Tourlite Capital Management’s Q4 2025 Investor Letter

Tourlite Capital Management, an investment management company, released its fourth-quarter 2025 investor letter. In Q4, Tourlite Fund, LP returned 0.2% compared to 2.7% for the S&P 500 Index and 2.2% for the Russell 2000. The Fund posted 2.8% for the full year 2025, substantially below the 17.9% and 12.8% returns of the indexes. In 2025, the fund underperformed below the target return range, primarily due to poor stock selection in the long book, which focuses on event-driven investments. While the short book added 0.9% to performance. Despite disappointing results, the fundamental views...