“Acadia has been our largest contributor to our 2026 performance thus far, and at today's prices, we have been trimming the position. We are highly attracted to special situations where a proven, high-”
“ACHC is the leading pure-play behavioral healthcare clinic operator in the U.S. After peaking near $90 in 2022, the stock came under heavy pressure in late 2024 following a New York Times investigatio”
Each excerpt above is the manager's commentary on this ticker specifically. The full letter has the rest of their portfolio thinking, risk discussion, and broader institutional context.