Kettle Hill Capital Management, LLC fully exited its position in Abercrombie & Fitch (ANF 3.68%) during the third quarter, a move estimated at $23.39 million, according to a November 13, 2025, SEC filing.
What Happened
According to a filing with the Securities and Exchange Commission dated November 13, 2025, Kettle Hill Capital Management, LLC sold all 282,366 shares of Abercrombie & Fitch held as of June 30, 2025. The position’s estimated value change for the period was $23.39 million, resulting in a post-trade holding of zero shares.
What Else to Know
Kettle Hill sold out of its entire Abercrombie & Fitch.
Top holdings after the filing:
- NASDAQ:LKQ: $35.53 million (7.99% of AUM)
- NYSE:PSN: $30.94 million (6.96% of AUM)
- NASDAQ:WYNN: $26.98 million (6.07% of AUM)
- NYSE:IFF: $26.14 million (5.88% of AUM)
- NYSE:RKT: $24.68 million (5.55% of AUM)
As of December 05, 2025, Abercrombie & Fitch shares were priced at $94.87, down 22.57% over one year, lagging the S&P 500 by 38.16 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-12-05) | $94.87 |
| Market Capitalization | $5.05 billion |
| Revenue (TTM) | $5.18 billion |
| Net Income (TTM) | $529.92 million |
Company Snapshot
- Offers apparel, personal care products, and accessories under brands such as Abercrombie & Fitch, Hollister, abercrombie kids, Gilly Hicks, and Social Tourist.
- Generates revenue through a combination of company-operated retail stores, e-commerce platforms, and select wholesale, franchise, and licensing arrangements.
- Targets men, women, and children globally, with a focus on fashion-conscious consumers in North America, Europe, Asia, and the Middle East.
Abercrombie & Fitch is a global specialty retailer with a diversified brand portfolio and a presence in multiple international markets. The company leverages a multi-channel distribution strategy, integrating physical retail locations with robust e-commerce operations to reach a broad customer base. Its focus on brand differentiation and international expansion supports its competitive positioning in the apparel retail sector.
Foolish Take
Kettle Hill Capital Management, a New York-based independent investment firm, recently disclosed that it sold out of its entire position in Abercrombie & Fitch stock during the third quarter of 2025. The firm had held over $23 million worth of stock in the company prior to the end of the quarter. Here's what investors need to know about this transaction.
For starters, Abercrombie & Fitch stock has been on a rollercoaster this year. Year-to-date, shares have declined by 28%. However, over the last month, the stock has sprung back to life. Shares have skyrocketed by 49%, thanks to a fantastic earnings report delivered by the company on November 26, 2025.
Those results showed that Abercrombie & Fitch blew away expectations, delivering a surprise profit and surging revenue that was up 7% from a year earlier. What's more, the company revised upward its sales and earnings guidance. The company credited some of its increased sales growth to the popularity of its Hollister brand apparel. In addition, the company highlighted the growing use of inventory management software and AI-powered tools as drivers of cost savings.
As for this transaction, large institutional investors sell stocks for any number of reasons. In this case, and in hindsight, Kettle Hill's timing doesn't look great. Kettle Hill fully exited their position prior to a significant increase in the price of Abercrombie & Fitch stock.
To close, retail investors should note the recent turnaround in Abercrombie & Fitch, both in terms of its stock price and in the excellent quarterly results. The stock is one to keep an eye on, as it appears poised to bounce back from recent struggles.
Glossary
Exited position: When an investor sells all shares of a particular holding, fully closing out their investment.
13F reportable assets: Assets that institutional investment managers must report quarterly to the SEC on Form 13F.
Assets under management (AUM): The total market value of investments managed by a fund or investment firm.
Post-trade holding: The number of shares or value of a position remaining after a trade is completed.
Stake: The ownership interest or amount of shares an investor holds in a company.
Top holdings: The largest investments in a fund or portfolio, typically by market value.
Lagging the S&P 500: Underperforming the S&P 500 index over a specified period.
Market capitalization: The total value of a company's outstanding shares, calculated as share price times shares outstanding.
Franchise arrangements: Business agreements allowing others to operate stores using the company's brand and business model.
Licensing arrangements: Agreements allowing another party to use a company's brand, technology, or products for a fee.
Multi-channel distribution: Selling products through multiple platforms, such as physical stores, online, and third-party partners.
TTM: The 12-month period ending with the most recent quarterly report.
