Arar Fund

What they bought and sold · 4 moves

• 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.”

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• 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 · 7

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

• Deutsche RohstoffJun 2026
• FerrotecJun 2026
• Gravity Co. Ltd.Jun 2026
• Jackson FinancialJun 2026
• Jiayin GroupJun 2026
• SK HynixJun 2026
• Thor ExplorationsJun 2026

Theses · 11

• 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.

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• 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→
• Alphabet Inc.

  March 2025

  Alphabet Inc. is a strong player with significant growth potential in AI, particularly through Waymo, but growing competition in search and geopolitical uncertainties led us to recently sell our position despite its undervaluation.

  Read the full thesis→
• Basic-Fit

  March 2025

  Basic Fit is adjusting its capital allocation strategy amid disappointing earnings and member growth, limiting new club openings while focusing on share buybacks, indicating a potential undervaluation of its stock.

  Read the full thesis→
• Nippon Shindo

  December 2024

  Nippon Shindo is a Japanese Net-Net with significant cash on its balance sheet, a low P/E of 5, growing profits, and potential for future shareholder value creation amidst pressure to utilize its cash.

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• PAX Global Technology

  December 2024

  PAX Global is an undervalued investment with strong assets, a low P/E of 5.5, and attractive 9% annual dividends, despite a 15% stock decline this year.

  Read the full thesis→

Letter archive · 11