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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2023 Q2 | Jul 28, 2023 | Atherean Value Fund, LP | - | - | CNI | - | View | ||
| 2025 Q4 | Jan 12, 2026 | QV Investors Inc. | 0.0% | 0.0% | 005930.KS, 0700.HK, BABA, CAT, CNI, DG, FTT.TO, GOOGL, MU, NVDA, TPZ.TO, UNP | AI, commodities, Dollar, financials, gold, international, Market Concentration, value | AI narrative shifted from Magnificent 7 to hardware providers building data centers. Memory chip providers like Micron and Samsung surged 240% and 120% respectively. Industrial businesses like Caterpillar and Finning benefited from AI-related capital spending for power generation equipment. Gold prices rose 64% as global central banks bolstered reserves and investors sought store of value amid geopolitical concerns and US deficit levels. Precious metals had their best year since 1979, contributing significantly to Canadian market returns. European financials rose 65.7% in 2025 as positive interest rates re-ignited profitability. Canadian bank stocks rose 43.4% as falling rates caused yield curve steepening. Over five years, European financials returned 111.5% versus S&P 500's 82.3%. Manager emphasizes opportunities in defensive areas like healthcare and consumer staples trading at historically low multiples. European cyclicals and smaller cap companies globally trade at low earnings multiples with depressed margins, offering reasonable returns with conservative assumptions. Industrial metals moved to new highs following precious metals surge. Manager sees opportunity in companies that manufacture raw materials into value-added products and pass through cost increases. Commodities rising alongside capital expenditure and fiscal stimulus. | TPZ CN FTT CN DG 005930 KS |
View |
| 2024 Q3 | Sep 30, 2024 | Appalaches Capital | 3.0% | 7.1% | CME, CNI, CPNG, CSX, GOOG, OCI NA, PLX FP | - | View | ||
| 2024 Q4 | Jan 29, 2024 | Stenham Asset Management | -3.3% | 10.3% | CLNX SM, CNI | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Nov 29, 2025 | Fund Letters | Brian Yacktman | Canadian National Railway | Industrials | Railroads | Bull | NYSE | efficiency, Logistics, Margins, Pricing, railroads | View Pitch |
| Nov 27, 2025 | Value Investors Club | JackBlack | Canadian National Railway Co | Industrials | Railroads | — | TSX | Canada-First, Port Arbitrage, Rupert Advantage, TEU Upshift, Annex-I Shock, Rail Pull-Forward, Intermodal Re-Rate, Capacity Catalyst | 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. | ||||||||