Concentration, Cyclical, Opportunistic, small caps, value
The fund is positioned for a cyclical recovery in the TiO2 market after a prolonged downcycle. CC's TiO2 segment EBITDA declined from $809MM in 2021 to $290MM in 2023, but peers are showing strong results with improving volumes and pricing. The manager estimates CC can earn $1.5B in 2025 EBITDA.
Concentration, emerging markets, Mining, small caps, South Africa, value
Portfolio trades at 5x PE multiple with 20% earnings yield despite 12% earnings growth and 14% ROE. Manager emphasizes extreme valuation disconnect where high-quality companies trade at historically low multiples due to multiple compression rather than business deterioration.
This report provides a detailed summary of investor holdings for a
specified stock ticker, highlighting key metrics such as fund
name, total assets under management (AUM), invested value,
portfolio weight, and shares owned. It also tracks changes in
share ownership during the last quarter, including the percentage
of shares bought or sold and the percentage of outstanding shares
owned. The data is generated using an API that processes investor
holdings and calculates these values for each fund. This report
helps investors and analysts monitor the stock positions of major
funds, identify investment trends, and assess the influence of
large investors on individual stocks.
