Institutional Manager · CIK 0001771122

Rings Capital Management LLC

Chicago, IL · File #028-19446

Latest AUM

$201.2M

Positions

Top-10 Concentration

100.0%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
REDUCE	CARMAX INC	KMX	-125,000	-$4.8M	-$6.7M
EXITED	ALIBABA GROUP HOLDINGS LTD	01609W102	-7,100	-$1.3M	$0
NEW	CONSTELLATION BRANDS INC	STZ	+6,000	+$827,760	$0
REDUCE	BLOCK H & R INC	BSQKZ	0	$0	-$370,470
REDUCE	CHECK POINT SOFTWARE TECHNOLOGY LT	M22465104	0	$0	-$3.4M
REDUCE	MICROSOFT CORP	MSFT	0	$0	-$2.8M
REDUCE	MOODYS CORP	MCO	0	$0	+$4.1M
REDUCE	RTX CORPORATION	RTX	0	$0	+$2.7M

Sector Allocation

Financials

30.5%$61.3M

Technology

19.9%$40.1M

Consumer Discretionary

18.2%$36.7M

Industrials

15.0%$30.3M

Consumer Staples

0.4%$827,760

Filing History

Feb 17, 202613F HOLDINGS REPORTQ/E Dec 20257 pos · $201.2M
Nov 14, 202513F HOLDINGS REPORTQ/E Sep 20257 pos · $213.0M
Aug 14, 202513F HOLDINGS REPORTQ/E Jun 20257 pos · $206.8M
May 15, 202513F HOLDINGS REPORTQ/E Mar 20258 pos · $196.2M
Feb 14, 202513F HOLDINGS REPORTQ/E Dec 20248 pos · $191.4M
Nov 14, 202413F HOLDINGS REPORTQ/E Sep 20248 pos · $191.8M
Aug 14, 202413F HOLDINGS REPORTQ/E Jun 20247 pos · $191.2M
May 15, 202413F HOLDINGS REPORTQ/E Mar 20247 pos · $182.8M
Nov 14, 202313F HOLDINGS REPORTQ/E Dec 20235 pos · $109.7M

Top 7 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	MOODYS CORP	MCO	120,000	$61.3M	30.47%
2	MICROSOFT CORP	MSFT	83,000	$40.1M	19.95%
3	CARMAX INC	KMX	949,000	$36.7M	18.23%
4	RTX CORPORATION	RTX	165,000	$30.3M	15.04%
5	CHECK POINT SOFTWARE TECHNOLOGY LT	M22465104	160,000	$29.7M	14.76%
6	BLOCK H & R INC	BSQKZ	53,000	$2.3M	1.15%
7	CONSTELLATION BRANDS INC	STZ	6,000	$827,760	0.41%