Fund 1 Investments, LLC
Fund 1 Investments, LLC is a Delaware-incorporated investment advisory firm headquartered in Rincon, Puerto Rico. The firm manages hedge and private investment vehicles, serving institutional and high-net-worth clients. It was founded prior to 2023 and acts as the managing member of Pleasant Lake Partners LLC, with Jonathan Lennon as the managing member. The firm holds equity and derivative positions in public companies and filed its first major SEC statements in 2023.
Investment Strategy
Fund 1 Investments, LLC pursues a long/short equity and derivative strategy focused on publicly traded companies, with frequent use of index and sector ETFs (such as QQQ and SPY) in both long and short formats (e.g., puts and calls). Its holdings demonstrate a tactical approach, seeking alpha returns through directional trading and hedged exposures, notably in consumer discretionary, retail, and technology sectors. The firm also manages private investment vehicles and feeders, leveraging its expertise in active trading and risk management.
Top Holdings
Equity Positions (44)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
C CTRN | CITI TRENDS INC | 6.93% | $85.9M | 2,573,486 | $22.59 | $33.39 | +$29.0M |
F FLWS | 1 800 FLOWERS COM INC | 3.78% | $46.9M | 9,527,250 | $7.63 | $4.92 | -$1.4M |
S SFIX | STITCH FIX INC | 2.97% | $36.8M | 9,943,821 | $3.51 | $3.70 | +$17.7M |
C CURV | TORRID HLDGS INC | 2.48% | $30.8M | 10,433,112 | $4.82 | $2.95 | -$20.1M |
U U | UNITY SOFTWARE INC | 2.39% | $29.6M | 1,222,119 | $24.20 | $24.20 | +$29.6M |
Options Positions (9)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
Q QQQ | INVESCO QQQ TR | Sold | Put | $182.0M | 3,300 | $551.64 | $461.57 | -5,700 | -$240.0M |
S SPY | SPDR S&P 500 ETF TR | Sold | Put | $125.1M | 2,025 | $617.85 | $560.87 | -5,975 | -$322.2M |
X XRT | SPDR SERIES TRUST | New | Put | $115.6M | 15,000 | $77.06 | $77.06 | +15,000 | +$115.6M |
E EYE | NATIONAL VISION HLDGS INC | Bought | Call | $49.4M | 21,488 | $23.01 | $14.92 | +4,488 | +$27.7M |
I IWM | ISHARES TR | New | Put | $27.0M | 1,250 | $215.79 | $215.79 | +1,250 | +$27.0M |