In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Fund 1 Investments, LLC reported 48 stock positions worth $705.1 million . Its top holding was Citi Trends (CTRN) at 12.2% of the portfolio, followed by Tile Shop (TTSH, 11.6% ) and Enviri (NVRI, 8.8% ). Compared with Q1 2025, it opened 26 new positions, sold out of 21, added to 11 and reduced 6. The biggest buy was Enviri (NVRI, shares +94% ) and the biggest sale Bj's Restaurants (BJRI, shares −85% ).
Location RINCON, PR
CIK 0001959730
Portfolio Value $705.1M (Q2 2025) Holdings 48 stocks · $705.1M 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 Q1 2025 CTRN Citi Trends Inc. 2,573,486 $85.9M No change TTSH Tile Shop Hldgs Inc. 12,859,012 $81.8M Add +1.1% NVRI Enviri Corp. 7,174,443 $62.3M Add +94.4% FLWS 1-800-Flowers.com Inc. Class A 9,527,250 $46.9M Add +16.5% SFIX Stitch Fix Inc. Class A 9,943,821 $36.8M Add +69.1% CURV Torrid Holdings Inc. 10,433,112 $30.8M Add +12.4% U Unity Software Inc. 1,222,119 $29.6M New EYE National Vision Holdings Inc. 1,091,910 $25.1M Reduce -60.4% FNKO Funko Inc. Class A 4,773,887 $22.7M Add +1.4% GAP The Gap Inc. 1,016,301 $22.2M New GCO Genesco Inc. 1,074,472 $21.2M Reduce -2.1% MU Micron Technology Inc. 166,000 $20.5M New RDDT Reddit Inc. Class A 125,735 $18.9M New BBWI Bath & Body Works Inc. 598,416 $17.9M Add +16997.6% BJRI Bj's Restaurants Inc. 339,982 $15.2M Reduce -85.0% PAR Par Technology Corp. 206,985 $14.4M No change JILL J. Jill Inc. 936,248 $13.7M Add +22.8% VYX NCR Voyix Corp. 1,000,996 $11.7M New AVBP Arrivent Biopharma Inc. 528,395 $11.5M New TLYS Tilly's Inc. Class A SHRS 8,174,879 $11.3M No change CROX Crocs Inc. 84,671 $8.6M New HLF Herbalife Ltd. 985,000 $8.5M New RH RH 42,160 $8.0M Reduce -40.0% JMIA Jumia Technologies AG-ADR 1,693,299 $6.8M New CELH Celsius Holdings Inc. 146,500 $6.8M New ZUMZ Zumiez Inc. 495,557 $6.6M Reduce -62.5% DXLG Destination XL Group Inc. 5,758,261 $6.4M No change VRA Vera Bradley Inc. 2,783,155 $6.2M No change FIVE Five Below 45,500 $6.0M New SIG Signet Jewelers Ltd. 54,791 $4.4M New RKT Rocket Cos Inc. Class A 278,000 $3.9M New AMD Advanced Micro Devices 25,000 $3.5M New BABA Alibaba Group Holding-SP ADR 30,000 $3.4M New SN Sharkninja Inc. 30,000 $3.0M New RELY Remitly Global Inc. 157,500 $3.0M New NGVT Ingevity Corp. 54,770 $2.4M New TPR Tapestry Inc. 25,800 $2.3M Add +5060.0% LOCO El Pollo Loco Holdings Inc. 189,444 $2.1M Reduce -75.3% NTGR Netgear Inc. 71,615 $2.1M Add +79.0% WWW Wolverine World Wide Inc. 108,925 $2.0M New BZH Beazer Homes USA Inc. 87,012 $1.9M New SWIM Latham Group Inc. 250,824 $1.6M New TEM Tempus AI Inc. Class A 25,000 $1.6M New NXH Neighborhood Intelligence Inc. filed as BEYOND INC 172,119 $1.2M New JOE The St Joe Co. 21,649 $1.0M New SHOO Steven Madden Ltd. filed as MADDEN STEVEN LTD 30,000 $719K New CAL Caleres Inc. 56,116 $686K New FOSL Fossil Group Inc. 270,034 $400K Add +168.4%
Options reported separately and not counted above: QQQ puts ($182.0M), SPY puts ($125.1M), XRT puts ($115.6M), EYE calls ($49.4M), IWM puts ($27.0M), BBWI calls ($13.2M), GAP calls ($6.5M), JMIA calls ($6.4M), NVRI calls ($4.3M), MU calls ($2.5M), DBI calls ($2.4M).
Portfolio Sells Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▲ BJRI Bj's Restaurants Inc. Reduce -85.0% 2.15% −10.96 EYE National Vision Holdings Inc. Reduce -60.4% 3.56% −2.40 ZUMZ Zumiez Inc. Reduce -62.5% 0.93% −2.40 VSXY Victoria's Secret & Co. Sold out 0.00% −2.22 RH RH Reduce -40.0% 1.13% −1.66 SOLV Solventum Corp. Sold out 0.00% −1.24 MDB Mongodb Inc. Sold out 0.00% −1.05 GCO Genesco Inc. Reduce -2.1% 3.00% −0.94 INDV Indivior Ltd. Sold out 0.00% −0.69 WEN The Wendy's Co. Sold out 0.00% −0.53 LOCO El Pollo Loco Holdings Inc. Reduce -75.3% 0.30% −0.46 DBI Designer Brands Inc. Class A Sold out 0.00% −0.21 DKS Dick's Sporting Goods Inc. Sold out 0.00% −0.17 VSTS Vestis Corp. Sold out 0.00% −0.17 AZO AutoZone Inc. Sold out 0.00% −0.02 BFAM Bright Horizons Family Solut Sold out 0.00% −0.02 CBRL Cracker Barrel Old Country Sold out 0.00% −0.02 MA Mastercard Inc. Class A Sold out 0.00% −0.02 UBER Uber Technologies Inc. Sold out 0.00% −0.02 SGI Somnigroup International Inc. Sold out 0.00% −0.02 AMZN Amazon.com Inc. Sold out 0.00% −0.01 ULTA Ulta Beauty Inc. Sold out 0.00% −0.01 KR Kroger Co. Sold out 0.00% −0.01 SHAK Shake Shack Inc. Class A Sold out 0.00% −0.01 VIK Viking Holdings Ltd. Sold out 0.00% −0.01 SBUX Starbucks Corp. Sold out 0.00% −0.01 MCD McDonald's Corp. Sold out 0.00% −0.01
Portfolio Buys Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▼ NVRI Enviri Corp. Add +94.4% 8.83% +4.68 U Unity Software Inc. New 4.19% +4.19 GAP The Gap Inc. New 3.14% +3.14 MU Micron Technology Inc. New 2.90% +2.90 RDDT Reddit Inc. Class A New 2.69% +2.69 BBWI Bath & Body Works Inc. Add +16997.6% 2.54% +2.52 SFIX Stitch Fix Inc. Class A Add +69.1% 5.22% +1.98 VYX NCR Voyix Corp. New 1.67% +1.67 AVBP Arrivent Biopharma Inc. New 1.63% +1.63 CROX Crocs Inc. New 1.22% +1.22 HLF Herbalife Ltd. New 1.20% +1.20 JMIA Jumia Technologies AG-ADR New 0.97% +0.97 CELH Celsius Holdings Inc. New 0.96% +0.96 FIVE Five Below New 0.85% +0.85 SIG Signet Jewelers Ltd. New 0.62% +0.62 RKT Rocket Cos Inc. Class A New 0.56% +0.56 AMD Advanced Micro Devices New 0.50% +0.50 BABA Alibaba Group Holding-SP ADR New 0.48% +0.48 SN Sharkninja Inc. New 0.42% +0.42 RELY Remitly Global Inc. New 0.42% +0.42 NGVT Ingevity Corp. New 0.33% +0.33 TPR Tapestry Inc. Add +5060.0% 0.32% +0.32 WWW Wolverine World Wide Inc. New 0.28% +0.28 BZH Beazer Homes USA Inc. New 0.28% +0.28 SWIM Latham Group Inc. New 0.23% +0.23 TEM Tempus AI Inc. Class A New 0.23% +0.23 NXH Neighborhood Intelligence Inc. New 0.17% +0.17 JOE The St Joe Co. New 0.15% +0.15 NTGR Netgear Inc. Add +79.0% 0.30% +0.13 SHOO Steven Madden Ltd. New 0.10% +0.10 CAL Caleres Inc. New 0.10% +0.10 FOSL Fossil Group Inc. Add +168.4% 0.06% +0.04 JILL J. Jill Inc. Add +22.8% 1.94% −0.58 FLWS 1-800-Flowers.com Inc. Class A Add +16.5% 6.65% −1.52 FNKO Funko Inc. Class A Add +1.4% 3.22% −2.24 TTSH Tile Shop Hldgs Inc. Add +1.1% 11.60% −2.34 CURV Torrid Holdings Inc. Add +12.4% 4.37% −4.25
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ XNTK SS SPDR Nyse Tech ETF put Sold out 4,500,000 $310.9Mbefore exit OEF iShares S&P 100 ETF put Sold out 1,250,000 $249.4Mbefore exit QQQ Invesco QQQ Trust Series 1 put Reduce -63.3% 330,000 $182.0M SPY SS SPDR S&P 500 ETF Trust-US put Reduce -74.7% 202,500 $125.1M XRT SS SPDR S&P Retail ETF put New 1,500,000 $115.6M EYE National Vision Holdings Inc. call Add +26.4% 2,148,800 $49.4M AAP Advance Auto Parts Inc. call Sold out 1,050,000 $41.2Mbefore exit WEN The Wendy's Co. call Sold out 2,500,000 $36.6Mbefore exit IWM iShares Russell 2000 ETF put New 125,000 $27.0M RH RH call Sold out 100,000 $23.4Mbefore exit VSXY Victoria's Secret & Co. call Sold out 1,150,000 $21.4Mbefore exit BBWI Bath & Body Works Inc. call Reduce -26.7% 440,000 $13.2M BOOT Boot Barn Holdings Inc. call Sold out 100,000 $10.7Mbefore exit RACE Ferrari NV put Sold out 25,000 $10.7Mbefore exit SIG Signet Jewelers Ltd. call Sold out 150,000 $8.7Mbefore exit GAP The Gap Inc. call New 300,000 $6.5M JMIA Jumia Technologies AG-ADR call New 1,600,000 $6.4M AEO American Eagle Outfitters call Sold out 500,000 $5.8Mbefore exit NVRI Enviri Corp. call New 500,000 $4.3M FNKO Funko Inc. Class A call Sold out 500,000 $3.4Mbefore exit SFIX Stitch Fix Inc. Class A call Sold out 1,000,000 $3.3Mbefore exit PTON Peloton Interactive Inc. Class A call Sold out 500,000 $3.2Mbefore exit MU Micron Technology Inc. call New 20,000 $2.5M DBI Designer Brands Inc. Class A call Reduce -53.5% 1,000,000 $2.4M VSTS Vestis Corp. call Sold out 30,000 $297Kbefore exit
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