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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 8, 2025 | Warden Capital | - | -1.3% | GOOGL, META, MSFT, PLTR, SPWH | AI, Hedging, Housing, rates, Recession, REITs, tariffs, valuation | Portfolio remains vast majority REIT focused with assets trading at high yields and significant discounts to private market and historical prices. Housing market continues to weaken especially in Texas and Florida as high prices and rates push affordability to all-time lows. Construction spending has turned negative which historically comes with recession except 1966. | PLTR SPWH PLTR SPWH |
View |
| 2021 Q4 | Feb 5, 2021 | Choice Equities Capital Management | 2.3% | 36.9% | FARM, GMS, INVE, SPWH | Building Materials, retail, small cap, technology, value | SPWH |
View | |
| 2024 Q4 | Jan 15, 2025 | Warden Capital | - | 8.5% | ANF, AVGO, BRK-A, ILPT, MAC, NVDA, PK, SPOT, SPWH, VNO | AI, rates, real estate, small caps, tariffs, technology, value | Manager analyzes massive AI capex spending (~$220B) versus minimal end-user revenues (~$15B), questioning ROI sustainability. Deepseek's 30x cheaper pricing model threatens industry economics. Compares current situation to 2000 tech bubble with potential for capital overspending. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jun 15, 2026 | Fund Letters | Choice Equities Capital Management | Sportsman's Warehouse Holdings, Inc. | Specialty Retail | Specialty Retail | Bull | NASDAQ | Ammunition, Failed Merger, Guns, net cash, Outdoor Retail, Small Format Stores, Special Situation, Sporting goods, store expansion, Value | View Pitch |
| Apr 13, 2026 | Fund Letters | Warden Capital | Sportsman's Warehouse Holdings Inc | Consumer Discretionary | Specialty Retail | Bull | NASDAQ | Cost Reduction, EBITDA multiple, Firearms, new CEO, same-store sales, Specialty retail, Sporting goods, turnaround | View Pitch |
| Jan 8, 2026 | Fund Letters | Hawkins Entrekin | Sportsman's Warehouse Holdings, Inc. | Consumer Discretionary | Specialty Retail | Neutral | NASDAQ | Firearms, Margins, retail, turnaround, valuation | 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 |
|---|---|---|---|---|---|---|---|---|
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $655,203 | 0.00% | 448,769 | -138,905 | -23.64% | 1.4248% |
| Mario Gabelli | GAMCO Investors | $10.4B | $1.0M | 0.01% | 701,500 | +155,500 | +28.48% | 2.2272% |