Institutional Manager · CIK 0001849776
Applied Fundamental Research, LLC
CAMBRIDGE, MA · File #028-21098
Latest AUM
$100.7M
Positions
10
Top-10 Concentration
100.0%
Filings
10
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| EXITED | HEIDRICK & STRUGGLES INTL IN | 422819102 | -174,612 | -$8.7M | $0 |
| NEW | HEICO CORP | HEI-A | +28,134 | +$7.1M | $0 |
| REDUCE | DYCOM INDS INC | 267475101 | -19,046 | -$6.4M | +$2.5M |
| REDUCE | FIGS INC | FIGS | -398,999 | -$4.5M | +$6.0M |
| REDUCE | NOMAD FOODS LTD | NOMD | -213,716 | -$2.7M | -$472,330 |
| REDUCE | GAMING & LEISURE PPTYS INC | 36467J108 | -45,486 | -$2.0M | -$414,131 |
| ADD | N-ABLE INC | NABL | +193,680 | +$1.4M | -$338,927 |
| ADD | UFP TECHNOLOGIES INC | UFPT | +4,035 | +$895,891 | +$1.1M |
| ADD | U HAUL HOLDING COMPANY | UHAL-B | +17,156 | +$801,871 | -$810,659 |
| ADD | ALIGN TECHNOLOGY INC | ALGN | +2,525 | +$394,279 | +$1.7M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202510 pos · $100.7M
- 13F HOLDINGS REPORTQ/E Sep 202510 pos · $102.9M
- 13F HOLDINGS REPORTQ/E Jun 202511 pos · $112.8M
- 13F HOLDINGS REPORTQ/E Mar 202512 pos · $119.3M
- 13F HOLDINGS REPORTQ/E Dec 202412 pos · $127.8M
- 13F HOLDINGS REPORTQ/E Sep 202412 pos · $151.4M
- 13F HOLDINGS REPORTQ/E Jun 202413 pos · $136.0M
- 13F HOLDINGS REPORT (Amended)Q/E Mar 202411 pos · $135.0M
- 13F HOLDINGS REPORTQ/E Mar 202411 pos · $135.0M
- 13F HOLDINGS REPORTQ/E Dec 202312 pos · $137.6M
Top 10 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | IAC INC | IAC | 448,254 | $17.5M | 17.41% |
| 2 | DYCOM INDS INC | 267475101 | 34,972 | $11.8M | 11.74% |
| 3 | UFP TECHNOLOGIES INC | UFPT | 52,788 | $11.7M | 11.64% |
| 4 | FIGS INC | FIGS | 875,819 | $9.9M | 9.88% |
| 5 | U HAUL HOLDING COMPANY | UHAL-B | 212,026 | $9.9M | 9.84% |
| 6 | N-ABLE INC | NABL | 1,252,829 | $9.4M | 9.31% |
| 7 | ALIGN TECHNOLOGY INC | ALGN | 58,419 | $9.1M | 9.06% |
| 8 | GAMING & LEISURE PPTYS INC | 36467J108 | 170,207 | $7.6M | 7.55% |
| 9 | HEICO CORP | HEI-A | 28,134 | $7.1M | 7.05% |
| 10 | NOMAD FOODS LTD | NOMD | 524,300 | $6.6M | 6.51% |