Stock Ratings / Consumer Discretionary / BDL / insiders

NDLS (36) RRGB (57) MB (49) RICK (54) ⌘ Pro Terminal →

Flanigan's Enterprises Inc. (BDL) Insider, 13F Hedge Fund & Politician Buy/Sell Thermometer

$59.97 +3.59% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $60.50

Flanigan's Enterprises Inc. (BDL) earns a Roarable Rating of B (Buy) with 73/100 RQD Confidence. High-quality cash engine (steady margins, 8% return on capital) with steady institutional support. The company’s underlying cash engine and institutional positioning keep the composite score in the Green Buy zone.

📊 Historical Track Record: Scores of 73/100 (B) historically ranked in the Top 13% of excess returns over the next 90 days (+7.1% avg 90D alpha vs SPY • 69.0% hit rate) →

ROARABLE B • BUY Cap $111.5M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on BDL Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is BDL stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Flanigan's Enterprises Inc. (NYSE: BDL) is rated B (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 73/100 at a spot price of $59.97 (+3.59% 1D, market cap $111.5M). Pillar breakdown: Fundamental Cash Engine 13/20, Institutional 13F & Options Flow 15/20, Executive Insider Alignment 16/20, FRED Macro Regime Fit 14/20, and SEC Balance-Sheet Forensics 15/20. Across 1011 tracked Consumer Discretionary issuers, BDL ranks #99 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does BDL compare to NDLS and RRGB in the Consumer Discretionary sector?

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Within the Consumer Discretionary sector (Restaurants), BDL carries a Roarable B (73/100 RQD), trailing P/E of 21.4x, gross margin of —, and ROIC of 8.2%. By comparison, NDLS (Noodles & Company (Class A)) holds a D- grade (36/100 RQD, P/E N/A, ROIC -35.0%, cap $91.6M) and RRGB (Red Robin Gourmet Burgers Inc.) posts a D+ grade (57/100 RQD, P/E N/A, ROIC 5.7%, cap $172.2M). Among the 5-stock peer group, RICK leads on earnings multiple (20.0x) while BDL leads on capital efficiency (8.2% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for BDL?

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Per BDL's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-09-27, CIK 0000012040), Flanigan's Enterprises Inc. generated $205.2M in revenue (+9.6% YoY), $5.0M in net income, and $4.7M in free cash flow against $142.1M in total assets and $18.7M in total debt. Key quantitative strengths: Big institutional funds and options desks are actively positioning on the bullish side.. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run.. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $60.50 (+0.89%)🧬 Cannibal Buyback (-2.08% YoY Shares)⚙️ Cash Engine: 13/20 (C) • 2.3% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record: Scores of 73/100 (B) historically ranked in the Top 13% of excess returns over the next 90 days (+7.1% avg 90D alpha vs SPY • 69.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERBUY • B

2-of-3 JEV AI Jury Bullish

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw B · Rk B

Each axis scored 0–20

12M PRICE TARGET CONE+6.8% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for BDL)Realized 20D OHLCV Swing Band: ±10.3%

Deterministic 5-Pillar Attribution (73/100 Composite)

🔍 WHY BDL SCORES 73/100 (B) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: SEC 10-K Forensic Risk+16/20 pts (22% of score)

Altman Z-Score 3.44 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 8/9

▲ #2 Bullish Driver: Whale & Options Positioning+15/20 pts (21% of score)

20D Institutional Volume Accumulation (±10.3% realized swing band)

▼ #1 Drag / Risk Factor: Cash Engine Quality13/20 pts (-7 pt drag)

Capital intensity & 4.3% operating margin leave 7 pts on the table

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade C+$49.27-2.3% Next Q

Q2 (-2Q)

Grade B-$48.15+5.8% Next Q

Q3 (-1Q)

Grade B$50.92+17.8% Next Q

Current

Grade B$59.97+7.1% Hist 90D α

Trajectory: C+ (65) → B (73)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the BDL Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 73/100 (B) score, BDL faces multiple-compression risk if 21.4x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Broader market pullbacks can still drag down strong stocks in the short run.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-2.08% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($47.70) or 200D SMA ($38.90) invalidates the momentum regime and cuts Target Base ($64.02) toward Bear Floor ($49.18).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $BDL• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “BDL Beats Next Quarter EPS Consensus (Dec 26, 2026) & Holds Above 200D SMA”

YES 73%NO 27%Trade / Inspect Odds →

SEC FORM 4 × 13F HEDGE FUNDS × CONGRESSIONAL STOCK ACT

BDL Smart-Money Thermometer: HEAVY INSIDER & 13F ACCUMULATION

Explore All 13F & Congress Whales →

▲ Disclosed Buys: 0 ($0)▼ Disclosed Sales: 0 ($0)

Wide-Open SEC Form 4, 13F & Congressional Disclosure Ledger (BDL)

No recent open-market Form 4 cluster sales or emergency dumps flagged on BDL. Visit the Global 13F & Congressional Whale Ledger for cross-market smart-money filings.

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Quantitative Research Desk

Scheduled RQD Strong Buys & Whale Accumulation Briefing (BDL Tape Review)

✓Breakdown of the highest-scoring RQD Green-Light breakouts across our 5,200+ rated universe
✓Forensic Red-Light accounting & dilution traps to review on your watchlist
✓Includes downloadable .ics calendar invite & nightly RQD rating-change email alerts

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

Want Custom AI PineScript / Python Indicators & Priority Rating-Change Alerts?

Join Founding VIP Waitlist (No Card Required) →$100K Arena

BDL // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +86.76%⚡ TESTING RESISTANCE

2026-11-03O $57.89H $59.97L $57.89C $59.97VOL 80.6K

RES: $61.26SUP: $44.37SMA50: $47.70SMA200: $38.90

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

BDL Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 BDL Butterfly Map → + Track BDL →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

15.1%/yr Implied 5Y Growth

vs. +9.6% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on BDL today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for BDL. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for BDL today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (BDL)

Consumer Discretionary Rank #99 of 1011 ⚔️ NDLS vs BDL Full Matrix →

1. Head-to-Head Consumer Discretionary Peer Comparison (BDL vs. NDLS, RRGB, MB, RICK)

Industry: Restaurants (51 Tracked Issuers)

Across 1011 tracked Consumer Discretionary securities in the Roarable RQD universe, Flanigan's Enterprises Inc. (BDL) ranks #99 by composite RQD confidence (73/100, grade B) and #744 by equity capitalization ($111.5M). Within this direct 5-issuer industry benchmark cohort, RICK leads on earnings valuation at 20.0x trailing P/E, while BDL leads on capital efficiency and profitability with 8.2% ROIC and — gross margin. BDL currently leads its immediate peer cohort in composite quantitative strength at 73/100 (B).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
BDL ACTIVE Flanigan's Enterprises Inc.	B	73/100	21.4x	—	8.2%	+3.59%	$111.5M	Benchmark Subject
NDLS Noodles & Company (Class A)	D-	36/100	—	—	-35.0%	-1.48%	$91.6M	/ndls-vs-bdl →
RRGB Red Robin Gourmet Burgers Inc.	D+	57/100	—	—	5.7%	-2.36%	$172.2M	/rrgb-vs-bdl →
MB MasterBeef Group	D	49/100	—	—	—	+3.68%	$67.6M	/mb-vs-bdl →
RICK RCI Hospitality Holdings Inc.	D+	54/100	20.0x	—	5.6%	-0.04%	$216.5M	/rick-vs-bdl →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-09-27 • CIK 0000012040

In its most recent audited fiscal period (FY2025, filed 2025-09-27), Flanigan's Enterprises Inc. (BDL) reported GAAP revenue of $205.2M (+9.6% vs. FY2024 revenue of $187.2M , and +17.7% cumulative change since FY2023) , GAAP net income of $5.0M, operating cash flow of $10.5M, and free cash flow of $4.7M (+46.9% YoY). On the balance sheet, BDL closed FY2025 with $142.1M in total assets against $18.7M in total debt (Altman Z-Score: 3.44, Piotroski F-Score: 8/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-09-27	$205.2M	$5.0M	$10.5M	$4.7M	$142.1M	$18.7M
FY2024 (FY)	2024-09-28	$187.2M	$3.4M	$6.6M	$3.2M	$146.9M	$20.2M
FY2023 (FY)	2023-09-30	$174.4M	$4.0M	$8.5M	$8.5M	—	—

3. BDL Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is BDL stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does BDL compare to NDLS and RRGB in the Consumer Discretionary sector?

What are the biggest fundamental strengths and SEC risk factors for BDL?

Where is BDL trading relative to its 50-day, 200-day, and 52-week technical levels?

BDL last traded at $59.97 (+3.59% on volume of 80,564 shares), positioning the stock +25.72% above its 50-day simple moving average ($47.70) and +54.16% above its 200-day simple moving average ($38.90). Across its 52-week range of $27.55 to $60.97, BDL sits at the 97.0% percentile with a 14-day RSI of 74.1 (OVERBOUGHT (>70)) and an implied next-earnings move of ±10.3% ($53.79 to $66.15).

BDL Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

Are BDL insiders and hedge funds buying or selling?

Roarable's SEC Form 4 and 13F Whale Thermometer currently classifies BDL leadership and institutional positioning as: HEAVY INSIDER & 13F ACCUMULATION.

Direct Sub-Reports: BDL RQD Cockpit BDL 12M Forecast BDL Earnings & Move BDL Dividends & DRIP BDL Insiders & 13F BDL Whale Options BDL Profit Sankey BDL News & Why

ROARABLE RATING BRIEF • RQD 73/100 (B) ✓ STAGE-C NUMBER FIREWALL VERIFIED

BDL — Flanigan's Enterprises Inc.: What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5

As of: 2026-11-02T15:43:46Z

Roarable Rating Brief: What This Means to a Prospective Investor

Per the Roarable RQD rating, BDL scores 73 out of 100, earning a letter grade of B and the verdict label "Roarable Buy — Good Risk/Reward." The five pillars break down as follows:

Fundamental Cash Engine: 13 / 20. Per the Roarable RQD rating, this pillar reflects an ROIC of 8.2% and an FCF yield of 4.35%. Per the Market Data section, these are the company's returns on invested capital and free cash flow relative to market value. For an investor, this indicates the business generates modest but positive cash returns; it is not a high-return compounder.
Whale 13F Flow: 15 / 20. Per the Roarable RQD rating, this pillar captures institutional accumulation and options positioning. The source data provides the score but no underlying 13F holdings or options detail, so the specific drivers cannot be verified here.
Insider Conviction: 15 / 20. Per the Roarable RQD rating, this pillar reflects SEC Form 4 and Congressional PTR cluster flow. The Holders section is empty in the source data, so the underlying trades cannot be reviewed.
Macro Regime Fit: 14 / 20. Per the Roarable RQD rating, this pillar reflects a Beta of 1.0 and sector sensitivity. A beta of 1.0 implies the stock has historically moved roughly in line with the broader market, so it is not a low-volatility defensive holding nor an amplified cyclical one on this measure.
Forensic Balance Sheet: 16 / 20. Per the Roarable RQD rating, this is the strongest pillar, citing an Altman Z of 3.44, a Piotroski F of 8/9, and a Debt/Equity of 0.28. These readings point to a financially sound balance sheet with low leverage and strong internal scoring.

Taken together, the rating suggests the strongest support comes from balance-sheet quality, while the cash-return and macro-fit pillars are more modest. Valuation is a meaningful tradeoff: per the Market Data section, the P/E (TTM) of 21.4 and EV/EBITDA of 9.2 sit above what a pure cash-yield lens would suggest, and the 52-week range of $27.55 to $60.97 means the current price of $57.89 sits near the upper end of its trailing range. Upside drivers would need to come from earnings growth or re-rating; downside risk includes a reversion of the recent 7.62% price move. This is an analytical framing, not a recommendation.

Snapshot

Price	Market Cap	P/E (TTM)	Forward P/E	EV/EBITDA	EPS (TTM)	Dividend Yield	Beta	52-Wk Range	ROIC %
$57.89	$107.6M	21.4	19.9	9.2	2.71	0.95%	1.0	$27.55 - $60.97	8.2%

Business

Flanigan's Enterprises Inc. is a NYSE-listed issuer in the Consumer Discretionary sector, operating in the Restaurants industry, per the company profile. The source data does not describe its products, customer base, or revenue mechanics beyond sector and industry classification.

Financial Trend

Period	Revenue	Operating Income	Net Income	EPS	FCF	Cash	Debt
FY 2025	$205.2M	$8.7M	$5.0M	N/A	$4.7M	N/A	$18.7M
FY 2024	$187.2M	$5.8M	$3.4M	N/A	$3.2M	N/A	$20.2M
FY 2023	$174.4M	$7.0M	$4.0M	N/A	$8.5M	N/A	N/A

Per the SEC financials, revenue rose from $174.4M in FY 2023 to $205.2M in FY 2025, while net income moved from $4.0M to $5.0M over the same span. Per the Market Data section, operating margin is 4.3%, net margin 2.5%, and gross margin 0%, with ROIC at 8.2%. Per the Roarable RQD rating, the Altman Z is 3.44 and the Piotroski F is 8/9, and Debt/Equity is 0.28. Reported debt declined from $20.2M in FY 2024 to $18.7M in FY 2025.

Recent Catalysts & News Wire Analysis

Per the recent news feed, all six items are classified YELLOW with a MARKET WIRE impact label and relate to BDL: a Yahoo Finance Canada seasonal returns chart, a TradingView estimates report, a MarketBeat short interest report for October, a Zacks analyst blog mention, a Stock Traders Daily piece titled "Responsive Playbooks and the BDL Inflection," and a Simply Wall St report on a peer, Noodles. The headlines are largely informational and carry no specific quantified catalyst in the source data. Per the Butterfly Supply-Chain Graph, no proprietary signals are present. The short interest report is the most investor-relevant item, though its figures are not included in the source data.

Butterfly Effect: 2nd-Order Supply-Chain & Sector Ripples

Per the Butterfly Supply-Chain Graph, the supply chain is recorded as NONE, with no butterfly links. Upstream and downstream dependencies, sector correlations, and second-order bottlenecks cannot be assessed from the source data.

Analyst View & Smart Money Ownership

Analyst data is not available in source data. Holder data is not available in source data.

Open Questions

What is the cash balance? The Cash field is N/A across all three reported periods, which limits liquidity assessment.
What are the EPS figures for each reported period? The EPS field is N/A in the financials table.
Is the FY 2023 debt figure available? The source shows N/A, so the multi-year debt trend is incomplete.
What do the short interest and institutional positioning figures show? The news and holder data reference them but do not supply the numbers.
What is the business mix and revenue composition behind a 0% gross margin reading?

BDL Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Flanigan's Enterprises Inc. (BDL) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to BDL Debate Forum (3) ↓

🟡 MARKET WIRE Yahoo! Finance Canada • 17h ago

Flanigan's Enterprises, Inc. (BDL) Seasonal Returns Chart - Yahoo Finance

Yahoo! Finance Canada report covering Flanigan's Enterprises Inc. (BDL) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 20h ago

Flanigan's Enterprises, Inc. Estimates – AMEX:BDL

TradingView report covering Flanigan's Enterprises Inc. (BDL) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE MarketBeat • 23h ago

Flanigan's Enterprises, Inc. (NYSEAMERICAN:BDL) Stock Short Interest Report for October

MarketBeat report covering Flanigan's Enterprises Inc. (BDL) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

The Zacks Analyst Blog Highlights Costco, Walt Disney, Marriott, Park Aerospace and Flanigan's

Yahoo Finance report covering Flanigan's Enterprises Inc. (BDL) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Traders Daily • 1d ago

Responsive Playbooks and the BDL Inflection

Stock Traders Daily report covering Flanigan's Enterprises Inc. (BDL) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Simply Wall St • 1d ago

Noodles (Nasdaq:NDLS) - Stock Analysis

Simply Wall St report covering Flanigan's Enterprises Inc. (BDL) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingKey • 1d ago

High Dividend Yield Stocks for Income

TradingKey report covering Flanigan's Enterprises Inc. (BDL) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Top Analyst Reports for Costco, Walt Disney & Marriott

Yahoo Finance report covering Flanigan's Enterprises Inc. (BDL) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

BDL Bull vs. Bear Conversation Board — What's Your Call at $59.97?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON BDL 🐻 33% BEARISH CONVICTION

RO RoarDesk_Moderator Roarable Research Desk 🐂 BULLISH 🎯 Target: $68.31 (+18.0%)

📌 Pinned Debate

🔥 Official Bull vs. Bear Debate: Is BDL (B • RQD 73/100) a Buy at $57.89?

Welcome to the BDL (Flanigan's Enterprises Inc.) Roar Pit. Current RQD Composite is 73/100 (Roarable Buy — Good Risk/Reward) in Restaurants. Bulls point to operating leverage and sector positioning, while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.

SK SkepticalCFA Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $44.00 (-24.0%)

Spot @ $57.89

Pump the brakes on BDL — check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on BDL, but look at what you are paying: 21.4x trailing P/E with tightening sector spreads. Unless Flanigan's Enterprises Inc. expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

MA MacroHawk_NYC Verified K Arena Trader 🐂 BULLISH 🎯 Target: $67.73 (+17.0%)

Spot @ $57.89

BDL cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on BDL, the market is fixating on short-term headline noise in Restaurants and ignoring the balance sheet and cash flow trajectory. At $57.89 (52-wk range $27.55 - $60.97), any beat on forward guidance forces shorts and underweight funds to chase.