At current prices, the returns for the hedged positions are flat (-1%) due to, as you said, the recent rally in CLBT stock. The discount to NAV remains wide at 41%. With True Wind recently successfully acquiring a 19% stake in Sun Corp, I would expect this discount to narrow as activists might push for an outright sale of CLBT or the monetization of Sun Corp's stake.
Great update . Also bullish on ARE. Wish management was stronger though
How is the gain on hedged Sun Corp/6736? I'm just wondering if CLBT rally has left it at flat?
At current prices, the returns for the hedged positions are flat (-1%) due to, as you said, the recent rally in CLBT stock. The discount to NAV remains wide at 41%. With True Wind recently successfully acquiring a 19% stake in Sun Corp, I would expect this discount to narrow as activists might push for an outright sale of CLBT or the monetization of Sun Corp's stake.