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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q3 | Sep 30, 2024 | JDP Capital | 12.4% | 33.9% | 0700.HK, 2318.HK, AMZN, BABA, CYBR, CZR, FLUT.L, PARA, SPOT, TSLA | Buybacks, China, gaming, rates, small caps, Stimulus, technology | Chinese equities rallied on major government stimulus package. Portfolio holds Tencent, Alibaba, and Ping An Insurance at single-digit multiples with enormous cash positions and buyback programs. Position now over 15% of assets after recent rally. | CZR 2318.HK BABA 0700.HK |
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| 2025 Q2 | Jul 31, 2025 | JDP Capital | 19.2% | 16.8% | 300750.SZ, AAPL, AMZN, BABA, CZR, META, SPOT, TSLA | AI, Battery, China, Electric Vehicles, Energy Transition, Streaming, technology | AI inference allows Caesar's gaming apps to analyze player behavior instantly, adjusting interfaces and difficulty levels. AI models can infer player risk appetite and mood based on session-level signals for personalized experiences. AI will someday disrupt or eliminate entire corporate divisions supported by mission critical software. | 300750.SZ BABA SPOT 300750 CH BABA SPOT |
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| 2025 Q2 | Jul 17, 2025 | Contrarius Global Equity Fund | 19.2% | 10.7% | AAPL, AMD, AMZN, CZR, GM, GOOGL, INTC, KER.PA, META, MSFT, NVDA, ORCL, PARA, TM, TSLA, UHR.PA, WBD | AI, contrarian, Electric Vehicles, semiconductors, technology, value | AI adoption is accelerating with cloud hyperscalers investing over $217 billion in AI infrastructure in 2024. The next frontier of real-world AI including agentic AI, autonomous vehicles, and humanoid robotics promises even greater disruption. Chain-of-Thought reasoning represents a breakthrough in AI's ability to perform complex multi-step reasoning tasks, significantly increasing inference computational demands. | NVDA NVDA |
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| 2024 Q2 | Jul 17, 2024 | EdgePoint Global | - | - | AAL, ACQ.TO, BBWI, CC, CNK, CWK, CZR, DISH, FDC, FTR, HCA, MTL.TO, O-I, OR.TO, PHII, PRM, PSD.TO, SMG, TEVA, WDC | active management, Benchmarks, credit, fixed income, portfolio construction, risk management | Manager argues that using indexes as benchmarks creates perverse incentives similar to Goodhart's Law, where the measure becomes the target and ceases to be a good measure. Fixed income indexes weight companies by debt issuance size, meaning the most indebted companies get the largest weights, which is counterintuitive for credit investing. | View | |
| 2025 Q2 | Jun 30, 2025 | The Gabelli ABC Fund | 2.1% | - | AAPL, AMZN, BATRA, CHWY, CZR, FOX, GOOGL, IDXX, IVG.MI, META, MSFT, MSGS, NFLX, NVDA, SBGI, TDS, TGNA, TSLA, WBD, ZTS | AI, defense, Mergers & Acquisitions, private market value, Sports, tariffs, Utilities, Value Investing | Major AI infrastructure platforms remained committed to aggressive investment with the five largest global data center operators communicating 2025 capex plans aggregating to ~$330bn. Adoption of generative AI services has inflected sharply with ChatGPT's Weekly Active Users doubling since the start of the year and Alphabet's Gemini reporting 50x year-over-year growth in tokens generated. | SWTX |
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| 2025 Q2 | Jun 30, 2025 | The Gabelli Dividend Growth Fund | 6.3% | - | AMETEK, AMZN, AXP, BATRA, BK, BRK.A, CAT, CHWY, CNH, CR, CVS, CZR, DEERE, DTE.DE, ELAN, FOX, FRPT, IDXX, IVG.DE, MA, MFI.TO, MLI, MSFT, MSGS, NEM, NESN.SW, NFG, NFLX, NVDA, PETCO, RR.L, RSG, SBGI, SONY, TDS, TGNA, TMUS, TRATON.DE, TRUP, WBD, ZTS | AI, defense, gold, M&A, Pet Care, Sports, tariffs, Utilities | The Trump administration implemented sweeping tariffs on April 2nd (Liberation Day), creating significant market volatility. While initial tariff rates were very high, bilateral trade deals with the UK, China, Vietnam, and India reduced effective rates. The administration appears intent on rolling back globalization, with tariffs serving as both negotiation tactics and policy tools. | WCC KR |
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| 2026 Q1 | May 6, 2026 | Icahn Enterprises L.P. | -8.2% | -8.2% | AEP, CTRI, CVI, CZR, IFF, SATS, UAN | Automotive, energy, Fertilizers, Investment, real estate, Refining, Utilities | View | ||
| 2024 Q1 | May 16, 2024 | 1 Main Capital | 4.0% | 11.3% | BFIT, CZR, DNTL.TO, ENZ, IWG.L, LMB | Concentration, FCF, gaming, small caps, underperformance, value | Manager discusses extreme underperformance of small caps versus large caps over the last 5 years, noting this is one of the most extreme cycles in history dating back to 1926. Small cap underperformance driven by differences in earnings growth and multiple compression, with unprofitable companies dragging down overall index performance. Manager believes this creates attractive opportunities in small and mid-cap space. | CZR |
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| 2025 Q1 | Apr 30, 2025 | 1 Main Capital | -3.6% | -3.6% | ARVN, BFIT.AS, CZR, DNTL.TO, ENZ, IWG.L, NVS, PFE, THRD, WATR.L | Biotechnology, Cash, Defensive, small cap, Trade Policy, value, volatility | The Fund made several new biotech investments in Q1, representing a low double-digit percentage of assets. Manager is focusing on simple assets like cash and shareholder incentives rather than deep science understanding. Examples include Arvinas with over $1 billion in cash and significant licensing agreements, and Third Harmonic Bio which announced dissolution and cash return to shareholders. | ENZ THRD ARVN |
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| 2026 Q1 | Apr 22, 2026 | Baron Real Estate Fund | -5.5% | -5.5% | ABNB, BN, BX, CBRE, CSGP, CZR, DLR, EQIX, JLL, PSA, SITE, TOL, WELL, WYNN | AI, Commercial real estate, Data centers, Homebuilders, real estate, REITs, Travel, valuation | View | ||
| 2026 Q1 | Apr 13, 2026 | JDP Capital | -15.1% | -15.1% | AMZN, CZR, MELI | AI, E-Commerce, Fintech, growth, Latin America, value | MELI CZR |
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| 2025 Q1 | Mar 31, 2025 | AMG Frontier Small Cap Growth | -14.4% | -14.4% | AMTM, BECN, BILL, CACI, CG, CZR, DLB, DOCN, EPRT, FTAI, INDI, LTH, MAT, MDB, PGY, TXG, UCTT, UTHR | AI, Cloud, defense, healthcare, semiconductors, small caps, technology, Trade Policy | Technology was the largest detracting industry with underperformance from indie Semiconductor and Ultra Clean Holdings. indie faced weakness in China and tariff uncertainty affecting auto build rates globally, while Ultra Clean experienced product qualification delays at a Chinese customer and weakening semiconductor equipment demand in China. | View | |
| 2024 Q3 | Oct 29, 2024 | Buckley Capital | 4.8% | 0.5% | CC, CZR, IWG.L | Chemicals, Fed Cuts, gaming, real estate, small caps, value | Manager emphasizes small caps are in the 11th percentile of historical relative value differentials versus large caps, one of the lowest valuation environments in 45 years. Fed rate cuts historically benefit small caps significantly, with several outperformance cycles starting with rate cuts. | IWG.L CZR CC |
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| 2024 Q3 | Oct 25, 2024 | 1 Main Capital | 4.0% | 11.3% | AAPL, BFIT, CZR, DNTL.TO, IWG.L, LMB, PRKR, QCOM | Concentration, Fed policy, Litigation, rates, small caps, value | Small cap valuations had become unusually cheap relative to their large cap counterparts. Small cap earnings are more sensitive than large caps to economic growth and interest rates. The RTY rally began early in the quarter when inflation data came in below expectations, spurring optimism that the Fed would begin to cut interest rates. | PRKR |
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| 2024 Q3 | Oct 24, 2024 | Choice Equities Capital Management | -1.8% | 5.5% | CROX, CZR, GENI, HAIN, MGNI, OEC, PAR | Advertising, gaming, Restaurants, small caps, technology, value | The fund holds positions in Caesars Entertainment and Genius Sports, both operating in the entertainment, casino and gaming space. Caesars benefits from secular tailwinds in online sports betting and iGaming, while Genius has exclusive data rights deals with major leagues including the NFL and English Premier League. | HAIN GENI CZR |
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| 2025 Q3 | Oct 23, 2025 | JDP Capital | 12.8% | 31.8% | 0700.HK, BABA, CZR, LYV, META, NFLX, NOW, NVDA, SPOT, T, TSLA, V | AI, China, Electric Vehicles, growth, Long/Short, Sentiment, technology, value | The exponential part of the growth curve in AI adoption is still in front of us. Token costs have fallen 90% while usage increased 3,800% in 2025. The falling costs of compute and inference are unlocking possibilities for smaller companies to compete in areas once reserved for largest incumbents. | CZR TCEHY BABA 300750 CH SPOT |
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| 2024 Q2 | Jul 27, 2024 | 1 Main Capital | 4.0% | 11.3% | BFIT, BNED, CZR, DNTL.TO, FUN, IWG.L, LMB | Concentration, Education, Opportunistic, Recapitalization, small caps, value | Manager believes small caps provide highly attractive long-term investment opportunities due to fatigue from multi-decade underperformance and increased volatility during economic uncertainty. The Fund's performance was driven by just four small cap stocks representing under one-third of the portfolio. | BNED |
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| 2024 Q2 | Jul 25, 2024 | East72 Dynasty Trust | 6.3% | 0.0% | AAPL, AVOL.SW, BVB.DE, CCP.L, CZR, DKNG, ENT.L, FLTR.L, FWONK, GENI, JUVE, MANU, MGM, MSFT, PENN, SCHL, SRAD, TKO, TSLA, WLY | discount, Europe, Holding Companies, Media Rights, Sports Analytics, technology, Travel Retail, value | The fund maintains significant exposure to European holding companies, particularly the Bolloré galaxy of companies including Compagnie de L'Odet, Bolloré, Vivendi, and Lagardère. These companies trade at substantial discounts to NAV despite strong underlying assets like Universal Music Group and cash holdings. | CAT.AX MMB.PA VIV.PA BOL.PA CDI.PA |
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| 2025 Q1 | Apr 22, 2025 | JDP Capital | -2.0% | -2.0% | CZR, ENDI, RDFN, RKT, SPOT | China, gaming, Streaming, tariffs, Trade Policy, value, volatility | The manager extensively discusses the 2025 Tariff Tank and its impact on markets, analyzing both bear and bull cases for MAGA trade policies. He views tariff uncertainty as creating extreme volatility but believes the ultimate outcome will be somewhere between extremes and not as disruptive as either side predicts. | RDFN SPOT CZR ENDI |
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| 2024 Q4 | Feb 14, 2025 | 1 Main Capital | -2.8% | 8.2% | BFIT, CZR, DNTL.TO, IWG.L, WATR.L | Concentration, Flexible Office, market breadth, Passive investing, small caps, value | IWG is the global leader in flexible office space with $4 billion of system sales across 4k+ locations. The company is transitioning to a managed workspace model where landlords fund buildouts while IWG collects recurring management fees. The managed and franchised segment is expected to grow from 15% to nearly half of system sales by decade end. | SUP.TO IWG.L |
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| 2024 Q4 | Jan 28, 2025 | JDP Capital | 10.4% | 47.9% | AAPL, AMZN, CZR, META, NFLX, ROKU, SPOT, TSLA | China, Electric Vehicles, gaming, growth, Streaming, technology, value | Spotify benefits from ever-lower barriers to produce consumer content, the rapid shift away from all forms of linear media consumption, and behavioral data generated by hundreds of billions of consumption hours. The company achieved unexpected earnings power in 2024 with 3Q gross profit up 62% YoY and operating income surging to about $2 billion annualized. Roku represents the largest connected TV operating system in North America with nearly 50% market share, positioned to benefit from Value Migration of digital advertising budgets converging with CTV. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 23, 2026 | Fund Letters | JDP Capital | Caesars Entertainment | Resorts & Casinos | Casinos & Gaming | Bear | NASDAQ | buyout, Casinos, entertainment, Gaming, Las Vegas, management, minority shareholders, Privatization | View Pitch |
| Apr 13, 2026 | Fund Letters | JDP Capital | Caesars Entertainment | Consumer Discretionary | Casinos & Gaming | Bull | NASDAQ | activist, breakup value, Casinos, entertainment, Free Cash Flow, high-margin, iGaming, Online-Gaming, ROIC, State Legalization | View Pitch |
| Apr 13, 2026 | Fund Letters | 1 Main Capital | Caesars Entertainment | Consumer Discretionary | Casinos & Gaming | Bull | NASDAQ | Casinos, Digital transformation, EBITDAR Growth, Free Cash Flow, Gaming, hospitality, iGaming, Las Vegas, Real Estate, Sports betting, synergies, turnaround | View Pitch |
| Apr 13, 2026 | Fund Letters | Choice Equities Capital Management | Caesars Entertainment Inc. | Consumer Discretionary | Casinos & Gaming | Bull | NASDAQ | Casinos, digital growth, entertainment, Gaming, iGaming, Las Vegas, Leisure Travel, Sports betting, Value | View Pitch |
| Apr 13, 2026 | Fund Letters | Buckley Capital | Caesars Entertainment | Consumer Discretionary | Casinos & Gaming | Bull | NASDAQ | deleveraging, Digital Sports Betting, FCF inflection, Gaming, iGaming, Las Vegas Real Estate, rate cuts, Sum-of-parts | View Pitch |
| Apr 13, 2026 | Fund Letters | JDP Capital | Caesars Entertainment, Inc. | Consumer Discretionary | Casinos & Gaming | Bull | NASDAQ | buybacks, Casinos, Digital transformation, Gaming, Interest Rate Sensitive, online sports betting, Travel, Value | View Pitch |
| Jan 27, 2026 | Fund Letters | Jeremy Deal | Caesars Entertainment Inc. | Consumer Discretionary | Casinos & Gaming | Bull | NASDAQ | Digital, Gaming, Optionality, turnaround, valuation | View Pitch |
| Jan 22, 2026 | Twitter / X | @CParyse86296 | Caesars Entertainment, Inc. | Consumer Discretionary | Casinos & Gaming | Bull | Nasdaq | Business, Czr, Digital, Digital Business, iGaming, Physical, Spin, States | View Pitch |
| Oct 6, 2025 | Value Investors Club | gcose4 | Caesars Entertainment Inc. | Consumer Discretionary | Casinos & Gaming | — | NASDAQ | casinos, gaming, digital betting, William Hill, FCF inflection, deleveraging, buybacks, Las Vegas, omni-channel, undervaluation | View Pitch |
| Aug 13, 2025 | Seeking Alpha | Seeking Profits | Caesars Entertainment | Consumer Discretionary | Resorts & Casinos | Bull | NASDAQ | — | 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. | ||||||||