Capital redeployed across diverse sectors.
Concentric Capital Expands Portfolio with New Stakes in Airlines, Finance, and Retail
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Key Points
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Concentric’s new Rollins stake involved buying 305,923 shares worth about $18.361 million in Q4, and the stock was described as its 17th-largest holding, at roughly 0.9% of its portfolio.
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For United Airlines, Concentric purchased 32,385 shares worth approximately $3.621 million. The article also notes that institutional investors own 69.69% of the company, and highlights other activity including Schonfeld Strategic Advisors’ 685.3% stake increase (to 457,972 shares).
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Concentric’s Pool position was a new stake of 38,453 shares worth about $8.796 million, and the report states institutional investors and hedge funds own 98.99% of the stock.
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Madison Square Garden: Concentric boosted its stake by 10.1% in Q4, ending with 120,256 shares (after buying 11,019 more), valuing the position at about $31.104 million. The article also characterizes MSG as Concentric’s 7th-largest holding.
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Capital One: Concentric acquired 16,376 shares worth roughly $3.969 million. The report adds that hedge funds and other institutional investors own 89.84% of the stock and spotlights Waverton Investment Management’s large increase—up 1,390.9% in Q3 to 1,181,834 shares (adding 1,102,563).
Concentric Capital Strategies LP made a new bet on pool and spa supplier Pool Corporation last quarter, picking up 38,453 shares worth about $8.8 million, according to MarketBeat. The Stamford-based hedge fund, founded by former Millennium portfolio manager Seth Turkeltaub, also added fresh stakes in Rollins and United Airlines while expanding positions in Madison Square Garden and Capital One Financial.
The moves signal a broad redeployment of capital across business services, consumer maintenance, airlines, and financial stocks. Concentric's regulatory assets under management reached roughly $3.1 billion by February 2026, according to Radient Analytics.
Pool and Pest Control Anchor the Defensive Playbook
Concentric's largest new bet in the quarter was on Rollins, the pest control giant. The firm bought 305,923 shares worth about $18.4 million, making it the 17th-largest holding in the portfolio at roughly 0.9% of assets, per MarketBeat. Rollins has posted 25 straight years of revenue growth, driven by the non-discretionary nature of pest control — customers keep paying even in a downturn.
The Pool Corporation stake — 38,453 shares at roughly $229 per share — rounds out the defensive leg. Institutional investors own 98.99% of Pool Corp stock, according to MarketBeat, a level of concentration that analysts call a "crowded trade." CEO Peter Arvan has flagged that new pool construction is down 40% from 2022 peaks, but the company's recurring chemical and maintenance business keeps revenue flowing, per Seeking Alpha.
United Airlines Bet Caught a Geopolitical Crosswind
Concentric bought 32,385 United Airlines shares worth about $3.6 million, joining Schonfeld Strategic Advisors, which raised its own UAL stake by 685.3% to 457,972 shares in the same period. The timing proved volatile. In late February 2026, U.S.-Iran tensions rattled oil markets and sent airline stocks sharply lower, according to Seeking Alpha.
The picture has since brightened. Morgan Stanley raised its United Airlines price target to $182 on June 1, citing a recovery in international demand, per MarketBeat. A reported "peace framework" in the Strait of Hormuz in mid-June sent UAL shares up 12.7% in days, according to Simply Wall St. Zacks Research upgraded UAL from "strong sell" to "hold" on June 13, projecting revenue of $17.58 billion for the upcoming quarter — a 15.4% year-over-year jump.
MSG Stays the Top Holding as Capital One Gets a Trim Addition
Madison Square Garden remains Concentric's 7th-largest holding. The firm added 11,019 shares in Q4, a 10.1% increase, bringing its total to 120,256 shares valued at about $31.1 million, according to MarketBeat. MSG is Concentric's biggest single-stock bet by dollar value among the positions disclosed this quarter.
On the financial side, Concentric added 16,376 Capital One shares worth roughly $4 million. Institutional investors hold 89.84% of Capital One stock. Waverton Investment Management made a much larger move, raising its own Capital One stake by 1,390.9% in Q3 to 1,181,834 shares, per MarketBeat.
Rollins CFO Exit Adds a Wrinkle to an Otherwise Steady Compounder
Not everything is smooth. Rollins announced CFO Kenneth Krause's resignation effective June 15, 2026, with Chief Accounting Officer William Harkins stepping into the role, according to Quiver Quantitative. Rollins shares dropped 3.4% on the news. Investors in "stable compounder" stocks — companies known for slow, steady growth — tend to react badly to sudden leadership changes.
Despite the turbulence, Rollins CEO Jerry Gahlhoff Jr. reaffirmed 7%–8% organic revenue growth targets at the firm's May 2026 Investor and Analyst Conference. Pool Corp also beat Q1 2026 estimates, posting $1.14 billion in revenue and $1.43 earnings per share, per MarketBeat. Both results suggest Concentric's defensive holdings are performing as expected, even as management and macro risks keep investors watchful.
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