| ANNUALIZED SINCE INCEPTION | QUARTERLY | YTD |
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Peak Asset Management's Q1 2026 letter reflects on a volatile quarter where the S&P 500 declined 4.33% before recovering to near-neutral territory. Manager John McCorvie acknowledges elevated uncertainty stemming from the Iran War and rapid AI development, but emphasizes that risk management rather than risk avoidance is key to successful investing. He identifies three critical market health indicators: oil prices (currently spiked due to Strait of Hormuz supply restrictions), interest rates (stable in 4.0%-4.5% range), and S&P 500 earnings estimates (remaining at all-time highs driven by AI infrastructure spending). The AI theme presents both opportunities and uncertainties around capital spending sustainability, component supplier margins, revenue timing, and productivity outcomes. While geopolitical tensions create near-term volatility, the manager's three-decade experience reinforces his conviction that disciplined risk management, not risk avoidance, drives long-term investment success. The letter concludes with personal reflections on the Winter Olympics and new business partnerships.
Despite elevated uncertainty from geopolitical tensions and AI development questions, the manager maintains that successful portfolio management requires managing risks rather than avoiding them, while monitoring key indicators like oil prices, interest rates, and earnings growth.
The manager expresses elevated uncertainty about the economic outlook, citing geopolitical risks from the Iran War and questions around AI development trajectory. He emphasizes that while risks always exist, successful investing requires managing rather than avoiding risk.
| Date | Letter | Tickers | Keywords | Pitches | Quick Takes |
|---|---|---|---|---|---|
| Apr 16 2026 | 2026 Q1 | - | AI, earnings, growth, inflation, Iran, oil, rates | - | Peak Asset Management navigated Q1 2026 volatility with the S&P 500 recovering from a 9% decline to near-neutral levels. Manager McCorvie monitors oil prices, interest rates, and AI-driven earnings growth as key market health indicators. Despite elevated uncertainty from Iran War and AI development questions, he emphasizes disciplined risk management over risk avoidance for long-term investment success. |
| Jan 16 2026 | 2025 Q4 | AAPL, AMZN, GOOGL, MSFT, NVDA | AI, large cap, Overvaluation, risk management, technology, value | - | Peak Asset Management maintains defensive positioning amid market overvaluation concerns, owning quality large-cap technology companies while holding Treasury Notes and cash as safe havens. The firm focuses on intrinsic value investing, citing Buffett's warnings about market froth, and expects AI data center spending and Fed leadership changes to drive markets ahead. |
| Oct 15 2025 | 2025 Q3 | - | Bubble, Federal Reserve, risk management, technology, valuation | - | Peak Asset Management delivered strong Q3 performance amid AI bubble fears and elevated valuations. The S&P 500's 14.83% YTD return masks concentration risks in Technology sectors. Fed rate cuts and contrarian bubble psychology suggest opportunities exist. The firm maintains disciplined risk management through diversification rather than market timing, positioning clients to capture rewards while preserving capital. |
| Jul 16 2025 | 2025 Q2 | BRK-A, EMR, PG | AI, Data centers, dividends, tax policy, uncertainty, value | - | Peak Asset Management maintains disciplined value investing approach despite elevated market valuations making quality opportunities scarce. The firm emphasizes dividend-paying companies and continues long-term holdings like Berkshire Hathaway. While supportive factors including tax certainty and AI investments drive markets higher, the manager warns of investor complacency risks and stays focused on core investment discipline. |
| Apr 28 2025 | 2025 Q1 | - | tariffs, Trade Policy, uncertainty, US, volatility | - | Peak Asset Management weathered Q1 2025 volatility driven by Trump administration tariff policies. After hitting February highs, markets declined amid trade war uncertainty before recovering on tariff pause news. The manager maintains disciplined asset allocation approach, matching investments to client cash flow needs while building conviction positions during market turbulence. |
| Jan 22 2025 | 2024 Q4 | AJG, AMD, BA, CR, NVDA, ORCL, TTAN, TYL | aerospace, AI, Concentration, healthcare, insurance, software, valuation |
CR AJG TYL CR TTAN CR CR AJG TYL TTAN |
Sandhill navigates AI-driven market concentration by emphasizing diversification and valuation discipline. While maintaining AI exposure, the team finds opportunities in overlooked sectors like software and aerospace, adding positions in Crane, Arthur J. Gallagher, Tyler Technologies, and ServiceTitan. Manager remains cautious but opportunistic amid elevated valuations and economic uncertainty. |
| Oct 18 2024 | 2024 Q3 | - | active management, Cash, fixed income, Quality, Valuations, volatility | - | Sandhill successfully navigated Q2 2025 volatility by deploying cash during a 20% correction followed by a 25% rebound. Their quality-focused active management approach added new positions at compelling valuations, then trimmed as markets recovered. Now cautious on elevated valuations and macro headwinds including inflation and tariff uncertainty, while maintaining flexibility through increased cash positions. |
| Jul 15 2024 | 2024 Q2 | ANET, JPM, TT | Banking, HVAC, Quality, tariffs, technology, volatility |
JPM ANET TT |
Sandhill navigates tariff-induced market volatility by deploying above-average cash positions into high-quality names like JPM, ANET, and TT. Focus remains on low-leverage companies with strong balance sheets as S&P 500 valuations compress from 22x to 18x forward P/E. Views current uncertainty as opportunity for quality companies to gain market share. |
| Apr 15 2024 | 2024 Q1 | - | diversification, inflation, international, Recession, tariffs, Trade Policy, value | - | Trade policy uncertainty drove Q1 volatility with S&P 500 down 4.8% while diversified portfolios held up better. Tariff implementation exceeded expectations, raising recession risks to 50%. Lexington maintains conviction in balanced, long-term positioning over reactive trading. Recent 90-day tariff pause provides relief potential. Underlying economy remains healthy despite policy-driven market stress. |
| Jan 16 2024 | 2023 Q4 | AAPL, AMZN, AVGO, GOOGL, INTC, META, MSFT, NVDA, ORCL, TSLA | AI, China, Federal Reserve, gold, Precious Metals, rates, technology, Valuations | - | AI fever and Fed easing drove exceptional Q3 performance with Nvidia leading technology gains and precious metals surging. Manager maintains US tech exposure while emphasizing undervalued ex-US opportunities, particularly Chinese internet stocks. Physical gold and silver provide portfolio insurance against fiscal irresponsibility. Key risks include elevated valuations and tariff inflation, while Fed easing cycle supports continued momentum. |
| Oct 18 2023 | 2023 Q3 | AAPL, AMZN, GOOGL, META, MSFT, NVDA, TSLA, VOW3.DE | AI, Buybacks, gold, infrastructure, Japan, technology, Trump, US | - | TEAM capitalized on Trump-driven US mega-cap technology surge with Magnificent 7 stocks delivering 67% returns as core holdings. Systematic framework maintained alignment with American exceptionalism trends while avoiding major detractors. Entering 2025 with overweight equities via barbell approach: US tech core, ex-US satellite. Key themes include AI productivity, infrastructure spending, and gold as dollar debasement hedge. |
| Jul 14 2023 | 2023 Q2 | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZJ.AX, CABK.MC, CIP.AX, COL.AX, CS1.AX, EDV.AX, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, LLOY.L, MSCI, NEE, NEM, NST.AX, QUB.AX, TECK, WYNN | Banking, commodities, Copper, Europe, gold, Macau, Mining, value | - | PM Capital's Global Companies Fund outperformed with 10% quarterly returns, driven by copper and gold positions benefiting from supply disruptions and record prices. European banks gained on yield curve steepening while Macau gaming recovered strongly. The fund maintains contrarian positioning in undervalued cyclicals, exiting fully-valued holdings like Airbus while reducing overall exposure. |
| Apr 14 2023 | 2023 Q1 | 1928.HK, 2282.HK, AIB.I, BIRG.I, CABK.MC, CGF.AX, CRN.AX, CSC.AX, DGE.L, EDV.AX, FCX, FDV.AX, GQG.AX, HEIA.AS, INGA.AS, LLOY.L, NEM, RI.PA, SAN.PA, SHEL.L, SIE.DE, SPC.L, TECK, WYNN | commodities, Copper, Defense Spending, European Banks, gaming, gold, Onshoring, tariffs |
LYG CABK.MC INGA.AS BIRG.I AIBG.I NEM FCX SIE.DE |
PM Capital delivered 8.1% quarterly returns driven by European banks and commodities exposure. European banks rallied on infrastructure spending expectations while trading at significant discounts to global peers. Commodities benefited from geopolitical tensions and supply constraints. The fund capitalizes on US-China decoupling through reshoring and onshoring themes, requiring patient capital for multi-year thesis realization. |
| Jan 12 2023 | 2022 Q4 | - | - | - | |
| Oct 13 2022 | 2022 Q3 | - | - | - |
| QUARTER | THEMES | TAGS |
|---|---|---|
| 2026 Q1 |
AIThe manager discusses artificial intelligence as a major driver of earnings growth through massive capital investment in infrastructure build-out. Key uncertainties include sustainability of capital spending levels, cyclically elevated profit margins on component suppliers, timing of AI revenue generation, and productivity outcomes as the transition moves from building to implementation. |
Infrastructure Capital Investment Earnings Productivity Revenue |
OilOil prices are being monitored as a key indicator for market health, with recent spikes linked to supply restrictions through the Strait of Hormuz due to the Iran War. Further price increases would signal prolonged shortages, potentially reducing global growth and increasing inflationary pressures. |
Supply Inflation Growth Iran Hormuz | |
| 2025 Q4 |
AIAI developments from major companies are causing rapid market changes and stock price declines for quality businesses. The manager sees AI creating potential headwinds for software companies through reduced seat counts, lower pricing power, and increased competition from AI-first upstarts. However, believes many software solutions cannot be easily replaced and is reviewing opportunities in the wreckage. |
Software Disruption Valuation Competition Technology |
SoftwareSoftware companies are experiencing significant declines as the market reassesses AI impacts. The manager identifies three vectors negatively affecting valuations: fewer seats due to efficiency gains, lower pricing power from AI competition, and reduced new customer bookings. Despite headwinds, believes there are software solutions that won't be easily replaced by AI. |
SaaS Pricing Competition Efficiency Disruption | |
Home ImprovementFloor & Decor represents an attractive long-term opportunity following the Home Depot disruption model in flooring. The company has depressed margins due to post-COVID hangover and higher interest rates affecting home sales. Manager expects significant margin expansion as sales per store recover and the company builds out its store base. |
Retail Margins Expansion Cyclical Recovery | |
| 2025 Q3 |
AIThe letter discusses the AI bubble fears, noting that Google Search index for AI bubble rose from zero in mid-September to 100 on October 2nd. The manager views the widespread bubble concerns as potentially contrarian, suggesting the market may not actually be in an AI bubble because too many people are worried about it being one. |
Bubble Technology Valuation |
RatesThe Federal Reserve cut its Federal Funds overnight interest rate on September 17th by 0.25%, the first cut since December. The Fed is balancing jobs, inflation, fiscal policy, economic uncertainty, and politics. The manager notes that big interest rate moves do not currently appear to be required given the stock market at all-time highs. |
Federal Reserve Monetary Policy Interest Rates | |
| 2025 Q2 |
DividendsDividends continue to play an important role in the portfolio strategy. Over the last 50 years, dividend payers in the S&P 500 delivered 9.2% annualized returns compared to just 4.3% for non-payers. Companies that pay dividends demonstrate consistent profitability and judicious cash deployment. |
Dividend Yield Cash Flow Income Payout Ratio |
ValueThe firm maintains its strategic and disciplined approach to value investing, focusing on paying reasonable prices for great businesses. However, current market conditions present challenges as solid businesses like Procter & Gamble trade at premium P/E ratios of 24x despite historical growth rates of only 5-7%. |
P/E Ratio Intrinsic Value Discount Growth Rate | |
AIArtificial intelligence represents a significant driver of corporate investment and market activity. Companies are making huge investments in building data centers and research and development in AI, contributing to current market valuations and economic activity. |
Data Centers R&D Technology Investment | |
| 2025 Q1 |
Trade PolicyThe Trump administration implemented tariffs on Canada, Mexico and China on February 1st as pressure to stop Fentanyl flow. Liberation Day on April 2nd launched broader tariffs that spooked investors and caused a three-day mini-crash. A ninety day pause on reciprocal tariffs for seventy plus countries was announced April 9th. |
Tariffs China Trade War Liberation Day Fentanyl |
VolatilityThe manager expected significant volatility in 2025 after two consecutive 20%+ years. The S&P 500 hit all-time highs in February then declined into negative territory. Double digit pullbacks are historically regular occurrences even in bull markets, and current valuation metrics are at historically demanding levels. |
S&P 500 Pullbacks Bull Markets Valuation Swings | |
| 2024 Q4 |
AIAI capital expenditure boom continues driving market concentration with eight companies representing 38% of S&P 500. Manager questions sustainability given minimal revenue generation versus massive capital deployment into data centers. Energy constraints pose potential bottlenecks for ambitious growth projections. |
Data Centers Semiconductors Cloud Energy Concentration |
SoftwareManager sees opportunity in software sector where sentiment has turned overly pessimistic amid AI displacement fears. Added to Tyler Technologies serving local governments with high switching costs and initiated ServiceTitan position leveraging AI for productivity gains in trades industry. |
SaaS Government Automation Productivity | |
AerospaceBoeing increasing near-term production schedule with massive backlog for both Boeing and Airbus aircraft. Added to Crane position benefiting from aerospace division growth driven by this long-term secular trend in aircraft demand. |
Defense Manufacturing Backlog | |
| 2024 Q3 |
QualityManager emphasizes owning quality assets with strong management teams, low debt levels, healthy cash flows, and exposure to long-term secular growth trends. These companies tend to outperform over time and press their advantage during economic downturns. |
Quality Cash Flow Management Secular Growth |
VolatilityThe letter highlights significant market volatility with a 20% correction followed by a 25% rebound, marking the second-fastest recovery from bear market low to new high in 75 years. Manager views volatility as opportunity for active management. |
Volatility Bear Market Rebound Active Management | |
| 2024 Q2 |
Trade PolicyNewly announced U.S. tariffs on the rest of the world are creating market instability and uncertainty. These tariffs will increase costs to corporations and consumers, dampen demand, and push the global economy toward recession if they remain in place. |
Tariffs Trade Policy Uncertainty Costs |
Data CentersArista Networks is benefiting from continued growth due to acceleration in AI-related data center spend. The company has been taking share in its core markets for years and is positioned for continued growth. |
AI Infrastructure Networking Growth | |
HVACTrane Technologies benefits from long-term structural demand driven by rising global temperatures, improved indoor air quality standards, and a growing push for energy efficiency in commercial HVAC equipment and services. |
Climate Efficiency Commercial Equipment | |
| 2024 Q1 |
Trade PolicyThe administration's trade policies and tariff implementation created significant market uncertainty. The scope of Liberation Day tariffs was a negative surprise, representing carpet bombing rather than targeted reciprocal tariffs. The administration wants to increase tariff revenue by $600b per year to fund tax cuts. |
Tariffs Trade War Reciprocal Liberation Day Revenue |
InflationRising inflation expectations combined with potential stagflation concerns complicate Fed policy. The potential for higher inflation and weaker growth changes the calculus for rate cuts. Consumer confidence dropped sharply amid inflation expectations. |
Stagflation Fed Policy Rate Cuts Expectations | |
Risk AppetiteMarket sentiment shifted from post-election optimism to concern about recession risks. Economists estimate recession risks at around 50%, up from 15% in January. Investors sought refuge in value and international stocks as growth stocks declined sharply. |
Recession Risk Flight to Quality Diversification Uncertainty | |
| 2023 Q4 |
AIAI fever has gripped markets with the Magnificent 7 recapturing leadership. Nvidia delivered extraordinary results with $47 billion revenue and announced major investments in Intel and OpenAI partnerships. The AI capex mania has added $15 trillion to S&P 500 market cap since April, with AI-related companies driving 75% of index returns and 90% of capex growth since ChatGPT launch. |
Nvidia Data Centers Capex Infrastructure Semiconductors |
GoldPhysical gold and miners delivered phenomenal returns with gold up 19% and mining stocks up 50%. Central banks continue accumulating gold as marginal buyers, while ETF inflows surged to 420 tonnes in first nine months. The manager views this as early innings of a secular bull market driven by dollar debasement and structural supply-demand imbalances. |
Central Banks ETF Inflows Dollar Debasement Mining Stocks Bull Market | |
SilverSilver returned over 30% during the quarter. The manager introduced physical silver exposure based on chronic supply deficits expected for the next 5 years and increasing industrial demand from data centers, EVs, and solar sectors. Silver is positioned alongside gold to deliver long-term portfolio benefits. |
Supply Deficit Industrial Demand Solar Electric Vehicles | |
ChinaChinese equities broke out to decade-plus highs with Shanghai Index returning 15.7%. The manager prefers Chinese internet companies trading at 65% discount to US counterparts while earnings continue inflecting upwards. China's growing competitiveness in high-tech sectors including robots and automation is underappreciated by markets. |
Internet Valuation Discount High-tech Automation Earnings | |
RatesFederal Reserve delivered a 25 basis point cut described as risk management to forestall labor market weakness. Markets are pricing two more cuts this year despite concerns about tariff-driven inflation. The manager remains skeptical about long-term government bond pricing given fiscal sustainability concerns across G7 nations. |
Federal Reserve Rate Cuts Labor Market Fiscal Sustainability Government Bonds | |
| 2023 Q3 |
AIManager emphasizes AI as a key driver of American productivity surge and mega-cap technology outperformance. Notes that companies are making good on impressive revenue and margin growth from AI investments, though acknowledges a meaningful consumer application is still needed to justify extraordinary semiconductor chip investments. |
Artificial Intelligence Productivity Semiconductors Technology Revenue Growth |
Infrastructure SpendingUS infrastructure receives C- grade from American Society of Civil Engineers, highlighting chronic need for major investment. Manager views effective infrastructure investment as one of the most productive uses of government spending and anticipates Trump administration will provide large earnings visibility window for exposed companies. |
Infrastructure Government Spending Investment Gap Earnings Visibility Trump | |
GoldPhysical gold serves as essential portfolio insurance against long-term dollar debasement. Record central bank buying since Q3 2022, potentially triggered by US freezing Russia's reserves. Gold touched new all-time highs and uniquely rallied 25%+ while US dollar rose 5%+ in 2024. |
Central Bank Buying Dollar Debasement Portfolio Insurance All-time Highs Currency | |
BuybacksJapan's corporate governance revolution driving enhanced returns through rising dividends and share buybacks. Share buybacks surged to record ¥15 trillion this fiscal year compared with ¥8 trillion same period last year as companies improve balance sheet efficiency. |
Corporate Governance Japan Balance Sheet Efficiency Dividends Tokyo Stock Exchange | |
| 2023 Q2 |
CopperPortfolio heavily weighted toward copper producers including Teck Resources, Freeport-McMoRan, and Grupo Mexico. Copper prices rose 5% in September following supply disruptions at major mines. The Grasberg mine accident and other supply issues shifted market expectations from surplus to deficit heading into 2026. |
Copper Miners Supply Disruption Deficit Industrial Metals |
GoldGold positions benefited from 17% price rise to all-time high of US$3,873. Newmont gained 45% and Northern Star rallied 26%. Despite record gold prices, investor ownership of gold equities remains low, with valuations still attractive and competitive capital returns relative to broader market. |
Gold Miners Record Prices Undervaluation Capital Returns | |
BankingEuropean bank positions delivered strong results with steeper yield curve and growing confidence in infrastructure spending driving economic activity. Caixabank rose 22% yet still trades below 11 times earnings, planning €12bn shareholder returns equivalent to 20% of market cap. |
European Banks Yield Curve Infrastructure Spending Shareholder Returns | |
CasinosMacau gaming positions including Wynn Resorts, Sands China and MGM China all gained over 30%. Industry-wide entertainment revenue growth accelerated through the year, driving renewed investor optimism after weak sentiment earlier in 2025 amid China economic concerns. |
Macau Gaming Revenue Growth China Recovery Entertainment | |
| 2023 Q1 |
European UnionEuropean banks are significantly undervalued relative to US and Australian peers. Rising infrastructure and defence spending in Europe will stimulate industrial activity and credit demand. A reviving European economy could create jobs and boost anaemic credit growth, aiding European banks. |
Banking Infrastructure Defense Valuation Credit |
CommoditiesUnderinvestment in resource projects will constrain commodity supply, supporting higher metal prices. President Trump is using commodities as bargaining chips for trade concessions. These artificial barriers coincide with decades of global underinvestment and new drivers from the transition to renewables. |
Copper Gold Supply Trade Renewables | |
OnshoringThe COVID-19 pandemic encouraged multinationals to increase manufacturing at home to reduce global supply chain risks. President Trump wants more manufacturing to return to the US, and his use of tariffs could accelerate global reshoring as companies increase local production to avoid import tariffs. |
Manufacturing Supply Chain Tariffs Automation Trade Policy | |
GamingGaming positions provided positive contributions with MGM China rising 23% and Wynn Resorts gaining 12%. The sector rebounded in June driven by improved Macau gaming data and tourism recovery, though faced pressure earlier from US tariff concerns. |
Macau Tourism Recovery Tariffs Market Share |
| Date | Pitch Type | Author | Ticker | Company | Industry | Sub Industry | Bull / Bear | Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|---|
| Oct 1, 2025 | Fund Letters | Peak Asset Management | CR | Crane Company | Industrials | Industrial Machinery | Bull | NYSE | Aerospace, Airbus, Boeing, Industrial technology, manufacturing, secular growth | Login |
| Oct 1, 2025 | Fund Letters | Peak Asset Management | CR | Crane Company | Industrials | Industrial Machinery | Bull | NYSE | Aerospace, Airbus, Boeing, Industrial technology, manufacturing, secular growth | Login |
| Oct 1, 2025 | Fund Letters | Peak Asset Management | TYL | Tyler Technologies Inc. | Information Technology | Application Software | Bull | NYSE | Defensive Software, Fragmented Market, government software, high switching costs, Local Government, Mission-Critical | Login |
| Oct 1, 2025 | Fund Letters | Peak Asset Management | AJG | Arthur J. Gallagher & Co. | Financials | Insurance Brokers | Bull | NYSE | acquisition, consolidation, earnings growth, Insurance Broker, Mid-market, Roll-up Strategy | Login |
| Oct 1, 2025 | Fund Letters | Peak Asset Management | TTAN | ServiceTitan Inc. | Information Technology | Application Software | Bull | NASDAQ | AI integration, Automation, Electrical, first-mover advantage, HVAC, Plumbing, Professionalization, Trades Industry, vertical software | Login |
| Oct 1, 2025 | Fund Letters | Peak Asset Management | TTAN | ServiceTitan Inc. | Information Technology | Application Software | Bull | NASDAQ | AI integration, Automation, Electrical, first-mover advantage, HVAC, Plumbing, Professionalization, Trades Industry, vertical software | Login |
| Oct 1, 2025 | Fund Letters | Peak Asset Management | CR | Crane Company | Industrials | Industrial Machinery | Bull | NYSE | Aerospace, Airbus, Boeing, Industrial technology, manufacturing, secular growth | Login |
| Oct 1, 2025 | Fund Letters | Peak Asset Management | AJG | Arthur J. Gallagher & Co. | Financials | Insurance Brokers | Bull | NYSE | acquisition, consolidation, earnings growth, Insurance Broker, Mid-market, Roll-up Strategy | Login |
| Oct 1, 2025 | Fund Letters | Peak Asset Management | TYL | Tyler Technologies Inc. | Information Technology | Application Software | Bull | NYSE | Defensive Software, Fragmented Market, government software, high switching costs, Local Government, Mission-Critical | Login |
| Oct 1, 2025 | Fund Letters | Peak Asset Management | CR | Crane Company | Industrials | Industrial Machinery | Bull | NYSE | Aerospace, Airbus, Boeing, Industrial technology, manufacturing, secular growth | Login |
| Apr 1, 2025 | Fund Letters | Peak Asset Management | ANET | Arista Networks | Information Technology | Communications Equipment | Bull | NYSE | AI, Cloud computing, data center, growth, infrastructure, market share, Networking, technology | Login |
| Apr 1, 2025 | Fund Letters | Peak Asset Management | JPM | J.P. Morgan | Financials | Banks | Bull | NYSE | Bank, defensive, financial services, large-cap, Quality, Value, yield | Login |
| Apr 1, 2025 | Fund Letters | Peak Asset Management | TT | Trane Technologies | Industrials | Building Products | Bull | NYSE | Building Products, Climate, Commercial, energy efficiency, HVAC, Industrial, Structural Demand, Sustainability | Login |
| Jun 30, 2025 | Fund Letters | Peak Asset Management | LYG | Lloyds Banking Group | Financials | Banks | Bull | London Stock Exchange | banking, Equity, Europe, European banks, financials, UK, undervalued, Value | Login |
| Jun 30, 2025 | Fund Letters | Peak Asset Management | CABK.MC | CaixaBank | Financials | Banks | Bull | Madrid Stock Exchange | banking, Equity, Europe, European banks, financials, Spain, undervalued, Value | Login |
| Jun 30, 2025 | Fund Letters | Peak Asset Management | INGA.AS | ING Groep | Financials | Banks | Bull | Euronext Amsterdam | banking, Equity, Europe, European banks, financials, Netherlands, undervalued, Value | Login |
| Jun 30, 2025 | Fund Letters | Peak Asset Management | BIRG.I | Bank of Ireland | Financials | Banks | Bull | Irish Stock Exchange | banking, Equity, Europe, European banks, financials, Ireland, undervalued, Value | Login |
| Jun 30, 2025 | Fund Letters | Peak Asset Management | AIBG.I | AIB Group | Financials | Banks | Bull | Irish Stock Exchange | banking, buyback, Equity, European banks, financials, Government Exit, Ireland, turnaround | Login |
| Jun 30, 2025 | Fund Letters | Peak Asset Management | NEM | Newmont Corporation | Materials | Gold | Bull | New York Stock Exchange | Commodities, Equity, geopolitical, gold mining, materials, Mining, Safe Haven, Value | Login |
| Jun 30, 2025 | Fund Letters | Peak Asset Management | FCX | Freeport-McMoRan Inc. | Materials | Copper | Bull | New York Stock Exchange | Commodities, copper mining, Electric Vehicles, Equity, materials, Mining, renewables, US Reshoring | Login |
| Jun 30, 2025 | Fund Letters | Peak Asset Management | SIE.DE | Siemens AG | Industrials | Industrial Conglomerates | Bull | Frankfurt Stock Exchange | Equity, Factory Automation, Germany, Industrial automation, Industrials, manufacturing, Reshoring, technology | Login |
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