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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Jul 2, 2024 | Miller Value Partners Deep Value Strategies | 4.6% | 20.1% | GTN, IT, NBR, UNFI | - | View | ||
| 2024 Q1 | Apr 15, 2024 | FPA Queens Road Small Cap Value Fund | 7.5% | 8.2% | ALTM, CNXC, DECK, IDCC, JBT, MTZ, PVH, SFM, UGI, UNFI | - | View | ||
| 2025 Q3 | Oct 9, 2025 | Kingdom Capital Advisors | 20.8% | 7.9% | AIV, AKA, FGF, GCO, HRBR, MAGN, NLOP, UNFI, UNTC, VNTRF, WW | cash flow, special situations, tariffs, turnaround, Value Investing | Kingdom Capital achieved a strong rebound, emphasizing disciplined research in overlooked and mispriced U.S. equities. The fund blends special situations and traditional value holdings, such as United Natural Foods and Net Lease Office Properties, focusing on cash flow, liquidation catalysts, and management execution. Despite macro headwinds like tariffs and rates, the fund stresses informational edge and patient capital allocation. | AKA US MAGN US WW US GCO US AIV US UNFI US |
View |
| 2024 Q3 | Oct 8, 2024 | Kingdom Capital Advisors | 2.5% | 15.9% | ECRO, GLXZ, HCC, NLOP, RRGB, SCOR, UNFI | - | View | ||
| 2024 Q3 | Oct 10, 2024 | Miller Value Partners Deep Value Strategies | 4.6% | 20.1% | GCI, NBR, QUAD, UNFI | - | 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 16, 2026 | Far View Capital Management | -7.0% | -9.7% | CRTA.L, THG.L, THRY, TRST.L, UNFI, WEW.DE | E-Commerce, Europe, SaaS, small caps, technology, value | Portfolio includes Westwing AG, a European online home-goods retailer that was the largest contributor in H2 2025. Also invested in Ingenuity PLC, an e-commerce enablement operation providing technology, fulfillment, and marketing services to consumer brands including Nestle, Coca-Cola, P&G, and L'Oreal. Invested in Cirata PLC, a UK-listed data migration software specialist, and previously held Thryv Holdings which offered a SaaS business within a legacy Yellow Pages wrapper. The Thryv thesis broke when seasoned net revenue retention fell 900 bps to 94%, exposing higher churn and delayed product development. | THRY TRST LN CRTA LN WEW GR |
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| 2023 Q2 | Aug 22, 2023 | First Eagle Investments | 0.0% | 0.0% | CCL, CCSI, CNC, MERC, PFC, PRAA, UNFI | - | View | ||
| 2024 Q2 | Jul 20, 2024 | Pernas Research | 18.0% | 17.8% | UNFI, XMTR | - | View | ||
| 2025 Q1 | Apr 14, 2025 | Kingdom Capital Advisors | -7.1% | -7.1% | AKA, MAGN, NLOP, UNFI, UNTC | - | View | ||
| 2025 Q1 | Apr 14, 2025 | Miller Value Partners Deep Value Strategies | -12.8% | -12.8% | GCI, GTN, JELD, QUAD, UNFI | - | View | ||
| 2023 Q1 | Apr 14, 2023 | FPA Queens Road Small Cap Value Fund | 7.5% | 8.2% | DECK, FN, GIII, IDCC, NJR, OMI, RLI, SFBS, SYNA, UNFI | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 8, 2026 | Fund Letters | David Bastian | United Natural Foods, Inc. | Consumer Staples | Food Distributors | Bull | New York Stock Exchange | cybersecurity, Distribution, guidance, Margins, turnaround | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Forward Analytics | United Natural Foods, Inc. | Consumer Staples | Food Distribution | Bear | NYSE | — | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Blake Winiecki | United Natural Foods, Inc. | Consumer Staples | Food Distribution | Neutral | 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. | ||||||||