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Upslope Capital Management highlights Magnum Ice Cream buy in Q2 letter
In its Q2 2026 investor letter, Upslope said it returned -6.6% net in the quarter, versus gains for the S&P Midcap 400 ETF and an equity hedge index.
Upslope Capital Management released its second-quarter 2026 investor letter, outlining its goal of delivering attractive, equity-like returns while reducing market risk and maintaining low correlation with traditional equity strategies, according to Yahoo Finance.
The firm reported its fund returned -6.6% net in Q2, lagging the +14.3% gain for the S&P Midcap 400 ETF (MDY) and the +10.3% return for the HFRX Equity Hedge Index.
Within the letter, Upslope highlighted The Magnum Ice Cream Company N.V. (NYSE: MICC) as a featured position. The Netherlands-based ice cream company sells products under brands including Magnum, Ben & Jerry's, Cornetto, and Wall's.
Upslope described Magnum as a global pure-play spun out of Unilever at the end of 2025, and noted the stock closed at $17.88 per share on July 21, 2026, when the company cited a market capitalization of $10.96 billion. The letter also stated MICC shares were up 4.99% over the prior month and 12.81% year to date, and said emerging markets contribute about 30% of sales.