Krishen Iyer

Sold covered calls on our semiconductor holdings — 20% out of the money. The position has since moved in our favor as the underlying pulled back. Disciplined premium capture without sacrificing our core equity thesis. Internal capital. Internal decision.

KIV Capital continues to expand its real asset footprint. Our Costa Rica beachside residential and living community is progressing on schedule — a long-term conviction play on lifestyle real estate in an undersupplied coastal market. Proprietary capital only.

With markets extended, we positioned S&P puts 4–5 months out as a measured hedge. Not a bet against the market — a disciplined cost of protection. Capital preservation is not a defensive posture. It is an offensive one.

AI has fundamentally changed how we analyze balance sheets and model risk. What used to take days now takes hours. That analytical edge — layered on top of 18 years of pattern recognition — is a genuine advantage for a firm of our size.

KIV takes positions in distressed single-asset companies with a special circumstance thesis — healthy, growing businesses facing one specific solvable challenge. Our capital and perspective create the edge. This is where asymmetric returns live. Internal capital only.