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Arar Fund

Dec 2024 → Sep 2026 · Publishes monthly

Our archive holds 12 letters from Arar Fund, behind 16 investment theses and positions in 11 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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12
Letters
11
Companies
5
Moves
16
Theses

Performance

as of Sep 30, 2026

  • YTD
    +15.3%
Disclaimer

These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.

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What they bought and sold · 5 moves

  • TrimmedJackson Financial
    September 2026
    “we took [the stock being down only 5% after the QVT report release] as a window to drastically reduce our position to only a token leftover”
    Read the letter
  • AddedJackson Financial
    June 2026
    “It went down over 10% on Q1 earnings earlier and made us tactically expand our position, and after it recently went up 15% on an upgrade we decided to better-size our position.”
    Read the letter
  • ExitedFerrotec
    June 2026
    “We exited Ferrotec, a Japanese company engaged in the semiconductor sector.”
    Read the letter
  • TrimmedJiayin Group
    June 2026
    “We still own the stock but did pivot away somewhat before the announcement.”
    Read the letter
  • New positionDeutsche Rohstoff
    June 2026
    “Fast-tracking production is exactly what our company in focus has done at the start of 2026, making it our latest investment and this month’s Company In Focus: Deutsche Rohstoff.”
    Read the letter

Companies held · 11

Every company Arar Fund has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 16

  • Jackson Financial
    September 2026

    Jackson Financial is an insurer whose investment case weakened because of concerns over Brooke Re, MRB assets, and limited remaining upside after a large rerating.

    Read the full thesis
  • SK Hynix
    September 2026

    SK Hynix is a memory-chip leader with a technological edge, strong balance sheet, and long-duration growth from HBM shortages and pricing power.

    Read the full thesis
  • SK Square
    September 2026

    SK Square is a holding company whose discount to the value of its SK Hynix stake creates a deep value opportunity.

    Read the full thesis
  • SK Inc
    September 2026

    SK Inc is a holding company trading far below the value of its indirect SK Hynix stake, with optionality from other investments.

    Read the full thesis
  • SK Inc preferred shares
    September 2026

    SK Inc preferred shares offer the same economic exposure as the common shares but at a wider discount, creating larger upside if the discount narrows.

    Read the full thesis
  • Deutsche Rohstoff
    June 2026

    Deutsche Rohstoff is supported by elevated oil and gas prices, extra production, a valuable Almonty stake, cash, and a valuation that could be triple the market cap.

    Read the full thesis
  • Auxly Cannabis Group Inc.
    January 2026

    Auxly Cannabis Group is a profitable Canadian cannabis producer with leading brands, efficient scale, an Imperial Brands partnership, and a low P/E supporting attractive growth potential.

    Read the full thesis
  • Basic-Fit
    December 2025

    BasicFit is a European low-cost gym operator benefiting from strong member growth and a strategic CleverFit acquisition that adds franchising expertise, German scale, and expansion optionality.

    Read the full thesis
  • Jiayin Group
    December 2025

    Jiayin Group is a lending intermediary facing regulatory pressure but with potential recovery through originations rebound, pivot to prime, overseas growth, and an attractive ~4.8x P/E valuation floor.

    Read the full thesis
  • Golconda
    December 2025

    Golconda is a gold miner with strong leverage to higher gold prices and a reopened Summit mine that boosts production, supporting attractive earnings power despite large share gains.

    Read the full thesis
  • China Yuhua Education
    September 2025

    Despite extreme investor pessimism, YuHua Education offers massive upside potential as it pivots to vocational training in line with CCP priorities, trades at a distressed valuation, and stands to benefit from easing regulatory risk and recovering profitability.

    Read the full thesis
  • Jiayin Group
    July 2025

    Despite new Chinese regulations on online lending, Jiayin Group’s strong data-driven risk model and limited competitive impact preserve its edge—offering deep value at below 3× earnings with upside if China favors domestic credit expansion.

    Read the full thesis

Letter archive · 12

2026

2025

2024

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