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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2021 Q1 | Apr 1, 2021 | Palm Valley Capital Management | 3.6% | 3.6% | BCEI, CRD/A, CRI, DOX, GENC, GME, HP, PHYS, PSLV, PTVCB, PVCMX, SCHL, SLV, SSRM, SYKE, T, WHGLY | Bubble, Cash, Defensive, inflation, Precious Metals, small caps, Speculation, value | WHGLY CRI SSRM PHYS |
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| 2020 Q4 | Dec 31, 2020 | Rozendal Global Fund | - | 0.0% | AMZN, BAYRY, CCJ, SLV | growth, Mining, Precious Metals, small cap, South Africa, SPACs, technology, value | BAYRY CCJ |
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| 2025 Q4 | Jan 29, 2026 | Rozendal Global Fund | 0.0% | 42.8% | 6586.T, AENA.MC, AMS.JO, BAYRY, BLU.JO, CGR.JO, COH.JO, DEO, HAR.JO, JD, KSPI.L, MTN.JO, SLV, TBS.JO, YRK.JO | emerging markets, Europe, gold, long-term, materials, Precious Metals, trade war, value | Materials sector experienced sharp turnaround in 2025 with 32.3% returns, driven by unstoppable gold price and precious metals boom. Platinum group metals prices materially higher than incentive prices after years of low investment. Gold reached unprecedented inflation-adjusted levels, driven by geopolitical concerns, government debt fears, and record central bank purchases. Currently trading at all-time highs versus copper and production costs, appearing extraordinarily expensive on long-term value measures. 2025 marked the launch of the greatest trade war in modern times, yet global equity markets still delivered strong returns around 20%, demonstrating short-term market unpredictability despite major policy disruptions. Bayer showed positive developments with new drug sales growing strongly and favorable litigation judgments in agriculture business. Patent cliff concerns in pharmaceutical business showed improvement with pipeline developments. JD.com faced challenges from heavy investment in new food delivery venture competing against well-capitalized incumbents like Meituan and Alibaba. Core retail business showed strong revenue and profitability growth despite share price decline. | BAYN GR |
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| 2025 Q4 | Jan 29, 2026 | Rozendal Worldwide Flexible Prescient Qualified Investor Hedge Fund | 0.0% | 21.7% | 6586.T, AENA.MC, AMS.JO, BAYN.DE, BLU.JO, CGR.JO, COH.JO, DGE.L, HAR.JO, JD, KSPI.L, MTN.JO, SLV, TBS.JO, YRK.JO | gold, Long/Short, materials, Mining, Precious Metals, South Africa, value | Gold has reached unprecedented inflation-adjusted levels and appears extraordinarily expensive relative to historical measures. The manager believes there is a fair price for every asset including gold, and current prices don't make sense despite gold's value as an alternative currency and tail risk hedge. The precious metals sector experienced dramatic outperformance in 2025, with the FTSE/JSE Precious Metals and Mining index more than tripling. This was the primary driver of South African equity market returns and the main reason for the Hedge Fund's underperformance relative to its benchmark. The Materials sector experienced a sharp turnaround in 2025 with 32.3% returns, fueled by the unstoppable gold price. This represented diametrically opposite fortunes compared to the preceding decade when Materials underperformed significantly. The manager's investment philosophy centers on exploiting myopia through long-term value investing. Research shows stocks with less shareholder turnover deliver excess returns, particularly those uncomfortable for myopic shareholders to hold due to volatility or poor recent performance. | 6586 JP AENA SM TBS SJ |
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| 2020 Q4 | Jan 26, 2021 | Rozendal Partners | - | 0.0% | AFT.JO, BAYRY, BLU.JO, CCJ, GEM.L, HCI.JO, IVT.JO, QFH.JO, SLV, TGO.JO | Corporate Actions, Mining, Precious Metals, small cap, South Africa, takeovers, value | BAYN.DE CCJ |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jun 5, 2026 | Substack | Toff Cap Monday Monitor | Selvita | Biotechnology | Pharmaceuticals | Bull | Warsaw Stock Exchange | biotechnology, divestiture, drug development, Drug Discovery, growth, rerating, Selvita, strategic review, value unlock | View Pitch |
| Oct 21, 2025 | Value Investors Club | Smarkeu | iShares Silver Trust | Other | Precious Metals | Bull | NYSE | Commodities, Gold-silver ratio, Precious Metals, Silver | View Pitch |
| Aug 8, 2025 | Seeking Alpha | Andrew Hecht | iShares Silver Trust ETF | Other | - | Bull | NYSEARCA | — | 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. | ||||||||