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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Aug 27, 2024 | McElvaine Value Fund | - | -0.2% | CKHUY, FFH.TO, JMHLY, MDORF, MXG.TO, ONEX.TO, PSK.TO, SEG, XCO | Canada, contrarian, dividends, Natural Gas, royalties, small caps, value | Manager focuses on buying discounted assets at 50 cents on the dollar, particularly holding companies trading below net asset value. Portfolio consists of orphans and misfits bought when others were selling, with emphasis on finding cheap stocks with aligned owners. | SEG PSK.TO ONEX.TO MOIL.L XCO MXG.TO |
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| 2023 Q2 | Aug 23, 2023 | McElvaine Value Fund | - | 5.1% | 1.HK, BLCO, MXG.TO, ONEX.TO, PSK.TO, WBD | Canada, Cautious, Hedge, small cap, value | The fund holds Maxim Power which is commissioning a Combined Cycle Gas Turbine expansion expected to be operational by late fall. PrairieSky had strong performance with oil royalty production and leasing activity hitting multi-year highs. | View | |
| 2025 Q2 | Aug 21, 2025 | McElvaine Value Fund | - | -4.0% | AIM.TO, CFP.TO, FIH.TO, GUD.TO, HHH, J36.SI, M04.L, MXG.TO, ONEX.TO, PSK.TO, WINT, XCO | Canada, discount, energy, NAV, private equity, small cap, value | Manager emphasizes sticking with the 'dregs of value' approach, focusing on cheap reasonably financed companies with aligned owner/operators. All holdings are trading at significant discounts to NAV with strong balance sheets and insider ownership. | GUD CN MPX CN AIM CN ONEX CN CFP CN HHH FIH CN PSK CN |
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| 2023 Q4 | Dec 31, 2023 | McElvaine Value Fund | - | 3.0% | 0001.HK, BLCO, FIH.TO, J36.SI, MXG.TO, ONEX.TO, PSK.TO, WBD, XCO | Canada, Concentration, discount, Intrinsic Value, small caps, value | Manager focuses on finding 50 cent dollars through his ABBA framework, seeking companies selling below intrinsic value. Emphasizes that intrinsic value is a range supported on the downside and open-ended on the upside, preferring straightforward estimates over complex models. Current holdings are viewed as trading at significant discounts to estimated 3-5 year intrinsic values. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | McElvaine Value Fund | Maxim Power Corp | Utilities | Independent Power and Renewable Electricity Producers | Bull | TSX | Alberta, Free Cash Flow, natural gas, Power generation, utilities, 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. | ||||||||