# EDGAR Filing Document

**Accession Number:** 0002111915
**File Stem:** 0001941040-26-000191
**Filing Date:** 2026-2
**Character Count:** 6814
**Document Hash:** 6d8704752180ad7348d688ddda752cee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001941040-26-000191.hdr.sgml**: 20260218

**ACCESSION NUMBER**: 0001941040-26-000191

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260218

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260218

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pillsbury Lake Capital LLC
- **CENTRAL INDEX KEY:** 0002111915

**ORGANIZATION NAME:**
- **EIN:** 932940000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231
- **LEGAL ENTITY IDENTIFIER:** 2549009DN02EQ1ICXP94

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-26624
- **FILM NUMBER:** 26644913

**BUSINESS ADDRESS:**
- **STREET 1:** 539 9TH AVE
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94563
- **BUSINESS PHONE:** 41529864963

**MAIL ADDRESS:**
- **STREET 1:** 539 9TH AVE
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94563

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Pillsbury Lake Capital LLC<br>**Address:** 539 9TH AVE<br>SAN FRANCISCO, CA 94563

**Form 13F File Number:** 028-26624

**CRD Number (if applicable):** 000328282

**SEC File Number (if applicable):** 801-132823

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Aileen Henry Kazmierowski<br>**Title:** Chief Compliance Officer<br>**Phone:** 415-298-6493

**Signature, Place, and Date of Signing:**

Aileen Henry Kazmierowski  San Francisco, CA  02-17-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 30

**Form 13F Information Table Value Total:** $286196721

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AUDIOEYE INC | COM NEW | 050734201 |  | 211428 | 21164 | SH |  | SOLE |  | 21164 | 0 | 0 |
| BACKBLAZE INC | COM CL A | 05637B105 |  | 8057755 | 1729132 | SH |  | SOLE |  | 1729132 | 0 | 0 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 |  | 2650878 | 100679 | SH |  | SOLE |  | 100679 | 0 | 0 |
| BOYD GROUP SERVICES INC | COM | 103310108 |  | 12735876 | 79949 | SH |  | SOLE |  | 79949 | 0 | 0 |
| BRIGHTVIEW HLDGS INC | COM | 10948C107 |  | 6207958 | 489973 | SH |  | SOLE |  | 489973 | 0 | 0 |
| BUILD-A-BEAR WORKSHOP INC | COM | 120076104 |  | 12887164 | 210334 | SH |  | SOLE |  | 210334 | 0 | 0 |
| CAVCO INDS INC DEL | COM | 149568107 |  | 15091044 | 25546 | SH |  | SOLE |  | 25546 | 0 | 0 |
| CHAIN BRIDGE BANCORP INC | CL A | 15746L100 |  | 633427 | 18286 | SH |  | SOLE |  | 18286 | 0 | 0 |
| CLEAN HARBORS INC | COM | 184496107 |  | 5288227 | 22553 | SH |  | SOLE |  | 22553 | 0 | 0 |
| COMPASS INC | CL A | 20464U100 |  | 14080434 | 1332113 | SH |  | SOLE |  | 1332113 | 0 | 0 |
| COMPOSECURE INC | COM CL A | 20459V105 |  | 11878929 | 616127 | SH |  | SOLE |  | 616127 | 0 | 0 |
| CRITEO S A | SPONS ADS | 226718104 |  | 9485588 | 460242 | SH |  | SOLE |  | 460242 | 0 | 0 |
| CRONOS GROUP INC | COM | 22717L101 |  | 4836578 | 1839003 | SH |  | SOLE |  | 1839003 | 0 | 0 |
| GRUPO AEROPORTUARIO DEL SURE | SPON ADR SER B | 40051E202 |  | 6482553 | 20045 | SH |  | SOLE |  | 20045 | 0 | 0 |
| HNI CORP | COM | 404251100 |  | 8882295 | 211282 | SH |  | SOLE |  | 211282 | 0 | 0 |
| IDENTIV INC | COM NEW | 45170X205 |  | 3629952 | 945300 | SH |  | SOLE |  | 945300 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 40837944 | 165900 | SH | Put | SOLE |  | 165900 | 0 | 0 |
| KASPI KZ JSC | SPONSORED ADS | 48581R205 |  | 6338140 | 81123 | SH |  | SOLE |  | 81123 | 0 | 0 |
| KILROY RLTY CORP | COM | 49427F108 |  | 8362958 | 223788 | SH |  | SOLE |  | 223788 | 0 | 0 |
| KURA SUSHI USA INC | CL A COM | 501270102 |  | 8036527 | 153574 | SH |  | SOLE |  | 153574 | 0 | 0 |
| LINCOLN EDL SVCS CORP | COM | 533535100 |  | 17028358 | 705108 | SH |  | SOLE |  | 705108 | 0 | 0 |
| LUXEXPERIENCE BV | SPONSORED ADS | 55406W103 |  | 12602388 | 1509268 | SH |  | SOLE |  | 1509268 | 0 | 0 |
| MAGNITE INC | COM | 55955D100 |  | 9472542 | 583644 | SH |  | SOLE |  | 583644 | 0 | 0 |
| MAMAS CREATIONS INC | COM | 56146T103 |  | 6653052 | 493184 | SH |  | SOLE |  | 493184 | 0 | 0 |
| NCR ATLEOS CORPORATION | COM SHS | 63001N106 |  | 10216834 | 268088 | SH |  | SOLE |  | 268088 | 0 | 0 |
| NEXTDOOR HOLDINGS INC | COM CL A | 65345M108 |  | 2415000 | 1150000 | SH |  | SOLE |  | 1150000 | 0 | 0 |
| PDF SOLUTIONS INC | COM | 693282105 |  | 10729249 | 376069 | SH |  | SOLE |  | 376069 | 0 | 0 |
| PINTEREST INC | CL A | 72352L106 |  | 3578127 | 138205 | SH |  | SOLE |  | 138205 | 0 | 0 |
| STRATA CRITICAL MEDICAL INC | CL A COM | 092667104 |  | 9515392 | 1978252 | SH |  | SOLE |  | 1978252 | 0 | 0 |
| TURNING PT BRANDS INC | COM | 90041L105 |  | 17370124 | 160241 | SH |  | SOLE |  | 160241 | 0 | 0 |

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