Fund 1 Investments, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Fund 1 Investments, LLC reported 53 stock positions worth $814.8 million. Its top holding was Enviri (NVRI) at 11.7% of the portfolio, followed by Citi Trends (CTRN, 9.8%) and Tile Shop (TTSH, 9.5%). Compared with Q2 2025, it opened 21 new positions, sold out of 16, added to 12 and reduced 11. The biggest buy was Jumia Technologies AG-ADR (JMIA, shares +289%) and the biggest sale an exit from Unity Software (U).
- Most Recent 13F
- Q2 2026
- Location
- RINCON, PR
- CIK
- 0001959730
- Portfolio Value
- $814.8M (Q3 2025)
- SEC Filing
- 0000929638-25-004301 ↗ filed Nov 14, 2025
Holdings Value
Holdings 53 stocks · $814.8M
| NVRI Enviri Corp. | 11.73% | 7,528,877 | $95.5M | Add +4.9% |
| CTRN Citi Trends Inc. | 9.80% | 2,573,486 | $79.9M | No change |
| TTSH Tile Shop Hldgs Inc. | 9.55% | 12,859,012 | $77.8M | No change |
| JMIA Jumia Technologies AG-ADR | 9.39% | 6,590,253 | $76.5M | Add +289.2% |
| FLWS 1-800-Flowers.com Inc. Class A | 5.38% | 9,527,250 | $43.8M | No change |
| RDDT Reddit Inc. Class A | 5.05% | 178,744 | $41.1M | Add +42.2% |
| AMD Advanced Micro Devices | 4.46% | 224,749 | $36.4M | Add +799.0% |
| BBWI Bath & Body Works Inc. | 3.88% | 1,227,622 | $31.6M | Add +105.2% |
| SFIX Stitch Fix Inc. Class A | 3.42% | 6,409,513 | $27.9M | Reduce -35.5% |
| GCO Genesco Inc. | 3.39% | 953,197 | $27.6M | Reduce -11.3% |
| TPR Tapestry Inc. | 2.49% | 178,950 | $20.3M | Add +593.6% |
| FNKO Funko Inc. Class A | 2.29% | 5,413,887 | $18.6M | Add +13.4% |
| MU Micron Technology Inc. | 2.15% | 104,690 | $17.5M | Reduce -36.9% |
| CURV Torrid Holdings Inc. | 2.11% | 9,814,856 | $17.2M | Reduce -5.9% |
| TLYS Tilly's Inc. Class A SHRS | 2.07% | 8,174,879 | $16.8M | No change |
| CROX Crocs Inc. | 2.04% | 199,230 | $16.6M | Add +135.3% |
| CELH Celsius Holdings Inc. | 1.76% | 248,853 | $14.3M | Add +69.9% |
| DOCN Digitalocean Holdings Inc. | 1.60% | 380,890 | $13.0M | New |
| RH RH | 1.48% | 59,500 | $12.1M | Add +41.1% |
| AVBP Arrivent Biopharma Inc. | 1.40% | 619,851 | $11.4M | Add +17.3% |
| JILL J. Jill Inc. | 1.18% | 560,104 | $9.6M | Reduce -40.2% |
| PAR Par Technology Corp. | 1.01% | 206,985 | $8.2M | No change |
| PCG P G & E Corp. | 1.00% | 539,000 | $8.1M | New |
| PLAY Dave & Buster's Entertainmen | 0.96% | 429,000 | $7.8M | New |
| DXLG Destination XL Group Inc. | 0.93% | 5,758,261 | $7.5M | No change |
| AMZN Amazon.com Inc. | 0.88% | 32,500 | $7.1M | New |
| BIDU Baidu Inc. - Spon ADR | 0.77% | 47,473 | $6.3M | New |
| SGHC Super Group SGHC Ltd. | 0.76% | 469,549 | $6.2M | New |
| TIGR Up Fintech Holding Ltd. - ADR | 0.69% | 527,911 | $5.6M | New |
| VRA Vera Bradley Inc. | 0.69% | 2,783,155 | $5.6M | No change |
| MCD McDonald's Corp. | 0.62% | 16,700 | $5.1M | New |
| BJRI Bj's Restaurants Inc. | 0.54% | 143,151 | $4.4M | Reduce -57.9% |
| TPB Turning Point Brands Inc. | 0.48% | 39,400 | $3.9M | New |
| GAP The Gap Inc. | 0.41% | 155,000 | $3.3M | Reduce -84.8% |
| EYE National Vision Holdings Inc. | 0.39% | 110,000 | $3.2M | Reduce -89.9% |
| BABA Alibaba Group Holding-SP ADR | 0.37% | 16,900 | $3.0M | Reduce -43.7% |
| MNRO Monro Inc. | 0.31% | 140,000 | $2.5M | New |
| LOCO El Pollo Loco Holdings Inc. | 0.30% | 253,956 | $2.5M | Add +34.0% |
| SIG Signet Jewelers Ltd. | 0.28% | 23,991 | $2.3M | Reduce -56.2% |
| GOOS Canada Goose Holdings Inc. | 0.24% | 140,000 | $1.9M | New |
| SWIM Latham Group Inc. | 0.23% | 250,824 | $1.9M | No change |
| LTM Latam Airlines Group SA-ADR | 0.19% | 35,000 | $1.6M | New |
| NKE Nike Inc. Class B | 0.19% | 21,847 | $1.5M | New |
| VFC VF Corp. | 0.14% | 80,000 | $1.2M | New |
| BLMN Bloomin' Brands Inc. | 0.13% | 151,400 | $1.1M | New |
| JOE The St Joe Co. | 0.13% | 21,649 | $1.1M | No change |
| ATI Ati Inc. | 0.13% | 12,813 | $1.0M | New |
| MIR Mirion Technologies Inc. | 0.13% | 43,900 | $1.0M | New |
| SIMO Silicon Motion Technol-ADR | 0.12% | 10,721 | $1.0M | New |
| PZZA Papa John's Intl Inc. | 0.12% | 20,581 | $991K | New |
| TGT Target Corp. | 0.11% | 10,000 | $897K | New |
| PYPL PayPal Holdings Inc. | 0.08% | 10,000 | $671K | New |
| FOSL Fossil Group Inc. | 0.07% | 228,694 | $588K | Reduce -15.3% |
Options reported separately and not counted above: JMIA calls ($34.8M), MU calls ($33.5M), EYE calls ($7.3M), NVRI calls ($6.3M), RKT calls ($3.3M).
Portfolio Sells Q2 2025 → Q3 2025
| U Unity Software Inc. | Sold out | 0.00% | −4.19 |
| EYE National Vision Holdings Inc. | Reduce -89.9% | 0.39% | −3.17 |
| GAP The Gap Inc. | Reduce -84.8% | 0.41% | −2.74 |
| CURV Torrid Holdings Inc. | Reduce -5.9% | 2.11% | −2.26 |
| SFIX Stitch Fix Inc. Class A | Reduce -35.5% | 3.42% | −1.80 |
| VYX NCR Voyix Corp. | Sold out | 0.00% | −1.67 |
| BJRI Bj's Restaurants Inc. | Reduce -57.9% | 0.54% | −1.61 |
| HLF Herbalife Ltd. | Sold out | 0.00% | −1.20 |
| ZUMZ Zumiez Inc. | Sold out | 0.00% | −0.93 |
| FIVE Five Below | Sold out | 0.00% | −0.85 |
| JILL J. Jill Inc. | Reduce -40.2% | 1.18% | −0.77 |
| MU Micron Technology Inc. | Reduce -36.9% | 2.15% | −0.75 |
| RKT Rocket Cos Inc. Class A | Sold out | 0.00% | −0.56 |
| SN Sharkninja Inc. | Sold out | 0.00% | −0.42 |
| RELY Remitly Global Inc. | Sold out | 0.00% | −0.42 |
| SIG Signet Jewelers Ltd. | Reduce -56.2% | 0.28% | −0.34 |
| NGVT Ingevity Corp. | Sold out | 0.00% | −0.33 |
| NTGR Netgear Inc. | Sold out | 0.00% | −0.30 |
| WWW Wolverine World Wide Inc. | Sold out | 0.00% | −0.28 |
| BZH Beazer Homes USA Inc. | Sold out | 0.00% | −0.28 |
| TEM Tempus AI Inc. Class A | Sold out | 0.00% | −0.23 |
| NXH Neighborhood Intelligence Inc. | Sold out | 0.00% | −0.17 |
| BABA Alibaba Group Holding-SP ADR | Reduce -43.7% | 0.37% | −0.11 |
| SHOO Steven Madden Ltd. | Sold out | 0.00% | −0.10 |
| CAL Caleres Inc. | Sold out | 0.00% | −0.10 |
| FOSL Fossil Group Inc. | Reduce -15.3% | 0.07% | +0.02 |
| GCO Genesco Inc. | Reduce -11.3% | 3.39% | +0.39 |
Portfolio Buys Q2 2025 → Q3 2025
| JMIA Jumia Technologies AG-ADR | Add +289.2% | 9.39% | +8.43 |
| AMD Advanced Micro Devices | Add +799.0% | 4.46% | +3.96 |
| NVRI Enviri Corp. | Add +4.9% | 11.73% | +2.89 |
| RDDT Reddit Inc. Class A | Add +42.2% | 5.05% | +2.36 |
| TPR Tapestry Inc. | Add +593.6% | 2.49% | +2.17 |
| DOCN Digitalocean Holdings Inc. | New | 1.60% | +1.60 |
| BBWI Bath & Body Works Inc. | Add +105.2% | 3.88% | +1.34 |
| PCG P G & E Corp. | New | 1.00% | +1.00 |
| PLAY Dave & Buster's Entertainmen | New | 0.96% | +0.96 |
| AMZN Amazon.com Inc. | New | 0.88% | +0.88 |
| CROX Crocs Inc. | Add +135.3% | 2.04% | +0.83 |
| CELH Celsius Holdings Inc. | Add +69.9% | 1.76% | +0.79 |
| BIDU Baidu Inc. - Spon ADR | New | 0.77% | +0.77 |
| SGHC Super Group SGHC Ltd. | New | 0.76% | +0.76 |
| TIGR Up Fintech Holding Ltd. - ADR | New | 0.69% | +0.69 |
| MCD McDonald's Corp. | New | 0.62% | +0.62 |
| TPB Turning Point Brands Inc. | New | 0.48% | +0.48 |
| RH RH | Add +41.1% | 1.48% | +0.35 |
| MNRO Monro Inc. | New | 0.31% | +0.31 |
| GOOS Canada Goose Holdings Inc. | New | 0.24% | +0.24 |
| LTM Latam Airlines Group SA-ADR | New | 0.19% | +0.19 |
| NKE Nike Inc. Class B | New | 0.19% | +0.19 |
| VFC VF Corp. | New | 0.14% | +0.14 |
| BLMN Bloomin' Brands Inc. | New | 0.13% | +0.13 |
| ATI Ati Inc. | New | 0.13% | +0.13 |
| MIR Mirion Technologies Inc. | New | 0.13% | +0.13 |
| SIMO Silicon Motion Technol-ADR | New | 0.12% | +0.12 |
| PZZA Papa John's Intl Inc. | New | 0.12% | +0.12 |
| TGT Target Corp. | New | 0.11% | +0.11 |
| PYPL PayPal Holdings Inc. | New | 0.08% | +0.08 |
| LOCO El Pollo Loco Holdings Inc. | Add +34.0% | 0.30% | +0.01 |
| AVBP Arrivent Biopharma Inc. | Add +17.3% | 1.40% | −0.23 |
| FNKO Funko Inc. Class A | Add +13.4% | 2.29% | −0.94 |
Options Activity Q2 2025 → Q3 2025
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 330,000 | $182.0Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 202,500 | $125.1Mbefore exit |
| XRT SS SPDR S&P Retail ETF | put | Sold out | 1,500,000 | $115.6Mbefore exit |
| JMIA Jumia Technologies AG-ADR | call | Add +87.5% | 3,000,000 | $34.8M |
| MU Micron Technology Inc. | call | Add +900.0% | 200,000 | $33.5M |
| IWM iShares Russell 2000 ETF | put | Sold out | 125,000 | $27.0Mbefore exit |
| BBWI Bath & Body Works Inc. | call | Sold out | 440,000 | $13.2Mbefore exit |
| EYE National Vision Holdings Inc. | call | Reduce -88.4% | 248,800 | $7.3M |
| GAP The Gap Inc. | call | Sold out | 300,000 | $6.5Mbefore exit |
| RKT Rocket Cos Inc. Class A | call | New | 170,000 | $3.3M |
| DBI Designer Brands Inc. Class A | call | Sold out | 1,000,000 | $2.4Mbefore 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 |