Bristlemoon Capital, a global equities firm, released its “Bristlemoon Global Fund” third-quarter 2026 investor letter. The letter can be downloaded here. The Bristlemoon Global Fund returned -8.4% in Q3 2026 (-5.9% in September), underperforming an S&P 500 whose gains were concentrated in top-tier tech names. The Fund’s underexposure to AI and semiconductor market rotations created a gap between market valuations and strong underlying business fundamentals. Management remains optimistic...
Polaris (PII): Short Initiation Amid Fading Restocking Tailwinds and Flaw in 2027 Consensus
