Lemonade Inc

Lemonade is a property and casualty insurance company built from the ground up on AI. This innovative approach positions it well within the evolving insurance landscape, leveraging technology to enhance efficiency and customer experience. The manager believes that Lemonade's unique business model and focus on artificial intelligence will drive its growth and competitive advantage in the market.

Lemonade continues to impress and remains a very high-conviction name in the Jonagold portfolio. With Agentic AI now running a majority of their back-end operations, we see immense potential for operating leverage as they scale their trusted, Gen-Z friendly brand. We will look to add to our position as we accumulate additional capital.

Lemonade continues to impress and remains a very high-conviction name in the Jonagold portfolio. With Agentic AI now running a majority of their back-end operations, we see immense potential for operating leverage as they scale their trusted, Gen-Z friendly brand. We will look to add to our position as we accumulate additional capital.

Lemonade reported phenomenal earnings, continuing to demonstrate extreme operating leverage and a compelling roadmap for new products. Despite the risk-off environment seen in March, which caused shares to fall sharply from their post Investor Day high of $53, the underlying business performance gives us confidence in its long-term prospects. The market's reaction does not reflect the strength of Lemonade's operational execution and growth potential, reinforcing our bullish stance on the company.

Lemonade reported phenomenal earnings, continuing to demonstrate extreme operating leverage and a compelling roadmap for new products. Despite the risk-off environment seen in March causing shares to fall sharply from their post Investor Day high of $53, the underlying business remains strong. The manager expresses confidence in Lemonade's long-term prospects, indicating that the market's reaction does not reflect the company's operational success and future potential.

We introduced Lemonade as a new optionality position, reflecting our belief in its disruptive growth potential. The current market environment, characterized by increased uncertainty and compelling valuations, has made us excited about investment opportunities like Lemonade. We see it as a business that can create more value in its ecosystem than it takes, aligning with our investment philosophy of seeking resilient companies that can thrive amid volatility.

We introduced Lemonade as a new optionality position, reflecting our belief in its disruptive growth potential. The current market environment, characterized by increased uncertainty and compelling valuations, has made us excited about investment opportunities like Lemonade. We see it as a business that can create more value in its ecosystem than it takes, aligning with our investment philosophy focused on resilience and adaptability in a volatile market.

Lemonade reported phenomenal earnings, continuing to demonstrate extreme operating leverage and a compelling roadmap for new products. Despite the risk-off environment seen in March, which caused shares to fall sharply from their post Investor Day high of $53, the underlying business remains strong. The manager expresses confidence in Lemonade's long-term prospects, indicating that the current market reaction does not reflect the company's potential.

We introduced Lemonade as a new optionality position, reflecting our belief in its disruptive growth potential. The current market environment, characterized by increased uncertainty and compelling valuations, has made us excited about investment opportunities like Lemonade. We see it as a business that can create more value in its ecosystem than it takes, aligning with our investment philosophy focused on resilience and disruption.

Lemonade reported phenomenal earnings, continuing to demonstrate extreme operating leverage and a compelling roadmap for new products. Despite the risk-off environment seen in March causing shares to fall sharply from their post Investor Day high of $53, the underlying business remains strong. This performance gives us confidence in Lemonade's long-term prospects as it continues to innovate and expand its offerings.