Household Replenishment: Staples & Retailers

The thesis

Own the retailers and branded suppliers behind recurring grocery, beverage and household purchases rather than another chip-capex basket. These businesses offer exposure to repeat consumer demand while technology shares face a valuation reset, and every basket company posted a positive monthly return on the supplied sheet. Recent strength makes entry valuation a risk; this is a demand-resilience allocation, not a claim that staples are uniformly cheap.