Applied Fundamental Research, LLC

All Holdings — 2025 Q4

Portfolio Concentration Analytics: 7.6
Risk-based ENB:
Total Positions
11
Quarter
2025 Q4
Top Holding
IAC (17.4%)
Top 10 Concentration
100.0%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-11 of 11
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
IAC
IAC INC
Communication Services 17.41% 14.84% #1 1
Prev: #2
7.0 no change no change
P
S
448,254 $17,526,731 2020 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
DY
DYCOM INDS INC
Industrials 11.74% 15.31% #2 1
Prev: #1
4.8 -19,046 -35.3%
P
S
34,972 $11,817,039 2020 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
UFPT
UFP TECHNOLOGIE...
Healthcare 11.64% 9.46% #3 2
Prev: #5
6.7 4,035 8.3%
P
S
52,788 $11,720,520 2020 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FIGS
FIGS INC
Consumer Cyclical 9.88% 8.29% #4 4
Prev: #8
4.0 -398,999 -31.3%
P
S
875,819 $9,949,304 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
UHAL/B
U HAUL HOLDING ...
Industrials 9.84% 9.64% #5 1
Prev: #4
6.0 17,156 8.8%
P
S
212,026 $9,910,095 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NABL
N-ABLE INC
Technology 9.31% 8.03% #6 3
Prev: #9
5.8 193,680 18.3%
P
S
1,252,829 $9,371,161 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ALGN
ALIGN TECHNOLOG...
Healthcare 9.06% 6.80% #7 3
Prev: #10
5.6 2,525 4.5%
P
S
58,419 $9,122,127 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
GLPI
GAMING & LEISUR...
Real Estate 7.55% 9.77% #8 5
Prev: #3
3.1 -45,486 -21.1%
P
S
170,207 $7,606,551 2020 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
HEI/A
HEICO CORP
Industrials 7.05% #9
Prev: #—
4.8 28,134 no change
NEW
28,134 $7,101,866 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NOMD
NOMAD FOODS LTD
Consumer Defensive 6.51% 9.43% #10 4
Prev: #6
2.7 -213,716 -29.0%
P
S
524,300 $6,558,993 2020 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
HSII
HEIDRICK & STRU...
Industrials 0.00% 8.44%
Sold All 😨
(Was: #7)
0.3 -174,612 -100.0%
CLOSED
$— 2020 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-11 of 11 holdings

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