KNA Capital October 2025 Update

In KNA Capital’s October update, we look beyond stock picking to the critical role of portfolio construction.

We delve into our approach to position sizing, explaining how KNA Capital balances conviction against the wide range of potential outcomes for any investment.

We also cover the rationale for increasing our position in Morningstar and review strong fundamental performance from core holdings like Old Dominion Freight Lines and Domino’s Pizza.

Click below to read the full letter and gain insight into our allocation philosophy.

Please read important disclaimers.