Fund 1 Investments, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Fund 1 Investments, LLC reported 49 stock positions worth $690.8 million. Its top holding was Jumia Technologies AG-ADR (JMIA) at 15.8% of the portfolio, followed by Citi Trends (CTRN, 15.5%) and Enviri (NVRI, 11.1%). Compared with Q3 2025, it opened 16 new positions, sold out of 20, added to 12 and reduced 18. The biggest buy was Jumia Technologies AG-ADR (JMIA, shares +33%) and the biggest sale an exit from Tile Shop (TTSH).

Most Recent 13F
Q2 2026
Location
RINCON, PR
CIK
0001959730
Portfolio Value
$690.8M (Q4 2025)
SEC Filing
0000929638-26-000672 ↗ filed Feb 17, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $614.7M Q1 2024 Q2 2024: $724.0M Q2 2024 Q3 2024: $641.1M Q3 2024 Q4 2024: $728.8M Q4 2024 Q1 2025: $590.8M Q1 2025 Q2 2025: $705.1M Q2 2025 Q3 2025: $814.8M Q3 2025 Q4 2025: $690.8M $690.8M Q4 2025 Q1 2026: $768.3M Q1 2026 Q2 2026: $568.8M Q2 2026

Holdings 49 stocks · $690.8M
JMIA Jumia Technologies AG-ADR 15.83% 8,755,298 $109.4M Add +32.9%
CTRN Citi Trends Inc. 15.48% 2,573,486 $107.0M No change
NVRI Enviri Corp. 11.14% 4,294,596 $77.0M Reduce -43.0%
CELH Celsius Holdings Inc. 7.80% 1,177,720 $53.9M Add +373.3%
RDDT Reddit Inc. Class A 4.40% 132,181 $30.4M Reduce -26.1%
GCO Genesco Inc. 3.54% 986,241 $24.4M Add +3.5%
FLWS 1-800-Flowers.com Inc. Class A 3.05% 5,359,437 $21.1M Reduce -43.8%
AMZN Amazon.com Inc. 2.91% 87,020 $20.1M Add +167.8%
AMD Advanced Micro Devices 2.70% 87,185 $18.7M Reduce -61.2%
DOCN Digitalocean Holdings Inc. 2.61% 374,349 $18.0M Reduce -1.7%
FNKO Funko Inc. Class A 2.58% 5,248,709 $17.8M Reduce -3.0%
TLYS Tilly's Inc. Class A SHRS 2.32% 8,058,268 $16.0M Reduce -1.4%
TPR Tapestry Inc. 1.97% 106,662 $13.6M Reduce -40.4%
MU Micron Technology Inc. 1.82% 44,000 $12.6M Reduce -58.0%
AVBP Arrivent Biopharma Inc. 1.65% 565,851 $11.4M Reduce -8.7%
VFC VF Corp. 1.51% 578,818 $10.5M Add +623.5%
SE Sea Ltd.-ADR 1.46% 79,000 $10.1M New
CURV Torrid Holdings Inc. 1.40% 9,904,856 $9.7M Add +0.9%
LOCO El Pollo Loco Holdings Inc. 1.13% 745,140 $7.8M Add +193.4%
SFIX Stitch Fix Inc. Class A 1.10% 1,441,892 $7.6M Reduce -77.5%
PAR Par Technology Corp. 1.09% 206,985 $7.5M No change
JILL J. Jill Inc. 1.07% 538,599 $7.4M Reduce -3.8%
PLAY Dave & Buster's Entertainmen 1.07% 453,909 $7.4M Add +5.8%
TLN Talen Energy Corp. 1.00% 18,500 $6.9M New
BBWI Bath & Body Works Inc. 0.98% 336,427 $6.8M Reduce -72.6%
TXRH Texas Roadhouse Inc. 0.93% 38,800 $6.4M New
WING Wingstop Inc. 0.86% 25,000 $6.0M New
DXLG Destination XL Group Inc. 0.77% 5,758,261 $5.3M No change
BABA Alibaba Group Holding-SP ADR 0.75% 35,300 $5.2M Add +108.9%
LEG Leggett & Platt Inc. 0.71% 444,596 $4.9M New
BURL Burlington Stores Inc. 0.50% 11,900 $3.4M New
BLMN Bloomin' Brands Inc. 0.47% 524,140 $3.2M Add +246.2%
BIDU Baidu Inc. - Spon ADR 0.40% 21,327 $2.8M Reduce -55.1%
CAL Caleres Inc. 0.38% 214,811 $2.6M New
FOSL Fossil Group Inc. 0.35% 642,043 $2.4M Add +180.7%
SIG Signet Jewelers Ltd. 0.30% 25,000 $2.1M Add +4.2%
GOOS Canada Goose Holdings Inc. 0.26% 136,416 $1.8M Reduce -2.6%
SPY SS SPDR S&P 500 ETF Trust-US 0.22% 2,267 $1.5M New
CMG Chipotle Mexican Grill Inc. 0.21% 40,000 $1.5M New
SG Sweetgreen Inc. Class A 0.20% 200,000 $1.4M New
CPNG Coupang Inc. 0.19% 55,000 $1.3M New
SWIM Latham Group Inc. 0.16% 175,162 $1.1M Reduce -30.2%
PRMB Primo Brands Corp. 0.15% 65,000 $1.1M New
OLPX Olaplex Holdings Inc. 0.15% 763,328 $1.0M New
TBBB BBB Foods Inc. Class A 0.14% 29,695 $992K New
GRPN Groupon Inc. 0.09% 35,000 $616K New
BJRI Bj's Restaurants Inc. 0.08% 13,337 $525K Reduce -90.7%
WW WW International Inc.-New filed as WW INTL INC 0.07% 16,600 $485K New
PZZA Papa John's Intl Inc. 0.06% 10,581 $407K Reduce -48.6%

Options reported separately and not counted above: RSP calls ($67.0M), BRK.B puts ($50.3M), JMIA calls ($6.2M), RKT calls ($3.3M).

Portfolio Sells Q3 2025 → Q4 2025
TTSH Tile Shop Hldgs Inc. Sold out 0.00% −9.55
BBWI Bath & Body Works Inc. Reduce -72.6% 0.98% −2.90
FLWS 1-800-Flowers.com Inc. Class A Reduce -43.8% 3.05% −2.33
SFIX Stitch Fix Inc. Class A Reduce -77.5% 1.10% −2.33
CROX Crocs Inc. Sold out 0.00% −2.04
AMD Advanced Micro Devices Reduce -61.2% 2.70% −1.76
RH RH Sold out 0.00% −1.48
PCG P G & E Corp. Sold out 0.00% −1.00
SGHC Super Group SGHC Ltd. Sold out 0.00% −0.76
TIGR Up Fintech Holding Ltd. - ADR Sold out 0.00% −0.69
VRA Vera Bradley Inc. Sold out 0.00% −0.69
RDDT Reddit Inc. Class A Reduce -26.1% 4.40% −0.65
MCD McDonald's Corp. Sold out 0.00% −0.62
NVRI Enviri Corp. Reduce -43.0% 11.14% −0.58
TPR Tapestry Inc. Reduce -40.4% 1.97% −0.51
TPB Turning Point Brands Inc. Sold out 0.00% −0.48
BJRI Bj's Restaurants Inc. Reduce -90.7% 0.08% −0.46
GAP The Gap Inc. Sold out 0.00% −0.41
EYE National Vision Holdings Inc. Sold out 0.00% −0.39
BIDU Baidu Inc. - Spon ADR Reduce -55.1% 0.40% −0.36
MU Micron Technology Inc. Reduce -58.0% 1.82% −0.33
MNRO Monro Inc. Sold out 0.00% −0.31
LTM Latam Airlines Group SA-ADR Sold out 0.00% −0.19
NKE Nike Inc. Class B Sold out 0.00% −0.19
JOE The St Joe Co. Sold out 0.00% −0.13
ATI Ati Inc. Sold out 0.00% −0.13
MIR Mirion Technologies Inc. Sold out 0.00% −0.13
SIMO Silicon Motion Technol-ADR Sold out 0.00% −0.12
TGT Target Corp. Sold out 0.00% −0.11
JILL J. Jill Inc. Reduce -3.8% 1.07% −0.11
PYPL PayPal Holdings Inc. Sold out 0.00% −0.08
SWIM Latham Group Inc. Reduce -30.2% 0.16% −0.07
PZZA Papa John's Intl Inc. Reduce -48.6% 0.06% −0.06
GOOS Canada Goose Holdings Inc. Reduce -2.6% 0.26% +0.02
AVBP Arrivent Biopharma Inc. Reduce -8.7% 1.65% +0.24
TLYS Tilly's Inc. Class A SHRS Reduce -1.4% 2.32% +0.25
FNKO Funko Inc. Class A Reduce -3.0% 2.58% +0.30
DOCN Digitalocean Holdings Inc. Reduce -1.7% 2.61% +1.01

Portfolio Buys Q3 2025 → Q4 2025
JMIA Jumia Technologies AG-ADR Add +32.9% 15.83% +6.44
CELH Celsius Holdings Inc. Add +373.3% 7.80% +6.04
AMZN Amazon.com Inc. Add +167.8% 2.91% +2.03
SE Sea Ltd.-ADR New 1.46% +1.46
VFC VF Corp. Add +623.5% 1.51% +1.37
TLN Talen Energy Corp. New 1.00% +1.00
TXRH Texas Roadhouse Inc. New 0.93% +0.93
WING Wingstop Inc. New 0.86% +0.86
LOCO El Pollo Loco Holdings Inc. Add +193.4% 1.13% +0.83
LEG Leggett & Platt Inc. New 0.71% +0.71
BURL Burlington Stores Inc. New 0.50% +0.50
CAL Caleres Inc. New 0.38% +0.38
BABA Alibaba Group Holding-SP ADR Add +108.9% 0.75% +0.38
BLMN Bloomin' Brands Inc. Add +246.2% 0.47% +0.33
FOSL Fossil Group Inc. Add +180.7% 0.35% +0.28
SPY SS SPDR S&P 500 ETF Trust-US New 0.22% +0.22
CMG Chipotle Mexican Grill Inc. New 0.21% +0.21
SG Sweetgreen Inc. Class A New 0.20% +0.20
CPNG Coupang Inc. New 0.19% +0.19
PRMB Primo Brands Corp. New 0.15% +0.15
OLPX Olaplex Holdings Inc. New 0.15% +0.15
GCO Genesco Inc. Add +3.5% 3.54% +0.14
TBBB BBB Foods Inc. Class A New 0.14% +0.14
PLAY Dave & Buster's Entertainmen Add +5.8% 1.07% +0.11
GRPN Groupon Inc. New 0.09% +0.09
WW WW International Inc.-New New 0.07% +0.07
SIG Signet Jewelers Ltd. Add +4.2% 0.30% +0.02
CURV Torrid Holdings Inc. Add +0.9% 1.40% −0.71

Options Activity Q3 2025 → Q4 2025
RSP Invesco S&P 500 Equal Weight call New 350,000 $67.0M
BRK.B Berkshire Hathaway Inc. Class B put New 100,000 $50.3M
MU Micron Technology Inc. call Sold out 200,000 $33.5Mbefore exit
EYE National Vision Holdings Inc. call Sold out 248,800 $7.3Mbefore exit
NVRI Enviri Corp. call Sold out 500,000 $6.3Mbefore exit
JMIA Jumia Technologies AG-ADR call Reduce -83.3% 500,000 $6.2M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 45$568.8MCTRN, JMIA, TLYS, FNKO, GO
Q1 2026 62$768.3MCTRN, JMIA, CELH, VFC, RDDT
Q4 2025 49$690.8MJMIA, CTRN, NVRI, CELH, RDDT
Q3 2025 53$814.8MNVRI, CTRN, TTSH, JMIA, FLWS
Q2 2025 48$705.1MCTRN, TTSH, NVRI, FLWS, SFIX
Q1 2025 43$590.8MTTSH, BJRI, CTRN, CURV, FLWS
Q4 2024 57$728.8MBJRI, TTSH, CTRN, FNKO, SIG
Q3 2024 58$641.1MLBTYA, BJRI, TTSH, CTRN, TLYS
Q2 2024 55$724.0MBJRI, TTSH, CTRN, LBTYA, HIBB
Q1 2024 39$614.7MBJRI, HIBB, TPR, TLYS, TTSH