ABT

ABT

ABT

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Aug 5, 2025	Auxier Asset Management	2.5%	8.7%	ABT, BAC, BDX, BK, BKNG, BRK.B, CAE, CI, ELV, GLW, GOOGL, KR, LINC, MA, META, MSFT, PM, UNH, V, ZBH	AI, Buybacks, healthcare, tariffs, technology, Travel, value	AI disruption has been a growing concern for investors as they are uncertain of long-term consequences. Apple research shows current LLMs only present an illusion of thinking and reasoning, producing results based on patterns rather than true reasoning. The largest tech companies expect to spend over $300 billion on AI infrastructure in 2025 alone.	BKNG GOOGL GOOGL	View
2025 Q2	Aug 14, 2025	FPA Source Capital	6.7%	-	ABBV, ABT, ACLX, ARGX, AZN, BSX, CDTX, COO, HRTX, IMVT, INSM, IONS, ISRG, JNJ, LLY, MASI, MDT, PFE, RDNT, ROIV, SYK, TMO, UNH, WAT, XEN.TO	AI, Biotechnology, GLP1, healthcare, Managed Care, Medical Devices, Pharmaceuticals	Strong stock selection in biotechnology contributed the vast majority of relative gains, with main drivers being argenx SE and Insmed Incorporated. The quarter saw several positive biotechnology clinical data readouts, a strong rebound in biotechnology funding, and an acceleration in M&A activity.		View
2025 Q2	Jul 27, 2025	Carillon Eagle Growth & Income Fund	-	-	ABBV, ABT, ACN, AVGO, CARR, DUK, ETN, GLW, GS, JPM, KO, LRCX, MCD, MDLZ, MSFT, ORCL, PG, PNC, RTX	AI, financials, growth, healthcare, income, large cap, semiconductors, technology	AI deployment continues to drive market performance with the Magnificent Seven up over 17%. The fund reduced AI exposure to neutral levels after taking profits, citing concerns about market concentration in this single catalyst. AI infrastructure spending by major tech companies continues to rise, supporting companies like Corning, Oracle, and Broadcom.	LRCX ABBV AVGO ORCL GLW ETN	View
2025 Q2	Jul 18, 2025	Mairs & Power – Balanced Fund	-	2.7%	ABT, AMZN, ENTG, FI, FUL, GOOG, HON, JNJ, JPM, MDT, MSI, NEOG, PFG, TECH, TGT, TXN, UNH, USB, WEC, WFC	AI, Balanced, financials, healthcare, long-term, technology, Utilities, value	AI-related stocks have driven 75% of market returns since ChatGPT launch, with 40% of capital expenditures linked to AI. The Fund lacks exposure to mega-cap AI leaders but sees durable momentum in AI infrastructure including data centers, power generation, and components.	WEC AMZN FI UNH	View
2025 Q2	Jul 15, 2025	Coho Relative Value Equity	-	-	AAPL, ABT, AMZN, BAX, CAG, COR, CVS, DG, DIS, GOOGL, MCHP, MDT, META, MMC, MSFT, NKE, NVDA, SJM, TMO, TOST, TSLA	AI, Concentration, Consumer Staples, GLP1, healthcare, multiples, technology, value	AI euphoria following ChatGPT release sparked impressive but narrowly led market rally in Information Technology sector. The excitement surrounding AI potential caused investors to ignore typical inverse correlation between rates and P/E multiples. AI-driven momentum propelled sectors Coho tends to underweight.		View
2024 Q2	Jul 10, 2024	Aristotle Atlantic Core Equity Strategy	3.1%	21.7%	ABT, ACN, AME, APH, AVGO, BSX, COST, DAR, EL, GH, GOOGL, HAL, MCHP, NSC, NVDA, TFX	AI, growth, healthcare, large cap, semiconductors, technology	AI continues to drive market gains with the Magnificent 7 responsible for the majority of S&P 500 returns. Nvidia sees accelerating demand for GPU semiconductors from hyperscalers and enterprises for AI computing. Amphenol benefits from increased spending on AI-enabled data center architectures requiring higher interconnect content.	MCHP BSX APH NSC DAR GOOGL NVDA	View
2024 Q2	Jul 10, 2024	Aristotle Core Equity Fund	2.9%	21.3%	AAPL, ABT, ACN, AME, AMZN, APH, AVGO, BSX, COST, DAR, EL, GH, GOOGL, HAL, MCHP, META, MSFT, NSC, NVDA, TFX	AI, growth, healthcare, large cap, semiconductors, technology	The fund benefited from AI-driven demand for NVIDIA's GPU semiconductors from hyperscalers and enterprises. Amphenol is positioned to benefit from increased spending by cloud-service providers on new data center architectures that enable AI computing technologies. The fund sees AI as a broadening secular trend driving equity markets.	MCHP BSX APH	View
2025 Q2	Jun 30, 2025	Burke Wealth Managament The Focused Growth Strategy	15.9%	6.3%	ABNB, ABT, BWXT, CHTR, ICE, ISRG, LLY, NOW, NVDA, NVO, SNOW, TDG, UBER	AI, defense, growth, nuclear, Pharmaceuticals, regulation, technology, Trade Policy	The AI revolution continues to drive significant opportunities and challenges, with Nvidia facing regulatory threats from government restrictions on chip exports while maintaining dominance in global AI infrastructure. Snowflake is positioning itself as a critical platform for real-time AI-powered data analytics through AI agents and secure third-party applications.	UBER BWXT SNOW NVDA	View
2024 Q1	May 9, 2024	Polen Capital – Focus Growth	3.0%	11.0%	AAPL, ABT, ADBE, AMZN, META, MSFT, NFLX, NKE, NOW, NVDA, PAYC, PYPL, TMO, TSLA, V, ZTS	AI, earnings, growth, large cap, Quality, technology, Valuations	Managers discuss AI's impact across multiple holdings, noting that much customer spending is driven by AI experimentation rather than proven use cases. They see generative AI as having enormous future impact but question the sustainability of current revenue growth rates, particularly for NVIDIA.		View
2025 Q1	May 21, 2025	Fairtree Global Equity Fund	1.5%	1.5%	ABT, AMZN, AVGO, BABA, BID.JO, BP, EVO.ST, GFI, GOOGL, JD, JPM, KO, KSPI.L, MSFT, NVDA, ORCL, PDD, SHEL, TTE	AI, China, E-Commerce, energy, Global Equity, Recession, tariffs, technology	AI-related US companies experienced pronounced volatility following the release of Deepseek, a Chinese Large Language model trained at significantly lower cost but producing similar results to current US models. Chinese companies' advancements in AI have reinforced their position as a significant force in the technology sector.		View
2025 Q1	May 1, 2025	Mairs & Power – Balanced Fund	0.0%	0.0%	ABT, DIS, FIS, FUL, GOOG, HD, LFUS, MDT, MSI, QCOM, RHHBY, TECH, TTC, TXN, V, WEC	balanced fund, Defensive, healthcare, inflation, technology, Trade Policy, Utilities, value	Tariff uncertainty in March caused equity declines while benefiting fixed income through flight to safety. Prospects of prolonged trade war with China raise concerns about reigniting inflation and slowing economic growth. Tariffs function as a tax that businesses must absorb or pass to consumers, likely creating upward pressure on prices and inflation.		View
2025 Q1	Apr 9, 2025	Vulcan Value Partners – Small Cap	-4.5%	-4.5%	ABT, AMZN, ARES, CRM, CWK, ENS, FI, GOOGL, ISS.CO, ITRN, JLL, LYV, MAR, MEDP, MSFT, PRG, SW.PA, SWK, SWKS, TPG	Facilities Management, real estate, small cap, tariffs, value, volatility	Market volatility returned during the first quarter, creating opportunities for the firm to execute their dual investment discipline. The firm welcomes volatility as it provides opportunities to purchase stable value businesses at lower prices with larger margins of safety. Price to value ratios improved across all strategies during the quarter.	SODEXO.PA GOOGL MSFT AMZN CRM PRG ITRN ISS JLL SWKS TPG SWK MEDP	View
2025 Q1	Apr 9, 2025	Vulcan Value Partners – Large Cap	-2.1%	-2.1%	ABT, AMZN, ARES, CRM, CWK, ENS, FI, GOOGL, ISS.CO, ITRN, JLL, LYV, MAR, MEDP, MSFT, PRG, SW.PA, SWK, SWKS, TPG	healthcare, large cap, real estate, technology, value, volatility	Market volatility returned during the first quarter, creating opportunities to execute dual investment discipline by purchasing stable value businesses at lower prices with larger margins of safety. The firm welcomes volatility as it provides opportunities to improve price to value ratios across all strategies.	SODEXO.PA GOOGL MSFT AMZN CRM PRG ITRN ISS JLL SWKS TPG SWK MEDP	View
2025 Q1	Apr 9, 2025	Vulcan Value Partners – Small Cap	-4.1%	-4.1%	ABT, AMZN, ARES, CRM, CWK, ENS, FI, GOOGL, ISS.CO, ITRN, JLL, LYV, MAR, MEDP, MSFT, PGHN.SW, PRG, SW.PA, SWK, SWKS, TPG	Asset Management, real estate, tariffs, technology, value, volatility	Market volatility returned during the first quarter, creating opportunities for the firm to execute their dual investment discipline. The manager welcomes volatility as it provides opportunities to purchase stable value businesses at lower prices with larger margins of safety. Price to value ratios improved across all strategies during the quarter.	SW PRG ITRN ISS JLL SWKS TPG SWK MEDP	View
2025 Q1	Apr 9, 2025	Vulcan Value Partners – Focus Plus	-6.0%	-6.0%	ABT, AM, AMZN, CRM, CWK, ENS, FI, GOOGL, ISS.CO, ITRN, JLL, LYV, MAR, MEDP, MSFT, PGHN.SW, PRG, SW.PA, SWK, SWKS, TPG	Cloud, concentrated, large cap, technology, value, volatility	Market volatility returned during the first quarter, creating opportunities to execute dual investment discipline by purchasing stable value businesses at lower prices with larger margins of safety. The firm welcomes volatility as it provides opportunities to improve price-to-value ratios across all strategies.	SODEXO.PA SWKS PRG ITRN ISS JLL TPG SWK MEDP	View
2026 Q1	Apr 29, 2026	Mairs & Power – Balanced Fund	-1.8%	-1.8%	ABT, ADP, CRM, ENTG, FAST, FISV, LFUS, PANW, TTC, TXN, UNH, V, WEC, WM, XEL	AI, Balanced, energy, healthcare, inflation, semiconductors, technology, Utilities		WM PANW	View
2025 Q1	Apr 24, 2025	Diamond Hill Large Cap Strategy	1.4%	1.4%	ABT, AIG, BRK-B, COF, D, GIS, GM, HCA, HD, LULU, MET, PH, RRX, TGT, WM	consumer, financials, healthcare, large cap, Trade Policy, value, volatility	President Trump announced significant tariffs including 104% on China in response to retaliation, creating widespread market uncertainty. The administration's determination to reshape global trade relationships is causing companies to preemptively invest in US operations to avoid tariffs.		View
2026 Q1	Apr 23, 2026	Polen Capital – Global SMID Company Growth	-15.7%	-15.7%	8035.T, ABT, ADYEN.AS, ASML, CSGP, META, NOW, NVDA, SHOP, SIE.DE, TSM	AI, disruption, energy, growth, semiconductors, software, volatility		ASML META 8035.T SIEGY ADYEN TSM	View
2026 Q1	Apr 23, 2026	Polen Capital – Focus Growth	-17.3%	-17.3%	ABT, ADBE, BSX, CSGP, INTU, LRCX, META, MSFT, NOW, NVDA, PAYC, ROL, SBUX	AI, disruption, growth, semiconductors, software, technology, volatility		CSGP ROL META LRCX	View
2026 Q1	Apr 18, 2026	Carillon Eagle Growth & Income Fund	-	-	ABT, ACN, ADI, AVGO, CVX, GLW, IBM, MSFT, T, WMB	AI, energy, Geopolitical, growth, inflation, large cap, semiconductors, technology		ADI WMB CVX GLW	View
2025 Q1	Apr 15, 2025	Polen Capital – Global SMID Company Growth	-5.5%	-5.5%	ABNB, ABT, ACN, ADYEN.AS, AMZN, AON, CSGP, GLOB, GOOGL, MELI, NOW, NVDA, NVO, OR.PA, ORCL, PAYC, SAP, SGE.L, SHOP, WTW, ZTS	AI, global, growth, healthcare, Quality, tariffs, technology, volatility	Trump tariffs announced in February created market volatility and uncertainty, with semiconductors down 19% and Magnificent 7 down 15%. Managers expect limited direct impact on their portfolio given focus on branded software and services businesses with pricing power, though acknowledge potential 2nd order effects from reduced consumer spending.	MELI ADYEN WTW NVO AMZN GLOB AON ABT	View
2025 Q1	Apr 14, 2025	Polen Capital – Focus Growth	-6.3%	-6.3%	AAPL, ABT, ACN, AMZN, AON, CMG, GOOGL, IT, LLY, META, NFLX, NOW, NVDA, NVO, ORCL, SBUX, TSLA, V, ZTS	AI, growth, healthcare, large cap, Quality, Resilience, technology, Trade Policy	The AI infrastructure narrative dominated headlines and powered much of the Russell 1000 Growth Index's 90% two-year return. However, semiconductors—the most visible AI beneficiary—declined 19% in Q1 2025 as the bloom came off the AI rose. Polen has no exposure to semiconductor companies and views Oracle's AI exposure as minimal.	AON SBUX	View
2025 Q1	Apr 12, 2025	Torre Financial	-2.0%	-2.0%	ABT, ADBE, ADC, AMZN, CRM, EW, FDS, GOOGL, ICE, INTU, MCO, MELI, META, MSCI, PYPL, SPGI, TMO, UNH, V, WDAY	AI, healthcare, payments, Quality, technology, Trade Policy, volatility	AI is driving significant changes in how people work, automating functions across sales, marketing, customer service, and software development. There is opportunity for new leaders in this space, though concerns exist about potential disruption to companies like Adobe and Alphabet. However, both companies are at the leading edge of AI solutions within enterprise contexts.		View
2026 Q1	Apr 11, 2026	Torre Financial	-8.5%	-8.5%	ABT, ALSN, ASML, BKNG, FIX, GEV, LIN, MELI, SPGI, TMO	AI, energy, industrials, infrastructure, Quality, semiconductors, technology		MELI TMO SPGI ABT BKNG LIN ALSN ASML GEV FIX	View
2026 Q1	Apr 10, 2026	Alpha Wealth Funds – The Insiders Fund	-7.1%	-7.1%	ABT, ADPT, AMAT, BA, BSM, CME, DXCM, ET, GOOG, INTC, KKR, LSCC, MSCI, NVDA, PODD, POOL, ROK, TPC, TREX, TTD	AI, Automation, defense, energy, Geopolitical, healthcare, Onshoring, semiconductors			View
2026 Q1	Mar 31, 2026	Diamond Hill Large Cap Strategy	-2.4%	-2.4%	ABT, ADBE, CARR, COF, COP, FANG, IP, KMB, MSFT, TXN	AI, energy, Geopolitical, large cap, technology, value		CARR KMB MSFT	View
2025 Q1	Mar 31, 2025	Burke Wealth Managament The Focused Growth Strategy	-8.1%	-8.1%	ABT, AMZN, CHTR, CRM, ICE, MA, META, NOW, NVDA, TDG, UNH, V	AI, growth, semiconductors, software, tariffs, technology, Trump, volatility	Manager discusses AI revolution's productivity benefits and efficiency gains through DeepSeek's breakthrough. Notes AI capabilities growing rapidly at ServiceNow and Salesforce with hybrid consumption models. Emphasizes AI efficiency gains will increase demand through Jevon's Paradox rather than reduce compute needs.	TDG CRM NOW NVDA	View
2025 Q1	Mar 31, 2025	Carillon Eagle Growth & Income Fund	-	-	ABBV, ABT, AVGO, CVX, DUK, ETN, GS, HPE, IBM, JPM, MCD, MSFT, ORCL, PG, TMUS, UNH	AI, Defensive, dividends, financials, healthcare, Quality, technology	The quarter witnessed mounting concerns regarding the sustainability of rapid AI investment pace. Chinese DeepSeek's competitive AI model created concerns for Microsoft's OpenAI stake, while the Stargate Project represents a $500 billion AI infrastructure investment over four years.		View
2024 Q1	Mar 31, 2024	Castlebay Investments	-	-	ABT, AZO, BEC, BVXP.L, IHG.L, ITRK.L, NXT.L, ROG.SW, SIE.DE	Bioventix, Diagnostics, moats, Quality, ROE, value	The fund emphasizes businesses with sustainable competitive advantages and superior financial metrics. Companies in the portfolio maintain significantly higher ROE (39% vs 13% market) and operating margins (20% vs 15% market) while using less debt (50% vs 81% net debt to equity). The focus is on businesses that can maintain excess returns over extended periods through moats and defensive characteristics.	BVX.L	View
2025 Q4	Feb 3, 2026	Baird Small/Mid Cap Growth Equity Fund	1.2%	-8.5%	ABT, AFRM, BOOT, BRBR, BROS, BURL, BWXT, CASY, CHDN, COCO, CRDO, CW, DKNG, DT, ELF, EME, EXAS, FOUR, GKOS, KTB, LII, MASI, MNDY, MTSI, PEN, PODD, RGEN, RKLB, TARS, TWLO, ULS, VERX, WAY, WSO	AI, defense, growth, healthcare, mid cap, semiconductors, small cap, technology	The extended federal government shutdown added volatility during what was otherwise a risk-on environment, with a mid-quarter shift in market behavior for AI-related equities as the exuberant narrative evolved to one more balanced in assessing the technology's enormous potential against staggering capital spending plans and high expectations. The team initiated a position in Credo Technology as a more diversified way to gain exposure to strong trends in AI-connectivity. MACOM Technology Solutions rose nearly +40% as the company experienced broad-based demand, similar to many semiconductor companies in 2025. The team exited Astera Labs following industry conference presentations that suggested emerging competitive risks and concerns over single customer concentration, while initiating a position in Credo Technology for AI-connectivity exposure. Healthcare was the strongest relative contributor in the quarter with holdings increasing nearly +16% compared to benchmark returns of roughly +12%. Exact Sciences was acquired for a significant premium by Abbott Laboratories resulting in an +86% return, while other strong performers included Tarsus Pharmaceuticals, Glaukos following approval of a new product, Penumbra, and Repligen driven by strong earnings results. The team initiated a position in Curtiss-Wright, believing the company is entering a period where multiple near-term growth drivers are converging, including rising defense budgets, commercial aerospace production ramps, nuclear power plant life extensions and new builds, and submarine production. EMCOR Group was initiated as a new position, viewed as a critical contractor enabling multi-year investment cycles across data centers, semiconductor fabrication, electrification, and broader infrastructure modernization. Its decentralized, cash-generative model, recurring service base, and exposure to structural growth drivers create a profile viewed as more durable than a typical cyclical contractor framework.		View
2024 Q4	Dec 31, 2024	Distillate Capital International	-	-0.3%	ABT, ADBE, AMGN, AVGO, BMY, CRM, CSCO, CVS, DKS, ELV, GDDY, HCA, HII, MO, NVDA, PG, QRVO, TMUS, UNH, WSM	AI, Concentration, Quality, risk management, small caps, valuation, value	Large U.S. equities are up 43% since October 2023 while underlying free cash flows increased only 9.6%, creating significant valuation risk. The most expensive 15 mega-cap stocks trade at an 83% premium to the rest of the market and account for almost 40% of total market capitalization. Distillate's strategies offer attractive valuations with free cash flow yields well above market levels.		View
2024 Q4	Dec 31, 2024	Distillate Capital Large Cap Value	-	13.3%	ABT, ADBE, AMGN, AVGO, BKNG, BMY, CI, CRM, CSCO, CVS, DKS, ELV, GDDY, HCA, HII, MO, PG, QRVO, TMUS, UNH, WSM	cash flow, fundamentals, large cap, Quality, risk, valuation, value	The letter extensively discusses valuation disparities between expensive mega-cap stocks and the rest of the market. Distillate's strategy focuses on high-quality companies at attractive valuations, with their portfolio offering a 5.8% free cash flow yield versus the S&P 500's 3.5%. The firm emphasizes being disciplined on valuation and avoiding expensive stocks.		View
2024 Q4	Dec 31, 2024	Distillate Capital Small/Mid Cap Quality & Value	-	2.9%	ABT, ADBE, AMGN, AVGO, BKNG, BMY, CI, CRM, CSCO, CVS, DKS, ELV, GDDY, HCA, HII, MO, PG, QRVO, TMUS, UNH, WSM	free cash flow, fundamentals, Quality, small caps, valuation, value	The letter extensively discusses valuation disparities between large expensive mega-cap stocks and smaller companies. Distillate's strategies focus on attractive valuations with their Small/Mid QV offering 9.1% free cash to enterprise value yield compared to expensive broader markets. The firm emphasizes being disciplined on valuation and finding high quality companies at attractive prices.		View
2023 Q4	Dec 31, 2023	Auxier Asset Management	7.4%	0.0%	ABT, ACGL, AFL, AIG, AON, BAC, BK, BKNG, BRK-A, C, ELV, GOOGL, KR, MA, MCD, MDLZ, MMC, MRK, MSFT, PM, TRV, UNH, V, WFC	AI, Banking, energy, healthcare, insurance, small caps, technology, value	Artificial Intelligence drove significant investments in new AI programs and increased data center capacity. In a CNBC survey of top technology companies, 47% of respondents said that AI is their #1 budget item for the next 12 months. AI integration into cloud services benefited companies like Microsoft.		View
2022 Q4	Dec 31, 2022	Diamond Hill Large Cap Strategy	12.1%	-13.1%	ABT, AIG, AMZN, CAT, COP, FCX, GOOG, HD, MSFT, TFC, UNP	-			View
2023 Q4	Dec 1, 2024	Polen Capital – Global SMID Company Growth	3.5%	9.5%	ABT, ADP, ALGN, AMZN, AON, EL, MSFT, NESN.SW, NVO, SAP, WDAY	global, growth, healthcare, Quality, technology	SAP's transition to the cloud continues at pace with robust cloud revenue growth and expanding cloud gross margins. Management is guiding cloud sales growth through 2025 in the mid-20% range. Workday operates in the $100bn+ global HCM market and is expected to generate 20%+ annualized earnings growth over the next three to five years.	ABT AVGO\|BYD\|CRWD\|MELI\|MSFT\|NFLX\|NVDA\|NVO\|ORLY\|SPOT SAP AMZN WDAY	View
2024 Q3	Oct 7, 2024	Rodrigo Benedetti	-	-	ABT, APP, ARKK, ASTS, COOP, EW, HIFS, KRE, LUMN, MBIN, MDT, MEDP, PFBC, TMDX	Europe, financials, Medical Devices, Shorts, Tankers, trading, volatility	Manager sees opportunities in tankers due to seasonal weakness ending and Middle East conflict escalation. Expects enforcement of dark fleet sanctions to benefit compliant fleet carrying offsetting output from Saudi Arabia and others, tightening ship availability. However, notes growing orderbook and higher valuations make tankers difficult as long-term holds.	EW	View
2022 Q3	Oct 26, 2022	Diamond Hill Large Cap Strategy	7.9%	14.7%	ABT, AIG, COP, DE, GOOG, NDAQ, PFE, SYK, VFC	-			View
2025 Q3	Oct 24, 2025	Mairs & Power – Balanced Fund	-	6.5%	ABT, AMZN, ENTG, FI, FUL, GOOG, HON, JNJ, JPM, MDT, MSI, NEOG, PFG, TECH, TGT, TXN, UNH, USB, WEC, WFC	AI, Balanced, financials, healthcare, technology, underperformance, Utilities, value	AI-related stocks have dominated market performance since ChatGPT's 2022 launch, with 40 AI-related S&P 500 stocks accounting for 75% of market returns. The AI and data-center buildout is fueling a multi-year capital expenditure cycle extending beyond semiconductors to power generation, transmission, and thermal management components. However, the Fund largely lacks exposure to these high-performing AI companies, contributing to underperformance.		View
2025 Q3	Oct 19, 2025	Carillon Eagle Growth & Income Fund	-	-	ABBV, ABT, ACN, AVGO, CARR, DUK, ETN, GLW, GS, JPM, KO, LRCX, MCD, MDLZ, MSFT, ORCL, PG, PNC, RTX	AI, financials, growth, healthcare, income, large cap, semiconductors, technology	AI deployment continues to drive market performance with the Magnificent Seven up over 17%. The fund maintains exposure to AI infrastructure leaders like Corning, Oracle, and Broadcom, though managers reduced AI exposure to neutral levels after taking profits due to concentration concerns.		View
2025 Q3	Oct 15, 2025	Parnassus Value Equity Fund	7.5%	-	ABNB, ABT, BAC, BALL, BK, CBRE, CMI, DE, DHI, GOOGL, HD, JPM, MA, NICE, NVO, ORCL, SPGI, SYK, TSM, WDC	AI, financials, healthcare, large cap, Quality, technology, value	The AI megatrend is fueling demand for high-capacity, cost-effective storage and driving positive sentiment toward IT holdings. Oracle continues to benefit from the AI megatrend with accelerating cloud growth, while Taiwan Semiconductor Manufacturing Company benefits from growing demand for AI chips.		View
2024 Q3	Oct 12, 2024	Torre Financial	8.0%	16.5%	ABNB, ABT, ADBE, ADC, AMT, AMZN, CRWD, DHR, EW, FDS, GOOGL, ICE, MCO, MELI, PYPL, SPGI, TMO, TTD, UNH, ZS	diversification, healthcare, Quality, REITs, Resilience, technology, value	Manager has systematically diversified portfolio beyond technology into healthcare, real estate, and risk management companies over the past two years. This diversification has helped decrease volatility and provided better downside protection when markets declined.		View
2025 Q4	Jan 21, 2026	Meridian Growth Fund	-0.4%	-6.4%	ABT, CERT, CHDN, COO, DOCS, DT, EXAS, GFS, GMED, RELY, SAIC, TNDM, TPB, TRMB, VCYT	growth, healthcare, Medical Devices, Quality, small caps, technology	Healthcare was the portfolio's largest allocation and top-performing sector for the quarter, with the fund maintaining an overweight position. The manager views healthcare as undervalued relative to long-term fundamentals after lagging the broader market for four years. Several healthcare holdings contributed positively including medical device companies and diagnostics firms. The fund's investment approach emphasizes high-quality businesses with recurring revenue, sustainable competitive advantages, and strong balance sheets. However, the quarter saw relative outperformance by lower-quality stocks which created a modest headwind to performance given the portfolio's quality bias. The fund focuses on small-cap growth investments, benchmarked against the Russell 2500 Growth Index. Small caps delivered solid annual returns of 12.8% for the year, though below large-cap returns, with value outperforming growth in the quarter.		View
2025 Q4	Jan 18, 2026	Mairs & Power – Small Cap Fund	0.0%	4.0%	ABT, AIR, BSY, CASY, CVRX, EXAS, INSP, KNF, MEDP, MGPI, NVT, WK	AI, earnings, healthcare, rates, small caps, technology, Valuations	AI and increasing market concentration took center stage in 2025, with the rate of investment in technology and AI infrastructure spending driving market narrative. McKinsey projects nearly $7 trillion in capital expenditures will be needed worldwide by 2030 to build up AI infrastructure. The managers believe they are entering a transition period for AI, with signals that the cycle is moving into a higher risk phase given the flood of capital and unusual financing structures. Small cap companies are showing their first signs of earnings growth recovery after three years of contraction, posting 13% growth in 2025. Small cap stocks are still trading at a significant discount to the S&P 500, which the managers believe presents an attractive opportunity for long-term investors. Lower interest rates, reduced corporate tax burdens, and regulatory relief could offer further support to small caps. The Federal Reserve cut rates in the fourth quarter with expectations for lower interest rates continuing into 2026. Lower rates should provide a tailwind to profitability for smaller companies and make it easier for them to find talent. Interest rate changes take time to work through the economy, typically around a year to feel the effects.		View
2025 Q4	Jan 15, 2026	Alger Small Cap Focus Fund	3.6%	6.9%	ABT, EXAS, GH, NBIS, NTRA, QURE, STVN	AI, Biotechnology, Diagnostics, growth, healthcare, small cap, technology	The market's biggest tailwind was continued investment tied to artificial intelligence, though increasingly accompanied by scrutiny around AI infrastructure bottlenecks, sources of financing, and whether the AI theme could deliver returns commensurate with capital deployed. U.S. business spending appears to be accelerating, driven by burgeoning demand for AI infrastructure. Multiple portfolio holdings focus on cancer diagnostics and treatment, including molecular diagnostics companies specializing in liquid biopsy tests, colorectal cancer screening, and molecular residual disease testing. The oncology testing market shows strong momentum with favorable reimbursement dynamics and higher test volumes. Cloud computing is growing and supporting innovation, with corporations digitizing their operations. The fund holds positions in AI-focused cloud infrastructure providers operating GPU compute capacity, benefiting from accelerating AI adoption as demand for high-quality GPU compute continues to outstrip available supply. Portfolio includes biotechnology companies developing gene therapies for rare diseases like Huntington's disease, an area with no approved disease-modifying treatments. The sector faces regulatory uncertainty but shows encouraging efficacy signals in clinical trials.	STVN QURE NBIS NTRA GH EXAS	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
2024 Q3	Sep 30, 2024	Mairs & Power – Balanced Fund	0.0%	11.0%	ABT, AMP, CASY, CHRW, ECL, FI, HRL, HSY, JPM, LFUS, LLY, LOW, MSI, NEOG, NVDA, PG, ROK, TECH, TTC, UPS	Balanced, Bonds, consumer, healthcare, industrials, rates, technology	The Federal Reserve cut its key lending rate by half a percentage point in September, with potential for additional cuts in November and December. Lower rates are expected to benefit smaller companies by reducing borrowing costs and improving earnings growth prospects.		View
2023 Q3	Sep 30, 2023	Diamond Hill Large Cap Strategy	7.9%	14.7%	ABT, AIG, CAT, COP, CVX, DIS, EXR, FANG, GM, HCA, KKR, KMX, LH, SHW, TGT, TXN, VZ	energy, fundamentals, large cap, rates, real estate, Utilities, value	Energy sector had the best Q3 performance with 12% gains driven by rising oil prices. Portfolio benefited from holdings in ConocoPhillips and Chevron which outpaced the index. Added Diamondback Energy as a pure-play Permian operator with strong operational capabilities and intelligent capital allocation.		View
2023 Q3	Sep 30, 2023	Mairs & Power – Balanced Fund	0.0%	11.0%	ABT, CRM, ECL, ENTG, GGG, GOOGL, HON, HRL, LLY, MSFT, MSI, TECH, TTC, TXN, USB, XEL	AI, Balanced, fixed income, growth, inflation, rates, technology, value	Artificial intelligence is creating efficiencies and driving investment opportunities, particularly in technology companies. The fund sees AI as crucial for creating workforce efficiencies amid changing labor dynamics. Microsoft's leadership in AI helped propel it to all-time highs this year.		View
2022 Q4	Sep 2, 2023	Vulcan Value Partners – Large Cap	8.2%	17.6%	ABT, AMAT, AMZN, BALL, GE, META, NICE, SPLK, TDG	-			View
2024 Q2	Jun 30, 2024	Coho Relative Value Equity	0.0%	6.1%	ABT, AMGN, CAG, CVS, DG, DIS, GPN, NKE, NVDA, STZ, UNH	AI, Concentration, growth, healthcare, technology, value	The manager emphasizes their value-focused approach, noting the portfolio trades at an uncharacteristically meaningful discount to the S&P 500 Index. They believe the market is mispricing risk and undervaluing the earnings, cash flow, and dividend growth potential of their portfolio. The valuation gap between their portfolio and the market is expected to close as market breadth expands.		View
2023 Q4	Feb 23, 2024	Coho Relative Value Equity	0.0%	6.1%	AAPL, ABT, AMZN, BAX, CAG, COR, CVS, DG, DIS, GOOGL, MCHP, MDT, META, MMC, MSFT, NKE, NVDA, SJM, TMO, TSLA	AI, Consumer Staples, GLP1, healthcare, Quality, technology, Valuations, value	AI euphoria following ChatGPT release drove Information Technology sector returns over 40% in 2023. The excitement surrounding AI potential caused investors to ignore typical inverse correlation between rates and P/E multiples. AI-related stocks dominated market performance but created narrow market breadth.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
May 3, 2026	Substack	Rijnberk Invest Insights	Abbott Laboratories	Healthcare	Medical Devices	Bull	New York Stock Exchange	Abbott Laboratories, Cardiovascular Devices, diabetes care, diagnostics, Dividend King, Exact Sciences Acquisition, growth potential, Healthcare Sector, Medical devices, Undervalued Stock	View Pitch
Apr 28, 2026	Fund Letters	Polen Capital - Global Growth	Abbott Laboratories	Health Care	Health Care Equipment & Supplies	Bull	NYSE	diagnostics, Diversified, Durable Growth, Global, healthcare, Medical devices, value opportunity	View Pitch
Apr 13, 2026	Fund Letters	Torre Financial	Abbott Laboratories	Medical Devices	Health Care Equipment & Supplies	Bull	New York Stock Exchange	Base Business, defensive, Diversified Healthcare, healthcare, Medical devices, Sector Rotation, steady growth	View Pitch
Apr 13, 2026	Fund Letters	Polen Capital - Global Growth	Abbott Laboratories	Health Care	Health Care Equipment	Bull	NYSE	diagnostics, Equity, growth, healthcare, Medical devices, Medtech, Nutrition, pharmaceuticals, turnaround	View Pitch
Aug 7, 2025	Seeking Alpha	The Alpha Sieve	Abbott Laboratories	Health Care	Medical Devices	Bear	NYSE	—	View Pitch

BSD Shareholders of ABT

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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