1. Aquila Energy Effiency Trust PLC (£AEET) – RoyalDutch of Value Investors Club
🌬️💡💷📉📈
Thesis: “Aquila Energy Efficiency Trust PLC (AEET) presents a compelling deep value investment opportunity, primarily driven by its current managed wind-down status. We believe the cash returns generated from the orderly liquidation of AEET's assets will significantly exceed the current market valuation of its shares. This conviction is underpinned by a pro-forma Net Asset Value (NAV) of £40.4 million, which translates to 49.6p per share. Compared to the prevailing share price of 29p, this represents a substantial discount of approximately 41%.”
2. Burford Capital (£BUR) – Gary9 of Value Investors Club
⚖️💰📈🔍🕰️
Thesis: Burford is “the leader in the growing field of litigation finance… BUR is at a very attractive entry point valuation with a proven, successful business model and potentially decades of market growth ahead… I find the upside cases amusing to posit but hard to pinpoint. I’m happy to be a long-term financier of this business model and see how it develops for the market leader.”
3. Card Factory (£CARD) – The Finance Corner
🎉🛍️🏪📊💵
Thesis: “Card Factory has 1,090 locations and is the leading UK specialist retailer of greeting cards… The positive aspect of the story that I believe is often overlooked is the growth in operating profit per store over the past few years… Based on it, the company’s fair value is ~£411m (£1.18 per share), ~30% higher than the current price, offering an IRR of ~14%.”
4. Cavendish plc (£CAV) – Hardman & Co
📈🏦🇬🇧📉🔄
Thesis: “Cavendish is an investment bank, focused on UK smaller companies (less than £1bn) and providing capital raising and corporate advice… We don’t anticipate a resurgence in UK equity markets in our forecasts, but there might just prove to be one driven by the extreme low valuations, or effective regulatory change. Or both. What is clear is that Cavendish can still make profits in very tricky conditions and that, if markets improve, the upside should be very substantial.”
5. Elixirr International (£ELIX) – Mahad’s Substack
🧠💻📊🌍🚀
Thesis: “Elixirr is a relatively young consultancy, founded in 2009 with the stated goal of becoming the best digital, AI and data consultancy in the world anchored on the technology of tomorrow… [Based on the author’s assumptions] the resulting fair value per share is £8.72, implying a margin of safety of 21% relative to the current price.”
6. hVIVO (£HVO) – Deepvalue Capital
🧪😷🏥🔬💉
Thesis: “hVIVO is the global leader in Human Challenge Trials (HCTs), where healthy volunteers are intentionally exposed to viruses in a controlled setting to test vaccines and antivirals… hVIVO has become a high-ROIC, niche CRO with global IP, and clean financials. Management’s turned it into a disciplined, cash-generating operator, not just a one-trick HCT pony.”
7. JTC PLC (£JTC) – Nuggets per tutti
🏦🌐💼🔐📈
Thesis: “JTC PLC is a professional services company listed on the FTSE 250 of the London Stock Exchange, specialising in the provision of trust, fund management, and private client services… JTC PLC represents a quality investment in a consolidating sector with several sustainable competitive advantages. Its unique shared ownership culture, integrated technology platform, and recognized regulatory expertise are key assets in a fragmented $15.3 billion market. Current geopolitical risks, while real, appear manageable thanks to JTC's geographic and sector diversification.”
8. Mountview Estates (£MTVW) – Maynard Payton
🏘️📉💷📈🏰
Thesis: MTVW “buys, holds and sells regulated-tenancy (and similar) properties and boasts an illustrious, 40-year-plus history of net asset value and dividend advances… Properties are carried at cost, and when eventually sold at their ‘reversionary’ values may generate total proceeds significantly in excess of the recent market cap.”
9. Solvonis Therapeutics (£SVNS) – Charles Archer
💊🧠💥📈🌍
Thesis: “This small biotech could transform addiction treatment both in the UK and beyond - while delivering exceptional returns for early investors… One of the most attractive aspects of the Solvonis investment opportunity is the clear timeline of catalysts that could drive significant value creation over the next several years… annual revenues could reach hundreds of millions of dollars at peak- and a billion dollar company could be in the making.”
10. Thungela (£TGA) – The Oak Bloke’s Substack
⛏️🌍🔥📉🎯
Thesis: “TGA operates six mining operations in South Africa, both underground and opencast mines… TGA is a bet on the future price of coal and that bet appears to be where the odds and the near term pay out could be heavily in your favour.”
11. Valterra Platinum (£VALT) – Cayucos Capital
🔩🌍💎📉⚠️
Thesis: It is “the world’s largest miner of platinum group metals, or PGMs… In Valterra you have the best quality miner, just outside the bottom quartile of valuation range in a sector experiencing declining supply and demand likely to exceed on the upside. A risky Buy.”
12. Wise plc (£WISE) – Wonder Stocks
🌍💸🔁💪🚀
Thesis: “Wise grew, with a mission to make international money transfers cheap, fair, and simple for everyone… Wise is an incredibly special business. It is not just another promising growth stock, but a genuine contender to join the pantheon of truly great, category-defining enterprises. Its power lies in a simple yet profoundly effective flywheel: by relentlessly driving down costs and improving service for its customers, it builds a scale and a trust that becomes almost impossible for high-margin incumbents to challenge.”
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