Clifford Sosin's Portfolio Dominated by Consumer Cyclical Stocks with Notable Sector Concentration

Clifford Sosin's Portfolio Dominated by Consumer Cyclical Stocks

As of 2025-09-30, Clifford Sosin's portfolio is heavily weighted towards the Consumer Cyclical sector, with CARVANA CO (CVNA) and Hilton Grand Vacations Inc (HGV) comprising over 87% of its total value. This allocation reflects a strategic focus on high-growth industries that are resilient during economic downturns.

Among the top holdings, CARVANA CO (CVNA) stands out as the largest component of the portfolio, valued at approximately $1.84 billion. Hilton Grand Vacations Inc (HGV), while slightly smaller in value, also contributes significantly with a total stock value of about $235 million. These two stocks collectively account for 82.26% and 10.52% of the portfolio's allocation, respectively.

Other notable holdings include CAPITAL ONE FINL CORP (COF) at 6.31%, CARDLYTICS INC (CDLX) at 0.56%, and LATHAM GROUP INC (SWIM) at 0.34%. Among these, SWIM has shown a remarkable increase in value, with a total stock value rising by $7.6 million compared to the prior period.

While CARVANA CO (CVNA) experienced a slight decrease in both shares and percentage allocation (-0.66%), Hilton Grand Vacations Inc (HGV) also saw a minor decline (-0.28%). On the other hand, CAPITAL ONE FINL CORP (COF) and CARDLYTICS INC (CDLX) showed decreases in share numbers but maintained their allocations through stable percentage changes.

This portfolio strategy underscores a focus on sectors with strong growth potential, particularly Consumer Cyclical. The fund's allocation to SWIM highlights an emphasis on upward trends within the Industrials sector, complementing the established positions in Financial Services and Communication Services.

Overall, Clifford Sosin's portfolio demonstrates a balanced approach, leveraging high-growth sectors while maintaining diversification across key industries.

Changes in Holdings

• CARVANA CO (CVNA): Total stock value decreased by $1.84 billion (-66%), reflecting a significant shift in portfolio allocation from this position.
• HILTON GRAND VACATIONS INC (HGV): Total stock value dropped by $235 million (-16027 shares, -28% change), indicating moderate diversification away from this holding.
• CAPITAL ONE FINL CORP (COF): Total stock value decreased by $141 million (-36711 shares, -5.23% change), maintaining its allocation but showing a slight decline in performance.
• CARDLYTICS INC (CDLX): Total stock value fell by $12.6 million (-415855 shares, -7.41% change), reflecting a modest adjustment to this sector.
• LATHAM GROUP INC (SWIM): Total stock value surged by $7.6 million (+100% increase in shares), indicating strong growth within the Industrials sector.

This analysis reveals a portfolio strategy heavily weighted towards Consumer Cyclical sectors, with notable decreases in some holdings and significant growth in others. The diversification across key industries underscores a balanced investment approach aimed at maximizing returns while mitigating risk.