Letters by company
Burford Capital Ltd
7 letters discussing BUR. Everything written about it on this site is on its ticker page.
- Greenhaven Road Capital Main Fund Q2 Greenhaven Road Capital is reducing concentration, adding near-term catalysts and taking profits more readily while retaining its focus on advantaged businesses. It argues that Burford’s protein litigation, Hagerty’s insurer partnerships, Cellebrite’s Genesis launch, Lifecore’s strategic process and Kingsway’s search-model buildout can close valuation gaps. second quarter 2026 ANAB $1.4BBUR $772MCLBT $2.9B
- Greenhaven Road Capital Q4 2025 Greenhaven Road Capital groups Lifecore and Vistry as transformations whose operating progress has yet to be reflected in their valuations. It argues that fears around Burford, PAR, Cellebrite and KKR are overstated, while Hagerty’s State Farm rollout, operating leverage and marketplace expansion support its investment case. Q4 2025 BUR $772MCLBT $2.9BHGTY $4.8B
- Greenhaven Road Capital Q1 2023 Greenhaven Road Capital assesses portfolio durability through PAR Technology, KKR, Cellebrite and API Group, emphasizing recurring demand, balance-sheet strength and product-driven growth. It added special situations in Lifecore and Barnes & Noble Education, while underwriting Burford Capital’s litigation-finance franchise, fee opportunity and YPF claim recovery. Q1 2023 BUR $772MBNED $400MCLBT $2.9B
- Highwood Value Partners Highwood Value Partners H2 2025 Letter to Investors – Download PDF Highwood Value Partners sold Protector, Ryanair and Alimak after their valuation cases matured, then redeployed capital into discounted existing holdings. The portfolio is concentrated around Burford, Borr Drilling, GetBusy, Fever-Tree, Bolloré and Compagnie de L’Odet, where improving fundamentals and corporate catalysts are expected to narrow valuation discounts. second half of 2025 0R8W BOIVF $12BBORR $1.3B
- Greenhaven Road Capital Q1 2025 Greenhaven Road increased Lifecore, Vistry and Hagerty after tariff-related selling, while retaining its core case for KKR, PAR and Cellebrite. It presents Kingsway as an underfollowed acquirer that can scale a search-fund model through operator-led purchases of small, asset-light businesses. Q1 2025 BUR $772MCLBT $2.9BKKR $80B
- Greenhaven Road Capital Q1 2024 Greenhaven Road Capital concentrates its case on PAR Technology’s restaurant software rollout and acquisitions, arguing that Burger King, Wendy’s and overseas expansion can turn contracted recurring revenue and new products into cash generation. It also backs Cellebrite, KKR, Burford and IWG on durable demand, while exiting Sphere after its venue-opening thesis matured. first quarter 2024 PAR $611MANY $33MBUR $772M
- The London Company Market Observations & Portfolio Commentary International Equity – 2Q2026 vs MSCI EAFE The International Equity portfolio retained its quality-and-valuation discipline amid volatile markets, arguing that durable cash flows, pricing power and strong balance sheets should benefit as financial conditions tighten. It exited Burford Capital after its Argentina appeal loss, added to RELX and Willis Towers Watson, and maintained conviction in Taiwan Semiconductor, ICON, InterContinental Hotels, Nintendo and BAE Systems. 2Q2026 BAESY $72BICLR $13BIHG $24B
