
Q2 2026: We are different
Dear partner, During our physical annual meeting on Thursday, June 4 in Mechelen, it was particularly nice to meet many partners in person. It was



Dear partner, During our physical annual meeting on Thursday, June 4 in Mechelen, it was particularly nice to meet many partners in person. It was

We’d like to kick things off by talking about someone who is very close to our hearts. There’s been quite a bit of a stir

2025—what a year that was. It was the year Chess Capital transformed into a better version of itself. The year we took the relationships we’ve

Dear partner, In our last quarterly letter, we suggested that the summer might be quite volatile, mainly because trading volumes tend to be lower due

Dear partner, Our outlook on the future hasn’t changed since the previous quarterly letter. At the time of writing, we are just a few days

Dear partner, You’ve no doubt read plenty about the wild swings the stock market has taken in recent weeks—and the causes behind them. Don’t ask

Dear partner, Let’s start with our best wishes for the new year. Wishing you and your loved ones good health, professional success, and plenty of

Dear partner, At Chess Capital, we invest in companies, not “the stock market.” However, this does not mean that it is illogical to compare our

Dear partner, Paul Johnson, professor at Columbia Business School and Director of the Gabelli Center for Global Security Analysis, inspired us with his presentation in

Dear partner, With the discussion of the results of eight of our top ten companies, this quarterly report is already quite extensive. Therefore, we will
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