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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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"ValueWorks remains highly bullish on the US and global economic outlook, expecting years of technology-driven expansion and highlighting that high real interest rates give policymakers ample buffer to support growth."
In the Q3 2025 investor letter, Charles Lemonides of ValueWorks outlines a highly bullish stance on the market, noting that the current bull market lacks systemic imbalances and has a clear runway to 'let her rip.' Growth is supported by private-sector technological innovation, specifically AI, and bolstered by policy flexibility via high real interest rates. ValueWorks continues to implement its disciplined value strategy, focusing on deeply undervalued, high-growth potential assets (concentrated in Energy, Industrials, and Technology) and maintaining a target portfolio of 25-35 holdings.
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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: ValueWorks remains highly bullish on the US and global economic outlook, expecting years of technology-driven expansion and highlighting that high real interest rates give policyma...
Growth Outlook
Market outlook remains high conviction: ValueWorks remains highly bullish on the US and global economic outlook, expecting years of technology-driven expansion and highlighting that high real interest rates give policyma...
Risk Appetite
Risk appetite posture is high conviction: ValueWorks remains highly bullish on the US and global economic outlook, expecting years of technology-driven expansion and highlighting that high real interest rates give policyma...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. ValueWorks remains highly bullish on the US and global economic outlook, expecting years of technology-driven expansion and highlighting that high real interest rates give policyma...
Forward Guidance
Forward guidance signal: ValueWorks remains highly bullish on the US and global economic outlook, expecting years of technology-driven expansion and highlighting that high real interest rates give policyma...
Language Signal
Tone analysis indicates high conviction language: ValueWorks remains highly bullish on the US and global economic outlook, expecting years of technology-driven expansion and highlighting that high real interest rates give policyma...
Perceived Risk
Perceived risk level is evaluated as low conviction. ValueWorks remains highly bullish on the US and global economic outlook, expecting years of technology-driven expansion and highlighting that high real interest rates give policyma...
Opportunity Density
Opportunity density index indicates high conviction actionable entry points. ValueWorks remains highly bullish on the US and global economic outlook, expecting years of technology-driven expansion and highlighting that high real interest rates give policyma...
Time Horizon
Investment time horizon reflects a above average conviction orientation. ValueWorks remains highly bullish on the US and global economic outlook, expecting years of technology-driven expansion and highlighting that high real interest rates give policyma...
