White Falcon Capital Management
White Falcon Strategy
Sep 2026 → Sep 2026
Our archive holds 1 letter from this strategy, behind 5 investment theses and positions in 10 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year · follow all of White Falcon Capital Management for every strategy.
Performance
as of Sep 30, 2026 · net of fees · CAD
- YTD+4.6%index +16.7%
Index: S&P 500 TR (CAD)
| YTD | |
|---|---|
| White Falcon Strategy | +4.6% |
| S&P 500 TR (CAD) | +16.7% |
Calendar years
- 2025+28.4%index +12.2%
- 2024+14.4%index +35.2%
- 2023+36.0%index +23.2%
- 2022−9.3%index −12.6%
- 2021−1.5%index +3.3%
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.
Read full disclosures →What it bought and sold
We also recently sold our position in Rentokil Initial (RTO) after three years of ownership.
While its commercial business still remains best in class, its residential business now has significant uncertainty due to which we chose to take a loss.
Also held
Its investment theses
- Rocket CompaniesSep 2026Rocket Companies combines home search, mortgage origination, and servicing to lower acquisition costs, expand lifetime value, and gain market share, with AI-driven efficiency gains and a strong balance sheet supporting it through higher rates.
- Real MattersSep 2026Real Matters operates an appraisal platform with network-based advantages, embedded lender relationships, and cross-sell potential into title services.
- GrifolsSep 2026Grifols benefits from strong plasma-medicine demand, improving operations, deleveraging, oligopoly economics, and potential sum-of-the-parts rerating, while trading at a low forward multiple.
- Canadian SolarSep 2026Canadian Solar is building U.S. manufacturing and storage capacity with tariff and credit protection, which should lift future earnings power, cash generation, and deleveraging, creating significant upside.
- Rentokil InitialSep 2026Rentokil Initial is a branded pest-control franchise with recurring relationships and route density advantages, but the thesis weakened as AI changed lead generation and reduced customer acquisition predictability.