LongEXO.MISep 2026
Exor N.V.
Exor is a longstanding family-controlled holding company that the fund views as a durable compounder with strong capital allocation and a history of successful acquisitions. Its…
Ayalon (4D) Global Stocks, managed by Ayalon Trust Funds Ltd.
Global classic value strategy combining long-term compounders with systematic micro-cap and net-net value stocks, generally maintaining full equity exposure and leaving foreign-currency exposure unhedged.13 published ideas
Ayalon (4D) Global Stocks is an Israeli mutual fund managed by Ayalon Trust Funds Ltd., with investment consulting provided through Zelikovic Financial Investments IRA Ltd. The approach combines long-term compounder holdings with systematic micro-cap and net-net value strategies and emphasizes financially robust companies purchased below economic value. The letter states a long-term investment goal of at least five years and rejects market timing and speculative trading. ([Maya Files][1])
Ideas from Ayalon (4D) Global Stocks, managed by Ayalon Trust Funds Ltd.
LongBNSep 2026
Brookfield Corporation
Brookfield is viewed as a compounding asset-management platform whose scale and fee streams can grow with assets under management. The letter says Brookfield has increased AUM at…
LongPPLISep 2026
People Inc.
People Inc., formerly InterActiveCorp, is controlled by Barry Diller and is viewed as a holding-company compounder with a long record of creating shareholder value. The manager…
LongKKRSep 2026
KKR & Co. Inc.
KKR is a large alternative asset manager that the fund believes can compound through continued growth in assets under management and the economics of a highly profitable…
LongFFH.TOSep 2026
Fairfax Financial Holdings Limited
Fairfax is presented as a core insurance compounder benefiting from both underwriting profits and the investment of insurance float. The letter highlights that Fairfax has…
LongAGOSep 2026
Assured Guaranty Ltd.
Assured Guaranty is included among the fund's preferred insurance compounders. The business primarily insures municipal liabilities, fitting the manager's preference for insurers…
LongMKLSep 2026
Markel Group Inc.
Markel is described as a holding and insurance company that resembles a smaller Berkshire Hathaway and is led by renowned investor Thomas Gayner. The fund values the insurance…
LongPROTSep 2026
Protector Forsikring ASA
Protector is a longstanding insurance holding that the manager says continues to stand out in the European insurance industry. Since the fund began buying the shares in 2017, the…
LongKNSLSep 2026
Kinsale Capital Group, Inc.
Kinsale was added to the insurance compounder bucket because it specializes in excess and surplus insurance for unusual risks that many traditional carriers decline to insure…
LongPHOE.TASep 2026
Phoenix Financial Ltd.
Phoenix Financial was added in 2025 as an Israeli insurance compounder. The manager was impressed by both its insurance capabilities and its investment operation, matching the…
LongTPLSep 2026
Texas Pacific Land Corporation
Texas Pacific Land remains a highly profitable long-term holding that earns royalties from oil and water resources on its Texas land. The manager sees an additional source of…
LongIBKRSep 2026
Interactive Brokers Group, Inc.
Interactive Brokers is viewed as one of the largest and most efficient global brokerage platforms, with a highly automated model and strong profitability. The fund emphasizes its…
LongCSU.TOSep 2026
Constellation Software Inc.
Constellation Software is a serial acquirer of niche vertical-software businesses with a long record of strong earnings growth and capital allocation. The shares fell more than…
Letters covered
- 2025 Information Letter Updated for Q2 2026September 8, 2026
Source PDFs are not republished here; only extracted ideas and quotes.