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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Sep 30, 2025 | Crossroads Capital | 36.9% | - | ASTS, NTDOY | Balance Sheets, free cash flow, mispricing, small caps, value | The letter discusses inefficiencies in small and mid-cap markets where fear-driven selling has disconnected prices from fundamentals. Management views balance sheet strength and free cash flow durability as critical in identifying undervalued opportunities. The outlook favors patient ownership as normalization restores intrinsic value. | View | |
| 2025 Q2 | Aug 7, 2025 | Greenhaven Road Capital | 14.0% | 1.0% | ASTS, BUR, CLBT, KKR, LFCR, PAR, SOC | Capital Allocation, Compounding, growth, long-term, quality businesses | The commentary centers on long-term compounding driven by owning exceptional businesses with reinvestment opportunities. Management emphasizes capital allocation discipline, founder-led cultures, and structural growth tailwinds. Short-term volatility is viewed as irrelevant relative to the power of sustained earnings growth. | ASTS PAR KKR CLBT LFCR BUR SOC |
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| 2025 Q4 | Feb 26, 2026 | Crossroads Capital | 2.7% | 37.7% | ASTS, CLMT, FTAI, META, MSFT, NBIS, NTDOY, NVDA, ORCL, PLTR | aerospace, AI, gaming, growth, small cap, Space, technology, value | Nintendo continues to demonstrate exceptional performance with Switch 2 becoming the fastest-selling console in history, selling 17.4 million units in just 7 months. The company has a historically rich first-party software pipeline and is building new recurring revenue streams through Nintendo Switch Online and its expanding cinematic universe. AST SpaceMobile has transitioned from R&D startup to scaleup, successfully deploying the largest commercial communications antenna in low-Earth orbit with BlueBird 6. The company has secured over $1 billion in pre-funded revenue commitments and won a prime position on America's Golden Dome missile defense architecture. Nebius Group operates as an AI-first cloud platform with major hyperscaler contracts including $17.4 billion with Microsoft and $3 billion with Meta. The company is building substantial AI infrastructure capacity with 2.5 GW of contracted power by end-2026. FTAI Aviation is transforming into a capital-light MRO franchise for CFM56 engines through its Strategic Capital Initiative, creating 'green time' by manufacturing proprietary PMA parts. The company is also expanding into data center power generation by repurposing jet engines into aeroderivative gas turbines. | FTAI NBIS ASTS NTDOY |
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| 2025 Q4 | Dec 31, 2025 | Creek Drive Capital Management LP | 0.0% | 73.9% | ASTS, CORZ, GME, GOOGL, IBIT, MSTR, SPHE | arbitrage, Biotechnology, Concentration, gaming, Long/Short, rebalancing, Space, volatility | The arbitrage and opportunistic book contributed approximately one-third of total gross returns, with activity spread across single-name catalyst shorts, merger arbitrage, and volatility positions. Notable contributors included Core Scientific/CoreWeave merger arbitrage adding +550 basis points and a long-volatility position in Alphabet contributing +630 basis points. Several biotechnology positions were added to the long book during the year. The sector remains structurally undercapitalized, leading to persistent underpricing of positive scientific outcomes relative to long-term net present value, even when individual stocks reprice sharply following data releases. AST SpaceMobile has rerated materially over the past year despite relatively limited changes to the underlying business. Progress has largely taken the form of execution against previously stated milestones, advancing the regulatory framework and continuing to move the technology toward operational readiness. GameStop's operational turnaround has been notable, transitioning from a structurally challenged model to one that is meaningfully more stable. The company is constructive on collectibles initiatives, including development of new digital collectible products, viewed as an underappreciated contributor to future economics. | GME ASTS SPHR |
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| 2025 Q4 | Jan 30, 2026 | Flattery Wealth Management | 0.0% | 0.0% | ASTS, CASY, CEF, CPRT, DE, GRMN, HEI, MSTR, RACE, RMS, SEB | AI, Bitcoin, contrarian, crypto, gold, Multi-baggers, Quality, Space | Bitcoin functions as scarce, portable, digital gold gaining institutional traction as a hedge against currency debasement. MicroStrategy operates as the leader in pioneering corporate bitcoin strategy with the largest corporate bitcoin stash. The manager views bitcoin's institutional narrative advancing through maturing spot ETFs and growing corporate interest. AI represents a gunpowder moment that is flattening the playing field, allowing solo entrepreneurs to compete with enterprises and small businesses to compete with larger ones. The manager notes institutional investors have zero interest in non-AI deals currently. However, AI may also make people dumber and risks losing habits of attention and deep learning. AST SpaceMobile represents a bet on eliminating cellular dead zones through space-based broadband to unmodified smartphones. The company has partnerships with major carriers and is building what could become a massive subscription business. The space economy narrative is gaining attention with potential SpaceX IPO catalysts. Gold surged 65% in 2025, its best year since 1979, while most people forgot about it. Sprott Physical Gold and Silver Trust provides exposure to physical metals without counterparty risk or financial engineering. The position serves as insurance when fiat currencies inflate over long time horizons. | CEF HEI ASTS MSTR |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2026 | Fund Letters | Ryan O'Connor | AST SpaceMobile, Inc. | Communication Services | Alternative Carriers | Bull | NASDAQ | Commercial Agreements, Convertible Financing, defense contracts, Launch Cadence, LEO Constellation, Manufacturing Scale, Spectrum Allocation | View Pitch |
| Feb 4, 2026 | Twitter / X | @DrOllie1979 | AST SpaceMobile, Inc. | Wireless Telecommunication Services | Wireless Telecommunication Services | Bull | NASDAQ | Defense, DirectToDevice, Government, Launches, LEAPS, Regulation, Satellites, Shortinterest, Spectrum, Wireless | View Pitch |
| Feb 4, 2026 | Twitter / X | @keyesmn | AST SpaceMobile, Inc. | Communications Equipment | Satellite & Telecommunication Equipment | Bull | NASDAQ | CommandAndControl, DefenseCommunications, ElectronicWarfare, LEO, MissileDefense, PhasedArrays, PNT, Rf, Satellites, SpaceSensing | View Pitch |
| Feb 4, 2026 | Twitter / X | @keyesmn | AST SpaceMobile, Inc. | - | Bull | NASDAQ | Bundling, Churn, Constellation, Coverage, Roaming, Satellites, Subscribers, Telecom | View Pitch | |
| Feb 4, 2026 | Fund Letters | Andrew Flattery | AST SpaceMobile, Inc. | Communication Services | Wireless Telecommunications | Bull | NASDAQ | infrastructure, Optionality, Satellites, Space, Telecom | View Pitch |
| Feb 4, 2026 | Twitter / X | @guo_lin99725 | AST SpaceMobile, Inc. | Wireless Telecommunication Services | Wireless Telecommunication Services | Bull | NASDAQ | Asic, AT&T, broadband, Direct To Cell, patents, Satellites, Spectrum, Starship, telecommunications, Verizon | View Pitch |
| Feb 4, 2026 | Twitter / X | @TheValueist | AST SpaceMobile | Wireless Telecommunication Services | Wireless Telecommunication Services | Neutral | NASDAQ | antennas, broadband, Connectivity, Dilution, Launches, Satellites, Smartphones, Spectrum, Starlink, Telecom, Verizon, Vodafone | View Pitch |
| Jan 27, 2026 | Fund Letters | Mike He | AST SpaceMobile, Inc. | Communication Services | Wireless Telecommunication Services | Bull | NASDAQ | Connectivity, Execution, Optionality, Satellites, Volatility | View Pitch |
| Jan 22, 2026 | Twitter / X | @KevinLMak | AST SpaceMobile, Inc. | Communication Services | Alternative Carriers | Neutral | NASDAQ | Asts, debt, Debt Holders, Holders, Interest, Satellite, Shares, Slightly | View Pitch |
| Jan 11, 2026 | Seeking Alpha | Seeking Alpha | AST SpaceMobile Inc. | Telecommunications | Satellite Communications | Bull | NASDAQ Stock Market | AST Spacemobile, Broadband internet, cash position, Global connectivity, innovation, Low-Earth-orbit, Satellite communications, Satellite launches, Telecom partnerships, Volatility | View Pitch |
| Jan 8, 2026 | Fund Letters | Ryan O'Connor | AST SpaceMobile Inc. | Communication Services | Alternative Carriers | Bull | NASDAQ | Asymmetry, Coverage, growth, Satellites, Telecom | View Pitch |
| Dec 6, 2025 | Fund Letters | Scott Miller | AST SpaceMobile, Inc. | Information Technology | Communication Equipment | Bull | NASDAQ | broadband, Connectivity, Partnerships, Satellites, Telecom | View Pitch |
| Aug 8, 2025 | Seeking Alpha | First Principles Partners | AST SpaceMobile, Inc. | Information Technology | Communication Equipment | Bull | NASDAQ | — | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Davenport Asset Management | AST SpaceMobile Inc. | Information Technology | Communication Equipment | Bull | NASDAQ | — | 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 |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||