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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 9, 2025 | Liberty Park Capital Management | 1.4% | -2.2% | AUR, BELFB, BLN, COMP, HQI, IONQ, LAKE, LBRT, LMB, NSSC, NVEE, NWL, QBTS, QUBT, SKY, SWIM, TTEK, WHR, WNC, XMTR | consumer, Long/Short, Manufacturing, Quantum, small cap, tariffs, technology, value | Nicotine pouches are disrupting traditional tobacco products with safer alternatives that have no known carcinogens. The US market grew over 40% in Q1 2025, with nicotine pouches expected to increase from 5% of global nicotine users in 2024 to 11% in 2030. Online penetration remains low at 3% in the US versus 35% in mature markets like Sweden. | HAYPP.ST LAKE SKY NSSC XMTR |
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| 2025 Q1 | Apr 17, 2025 | Liberty Park Capital Management | -3.5% | -3.5% | AUR, BKTI, BLN, INOD, LBRT, LESL, LMB, MTN, NSSC, RGTI, SEI, SOUN, STKL, SWIM, THRY, TITN, TTEK, VSEC, WNC, XMTR | Long/Short, security, small caps, tariffs, Trade Policy | President Trump announced minimum tariffs on all imports of 10%, plus reciprocal tariffs starting at another 10% and rising above 100% for trade abusers such as China. The manager believes the worst-case scenario of universal >50% tariffs is unlikely because global trade would cease and would enter a Great Depression. Some tariffs will likely remain permanent, and the tariff announcements significantly damaged confidence and predictability. | NSSC |
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| 2025 Q3 | Oct 8, 2025 | Liberty Park Capital Management | 1.1% | -1.1% | BKTI, LMB, NSSC, WHR, XMTR | AI, Bubble, Long/Short, rates, small caps, Speculation, technology | Manager notes that artificial intelligence will improve productivity going forward, but warns of speculation and bubble conditions in AI-related stocks. Many unprofitable companies are claiming AI exposure to pump their stocks similar to the dot-com bubble. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Liberty Park Capital Management | Napco Security Technologies, Inc | Technology Hardware & Equipment | Electronic Equipment, Instruments & Components | Bull | NASDAQ | Access Control, Cellular Radios, Fire alarms, Fortress Balance Sheet, High Margin Services, POTS Replacement, recurring revenue, Retrofit Demand, Security Systems, Technology Transition | View Pitch |
| Jan 8, 2026 | Fund Letters | Charles P. Murphy | Napco Security Technologies, Inc. | Industrials | Security Systems | Bull | NASDAQ | Margins, Recurringrevenue, Security, services, tariffs | View Pitch |
| Oct 6, 2025 | Value Investors Club | SherloxAM | NAPCO Security Technologies, Inc. | Industrials | Electronic Equipment, Instruments & Components | — | NASDAQ | recurring revenue, fire radios, POTs replacement, nearshoring, destocking, buybacks, tariff-resilient | View Pitch |
| Sep 16, 2025 | Short Thesis | Fuzzy Panda | Napco Security Technologies In | Industrials | Building Products (Security & Safety Equipment) | Bear | NASDAQ | Cyclical, Fire alarms, Margins, Security, valuation | 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 |
|---|---|---|---|---|---|---|---|---|
| Terry Smith | Fundsmith | $17.1B | $74.2M | 0.43% | 1,779,857 | +824,945 | +86.39% | 4.7775% |
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $8.4M | 0.02% | 200,489 | +22,065 | +12.37% | 0.5382% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $10.8M | 0.01% | 257,840 | +130,599 | +102.64% | 0.6921% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $838,045 | 0.00% | 20,097 | -17,136 | -46.02% | 0.0539% |
| Israel Englander | Millennium Management LLC | $233.2B | $3.1M | 0.00% | 73,487 | -49,311 | -40.16% | 0.1973% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $1.1M | 0.00% | 26,600 | +12,569 | +89.58% | 0.0714% |
| Cliff Asness | AQR Capital Management | $190.6B | $12.4M | 0.01% | 297,027 | -34,479 | -10.40% | 0.7973% |
| Mario Gabelli | GAMCO Investors | $10.4B | $7.9M | 0.08% | 188,400 | -9,600 | -4.85% | 0.5057% |
| Rich Handler | Jefferies | $19.3B | $249,449 | 0.00% | 5,982 | +5,982 | +100.00% | 0.0161% |