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Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q3	Sep 30, 2025	SGA – U.S. Large Cap Growth	-1.4%	2.8%	AAPL, CMG, GART, GOOG, GWW, INTU, NKE, NVDA, NVO, WCN, WDAY	earnings, growth, innovation, moats, technology	The commentary emphasizes sustained large-cap growth leadership supported by strong earnings, balance sheet quality, and secular technology adoption. While valuations are elevated, pricing power and margin durability among dominant franchises underpin continued growth potential. Growth remains attractive as innovation and capital discipline drive long-term earnings compounding.		View
2025 Q2	Aug 27, 2025	Antero Peak Group	20.0%	17.7%	AAPL, AMZN, AVGO, CRM, META, NVDA	Compounding, Discipline, durability, Intrinsic Value, Quality	The letter stresses disciplined ownership of high-quality, durable businesses amid volatile sentiment and shifting trade policy. Management highlights patience, selectivity, and focusing on intrinsic value rather than reacting to short-term macro noise. Quality businesses are positioned as the most reliable way to compound capital over time.		View
2024 Q2	Aug 12, 2024	Eagle Capital Management, LLC	5.1%	18.6%	AAPL, AMZN, GOOG, LLY, META, MSFT, NVDA	-			View
2024 Q2	Jul 9, 2024	Hosking Partners	0.0%	0.0%	AAL LN, AAPL, NVDA	-			View
2025 Q2	Jul 31, 2025	Fidelity Dividend Growth Fund	13.5%	7.5%	AAPL, GEV, NFLX	Balance Sheets, capital returns, Dividend Growth, income, Quality	The letter focuses on dividend growth as a source of resilient returns amid growth-driven market concentration. Management favors companies with sustainable payout growth, strong balance sheets, and capital return discipline. Dividend-paying equities are positioned for attractive risk-adjusted outcomes.		View
2025 Q2	Jul 29, 2025	RiverPark Large Growth	15.0%	6.6%	AAPL, LLY, META, MSFT, NFLX, NVDA, PEP, SBUX, UBER, UNH	Compounding, free cash flow, growth, secular trends, valuation	The commentary highlights selective large-cap growth investing focused on companies with long runways for revenue and free cash flow expansion. Management stresses discipline on valuation despite enthusiasm around secular growth trends. The outlook favors compounding businesses rather than momentum-driven winners.	PEP SBUX LLY	View
2025 Q2	Jul 28, 2025	RiverPark Long/Short Opportunity Fund	10.3%	3.9%	AAPL, MSFT, NFLX, NVDA, UNH	AI, defense, Long-Short Equity, Volatility Management		AAPL NFLX MSFT NVDA	View
2025 Q2	Jul 23, 2025	Madison Sustainable Equity Fund	6.1%	2.4%	AAPL, DHR, JPM, LLY, MSFT, NEE, ORCL, PGR, TEL, UNH	Esg, Governance, long-term, Quality, sustainability	The letter highlights sustainable investing as a source of long-term risk-adjusted returns. Management emphasizes high-quality companies that effectively manage environmental, social, and governance risks. Sustainability integration is positioned as enhancing durability and capital preservation.	UNH LLY PGR DHR NEE TEL JPM MSFT AAPL ORCL	View
2025 Q2	Jul 22, 2025	Alger Spectra Fund	29.2%	13.0%	AAPL, GLOB, META, MSFT, NVDA, UNH	Artificial Intelligence, Cloud, Data centers, growth, monetization	The letter underscores AI as a dominant secular theme powering earnings growth in large-cap technology leaders. Management highlights data center expansion, cloud adoption, and AI monetization. The outlook remains bullish on AI beneficiaries while selectively shorting structurally challenged businesses.	GLOB UNH AAPL META MSFT NVDA	View
2025 Q2	Jul 22, 2025	Columbia Global Technology Growth Fund	24.8%	-	AAPL, AVGO, FI, GPN, HOOD, MSFT, NVDA, ORCL, TMUS	AI, Cloud Computing, innovation, secular growth, semiconductors	The letter emphasizes powerful secular growth driven by artificial intelligence, cloud computing and digital infrastructure. Management highlights strong demand for semiconductors and software platforms with durable competitive advantages. Technology is viewed as a long-duration growth opportunity despite geopolitical and regulatory risks.	AAPL TMUS GPN FI HOOD ORCL MSFT AVGO NVDA	View
2025 Q2	Jul 22, 2025	Columbia Seligman Global Technology Fund	19.5%	-	AAPL, ADBE, AVGO, BE, LRCX, MRVL, MSFT, NVDA	AI Infrastructure, cybersecurity, global tech, semiconductors, valuation	The commentary focuses on global technology opportunities driven by AI infrastructure buildouts, semiconductor demand and cybersecurity needs. Management stresses bottom-up stock selection and valuation awareness within high-growth industries. Technology remains attractive despite volatility and tariff-related risks.	SYNA 6723 JP BE AAPL LRCX	View
2025 Q2	Jul 22, 2025	Harbor Capital Appreciation Fund	19.5%	7.4%	AAPL, AVGO, BSX, CEG, HUBS, MA, NFLX, NVDA, SHOP	AI Adoption, Balance Sheets, earnings momentum, innovation, Large Cap Growth	The commentary highlights resilient U.S. large-cap growth driven by AI adoption, strong earnings momentum, and corporate innovation despite tariff-related volatility. Management stresses bottom-up stock selection in companies with durable growth, pricing power, and strong balance sheets. Growth leadership is expected to broaden beyond a narrow group of mega-cap winners.	BSX SHOP HUBS	View
2025 Q2	Jul 22, 2025	Ithaka US Growth Strategy	23.0%	-	AAPL, CRM, LLY, MSFT, NOW, NVDA	Competitive Advantage, fundamentals, growth, secular trends, volatility	The commentary focuses on owning durable U.S. growth businesses with long runways supported by secular demand and strong competitive positions. Management highlights disciplined valuation awareness despite a growth-oriented mandate. Volatility is viewed as an opportunity to add to high-quality franchises at more attractive entry points.	CRM LLY AAPL NOW MSFT NVDA	View
2025 Q2	Jul 21, 2025	Renaissance Investment Management – Large Cap Growth	-	-	AAPL, APH, AVGO, DT, FI, FIX, JBL, TMO	CashFlow, growth, innovation, largecap, moat	Large-cap growth remains attractive through companies with durable competitive advantages and visible cash-flow growth. Market volatility has created entry points in high-quality franchises with long runways. The strategy prioritizes sustainable growth over short-term macro forecasting.	DT TMO FI AAPL FIX AVGO	View
2025 Q2	Jul 21, 2025	Sands Capital Technology Innovators Fund	26.0%	12.9%	AAPL, GLBE, GOOG, META, MSFT, NFLX, NVDA, OKTA, PANW, SPOT, TEAM, TSM, V	AI, Cloud, innovation, semiconductors		GLBE AAPL SPOT PANW V OKTA TEAM NFLX NVDA	View
2025 Q2	Jul 20, 2025	The London Company Income Equity	4.5%	9.1%	7974 JP, AAPL, APD, CB, MSFT, PGR, PM, UPS	dividends, income, low volatility, Quality, shareholder yield	The letter focuses on high-quality, low-volatility equity income positioned to perform through macro uncertainty. Dividend yield, balance sheet strength, and pricing power are emphasized as defenses against policy and economic risk. Shareholder yield is expected to drive a significant portion of returns.	CB APD PM MSFT	View
2025 Q2	Jul 17, 2025	Platinum International Technology Fund	18.4%	-	AAPL, KLAC	Artificial Intelligence, infrastructure, semiconductors, software, valuation	The letter centers on artificial intelligence as a transformative investment theme reshaping compute demand, software economics, and semiconductor supply chains. Management stresses valuation discipline and differentiation between true growth and hype. AI infrastructure beneficiaries are favored as early-cycle winners.	KLAC	View
2023 Q2	Jul 17, 2023	Kovitz Core Equity Strategy	8.4%	18.3%	AAPL, DGE LN, DLTR, GDDY, JPM, MSI, SCHW	-			View
2025 Q2	Jul 15, 2025	Polen Capital – Focus Growth	9.2%	2.3%	AAPL, ADBE, AMZN, IDXX, NOW, ORCL, SBUX, UNH	Concentration, growth, Margins, Quality, Reinvestment	The commentary centers on owning a concentrated portfolio of high-quality growth businesses with durable competitive advantages and long reinvestment runways. Management believes market volatility creates opportunities to add to exceptional companies whose fundamentals remain intact despite valuation compression. The outlook favors consistent organic growth and margin expansion over cyclical or macro-driven outcomes.	UNH AAPL IDXX ORCL	View
2024 Q2	Jul 12, 2024	Leaven Partners	-1.4%	7.9%	AAPL, NVDA	-			View
2024 Q2	Jul 12, 2024	Parnassus Growth Equity Fund	3.3%	21.0%	AAPL, ADYEN NA, AMAT, AZN LN, CRM, GOOG, MSCI, NTRA, NVDA, ODFL, PANW, PCOR, TSM, WDAY	-			View
2025 Q2	Jun 30, 2025	Mar Vista Global Equity Fund	-	13.0%	AAPL, BRK/A, MSFT, NVDA, ORCL	AI, Competitive Advantage, free cash flow, Quality, valuation	The letter highlights quality-focused global equities with durable competitive advantages and strong free cash flow. Management favors companies benefiting from AI, cloud, and productivity trends while maintaining valuation discipline. Quality is positioned as a defense in uncertain macro environments.	GE BRK.B AAPL NVDA ORCL MSFT	View
2025 Q2	Jun 30, 2025	Mar Vista US Quality Select	-	12.4%	AAPL, AVGO, JNJ, MSFT, ORCL	free cash flow, Governance, long-term, Quality, volatility	The commentary highlights quality as the dominant driver of long-term returns, particularly in an environment of elevated valuation dispersion. Management stresses consistent free cash flow generation, conservative capital allocation, and strong governance as key defenses against macro uncertainty. Volatility is framed as an opportunity to accumulate superior businesses rather than a signal to rotate styles.	AAPL ORCL AVGO MSFT	View
2025 Q2	Jun 30, 2025	Mar Vista US Quality Select	-	14.3%	AAPL, AVGO, JNJ, META, MSFT, MTD	Balance Sheets, Compounding, Discipline, moats, Quality	The letter emphasizes owning a concentrated portfolio of high-quality U.S. businesses with durable competitive advantages, strong balance sheets, and long reinvestment runways. Management argues that recent volatility has not impaired intrinsic value and instead offers opportunities to add to long-term compounders at more reasonable prices. The outlook remains focused on downside resilience and steady compounding rather than short-term macro forecasting.	GE JNJ MTD AAPL META MSFT AVGO	View
2024 Q2	Jun 30, 2024	Orbis Global Equity	-	-	AAPL, CPAY, GOOG, META, MSFT	-			View
2024 Q2	Jun 30, 2024	Andrew Hill Investment Advisors, Inc.	-	-	AAPL, AMZN, ISRG, JNJ, LLY, MSFT, NVDA	-			View
2024 Q1	May 9, 2024	Polen Capital – Focus Growth	3.0%	11.0%	AAPL, ADBE, AMZN, META, MSFT, NFLX, NKE, NVDA, PAYC, PYPL, TSLA, ZTS	-			View
2024 Q1	May 9, 2024	Polen Capital – Global SMID Company Growth	3.5%	9.5%	AAPL, ABNB, ADBE, AMZN, GLOB, NESR GR, NVDA, PAYC, SAP GR, SGE LN	-			View
2024 Q1	May 8, 2024	Mott Capital Management Thematic Growth Portfolio	2.8%	2.8%	AAPL, AMZN, BA, NVDA	-			View
2024 Q1	May 7, 2024	Ithaka US Growth Strategy	0.2%	0.0%	AAPL, ADBE, AMZN, LULU, MSFT, NVDA	-			View
2025 Q1	May 22, 2025	Artemis US Select Fund (Class I Accumulation Shares GBP)	-14.7%	-14.7%	AAPL, AVTR, CTVA, FIX, GOOG, SAIA, VMC, WST	-			View
2023 Q1	May 2, 2023	Tall Oak Capital Advisors	-	-	AAPL, META	-			View
2024 Q1	May 13, 2024	The London Company Large Cap	8.1%	14.6%	AAPL, APD, BRK/B, MLM, NSRGY, PGR, SBUX	-			View
2024 Q1	May 13, 2024	The London Company Income Equity	10.4%	14.6%	AAPL, APD, FAST, FIS, MSFT, PGR, SBUX	-			View
2024 Q1	Apr 27, 2024	Parnassus Growth Equity Fund	3.3%	21.0%	AAPL, ADYEY, AMAT, NTRA, TSM	-			View
2024 Q1	Apr 27, 2024	Parnassus Core Equity Fund	5.5%	18.2%	AAPL, AMAT, AZO, CHTR, DE, FI, INTC, ORCL, RHO GR, SPGI	-			View
2024 Q1	Apr 27, 2024	Montaka Global Investments	-	-	AAPL, AMD, BX, KD, MC FP, WMT	-			View
2024 Q1	Apr 25, 2024	Artemis US Select Fund (Class I Accumulation Shares GBP)	-	-	AAPL, CNM, META	-			View
2024 Q1	Apr 15, 2024	Aristotle Core Equity Fund	2.9%	21.3%	AAPL, DAR, NVDA, ZTS	-			View
2024 Q1	Apr 15, 2024	Aristotle Atlantic Core Equity Strategy	3.1%	21.7%	AAPL, DAR, NVDA, ZTS	-			View
2024 Q1	Apr 15, 2024	RiverPark Long/Short Opportunity Fund	0.6%	11.1%	AAPL, DIS, FIVN, META, NVDA, SNAP	-			View
2024 Q1	Apr 15, 2024	RiverPark Large Growth	3.7%	16.4%	AAPL, ADBE, DIS, FIVN, META, NFLX, NKE, NVDA, SNAP, UBER	-			View
2024 Q1	Apr 15, 2024	Alger Spectra Fund	3.2%	32.4%	AAPL, MBLY, META, MSFT, NVDA, TSLA	-			View
2024 Q1	Apr 15, 2024	Bireme Capital	-2.0%	-2.0%	AAPL, FOXA, HUM, RICK	-			View
2024 Q1	Apr 15, 2024	Mar Vista Global Equity Fund	7.2%	-	AAPL, ADBE, AMZN, DIS, GXO, HON, NVZMY, RB, RKT LN, TDG	-			View
2025 Q1	Apr 15, 2024	The London Company Income Equity	4.4%	4.4%	AAPL, BLK, GLW, MRK, MSFT, NTDOY, PGR, PM	-			View
Q4 2025	Mar 9, 2026	RiverPark Large Growth	1.3%	13.0%	AAPL, AMAT, AMZN, DIS, GOOGL, ISRG, LLY, META, MSFT, NFLX, NVDA, SHOP, UBER	AI, Cloud, growth, healthcare, large cap, semiconductors, Streaming, technology	Portfolio maintains significant exposure to AI infrastructure and monetization opportunities across cloud computing, semiconductors, and enterprise applications. Companies like Microsoft, Alphabet, and Applied Materials are benefiting from accelerating AI adoption and infrastructure buildout. The fund views AI as a multi-year secular growth driver with expanding monetization across the technology stack. Cloud computing remains a core portfolio theme with strong positioning in hyperscale providers and infrastructure companies. Microsoft Azure showed 39% growth while Google Cloud exceeded 30% growth, both supported by AI workload adoption. The fund sees continued multi-year demand for cloud infrastructure and services as enterprises accelerate digital transformation. The portfolio maintains exposure to e-commerce platforms and enablement technologies through holdings like Amazon and Shopify. The fund views e-commerce as benefiting from secular shifts in consumer behavior and continued digital commerce adoption across retail categories. Eli Lilly represents the fund's exposure to the GLP-1 obesity and diabetes treatment market, which continues to show exceptional growth. Mounjaro and Zepbound sales more than doubled year-over-year, with demand continuing to outpace supply. The fund sees this as a multi-decade growth opportunity with expanding indications and sustained competitive advantages. The fund maintains exposure to semiconductor equipment and chip companies benefiting from AI infrastructure buildout. Applied Materials saw strength in AI-related capacity orders, particularly for advanced logic and high-bandwidth memory. The portfolio views semiconductors as benefiting from structural increases in semiconductor intensity and AI infrastructure demand. Netflix represents the fund's exposure to global streaming entertainment, despite near-term headwinds from subscriber growth concerns and content spending. The fund continues to view Netflix as the dominant global streaming platform with durable competitive advantages through its content library, technology infrastructure, and growing advertising business.		View
Q4 2025	Mar 9, 2026	RiverPark Long/Short Opportunity Fund	0.1%	8.5%	AAPL, AMZN, COMP, DIS, DUOL, FIS, GOOGL, ISRG, KMX, LLY, META, MSFT, NFLX, NVDA, SHOP, UBER	AI, growth, healthcare, Long/Short, Quality, technology	AI monetization is a key driver across multiple holdings, with Alphabet benefiting from AI training and inference services in Google Cloud, and the fund maintaining significant exposure to AI/Cloud Computing at 16.9% of the long portfolio. The manager views AI as creating substantial growth opportunities for companies with scale and data advantages. Netflix remains the dominant global streaming platform despite near-term headwinds from subscriber growth concerns and rising content spending. The manager believes Netflix's unmatched content library, scalable technology infrastructure, and growing advertising business provide multiple monetization pillars for long-term growth. E-commerce represents 7.5% of the long portfolio themes, with the fund maintaining exposure to companies benefiting from secular shifts toward on-demand commerce and digital platforms. This includes positions in companies like Uber that benefit from local commerce expansion. Eli Lilly represents a high-quality growth franchise in global healthcare, with leadership in diabetes, obesity, and neuroscience providing durable competitive advantages. The company's GLP-1 treatments continue to see demand outpace supply with additional indications on the horizon. Semiconductors represent 5.0% of the long portfolio themes, with the fund maintaining exposure to companies positioned to benefit from AI infrastructure demand and next-generation computing requirements. This includes holdings in companies with differentiated semiconductor architectures.		View
Q4 2025	Mar 6, 2026	Aristotle Core Equity Fund	3.1%	18.2%	AAPL, AMZN, APG, AVGO, COIN, GH, GM, GOOGL, JPM, MAR, META, MSFT, NFLX, NVDA, ORCL, ORLY, PFGC, TMO, TT, V	AI, earnings, Fed policy, growth, healthcare, large cap, technology, Trade	Artificial intelligence continued to be a major theme with more than 300 S&P 500 companies mentioning AI on their earnings calls during the fall. This enthusiasm helped propel mega-cap tech stocks higher and drive market gains. However, scrutiny increased around AI-related revenue circularity, massive scale of AI-related capital spending, and durability of longer-term returns on investment.		View
Q4 2025	Mar 6, 2026	Bireme Capital	-	33.0%	AAPL, BLNK, COST, GOOGL, INTC, META, MSFT, NKLA, NVDA, RIVN, SPCE, TSLA	AI, Bubble, Corruption, Institutional, international, Speculation, Valuations	US equity valuations are at perilous highs with S&P 500 forward P/E at 23x and CAPE near 40x, while international markets offer significant discounts. European and Japanese equities trade around 15x forward earnings, roughly 30% discount to US multiples. Latin America trades at mere 10x forward earnings with 5%+ dividend yield. Artificial intelligence investments show artificial profit today due to massive capex creating revenue for picks-and-shovels companies while depreciation lags cash expenses. The AI complex is moving toward commoditization with intense competition evident across cloud providers, compute, and models themselves. Circular investments within the AI ecosystem are reminiscent of dotcom-era vendor financing. American institutional excellence is under unprecedented attack including rule of law, independent judiciary, competent bureaucracy, and fiscal prudence. The current administration has conducted mass purges of government watchdogs, attacked Federal Reserve independence, and systematically undermined the norms that define proper federal government role. Markets are experiencing extreme speculation with vibe investing replacing fundamental analysis. Assets are priced on fantastical stories rather than cash flows, with leveraged ETFs, retail options trading, and story stocks reaching bubble-like levels. This madness can only end in disaster. High-quality international businesses trade at fractions of US multiples, with the manager positioning clients to take advantage of this divergence. Despite US equity market dominating investor mindshare, the rest of the world returned 32.6% in dollar terms in 2025 versus SPY's 17.7%.		View
2025 Q1	Mar 31, 2025	Mar Vistas U.S. Quality Select	-4.5%	-4.5%	AAPL, AVGO, GOOG, JNJ, NVDA, PEP, TDG, V	-			View
2025 Q1	Mar 31, 2025	Columbia Seligman Global Technology Fund	-12.7%	-12.7%	AAPL, AVGO, BE, LRCX, MSFT, NVDA	-			View
2025 Q1	Mar 31, 2025	RiverPark Large Growth	-7.2%	-7.2%	AAPL, AMZN, GOOG, LLY, MSFT, NVDA, SCHW, UBER, UNH, V	-			View
2025 Q1	Mar 31, 2025	RiverPark Long/Short Opportunity Fund	-5.8%	-5.8%	AAPL, GOOG, NVDA, SCHW, UBER, V	-			View
2025 Q1	Mar 26, 2025	Andrew Hill Investment Advisors, Inc.	-	-	AAPL, AMZN, DUK, GRMN, JNJ, JPM, MSFT, NFLX, PGR	-			View
2023 Q1	Mar 24, 2023	Andrew Hill Investment Advisors, Inc.	-	-	AAPL, ANET, DE, GRMN, LECO, MRK, MSFT, ULTA, V, VRTX	-			View
Q4 2025	Feb 8, 2026	SGA – U.S. Large Cap Growth	0.2%	3.0%	AAPL, AMZN, ARM, AVGO, AXP, COO, CRM, DHR, GOOGL, GWW, INTU, META, MSFT, NFLX, NKE, NOW, SPGI, V, WM, YUM	AI, growth, large cap, momentum, Quality, semiconductors, valuation	AI capital expenditures are expected to moderate due to structural constraints including power availability, skilled labor shortages, and capital availability. Hyperscaler CapEx spending has reached historically high proportions of revenues and operating cash flows. The most attractive long-term AI opportunities reside with businesses building long-term value rather than companies exposed to cyclical swings. 2025 was characterized by extreme momentum dynamics with capital flowing into immediate winners while perceived losers saw unprecedented pressure. Market leadership concentrated in lower-quality, speculative, and cyclically sensitive stocks. The momentum trade has been exceptionally profitable short-term but timing the inevitable reversal remains challenging. Quality growth companies with stable fundamentals have seen relative valuations plummet to lowest levels in decades while cyclicals trade at historically high levels. The portfolio focuses on reliable and durable growth companies with lower variability that continue to compound earnings and cash flows attractively despite not being rewarded by the market currently. Semiconductor and AI capital equipment stocks were among market darlings, buoyed by massive AI infrastructure spending. However, purely cyclical sectors exposed to hyperscaler CapEx growth rates will have a shorter runway of growth left as further upward growth revisions become challenging.	ALC YUM IT META MSFT ARM AVGO CRM COO GOOG	View
2025 Q4	Feb 8, 2026	Fidelity Dividend Growth Fund	5.1%	22.5%	000660.KS, AAPL, ALSN, AMZN, BA, BN, EPD, GEV, GOOGL, LLY, META, MSFT, MU, NFLX, NVDA, ORCL, PAYC, TSLA, TSM, WDC	aerospace, AI, dividends, energy, large cap, semiconductors, technology	The fund remains optimistic about generative artificial intelligence prospects, believing current breakthroughs in large language models will have massive implications for developed economies. The impact is expected to be at least as significant as the transistor or World Wide Web development. The fund maintains significant exposure to semiconductor companies, particularly Taiwan Semiconductor Manufacturing and memory chip producers like SK Hynix. Strong demand for digital memory solutions has resulted in products being sold out through 2026. Commercial aviation represents a key theme as one of the few end markets not yet recovered to pre-pandemic production levels despite robust air travel recovery. Boeing remains the fund's largest overweight with improving fundamentals and strengthened balance sheet. The fund is positioned in companies benefiting from global electrification and decarbonization trends, including GE Vernova which makes gas turbines for electricity generation. The advent of generative AI is increasing global power needs. The fund's core investment philosophy centers on companies with favorable prospects to sustainably pay and grow dividends over time. Energy sector positioning is supported by corporate policies focused on returning capital through dividends and stock buybacks.	GEV AAPL PAYC 000660 KS GOOGL	View
2025 Q4	Feb 8, 2026	BlackRock Global Dividend Fund	2.2%	19.3%	000001.SZ, 000660.KS, AAPL, ALVY.DE, AVGO, AZN, BABA, CMS, GOOGL, KO, MSFT, REL.L, SONY, TSM	dividends, Europe, financials, global, healthcare, Quality, technology	AI infrastructure demand remains strong, supporting memory companies like SK Hynix. However, AI concerns are creating headwinds for some businesses like RELX, where sentiment remains cautious about AI's potential impact on parts of their operations. The fund focuses on carefully selected quality companies with strong dividend growth potential. The strategy aims to provide dividend growth and consistent returns with lower volatility over the long-term through high-quality, dividend-paying companies.	FBK IM	View
2025 Q4	Feb 8, 2026	BlackRock Advantage Global Fund	3.8%	23.9%	AAPL, AMZN, CME, GOOGL, JPM, MS, MSFT, NVDA, PFE, TSM	global, large cap, quantitative, Sentiment, technology	Large-cap technology stocks led for much of 2025 but weakened into year-end, with more speculative names under pressure. Macro-thematic measures helped motivate successful overweight positions in U.S. and Taiwanese technology stocks.		View
2025 Q4	Feb 5, 2026	ClearBridge Investments All Cap Growth	-	-	AAPL, AIR.PA, DXYN, FCX, GOOGL, HLT, LIN, LLY, MSFT, NFLX, NTRA, ORCL, TMO, VRTX, WBD	aerospace, AI, growth, healthcare, Hospitality, Pharmaceuticals, technology, volatility	AI continues to represent a powerful long-term opportunity, though early beneficiaries such as semiconductors and infrastructure have already seen significant gains. The team is focused on ensuring proper exposure within the AI complex while also positioning for potential market leadership broadening. Eli Lilly rose strongly after striking a deal with the U.S. government to offer its GLP-1 treatments to Medicare and Medicaid patients while readouts on the company's oral GLP-1 treatment indicated a broader market than expected. Long-term demand for commercial aircraft to support air travel is increasing, with much of the growth from China and other parts of Asia, while aging of the existing fleet provides a robust pipeline of replacement demand for years to come. Hilton has a long runway for growth supported by continued mid- to high-single-digit net unit expansion. The company has strong margins and free cash flow conversion, enabling consistent return of capital through share buybacks.		View
2025 Q4	Feb 5, 2026	Richie Capital Group	0.0%	0.0%	7203.T, 7974.T, AAPL, AMZN, AZN, BHP.AX, FMG.AX, GOOGL, HD, IBE.MC, LLY, META, MSFT, NFLX, NVDA, RHM.DE, RIO.AX, ROG.SW, SPOT, XRO.AX	AI, earnings, equities, fixed income, Global Markets, inflation, rates	AI stocks showed mixed performance with investor worries about high valuations offset by stellar quarterly earnings from AI-linked companies including Alphabet, NVIDIA and Microsoft. Semiconductor giants SK Hynix and TSMC posted record-high profits driven by accelerating AI adoption. However, concerns about an AI bubble created drag on global tech stocks in early December. The Fed cut interest rates at October and December meetings, bringing total reductions to three in 2025 and lowering the target range to 3.50%-3.75%. The Bank of Japan raised its key rate to a 30-year high at 0.75%. The ECB held rates steady despite elevated eurozone inflation remaining above the 2% target. U.S. inflation slowed to 2.7% in November from 3% in September. Eurozone inflation rose to 2.2% in November, remaining above the ECB's 2% target for three consecutive months. Japan's core inflation rose 3.0% in November, well above the central bank's 2% target.		View
2025 Q4	Feb 4, 2026	AMG Yacktman Focused Fund	8.7%	24.1%	005380.KS, 005930.KS, 012330.KS, AAPL, CNRL.TO, FOXA, MSFT, MU, NFLX, NVDA, PEP, SCHW, UHAL, WBD	AI, Auto Parts, free cash flow, Media, semiconductors, South Korea, technology, value	Yacktman builds the portfolio based on evaluating normalized free cash flow and business fundamentals, comparing price to arrive at forward rate of return based on current market valuation. The approach focuses on risk-adjusted returns and long-term underlying business performance, holding companies through periods of stock price underperformance when the long-term thesis offers attractive risk-adjusted returns. South Korea is launching broad value-up reforms modeled after Japan's program, shifting governance standards from company-centric to shareholder value creation focus. The manager believes MSCI will eventually re-rate South Korea from Emerging Market to developed market status, with investor access and index flows beginning to close the 30-year Korean discount. Samsung was late relative to competitors SK Hynix and Micron in HBM design wins with NVIDIA but was awarded HBM qualification in 2025 and ramped production quickly. Samsung has long been a leader in memory including NAND, DRAM, and now HBM, with memory chips appearing in AI data centers and broad array of IOT devices from cars to refrigerators to wearables. The U.S. indices reached record highs driven by artificial intelligence exuberance. Memory chips are ubiquitous in AI data centers, and Samsung reorganized to emphasize Galaxy phones with AI feature leadership to compete with Apple. Hyundai Mobis benefitted from share gain and electric vehicle penetration by Hyundai and Kia, continuing strong capital allocation discipline as one of the top global auto parts suppliers. Warner Bros. Discovery has been a relatively small position that contributed to performance in 2025. After the legacy Warner Bros. merged with Discovery, the company embarked on multi-year deleveraging and management transition. Netflix and Paramount-Skydance bidding process has re-rated the company price.		View
2025 Q4	Feb 4, 2026	AMG Yacktman Fund	6.2%	19.8%	000660.KS, 005930.KS, 012330.KS, AAPL, CNQ, FOXA, GOOGL, MSFT, MU, NFLX, NVDA, PEP, PG, SCHW, UHAL, UMG.AS, VIV.PA, WBD	AI, Electric Vehicles, free cash flow, long-term, Media, semiconductors, South Korea, value	Yacktman builds the portfolio based on evaluating normalized free cash flow and business fundamentals, comparing price to arrive at forward rate of return based on current market valuation. The approach focuses on risk-adjusted returns and owner's mindset investing with long-term focus on underlying business performance. Samsung was late relative to competitors in HBM design wins with NVIDIA but was awarded HBM qualification with NVIDIA in 2025 and ramped production quickly. Memory chips are ubiquitous in AI data centers and broad array of IOT devices from cars to refrigerators to wearables. South Korea is launching broad value-up reforms modeled after Japan's program, shifting governance standards from company-centric to shareholder value creation focus. The country may eventually be re-rated by MSCI from Emerging Market to developed market, with investor access and index flows beginning to close the 30-year Korean discount. Samsung has three primary lines of business including memory, foundry, and phones. The company has long been a leader in memory including NAND, DRAM, and now HBM. Samsung has focus on U.S. foundry with massive fab outside Austin in Taylor, Texas. Hyundai Mobis benefitted from share gain and electrical vehicle penetration by Hyundai and Kia, continuing strong capital allocation discipline. The company is one of the top global auto parts suppliers. Warner Bros. Discovery has been a relatively small position along with other sizeable media holdings. After legacy Warner Bros. merged with Discovery, the company embarked on multi-year deleveraging process and management transition. Netflix and Paramount-Skydance bidding process has re-rated the company price.		View
2025 Q4	Feb 3, 2026	John Hancock Balanced Fund Class I	3.7%	16.0%	AAPL, AMZN, AVGO, BRBR, FCX, GOOGL, JPM, LLY, MSFT, ZBRA	asset allocation, Balanced, equities, fixed income, healthcare, materials, security selection, technology	Eli Lilly & Company contributed to relative performance with shares rising amid continued growth in its GLP-1 drug franchise. Freeport-McMoRan benefited from rising copper and gold prices, contributing to fund performance.		View
2025 Q4	Feb 25, 2026	GMO (Grantham, Mayo, Van Otterloo & Co. LLC)	0.0%	0.0%	2222.SR, AAPL, AMZN, AVGO, BLK, CSCO, GM, GOOGL, HOOD, META, MSFT, NVDA, ORCL, OWL, PLTR, TSLA, TSM	AI, Bubbles, Data centers, semiconductors, Speculation, technology, valuation	AI represents the most visibly impressive innovation of the last 100 years, comparable to railways in the 19th century. Current large language models suffer from hallucinations but are likely just an opening phase. If AI advances in biotechnology, materials, and energy, the future could be very interesting. The U.S. stock market has been in bubble territory for a prolonged period, defined as a two-standard deviation divergence above long-term real price trend. Unlike every bubble before it, this one has yet to fully deflate despite classic signs of a historic bubble top. Hyperscalers spent nearly $300 billion on capital expenditures in 2025, with AI investment accounting for 1.3% of U.S. GDP. Cumulative spending on U.S. data centers is estimated to reach $3-5 trillion by 2029-2030, representing massive overcommitment of capital. Nvidia is currently the world's most valuable company, exceeding the entire Japanese stock market. The AI boom has created unprecedented demand for chips, with companies stretching depreciation schedules despite ongoing technological progress that should shorten useful chip lives. There has been a surge in aggressive speculative behavior with commission-free trading, plentiful margin loans, and leveraged ETFs. Zero-day options now make up over 60% of all S&P 500 options, alongside the GameStop meme stock craze and cryptocurrency rise. By every historically effective valuation metric, U.S. equities are extremely overpriced. The CAPE of 40 is above any level seen outside the internet bubble peak, with the market cap to GDP ratio at all-time highs and record proportions trading at over 10 times sales.	HUBS	View
Q4 2025	Feb 25, 2026	The D. E. Shaw Group	-	-	AAPL, AMZN, AVGO, BRK-B, CVX, GE, GOOGL, IBM, JNJ, JPM, META, MSFT, NVDA, PG, TSLA, WFC, XOM	active management, AI, Concentration, market structure, Mega Cap, portfolio construction, risk management, technology	Breakthroughs in artificial intelligence have helped drive notably strong performance in a handful of mega cap stocks. The concentration in tech and AI-related companies has contributed to the current market dynamics where the ten largest S&P 500 constituents account for more than 40% of the index's weight. The document extensively analyzes how market concentration affects portfolio risk characteristics and active management strategies. It discusses the implications for risk models, beta distributions, and the challenges concentration poses for traditional risk management approaches in equity portfolios. The analysis focuses on how equity market concentration impacts the fundamental law of active management, transfer coefficients, and breadth of investment opportunities. It examines the structural changes in capital markets that affect managers' ability to generate alpha and express investment views effectively.		View
2025 Q4	Feb 23, 2026	Mott Capital Management Thematic Growth Portfolio	0.0%	0.0%	AAPL, AMZN, BRK-A, BSX, GOOGL, GRAIL, META, MSFT, ORCL, OXY, ZTS	AI, Debt, energy, Rotation, technology, underperformance, valuation	Manager expresses significant concerns about AI bubble conditions, citing excessive debt accumulation and CAPEX spending by major tech companies. Believes AI fears are being realized as software stocks decline and valuations become problematic. Questions sustainability of current AI investment levels and competitive dynamics. Manager initiated position in Occidental Petroleum, viewing energy sector as underperforming since dot-com bubble. Believes oil prices are currently depressed and energy represents contrarian opportunity given poor relative performance versus S&P 500.	OXY MSFT	View
2025 Q4	Feb 20, 2026	Tall Oak Capital Advisors	0.0%	0.0%	AAPL, AEM, ANET, AVGO, BABA, CCJ, CNQ.TO, EDV, EQT, GEV, GOOGL, MELI, MRK, MS, MSFT, NRG, PAAS, PANW, PH, SHOP.TO	AI, Automation, Critical Minerals, diversification, Energy Transition, Industrial Policy, Supply Chain, technology	Industrial automation has become a strategic necessity rather than a cost optimization tool in a multipolar world. FANUC exemplifies this trend as a global leader in factory robots and CNC systems that support re-shoring and friend-shoring while maintaining productivity. The company's technology underpins manufacturing across automotive, electronics, semiconductors, and precision machinery with systems that remain in place for decades. Materials have re-emerged as strategically important rather than purely cyclical as supply chains are re-engineered and infrastructure investment accelerates. Holdings like Pan American Silver and Southern Copper provide exposure to precious metals and copper demand driven by electrification, grid expansion, electric vehicles, and data-centre infrastructure. Supply growth remains constrained by long development timelines while demand continues rising. AI-related stocks remained a key market driver with companies most directly tied to AI infrastructure and monetization delivering the strongest results. The Magnificent Seven continued to dominate markets, accounting for roughly half of the S&P 500's total return. Capital investment remained elevated with spending concentrated in data centres, semiconductors, energy infrastructure, and automation. Governments and corporations are prioritizing re-shoring and friend-shoring, placing greater emphasis on supply-chain resilience across technology, manufacturing, energy infrastructure, and critical minerals. Rather than reversing globalization, supply chains are being re-engineered around strategic alignment and political reliability. This shift is influencing how and where capital is deployed globally. The transition toward renewable energy and electrification continues to drive investment in grid expansion, energy storage, and power infrastructure. Holdings like GE Vernova benefit from rising power and infrastructure demands tied to AI and electrification. Energy has become a strategic asset to fuel the growth of AI and support industrial competitiveness through low, stable energy costs.		View
2025 Q4	Feb 2, 2026	AGT Partners	0.0%	0.0%	0700.HK, 0883.HK, 5MP.SI, AAPL, APO, D05.SI, KKR, OV8.SI, TSM	Alternative Assets, Asia, Banking, gaming, Offshore Wind, semiconductors, small caps, value	TSMC continues exceptional performance with 36% revenue growth driven by AI demand, improving margins, and strong execution across their Trinity of Strengths. Management guided for 30% revenue growth in 2026 and raised 5-year CAGR guidance to 25%. The fund also initiated a position in a leading South Korean memory chip manufacturer benefiting from tight supply conditions. Tencent demonstrated strong execution with improved monetization strategies after management changes in 2024. Domestic games revenue became a strong driver of overall growth, supported by the company's strong moat through WeChat's 1.4 billion users and major gaming titles like Honour of Kings and PUBG Mobile. Apollo and KKR underperformed despite strong underlying fundamentals, with AUM and fee-related earnings growing 15-24% due to industry headwinds around private equity fundraising and private credit concerns. The fund added to positions at attractive valuations, viewing the volatility as opportunity in businesses positioned for long-term growth. Marco Polo Marine transformed from a cyclical shipyard business to a specialized offshore wind vessel provider, securing multi-year service agreements and building sophisticated vessels for the growing Asian offshore wind market. The company partnered with European designers and global players like Vestas and Siemens Gamesa. DBS Bank was added as a new core holding, recognized for converting scale and technology into structural competitive advantages. The bank achieved 18% ROE through growing fee-based businesses like wealth management, reduced cyclicality, and strong capital allocation with progressive dividends and share repurchases. The fund profitably traded a Malaysian gold miner, capitalizing on gold prices rising faster than miners' all-in sustaining costs, creating attractive margin expansion opportunities and potential valuation re-rating if price strength persists. Profitable trades in two Indonesian crude palm oil producers were driven by Indonesia's biodiesel blending mandate increase from B30 to B40, tightening export availability while supply response remained constrained by aging plantation profiles and replanting limitations. Beyond direct AI investments, the fund seeks second-order beneficiaries including data center construction, electrical infrastructure, and semiconductor supply chain opportunities where demand is visible but valuations remain more palatable than pure AI names.	5LY SI KKR APO TSM	View
2025 Q4	Feb 17, 2026	Cullen Enhanced Equity Income Fund	2.0%	7.5%	AAPL, AMZN, GOOGL, JPM, KVUE, META, MSFT, NSC, NVDA, QCOM, TSLA, UNH, UNP	AI, dividends, growth, healthcare, income, rates, technology, value	The manager discusses the AI boom extensively, noting that hyperscalers continue to escalate capital spending on AI data centers while several Industrial and Utilities companies benefit from the buildout. However, they express concern that markets have already discounted much future AI-driven growth, with $9-$12 trillion of post-2022 market cap gains unexplained by fundamentals. The aggressive AI spending has materially slowed free cash flow and earnings growth for hyperscalers. The strategy focuses heavily on dividend-paying stocks, with a large dividend contribution of 4.1% and total yield of 7.2% for the year. The manager notes that defensive and dividend-oriented sectors are now at multi-decade lows in index weight and investor interest, trading at unusually attractive relative valuations. They believe equity income is becoming increasingly competitive as money market yields decline from their peaks. The manager emphasizes that Value stocks are positioned for outperformance, noting the Growth-to-Value valuation spread is near historical extremes at nearly 100% premium versus the long-term average of 57%. They highlight extreme underweight positioning, elevated valuations in growth, and historically favorable mean-reversion dynamics as creating a compelling setup for value stocks to deliver strong risk-adjusted returns. The Federal Reserve cut rates twice in Q4 to the current range of 3.50% to 3.75%, following a September cut. The manager views the Fed's easing cycle positively for high-dividend stocks, as declining short-term rates should make equity dividend yields increasingly attractive compared to money market funds. They note nearly $8 trillion is currently invested in money market funds with yields falling from peaks above 5% to 3.7%. The manager expresses concern about elevated risk appetite and speculative excess, noting that leveraged ETFs now represent roughly 1% of total ETF assets but account for over 12% of trading volume. They highlight that retail investors now account for roughly 25% of total trading volume, more than twice the long-term average, which has historically served as a signpost of market excess and potential tops.	NSC JPM KVUE UNP UNH QCOM	View
Q4 2025	Feb 10, 2026	PRESCIENT GLOBAL FUNDS ICAV – Fairtree Global Equity Fund	1.7%	-	6723.T, AAPL, ADP, AMAT, AMZN, BABA, ELV, EVO.ST, FI, GOOGL, HAR.JO, IMP.JO, MC.PA, META, MSFT, NPN.JO, NVDA, PDD, PM, TSM	AI, emerging markets, global, rates, semiconductors, technology	AI-related stocks continued to show strength, with mega-cap technology and AI-related names benefiting early in the quarter. South Korean equities gained from improving sentiment around the global electronics and AI cycle, while semiconductor stocks maintained momentum. Semiconductor stocks performed well, particularly in South Korea where they benefited from improving sentiment around the global electronics and AI cycle. TSMC was a notable contributor to fund performance. The Federal Reserve delivered a further 50bp rate cut over the quarter, lowering the federal funds target range to 3.50%-3.75%. Lower global interest rates supported South African equities and contributed to improving macro conditions.		View
2025 Q4	Dec 31, 2025	Burke Wealth Managament The Focused Growth Strategy	2.0%	7.4%	AAPL, ADBE, ASML, BWXT, CMCSA, CRM, GOOGL, ISRG, META, MU, NOW, NVDA, ORCL, SNOW, TDG	AI, Data centers, Enterprise Software, growth, semiconductors, technology, Trade Policy	The AI revolution continues to gain steam with expectations for a slowdown in data center infrastructure spend proving incorrect. The manager believes the current AI investment cycle is different from the dot.com bubble because we don't have enough compute capacity to meet today's needs, driven by three mega-trends: transition from CPU to GPU dominated data centers, replacement of recommender systems with AI-driven systems, and future robotics and digital agents. Companies are spending hundreds of billions of dollars per year to build massive data centers capable of delivering enormous compute power. The infrastructure buildout of massive amounts of compute power needed to drive the next generation of AI applications is viewed as the most secure part of the AI food chain. The manager maintains continued investment in Nvidia and ASML and has made a relatively new investment in Micron, viewing the infrastructure buildout as the most secure part of the AI food chain. GPU dominated servers are replacing CPU servers for cheaper running of traditional workloads. The enterprise software sector faces heightened uncertainty due to the threat of AI disintermediation. The manager consolidated investments into platform companies Service Now and Salesforce while exiting Adobe, believing platforms that connect workflows across organizations are less at risk than best-of-breed apps. 2025 saw the global trade order re-written through executive orders and tweets, with tariffs being a central topic. The manager expects tariffs could remain a central topic in early 2026 depending on upcoming Supreme Court rulings on the legality of Trump tariffs imposed under the International Emergency Economic Powers Act.		View
2025 Q4	Dec 31, 2025	Royal London Global Equity Diversified Fund	4.8%	12.5%	7741.T, AAPL, AMZN, AVGO, BHP.AX, BRO, CPRT, GOOGL, HEIA.L, ITW, JPM, LLOY.L, LLY, LW, META, MSFT, MU, NVDA, RACE, V	AI, defense, Global Equity, healthcare, Quality, semiconductors, technology, Valuations	The fund benefited from strong positioning in AI-related companies, particularly Alphabet which saw positive results following the release of the Gemini 3 model that was widely accepted as market leading. The generative AI supercycle has driven extreme market concentration in the magnificent few companies, leaving huge parts of the equity universe ignored. Eli Lilly was a key contributor due to its dominant position in the fast-growing GLP-1 drug market. Third-quarter results were exceptional due to explosive demand for its metabolic franchise with Mounjaro for diabetes and Zepbound for obesity generating more than $10 billion in quarterly sales. Micron Technology continued to provide positive contribution as a semiconductor manufacturer benefiting from the AI boom. DRAM pricing has continued to rise sharply, creating a favorable environment for Micron and enabling improved profitability from rising AI workloads and tight semiconductor supply. The fund initiated a position in Hensoldt, a European defense electronics company, classified as an Accelerator. The investment case is underpinned by strong positioning in sensor solutions and electronic warfare, seeing heightened demand amid increased European defense spending with robust order book and technological edge in radar and optronics. The fund benefited from investors beginning to appreciate companies with more defensive qualities such as relatively reliable revenues. Many fundamentally sound, profitable, and dependable businesses are currently trading on the lowest relative valuations seen for years when compared to the broader index.	HAG GR ITW RACE LW MU LLY GOOG	View
2024 Q4	Dec 31, 2024	Madison Sustainable Equity Fund	-2.1%	17.4%	AAPL, ADBE, BKRP, DHR, ECL, GOOG, JPM, LIN, LLY, NEE, SCHW, TEL, UNH, V	-			View
2024 Q4	Dec 31, 2024	Barometer Capital Management Inc.	-	-	AAPL, ATRL CN, AXON, BMO, CCO CN, FFH CN, HWM, JPM, MSI, NEE, NVDA, TECK/B CN, V	-			View
2023 Q4	Dec 31, 2023	Aquamarine Fund	-	18.7%	1211 HK, AAPL, AMZN, AXP, BABA, BAC, BARK/A, CRISIL IN, GOOG, MA, META, MSFT, RACE IM, SRG	-			View
2021 Q4	Dec 31, 2021	Aquamarine Fund	-	23.8%	1211 HK, AAPL, AMZN, AXP, BAC, BRK/A, FDJ FP, GOOG, IEX IN, MA, MSFT, NESN SW, NET, TSLA, WE, ZM	-			View
2019 Q4	Dec 31, 2019	Aquamarine Fund	-	24.6%	AAPL, AIG, AMZN, BAM, BRK/A, JNJ, KKR, TOO, TSLA, WE	-			View
2018 Q4	Dec 31, 2018	Aquamarine Fund	-	-13.3%	AAPL, AMZN, AXP, BAC, BRK/A, COST, DUFF, GM, GOOG, JPM, RACE IM, TSLA	-			View
2016 Q4	Dec 31, 2016	Aquamarine Fund	-	8.5%	AAPL, AMZN, BHC, COST, MCO, META, NFLX, TSLA	-			View
2025 Q4	Dec 28, 2025	Stone Ridge Asset Management	0.0%	0.0%	AAPL, AMZN, NVDA	Bayesian, Bitcoin, energy, Human Rights, Natural Gas, operations, Reinsurance	Stone Ridge discovered significant untapped natural gas reserves in Arkansas' Fayetteville Shale through disciplined testing on 60,000 acres of undeveloped land. The discovery increased expected lifetime revenue from $10 billion to $15 billion, demonstrating the value of technological improvements and cost reductions in drilling and completion. Longtail Re executed a landmark $1.4 billion retrospective reinsurance transaction with Everest Group, growing assets to over $6 billion. The firm has delivered 20% annualized ROE since inception, focusing on selective legacy transactions while maintaining core prospective quota share business. Bitcoin serves as a critical tool for human rights activists and populations under authoritarian regimes, providing uncensorable money and financial freedom. The letter highlights bitcoin's role in supporting Venezuelan opposition leader María Corina Machado and its importance for financial sovereignty in countries with currency devaluation. Stone Ridge Energy has purchased almost $11 billion of energy assets through proprietary securitizations, achieving over 20% annual returns with low volatility. The firm operates 5,596 wells powering four million American families and is positioned to become a top three U.S. hydrocarbon producer.		View
2024 Q4	Dec 19, 2024	Andrew Hill Investment Advisors, Inc.	-	-	AAPL, AMZN, ANET, CEG, GEV, GRMN, GS, JPM, MSFT, NVDA	-			View
2023 Q3	Dec 10, 2023	Wedgewood Partners	5.8%	22.4%	AAPL, COP, DHR, EW, GOOG, MSI, ORLY, PYPL, TSM	-			View
2023 Q4	Dec 1, 2024	Polen Capital – Focus Growth	3.0%	11.0%	AAPL, ABNB, AMZN, CRM, ILMN, MSFT, NFLX, NOW, NVDA	-			View
2025 Q3	Nov 13, 2025	RiverPark Large Growth	4.7%	11.6%	AAPL, DIS, GOOG, INTU, ISRG, NFLX, NOW, NVDA, SHOP, TSM	AI, Cloud, DataCenters, semiconductors, software	AI and cloud computing remained dominant growth drivers across mega-cap technology, fueling strong results for Alphabet, NVIDIA, TSMC, and others. The letter emphasizes accelerating AI monetization across advertising, hardware, and software ecosystems, sustaining high-margin growth. AI infrastructure demand continues to underpin semiconductor strength and platform engagement.		View
2025 Q3	Nov 11, 2025	Artemis US Select Fund (Class I Accumulation Shares GBP)	9.6%	-	AAPL, ABBV, BE, FIX, TSLA, TXN, WDC	AI, Data centers, demand, infrastructure, semiconductors	The fund highlights accelerating momentum in AI-linked spending, with semiconductor and data-center demand driving results across several holdings. Strong revenue growth from companies supplying AI infrastructure reinforces the themes durability, though managers remain cautious about pockets of exuberance. AI continues to shape sector positioning, with selective exposure aimed at favorable risk-reward dynamics.	PH	View
2023 Q3	Nov 10, 2023	Eagle Capital Management, LLC	0.7%	-	AAPL, COP, SHEL, V	-			View
2022 Q2	Nov 7, 2022	ROCKLINC Partners Fund	3.8%	12.2%	AAPL	-			View
2025 Q3	Oct 7, 2025	Mar Vista US Quality Select	3.3%	-	AAPL, ADBE, APH, CRM, INTU, ORCL, SAP	Artificial Intelligence, diversification, Large Cap Growth, Market Concentration, valuation	The commentary reinforces a quality-first philosophy focused on businesses with resilient earnings and strong free cash flow generation. Short-term macro noise is considered less important than long-term business economics. Valuation discipline is applied within a quality framework.	SAP INTU APH ORCL AAPL	View
2025 Q3	Oct 7, 2025	Mar Vista US Quality Select	6.4%	16.1%	AAPL, ADBE, GOOG, INTU, MCO, NVDA, SAP	Artificial Intelligence, diversification, Growth Stocks, technology, valuation	The fund emphasizes owning a concentrated portfolio of exceptional U.S. businesses with durable competitive advantages. High returns on capital, pricing power, and disciplined management underpin long-term value creation. Quality is viewed as the most reliable driver of compounding through cycles.		View
2024 Q3	Oct 7, 2024	Nightview Capital	0.0%	0.0%	AAPL, ABNB, AMZN, BLK, DKNG, GOOG, GS, H, LVS, META, MGM, MS, NFLX, QCOM, SCHW, TSLA, TSM, WYNN	-			View
2025 Q3	Oct 31, 2025	Bireme Capital	-	-	AAPL, FOXA, HUM, RICK	fundamentals, Marginofsafety, mispricing, Patience, value	The manager stresses deep value investing focused on misunderstood or neglected assets. Market inefficiencies and behavioral biases create opportunities for patient capital. Downside protection and margin of safety are emphasized over timing market sentiment.		View
2023 Q3	Oct 31, 2023	The London Company Income Equity	10.4%	14.6%	AAPL, CCI, CVX, NOC, NSC, PAYX, PFE, PGR, TXN, VZ	-			View
2024 Q3	Oct 3, 2024	Vltava Fund	0.0%	0.0%	AAPL, BN, HUM, KLAC, MKL	-			View
2025 Q3	Oct 28, 2025	The London Company Income Equity	5.8%	15.4%	AAPL, CMI, DEO, FIS, GLW, NSGRY, NTDOY, PM, TEL, UNH	Artificial Intelligence, dividends, healthcare, income, Quality	The portfolio outperformed its benchmark, led by AI-linked industrial and technology names such as Corning and TE Connectivity. Management added Cummins and UnitedHealth, citing durable advantages, resilient cash flows, and demographic-driven growth in healthcare. Despite near-term volatility, the fund remains focused on dividend yield, quality balance sheets, and steady earnings to preserve capital amid elevated valuations.	UNH TEL GLW UNH TEL GLW	View
2024 Q3	Oct 28, 2024	Parnassus Growth Equity Fund	3.3%	21.0%	AAPL, ADYEN, AKAM, AMAT, ARNB, CHTR, CMG, DHR, INTU, MAR, MELI, MSCI, NVDA, PCOR, SHW	-			View
2025 Q3	Oct 21, 2025	Columbia Seligman Global Technology Fund	23.7%	-	AAPL, AVGO, BE, LRCX, NVDA, ORCL	AI, Cloud, cybersecurity, energy, semiconductors	The fund outperformed benchmarks with 23.7% gains, driven by semiconductors, cloud infrastructure, and AI data center demand. Bloom Energy and Lam Research were key contributors, benefiting from AI-related power and chip investments. Managers expect continued growth in AI infrastructure and cybersecurity spending despite sector concentration risks.	ORCL AVGO WDC BE AVGO WDC LRCX BE	View
2025 Q3	Oct 17, 2025	Harbor Capital Appreciation Fund	5.0%	12.7%	AAPL, AMD, APPL, AVGO, DIS, MSFT, NFLX, ORCL, SHOP, TOST, TSM, TTD, VRTX	Artificial Intelligence, Cloud Computing, Growth Stocks, semiconductors, Technology leadership	Harbors manager cites AI-driven innovation as the dominant force behind market gains, though warns of valuation risk in mega-cap tech. The fund added exposure to cloud and AI enablers such as AMD and Oracle, reflecting confidence in structural growth. Despite short-term volatility, it remains committed to high-quality growth companies with durable moats and earnings resilience.	ORCL US TOST US AMD US	View
2024 Q3	Oct 17, 2024	Kovitz Core Equity Strategy	6.9%	28.7%	AAPL, ADI, AMAT, AXP, BRK/A, DLTR, FI, GM, HAS, J, JPM, KEYS, MSI, PCAR, SCHW, SPOT, UNH	-			View
2024 Q3	Oct 16, 2024	Wedgewood Partners	5.8%	22.4%	AAPL, CDW, CPRT, EW, GOOG, META, MSFT, MSI, POWL, PYPL, UNH	-			View
2025 Q3	Oct 15, 2025	Parnassus Core Equity Fund	2.6%	-	AAPL, AZO, BRO, BSX, DE, FI, GOOG, GWW, ICE, INTU, KLA GR, ORCL, TMO	Artificial Intelligence, quality growth, semiconductors, software, U.S. Equities	The fund remains bullish on U.S. equities, supported by resilient earnings and transformative AI infrastructure investment. It balances defensive holdings with strategic exposure to semiconductors and software leaders benefiting from rising AI monetization. The managers emphasize disciplined allocation toward high-quality, durable franchises capable of compounding through market cycles.	GWW US BSX US	View
2025 Q3	Oct 14, 2025	Parnassus Growth Equity Fund	5.8%	-	AAPL, APPF, ASML, BRO, CMG, CRM, DE, GOOG, INSM, INTU, MELI, PODD, SARP, TSM	Artificial Intelligence, growth, healthcare, inflation, semiconductors	The fund underperformed the Russell 1000 Growth Index due to underweight positions in Apple and Tesla but gained from holdings in Alphabet, ASML, and TSMC. It highlights AI infrastructure buildout, healthcare innovation, and defensive growth through high-quality companies like Insulet and StandardAero. Management remains bullish on U.S. equities while monitoring inflation and monetization risks from AI.	PODD US SARO US	View
2022 Q3	Oct 10, 2022	Wedgewood Partners	5.8%	22.4%	AAPL, CPRT, EW, FB2A, GOOG, MSI, PYPL, TPL, TSM, V	-			View
2023 Q4	Oct 1, 2024	Tsai Capital	0.0%	55.1%	AAPL, AMZN, COST, GOOG, TSLA	-			View
2025 Q4	Jan 9, 2026	Fundsmith Equity Fund	0.0%	0.0%	AAPL, ADP, AMZN, BF-B, CHD, COLPF, EL.PA, FTNT, GOOGL, IDXX, INTU, META, MSFT, NVDA, NVO, PEP, PM, TSLA, WKL.AS, ZTS	AI, Concentration, Index Funds, Performance, Quality, technology, valuation	Major tech companies are in an arms race to build AI capacity through massive capital expenditure on GPU chips and data centers. Whether this spending produces adequate returns remains an open question, with companies like Apple potentially benefiting by avoiding the race and leveraging others' infrastructure. Index funds now hold over 50% of US equity fund assets, creating momentum-driven buying that distorts markets. This passive investing creates a multiplier effect where $1 of flows can move stock prices by 5.5x, benefiting large index constituents regardless of fundamentals. Weight loss drugs are having a lasting impact on consumer behavior, directly affecting companies in snacks and alcoholic beverages. The manager sold positions in Brown-Forman and PepsiCo due to reduced appetites from these medications. The fund maintains focus on companies with high returns on capital (31% ROCE), strong margins (62% gross, 28% operating), and consistent cash conversion (94%). These quality metrics remain superior to broader market indices despite recent underperformance.		View
2025 Q4	Jan 9, 2026	Tsai Capital	0.0%	7.6%	AAPL, AMZN, BN, BRK-B, COST, GOOGL, IDXX, MA, META, MKL, MSCI, MSFT, NVDA, QXO, TSLA, TYL, V	Compounding, disruption, Ecosystems, growth, innovation, Networks, technology	Tesla is described as a leading artificial intelligence company with formidable competitive advantages. The manager believes Tesla's AI capabilities remain underestimated and undervalued, anticipating the company will eventually operate millions of autonomous vehicles and own the majority of the autonomous market. The letter extensively discusses robotics as a transformative medium that changes workplaces, economies, and society. Amazon's robotic warehouses are highlighted as exemplifying the medium's power, creating unparalleled logistics efficiency and competitive advantages. Tesla is positioned as leading the inexorable shift toward electric vehicles, steadily eroding the foundations of legacy automakers burdened by obsolescent infrastructure. The manager expects Tesla to significantly increase vehicle production as the overall EV market expands. Amazon Web Services is described as the undisputed leader in cloud computing, accounting for more than 50% of Amazon's aggregate operating profits. The transition from local servers to cloud environments is highlighted as a key growth driver. Amazon's e-commerce arm continues to capture additional market share with remarkable agility despite its immense scale. The shift from brick-and-mortar retail to digital marketplaces is identified as a key trend driving Amazon's revenue growth.		View
2025 Q4	Jan 9, 2026	Middle Coast Investing	2.7%	16.9%	AAPL, ABM, AER, AMZN, APOG, ATKR, ATRO, AVGO, BHF, CCK, COF, CPAY, ECG, FG, GOGO, GOOG, HI, HNI, HURC, LULU, LYFT, MLKN, OMAB, PAGS, PGR, PTLO, SCHW, TRIP, WS	Bottom-up, Cash, Defensive, Office Furniture, risk management, value	Manager emphasizes bottom-up investing approach, looking for companies that will do better in years ahead when stocks are priced attractively. Seeks good companies at fair prices to protect against market struggles while avoiding missing big years. Primary goal is to avoid blowing up and survive through bad times. Uses rules like not buying whole positions at once, demanding 50% upside, watching leverage, and knowing when to double down. Maintains defensive portfolio positioning. Decade-long investment theme in office furniture companies including Kimball International, Steelcase, and HNI Corporation. Believes return to office theme hasn't played out but might be soon, with order growth showing improvement across major players.		View
2025 Q4	Jan 7, 2026	ClearBridge Investments Dividend Strategy	0.0%	0.0%	AAPL, ADP, APD, AVGO, GOOGL, ITX.MC, KO, LHX, META, MMC, MSFT, NESN.SW, NVDA, ODFL, ORCL, TEL, TMUS, UL, UNP, XOM	AI, Concentration, diversification, dividends, large cap, semiconductors, technology, value	AI will radically change lives, labor markets and the economy, but investors already ascribe trillions of dollars of value to AI-related enterprises while aggregate AI-related revenues are minimal relative to embedded expectations. The landscape is evolving too swiftly to conclude today's favored players will be ultimate winners, with fundamental questions remaining about LLM commoditization and revenue sustainability. The strategy's average holding has grown its dividend at 10% over the last 12 months with similar growth expected in coming years. The fund maintains focus on dividend-paying companies as part of its core investment approach and diversification strategy. The ClearBridge Dividend Strategy trades at a significant discount to the broader market with a P/E ratio of 19.8x versus 24.7x for the S&P 500. The managers value securities based on free cash flow yields and gravitate toward those with asymmetric risk-reward profiles.		View
2025 Q4	Jan 7, 2026	Bridgewater Associates	0.0%	0.0%	AAPL, META, NVDA	AI, Capex, Data centers, Fed, growth, inflation, Labor, productivity	AI capex boom is set to significantly support US growth with estimated 140bp boost in 2026 and 150bp boost in 2027. The resource grab phase involves massive data center build-out primarily in the US, creating acute price pressures in power, memory chips, and materials while having limited labor market impact. Global data center capacity build-out is accelerating with majority occurring in the US. The construction creates supply chain pressures for key components like memory chips, generators, and transformers, while requiring minimal labor relative to capital investment. Memory chip supply chains are overwhelmed with companies like SK Hynix sold out until 2027. These supply pressures affect other goods using same inputs, with memory chips representing about 10% of iPhone cost of goods sold. Surging compute demand is hitting power availability constraints in the US, including insufficient peak generation capacity and transmission capacity. Hyperscalers are turning to behind-the-meter solutions like natural gas turbines despite cost disadvantages.		View
2023 Q2	Jan 7, 2024	Old West Capital Management	6.9%	15.9%	AAPL, SMRT	-			View
2025 Q4	Jan 6, 2026	Westfield Capital Management	0.0%	0.0%	AAPL, AMZN, GOOGL, META, MSFT, NVDA, TSLA	AI, Breadth, cyclicals, earnings, Fed, small caps, technology, Valuations	AI remains the largest structural EPS driver into 2026, but investors are increasingly focused on companies translating AI spend into pricing power, margin leverage, and measurable revenue outcomes. The early-year AI melt-up reversed sharply in April, exposing speculative excess as story stocks began to lose momentum. ROI discipline and selectivity now define performance, reinforcing a true stock-picker's market. Small caps are breaking multi-year bases with early signs of leadership rotation beneath the surface. Small cap earnings revisions turned positive for the first time in years, reinforcing the durability of market broadening into 2026. Small caps and cyclicals trade at a meaningful discount to large caps, creating attractive opportunities where fundamentals are improving faster than prices. Earnings leadership is broadening across Financials, Industrials, Health Care, and small caps. Small- and mid-cap earnings expectations are inflecting higher after several years of underperformance, narrowing the growth gap versus the largest stocks. Consensus points to more balanced EPS growth across market segments in 2025-26, supporting a healthier and less concentrated earnings backdrop.		View
2024 Q4	Jan 6, 2025	LRT Capital Management	0.0%	15.8%	AAPL, TSLA, WMT	-			View
2024 Q4	Jan 5, 2025	CDT Capital Management	0.0%	0.0%	AAPL, T	-			View
2025 Q4	Jan 31, 2026	YCG Investment	-	-	AAPL, CPRT, GOOGL, LIN, META, TDG, VRSK	aerospace, Industrial, Long Term, Networks, Quality, Speculation, technology, value	YCG focuses on high-quality, recession-resistant toll takers that have historically outperformed over the long term but are currently experiencing underperformance in speculative markets. The firm believes quality stocks are undervalued as investors chase speculative opportunities. TransDigm represents a portfolio of aerospace parts with mission-critical, proprietary characteristics and little competition. The aerospace aftermarket benefits from secular growth in air travel and regulatory barriers that create pricing power for parts suppliers. Linde operates in industrial gases with economies of scale advantages and take-or-pay contracts that provide guaranteed income streams. The business benefits from mission-critical applications across diverse industries and expensive transportation costs that create local monopolies. Meta demonstrates the resilience of large networks through its ability to adapt to competitive threats and regulatory changes. The company's massive user base and AI investments have enabled it to maintain growth in engagement and advertising despite challenges from TikTok and Apple's privacy changes.	META LIN TDG	View
2025 Q4	Jan 30, 2026	PGIM Jennison Global Opportunities Fund	-4.1%	5.3%	AAPL, AMD, AMZN, APP, CRWD, GEV, GOOGL, ITX.MC, MSFT, NET, NFLX, NTDOY, NVDA, ORCL, RMS.PA, SE, SHOP, TSM	AI, consumer, Data centers, global, growth, semiconductors, technology	The team is a big believer in the massive paradigm shift to GenAI and expects leadership in accelerated computing, agentic applications, search, robotics and autonomous driving to move dynamically. Jennison plans to execute with fluidity in this rapidly evolving set of opportunities that cross into multiple sectors. The most interesting part of the Fund, with the strongest secular growth profile, seems to be the most controversial in the market and centers on the massive paradigm shift to GenAI. The massive data center buildout is leading to a surge in demand for alternative and traditional energy generation. This trend led Jennison to add GE Vernova to the Fund's Industrials sector for their natural gas turbine, wind, and electrification businesses. Taiwan Semiconductor rose on record profitability as AI demand continues to exceed expectations. Jennison initiated a position in Advanced Micro Devices as the team believes the use of GPUs for agentic AI applications will continue to expand and customers of NVIDIA are looking for second sources.	GEV	View
2025 Q4	Jan 30, 2026	Antipodes Global Fund	-	-	AAPL, AMD, AMZN, ASAI, BEKE, BMRI.JK, CRM, Gold, GOOGL, HON, HYMTF, JCI, LLY, META, MRK, SIEGY, STM, TCEHY	AI, cyclicals, financials, global, healthcare, industrials, materials, technology	Portfolio increased exposure to structural investment trends, namely software, while reducing hardware exposure. AMD benefited from landmark agreement with OpenAI to supply 6 gigawatts of high-performance graphics chips and broader investor rotation into AI infrastructure. Barrick Mining rose sharply underpinned by fresh wave of investor enthusiasm for gold, with record bullion prices boosting revenue, margin and earnings estimates. Portfolio reduced exposure to gold via exiting Valterra Platinum following rapid price moves. Amazon's AWS business re-accelerated growth to 20% year-on-year, the fastest pace in several years, as the company sees strong demand. Portfolio increased exposure to Amazon partly based on infrastructure business winning market share. STMicroelectronics detracted with sentiment dented by softer demand in key end markets, notably automotive and industrial chips. AMD surged on chipmaker's landmark agreement with OpenAI and broader AI infrastructure rotation.		View
2025 Q4	Jan 30, 2026	Legacy Ridge Capital	0.0%	7.0%	AAPL, AMZN, GOOGL, KRP, META, MNR, MSFT, NVDA, PII, PLTR, TSLA	Capital Allocation, Cash, dividends, energy, Exploration & Production, value	Fund maintains 30% cash position as defensive measure against expensive market valuations. Cash provides optionality for opportunistic deployment when attractive opportunities arise. Management views current cash levels as necessary given stretched valuations across broader markets. Portfolio focused on dividend-paying companies with 6% yield, emphasizing businesses that return excess cash to shareholders. Key holdings KRP and MNR have dividend policies returning 75% and over 50% of cash flow respectively. Dividend income provides steady cash flow for redeployment opportunities. Significant allocation to energy sector through Mach Natural Resources and Kimbell Royalty Partners. Focus on companies with disciplined capital allocation, low leverage, and high distribution yields. Both companies emphasize acquiring cash-flowing assets and returning capital to shareholders. Investment philosophy centered on buying businesses at discounts to intrinsic value based on discounted cash flows. Contrasts current approach with expensive growth stocks trading at extreme valuations. Emphasizes margin of safety and business owner mentality in stock selection.	MNR	View
2025 Q4	Jan 30, 2026	Unison Asset Management	0.0%	0.0%	AAPL, AMAT, AXP, BAC, BRK-B, CDW, DE, ELV, GOOGL, JPM, LMT, META, NOC, NU, NVDA, ONON, TSLA, TSM, UNH, WFC	AI, Cloud, Long Term, semiconductors, technology, value	AI continues to assert itself across markets and the real economy in ways that demand to be addressed. The race is for AGI, with wealth accruing to whoever reaches it first. Big Tech's AI spending accounts for roughly 90% of corporate capex and contributes an estimated half of total U.S. GDP growth in 2025. TSMC represents a durable bottleneck in the infrastructure layer—the point of least slack in the global silicon supply chain. All roads lead to TSMC, with approximately 67% share of global foundry revenue and roughly 90% share of leading-edge nodes. Alphabet's cloud business made meaningful progress with revenue expected to reach approximately $57 billion (+32% YoY), while operating profit is projected to nearly double. Revenue backlog is growing faster than reported revenue, underscoring the persistent supply-demand imbalance. By designing proprietary silicon and committing to capital outlays for data centers on a financial scale attainable by only a handful of nation-states, these firms have constructed a physical moat that is, for all practical purposes, unreplicable. On Holding represents a play on the growing scarcity of the real. As digital marketing becomes commoditized and AI floods the world with generic content, value migrates toward physical community and technical prestige. On is selling membership in a curated, physical ecosystem that AI cannot replicate.	AMRZ HOLN SW NU ONON BRK.B TSM GOOGL	View
2025 Q4	Jan 30, 2026	Artisan Focus Fund	-0.5%	19.9%	AAPL, ADI, AXON, CAT, COF, ENR.DE, GE, GS, HWM, ISRG, JPM, LLY, NDAQ, NVDA, ROK, RR.L, SHOP.TO, TSM, WELL, WFC	aerospace, AI, energy, financials, growth, industrials, semiconductors, technology	AI impacts on productivity should create abundant inflection points across nearly all S&P sectors in profitability and ROIC. When amortizing AI capex over the system that will use it, the returns appear massive and under-reported. S&P margins look structurally too low in most forecasts as labor efficiency gains may likely create an upward drift in margin ceilings. Aerospace is cyclically inflecting ahead of a long duration upcycle supported by secular growth of the global middle class. The Aerospace Normalization theme was the largest positive contributor in 2025 with General Electric, Rolls-Royce and Howmet all making meaningful contributions driven by fundamental strength. Power demand creates new secular growth opportunities, with data centers reaching deep into industrial portfolios. Caterpillar's co-located power capability at data centers represents significant revenue upside potential to the Energy & Transportation segment. Analog Devices represents the premium analog compounder as the cycle turns, with best-in-class economics including 70%+ gross margins and 45-50% EBIT targets. The team believes 2Q25 marked the restart of the semiconductor cycle with pricing and margin inflection underway. De-globalization theme involves redirection of capital on post pandemic priorities for security of energy and reliability of supply chains. Companies like Siemens Energy, GE Vernova, Constellation Energy and Vistra are positioned to benefit from this structural shift. Industrial automation represents a key secular trend with companies like Rockwell Automation positioned to benefit from digitization and AI-enabled transformation of enterprise operations. This includes factory automation and process optimization across manufacturing.	GE	View
2025 Q4	Jan 30, 2026	Optimum Fixed Income Fund	1.1%	7.6%	AAPL, AMZN, GOOGL, META, MSFT, NVDA, TSLA	Bonds, credit, duration, fixed income, interest rates, Mortgage, TIPS	Artificial intelligence remained a major investment theme during the quarter, driven by heavy spending from large technology companies. However, concerns emerged around profitability and rising costs associated with AI investments.		View
2025 Q4	Jan 30, 2026	Optimum Large Cap Growth Fund	1.6%	15.9%	AAPL, AMZN, GOOGL, META, MSFT, NVDA, TSLA	Biotech, Communication Services, growth, healthcare, large cap, semiconductors, technology	Artificial intelligence remained a major investment theme, driven by heavy spending from large technology companies, though concerns emerged around profitability and rising costs.		View
2023 Q4	Jan 3, 2024	Middle Coast Investing	-	-	AAPL, ACLS, EB, FCNCA, KBAL, SCS	-			View
2025 Q4	Jan 29, 2026	8th Wonder Investments	0.0%	0.0%	AAPL, AMZN, CMCSA, CRM, CSU.TO, DECK, DIS, GOOGL, HEI, LYV, META, MSFT, NFLX, NVDA, PARA, RH, SKX, TOI.TO, TSLA, WBD	aerospace, AI, Leadership, Luxury, M&A, Media, software, value	Warner Bros. Discovery represents a special situation investment driven by CEO David Zaslav's shift toward shareholder value creation and aggressive debt paydown. The company announced plans to split into two entities and received multiple takeover bids, with Netflix ultimately winning the bidding war. The market fears AI will disrupt vertical market software by eliminating switching costs and seat-based pricing. However, AI agents will likely increase demand for systems of record and control point software rather than replace them, as enterprises need guardrails for non-deterministic AI outputs. Constellation Software and Topicus represent the core thesis of acquiring mission-critical vertical market software businesses with high switching costs, recurring revenue, and defensive moats. These businesses serve niche markets where switching is painful and alternatives offer minimal benefits. The fund employs covered call strategies to generate income and reduce cost basis while building positions. This options-based approach allows for larger position sizing in balance sheet challenged businesses while providing downside protection. HEICO represents an antifragile business model in aftermarket aerospace components that gains market share during economic stress as airlines extend fleet life. The company demonstrates seamless leadership transition and decentralized operations that thrive on adversity. RH under Gary Friedman exemplifies exceptional leadership combining capital allocation with creative genius, transforming the company from near-bankruptcy into a luxury lifestyle brand with galleries that redefine retail and 30% EBITDA margins.	TOI CN CSU CN RH HEI WBD	View
2025 Q4	Jan 29, 2026	Ashva Capital Management	0.0%	0.0%	AAPL, AMD, AMZN, COST, CSCO, DIS, GOOGL, HIMS, META, MU, NFLX, NVDA, PLTR, SPOT, UBER, WMT, ZG	AI, Compounding, long-term, Quality, semiconductors, technology, US, value	The manager discusses whether AI represents a bubble, comparing current valuations to traditional retailers like Costco and Walmart trading at higher forward P/E multiples than NVIDIA. He argues that we cannot be in an AI bubble when defensive stocks trade at higher multiples than leading AI companies. The discussion emphasizes that AI-driven demand is creating structural changes in memory and semiconductor markets. Memory semiconductors are highlighted as no longer being a commodity business driven by PC cycles, but rather a strategic input for AI, cloud infrastructure, and data-intensive workloads. The supply side has consolidated with fewer rational players, higher capital intensity, and better pricing discipline. Micron is positioned to benefit from AI-driven demand and improved industry structure. The manager emphasizes owning high-quality U.S. businesses that compound intrinsic value over time. He argues that obvious, high-quality businesses are not a failure of imagination but recognition of reality, as the modern internet economy rewards scale and dominant positions. Quality businesses can deliver asymmetric returns through duration of dominance. Valuation discipline is emphasized as critical to long-term success, with the manager noting that overpaying can cause long-term returns to go sideways. The portfolio deliberately avoided chasing narrow market leadership at elevated valuations, accepting short-term underperformance to preserve long-term risk-adjusted outcomes. Value creation comes from buying quality businesses at rational prices.	DIS AMD MU	View
2025 Q4	Jan 28, 2026	GMO (Grantham, Mayo, Van Otterloo & Co. LLC)	-	-	2222.SR, AAPL, AMZN, AVGO, BLK, CSCO, GM, GOOGL, HOOD, META, MSFT, NVDA, ORCL, OWL, PLTR, TSLA, TSM	AI, Bubbles, Data centers, semiconductors, Speculation, technology, valuation	AI represents the most visibly impressive innovation of the last 100 years, comparable to railways in the 19th century. Current large language models suffer from hallucinations but are likely just an opening phase. If AI advances in biotechnology, materials, and energy, the future could be very interesting. The U.S. stock market has been in bubble territory for a prolonged period, defined as a two-standard deviation divergence above long-term real price trend. Unlike every bubble before it, this one has yet to fully deflate despite classic signs of a historic bubble top. Hyperscalers spent nearly $300 billion on capital expenditures in 2025, with AI investment accounting for 1.3% of U.S. GDP. Cumulative spending on U.S. data centers is estimated to reach $3-5 trillion by 2029-2030, representing massive overcommitment of capital. Nvidia is currently the world's most valuable company, exceeding the entire Japanese stock market. The AI boom has created unprecedented demand for chips, with companies stretching depreciation schedules despite ongoing technological progress that should shorten useful chip lives. There has been a surge in aggressive speculative behavior with commission-free trading, plentiful margin loans, and leveraged ETFs. Zero-day options now make up over 60% of all S&P 500 options, alongside the GameStop meme stock craze and cryptocurrency rise. By every historically effective valuation metric, U.S. equities are extremely overpriced. The CAPE of 40 is above any level seen outside the internet bubble peak, with the market cap to GDP ratio at all-time highs and record proportions trading at over 10 times sales.		View
2024 Q4	Jan 28, 2025	Artemis US Select Fund (Class I Accumulation Shares GBP)	10.8%	29.5%	AAPL, AMZN, AVTR, BLDR, FI, FWONK, GS, VST	-			View
Q4 2025	Jan 27, 2026	Antero Peak Group	-0.5%	19.9%	AAPL, ADI, AXON, CAT, COF, GE, GS, HWM, ISRG, JPM, LLY, NDAQ, NVDA, ROK, RYCEY, SHOP, SMNEY, TSM, WELL, WFC	aerospace, AI, Capital markets, Data centers, energy, productivity, ROIC, semiconductors	AI impacts on productivity should create abundant inflection points across nearly all S&P sectors in profitability and ROIC. When amortizing AI capex over the system that will use it, the returns appear massive and under-reported. S&P margins look structurally too low in most forecasts as labor efficiency gains may likely create an upward drift in margin ceilings. Aerospace is cyclically inflecting ahead of a long duration upcycle supported by secular growth of the global middle class. The Aerospace Normalization theme was the largest positive contributor in 2025, with General Electric, Rolls-Royce and Howmet all making meaningful contributions driven by fundamental strength. Power demand creates new secular growth opportunities, with Caterpillar positioned for multi-year upcycle as power demand creates new secular growth at a cyclical trough. Data center reaches deep into Caterpillar's portfolio with co-located power capability. Analog Devices represents the premium analog compounder as the cycle turns, with best economics in analog including 70%+ gross margins and 45-50% EBIT target. The team believes 2Q25 marked the restart with pricing and margin inflection underway. Data monetization theme involves machine learning, AI, and cloud causing the economic value of data to structurally accelerate through new products and applications. Companies include financial services firms like Capital One, JPMorgan Chase, Goldman Sachs, Wells Fargo, and Nasdaq. De-globalization theme involves redirection of capital on post pandemic priorities for security of energy and reliability of supply chains. Companies include Constellation Energy, GE Vernova, Siemens Energy, and Vistra Corp.	ADI CAT	View
2025 Q4	Jan 26, 2026	Impax US Sustainable Economy Fund	4.2%	16.0%	AAPL, AMD, AMZN, AVGO, CLX, CPB, GIS, GOOG, GOOGL, JNJ, LLY, MA, META, MRK, MSFT, NVDA, ORCL, PLTR, STT, V, ZTS	AI, Esg, healthcare, large cap, Pharmaceuticals, semiconductors, sustainability, technology	AI-related companies experienced volatility due to concerns over elevated capital expenditures and returns on large-scale data center investments. Advanced Micro Devices surged on strong demand for AI-optimized chips and data center processors, benefiting from partnerships with hyperscale cloud providers and record GPU sales for AI workloads. Eli Lilly announced a significant agreement with the Trump administration for extended coverage of GLP-1 weight loss drugs within Medicare and Medicaid programs. This created substantial new market opportunities and alleviated concerns about stringent drug pricing. Health Care sector rallied following Trump administration agreements with major pharmaceutical firms to reduce Medicaid drug prices. Companies like Eli Lilly, Merck, and others benefited from robust sales growth, positive clinical trial results, and improved market access for key medications. The portfolio's sustainability tools were key performance drivers, with industry tilts from the Sustainability Lens and Corporate Resilience profiles both benefiting returns. Companies with higher Corporate Resilience scores outperformed while those with poor scores like Meta and Palantir were excluded and underperformed.		View
2025 Q4	Jan 26, 2026	Brown Advisory Large-Cap Growth Strategy	-4.4%	1.8%	AAPL, ADBE, ALGN, AMZN, AVGO, CTAS, DDOG, DHR, DKNG, FICO, GNRC, GOOG, HLT, INTU, IOT, ISRG, META, MRVL, MSFT, NFLX, NOW, NVDA, NXPI, TT, TTD, UBER, VEEV, WDAY, ZTS	AI, Cloud, growth, large cap, semiconductors, software, technology	AI integration is driving differentiation across portfolio companies, with ServiceNow and Intuit advancing meaningful AI initiatives that enhance customer value and deepen competitive advantages. The manager views AI investments in three concentric circles: semiconductor companies powering AI infrastructure, hyperscalers deploying AI at scale, and companies integrating AI to enhance products and services. Semiconductors doubled from April lows with NVIDIA and Broadcom among biggest contributors. The manager maintains meaningful exposure to hardware-oriented AI plays but avoids over-concentration despite strong momentum, viewing semiconductor companies as the first circle of AI infrastructure investments. Cloud businesses showed strong performance with Google Cloud growing nearly 34% year-over-year and AWS accelerating to 20% growth. The manager views hyperscalers as the second circle of AI investments, deploying AI at scale across their platforms.	ZTS MRVL VEEV NOW NFLX DHR AVGO MSFT UBER NVDA AMZN FICO HLT ISRG GOOG	View
2025 Q4	Jan 24, 2026	Miller Howard Investments	-	-	AAPL, AMZN, BAC, BRK-B, GOOG, GOOGL, JNJ, JPM, META, MSFT, NVDA, PG, TSLA, WMT, XOM	Concentration, dividends, Indices, Magnificent 7, nuclear, SMRs, value	The US is on the cusp of a nuclear renaissance driven by rising electricity demand, policy support, and emerging technologies like small modular reactors. Nuclear capacity could quadruple by 2050, though regulatory, economic, and execution risks remain significant challenges. Miller/Howard maintains strict dividend focus across portfolios, avoiding Magnificent 7 stocks in income-oriented strategies. The firm emphasizes high current income and growth of income as core differentiators in an increasingly concentrated market. Index reconstitutions have compromised style integrity by adding growth-oriented Magnificent 7 stocks to value indices. This creates concentration risk and challenges traditional value investing principles based on lower valuations and higher dividend yields.		View
2025 Q4	Jan 23, 2026	FCL Capital	0.0%	4.1%	0700.HK, 1211.HK, 6367.T, AAPL, FCX, GLEN.L, HBM.TO, HDB, KGH.WA, KWEB, MSFT, NVDA, SCCO, TSLA	AI, Brazil, Copper, crypto, emerging markets, Energy Transition, technology, value	FCL has built a position in copper miners as an indirect play on AI, energy transition, and urbanization. The fund views copper as undervalued relative to its role in data centers, electric vehicles, and renewable energy infrastructure, while copper mining stocks trade at traditional commodity multiples despite exposure to revolutionary trends. The letter discusses AI's massive energy requirements for data centers, estimating 500-700 thousand tonnes of copper demand by 2028-2030. FCL sees AI as driving fundamental changes in commodity demand while noting that direct AI investments trade at expensive valuations compared to indirect plays through commodities. Renewable energy systems are highly copper-intensive, requiring much more copper per unit of capacity than fossil fuel generation. Wind turbines need 8 tonnes of copper per MW offshore and 2.5-3 tonnes onshore, while solar requires 2-5 tonnes per MW, driving substantial copper demand growth. FCL revisits their 2017 crypto thesis, highlighting tokenization of real-world assets and prediction markets as the next evolution. They see tokenization enabling 24/7 global trading of traditionally illiquid assets, while prediction markets like Polymarket demonstrate superior forecasting ability compared to traditional polling. Brazilian investors have developed a false belief in risk-free returns through CDI investments due to high interest rates. FCL argues this creates a paradox where avoiding risk actually increases long-term purchasing power risk, as CDI has delivered near-zero returns in USD terms over the past decade. The fund emphasizes valuation disparities between expensive US tech stocks and cheaper alternatives in emerging markets and commodities. They highlight that copper miners trade at traditional multiples despite exposure to AI and energy transition themes, presenting attractive risk-adjusted opportunities.		View
2025 Q4	Jan 23, 2026	Bell Global Equities Fund	-1.5%	0.0%	3064.T, 6098.T, 8697.T, AAPL, ACN, AMZN, AUTO.L, AVGO, BOOT, GOOGL, GWW, JPM, LPLA, META, MSFT, NVDA, ODFL, SAP.DE, SNPS, TSCO, V	financials, Global Equities, industrials, QARP, Quality, technology	Bell maintains a Quality at a Reasonable Price (QARP) approach despite challenging performance in 2025. The team believes quality investing periods of underperformance often create compelling opportunities to lean in as fundamentals ultimately reassert themselves and valuations matter again. The portfolio benefits from sustained demand from AI-driven data centre investment, with technology companies like NVIDIA representing significant holdings. AI infrastructure continues to drive performance across multiple portfolio positions.	JKHY LPLA GWW TSCO ODFL	View
2025 Q4	Jan 23, 2026	Tectonic Investors	0.0%	0.0%	AAPL, GOOGL, META, MP, UBER	Automation, Critical Minerals, Investment, Manufacturing, Physical AI, Robotics, semiconductors, technology	Robotics represents the migration of intelligence from digital to physical world, a transformative general-purpose technology at the intersection of energy, mobility, AI, infrastructure and manufacturing. Economics have crossed critical threshold with robotic total cost of ownership reaching parity with human labor costs in many tasks. Industry estimates project $500B in hardware sales by 2030, $9T by 2040, and $25T by 2050. Physical AI demands low-latency, energy-efficient compute with semiconductor content in advanced robots projected to grow rapidly. Intelligence is becoming embodied, mobile, and scalable as global corporate leaders like Google, Meta, Apple aggressively hire robotics talent to position for shift into physical AI. Physical AI demands specialized semiconductor solutions with companies like Horizon Robotics designing energy-efficient, low-latency AI SoCs for perception, planning, and control at the edge. Morgan Stanley estimates need for 40,000x increase in edge computing capacity to 12.5 million ExaFLOPS worth $1.5T by 2050. Critical minerals including lithium, cobalt, nickel, copper, and rare earth elements are foundational to robotics industry. Over 95% of motors in humanoid robots use rare earth magnets with each unit using 2-4 kilograms of these materials. MP Materials positioned to supply critical materials for surge in global robotics. Automation is transitioning from experiment to rational capital allocation decision as robotic total cost of ownership reaches parity with fully loaded human labor costs including recruitment, training, turnover, downtime, safety, insurance, and variability. Focus on dangerous, dirty and dull tasks where customers willing to pay premium.		View
2025 Q4	Jan 22, 2026	Jensen Investment	0.0%	5.6%	AAPL, ACN, AMZN, APH, AVGO, BRK.B, CPRT, GOOGL, JPM, KLAC, LLY, META, MMC, MSFT, MU, NVDA, STX, TSLA, WDC, WM	AI, growth, large cap, Market Concentration, Quality, semiconductors, technology	The AI investment cycle is maturing with prominent beneficiaries beginning to meet quality criteria as earnings become more sustainable and competitive advantages emerge. The portfolio now includes foundational AI enablers like Nvidia, Amazon, Meta, and KLA Corporation as highly profitable, cash-generative businesses with dominant positions in computing and semiconductor ecosystems. Jensen maintains focus on businesses with durable cash generation, resilience, and consistent returns on equity rather than abandoning discipline for momentum-driven rallies. The strategy emphasizes companies capable of compounding economic value over full cycles with strong competitive advantages and financial strength. Semiconductor equipment companies like KLA Corporation benefit from growing investor recognition of pricing power and mission-critical roles in advanced chip manufacturing. The sector saw broadening beyond consensus AI winners to reward memory and storage beneficiaries like Western Digital, Seagate, and Micron. The ten largest S&P 500 weightings comprised 38.29% of the Index and accounted for 55.40% of total returns, creating headwinds for strategies underweight these mega-cap leaders. This concentration in AI-related companies has been a defining feature since late 2022.	AVGO SYK WM CPRT MMC ACN LLY APH KLAC	View
2025 Q4	Jan 21, 2026	Columbia Global Technology Growth Fund	2.0%	25.1%	AAPL, AMZN, ASML, AVGO, GOOGL, HOOD, LRCX, META, MSFT, MU, NFLX, NOW, NVDA, ORCL, TSM	AI, Cloud, global, growth, semiconductors, technology	The fund views AI as being in early innings of a long-term secular growth trend that will take years or decades to play out. The quarter marked a critical transition from experimental pilots to scaled enterprise implementations, with markets scrutinizing elevated investment levels and the path from capital expenditure to cash-flow generation. AI-driven demand is driving insatiable chip demand and productivity gains of 10-30% for knowledge workers. Semiconductor companies experienced strong performance driven by AI demand, with memory-chip suppliers surging on supply constraints. Taiwan Semiconductor Manufacturing received overwhelming validation of insatiable AI chip demand, while Micron Technology sold out its entire 2026 production of advanced memory chips with pricing locked through the following year. The sector benefits from continuous capacity expansion requirements. Cloud infrastructure remains a key focus with AI-driven demand from enterprise customers. Alphabet's cloud business showed strong performance with key contract wins from the Pentagon and AI pioneer Anthropic. The fund continues to monitor cloud commitments and infrastructure spending as part of AI buildout strategies.	NOW MU TSM GOOGL	View
2025 Q4	Jan 21, 2026	Columbia Seligman Global Technology Fund	5.0%	35.4%	AAPL, AMAT, AVGO, BE, GOOGL, LRCX, LYFT, MRVL, MSFT, MU, NVDA, ORCL, PINS, TER, WDC, WIX	AI, Data centers, Equipment, global, growth, semiconductors, technology	AI infrastructure build-out remains strong with hyperscalers and enterprises committing to large-scale spending on GPUs, high-speed networking and high-bandwidth memory. The quarter saw volatility around AI capital expenditure concerns and whether spending had ramped too fast, but fundamentals remained intact with continued demand for AI data centers and power solutions. Semiconductor equipment demand remained steady and recovered strongly following April volatility around global tariffs. Companies focused on reallocating production across geographic locations to adjust for potential tariff impacts. Memory and storage pricing improved following the 2022-2023 down cycle, with NAND/DRAM markets tightening on AI data demand. Power shortage overhangs new AI data center builds globally, creating demand for alternative energy solutions. Bloom Energy's fuel cells provide solutions that can plug into natural gas lines and ramp up power delivery quicker than traditional providers, addressing the largest constraint on AI development according to NVIDIA's CEO. High-bandwidth memory and AI chips are fueling significant investments and demand for advanced storage solutions. Western Digital benefited from increased purchase orders from major hyperscalers extending into 2026 and 2027, driven by AI infrastructure demand for high-capacity hard disk drives. Cybersecurity consistently remains a top priority for CIO budgets as non-technology companies continue increasing AI solution usage in daily operations. However, increased regulatory scrutiny on data privacy, AI ethics and antitrust could create headwinds as companies seek more security solutions amid AI adoption.	AMAT TER WDC BE LRCX NVDA	View
2025 Q4	Jan 21, 2026	Advisors Capital Management, LLC	-	-	AAPL, AMD, AMZN, AVGO, GOOGL, META, MSFT, NVDA, ORCL, SLB, TSLA	AI, energy, Geopolitical, inflation, productivity, technology, Venezuela	AI-driven capital spending remains a powerful force propelling company valuations higher over the past three years. AI adoption is proceeding rapidly with productivity gains helping offset wage pressures and containing inflation. The technology is displacing many jobs while reducing business costs, creating an almost ideal environment for stock prices. The capture of Nicolás Maduro represents a dramatic change in U.S. foreign policies under the Monroe-Trump Doctrine. This signals a more assertive approach to countering hostile regimes in the Western Hemisphere, with implications for Cuba, Iran, and China's strategic positioning in Latin America. Venezuela's leadership change may lower global oil prices and benefit energy companies and oilfield service providers. Oil prices are likely to decline further with positive economic consequences globally, boosting real household income and helping reduce inflation measures. Inflation has moderated meaningfully from its 2022 peak and while it remains above the Fed's target, pressures are expected to ease further into 2026. AI-driven productivity gains may help offset wage pressures, keeping inflation and interest rates relatively contained.		View
2025 Q4	Jan 21, 2026	Ophir Asset Management	0.0%	0.0%	AAPL, GOOGL, META, MSFT, NVDA	earnings, global, Outperformance, small caps, stock picking, technology	After prolonged underperformance, small caps are positioned for sustained outperformance as the missing ingredient - earnings growth - has finally arrived. Small cap earnings expectations relative to large caps are improving for the first time since 2022, supported by cyclical economic factors and broader market participation. Earnings are identified as the primary long-term driver of index performance and the key catalyst that has been missing for sustained small cap outperformance. Small cap earnings expectations relative to large caps are now showing compelling evidence of improvement after years of underperformance.		View
2025 Q4	Jan 21, 2026	NCG Large Cap Growth Strategy	1.0%	15.3%	AAPL, AMD, GE, GHI, GOOGL, HOOD, KNSL, MDB, MSFT, NFLX, ORCL, PGR, ROKU, SAIA, SPOT	active management, growth, Outperformance, Quality, small caps, technology	The firm emphasizes investing in high-quality growth companies with proven business models and sustainable growth drivers. They note that quality factors worked against active managers in 2025, with low-quality stocks significantly outperforming high-quality names. Small cap earnings growth turned positive during 2025 and is expected to stay positive and potentially accelerate in 2026. Small caps continue to trade at a relative discount to large caps, presenting an opportunity for this discount to narrow. The firm maintains significant exposure to AI infrastructure and sees an accelerated pace of innovation happening across various industries. Their technology holdings are diversified across AI infrastructure among other areas.		View
2025 Q4	Jan 21, 2026	Harbor Capital Appreciation Fund	0.8%	14.0%	AAPL, AMD, AMZN, APH, AVGO, CDNS, GOOG, GOOGL, ITX.MC, LLY, LPLA, META, MRK, MSFT, NFLX, NKE, NOW, NVDA, TSLA, TSM	AI, growth, healthcare, large cap, semiconductors, technology	AI infrastructure spending concerns weighed on some positions like Microsoft and Meta, while AI-driven demand supported Taiwan Semiconductor's advanced manufacturing nodes. The fund initiated a position in Amphenol to benefit from AI infrastructure connectivity needs. Eli Lilly recovered during the quarter amid renewed optimism about its GLP-1 obesity and diabetes franchise, supported by improved visibility on pricing. The company remains a key growth driver in the healthcare sector.	MRK APH	View
2025 Q4	Jan 20, 2026	Madison Dividend Income Fund	-0.2%	8.3%	AAPL, AMZN, AVGO, BLK, CME, CVX, GOOGL, HON, JNJ, MDT, META, MS, MSFT, NEE, NVDA, TSLA, UNP, XOM	defensives, dividends, income, large cap, Quality, value	The fund focuses on high-quality, above-average dividend yield stocks with sustainable competitive advantages. Portfolio holdings increased dividends by 6% on average over the past year, well above inflation rates. The fund's absolute portfolio dividend yield of 2.53% compares favorably to 1.12% for the S&P 500. Many dividend paying companies are historically cheap compared to the broad market. The relative yield of the Dividend Income Fund was 2.25x the S&P 500 at year-end, at the very high end of historical ranges. The equal weight S&P 500 is trading at just half the valuation level of the S&P 500. The fund maintains a high-quality portfolio with strong balance sheets that could protect on the downside in a market correction. 94% of fund holdings are rated A- or better by Standard & Poor's, which compares favorably to the S&P 500 at 35% and the Russell 1000 Value at 22%.		View
2025 Q4	Jan 20, 2026	Harding Loevner International Small Companies Equity	-1.9%	15.1%	0005.HK, 0700.HK, AAPL, BHP.AX, BP.L, GSK, HSBA.L, LLY, MARS, MC.PA, MKC, MSFT, NESN.SW, OR.PA, PAN, SANOFI, SAP.DE, SHOP.TO, VOW3.DE, WEED.TO	AI, Consumer Staples, gold, growth, international, momentum, Quality, small cap	The fund emphasizes quality-growth investing that demands relentless skepticism toward market narratives and constant scrutiny of company fundamentals. They focus on financially strong, well-managed companies equipped with durable competitive advantages, operating in industries poised for long-term growth. The letter discusses how price momentum is a well-documented phenomenon where securities whose prices have risen are more likely to keep rising in the short run. When momentum takes hold, fundamentals usually fade from view while narratives are used to justify price moves. AI enthusiasm has lifted hardware and semiconductor stocks while weighing on shares of software and services holdings. The fund discusses AI infrastructure buildout and questions about the durability of demand across the AI supply chain, while also addressing concerns about AI disrupting IT services businesses. Gold is trading at its highest inflation-adjusted level in five decades, but it is a volatile commodity. Gold-mining companies have not had a great history of profitability other than when prices are unusually high, yet surging gold prices sparked a rally in mining stocks.	EVT GR HERDEZ MM 4527 JP 002891 CH CWK LN DIA IM	View
2025 Q4	Jan 20, 2026	Harding Loevner Global Small Companies	0.4%	8.5%	AAPL, ADBE, AMD, AMZN, AVGO, CRM, CSCO, GOOGL, IBM, INTC, META, MSFT, NFLX, NOW, NVDA, ORCL, PYPL, QCOM, TSLA, TXN	global, healthcare, momentum, Quality, small caps, technology, value	The manager emphasizes quality-growth investing that demands relentless skepticism toward market narratives and constant scrutiny of company fundamentals. They focus on financially strong, well-managed companies with durable competitive advantages operating in industries poised for long-term growth. The letter discusses how price momentum is a well-documented phenomenon where securities whose prices have risen are more likely to keep rising in the short run. When momentum takes hold, fundamentals usually fade from view while narratives are used to justify price moves. AI enthusiasm has lifted hardware and semiconductor stocks while weighing on shares of software and services holdings. The manager notes that many AI-related winners lack clear basis for continuing, with some companies barely connected to the AI theme benefiting from momentum. Gold is trading at its highest inflation-adjusted level in five decades, but it is a volatile commodity. Gold-mining companies have not had a great history of profitability other than when prices are unusually high, making the current rally questionable for long-term returns.	2344 TT DIA IM 298380 KS	View
2024 Q4	Jan 2, 2025	Cedar Grove Capital Management	21.0%	0.0%	AAPL, HIMS, MSTR	-			View
2025 Q4	Jan 19, 2026	Hosking Partners	7.2%	33.5%	000660.KS, 005930.KS, 055550.KS, AA, AAPL, BARC.L, C, FCX, HCC, IMPUY, MSFT, MU, SBSW, STX, SYF, TIGO	AI, contrarian, emerging markets, Japan, Mining, Platinum, technology, value	The strategy maintains a contrarian value approach, betting on mean reversion after a decade of growth dominance. Valuation spreads have reached extreme levels with enterprise value to sales ratios spanning 100-fold, creating opportunities in undervalued sectors. The AI capital paradox is creating opportunities as technology leaders face increasing capital intensity. McKinsey estimates $5.2 trillion in physical asset investments by previously asset-light firms, likely compressing returns on assets and valuations. South African platinum group metals were major contributors with Impala Platinum up 243%, Sibanye Stillwater up 360%, and Northam Platinum up 298%. The metals and mining sector weighting of 12% versus 2% index exposure drove significant outperformance. The strategy maintains triple-weight exposure to Japan at 14% versus 5% index weight, betting on corporate restructuring and activist investor pressure. Over 50 holdings target companies with depressed ROA ratios capable of dramatic improvement.		View
2025 Q4	Jan 18, 2026	BNY Mellon Appreciation Fund	1.3%	10.2%	AAPL, AMZN, ASML, BA.L, ETN, GOOGL, INTU, ISRG, LLY, MC.PA, META, MSFT, NOW, NVDA, TSM, V	AI, consumer, earnings, Fed policy, large cap, technology, Trade Policy, volatility	Technology companies reported strong revenue and earnings growth with pledged increases in capital expenditures as computing demand outstrips supply. Over $1 trillion in partnerships between OpenAI and public technology companies were announced for AI chips, datacenters, and cloud computing. However, investor concerns arose around circular funding deals reminiscent of vendor financing and uncertain return profiles. The industrials sector benefited from continued data center construction and investments made to modernize the electric grid. This reflects the infrastructure buildout required to support AI computing demand and digital transformation. Consumer reports highlighted an increasingly pronounced bifurcation, with higher-income consumers continuing to spend broadly and lower-income consumers seeking out value and trading down. This reflects the impact of high interest rates on consumer behavior. President Trump and Chinese Leader Xi met and agreed on de-escalatory moves that reversed trade restrictions previously imposed. The U.S. government approved the sale of scaled-down AI chips to China in a further thawing of relations. However, the oscillating nature of tariff negotiations remains a risk.		View
2025 Q4	Jan 18, 2026	Davenport Core Leaders Fund	0.1%	10.7%	AAPL, ACN, ADBE, AMZN, AVGO, CTAS, EOG, GOOG, ISRG, META, MRVL, MSFT, NOW, NVDA, ROK, SPOT, UBER, UNH, UNP, VRTX	AI, diversification, large cap, Quality, risk management, technology, value	AI and technology stocks led market gains in 2025, with Nvidia up 38.87% after a 171.17% gain the prior year. A gold rush mindset developed across the AI ecosystem, spreading to speculative corners including MEME stocks and unprofitable AI/tech companies. However, there are risks around massive capital outlays for computing power and unclear paths to returns. The market was dominated by momentum-driven stories with little regard for valuation, particularly in AI and tech sectors. 18 of the top 20 performers in the Russell 3000 from April through November were unprofitable companies. Jumping on momentum bandwagons proved more fruitful than having differentiated perspectives or being valuation sensitive. The Fund emphasizes high return businesses with durable competitive advantages and management teams committed to long-term capital allocation. Strategy holdings are positioned to consistently compound intrinsic value across market conditions, staying grounded in business fundamentals rather than short-term market trends. The Fund remains purposefully diversified despite market leadership being narrow and focused on AI. This discipline reflects commitment to effective risk management and appropriate diversification, which weighed on relative performance but positions the Fund well for various market scenarios.	MRVL CTAS GOOG	View
2025 Q4	Jan 18, 2026	T. Bailey Multi-Asset Growth Fund	4.0%	14.6%	AAPL, AZN, BYTS.L, CKN.L, EXPN.L, HIK.L, HLMA.L, IMI.L, ITRK.L, LLOY.L, MAN.L, MNDI.L, MSFT, NWG.L, ORCL, ROR.L, SHOP.TO, TESCO.L, TSLA	AI, Central Banks, commodities, Copper, gold, Multi-Asset, Trade Policy, UK Budget	Artificial intelligence shifted from growth to returns on capital as earnings and guidance highlighted rapidly rising infrastructure spending. Oracle's December profit warning and data-centre project delays intensified scrutiny of near-term monetisation, marking a turning point that tempered earlier enthusiasm for AI infrastructure and chipmakers. Gold surged above US$4,300 per ounce in October, prompting exposure to be trimmed closer to long-term strategic targets. The metal experienced one of its steepest single-day declines in years on 21 October but subsequently recovered to reach a new high above US$4,500 in December, supported by safe haven demand and central bank purchases. Copper led performance within multi-asset portfolios, advancing 16.57% over the quarter. Following a correction in July 2025 driven by tariff-related volatility, copper stabilised and rebuilt momentum through Q4, underpinned by a structurally tight supply-demand backdrop and disruption risk across key producing regions. Trade tensions stayed elevated despite a truce, with threatened tariff escalation in October giving way to a one-year US-China tariff truce after late-October talks. This eased near-term supply-chain risk but left strategic issues unresolved, with stockpiling activity providing additional support to commodity markets.	LGEU LN	View
2025 Q4	Jan 18, 2026	T. Bailey Global Thematic Equity Fund	3.8%	15.3%	AAPL, AZN, BYTS.L, CKN.L, EXPN.L, HIK.L, HLMA.L, IMI.L, ITRK.L, LLOY.L, MAN.L, MNDI.L, NWG.L, ORCL, ROR.L, TESCO.L	AI, Copper, emerging markets, gold, healthcare, Japan, thematic, Trade Policy	Artificial intelligence shifted from growth to returns on capital focus. Oracle's December profit warning and data-centre project delays intensified scrutiny of near-term monetisation. AI-exposed strategies performed well with Polar Capital AI Fund returning 6.58%. Gold surged above US$4,300 per ounce in October, then reached new highs above US$4,500 in December. Supported by falling bond yields, rate cut expectations, geopolitical tensions, and central bank purchases. Copper performed well rising 16.57% in Q4, supported by ongoing electrification, infrastructure spend, tight supply due to limited new mine capacity, and stockpiling activity amid tariff uncertainty. Healthcare exposure contributed positively as policy risks receded, valuations looked attractive, and investors rotated toward high-quality, cash-generative businesses with resilient earnings. Trade tensions stayed elevated despite a truce. Threatened tariff escalation in October gave way to a one-year US-China tariff truce after late-October talks, easing near-term supply-chain risk but left strategic issues unresolved.	PCGH LN	View
2025 Q4	Jan 18, 2026	Parnassus Core Equity Fund	1.6%	11.6%	AAPL, AMAT, AMD, AZO, BALL, BRO, CRM, DHR, EFX, FISV, GOOGL, HD, KLAC, LIN, LLY, MSFT, ORCL, TMO, VRTX, WDAY	AI, growth, healthcare, large cap, Quality, semiconductors, technology, value	The fund views AI as a generational demand driver creating durable need for faster, more powerful and energy-efficient computing. They are likely in the early stages of a decade-long AI investment cycle, seeking upside capture while managing risks of rapid technological change, rising competition and growing financial leverage. The gap will widen between AI winners versus AI losers, favoring active portfolio management. The fund maintains exposure to semiconductor companies benefiting from AI-driven demand. Applied Materials and KLA gained from sustained AI-driven semiconductor demand with improving customer outlooks. The portfolio includes semiconductor manufacturing equipment suppliers and chip designers positioned for the AI infrastructure build-out. The fund invests in hyperscalers and cloud infrastructure companies. Alphabet showed improving growth in its cloud segment and renewed confidence in its vertically integrated AI strategy. The portfolio includes companies providing cloud services and infrastructure supporting the AI transformation. The fund holds pharmaceutical companies like Eli Lilly, which rebounded sharply as concerns around pricing, penetration and competitive dynamics for GLP-1 weight-loss drugs eased following stronger-than-expected demand data. The portfolio favors companies that continue to innovate to improve patient outcomes. The fund invests in life science tools companies such as Danaher and ThermoFisher that provide valuable equipment and services for clinical research. These companies benefited from improving sentiment around life sciences end markets as pharmaceutical customers signaled higher-than-expected spending on research and development.		View
2025 Q4	Jan 16, 2026	103 Advisory Group LLC	0.0%	0.0%	AAPL, AMZN, GOOGL, META, MSFT, NVDA, TSLA	consumer, credit, earnings, Federal Reserve, inflation, K-shaped, Midterms, rates	Headline CPI eased to 2.7% year-over-year in November, driven largely by slowing shelter costs. The shelter component slowed from 3.8% in September to 3.0% in November, the lowest reading since August 2021. The CPI report surprised all economists, with none predicting this low of a reading. Lower-income households are reducing discretionary spending while higher-income households maintain resilient demand. Bank of America data shows lower-income households recorded only 0.6% year-over-year spending growth versus 2.6% for higher-income households. Buy-now-pay-later usage rose 9% year-over-year. Aggregate credit card limits have risen to a record $5.3 trillion, a 35% increase over five years. Outstanding credit card balances total $1.2 trillion, up 6% over 12 months. Credit card delinquencies edged higher in the third quarter, coinciding with elevated interest rates at 21%. The Federal Reserve has pivoted toward a more accommodative stance, lowering interest rates and restarting balance sheet expansion. Treasury bill purchases began in December at roughly $40 billion per month. Market expectations price in two rate cuts in 2026 versus Fed projections of only one.		View
2025 Q4	Jan 16, 2026	Janus Henderson Forty Fund	0.3%	18.4%	AAPL, AMZN, ARGX, AVGO, DHR, ETN, GOOGL, LLY, MA, MDGL, MELI, MSFT, NVDA, ORCL, TSM	AI, Cloud, growth, healthcare, large cap, Pharmaceuticals, technology	AI remains a strong driver of returns with Oracle emerging as a leading player through its hyperscale market position and AI partnerships. The multi-year AI adoption trajectory remains on track with demand outpacing available capacity. Revenue-generating opportunities are moving beyond infrastructure into the application layer, creating new investment opportunities and productivity advances. Power companies are capitalizing on rapid expansion of data center capacity to support AI. Eaton provides energy-efficient power management solutions for data centers, representing a multi-year market opportunity despite near-term production bottlenecks and margin concerns from capital spending. Eli Lilly reported strong results fueled by accelerating sales growth for blockbuster GLP-1 weight loss products Mounjaro and Zepbound. The company has promising pipeline drugs including orforglipron and retatrutide, with government pricing agreements potentially expanding market access for Medicare and Medicaid users. Oracle's cloud business has signed several multibillion-dollar contracts leading to large increases in remaining performance obligations. The company remains well positioned to benefit from ongoing AI capacity buildout due to technological advantages and strategic business relationships, despite market concerns about funding and customer concentration. The fund sees opportunities tied to reshoring of manufacturing capacity in industries from semiconductors to pharmaceuticals as part of broader secular trends transforming the economy.	MDGL LLY ETN ORCL	View
2025 Q4	Jan 16, 2026	Janus Henderson Global Sustainable Equity Fund	-1.5%	9.2%	1299.HK, AAPL, AJG, EXPN.L, GOOGL, IFX.DE, KEYS, KLAC, MMC, MU, NTDOY, NVDA, ORCL, PGR, SPOT, STN.TO, TMUS, TSM, UBER, WD, WK	AI, Climate, Energy Transition, global, semiconductors, sustainability, technology	AI remained a dominant trend with NVIDIA becoming the first company to reach $5 trillion market cap. The rally broadened to the AI value chain including memory companies like Micron. Structural demand across the AI value chain remained robust despite concerns about overstretched valuations. TSMC continued positive momentum with robust results, beating revenue and margin expectations driven by strong demand for advanced products. The company raised full-year revenue guidance to 35% reflecting explosive growth in AI demand from consumer, enterprise and sovereign AI models. Clean technology economics reached a tipping point with renewables and EVs achieving cost parity, driving record investment of $2 trillion in 2025. Global EV sales reached 20% of new car purchases despite policy uncertainty, with solar attracting $500 billion in investment. 2025 was one of the three hottest years ever recorded with climate-driven disasters causing significant costs. Despite political challenges, 84% of large companies maintained climate commitments and investor sentiment remained resilient with 70% committed to sustainability long-term.		View
2025 Q4	Jan 16, 2026	Peak Asset Management	0.0%	0.0%	AAPL, AMZN, GOOGL, MSFT, NVDA	AI, large cap, Overvaluation, risk management, technology, value	AI innovations are driving vast spending on building new data centers, which will be at the top of investors' minds for the next few years or until the economy turns south again. This represents a bright spot in an otherwise contracting manufacturing environment. The manager maintains a risk averse approach to asset allocation with strong balance of Treasury Notes, bond ladders and cash substitutes as safe havens against an inevitable correction. They focus on keeping clients secure and relatively immune to large market dislocations.		View
2023 Q4	Jan 16, 2024	Kovitz Core Equity Strategy	10.4%	26.8%	AAPL, ADSK, BDX, DGE LN, DLTR, GIL, GM, GOOG, LOW, PCAR	-			View
2025 Q4	Jan 15, 2026	Chevy Chase Trust	0.0%	0.0%	AAPL, AMZN, GOOGL, META, MSFT, NVDA, ORCL, TSLA	AI, Automation, Genomics, global, healthcare, inflation, technology, thematic	AI is extremely capital-intensive and competitive, unlikely to produce extraordinary profitability of prior tech companies. Capital spending and R&D consume greater share of sales for largest AI providers than drug stocks. Manager reduced exposure to AI-related companies over the last year due to concerns about future return on AI investment. After four decades of declining interest rates and ten years of very low inflation, both rates and inflation have returned to long-term norms. This marks a notable shift in the global investment landscape that has not yet been reflected in most investors' portfolio positioning. As the global labor force ages and need for supply-chain redundancies becomes more acute, companies increasingly seek ways to do more with fewer people. Automation technologies have matured and reached an inflection point, now offering attractive returns on investment across many industries. Breakthroughs in genomics have changed the practice of medicine. Genomic sequencing technology, clinical knowledge and data analytics have converged to generate diagnostics and treatments specific to individual patients and diseases. Companies leading the genomic medical revolution are well positioned for long-term outperformance.		View
2025 Q4	Jan 15, 2026	ROCKLINC Partners Fund	0.7%	20.3%	AAPL, ACA, AEM.TO, AMZN, APG, BIP.TO, BN.TO, BUR.L, CCO.TO, CSL, DHR, FNV.TO, GROY, KNSL, KPG.AX, MELI, MKL, NOW, OR.V, PLD, RGLD, ROP, RPRX, SII.TO, TSU.TO, WPM.TO	active management, Canada, ETFs, gold, Precious Metals, Silver, uranium, value	Gold delivered one of its strongest annual performances in decades during 2025, with a 64.5% gain to $4,318 per ounce. The acceleration in Q4 underscores persistent safe-haven demand amid geopolitical tensions, central bank buying, inflation hedging, massive global debts and a favorable macro backdrop with lower real yields on fixed income securities. Silver far outpaced even gold with explosive momentum in the final quarter, delivering a colossal 147.5% gain for the year to $71.54 per ounce. This reflects gold's safe-haven spillover plus strong industrial demand from solar, electronics, EVs, and AI-related applications, chronic supply deficits, and early cycle speculative fervour. The firm's significant allocation to precious metals royalty companies was the primary driver of outperformance in 2025. Precious metals staged historic rallies as hard assets and inflation hedges dominated, providing a powerful tailwind to resource-heavy Canadian indices amid broader global uncertainty. The new Rocklinc Principled Equity Fund focuses on undervalued securities through a concentrated portfolio of 20 or fewer holdings, enabling conviction-driven investments based on deep fundamental analysis. The firm deliberately steers clear of overvalued securities trading at extreme multiples and resists purely speculative investments. Canada leads globally in active ETF adoption, with about 30% of total ETF assets under management being actively managed, compared to just 8% in the US. The firm launched the Rocklinc Principled Equity Fund ETF to tap into this booming market where investor demand and competition among providers are driving rapid growth. Sprott has successfully positioned itself at the center of the modern energy transition through its dominance in the uranium sector. The Sprott Physical Uranium Trust is now the largest holder of physical uranium in the world, effectively becoming the institutional gateway for nuclear energy exposure.	SII	View
2025 Q4	Jan 15, 2026	Moon Capital Management	0.0%	0.0%	AAPL, MOH, NVDA	Compounding, fundamentals, healthcare, Managed Care, Margins, Medicaid, value	Molina Healthcare represents a mispriced compounder experiencing transitory margin pressure in the Medicaid industry. The company serves 5.6 million members with Medicaid representing 75% of premium revenue. Despite industry-wide losses, Molina continues generating profit with MLR running 250 basis points better than industry average.	MOH	View
2025 Q4	Jan 15, 2026	MacNicol & Associates Asset Management	0.0%	0.0%	AAPL, AMZN, GOOGL, META, MSFT, NVDA, TSLA	AI, Canada, Currency, Federal Reserve, Precious Metals, real assets, Trade Policy, volatility	Artificial intelligence continued to drive market returns with the Magnificent Seven contributing over 60% of S&P 500 gains. The narrative is evolving from infrastructure spending to productivity results, with markets likely to reward companies that translate AI adoption into real efficiency gains in 2026. Gold rose more than 64% in 2025, marking its strongest annual gain in over four decades. Demand was driven primarily by non-Western central banks and international investors seeking diversification away from US financial assets amid concerns around fiscal discipline and geopolitical risk. Silver surged 142% in 2025, its largest increase since the late 1970s, due to its dual role as a safe haven asset and critical industrial component for AI data centers and solar infrastructure. Markets experienced a brief 'tariff tantrum' in April 2025 following announcement of sweeping trade tariffs, with equity markets dropping 10-15% and volatility spiking into the 50s before quickly recovering by year end.		View
2025 Q4	Jan 15, 2026	Lyrical Asset Management	2.0%	17.9%	AAPL, AER, AMG, AMZN, EBAY, EXPE, FFIV, FLEX, GOOGL, HCA, JCI, META, MSFT, NRG, NTAP, NVDA, SNX, TSLA, UBER, URI	EPS Growth, growth, international, Performance, valuation, value	Lyrical emphasizes their uncommon combination of value and growth, with their portfolio trading at a 78% discount to the S&P 500 while generating 10.6% EPS growth versus 6.6% for the S&P 500. The value spread between their portfolio and the S&P 500 is historically wide. The firm highlights strong performance in travel-related holdings including Expedia Group and AerCap Holdings. Air transportation industry cash flows show recovery with air lessors outperforming airlines and aircraft manufacturers from 2020-2025.		View
2025 Q4	Jan 14, 2026	Wedgewood Partners	-1.8%	4.3%	AAPL, AMZN, BKNG, CB, CDW, CPRT, EW, GOOGL, META, MSI, ODFL, ORLY, POOL, PYPL, SPGI, TSCO, TSM, UNH, URI, V	AI, growth, large cap, Portfolio Management, Quality, technology, valuation	AI continues to drive significant revenue growth across portfolio companies. Google Cloud processes 1.3 quadrillion AI tokens per month, more than double from just a few quarters ago. Meta has been using AI tools for over a decade to manage their massive network, with their Andromeda machine learning system automatically retrieving and ranking tens of millions of potential ads based on user preferences. Taiwan Semiconductor Manufacturing continues to execute flawlessly on leading-edge node progression and capacity build-out, enabling the AI era by manufacturing nearly every compute accelerator including GPUs. The company's advanced nodes allow accelerator designers greater flexibility to increase performance while limiting power requirements in an increasingly power-constrained compute infrastructure industry. Google Cloud segment revenue and backlog growth accelerated, driven by AI workloads. Amazon's AWS has fostered some of the largest businesses in the world over the past 20 years, with revenue growth accelerating to over 20% as the company deployed almost 4 gigawatts of capacity for AI-workloads over the past 12 months. The manager expresses significant concern about excessive market valuations, noting that more than 30% of US market capitalization now trades above 10x sales, reminiscent of the tech bubble. The crowded AI trade and historically rich valuations are described as haunting prudent investing, with even most non-Magnificent Seven stocks failing to offer bargains. The manager has trafficked in quality stocks for more than 33 years, an approach that has served clients well since 1992 but did not work in 2025. The portfolio's fundamentals, prospective earnings growth rates, profitability measures, and balance sheet strength are notably superior to the S&P 500 Index and on par with the Russell 1000 Growth Index.	PYPL TSCO URI MSI META EW ODFL AAPL TSM GOOG CB AMZN	View
2025 Q4	Jan 14, 2026	Emerald Wealth Partners – Growth Equity Strategy	3.0%	16.0%	0700.HK, 6857.T, 8035.T, AAPL, AMZN, ASML, AVGO, AZN.L, BABA, FTNT, GOOGL, META, MSFT, NOW, NVDA, ORCL, TMO, TSM	AI, China, Cloud, cybersecurity, growth, infrastructure, semiconductors, technology	AI continues to show rapid progress with Google's Gemini 3 representing a significant leap in capabilities. The manager believes we may be nearing a Barnes & Noble moment where widespread business adoption accelerates, similar to internet adoption after 1995. They maintain strategic positioning in AI infrastructure companies with strong moats. Semiconductor equipment holdings drove strong Q4 performance, benefiting from improving industry outlooks and attractive valuations. The manager reduced underweight in Nvidia while favoring Broadcom's ASIC strategy, expecting custom silicon to gain market share in AI data centers. Following extensive research including a field trip, the manager re-entered Chinese technology and e-commerce through Alibaba and Tencent. They believe the regulatory environment has shifted from crackdown to active support, creating opportunities to buy excellent businesses at compelling valuations despite ongoing geopolitical tensions. Cloud infrastructure remains critical to AI deployment with companies like Alibaba holding 30% of China's cloud market and integrating AI capabilities. The manager sees cloud as essential infrastructure for the AI ecosystem with substantial growth runway as penetration remains below Western markets. The manager added back to Fortinet following 40% underperformance, seeing the company positioned to benefit from secular tailwinds in cybersecurity and vendor consolidation. Strong customer switching costs and network effects support continuous market share gains despite recent volatility.		View
2025 Q4	Jan 14, 2026	Horos Asset Management	0.0%	0.0%	0086.HK, AAPL, AMZN, ANE.PA, AYV.PA, AZM.MI, DIA.MC, ERG.MC, GEST.MC, GOOG, GOOGL, META, MSFT, NPSNY, NVDA, ONEX.TO, ORCL, TCEHY, TGS, TSLA	AI, Bubble, Concentration, Europe, gold, inflation, Passive investing, value	The manager discusses the massive investment in AI infrastructure by tech companies, warning of potential overinvestment and bubble dynamics. He compares the current AI race to a prisoner's dilemma where companies must invest aggressively to avoid being left behind, even at the risk of capital destruction. Private AI companies are raising capital at unprecedented valuations without products or disclosed business plans. The manager highlights how passive investing has reached nearly 65% of US equity assets, contributing to market distortions including reduced liquidity, increased volatility, and further concentration in mega-cap stocks. US equity index funds attracted around $650 billion in 2025 while actively managed funds saw record outflows approaching $1 trillion. The manager emphasizes their value investing approach, seeking companies that are temporarily undervalued due to setbacks or negative sentiment. He illustrates this with examples like AerCap and Naspers, where the market failed to recognize underlying value, allowing for opportunistic investments with significant upside potential. The manager discusses rising inflation expectations reflected in elevated long-term government bond yields despite central bank rate cuts. He notes that precious metals experienced explosive rallies as investors sought protection against potential currency debasement and sovereign debt concerns. Gold posted gains of around 65% in 2025, with silver rising over 145% and platinum nearly 125%. The manager attributes these gains to growing perception of potential deterioration in financial solvency of major economies and the risk of persistent inflation as governments deal with rising structural debt levels.	TCEHY SDE CN PLX FP ZEG LN ZIG LN NPSNY AER	View
2025 Q4	Jan 13, 2026	Mar Vista US Quality Select	0.2%	12.8%	AAPL, AMZN, APH, AVGO, CRM, DHR, EFX, GOOG, JNJ, LIN, META, MSFT, NFLX, NVDA, ORCL, ROP, SAP, TSM, V	AI, Cloud, growth, large cap, Quality, semiconductors, Streaming, technology	The structural shift driven by Artificial Intelligence is transitioning from proof-of-concept to demonstrable return on investment. Early monetization is visible in advertising, cloud computing, and semiconductors. Companies deploying AI infrastructure are seeing tangible improvements in ROIC through more efficient ad targeting and premium AI cloud services. Cloud computing continues to be a key beneficiary of AI infrastructure deployment. Google Cloud emerged as a standout performer with 34% revenue growth and $155 billion backlog. Microsoft's Azure platform remains capacity-constrained with accelerating growth and increasing adoption of Copilot offerings. Taiwan Semiconductor represents the dominant manufacturer for leading fabless chip designers including NVIDIA, Apple, and Broadcom. The global arms race to develop artificial general intelligence will support multiple years of robust growth for foundries with leading-edge capabilities. Netflix has built a durable economic moat around its globally-scaled streaming business. With more than 300 million members, Netflix enjoys the lowest content cost per subscriber in the industry, enabling it to profitably outspend rivals and accelerate its competitive flywheel.		View
Q4 2025	Jan 13, 2026	Mar Vista US Quality Select	1.8%	18.2%	AAPL, AMT, AMZN, APH, AVGO, BRK-B, EFX, GOOG, META, MSFT, MTD, NFLX, NVDA, ORCL, ROP, TSM, VLTO	AI, Cloud, growth, large cap, Quality, semiconductors, Streaming, technology	The structural shift driven by Artificial Intelligence is transitioning from proof-of-concept to demonstrable return on investment. Early monetization is visible in advertising, cloud computing, and semiconductors where companies are seeing tangible improvements in ROIC. The transition from infrastructure build-out to enterprise and consumer monetization will accelerate into 2026. Cloud computing continues to show strong growth with Google Cloud reaching 34% revenue growth and a $155 billion backlog. Microsoft's Azure platform remains capacity-constrained with accelerating growth. Premium AI cloud services are driving high utilization and multi-year contracts. Taiwan Semiconductor represents the dominant manufacturer for leading fabless chip designers including NVIDIA, Apple, and Broadcom. The global arms race to develop artificial general intelligence will support multiple years of robust growth for foundries with leading-edge capabilities. Semiconductor manufacturing barriers to entry continue rising due to escalating costs. Netflix has built a durable economic moat around its globally-scaled streaming business with over 300 million members. The company enjoys the lowest content cost per subscriber in the industry, enabling it to profitably outspend rivals. The acquisition of Warner Bros. Discovery represents a shift from streaming platform to global media powerhouse.	ROP EFX NFLX TSM MSFT META ORCL AAPL MTD GOOG ROP EFX NFLX TSM LIN MSFT ORCL DHR JNJ GOOG	View
2025 Q4	Jan 12, 2026	Pabrai Wagons Fund	0.0%	3.7%	AAPL, AMR, AMZN, AN, GOOGL, HMT.L, META, MSFT, NVDA, PHM, RIG, TOL, TSLA	Airports, Auto Dealers, Buybacks, Coal, global, Homebuilders, Oil Services, value	The fund focuses on businesses with enlightened managements that buy back their stock at compelling valuations. Three businesses in the portfolio that fit this mold have committed to return capital to shareholders through buybacks or dividends. The fund believes these businesses could deliver higher returns going forward than the Magnificent 7 through buybacks. The fund is invested in a handful of metallurgical coal businesses, with two near the bottom quartile of the cost curve and all led by exceptional managers. All three businesses have some of the best met coal reserves on the planet. The fund believes there will be no meaningful alternative to using met coal to produce steel for several decades. The fund trades at a trailing P/E of 11 compared to the S&P 500's trailing P/E of 30. The fund seeks to buy capital-light businesses with high returns on equity at no more than a bit more than tangible book value. The fund believes a metallurgical coal miner or offshore oil driller that earns even single digit returns can be a fantastic investment if purchased at a fraction of replacement cost. TAV operates 15 airports in 8 countries with guidance of 10-14% annual passenger growth across its airports, which may continue for decades. TAV has high operating leverage where if passengers grow 12%, cash flow may grow at more than 2x that. The fund believes it is led by an exceptional management team and is very cheap compared to other global airport operators. The fund is invested in a couple of U.S. homebuilders who have morphed into asset-light, efficient factories with shrewd capital return policies. The U.S. is structurally underbuilt with a deficit of 4-7 million homes. The high-quality, scale homebuilders have unique advantages that could allow them to capture a growing portion of this growing pie. Traditional car dealerships are hated by the market due to concerns with the rise of electric vehicles and the perception that EVs do not carry the same parts and repair content as traditional ICE vehicles. The fund believes the market's concerns are overblown and not valid. These are great businesses with high-margin recurring revenues that will continue for decades. The fund has a position in U.S. offshore oil services. Offshore accounts for 1/3 of global oil and gas production and breaks even at levels far below fracking. Drillships are complex and expensive with no new supply in the pipeline. The fund believes supply-demand tightness can yield very high day rates for these ships.	TAVHL TI	View
2025 Q4	Jan 12, 2026	Polen Capital – Focus Growth	-1.5%	3.9%	AAPL, ABT, AMZN, GOOGL, ISRG, LLY, META, MSFT, NFLX, NOW, ORCL, SHOP, WDAY, ZTS	AI, Concentration, growth, healthcare, large cap, Quality, software	Despite market concerns about an AI bubble and infrastructure investment circularity, the managers believe the datacenter capex cycle should continue driven by rapid revenue and earnings growth, increasing demand, and supportive policy. They maintain exposure while diversifying beyond AI themes for portfolio resilience. The portfolio faces headwinds as quality factors continue to underperform while high-beta factors outperform in the current market environment. The managers remain focused on competitive advantages and long-term business fundamentals despite near-term performance challenges. Initiated position in Intuitive Surgical, which maintains a de facto monopoly in soft tissue robotic surgery globally. The company has become standard of care in many surgical modalities with large barriers to entry and continues to innovate with its next generation platform driving accelerating procedure growth. Eli Lilly rallied over 40% in Q4 driven by strong financial results and reaching agreement with the White House that lowering GLP-1 drug prices will greatly increase the addressable market in the US and provide a long runway for future growth.	NFLX WDAY ISRG ORCL LLY	View
2025 Q4	Jan 12, 2026	TEAM Asset Management	0.0%	0.0%	AAPL, AMZN, GOOGL, META, MSFT, NVDA, TSLA	AI, Central Banks, China, commodities, gold, rates, Silver, technology	Hyperscalers plan close to $500 billion in AI capex spending for 2026, raising questions about converting this investment into meaningful profits. The AI chip rental market remains competitive with sticky pricing, suggesting the AI bubble has not yet burst. Survey data shows substantial increase in AI use among large American companies with 40% expecting additional AI use in 2026. Physical gold recorded new all-time highs during the quarter driven by geopolitical instability, currency debasement, and physical supply shortages. Central banks have been the marginal buyer, purchasing record amounts including 634 tonnes in the first three quarters of 2025. Gold ended 2025 with gains of 65%, its best calendar year in decades. Silver returned 54% in Q4 driven by a deepening structural deficit from exhaustion of above-ground inventories and absence of new production. Silver's transition to a strategic industrial asset for AI data centers, solar panels, and EVs created supply/demand mismatch. The US officially added silver to its Critical Minerals List, acknowledging its vital role in national security and energy transition. The Federal Reserve cut rates by 25 basis points but exposed deep fractures within the FOMC over prioritizing weakening jobs versus high inflation. The ECB left rates unchanged at 2% with President Lagarde suggesting the rate cutting cycle is complete. The Bank of Japan raised rates to a 30-year high, forcing a global bond re-pricing. Chinese equities broke out to decade-plus highs despite the country remaining firmly in deflation with no sign of consumption recovery. China's growing competitiveness across high-tech sectors including EVs, battery storage, robots and automation is underappreciated. China's formidable edge regarding cheap and limitless access to energy power is likely to become a major talking point.		View
2025 Q4	Jan 11, 2026	Horizon Kinetics	0.0%	0.0%	AAPL, AMD, AMZN, AVGO, GOOGL, ICE, LB, META, MIAX, MSFT, NVDA, ORCL, STR, TPL, VNOM, WTTR	AI, Compounding, energy, Exchanges, long-term, private markets, value, water	The firm avoids direct AI-IT company investments but focuses on beneficiaries of AI infrastructure buildout. They invest in companies controlling necessary resources like natural gas, water, and land for data centers rather than the technology companies themselves. Significant focus on Permian Basin investments through TPL, LandBridge, and WaterBridge. The firm emphasizes water handling infrastructure and land ownership as critical limiting factors for oil production in the region. Long history of investing in securities exchanges from TPL to MIAX to ICE. The firm views exchanges as blue-chip businesses with near-perpetual longevity that don't fail or get displaced. Core philosophy centers on long-horizon value investing with focus on making time work for investors through unbroken compounding. Emphasis on high sustainable return on equity and margin of safety. Water infrastructure is highlighted as a critical limiting factor for both oil production and data center operations. WaterBridge represents a key investment in water handling and disposal infrastructure.		View
2024 Q3	Sep 30, 2024	Harding Loevner Global Equity	5.2%	15.6%	AAPL, ADYEN, AIA, AMAT, AMZN, ASML, DHR, HLN LN, KER FP, OR FP, PINS, RGEN, SU FP, TMO	-			View
2024 Q3	Sep 30, 2024	Columbia Global Technology Growth Fund	-0.9%	0.0%	AAPL, AVGO, CRWD, ORCL, SNPS	-			View
2024 Q3	Sep 30, 2024	Columbia Seligman Global Technology Fund	1.0%	0.0%	AAPL, AVGO, GDDY, GOOG, NVDA, ORCL, SMTC	-			View
2024 Q3	Sep 30, 2024	Mar Vista Focus Fund	3.4%	0.0%	AAPL, AMT, GOOG, LIN, MCHP, MSFT, NKE, ORCL, V	-			View
2024 Q3	Sep 30, 2024	Mar Vista Strategic Growth Fund	5.5%	0.0%	AAPL, AME, AMT, FTV, GOOG, MCHP, MSFT, NKE, SYK, TDG, UL	-			View
2024 Q3	Sep 30, 2024	PGIM Jennison Global Opportunities Fund	2.0%	23.0%	AAPL, CDNS, CRWD, ITX SM, NVR, PANW, ZOMATO IN	-			View
2023 Q3	Sep 30, 2023	Mar Vista Strategic Growth Fund	5.5%	0.0%	AAPL, AMT, DHR, GOOG, INTU, MSFT, MTD, ORCL	-			View
2023 Q3	Sep 30, 2023	RiverPark Large Growth	3.7%	16.4%	AAPL, ADYEN, BKNG, BX, EQIX, FIVN, GOOG, ILMN, INTU, LLY, LMT, MCD, NFLX, PEP, SBUX, UBER	-			View
2023 Q3	Sep 30, 2023	RiverPark Long/Short Opportunity Fund	0.6%	11.1%	AAPL, ADYEN, BKNG, BX, EQIX, GOOG, ILMN, LLY, LMT, MCD, PEP, SBUX	-			View
2024 Q2	Aug 31, 2024	Horos Asset Management	2.9%	9.8%	AAPL, LBTYA, NVDA, TSLA, ZM	-			View
2024 Q2	Aug 23, 2024	Third Point Partners	3.9%	14.0%	AAPL, CPAY, ICE	-			View
2023 Q2	Aug 19, 2023	FPA U.S. Core Equity Fund, Inc.	10.0%	21.5%	AAPL, GOOG, MSFT, NVDA, TSLA	-			View
2024 Q2	Jul 31, 2024	PGIM Jennison Global Opportunities Fund	2.0%	23.0%	AAPL, AMD, AVGO, DIS, ETN, FICO, LLY, MC FP, MDB, NVDA, NVO	-			View
2024 Q2	Jul 23, 2024	Ithaka US Growth Strategy	0.2%	0.0%	AAPL, AMZN, CRM, DXCM, NVDA, VEEV	-			View
2024 Q2	Jul 22, 2024	The London Company Income Equity	10.4%	14.6%	AAPL, FAST, LOW, NSC, NSRGY, NTDOY, PM, TEL, TXN, VZ	-			View
2023 Q2	Jul 20, 2023	Horizon Kinetics	0.0%	0.0%	AAPL, AMZN, BSX IND, CMS, MSFT, PEP	-			View
2023 Q2	Jul 19, 2023	The London Company Income Equity	10.4%	14.6%	AAPL, CCI, LOW, MSFT, PGR, SCHW, TGT	-			View
2024 Q2	Jul 18, 2024	Harding Loevner Global Equity	5.2%	15.6%	AAPL, ADYEN NA, ASML, CRM, DHR, GLOB, MSFT, NVDA, TSM, VRTX	-			View
2024 Q2	Jul 17, 2024	Nightview Capital	0.0%	0.0%	AAPL, AMZN, BLK, DKNG, GOOG, GS, H, LVS, META, MGM, MS, NFLX, NITE, QCOM, SCHW, TSLA, TSM, WYNN	-			View
2024 Q2	Jul 16, 2024	Polen Capital – Focus Growth	3.0%	11.0%	AAPL, ABBY, ACN, ADSK, ALGN, AMZN, CRM, GOOG, HD, META, MSCI, MSFT, NFLX, NVDA, SPOT	-			View
2024 Q2	Jul 15, 2024	Wedgewood Partners	5.8%	22.4%	AAPL, BKNG, CDW, GOOG, MSI, ODFL, POOL, PYPL, TSM, V	-			View
2024 Q2	Jul 15, 2024	Parnassus Core Equity Fund	5.5%	18.2%	AAPL, AMAT, BALL, COST, CRM, DE, GOOGL, INTC, ORCL, VRSK	-			View
2023 Q2	Jul 14, 2023	Choice Equities Capital Management	-1.8%	5.5%	AAPL, MGNI, PLCE, STGW	-			View
2023 Q2	Jul 14, 2023	Wedgewood Partners	5.8%	22.4%	AAPL, CDW, CPRT, GOOG, META, MSFT, PYPL, TPL, TSCO	-			View
2023 Q2	Jul 13, 2023	Giverny Capital Asset Management	7.0%	20.2%	AAPL, AMZN, CIEN, GOOG, META, MSFT, PGR	-			View
2023 Q2	Jul 8, 2023	Horos Asset Management	2.9%	9.8%	39A GR, AAPL, ARHI, AZM IM, ENO SM, GOOG, MEL SM, META, MSFT, NVDA, TGS, TLGO SM	-			View
2024 Q2	Jun 30, 2024	Mar Vista Focus Fund	3.4%	0.0%	AAPL, AVGO, CRM, DIS, GOOG, META, MSFT, NKE, NVDA	-			View
2024 Q2	Jun 30, 2024	Mar Vista Global Equity Fund	7.2%	-	0NIQ LN, AAPL, AVGO, CRM, DIS, GOOG, LIN, META, ORCL	-			View
2024 Q2	Jun 30, 2024	Mar Vista Strategic Growth Fund	5.5%	0.0%	AAPL, AVGO, CMR, DIS, GOOG, META, NKE, SBUX	-			View
2024 Q2	Jun 30, 2024	RiverPark Long/Short Opportunity Fund	0.6%	11.1%	AAPL, ADYEN, DIS, FIVN, NVDA	-			View
2024 Q2	Jun 30, 2024	RiverPark Large Growth	3.7%	16.4%	AAPL, ADYEN, DIS, FIVN, GOOG, NKE, NVDA, PINS, SHOP, SNAP	-			View
2024 Q2	Jun 30, 2024	Baron Opportunity Fund	4.0%	25.1%	AAPL, AMZN, AVGO, CSGP, EXAS, GWRE, IOT, MSFT, NVDA, TSM, VKTX, WDAY	-			View
2024 Q2	Jun 30, 2024	Columbia Global Technology Growth Fund	-0.9%	0.0%	AAPL, AMD, AVGO, CRM, NVDA	-			View
2024 Q2	Jun 30, 2024	Fidelity Dividend Growth Fund	4.4%	25.2%	AAPL, NVDA, VST	-			View
2023 Q2	Jun 30, 2023	Artisan Focus Fund	7.0%	28.7%	AAPL, GE, NVDA, TSLA	-			View
2023 Q2	Jun 30, 2023	ClearBridge Investments Dividend Strategy	0.0%	0.0%	AAPL, COF, MSFT	-			View
2023 Q1	May 24, 2023	Alger Spectra Fund	3.2%	32.4%	AAPL, ACHC, LLY, MSFT, NVDA, UNH	-			View
2023 Q4	May 2, 2024	Buckley Capital	4.8%	0.5%	AAPL, DNTL CN, GFF, GSY, IWG LN, XPOF	-			View
2023 Q1	Apr 20, 2023	The London Company Income Equity	10.4%	14.6%	AAPL, FIS, MSFT, NSC, PFE, SCHW, TXN	-			View
2023 Q1	Apr 20, 2023	Wedgewood Partners	5.8%	22.4%	AAPL, BKNG, FRC, GOOG, META, PGR, SPGI, TPL, TSM, UNH	-			View
2023 Q1	Apr 14, 2023	Distillate Capital Fundamental Stability & Value	0.0%	16.0%	AAPL	-			View
2024 Q1	Mar 31, 2024	Mar Vista Focus Fund	3.4%	0.0%	AAPL, ADBE, DHR, DIS, HON, MSFT, NKE, TDG	-			View
2023 Q1	Mar 31, 2023	ClearBridge Investments Dividend Strategy	0.0%	0.0%	AAPL, BAC, JNJ, MET, MSFT, PFE, SAP, USB	-			View
2023 Q1	Mar 31, 2023	L1 Capital Long Short Fund	2.4%	10.8%	AAPL, BSL AU, CAPS, CS CN, CVE, DOW AU, FLTR LN, IDG GR, NMA GR, QBE AU, TECK	-			View
2023 Q1	Mar 31, 2023	Meridian Hedged Equity Fund	6.2%	0.0%	AAP, AAPL, LEVI, LMACU, SBH, USB	-			View
2023 Q1	Mar 31, 2023	RiverPark Large Growth	3.7%	16.4%	AAPL, DDOG, ISRG, LULU, META, NVDA, SCHW, SHOP, UBER, UHN	-			View
2023 Q1	Mar 31, 2023	RiverPark Long/Short Opportunity Fund	0.6%	11.1%	AAPL, ARNB, EZU, LULU, META, NVDA, SCHW, SHOP, UBER, UNH, XHB, XLI	-			View
2022 Q4	Mar 3, 2023	Harding Loevner Global Equity	5.2%	15.6%	AAPL, ALGN, NKE, SIVB	-			View
2023 Q4	Mar 1, 2024	ClearBridge Investments Dividend Strategy	0.0%	0.0%	AAPL, AZN, GILD, MSFT	-			View
2023 Q4	Feb 23, 2024	Semper Augustus	0.0%	10.8%	AAPL, AMZN, BHE, BRK/A, GOOG, META, MSFT, NVDA, TSLA	-			View
2024 Q4	Feb 21, 2025	Semper Augustus	-	7.0%	AAPL, AMZN, BHE, BRK/A, COST, DG, GOOG, KKR, MCY, META, MSFT, NVDA, ORLY, TSLA	-			View
2023 Q4	Jan 31, 2024	Bireme Capital	-2.0%	-2.0%	AAPL, AI, ARM, BATS LN, CLX, ORI, RICK, TR	-			View
2024 Q4	Jan 27, 2025	Buckley Capital	1.5%	2.0%	AAPL, BFIT NA, DNTL CN, GOGO, IWG LN, TSLA, XPOF	-			View
2024 Q4	Jan 24, 2025	Tsai Capital	-	23.0%	AAPL, AMZN, GOOG, QXO, TSLA	-			View
2023 Q4	Jan 24, 2024	Distillate Capital Fundamental Stability & Value	0.0%	16.0%	AAPL, MSFT	-			View
2023 Q4	Jan 24, 2024	Distillate Capital International	0.0%	10.9%	AAPL, MSFT	-			View
2023 Q4	Jan 24, 2024	Distillate Capital Large Cap Value	0.0%	19.7%	AAPL, MSFT	-			View
2023 Q4	Jan 24, 2024	Distillate Capital Small/Mid Cap Quality & Value	0.0%	5.6%	AAPL, MSFT	-			View
2024 Q4	Jan 21, 2025	Greenlight Capital	-	7.2%	AAPL, CNC, CNH, LIVN, MSTR, ODP, PTON	-			View
2022 Q4	Jan 19, 2023	Wedgewood Partners	5.8%	22.4%	AAPL, CDW, EW, GOOG, META, MSI, PYPL, TPL, TSCO, V	-			View
2024 Q4	Jan 13, 2025	Fundsmith Equity Fund	-	8.9%	AAPL, ADP, ATCOA SS, BF/B, DEO, IDXX, META, MKC, NKE, NVDA, NVO, OR FP, PM, TXN	-			View
2023 Q4	Jan 13, 2024	Wedgewood Partners	5.8%	22.4%	AAPL, EW, GOOG, META, MSFT, MSI, ODFL, ORLY, PYPL, TPL, TSCO, TSM, UHG	-			View
2022 Q4	Jan 3, 2023	RiverPark Long/Short Opportunity Fund	0.6%	11.1%	9WY, AAPL, ADYE AV, CDW, EW, FSR, GOOGL, META, MSI, PYPL, SI, SW, THRY, TSCO, V	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Mar 25, 2026	Seeking Alpha	Seeking Alpha	Apple Inc.	Technology	Consumer Electronics	Bull	Nasdaq Stock Market	Apple, AQR Capital Management, brand loyalty, consumer electronics, Ecosystem, growth, innovation, iPhone, services, stake increase	View Pitch
Feb 21, 2026	Fund Letters	Zach C Turner	Apple Inc	Information Technology	Technology Hardware, Storage & Peripherals	Neutral	NASDAQ	Competition, consumer, Hardware, services, valuation	View Pitch
Feb 1, 2026	Seeking Alpha	Seeking Alpha	Apple Inc.	Technology	Consumer Electronics	Bull	NASDAQ Stock Market	AI innovation, Apple Inc., capital allocation, iPhone sales, market leadership, memory supercycle, premium segment, services revenue, shareholder value, TSMC partnership	View Pitch
Jan 30, 2026	Seeking Alpha	Seeking Alpha	Apple Inc.	Technology	Consumer Electronics	Neutral	Nasdaq Stock Market	AI investment, Apple Inc., consumer electronics, earnings per share, Free Cash Flow, iPhone sales, Revenue Growth, stock buybacks, technology sector, valuation	View Pitch
Jan 30, 2026	Seeking Alpha	Seeking Alpha	Apple Inc.	Technology	Consumer Electronics	Neutral	NASDAQ Stock Market	Apple Inc., capital allocation, EPS growth, Gross margin, innovation, iPhone sales, operating income, Revenue Growth, stock buybacks, valuation	View Pitch
Jan 28, 2026	Fund Letters	Christopher Tsai	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	buybacks, Ecosystem, innovation, Margins, services	View Pitch
Jan 27, 2026	Fund Letters	Silas Myers	Apple Inc.	Technology Hardware, Storage & Peripherals	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	China, Devices, Ecosystem, iPhone, Margins, services	View Pitch
Jan 16, 2026	Fund Letters	David A. Rolfe	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	Ecosystem, Hardware, Margins, services, Upgrades	View Pitch
Jan 8, 2026	Fund Letters	Scott O'Gorman	Apple Inc.	Information Technology	Technology Hardware	Bear	NASDAQ	AI lag, China, exit, services, tariffs	View Pitch
Jan 8, 2026	Fund Letters	Silas Myers	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	cash flow, Ecosystem, Edge AI, Installed base, services	View Pitch
Jan 8, 2026	Fund Letters	David A. Rolfe	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	buybacks, Ecosystem, Free_cash_flow, Hardware, premium, Regulation, services	View Pitch
Jan 8, 2026	Fund Letters	Michael E. Schroer	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bear	NASDAQ	AI, Ecosystem, Hardware, Regulation, Smartphones, tariffs	View Pitch
Jan 8, 2026	Fund Letters	Dan Davidowitz	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bear	NASDAQ	AI, consumer electronics, Smartphones, supply chain, tariffs	View Pitch
Jan 8, 2026	Fund Letters	Silas Myers	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	AI, China, Ecosystem, services, Smartphones, Subscriptions	View Pitch
Jan 8, 2026	Fund Letters	Silas Myers	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	AI, Ecosystem, Hardware, retail, services	View Pitch
Jan 8, 2026	Fund Letters	Maya Bittar	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	Ecosystem, Hardware, Margins, Regulation, services	View Pitch
Jan 8, 2026	Fund Letters	Emerson Bluhm	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bear	NASDAQ	AI, China, Hardware, services, Smartphones	View Pitch
Dec 5, 2025	Fund Letters	Vimal Patel	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bear	NASDAQ	Competition, Ecosystem, Hardware, Saturation, tariffs	View Pitch
Dec 5, 2025	Fund Letters	Rahul Narang	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bear	NASDAQ	Competition, growth, Hardware, innovation, services	View Pitch
Dec 3, 2025	Fund Letters	Cormac Weldon	Apple Inc.	Information Technology	Consumer Electronics	Bull	NASDAQ	Brand, growth, Margins, services, technology, valuation	View Pitch
Dec 3, 2025	Fund Letters	Ankur Crawford	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	Ecosystem, Hardware, innovation, Margins, services	View Pitch
Nov 29, 2025	Fund Letters	Cornelius Zeeman	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	Brand, buybacks, cashflow, consumer, Ecosystem, growth, Hardware, Margins, services	View Pitch
Nov 29, 2025	Fund Letters	Silas Myers	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	AI, cash flow, Ecosystem, Edge devices, Margins, recurring revenue, services	View Pitch
Nov 29, 2025	Fund Letters	Tom Press	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bull	NASDAQ	buybacks, cashflow, Consumer tech, Ecosystem, growth, Hardware, innovation, Margins, recurring revenue, services	View Pitch
Oct 31, 2025	Seeking Alpha	Seeking Alpha	Apple Inc.		Consumer Electronics	Bull		AI investments, Apple Inc., buybacks, cash flow, China sales, gross margins, market reaction, Q3 2025 earnings, services growth, technology sector	View Pitch
Oct 23, 2025	Value Investors Club	Rulon Gardner	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals	Bear	NASDAQ	AI lag, China, Consumer slowdown, De-globalization, Short Thesis, supply chain, tariffs, valuation compression	View Pitch
Sep 27, 2025	Seeking Alpha	Seeking Alpha	Apple Inc.		Consumer Electronics	Bull		AI, Apple Inc., buybacks, consumer electronics, geopolitical risks, iPhone 17, Product Diversification, services revenue, technology, valuation	View Pitch
Aug 13, 2025	Seeking Alpha	Millennial Dividends	Apple Inc.	Information Technology	Consumer Electronics	Bear	NASDAQ	—	View Pitch
Aug 13, 2025	Seeking Alpha	Yiannis Zourmpanos	Apple Inc.	Information Technology	Consumer Electronics	Bull	NASDAQ	—	View Pitch
Aug 13, 2025	Seeking Alpha	Wall Street Breakfast	Apple Inc.	Information Technology	Consumer Electronics	Neutral	NASDAQ	—	View Pitch
Aug 13, 2025	Seeking Alpha	Stone Fox Capital	Apple Inc.	Information Technology	Consumer Electronics	Bear	NASDAQ	—	View Pitch
Aug 8, 2025	Seeking Alpha	The Techie	Apple Inc.	Information Technology	Consumer Electronics	Bull	NASDAQ	—	View Pitch
Aug 7, 2025	Seeking Alpha	Mikhail Fedorov	Apple Inc.	Information Technology	Consumer Electronics	Neutral	NASDAQ	—	View Pitch
Aug 7, 2025	Seeking Alpha	Pythia Research	Apple Inc.	Information Technology	Consumer Electronics	Neutral	NASDAQ	—	View Pitch
Aug 7, 2025	Substack	Pacific Northwest Edge	Apple Inc.	Information Technology	Consumer Electronics	Bull	NASDAQ	—	View Pitch
Aug 7, 2025	Seeking Alpha	Sungarden Investment Publishing	Apple Inc.	Information Technology	Consumer Electronics	Bull	NASDAQ	—	View Pitch
Aug 7, 2025	Seeking Alpha	Multiplo Invest	Apple Inc.	Information Technology	Consumer Electronics	Bear	NASDAQ	—	View Pitch

BSD Shareholders of AAPL

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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BSD Shareholders of AAPL

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