Applied Fundamental Research, LLC

Q4 2025 13F-HR Holdings

Location
Cambridge, MA
Holdings as of
12/31/2025
Date filed
1/28/2026
Form type
13F-HR
Num holdings
10
Total value ($000)
$100,684
Net value change ($000)
-2,236 (-2.2%)
New positions
1
Sold out positions
1
Turnover %
15.7%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/30/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 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)
HEI 7,102 NEW
IAC 2,255 14.8%
ALGN 2,123 30.3%
UFPT 1,990 20.5%
FIGS 1,420 16.6%
NABL 1,110 13.4%
Top Reduces (Value $000, Stocks/ETFs)
HSI -8,690 -100.0%
DY -3,943 -25.0%
NOMD -3,146 -32.4%
GLPI -2,446 -24.3%
UHAL -9 -0.1%
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