Investor Letters

Letters through September 30, 2020

1 letter reporting on the period ending September 30, 2020, in each firm's own reckoning.

Palm Harbour Capital Letter 2020 Q3 | 246 KB Palm Harbour Global Value Fund retained its value strategy amid pandemic uncertainty and expectations of eventual mean reversion in expensive growth assets. It backed Esprinet after insider buying and strong trading, opposed Danieli’s savings-share conversion terms, and argued that Unieuro’s omnichannel progress and Bayer’s crop-science outlook were underappreciated. third quarter of 2020 0ROF delisted0NFS ARZTF $1.1B