Here’s Headwaters Capital Management’s Investment Thesis for Driven Brands (DRVN)

Core Insights - Headwaters Capital Management's third-quarter 2025 investor letter focused on AI and reported a portfolio return of -2.7% (-2.9% net), underperforming the Russell Mid Cap Index which gained +5.3% [1] Company Summary - Driven Brands Holdings Inc. (NASDAQ:DRVN) was highlighted as a key stock in the investor letter, providing automotive services to retail and commercial customers [2] - The one-month return for Driven Brands Holdings Inc. was -12.49%, while its shares increased by 4.42% over the last 52 weeks [2] - As of October 13, 2025, Driven Brands Holdings Inc. closed at $15.13 per share, with a market capitalization of $2.486 billion [2] - The company was recommended for a starter position by Headwaters Capital Management during the quarter [3]