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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2023 Q2 | Jun 7, 2023 | Palm Valley Capital Management | -0.1% | 4.2% | AAP, CRD-A, CRD-B, LAS.TO, NGS, ODC, PSLV, SSRM, TBI, WHGLY | AI, Banking, Buybacks, credit, Recession, small cap, value | Manager views AI as potentially transformative but warns against investing in the current hype cycle. Compares AI boom to past bubbles like Cisco during the internet explosion, noting that revolutionary technology doesn't guarantee profitable investments. Believes progress will come in small steps rather than giant leaps. | LAS.TO BHARATBIJ.NS AAP |
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| 2023 Q3 | May 10, 2023 | Palm Valley Capital Management | -0.1% | 4.2% | AAP, AVA, CRD-A, CRD-B, EQC, FPI, LAS-A.TO, MLR, SSRM, TBI | Banking, Cash, credit, interest rates, real estate, small caps, valuation | Higher interest rates are like water that freezes in an overleveraged economy and splits it apart. The 10-year Treasury yield has risen to 4.6% from below 2.0% in 2019, yet equity valuations remain elevated with the S&P 500 trading at 21x P/E. The fund sees rates as a major structural headwind that will eventually force valuation adjustments. | SSRM EQC FPI ARGX BB|DAVA|DDOG|GLOB|ILMN|LOAR|MELI|NET|NU|NVDA|TSM BHARATBIJ.NS AAP CRD.A LAS/A CN|MLR|MNRO|NGS|WHGLY|WLY LAS.TO |
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| 2023 Q4 | Jan 7, 2024 | Palm Valley Capital Management | -0.1% | 4.2% | AAP, AVA, CRD-A, CRD-B, CRI, DOX, KELYA, LAS.TO, MLR, MNRO, NGS, TRUE, WHGLY, WLY | Fed policy, Inequality, inflation, liquidity, small caps, value | Small caps experienced significant volatility in 2023, with a 26% surge from October lows driven by Fed pivot expectations. However, 40% of Russell 2000 constituents remain unprofitable, and median net income has stagnated for 25 years. Quality deterioration and speculative business models persist despite recent outperformance. | LAS/A CN|MLR|MNRO|NGS|WHGLY|WLY LAS/A CN|MLR|MNRO|NGS|WHGLY|WLY |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| 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. | ||||||||