ABS Direct Equity Fund LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 16, 2025), ABS Direct Equity Fund LLC reported 33 stock positions worth $62.9 million. Its top holding was Fomento Economico Mex-SP ADR (FMX) at 10.7% of the portfolio, followed by Full Truck Alliance -SPN ADR (YMM, 9.3%) and Par Technology (PAR, 6.6%). Compared with Q1 2025, it opened 5 new positions, sold out of 14, added to 9 and reduced 12. The biggest buy was Full Truck Alliance -SPN ADR (YMM, shares +392%) and the biggest sale PDD (PDD, shares −56%).
- Most Recent 13F
- Q2 2026
- Location
- STAMFORD, CT
- CIK
- 0001729347
- Portfolio Value
- $62.9M (Q2 2025)
- SEC Filing
- 0001999371-25-009245 ↗ filed Jul 16, 2025
Holdings Value
Holdings 33 stocks · $62.9M
| FMX Fomento Economico Mex-SP ADR | 10.74% | 65,600 | $6.8M | Add +2.7% |
| YMM Full Truck Alliance -SPN ADR | 9.32% | 496,480 | $5.9M | Add +391.6% |
| PAR Par Technology Corp. | 6.62% | 60,000 | $4.2M | Reduce -7.7% |
| FLYW Flywire Corp.-Voting | 5.12% | 275,000 | $3.2M | Add +175.0% |
| PHIN Phinia Inc. | 4.95% | 70,000 | $3.1M | Add +16.7% |
| PRKS United Parks & Resorts Inc. | 4.87% | 65,000 | $3.1M | Add +8.3% |
| EEFT Euronet Worldwide Inc. | 4.84% | 30,000 | $3.0M | No change |
| FIVN FIVE9 Inc. | 4.21% | 100,000 | $2.6M | New |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 4.01% | 29,713 | $2.5M | No change |
| PDD PDD Holdings Inc. | 4.01% | 24,099 | $2.5M | Reduce -55.9% |
| GFF Griffon Corp. | 3.45% | 30,000 | $2.2M | Reduce -25.0% |
| CX Cemex Sab-Spons ADR Part Cer | 3.19% | 289,900 | $2.0M | Reduce -47.8% |
| PAC Grupo Aeroportuario Pac-ADR | 2.98% | 8,150 | $1.9M | Reduce -42.6% |
| TGS Transportador Gas-ADR SP B | 2.87% | 69,658 | $1.8M | Add +10.2% |
| PAM Pampa Energia SA-Spon ADR | 2.76% | 25,054 | $1.7M | Reduce -15.8% |
| SWIM Latham Group Inc. | 2.54% | 250,000 | $1.6M | Add +31.6% |
| OMAB Grupo Aeroportuario Cen-ADR | 2.30% | 13,700 | $1.4M | Add +4.7% |
| GGAL Grupo Financiero Galicia-ADR | 2.22% | 27,648 | $1.4M | Add +33.0% |
| XPOF Xponential Fitness Inc. Class A | 2.08% | 175,000 | $1.3M | No change |
| ALTG Alta Equipment Group Inc. | 2.01% | 200,000 | $1.3M | No change |
| LEGN Legend Biotech Corp.-ADR | 1.87% | 33,100 | $1.2M | No change |
| CROX Crocs Inc. | 1.61% | 10,000 | $1.0M | Reduce -33.3% |
| IMXI International Money Express | 1.60% | 100,000 | $1.0M | No change |
| VIST Vista Energy Sab DE CV | 1.52% | 20,000 | $956K | New |
| LEGH Legacy Housing Corp. | 1.44% | 40,000 | $906K | Reduce -11.1% |
| MELI MercadoLibre Inc. | 1.25% | 300 | $784K | Reduce -25.0% |
| KOF Coca-Cola Femsa Sab-SP ADR | 1.18% | 7,654 | $740K | New |
| AIOT Powerfleet Inc. | 1.03% | 150,000 | $647K | New |
| VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP | 0.91% | 20,900 | $572K | New |
| HEPS D-Market Electronic Serv-ADR | 0.80% | 185,300 | $500K | No change |
| BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A | 0.72% | 27,665 | $455K | Reduce -9.1% |
| RTO Rentokil Initial PLC-SP ADR | 0.57% | 15,000 | $360K | Reduce -89.7% |
| BMA Banco Macro SA-ADR | 0.41% | 3,695 | $259K | Reduce -9.9% |
Portfolio Sells Q1 2025 → Q2 2025
| PDD PDD Holdings Inc. | Reduce -55.9% | 4.01% | −4.63 |
| AMX America Movil Sab DE CV | Sold out | 0.00% | −4.19 |
| RTO Rentokil Initial PLC-SP ADR | Reduce -89.7% | 0.57% | −3.87 |
| UNF Unifirst Corp. | Sold out | 0.00% | −2.79 |
| VLRS Controladora Vuela Cia-ADR | Sold out | 0.00% | −2.45 |
| ASR Grupo Aeroportuario Sur-ADR | Sold out | 0.00% | −2.42 |
| TCOM Trip.com Group Ltd.-ADR | Sold out | 0.00% | −1.68 |
| BZ Kanzhun Ltd. - ADR | Sold out | 0.00% | −1.24 |
| BEKE Ke Holdings Inc.-ADR | Sold out | 0.00% | −1.13 |
| CX Cemex Sab-Spons ADR Part Cer | Reduce -47.8% | 3.19% | −0.97 |
| MNSO Miniso Group Holding Ltd.-ADR | Sold out | 0.00% | −0.92 |
| HTHT H World Group Ltd.-ADR | Sold out | 0.00% | −0.86 |
| AMTM Amentum Holdings Inc. | Sold out | 0.00% | −0.79 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −0.77 |
| BBD Banco Bradesco-ADR | Sold out | 0.00% | −0.75 |
| PAC Grupo Aeroportuario Pac-ADR | Reduce -42.6% | 2.98% | −0.55 |
| ARKO Arko Corp. | Sold out | 0.00% | −0.53 |
| CROX Crocs Inc. | Reduce -33.3% | 1.61% | −0.52 |
| EH Ehang Holdings Ltd.-SPS ADR | Sold out | 0.00% | −0.39 |
| GFF Griffon Corp. | Reduce -25.0% | 3.45% | −0.37 |
| PAM Pampa Energia SA-Spon ADR | Reduce -15.8% | 2.76% | −0.31 |
| LEGH Legacy Housing Corp. | Reduce -11.1% | 1.44% | −0.08 |
| BBAR Bbva Argentina SA-ADR | Reduce -9.1% | 0.72% | −0.01 |
| BMA Banco Macro SA-ADR | Reduce -9.9% | 0.41% | −0.00 |
| MELI MercadoLibre Inc. | Reduce -25.0% | 1.25% | +0.20 |
| PAR Par Technology Corp. | Reduce -7.7% | 6.62% | +1.28 |
Portfolio Buys Q1 2025 → Q2 2025
| YMM Full Truck Alliance -SPN ADR | Add +391.6% | 9.32% | +7.60 |
| FIVN FIVE9 Inc. | New | 4.21% | +4.21 |
| FLYW Flywire Corp.-Voting | Add +175.0% | 5.12% | +3.85 |
| FMX Fomento Economico Mex-SP ADR | Add +2.7% | 10.74% | +2.40 |
| PHIN Phinia Inc. | Add +16.7% | 4.95% | +1.55 |
| VIST Vista Energy Sab DE CV | New | 1.52% | +1.52 |
| PRKS United Parks & Resorts Inc. | Add +8.3% | 4.87% | +1.22 |
| KOF Coca-Cola Femsa Sab-SP ADR | New | 1.18% | +1.18 |
| AIOT Powerfleet Inc. | New | 1.03% | +1.03 |
| OMAB Grupo Aeroportuario Cen-ADR | Add +4.7% | 2.30% | +0.92 |
| VTMX Corp. Inmobiliaria Vesta-ADR | New | 0.91% | +0.91 |
| SWIM Latham Group Inc. | Add +31.6% | 2.54% | +0.90 |
| GGAL Grupo Financiero Galicia-ADR | Add +33.0% | 2.22% | +0.70 |
| TGS Transportador Gas-ADR SP B | Add +10.2% | 2.87% | +0.63 |
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 |