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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jun 30, 2025 | Rockwood Strategic | - | 9.5% | CAU.L, CPI.L, CSC.L, FCH.L, FLO.L, FSJ.L, GFRD.L, KOO.L, MAM.L, PEN.L, RKW.L, RM.L, RST.L, SAA.L, STVG.L, TON.L, TRI.L, VLE.L, VQS.L | defense, financials, Recovery, small caps, technology, turnaround, United Kingdom, value | The fund employs a value investor mindset focused on free cash flow and margin of safety principles. They target companies trading at significant discounts to underlying value, seeking businesses with identifiable assets and mean reversion potential. The strategy emphasizes buying securities at prices sufficiently below underlying value to allow for human error and extreme volatility. | JFS.L FLO.L VQS.L FSJ LN FLO LN |
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| 2025 Q1 | May 1, 2025 | Rockwood Strategic | -3.8% | -3.8% | CAU.L, CPI.L, ELLE.L, FCH.L, FLO.L, FSJ.L, FTC.L, GFRD.L, KOO.L, MERC.L, NWF.L, RKW.L, RMG.L, RST.L, SAA.L, STV.L, TON.L, TRI.L, VQS.L | concentrated, Engagement, Recovery, small caps, turnaround, United Kingdom, value | Fund employs a value investor mindset focused on free cash flow and targeting companies trading at significant discounts to intrinsic value. Portfolio companies are selected based on depressed valuations with mean reversion potential and margin of safety principles. | View | |
| 2025 Q3 | Oct 20, 2025 | Rockwood Strategic | -1.9% | 7.4% | CAPD.L, CAU.L, CHSC.L, CPI.L, FCH.L, FLO.L, FSJ.L, FTC.L, KOO.L, MERC.L, PEN.L, RM.L, RST.L, SAA.L, STVG.L, TON.L, TRB.L, TRI.L, VEL.L, VQS.L | Engagement, Recovery, small caps, turnaround, United Kingdom, value | Fund employs a value investor mindset focused on free cash flow and targeting companies trading below underlying value. Strategy involves identifying businesses with significant mean reversion potential and margin of safety opportunities. Portfolio positioned to benefit from UK small cap value outperformance versus growth. | FSJ FLO VANQ FSJ FLO VANQ |
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| 2024 Q4 | Jan 30, 2025 | Rockwood Strategic | 2.3% | 25.7% | CAU.L, CPI.L, FCH.L, FLO.L, FSJ.L, FTC.L, GFRD.L, KOO.L, MERC.L, NWBD.L, PRES.L, RKW.L, RMG.L, RST.L, SAA.L, STV.L, TON.L, TRI.L, VANL.L, VQS.L | Concentration, Recovery, small caps, turnaround, United Kingdom, value | Fund targets severely discounted UK small cap valuations with simple average EV/EBITDA of 5.9x and EV/Sales 0.9x. Manager emphasizes buying quality businesses at depressed prices with margin of safety approach. Starting valuations matter significantly for long-term returns. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Rockwood Strategic | Vanquis Banking Group | Financials | Consumer Finance | Bull | London Stock Exchange | Banking License, consumer finance, Cost Reduction, credit cards, Deposit Funding, subprime lending, turnaround, UK, Underbanked, Vehicle Finance | 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. | ||||||||