QSM Asset Management Ltd: Mid-Cap Focus with Significant Consumer Buys in Q2 2026
QSM maintained its mid-cap strategy for the quarter ending June 30, 2026. The fund increased positions in several consumer stocks while exiting some Technology holdings.
For the period ending June 30, 2026, QSM Asset Management Ltd continued its focus on mid-cap companies. The fund's portfolio saw a mix of buying and selling activities during this quarter.
Significant Increases in Consumer Stocks
The most notable purchases by the fund occurred within consumer sectors, particularly Consumer Defensive. QSM significantly boosted its position in NEWELL BRANDS INC (NWL), adding 320,000 shares representing a substantial 25.39% increase during the quarter.
Within the Consumer Cyclical space, QSM demonstrated considerable buying activity through multiple positions:
- V F CORP (VFC), adding 228,000 shares for an overall increase of 81.44%
- MOHAWK INDS INC (MHK), acquiring 25,400 shares which increased its stake by 29.51%
- MOBILEYE GLOBAL INC (MBLY), establishing a new position with the addition of 153,000 shares
Interestingly, CNH INDL N V (CNH) also saw significant share growth despite its sector being listed as 'Unknown' in the portfolio breakdown.
Selling Activity Concentrated in Technology
The fund's exit strategy was most pronounced within the Technology sector:
- INTEL CORP (INTC), sold off 190,900 shares resulting in a nearly -82% change from the previous period
- AXCELIS TECHNOLOGIES INC (ACLS), completely liquidated its position reducing it by 97.4%
These actions suggest a strategic shift away from Technology investments, potentially reallocating capital to other sectors.
Maintaining Strong Consumer Exposure
In addition to the new purchases and significant increases, QSM also maintained its stake in existing consumer holdings:
- PFIZER INC (PFE), increased by 67,800 shares
- ZIMMER BIOMET HOLDINGS INC (ZBH) and BAXTER INTL INC (BAX), maintained their positions with no change in shares
- CONAGRA BRANDS INC (CAG) and WHIRLPOOL CORP (WHR), saw increases of 70,000 shares and 37,200 shares respectively
This indicates that while the fund is trimming Technology exposure, it remains committed to consumer-related companies.
Overall Portfolio Shifts
The changes observed during this quarter reflect QSM's active management approach. The fund appears to be strategically reducing its Technology allocation while simultaneously increasing positions in Consumer sectors and adding new ones like Mobileye Global Inc.
This selective buying and selling pattern is characteristic of a mid-cap focused investment strategy, as evidenced by the portfolio holding count of 24 stocks during this period (QSM Asset Management Ltd).