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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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"A concentrated, long-only value fund focused on neglected micro-caps and deep-value contrarian situations. Under a 0% management / 20% performance fee structure, it has outperformed global equities since 2008."
Olesen Value Fund L.P. is an unconstrained, long-term value fund managed by Christian Olesen, who has 100% of his investable assets committed to the fund. Running a focused portfolio of 10-20 long-only positions with zero leverage, the fund targets neglected micro/small cap equities, contrarian opportunities of any size, and niche event-driven situations. Since inception in December 2008 through July 31, 2025, the fund has compounded net of fees at 13.2% annualized (688% cumulative) under its pro forma 0% management fee and 20% performance fee structure, outperforming the MSCI All-Country World Index's 11.5% annualized return (514% cumulative).
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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: A concentrated, long-only value fund focused on neglected micro-caps and deep-value contrarian situations. Under a 0% management / 20% performance fee structure, it has outperforme...
Growth Outlook
Market outlook remains moderate conviction: A concentrated, long-only value fund focused on neglected micro-caps and deep-value contrarian situations. Under a 0% management / 20% performance fee structure, it has outperforme...
Risk Appetite
Risk appetite posture is above average conviction: A concentrated, long-only value fund focused on neglected micro-caps and deep-value contrarian situations. Under a 0% management / 20% performance fee structure, it has outperforme...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. A concentrated, long-only value fund focused on neglected micro-caps and deep-value contrarian situations. Under a 0% management / 20% performance fee structure, it has outperforme...
Forward Guidance
Forward guidance signal: A concentrated, long-only value fund focused on neglected micro-caps and deep-value contrarian situations. Under a 0% management / 20% performance fee structure, it has outperforme...
Language Signal
Tone analysis indicates high conviction language: A concentrated, long-only value fund focused on neglected micro-caps and deep-value contrarian situations. Under a 0% management / 20% performance fee structure, it has outperforme...
Perceived Risk
Perceived risk level is evaluated as low conviction. A concentrated, long-only value fund focused on neglected micro-caps and deep-value contrarian situations. Under a 0% management / 20% performance fee structure, it has outperforme...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. A concentrated, long-only value fund focused on neglected micro-caps and deep-value contrarian situations. Under a 0% management / 20% performance fee structure, it has outperforme...
Time Horizon
Investment time horizon reflects a high conviction orientation. A concentrated, long-only value fund focused on neglected micro-caps and deep-value contrarian situations. Under a 0% management / 20% performance fee structure, it has outperforme...
