| ANNUALIZED SINCE INCEPTION | QUARTERLY | YTD |
|---|---|---|
| - | -8.45% | -8.45% |
Torre Financial's Model Portfolio declined 8.45% in Q1 2026 versus the S&P 500's 4.37% decline, primarily due to geopolitical shocks from Iranian military conflict that disrupted oil supply and reset inflation expectations higher. The portfolio, which holds no energy names as a hedge, felt the full impact of the broad market repricing. Despite the drawdown, the underlying investment thesis remains intact, focused on high-quality businesses with superior returns on capital, durable competitive advantages, and strong cash flow generation. Top performers included infrastructure and industrial names benefiting from AI-driven data center buildout and energy transition spending, led by Comfort Systems and GE Vernova. Detractors were high-quality franchises where fundamental theses remain sound but near-term sentiment shifted, including Booking Holdings and Abbott Labs. The manager emphasizes that drawdowns are the price of admission for quality investing and plans to reduce portfolio activity going forward, allowing businesses to compound. The portfolio remains fully invested with a constructive outlook supported by solid employment and accelerating AI capital spending.
Building a portfolio of businesses with high returns on capital, durable growth, and deep competitive advantages that compound wealth over time through superior cash flow generation and operational efficiency.
The oil shock has introduced a new variable, but the base case remains constructive. Employment is solid, AI-driven capital spending continues to accelerate, and portfolio companies are positioned on the right side of that spend.
| Date | Letter | Tickers | Keywords | Pitches | Quick Takes |
|---|---|---|---|---|---|
| Apr 11 2026 | 2026 Q1 | ABT, ALSN, ASML, BKNG, FIX, GEV, LIN, MELI, SPGI, TMO | AI, energy, industrials, infrastructure, Quality, semiconductors, technology |
FIX GEV ASML ALSN LIN BKNG ABT SPGI TMO MELI |
Torre Financial's quality-focused portfolio underperformed in Q1 due to geopolitical oil shocks, declining 8.45% versus 4.37% for the S&P 500. Infrastructure and AI-beneficiary holdings led performance while travel and healthcare names lagged on sentiment shifts. The manager maintains conviction in high-quality businesses with superior economics and plans fewer trades going forward to let companies compound. |
| Jan 3 2026 | 2025 Q4 | ADBE, AMZN, ANET, ASML, CRM, FDS, GOOGL, LLY, META, MSFT, NVDA, PYPL, TSM, UBER, UNH | AI, competition, growth, healthcare, Quality, technology, value | - | Torre Financial underperformed in 2025 with 8.5% returns versus the S&P 500's 17.7%, as AI-driven momentum favored growth over quality. Strong performers included AI beneficiaries Alphabet, ASML, and TSMC, while competition concerns hurt FactSet, PayPal, and Adobe positions which were exited. The manager maintains conviction in high-quality companies for long-term outperformance. |
| Oct 11 2025 | 2025 Q3 | ADBE, AMD, AMZN, ANET, ASML, CRM, FDS, GOOGL, INTU, MELI, META, MSFT, NVDA, ORCL, TMO, TSM | AI, growth, healthcare, Quality, semiconductors, technology, Valuations | - | Torre Financial underperformed in Q3 as AI stocks dominated, but maintains quality focus with superior fundamentals at cheaper valuations. Exited AI-threatened software companies while keeping exposure to AI infrastructure winners. Despite market frothiness and concentrated performance, the manager stays committed to resilient portfolio construction with high-quality companies exhibiting strong returns on capital and competitive advantages. |
| Jul 5 2025 | 2025 Q2 | ADC, ANET, CRCL, FDS, INTU, MA, MELI, META, PEP, TMO, UNH, V, VEEV | diversification, long-term, Quality, Resilience, technology, value |
UNH V MA |
Torre Financial's quality-focused portfolio underperformed in Q2's tech-driven rally, gaining 6.9% versus S&P 500's 10.8%. Strong technology performers offset weakness in defensive sectors, particularly UnitedHealth which was exited completely. The diversified portfolio of 25-30 high-quality companies maintains superior fundamentals and cheaper valuations, positioning for long-term resilience despite near-term market frothiness and rotation risks. |
| Apr 12 2025 | 2025 Q1 | ABT, ADBE, ADC, AMZN, CRM, EW, FDS, GOOGL, ICE, INTU, MCO, MELI, META, MSCI, PYPL, SPGI, TMO, UNH, V, WDAY | AI, healthcare, payments, Quality, technology, Trade Policy, volatility | - | Torre Financial outperformed during Q1's bear market decline through quality positioning in diversified high-margin companies. Technology detractors faced AI disruption and tariff impacts while healthcare and financial services holdings provided resilience. With VIX above 50 historically signaling strong forward returns and cash available for deployment, the portfolio is well-positioned for market recovery. |
| Oct 12 2024 | 2024 Q3 | ABNB, ABT, ADBE, ADC, AMT, AMZN, CRWD, DHR, EW, FDS, GOOGL, ICE, MCO, MELI, PYPL, SPGI, TMO, TTD, UNH, ZS | diversification, healthcare, Quality, REITs, Resilience, technology, value | - | Torre Financial outperformed with 8.0% Q3 returns through systematic diversification beyond technology into healthcare, REITs, and risk management. PayPal and REITs led gains while Edwards Lifesciences declined on TAVR outlook. Exited high-growth software due to valuation risks. Portfolio now offers superior margins and 3.7% FCF yield with high management confidence. |
| Jul 6 2024 | 2024 Q2 | ADBE, ADC, CRM, CRWD, GOOGL, PYPL, TEAM, TTD, VEEV, WDAY | AI, cybersecurity, Enterprise Software, growth, Quality, SaaS, technology, Value Investing |
CRWD GOOGL TTD ADBE ADC VEEV WDAY CRM PYPL TEAM |
Torre Financial's Q2 letter showcases a quality-focused portfolio weathering AI-driven enterprise software headwinds. While cybersecurity leader Crowdstrike and AI-enabled Alphabet drove performance, SaaS holdings faced pressure from elongated sales cycles and AI displacement fears. Torre views these concerns as temporary, maintaining conviction in high-quality companies trading at attractive valuations relative to fundamentals. |
| Mar 30 2024 | 2024 Q1 | ABNB, ADBE, ADC, CRWD, EW, META, TEAM, TTD, UNH, ZS | Advertising, growth, healthcare, Quality, REITs, software, technology |
TEAM ADBE ZS ADC UNH |
Torre Financial's quality-focused portfolio returned 7.6% in Q1, lagging the S&P 500 due to semiconductor exposure gaps. Strong performers like Meta and CrowdStrike demonstrate the power of AI and cybersecurity leadership, while the manager uses weakness in names like Adobe and Zscaler as buying opportunities, maintaining conviction in superior fundamentals at attractive valuations. |
| Jan 6 2024 | 2023 Q4 | AAP, AZO, COST, CRM, GE, IDXX, INTU, MC.PA, MSFT, ORLY, RMS.PA, TMO, UNH | Auto Parts, healthcare, long-term, Quality, software |
AVGO|BYD|CRWD|MELI|MSFT|NFLX|NVDA|NVO|ORLY|SPOT CRM |
LongRun Equity's concentrated quality strategy underperformed in Q2 due to healthcare weakness and AI rotation dynamics. Strong performance from GE Aerospace, software leaders, and new positions in O'Reilly Automotive and Salesforce offset declines in Thermo Fisher and the full exit from UnitedHealth. Portfolio fundamentals remain robust with management expecting low double-digit forward returns. |
| Sep 30 2023 | 2023 Q3 | 0700.HK, ACN, ADBE, ASML, CDNS, COST, GE, GOOGL, INTU, IT, LIN, MA, MSCI, MSFT, OR.PA, PG, RELX.L | aerospace, Compounding, concentrated, Consumer Staples, long-term, Quality, software, technology |
CDNS 0GEG LN |
LongRun Equity's concentrated quality portfolio declined 6.6% in Q1 as technology holdings suffered from risk-off sentiment despite solid fundamentals. Consumer staples provided defense while Tencent and Linde led performance. The fund opportunistically added Cadence Design Systems and GE Aerospace at attractive valuations, both offering durable double-digit growth with strong competitive moats. |
| Jul 8 2023 | 2023 Q2 | 6367.T, ADYEY, AMD, ANSS, ASML, CDNS, FI, GOOGL, JNJ, LIN, LRCX, LZAGY, MCHP, MEDP, MSFT, NFLX, NOW, NVDA, NVO, ON, PGR, SWAV, TSLA, TSM, TXN, WISE.L | AI, global, growth, innovation, large cap, semiconductors, technology | - | NZS Growth delivered 15.3% in Q1 2024, outperforming on semiconductor strength and selective stock picking. The fund trimmed expensive software while adding to cycle-low semiconductor manufacturers and diversifying into financials, industrials, and healthcare. They take a cautious approach to AI valuations, favoring infrastructure suppliers over direct beneficiaries in the early stages of digital transformation. |
| Apr 15 2023 | 2023 Q1 | 7741.T, ADSK, ADYEN.AS, AMZN, APH, ASML, BALL, CCJ, CDNS, CMG, DHR, DOXI, FAST, FISV, GOOG, HXGN, LIN, MCHP, MELI, MSFT, NEE, OKTA, PGR, RGEN, WDAY | Adaptability, AI, global, growth, innovation, semiconductors, technology | ACGL|APH|COO|CSGP|DKNG|GWRE|IDXX|IOT|IT|LPLA|MSCI|MTD|PCOR|ROP|TECH|VRSK | NZS Growth lagged in Q3 on semiconductor and payments weakness but maintains conviction in digital transformation thesis. Added uranium exposure via Cameco for energy transition. Expects AI to drive unprecedented productivity gains and business model disruption. Positioned for physical world innovation including electrification while reducing software exposure. Anticipates wider winner-loser bifurcation favoring adaptive, innovative companies. |
| Jan 7 2023 | 2022 Q4 | - | - | - | |
| Oct 8 2022 | 2022 Q3 | - | - | - | |
| Jul 2 2022 | 2022 Q2 | - | - | - |
| QUARTER | THEMES | TAGS |
|---|---|---|
| 2026 Q1 |
AIAI-driven productivity gains are beginning to show through in corporate margins. AI-driven capital spending continues to accelerate, and portfolio companies are positioned on the right side of that spend. The manager is using AI tools to deepen research and decision-making processes. |
Data Centers Productivity Capital Spending Infrastructure Research |
Data CentersComfort Systems benefits from the massive buildup of data center infrastructure across the U.S., where its mechanical and electrical contracting services are in high demand. GE Vernova sits at the intersection of grid modernization and the electrification wave driven by AI and data center power demand. |
Infrastructure Electrical Grid Power Buildout | |
Energy TransitionGE Vernova sits at the intersection of grid modernization and the electrification wave. Industrial and infrastructure holdings are benefiting from multi-year secular spending trends tied to energy transition and AI-enabling capex. |
Grid Electrification Infrastructure Secular Capex | |
SemiconductorsASML remains the sole supplier of EUV lithography equipment and a bottleneck for advanced semiconductor manufacturing. ASML's order book and pricing power are insulated from near-term demand swings. |
EUV Lithography Manufacturing Pricing Power Advanced | |
QualityThe portfolio focuses on proven, high-quality businesses with high returns on capital, durable competitive advantages, and long runways for growth. Portfolio companies convert capital into cash flow more efficiently with superior margins and stronger balance sheets than the broader market. |
Returns Competitive Advantages Cash Flow Margins Balance Sheets | |
| 2025 Q4 |
AIAI race has drawn in technology companies and nation states, with massive capital spending from major tech companies leading to Nvidia becoming the first 5 trillion market cap company. The US has launched the Genesis Mission to ensure dominance in AI. AI-related names performed well in 2025, with Google emerging as an AI leader. |
Artificial Intelligence Technology Capital Spending Nvidia Genesis Mission |
Data CentersHuge growth for data centers and all related parties driven by AI capital spending from major technology companies. This infrastructure build-out is supporting the broader AI ecosystem development. |
Infrastructure Technology Cloud AI Infrastructure | |
QualityHigh quality, cash-flowing companies were not particularly sought after in 2025, with many high quality compounders selling off significantly. The portfolio focuses on investing in strong, proven businesses with attractive business models, competitive advantages, and durable growth. |
Value Investing Cash Flow Competitive Advantages Business Models | |
MomentumMomentum and Growth factors led the market in 2025, with Technology and Communications sectors pulling up the entire S&P 500's performance with very little breadth. Risk assets were the strongest performers of the year. |
Growth Investing Technology Market Leadership | |
| 2025 Q3 |
AIAI-related capex spend is boosting the stock market with hyperscalers spending nearly $450 billion in 2025. The AI economy including semiconductors, energy, and data center construction have been clear winners while the rest of the market has struggled. Many large AI infrastructure deals have been announced, benefiting companies like Nvidia, OpenAI, Oracle, and AMD. |
Semiconductors Data Centers Capex Infrastructure Hyperscalers |
SemiconductorsSemiconductor companies have been major beneficiaries of AI spending with TSMC as the undisputed best foundry making chips for Nvidia, Google, and Meta. ASML is a key supplier building critical EUV lithography machines needed for advanced chips. The semiconductor cycle is being driven by AI infrastructure investments. |
Foundries EUV Lithography Chip Manufacturing AI Infrastructure | |
QualityThe manager emphasizes investing in companies with strong returns on capital, competitive advantages, and durable growth. The portfolio exhibits superior margins, stronger balance sheets, and higher free cash flow returns compared to the market while being significantly cheaper with better fundamentals. |
ROIC Competitive Advantages Margins Balance Sheets Fundamentals | |
| 2025 Q2 |
AIThe AI boom continues to drive market performance, particularly benefiting technology companies. AI represents an ongoing catalyst supporting the tech sector's strong performance in Q2. |
Artificial Intelligence Technology Growth Innovation |
QualityTorre Financial focuses on investing in high quality companies with strong returns on capital, durable growth opportunities, and competitive advantages. The portfolio emphasizes companies with high margins, strong cash flow, and robust balance sheets that provide resilience and optionality. |
High Quality Returns Competitive Advantages Resilience Balance Sheets | |
ResilienceThe portfolio is built for resilience with companies that have high margins, high cash flow, and strong balance sheets. These characteristics provide optionality and the ability to handle turbulence while taking advantage of temporary market dips. |
Defensive Cash Flow Balance Sheet Optionality | |
| 2025 Q1 |
AIAI is driving significant changes in how people work, automating functions across sales, marketing, customer service, and software development. There is opportunity for new leaders in this space, though concerns exist about potential disruption to companies like Adobe and Alphabet. However, both companies are at the leading edge of AI solutions within enterprise contexts. |
Automation Enterprise Disruption Innovation Workplace |
Trade PolicyTrump's tariffs have accelerated market sell-off into a full bear market. The global economy is being challenged as the Trump administration addresses federal deficit and trade imbalances. Many American companies rely on international sales and the current dynamic pressures the largest companies including the Magnificent 7. |
Tariffs Trade Global Deficit International | |
VolatilityThe volatility index (VIX) has spiked above 50. Forward returns have been very favorable after such events in the past, with average returns of +35%, +55%, and +129% the following 1, 3, and 5 year periods. After two calm years with strong market results, volatility has come back with vigor. |
VIX Returns Market Turbulence Cycles | |
PaymentsThe secular shift to digital transactions is still underway and has a lot of room to run. Payment companies like Mastercard, Visa, and PayPal benefit from inflation as gross merchandise volume increases. However, PayPal faces competitive pressures with concerns about fundamental core value for consumers and merchants. |
Digital Transactions Inflation Competition Volume | |
QualityThe portfolio focuses on highest quality companies with strong returns on capital, competitive advantages, and durable growth. These companies have higher than average gross margins and are best equipped to handle turbulence. The portfolio exhibits superior margins across the board and significantly cheaper valuations than the index. |
Margins Returns Competitive Durable Valuation | |
| 2024 Q3 |
DiversificationManager has systematically diversified portfolio beyond technology into healthcare, real estate, and risk management companies over the past two years. This diversification has helped decrease volatility and provided better downside protection when markets declined. |
Healthcare REITs Risk Management Technology Volatility |
QualityFocus on high-quality companies with high returns on capital, competitive advantages, and durable growth. Portfolio companies exhibit superior margins across the board, more efficient capital use, and less leverage compared to the S&P 500. |
ROIC Margins Capital Efficiency Competitive Advantages Leverage | |
REITsAdded real estate positions including Agree Realty and American Tower. REITs benefited from Fed rate cuts in September and provide stability, growth, and cash flow through monthly rent payments that are distributed as dividends. |
Real Estate Dividends Cash Flow Rate Cuts Stability | |
ResiliencePortfolio construction focused on resilience through healthcare companies whose demand is not economy-dependent, risk management companies that become more valuable during volatility, and exiting high-growth software companies with significant stock-based compensation risks. |
Healthcare Antifragile Volatility Risk Management Defensive | |
| 2024 Q2 |
AIAI is transforming enterprise software with companies like Google demonstrating quick execution through Gemini AI integration and Google Search gen-AI answers. Adobe's FireFly is being deeply integrated across their product suite, showing enterprises need tailored AI solutions rather than consumer-facing generative AI. AI usage in the workplace remains limited to chatbots, enterprise search, copilots, and content summarization, with transformational employment shifts yet to materialize. |
Artificial Intelligence Machine Learning Generative AI Enterprise AI AI Integration |
Enterprise SoftwareEnterprise SaaS companies faced pressure in Q2 due to concerns about AI efficiencies reducing employee counts and elongated sales cycles as companies reassess AI strategies. Smaller SaaS companies worry about mega-cap tech companies replicating their offerings with embedded AI. However, these concerns are viewed as transient, with AI more likely to increase global output rather than reduce employment. |
SaaS Enterprise Software Software Solutions B2B Software Cloud Software | |
CybersecurityCybersecurity is viewed as mission-critical for enterprises of all sizes, with Crowdstrike emerging as the next-generation leader through their cloud-native solutions and expanding platform offerings. The company has demonstrated consistent strong revenue growth and high profitability, appearing as a top performer for three consecutive quarters. |
Cybersecurity Cloud Security Enterprise Security Security Solutions Threat Protection | |
| 2024 Q1 |
AIMeta is well positioned as a leader in the AI movement. Adobe has come out very strong in the rise of AI with their professional tools quickly incorporating many new generative-AI technologies. |
Artificial Intelligence Generative AI Technology |
CybersecurityCrowdStrike is a leader in the cybersecurity space and is now seen as a credible, next-generation challenger to Palo Alto Network's dominance. Cybersecurity continues to be a compelling space with Zscaler operating at the core, protecting networks with zero trust solutions. |
Zero Trust Network Security Enterprise Security | |
| 2023 Q4 |
AISoftware companies like Intuit and Microsoft increased by around 30% as the market pushed their rating higher thanks to their near impenetrable market positions which are likely to be further solidified through the use and successful monetization of artificial intelligence. Salesforce is positioned to augment its strong position further via the use of operational AI agents, such as its Agentforce initiative. |
Software Monetization Agents Positioning |
Auto AftermarketO'Reilly Automotive operates in the consolidating U.S. aftermarket auto parts retail market, benefiting from industry growth drivers including increases in miles driven and vehicle age. The company has built competitive advantages through outstanding customer service, high touch sales force, and spare parts availability, resulting in consistent same store sales growth of 6.5% over the last ten years. |
Parts Retail Distribution Service | |
QualityThe fund focuses on companies with superior economics, strong market positions, pricing power, high margins and asset-light business models that result in high returns on capital. Portfolio companies demonstrate strong competitive advantages with 76% having high strength competitive advantage and 100% having high switching costs. |
Margins Returns Moats Pricing Power | |
| 2023 Q3 |
QualityThe fund focuses on high-quality companies with superior economics, strong market positions, pricing power, high margins and asset-light business models. These characteristics result in high returns on capital and the ability to compound earnings over the long term. |
Competitive Advantage Pricing Power Returns Margins Compounding |
SoftwareSoftware represents 14% of the portfolio by weight. The fund invested in Cadence Design Systems, a leading provider of semiconductor design software with mission-critical EDA solutions that control over two-thirds of their target market alongside Synopsis. |
EDA Semiconductors Mission Critical Market Share Recurring | |
AerospaceThe fund built a position in General Electric Aerospace, which dominates the narrowbody engine segment and controls around half of the widebody engine market. The aircraft engine market is characterized by near insurmountable barriers to entry, punitive switching costs and a large profitable aftermarket. |
Barriers Switching Costs Aftermarket Engines Pricing Power | |
| 2023 Q2 |
AIThe fund discusses being in the early stages of an AI bubble where long-term promise is significant but near-term corrections are expected. They take a prudent approach to AI exposure, being careful on valuation and more inclined toward suppliers to the spending spree rather than direct beneficiaries. |
Artificial Intelligence Bubble Valuation Suppliers Infrastructure |
SemiconductorsSemiconductor stocks were particularly strong in the quarter, with NVIDIA leading gains as it sits atop the AI boom. The fund believes catalog semiconductor manufacturers offer narrower range of outcomes in a world increasingly dependent on semiconductors, adding to Texas Instruments and Microchip near the tail-end of a historically weak cycle. |
Chips NVIDIA Cycle Manufacturing Equipment | |
InnovationThe fund focuses on growth through innovation and disruption, seeking to capitalize on change as innovation ripples through every sector. They believe innovative companies are chipping away at markets traditionally controlled by large established players in areas like payment processing, money transfer, and banking in developing markets. |
Disruption Technology Growth Change Markets | |
| 2023 Q1 |
AIAI marks a new wave of productivity advances, potentially more impactful than the last 40 years. The infrastructure for AI is mostly in place, unlike previous innovation cycles. AI will bring substantial changes to business models and could be an important driver for deflation. |
Artificial Intelligence Productivity Business Models Infrastructure Deflation |
SemiconductorsSemiconductors are the building blocks of the analog-to-digital economic transformation, including the important rise of AI models. The fund maintains meaningful exposure despite near-term cyclical concerns, believing in robust long-term prospects for companies like Microchip and ASML. |
Digital Transformation Cyclical Equipment Memory Foundries | |
Energy TransitionThe transition of energy infrastructure and innovation led to investment in Cameco, a uranium miner helping shift to greener energy. Nuclear power represents a key component of the clean energy transition. |
Nuclear Uranium Clean Energy Infrastructure Green Energy | |
AutomationCompanies are experimenting with collaborative robots and automation to solve structural labor issues. Chipotle is testing cobots for burrito bowl preparation and customer service streamlining. Every company should be thinking like a tech company regardless of industry. |
Robotics Labor Efficiency Technology Innovation | |
Healthcare SoftwareThe fund finds opportunities across life sciences tools companies that will benefit from AI in healthcare driving greater velocity and efficiency of drug development. The tools sector has been in post-Covid inventory correction but is moving toward normalized levels. |
Life Sciences Drug Development Tools Efficiency AI Healthcare |
| Date | Pitch Type | Author | Ticker | Company | Industry | Sub Industry | Bull / Bear | Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|---|
| Apr 11, 2026 | Fund Letters | Torre Financial | FIX | Comfort Systems USA Inc | Engineering & Construction | Construction & Engineering | Bull | New York Stock Exchange | AI infrastructure, backlog, construction, data centers, Electrical Contracting, infrastructure, Mechanical Contracting | Login |
| Apr 11, 2026 | Fund Letters | Torre Financial | GEV | GE Vernova Inc | Specialty Industrial Machinery | Electrical Equipment | Bull | New York Stock Exchange | AI infrastructure, data centers, Electrification, energy equipment, Grid modernization, Power generation, utilities | Login |
| Apr 11, 2026 | Fund Letters | Torre Financial | ASML | ASML Holding NV | Semiconductor Equipment & Materials | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | Advanced Manufacturing, EUV lithography, Monopoly, order book, Pricing power, semiconductor equipment, technology | Login |
| Apr 11, 2026 | Fund Letters | Torre Financial | ALSN | Allison Transmission Holdings Inc | Auto Parts | Automotive Parts & Equipment | Bull | New York Stock Exchange | commercial vehicles, compounder, Defense, Electrification, Heavy-duty trucks, hybrid vehicles, Transmissions | Login |
| Apr 11, 2026 | Fund Letters | Torre Financial | LIN | Linde plc | Specialty Chemicals | Chemicals | Bull | New York Stock Exchange | defensive, Industrial Gases, materials, operational efficiency, Pricing power, Quality, Resilient Business | Login |
| Apr 11, 2026 | Fund Letters | Torre Financial | BKNG | Booking Holdings Inc | Travel Services | Hotels, Restaurants & Leisure | Bull | NASDAQ | Airfare, Consumer Discretionary, oil prices, Online Travel, Short-term Concerns, travel demand, value opportunity | Login |
| Apr 11, 2026 | Fund Letters | Torre Financial | ABT | Abbott Laboratories | Medical Devices | Health Care Equipment & Supplies | Bull | New York Stock Exchange | Base Business, defensive, Diversified Healthcare, healthcare, Medical devices, Sector Rotation, steady growth | Login |
| Apr 11, 2026 | Fund Letters | Torre Financial | SPGI | S&P Global Inc | Financial Data & Stock Exchanges | Financial Services | Bull | New York Stock Exchange | Capital markets, credit ratings, financial services, Fundamentally Sound, Index Business, Issuance Volumes, Near-term Headwind | Login |
| Apr 11, 2026 | Fund Letters | Torre Financial | TMO | Thermo Fisher Scientific Inc | Diagnostics & Research | Life Sciences Tools & Services | Bull | New York Stock Exchange | biotech funding, China exposure, End Market Recovery, Healthcare Tools, Laboratory Equipment, life sciences, Research Spending | Login |
| Apr 11, 2026 | Fund Letters | Torre Financial | MELI | MercadoLibre Inc | Internet Retail | Broadline Retail | Bull | NASDAQ | Credit Portfolio, digital payments, e-commerce, Emerging markets, Fintech, Gmv Growth, Latin America | Login |
| Jul 5, 2025 | Fund Letters | Torre Financial | UNH | UnitedHealth Group | Health Care | Health Care Plans | Bear | NYSE | Exit Position, Government Programs, health insurance, Healthcare Plans, managed care, Medicaid, Medical costs, Medicare, Operational Risk | Login |
| Jul 5, 2025 | Fund Letters | Torre Financial | V | Visa Inc. | Information Technology | Data Processing & Outsourced Services | Bull | NYSE | Competitive Moats, cryptocurrency, digital payments, distribution network, financial technology, network effects, Payment Networks, stablecoins, value-added services | Login |
| Jul 5, 2025 | Fund Letters | Torre Financial | MA | Mastercard Incorporated | Information Technology | Data Processing & Outsourced Services | Bull | NYSE | Competitive Moats, cryptocurrency, digital payments, distribution network, financial technology, network effects, Payment Networks, stablecoins, value-added services | Login |
| Jul 1, 2025 | Fund Letters | Torre Financial | AVGO|BYD|CRWD|MELI|MSFT|NFLX|NVDA|NVO|ORLY|SPOT | O'Reilly Automotive | Consumer Discretionary | Specialty Retail | Bull | NASDAQ | aftermarket, Antifragile, automotive, Defensive growth, distribution network, DIY, high-ROIC, market share gains, negative working capital, Parts Distribution, professional services, Specialty retail | Login |
| Jul 1, 2025 | Fund Letters | Torre Financial | CRM | Salesforce | Information Technology | Software | Bull | NYSE | AI agents, Cloud software, CRM, Enterprise software, margin expansion, market leader, operating leverage, Pricing power, SaaS, subscription revenue, Underearning, Workflow Integration | Login |
| Apr 1, 2025 | Fund Letters | Torre Financial | CDNS | Cadence Design Systems | Information Technology | Application Software | Bull | NASDAQ | duopoly, EDA software, Mission-Critical, Pricing power, semiconductors, subscription model, technology | Login |
| Apr 1, 2025 | Fund Letters | Torre Financial | 0GEG LN | General Electric Aerospace | Industrials | Aerospace & Defense | Bull | NYSE | Aerospace, aftermarket services, Aircraft engines, barriers to entry, Joint venture, Pricing power, switching costs | Login |
| Jul 6, 2024 | Fund Letters | Torre Financial | CRWD | CrowdStrike Holdings Inc | Software & Services | Systems Software | Bull | NASDAQ | cloud-native, cybersecurity, Enterprise software, growth, platform, SaaS | Login |
| Jul 6, 2024 | Fund Letters | Torre Financial | GOOGL | Alphabet Inc | Software & Services | Internet Software & Services | Bull | NASDAQ | Artificial Intelligence, autonomous vehicles, Cloud computing, search engine, semiconductors, technology platform, Value | Login |
| Jul 6, 2024 | Fund Letters | Torre Financial | TTD | The Trade Desk Inc | Software & Services | Internet Software & Services | Bull | NASDAQ | adtech, digital advertising, Election Cycle, growth, platform, Programmatic | Login |
| Jul 6, 2024 | Fund Letters | Torre Financial | ADBE | Adobe Inc | Software & Services | Application Software | Bull | NASDAQ | Artificial Intelligence, Brand management, creative software, digital marketing, Enterprise software, turnaround | Login |
| Jul 6, 2024 | Fund Letters | Torre Financial | ADC | Agree Realty Corporation | Real Estate | Retail REITs | Bull | NYSE | defensive, dividend, Interest Rate Sensitive, REIT, Retail real estate, triple net lease, Value | Login |
| Jul 6, 2024 | Fund Letters | Torre Financial | VEEV | Veeva Systems Inc | Software & Services | Application Software | Bull | NYSE | Clinical Software, CRM Software, Healthcare Technology, life sciences, Pharmaceutical, SaaS, Value | Login |
| Jul 6, 2024 | Fund Letters | Torre Financial | WDAY | Workday Inc | Software & Services | Application Software | Bull | NASDAQ | Digital transformation, Enterprise software, financial planning, Human Resources, SaaS, Value | Login |
| Jul 6, 2024 | Fund Letters | Torre Financial | CRM | Salesforce Inc | Software & Services | Application Software | Bull | NYSE | Artificial Intelligence, CRM, Customer Data, Enterprise software, platform strategy, SaaS, Value | Login |
| Jul 6, 2024 | Fund Letters | Torre Financial | PYPL | PayPal Holdings Inc | Software & Services | Data Processing & Outsourced Services | Bull | NASDAQ | Advertising Business, Checkout Technology, Competitive pressure, digital payments, Fintech, turnaround, Value | Login |
| Jul 6, 2024 | Fund Letters | Torre Financial | TEAM | Atlassian Corporation | Software & Services | Application Software | Bull | NASDAQ | Artificial Intelligence, Customer Data, Enterprise software, SaaS, team collaboration, Value, Workflow Software | Login |
| Mar 30, 2024 | Fund Letters | Torre Financial | TEAM | Atlassian Corporation | Software & Services | Application Software | Bull | NASDAQ | Bug Tracking, Developer Tools, Enterprise software, Project Management, recurring revenue, SaaS, Software Development, team collaboration | Login |
| Mar 30, 2024 | Fund Letters | Torre Financial | ADBE | Adobe Inc. | Software & Services | Application Software | Bull | NASDAQ | Artificial Intelligence, creative software, Design Software, digital media, generative AI, market leader, Professional Tools, SaaS | Login |
| Mar 30, 2024 | Fund Letters | Torre Financial | ZS | Zscaler, Inc. | Software & Services | Systems Software | Bull | NASDAQ | cloud security, cybersecurity, Enterprise security, Information Security, Network Security, SaaS, Zero trust | Login |
| Mar 30, 2024 | Fund Letters | Torre Financial | ADC | Agree Realty Corporation | Real Estate | Retail REITs | Bull | NYSE | High Quality REIT, Investment-grade tenants, Monthly Distributions, real estate investment, REIT, Retail real estate, triple net lease | Login |
| Mar 30, 2024 | Fund Letters | Torre Financial | UNH | UnitedHealth Group Incorporated | Health Care | Managed Health Care | Bull | NYSE | defensive stock, diversification, health insurance, healthcare, Healthcare services, Low Beta, managed care | Login |
| Sep 30, 2023 | Fund Letters | Torre Financial | ACGL|APH|COO|CSGP|DKNG|GWRE|IDXX|IOT|IT|LPLA|MSCI|MTD|PCOR|ROP|TECH|VRSK | Amphenol Corporation | Information Technology | Electronic Components | Bull | NYSE | 5G, Aerospace, automotive, Connectors, data centers, Decentralized, Digitalization, Electronic Components, Industrial, M&A, Physical World Innovation, semiconductors, Sensors | Login |
| TICKER | COMMENTARY |
|---|---|
| FIX | Comfort Systems continues to benefit from the massive buildup of data center infrastructure across the U.S., where its mechanical and electrical contracting services are in high demand. Backlog remains at record levels. |
| GEV | A similar story. GE Vernova sits at the intersection of grid modernization and the electrification wave driven by AI and data center power demand. |
| ASML | The sole supplier of EUV lithography equipment remains a bottleneck for advanced semiconductor manufacturing. ASML's order book and pricing power are insulated from near-term demand swings. |
| ALSN | A quiet compounder. Allison, a leader in automatic transmissions for medium- and heavy-duty trucks, is expanding into defense/tanks, off-road trucks, and hybrid/electric drivetrain. |
| LIN | Industrial gas is a resilient business in any environment, and Linde is the best operator in the space. Consistent pricing power and operational efficiency drove steady outperformance as investors rotated toward defensive quality. |
| BKNG | Travel demand remains healthy, but Booking sold off on fears that elevated oil prices will weigh on consumer discretionary spending and airfare economics. We view the pullback as a short-term concern. |
| ABT | Abbott's base business continues to grow steadily, but the stock has been caught in the broader healthcare rotation as investors moved away from defensive names that had outperformed in prior quarters. |
| SPGI | Capital markets activity slowed. S&P Global's ratings and index businesses are fundamentally sound, but issuance volumes are a near-term headwind. |
| TMO | The life sciences end-market recovery has been slow. Biotech funding remains constrained; China exposure continues to weigh on sentiment. |
| MELI | Latin America's leading e-commerce and fintech platform sold off alongside emerging market equities broadly. A stronger dollar compounded the move. Underlying GMV and credit portfolio growth remain strong. |
| Ticker | Put/Call | Amount Bought | Shares Bought | % Change | Weight % |
|---|---|---|---|---|---|
| No Recent Buys Data | |||||
| Ticker | Put/Call | Amount Sold | Shares Sold | % Change | Weight % | Status |
|---|---|---|---|---|---|---|
| No Recent Sells Data | ||||||
| Industry | Prev Quarter % | Current Quarter % | Change |
|---|---|---|---|
| No industry data available | |||
