Applied Fundamental Research, LLC

**Applied Fundamental Research, LLC** manages $101M across a concentrated portfolio of 10 positions. The strategy emphasizes deep, fundamental analysis, evidenced by significant allocations to names like 0J7Q ($17.5M) and DY ($11.8M). Top holdings represent a diverse basket, with the top five positions accounting for over 57% of the total AUM. This structure suggests a conviction-driven approach targeting outsized returns through rigorous bottom-up research.

📌 Top Holdings