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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2023 Q3 | Sep 30, 2023 | EQUAM Global Value Fund | 1.0% | 12.3% | BFSA GR, DFS LN | Europe, Small equity | The letter emphasizes a disciplined value investing approach focused on acquiring niche-leading European small and mid-cap companies at significant discounts to intrinsic value. In a backdrop of slowing European growth, persistent inflation, and high interest rates, the fund highlights portfolio resilience driven by low leverage, strong market positions, and attractive multi-year low valuation multiples. Management underscores that recessionary environments often allow financially strong market leaders to gain share and emerge stronger, reinforcing the asymmetric risk-reward profile and a reported upside potential of approximately 94%. | BFSA GR DFS LN |
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| 2022 Q1 | Mar 31, 2022 | EQUAM Global Value Fund | -0.6% | -0.6% | ADM LN, DFS LN, HLMA LN, INTER NA, NRO FP, OGN ID, TTK GR, VPK NA | European Small Caps, inflation protection, interest rates, Intrinsic Value, Upside Potential | The letter highlights a cyclical shift in market leadership as rising inflation and higher interest rates drive investors away from expensive growth stocks toward undervalued, stable companies. After years of headwinds from ultra-low rates, value investing is regaining traction as monetary tightening reduces liquidity support for high-multiple assets. The portfolio trades at a significant discount to intrinsic value with upside potential exceeding 90%, supported by resilient cash flows, takeover activity near target valuations, and strong balance sheets across holdings. | NRO FP OGN ID DFS LN |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 26, 2026 | Fund Letters | Alejandro Muñoz | DFS Furniture plc | Consumer Discretionary | Specialty Retail | Bull | New York Stock Exchange | buybacks, cash generation, dividends, market share, retail, shareholder yield | View Pitch |
| Feb 26, 2026 | Fund Letters | Alejandro Muñoz | DFS Furniture plc | Consumer Discretionary | Home Furnishings Retail | Bull | New York Stock Exchange | consolidation, Cyclical, Housing, leverage, market share, recovery, valuation | 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. | ||||||||