White Falcon Capital Management’s Q1 2026 Investor Letter

White Falcon Capital Management, an investment fund manager, released its first-quarter 2025 investor letter. In the tough and volatile first quarter, White Falcon delivered a net return of -6.1%, vs. the S&P 500 TR’s (CAD) -3.1%, MSCI AC TR’s (CAD) -0.6%, and the S&P TSX TR’s 4.0% returns. In the quarter, the software and services sector faces a downturn due to AI-related risks, but the firm emphasizes long-term performance over short-term results. The White Falcon portfolio aims for positive risk-adjusted returns, diverging from market indexes. The software sector presents a...