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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | Apr 19, 2024 | Palm Valley Capital Management | -0.1% | 4.2% | AAP, AVA, CRD-A, DOX, EQC, GENC, KELYA, LAS.TO, MLR, MSCI, NWN, PHYS, PSLV, SMCI, SSRM, TBI, WHG, WLY | AI, Bubble, Cash, Financialization, gold, small caps, Valuations, value | Small cap valuations remain elevated despite recent volatility, with median multiples still on the high side of pre-QE3 periods. The manager categorizes the small cap universe into three buckets based on quality and valuation, currently focusing on Bucket #3 cyclical or out-of-favor businesses where compensation exists for risks assumed. | NWN |
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| 2022 Q3 | Nov 10, 2022 | Palm Valley Capital Management | -0.1% | 4.2% | KELYA, MAN, ODC, SNN, SSRM | - | View | ||
| 2024 Q4 | Jan 5, 2025 | Palm Valley Capital Management | -0.1% | 4.2% | 0288.HK, CHD, CRD-A, CRI, DOX, EL, FPI, HELE, HTLD, KELYA, LAS.TO, MAN, NVDA, NWN, PHYS, PLTR, PSLV, SEB, SSRM, STT, TBI | Cash, crypto, Cyclical, gold, small caps, Staffing, Valuations, value | Bitcoin rocketed 50% after the election to exceed $100,000, with crypto enthusiasts rejoicing at the pro-crypto stance of the incoming administration. The fund discusses various cryptocurrencies including Dogecoin with a $50 billion market cap and Tronix equal in size to major corporations, questioning the existence and value of hundreds of digital assets. | HTLD SEB KELYA |
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| 2023 Q2 | Jun 7, 2023 | Palm Valley Capital Management | -0.1% | 4.2% | AAP, CRD-A, CRD-B, LAS.TO, NGS, ODC, PSLV, SSRM, TBI, WHGLY | AI, Banking, Buybacks, credit, Recession, small cap, value | Manager views AI as potentially transformative but warns against investing in the current hype cycle. Compares AI boom to past bubbles like Cisco during the internet explosion, noting that revolutionary technology doesn't guarantee profitable investments. Believes progress will come in small steps rather than giant leaps. | LAS.TO BHARATBIJ.NS AAP |
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| 2023 Q3 | May 10, 2023 | Palm Valley Capital Management | -0.1% | 4.2% | AAP, AVA, CRD-A, CRD-B, EQC, FPI, LAS-A.TO, MLR, SSRM, TBI | Banking, Cash, credit, interest rates, real estate, small caps, valuation | Higher interest rates are like water that freezes in an overleveraged economy and splits it apart. The 10-year Treasury yield has risen to 4.6% from below 2.0% in 2019, yet equity valuations remain elevated with the S&P 500 trading at 21x P/E. The fund sees rates as a major structural headwind that will eventually force valuation adjustments. | SSRM EQC FPI ARGX BB|DAVA|DDOG|GLOB|ILMN|LOAR|MELI|NET|NU|NVDA|TSM BHARATBIJ.NS AAP CRD.A LAS/A CN|MLR|MNRO|NGS|WHGLY|WLY LAS.TO |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Palm Valley Capital Management | SSR Mining | Materials | Gold | Bull | NASDAQ | asset value, dividend, Free Cash Flow, Geographic Diversification, gold mining, materials, net cash, Precious Metals | 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. | ||||||||