Beaten-Down Retail Stock Part of Latest Fund Buying Spree
Key Points
Purchased 80,000 shares, adding ~$7.67 million in value
This new holding accounts for 5.39% of fund assets, placing it outside the fund's top five holdings
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Tenzing Global Management, LLC initiated a new position in Signet Jewelers (NYSE:SIG), acquiring 80,000 shares valued at approximately $7.67 million, according to a November 14, 2025, SEC filing
What Happened
Tenzing Global Management, LLC disclosed a new holding in Signet Jewelers as detailed in its quarterly report filed with the Securities and Exchange Commission (SEC filing) dated November 14, 2025. The fund acquired 80,000 shares valued at $7.67 million for the quarter ended September 30, 2025. This new position accounts for 5.39% of the fund’s $142.42 million in reportable U.S. equity assets.
What Else to Know
This was a new position for the quarter, representing 5.39% of Tenzing’s 13F reportable assets under management.
Top holdings after the filing:
- NASDAQ: NTGR: $16.20 million (about 11.4% of AUM)
- NASDAQ: FOXF: $12.14 million (about 8.5% of AUM)
- NASDAQ: GOGO: $10.09 million (about 7.1% of AUM)
- NYSE: YEXT: $9.80 million (about 6.9% of AUM)
- NYSE: HLF: $8.97 million (about 6.3% of AUM)
As of November 14, 2025, shares were priced at $101.01, up 5.22% over the past year; shares have underperformed the S&P 500 by 7.57 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $6.70 billion |
| Net Income (TTM) | $61.20 million |
| Dividend Yield | 1.24% |
| Price (as of market close 11/14/25) | $101.01 |
Company Snapshot
Signet Jewelers operated over 2,800 stores and kiosks across North America and the United Kingdom as of January 29, 2022. The company leverages a portfolio of well-known jewelry brands and an integrated omnichannel strategy to capture demand for diamond jewelry and related products. Signet's scale, brand diversity, and vertical integration in diamond sourcing and polishing support its competitive positioning in the global jewelry market.
- Offers diamond jewelry and related luxury goods through brands such as Kay Jewelers, Zales, Jared, James Allen, and H.Samuel, with both physical retail locations and e-commerce platforms.
- Generates revenue primarily through the sale of fine jewelry, watches, and diamond services, operating across North America and select international markets with a multi-channel retail model.
- Targets individual consumers seeking engagement, wedding, and gifting jewelry, with a focus on the U.S., Canada, and U.K. markets.
Foolish Take
Tenzing Global Managment, a San Francisco-based hedge fund, recently initiated a new position in Signet Jewelers stock, worth more than $7.6 million. Here's what average investors need to know.
In a nutshell, this purchase of Signet stock should raise a few eyebrows and for a variety of reasons.
For starters, Signet stock has performed poorly for many years. Consider its ten-year performance: Shares have declined by 12% over this period, resulting in a compound annual growth rate (CAGR) of -1.3%. The S&P 500, meanwhile, has generated a total return of 290% over the same period, with a CAGR of 14.6%.
Aside from its chronic underperformance, there are also concerns about the company's business model. The company, which operates jewelry stores including Jared, Zales, and Kay Jewelers, is facing increased competition from e-commerce platforms. In addition, the rise of lab-grown diamonds has put downward pressure on margins.
On the other hand, company insiders have been buying shares. CEO James Symancyk purchased more than 15,000 shares, valued at more than $860,000, earlier this year.
In summary, this institutional buy of Signet stock is a bullish signal, along with the earlier insider purchase from its CEO. However, Signet remains a stock that has historically underperformed the S&P 500 and continues to face stiff competition along with other challenges. Retail investors should exercise caution.
Glossary
13F AUM: The total market value of U.S. equity securities reported by an institutional investment manager in SEC Form 13F filings.
New position: An investment in a security that a fund or investor has not previously held, newly added to the portfolio.
Reportable assets: Assets that must be disclosed in regulatory filings, such as those required by the SEC for institutional investors.
Dividend yield: Annual dividend payments divided by the current share price, expressed as a percentage.
Trailing twelve months (TTM): The 12-month period ending with the most recent quarterly report.
Omnichannel strategy: A sales approach integrating multiple channels—such as physical stores and online platforms—for a seamless customer experience.
Vertical integration: A company's ownership and control over multiple stages of its supply chain, from sourcing to retail.
Fund assets: The total value of all investments held by a fund.
Quarterly report: A financial statement filed every three months, detailing a company or fund's performance and holdings.
Stake: The amount or percentage of ownership an investor or fund holds in a company.
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Jake Lerch has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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