By Soumya Eswaran
Publication Date: 2026-05-07 12:00:00
White Falcon Capital Management, an investment fund manager, has published its investor letter for the first quarter of 2025. In the difficult and volatile first quarter, White Falcon posted a net return of -6.1%, while the S&P 500 TR (CAD) -3.1%, the MSCI AC TR (CAD) -0.6% and the S&P TSX TR returned 4.0%. A copy of the letter is available download here. During the quarter, the software and services sector faces a downturn due to AI-related risks, but the company emphasizes long-term performance over short-term results. The White Falcon portfolio seeks a positive risk-adjusted return that deviates from market indices. The software sector represents a long-term opportunity that is driving increased allocation to key software companies with competitive advantages. Another significant event this quarter was the conflict in Iran. White Falcon’s investment approach to any conflict is to maintain portfolio exposure without making drastic changes. Please also check the fund details…
