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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q1 | Apr 17, 2025 | Fairlight Alpha Fund | 18.7% | 18.7% | GBR.AX, MCB.TO, MNM.TO, MSFT, NVDA, ODY.AX, SRB.L, TSLA, VLE.TO | AI, defense, energy, gold, tariffs, value, volatility | Gold prices rose significantly to $3,341 per ounce, driving strong performance in junior gold mining positions. Monument Mining and Serabi Gold appreciated 60.7% and 43.3% respectively, benefiting from higher gold prices, increased production efficiency, and higher ore grades. These businesses generate substantial cash flow at current gold prices with large margins of safety. | VLE.TO MMY.AX SBGL.L |
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| 2024 Q3 | Nov 6, 2024 | Fairlight Alpha Fund | -13.0% | 14.1% | ALLOG.PA, CZBS, MCB.TO, MMY.V, SRB.L | commodities, global, gold, Mining, small caps, value | Gold has risen 134% over eight years with acceleration in the last two. Junior gold miners have underreacted to this price appreciation, creating significant opportunities. The manager views gold miners as having call option-like characteristics with theoretically unlimited upside as gold prices rise. | ALLOG.PA SRB.L MMY.V MCB.TO |
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| 2023 Q4 | Jan 27, 2024 | Fairlight Alpha Fund | -13.0% | 14.1% | CZBS, MCB.TO, MFBP | Automation, Community Banks, growth, small caps, technology, value | ECIP banks like Citizens Bancshares and M&F Bancorp are leveraging preferred stock as AT1 capital to double their balance sheets. These banks are priced around 5x earnings despite having growth ahead and extremely high capital adequacy levels, with CZBS reporting 19% CET1 ratio. | MCB.TO MFBP CZBS |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Fairlight Alpha Fund | McCoy Global Inc. | Energy | Oil & Gas Equipment & Services | Bull | TSX | Automation, Canada, capital allocation, Drilling Technology, Energy Services, Oil & Gas Equipment, Safety Technology, Sensor Technology | View Pitch |
| Apr 13, 2026 | Fund Letters | Fairlight Alpha Fund | McCoy Global | Energy | Oil & Gas Equipment & Services | Bull | Toronto Stock Exchange | Canada, Data Analytics, Drilling Technology, Energy Services, Hardware, innovation, Oil & Gas Equipment, SaaS | View Pitch |
| Jan 22, 2026 | Twitter / X | @WelfareCapLLC | McCoy Global Inc. | Energy | Oil & Gas Equipment & Services | Bull | Toronto Stock Exchange | Automation, Canada, Casing Running, First Complete, Mccoy, oilfield services, SaaS, Suite | 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. | ||||||||