In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Fund 1 Investments, LLC reported 43 stock positions worth $590.8 million . Its top holding was Tile Shop (TTSH) at 13.9% of the portfolio, followed by Bj's Restaurants (BJRI, 13.1% ) and Citi Trends (CTRN, 9.6% ). Compared with Q4 2024, it opened 17 new positions, sold out of 31, added to 11 and reduced 10. The biggest buy was a new position in National Vision (EYE) and the biggest sale an exit from Signet Jewelers (SIG).
Location RINCON, PR
CIK 0001959730
Portfolio Value $590.8M (Q1 2025) Holdings 43 stocks · $590.8M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 TTSH Tile Shop Hldgs Inc. 12,712,561 $82.4M Add +13.2% BJRI Bj's Restaurants Inc. 2,261,396 $77.5M Add +0.5% CTRN Citi Trends Inc. 2,573,486 $57.0M No change CURV Torrid Holdings Inc. 9,282,386 $50.9M Add +52.7% FLWS 1-800-Flowers.com Inc. Class A 8,180,469 $48.3M Add +96.0% EYE National Vision Holdings Inc. 2,758,827 $35.3M New FNKO Funko Inc. Class A 4,707,732 $32.3M Add +29.4% NVRI Enviri Corp. 3,691,128 $24.5M New GCO Genesco Inc. 1,097,850 $23.3M Add +351.9% ZUMZ Zumiez Inc. 1,322,726 $19.7M Add +203.4% SFIX Stitch Fix Inc. Class A 5,878,920 $19.1M Add +466.3% TLYS Tilly's Inc. Class A SHRS 8,174,879 $18.0M No change RH RH 70,300 $16.5M Add +143.3% JILL J. Jill Inc. 762,463 $14.9M Add +155.5% VSXY Victoria's Secret & Co. 706,585 $13.1M New PAR Par Technology Corp. 206,985 $12.7M No change DXLG Destination XL Group Inc. 5,758,261 $8.4M No change SOLV Solventum Corp. 96,339 $7.3M New VRA Vera Bradley Inc. 2,783,155 $6.3M No change MDB Mongodb Inc. 35,500 $6.2M New LOCO El Pollo Loco Holdings Inc. 766,705 $4.5M Reduce -47.3% INDV Indivior Ltd. 427,439 $4.1M Reduce -39.7% WEN The Wendy's Co. 215,000 $3.1M New DBI Designer Brands Inc. Class A 335,665 $1.2M Reduce -74.3% DKS Dick's Sporting Goods Inc. 5,000 $1.0M New VSTS Vestis Corp. 100,000 $990K New NTGR Netgear Inc. 40,000 $978K New AZO AutoZone Inc. 35 $133K New BFAM Bright Horizons Family Solut 941 $120K Reduce -57.0% CBRL Cracker Barrel Old Country 3,000 $116K New FOSL Fossil Group Inc. 100,621 $116K Reduce -74.1% MA Mastercard Inc. Class A 200 $110K Reduce -68.0% UBER Uber Technologies Inc. 1,500 $109K New BBWI Bath & Body Works Inc. 3,500 $106K Add +40.0% SGI Somnigroup International Inc. 1,500 $90K New AMZN Amazon.com Inc. 400 $76K Reduce -70.9% ULTA Ulta Beauty Inc. 200 $73K New KR Kroger Co. 1,000 $68K Reduce -70.9% SHAK Shake Shack Inc. Class A 600 $53K New VIK Viking Holdings Ltd. 1,000 $40K Reduce -78.7% SBUX Starbucks Corp. 400 $39K New TPR Tapestry Inc. 500 $35K Reduce -99.9% MCD McDonald's Corp. 100 $31K New
Options reported separately and not counted above: SPY puts ($447.3M), QQQ puts ($422.0M), XNTK puts ($310.9M), OEF puts ($249.4M), AAP calls ($41.2M), WEN calls ($36.6M), RH calls ($23.4M), EYE calls ($21.7M), VSXY calls ($21.4M), BBWI calls ($18.2M), BOOT calls ($10.7M), RACE puts ($10.7M), and 7 more.
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ SIG Signet Jewelers Ltd. Sold out 0.00% −5.35 TPR Tapestry Inc. Reduce -99.9% 0.01% −4.58 FIVE Five Below Sold out 0.00% −4.41 CROX Crocs Inc. Sold out 0.00% −2.53 LBTYA Liberty Global Ltd. Class A Sold out 0.00% −2.43 LEVI Levi Strauss & Co. Class A Sold out 0.00% −1.63 LOCO El Pollo Loco Holdings Inc. Reduce -47.3% 0.76% −1.55 GAP The Gap Inc. Sold out 0.00% −1.33 PLAY Dave & Buster's Entertainmen Sold out 0.00% −1.13 BLMN Bloomin' Brands Inc. Sold out 0.00% −1.08 DLTR Dollar Tree Inc. Sold out 0.00% −0.97 PTON Peloton Interactive Inc. Class A Sold out 0.00% −0.95 MELI MercadoLibre Inc. Sold out 0.00% −0.93 M Macy's Inc. Sold out 0.00% −0.88 NFLX Netflix Inc. Sold out 0.00% −0.80 DBI Designer Brands Inc. Class A Reduce -74.3% 0.21% −0.75 GRND Grindr Inc. Sold out 0.00% −0.73 NVDA Nvidia Corp. Sold out 0.00% −0.70 ASO Academy Sports & Outdoors Inc. Sold out 0.00% −0.68 UPWK Upwork Inc. Sold out 0.00% −0.64 INDV Indivior Ltd. Reduce -39.7% 0.69% −0.52 VNCE Vince Holding Corp. Sold out 0.00% −0.20 TSVT 2SEVENTY Bio Inc. Sold out 0.00% −0.14 FOSL Fossil Group Inc. Reduce -74.1% 0.02% −0.07 ROST Ross Stores Inc. Sold out 0.00% −0.04 SKX Skechers USA Inc. Class A Sold out 0.00% −0.03 CMG Chipotle Mexican Grill Inc. Sold out 0.00% −0.03 ANF Abercrombie & Fitch Co. Class A Sold out 0.00% −0.03 IT Gartner Inc. Sold out 0.00% −0.03 AMZN Amazon.com Inc. Reduce -70.9% 0.01% −0.03 WSO Watsco Inc. Sold out 0.00% −0.03 MA Mastercard Inc. Class A Reduce -68.0% 0.02% −0.03 ACN Accenture PLC Class A Sold out 0.00% −0.02 NDAQ Nasdaq Inc. Sold out 0.00% −0.02 EAT Brinker International Inc. Sold out 0.00% −0.02 ORLY O'reilly Automotive Inc. Sold out 0.00% −0.02 VIK Viking Holdings Ltd. Reduce -78.7% 0.01% −0.02 SG Sweetgreen Inc. Class A Sold out 0.00% −0.02 KR Kroger Co. Reduce -70.9% 0.01% −0.02 BFAM Bright Horizons Family Solut Reduce -57.0% 0.02% −0.01 PTLO Portillo's Inc. Class A Sold out 0.00% −0.01
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ EYE National Vision Holdings Inc. New 5.97% +5.97 CURV Torrid Holdings Inc. Add +52.7% 8.61% +4.25 NVRI Enviri Corp. New 4.15% +4.15 FLWS 1-800-Flowers.com Inc. Class A Add +96.0% 8.17% +3.49 TTSH Tile Shop Hldgs Inc. Add +13.2% 13.94% +3.27 SFIX Stitch Fix Inc. Class A Add +466.3% 3.23% +2.62 GCO Genesco Inc. Add +351.9% 3.95% +2.52 BJRI Bj's Restaurants Inc. Add +0.5% 13.11% +2.26 VSXY Victoria's Secret & Co. New 2.22% +2.22 ZUMZ Zumiez Inc. Add +203.4% 3.33% +2.19 JILL J. Jill Inc. Add +155.5% 2.52% +1.39 SOLV Solventum Corp. New 1.24% +1.24 RH RH Add +143.3% 2.79% +1.23 MDB Mongodb Inc. New 1.05% +1.05 WEN The Wendy's Co. New 0.53% +0.53 DKS Dick's Sporting Goods Inc. New 0.17% +0.17 VSTS Vestis Corp. New 0.17% +0.17 NTGR Netgear Inc. New 0.17% +0.17 AZO AutoZone Inc. New 0.02% +0.02 CBRL Cracker Barrel Old Country New 0.02% +0.02 UBER Uber Technologies Inc. New 0.02% +0.02 SGI Somnigroup International Inc. New 0.02% +0.02 ULTA Ulta Beauty Inc. New 0.01% +0.01 SHAK Shake Shack Inc. Class A New 0.01% +0.01 SBUX Starbucks Corp. New 0.01% +0.01 MCD McDonald's Corp. New 0.01% +0.01 BBWI Bath & Body Works Inc. Add +40.0% 0.02% +0.00 FNKO Funko Inc. Class A Add +29.4% 5.47% −1.22
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Add +869.7% 800,000 $447.3M QQQ Invesco QQQ Trust Series 1 put Add +542.9% 900,000 $422.0M XNTK SS SPDR Nyse Tech ETF put Add +889.0% 4,500,000 $310.9M OEF iShares S&P 100 ETF put New 1,250,000 $249.4M OEF iShares S&P 100 ETF call Sold out 922,700 $203.9Mbefore exit AAP Advance Auto Parts Inc. call New 1,050,000 $41.2M WEN The Wendy's Co. call New 2,500,000 $36.6M RH RH call New 100,000 $23.4M EYE National Vision Holdings Inc. call New 1,700,000 $21.7M VSXY Victoria's Secret & Co. call New 1,150,000 $21.4M FIVE Five Below call Sold out 190,000 $19.9Mbefore exit BBWI Bath & Body Works Inc. call New 600,000 $18.2M BOOT Boot Barn Holdings Inc. call New 100,000 $10.7M RACE Ferrari NV put New 25,000 $10.7M SIG Signet Jewelers Ltd. call Add +12.4% 150,000 $8.7M DBI Designer Brands Inc. Class A call Add +186.7% 2,150,000 $7.8M LBTYA Liberty Global Ltd. Class A call Sold out 500,000 $6.4Mbefore exit AEO American Eagle Outfitters call New 500,000 $5.8M CURV Torrid Holdings Inc. call Sold out 800,000 $4.2Mbefore exit FNKO Funko Inc. Class A call Reduce -62.3% 500,000 $3.4M HLF Herbalife Ltd. call Sold out 500,000 $3.3Mbefore exit SFIX Stitch Fix Inc. Class A call Add +100.0% 1,000,000 $3.3M PTON Peloton Interactive Inc. Class A call New 500,000 $3.2M PLAY Dave & Buster's Entertainmen call Sold out 100,000 $2.9Mbefore exit VSTS Vestis Corp. call New 30,000 $297K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 45 $568.8M CTRN, JMIA, TLYS, FNKO, GO Q1 2026 62 $768.3M CTRN, JMIA, CELH, VFC, RDDT Q4 2025 49 $690.8M JMIA, CTRN, NVRI, CELH, RDDT Q3 2025 53 $814.8M NVRI, CTRN, TTSH, JMIA, FLWS Q2 2025 48 $705.1M CTRN, TTSH, NVRI, FLWS, SFIX Q1 2025 43 $590.8M TTSH, BJRI, CTRN, CURV, FLWS Q4 2024 57 $728.8M BJRI, TTSH, CTRN, FNKO, SIG Q3 2024 58 $641.1M LBTYA, BJRI, TTSH, CTRN, TLYS Q2 2024 55 $724.0M BJRI, TTSH, CTRN, LBTYA, HIBB Q1 2024 39 $614.7M BJRI, HIBB, TPR, TLYS, TTSH