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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q4 | Jan 15, 2026 | ROCKLINC Partners Fund | 0.7% | 20.3% | AAPL, ACA, AEM.TO, AMZN, APG, BIP.TO, BN.TO, BUR.L, CCO.TO, CSL, DHR, FNV.TO, GROY, KNSL, KPG.AX, MELI, MKL, NOW, OR.V, PLD, RGLD, ROP, RPRX, SII.TO, TSU.TO, WPM.TO | active management, Canada, ETFs, gold, Precious Metals, Silver, uranium, value | Gold delivered one of its strongest annual performances in decades during 2025, with a 64.5% gain to $4,318 per ounce. The acceleration in Q4 underscores persistent safe-haven demand amid geopolitical tensions, central bank buying, inflation hedging, massive global debts and a favorable macro backdrop with lower real yields on fixed income securities. Silver far outpaced even gold with explosive momentum in the final quarter, delivering a colossal 147.5% gain for the year to $71.54 per ounce. This reflects gold's safe-haven spillover plus strong industrial demand from solar, electronics, EVs, and AI-related applications, chronic supply deficits, and early cycle speculative fervour. The firm's significant allocation to precious metals royalty companies was the primary driver of outperformance in 2025. Precious metals staged historic rallies as hard assets and inflation hedges dominated, providing a powerful tailwind to resource-heavy Canadian indices amid broader global uncertainty. The new Rocklinc Principled Equity Fund focuses on undervalued securities through a concentrated portfolio of 20 or fewer holdings, enabling conviction-driven investments based on deep fundamental analysis. The firm deliberately steers clear of overvalued securities trading at extreme multiples and resists purely speculative investments. Canada leads globally in active ETF adoption, with about 30% of total ETF assets under management being actively managed, compared to just 8% in the US. The firm launched the Rocklinc Principled Equity Fund ETF to tap into this booming market where investor demand and competition among providers are driving rapid growth. Sprott has successfully positioned itself at the center of the modern energy transition through its dominance in the uranium sector. The Sprott Physical Uranium Trust is now the largest holder of physical uranium in the world, effectively becoming the institutional gateway for nuclear energy exposure. | SII |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jun 23, 2026 | Seeking Alpha | Seeking Alpha | Arcosa, Inc. | Construction Materials | Aggregates | Bull | New York Stock Exchange | acquisition, aggregates, Arcosa, buyout, construction materials, CRH, growth, infrastructure, North America, synergies | View Pitch |
| Apr 28, 2026 | Fund Letters | Sohra Peak Capital Partners | American Coastal Insurance Corporation | Financials | Property & Casualty Insurance | Bull | NASDAQ | Casualty Insurance, Coastal Exposure, Equity, Hard Market, premium pricing, Property Insurance | View Pitch |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Steven A. Cohen | Point72 Asset Management | $86.8B | $4.1M | 0.00% | 38,635 | +33,826 | +703.39% | 0.0683% |
| Ray Dalio | Bridgewater Associates | $27.4B | $2.4M | 0.01% | 22,964 | +22,964 | +100.00% | 0.0406% |
| Israel Englander | Millennium Management LLC | $233.2B | $5.5M | 0.00% | 51,518 | +23,527 | +84.05% | 0.0910% |
| Jeremy Grantham | GMO LLC | $39.1B | $4.3M | 0.01% | 40,298 | +40,298 | +100.00% | 0.0712% |
| Cliff Asness | AQR Capital Management | $190.6B | $1.5M | 0.00% | 14,051 | +2,868 | +25.65% | 0.0248% |
| Mario Gabelli | GAMCO Investors | $10.4B | $19.6M | 0.19% | 184,721 | +1,483 | +0.81% | 0.3264% |