12 West Capital Management LP: GDS HLDGS LTD (GDS): Quarterly 13F Position History
As of Q1 2026, 12 West Capital Management LP reported 2,576,576 shares of GDS HLDGS LTD (GDS), worth $103.8M and representing 17.5% of its 13F equity book. Quarter-over-quarter share count change: 1,707,200 (-39.9%) . The position first appeared in Q1 2018 and has been disclosed across 33 13F-HR filings in Pactolio's tracked window.
- 2,576,576Shares Held (Latest Filing)
- $103.8MReported Market Value (Latest Filing)
- 17.5%Portfolio Weight (% of 13F Equity Book)
- 1,707,200Quarter-over-Quarter Share Change
- -$45.7MQuarter-over-Quarter Value Change
- 10,941,879Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 33 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 2,576,576 | 1,707,200 | -39.9% | $103.8M | 17.5% | $40.3 |
| Q4 2025 | 4,283,776 | 238,200 | -5.3% | $149.5M | 17.8% | $34.9 |
| Q3 2025 | 4,521,976 | 342,500 | -7.0% | $175.0M | 18.2% | $38.7 |
| Q2 2025 | 4,864,476 | 0 | — | $148.7M | 15.7% | $30.6 |
| Q1 2025 | 4,864,476 | 744,661 | -13.3% | $123.2M | 18.2% | $25.3 |
| Q4 2024 | 5,609,137 | 74,837 | -1.3% | $133.3M | 14.0% | $23.8 |
| Q3 2024 | 5,683,974 | +1,070,000 | +23.2% | $116.0M | 11.9% | $20.4 |
| Q2 2024 | 4,613,974 | 0 | — | $42.9M | 4.4% | $9.3 |
| Q1 2024 | 4,613,974 | 443,619 | -8.8% | $30.7M | 2.8% | $6.7 |
| Q4 2023 | 5,057,593 | 12,176 | -0.2% | $46.1M | 4.4% | $9.1 |
| Q3 2023 | 5,069,769 | 16,035 | -0.3% | $55.5M | 5.0% | $10.9 |
| Q2 2023 | 5,085,804 | 1,136,050 | -18.3% | $55.9M | 4.8% | $11.0 |
| Q1 2023 | 6,221,854 | 519,705 | -7.7% | $116.1M | 10.0% | $18.7 |
| Q4 2022 | 6,741,559 | 376,325 | -5.3% | $139.0M | 14.0% | $20.6 |
| Q3 2022 | 7,117,884 | 218,427 | -3.0% | $125.7M | 11.1% | $17.7 |
| Q2 2022 | 7,336,311 | 3,679 | -0.1% | $245.0M | 20.9% | $33.4 |
| Q1 2022 | 7,339,990 | 570,588 | -7.2% | $288.1M | 17.5% | $39.3 |
| Q4 2021 | 7,910,578 | 277,162 | -3.4% | $373.1M | 16.6% | $47.2 |
| Q3 2021 | 8,187,740 | 1,366,455 | -14.3% | $463.5M | 21.1% | $56.6 |
| Q2 2021 | 9,554,195 | 209,977 | -2.2% | $749.9M | 31.4% | $78.5 |
| Q1 2021 | 9,764,172 | 224,189 | -2.2% | $791.8M | 37.7% | $81.1 |
| Q4 2020 | 9,988,361 | 0 | — | $935.3M | 40.2% | $93.6 |
| Q3 2020 | 9,988,361 | 0 | — | $817.3M | 39.8% | $81.8 |
| Q2 2020 | 9,988,361 | 953,518 | -8.7% | $795.7M | 41.1% | $79.7 |
| Q1 2020 | 10,941,879 | 0 | — | $634.3M | 39.3% | $58.0 |
| Q4 2019 | 10,941,879 | 0 | — | $564.4M | 36.3% | $51.6 |
| Q3 2019 | 10,941,879 | 0 | — | $438.6M | 28.6% | $40.1 |
| Q2 2019 | 10,941,879 | +25,201 | +0.2% | $411.1M | 31.4% | $37.6 |
| Q1 2019 | 10,916,678 | +200,018 | +1.9% | $389.6M | 32.4% | $35.7 |
| Q4 2018 | 10,716,660 | +1,321,846 | +14.1% | $247.4M | 26.1% | $23.1 |
| Q3 2018 | 9,394,814 | +4,870,089 | +107.6% | $330.0M | 24.7% | $35.1 |
| Q2 2018 | 4,524,725 | +1,449,725 | +47.1% | $181.4M | 15.2% | $40.1 |
| Q1 2018 | 3,075,000 | — | — | $84.4M | 9.3% | $27.5 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did 12 West Capital Management LP first disclose a GDS position in 13F-HR filings?
12 West Capital Management LP first reported GDS HLDGS LTD (GDS) on its 13F-HR filing for the period ending 2018-03-31 (Q1 2018). The position has appeared on 33 reported quarters within Pactolio's tracked window.
What was 12 West Capital Management LP's most recent quarter-over-quarter share-count change in GDS?
Between Q4 2025 and Q1 2026, 12 West Capital Management LP reduced its GDS position by 1,707,200 shares (-39.9%), leaving 2,576,576 shares at a market value of $103.8M.
Does the implied price-per-share represent 12 West Capital Management LP's cost basis in GDS?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.