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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Sep 3, 2025 | Rome Capital | - | - | 1910.HK, CBOX.L, NATL, REVG, SEG, SOC | Derivatives, growth, small caps, special situations, spinoffs, turnaround, value | Manager emphasizes special situations as compelling opportunities amid market turbulence, particularly spinoffs and restructurings. The approach focuses on forced selling creating attractive entry points, though notes that multiple expansion requires strong business fundamentals beyond just the special situation setup. | 1910 HK SEG US REVG US SOC US NATL CBOX LN |
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| 2025 Q2 | Aug 7, 2025 | Greenhaven Road Capital | 14.0% | 1.0% | AAPL, ASTS, BUR, CLBT, GOOGL, KKR, LFCR, MCD, PAR, SOC, T, VZ | Litigation, oil, Pharmaceuticals, private equity, small caps, Space, Trade Policy, value | Burford Capital holds rights to multiple billion-dollar potential judgements including the YPF Argentina case worth over $16B. The fund is also short two companies facing significant litigation with potential treble damages far exceeding their market capitalizations. | ASTS PAR KKR CLBT LFCR BUR SOC |
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| 2025 Q1 | May 23, 2025 | Tourlite Capital Management | -4.6% | -4.6% | ABUS, COST, FIP, FTAI, GRAL, IMVT, NFE, OABI, ROIV, SOC, WMT | Biotech, consumer, energy, Event Driven, industrials, infrastructure, Long/Short, tariffs | The fund continues to see meaningful mispricing across select biotech companies, highlighting positions in Roivant, Arbutus, Immunovant, OmniAb, and Grail. Despite short-term volatility from macro headlines and policy developments, these companies trade at substantial discounts to intrinsic value, offering significant upside with a margin of safety over the long term. | FTAI FIP SOC |
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| 2025 Q3 | Nov 8, 2025 | Greenhaven Road Capital | -9.0% | -9.0% | ALTG, ASTS, BUR, CLBT, HGTY, KFS, KKR, LFCR, PAR, SOC | AI, Asset Management, Concentration, private credit, software, value | Manager owns software companies PAR Technologies and Cellebrite despite sector being out of favor. Software multiples have compressed 26% as AI creates uncertainty about competitive moats. However, specialized software like Cellebrite's digital forensics tools remain defensible against AI disruption. | View | |
| 2024 Q3 | Nov 10, 2024 | Greenhaven Road Capital | 15.0% | 12.0% | BUR.L, CLBT, HGTY, KKR, LFCR, LLY, NVO, PAR, SOC, XOM | Concentration, energy, healthcare, PIPE, self-help, technology, value | LifeCore is positioned to benefit from GLP-1 drug manufacturing capacity constraints. While they don't currently manufacture Ozempic or Wegovy, they are equipped to do so and management has hinted at GLP-1 conversations. Eli Lilly and Novo Nordisk are severely capacity-constrained with 41 countries where GLP drugs are approved but haven't launched due to manufacturing constraints. | View | |
| 2024 Q3 | Oct 21, 2024 | Tourlite Capital Management | 4.5% | 13.8% | ABUS, APG, FTAI, ROIV, SBUX, SOC, ULTA, WMT | aerospace, consumer, Correlation, healthcare, industrials, Long/Short, technology, volatility | FTAI Aviation benefits from strong aerospace aftermarket tailwinds, with Boeing issues providing additional upside. The company exceeded Q2 expectations and raised 2026 EBITDA guidance by 25% to $1.25 billion. Significant valuation gap exists between FTAI and aerospace aftermarket peers. | APG ABUS ROIV FTAI SOC |
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| 2024 Q4 | Feb 18, 2025 | Tourlite Capital Management | 0.4% | 14.2% | FIP, FTAI, IMVT, LTCH, REAL, ROIV, SOC | aerospace, Biotechnology, consumer, energy, industrials, Long/Short, small cap, technology | FTAI Aviation emerged as a top performer with over 200% share price increase driven by aerospace aftermarket tailwinds and growing PMA parts business market share. The company announced FAA approval for its second PMA engine part and launched a Strategic Capital Initiative to acquire mid-life aircraft, tapping into a $30 billion market opportunity. Management projects this initiative will generate approximately $200 million in incremental annual aerospace EBITDA by 2026. | ROIV SOC LTCH FIP REAL FTAI |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Tourlite Capital Management | Sable Offshore | Energy | Oil & Gas Exploration & Production | Bull | NASDAQ | Asset Restart, California, E&P, Offshore, Oil & Gas, Operational Turnaround, pipeline, Production Ramp, Regulatory Resolution | View Pitch |
| Apr 13, 2026 | Fund Letters | Tourlite Capital Management | Sable Offshore | Energy | Oil & Gas Exploration & Production | Bull | NASDAQ | California, Catalyst, E&P, Event-driven, Offshore, pipeline, Regulatory Approval | View Pitch |
| Apr 13, 2026 | Fund Letters | Tourlite Capital Management | Sable Offshore | Energy | Oil, Gas & Consumable Fuels | Bull | NYSE | California, call options, offshore oil, pipeline, Production Restart, Regulatory Approval, Santa Ynez Unit, Trump administration, Undervalued Assets | View Pitch |
| Jan 23, 2026 | Twitter / X | @100xCompounding | Sable Offshore Corp. | Energy | Oil & Gas Exploration & Production | Neutral | New York Stock Exchange | Ccc, Character, Ofsm, Out Character, Sable, State, State Waiver, Things | View Pitch |
| Jan 22, 2026 | Twitter / X | @siyul | Sable Offshore Corp. | Energy | Oil & Gas Exploration & Production | Bull | New York Stock Exchange | Bulls, Legal, Opposition, Payments, POS, Short Term Legal, SOC, Soc Bulls | View Pitch |
| Dec 6, 2025 | Fund Letters | Scott Miller | Sable Offshore Corp. | Energy | Oil & Gas Drilling | Bull | Catalyst, litigation, Offshore, oil, Re-rating | View Pitch | |
| Nov 26, 2025 | Value Investors Club | zax382 | Sable Offshore Corp | Energy | Oil & Gas Exploration & Production | Bull | NYSE | Oil, Offshore, Special situation, Tankers | View Pitch |
| Sep 26, 2025 | Substack | Triples Investing | Sable Offshore Corporation | Energy | Oil & Gas Drilling | Bull | California, environmental regulations, FPSO, Las Flores Pipeline, legal battles, offshore drilling, oil production, regulatory challenges, Sable Offshore Corporation, Trump administration | View Pitch | |
| Sep 16, 2025 | Short Thesis | Hunterbrook | Sable Offshore Corp | Energy | Oil & Gas E&P | Bear | NYSE | CapEx, ESG, Offshore, oil, Regulation | View Pitch |
| Sep 9, 2025 | Substack | Triples Investing | Sable Offshore | Energy | Oil & Gas Drilling | Bull | AB1448, California regulation, federal preemption, interstate commerce, legal challenges, offshore oil, oil extraction, Pipeline and Hazardous Materials Safety Administration, Sable Offshore, Santa Ynez Unit | 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 |
|---|---|---|---|---|---|---|---|---|
| Todd J. Kantor | Encompass Capital Advisors | $2.5B | $121.7M | 4.97% | 13,489,241 | +6,317,325 | +88.08% | 9.8342% |
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $4.0M | 0.01% | 444,200 | -577,400 | -56.52% | 0.3238% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $164,128 | 0.00% | 18,196 | +6,036 | +49.64% | 0.0133% |
| Israel Englander | Millennium Management LLC | $233.2B | $29.2M | 0.01% | 3,232,576 | -181,900 | -41.30% | 2.3567% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $4.1M | 0.01% | 455,208 | +238,218 | +109.78% | 0.3319% |
| Cliff Asness | AQR Capital Management | $190.6B | $137,286 | 0.00% | 15,220 | +4,363 | +40.19% | 0.0111% |
| Mario Gabelli | GAMCO Investors | $10.4B | $184,739 | 0.00% | 20,481 | +4,827 | +30.84% | 0.0149% |
| Louis Bacon | Moore Capital Management | $6.8B | $225,500 | 0.00% | 25,000 | -175,000 | -87.50% | 0.0182% |
| Kevin M. Keeley | Keeley-Teton Advisors, LLC | $824.8M | $2.4M | 0.29% | 93,031 | -644 | -0.69% | 0.1908% |