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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q4 | Mar 10, 2026 | Atai Capital Management | -5.0% | 36.1% | BELFB, BKTI, EGAM, HAI.TO, KITW.L | Concentration, Microcap, Objectivity, Philosophy, Quality, small caps | The fund operates a concentrated Micro and Small-Cap strategy that naturally diverges from market indexes. Approximately 60% of the portfolio consists of businesses with market caps below $500M, with the top five positions accounting for ~60% of the portfolio. The manager has pivoted the portfolio more towards quality names, a shift first called out in the Q1-2025 letter. This represents an evolution in the investment approach while maintaining the core small-cap focus. | View | |
| 2025 Q3 | Dec 2, 2025 | Atai Capital Management | 10.7% | 43.3% | BKTI | management, Margins, pricingpower, SmallCaps, turnaround | Atai emphasizes the scarcity of attractive small-cap opportunities in the U.S. while highlighting a concentrated portfolio focused on operational turnarounds and management excellence. BK Technologies exemplifies the theme, where product quality, pricing power, and strong leadership drive margin expansion and long-term share gains. Small caps remain compelling where management execution, niche market dominance, and disciplined reinvestment create multiyear compounding potential. | View | |
| 2025 Q3 | Oct 8, 2025 | Liberty Park Capital Management | 1.1% | -1.1% | BKTI, BOOM, LMB, NSSC, WHR, XMTR | AI Bubble, Co-Investments, risk management, small caps, Speculation | Liberty Park warns of speculative excess reminiscent of the dot-com bubble, where unprofitable companies rebrand as AI plays to attract investors. The fund remains long quality cyclicals but hedges against profitless tech hype through selective shorts and options. It also launches SPVs to co-invest in high-conviction opportunities, emphasizing disciplined risk control. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 23, 2026 | Twitter / X | @ToffCap | BK Technologies Corporation | Communications Equipment | Communications Equipment | Bull | NYSE | cash flow, Flow, Free, Free Cash, Motorola, Radios, reliability, Technologies | 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. | ||||||||