PSquared Asset Management AG
Long book
$287.4M
Q1 2026
Positions
15
Top-10 weight
92%
concentration
Last quarter
+4.3%
SPY +14.8%
Turnover
65%
of book per quarter
Strategy in plain words
auto-generated from filingsPSquared Asset Management AG is a concentrated fundamental stock-picker, running a $287.4M US long book across 15 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: WARNER BROS DISCOVERY INC, IHS HOLDING LTD, SOLARIS RESOURCES INC, HOLOGIC INC, NORFOLK SOUTHERN CORP.
Over the last 8 quarters its long book ran on average 6.4pp per quarter ahead of the S&P 500, beating the index in 5 of 8 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-9.4%
Q2 2024
+6.2%
Q3 2024
+22.1%
Q1 2025
+33.5%
Q2 2025
+39.7%
Q3 2025
+5.6%
Q4 2025
-6.5%
Q1 2026
+4.3%
Sector allocation
Communications 29%
Other 28%
Industrials 18%
Materials 12%
Healthcare 10%
Financials 3%
Long book by quarter
What does PSquared Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| WBD WARNER BROS DISCOVERY INC | Communications | 1.7M | $45.7M | 15.9% | +7.9% |
| IHS IHS HOLDING LTD | Communications | 4.3M | $35.7M | 12.4% | New |
| SLSR SOLARIS RESOURCES INC | Materials | 4.1M | $35.3M | 12.3% | +3.1% |
| HO1 HOLOGIC INC | — | 405.9K | $30.7M | 10.7% | New |
| NSC NORFOLK SOUTHERN CORP | Industrials | 96.4K | $27.7M | 9.6% | +4.7% |
| GTLS CHART INDUSTRIES INC | Industrials | 117.4K | $24.3M | 8.4% | +6.1% |
| AAUC ALLIED GOLD CORP | — | 740.0K | $22.9M | 8.0% | New |
| AM6 AMICUS THERAPEUTICS INC | — | 1.1M | $15.9M | 5.5% | +4.9% |
| PEN PENUMBRA INC | Healthcare | 42.8K | $14.0M | 4.9% | New |
| RVMD REVOLUTION MEDICINES INC | Healthcare | 138.3K | $13.4M | 4.7% | New |
| PRA PROASSURANCE CORP | Financials | 368.1K | $9.1M | 3.2% | +6.3% |
| ACLXGBX ARCELLX INC | — | 55.3K | $6.3M | 2.2% | New |
| OLPX OLAPLEX HOLDINGS INC | Other | 1.4M | $2.9M | 1.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 15 | $287.4M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 12 | $213.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 9 | $126.0M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 8 | $455.1M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 6 | $133.8M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 3 | $219.2M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 10 | $416.8M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 13 | $483.7M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 10 | $641.7M | canonical | SEC ↗ |
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