Quercus Fund
Our archive holds 6 letters from Quercus Fund, behind 5 investment theses and positions in 8 companies. Every quote below is copied verbatim from the letter it came from.
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What they bought and sold · 4 moves
- ExitedCompagnie de l’OdetJune 2026
“As I write this, we are no longer shareholders of Compagnie de l’Odet - for the first time since the Fund was launched.”
Read the letter - ExitedBraskem IdesaJune 2026
“For the same reason - better opportunities - at the beginning of the month our Braskem Idesa’s bonds were sold.”
Read the letter - New positionFirst Philippine HoldingsJune 2026
“The names described next are good examples. First Philippine Holdings and Lopez Holdings”
Read the letter - New positionLopez HoldingsJune 2026
“The names described next are good examples. First Philippine Holdings and Lopez Holdings”
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Companies held · 8
Every company Quercus Fund has disclosed a position in across our archive, with the letter that last mentioned it.
- Braskem IdesaJun 2026
- Compagnie de l’OdetJun 2026
- First PacificJun 2026
- First Philippine HoldingsJun 2026
- FPHJun 2026
- Lopez HoldingsJun 2026
- LPZJun 2026
- Sanjiang ChemicalsJun 2026
Theses · 5
- Sanjiang ChemicalsJune 2026
Sanjiang Chemicals is a chemicals producer whose profits, flexibility, cost-curve improvement, and management execution support the long-term investment case.
Read the full thesis - Compagnie de l'OdetJune 2026
Compagnie de l'Odet is a holding company whose value is backed by Universal Music Group, but the discount to intrinsic value is now seen as less attractive.
Read the full thesis - First Philippine HoldingsJune 2026
First Philippine Holdings owns leading geothermal, hydro, gas and real estate assets, with strong renewable tailwinds, hidden value in Meralco, buybacks, and a large valuation discount.
Read the full thesis - Lopez HoldingsJune 2026
Lopez Holdings is a holding company with valuable stakes in infrastructure and power assets, trading at a discount because of layered holding-company complexity and illiquidity.
Read the full thesis - March 2025
Halyk is expected to deliver a 30%-33% ROE in 2025, offering significant potential returns through dividends and share appreciation despite being undervalued in the frontier market of Kazakhstan.
Read the full thesis
Letter archive · 6
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