Join for free and get access to the buyside
Get insights from the world's most influential hedge fund investors direct to your inbox
- © 2025 Buyside Digest
- Privacy Policy
- Disclaimer
- Sitemap
- Terms of Service
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q4 | Dec 31, 2025 | Quercus Fund | 0.0% | 24.5% | 0142.HK, 1208.HK, 3301.HK, HLYB.L | Banking, China, Conglomerates, Petrochemicals, small caps, value | Fund focuses on buying assets at extremely low prices versus their value, targeting price-to-value ratios below 0.3x with look-through P/E of approximately 3.5x. The approach emphasizes finding mispriced securities in unconventional places including complex structures, small caps, low free float, overlooked geographies, spin-offs, and distressed industries. Portfolio concentrates on small capitalization companies that institutions would not touch but retail cannot access. The fund specifically targets companies in unconventional places with little institutional following, leveraging the manager's ability to access securities that have structural barriers to broader ownership. Significant exposure to Chinese companies including Tianjin Development Holdings and China Sanjiang Fine Chemicals. The fund sees opportunities in Chinese markets where complex structures and regulatory environments create pricing inefficiencies that can be exploited by patient capital. Major position in China Sanjiang Fine Chemicals, which is expanding ethylene capacity and shifting feedstock from methanol to naphtha and eventually ethane. The company is positioned to benefit from improved margins as it moves down the cost curve with more efficient feedstock utilization. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||