MoatScopeResolute Holdings Management, Inc.RHLD
Spin-off from CompoSecure, Inc. (CMPO) · Feb 28, 2025 · Nasdaq
one share of Resolute Holdings common stock for every twelve shares of CompoSecure common stock
Documents
Both companies today
Not in MoatScope's coverage yet — numbers appear once the shares trade and the first filings land.
Moat ratings, quality scores and fair value estimates are MoatScope research opinions and refresh with the data pipeline. Price / FV below 1.00× means the shares trade under our base-case estimate.
What is being separated
Resolute Holdings is an asset-light management company led by David Cote and Tom Knott that earns management fees from CompoSecure Holdings under a long-term management contract, with the intent to manage additional acquired businesses over time. CompoSecure keeps its metal payment-card manufacturing business.
Stated rationaleThe separation lets shareholders own the management platform and the operating business as two distinct securities, with Resolute's fee stream tied to CompoSecure's earnings and future acquisitions.
The four questions
Indiscriminate selling
StrongManagement incentives
StrongThe hidden jewel
PartialLeverage
AbsentThe write-up
CompoSecure distributed Resolute Holdings Management on February 28, 2025, one Resolute Holdings share for every twelve CompoSecure shares. Resolute Holdings is an asset-light management company led by David Cote and Thomas Knott, whose investment firm had bought control of CompoSecure — the metal payment-card manufacturer — in 2024; it earns management fees from CompoSecure Holdings under a long-term contract, including on any additional businesses CompoSecure acquires. On MoatScope's framework Resolute Holdings carries no moat rating and a quality score of 56 at a $1.2 billion market value, trading at $136.59, with no meaningful earnings-based fair value estimate at this stage. CompoSecure is not in MoatScope's coverage.
Not investment advice. Terms are as stated in the latest filing; spin-off shares are often thinly covered and volatile in their first months. Write-up dated Sep 8, 2026.