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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 15, 2025 | White Brook Capital | - | - | AMZN, GOOGL, INFU, JAKK, META, MSTR, NVDA, PAYS, RPID | AI, crypto, defense, Ethics, Housing, small caps, SPACs, Strategy | SPACs are returning to market as a sign of mania, similar to 2021 when they led to tremendous short-term returns for sponsors but typical SPACs fell over 90% long-term. This represents a concerning market trend pushing extremes. | View | |
| 2025 Q1 | Apr 30, 2025 | Minot Light Capital Partners | -11.5% | -11.5% | CYRX, DAVE, DERM, GRPN, MRVI, OM, REAL, RPID, TDUP, W | Biotechnology, consumer, growth, healthcare, Microcap, small caps, value, volatility | The fund focuses on small and microcap growth stocks with high-beta characteristics. Market corrections provide opportunities to purchase premier growers at reasonable valuations when they become expensive during benign environments. | CYRX |
View |
| 2026 Q1 | Apr 22, 2026 | White Brook Capital | - | - | ICLR, PESI, RPID, SMTI, SPGI | AI, energy, healthcare, inflation, small caps, value | RPID SMTI SPGI PESI ICLR |
View | |
| 2025 Q3 | Oct 16, 2025 | White Brook Capital | - | - | AMS, BLDR, BOF, CCLDO, CVEO, FND, GOOG, INFU, JAKK, MSFT, NVDA, PAYS, PTLO, QIPT, RGTI, RPID, TGT, TSM, TTSH | AI, Bubble, cash flow, growth, Homebuilders, small caps, value | Manager views AI spending as creating a bubble with mixture of substance and hype. Compares to fiber optic cable overinvestment but notes silicon processors have much shorter lifespans. Sees problematic warrant and share issuances in AI ecosystem deals. | TGT US PTLO US |
View |
| 2025 Q4 | Jan 31, 2026 | White Brook Capital | 0.0% | 0.0% | BLDR, FND, GOOG, JAKK, MSFT, MSTR, NVDA, PTLO, RPID, TSM | AI, crypto, growth, healthcare, inflation, semiconductors, small caps, value | The efficacy of AI expenditures started to be questioned during Q4 2025. Companies like Microsoft continue spending aggressively on cloud capacity, but value is now considered in customer context. The increasing competence of AI in performing tasks has begun impacting the software as a service sector, creating temporary losers in what was once an all-winners environment. Bitcoin treasury companies represent an ongoing investor mania that appears to be ending. These companies that turn bitcoin into stocks now trade meaningfully below the value of their bitcoin reserves, having broken the buck. They are trapped, unable to sell bitcoin to buy back shares or sell stock to buy bitcoin without driving down prices. The Small Cap Absolute Growth Strategy vastly exceeded expectations in 2025. Small and micro cap stocks offer potential for high returns for diligent, patient, and active investors. The strategy is concentrated in healthcare sector with 8 of the positions in healthcare, particularly technology, equipment, and tools industries. The manager owns Nvidia Corp and Taiwan Semiconductor Manufacturing Corporation as best in class operators in the process of realizing a double, based on earnings growth due to their ability to extract the last of the rents from the artificial intelligence investment wave. | View | |
| 2024 Q4 | Jan 27, 2025 | White Brook Capital | - | - | AFYA, BLDR, BOX, DNUT, GBX, GPRE, INFU, KAR, LTH, MOS, OKTA, PTLO, RPID, W | Brazil, Fertilizers, Food, healthcare, Housing, mid cap, technology, value | Two portfolio companies have significant Brazilian operations affected by currency devaluation of over 25% in 2024. Brazilian government passed fiscal measures reducing spending in late 2024, and currency pressures have abated. The manager expects significant returns if Brazil's currency stabilizes or improves versus the dollar. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 26, 2026 | Fund Letters | White Brook Capital | Rapid Micro Biosystems | Medical Devices | Life Sciences Tools & Services | Bull | NASDAQ | Amgen, biotechnology, Laboratory Equipment, life sciences, Merck, Microbial Detection, pharmaceutical manufacturing, Samsung Biologics, small-cap | View Pitch |
| Jan 23, 2026 | Twitter / X | @Borlaug_ | Rapid Micro Biosystems, Inc. | Health Care Services | Health Care Equipment | Bull | NASDAQ | Above, biologics, Consensus, gene therapy, Gross, Micro, Payments, Rev | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Lighting Rock Research | Rapid Micro Biosystems | Health Care | Medical Devices | Bull | NASDAQ | — | 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. | ||||||||