Duluth Holdings Inc.

DLTH • NASDAQ

Duluth Holdings Inc. is a apparel - retail company in the consumer cyclical sector on NASDAQ, led by Stephen L. Schlecht, with a market cap of $106.8M. As of Q3 2025, 16% of shares are held by 55 institutional investors, with DIMENSIONAL FUND ADVISORS LP as the largest holder at 2.1%.

Interim Chief Executive OfficerStephen L. Schlecht

Market Cap$106.8M

Apparel - Retail

Consumer Cyclical

Employees2.3K

Websiteduluthtrading.com

Country

United States of America

Overview

Overview of institutional ownership in DLTH as of Q3 2025 with a market cap of $143.5M

All Institutions

Institutions: 55
Value Held: $22.9M
Shares Held: 5.9M
Avg Position: $416.2K
Median Position: $95.8K

Hedge Funds

Hedge Funds: 5
Value Held: $2.9M
Shares Held: 747.0K
Avg Position: $584.1K
Median Position: $140.5K

Ownership Breakdown

Institutional (non-HF)

13.92%

$20.0M

Hedge Funds

2.04%

$2.9M

Retail & Other

84.05%

$120.6M

Based on market cap of $143.5M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in DLTH as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$3.0M 0.00% of portfolio	2.10% 770.2K shares	Q4 2016 Held for 8y 11m	$466.32B
Madison Asset Management, LLC Long Only Manager	Steven Allan Carl Chairman	$3.0M 0.03% of portfolio	2.08% 762.8K shares	Q1 2022 Held for 3y 8m	$9.0B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$3.0M 0.00% of portfolio	2.08% 761.6K shares	Q4 2015 Held for 9y 11m	$6.69T
T Tieton Capital Management, LLC Long Only Manager	William Joseph Dezellem President	$2.9M 0.99% of portfolio	1.99% 731.6K shares	Q4 2022 Held for 2y 11m	$288.1M
T Tenzing Global Management, LLC Hedge Fund•Long/Short	Chetan Ovinder Kapoor CEO	$2.3M 1.65% of portfolio	1.64% 600.0K shares	Q3 2025 Held for 2 months	$142.4M
B BlackRock, Inc. Institution	-	$1.5M 0.00% of portfolio	1.05% 384.4K shares	Q1 2016 Held for 9y 8m	$5.67T
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	John Wyatt Ricketts President	$868.6K 0.00% of portfolio	0.61% 222.2K shares	Q4 2023 Held for 1y 11m	$31.7B
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	John Noland Ryan Montgomery CEO	$762.8K 0.02% of portfolio	0.53% 195.1K shares	Q4 2022 Held for 2y 11m	$4.7B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$671.9K 0.00% of portfolio	0.47% 171.8K shares	Q4 2015 Held for 9y 11m	$1.57T
B BLAIR WILLIAM & CO/IL Institution	-	$443.8K 0.00% of portfolio	0.31% 113.5K shares	Q4 2015 Held for 9y 11m	$37.6B

Net Capital Flow

Institutional buying and selling activity for DLTH in Q3 2025

Traded: +$2.2M
Buyers: 19
Sellers: 24
Total Bought: +$3.6M
Total Sold: −$1.4M
Avg Position: $357.6K

Biggest Buyers

Institution	Net Bought	Current Position
T Tenzing Global Management, LLC Hedge Fund•Long/Short	+$2.3M +600.0K shares	$2.3M 600.0K shares
J JANE STREET GROUP, LLC Institution	+$256.1K +65.5K shares	$256.1K 65.5K shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	+$180.0K +46.0K shares	$868.6K 222.2K shares
T Tieton Capital Management, LLC Long Only Manager	+$144.7K +37.0K shares	$2.9M 731.6K shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	+$140.5K +35.9K shares	$140.5K 35.9K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$130.6K +33.4K shares	$130.6K 33.4K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$109.1K +27.9K shares	$326.7K 83.6K shares
S Squarepoint Ops LLC Hedge Fund•Quant	+$84.5K +21.6K shares	$84.5K 21.6K shares
B BLAIR WILLIAM & CO/IL Institution	+$65.2K +16.7K shares	$443.8K 113.5K shares
UBS Group AG Institution	+$41.6K +10.6K shares	$269.1K 68.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
Empowered Funds, LLC ETF Provider	−$322.6K −82.5K shares	$88.3K 22.6K shares
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	−$303.0K −77.5K shares	$762.8K 195.1K shares
VANGUARD GROUP INC Institution	−$150.2K −38.4K shares	$3.0M 761.6K shares
GOLDMAN SACHS GROUP INC Institution	−$138.6K −35.4K shares	$402.8K 103.0K shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	−$119.7K −30.6K shares	$3.0M 770.2K shares
STATE OF WISCONSIN INVESTMENT BOARD RIA/Wealth	−$70.1K −33.4K shares	Sold Off 0 shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$65.9K −31.4K shares	Sold Off 0 shares
Guardian Wealth Management, Inc. RIA/Wealth	−$65.1K −31.0K shares	Sold Off 0 shares
T Taylor & Morgan Wealth Management, LLC Institution	−$61.3K −15.7K shares	$93.8K 24.0K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$23.7K −6.1K shares	$219.1K 56.0K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited DLTH in Q3 2025

New Positions: 4
New Value: $2.4M
Exited Positions: 9
Exited Value: $211.9K

New Positions

Institution	Position Value
T Tenzing Global Management, LLC Hedge Fund•Long/Short	$2.3M 600.0K shares
T TWO SIGMA SECURITIES, LLC Institution	$39.4K 10.1K shares
FINANCIAL CONSULATE, INC RIA/Wealth	$1.2K 300.0 shares
Sontag Advisory, LLC RIA/Wealth	$673.0 172.0 shares

Exited Positions

Institution	Previous Position
STATE OF WISCONSIN INVESTMENT BOARD RIA/Wealth	$70.1K 33.4K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$65.9K 31.4K shares
Guardian Wealth Management, Inc. RIA/Wealth	$65.1K 31.0K shares
IFP Advisors, Inc RIA/Wealth	$3.8K 1.8K shares
G GROUP ONE TRADING, L.P. Institution	$3.5K 1.7K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$2.1K 1.0K shares
West Branch Capital LLC RIA/Wealth	$1.2K 591.0 shares
CALDWELL SUTTER CAPITAL, INC. RIA/Wealth	$168.0 80.0 shares
FMR LLC Institution	- - shares

Options Activity

Institutions with the largest Call and Put options positions in DLTH as of Q3 2025

Call Positions: 1
Call Value: $51.6K
Put Positions: 1
Put Value: $57.1K

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$51.6K 132.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$57.1K 146.0 contracts

Most Committed Institutions

Institutions with DLTH as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
T Tenzing Global Management, LLC Hedge Fund•Long/Short	Chetan Ovinder Kapoor CEO	1.65% $2.3M	1.64% 600.0K shares	Q3 2025 Held for 2 months	$142.4M
T Tieton Capital Management, LLC Long Only Manager	William Joseph Dezellem President	0.99% $2.9M	1.99% 731.6K shares	Q4 2022 Held for 2y 11m	$288.1M
I IRONWOOD INVESTMENT MANAGEMENT LLC Long Only Manager	Donald Collins Managing Partner	0.06% $142.1K	0.10% 36.3K shares	Q4 2017 Held for 7y 11m	$227.0M
YARGER WEALTH STRATEGIES, LLC RIA/Wealth	Jonathan Laird Yarger CEO	0.06% $126.8K	0.09% 32.4K shares	Q2 2024 Held for 1y 5m	$215.0M
T Taylor & Morgan Wealth Management, LLC Institution	-	0.06% $93.8K	0.07% 24.0K shares	Q4 2023 Held for 1y 11m	$162.8M
Madison Asset Management, LLC Long Only Manager	Steven Allan Carl Chairman	0.03% $3.0M	2.08% 762.8K shares	Q1 2022 Held for 3y 8m	$9.0B
B BRAVE ASSET MANAGEMENT INC Institution	-	0.02% $95.8K	0.07% 24.5K shares	Q1 2022 Held for 3y 8m	$409.2M
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	John Noland Ryan Montgomery CEO	0.02% $762.8K	0.53% 195.1K shares	Q4 2022 Held for 2y 11m	$4.7B
VALLEY FORGE INVESTMENT CONSULTANTS INC ADV RIA/Wealth	Michael Joseph Maher CEO	0.02% $53.0K	0.04% 13.6K shares	Q1 2021 Held for 4y 8m	$342.0M
Fruth Investment Management RIA/Wealth	Richard John Fruth President	0.01% $49.7K	0.03% 12.7K shares	Q4 2024 Held for 11 months	$367.3M

Hedge Fund Spotlight

Discover hedge funds investing in DLTH

Squarepoint Ops LLC

Hedge Fund • Quant

Portfolio ManagerMichael Gottlieb

Portfolio Value: $46.9B
Positions: 2,529
Last Reported: Q3 2025

Sector Allocation

Position in Duluth Holdings Inc.

Market Value: $84.5K
Shares Held: 21.6K
Portfolio Weight: 0.00%
Owned Since: 2024-Q2

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