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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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"ACATIS is taking a highly defensive, value-centric approach to start 2026, rotating out of richly valued tech names like Palantir and redeploying into oversold compounders like Adobe amid escalating global geopolitical shifts."
ACATIS's January 2026 report presents a cautious outlook on global markets following a mixed 2025 performance. It emphasizes that extreme market concentration on a few heavyweights made indices difficult to beat without regulatory breaches. Consequently, ACATIS continues to focus on active stock picking in small and mid-sized companies. Key portfolio updates include purchasing structurally strong, undervalued names (such as EPAM, Adobe, Alpha Metallurgical Resources, and KKR) and divesting from fully valued companies or those with elevated geopolitical and regulatory risks (including Palantir, Danaher, and Deutsche Börse). A significant portion of the report evaluates the global macro landscape, analyzing the geopolitical implications of the January 3, 2026 US military action in Venezuela, arguing that US energy dominance will severely impact Russia and Iran, shaping a new world order where 2026 serves as a highly decisive year.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: ACATIS is taking a highly defensive, value-centric approach to start 2026, rotating out of richly valued tech names like Palantir and redeploying into oversold compounders like Ado...
Growth Outlook
Market outlook remains moderate conviction: ACATIS is taking a highly defensive, value-centric approach to start 2026, rotating out of richly valued tech names like Palantir and redeploying into oversold compounders like Ado...
Risk Appetite
Risk appetite posture is moderate conviction: ACATIS is taking a highly defensive, value-centric approach to start 2026, rotating out of richly valued tech names like Palantir and redeploying into oversold compounders like Ado...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. ACATIS is taking a highly defensive, value-centric approach to start 2026, rotating out of richly valued tech names like Palantir and redeploying into oversold compounders like Ado...
Forward Guidance
Forward guidance signal: ACATIS is taking a highly defensive, value-centric approach to start 2026, rotating out of richly valued tech names like Palantir and redeploying into oversold compounders like Ado...
Language Signal
Tone analysis indicates above average conviction language: ACATIS is taking a highly defensive, value-centric approach to start 2026, rotating out of richly valued tech names like Palantir and redeploying into oversold compounders like Ado...
Perceived Risk
Perceived risk level is evaluated as above average conviction. ACATIS is taking a highly defensive, value-centric approach to start 2026, rotating out of richly valued tech names like Palantir and redeploying into oversold compounders like Ado...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. ACATIS is taking a highly defensive, value-centric approach to start 2026, rotating out of richly valued tech names like Palantir and redeploying into oversold compounders like Ado...
Time Horizon
Investment time horizon reflects a high conviction orientation. ACATIS is taking a highly defensive, value-centric approach to start 2026, rotating out of richly valued tech names like Palantir and redeploying into oversold compounders like Ado...
