Pelican Bay Capital Management’s Q4 2025 Investor Letter

Pelican Bay Capital Management (PBCM), an investment management company, released its fourth-quarter 2025 investor letter. PBCM Concentrated Value Strategy returned 8.5% in the quarter, compared to a 3.8% return for the Russell 1000 Value Index. The robust performance of AI-related stocks and commodities exposure drove the Strategy’s performance in the quarter. For the full year, the Strategy returned 20.6% compared to 15.9% for the Index. The firm seeks to invest in high-quality companies with a strong balance sheet. Please review the Fund’s top five holdings to gain insights into their key selections for 2025.

A copy of Pelican Bay Capital Management’s Q4 2025 investor letter can be downloaded here.