Merion Highway Capital Q3 2025 Letter
Abstract
- Merion Highway Capital’s Lengthy Solely portfolio gained 10% within the quarter.
- Kratos administration recognized a number of massive wins publish quarter finish that can enhance Q3 bookings.
- Victory Capital administration elevated their value synergy goal to $110mm and have traditionally exceeded their steerage.
- AMWD/MBC at the moment commerce at 6.6x / 9.7x their depressed EBITDA / free money circulation.
Torsten Asmus/iStock by way of Getty Photographs
The Lengthy Solely portfolio gained 10% within the quarter. The portfolio was most impacted by the sturdy efficiency of Kratos (“KTOS”), a place I initiated in Q2. The inventory almost doubled in Q3 pushed by constructive business developments and
Merion Highway Capital Administration LLC is a registered funding adviser. We concentrate on value-oriented investing by means of rigorous elementary evaluation of an organization’s operations.
