Core Viewpoint - Cummins (CMI) is characterized as a cyclical company with strong long-term fundamentals, making it a 'trading stock' in the market [1]. Group 1: Company Analysis - The company is favored for its high-quality stock and strong business model, particularly those led by disciplined capital allocators [1]. - Cummins is noted for generating exceptional returns on capital and has the potential to compound invested capital over extended periods [1].