<strong>Wedge Capital Management LLP/Nc</strong>: Significant Portfolio Changes in Q2 2026

Wedge Capital Management LLP/Nc experienced notable shifts in its portfolio during the second quarter of 2026, as evidenced by changes from the previous period. The total portfolio value remained substantial at approximately $5.95 billion.

The investor showed strong buying activity, particularly within the Technology sector. KLA-Tencor Corp (KLAC) saw a massive increase in its position, with shares rising by over 700% quarter-over-quarter (KLAC). Similarly, new positions were initiated or significantly increased for Clear Secure Inc Cl A (YOU), which experienced a 100% increase in shares held by the fund (YOU). Wedge Capital also added to its stake in SS&C Technologies Holdings Inc (SSNC), with a significant purchase of over half a million shares, contributing $77.5 million to its value (SSNC). Furthermore, the fund invested heavily in Jabil Inc (JBL) and Arista Networks Inc (ANET), acquiring substantial positions that bolstered their respective allocations (JBL) and (ANET).

Conversely, the investor disposed of considerable Technology holdings. Shares of Dell Technologies Inc Cl C (DELL) decreased by over half a million units (-51.58%), reflecting a significant sell-off (DELL). Similarly, the position in Lam Research Corp New (LRCX) was reduced substantially, with nearly 420,000 shares sold off (-15.94%) (LRCX).

The portfolio also saw notable activity in other sectors outside Technology. In Financial Services, Regions Financial Corp (RF) experienced a near-complete exit from its position by Wedge Capital (RF). The fund sold almost all of its holdings in this stock (-90.85%).

New positions were established across several other sectors during Q2 2026, including Consumer Cyclical with Victoria's Secret And Co Common (VSCO), Healthcare with Oscar Health Inc Cl A (OSCR) and BioCryst Pharmaceuticals Inc (BCRX), Utilities with Alden Global Capital Holdings Corp (AQN) and PG&E Corp (PCG), and Communication Services via a new stake in Fox Corporation (FOX). These additions signal diversification efforts or shifts towards specific areas perceived as having growth potential.

The overall portfolio turnover rate was exceptionally high, with all 471 holdings changed during the quarter. Wedge Capital's Technology sector allocation remains dominant at nearly $2.6 billion (27%), followed closely by Financial Services ($825 million) and Consumer Cyclical ($309 million). The top five holdings accounted for approximately 7.9% of the total portfolio value.