Vltava Fund’s Q1 2026 Investor Letter

Vltava Fund’s Q1 2026 letter, titled “Sport and Investing,” compares sports and investing, highlighting key market themes.  January focused on artificial intelligence, followed by the Iran war. Later, private credit gained attention amid rising interest rates, defaults, and liquidity issues. Market volatility increased, creating more opportunities and prompting greater activity to generate value for the portfolio. Please review the Fund’s top five holdings to gain insights into their key selections for 2026.

A copy of Vltava Fund’s Q1 2026 investor letter is available to download here.