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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | Apr 26, 2024 | Kingdom Capital Advisors | 2.5% | 15.9% | ABL, CRSXF, EVC, GENK, HBI, NLOP, PLCE, RGS, TDW, VNTRF | distressed, Media, real estate, SmallCap, turnaround, value | Manager focuses on vetting ideas most ignore rather than predicting the next big thing. Portfolio includes distressed situations like Children's Place and undervalued assets like Entravision's spectrum holdings. Emphasis on finding mispriced opportunities with significant torque potential. | EVC |
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| 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 | |
| 2025 Q4 | Jan 7, 2026 | Kingdom Capital Advisors | 8.9% | 17.5% | AIV, AKA, CRSXF, HRBR, MAGN, NLOP, NVRI, SUP, TSSI, UNFI, WW | concentrated, Liquidations, Microcap, special situations, Turnarounds, value | Kingdom Capital focuses on overlooked microcap companies trading at significant discounts to intrinsic value. The portfolio includes businesses like UNFI trading below 4x EV/EBITDA and generating substantial free cash flow, demonstrating the manager's value-oriented approach. The fund specializes in microcap investing with a concentrated, research-intensive approach. Despite significant challenges including bankruptcies and customer losses, the strategy delivered strong returns by exploiting inefficiencies in overlooked areas of the market. 2025 tested the fund's thesis severely with a bankruptcy, major customer losses, and cyber-attacks, yet delivered 17.45% net returns. The manager emphasizes that edge comes from exploiting inefficiency rather than avoiding adversity, demonstrating portfolio resilience through active management. | View | |
| 2023 Q4 | May 1, 2024 | Kingdom Capital Advisors | 2.5% | 15.9% | ABL, ABLLW, AMRK, ARCH, CRSXF, HCC, NLOP, PLCE, SCOR, UNTC | Coal, contrarian, energy, real estate, small caps, special situations, value | Manager holds positions in Corsa Coal and previously Arch Resources, rotating into Warrior Met Coal. Coal was both a top contributor (Warrior Met) and detractor (Corsa Coal) during the period. Manager views coal as part of their value-oriented approach to out-of-favor sectors. | NLOP |
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| 2025 Q1 | Apr 14, 2025 | Kingdom Capital Advisors | -7.1% | -7.1% | AKA, CLBR, CRSXF, HCC, IPI, MAGN, NLOP, NVRI, OACC, SUP, UNFI, UNTC, VNTRF | Autos, Coal, Natural Gas, real estate, small caps, tariffs, Trade Policy, value | Q1 was dominated by tariff discussions as Trump's administration demonstrates more follow-through than his first term. The manager analyzes specific impacts on portfolio holdings, particularly auto tariffs affecting Superior Industries, and expects policy adjustments due to consumer cost concerns. | 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 |
|---|---|---|---|---|---|---|---|---|---|
| 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. | ||||||||