Greenhaven Road Capital’s Updates on Kingsway Financial (KFS)

6 days ago 6

Soumya Eswaran

Mon, November 10, 2025 astatine 7:54 AM CST 3 min read

Greenhaven Road Capital, an concern absorption company, released its third-quarter 2025 capitalist letter. A transcript of the missive tin beryllium downloaded here. In the 3rd quarter, the money returned astir -9%, bringing the YTD returns to astir -9%. The factors that affected the portfolio during the 4th included a deficiency of nonstop concern successful AI, nary overlap with the S&P 500 and Russell 2000, and insufficient ownership of small, precocious growth, yet unprofitable companies that person driven the caller rally and benefited from the existent AI landscape. In addition, you tin cheque the fund’s apical 5 holdings to find its champion picks for 2025.

In its third-quarter 2025 capitalist letter, Greenhaven Road Capital highlighted stocks specified arsenic Kingsway Financial Services Inc. (NYSE:KFS). Headquartered successful Chicago, Illinois, Kingsway Financial Services Inc. (NYSE:KFS) engages successful extended warranty and concern services. The one-month instrumentality of Kingsway Financial Services Inc. (NYSE:KFS) was -19.28%, and its shares gained 45.31% of their worth implicit the past 52 weeks. On November 7, 2025, Kingsway Financial Services Inc. (NYSE:KFS) banal closed astatine $13.02 per share, with a marketplace capitalization of $375.932 million.

Greenhaven Road Capital stated the pursuing regarding Kingsway Financial Services Inc. (NYSE:KFS) successful its 3rd 4th 2025 capitalist letter:

"Kingsway Financial Services Inc. (NYSE:KFS): I wrote astir Kingsway extensively successful our Q1 missive (link). Search funds person historically generated yearly returns successful excess of 30% but they person been hard to entree with immoderate standard and they are inherently illiquid.