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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 1, 2025 | Van Der Mandele Arar Fund | 6.2% | 8.1% | 000823.SZ, 0327.HK, 1773.HK, 6890.T, BFIT.AS, GRVY, HZO, JFIN, JXN, KEC.TO, ONEW, STLA | Cash Generation, China, deep value, Education, small caps, tariffs | Strong performance from Chinese holdings including Pax Global (+42%) and Ferrotec (+37%) following Xi's domestic consumption boost ambitions. New position in YuHua Education reflects deep value opportunity in devastated private education sector trading at 5x earnings despite regulatory overhang from potential Fifth Plenum reforms. | 1969.HK 6169 HK |
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| 2024 Q1 | Apr 19, 2024 | Van Der Mandele Arar Fund | -5.9% | 0.5% | AWE.L, BFIT.AS, JXN, ONEW, PLNT, STLA | energy, Europe, Fitness, industrials, small caps, value | Basic Fit faces competitive pressures from Planet Fitness entering Spain and pricing challenges with 20 euro memberships returning in France. The company is slowing expansion pace from 200 to 175 clubs annually, indicating market saturation concerns. Despite 40% year-over-year decline, the manager sees opportunity in improved cash flows as mature clubs increase. | BFIT.AS |
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| 2025 Q4 | Feb 3, 2026 | Van Der Mandele Arar Fund | 11.7% | 0.0% | 000660.KS, BFIT.AS, GRVY, IMB.L, JXN, ONEW, STLA, XLY.TO | Cannabis, gaming, Gold Miners, semiconductors, tariffs, Trump, value | Gold miners comprise 21% of portfolio and appreciated 30% as gold rose 17%. Manager continues adding despite 50% gold price appreciation, citing strong production growth and attractive valuations relative to earnings potential. SK Hynix benefits from chip shortages in graphics processors, with 70-100% price hikes in a cyclical market. Company is one of three prominent producers of frontier chips alongside TSMC and Samsung. Gravity produces bestsellers in home markets and benefits from activist pressure on controlling shareholder GungHo Entertainment to increase dividends from Gravity's large cash reserves. | JXN GRVY 000660 KS XLY CN |
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| 2024 Q3 | Oct 4, 2024 | Van Der Mandele Arar Fund | -5.9% | 0.5% | 066570.KS, BFIT.AS, JXN, NMM, ONEW, PYFA.TO, STLA | cyclicals, gaming, global, shipping, small caps, value | Gravity is a gaming company with a large cash pile, low P/E, and beautiful IP in their Ragnarok franchise. The key catalyst is rollout of games into China through local distributors, though initial revenue contribution was disappointing as Gravity gave away larger profit percentages to incentivize distributors. | NMM |
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| 2024 Q4 | Jan 3, 2025 | Van Der Mandele Arar Fund | - | - | 096350.KS, 327A.HK, AWE.L, BFIT, CFW.TO, DAC, DRAG.DE, GOOGL, IMPP, JFIN, JXN, KWE.TO, NM, ONEW, PAY.TO, STLA | AI, Mag-7, Net-Net, P/E Ratios, shipping, small caps, Valuations, value | Manager focuses extensively on value investing, holding stocks with P/E ratios under 5 while the S&P 500 trades at 30x earnings. Portfolio includes net-net stocks with more cash than market cap plus debt, and companies trading below book value with strong balance sheets. | View | |
| 2023 Q4 | Aug 2, 2024 | Van Der Mandele Arar Fund | -5.9% | 0.5% | AAPL, ALOKW.PA, AMZN, AWE.L, BFIT.AS, GOOGL, JXN, META, MSFT, NVDA, ONEW, STLA, TSLA | AI, Europe, growth, small caps, Solar, technology, value | Fund discusses AI/datacenter boom as a major growth driver for portfolio company Alphawave, which is positioned to benefit enormously from this trend. The manager notes Alphawave continues to grow exponentially and is positioned for the upcoming AI/datacenter boom despite trading at attractive valuations. | ALOKW.PA ONEW AWE.L |
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| 2023 Q2 | Jul 8, 2023 | Van Der Mandele Arar Fund | -5.9% | 0.5% | AWE.L, BFIT.AS, GASS, JXN, KEC.TO, MHO, ONEW, STLA | cyclicals, earnings, Europe, oil, value | Manager holds multiple oil companies including Kiwetinohk Energy Corp as a top 5 position. Discusses how shale companies now trade at very low P/E ratios despite improved balance sheets and more conservative management. Views ESG concerns as creating opportunities in undervalued energy names. | KEC.TO |
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| 2023 Q3 | Apr 10, 2023 | Van Der Mandele Arar Fund | -5.9% | 0.5% | AWE.L, BFIT.AS, ESTE, IFP.TO, JXN, ONEW, PR, STLA | Autos, energy, Europe, rates, semiconductors, small caps, value | Manager emphasizes finding stocks with low P/E ratios and attractive balance sheets, particularly in the value segment of the market. Stellantis highlighted as trading at P/E under 3 despite solid fundamentals. | STLA |
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| 2023 Q1 | Apr 4, 2023 | Van Der Mandele Arar Fund | -5.9% | 0.5% | AWE.L, BFIT.AS, GOOGL, JXN, KEC.TO, ONEW | cyclicals, energy, Europe, small caps, value | The fund shows significant skew towards small-caps, which aligns with the theory that smaller companies are less looked at and tend to provide more opportunity. The manager notes this positioning is not due to bias since around 50% of all listed stocks are small-caps. | AWE.L |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Van Der Mandele Arar Fund | OneWater Marine Inc | Consumer Discretionary | Specialty Retail | Bull | NASDAQ | Acquisitions, Buy and Build, Consumer Discretionary, Inventory, Luxury, Marine, retail, US | 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. | ||||||||