Applied Fundamental Research, LLC

Q3 2025 13F-HR Holdings

Location
Cambridge, MA
Holdings as of
9/30/2025
Date filed
10/30/2025
Form type
13F-HR
Num holdings
10
Total value ($000)
$102,920
Net value change ($000)
-9,910 (-8.8%)
New positions
0
Sold out positions
1
Turnover %
2.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 7/28/2025 Next filing: 1/28/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
ALGN 1,074 18.1%
UHAL 631 6.8%
HSI 591 7.3%
UFPT 102 1.1%
Top Reduces (Value $000, Stocks/ETFs)
NOMD -5,265 -35.2%
JBI -2,479 -100.0%
IAC -2,186 -12.5%
GLPI -898 -8.2%
DY -796 -4.8%
FIGS -454 -5.1%
NABL -231 -2.7%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type