Q2 2026 13F · SEC CIK 1849776
Applied Fundamental Research, LLC
Hedge fundFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $84.5M
- Reported positions
- 10
- Top holdings a year, 3 yrs
- +8.4%
- Assets under management
- $142.9M
Applied Fundamental Research, LLC is a hedge fund that reported 10 positions worth $84.5M in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Dycom Inds Inc (DY, 22.7%), UFP Technologies Inc (UFPT, 15.8%), Heico Corp (HEI-A, 15.2%). A portfolio copying its top holdings returned 8.4% a year over the last 3 years, against 20.4% for the S&P 500.
Applied Fundamental Research, LLC holdings all 10 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| DYDycom Inds Inc | 22.7% | +8.4% | $19.2M |
| UFPTUFP Technologies Inc | 15.8% | -4.3% | $13.4M |
| HEI-AHeico Corp | 15.2% | +25.1% | $12.9M |
| ALGNAlign Technology Inc | 11.6% | -5.6% | $9.8M |
| PPLIPeople Inc | 10.1% | -39.5% | $8.5M |
| FIGSFigs Inc | 8.4% | +35.2% | $7.1M |
| UHALBU Haul Holding Company | 8.1% | +0.0% | $6.9M |
| BFAMBright Horizons Fam Sol in D | 5.1% | — | $4.3M |
| NABLN-Able Inc | 2.5% | -53.6% | $2.1M |
| IGVIshares Tr | 0.5% | — | $389K |
What Applied Fundamental Research, LLC bought and sold in Q2 2026, against Q1 2026.
New positions
- BFAM Bright Horizons Fam Sol in D5.1% of 13F
- IGV Ishares Tr0.5% of 13F
Added to
- FIGS Figs Inc+35.2% shares
- HEI-A Heico Corp+25.1% shares
- DY Dycom Inds Inc+8.4% shares
Reduced
- NABL N-Able Inc-53.6% shares
- PPLI People Inc-39.5% shares
- ALGN Align Technology Inc-5.6% shares
Sold out
- GLPI Gaming & Leisure Pwas 2.7%
- NOMD Nomad Foods Ltdwas 2.3%
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- +21.6% /yr
- S&P 500 +20.1%
- 3 years
- +8.4% /yr
- S&P 500 +20.4%
- 5 years
- +1.0% /yr
- S&P 500 +11.6%
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $84.5M | 10 |
| Q1 2026 | $75.8M | 10 |
| Q4 2025 | $100.7M | 10 |
| Q3 2025 | $102.9M | 10 |
| Q2 2025 | $112.8M | 11 |
| Q1 2025 | $119.3M | 12 |
| Q4 2024 | $127.8M | 12 |
| Q3 2024 | $151.4M | 12 |
| Q2 2024 | $136.0M | 13 |
| Q1 2024 | $135.0M | 11 |
| Q4 2023 | $138.6M | 11 |
| Q3 2023 | $137.6M | 12 |
Questions about Applied Fundamental Research, LLC's portfolio
What stocks does Applied Fundamental Research, LLC own?
Applied Fundamental Research, LLC's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 10 positions worth $84.5M. The largest are Dycom Inds Inc (DY) at 22.7%, UFP Technologies Inc (UFPT) at 15.8%, Heico Corp (HEI-A) at 15.2%, Align Technology Inc (ALGN) at 11.6% and People Inc (PPLI) at 10.1%.
What did Applied Fundamental Research, LLC buy last quarter?
In Q2 2026, Applied Fundamental Research, LLC added a new position in Bright Horizons Fam Sol in D (BFAM), a new position in Ishares Tr (IGV), Figs Inc (FIGS) (+35.2% shares), Heico Corp (HEI-A) (+25.1% shares) and Dycom Inds Inc (DY) (+8.4% shares), compared with its Q1 2026 filing.
What did Applied Fundamental Research, LLC sell last quarter?
In Q2 2026, Applied Fundamental Research, LLC sold all of Gaming & Leisure P (GLPI), sold all of Nomad Foods Ltd (NOMD), N-Able Inc (NABL) (-53.6% shares), People Inc (PPLI) (-39.5% shares) and Align Technology Inc (ALGN) (-5.6% shares), compared with its Q1 2026 filing.
How has Applied Fundamental Research, LLC's portfolio performed?
A portfolio copying Applied Fundamental Research, LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +8.4% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +21.6% against +20.1%. Over 5 years: +1.0% a year against +11.6%.
When is Applied Fundamental Research, LLC's next 13F filing due?
13F filings are due 45 days after each quarter ends. Applied Fundamental Research, LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.
How much money does Applied Fundamental Research, LLC manage?
Applied Fundamental Research, LLC reported $142.9M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $84.5M.