High Ground Investment Management LLP portfolio

What changed this quarter

7 positions with a change (2 new, 3 added to, 2 trimmed). 7 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• T-mobile US+13.1 ppof portfolioNew
  — → 13.1%
• Elevance Health+98%more sharesIncreased
  18.7% → 23.1%
• Arch Capital Group+46%more sharesIncreased
  32.0% → 22.3%
• Eagle Materials+5.4 ppof portfolioNew
  — → 5.4%
• AerCap Holdings+31%more sharesIncreased
  30.9% → 20.4%
• Humana−12%fewer sharesReduced
  16.4% → 15.6%
• Warrior Met Coal−90%fewer sharesReduced
  2.0% → 0.1%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Elevance HealthELV23.1%Since at least Q4 2022 · 15 quartersDetails ▾
• Arch Capital GroupACGL22.3%Since Q4 2023 · 11 quartersDetails ▾
• AerCap HoldingsAER20.4%Since Q3 2025 · 4 quartersDetails ▾
• HumanaHUM15.6%Since at least Q4 2022 · 15 quartersDetails ▾
• T-mobile USTMUS13.1%Since Q2 2026 · 1 quarterDetails ▾
• Eagle MaterialsEXP5.4%Since Q2 2026 · 1 quarterDetails ▾
• Warrior Met CoalHCC0.1%Since Q1 2024 · 10 quartersDetails ▾

“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.