TSSI

TSSI

TSSI

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2026 Q1	Apr 8, 2026	Kingdom Capital Advisors	8.0%	8.0%	AENT, KODK, MAGN, MLCI, NLOP, NVRI, STKL, TSSI, UNFI, WATT, WBD, WW, ZD	Distribution, Media, real estate, small caps, special situations, value		NVRI MAGN UNFI NLOP AENT	View
2024 Q3	Oct 23, 2024	Deep Sail Capital Partners	13.8%	23.5%	CLBT, CLPT, PNG.TO, TSSI	AI, cybersecurity, growth, Long/Short, Robotics, small caps, technology	Manager expects continued excitement around AI infrastructure could lead to an outright AI bubble by mid-2025. TSS Inc. was added as a new position focused on AI data center growth, specifically liquid-cooled data centers.	CLBT	View
2025 Q3	Oct 2, 2025	Rodrigo Benedetti	-	-	ABX, CLS, CONL, IJH, IREN, IWM, JOBY, MSFT, NBIS, NEM, ORCL, PLTR, RXST, SNAP, STRL, TGEN, TSSI, VRT	AI, Fed policy, Gold Miners, Long/Short, Risk Appetite, Shorts, Speculation	Manager attempted to short AI-related names believing the theme needed a rest, targeting low quality companies benefiting from datacenter capex but offering commoditizable services at high multiples. However, the market continued financing datacenter capex aggressively, forcing position closures after significant losses.		View
2025 Q4	Jan 7, 2026	Kingdom Capital Advisors	8.9%	17.5%	AIV, AKA, CRSXF, HRBR, MAGN, NLOP, NVRI, SUP, TSSI, UNFI, WW	concentrated, Liquidations, Microcap, special situations, Turnarounds, value	Kingdom Capital focuses on overlooked microcap companies trading at significant discounts to intrinsic value. The portfolio includes businesses like UNFI trading below 4x EV/EBITDA and generating substantial free cash flow, demonstrating the manager's value-oriented approach. The fund specializes in microcap investing with a concentrated, research-intensive approach. Despite significant challenges including bankruptcies and customer losses, the strategy delivered strong returns by exploiting inefficiencies in overlooked areas of the market. 2025 tested the fund's thesis severely with a bankruptcy, major customer losses, and cyber-attacks, yet delivered 17.45% net returns. The manager emphasizes that edge comes from exploiting inefficiency rather than avoiding adversity, demonstrating portfolio resilience through active management.		View
2025 Q4	Jan 28, 2026	Rodrigo Benedetti	0.0%	0.0%	ARKK, CLS, KITS.TO, MSFT, NBIS, ORCL, QQQ, QURE, REGN, SLNO, SPY, STRL, TEVA, TGEN, TSSI, TWST, VRT, XOP	AI, Biotechnology, commodities, Fintech, gold, healthcare, oil	Manager observes precious metals experiencing massive bubble-like moves with gold and silver going through blow-off tops. Believes there is no fundamental reason for this rally and compares moves to the 1970s when US abandoned gold standard. AI companies, particularly neoclouds, corrected 50% but are showing signs of life again. Manager previously shorted low quality AI names trading on high multiples but closed positions when momentum couldn't be fought. Oil equities have diverged from oil prices with E&P, OFS and Majors underperforming. Manager notes well-supplied market and Chinese demand reduction while they add to strategic reserves. Mixed results in biotech with FDA walking back QURE approval after mixed data causing roundtrip of profits. Healthcare sector performed well with TEVA and REGN benefiting from immunity to tariffs and AI disruption. Excited about Figure Technologies at crossroads of blockchain and electronic HELOC securitization. Company provides bridge for stablecoin yield investment and operates marketplace for on-chain loan investment with fraud-resistant electronic system.	EMO CN KITS CN	View
2024 Q4	Jan 23, 2025	Deep Sail Capital Partners	11.8%	38.1%	ANET, ELF, IONQ, KRKNF, LCID, META, NVDA, QBTS, QMCO, QUBT, RIVN, RKLB, TSSI, VRT	AI, Bubble, growth, Robotics, Short Selling, small cap, technology	Manager discusses the emergence of a speculative AI and quantum computing bubble in late 2024, particularly following Google's Willow quantum chip announcement. The bubble has focused on lower-quality companies rather than established AI leaders like Nvidia, Meta, and Arista Networks, creating attractive short-selling opportunities.	SHEL.F VRT ELF TSSI RKLB PNG.TO	View
2024 Q4	Jan 21, 2025	Kingdom Capital Advisors	2.1%	18.3%	ENZ, GLXZ, HCC, MAGN, NLOP, NPK, RGS, SCOR, SUP, TSSI, UNFI, UNTC	AI, Coal, Concentration, defense, Distribution, small caps, turnaround, value	KCA applies a concentrated approach to small cap investing, with the Russell 2000 serving as their benchmark. The manager notes that small cap stocks experienced a Trump rally in November that reversed by year-end. Since inception, small caps have returned about 7% cumulatively versus 89% for KCA.	TSSI NPK MAGN SUP UNFI NLOP	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Kingdom Capital Advisors	TSS Incorporated	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	AI, data centers, DELL, infrastructure, Revenue Growth, Server Racks, technology hardware, xAI	View Pitch
Apr 13, 2026	Fund Letters	Deep Sail Capital Partners	TSS Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	data centers, Dell Partnership, infrastructure, IT Solutions, liquid cooling, technology hardware	View Pitch
Aug 8, 2025	Seeking Alpha	Caffital Research	TSS, Inc.	Information Technology	Information Technology Services	Neutral	NASDAQ	—	View Pitch

BSD Shareholders of TSSI

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

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.

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