North Growth Management is an investment fund managing more than $524 million ran by Rachid Nayel. There are currently 47 companies in Mr. Nayel’s portfolio. The largest investments include Jabil Inc and Applied Materials, together worth $72.1 million.
As of 23rd April 2024, North Growth Management’s top holding is 288,000 shares of Jabil Inc currently worth over $38.6 million and making up 7.4% of the portfolio value.
Relative to the number of outstanding shares of Jabil Inc, North Growth Management owns more than approximately 0.1% of the company.
In addition, the fund holds 163,000 shares of Applied Materials worth $33.6 million, whose value grew 47.5% in the past six months.
The third-largest holding is CIENA worth $26.1 million and the next is Coherent Corp worth $21.1 million, with 348,000 shares owned.
Currently, North Growth Management's portfolio is worth at least $524 million. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
The North Growth Management office and employees reside in Vancouver, British Columbia, Canada. According to the last 13-F report filed with the SEC, Rachid Nayel serves as the CFO at North Growth Management.
In the most recent 13F filing, North Growth Management revealed that it had opened a new position in
Integer Corp and bought 92,000 shares worth $10.7 million.
This means they effectively own approximately 0.1% of the company.
Integer Corp makes up
17.7%
of the fund's Health Care sector allocation and has decreased its share price by approximately 0.1% in the past year.
The investment fund also strengthened its position in Coherent Corp by buying
22,000 additional shares.
This makes their stake in Coherent Corp total 348,000 shares worth $21.1 million.
Coherent Corp dropped approximately 0.1% in the past year.
On the other hand, there are companies that North Growth Management is getting rid of from its portfolio.
North Growth Management closed its position in Horizon Therapeutics on 30th April 2024.
It sold the previously owned 166,000 shares for $17.1 million.
Rachid Nayel also disclosed a decreased stake in Jabil Inc by 0.2%.
This leaves the value of the investment at $38.6 million and 288,000 shares.
The two most similar investment funds to North Growth Management are Hefren-tillotson and Legg Mason Investment Counsel & Trust Co., N.a. They manage $523 million and $522 million respectively.
North Growth Management’s portfolio is diversified across 7 sectors.
Currently, their heaviest sector is Technology — making up 38.0% of
the total portfolio value.
The fund focuses on investments in the United States as
76.6% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
53% of the total holdings value.
On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $140 billion.
These positions were updated on April 30th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Jabil Inc |
24.21%
288,000
|
$38,561,000 | 7.36% |
| Applied Materials Inc. |
2.98%
163,000
|
$33,576,000 | 6.41% |
| CIENA Corp. |
2.76%
528,000
|
$26,109,000 | 4.98% |
| Coherent Corp |
6.75%
348,000
|
$21,074,000 | 4.02% |
| Motorola Solutions Inc |
1.72%
57,000
|
$20,121,000 | 3.84% |
| Qualcomm, Inc. |
3.28%
118,000
|
$19,992,000 | 3.82% |
| Horizon Therapeutics |
Closed
166,000
|
$17,122,000 | |
| NVIDIA Corp |
45.71%
19,000
|
$17,023,000 | 3.25% |
| Elevance Health |
3.45%
28,000
|
$14,524,000 | 2.77% |
| Tempur Sealy International Inc |
2.67%
255,000
|
$14,478,000 | 2.76% |
| HP Inc |
2.85%
478,000
|
$14,437,000 | 2.76% |
| Jacobs Solutions Inc |
3.16%
92,000
|
$14,217,000 | 2.71% |
| Global Payments, Inc. |
2.75%
106,000
|
$14,149,000 | 2.70% |
| Bristol-Myers Squibb Co. |
Closed
220,000
|
$14,054,000 | |
| Tapestry Inc |
21.01%
288,000
|
$13,695,000 | 2.61% |
| NVR Inc. |
100.00%
2,000
|
$12,514,000 | 2.39% |
| Booking Holdings Inc |
25.00%
3,000
|
$12,407,000 | 2.37% |
| Crocs Inc |
22.86%
86,000
|
$12,403,000 | 2.37% |
| Abercrombie & Fitch Co. |
38.46%
96,000
|
$11,980,000 | 2.29% |
| Inmode Ltd |
34.18%
530,000
|
$11,454,000 | 2.19% |
| Fedex Corp |
20.83%
38,000
|
$10,952,000 | 2.09% |
| Best Buy Co. Inc. |
Closed
133,000
|
$10,891,000 | |
| Align Technology, Inc. |
13.79%
33,000
|
$10,779,000 | 2.06% |
| Integer Holdings Corp |
Opened
92,000
|
$10,678,000 | 2.04% |
| Brinker International, Inc. |
3.21%
211,000
|
$10,506,000 | 2.01% |
| Johnson Controls |
2.44%
160,000
|
$10,424,000 | 1.99% |
| Lumentum Holdings Inc |
7.92%
218,000
|
$10,338,000 | 1.97% |
| Microsoft Corporation |
4.00%
24,000
|
$10,245,000 | 1.96% |
| Fortune Brands |
3.39%
114,000
|
$9,680,000 | 1.85% |
| Charles River Laboratories International Inc. |
3.13%
33,000
|
$8,839,000 | 1.69% |
| Texas Instruments Inc. |
2.00%
49,000
|
$8,524,000 | 1.63% |
| Electronic Arts, Inc. |
1.56%
63,000
|
$8,294,000 | 1.58% |
| Thermo Fisher Scientific Inc. |
Opened
14,000
|
$8,256,000 | 1.58% |
| Watts Water |
5.41%
35,000
|
$7,535,000 | 1.44% |
| Apple Inc |
2.22%
44,000
|
$7,519,000 | 1.44% |
| Arhaus |
280.95%
480,000
|
$7,389,000 | 1.41% |
| Atkore Inc |
Opened
38,000
|
$7,321,000 | 1.40% |
| Revvity Inc. |
Closed
60,000
|
$7,126,000 | |
| RH |
40.63%
19,000
|
$6,742,000 | 1.29% |
| Old Dominion Freight Line, Inc. |
150.00%
30,000
|
$6,581,000 | 1.26% |
| Warner Bros.Discovery Inc |
26.06%
740,000
|
$6,460,000 | 1.23% |
| United Rentals, Inc. |
25.00%
9,000
|
$6,245,000 | 1.19% |
| Ulta Beauty Inc |
100.00%
12,000
|
$6,209,000 | 1.19% |
| West Pharmaceutical Services, Inc. |
60.00%
16,000
|
$6,191,000 | 1.18% |
| Solaredge |
53.85%
80,000
|
$5,708,000 | 1.09% |
| Foot Locker Inc |
Closed
188,000
|
$5,102,000 | |
| Masterbrand |
3.24%
179,000
|
$3,356,000 | 0.64% |
| Biogen Inc |
8.33%
11,000
|
$2,441,000 | 0.47% |
| Axonics Inc |
Opened
25,000
|
$1,752,000 | 0.33% |
| Zymeworks Inc |
19.17%
97,000
|
$1,020,000 | 0.19% |
| Canadian Solar Inc |
13.33%
51,000
|
$1,007,000 | 0.19% |
| Lululemon Athletica inc. |
No change
0
|
$131,000 | 0.03% |
| No transactions found | |||
| Showing first 500 out of 52 holdings | |||