Resolute Holdings Management, Inc.

What they do

Resolute Holdings provides operating management services to GPGI Holdings, L.L.C. and, as of January 12, 2026, Husky Holdings LLC, generating recurring, long-duration management fees. It applies the Resolute Operating System to drive performance at managed businesses and uses M&A and capital markets expertise to support inorganic growth. It consolidates GPGI Holdings, a variable interest entity of which it is deemed primary beneficiary, though it owns no equity in GPGI Holdings, Husky Holdings, or GPGI, Inc. Its fees come from the CompoSecure and Husky management agreements.

Revenue drivers

• Management fees — The standalone segment reported management fees of $13.6 million in Q2 2026, up from $3.4 million in Q2 2025, driven by the Husky management agreement executed in January 2026 and organic growth in CompoSecure fees.
• CompoSecure management agreement — Resolute Holdings earns fees from GPGI Holdings under the CompoSecure management agreement; CompoSecure is described as the global leader in premium metal payment cards and secure authentication solutions.
• Husky management agreement — Fees from Husky Holdings commenced after the January 2026 agreement; Husky, founded 1953 and headquartered in Bolton, Ontario, is described as the leading global manufacturer of highly engineered injection molding equipment and aftermarket tooling and services.

Recent performance

For the second quarter ended June 30, 2026, Resolute Holdings reported management fees of $13.6 million, operating expenses of $4.4 million, and income from operations of $9.2 million. GAAP net loss attributable to common stockholders was $12.4 million, or diluted EPS of $(1.53), including $20.7 million of income tax expense, compared to a net loss of $0.6 million, or $(0.07) per share, in the prior-year quarter. Non-GAAP Fee-Related Earnings were $5.6 million, or $0.69 per diluted share, versus $0.7 million, or $0.08, a year earlier. The company repurchased $50.0 million of common shares during the second quarter and through the end of July, reducing shares outstanding by approximately 8.3% since the spin-off.

Strategy

Resolute Holdings aims to generate recurring, long-duration management fees from GPGI Holdings and Husky Holdings and other companies it may manage in the future, in the U.S. and internationally. It applies the Resolute Operating System to drive performance at managed businesses and uses M&A and capital markets expertise to support inorganic growth. The company continues to pursue management agreements with additional managed companies and has demonstrated capital return through share repurchases. It also completed a redomiciliation from Delaware to Nevada on March 2, 2026, and transferred its stock listing to the NYSE on September 23, 2025.

Risks

• Dependence on two managed businesses — Results of operations and financial condition are substantially dependent on CompoSecure and Husky, so their performance directly affects management fees.
• Termination or reduction of management agreements — Termination of the CompoSecure Management Agreement, the Husky Management Agreement, or other management agreements, or reduction of fees, would materially and adversely affect Resolute Holdings.
• Key personnel — The company and its managed companies depend on key personnel, particularly David Cote and Tom Knott.
• Concentration and limited number of agreements — Resolute Holdings may enter into management agreements with a limited number of companies or with companies concentrated in certain industries or geographic regions, which could negatively affect performance.

Outlook

The earnings release states that the increase in Non-GAAP profitability was driven by the higher fee stream from the Husky management agreement and organic growth in CompoSecure fees. Management presents Fee-Related Earnings to show the economic performance of the standalone business, which consists of recurring, long-duration management fees and a relatively fixed expense base. The company noted share repurchases of $50.0 million in the second quarter and through July, reducing shares outstanding by approximately 8.3% since the spin-off.