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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2026 Q1 | Apr 16, 2026 | Fairlight Global Small & Mid Cap Fund | -14.2% | -14.2% | DPLM.L, FERG, G24.DE, HLMA.L, MEDP, RAA.DE, REC.MI, SCT.L, SPX.L | Distribution, global, healthcare, industrials, Quality, small cap, technology | View | ||
| 2025 Q4 | Jan 20, 2026 | Fairlight Global Small & Mid Cap Fund | 0.0% | -7.9% | CPRT, DPLM.L, FDS, G24.DE, HLMA.L, IDXX, IT, MEDP, REC.MI, ULTA | AI, global, healthcare, Quality, small caps, technology, underperformance | Several portfolio companies experienced sharp multiple contractions due to perceived higher risk of disintermediation from expected widespread adoption of Generative Artificial Intelligence. The manager estimates this was an 8% hit to returns, though believes the extent of recent derating is excessive given companies' successful track records of defending market leadership. The fund focuses exclusively on high-quality businesses with demonstrable track records of earning outsized returns on capital, stable management teams, conservative balance sheets, and avoiding single points of failure. Portfolio companies collectively grew revenues by 6% and EPS by 9% in 2025 despite challenging conditions. Healthcare represents 13% of portfolio exposure with holdings like IDEXX Laboratories in companion animal diagnostics and Medpace in clinical research. These companies benefit from recurring revenue models, market share gains, and structural industry growth tailwinds supporting improved diagnosis and drug development. | IT |
View |
| 2023 Q3 | Sep 30, 2023 | Rondure New World Fund | -1.3% | -1.3% | 0388.HK, 0700.HK, 2330.TW, 2331.HK, 9142.T, BBRI.JK, FPT.VN, GMXT.MX, GRGS.L, HDFCBANK.NS, KOF.MX, PUM.DE, PXT.TO, REC.MI, TCS.NS, YUMC | China, Currency, emerging markets, interest rates, international, Japan, small caps, value | The fund is overweight small-cap stocks which have been a challenging place to invest, especially as declining liquidity is more acute for smaller companies. Small caps have underperformed significantly versus large caps this quarter and year-to-date, creating a drag on performance but potentially better opportunities for active investors. | View | |
| 2023 Q3 | Sep 30, 2023 | Rondure Overseas Fund | -5.8% | -4.8% | 0388.HK, 0700.HK, 2330.TW, 2331.HK, 9142.T, ALTEN.PA, BBRI.JK, FPT.VN, GMXT.MX, GRG.L, HDFCBANK.NS, KOF.MX, PUM.DE, PXT.TO, REC.MI, TCS.NS, YUMC | China, Currency, emerging markets, international, rates, small caps, value | The fund is overweight small-cap stocks which have been a challenging place to invest since inception, especially now as declining liquidity is more acute for smaller companies. Small caps have underperformed significantly this year relative to large caps, creating a drag on performance but potentially better opportunities for active investors. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| 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. | ||||||||