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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 22, 2025 | Harbor Mid Cap Value Fund | 4.9% | 2.1% | ADT, MCK, NRG, TAP | Factor Investing, fundamentals, Mean reversion, mid cap value, Valuation gap | The letter focuses on significant valuation dispersion between growth and value stocks, particularly in the mid-cap segment. Management argues that deep value stocks have been left behind despite solid fundamentals and improving earnings power. Mean reversion and disciplined factor-based stock selection underpin the long-term opportunity. | View | |
| 2025 Q4 | Jan 5, 2026 | Greenfield Investment Management | 0.0% | 0.0% | BLDR, BNT.DE, CARR, CSU.TO, GOOGL, HEI.DE, INTC, JMHLY, MCK, OMC, POW.TO, RSHO, RYAAY, TAP, WCC | Airlines, Conglomerates, global, infrastructure, Pharmaceuticals, semiconductors, technology, value | Manager believes Heidelberg Materials will benefit from investment in and upgrading of infrastructure around the world. New bridges, highways, dams, tunnels, airports, ports, pipes, and railways require a lot of cement. McKesson investment viewed as similar to a royalty on Americans taking more pharmaceuticals over time. The pharmaceutical distribution company operates mainly in the United States and has climbed steadily despite earlier opioid crisis concerns. Manager follows value investing approach, buying companies at attractive valuations relative to earnings. Multiple examples given of purchasing stocks at low price-to-earnings multiples when they were out of favor. | View | |
| 2025 Q4 | Jan 20, 2026 | Highwood Value Partners | 5.7% | 10.2% | 2333.HK, ALIM-B.ST, BOL.PA, BORR, BUR.L, FEVR.L, GETB.L, JZC.L, MOT.L, ODET.PA, PROT.OL, RYA.L, STDRL.OL, SYY, TAP, TGO.PA, UMG.AS, VIV.PA, VWS.CO | Capital Cycle, Concentration, energy, Europe, Litigation Finance, special situations, value | Manager emphasizes concentrated value investing approach, buying companies at significant discounts to fair value. Portfolio trades at 48 cents on the dollar of estimated intrinsic value with median P/E of 7.5x. Focus on fundamental bottom-up analysis with 5+ year holding periods. Burford Capital represents the largest position as a litigation finance leader. The business generates returns by funding commercial litigation claims and managing third-party capital. YPF case represents major catalyst with clear judgment in favor. Borr Drilling is a special situation in shallow water drilling rigs. The capital cycle investment thesis centers on industry oversupply working through the system, with rig rates recovering from current levels toward long-run averages as old rigs retire. | RYAAY FEVR LN GETB LN BORR NO BUR LN |
View |
| 2025 Q4 | Jan 13, 2026 | Thornburg Strategic Income Fund | 1.2% | 7.6% | AMAT, AMZN, META, TAP, TGT | credit, Data centers, duration, Fed policy, fixed income, investment grade, yield curve | The portfolio identified attractive opportunities within project finance through lending secured by data centers under construction with leases to investment-grade tenants. These transactions offer high barriers to entry, favorable valuations, robust structures, and desirable tenant profiles despite maintaining a generally cautious view of the data center and AI sectors. Recent bankruptcies and instances of fraud may be indicative of light covenants typically seen late-cycle. Credit spreads remain tight, particularly within private market areas that have experienced sharp growth, raising concerns about credit quality deterioration. The Federal Reserve continued its easing cycle with 50 basis points of rate cuts including a 25bp cut in December lowering the Fed Funds rate to 3.50-3.75%. Treasury yields fluctuated with short-end yields declining 20-30 basis points as rate-cut expectations increased while the curve continued to steepen. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Nov 25, 2025 | Substack | Scalpavelli | Molson Coors Beverage Company | Consumer Staples | Beverages - Brewers | Bull | beer industry, brand portfolio, Consumer Preferences, Cost management, defensive stock, dividend payouts, global brewer, market share gains, market turmoil, premium brands | View Pitch | |
| Oct 15, 2025 | Value Investors Club | jso1123 | Molson Coors Beverage Co. | Consumer Staples | Beverages – Brewers | Bear | NYSE | Beer decline, Below-premium exposure, Cannabis substitution, Generational shifts, GLP-1 drugs, Non-alcoholic trend, Seltzers & RTDs, Structural headwinds | View Pitch |
| Sep 17, 2025 | Substack | Scalpavelli | Molson Coors Beverage Company | Consumer Defensive | Beverages - Brewers | Bull | beverage industry, brand portfolio, cash flow stability, debt management, dividends, market re-rating, Molson Coors, operating leverage, Share Buybacks, strategic investments | View Pitch | |
| Aug 8, 2025 | Seeking Alpha | Alan Galecki | Molson Coors Beverage Company | Consumer Staples | Beverages - Brewers | Bear | NYSE | — | 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. | ||||||||