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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | Dec 2, 2025 | Atai Capital Management | 10.7% | 43.3% | ALOT, BELFA, BKTI, MSI, TP | concentrated, defense, Microcap, small caps, technology, value | Atai Capital operates a concentrated Micro and Small-Cap strategy with 58% of portfolio consisting of businesses with market caps below $500M. The manager acknowledges this strategy will naturally diverge from market indexes and anticipates periods of both outperformance and underperformance. | View | |
| 2025 Q3 | Oct 28, 2025 | Merion Road Capital | 5.0% | 0.6% | AMWD, BELFA, BELFB, KTOS, MBC, VCTR | arbitrage, Asset Management, defense, Housing, Mergers, small cap, value | Kratos benefited from Defense Secretary Pete Hegseth's announcement to ramp production and fielding of drones. The company beat Q2 earnings and management identified several large wins post quarter end that will boost Q3 bookings and provide increased confidence on 2026-2027 guidance. Additional upside lies in tactical drones currently being discussed by customers. | BELFA AMWD VCTR KTOS BELFA AMWD VCTR KTOS |
View |
| 2025 Q4 | Jan 29, 2026 | Merion Road Capital | 8.5% | 9.2% | ACNT, AMZN, BELFA, BUKS, GOOG, JHG, MSFT | aerospace, AI, arbitrage, Chemicals, Long/Short, small cap, value | Manager maintains 22% AI exposure through GOOG, MSFT, and AMZN, though feels this is large but remains underweight relative to the S&P 500 where Magnificent Seven account for 34%. Acknowledges elevated S&P returns were concentrated among largest AI-exposed companies. Built position in Ascent Industries, a specialty chemicals company transforming from over-levered conglomerate to pure-play with pristine balance sheet. New management from Dow Chemical and turnaround experience addressing poor operations, with facilities at 50% utilization offering significant operating leverage potential. Butler National showed strong performance with EBITDA increasing from $6.5m to $8.8m, with aerospace revenue, margins, and backlog all moving up meaningfully. Company, management, and board continue buying stock despite higher share price. | ACNT BELFB JHG |
View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Greystone Capital | Bel Fuse | Information Technology | Electronic Components | Bull | NASDAQ | cash generation, Electronic Components, Industrial, leverage, manufacturing, Pricing power, technology, Value | View Pitch |
| Nov 29, 2025 | Fund Letters | Aaron Sallen | BEL Fuse Inc. | Information Technology | Electronic Components | Bull | NASDAQ | arbitrage, electronics, Governance, management, merger, restructuring, valuation | View Pitch |
| Nov 29, 2025 | Fund Letters | Aaron Sallen | BEL Fuse Inc. | Information Technology | Electronic Components | Bull | NASDAQ | arbitrage, electronics, Governance, management, merger, restructuring, valuation | 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. | ||||||||