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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 28, 2025 | Bengal Capital | -14.0% | -31.0% | BAMM, GRUSF, TCNNF | Brand, Cannabis, consumer, Quality, Rescheduling, Scale | The fund focuses on cannabis investments including publicly traded equity, convertible debt, term debt, and preferred equity in private companies. The manager discusses rescheduling expectations for 2026-2027 and believes most 280E savings will benefit consumers rather than companies. Quality cannabis production at scale remains difficult and creates sustainable competitive advantages. | View | |
| 2025 Q1 | May 1, 2025 | Bengal Capital | -16.0% | -16.0% | CURLF, GRUSF, GTBIF, TCNNF, VRNOF | Cannabis, Capital Allocation, distressed, MSOs, small cap, value | The fund focuses on cannabis investments, particularly criticizing large MSOs for poor capital allocation while favoring disciplined operators like Grown Rogue. The manager believes the regulated cannabis industry offers volume growth opportunities for strong operators despite widespread challenges. | GRUSF |
View |
| 2024 Q1 | Apr 10, 2024 | Purpose Investment Partners | 3.0% | 3.0% | AAPL, BAC, BN.TO, CVE.TO, DISH, MCD, RY.TO, TCNNF, TD.TO, TLN, VST | credit, energy, high yield, inflation, Power Generation, Preferred, Resilience | The U.S. economy demonstrates remarkable resilience with GDP growth forecasts increasing to 2.2% for 2024 from 1.3% at year start. First-time unemployment claims remain at 1960s levels despite 100 million more people, indicating strong labor market conditions. This resilience stems from excess liquidity from pandemic-era government spending and unique 30-year mortgage structures. | CVE.TO |
View |
| 2024 Q3 | Nov 20, 2024 | Mindset Value Fund | 7.9% | 70.0% | GLASF, GRUSF, GTBIF, TCNNF | Beverages, Cannabis, Fire Retardant, Monopoly, small cap, value | Manager discusses cannabis industry dynamics, focusing on operational excellence over limited licenses. Highlights companies like Grown Rogue and Glass House that compete in tough markets with low prices versus companies relying on artificial scarcity. Notes Florida amendment failure but emphasizes continued cannabis adoption growth. | GRUSF PRM |
View |
| 2024 Q4 | Jan 15, 2025 | Purpose Investment Partners | 3.1% | 12.0% | CURO, DISH, TCNNF, TLN | Convertible, credit, distressed, duration, fixed income, high yield, Treasury | The fund actively invests in distressed credit opportunities, with the largest contributors and detractors in 2024 being distressed credit investments involving bankruptcy or near-bankruptcy situations. The team maintains a positive P&L ratio of two to one on distressed investments despite some notable losses. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 23, 2026 | Seeking Alpha | Seeking Alpha | Trulieve Cannabis Corp. | Cannabis | Multi-State Operator (MSO) | Neutral | Over-the-Counter | 280E tax, cannabis rescheduling, cash flow, DEA reclassification, debt management, Florida market, Multi-State Operator, regulatory uncertainty, tax liabilities, Trulieve Cannabis | 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. | ||||||||