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HCM
Harspring Capital Management Portfolio holdings
AUM
$190M
1-Year Est. Return
19.3%
This Fund
S&P 500
This Quarter
Est. Return
-8.86%
1 Year Est. Return
+19.3%
3 Year Est. Return
+76.96%
5 Year Est. Return
+46.98%
10 Year Est. Return
–
AUM
$262M
AUM Growth
-$90.3M
(-26%)
Cap. Flow
-$60.8M
Cap. Flow
% of AUM
-23.26%
Top 10 Holdings %
Top 10 Hldgs %
85.85%
Holding
17
New
–
Increased
1
Reduced
12
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LGI Homes
LGIH
|
+$1.87M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Berkshire Hathaway Class B
BRK.B
|
+$11.1M |
| 2 |
Cogent Communications
CCOI
|
+$11.1M |
| 3 |
Enova International
ENVA
|
+$7.91M |
| 4 |
Meta Platforms (Facebook)
META
|
+$5.81M |
| 5 |
Amazon
AMZN
|
+$4.34M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 52.04% |
| 2 | Financials | 20.19% |
| 3 | Consumer Discretionary | 15.76% |
| 4 | Industrials | 4.19% |
| 5 | Consumer Staples | 4.13% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Cogent Communications
CCOI
$612M
| $54.2M | 20.74% |
884,797
-150,000
| -14% | -$11.1M |
|
|
2
Meta Platforms (Facebook)
META
$1.51T
| $25.6M | 9.81% |
44,500
-9,000
| -17% | -$5.81M |
|
|
3
Amazon
AMZN
$2.49T
| $24.6M | 9.4% |
129,200
-20,000
| -13% | -$4.34M |
|
|
PPLI
4
People Inc
PPLI
$3.15B
| $22.5M | 8.61% |
597,310
-67,045
| -10% | -$2.45M |
|
|
5
Enova International
ENVA
$6.27B
| $21.8M | 8.33% |
225,500
-76,860
| -25% | -$7.91M |
|
|
ESGR
6
DELISTED
Enstar Group
ESGR
| $20.6M | 7.88% |
62,000
| – | – |
|
7
News Corp Class A
NWSA
$14.8B
| $16.9M | 6.47% |
621,500
-135,000
| -18% | -$3.78M |
|
8
Alphabet (Google) Class C
GOOG
$3.99T
| $15.3M | 5.83% |
97,650
-20,000
| -17% | -$3.66M |
|
9
Rush Enterprises Class A
RUSHA
$5.98B
| $12M | 4.6% |
225,000
-65,000
| -22% | -$3.73M |
|
10
U-Haul Holding Co Series N
UHAL.B
$12.5B
| $10.9M | 4.19% |
185,000
-45,000
| -20% | -$2.82M |
|
11
Turning Point Brands
TPB
$1.52B
| $10.8M | 4.13% |
181,500
| – | – |
|
|
HAPN
12
Happen Inc
HAPN
$2.16B
| $10.4M | 3.99% |
1,010,000
-50,000
| -5% | -$671K |
|
13
Thryv Holdings
THRY
$184M
| $9.06M | 3.47% |
707,500
-175,000
| -20% | -$2.9M |
|
|
14
LGI Homes
LGIH
$1.4B
| $4.62M | 1.77% |
69,500
+23,150
| +50% | +$1.87M |
|
15
1stdibs.com
DIBS
$152M
| $1.52M | 0.58% |
500,000
| – | – |
|
16
Orion
OEC
$379M
| $584K | 0.22% |
45,187
-174,813
| -79% | -$2.47M |
|
|
17
Berkshire Hathaway Class B
BRK.B
$1.07T
| – | – |
-24,500
| Closed | -$11.1M |
|
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Harspring Capital Management's Q1 2025 Portfolio in Review
As of Q1 2025, Harspring Capital Management held 17 positions worth $262M, down 26% from $352M the previous quarter. Its ten largest holdings account for 86% of the portfolio.
Harspring Capital Management withdrew a net $60.8M in Q1 2025, closing 1 position and reducing 12 holdings. Its most notable exit was Berkshire Hathaway Class B, an estimated $11.1M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 52% of assets, up from 51% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Harspring Capital Management added an estimated $1.87M to LGI Homes.
- Harspring Capital Management added most to LGI Homes in Q1 2025, an estimated $1.87M increase.
- Harspring Capital Management's biggest Q1 2025 reduction was Cogent Communications, cutting an estimated $11.1M.
- Harspring Capital Management fully exited Berkshire Hathaway Class B in Q1 2025, selling an estimated $11.1M.
- Harspring Capital Management's ten largest holdings make up 86% of its $262M portfolio in Q1 2025.
- Harspring Capital Management opened 0 new positions and closed 1 in Q1 2025.
- Harspring Capital Management's portfolio value fell 26% quarter-over-quarter to $262M.
Based on Harspring Capital Management's 13F filing for Q1 2025, filed 15 May 2025.