ABS Direct Equity Fund LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 17, 2025), ABS Direct Equity Fund LLC reported 42 stock positions worth $74.8 million. Its top holding was PDD (PDD) at 8.6% of the portfolio, followed by Fomento Economico Mex-SP ADR (FMX, 8.3%) and Par Technology (PAR, 5.3%). Compared with Q4 2024, it opened 10 new positions, sold out of 6, added to 9 and reduced 19. The biggest buy was a new position in Unifirst (UNF) and the biggest sale an exit from Solarwinds (SWI).
- Most Recent 13F
- Q2 2026
- Location
- STAMFORD, CT
- CIK
- 0001729347
- Portfolio Value
- $74.8M (Q1 2025)
- SEC Filing
- 0001999371-25-004356 ↗ filed Apr 17, 2025
Holdings Value
Holdings 42 stocks · $74.8M
| PDD PDD Holdings Inc. | 8.64% | 54,600 | $6.5M | Reduce -9.2% |
| FMX Fomento Economico Mex-SP ADR | 8.34% | 63,900 | $6.2M | Reduce -5.9% |
| PAR Par Technology Corp. | 5.33% | 65,000 | $4.0M | Reduce -7.1% |
| RTO Rentokil Initial PLC-SP ADR | 4.44% | 145,000 | $3.3M | Reduce -9.4% |
| EEFT Euronet Worldwide Inc. | 4.29% | 30,000 | $3.2M | No change |
| AMX America Movil Sab DE CV | 4.19% | 220,300 | $3.1M | Add +1.6% |
| CX Cemex Sab-Spons ADR Part Cer | 4.17% | 555,300 | $3.1M | Reduce -5.0% |
| GFF Griffon Corp. | 3.83% | 40,000 | $2.9M | Reduce -20.0% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 3.69% | 29,713 | $2.8M | No change |
| PRKS United Parks & Resorts Inc. | 3.65% | 60,000 | $2.7M | Reduce -14.3% |
| PAC Grupo Aeroportuario Pac-ADR | 3.52% | 14,200 | $2.6M | Add +34.6% |
| PHIN Phinia Inc. | 3.41% | 60,000 | $2.5M | Add +20.0% |
| PAM Pampa Energia SA-Spon ADR | 3.07% | 29,750 | $2.3M | Add +73.0% |
| UNF Unifirst Corp. | 2.79% | 12,000 | $2.1M | New |
| VLRS Controladora Vuela Cia-ADR | 2.45% | 350,600 | $1.8M | New |
| ASR Grupo Aeroportuario Sur-ADR | 2.42% | 6,600 | $1.8M | Reduce -47.1% |
| TGS Transportador Gas-ADR SP B | 2.24% | 63,200 | $1.7M | Add +5.9% |
| CROX Crocs Inc. | 2.13% | 15,000 | $1.6M | No change |
| XPOF Xponential Fitness Inc. Class A | 1.95% | 175,000 | $1.5M | No change |
| YMM Full Truck Alliance -SPN ADR | 1.73% | 101,000 | $1.3M | Reduce -73.0% |
| IMXI International Money Express | 1.69% | 100,000 | $1.3M | Add +33.3% |
| TCOM Trip.com Group Ltd.-ADR | 1.68% | 19,731 | $1.3M | Reduce -50.1% |
| SWIM Latham Group Inc. | 1.63% | 190,000 | $1.2M | Reduce -5.0% |
| LEGH Legacy Housing Corp. | 1.52% | 45,000 | $1.1M | Reduce -10.0% |
| GGAL Grupo Financiero Galicia-ADR | 1.51% | 20,791 | $1.1M | Add +95.4% |
| LEGN Legend Biotech Corp.-ADR | 1.50% | 33,100 | $1.1M | New |
| OMAB Grupo Aeroportuario Cen-ADR | 1.38% | 13,090 | $1.0M | Reduce -64.3% |
| FLYW Flywire Corp.-Voting | 1.27% | 100,000 | $950K | New |
| ALTG Alta Equipment Group Inc. | 1.25% | 200,000 | $938K | Reduce -4.4% |
| BZ Kanzhun Ltd. - ADR | 1.24% | 48,453 | $929K | Reduce -25.8% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 1.13% | 42,200 | $848K | Reduce -49.9% |
| MELI MercadoLibre Inc. | 1.04% | 400 | $780K | Reduce -20.0% |
| MNSO Miniso Group Holding Ltd.-ADR | 0.92% | 37,054 | $685K | Reduce -52.1% |
| HTHT H World Group Ltd.-ADR | 0.86% | 17,294 | $640K | Reduce -60.1% |
| AMTM Amentum Holdings Inc. | 0.79% | 32,500 | $592K | New |
| LEN Lennar Corp. Class A | 0.77% | 5,000 | $574K | New |
| BBD Banco Bradesco-ADR | 0.75% | 252,500 | $563K | New |
| BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A | 0.74% | 30,417 | $551K | Add +42.0% |
| HEPS D-Market Electronic Serv-ADR | 0.71% | 185,300 | $528K | Add +2.9% |
| ARKO Arko Corp. | 0.53% | 100,000 | $395K | New |
| BMA Banco Macro SA-ADR | 0.41% | 4,100 | $310K | New |
| EH Ehang Holdings Ltd.-SPS ADR | 0.39% | 14,000 | $292K | New |
Portfolio Sells Q4 2024 → Q1 2025
| SWI Solarwinds Corp. | Sold out | 0.00% | −3.72 |
| YMM Full Truck Alliance -SPN ADR | Reduce -73.0% | 1.73% | −2.96 |
| ABG Asbury Automotive Group | Sold out | 0.00% | −1.97 |
| OMAB Grupo Aeroportuario Cen-ADR | Reduce -64.3% | 1.38% | −1.54 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -50.1% | 1.68% | −1.47 |
| ASR Grupo Aeroportuario Sur-ADR | Reduce -47.1% | 2.42% | −1.31 |
| MNSO Miniso Group Holding Ltd.-ADR | Reduce -52.1% | 0.92% | −1.23 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −1.17 |
| PRKS United Parks & Resorts Inc. | Reduce -14.3% | 3.65% | −0.91 |
| EXTR Extreme Networks Inc. | Sold out | 0.00% | −0.90 |
| EDN Emp Distrib Y Comerc Nor-ADR | Sold out | 0.00% | −0.85 |
| HTHT H World Group Ltd.-ADR | Reduce -60.1% | 0.86% | −0.81 |
| BEKE Ke Holdings Inc.-ADR | Reduce -49.9% | 1.13% | −0.66 |
| BXC Bluelinx Holdings Inc. | Sold out | 0.00% | −0.59 |
| PAR Par Technology Corp. | Reduce -7.1% | 5.33% | −0.56 |
| ALTG Alta Equipment Group Inc. | Reduce -4.4% | 1.25% | −0.33 |
| GFF Griffon Corp. | Reduce -20.0% | 3.83% | −0.30 |
| RTO Rentokil Initial PLC-SP ADR | Reduce -9.4% | 4.44% | −0.25 |
| SWIM Latham Group Inc. | Reduce -5.0% | 1.63% | +0.02 |
| MELI MercadoLibre Inc. | Reduce -20.0% | 1.04% | +0.06 |
| LEGH Legacy Housing Corp. | Reduce -10.0% | 1.52% | +0.09 |
| BZ Kanzhun Ltd. - ADR | Reduce -25.8% | 1.24% | +0.20 |
| CX Cemex Sab-Spons ADR Part Cer | Reduce -5.0% | 4.17% | +0.35 |
| FMX Fomento Economico Mex-SP ADR | Reduce -5.9% | 8.34% | +1.61 |
| PDD PDD Holdings Inc. | Reduce -9.2% | 8.64% | +1.89 |
Portfolio Buys Q4 2024 → Q1 2025
| UNF Unifirst Corp. | New | 2.79% | +2.79 |
| VLRS Controladora Vuela Cia-ADR | New | 2.45% | +2.45 |
| LEGN Legend Biotech Corp.-ADR | New | 1.50% | +1.50 |
| PAC Grupo Aeroportuario Pac-ADR | Add +34.6% | 3.52% | +1.38 |
| PAM Pampa Energia SA-Spon ADR | Add +73.0% | 3.07% | +1.32 |
| FLYW Flywire Corp.-Voting | New | 1.27% | +1.27 |
| AMTM Amentum Holdings Inc. | New | 0.79% | +0.79 |
| LEN Lennar Corp. Class A | New | 0.77% | +0.77 |
| BBD Banco Bradesco-ADR | New | 0.75% | +0.75 |
| GGAL Grupo Financiero Galicia-ADR | Add +95.4% | 1.51% | +0.75 |
| PHIN Phinia Inc. | Add +20.0% | 3.41% | +0.61 |
| AMX America Movil Sab DE CV | Add +1.6% | 4.19% | +0.59 |
| ARKO Arko Corp. | New | 0.53% | +0.53 |
| BMA Banco Macro SA-ADR | New | 0.41% | +0.41 |
| EH Ehang Holdings Ltd.-SPS ADR | New | 0.39% | +0.39 |
| BBAR Bbva Argentina SA-ADR | Add +42.0% | 0.74% | +0.26 |
| TGS Transportador Gas-ADR SP B | Add +5.9% | 2.24% | +0.21 |
| HEPS D-Market Electronic Serv-ADR | Add +2.9% | 0.71% | +0.07 |
| IMXI International Money Express | Add +33.3% | 1.69% | −0.12 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 0 | $0 | |
| Q1 2026 | 109 | $130.9M | CX, PDD, FMX, PAM, KSPI |
| Q4 2025 | 36 | $84.1M | FMX, PDD, CX, AMX, PAR |
| Q3 2025 | 29 | $69.9M | FMX, PDD, FLYW, FIVN, PRKS |
| Q2 2025 | 33 | $62.9M | FMX, YMM, PAR, FLYW, PHIN |
| Q1 2025 | 42 | $74.8M | PDD, FMX, PAR, RTO, EEFT |
| Q4 2024 | 38 | $86.3M | PDD, FMX, PAR, RTO, YMM |
| Q3 2024 | 39 | $89.8M | PDD, FMX, AMX, YMM, GFF |
| Q2 2024 | 39 | $89.0M | FMX, PDD, AMX, RCM, CX |
| Q1 2024 | 42 | $102.1M | FMX, AMX, MELI, CX, RCM |