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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Aug 6, 2024 | Greenlight Capital | 1.1% | 9.0% | ALIT, BHF, CEIX, CPRI, FCNCA, GPOR, HPQ, KD, ODP, ONEX.TO, SOLB.BR | energy, gold, Long/Short, Macro, technology, value | Gold continued its strong year-to-date performance and was a material contributor to the macro book this quarter, generating more than one percent return. | CPRI SOLB.BR KD HPQ CEIX |
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| 2024 Q2 | Jul 30, 2024 | Montaka Global Investments | - | - | AAPL, AMD, AMZN, BRK-A, BX, GOOGL, KD, KKR, MC.PA, META, MSFT, NVDA, SPOT, TSLA | AI, Cloud, Compounding, Concentration, growth, technology, value | The letter emphasizes AI as a huge boost to mega-cap tech companies, with Nvidia taking advantage of its stranglehold on insatiable demand for AI chips in a supply constrained market. Amazon and Microsoft's hyperscale cloud platforms AWS and Azure are positioned to keep winning big from the AI revolution. | View | |
| 2024 Q1 | May 9, 2024 | Greenlight Capital | 1.1% | 9.0% | BHF, CEIX, FHN, GRBK, HPQ, IMVT, KD, LBTYA, NYCB, PENN, ROIV, SOLB.BR, TECK, THC, VTSC.DE | AI, Copper, Long/Short, Macro, market structure, Passive investing, undervaluation, value | Greenlight established a position in HP Inc. to benefit from a potential AI-driven PC adoption cycle. Intel plans to release neural processing units this summer, and Microsoft is teasing AI features requiring NPUs. The firm believes AI optimism is not reflected in HPQ's share price. | LBTYA ROIV HPQ PENN SOLB.BR |
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| 2026 Q1 | May 5, 2026 | The Sound Shore Fund | -3.5% | -3.5% | BP, CHKP, CTRA, DIS, EQT, KD, LUV, MRVL, QCOM | active management, energy, large cap, technology, value, volatility | MRVL QCOM |
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| 2024 Q1 | Apr 27, 2024 | Montaka Global Investments | - | - | AAPL, AMD, BX, KD, MC.PA, MRNA, WMT | AI, compounders, global, Structural Change, technology | The AI wave has commenced and is already much larger than previously anticipated by industry insiders. AMD's AI chip was just released and the company revised their AI chip revenue forecast from $2 billion to $3.5 billion in just 92 days due to overwhelming customer demand. Future earnings forecasts for AMD will likely need substantial upward revisions. | KD AMD |
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| 2026 Q1 | Apr 15, 2026 | Rewey Asset Management | 9.2% | 9.2% | DNOW, HBAN, KD, UCTT | energy, Iran, Regional Banks, Rotation, semiconductors, small caps, value | DNOW KD UCTT |
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| 2026 Q1 | Apr 13, 2026 | Greenlight Capital | 6.5% | 6.5% | ACHC, CNR, CROX, DHT, GPK, KD, SLM, VSNT | Geopolitical, gold, healthcare, Macro, oil, shipping, War | SLM CROX VSNT CNR DHT ACHC |
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| 2024 Q3 | Oct 31, 2024 | Rewey Asset Management | 9.8% | 18.5% | AAPL, AMZN, GOOG, INTT, KD, LWAY, META, MSFT, NVDA, ORCL, SAP, TSLA, VMW | active management, rates, small caps, technology, value | Manager believes small and smid-cap value stocks are experiencing a rotation driven by Fed rate cuts and investor neglect. The Russell 2500 Value outperformed the S&P 500 in Q3, and the manager sees this as the beginning of a broader trend supported by undervaluation, Fed rate cuts, and soft economic landing expectations. | KD INTT LWAY |
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| 2023 Q3 | Oct 31, 2023 | Tourlite Capital Management | 4.5% | 13.8% | FIP, FTAI, KD, LTCH | arbitrage, consumer, Event Driven, industrials, Long/Short, small cap, special situations | The fund initiated positions in two event-driven arbitrage opportunities during the quarter, both contributing to performance. These involved identifying concrete catalysts that would lead to price convergence of securities with the same economic values. One position was previously unprofitable but gained conviction following positive change in management alignment. | FIP LTCH BKD FTAI |
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| 2024 Q3 | Oct 17, 2024 | Montaka Global Investments | - | - | AMD, AMZN, BX, CRM, FND, GOOGL, KD, KKR, MA, META, MSFT, NOW, SPGI, SPOT, V | AI, Asset Management, Cloud Computing, Global Equities, long-term, payments, technology | AI revolution is overwhelmingly native to the cloud and will drive incremental growth in cloud usage due to its inherently higher compute intensity. Enormous value can be unlocked through productivity enhancements on the enterprise side and engagement boosters on the consumer side. Most value is unlocked when AI models are married with customer data and meta data, favoring incumbents with decades of dataset building and existing customer bases for distribution. | View | |
| 2025 Q3 | Oct 15, 2025 | Royce Investment Partners Small Cap | 12.9% | 9.9% | AIR, AMSC, ATRO, CECO, CRK, FTI, GLOB, KD, KN, KTOS, LAUR, LFMD, MOD, OPRX, PRIM, PSQH, REZI, SOI, SWSS, UCTT | defense, industrials, infrastructure, Outperformance, semiconductors, small caps, technology, value | The Fund is maintaining investment emphasis on infrastructure themes, particularly AI data centers and reindustrialization in the U.S. This encompasses both Industrials and Energy sectors, with infrastructure being a key investment focus area for the portfolio. | View | |
| 2025 Q3 | Oct 14, 2025 | Greenlight Capital | -3.6% | 0.4% | AAPL, BHF, COYA, EIX, FLR, GRBK, KD, LXS.DE, META, MSFT, NVDA, PCG, SOLB.BR, TECK | AI, Biotechnology, Bubble, Mining, skepticism, technology, Utilities, value | Greenlight is highly skeptical of the massive AI investment cycle, questioning whether trillions in promised spending can generate adequate returns. The firm notes that much AI revenue is circular within the supply chain rather than from external customers, and compares the situation to the internet bubble where capital destruction occurred despite the technology's ultimate importance. | View | |
| 2025 Q3 | Oct 12, 2025 | Rewey Asset Management | - | 9.3% | AMAT, III, KD, LRCX, UCTT, VREX, WMT | AI, Cyclical, Fed Rates, Labor Market, semiconductors, small caps, value | Manager sees rotation from large-cap to small and smid-cap stocks beginning, with smaller cap indices outperforming in 3Q25. A modest 1% reallocation from S&P 500 to Russell 2500 Value would equate to buying 11% of that index, creating potential for significant outperformance as Fed cuts rates and economic conditions improve. | UCTT KD VREX |
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| 2024 Q4 | Jan 7, 2025 | Montaka Global Investments | - | - | AMZN, BABA, BX, CRM, FND, GOOGL, KD, KKR, MC.PA, MDB, META, MSFT, NOW, SPGI, SPOT, UNH | AI, Alternative Assets, Cloud, Concentration, Enterprise Software, growth, technology | AI represents a major structural transformation where the marginal cost of intelligence is rapidly approaching zero, catalyzing infusion into nearly all aspects of life and the economy. Montaka focuses on owning business advantages in AI rather than technologies, including economies of scale in compute delivery and embedded distribution channels. Enterprise deployments of AI applications are expected to accelerate meaningfully in 2025. | View | |
| 2023 Q4 | Jan 26, 2024 | Tourlite Capital Management | 4.5% | 13.8% | APG, ESPR, FC, FIP, FTAI, IMVT, KD, LTCH, PRM, PRVB, ROIV, SAN.PA | Aviation, Biotechnology, Event Driven, Long/Short, small caps, special situations | Fund initiated significant position in Roivant Sciences, a biotech company specializing in consolidating promising drug patents. Thesis based on cash value from asset sales, Immunovant stake, and pipeline upside potential. Also held Provention Bio which was acquired by Sanofi following FDA approval. | AFCG ROIV LTCH BKD FIP ESPR APG FTAI |
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| 2024 Q4 | Jan 22, 2025 | Royce Investment Partners Small Cap | 3.7% | 10.3% | AEHR, AMSC, ASPN, ASTH, AZTA, CECO, CRS, DSP, EVH, FARO, GTLS, HCSG, KD, KN, LAKE, MATV, PRIM, SLWS, SOLR, SRCL | energy, industrials, Infrastructure Spending, Onshoring, small caps, technology, value | Energy sector was a top performer with 14.95% quarterly returns and 29.40% annual returns. The fund increased domestic energy exposure, particularly in natural gas and power generation companies. Energy equipment & services was the top contributing industry for both quarterly and annual periods. | View | |
| 2023 Q4 | Jan 22, 2024 | Greenlight Capital | 1.1% | 9.0% | ALIT, ATVI, BHF, CEIX, GRBK, KD, SWN, SYENS.BR, THC, VTRS, VTSC.DE | Buybacks, energy, Geopolitical, healthcare, Long/Short, technology, value | Greenlight emphasizes disciplined valuation criteria and investments where they get paid by issuers through buybacks, dividends, interest, or take-outs rather than relying on investor revaluation. Many of their largest holdings offer double-digit returns directly to investors. | SYENS.BR VTRS ALIT VTSC.DE THC BKD CEIX GRBK |
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| 2024 Q4 | Jan 21, 2025 | Greenlight Capital | - | 7.2% | AAPL, BHF, CEIX, CNC, CNH, CPRI, GRBK, HPQ, KD, LIVN, LXS, MSTR, ODP, PTON, SOLB.BR, THC, TPG | Agriculture, crypto, ETFs, healthcare, Long/Short, technology, value | Greenlight discusses the speculative nature of cryptocurrencies, comparing them to collectibles with no intrinsic value. The letter highlights the emergence of memecoins like Fartcoin and Trump's official memecoin, noting the extreme valuations and speculative trading patterns in the crypto market. | CPRI CNC CNH PTON |
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| 2024 Q4 | Jan 18, 2025 | Rewey Asset Management | - | 27.3% | ARIS, AVNS, BKR, HAL, KD, SLB, WFRD | Concentration, neglect, Oil Services, small caps, SMID, value | Manager sees significant neglect and undervaluation in small and mid-cap stocks driven by the rise of index investing. Believes reallocation from large-cap tech concentration could drive substantial inflows to small/mid-cap space. Portfolio focuses on profitable companies within the Russell 2500 universe. | WFRD AVNS KD |
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| 2023 Q4 | Jan 16, 2024 | Plural Investing | 9.2% | 3.1% | KD, XPEL | consumer, small caps, Spin-Offs, technology, turnaround, value | The fund focuses on businesses trading at substantial discounts to conservatively calculated intrinsic value. Portfolio trades at 6.1x estimated net profits in three years with businesses still growing at double-digit rates. Manager emphasizes buying businesses they would be happy to own if the market shut for five years. | XPEL BKD |
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| 2023 Q2 | Jan 9, 2023 | Tourlite Capital Management | 4.5% | 13.8% | APG, FIP, FTAI, GLOP, KD, LESL, LTCH, PRM | AI, Aviation, consumer, industrials, Long/Short, Recession, small caps, technology | Manager notes AI hype has driven market strength in large cap tech but has negatively impacted their short positions. They observe significant disparity between AI company valuations and underlying business fundamentals, with one undisclosed short benefiting from AI hype despite anticipated weaker demand and misleading profitability metrics. | BKD KPRMILL IN FTAI FIP APG LTCH |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 23, 2026 | Fund Letters | Rewey Asset Management | Kyndryl Holdings | Information Technology Services | IT Consulting & Other Services | Bull | New York Stock Exchange | contrarian, Free Cash Flow, IBM Spinoff, IT services, transformation, turnaround | View Pitch |
| Apr 13, 2026 | Fund Letters | Greenlight Capital | Kyndryl Holdings | Technology | IT Services | Bull | NYSE | growth, infrastructure, IT services, technology, transformation | View Pitch |
| Apr 13, 2026 | Fund Letters | Montaka Global Investments | Kyndryl Holdings Inc | Information Technology | IT Services | Bull | NYSE | Earnings transformation, Enterprise Technology, IT services, Mission-critical systems, Outsourcing, Tactical position | View Pitch |
| Apr 13, 2026 | Fund Letters | Rewey Asset Management | Kyndryl Holdings Inc | Information Technology | IT Consulting & Other Services | Bull | NYSE | Free Cash Flow, IT services, M&A Target, Managed Infrastructure, margin expansion, Share Buyback, Technology Consulting | View Pitch |
| Apr 13, 2026 | Fund Letters | Rewey Asset Management | Kyndryl Holdings, Inc. | Information Technology | IT Consulting & Other Services | Bull | NYSE | AI infrastructure, cloud infrastructure, Free Cash Flow, IBM Spinoff, investment grade, IT services, margin expansion, Mission-Critical, turnaround, undervalued | View Pitch |
| Nov 29, 2025 | Fund Letters | Chip Rewey | Kyndryl Holdings Inc. | Information Technology | IT Services | Bull | NYSE | infrastructure, IT services, margin expansion, transformation | View Pitch |
| Oct 13, 2025 | Seeking Alpha | Seeking Alpha | Kyndryl Holdings, Inc. | Information Technology Services | Bull | buying opportunity, fiscal 2026, IT infrastructure, Kyndryl Holdings, long-term prospects, market overreaction, Q3 2025 performance, Revenue Growth | View Pitch | ||
| Sep 27, 2025 | Seeking Alpha | Seeking Alpha | Kyndryl Holdings, Inc. | Information Technology Services | Bull | cloud services, DCF Model, Digital transformation, Kyndryl Holdings, Managed IT Services, margin expansion, Post-Spin Strategy, Revenue Growth, Share Buyback, Undervalued Stock | View Pitch | ||
| Sep 16, 2025 | Short Thesis | Gotham City Research | Kyndryl Holdings Inc | Information Technology | IT Consulting & Other Services | Bear | NYSE | IT services, Legacy, leverage, Margins, Outsourcing | 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. | ||||||||