Group 1 - Fairlight Alpha Fund achieved a return of 9.9% net of fees in Q4 2025, outperforming the S&P 500 Total Return Index which returned 2.7% [1] - Since inception, the Fund has delivered a remarkable return of 904.9% net of fees, with an annualized return of 40.1% [1] - The Fund's outperformance in 2025 was driven by significant gains in junior gold and silver miner positions, effective execution of its investment thesis across various sectors, and an opportunistic short position [1] Group 2 - BranchOut Food Inc. (NASDAQ:BOF) was highlighted as a notable contributor in the Fund's Q4 2025 investor letter [2] - As of February 9, 2026, BranchOut Food Inc. stock closed at $2.94 per share, with a one-month return of -5.77% and a twelve-month increase of 15.01% [2] - The company has a market capitalization of $39.427 million [2] Group 3 - BranchOut Food Inc. utilizes a novel drying technique called GentleDryTM, which combines partial vacuum and gentle microwave heating to produce dried foods [3] - This method preserves 95% of the original color, flavor, and nutrients of the food, making it more effective than freeze drying and lower in cost [3] - The company produces a variety of snacks, including salted bell pepper chips, crunchy strawberry halves, and crunchy pineapple chips [3]