--- title: Letters (2) description: Owls Nest Partners Letters (2) --- All Topics [All Topics](https://blog.owlsnest.partners/letters) [Concentrated Long Only](https://blog.owlsnest.partners/letters/tag/concentrated-long-only) [Concentrated Equities](https://blog.owlsnest.partners/letters/tag/concentrated-equities) [Year End 2023 Review Letter](https://blog.owlsnest.partners/letters/concentrated-long-only-q4-2023) ![](https://blog.owlsnest.partners/hubfs/ONP-Letters-Gray.jpg) [Concentrated Long Only](https://blog.owlsnest.partners/letters/tag/concentrated-long-only) ### Year End 2023 Review Letter May 10, 2024 28 min read [Year End 2023 Review Letter](https://blog.owlsnest.partners/letters/concentrated-equities-q4-2023) ![](https://blog.owlsnest.partners/hubfs/ONP-Letters-Gray.jpg) [Concentrated Equities](https://blog.owlsnest.partners/letters/tag/concentrated-equities) ### Year End 2023 Review Letter May 10, 2024 27 min read [2023 Semi-Annual Report](https://blog.owlsnest.partners/letters/concentrated-long-only-semi-annual-2023) ![](https://blog.owlsnest.partners/hubfs/ONP-Letters-Blue.jpg) [Concentrated Long Only](https://blog.owlsnest.partners/letters/tag/concentrated-long-only) ### 2023 Semi-Annual Report Nov 2, 2023 18 min read [2023 Semi-Annual Report](https://blog.owlsnest.partners/letters/concentrated-equities-semi-annual-2023) ![](https://blog.owlsnest.partners/hubfs/ONP-Letters-Blue.jpg) [Concentrated Equities](https://blog.owlsnest.partners/letters/tag/concentrated-equities) ### 2023 Semi-Annual Report Nov 2, 2023 18 min read [Q4 2022 Review Letter](https://blog.owlsnest.partners/letters/concentrated-equities-q4-2022) ![](https://blog.owlsnest.partners/hubfs/ONP-Letters-Blue.jpg) [Concentrated Equities](https://blog.owlsnest.partners/letters/tag/concentrated-equities) ### Q4 2022 Review Letter Dec 31, 2022 32 min read [Q4 2022 Review Letter](https://blog.owlsnest.partners/letters/concentrated-long-only-q4-2022) ![](https://blog.owlsnest.partners/hubfs/ONP-Letters-Gray.jpg) [Concentrated Long Only](https://blog.owlsnest.partners/letters/tag/concentrated-long-only) ### Q4 2022 Review Letter Dec 31, 2022 32 min read [Q3 2022 Review Letter](https://blog.owlsnest.partners/letters/concentrated-equities-q3-2022) ![](https://blog.owlsnest.partners/hubfs/ONP-Letters-Blue.jpg) [Concentrated Equities](https://blog.owlsnest.partners/letters/tag/concentrated-equities) ### Q3 2022 Review Letter Sep 30, 2022 16 min read [Q3 2022 Review Letter](https://blog.owlsnest.partners/letters/concentrated-long-only-q3-2022) ![](https://blog.owlsnest.partners/hubfs/ONP-Letters-Gray.jpg) [Concentrated Long Only](https://blog.owlsnest.partners/letters/tag/concentrated-long-only) ### Q3 2022 Review Letter Sep 30, 2022 16 min read [Q2 2022 Review Letter](https://blog.owlsnest.partners/letters/concentrated-equities-q2-2022) ![](https://blog.owlsnest.partners/hubfs/ONP-Letters-Blue.jpg) [Concentrated Equities](https://blog.owlsnest.partners/letters/tag/concentrated-equities) ### Q2 2022 Review Letter Jun 30, 2022 20 min read Load More Stories   ![Phillip-Timon](https://blog.owlsnest.partners/hs-fs/hubfs/Team_Headshots/Phillip_2-1.jpeg?width=1000&height=1000&name=Phillip_2-1.jpeg) ### Philip Timon Founder, CIO & Portfolio Manager - Responsible for new idea generation; portfolio construction; risk management; due diligence - 25+ years overseeing concentrated small-cap portfolios, on behalf of the most sophisticated allocators in the United States - Previously: Founder, Endowment Capital Group; Portfolio Manager, Downtown Associates; Analyst, W.H. Newbold’s Son & Company - University of Pennsylvania, Wharton School, B.S. 1986 - Married to Isabella, 3 sons, 3 daughters, 2 dogs ![David-Ferreira](https://blog.owlsnest.partners/hs-fs/hubfs/Team_Headshots/David_2-1.jpeg?width=1000&height=1000&name=David_2-1.jpeg) ### David Ferreira Co-Founder, President - Responsible for all non-investment functions of the firm. - Corporate and funds attorney with over a decade of leadership experience specific to the building and operating of complex investment strategies and structures - Previously: Senior Vice President, Fortress Investment Group/Logan Circle Partners; Associate, Linklaters LLP - University of Pennsylvania B.A. 2004; Rhodes Scholar 2005; Oxford University, OXILP LPC 2006 - Married to Beth, 3 sons ![placeholder-headshot](https://blog.owlsnest.partners/hs-fs/hubfs/placeholder-headshot.jpg?width=350&height=350&name=placeholder-headshot.jpg) ### Stefanos T. Kasselakis Portfolio Manager Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Rhoncus est pellentesque elit ullamcorper dignissim cras tincidunt lobortis. In pellentesque massa placerat duis ultricies. Pellentesque adipiscing commodo elit at. Adipiscing commodo elit at imperdiet dui accumsan. Nunc non blandit massa enim nec dui nunc mattis enim. Nunc sed velit dignissim sodales ut eu sem integer. Sed id semper risus in hendrerit gravida rutrum. Sed nisi lacus sed viverra tellus in hac. Quis imperdiet massa tincidunt nunc pulvinar. Id consectetur purus ut faucibus pulvinar. Quis varius quam quisque id diam vel quam elementum pulvinar. At lectus urna duis convallis convallis tellus. Neque viverra justo nec ultrices dui sapien eget. Ut consequat semper viverra nam. Etiam tempor orci eu lobortis elementum nibh tellus molestie. Volutpat ac tincidunt vitae semper. Sit amet risus nullam eget felis eget nunc lobortis. Vitae semper quis lectus nulla at. Proin sagittis nisl rhoncus mattis rhoncus urna neque viverra justo. At ultrices mi tempus imperdiet. Ultricies mi eget mauris pharetra et ultrices. Egestas sed tempus urna et pharetra pharetra massa. Duis tristique sollicitudin nibh sit amet commodo nulla facilisi. Scelerisque in dictum non consectetur a. Nibh tellus molestie nunc non blandit massa enim. Maecenas volutpat blandit aliquam etiam. Arcu non odio euismod lacinia at. Aliquam vestibulum morbi blandit cursus risus. Sit amet venenatis urna cursus. Vitae suscipit tellus mauris a diam maecenas. Interdum velit euismod in pellentesque massa. Amet dictum sit amet justo donec. At lectus urna duis convallis convallis tellus id. Risus viverra adipiscing at in. Semper eget duis at tellus at urna.