Soumya Eswaran
3 min read
In This Article:
Greenhaven Road Capital, an investment management company, released its first-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the first quarter, the fund returned around -12% net of fees and expenses, trailing the Russell 2000 by approximately 2% in large part. The Q1 letter focused on President Trump’s Liberation Day and the attendant tariff policies rather than company fundamentals. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025.
In its first-quarter 2025 investor letter, Greenhaven Road Capital highlighted stocks such as Cellebrite DI Ltd. (NASDAQ:CLBT). Headquartered in Petah Tikva, Israel, Cellebrite DI Ltd. (NASDAQ:CLBT) is a software company that develops solutions for legally sanctioned investigations. The one-month return of Cellebrite DI Ltd. (NASDAQ:CLBT) was -14.37%, and its shares gained 40.99% of their value over the last 52 weeks. On May 21, 2025, Cellebrite DI Ltd. (NASDAQ:CLBT) stock closed at $16.89 per share with a market capitalization of $4.009 billion.
Greenhaven Road Capital stated the following regarding Cellebrite DI Ltd. (NASDAQ:CLBT) in its Q1 2025 investor letter:
"Cellebrite DI Ltd. (NASDAQ:CLBT) – As one of a very small handful of suppliers selling unique software and services critical to law enforcement, there is virtually no risk of Cellebrite being impacted from the tariffs. While there has been some concern about DOGE (Department of Government Efficiency) slashing government contracts, the 20% of Cellebrite’s revenues that are related to the federal government mostly address high-profile priorities like securing the border and investigating the legal status of individuals. Cellebrite tools are unlikely to be cut.
