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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jun 30, 2025 | Clark Street Value | - | -3.6% | ACR, ATHA, CKX, CMCT, CRGX, EHAB, EPIX, GRBK, HLVX, HMST, IGT, IKNA, IOR, ME, MREO, MURA, NSTS, PARR, RPTX, SEG, SHCO, THRD | Banking, Biotechnology, REITs, small caps, special situations, value | Manager holds extensive broken biotech basket including companies that have halted development and are pursuing strategic alternatives or liquidations. These biotechs trade at significant discounts to net cash with potential for Tang-style buyouts or liquidations. | IGT EHAB SHCO NSTS IOR CKX THRD RPTX MURA EPIX ATHA |
View |
| 2024 Q4 | Dec 31, 2024 | Clark Street Value | - | -6.4% | ACR, ALVR, ATHA, AVTE, CKX, CMCT, EHAB, ENZ, EPIX, GRBK, HHH, HLVX, HMST, IKNA, INBX, LMNR, MREO, PARR, SEG | Biotechnology, Liquidations, M&A, real estate, special situations, spinoffs, value | Multiple SPAC-related investments including reverse merger situations where biotech companies are merging with private entities. These transactions often include special dividends, CVRs, and oversubscribed PIPEs that can create value for existing shareholders. | View | |
| 2023 Q4 | Dec 29, 2023 | Clark Street Value | - | 38.5% | ACI, AVRO, BANC, CKX, CYT, ELYM, ESPR, FHN, FIXX, GRPH, HMST, KNTE, MBI, MRC, MREO, PIRS, RPHM, SAVE, SIOX, THRX | Biotechnology, M&A, real estate, Regional Banks, small caps, special situations, value | Manager holds a substantial broken biotech basket focused on companies undergoing strategic alternatives including reverse mergers, liquidations, and takeover offers. Multiple biotech positions are trading below net cash with potential value from IP assets and CVRs. | View | |
| 2023 Q3 | Oct 14, 2023 | Pernas Research | 18.0% | 17.8% | ABL, CKX, CRSXF, HCC, PLCE, SENEA, SUP, UNTC | Coal, Concentration, Outperformance, small caps, value | Q3 returns strongly benefited from coal positions as seasonal weakness in metallurgical coal prices ended in August with indexes rising over 30% in a month. Demand for the key steelmaking component continues to increase while no significant supply response has occurred due to new mining equipment and labor shortages. | View | |
| 2023 Q3 | Apr 10, 2023 | Kingdom Capital Advisors | 2.5% | 15.9% | ABL, CKX, CRSXF, HCC, PLCE, SENEA, SUP, UNTC | Coal, Concentration, Patience, small caps, undervaluation, value | Q3 returns strongly benefited from coal positions as seasonal weakness in metallurgical coal prices ended in August with indexes rising over 30% in a month. Demand for the key steelmaking component continues to increase while no significant supply response has occurred. With new mining equipment and labor in short supply, positions are poised to earn significant returns even if prices drop back to August lows. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Dec 5, 2025 | Fund Letters | Pearu Põld | CKX Lands, Inc. | Energy | Real Estate Management & Development | Bull | NYSE | land, Louisiana, microcap, Real Estate, Strategic | 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. | ||||||||