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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"JB Global Capital delivered a stellar 67.5% return in 2025 despite a Q4 pullback in Alibaba, staying firmly committed to deep contrarian value plays like Clorox while shunning the US tech bubble."
In Q4 2025, the JB Global Capital Fund fell 8.9% due to a 25% geopolitical-driven drawdown in its largest holding, Alibaba, but finished the full year up 67.5%—significantly outperforming the S&P 500 and VT World Index. The fund maintains its deliberate stance against high-flying US AI stocks due to valuation concerns, pointing to Amazon's post-2000 peak as a cautionary tale. During the quarter, the fund trimmed its Alibaba position slightly and initiated a high-conviction position in Clorox at $104 per share, capitalizing on a botched ERP implementation that depressed the stock to a decade-low valuation. The fund remains highly concentrated, with its top three positions accounting for 82% of assets.
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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: JB Global Capital delivered a stellar 67.5% return in 2025 despite a Q4 pullback in Alibaba, staying firmly committed to deep contrarian value plays like Clorox while shunning the ...
Growth Outlook
Market outlook remains moderate conviction: JB Global Capital delivered a stellar 67.5% return in 2025 despite a Q4 pullback in Alibaba, staying firmly committed to deep contrarian value plays like Clorox while shunning the ...
Risk Appetite
Risk appetite posture is above average conviction: JB Global Capital delivered a stellar 67.5% return in 2025 despite a Q4 pullback in Alibaba, staying firmly committed to deep contrarian value plays like Clorox while shunning the ...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. JB Global Capital delivered a stellar 67.5% return in 2025 despite a Q4 pullback in Alibaba, staying firmly committed to deep contrarian value plays like Clorox while shunning the ...
Forward Guidance
Forward guidance signal: JB Global Capital delivered a stellar 67.5% return in 2025 despite a Q4 pullback in Alibaba, staying firmly committed to deep contrarian value plays like Clorox while shunning the ...
Language Signal
Tone analysis indicates high conviction language: JB Global Capital delivered a stellar 67.5% return in 2025 despite a Q4 pullback in Alibaba, staying firmly committed to deep contrarian value plays like Clorox while shunning the ...
Perceived Risk
Perceived risk level is evaluated as above average conviction. JB Global Capital delivered a stellar 67.5% return in 2025 despite a Q4 pullback in Alibaba, staying firmly committed to deep contrarian value plays like Clorox while shunning the ...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. JB Global Capital delivered a stellar 67.5% return in 2025 despite a Q4 pullback in Alibaba, staying firmly committed to deep contrarian value plays like Clorox while shunning the ...
Time Horizon
Investment time horizon reflects a high conviction orientation. JB Global Capital delivered a stellar 67.5% return in 2025 despite a Q4 pullback in Alibaba, staying firmly committed to deep contrarian value plays like Clorox while shunning the ...
