Join for free and get access to the buyside
Get insights from the world's most influential hedge fund investors direct to your inbox
- © 2025 Buyside Digest
- Privacy Policy
- Disclaimer
- Sitemap
- Terms of Service
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | Oct 6, 2025 | HalvioCapital | 12.6% | 19.3% | CPH CN, FILA IM, MCCK, NLOP | Buybacks, Japan, Pharmaceuticals, REITs, small caps | The letter emphasizes disciplined value investing in overlooked small-cap and micro-cap equities, particularly where liquidity constraints deter larger funds. It highlights opportunities driven by balance sheet strength, asset backing, shareholder returns, and corporate actions such as buybacks, dividends, spin-offs, and wind-downs. Value is framed as resilient even in frothy markets, as downside protection and cash flow ultimately anchor long-term returns. | 8841 JP 9478 JP MCCK US NLOP US CPH CN |
View |
| 2025 Q4 | Jan 7, 2026 | HalvioCapital | 5.6% | 0.0% | BKM.SI, CPH.TO, EDU.AX, FILA.MI, LNF.TO, MCCK, MYX.AX, NLOP | international, Japan, Merger Arbitrage, real estate, small caps, value | Manager focuses on undervalued securities across multiple markets, highlighting companies trading below intrinsic value such as TOC Co. with real estate worth ¥184B against ¥75B market cap, and FILA trading at attractive enterprise value multiples. The approach emphasizes finding bargains in less picked-over international markets. Japan basket represents a significant holding with focus on corporate governance reforms under new Prime Minister Sanae Takaichi. Manager sees opportunity in companies with excess cash being forced to improve capital allocation, with ¥83 trillion in corporate cash providing catalyst for shareholder returns. Portfolio concentrated in smaller companies across multiple geographies including Australian micro-caps, Canadian small caps, and niche industrial businesses. Manager seeks opportunities in less efficient markets where smaller companies may be mispriced or overlooked by institutional investors. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Nov 8, 2025 | Substack | The Mikrokap | None | Industrials | Building Products & Equipment | Bull | Book Value, HVAC manufacturing, illiquid, investment opportunity, Massachusetts, net current asset value, operating results, Precious Metals, undervalued | 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. | ||||||||