FOX RUN MANAGEMENT, L.L.C.

Hedge Fund • Quant

FOX RUN MANAGEMENT, L.L.C. is a Quant Hedge Fund based in Greenwich, CT led by Sandeep Kumar, reporting $686.7M in AUM as of Q3 2025 with XLE as the largest holding (1% allocation).

CEOSandeep Kumar

Portfolio Value: $640.3M
Positions: 870
Top Holding: XLE at 1.2%
Last Reported: Q3 2025

Address115 E Putnam Avenue, Greenwich, CT, 06830, United States

Top Holdings

Largest long holdings in FOX RUN MANAGEMENT, L.L.C.'s portfolio (5.4% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Energy Select Sector SPDR Fund XLE	ETF ETF	$7.7M	1.20%	+$4.1M Bought	— 86.3K shares	Q1 2025 Held for 8 months
2 Financial Select Sector SPDR Fund XLF	ETF ETF	$4.3M	0.67%	-$3.4M Sold	— 80.0K shares	Q4 2020 Held for 4y 11m
3 iShares U.S. Real Estate IYR	ETF ETF	$3.9M	0.61%	+$3.9M Bought	— 40.1K shares	Q4 2022 Held for 2y 11m
4 Microchip Technology MCHP	Semiconductors Technology	$2.9M	0.45%	+$2.9M Bought	0.01% 44.6K shares	Q3 2025 Held for 2 months
5 SBA Communications SBAC	REIT - Specialty Real Estate	$2.8M	0.43%	+$2.8M Bought	0.01% 14.3K shares	Q4 2022 Held for 2y 11m
6 Paylocity PCTY	Software - Application Technology	$2.6M	0.41%	+$1.4M Bought	0.03% 16.6K shares	Q1 2025 Held for 8 months
7 Sprouts Farmers Market SFM	Grocery Stores Consumer Defensive	$2.6M	0.41%	+$1.4M Bought	0.02% 23.9K shares	Q2 2024 Held for 1y 5m
8 HEICO HEI	Aerospace & Defense Industrials	$2.5M	0.39%	+$554.0K Bought	0.01% 7.8K shares	Q2 2024 Held for 1y 5m
9 Regeneron Pharmaceuticals REGN	Biotechnology Healthcare	$2.5M	0.39%	+$2.5M Bought	0.00% 4.4K shares	Q3 2023 Held for 2y 2m
10 Brinker International EAT	Restaurants Consumer Cyclical	$2.5M	0.39%	+$624.9K Bought	0.04% 19.6K shares	Q3 2024 Held for 1y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in FOX RUN MANAGEMENT, L.L.C.'s latest filing

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Market Value

$640.3M

Prior: $598.2M

Q/Q Change

+7.04%

+$42.1M

Net Flows % of MV

-44.39%

Turnover Ratio

63.37%

New Purchases

53 stocks

$27.6M

Added To

176 stocks

+$82.4M

Sold Out Of

420 stocks

$270.2M

Reduced Holdings

214 stocks

-$124.0M

Increased Positions

Position	Shares Δ	Change
1 BBT BB&T Corporation BBT	New	0 → 81.2K +$1.9M
2 Oddity Tech ODD	New	0 → 24.6K +$1.5M
3 Ares Management Corporation ARES	New	0 → 8.3K +$1.3M
4 Centuri Holdings CTRI	New	0 → 48.1K +$1.0M
5 Willdan Group WLDN	New	0 → 10.0K +$969.7K

Decreased Positions

Position	Shares Δ	Change
1 Iron Mountain IRM	Sold	25.9K → 0 −$2.7M
2 Commvault Systems CVLT	Sold	15.1K → 0 −$2.6M
3 BellRing Brands BRBR	Sold	45.0K → 0 −$2.6M
4 DTE Energy DTE	Sold	18.4K → 0 −$2.4M
5 Union Pacific UNP	Sold	10.6K → 0 −$2.4M