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NGM

North Growth Management Portfolio holdings

AUM $780M
1-Year Est. Return 102.77%
This Fund
S&P 500
This Quarter Est. Return
+13.61%
1 Year Est. Return
+102.77%
3 Year Est. Return
+230.6%
5 Year Est. Return
+253.58%
10 Year Est. Return
–
AUM
$469M
AUM Growth
+$29.3M
Cap. Flow
-$17.7M
Cap. Flow %
-3.77%
Top 10 Hldgs %
40.71%
Holding
48
New
3
Increased
3
Reduced
34
Closed
3

Top Buys

Rank Stock Value
1
GPN icon
Global Payments
GPN
+$10.7M
2
CRL icon
Charles River Laboratories
CRL
+$5.44M
3
WST icon
West Pharmaceutical
WST
+$2.92M
4
INMD icon
InMode
INMD
+$2.91M
5
ZYME icon
Zymeworks
ZYME
+$392K

Top Sells

Rank Stock Value
1
FISV
Fiserv Inc
FISV
+$10.2M
2
SYNH
Syneos Health, Inc. Class A Common Stock
SYNH
+$5.78M
3
RH icon
RH
RH
+$3.77M
4
DHI icon
D.R. Horton
DHI
+$3.53M
5
NVDA icon
NVIDIA
NVDA
+$3.25M

Sector Composition

Rank Sector Weight
1 Technology 43.55%
2 Consumer Discretionary 20.91%
3 Healthcare 18.48%
4 Industrials 13.52%
5 Communication Services 3.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JBL icon
1
Jabil
JBL
$31.6B
$33.5M 7.14%
380,000
-7,000
-2% -$564K
CIEN icon
2
Ciena
CIEN
$53.6B
$27.2M 5.8%
518,000
-9,000
-2% -$449K
AMAT icon
3
Applied Materials
AMAT
$366B
$20.6M 4.39%
168,000
-2,000
-1% -$230K
HZNP
4
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$17.1M 3.64%
156,000
-3,000
-2% -$332K
MSI icon
5
Motorola Solutions
MSI
$80.4B
$16.7M 3.56%
58,000
-1,000
-2% -$264K
SEDG icon
6
SolarEdge
SEDG
$1.93B
$15.7M 3.35%
52,000
-1,000
-2% -$305K
QCOM icon
7
Qualcomm
QCOM
$175B
$15.5M 3.31%
122,000
-2,000
-2% -$249K
BMY icon
8
Bristol-Myers Squibb
BMY
$136B
$15.2M 3.25%
220,000
-3,000
-1% -$212K
DHI icon
9
D.R. Horton
DHI
$41.2B
$15.1M 3.21%
154,000
-37,000
-19% -$3.53M
HPQ icon
10
HP
HPQ
$27.5B
$14.4M 3.08%
492,000
-9,000
-2% -$258K
ELV icon
11
Elevance Health
ELV
$85.5B
$13.3M 2.83%
29,000
-3,000
-9% -$1.43M
TPR icon
12
Tapestry
TPR
$25B
$12.7M 2.71%
295,000
-5,000
-2% -$215K
SGI
13
Somnigroup International
SGI
$13.5B
$11.8M 2.51%
298,000
-4,000
-1% -$159K
INMD icon
14
InMode
INMD
$855M
$11.8M 2.5%
368,000
+85,000
+30% +$2.91M
COHR icon
15
Coherent
COHR
$54.7B
$11.5M 2.45%
302,000
-5,000
-2% -$203K
J icon
16
Jacobs Solutions
J
$17.8B
$11.2M 2.38%
114,852
-2,418
-2% -$241K
NVDA icon
17
NVIDIA
NVDA
$5.25T
$11.1M 2.37%
400,000
-150,000
-27% -$3.25M
FDX icon
18
FedEx
FDX
$78.3B
$11M 2.34%
48,000
-5,000
-9% -$1.02M
LITE icon
19
Lumentum
LITE
$80.3B
$10.9M 2.32%
202,000
-3,000
-1% -$167K
GPN icon
20
Global Payments
GPN
$24.3B
$10.5M 2.23%
+99,000
New +$10.7M
BBY icon
21
Best Buy
BBY
$17.4B
$10.4M 2.22%
133,000
-2,000
-1% -$165K
JCI icon
22
Johnson Controls International
JCI
$84.6B
$9.89M 2.11%
164,000
-3,000
-2% -$192K
ALGN icon
23
Align Technology
ALGN
$11.2B
$9.75M 2.08%
29,000
-7,000
-19% -$2.07M
TXN icon
24
Texas Instruments
TXN
$236B
$9.37M 2%
50,000
-1,000
-2% -$176K
BKNG icon
25
Booking.com
BKNG
$155B
$9.35M 1.99%
100,000
– –
1
2

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North Growth Management's Q1 2023 Portfolio in Review

As of Q1 2023, North Growth Management held 48 positions worth $469M, up 6.7% from $440M the previous quarter. Its ten largest holdings account for 41% of the portfolio.

North Growth Management withdrew a net $17.7M in Q1 2023, closing 3 positions and reducing 34 holdings. Its most notable exit was Fiserv Inc, an estimated $10.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 44% of assets, up from 43% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, North Growth Management opened a new position in Global Payments worth $10.5M.

  • North Growth Management's largest Q1 2023 buy was Global Payments: 99,000 shares worth $10.5M.
  • North Growth Management added most to InMode in Q1 2023, an estimated $2.91M increase.
  • North Growth Management's biggest Q1 2023 reduction was RH, cutting an estimated $3.77M.
  • North Growth Management fully exited Fiserv Inc in Q1 2023, selling an estimated $10.2M.
  • North Growth Management's ten largest holdings make up 41% of its $469M portfolio in Q1 2023.
  • North Growth Management opened 3 new positions and closed 3 in Q1 2023.
  • North Growth Management's portfolio value rose 6.7% quarter-over-quarter to $469M.

Based on North Growth Management's 13F filing for Q1 2023, filed 3 May 2023.