Applied Fundamental Research
CAMBRIDGE, MAfiles as Applied Fundamental Research, LLC
$85m in 10 US stocks at the end of 30 June 2026. The top 10 are 100.0% of the money. It changed about 20.2% of the portfolio this quarter.
Value
$85m
Stocks
10
Top 10 share
100.0%
Turnover
20.2%
What changed this quarter
New
Bought for the first time this quarter.
- Bright Horizons Family SolutionsBFAM5.1% of the fund
- Ishares TRIGV0.5% of the fund
Added
Bought more of a stock they already held.
- Dycom IndustriesDY22.7% of the fund+8%
- HeicoHEI-A15.2% of the fund+25%
- FigsFIGS8.4% of the fund+35%
Cut
Sold some of their stake.
- UFP TechnologiesUFPT15.8% of the fund-4%
- Align TechnologyALGN11.6% of the fund-6%
- People Inc.PPLI10.1% of the fund-39%
- N-ableNABL2.5% of the fund-54%
Sold out
Sold their entire stake.
Holdings
- Ishares TRIGV
- Share
- 0.5%
- Value
- $389,036
- Shares
- 4,294
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Dycom IndustriesDY | 22.7% | $19m | 37,923 | +8% |
| UFP TechnologiesUFPT | 15.8% | $13m | 50,498 | -4% |
| HeicoHEI-A | 15.2% | $13m | 49,958 | +25% |
| Align TechnologyALGN | 11.6% | $10m | 57,903 | -6% |
| People Inc.PPLI | 10.1% | $9m | 184,734 | -39% |
| FigsFIGS | 8.4% | $7m | 697,247 | +35% |
| U-Haul HoldingUHAL-B | 8.1% | $7m | 119,045 | Held |
| Bright Horizons Family SolutionsBFAM | 5.1% | $4m | 60,370 | New |
| N-ableNABL | 2.5% | $2m | 577,464 | -54% |
| Ishares TRIGV | 0.5% | $389,036 | 4,294 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 25.1% since 30 June 2025.
Where the money is
Industrials37.9%
Health care27.4%
Retail & consumer21.6%
Technology12.6%
Other0.5%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.