Letters by company
International Petroleum Corporation
4 letters discussing IPCFF. Everything written about it on this site is on its ticker page.
- Moerus Capital Management Semi-Annual Shareholder Letter: Six Months Ended June 30, 2026 Moerus Worldwide Fund avoided richly valued AI-linked technology stocks and added depressed opportunities in U.K. housebuilding, agricultural equipment, Indian life insurance and chemicals. It exited Valaris after Transocean’s takeover bid, while arguing that energy, materials and consumer holdings retain long-term value despite market volatility. Six Months Ended June 30, 2026 AKAAF $8.5BANGPY $19BBTRW $6B
- Aegis Value Fund Portfolio Manager’s Letter Aegis Value Fund kept a large energy allocation, arguing depleted inventories, constrained supply and underinvestment support oil producers, while retaining precious-metals miners despite a correction. It held Cenovus, reduced Equinox, sold Amerigo on valuation and feedstock risk, and bought Radian, hotel REITs, Jet2 and Harley-Davidson at discounted valuations. 1st Half Ended June 30, 2026 ARG $948MATHOF $3.9BCLDT $803M
- Smead Capital Management 1Q26 International Value Strategy Newsletter: Succeeding Unconventionally Smead International Value Strategy concentrates in oil equities after the prior energy capital-spending boom left supply constrained and producers reluctant to expand. It argues that European banks’ cost discipline, buybacks and potential consolidation can sustain returns on capital, while reviewing recoveries in Burberry, Glencore, Frontline and Next. 1Q26 BAWAY $15BBBRYF $5.1BBCS $77B
- GreenWood Investors Builders with a Sense of Urgency GreenWood Investors backs owner-managed businesses using aggressive repurchases and long-term investment to compound per-share value, focusing on RH, Bolloré and CTT. The firm added to CTT and International Petroleum, won four Leonardo board seats, and added index hedges while avoiding large-cap technology fads. First Half 2023 BOIVF $11BCTTOF $686MFINMF $34B
