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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 14, 2025 | Atai Capital Management | 32.8% | 29.4% | ALNT, ALOT, BELFB, CABO, HAI.TO | activism, Concentration, Governance, small caps, value | The fund operates a concentrated Micro and Small-Cap strategy with approximately 66% of the portfolio consisting of businesses with market caps smaller than $500M. The manager notes finding the current market environment difficult for idea generation in small caps. | ALOT CABO |
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| 2025 Q1 | May 20, 2025 | Atai Capital Management | -2.5% | -2.5% | ALOT, BELFB, CXI, EN7.ST, HAI.TO, QUIS, TPB | Concentration, Manufacturing, Quality, small caps, tariffs, Trade Policy | Manager extensively discusses tariff impacts following Liberation Day, noting 10% across-the-board tariffs with Chinese rates fluctuating from 145% to 30%. Emphasizes uncertainty around policy consistency and implementation, with businesses likely to wait out the administration rather than relocate manufacturing to the US. | View | |
| 2026 Q1 | Apr 14, 2026 | Mittleman Global Value Equity Fund | -4.6% | -2.3% | 0001.HK, 7270.T, 8715.T, AIM.TO, AMA.AX, BABA, BAYRY, CGX.TO, CLVT, FMS, GRFS, HAI.TO, MAT, NEXN, NFI.TO, NOMO, VTRS, VYX, WLN.PA, WPP, ZD | Concentration, global, Opportunistic, small caps, value | AIM.TO AMA.AX |
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| 2025 Q4 | Mar 10, 2026 | Atai Capital Management | -5.0% | 36.1% | BELFB, BKTI, EGAM, HAI.TO, KITW.L | Concentration, Microcap, Objectivity, Philosophy, Quality, small caps | The fund operates a concentrated Micro and Small-Cap strategy that naturally diverges from market indexes. Approximately 60% of the portfolio consists of businesses with market caps below $500M, with the top five positions accounting for ~60% of the portfolio. The manager has pivoted the portfolio more towards quality names, a shift first called out in the Q1-2025 letter. This represents an evolution in the investment approach while maintaining the core small-cap focus. | View | |
| 2024 Q3 | Nov 12, 2024 | Atai Capital Management | 6.5% | 4.4% | BELFB, GOOGL, HAI.TO, META, MSFT, TPB | defense, growth, Microcap, small cap, Streaming, Video Technology | Haivision provides video networking infrastructure for live streaming, particularly through their SRT protocol which is gaining adoption over legacy protocols like RTMP. The transition from legacy to modern IP-based protocols is expected to intensify over the next 3-5 years, creating growth opportunities. | HAI.TO |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Atai Capital Management | Haivision Systems Inc. | Information Technology | Technology Hardware, Storage & Peripherals | Bull | TSX | Canada, Decoders, Encoders, enterprise, Government Defense, growth, Hardware, live sports, SRT Protocol, technology, turnaround, Video Streaming | View Pitch |
| Jan 23, 2026 | Twitter / X | @NestBetter | Haivision Systems Inc. | Information Technology | Electronic Equipment, Instruments & Components | Bull | Toronto Stock Exchange | Bespoke, Canada, Cleaner, Control Room, Exiting, Hai, Integrator, Partner Model | 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. | ||||||||