Letters by company
Amdocs LTD
4 letters discussing DOX. Everything written about it on this site is on its ticker page.
- Palm Valley Capital Groundhog Day Palm Valley retained a large Treasury-bill allocation and avoided AI beneficiaries, arguing that speculative valuations, peak margins, and costly AI investment leave little room for normal competition and cyclicality. The fund added Clorox, Molson Coors, and Vontier, sold Heartland Express at its valuation, and maintained positions in discounted businesses including Amdocs, LKQ, Kelly Services, and TrueBlue. Second Quarter 2026 CLX $9.9BDOX $6.1BHTLD $868M
- Palm Valley Capital First Quarter 2026 Commentary Palm Valley Capital Fund held 77% of assets in Treasury-bill-heavy cash equivalents while finding valuation discounts across staffing, food, software, medical devices and used car parts. It bought Rayonier and trimmed Chord Energy, Heartland Express and Farmland Partners as they neared estimated value. The fund argues that AI disruption is being overstated in several holdings, particularly Amdocs and staffing firms. First Quarter 2026 CHRD $7.5BDOX $6.1BFLO $1.2B
- Palm Valley Capital Third Quarter 2025 Commentary Palm Valley Capital Fund kept roughly three quarters of assets in cash equivalents while arguing that AI-led mega-cap valuations and small-cap multiples leave little margin for error. It added Teleflex, Robert Half, LKQ, and Avista, sold Seaboard after shares exceeded its valuation, and trimmed precious-metals trusts to manage their weightings. Third Quarter 2025 NVDA $5.8TAVA $3BDOX $6.1B
- Palm Valley Capital Beggar Thy Enabler Palm Valley Capital Fund argues that Federal Reserve easing transfers wealth toward asset holders while worsening housing affordability, fiscal burdens, and commercial real-estate risk. The fund kept roughly 81.5% in cash equivalents, bought Helen of Troy, and sold John Wiley & Sons, Nathan’s Famous, and Equity Commonwealth. It maintains positions in staffing businesses despite a prolonged labor-demand slump. Third Quarter 2024 DOX $6.1BHELE $665MLSDAF $1.1B
