Why This Florida Fund Locked In DoorDash Gains After a 70% Stock Surge
Key Points
Florida-based Abacus FCF Advisors sold 70,573 shares of DoorDash for an estimated $17.4 million in the third quarter.
The transaction represented approximately 2.3% of Abacus FCF Advisors’ $752.3 million in reportable assets under management.
The firm reported holding no DoorDash shares at quarter-end.
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Abacus FCF Advisors LLC fully exited its position in DoorDash (NASDAQ:DASH) during the third quarter, selling approximately $17.4 million in shares, according to an SEC filing on Monday.
What Happened
According to a filing submitted to the Securities and Exchange Commission on Monday, Abacus FCF Advisors liquidated its entire stake in DoorDash (NASDAQ:DASH) in the third quarter. The sale amounted to 70,573 shares, with an estimated value of $17.4 million based on the average closing price during the quarter.
What Else to Know
Top holdings after the filing:
- NYSE:ABBV: $29.2 million (3.9% of AUM)
- NYSE:MA: $26.2 million (3.5% of AUM)
- NASDAQ:APP: $26.1 million (3.5% of AUM)
- NASDAQ:BKNG: $22 million (2.9% of AUM)
- NASDAQ:AAPL: $20.8 million (2.8% of AUM)
As of Tuesday, shares of DoorDash were priced at $262.39, up 72% year-over-year and far outperforming the S&P 500's 15% gain.
Company Overview
| Metric | Value |
|---|---|
| Price (as of Tuesday) | $262.39 |
| Market Capitalization | $112 billion |
| Revenue (TTM) | $11.9 billion |
| Net Income (TTM) | $781 million |
Company Snapshot
- DoorDash offers logistics platforms and marketplaces (DoorDash, Wolt), membership services (DashPass, Wolt+), white-label delivery, and digital ordering/payment solutions for merchants.
- The company serves restaurants, retailers, and consumers in the United States and internationally, targeting both individual consumers and business clients seeking on-demand delivery solutions.
- It operates a network of over 23,000 employees and independent contractors, facilitating millions of deliveries each month through its technology-driven platform.
DoorDash, Inc. operates at scale in the on-demand logistics and delivery sector, connecting merchants, consumers, and independent drivers through its technology platforms. The company leverages a broad network and proprietary technology to support merchant growth and consumer convenience, driving revenue through diversified service offerings and memberships. DoorDash's competitive edge lies in its expansive marketplace reach and integrated solutions for both merchants and end users.
Foolish Take
Abacus FCF Advisors' DoorDash sale comes as the food delivery platform’s shares climbed more than 70% over the past year. For long-term investors, Abacus’s exit likely reflects a broader rebalancing trend—locking in gains after a period of rapid appreciation while pivoting toward companies with stronger dividend profiles and less cyclicality.
DoorDash’s fundamentals have strengthened sharply—the second quarter marked record highs in orders, gross order volume, and net income, with revenue up 25% year over year to $3.3 billion and adjusted EBITDA surging 52% to $655 million. Despite this, management warned of ongoing international risks and heavy investment needs as the company expands into new categories and geographies.
The firm reports Q3 earnings on November 5, when investors will watch whether margins hold amid rising competition and regulatory scrutiny. With DoorDash’s growth now moderating and valuation stretched, this next earnings call could prove pivotal in justifying its premium pricing.
Glossary
Assets Under Management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Liquidated: Sold off an entire investment position, converting it to cash.
13F: A quarterly SEC filing required from institutional investment managers disclosing their equity holdings.
White-label delivery: Delivery services provided by one company but branded as another company’s offering.
Proprietary technology: Technology owned and developed by a specific company, not available for public use.
Membership services: Subscription-based offerings providing special benefits or discounts to customers.
On-demand delivery: Delivery services that fulfill customer orders as soon as they are placed, typically via an app or website.
Outperforming: Achieving better returns or results compared to a benchmark or peer group.
Stake: The ownership interest or investment held in a company.
Marketplace: A digital platform connecting buyers and sellers to facilitate transactions.
TTM: The 12-month period ending with the most recent quarterly report.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AbbVie, Apple, Booking Holdings, DoorDash, and Mastercard. The Motley Fool has a disclosure policy.
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