Upslope capital
Upslope Capital Management
Dec 2024 → Dec 2024
Our archive holds 1 letter from this strategy, behind 3 investment theses and positions in 6 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year · follow all of Upslope capital for every strategy.
What it bought and sold
- New positionQinetiQ Group plcDec 2024
The Fund added three new disclosed longs: Charles River Labs (CRL), V.F. Corp (VFC), and QinetiQ (QQ.-LON).
- ExitedKongsberg Gruppen ASADec 2024
The Fund finished exiting Garmin (GRMN, technology business known for smartwatches and navigation systems) and Kongsberg (KOG-OSL, Norway-based aero/defense and maritime business), as previously noted, due to full valuations.
- ExitedNorth West Company Inc.Dec 2024
The Fund also exited North West (NWC-TO, Canadian specialty retailer), as the thesis appears reasonably well known today.
- TrimmedThe Hershey CompanyDec 2024
I’ve reduced the Fund’s position in BARN (and Hershey) significantly.
- ExitedWinpak Ltd.Dec 2024
Finally, Winpak (WPK-TO, plastic packaging company) was sold simply to make room for more attractive opportunities.
The Fund added three new disclosed longs: Charles River Labs (CRL), V.F. Corp (VFC), and QinetiQ (QQ.-LON).
The Fund finished exiting Garmin (GRMN, technology business known for smartwatches and navigation systems) and Kongsberg (KOG-OSL, Norway-based aero/defense and maritime business), as previously noted, due to full valuations.
Its investment theses
- Charles RiverDec 2024Charles River’s strong market position and improving fundamentals suggest potential upside as the biotech cycle turns
- QinetiQDec 2024QinetiQ is a high-quality UK defense company well-positioned to benefit from increased UK and European defense spending, with a strong financial model and undervalued shares.
- VF CorpDec 2024V.F. Corp's new leadership and financial improvements signal early but promising signs of a turnaround