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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q4 | Feb 11, 2025 | Torghatten Capital | - | - | CSU CN, EVO SS, V | Assets, Balance Sheets, catalysts, mispricing, value | The letter emphasizes disciplined value investing in small and mid-cap companies facing temporary dislocations rather than permanent impairment. Portfolio construction focuses on balance sheet strength, asset backing, and clear catalysts that can unlock intrinsic value over time. Value opportunities are framed as emerging from complexity, neglect, and forced selling rather than macro forecasts. | EVO SS CSU CN V |
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| 2023 Q4 | Dec 31, 2023 | Zelikovic Investments / Tavor Capital | - | - | CSU CN, EXO NA, IAC, KKR, TASE IT, TPL, TVER | - | View | ||
| 2022 Q4 | Dec 1, 2023 | Concentrated Compounding | 0.0% | 0.0% | AMZN, BRK/A, CHTR, CSU CN, EPD, FRC, GOOG, MA, RADI, TDG, V | - | View | ||
| 2023 Q3 | Nov 10, 2023 | Right Tail Capital | 0.0% | 10.3% | CSU CN, FERG | - | View | ||
| 2025 Q3 | Oct 6, 2025 | Giverny Capital Asset Management | 6.8% | 12.6% | CSU CN, KMX, MEDP, TSM | Artificial Intelligence, Founder-led, Medtech, quality growth, semiconductors | Giverny Capital attributes underperformance to Constellation Softwares CEO transition but remains confident in founder-led, high-quality businesses. The letter highlights Medpace and Taiwan Semiconductor as new or growing positions benefiting from innovation and disciplined management. It expresses concern over AI exuberance, likening Nvidias valuation surge to prior bubbles while holding a measured, long-term view on durable tech exposure. | NVDA US MEDP US |
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| 2023 Q3 | Oct 31, 2023 | MCJ Capital Partners | 10.6% | 11.7% | CSU CN, JDG LN, KSI CN, KUT CN | - | View | ||
| 2025 Q3 | Oct 20, 2025 | Touchstone Sands Capital International Growth Equity Fund | -3.1% | 15.7% | 6098 JP, ADYEN NA, ARGX, CSU CN, EVD GR, GALD SW, HEX NO, III LN, MELI, NU, PDRB, SE, SHOP, SIKASW, TSM | Artificial Intelligence, E-Commerce, financials, Global Growth, healthcare | International holdings in Asia and Europe saw mixed results, but structural themes in e-commerce and financial innovation continued to drive growth. The funds core exposures include Shopify, MercadoLibre, and Taiwan Semiconductor as AI-related demand spreads globally. Healthcare names like Argenx and Galderma support steady earnings through innovation and margin expansion. | View | |
| 2025 Q3 | Oct 10, 2025 | Ennismore Global Equity Fund | 0.9% | 8.4% | CRDA LN, CSU CN, GRGD CN, WISE LN | commodities, cyclicals, Mean reversion, Shorting, valuation | Ennismore stresses that elevated equity valuations and crowded long positions create asymmetric short opportunities. The fund focuses on companies over-earning due to temporary commodity tailwinds and identifies potential mean-reversion setups across cyclicals. | WISE LN |
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| 2022 Q3 | Oct 10, 2022 | Right Tail Capital | 0.0% | 10.3% | CSU CN | - | View | ||
| 2023 Q4 | Sep 3, 2024 | Concentrated Compounding | 0.0% | 0.0% | AMZN, BRK/A, CHTR, CSU CN, FRCB, GOOG, TDG | - | View | ||
| 2022 Q4 | Aug 2, 2023 | Sequoia Strategy | 7.1% | 20.8% | BATRA, CACC, CSU CN, ELV, ERF FP, GOOG, ICE, SCHW, UMG, UNH | - | View | ||
| 2023 Q2 | Jul 31, 2023 | MCJ Capital Partners | 10.6% | 11.7% | 0R4P LN, CPRT, CSU CN | - | View | ||
| 2022 Q1 | Apr 29, 2022 | Andvari Associates | 0.0% | 20.3% | CSU CN, TOI CN, TYL | - | View | ||
| 2025 Q1 | Apr 16, 2025 | DKAM Donville Kent Asset Management | - | - | CPH CN, CSU CN, E CN, FORA, GAMB, GSY CN, MDA CN, PRL CN, VHI CN, ZDC CN | - | View | ||
| 2023 Q4 | Jan 31, 2024 | Sequoia Strategy | 7.1% | 20.8% | 0UMG LN, AHT LN, BAC, CSU CN, ERF FP, GOOG, ICE, KMX, LBRDA, LSXMA, META, NFLX, RR/ LN, SAP, SCHW, UNH | - | View | ||
| 2023 Q4 | Jan 29, 2024 | DKAM Donville Kent Asset Management | 0.0% | 68.1% | CSU CN, DE CN, GSY CN, KUT CN, NVEI CN, PAY CN, PRL CN, SECU CN, VHI CN | - | View | ||
| 2023 Q4 | Jan 20, 2024 | Andvari Associates | 0.0% | 20.3% | CSU CN, MLAB | - | View | ||
| 2023 Q1 | Jan 5, 2023 | DKAM Donville Kent Asset Management | 0.0% | 68.1% | CSU CN, CTS CN, GSY CN, KUT CN, NVEI CN, RET CN, VHI CN | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 30, 2026 | Fund Letters | Daniel Bellehsen | Constellation Software Inc. | Information Technology | Application Software | Bull | New York Stock Exchange | Acquisitions, compounding, Decentralization, Free Cash Flow, vertical software | View Pitch |
| Jan 27, 2026 | Fund Letters | Oddbjørn Dybvad | Constellation Software Inc. | Information Technology | Application Software | Bull | New York Stock Exchange | Automation, Integration, Missioncritical, Pricingpower, Recurringrevenue, Regulation, Switchingcosts, Verticalsoftware | View Pitch |
| Jan 8, 2026 | Fund Letters | Arne Ulland | Constellation Software Inc. | Information Technology | Application Software | Bull | New York Stock Exchange | Acquisitions, Capitalallocation, Decentralization, Incentives, Software | View Pitch |
| Nov 29, 2025 | Fund Letters | John Neff | Constellation Software Inc. | Information Technology | Application Software | Bull | TSX | AI, compounding, growth, leadership, M&A, resilience, Software, valuation, Verticals | 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. | ||||||||