Special Situations
MAS: Pre-Announced Play, Potential Winner Second Time Around

With the success of its previous Spinoff, TopBuild (BLD), up +190% vs -10% index return and the same management team pressing to streamline its core business, we believe that the world’s largest manufacturer of branded home improvement and building products, Masco Corp. (MAS), will follow the same playbook and announce another Spinoff after its strategic review by the end of June. Analysis ahead of this release out shortly.  

  • MAS's 2015 Spinoff of $1bn TopBuild (BLD) Produces +190% vs. Negative Index Return
  • Strategic Review of its Non-Core Pieces (Cabinetry Products and Windows)
  • 20% of MAS's Business (Rev 2018) Could be Spun Off/Sold
  • Upcoming Catalyst: Expected to be Announced in a Few Weeks (End of June)
  • Same MAS Management Team From the 2015 Spinoff / MAS Enters the ESS Model Portfolio With a +3% Weighting at the End of Today's (June 7) VWAP / Analysis Out Shortly
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