QRHC

QRHC

QRHC

Market Cap: $0.04B

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Aug 27, 2025	Long Cast Advisers	19.0%	-4.0%	CCRD, EEFT, MAMA, MTRX, PDEX, PESI, QRHC, RELL, RSSS	Cash, Demand Destruction, Microcaps, payments, small caps, Trade Policy, Valuations	Manager focuses on small company investing with concentrated positions in microcaps and small caps. Portfolio includes companies like CCRD, QRHC, MTRX, and RSSS with emphasis on finding undiscovered stocks trading at cheap valuations relative to expected growth and cash flow.	QRHC EEFT CCRD QRHC CCRD	View
2025 Q1	Jun 5, 2025	Long Cast Advisers	-20.0%	-20.0%	CCRD, GOOG, META, MTRX, PDEX, PESI, QRHC, RSSS	Concentration, Long Term, Outperformance, Price Discovery, small caps, value	Manager focuses exclusively on small company investing, seeking five-year doubles with 15% annualized returns. Portfolio concentrated in top-five positions representing 70% of holdings, with three stocks at or around 15% weightings.	PESI QRHC MTRX RSSS PDEX CCRD	View
2024 Q1	May 7, 2024	Long Cast Advisers	6.0%	16.0%	CCRD, CCRN, CTEK, DAIO, ENVX, LRCX, MTRX, PESI, PSSR, QRHC, RELL, RSSS, SNES	concentrated, Cyclical, Fundamental Analysis, small caps, Turnarounds, value	Manager focuses exclusively on small companies that are barely included in any indices, using fundamental analysis to evaluate financial statements and corporate strategies. The concentrated approach targets well-researched small companies offering compelling opportunities for high returns through long-term cash earnings analysis.		View
2025 Q3	Nov 24, 2025	Long Cast Advisers	4.0%	-1.0%	MAMA, MTRX, PDEX, PESI, QRHC, RSSS	concentrated, healthcare, Manufacturing, Publishing, small caps, value	Fund focuses exclusively on small- and micro-cap companies that can grow over time, targeting 15% annualized returns. Manager emphasizes differentiated strategy versus indices which are overly represented by unprofitable, speculative companies. Portfolio concentrated in top five positions representing 60% of assets.	QRHC PESI RSSS MTRX PDEX	View
2024 Q3	Oct 25, 2024	Long Cast Advisers	6.0%	16.0%	AAPL, BANC, CCRD, ENVX, GS, JPM, MTRX, PDEX, PESI, QRHC, SNES	Concentration, Medical Devices, payments, small caps, value	PDEX is a contract manufacturer to the medical device industry with a marquee torque limiting driver for orthopedic and maxillofacial surgeries. The company recently completed manufacturing expansion and now has capacity for $80M-$100M in sales, up from under $40M in FY21. Management is patient and thoughtful with a long-term approach.	CCRD PDEX	View
2025 Q4	Jan 24, 2026	Long Cast Advisers	1.0%	0.0%	CCRD, CCRN, EEFT, LSYN, MAMA, MTRX, NRC, PDEX, PESI, QRHC, RELL, RSSS	healthcare, Owner-Operator, small caps, Staffing, value	Significant focus on healthcare staffing through CCRN investment, with nurse staffing industry facing competitive pressures but potential for margin improvement. Also invested in NRC, a healthcare consulting and patient survey company with strong margins despite industry headwinds. Portfolio concentrated in small and micro-cap companies with intent to own for multiple years. Manager emphasizes patient capital approach targeting 15% annualized returns through well-researched small company investments. Focus on companies trading at attractive valuations with strong balance sheets and cash positions. CCRN example shows investment in company with 40% of market cap in cash and low enterprise value multiples.	RSSS MTRX NRC CCRN	View
2024 Q4	Jan 24, 2025	Long Cast Advisers	20.0%	39.0%	CCRD, MTRX, PDEX, PESI, QRHC, RSSS	Concentration, Industrial, Microcap, Price Discovery, small caps, value	Manager focuses exclusively on small company investing, seeking five-year doubles with 15% annualized returns. Portfolio concentrated in top-five positions representing 70% of assets. Believes small cap managers handily beat relevant indices due to over-representation of unprofitable lottery tickets in benchmarks and sparse analyst coverage creating opportunities.	PESI QRHC MTRX RSSS PDEX CCRD	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Long Cast Advisers	Quest Resource Holding Corporation	Industrials	Environmental & Facilities Services	Neutral	NASDAQ	Board Governance, cash flow generation, environmental services, Leverage Issues, Management Change, microcap, turnaround, waste management	View Pitch
Apr 13, 2026	Fund Letters	Long Cast Advisers	Quest Resource Holding Corporation	Industrials	Environmental & Facilities Services	Neutral	NASDAQ	Customer Additions, EV Policy, Farm Recession, Industrial Headwinds, Recycling Services, Technology Transition, waste management	View Pitch
Apr 13, 2026	Fund Letters	Long Cast Advisers	Quest Resource Holding Corporation	Industrials	Environmental & Facilities Services	Neutral	NASDAQ	Customer concentration, EV Policy, Farm Recession, Industrial Headwinds, management communication, Technology Transformation, waste management	View Pitch
Jan 8, 2026	Fund Letters	Avram Fisher	Quest Resource Holding Corporation	Industrials	Environmental & Facilities Services	Bull	NASDAQ	Activism, cash flow, microcap, turnaround, waste management	View Pitch
Nov 28, 2025	Fund Letters	Avram Fisher	Quest Resource Holding Corporation	Industrials	Environmental & Facilities Services	Bull	NASDAQ	ESG, Impairment, Recycling, services, Smallcap, turnaround, waste	View Pitch

BSD Shareholders of QRHC

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
Israel Englander	Millennium Management LLC	$233.2B	$172,132	0.00%	92,544	-14,329	-13.41%	0.4600%
David Siegel & John Overdeck	Two Sigma Investments	$67.5B	$104,128	0.00%	55,983	+55,983	+100.00%	0.2783%

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