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RCM

Rings Capital Management Portfolio holdings

AUM $197M
1-Year Est. Return 10.32%
This Fund
S&P 500
This Quarter Est. Return
+10.2%
1 Year Est. Return
-10.32%
3 Year Est. Return
+40.9%
5 Year Est. Return
+76.01%
10 Year Est. Return
–
AUM
$94.6M
AUM Growth
-$52.6M
Cap. Flow
-$64M
Cap. Flow %
-67.63%
Top 10 Hldgs %
100%
Holding
7
New
1
Increased
–
Reduced
2
Closed
2

Top Buys

Rank Stock Value
1
CHKP icon
Check Point Software Technologies
CHKP
+$20.4M

Top Sells

Rank Stock Value
1
MCO icon
Moody's
MCO
+$35.4M
2
SPGI icon
S&P Global
SPGI
+$23.4M
3
BNY
Bank of New York Mellon
BNY
+$22.2M
4
KMX icon
CarMax
KMX
+$3.35M

Sector Composition

Rank Sector Weight
1 Technology 47.3%
2 Financials 38.83%
3 Consumer Discretionary 13.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MCO icon
1
Moody's
MCO
$86.2B
$36.7M 38.83%
120,000
-117,000
-49% -$35.4M
MSFT icon
2
Microsoft
MSFT
$3.58T
$23.9M 25.3%
83,000
– –
CHKP icon
3
Check Point Software Technologies
CHKP
$13.4B
$20.8M 21.99%
+160,000
New +$20.4M
KMX icon
4
CarMax
KMX
$8.73B
$11.2M 11.9%
175,000
-50,000
-22% -$3.35M
HRB icon
5
H&R Block
HRB
$6.55B
$1.87M 1.98%
53,000
– –
BNY
6
Bank of New York Mellon
BNY
$108B
– –
-487,000
Closed -$22.2M
SPGI icon
7
S&P Global
SPGI
$126B
– –
-70,000
Closed -$23.4M

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Rings Capital Management's Q1 2023 Portfolio in Review

As of Q1 2023, Rings Capital Management held 7 positions worth $94.6M, down 36% from $147M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Rings Capital Management withdrew a net $64M in Q1 2023, closing 2 positions and reducing 2 holdings. Its most notable exit was S&P Global, an estimated $23.4M position sold in full.

By sector, the portfolio is most concentrated in Technology at 47% of assets, up from 14% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Rings Capital Management opened a new position in Check Point Software Technologies worth $20.8M.

  • Rings Capital Management's largest Q1 2023 buy was Check Point Software Technologies: 160,000 shares worth $20.8M.
  • Rings Capital Management's biggest Q1 2023 reduction was Moody's, cutting an estimated $35.4M.
  • Rings Capital Management fully exited S&P Global in Q1 2023, selling an estimated $23.4M.
  • Rings Capital Management's ten largest holdings make up 100% of its $94.6M portfolio in Q1 2023.
  • Rings Capital Management opened 1 new position and closed 2 in Q1 2023.
  • Rings Capital Management's portfolio value fell 36% quarter-over-quarter to $94.6M.

Based on Rings Capital Management's 13F filing for Q1 2023, filed 15 May 2023.