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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q4 | Dec 31, 2024 | Rubicon equities | - | -12.2% | COP GR, JST GR | active management, Concentration, earnings, Mega Caps, Valuation gap | Equity performance reflects a widening valuation dispersion between mega-cap leaders and the broader market, creating selective opportunities for active managers. Concentration risk in indices has increased sensitivity to earnings revisions and sentiment shifts. A disciplined intrinsic value framework seeks to exploit mispricing as macro volatility tests investor conviction. | COP GR JST GR |
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 Q3 | Oct 13, 2024 | Gehlen Brautigam | 0.7% | 6.8% | 0OC9 LN, AR4 GR, BIJ GR, CRYNY, GYM LN, JST GR, STO3 GR, TPFG LN | - | View | ||
| 2024 Q4 | Jan 28, 2025 | Citadel Value Fund SICAV | - | - | BC, JST GR, KER FP, MPAC LN, TGS | CashFlow, Discipline, Quality, risk, valuation | Valuation: The portfolio trades at a 44% discount to intrinsic value with a 6% look-through FCF yield and ~8x EV/EBITA, far below global equity indices. Citadel highlights the extreme valuation dispersion created by the Magnificent Seven and argues that deep value opportunities are unusually attractive. Quality: The Fund increased positions in several high-quality industrial and technology names (Continental, Nichirin, Samsung, Sumco, TGS) following share price weakness. New positions in Jost Werke, Kering and Brunswick were selected for strong market positions, resilient profitability, capable management and long runways for recovery. Risk: The letter stresses that permanent capital lossnot volatilityis true risk. The Stellantis exit illustrates this philosophy; despite a strong 2023, operational missteps in 2024 revealed growing risk, prompting divestment. | View | |
| 2025 Q1 | Apr 22, 2025 | Palm Harbour Capital | - | - | 5482 JP, IGT, JST GR, LTMC IM, NOEJ GR, OCN LN, ODET FP, PPA GA, SUI SJ, TISG IM, VRLA FP | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 26, 2026 | Fund Letters | Lars Ahns | JOST Werke SE | Industrials | Construction Machinery & Heavy Transportation Equipment | Bull | Xetra | acquisition, cashflow, Cyclicality, EVEBIT, Industrials | 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. | ||||||||