Malborough Marlborough Global High Yield Fund

Jul 2026 → Jul 2026

Our archive holds 1 letter from this strategy, behind 1 investment thesis. Every quote below is copied verbatim from the letter it came from.

1 letter in a year — follow all of Marlborough for every strategy.

What it bought and sold

ExitedDISHJul 2026
• Cable satellite (DISH, ZIGGO): the team exited select U.S. cable satellite positions during the month as the sector continued to underperform European cable peers.
AddedSCIH Salt HoldingsJul 2026
• SCIH Salt Holdings (MORTON): The company, North America’s largest salt producer, has successfully deleveraged following its acquisition of K+S’s salt business and benefited from two consecutive favourable winter seasons that supported earnings and cash flow generation.
ExitedZiggoJul 2026
• Cable satellite (DISH, ZIGGO): the team exited select U.S. cable satellite positions during the month as the sector continued to underperform European cable peers.
ExitedAltice FinancingJul 2026
• Altice Financing (ALTICE): the team exited its position as actions taken by majority shareholder and founder, Patrick Drahi, toward creditors increasingly weighed on investor sentiment and impacted bond performance.
ExitedWorldlineJul 2026
• Worldline (WLNFP): the team exited its position after benefiting from a recovery in bond prices from distressed levels.
AddedArches BuyerJul 2026
• Arches Buyer (ACOM): The company has been able to improve customer lifetime value (LTV) over the last several quarters through consistent improvements in ARPU.