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 Q2 | Sep 10, 2025 | Bonhoeffer Capital Management | 8.7% | - | ART SJ, ARW, BLDR, FFBB, NBN, TIGO, UBAB | Balance Sheets, contrarian, Mean reversion, normalization, valuation | The commentary focuses on deep value opportunities driven by mean reversion, balance sheet repair, and normalized earnings power. Management stresses disciplined valuation work and patience through cycles to unlock long-term returns. The environment is viewed as favorable for contrarian investors as dispersion remains elevated. | View | |
| 2025 Q1 | May 19, 2025 | Hinde Group | -0.9% | -0.9% | GOOG, IBKR, NBN, UBER | - | View | ||
| 2023 Q1 | May 11, 2023 | Hinde Group | 10.9% | 10.9% | IBKR, NBN | Balance Sheet Strength, Banking Stress, Financial Resilience, Interest Rate Risk, Quality Compounders | The letter analyzes the March 2023 banking crisis, arguing it was a predictable consequence of rapid rate hikes exposing duration and deposit risks rather than a systemic solvency issue. Portfolio performance outperformed despite volatility, with Northeast Bank temporarily pressured while platform businesses like Uber, Alphabet, and Interactive Brokers demonstrated resilience. The manager emphasizes balance-sheet strength, conservative underwriting, and long-duration intrinsic value as key defenses during financial stress. | NBN IBKR |
View |
| 2025 Q4 | Feb 13, 2026 | Hinde Group | -4.0% | 29.5% | BDX, GOOG, IBKR, NBN, NFLX, UBER | AI, Brokerage, Compounding, growth, technology, value | The AI investment boom continues to be an important source of strength for the U.S. economy. Big Tech companies announced plans to spend more than $660 billion on capital expenditures in 2026, mostly for AI chips and data centers, up almost 80% from 2025. The AI investment boom stimulates economic growth through both direct impact of AI-related investments and the wealth effect of soaring values for public and private AI-related equities. Interactive Brokers delivered stellar operating results with total customer accounts and customer equity growing 32% and 37% respectively. Commission revenue grew 26% and net interest income grew 13.2% despite multiple Fed rate cuts. Higher market volatility typically drives increased trading activity among IB's customers, with the VIX averaging 18.97 for 2025. | IBKR |
View |
| 2025 Q3 | Dec 23, 2025 | Bonhoeffer Capital Management | 1.3% | - | FERREYC1 CB, FFH CN, NBN, OTOEL GA | Assets, Capex, Margins, reindustrialization, Scarcity | The letter focuses on global reindustrialization driven by supply chain localization, energy security, and capital discipline after decades of underinvestment. Higher replacement costs and scarcity of productive assets are improving returns on tangible capital. Reindustrialization creates long-duration opportunities in boring, asset-heavy businesses trading below intrinsic value. | View | |
| 2024 Q3 | Dec 15, 2024 | Bonhoeffer Capital Management | 11.3% | 0.0% | 005300 KS, NBN, NOA, TIGO | - | View | ||
| 2024 Q3 | Nov 14, 2024 | Hinde Group | 6.1% | 37.1% | NBN | - | View | ||
| 2022 Q4 | Jan 31, 2023 | Hinde Group | 3.4% | -15.5% | NBN | Equity Valuations, Financial Stress, Intrinsic Value, Long-Term Opportunity, Monetary Tightening | The annual letter reviews one of the worst years in decades for both equities and bonds, driven by the fastest Federal Reserve tightening cycle on record and collapsing valuation multiples. While near-term returns were pressured, the portfolio outperformed for the full year as intrinsic value remained well above market prices and several holdings demonstrated operational resilience. The manager argues that traditional valuation frameworks remain valid and that financial stress, credit tightening, and forced selling create some of the best opportunities to deploy capital at attractive long-term return prospects. | NBN |
View |
| 2023 Q4 | Feb 13, 2024 | Bonhoeffer Capital Management | 11.3% | 0.0% | 0N0B LN, ABG, AHT LN, ARW, AVT, BLDR, CNSL, FFBB, NBN, UBAB, VTY LN | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 21, 2026 | Fund Letters | Marc Werres | Northeast Bank | Financials | Regional Banks | Bull | NASDAQ | Accretion, Bookvalue, Crelending, Dislocation, ROE | View Pitch |
| Feb 21, 2026 | Fund Letters | Marc Werres | Northeast Bank | Financials | Regional Banks | Bull | NASDAQ | Balance Sheet Risk, commercial real estate, Deposit Insurance, floating-rate loans, regional banks | 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. | ||||||||