Applied Fundamental Research, LLC 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Applied Fundamental Research, LLC disclosed 10 US equity positions worth $100.7m in its Q4 2025 13F filing. The largest position was PPLI at 17.4% of the reported book, followed by DY and UFPT. Against the Q3 2025 filing, it opened 1 new position, added to 4 and reduced 4 among the top 10 holdings.
What did Applied Fundamental Research, LLC own in Q4 2025? Top 10 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | PPLI IAC INC | Communication Services | 17.4% | $17.5m | 448,254 | 0% | held |
| 2 | DY DYCOM INDS INC | Industrials | 11.7% | $11.8m | 34,972 | -35% | reduced |
| 3 | UFPT UFP TECHNOLOGIES INC | Healthcare | 11.6% | $11.7m | 52,788 | 8% | added |
| 4 | FIGS FIGS INC | Consumer Cyclical | 9.9% | $9.9m | 875,819 | -31% | reduced |
| 5 | UHAL/B U HAUL HOLDING COMPANY | 9.8% | $9.9m | 212,026 | 9% | added | |
| 6 | NABL N-ABLE INC | Technology | 9.3% | $9.4m | 1,252,829 | 18% | added |
| 7 | ALGN ALIGN TECHNOLOGY INC | Healthcare | 9.1% | $9.1m | 58,419 | 5% | added |
| 8 | GLPI GAMING & LEISURE PPTYS INC | Real Estate | 7.6% | $7.6m | 170,207 | -21% | reduced |
| 9 | HEI/A HEICO CORP | 7.1% | $7.1m | 28,134 | – | new | |
| 10 | NOMD NOMAD FOODS LTD | Consumer Defensive | 6.5% | $6.6m | 524,300 | -29% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.