MTCO Ltd.

Key Holdings

The portfolio is dominated by a single massive position in QXO INC (QXO), which accounts for $211.05 million or 85.37% of the total assets. With a holding of 10.94 million shares, this position represents the core bet of the fund. The sheer size of this allocation indicates that the firm views QXO as a mispriced asset with significant potential for appreciation, or it suggests a deep involvement in the company's strategic direction, potentially indicative of an activist-style stake.

The second holding, PARAMOUNT SKYDANCE CORP (PSKY), represents the remaining 14.63% of the portfolio, valued at $36.18 million. While significantly smaller than the QXO position, the firm holds 2.70 million shares. The dual nature of the holdings—both QXO and PSKY being entities involved in significant corporate transitions or M&A activity—points to a thematic focus on corporate events, special situations, or turnarounds rather than steady-state cash flow investing.