The $41 Million Contrarian Bet on Floor & Decor - And Why the Numbers Aren't Convincing Yet

A fund called Hook Mill Capital bought 635,060 shares of Floor & Decor in Q4 2025, spending an estimated $41 million when the stock was already down 30% over the trailing year. The filing surfaced in mid-February, and the narrative was immediate: a smart money contrarian playing the bottom of a cyclical trough.