Rush Island’s Rollercoaster Ride on Six Flags Stock

What happened

Let’s cut to the chase: Rush Island Management sold 3.3 million shares of Six Flags (FUN) in Q3 2025, like someone finally realizing their Halloween candy stash isn’t actually gold. Their stake now? A paltry 487,121 shares valued at $11.07 million. That’s the financial equivalent of showing up to a BBQ with a single hot dog.

What else to know

Six Flags now makes up 0.76% of Rush Island’s reportable assets-down from 7.5%. Imagine if your Netflix queue suddenly dropped from The Crown to reruns of The Office. Not ideal.

Top five holdings as of Sept. 30, 2025:

SBA Communications: $182.4 million (12.5% of AUM) – because nothing says “security” like cell towers.
Essex Property Trust: $159 million (10.9% of AUM) – real estate, but make it apartments.
Healthcare Realty Trust: $140.7 million (9.6% of AUM) – hospitals, but not the fun kind.
Federal Realty Investment Trust: $132.9 million (9.1% of AUM) – shopping malls, but make them hip.
NNN REIT: $130.68 million (9.0% of AUM) – triple-net leases, because who doesn’t love fixed costs?

Company overview

Metric	Value
Price (as of market close 2025-11-14)	$14.60
Market capitalization	$1.48 billion
Revenue (TTM)	$3.14 billion
Net income (TTM)	($1.75 billion)

Company snapshot

Six Flags operates amusement parks, water parks, and resorts. Think of it as Disney for people who still believe in “thrill” but forgot how to spell “fun.”
It targets families, thrill-seekers, and tourists. Also: people who think rollercoasters are a legitimate form of cardio.
5,000 employees. Charlotte, NC headquarters. If only they could theme their boardroom after a rollercoaster loop.

Six Flags is the amusement park of the stock market-colorful, chaotic, and somehow still losing money. With 17 U.S. parks and outposts in Canada and Mexico, they’ve mastered the art of charging admission just to breathe the same air as a loony tune.

Foolish take

Rush Island’s timing? Questionable. While they were bailing, Six Flags was busy doing what it does best: swapping CEOs like they’re stale cotton candy. Selim Bassoul, the guy who tried to fix this rollercoaster of a company, stepped down in October. And let’s not forget his tenure at Middleby Corporation, where he probably learned that turning around a kitchen appliance company is easier than turning around a park full of screaming children.

But hey, John Reilly, the new CEO, has big shoes to fill-or should I say, big rollercoaster cars. With the stock down 69% YTD, maybe Rush Island will come back for a second ride. Or maybe they’ll just stick to SBA Communications and pretend they’re not missing out on the world’s most expensive bumper cars.

Until then, we’re left wondering if Six Flags will ever figure out how to monetize the smell of cotton candy without charging $25 for a funnel cake. Only time-and the next 13F filing-will tell.

Glossary

13F reportable assets: The SEC’s version of a financial diary. Mandatory reading, unless you hate suspense.
AUM (Assets Under Management): The total value of stuff a fund owns. Because nothing says “success” like managing someone else’s money.
Position value: How much your investment is worth. Usually less than you hoped.
Top five holdings: The fund’s favorite investments. Like your top five guilty pleasures, but with more spreadsheets.
Quarter: Three months. The amount of time it took Rush Island to lose faith in Six Flags.
Market value: What something is worth in the real world. Often different from what it’s worth in your dreams.
Intellectual property: Legal jargon for “we own the rights to things that aren’t even ours.”
TTM: Twelve-month period. Because nothing’s more exciting than looking at the past.

2025-12-10 22:02