Investor Letters

Letters through June 30, 2023

1 letter reporting on the period ending June 30, 2023, in each firm's own reckoning.

Palm Harbour Capital Q2 2023 Letter Palm Harbour Capital added special situations and built a significant Lottomatica stake, arguing that its Italian gaming franchise combines online growth, defensive cash flow and a low valuation. It retained IGT and RHI Magnesita after strategic developments, challenged Wallenius Wilhelmsen’s offer for Treasure ASA, and exited MTU Aero Engines and iHeartMedia. second quarter of 2023 LOTMY $6.3B086280 $12B0NFS 4966 $2B