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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2023 Q3 | Oct 21, 2023 | Blue Tower Asset Management | 8.8% | 0.0% | ENVA | AI, Data centers, innovation, productivity, semiconductors, technology, value | The letter extensively discusses the generative AI boom of 2023, driven by transformer models like GPT-4. While AI has revolutionized training speeds and capabilities, the manager believes the best current applications are for productivity enhancement rather than investment decision-making, as AI-focused investment funds have historically underperformed. | ENVA |
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| 2024 Q3 | Oct 12, 2024 | Blue Tower Asset Management | 8.8% | 0.0% | ARW, AVT, ENVA, GWW, RXL.PA, WCC | Buybacks, Distribution, Energy Transition, Rate Cuts, small caps, value | Electric vehicle adoption, solar energy expansion, and data center growth are driving huge secular demand for electrical equipment distribution. These trends create new opportunities in charging infrastructure, photovoltaic components, and power infrastructure while benefiting distributors through operational leverage. | WCC |
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| 2025 Q4 | Jan 12, 2026 | Blue Tower Asset Management | 13.2% | 53.1% | 4028.T, BELFB, CGEO.L, ENVA, WCC | AI, Banking, Buybacks, Fintech, growth, international, productivity, value | Blue Tower focuses on value investing with international diversification. The manager notes that the valuation spread between cheap and expensive stocks is one of the greatest in market history, creating a favorable environment for their value-oriented approach. Enova has been aggressively repurchasing shares, reducing share count by more than 5% over 12 months and from 36.87M shares in Q3 2021 to 24.88M shares in Q3 2025. Georgia Capital also pursued aggressive share repurchases, reducing shares outstanding by 8.8% in the first nine months of 2025. The manager believes AI represents true innovation with measurable impacts on businesses and worker productivity. A Federal Reserve study found AI usage translated to roughly 1.1% aggregate productivity gains, with expectations for higher quality tools to drive further improvements. Enova represents a rapidly growing fintech company with machine learning-driven underwriting algorithms that are retrained frequently. The acquisition of Grasshopper Bank will create a more vertically integrated financial services platform with new banking and lending products. | CGEO LN ENVA |
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| 2022 Q3 | Aug 10, 2022 | Blue Tower Asset Management | 8.8% | 0.0% | ENVA | - | View | ||
| 2023 Q2 | Jul 22, 2023 | Blue Tower Asset Management | 8.8% | 0.0% | ENVA, META, SBER.ME, TCS.ME | Corporate Governance, Japan, Russia, Sanctions, small caps, TSE Reforms, value | Tokyo Stock Exchange reforms targeting companies trading below book value through new disclosure requirements and tradable share minimums. These changes will pressure Japanese management teams toward better capital allocation and shareholder-friendly behavior, particularly benefiting small-cap value stocks through potential acquisitions and improved governance. | View | |
| 2024 Q4 | Jan 25, 2025 | Blue Tower Asset Management | 5.0% | 22.3% | ARM, ENVA, MSFT, NVDA, ORCL, WCC | AI, global, infrastructure, Russia, Sanctions, technology, Ukraine, value | AI continues as the most important technology theme in 2025, with DeepSeek's breakthrough demonstrating superior reasoning capabilities using reinforcement learning at a fraction of US training costs. The $500 billion Stargate Project will build massive AI infrastructure across the US. AI will transform the entire economy over 20 years, with the biggest beneficiaries potentially being companies with proprietary data or deployment capabilities rather than AI technology suppliers. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Blue Tower Asset Management | Enova International | Financials | Consumer Finance | Bull | NYSE | AI, analytics, competitive moat, consumer finance, machine learning, proprietary data, subprime lending, technology | View Pitch |
| Jan 27, 2026 | Fund Letters | Andrew Oskoui | Enova International, Inc. | Financials | Consumer Finance | Bull | New York Stock Exchange | Accretion, buybacks, Deposits, Fintech, Margins, underwriting | 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. | ||||||||