Harspring Capital Management, LLC
Long book
$190.1M
Q1 2026
Positions
14
Top-10 weight
88%
concentration
Last quarter
+13.6%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsHarspring Capital Management, LLC is a concentrated fundamental stock-picker, running a $190.1M US long book across 14 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: DARLING INGREDIENTS INC, ENOVA INTERNATIONAL INC, COGENT COMMUNICATIONS HOLDIN, AMAZON.COM INC, META PLATFORMS INC-CLASS A.
Over the last 9 quarters its long book ran on average 1.8pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-4.2%
Q2 2024
+16.0%
Q3 2024
+3.2%
Q4 2024
-9.7%
Q1 2025
+3.7%
Q2 2025
-0.7%
Q3 2025
+2.3%
Q4 2025
+0.1%
Q1 2026
+13.6%
Sector allocation
Technology 23%
Consumer staples 20%
Consumer discretionary 19%
Financials 17%
Communications 11%
Other 6%
Services media 3%
Industrials 1%
Long book by quarter
What does Harspring Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| DAR DARLING INGREDIENTS INC | Consumer staples | 425.0K | $26.3M | 13.8% | -53.6% |
| ENVA ENOVA INTERNATIONAL INC | Financials | 170.0K | $23.1M | 12.1% | -24.6% |
| CCOI COGENT COMMUNICATIONS HOLDIN | Communications | 1.1M | $20.5M | 10.8% | -22.5% |
| AMZN AMAZON.COM INC | Consumer discretionary | 95.0K | $19.8M | 10.4% | -23.5% |
| META META PLATFORMS INC-CLASS A | Technology | 33.5K | $19.2M | 10.1% | -24.7% |
| GOOG ALPHABET INC-CL C | Technology | 50.0K | $14.3M | 7.5% | -26.1% |
| NWSA NEWS CORP - CLASS A | Other | 480.0K | $12.0M | 6.3% | -20.2% |
| RUSHA RUSH ENTERPRISES INC-CL A | Consumer discretionary | 180.0K | $11.9M | 6.3% | -20.0% |
| TPB TURNING POINT BRANDS INC | Consumer staples | 126.8K | $11.0M | 5.8% | -30.1% |
| HAPN HAPPEN INC | Financials | 700.0K | $10.0M | 5.3% | -18.6% |
| PPLI PEOPLE INC | Technology | 245.0K | $9.8M | 5.2% | -22.2% |
| UHAL/B U-HAUL HOLDING CO-NON VOTING | Services media | 145.0K | $6.5M | 3.4% | -21.6% |
| DIBS 1STDIBS.COM INC | Consumer discretionary | 650.0K | $3.6M | 1.9% | -1.5% |
| LGIH LGI HOMES INC | Industrials | 55.0K | $2.2M | 1.1% | -20.9% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 14 | $190.1M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 14 | $269.6M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 15 | $261.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 17 | $284.2M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 16 | $261.5M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 17 | $351.8M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 18 | $420.6M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 18 | $394.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 17 | $423.8M | canonical | SEC ↗ |
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