# PSquared Asset Management AG

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1623624. Source: https://holderbook.com/funds/1623624-psquared-asset-management-ag/

- Reported value: $306.0M
- Positions: 15
- Weight of the ten largest: 92.2%
- Filed: 2026-08-17

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| WARNER BROS DISCOVERY INC | [WBD](https://holderbook.com/stocks/WBD/) | $60.8M | 2,274,997 | 19.9% | 3 |
| IHS HOLDING LIMITED | [IHS](https://holderbook.com/stocks/IHS/) | $35.6M | 4,321,436 | 11.6% | 2 |
| SOLARIS RES INC | [SLSR](https://holderbook.com/stocks/SLSR/) | $34.3M | 4,080,050 | 11.2% | 6 |
| ELECTRONIC ARTS INC | [EA](https://holderbook.com/stocks/EA/) | $30.9M | 150,684 | 10.1% | 1 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $30.4M | 58,580 | 9.9% | 1 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $30.1M | 95,704 | 9.8% | 3 |
| KIMBERLY-CLARK CORP | [KMB](https://holderbook.com/stocks/KMB/) | $16.5M | 150,147 | 5.4% | 1 |
| REVOLUTION MEDICINES INC | [RVMD](https://holderbook.com/stocks/RVMD/) | $15.5M | 80,000 | 5.1% | 2 |
| TXNM ENERGY INC | [TXNM](https://holderbook.com/stocks/TXNM/) | $15.3M | 274,400 | 5.0% | 1 |
| ELDORADO GOLD CORP NEW | [EGO](https://holderbook.com/stocks/EGO/) | $12.8M | 409,853 | 4.2% | 1 |
| ESPERION THERAPEUTICS INC NE | [ESPR](https://holderbook.com/stocks/ESPR/) | $10.4M | 3,300,000 | 3.4% | 1 |
| UNIFIRST CORP MASS | [UNF](https://holderbook.com/stocks/UNF/) | $5.9M | 22,365 | 1.9% | 1 |
| ABIVAX SA | [ABVX](https://holderbook.com/stocks/ABVX/) | $5.5M | 41,200 | 1.8% | 3 |
| STRUCTURE THERAPEUTICS INC | [GPCR](https://holderbook.com/stocks/GPCR/) | $2.0M | 37,200 | 0.7% | 2 |
| QXO INC | [QXO](https://holderbook.com/stocks/QXO/) | $829 | 48 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +3.1% | +14.8% | -11.7% | 89% |
| Q1 2026 | -6.0% | -4.6% | -1.4% | 94% |
| Q4 2025 | +4.1% | +2.4% | +1.7% | 96% |
| Q3 2025 | +15.1% | +7.8% | +7.3% | 83% |
| Q2 2025 | -11.3% | +10.5% | -21.8% | 86% |
| Q4 2024 | +2.4% | +2.1% | +0.3% | 72% |
| Q3 2024 | -1.5% | +5.4% | -6.9% | 81% |
| Q2 2024 | -4.2% | +4.0% | -8.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $306.0M | 15 |
| Q1 2026 | $287.4M | 15 |
| Q4 2025 | $213.9M | 12 |
| Q3 2025 | $126.0M | 9 |
| Q2 2025 | $455.1M | 8 |
| Q1 2025 | $133.8M | 6 |
| Q4 2024 | $219.2M | 3 |
| Q3 2024 | $416.8M | 9 |
| Q2 2024 | $483.7M | 11 |
| Q1 2024 | $641.7M | 9 |
| Q4 2023 | $502.5M | 10 |
| Q3 2023 | $1.1B | 14 |