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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | May 7, 2024 | Longleaf Partners International Fund | 11.2% | 10.4% | 035420 KS, 6BE GR, AC FP, GLB LN, HDB, LXS GR | - | View | ||
| 2025 Q1 | Apr 12, 2025 | Longleaf Partners International Fund | 0.7% | 0.7% | 1910 HK, COST, CUERVO* MM, GLB LN, GMKKY, JFC PM, LXS GR, PRX NA, TIGO | - | View | ||
| 2025 Q4 | Feb 5, 2026 | Black Bear Value Partners | 0.1% | -12.6% | BLDR, FLG, HCC, LXS GR, PSK CN, TDW | Capital Investment Cycles, deep value, free cash flow, Mean reversion, Short Selling | The letter highlights a portfolio positioned for re-rating as multiple holdings near the end of capital investment cycles with permanent capital impairment viewed as remote. Black Bear emphasizes deep value opportunities in housing, energy, metallurgical coal, and foreign equities, while maintaining a substantial short book targeting speculative business models and over leveraged balance sheets. The manager expects normalized cash flows, capital returns, and mean reversion to drive significant upside as valuation meets reality. | LXS GR HCC FLG PSK CN TDW BLDR |
View |
| 2023 Q4 | Dec 31, 2023 | Oakmark Fund- International Small Cap | 11.5% | 18.6% | DUE GR, KCR FH, LXS GR, VALMT FH | - | View | ||
| 2025 Q3 | Oct 8, 2025 | Black Bear Value Partners | -1.0% | -12.7% | BLDR, FLG, HCC, LXS GR, TDW | commodities, cyclicals, energy, Housing, Value Investing | The letter underscores contrarian value investing in out-of-favor sectors and companies. Cyclical pessimism and short-term earnings pressure are seen as temporary rather than structural. Recovery in fundamentals can drive meaningful re-rating over time. | HCC TDW LXS FLG BLDR |
View |
| 2025 Q3 | Oct 14, 2025 | Greenlight Capital | -3.6% | 0.4% | COYA, EIX, GRBK, KD, LXS GR, PCG, TECK | AI, Bubble risk, energy, Utilities, valuation | Greenlight critiques the AI investment mania, arguing trillion-dollar spending plans lack financial grounding. The fund remains cautious on equity valuations and warns of potential capital destruction similar to past bubbles. Holdings like Pacific Gas & Electric and Teck Resources reflect contrarian positioning in undervalued and energy-related names. | View | |
| 2023 Q2 | Jul 19, 2023 | Longleaf Partners International Fund | 11.2% | 10.4% | AC AV, APPS SM, LXS GR | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 21, 2026 | Fund Letters | Adam Schwartz | Lanxess | Materials | Specialty Chemicals | Bear | Xetra | asset monetization, Balance Sheet Risk, debt burden, execution risk, specialty chemicals | 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. | ||||||||