ABS Direct Equity Fund LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 9, 2025), ABS Direct Equity Fund LLC reported 29 stock positions worth $69.9 million. Its top holding was Fomento Economico Mex-SP ADR (FMX) at 12.7% of the portfolio, followed by PDD (PDD, 8.1%) and Flywire Corp.-Voting (FLYW, 6.3%). Compared with Q2 2025, it opened 4 new positions, sold out of 8, added to 14 and reduced 8. The biggest buy was a new position in Grupo Aeroportuario Sur-ADR (ASR) and the biggest sale Full Truck Alliance -SPN ADR (YMM, shares −45%).
- Most Recent 13F
- Q2 2026
- Location
- STAMFORD, CT
- CIK
- 0001729347
- Portfolio Value
- $69.9M (Q3 2025)
- SEC Filing
- 0001999371-25-015067 ↗ filed Oct 9, 2025
Holdings Value
Holdings 29 stocks · $69.9M
| FMX Fomento Economico Mex-SP ADR | 12.73% | 90,250 | $8.9M | Add +37.6% |
| PDD PDD Holdings Inc. | 8.13% | 43,033 | $5.7M | Add +78.6% |
| FLYW Flywire Corp.-Voting | 6.29% | 325,000 | $4.4M | Add +18.2% |
| FIVN FIVE9 Inc. | 5.19% | 150,000 | $3.6M | Add +50.0% |
| PRKS United Parks & Resorts Inc. | 5.18% | 70,000 | $3.6M | Add +7.7% |
| ASR Grupo Aeroportuario Sur-ADR | 5.15% | 11,140 | $3.6M | New |
| YMM Full Truck Alliance -SPN ADR | 5.06% | 272,619 | $3.5M | Reduce -45.1% |
| EEFT Euronet Worldwide Inc. | 5.02% | 40,000 | $3.5M | Add +33.3% |
| PAC Grupo Aeroportuario Pac-ADR | 4.88% | 14,380 | $3.4M | Add +76.4% |
| GFF Griffon Corp. | 4.36% | 40,000 | $3.0M | Add +33.3% |
| PAR Par Technology Corp. | 4.24% | 75,000 | $3.0M | Add +25.0% |
| PHIN Phinia Inc. | 4.11% | 50,000 | $2.9M | Reduce -28.6% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 4.00% | 34,283 | $2.8M | Add +15.4% |
| POWL Powell Industries Inc. | 3.27% | 7,500 | $2.3M | New |
| KOF Coca-Cola Femsa Sab-SP ADR | 2.25% | 18,900 | $1.6M | Add +146.9% |
| PAM Pampa Energia SA-Spon ADR | 2.01% | 23,350 | $1.4M | Reduce -6.8% |
| XPOF Xponential Fitness Inc. Class A | 1.95% | 175,000 | $1.4M | No change |
| OMAB Grupo Aeroportuario Cen-ADR | 1.92% | 12,900 | $1.3M | Reduce -5.8% |
| GGAL Grupo Financiero Galicia-ADR | 1.85% | 47,030 | $1.3M | Add +70.1% |
| BMA Banco Macro SA-ADR | 1.85% | 30,550 | $1.3M | Add +726.8% |
| ALTG Alta Equipment Group Inc. | 1.81% | 175,000 | $1.3M | Reduce -12.5% |
| AVTR Avantor Inc. | 1.78% | 100,000 | $1.2M | New |
| VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP | 1.65% | 40,800 | $1.2M | Add +95.2% |
| LEGN Legend Biotech Corp.-ADR | 1.54% | 33,100 | $1.1M | No change |
| AIOT Powerfleet Inc. | 1.04% | 139,000 | $728K | Reduce -7.3% |
| LEGH Legacy Housing Corp. | 0.98% | 25,000 | $688K | Reduce -37.5% |
| HEPS D-Market Electronic Serv-ADR | 0.71% | 185,300 | $498K | No change |
| SWIM Latham Group Inc. | 0.54% | 50,000 | $381K | Reduce -80.0% |
| AMX America Movil Sab DE CV | 0.50% | 16,600 | $349K | New |
Portfolio Sells Q2 2025 → Q3 2025
| YMM Full Truck Alliance -SPN ADR | Reduce -45.1% | 5.06% | −4.27 |
| CX Cemex Sab-Spons ADR Part Cer | Sold out | 0.00% | −3.19 |
| TGS Transportador Gas-ADR SP B | Sold out | 0.00% | −2.87 |
| SWIM Latham Group Inc. | Reduce -80.0% | 0.54% | −1.99 |
| CROX Crocs Inc. | Sold out | 0.00% | −1.61 |
| IMXI International Money Express | Sold out | 0.00% | −1.60 |
| VIST Vista Energy Sab DE CV | Sold out | 0.00% | −1.52 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −1.25 |
| PHIN Phinia Inc. | Reduce -28.6% | 4.11% | −0.84 |
| PAM Pampa Energia SA-Spon ADR | Reduce -6.8% | 2.01% | −0.76 |
| BBAR Bbva Argentina SA-ADR | Sold out | 0.00% | −0.72 |
| RTO Rentokil Initial PLC-SP ADR | Sold out | 0.00% | −0.57 |
| LEGH Legacy Housing Corp. | Reduce -37.5% | 0.98% | −0.46 |
| OMAB Grupo Aeroportuario Cen-ADR | Reduce -5.8% | 1.92% | −0.38 |
| ALTG Alta Equipment Group Inc. | Reduce -12.5% | 1.81% | −0.20 |
| AIOT Powerfleet Inc. | Reduce -7.3% | 1.04% | +0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| ASR Grupo Aeroportuario Sur-ADR | New | 5.15% | +5.15 |
| PDD PDD Holdings Inc. | Add +78.6% | 8.13% | +4.12 |
| POWL Powell Industries Inc. | New | 3.27% | +3.27 |
| FMX Fomento Economico Mex-SP ADR | Add +37.6% | 12.73% | +1.99 |
| PAC Grupo Aeroportuario Pac-ADR | Add +76.4% | 4.88% | +1.90 |
| AVTR Avantor Inc. | New | 1.78% | +1.78 |
| BMA Banco Macro SA-ADR | Add +726.8% | 1.85% | +1.44 |
| FLYW Flywire Corp.-Voting | Add +18.2% | 6.29% | +1.18 |
| KOF Coca-Cola Femsa Sab-SP ADR | Add +146.9% | 2.25% | +1.07 |
| FIVN FIVE9 Inc. | Add +50.0% | 5.19% | +0.98 |
| GFF Griffon Corp. | Add +33.3% | 4.36% | +0.90 |
| VTMX Corp. Inmobiliaria Vesta-ADR | Add +95.2% | 1.65% | +0.74 |
| AMX America Movil Sab DE CV | New | 0.50% | +0.50 |
| PRKS United Parks & Resorts Inc. | Add +7.7% | 5.18% | +0.30 |
| EEFT Euronet Worldwide Inc. | Add +33.3% | 5.02% | +0.19 |
| KSPI JSC Kaspi.kz ADR | Add +15.4% | 4.00% | −0.01 |
| GGAL Grupo Financiero Galicia-ADR | Add +70.1% | 1.85% | −0.36 |
| PAR Par Technology Corp. | Add +25.0% | 4.24% | −2.37 |
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 |