Applied Fundamental Research, LLC
CIK
1849776
Location
CAMBRIDGE, MA
Portfolio Value
Micro
$62,037,234
Diversification
Moderately concentrated
Filing Date
Global Rank
#6,567
/ 8,621
▼ 356
· as of Mar 2026
Top Industry
Internet Content & Information
19.7%
3Y Alpha vs SPY
-19.6%
Period ended 4 months ago
Filed May 13, 2026 · 3mo
22 quarters · since Dec 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Cloned portfolio
+0.2%
SPY
+67.9%
Annualised alpha
-18.8%
Max drawdown
−28.4%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.
Portfolio Concentration
8 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
19.7%
−1.3 pts
Top 5
84.5%
+12.3 pts
Top 10
100.0%
0.0 pts
HHI
1,568
Moderately concentrated+204
Portfolio Trend
22 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 33.4% | $20,730,472 |
| Communication Services | 19.7% | $12,213,112 |
| Industrials | 19.1% | $11,849,213 |
| Consumer Cyclical | 12.3% | $7,614,954 |
| Technology | 9.4% | $5,807,943 |
| Real Estate | 3.3% | $2,042,528 |
| Consumer Defensive | 2.9% | $1,779,012 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
1 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| ALGN | Align Technology Inc | +2,893 | 61,312 | $10,510,716 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
5 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| FIGS | FIGS, Inc. | −360,250 | 515,569 | $7,614,954 | |
| NOMD | Nomad Foods Ltd | −339,179 | 185,121 | $1,779,012 | |
| PPLI | People Inc | −143,155 | 305,099 | $12,213,112 | |
| GLPI | Gaming & Leisure Properties, Inc. | −124,173 | 46,034 | $2,042,528 | |
| NABL | N-able, Inc. | −9,158 | 1,243,671 | $5,807,943 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarterNo qualifying positions this quarter.
Sold Out
Positions the filer fully exitedNo qualifying positions this quarter.
8 positions ·
$62,037,234 total
· as of Mar 31, 2026
All sectors
Communication Services
Consumer Cyclical
Consumer Defensive
Healthcare
Industrials
Real Estate
Technology
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| PPLI |
People Inc
Communication Services
|
Reduced | 305,099 | $12,213,112 | 19.69% | |
| DY |
Dycom Industries Inc
Industrials
|
Held | 34,972 | $11,849,213 | 19.10% | |
| ALGN |
Align Technology Inc
Healthcare
|
Added | 61,312 | $10,510,716 | 16.94% | |
| UFPT |
Ufp Technologies Inc
Healthcare
|
Held | 52,788 | $10,219,756 | 16.47% | |
| FIGS |
FIGS, Inc.
Consumer Cyclical
|
Reduced | 515,569 | $7,614,954 | 12.27% | |
| NABL |
N-able, Inc.
Technology
|
Reduced | 1,243,671 | $5,807,943 | 9.36% | |
| GLPI |
Gaming & Leisure Properties, Inc.
Real Estate
|
Reduced | 46,034 | $2,042,528 | 3.29% | |
| NOMD |
Nomad Foods Ltd
Consumer Defensive
|
Reduced | 185,121 | $1,779,012 | 2.87% |