Letters by company
Syensqo SA
4 letters discussing SHBBF. Everything written about it on this site is on its ticker page.
- Palm Harbour Capital Q4 2023 Letter Palm Harbour Capital increased its Japanese allocation on expectations that stock-exchange pressure will improve capital allocation and shareholder engagement. The fund exited C Uyemura, Bayer and several other positions, while retaining both Solvay and Syensqo after their separation and building exposure to OCI’s asset-sale-driven value realization. fourth quarter 2023 SHBBF $9.1BSVYSF $2.9B4966 $2.2B
- 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 Letter 2025 Q3 | 553 KB Palm Harbour Capital exited Ocean Wilsons, Syensqo and The Italian Sea Group, and added Cirsa, Converge ICT, Indofood and Vivendi in favour of cyclical businesses with stronger cash-flow prospects. The portfolio avoids US mega-cap AI momentum and argues that Youngone’s premium apparel OEM franchise and a recovery in SCOTT Sports offer an attractive turnaround opportunity. third quarter 2025 0NFS 0OIY $1.5BAMZN $2.7T
- Palm Harbour Capital Q3 2024 Letter Palm Harbour Capital sold Everi, PAX Technology and Unieuro, while adding M. Dias Branco, a Brazilian packaged-food leader working through post-inflation pricing and operational changes. The portfolio thesis centers on corporate actions at OCI, Ocean Wilson and IGT, alongside undervalued industrial, consumer and infrastructure holdings with identifiable catalysts. Q3 2024 DNIYY $4BIBST $429MOCINF $981M
