Bilbel Capital, an investment management company, released its second-quarter 2026 investment letter. The letter can be downloaded here. The strategy returned -15.7%, gross and -16.1%, net, in the first half of 2026, compared to a 10.2% return for the S&P 500 Index. The letter outlines top positions, all acquired under 3.5 times a normal year's profit, emphasizing strong balance sheets. The strategy uses Argus to rapidly **** yze publicly available data on 15,000 investable stocks to identify the top 1% of undervalued opportunities. Also, check the fund's top five holdings to see its best picks in 2026.
In its Q2 2026 investor letter, Bilbel Capital highlighted CareCloud, Inc. (NASDAQ:CCLD). CareCloud, Inc. (NASDAQ:CCLD) is a healthcare information technology company. On August 24, 2026, CareCloud, Inc. (NASDAQ:CCLD) closed at $2.50 per share, reflecting a market capitalization of $106.24 million. CareCloud, Inc. (NASDAQ:CCLD) posted a one‑month return of 5.93%, while its shares lost 32.07% over the past 52 weeks.
Bilbel Capital stated the following regarding CareCloud, Inc. (NASDAQ:CCLD) in its Q2 2026 investor letter:
"We think CareCloud, Inc. (NASDAQ:CCLD) is undervalued. But we found companies that are more undervalued. So we sold most of our CareCloud shares to buy them. CareCloud's value mainly depends on how many customers it keeps, and how AI will impact their profits. How much revenue did CareCloud keep from last year? CareCloud bought 4 companies in 2025, after Q1. Including their revenue in Q1 2025, Q1 2026 revenue was 15% lower.
Reported TEBS revenue rose 30%. But without acquisitions it fell 5.6%. This is within CareCloud's normal 4% to 6% 'structural churn'. Meaning: doctors retiring, practices closing, or hospitals taking over practices and moving billing elsewhere..." (Click here to read the full text)

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