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HCM
Harspring Capital Management Portfolio holdings
AUM
$53.7M
1-Year Est. Return
23.29%
This Fund
S&P 500
This Quarter
Est. Return
+0.97%
1 Year Est. Return
+23.29%
3 Year Est. Return
+70.56%
5 Year Est. Return
+50.18%
10 Year Est. Return
–
AUM
$261M
AUM Growth
-$23M
(-8.1%)
Cap. Flow
-$19.3M
Cap. Flow
% of AUM
-7.39%
Top 10 Holdings %
Top 10 Hldgs %
88.42%
Holding
17
New
–
Increased
3
Reduced
1
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Darling Ingredients
DAR
|
+$2.67M |
| 2 |
Cogent Communications
CCOI
|
+$843K |
| 3 |
1stdibs.com
DIBS
|
+$300K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ESGR
Enstar Group
ESGR
|
+$20.9M |
| 2 |
Maravai LifeSciences
MRVI
|
+$1.21M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$1.05M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 45.97% |
| 2 | Consumer Staples | 17.68% |
| 3 | Consumer Discretionary | 16.42% |
| 4 | Financials | 14.94% |
| 5 | Industrials | 3.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Cogent Communications
CCOI
$444M
| $33.6M | 12.85% |
875,000
+20,203
| +2% | +$843K |
|
2
Meta Platforms (Facebook)
META
$1.72T
| $32.7M | 12.51% |
44,500
| – | – |
|
|
3
Darling Ingredients
DAR
$10.3B
| $28.2M | 10.81% |
915,000
+80,000
| +10% | +$2.67M |
|
4
Amazon
AMZN
$2.65T
| $27.3M | 10.44% |
124,200
| – | – |
|
5
Enova International
ENVA
$4.29B
| $26M | 9.94% |
225,500
| – | – |
|
6
News Corp Class A
NWSA
$16.2B
| $19.1M | 7.31% |
621,500
| – | – |
|
7
Turning Point Brands
TPB
$1.41B
| $17.9M | 6.87% |
181,500
| – | – |
|
|
PPLI
8
People Inc
PPLI
$2.78B
| $16.7M | 6.39% |
490,000
| – | – |
|
|
9
Alphabet (Google) Class C
GOOG
$4.15T
| $16.5M | 6.31% |
67,650
-5,000
| -7% | -$1.05M |
|
|
HAPN
10
Happen Inc
HAPN
$1.88B
| $13.1M | 5% |
860,000
| – | – |
|
11
Rush Enterprises Class A
RUSHA
$5.72B
| $12M | 4.61% |
337,500
| – | – |
|
12
U-Haul Holding Co Series N
UHAL.B
$10.9B
| $9.42M | 3.61% |
185,000
| – | – |
|
13
Thryv Holdings
THRY
$87.5M
| $3.62M | 1.39% |
300,000
| – | – |
|
14
LGI Homes
LGIH
$1.14B
| $3.59M | 1.38% |
69,500
| – | – |
|
|
15
1stdibs.com
DIBS
$145M
| $1.58M | 0.6% |
610,000
+110,000
| +22% | +$300K |
|
|
ESGR
16
DELISTED
Enstar Group
ESGR
| – | – |
-62,000
| Closed | -$20.9M |
|
|
17
Maravai LifeSciences
MRVI
$1.02B
| – | – |
-500,000
| Closed | -$1.21M |
|
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Harspring Capital Management's Q3 2025 Portfolio in Review
As of Q3 2025, Harspring Capital Management held 17 positions worth $261M, down 8.1% from $284M the previous quarter. Its ten largest holdings account for 88% of the portfolio.
Harspring Capital Management withdrew a net $19.3M in Q3 2025, closing 2 positions and reducing 1 holding. Its most notable exit was Enstar Group, an estimated $20.9M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 46% of assets, up from 44% a quarter earlier, followed by Consumer Staples and Consumer Discretionary.
Against the trend, Harspring Capital Management added an estimated $2.67M to Darling Ingredients.
- Harspring Capital Management added most to Darling Ingredients in Q3 2025, an estimated $2.67M increase.
- Harspring Capital Management's biggest Q3 2025 reduction was Alphabet (Google) Class C, cutting an estimated $1.05M.
- Harspring Capital Management fully exited Enstar Group in Q3 2025, selling an estimated $20.9M.
- Harspring Capital Management's ten largest holdings make up 88% of its $261M portfolio in Q3 2025.
- Harspring Capital Management opened 0 new positions and closed 2 in Q3 2025.
- Harspring Capital Management's portfolio value fell 8.1% quarter-over-quarter to $261M.
Based on Harspring Capital Management's 13F filing for Q3 2025, filed 13 Nov 2025.