Letters by company
Hagerty, Inc.
3 letters discussing HGTY. Everything written about it on this site is on its ticker page.
- Greenhaven Road Capital Main Fund Q2 Greenhaven Road Capital is reducing concentration and adding catalyst-driven positions while retaining its emphasis on differentiated research. It argues that Burford’s protein litigation, Hagerty’s insurer partnerships, Cellebrite’s Genesis rollout, Lifecore’s capacity sales and Kingsway’s search-model buildout can close gaps between market expectations and business value. Q2 2026 +11.0% BUR $946MCLBT $2.9BHGTY $4.6BANAB $1.7B
- Greenhaven Road Capital Q4 2025 Greenhaven Road Capital groups Lifecore and Vistry as “Bamboo Trees,” where operational transformations and capacity or partnership-model progress have yet to be reflected in valuations. It argues that fears around AI disruption, litigation, fundraising and credit are mispriced at PAR, Cellebrite, Burford and KKR, while Hagerty benefits from State Farm onboarding and marketplace growth. Q4 2025 -2.0% BUR $946MCLBT $2.9BHGTY $4.6BKKR-P-D
- Greenhaven Road Capital Q1 2025 Kingsway Financial is presented as a new purchase built around a Search Xcelerator that backs operators acquiring small, asset-light businesses, with tax losses and experienced advisers adding optionality. Greenhaven Road added to Lifecore, Vistry and Hagerty during tariff-driven weakness, while arguing that its core holdings retain limited direct trade exposure. Q1 2025 -12.0% KFS BUR $946MCLBT $2.9BKKR $96B
