Join for free and get access to the buyside
Get insights from the world's most influential hedge fund investors direct to your inbox
- © 2025 Buyside Digest
- Privacy Policy
- Disclaimer
- Sitemap
- Terms of Service
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Sep 3, 2025 | VH Standard Asset Management | 8.1% | 7.1% | BASE, BERY, BPMC, BRDG, COOP, DFS, ESGR, GMS, GTLS, HES, JNPR, JWN, LFCR, RDFN, SGOV, SPTN, STR, SWTX, TURN, X | Antitrust, Cash, Deregulation, M&A, Merger Arbitrage, Regulatory | The manager notes a significant pickup in M&A activity within the biotech-pharma-healthcare industry recently, which has provided deal flow for the portfolio. Johnson & Johnson's $15 billion acquisition of Intra-Cellular received no regulatory scrutiny, exemplifying the more permissive environment. | View | |
| 2025 Q1 | May 19, 2025 | 180 Degree Capital Corp | 4.5% | 4.5% | ACNT, AREN, AVNW, BCOV, CVGI, IVAC, LTRX, MAMA, PBPB, RFIL, SCOR, SNCR, TURN | Asset Management, Mergers, private credit, small caps, turnaround, value | Manager emphasizes 35 years as a value investor attempting to uncover great companies trading below intrinsic value. The proposed Mount Logan combination represents what they believe is a great undiscovered and undervalued company. The letter repeatedly discusses finding substantially undervalued small, publicly traded companies with turnaround potential. | View | |
| 2025 Q1 | May 17, 2025 | VH Standard Asset Management | - | - | ALTM, ALTR, APO, AZPN, BECN, BRDG, COF, DFS, DNB, EDR, ESGR, HCP, HEES, HHH, HRI, JNPR, JWN, K, PDCO, PLYA, RDFN, RDUS, SWTX, TURN, WBA | Capital markets, M&A, Merger Arbitrage, risk management, volatility | The manager expects M&A activity to pick up significantly, leading to increased overbids and excess returns. Current environment shows minimal overbids, quiet go-shops, and subdued optimism, but historical patterns suggest this will revert to more competitive conditions similar to the 1980s merger boom. | View | |
| 2025 Q4 | Dec 31, 2025 | Clark Street Value | - | - | BHR, BRSL, FI, FSP, FWRD, FWRD. GDEN, GLIBA, GRBK, IOR, JEF, LNW, MCHB, MLCI CN, MREO, NLOP, NSTS, SEG, SOHOO, TURN | Capitalreturns, catalysts, distressed, specialsituations, value | The year-end review reflects a contrarian, special-situations-driven value approach amid significant underperformance versus the S&P 500. The portfolio focuses on distressed equities, REIT liquidations, take-privates, and idiosyncratic balance sheet mispricings where catalysts such as sales processes, buyouts, or capital returns can unlock value. Value investing is framed as lumpy and uncomfortable, with long-term success dependent on patience, downside analysis, and selective conviction rather than benchmark alignment. | TURN SOHOO LNW JEF FI GDEN FWRD BHR |
View |
| 2024 Q4 | Dec 31, 2024 | Marlton Partners | 13.2% | 24.6% | ALHG.PA, API.L, AVAX-USD, BOL.PA, CAN.L, HAVAS.AS, JARA.L, JGC.L, MCG.JO, ODET.PA, PRSR.L, PSH.L, SOL-USD, TPOU.L, TURN, VIV.PA, VPLAY-B.ST | activism, catalysts, Investment Trusts, Liquidations, NAV Discount, real estate, special situations, value | Marlton focuses on asset-covered situations trading at discounts to net asset value with hard catalysts to unlock value. The fund systematically identifies candidates offering periodic exit opportunities at or near NAV across UK Investment Trusts and US Closed-End Funds. Portfolio includes liquidating REITs, controlled conglomerates, and various corporate actions. | API.L JARA.L JGC.L BOL.PA PRSR.L |
View |
| 2025 Q3 | Nov 13, 2025 | VH Standard Asset Management | - | 13.3% | AL, ANSS, CYBR, DAY, EA, GTLS, HES, HOUS, INFA, MRUS, MTSR, NSC, PBPB, PLYM, SKX, TECK, TURN, VRN, WBA, ZIMV | capital preservation, Deregulation, M&A, Merger Arbitrage, risk management | The manager discusses operating in a buoyant M&A environment with positive tailwinds from deregulation and favorable economic framework. The fund's strategy is compared to operating an insurance company, focusing on growing book value over the long term through merger arbitrage transactions. | View | |
| 2023 Q2 | Jul 20, 2023 | 180 Degree Capital Corp | 0.0% | 0.0% | CVGI, IVAC, PBPB, QBTS, SCOR, TURN | activism, Concentration, Microcap, small caps, turnaround, value | Fund focuses on substantially undervalued small, publicly traded companies with potential for significant turnarounds through constructive activism. Portfolio is highly concentrated in microcap names with catalysts expected to drive material appreciation. | View | |
| 2024 Q4 | Feb 14, 2025 | 180 Degree Capital Corp | - | - | TURN | Asset Management, Merger, private credit, small caps, value | Mount Logan is focused on what the manager believes is the fast-growing market of private credit. The asset management platform has approximately $2.4+ billion of assets under management that generates predictable fee revenue. Mount Logan has operational leverage and unique investment access through its association with BC Partners, a leading global private equity and credit firm. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 27, 2026 | Fund Letters | Pearu Põld | 180 Degree Capital Corp | Financials | Asset Management | Bull | NASDAQ | Assetmanagement, Closedendfund, merger, Optionality, Tenderoffer | 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. | ||||||||