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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 21, 2025 | Legacy Ridge Capital | - | -1.7% | PII | Balance Sheets, cash flow, dispersion, Intrinsic Value, value | The letter focuses on value investing in underappreciated companies trading below intrinsic worth. Management highlights balance sheet strength, cash flow durability, and conservative capital allocation as key differentiators. The environment is described as favorable for value as growth multiples remain elevated and dispersion increases. | PII |
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| 2025 Q1 | Apr 25, 2025 | SouthernSun Small Cap | -11.5% | -11.5% | BOOT, EPAC, EXTR, LOB, MOD, PII, TKR | - | View | ||
| 2025 Q1 | Apr 25, 2025 | SouthernSun SMID Cap | -8.8% | -8.8% | BOOT, BR, MOD, PII, USPH, WSO | - | View | ||
| 2025 Q4 | Jan 30, 2026 | Legacy Ridge Capital | 0.0% | 7.0% | AAPL, AMZN, GOOGL, KRP, META, MNR, MSFT, NVDA, PII, PLTR, TSLA | Capital Allocation, Cash, dividends, energy, Exploration & Production, value | Fund maintains 30% cash position as defensive measure against expensive market valuations. Cash provides optionality for opportunistic deployment when attractive opportunities arise. Management views current cash levels as necessary given stretched valuations across broader markets. Portfolio focused on dividend-paying companies with 6% yield, emphasizing businesses that return excess cash to shareholders. Key holdings KRP and MNR have dividend policies returning 75% and over 50% of cash flow respectively. Dividend income provides steady cash flow for redeployment opportunities. Significant allocation to energy sector through Mach Natural Resources and Kimbell Royalty Partners. Focus on companies with disciplined capital allocation, low leverage, and high distribution yields. Both companies emphasize acquiring cash-flowing assets and returning capital to shareholders. Investment philosophy centered on buying businesses at discounts to intrinsic value based on discounted cash flows. Contrasts current approach with expensive growth stocks trading at extreme valuations. Emphasizes margin of safety and business owner mentality in stock selection. | MNR |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 8, 2026 | Fund Letters | Kris Kelley | Polaris Inc. | Consumer Discretionary | Leisure Products | Bull | New York Stock Exchange | buybacks, capital allocation, Powersports, Sum-of-the-Parts, turnaround | View Pitch |
| Aug 13, 2025 | Seeking Alpha | The Payout Desk | Polaris Inc. | Consumer Discretionary | Recreational Vehicles | Bull | NYSE | — | 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. | ||||||||