ENVX

ENVX

ENVX

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q2	Aug 6, 2024	Long Cast Advisers	6.0%	16.0%	CCRD, ENVX, MAMA, MTRX, PESI, RELL, RSSS, SOTK	Concentration, Construction, Research, small caps, value	The fund focuses on small and under-owned companies with long and wide opportunity pathways. The manager looks for companies that enable ample room for compounding and can withstand market conditions without terminal value destruction. The concentrated portfolio is positioned with companies that meet this profile.	RSSS MTRX	View
2025 Q2	Jul 23, 2025	Massif Capital	6.2%	16.5%	6368.T, AFM.L, AMPX, CHG.L, ENVX, EQNR, GKP.L, GLO.TO, HBR.L, MP, TSM, VAR.OL	Battery Technology, Critical Minerals, defense, energy, Europe, Mining, Natural Gas, semiconductors	Portfolio heavily invested in tin and tungsten mining companies due to supply constraints and growing demand. Alphamin dominates tin production with strong margins while tungsten faces extreme geographic concentration with China controlling 80% of global production. Both metals are essential for defense, aerospace, and electronics applications with limited alternative suppliers.	ENVX ENVX 6368 JP CHG LN	View
2024 Q1	May 7, 2024	Long Cast Advisers	6.0%	16.0%	CCRD, CCRN, CTEK, DAIO, ENVX, LRCX, MTRX, PESI, PSSR, QRHC, RELL, RSSS, SNES	concentrated, Cyclical, Fundamental Analysis, small caps, Turnarounds, value	Manager focuses exclusively on small companies that are barely included in any indices, using fundamental analysis to evaluate financial statements and corporate strategies. The concentrated approach targets well-researched small companies offering compelling opportunities for high returns through long-term cash earnings analysis.		View
2024 Q1	May 18, 2024	Massif Capital	2.4%	12.0%	AES, COPX, ENR.DE, ENVX, EQX.TO, LIT, OCI.AS, PLL	energy, Fertilizers, gold, materials, Mining, real assets	Gold has rallied 25% since October 2023 despite traditional models suggesting otherwise, driven by fear-based buying from central banks, Asian retail, and US retail rather than wealth-driven consumption. Central banks have accelerated gold accumulation due to USD system concerns and geopolitical instability. The manager expects continued bullish momentum given low probability of fear-reducing events.	OCI.AS	View
2024 Q1	Apr 18, 2024	Liberty Park Capital Management	-4.1%	-4.1%	ASPN, BELFB, BLN.TO, COHR, ENS, ENVX, HEES, HQI, INTT, ITI, KRNT, LMB, LUNA, NVEE, POWL, PWFL, RELL, SWIM, TGLS, TWI	Industrial, Long/Short, small caps, technology, value	Markets rallied to start the year thanks to AI enthusiasm, with AI-related transceivers at Coherent growing over 100% quarter-over-quarter. However, AI enthusiasm has moderated as the fund moved into Q2 2024.	BLN.TO LUNA	View
2025 Q3	Nov 3, 2025	Massif Capital	36.1%	41.5%	AFM.L, CHG.L, ENVX, EQNR, EQX.TO, GLO.TO, GMIN.TO, HBR.L, LITM, LUN.TO, MMA.V, NGEX.TO, NICU.V, VAR.L	Alpha Generation, Copper, Critical Minerals, European Energy, gold, Mining, Natural Gas, real assets	Gold is overbought but not over owned, with government debt levels supporting continued allocation to gold miners. The fund reduced exposure after strong performance, exiting GMIN while maintaining EQX position. High dispersion in gold miner results creates attractive opportunities for active management.		View
2024 Q3	Oct 31, 2024	Liberty Park Capital Management	7.1%	2.5%	AUR, BLN.TO, CGNX, CLAR, CLW, ENS, ENVX, ETD, GTLS, HQI, INTT, ITI, KRNT, LMB, MEG, NVEE, SWIM, THRY, XMTR, YOU	Election, Long/Short, Manufacturing, Rate Cuts, small caps, technology	Small cap equities were prime beneficiaries of the risk-on sentiment shift following Fed rate cuts and Trump assassination attempt. The fund focuses on small cap investments with Russell 2000 benchmark and weighted average market cap of $1.4 billion for Select Opportunities portfolio.	XMTR	View
2024 Q3	Oct 29, 2024	Massif Capital	2.4%	12.0%	AFM.TO, ENR.DE, ENVX, EQX.TO, GEV, OCI	China, commodities, Energy Transition, Europe, Mining, real assets, volatility	China's economic growth model is at an inflection point due to unsustainable credit expansion, inefficient financial allocation, and mounting fiscal pressures. The manager expects this growth overhang to weigh on commodity prices and the real asset ecosystem for the next 12 to 18 months.	AFM.TO ENR.DE	View
2024 Q3	Oct 25, 2024	Long Cast Advisers	6.0%	16.0%	AAPL, BANC, CCRD, ENVX, GS, JPM, MTRX, PDEX, PESI, QRHC, SNES	Concentration, Medical Devices, payments, small caps, value	PDEX is a contract manufacturer to the medical device industry with a marquee torque limiting driver for orthopedic and maxillofacial surgeries. The company recently completed manufacturing expansion and now has capacity for $80M-$100M in sales, up from under $40M in FY21. Management is patient and thoughtful with a long-term approach.	CCRD PDEX	View
2025 Q4	Jan 16, 2026	Massif Capital	9.6%	50.0%	1211.HK, BHP, ENVX, EQNR, EQX.TO, GLEN.L, GLO.TO, GMIN.V, Gold, HBR.L, KGHM, LITM, LRV.AX, LUN.TO, LYB, MGN.V, MMA.V, RIO, VALE, VAR.OL	commodities, Copper, energy, geopolitics, gold, inflation, Mining, real assets	Portfolio exposure narrowed from 16% to 10% in single position (Equinox Gold). Manager believes gold serves as monetary hedge amid central bank independence concerns and persistent inverse relationship with dollar. Central bank accumulation from emerging markets expected to continue. Largest theme at 29% allocation across core positions. Structurally tight physical market with mine supply disruptions exceeding 6% of global output. Treatment charges collapsed to negative levels signaling constrained concentrate availability. Policy-driven stockpiling creates upside convexity. 16% portfolio allocation expecting price volatility as base case. Market characterized by visible surplus yet episodic geopolitical premiums. Focus on companies with proven economics at mid-cycle prices and flexible capital programs rather than directional oil price bets. Manager challenges assumptions about demand destruction and rapid substitution in energy. Views transition as energy addition rather than replacement, raising near-term energy intensity. Supply governed by decline rates rather than responsiveness. Policy creating regional cost asymmetries and oligopolies in heavy industry. Geopolitics now shapes supply chains, governs capital access, and determines project feasibility. Political alignment increasingly influences risk premia and monetization. Persistent inflation driven by labor constraints, energy dynamics, and geopolitical fragmentation challenges embedded assumptions from post-2009 regime. Higher real-rate environment appears durable rather than transitory, altering risk-return arithmetic.	GLO CN LAR LUN CN MMA CN EQNR NO HBR LN VAR NO GMIN CN EQX CN	View
2023 Q1	Aug 5, 2023	Long Cast Advisers	6.0%	16.0%	CCRD, CCRN, DAIO, ENVX, MTRX, PESI, SOTK, TBTC	Construction, energy, nuclear, small cap, turnaround, value	PESI operates one of only three DOE-licensed facilities for low-level nuclear waste treatment. The company has potential to significantly expand through processing Hanford cleanup waste via grouting at their Northwest facility, with regulatory approvals received in early 2023.	MTRX PESI	View
2024 Q2	Jul 25, 2024	Liberty Park Capital Management	7.1%	2.5%	BELFB, BLBD, BLN, CGNX, COHR, ENVX, ETD, HEES, INTT, ITI, KRNT, LMB, LWLG, NVEE, PRIM, RELL, SWIM, TGLS, THRY, WEAV	AI, Long/Short, small caps, technology, turnaround, value	The manager believes the current AI hype cycle is coming to an end as investors notice actual revenue from AI is minimal relative to enormous capital equipment investment. OpenAI forecasts only $3.4 billion in 2024 revenue while over $100 billion has been spent on data center capex in the past 12 months. The AI industry needs time to digest this massive investment.	KRNT	View
2024 Q2	Jul 23, 2024	Massif Capital	2.4%	12.0%	ENR.DE, ENVX, LAAC, LAC	Battery Technology, commodities, Energy Transition, Grid Infrastructure, inflation, Mining, real assets, Utilities	Despite Federal Reserve rate hikes, inflation remains stubbornly high in certain sectors with elevated consumer expectations. Structural inflationary pressures persist in shipping costs, copper prices, and other commodities due to supply constraints and capacity limitations.		View
2023 Q2	Jun 30, 2023	Long Cast Advisers	6.0%	16.0%	CCRD, DAIO, ENVX, MMMB, MTRX, PESI, RELL, SIFY	Concentration, small caps, value			View
2022 Q4	Jan 31, 2023	Long Cast Advisers	6.0%	16.0%	AMPX, CCRN, ENVX, RSSS	-			View
2024 Q4	Jan 22, 2025	Massif Capital	0.0%	12.1%	AFM.TO, BHP, COPX, ENR.DE, ENVX, EQX.TO, EXI, FILL, GDX, GDXJ, GEV, GMIN.TO, LAAC, PICK	commodities, Copper, energy, gold, Lithium, Metals, Mining, real assets	LAAC position suffered 4.6% drawdown in 2024 despite strong operational progress. Management announced 2024 production of 25kt and 2025 guidance of 30-35kt. Updated technical report shows long-term operating costs of $6.5/kg, implying NAV of $3.6 billion versus current market cap of $486 million.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Massif Capital	Enovix Corporation	Information Technology	Electronic Equipment, Instruments & Components	Bull	NASDAQ	battery technology, Energy-Density, Fast Charging, growth, Short squeeze, Silicon-Anode, Smartphone, technology	View Pitch
Jan 22, 2026	Twitter / X	@taubamush	Enovix Corporation	Industrials	Electrical Equipment & Parts	Bear	NASDAQ	According, Batteries, Enovix, Lithium, manufacturing, process control, Samsung, yield	View Pitch
Jan 8, 2026	Fund Letters	Will Thomson	Enovix Corporation	Industrials	Electrical Components & Equipment	Bull	NASDAQ	Batteries, Energy-Density, growth, innovation, Shortsqueeze, Silicon-Anode	View Pitch
Sep 16, 2025	Short Thesis	ESG Hound	Enovix Corp	Industrials	Electrical Components & Equipment (Battery Tech)	Bear	NASDAQ	Batteries, Capital, Competition, Delays, Lithium	View Pitch
Sep 16, 2025	Short Thesis	Adam Taub	Enovix Corp	Industrials	Electronic Components	Bear		Battery tech, cash burn, Competition, Dilution risk, Production delays	View Pitch

BSD Shareholders of ENVX

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

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.

Join for free and get access to the buyside

Get insights from the world's most influential hedge fund investors direct to your inbox

Follow Us On: