Atai Capital Management Q4 2025 Commentary

Atai Capital Management42 FollowersFollow5ShareSavePlay(12min)CommentsSummaryAtai Capital experienced a 5.0% decline in the fourth quarter net of all fees.The portfolio's top contributor for the quarter was Bel Fuse, which we subsequently sold out of entirely.During the quarter, we added to our position in Kitwave Group, a previously undisclosed position that has since been acquired.Finding great ideas at the pace needed to handle the portfolio's turnover has been difficult, but with recent macroeconomic shocks, that could change soon.One structural change I want to touch on is that I've decided to increase our AUM cap from $50M to $100M. Dilok Klaisataporn/iStock via Getty Images Atai Capital experienced a 5.0% decline in the fourth quarter net of all fees. This compares to a 2.7% gain for the S&P 500, a 2.3% gain for the Russell 2000, and a 6.2% gain for the Russell Microcap for theThis article was written byAtai Capital Management42 FollowersFollowAtai ("Value" in Japanese) Capital Management is a long-only, concentrated, unlevered fund run through separately managed accounts (SMAs). They employ a repeatable small-cap-focused value strategy and are based in Fort Worth, Texas. Note: This account is not managed or monitored by Atai Capital Management, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Atai's official channels.