# QSM Asset Management Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2058325. Source: https://holderbook.com/funds/2058325-qsm-asset-management-ltd/

- Reported value: $192.9M
- Positions: 24
- Weight of the ten largest: 60.4%
- Filed: 2026-07-16

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 |
|---|---|---|---|---|---|
| VIATRIS INC | [VTRS](https://holderbook.com/stocks/VTRS/) | $15.9M | 996,132 | 8.2% | 7 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $13.5M | 559,438 | 7.0% | 7 |
| MOHAWK INDS INC | [MHK](https://holderbook.com/stocks/MHK/) | $13.3M | 111,474 | 6.9% | 7 |
| ZIMMER BIOMET HOLDINGS INC | [ZBH](https://holderbook.com/stocks/ZBH/) | $13.2M | 154,375 | 6.8% | 6 |
| BAXTER INTL INC | [BAX](https://holderbook.com/stocks/BAX/) | $12.3M | 567,886 | 6.4% | 3 |
| CNH INDL N V | [CNH](https://holderbook.com/stocks/CNH/) | $12.0M | 1,049,940 | 6.2% | 7 |
| CONAGRA BRANDS INC | [CAG](https://holderbook.com/stocks/CAG/) | $10.3M | 753,661 | 5.3% | 7 |
| NEWELL BRANDS INC | [NWL](https://holderbook.com/stocks/NWL/) | $9.6M | 1,580,116 | 5.0% | 7 |
| V F CORP | [VFC](https://holderbook.com/stocks/VFC/) | $8.4M | 507,957 | 4.4% | 7 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $8.2M | 192,119 | 4.2% | 7 |
| EASTMAN CHEM CO | [EMN](https://holderbook.com/stocks/EMN/) | $7.8M | 116,650 | 4.0% | 7 |
| HALLIBURTON CO | [HAL](https://holderbook.com/stocks/HAL/) | $7.3M | 212,139 | 3.8% | 2 |
| MOBILEYE GLOBAL INC | [MBLY](https://holderbook.com/stocks/MBLY/) | $7.0M | 764,003 | 3.6% | 2 |
| MANPOWERGROUP INC WIS | [MAN](https://holderbook.com/stocks/MAN/) | $6.7M | 197,104 | 3.5% | 2 |
| VESTIS CORPORATION | [VSTS](https://holderbook.com/stocks/VSTS/) | $6.4M | 442,390 | 3.3% | 7 |
| ROBERT HALF INC. | [RHI](https://holderbook.com/stocks/RHI/) | $6.3M | 202,846 | 3.3% | 2 |
| ALEXANDRIA REAL ESTATE EQ IN | [ARE](https://holderbook.com/stocks/ARE/) | $6.1M | 112,800 | 3.2% | 1 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $6.0M | 43,019 | 3.1% | 7 |
| OCCIDENTAL PETE CORP | [OXY](https://holderbook.com/stocks/OXY/) | $5.5M | 110,934 | 2.8% | 4 |
| RIO TINTO PLC | [RIO](https://holderbook.com/stocks/RIO/) | $5.1M | 54,057 | 2.7% | 4 |
| ALCOA CORP | [AA](https://holderbook.com/stocks/AA/) | $4.6M | 87,300 | 2.4% | 3 |
| CELANESE CORP DEL | [CE](https://holderbook.com/stocks/CE/) | $3.8M | 82,157 | 2.0% | 6 |
| WHIRLPOOL CORP | [WHR](https://holderbook.com/stocks/WHR/) | $3.5M | 93,902 | 1.8% | 5 |
| AXCELIS TECHNOLOGIES INC | [ACLS](https://holderbook.com/stocks/ACLS/) | $250.6K | 1,341 | 0.1% | 5 |

## 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 | +14.4% | +14.8% | -0.5% | 101% |
| Q1 2026 | +11.9% | -4.6% | +16.5% | 100% |
| Q4 2025 | -0.0% | +2.4% | -2.4% | 102% |
| Q3 2025 | +4.9% | +7.8% | -3.0% | 100% |
| Q2 2025 | -8.8% | +10.5% | -19.3% | 101% |
| Q1 2025 | -9.8% | -4.6% | -5.3% | 101% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $192.9M | 24 |
| Q1 2026 | $204.2M | 25 |
| Q4 2025 | $174.7M | 21 |
| Q3 2025 | $140.0M | 20 |
| Q2 2025 | $108.5M | 17 |
| Q1 2025 | $133.2M | 18 |
| Q4 2024 | $116.4M | 17 |