What to Know About This Fund's $7 Million Bet on Calvin Klein and Tommy Hilfiger Owner PVH

On May 21, 2026, Access Investment Management disclosed a new position in PVH (NYSE:PVH), acquiring 107,950 shares—an estimated $7.09 million trade based on quarterly average pricing.

What happened

According to an SEC filing dated May 21, 2026, Access Investment Management established a new position in PVH by acquiring 107,950 shares. The estimated transaction value was $7.09 million, calculated using the average unadjusted closing price for the quarter. At quarter-end, the PVH stake was valued at $7.53 million, reflecting both the new shares and price changes during the period.

What else to know

• This was a new position for the fund, representing 2% of 13F reportable assets under management as of March 31, 2026.
• Top holdings after the filing:
  • NYSE: JBL: $31.07 million (8.3% of AUM)
  • NYSE: URI: $23.26 million (6.2% of AUM)
  • NYSE: SF: $15.80 million (4.2% of AUM)
  • NYSE: APO: $15.76 million (4.2% of AUM)
  • NYSE: SON: $15.68 million (4.2% of AUM)
• As of May 21, 2026, PVH shares were priced at $86.71, up about 5% over the past year and underperforming the S&P 500, which is instead up about 27%.

Company overview

Company snapshot

• PVH offers a diversified portfolio of apparel and accessories, including dress shirts, sportswear, jeans, underwear, handbags, footwear, and fragrances under brands such as Tommy Hilfiger, Calvin Klein, and others.
• The firm generates revenue through a mix of wholesale distribution, direct retail (full-price and outlet stores), concessions, and digital commerce channels across approximately 40 countries.
• It targets a global customer base spanning men, women, and children, with products positioned for both premium and mass-market segments.

PVH is a leading global apparel manufacturer with a broad brand portfolio and significant international reach. The company leverages its owned and licensed brands to capture market share in both wholesale and direct-to-consumer channels. Its scale, multi-channel distribution, and strong brand equity provide a competitive advantage in the consumer cyclical sector.

What this transaction means for investors

This purchase looks like a vote of confidence in a turnaround story that may be entering a new phase. PVH's stock has lagged the broader market this past year, but management has been making progress on profitability, and recent organizational changes could position the company for stronger growth over the next several years.

The company finished 2025 with revenue up 3% to $8.95 billion and delivered non-GAAP earnings per share of $11.40, ahead of guidance calling for up to $11 per share. Fourth-quarter revenue rose 6% to $2.5 billion, while management said both Calvin Klein and Tommy Hilfiger entered 2026 with positive momentum and that it expects direct-to-consumer growth across all regions this year.

Separately, PVH announced earlier this week that it promoted Adelyn Cheong, who helped drive growth and digital expansion in China, to CEO of PVH Americas, while adding new executives focused on licensing, partnerships, expansion, consumer insights, and brand strategy. Management framed the moves as part of the next stage of its transformation plan.

The biggest risk remains tariffs, which had a negative impact of 170 basis points on the firm’s operating margin and could pressure margins again in 2026. Still, PVH expects revenue growth, plans at least $300 million of share repurchases this year, and continues to invest behind two of the strongest brands in global apparel. The newest earnings report is due out early next month.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.