PSHZF

PSHZF

PSHZF

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 18, 2025	Seven Corners Capital	-	11.0%	ACT, CART, COOP, GNW, HHH, PSHZF, RFIN, RKT, SD, TPB	Compounding, concentrated, discount, energy, financials, technology, value	Turning Point Brands benefits from steady, high-quality compounding business model via Zig-Zag and Stoker's brands, which should benefit from tailwind in long-term decline of traditional cigarettes. Stoker's FRE brand of smokeless tobacco is growing at extremely high rate with Modern Oral sales up nearly 10-times versus prior year.	RKT SD CART GNW TPB PSHZF	View
2024 Q1	Apr 15, 2024	Seven Corners Capital	14.0%	0.0%	ACT, GNW, PSHZF, RKT, SD, TPB	activism, discount, energy, financials, Tobacco, value	The fund maintains a significant energy position in Sandridge Energy, betting on secular decline in O&G drilling combined with inflation revival supporting carbon-based energy prices. The thesis is that if you own O&G assets, then ESG is your friend. The company has cut unnecessary expenses to the bone and maximized free cash flow conversion.	RKT SD TPB GNW PSHZF	View
2024 Q4	Dec 31, 2024	Seven Corners Capital	-	17.0%	ACT, CART, GNW, HHH, PSHZF, SD, TPB	activism, discount, energy, NAV, value	Portfolio focuses on companies trading at discounts to intrinsic value, including NAV discounts and sum-of-the-parts situations. Multiple holdings trade below their fundamental worth based on asset values.	CART SD GNW TPB PSHZF	View
2023 Q4	Dec 1, 2024	Seven Corners Capital	14.0%	0.0%	ACT, GNW, HHC, MACK, PSHZF, SD	activism, discount, energy, Pharmaceuticals, value	Portfolio consists of discount-to-sum-of-parts plays including PSHZF trading at 29% discount to NAV, GNW trading at discount to its 81.6% ACT stake value, and MACK as classic uncorrelated sum-of-parts opportunity. These positions are viewed as theoretically independent of overall market movements.	AAVE-USD MACK GNW PSHZF	View
2024 Q3	Nov 1, 2024	Seven Corners Capital	14.0%	0.0%	ACT, GNW, PSHZF, RKT, SD, TPB	Concentration, Discounts, energy, Mortgage, value	The portfolio demonstrates classic value investing principles through concentrated positions in companies trading at significant discounts to intrinsic value. Examples include Genworth Financial trading at a discount to its Enact Holdings stake and Pershing Square Holdings trading at a 31% discount to NAV. The manager seeks to unlock value through corporate actions and discount closures.	SD RKT TPB GNW PSHZF	View
2025 Q4	Jan 18, 2026	Seven Corners Capital	0.0%	35.0%	ACT, CART, GNW, HHH, PSHZF, RKT, SD, TPB	concentrated, discount, energy, Mortgage, NAV, Tobacco, value	The portfolio demonstrates a value investing approach with concentrated positions in companies trading at discounts to intrinsic value. Holdings like PSHZF trade at significant discounts to NAV, while GNW trades at a discount to its sum-of-the-parts valuation. Turning Point Brands represents a significant position focused on smokeless tobacco products including Zig-Zag and Stoker's brands. The company's Modern Oral segment grew 627.6% year-over-year, with the FRE brand showing extremely high growth rates. Multiple holdings have mortgage exposure including Genworth Financial through its 80% ownership of Enact Holdings (private mortgage insurance) and Rocket Companies' mortgage origination and servicing business following acquisitions of Redfin and Mr Cooper. Sandridge Energy represents the largest energy holding, positioned for potential oil and natural gas price recovery. The thesis centers on secular decline in drilling combined with inflation supporting carbon-based energy prices going forward.	RKT SD CART GNW TPB PSHZF	View
2024 Q2	Jun 30, 2024	Seven Corners Capital	14.0%	0.0%	ACT, GNW, PSHZF, RKT, SD, TPB	activism, Buybacks, Discounts, energy, financials, value	Multiple portfolio companies are actively repurchasing shares. Pershing Square Holdings continues to repurchase shares under its repo program. Genworth Financial has been actively repurchasing its stock in recent quarters.	RKT SD TPB GNW PSHZF	View
2023 Q1	Mar 31, 2023	East72 Holdings	6.3%	0.0%	0001.HK, 2074.SZ, 8TRA.DE, AML.L, BAIN.PA, BOL.PA, CFR.SW, EXO.MI, GOOGL, IVG.MI, IWG.L, LBRDK, LIF.TO, MC.PA, MFG.AX, MSGS, NWSA, P911.DE, PAH3.DE, PSHZF, QS, RACE, UHR.SW, VIV.PA, VOW3.DE	Autos, Battery, Dynasties, Europe, gaming, IPO, Luxury, value	The fund invests in luxury companies with dynastic control, including SBM (Monaco's luxury gaming and hospitality), Richemont, and Swatch Group. These companies benefit from the ultra-rich demographic and have pricing power. The manager views luxury as a defensive growth sector with strong moats.	VOW3.DE BAIN.PA	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	Seven Corners Capital	Pershing Square Holdings	Financials	Asset Management & Custody Banks	Bull	Euronext Amsterdam	asset management, Berkshire Model, Bill Ackman, closed-end fund, Corporate Restructuring, Hedge Fund, NAV discount, value unlock	View Pitch
Apr 13, 2026	Fund Letters	Seven Corners Capital	Pershing Square Holdings	Financials	Asset Management & Custody Banks	Bull	Euronext Amsterdam	asset management, closed-end fund, Fee Reduction, Hedge Fund, NAV discount, Structural changes, Value	View Pitch
Apr 13, 2026	Fund Letters	Seven Corners Capital	Pershing Square Holdings	Financials	Asset Management & Custody Banks	Bull	Euronext Amsterdam	activist, asset management, closed-end fund, Hedge Fund, NAV discount, Value	View Pitch
Apr 13, 2026	Fund Letters	Seven Corners Capital	Pershing Square Holdings	Financials	Asset Management & Custody Banks	Bull	Euronext Amsterdam	arbitrage, asset management, closed-end fund, concentrated portfolio, Fee Reduction, Hedge Fund, NAV discount	View Pitch
Apr 13, 2026	Fund Letters	Seven Corners Capital	Pershing Square Holdings	Financials	Asset Management & Custody Banks	Bull	Euronext Amsterdam	activist, asset management, Berkshire Model, closed-end fund, Hedge Fund, holding company, NAV discount, Value	View Pitch
Jan 21, 2026	Fund Letters	Scott Klarquist	Pershing Square Holdings, Ltd.	Financials	Asset Management	Bull	Euronext Stock Exchange	activist, Alignment, buybacks, capital allocation, NAV discount	View Pitch
Jan 8, 2026	Fund Letters	Scott Klarquist	Pershing Square Holdings Ltd.	Financials	Closed-End Funds	Bull	Euronext Stock Exchange	Activism, Capitalallocation, Closedend, discount, rerating	View Pitch

BSD Shareholders of PSHZF

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

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.

Join for free and get access to the buyside

Get insights from the world's most influential hedge fund investors direct to your inbox

Follow Us On: