, L.P.
What is the minimum investment for Divisar Partners, L.P.?
Divisar Partners, L.P.'s latest Form D, filed Nov 4, 2025, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Divisar Partners, L.P.?
Divisar Partners, L.P. is generally open only to accredited investors, and it may have no more than 100 beneficial owners because it relies on Section 3(c)(1). It uses Rule 506(b), which does not allow general advertising.
How much has Divisar Partners, L.P. raised?
Divisar Partners, L.P. reports $57,106,464 sold from 65 investors on its Form D filed Nov 4, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is Divisar Partners, L.P. based?
Divisar Partners, L.P. is based in San Francisco, California and is managed by Divisar Capital Management, LLC.
When did Divisar Partners, L.P. launch?
Divisar Partners, L.P. reports its first sale in May 2009.
Size compared with every hedge fund
Raised more than 58% of the 1,060 hedge funds based in California, and more than 48% of all 10,308 that report sales.