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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q1 | Apr 25, 2025 | O’Keefe Stevens Advisory, Inc | - | - | BGC, BKRIF, BMWKY, CMP, DFIN, FPH, MBGYY, NVDA, QCOM, ROKU | Autos, Buybacks, earnings, risk management, value, volatility | The manager extensively discusses heightened market volatility, noting that earnings reactions have significantly exceeded historical norms. Stocks beating expectations outperformed by 248bps vs historical 148bps, while misses underperformed by 362bps vs historical 245bps. The implied versus realized volatility relationship has reversed since Q1 2021, with realized volatility occasionally surpassing implied volatility. | CMP MBGYY BMWKY FPH DFIN |
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| 2024 Q4 | Feb 19, 2025 | Voss Value Fund | 9.5% | 19.9% | AMTM, CTS.TO, EEFT, FUJHY, MBGYY, PLYA, SWI | Long/Short, M&A, small caps, special situations, undervalued, value | The fund focuses on identifying undervalued securities trading at significant discounts to intrinsic value. The manager emphasizes valuation discipline as a core investment virtue and seeks idiosyncratic, value-oriented special situations amid market extremes. | AMTM FUJHY MBGYY EEFT |
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| 2025 Q3 | Nov 8, 2025 | Cullen Value Fund | 6.8% | 15.9% | AMAT, BAC, BDX, BMY, BWA, C, CI, CMCSA, DIS, JPM, KVUE, LOW, MBGYY, MDLZ, MS, MU, NEE, ORCL, SRE, UNH | AI, dividends, financials, growth, healthcare, technology, value | AI investments have propelled markets higher with euphoria around AI driving the Magnificent 7 to record valuations. Trillions of dollars are being invested into agentic AI that will eventually need to be monetized. Capital expenditures among top hyperscalers have surged as they race to establish leadership in generative AI, creating a self-perpetuating cycle of investment. | UNH SW BDX |
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| 2025 Q1 | Mar 31, 2025 | Distillate Capital Fundamental Stability & Value | -1.0% | -1.0% | BGC, BKRIF, BMWKY, CMP, DFIN, FPH, MBGYY, NVDA, QCOM, ROKU | Autos, Buybacks, earnings, real estate, value, volatility | Market volatility has significantly increased with earnings reactions exceeding historical norms. Stocks beating expectations outperformed by 248bps vs historical 148bps, while misses underperformed by 362bps vs historical 245bps. Realized volatility now occasionally surpasses implied volatility, indicating markets may be underpricing risk. | CMP MBGYY BMWKY FPH DFIN |
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| 2024 Q4 | Feb 19, 2025 | Voss Value Offshore Fund | 9.6% | 19.2% | AMTM, CTS.TO, EEFT, FUJHY, J, MBGYY, PLYA, SWI, TM, TSLA | buyouts, Long/Short, M&A, small caps, special situations, value | The fund's main theme for 2025 focuses on small cap M&A and special situations after two years of dismal deal flow. Three quick wins from acquisitions occurred year-to-date: SWI, CTS CN, and PLYA. The manager expects several additional portfolio companies to be acquired as the year progresses. | AMTM FUJHY MBGYY EEFT |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Distillate Capital Fundamental Stability & Value | Mercedes-Benz Group | Consumer Discretionary | Automobile Manufacturers | Bull | OTC | attractive valuation, automotive, dividend yield, German, low leverage, Luxury Vehicles, premium, share repurchase | View Pitch |
| Apr 13, 2026 | Fund Letters | O'Keefe Stevens Advisory, Inc | Mercedes-Benz Group | Consumer Discretionary | Automobile Manufacturers | Bull | OTC | attractive valuation, Cyclical, dividend yield, German, low leverage, luxury automobiles, share repurchases | View Pitch |
| Apr 13, 2026 | Fund Letters | Voss Value Offshore Fund | Mercedes-Benz Group AG | Consumer Discretionary | Automobile Manufacturers | Bull | OTC | autonomous vehicles, capital return, defensive, dividend yield, Luxury Automotive, Share Buybacks, Technology leader, Value | View Pitch |
| Apr 13, 2026 | Fund Letters | Voss Value Fund | Mercedes-Benz Group AG | Consumer Discretionary | Automobile Manufacturers | Bull | OTC | automotive, Autonomous, capital return, Europe, Luxury, technology, Value | 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. | ||||||||