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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Sep 7, 2024 | Bonhoeffer Capital Management | 11.3% | 0.0% | AHELQ, AHT.L, ASB, BLDR, FFBB, NBN, TIGO, TVK.TO, UBAB, VTY.L | Banking, Consolidation, Distribution, Homebuilders, small caps, value | Holdings in car dealerships, branded capital equipment dealerships, building product distributors, automobile transportation logistics, and capital equipment leasing firms. Focus on high-velocity dealerships with superior inventory turns in markets around the world. | View | |
| 2025 Q1 | May 20, 2025 | Bonhoeffer Capital Management | -3.4% | -3.4% | ABG, ARW, AXOS, BLDR, FFBB, MSBC, NBN, TIGO, TRVS.TO, UBAB, VTY.L | banks, Consolidation, deep value, Distribution, infrastructure, real estate, small cap, value | Holdings in car dealerships, branded capital equipment dealerships, building product distributors and electrical component distributors comprise 54% of portfolio. Focus on highest velocity distributors with strong inventory turns in markets worldwide. Distribution firms include Builders First Source, Asbury Automotive, Arrow Electronics, Ferrycorp, Terravest and Autohellas. | MSBC 161560.KS TTVS.TO |
View |
| 2024 Q3 | Dec 15, 2024 | Bonhoeffer Capital Management | 11.3% | 0.0% | ABG, AHT.L, ARW, BLDR, FFBB, LOTTE.KS, NBN, NOA.TO, TIGO, TVK.TO, UBAB, VST.L | Asia, banks, Buybacks, Consolidation, Construction, Distribution, growth, value | Holdings in car dealerships, branded capital equipment dealerships, building product distributors and electrical component distributors comprise 51.6% of portfolio. Focus on highest-velocity distributors with strong inventory turns in markets worldwide. Arrow Electronics exemplifies the model with modest earnings growth and aggressive buybacks. | View | |
| 2024 Q4 | Mar 14, 2025 | Bonhoeffer Capital Management | 9.7% | - | ABG, ASO, BECN, BLDR, FFBB, NBN, TIGO, UBAB | Banking, Buybacks, Consolidation, deep value, Distribution, small cap, value | Holdings include car dealerships, branded capital equipment dealerships, building product distributors and electrical component distributors. The fund owns some of the highest velocity distributors in markets around the world. Asbury Automotive exemplifies this theme with its model to grow earnings through merger and acquisition or buy back shares if acquisition targets are not available for a reasonable price. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Sep 26, 2025 | Substack | Pillars and Profits | FFB Bancorp | Financial Services | Banks - Regional | Bull | banking, Competitive Advantage, FDIC consent notice, FFB Bancorp, growth potential, high ROE, payment services, regulatory compliance, share repurchase, technology | 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. | ||||||||