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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
+12.4%
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
+$18M
(+4%)
Cap. Flow
-$28.4M
Cap. Flow
% of AUM
-6.06%
Top 10 Holdings %
Top 10 Hldgs %
40.94%
Holding
51
New
2
Increased
9
Reduced
4
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Integer Holdings
ITGR
|
+$7.92M |
| 2 |
Thermo Fisher Scientific
TMO
|
+$7.74M |
| 3 |
InMode
INMD
|
+$3.3M |
| 4 |
SolarEdge
SEDG
|
+$2.73M |
| 5 |
Arhaus
ARHS
|
+$2.05M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$18.9M |
| 2 |
Bristol-Myers Squibb
BMY
|
+$11.3M |
| 3 |
Best Buy
BBY
|
+$9.04M |
| 4 |
Jabil
JBL
|
+$7.13M |
| 5 |
Revvity
RVTY
|
+$6.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 44.53% |
| 2 | Consumer Discretionary | 20.06% |
| 3 | Industrials | 16.9% |
| 4 | Healthcare | 15.08% |
| 5 | Communication Services | 3.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Jabil
JBL
$31.6B
| $34.8M | 7.41% |
273,000
-56,000
| -17% | -$7.13M |
|
2
Applied Materials
AMAT
$366B
| $26.6M | 5.67% |
164,000
| – | – |
|
3
Ciena
CIEN
$53.6B
| $24M | 5.11% |
532,000
| – | – |
|
4
Motorola Solutions
MSI
$80.4B
| $17.9M | 3.82% |
57,000
| – | – |
|
5
Qualcomm
QCOM
$175B
| $17.2M | 3.67% |
119,000
| – | – |
|
6
Coherent
COHR
$54.7B
| $17.1M | 3.65% |
393,000
| – | – |
|
7
HP
HPQ
$27.5B
| $14.5M | 3.09% |
482,000
| – | – |
|
8
Global Payments
GPN
$24.3B
| $13.6M | 2.89% |
107,000
| – | – |
|
9
Elevance Health
ELV
$85.5B
| $13.3M | 2.84% |
28,000
| – | – |
|
|
SGI
10
Somnigroup International
SGI
$13.5B
| $13.1M | 2.79% |
257,000
| – | – |
|
11
Booking.com
BKNG
$155B
| $12.2M | 2.61% |
75,000
| – | – |
|
12
Jacobs Solutions
J
$17.8B
| $12.1M | 2.58% |
112,434
| – | – |
|
|
13
InMode
INMD
$855M
| $11.9M | 2.53% |
534,000
+147,000
| +38% | +$3.3M |
|
14
NVIDIA
NVDA
$5.25T
| $11.4M | 2.43% |
230,000
| – | – |
|
15
Abercrombie & Fitch
ANF
$6.59B
| $11.3M | 2.42% |
129,000
-24,000
| -16% | -$1.71M |
|
16
NVR
NVR
$17B
| $10.9M | 2.33% |
2,000
| – | – |
|
17
Tapestry
TPR
$25B
| $10.7M | 2.28% |
291,000
| – | – |
|
18
Lumentum
LITE
$80.3B
| $10.4M | 2.21% |
198,000
| – | – |
|
19
FedEx
FDX
$78.3B
| $9.64M | 2.06% |
38,000
-5,000
| -12% | -$1.27M |
|
20
Johnson Controls International
JCI
$84.6B
| $9.28M | 1.98% |
161,000
| – | – |
|
21
Microsoft
MSFT
$3.81T
| $9.23M | 1.97% |
25,000
| – | – |
|
22
Brinker International
EAT
$9.87B
| $9.21M | 1.96% |
213,000
| – | – |
|
|
23
Integer Holdings
ITGR
$4.26B
| $9.15M | 1.95% |
+92,000
| New | +$7.92M |
|
24
Align Technology
ALGN
$11.2B
| $9.1M | 1.94% |
33,000
+4,000
| +14% | +$948K |
|
25
Fortune Brands Innovations
FBIN
$5.43B
| $8.78M | 1.87% |
115,000
| – | – |
|
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North Growth Management's Q4 2023 Portfolio in Review
As of Q4 2023, North Growth Management held 51 positions worth $469M, up 4% from $451M the previous quarter. Its ten largest holdings account for 41% of the portfolio.
North Growth Management withdrew a net $28.4M in Q4 2023, closing 4 positions and reducing 4 holdings. Its most notable exit was Horizon Therapeutics Public Limited Company Ordinary Shares, an estimated $18.9M position sold in full.
By sector, the portfolio is most concentrated in Technology at 45% of assets, up from 43% a quarter earlier, followed by Consumer Discretionary and Industrials.
Against the trend, North Growth Management opened a new position in Integer Holdings worth $9.15M.
- North Growth Management's largest Q4 2023 buy was Integer Holdings: 92,000 shares worth $9.15M.
- North Growth Management added most to InMode in Q4 2023, an estimated $3.3M increase.
- North Growth Management's biggest Q4 2023 reduction was Jabil, cutting an estimated $7.13M.
- North Growth Management fully exited Horizon Therapeutics Public Limited Company Ordinary Shares in Q4 2023, selling an estimated $18.9M.
- North Growth Management's ten largest holdings make up 41% of its $469M portfolio in Q4 2023.
- North Growth Management opened 2 new positions and closed 4 in Q4 2023.
- North Growth Management's portfolio value rose 4% quarter-over-quarter to $469M.
Based on North Growth Management's 13F filing for Q4 2023, filed 7 Feb 2024.