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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
For the quarter ended September 30, 2025, Ariel Appreciation Fund advanced +9.51%, outperforming the Russell Midcap Value Index (+6.18%) and the Russell Midcap Index (+5.33%). Top contributors included...
— John W. Rogers
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Other investors who've written on CarMax Inc.
CarMax is navigating macro headwinds in used auto retail caused by high interest rates and tight inventory of late-model vehicles. However, early signs...
CarMax reported solid quarterly performance with volumes responding well to targeted pricing. However, the manager...