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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 15, 2025 | Highwood Value Partners | - | 4.2% | ALIG SS, BORR, BUR, FEVR, GETB LN, HFG GR, JZCP LN, MOTR LN, ODET FP, PROT NO, RYA ID, TRI FP | Capital Allocation, Compounding, ROCE, small caps, valuation gaps | The letter highlights long-term compounding through ownership of capital-light, high-ROCE businesses purchased at discounted valuations. Management emphasizes international small- and mid-cap opportunities where mispricing is most persistent. Patience, discipline, and behavioral edge are positioned as core competitive advantages. | BORR HFG BOL BUR LN JZCP LN MOTR LN FEVR LN PROT NO TRI FP |
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| 2025 Q4 | Jan 20, 2026 | Highwood Value Partners | 5.7% | 10.2% | 2333.HK, ALIM-B.ST, BOL.PA, BORR, BUR.L, FEVR.L, GETB.L, JZC.L, MOT.L, ODET.PA, PROT.OL, RYA.L, STDRL.OL, SYY, TAP, TGO.PA, UMG.AS, VIV.PA, VWS.CO | Capital Cycle, Concentration, energy, Europe, Litigation Finance, special situations, value | Manager emphasizes concentrated value investing approach, buying companies at significant discounts to fair value. Portfolio trades at 48 cents on the dollar of estimated intrinsic value with median P/E of 7.5x. Focus on fundamental bottom-up analysis with 5+ year holding periods. Burford Capital represents the largest position as a litigation finance leader. The business generates returns by funding commercial litigation claims and managing third-party capital. YPF case represents major catalyst with clear judgment in favor. Borr Drilling is a special situation in shallow water drilling rigs. The capital cycle investment thesis centers on industry oversupply working through the system, with rig rates recovering from current levels toward long-run averages as old rigs retire. | RYAAY FEVR LN GETB LN BORR NO BUR LN |
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| 2024 Q4 | Jan 15, 2025 | Highwood Value Partners | - | 4.6% | 0RYA LN, ALIG SS, BOL FP, BORR, BUR, FEVR LN, GETB LN, HFG GR, JZCP LN, MOTR LN, PROT NO, WINE LN | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 8, 2026 | Fund Letters | Desmond Kingsford | Borr Drilling | Energy | Oil & Gas Drilling & Exploration | Bull | New York Stock Exchange | Drilling, energy, Jackup, Offshore, Shallow-Water | 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. | ||||||||