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Upslope capital

Dec 2024 → Jul 2026 · 3 funds

Our archive holds 8 letters from Upslope capital, behind 15 investment theses and positions in 8 companies. Every quote below is copied verbatim from the letter it came from.

8
Letters
8
Companies
1
Moves
15
Theses

What they bought and sold · 1 move

  • New positionMagnum Ice Cream Co.
    July 2026
    “The only meaningful addition to the long portfolio was, ironically, a company Fundsmith exited during the quarter (Magnum Ice Cream Co).”
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Companies held · 8

Every company Upslope capital has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 15

  • Magnum Ice Cream Co
    July 2026

    Magnum Ice Cream Co is a dominant global ice cream business with strong brands, a complex supply chain, margin upside, and an attractive valuation.

    Read the full thesis
  • Stella-Jones
    March 2026

    Stella-Jones is a dominant North American specialty wood products maker with secular infrastructure tailwinds, disciplined capital allocation, and attractive valuation.

    Read the full thesis
  • Jack Henry & Associates
    March 2026

    Jack Henry & Associates is a dominant core banking and payments software provider with high recurring revenues, improving margins, and an attractive de-rated valuation.

    Read the full thesis
  • Kesko
    March 2026

    Kesko is a diversified Finnish retailer with a dominant grocery core and expansion opportunities in building products, supported by competitive advantages and mid-cycle valuation.

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  • Booz Allen Hamilton
    December 2025

    Booz Allen Hamilton is a government-focused tech consultant whose temporary headwinds and lower valuation are offset by long-term tailwinds in geopolitics, technology, and government spending.

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  • Crown Holdings, Inc.
    December 2025

    Crown Holdings, Inc. is a globally diversified can producer trading at decade-low valuation and leverage with secular growth, balance sheet optionality, and buybacks supporting an attractive setup.

    Read the full thesis
  • Fanuc Corporation
    December 2025

    Fanuc Corporation is a dominant industrial automation and robotics leader poised to benefit from physical AI and reshoring tailwinds, supported by a fortress balance sheet and reasonable valuation.

    Read the full thesis
  • Henry Schein, Inc.
    December 2025

    Henry Schein, Inc. is the leading dental distributor with KKR’s stake catalyzing efficiency and higher-margin growth, making its defensive and attractively valued shares appealing.

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  • West Pharmaceutical Services
    September 2025

    West Pharmaceutical Services is a leading producer of injectable drug delivery components, poised for continued growth due to advancements in drug development and reshoring trends, with a valuation that appears reasonable despite its historical premium.

    Read the full thesis
  • Bio-Rad Laboratories
    September 2025

    Bio-Rad Laboratories is a leading global producer of clinical diagnostics and life sciences products, with a significant stake in Sartorius, suggesting an attractive valuation amidst recent market de-ratings.

    Read the full thesis
  • STERIS
    September 2025

    STERIS is a leading player in infection prevention and sterilization with strong organic growth, a reasonable valuation, and favorable long-term industry trends.

    Read the full thesis
  • Smiths Group
    June 2025

    Smiths Group is a UK-based industrial conglomerate undergoing a strategic transformation to focus on its profitable core businesses while simplifying its portfolio, supported by strong capital returns and a robust balance sheet.

    Read the full thesis

Letter archive · 8

2026

2025

2024

Funds · 3

  • Upslope capital6
  • Upslope Capital Long/Short Strategy1
  • Upslope Capital Management1

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