Focus on Smaller Cap Value Names, Altay Capital

Altay Capital

Focus on Smaller Cap Value Names

Long time value investor. Long/Short portfolio that’s always net long (between 30-80%). I have extensive experience in the video game industry as I founded a leading media company in the space, which I have since exited after an acquisition. Gaming companies only make up ~15% of my portfolio, but its a sector where I believe I have an edge. A newsletter about value investing! Mostly focus on smaller cap value names that aren't widely covered.

Equity Bottom-Up

<ul><li>This writeup was inspired by David Orr’s tweet about the U.S. listed Chinese company DouYu (Nasdaq: DOYU) paying out a $9.76 special dividend.</li><li>The stock closed at $12.59 the day before and was $6.59 earlier in the year.</li><li>Among Chinese ADRs with significant cash balances, SOHU is my favorite. </li></ul>

This writeup was inspired by David Orr’s tweet about the U.S. listed Chinese company DouYu (Nasdaq: DOYU) paying out a $9.76 special dividend.The stock closed at $12.59 the day before and was $6.59 earlier in the year.Among Chinese ADRs with significant cash balances, SOHU is my favorite. 

Sohu.com Inc (Nasdaq: SOHU): A Net-Net with $1.3B in Cash and Valuable Real Estate

China

Longmaster Information & Technology Company Limited provides community-based phonic value-added services. The Company's main product is a large-scale telephone phonic social and entertainment platform.

Longmaster Information&Technology (300288 CH)

Zhejiang NetSun Co., Ltd. provides Internet information service, website development and maintenance services, E-commerce service, and application software development. The company developed and is currently operating www.chemnet.com.cn, www.chemnet.com, www.texnet.com.cn, www.TexWeb.com, www.pharmnet.com.cn and other several vertical e-commerce websites.

Yirendai Ltd. engages in the online consumer finance business. The Company provides services for both online and offline marketplace connecting borrowers and investors, as well as wealth management services. Yirendai serves customers in China.

21Vianet Group, Inc. provides carrier-neutral Internet data center services. The Company hosts its customers' servers and networking equipment, as well as provides interconnectivity and managed network services to enable customers to deliver data across the Internet. 21Vianet conducts business in Beijing, China.

Qtone Education Group (Guangdong)., Ltd. provides family education information services. The Company's main products include systems development operation and maintenance, business promotion operations, read the information services, family education website services.

Xiamen 35.com Technology Co., Ltd. researches and develops application software, provides corporate email hosting services, electronic business homepage building services.  The Company also provides domain name, office automation system (OA), and customer relationship management system (CRM).

Hubei Century Network Technology Co. Ltd. provides internet content and service aggregation platforms. The Company delivers music, games, and other related products.

Everyday Network Company Limited operates and markets networks of new houses, second-hand houses, and homes. Also, the Company provides research and consulting businesses. The Company's main products include various types of system software.

Beijing Tianli Mobile Service Integration Inc provides mobile information services. The Company's main products include the MAS business, ICT service platform for business and mobile phone securities business.

Beijing Tianli Mobile Service (300399 CH)

Shanghai Ganglian E-Commerce Holdings Company Limited provides market information and B2B e-commerce services for steel and steel-related industries. The Company provides market information, research services and also offers business promotion to customers.

Infomart Corporation provides business to business (B2B) e-commerce services for food industry.  The Company offers ordering systems as well as database systems that contain detailed information about food ingredients.

Connectwave Co., Ltd. operates as an online shopping portal site. The Company provides price comparing and shopping information providing service. Connectwave also generates income from advertisement.

Quotient Technology Inc. operates a promotion platform. The Company offers online printable, social, and mobile coupons in apparel, automotive, beverages, books, entertainment, food, healthcare, household, office supplies, pet, photography, professional services, and restaurants.

Softbank Technology Corp. provides electronic commerce (EC) related services. The Company mainly provides Internet systems integration, web site management, marketing consulting, and technical support services.

TrueCar, Inc. develops and publishes an online automotive information and communication platform. The Company provides data and price reports for cars both online and over the phone for consumers and a communications platform for automobile dealers to communicate with consumers. TrueCar serves customers throughout the United States.

Trade-Van Information Services Co., Ltd. provides custom filing services for importers and exporters through EDI (Electronic Data Interchange).  The Company's services include EDI, interactive EDI, file transfer, electronic mail, database inquiry, and archiving.

ADDCN Technology Co., Ltd. operates an Internet trading platform and online apparel retail businesses. The Company's platforms trades in virtual treasures, housing for tenants and buyers, car sales and apparel retail.

Ahnlab, Inc. designs and develops anti-virus solutions for network server systems, personal computers, and e-business data systems.  The Company also offers consulting service and develops Internet security applications.

Bengo4.com Inc offers lawyer and tax accountant advisory website services.

Real Matters Inc. provides an application software platform. The Company offers property valuation, collateral risk management, and data analytic services over a cloud-based environment. Real Matters serves real estate appraisers, lenders, mortgage insurers, and originators in the North American financial services industry.

Sohu.com Limited operates as an online media search and game service group company. The Company provides online brand advertising services on personal computers and mobile devices. Sohu.com serves clients in the People's Republic of China.

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