- For the Quarter Ended June 30, 2026 Appalaches Core LO increased AutoZone, CME Group and Progressive, initiated McKesson, and remained nearly fully invested despite lagging major indices amid enthusiasm for AI-linked equities. The portfolio argues that AutoZone’s distribution buildout, CME’s institutional liquidity moat and McKesson’s generic-drug and biologics tailwinds offer durable value despite near-term concerns. 2nd quarter 2026 MCK $116BAZO $51BCME $108B
One letter so far. We collect each new one as Appalaches Capital publishes it.
