DM Monthly Report – April 2024

WILL THE MARKET’S CONCENTRATION BE ITS UNDOING?
Though virtually all of our equity analysis occurs at the company level, it’s been hard to ignore the recent warnings about market structure, and in particular the dominance of the Magnificent 7 group of mega-cap stocks in the S&P 500.

FEATURE STOCK – Ametek Inc. (AME)

In February, we initiated a new position in AME and subsequently added to the holding in mid-March. AME is a leading global manufacturer of niche components, analytical instruments, and precision automation devices for use in aerospace, power, defense, and other industrial segments.

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