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 |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q3 | Oct 1, 2024 | Palm Valley Capital Management | -0.1% | 4.2% | DOX, EQC, HELE, LAS.TO, NATH, RGP, TBI, WHGLY, WLY | Commercial real estate, Fed policy, rates, small caps, Staffing, value | The commercial real estate market faces a menacing backdrop with property valuations for office sector down 40% and multifamily suffering. Many lenders reluctant to foreclose hoping for recovery. Small banks may not be properly recognizing expected loan losses on distressed CRE assets despite significantly lower valuations. | HELE WHGLY DOX LAS.TO RGP TBI |
View |
| 2025 Q4 | Jan 6, 2026 | Palm Valley Capital Management | 0.7% | 4.5% | AMDOCS, AVA, CRI, DOM, FLO, FORR, FPI, HTLD, INGR, KELYA, LAS/A, LKQ, MAN, NWN, PHYS, PSLV, PVCMX, RES, UTZ, WHGLY | capital preservation, Cash, optionality, Patience, valuation | The letter highlights a cautious stance driven by elevated valuations, narrow market leadership, and limited margins of safety across equities. Cash is positioned as a strategic asset, preserving optionality and protecting capital while waiting for more attractive risk-reward setups. Capital preservation and patience are framed as competitive advantages late in the market cycle. | HTLD FLO INGR UTZ DOM LN |
View |
| 2023 Q2 | Jun 7, 2023 | Palm Valley Capital Management | -0.1% | 4.2% | AAP, CRD-A, CRD-B, LAS.TO, NGS, ODC, PSLV, SSRM, TBI, WHGLY | AI, Banking, Buybacks, credit, Recession, small cap, value | Manager views AI as potentially transformative but warns against investing in the current hype cycle. Compares AI boom to past bubbles like Cisco during the internet explosion, noting that revolutionary technology doesn't guarantee profitable investments. Believes progress will come in small steps rather than giant leaps. | LAS.TO BHARATBIJ.NS AAP |
View |
| 2025 Q1 | Apr 4, 2025 | Palm Valley Capital Management | 0.6% | 0.6% | AVA, CRI, FLO, FORR, HTLD, KELYA, LAS.TO, MNRO, NWN, PHYS, PSLV, REYN, RGP, TBI, WHGLY | Cyclical, fiscal policy, gold, Government Spending, Quality, small caps, Staffing, value | Small cap equity performance has trailed large caps with fewer passive tailwinds and a drag from lower quality businesses. High quality small cap businesses remain fully valued despite the S&P SmallCap 600 being down 17% from its November 2024 record. The median profitable small cap company has an EV/EBIT multiple of 17x with elevated profits and valuations. | FLO MNRO REYN FORR |
View |
| 2023 Q1 | Mar 31, 2023 | Palm Valley Capital Management | -0.1% | 4.2% | CRD/A, GENC, MLR, NGS, OR, WHGLY | - | View | ||
| 2023 Q4 | Jan 7, 2024 | Palm Valley Capital Management | -0.1% | 4.2% | AAP, AVA, CRD-A, CRD-B, CRI, DOX, KELYA, LAS.TO, MLR, MNRO, NGS, TRUE, WHGLY, WLY | Fed policy, Inequality, inflation, liquidity, small caps, value | Small caps experienced significant volatility in 2023, with a 26% surge from October lows driven by Fed pivot expectations. However, 40% of Russell 2000 constituents remain unprofitable, and median net income has stagnated for 25 years. Quality deterioration and speculative business models persist despite recent outperformance. | LAS/A CN|MLR|MNRO|NGS|WHGLY|WLY LAS/A CN|MLR|MNRO|NGS|WHGLY|WLY |
View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Palm Valley Capital Management | WH Group | Consumer Staples | Packaged Foods & Meats | Bull | OTC | Feed Costs, geopolitical risk, Operational Turnaround, Packaged meats, Pork Producer, Smithfield IPO, value unlock | 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. | ||||||||