Core Insights - Liberty Park Fund reported a net return of 1.13% for Q3 2025, significantly underperforming the Russell 2000's return of 12.40% [1] - The fund's long positions increased by 14.42%, contributing 12.38% on a weight-adjusted basis, while short positions rose by 18.60%, detracting 10.85% [1] - The average gross exposure was 142.48%, and the average net exposure was 33.61% [1] Company Analysis: DMC Global Inc. (NASDAQ:BOOM) - DMC Global Inc. is a provider of products and engineered solutions for various markets, including construction and energy [2] - The stock had a one-month return of 7.73% but lost 6.95% over the last 52 weeks, closing at $6.69 per share with a market capitalization of $137.75 million on December 31, 2025 [2] - The company experienced a 1% decline in consolidated sales to $151.5 million for Q3 2025, while adjusted EBITDA rose by 51% year-over-year to $8.6 million [3] - The fund closed its position in DMC Global Inc. at a modest loss due to disappointing guidance and a belief that an activist shareholder's campaign would not succeed [3] - DMC Global Inc. was held by 13 hedge fund portfolios at the end of Q3 2025, a decrease from 14 in the previous quarter [3] - The fund suggests that certain AI stocks may offer greater upside potential compared to DMC Global Inc. [3]