Letters by company
H&T Group plc
5 letters discussing HAT. Everything written about it on this site is on its ticker page.
- Palm Harbour Capital Letter 2022 Q3 | 244 KB Palm Harbour Capital sold Motor Oil after Greece imposed a retroactive windfall tax that it believes discourages refining and renewable-energy investment, and exited Boa Vista amid irrational below-cost pricing by a new competitor. It added two undisclosed positions, trimmed market beneficiaries and added to indiscriminately sold holdings. H&T Group was presented as a countercyclical pawnbroking investment benefiting from tighter high-cost lending regulation and rising household costs. third quarter 2022 BAYZF $48BMOHCF $7.6BOCINF $981M
- Palm Harbour Capital Letter 2024 Q1 Palm Harbour Capital bought Piraeus Port Authority, citing its cash generation, capacity expansion and recovery potential as trade routes normalize. The fund argues that IGT’s Everi merger creates additional risks but retains substantial value potential, while maintaining conviction in several discounted cash-rich holdings. Q1 2024 GHTI 0NV0 9824 $910M
- Palm Harbour Capital Q4 2024 Letter Palm Harbour Capital bought Compagnie de l’Odet, arguing that its cross-holding structure obscures asset value and that Bolloré family simplification could unlock it. The fund sold H&T, OVS and DNO, while warning that political disruption, tariffs and speculative US valuations may raise the cost of risk. Q4 2024 FCODF $4.7B0NFS BOIVF $12B
- Palm Harbour Capital Q4 2022 Letter Palm Harbour Capital added LNA Santé, arguing that its nursing-home business has stronger regulation, lower operating leverage and a different property model than Orpea or Korian. The fund sold Ringmetall on peak-cycle earnings concerns and remains positioned for valuation-driven opportunities amid inflation and rate volatility. fourth quarter 2022 LNA $289M0NEX IBST $429M
- Palm Harbour Capital Letter 2021 Q2 | 236 KB Palm Harbour Capital sold portions of winners to fund laggards, exited three holdings and added three. It argues that undervalued, cash-generative businesses offer protection against inflation and deflation, and sets out investment cases for C Uyemura’s PCB chemicals niche and Ginebra San Miguel’s Philippine gin franchise. second quarter 2021 0NFS 4966 $2.2BBFSAF $1.6B
