Hidden Value Stocks Q3 2025 Special Edition: WHG Asset Management And Crossroads Capital

Welcome to the Special Edition Q3 2025 issue of Hidden Value Stocks from Hedge Fund Alpha (formerly ValueWalk Premium).

At Hedge Fund Alpha (formerly ValueWalk Premium), we’ve been hard at work to bring you this Q3 2025 Special Edition issue of Hidden Value Stocks over the summer (the regular edition of Q4 will still be coming out in October).

Jacob Wolinsky, Founder, Hedge Fund Alpha

Michelle deBoer-Jones, Editor-in-Chief, Hedge Fund Alpha

Introduction to Andrew Reider, Gustavo Campanha and WHG Asset Management

WHG Asset Management’s Global Long Bias Fund is up a phenomenal 20.3% year to date following a commanding second quarter.

In an interview with Hedge Fund Alpha, Andrew Reider and Gustavo Campanha of WHG shared an in-depth look into how they’ve been winning this year - and some stocks that are top of mind right now.

Background on Andrew Reider

Reider has been working on the buy side for over 20 years after studying economics at Harvard and then moving on to investment banking. Reider then worked at Moon Capital, a long/short emerging markets-focused hedge fund that was spun off from Oaktree Capital Management. He covered technology, with a focus on semiconductors. He left Moon Capital to work at another fund, Calypso Capital, which focuses on Europe. Reider covered infrastructure and services during the four years he spent there, which included the financial crisis.

“It was a great time because we managed to be positive in 2008, a great learning experience,” he said. “But then after a few years there Europe was undergoing a financial crisis. They were at the center of the storm, and Brazil was probably at the highs. So a lot of my friends and colleagues that were Brazilian were moving back to Brazil, and a friend introduced me to the largest hedge fund at the time in Brazil, which is still one of the pioneers and most well-known brands here in Brazil, called Verde, which means ‘green.’”

Reider joins forces with Campanha

It was at Verde that Reider met Campanha after he moved back to Brazil in early 2012, spending half of his career in New York and half in Brazil. Reider spent five years doing long/ short global equities in a generalist role at Verde before going to Brazil’s largest family office, Brasil Warrant, which has offices in New York. Campanha worked with Reider at the family office, where he spent four years managing the internal fund before joining with Campanha to open Brazil-based WHG Asset in April 2021.

WHG has a wealth management side and an asset management side, and Reider manages the asset management side. The firm’s flagship fund is the long/ short WHG Global Long Bias Fund, which is similar to what Reider and Campanha have been doing throughout their careers.

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Introduction to Ryan O’Connor and Crossroads Capital

Crossroads Capital has returned a blistering 26.1% year to date following an incredible 23.8% return in June.

Since the fund’s inception nine years ago, it has significantly outperformed its benchmarks and the S&P 500, generating an annualized return of 16.99% and a cumulative return of 315.84%.

A family legacy that started with lessons from Warren Buffett

Crossroads founder and Portfolio Manager Ryan O’Connor says he “caught the value investor bug” while in high school, when his grandfather gave him some shares of Berkshire Hathaway.

In fact, O’Connor’s grandfather, Bill O’Connor, a salesman at IBM, frequently played poker with Warren Buffett. He also sold Buffett his first typewriter and taught him how to use it, leading him to become an original limited partner for the Buffett Partnerships, later rolled into Berkshire Hathaway. This connection served to kickstart O’Connor’s interest in - and journey into - the investing world.

The first stocks he discovered on his own were Brookfield Asset Management and Markel around 2004, not long after he left university and “fell in love with value investing hard.”