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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jun 30, 2025 | Clark Street Value | - | -3.6% | ACR, ATHA, CKX, CMCT, CRGX, EHAB, EPIX, GRBK, HLVX, HMST, IGT, IKNA, IOR, ME, MREO, MURA, NSTS, PARR, RPTX, SEG, SHCO, THRD | Banking, Biotechnology, REITs, small caps, special situations, value | Manager holds extensive broken biotech basket including companies that have halted development and are pursuing strategic alternatives or liquidations. These biotechs trade at significant discounts to net cash with potential for Tang-style buyouts or liquidations. | IGT EHAB SHCO NSTS IOR CKX THRD RPTX MURA EPIX ATHA |
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| 2024 Q1 | Apr 15, 2024 | Palm Harbour Capital | 5.1% | 13.5% | 1952.T, 9404.T, ALL.AX, CIR.MI, EVRI, FDJ.PA, FLTR.L, HAT.L, IGT, LNW, OCWN, OPAP.AT, PBL.TO, PPA.AT, SYENS.BR, TISG.MI | Buybacks, dividends, Europe, gaming, Media, Ports, small caps, value | Portfolio trades at weighted average P/E of 8.9x with 17% FCF/EV yield and 28% return on tangible capital. Manager believes portfolio has more than 101% upside to estimated NAV. Focus on undervalued companies with strong cash generation and balance sheet efficiency opportunities. | IGT |
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| 2022 Q3 | Nov 15, 2022 | Palm Harbour Capital | 5.1% | 13.5% | 4966 JP, BAYA GR, GPL SJ, GSMI PM, HAT LN, IGT, MHZ GR, OCI NA, ODF GR, RHIM SW, UNIR IM | - | View | ||
| 2022 Q4 | Nov 2, 2023 | Palm Harbour Capital | 5.1% | 13.5% | BOAVSTB BZ, CALT IM, IBST LN, IGT, IHRT, JST GR, LNA FP, MOH GA, MTX GR, RHIM LN, VRLA FP | - | View | ||
| 2024 Q2 | Aug 20, 2024 | Silver Ring Value Partners | 0.0% | 0.0% | ALFAA.MX, EVRI, HRL, IGT | Catalyst, Food, gaming, Intrinsic Value, Mexico, Quality, Spin-off, value | Manager emphasizes investing in genuinely attractive investments where mispricing is clear, avoiding the need to squint to see value. Portfolio trades at 60% of base case value excluding cash, with focus on businesses trading well below intrinsic value estimates. | ALFAA.MX IGT |
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| 2023 Q2 | Aug 8, 2023 | Palm Harbour Capital | 5.1% | 13.5% | 086280 KS, 200 HK, 4966 JP, IGT, LNA FP, LTMC IM, MTX GR, OCI NA, PRT IM, RHIM LN, VARRY | - | View | ||
| 2024 Q2 | Jul 29, 2024 | Palm Harbour Capital | 5.1% | 13.5% | 0FHO LN, CED IM, DAL LN, GSMI PM, IGT, LNA FP, OCI NA, PPA GA, SOLB BB, TKA AV, WIX LN | - | View | ||
| 2023 Q1 | Apr 23, 2023 | Palm Harbour Capital | 5.1% | 13.5% | CAL.MI, CIR.MI, DAN.MI, GSMI.PS, IGT, IHRT, OCI.AS, PRT.MI, TESB.BR, TKA.VI, VAR.OL | Banking, dividends, Europe, portfolio, Steel, Telecommunications, value | Portfolio trades at weighted average P/E of 8.5x, FCF/EV yield of 19% and return on tangible capital of 30%. Manager believes this is a great time to be a value investor and sees more than 105% upside to estimated NAV. | TKA.VI |
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| 2023 Q4 | Jan 31, 2024 | Palm Harbour Capital | 5.1% | 13.5% | BAYN.DE, IGT, MLCO, OCI.AS, RHIM.L, SOLB.BR, SYENS.BR, TKA.VI | Chemicals, Europe, Japan, special situations, value | Japan has been one of the cheapest markets in recent years due to poor corporate governance and capital allocation. The new CEO of the Japanese Stock Exchange has openly criticized companies trading below book value and demanded improved capital efficiency. This has created a potential multi-year bull market for value stocks in Japan as companies begin using cash piles for investment and shareholder returns. | SOLB.BR |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Palm Harbour Capital | International Game Technology | Consumer Discretionary | Casinos & Gaming | Bull | NYSE | Casinos, deleveraging, Gaming, Italy, Lottery, merger, spin-off, technology, Value | View Pitch |
| Apr 13, 2026 | Fund Letters | Silver Ring Value Partners | International Game Technology | Consumer Discretionary | Casinos & Gaming | Bull | NYSE | Apollo, Catalyst, dividend, Gaming, government contracts, Lottery, Share Buybacks, spin-off | View Pitch |
| Dec 5, 2025 | Fund Letters | Pearu Põld | International Game Technology PLC | Real Estate | Casinos & Gaming | Bull | NYSE | capital returns, Gaming, Lottery, restructuring, Transaction | 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. | ||||||||