2 months ago
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Soumya Eswaran
Wed, July 22, 2026 astatine 8:54 AM CDT 3 min read
Upslope Capital Management, an concern absorption company, released its second-quarter 2026 capitalist letter. A transcript of the missive tin beryllium downloaded here. Upslope aims to supply attractive, equity-like returns portion reducing marketplace hazard and keeping debased correlation with accepted equity strategies. The portfolio tailed successful the speculative mania situation arsenic investors broadly avoided boring, cash-flowing, non-AI stocks. The Fund returned -6.6% (net) successful Q2 compared to +14.3% instrumentality for the S&P Midcap 400 ETF (MDY) and +10.3% summation for the HFRX Equity Hedge Index. In addition, you tin cheque the Fund's apical 5 holdings to find its champion picks for 2026.
In its Q2 2026 capitalist letter, Upslope Capital Management highlighted The Magnum Ice Cream Company N.V. (NYSE:MICC). The Magnum Ice Cream Company N.V. (NYSE:MICC) is simply a Netherlands-based crystal pick institution that offers products nether the Magnum, Ben & Jerry's, Cornetto, and Wall's brands. On July 21, 2026, The Magnum Ice Cream Company N.V. (NYSE:MICC) closed astatine $17.88 per share, reflecting a marketplace capitalization of $10.96 billion. The Magnum Ice Cream Company N.V. (NYSE:MICC) posted a one-month instrumentality of 4.99%, and YTD its shares gained 12.81%.
Upslope Capital Management stated the pursuing regarding The Magnum Ice Cream Company N.V. (NYSE:MICC) successful its Q2 2026 capitalist update:
"The Magnum Ice Cream Company N.V. (NYSE:MICC): Magnum is simply a pure-play planetary crystal pick institution spun retired of Unilever astatine the extremity of 2025. It is by acold the largest crystal pick institution successful the satellite (~21% share) with astir treble the marketplace stock of the #2 player, Froneri (private). Beyond Magnum and Froneri, the largest players clasp 2% stock astatine most. Magnum and Froneri are uncommon for their exclusive absorption connected crystal cream. Key brands owned by Magnum see Ben & Jerry's, Breyer's, Cornetto, Wall's, and of people the flagship Magnum brand. Geographically, Magnum's income are balanced by region, with astir 40% each successful the Americas and Europe/ANZ, and 25% successful Asia, Middle East, and Africa. Emerging Markets are a cardinal maturation driver, contributing ~30% of sales.
Magnum initially came connected to Upslope's radar arsenic I reviewed out-of-favor user staples businesses but sought those with manageable GLP-1 risks owed to little U.S. income attraction (Magnum is ~25% U.S.). Upslope's cardinal thesis points for Magnum see the following: Dominant, antiaircraft concern with important competitory advantages stemming from ownership of starring planetary brands (4 of apical 5) and analyzable planetary frozen proviso concatenation network…" (Click present to work the afloat text)
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