Beaten-Down Consumer Brands: Value & Turnarounds

While the index sits near highs, a pocket of dominant consumer franchises trades 20-50% below 52-week highs on execution stumbles and a soft consumer tape. These are category leaders with real brands, buybacks and dividends, where sentiment is washed out and any stabilization in traffic or margins re-rates the stocks. This is a contrarian value basket on household-name consumer discretionary, a theme no live North portfolio isolates. Catalysts: - 2026-10-09 Nike Stock Plunges to Multiyear Lows While Core Retail Issues Persist (https://www.tikr.com/blog/nike-stock-multiyear-low-turnaround-china-jordan-sportswear) Launch basket (equal weight): NKE, MCD, BKNG, TJX, HD, LOW, TGT, SBUX Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.