Seven Six Capital Management, LLC

Key observable characteristics:

• Concentration: the top two positions represent 38.00% of the portfolio (19.04% AMCOR PLC and 18.96% PERRIGO CO PLC). The top five account for ~66.05% of assets. This is a concentrated, high-conviction portfolio structure.
• Turnover: selling of at least $58.7M across the top-10 exited names (sum of the listed top 10 sold positions = $58.74M) explains most of the overall shrinkage.
• Small-to-mid-sized remaining book: $38.86M across 12 names implies average holding size ~ $3.24M, but actual holdings are skewed with several multi-million dollar positions and several sub-$1M positions.

Key Holdings and Their Significance

• AMCOR PLC ($7.40M, 905K shares, 19.04%): Largest single position, nearly one-fifth of the portfolio. Its size signals a top conviction holding and likely a core position. Any material price movement in AMCOR would meaningfully affect overall performance.
• PERRIGO CO PLC ($7.37M, 331K shares, 18.96%): Nearly identical weight to AMCOR; together the two names represent 38% of assets. This pair dominates portfolio risk and return.
• ARCBEST CORP ($3.82M, 55K shares, 9.82%): The largest Industrials exposure in the filing at ~9.8%. Still a sizable position relative to the remaining portfolio.
• MAGNERA CORP ($3.64M, 311K shares, 9.37%): Significant single-stock exposure in Basic Materials (~9.4%).
• DRIVEN BRANDS ($3.44M, 214K shares, 8.86%) and SIX FLAGS ($2.93M, 129K shares, 7.54%): Two Consumer Cyclical names that together form ~16.4% of the portfolio.
• Others: HERC Holdings ($2.79M, 7.17%), Stellantis ($2.33M, 6.00%), Clearwater Paper ($2.10M, 5.41%) and smaller holdings (Helen of Troy $1.38M; WESCO $0.978M; Vestis $0.684M).