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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q3 | Sep 30, 2024 | Saturna Sustainable Funds | 4.5% | 14.4% | AAPL, ACN, ADBE, HD, LLY, LOW, LULU, MSFT, NOK, NOW, NVDA, NXPI, SBUX, TEL, TSM | duration, Fed, rates, Sustainable, technology, volatility | The quarter saw significant volatility spikes, particularly on August 4 when the VIX jumped 42 points due to unwinding of popular hedge fund trades including the yen carry trade and AI-exposed technology stocks. These technical rather than fundamental disruptions created forced selling feedback loops as leveraged positions were unwound. | View | |
| 2023 Q3 | Sep 30, 2023 | Baron FinTech Fund | 1.1% | 11.5% | ACGL, ACN, ADYEY, APO, CME, EFX, FICO, FIS, GPN, HLI, IBKR, INTU, LPLA, MA, MELI, MKTX, MORN, MSCI, NCNO, PGR, SPGI, SQ, TW, V | Capital markets, Fintech, growth, payments, software, technology | The fund focuses on competitively advantaged, growing fintech companies across all market capitalizations and geographies. Many fintech stocks have already gone through their own version of a recession with multiples near decade lows, but outlooks are more promising due to cost restructuring and focus on profitability. | ACGL MORN CARTRADE.NS INTU APO |
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| 2023 Q3 | Sep 30, 2023 | Torre Financial | 0.6% | 32.9% | 0700.HK, ACN, ADBE, ASML, CDNS, COST, GE, GOOGL, INTU, IT, LIN, MA, MSCI, MSFT, OR.PA, PG, RELX.L | aerospace, Compounding, concentrated, Consumer Staples, long-term, Quality, software, technology | The fund focuses on high-quality companies with superior economics, strong market positions, pricing power, high margins and asset-light business models. These characteristics result in high returns on capital and the ability to compound earnings over the long term. | 0GEG LN CDNS |
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| 2025 Q2 | Aug 18, 2025 | Baron Durable Advantage Fund | 15.6% | 7.4% | ACGL, ACN, AMZN, APH, AVGO, CME, DHR, GOOGL, LPLA, META, MPWR, MSFT, NVDA, SPGI, TMO, TSM, TXN, TXRH, UNH, V, WELL | AI, growth, large cap, Quality, semiconductors, technology | AI infrastructure buildout is proving durable with NVIDIA maintaining leadership position. The company disclosed line of sight to projects requiring tens of gigawatts of AI infrastructure, with every gigawatt representing $40-50 billion opportunity. Scaling laws have expanded beyond pre-training to post-training and time-test scaling, all driving GPU demand. | CME APH UNH META NVDA AVGO |
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| 2025 Q2 | Aug 11, 2025 | Baron FinTech Fund | 9.2% | 7.7% | ACGL, ACN, ALKT, CME, CWAN, FICO, FIS, GLOB, GWRE, HOOD, IBKR, INTA, INTU, KKR, KNSL, LPLA, MA, MCO, MELI, MORN, MSCI, PGR, SCHW, SPGI, TW, V, VRSK | Capital markets, E-Commerce, Financial Services, Fintech, payments, technology, volatility | The fund focuses on competitively advantaged, growing fintech companies across all market capitalizations and geographies. The portfolio is segmented into seven investment themes including Tech-Enabled Financials, Information Services, Enterprise Software, Capital Markets, Payments, E-Commerce, and Digital IT Services. The manager expects fintech companies to outperform over time due to their competitive advantages and growth prospects. | View | |
| 2025 Q2 | Aug 11, 2025 | Aoris International Fund | 8.2% | - | ACN, APH, ATCO-A.ST, CPRT, DPLM.L, HLMA.L, JKHY, MSFT, OR.PA | Beauty, Concentration, growth, Industrial, international, Quality, software, technology | Microsoft's AI computing revenue rose rapidly with demand exceeding capacity. Copilot AI product experiencing very rapid growth, generating 3.7x returns on investment according to IDC. AI tools being applied to enhance productivity across software coding, customer enquiries, and sales preparation. | 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 |
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| 2025 Q2 | Jul 27, 2025 | Weitz Large Cap Equity Fund | 3.6% | -0.4% | ACN, AMZN, CHTR, CRM, CSU.TO, GOOGL, IDXX, IT, KMX, MA, MELI, META, MSFT, ORCL, TMO, V, VMC | AI, healthcare, large cap, software, technology, value | Capital spending on AI infrastructure continued at a blistering pace, with investors ruthlessly sorting stocks into perceived AI winners and losers. The AI revolution is in early days with rapid and fluid developments, creating dramatic stock price changes in both directions. | MELI |
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| 2025 Q2 | Jul 27, 2025 | Weitz Multi Cap Equity Fund | 3.6% | 4.3% | ACIW, ACN, AVGO, CDW, CHTR, CSGP, GCI, GOOGL, IT, KMX, LBRDA, LKQ, MA, META, MLM, NVDA, PRM, V, VMC | AI, Multi Cap, Quality, technology, value | AI infrastructure buildout is in early days with chip makers like Nvidia and Broadcom being biggest winners so far. Hyperscalers including Alphabet and Meta hold the purse strings on unprecedented AI infrastructure investment, giving them advantage to modulate spending based on returns while being funded by healthy cash flows from core businesses. | CDW ACN META GOOGL HEI |
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| 2025 Q2 | Jul 22, 2025 | Aristotle International Equity Fund | 10.7% | 14.6% | 4578.T, 6758.T, 7532.T, ACN, ALC, CCO.TO, EBS.VI, MC.PA, SAF.PA | aerospace, Asia, Europe, international, Luxury, nuclear, Quality, Trade Policy | Trade policy remained a focal point with President Trump introducing a universal 10% import tariff and reciprocal tariffs on dozens of countries. A 90-day pause on reciprocal tariffs was enacted for almost all countries, and the U.S. and U.K. finalized the Economic Prosperity Deal. Major economies experienced downward revisions to 2025 GDP growth projections due to trade policy uncertainty. | SAF.PA CCO.TO MC.PA ALC SAF FP MC FP ALC SW |
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| 2025 Q2 | Jul 22, 2025 | Columbia Global Technology Growth Fund | 24.8% | - | AAPL, ACN, ALAB, AMZN, ASML, AVGO, CRM, GOOGL, HOOD, INTU, LRCX, META, MSFT, NFLX, NOW, NVDA, TSM, TTD | AI, Cloud, global, growth, semiconductors, technology, Trade Policy | AI remained the most significant driver of technology market performance during the quarter. Investors remained hyper-focused on AI infrastructure spending and return on investment across all sectors. Companies like NVIDIA reported extraordinary demand for data-center products driven by generative AI adoption across hyperscalers, enterprise and sovereign customers. | NOW CRM ACN TTD AVGO NVDA HOOD ALAB AAPL TMUS GPN FI HOOD ORCL MSFT AVGO NVDA |
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| 2025 Q2 | Jul 22, 2025 | Madison Investors Fund | 3.1% | 2.3% | A, ABNB, ACGL, ACN, ADI, ALC, AMZN, BN, CDW, CHTR, CPRT, DE, DHR, ELV, FERG, FI, GOOGL, IT, KEYS, LBRDA, LOW, MMC, MSCI, NKE, PCAR, PGR, PH, SBUX, SCHW, TJX, TXN, V | consumer, financials, industrials, large cap, Quality, technology, value | The fund focuses on high-quality, durable businesses across a wide range of industries selling for reasonable or cheap prices. This philosophy emphasizes proven businesses over short-term promises and momentum. The managers believe this approach has worked for decades and will continue to deliver solid long-term performance. | MSCI CDW ABNB ACGL FI ADI FERG |
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| 2025 Q2 | Jul 21, 2025 | The Davenport Core Leaders Fund | 11.1% | 7.3% | AAPL, ACN, AMZN, AVGO, EA, ELV, GOOGL, ISRG, META, MSFT, NOW, NVDA, NVO, ORCL, SPOT, TEL, UNH, UPS, WMT, XOM | AI, growth, large cap, momentum, technology, Valuations, value | Artificial intelligence is prompting enormous spending from tech titans and has joined forces with monetary stimulus to embolden risk taking. AI is incredibly promising and the firm expects to participate via ownership of select technology leaders, though many perceived beneficiaries are prioritizing growth over profit. | PWR NVDA |
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| 2025 Q2 | Jul 21, 2025 | The Davenport Value & Income Fund | 2.6% | 6.5% | AAPL, ACN, AMZN, AVGO, EA, ELV, GOOGL, ISRG, META, MSFT, NOW, NVDA, NVO, ORCL, ROK, SPOT, TEL, UNH, UPS, XOM | AI, earnings, Federal Reserve, momentum, small caps, technology, Valuations | Artificial intelligence is described as a powerful technology theme prompting enormous spending from tech titans. The manager notes AI is incredibly promising and expects to participate via ownership of select technology leaders, though warns of a gold rush mindset in certain corners of the market with many perceived beneficiaries prioritizing growth over profit. | View | |
| 2025 Q2 | Jul 21, 2025 | The Bristol Gate U.S. Equity Strategy | - | - | AAPL, ACN, ATD.TO, AVGO, CIGI.TO, EFN.TO, ENGH.TO, GE, JWEL.TO, MCHP, MCK, META, MMC, MSFT, NVDA, TMO, TVK.TO, UNH, WCN, ZTS | AI, dividends, growth, healthcare, Quality, technology, Trade Policy, volatility | AI enthusiasm continues to drive tech stock performance with demand for AI networking, custom accelerators, and efficient computing solutions. Hyperscalers are seeking efficient computing solutions to lower datacenter investment costs. The AI trade remains unsatisfied among investors despite strong performance. | TVK.TO ACN TMO UNH MCK GE AVGO ACN MCK AVGO |
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| 2025 Q2 | Jul 16, 2025 | Harding Loevner Global Equity | 10.2% | 7.9% | 0700.HK, 1299.HK, 300760.SZ, 4519.T, 6146.T, 6758.T, 6861.T, ABBV, ACN, ADBE, ALC, ALFA.ST, AMAT, AME, AMZN, APH, ASML, ATCO-A.ST, ATD.TO, ATKR, AVGO, BBCA.JK, BKNG, CME, CPG.L, CRM, CSGP, D05.SI, DE, DHR, DPLM.L, EPIA.ST, GLOB, GMAB, GOOGL, HDFCBANK.NS, HEI, HLN.L, HON, JNJ, META, MSFT, NFLX, NOC, NOW, NVDA, PGR, ROG.SW, SAP, SGS.SW, SHEL, SLB, SNPS, SU.PA, SY1.DE, TMO, TSM, TTD, TW, V, VRTX, WALMEX.MX | AI, Cloud, Data centers, global, growth, semiconductors, technology | AI models released in 2024 have demonstrated marked improvement in performance against new benchmarks, including major strides in reasoning to solve complex problems. Many companies can now point to real products and applications as well as measurable effects on their businesses. Competition among big tech companies appears to be intensifying as more companies join the race to develop cutting-edge AI systems. | ADBE BKNG ADBE |
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| 2025 Q2 | Jul 16, 2025 | Polen Capital – Global SMID Company Growth | 7.9% | 1.9% | AAPL, ACN, ADP, ADYEN.AS, AON, AVGO, GOOGL, IDXX, MA, MSFT, NVDA, ORCL, SBUX, SGE.L, SHL.DE, SHOP.TO, TMO, V, WDAY, ZTS | AI, Cloud, cyclicals, Global Growth, Oracle, Quality, semiconductors | AI re-emerged as the dominant narrative driving much of the market's leadership in the second quarter. Oracle was positioned as a go-to cloud infrastructure provider for training generative AI models, experiencing significant revenue growth acceleration. The AI leadership extended to AI-adjacent infrastructure segments like utilities, select software businesses, and pockets within industrials. | IDXX SBUX ORCL GLOB IDXX SBUX ORCL |
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| 2023 Q2 | Jul 11, 2023 | Rathbones | - | - | ACN, ADBE, AMZN, ARM, ASML, CHGG, GOOGL, INTC, META, MSFT, MTCH, NFLX, NVDA, PYPL, TSM, UBER, WEN | AI, Bonds, diversification, Hydrogen, Japan, semiconductors, technology | The launch of ChatGPT has triggered a new artificial intelligence gold rush among investors, driving strong gains across technology companies. Generative AI represents a breakthrough that can create original content rather than just identify patterns. The value currently accrues primarily to Nvidia as the dominant chip provider, though the long-term profit distribution across the AI supply chain remains uncertain. | 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 |
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| 2024 Q2 | Jul 10, 2024 | Aristotle International Equity Fund | 10.5% | 13.3% | 1299.HK, 6367.T, 7532.T, ACN, CCO, D05.SI, MGA, MUV2.DE, NEM.DE, NVS, ROG.SW, SAF.PA, SONY | fundamentals, international, long-term, Pharmaceuticals, Quality, value | The fund made a significant portfolio change by selling Novartis and purchasing Roche, viewing Roche as a more optimal investment. Roche is positioned as a pioneer in personalized healthcare with its unique structure combining pharmaceuticals and diagnostics, offering compelling catalysts including market share gains in oncology and increased penetration of key drugs. | ROG.SW |
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| 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 |
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| 2025 Q2 | Jun 30, 2025 | Andvari Associates | 8.2% | - | ACN, APH, ATCO-A.ST, CPRT, DPLM.L, HLMA.L, JKHY, MSFT, OR.PA | AI, Beauty, Cloud, growth, Industrial, international, Quality, technology | Microsoft's AI computing revenue rose rapidly with demand exceeding capacity. Copilot AI product experiencing very rapid growth, generating 3.7x returns on investment according to IDC. AI tools being applied to enhance productivity across software coding, customer enquiries, and sales preparation. | JKHY OR.PA ACN CPRT HLMA.L DPLM.L MSFT APH |
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| 2024 Q2 | Jun 30, 2024 | Saturna Sustainable Funds | -1.9% | 9.5% | AAPL, ACN, ADBE, DASTY.PA, FERG.L, GIB.A.TO, GSK, HD, LLY, LOW, LULU, NVDA, NVO, NXPI, SBUX, SCHNEIDER.PA, STM, TJX, TSM, WKL | AI, global, growth, healthcare, large cap, semiconductors, Sustainable, technology | Generative AI is driving stock prices, index returns, and capital expenditures across technology companies. The fund sees significant productivity enhancements from AI tools and believes AI will follow the path of transformative technologies like desktop computers and cellular phones. Big tech companies are committing tens to hundreds of billions in capital investment for AI development. | View | |
| 2024 Q2 | Jun 30, 2024 | Burke Wealth Managament The Focused Growth Strategy | 5.9% | 21.9% | ACN, ADBE, AMD, AMZN, CRM, CRWD, GOOGL, NOW, NVDA, SNOW, WDAY | AI, cybersecurity, Data centers, Enterprise Software, growth, large cap, semiconductors, technology | The AI revolution continues to be at the center of the market universe with Nvidia powering today's AI revolution through its Hopper and Blackwell chip sets. The durability of Nvidia's dominance in the data center is coming into clearer focus with ecosystem lock-in through CUDA programming language and accelerated product release cadence. Enterprise software companies are beginning to monetize AI-infused products after a period of testing and heavily discounted demos. | CRWD NVDA |
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| 2023 Q2 | Jun 30, 2023 | Baron FinTech Fund | 5.3% | 10.3% | ACN, APO, BLK, CSGP, FI, FICO, INTU, LPLA, MA, MELI, MKTX, MSCI, NU, PGR, SHOP, SPGI, TW, V | AI, Banking, Capital markets, Fintech, payments, private credit, software, technology | Network International received takeover offers and was acquired by Brookfield for $2.8 billion. Visa announced acquisition of Brazilian company Pismo for $1 billion. M&A activity picking up in payments sector with valuations at attractive levels. | View | |
| 2023 Q2 | Jun 30, 2023 | Burke Wealth Managament The Focused Growth Strategy | 15.2% | 36.7% | ABNB, ACN, AMZN, ASML, CHTR, CMCSA, CRM, GOOGL, ISRG, META, NOW, NVDA, PYPL, SPOT, TSM, UNH | AI, Cloud, growth, large cap, semiconductors, software, technology | Manager views AI as the fourth major computing revolution after PC, internet, and mobile. Portfolio companies like ServiceNow, Salesforce, and Accenture are positioned to deliver AI applications to enterprises. The AI revolution creates opportunities for productivity gains and new business models across the portfolio. | View | |
| 2024 Q1 | May 9, 2024 | Polen Capital – Global SMID Company Growth | 3.5% | 9.5% | AAPL, ABNB, ACN, ADBE, ADP, AMZN, GLOB, META, MSFT, NESN.SW, NVDA, OR.PA, PAYC, SAP, SGE.L, TSLA, WDAY | AI, Cloud, global, growth, Quality, technology | SAP's transition to the cloud continues at pace with strong cloud revenue growth and expanding cloud gross margins. Management is guiding cloud sales growth through 2025 in the mid-20% range. Amazon's AWS saw a long-awaited re-acceleration in revenue growth during the period. | View | |
| 2024 Q1 | May 2, 2024 | Madison Investors Fund | 7.8% | 17.0% | A, ACGL, ACN, ADI, ALC, AMZN, BDX, BRK.B, CHTR, CPRT, DLTR, FI, GOOGL, LBRDK, LOW, PCAR, PGR, PH, TJX, V | financials, growth, industrials, large cap, Quality, technology, value | Two insurers, Arch Capital and Progressive, were large contributors during the quarter. Both are benefiting from attractive market conditions which has boosted underwriting profits. Investment income should continue to rise as they roll over fixed income portfolios at more favorable coupon rates. | PH FISV PGR ACGL PCAR |
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| 2026 Q1 | Apr 29, 2026 | Weitz Partners III Opportunity Fund | -8.1% | -8.1% | ACN, CRM, DHR, IEX, LBRDK, MSFT, POOL, ROP, SIRI, TMO, TXN, V, VMC | AI, energy, Geopolitical, Long/Short, software, technology, value | View | ||
| 2026 Q1 | Apr 28, 2026 | Pzena Focused Value strategy | -4.7% | -4.7% | ACN, AVT, C, CDW, COF, CTSH, DAL, DOW, DOX, FMC, HUM, OSK, SWKS | energy, financials, healthcare, industrials, technology, value | CDW ACN CTSH COF HUM |
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| 2025 Q1 | Apr 27, 2025 | Aoris International Fund | -0.8% | -0.8% | ACN, APH, CPRT, EXPN.L, FAST, GGG, GWW, MSCI, MSFT, OR.PA, RELX.L, V | AI, concentrated, international, Quality, Resilience, Trade Policy, value | Aoris focuses on high-quality, wealth-creating businesses with demanding quality criteria applied to a maximum of 15 companies. They emphasize resilient businesses that provide essential products and services to other businesses, helping customers improve efficiency and reduce costs. | GWW EXPN.L CPRT MSFT ACN REL.L V |
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| 2026 Q1 | Apr 22, 2026 | Pzena International Value ADR Strategy | 1.1% | 1.1% | 005930 KS, 6326.T, 7733.T, ACN, BAS.DE, EQNR, MC.PA, NOK, P911.DE, PUB.PA, RKT.L, SHEL, UU.L | AI, China, energy, Europe, international, Recovery, value | P911.DE UU.L MC.PA |
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| 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 |
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| 2026 Q1 | Apr 17, 2026 | Titan Wealth | - | - | ACN, ADBE, AEM, AMD, BKR, CCJ, GLEN.L, LLY, MELI, META, MOS, MSFT, ORCL, PAAS, PLTR, RELX.L, RWE.DE, UL, XOM | AI, energy, geopolitics, infrastructure, Iran, Multi-Manager, Regional | RWE.DE |
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| 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 |
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| 2024 Q1 | Apr 15, 2024 | Aristotle International Equity Fund | 10.5% | 13.3% | 1299.HK, 6326.T, 7532.T, ACN, AHT.L, BN, CCO, MC.PA, MGA, MUV2.DE, NEM.DE, ROG.SW, SAF.PA, SONY | aerospace, Asia, Europe, gaming, international, Reinsurance, value | Safran benefited from increased narrow-body air traffic above 2019 levels and aging fleet demand for service. The company's LEAP engines reduce fuel consumption and CO2 emissions, with deliveries increasing 38% in 2023. Airlines are upgrading fleets to be more efficient and environmentally friendly. | MUV2.DE SAF.PA 1299.HK 6758.T |
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| 2024 Q1 | Apr 15, 2024 | Harding Loevner Global Equity | 5.2% | 15.6% | 0700.HK, 1398.HK, 2607.HK, 4519.T, 6758.T, AAPL, ABBV, ACN, ADBE, ALC, AMAT, AME, AMZN, ASML, ATCO-A.ST, AVGO, B3SA3.SA, BBCA.JK, BHP, BKNG, CME, COST, CRM, CSCO, CSGP, DE, DHR, GLOB, GMAB, GOOGL, HDB, HON, ISRG, KER.PA, LLY, MELI, META, MSFT, NFLX, NKE, NOC, NOW, NVDA, OR.PA, PINS, RGEN, RIO, ROG.SW, ROK, SAP, SGSN.SW, SLB, SNPS, SU.PA, SY1.DE, TMO, TSLA, TSM, TW, UNH, VRTX | AI, global, growth, Quality, software, technology | The fund sold NVIDIA due to valuation concerns despite believing in AI's transformational impact. They are investing in more reasonably priced software companies positioned to benefit from AI, including Salesforce, Globant, and SAP. The managers see strong prospects for many holdings as AI applications proliferate but emphasize the importance of durable competitive advantages. | 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 |
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| 2026 Q1 | Apr 13, 2026 | The Davenport Value & Income Fund | 1.9% | 1.9% | ACN, BDX, CMCSA, CSCO, CVX, ELV, ENB, FDX, NEE, NSC, NVO, SLB, TXN, UNH, UNP, VSNT, WAT, WY, XOM | AI, dividends, energy, Geopolitical, income, infrastructure, large cap, value | View | ||
| 2026 Q1 | Apr 13, 2026 | The Davenport Core Leaders Fund | -6.2% | -6.2% | AAPL, ACN, ADI, AVGO, CEG, EOG, ISRG, META, MRVL, MSFT, NOW, PWR, UNH | AI, energy, Iran, large cap, nuclear, Quality, technology | RYN CNS TKO FWONK CEG |
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| 2026 Q1 | Mar 31, 2026 | Oakmark Fund- International Small Cap | -2.5% | -2.5% | ACN, ADBE, COP, CRM, MMC, NFLX, RJF, ROP, SYF, SYY | AI, Buybacks, energy, large cap, software, technology, value | View | ||
| 2025 Q1 | Mar 31, 2025 | BlackRock Global Dividend Fund | 0.7% | 0.7% | ACN, AVGO, AZN, BA.L, BBVA, CMS, DEO, KO, LLY, MSFT, NVDA, NVO, RELX, TSM, TXN, UNH | AI, defense, dividends, Europe, global, healthcare, technology, Trade Policy | The fund avoided Nvidia exposure which proved beneficial as the stock faced market concerns from hedge fund short positions and anxiety about Chinese company DeepSeek's low-cost AI model. Broadcom was negatively impacted by AI-related market concerns and trade tensions. | View | |
| 2025 Q1 | Mar 31, 2025 | Madison Sustainable Equity Fund | - | - | A, AAPL, ACN, AMZN, COST, ECL, GOOGL, JPM, LIN, LLY, MSFT, NEE, ORCL, PGR, UPS, USB, V | financials, healthcare, Quality, sustainability, tariffs, technology | New tariffs announced by President Trump on April 2, 2025 are expected to erode business and consumer confidence, increase business costs, and keep inflation elevated. The impact is causing earnings estimate revisions and contributing to a more pronounced economic slowdown. | View | |
| 2025 Q1 | Mar 31, 2025 | Aristotle International Equity Fund | 3.8% | 3.8% | 3064.T, 7532.T, 9983.T, ACN, AZN.L, BN.TO, CCO.TO, D05.SI, DEO, MG.TO, MUV2.DE, NEM.DE, ROG.SW, SAF.PA, SONY | AI, gaming, international, nuclear, Quality, Reinsurance, Trade Policy, value | President Trump announced new tariffs on imports from Canada, Mexico and China, with additional warnings to the EU over imbalanced trade arrangements. The targeted industries included autos, steel and aluminum, reflecting a focus on reshoring and industrial policy. This renewed trade uncertainty prompted central banks to lower growth forecasts and adopt more cautious tones on future rate moves. | 9983.T ACN CCO.TO 6758.T MUV2.DE |
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| 2025 Q1 | Mar 31, 2025 | Weitz Multi Cap Equity Fund | 0.8% | 0.8% | ACN, BRK-A, CMCSA, DHR, GOOGL, HEI, IDXX, IEX, LBRDA, LICT, LKQ, META, PRM, TECH, V | aerospace, AI, healthcare, Multi Cap, technology, Trade Policy, value | The AI Trade was dealt a setback in late January after Chinese firm DeepSeek announced its advanced AI model had been developed at a fraction of the cost of U.S. competitors. This led to greater investor scrutiny of U.S. firms' spending plans. Alphabet's Google unit is on the front lines of the Traditional Search vs. GenAI battle. | View | |
| 2025 Q1 | Mar 31, 2025 | Weitz Partners III Opportunity Fund | -0.6% | -0.6% | ACN, ADBE, AMZN, AON, BRK-A, DHR, GOOGL, GPN, IEX, KMX, LBRDA, LH, META, MSFT, PRM, ROP, TECH, TMO, V | AI, Concentration, large cap, Long/Short, technology, Trade Policy, value | The AI Trade faced a significant setback in late January when Chinese firm DeepSeek announced its latest AI model was developed at a fraction of the cost of U.S. competitors. This caused investors to take much harder looks at AI spending plans at U.S. technology firms and shifted market sentiment overnight. | View | |
| 2025 Q1 | Mar 31, 2025 | Rothschild & Co LongRun Equity Fund | - | - | 0700.HK, ACN, ADBE, ASML, CDNS, COST, GE, GOOGL, INTU, IT, LIN, MA, MSCI, MSFT, OR.PA, PG, RELX.L | Compounding, Consumer Staples, Defensive, long-term, Quality, technology | The fund focuses on high-quality companies with superior economics, strong market positions, pricing power, high margins and asset-light business models. These characteristics result in high returns on capital and the ability to compound earnings over the long term. | MSCI GE CDS |
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| 2023 Q1 | Mar 31, 2023 | Baron FinTech Fund | 4.8% | 4.8% | ACN, APO, BILL, CME, ENDV.L, FICO, GWRE, IBKR, INTU, LPLA, MA, MELI, MKTX, MSCI, PGR, SCHW, SPGI, TW, V, WEX | AI, Banking, Financial Services, Fintech, payments, software, technology | The Fund focuses on competitively advantaged, growing fintech companies across seven investment themes including Payments, Information Services, Tech-Enabled Financials, and Enterprise Software. Private market valuations for fintech companies are starting to catch up to steep drops in public markets, with reduced private capital investment expected to temper competitive intensity and increase profitability for publicly traded incumbents. | View | |
| 2023 Q1 | Mar 31, 2023 | Burke Wealth Managament The Focused Growth Strategy | 18.6% | 18.6% | AAPL, ACN, AMZN, BRK-A, CRM, CVX, GOOGL, ISRG, JNJ, JPM, MA, META, MSFT, NVDA, ORCL, PG, TSLA, UNH, V, XOM | AI, Banking, growth, large cap, semiconductors, technology | The public launch of ChatGPT marked AI's iPhone moment, representing the fourth major computing revolution after PC, internet, and mobile. Artificial intelligence will drive profound impacts on corporate productivity and society, with enterprises incorporating massive data lakes into language models for business-specific applications. | ISRG CRM ADI|BDX|FI|FND|HAS|META|MSFT|MSI|ORCL|TMO AAPL|MSFT|NFLX|NVDA|UNH |
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| 2025 Q1 | Mar 26, 2025 | Andrew Hill Investment Advisors | - | - | 1211.HK, AAPL, ACN, AMZN, ANET, CEG, DUK, EQT, GE, GLD, GRMN, JNJ, JPM, MSFT, NFLX, NVDA, PGR, TTEK | AI, Bonds, defense, Electric Vehicles, healthcare, inflation, Natural Gas, tariffs | The Trump Administration is pursuing tariffs, immigration controls, and budget cuts to reshape the US economy from global services-based to domestically focused manufacturing. Tariffs are viewed as generally bad policy that will result in lower margins and less efficient operations. The uncertainty around tariffs is leading to lower business activity and stock prices. | MSFT GRMN DUK AMZN AAPL NFLX JPM PGR JNJ |
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| 2024 Q4 | Feb 12, 2025 | Lyrical Asset Management | - | -2.1% | 005930.KS, ACN, AER, BAER.SW, BATS.L, BNP.PA, BP.L, ENX.PA, HSBA.L, MBG.DE, SAN, SHEL.L, TEP.PA | Asia, banks, EAFE, Europe, growth, international, Quality, value | AI deployment is creating both opportunities and challenges for portfolio companies. Samsung is experiencing margin pressure as AI favors High Bandwidth Memory technology where it currently lags behind SK Hynix. Teleperformance faces uncertainty as AI threatens to automate customer service functions, though the manager believes the company can adapt and benefit from increased complexity in remaining work. | TEP.PA 005930.KS |
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| 2025 Q4 | Dec 31, 2025 | Fortress – Fixed Income Fund | 0.6% | 5.5% | 005930.KS, 0700.HK, 1288.HK, 1585.HK, 1878.T, 2318.HK, 392.HK, 3968.HK, 6920.T, 8035.T, 916.HK, ACN, AMAT, AXP, BABA, BBDO, BNZL.L, BRK.B, BTI, CHTR, FMC, GMEXICOB.MX, GRMN, HSY, ITUB, IX, JNJ, LOGI, MC.PA, MRK, NTES, NVO, ORLY, PDD, PHM, ROG.SW, SBS, SNA, TSM, UNH, VALE, VRTX, WKL | AI, Bonds, emerging markets, healthcare, international, technology, Trade Policy, value | Artificial intelligence remained the primary focus for investors in U.S. markets, driving strength in technology names while masking moderation in other economic areas. The AI investment boom continued to power corporate capital expenditures and supply growth, though consumer confidence readings suggest potential underlying softness that could emerge if AI investment moderates. The manager sees excellent value opportunities globally, particularly in international and emerging markets despite strong recent performance. U.S. healthcare and consumer staples have been left behind by the AI frenzy and trade at appealing valuations. Portfolio companies show attractive price/earnings ratios with meaningful long-term return potential. Recent tariff policies continued to negatively impact U.S. consumers and companies throughout the year. However, international companies have been finding new trade arrangements and growth opportunities, benefiting from shifts in global trade patterns as the new U.S. administration alters terms of international cooperation. | View | |
| 2024 Q4 | Dec 31, 2024 | ClearBridge Investments International Growth ADR Strategy | - | - | ACN, ARGX, ASML, AZN, CHKP, EDP.LS, ICON, ITX.MC, LSEG.L, MUFG, NVO, RMS.PA, SAP.DE, SE, SHOP.TO, SONY, SPOT, TSM | Europe, growth, international, Japan, Luxury, tariffs, Valuations | Added French accessories maker Hermes which limits supply of ultra-premium handcrafted leather goods despite huge consumer demand. This creates waitlists but underpins brand desirability and exclusivity. Opportunities exist through increased volume, pricing power and product categories like ready to wear, jewelry, watches and beauty still in early growth stages. | View | |
| 2024 Q4 | Dec 31, 2024 | Harding Loevner Global Equity | - | 14.5% | 0700.HK, 1299.HK, 4519.T, 6758.T, 6861.T, 9962.T, AAPL, ABBV, ACN, ADBE, ADYEN.AS, ALC, ALFA.ST, AMAT, AMZN, ATCO-A.ST, ATKR, ATU.TO, AVGO, BBCA.JK, BKNG, CME, CRM, CSGP, D05.SI, DE, DHR, DPLM.L, EPI-A.ST, GLOB, GMAB, GOOGL, HDFCBANK.NS, HLN.L, HON, META, MSFT, NFLX, NOC, NOW, NVDA, RGEN, ROG.SW, ROK, SAP, SGSN.SW, SHEL, SLB, SNPS, SU.PA, SY1.DE, TMO, TSM, TW, UNH, VRTX, WMMVY | AI, Data centers, geopolitics, global, growth, semiconductors, technology, Trade Policy | Artificial intelligence continues to drive significant investment and growth across multiple sectors. The manager discusses the sustained momentum in AI development, with companies like OpenAI, xAI, Anthropic raising billions for infrastructure spending. New large language models have launched showing significant improvements, particularly in creating chains of thought to simulate human reasoning. The runway for model development remains long, suggesting sustainable demand for increasingly powerful hardware. | View | |
| 2024 Q4 | Dec 31, 2024 | Burke Wealth Managament The Focused Growth Strategy | 2.7% | 28.4% | AAPL, ACN, ADBE, AMZN, CHTR, CMCSA, CRM, CRWD, CVS, GOOGL, HUM, LLY, MSFT, NOW, NVDA, NVO, SNOW, UNH | AI, growth, healthcare, large cap, regulation, software, technology, Telecommunications | The manager discusses the dawn of the Agentic Age where AI agents will solve problems and complete business tasks, with marginal cost of labor approaching zero for tasks AI can complete. AI agents will allow knowledge workers to operate at the top of their degree and eliminate mindless tasks. The manager expects this to drive productivity gains and help solve labor shortage issues. | View | |
| 2024 Q4 | Dec 31, 2024 | BlackRock Global Dividend Fund | -4.6% | 9.5% | AAPL, ABBV, ACN, AVGO, AZN, CRM, MDLZ, MSFT, NVO, RELX, TSLA, TSM, TXN, UNH, WMB | dividends, energy, global, healthcare, Quality, technology | Broadcom significantly boosted performance as it reported a sharp increase in artificial intelligence revenues and a major design win from Apple. Salesforce also benefited from AI competitiveness and new product launches that boosted investor confidence. | View | |
| 2024 Q4 | Dec 31, 2024 | Minotaur Global Opportunities Fund | - | - | ACN, AMZN, BTI.AX, MDB, META, MSFT, NVDA | AI, China, emerging markets, global, semiconductors, technology, Valuations | Minotaur has developed proprietary AI system Taurient making 10,000-20,000 API calls daily to providers like OpenAI and Anthropic. They maintain exposure across the AI stack from chips to platforms to services. Recent breakthroughs like OpenAI's o3 and DeepSeek's efficiency gains reinforce their view that AI development will continue in parallel tracks of cutting-edge capabilities and architectural innovations. | View | |
| 2023 Q3 | Dec 26, 2023 | Bonsai Partners | 0.0% | -3.3% | ACN, CTSH, DAVA, EPAM, G, GLOB, NA9.DE, QCOM, TSM, TWKS, WIT | AI, IT Services, Robustness, semiconductors, technology, Value Investing | Manager emphasizes seeking robust businesses that spread risks across value chains or own key processes outright, avoiding fragile companies with single points of failure. Robust companies with pragmatic leadership are purpose-built to survive difficult terrain and act as hedges against unknowable risks. | View | |
| 2025 Q3 | Nov 8, 2025 | ClearBridge Investments All Cap Growth | - | - | AAPL, ACN, APP, AVGO, COST, CRM, GOOGL, HUBS, LLY, MSFT, NOW, NTRA, NVO, ORCL, PLTR, TEL, TSM, UNH, VST, WDAY | AI, Cloud, Data centers, growth, healthcare, semiconductors, software, technology | The growth market has seen wide divergence between AI winners and AI losers since Liberation Day, with AI winners consisting primarily of cloud providers, chip makers and infrastructure software companies rallying strongly while capital flows out of perceived AI laggards in application software and services. The Strategy was active in upgrading exposure to perceived AI winners while scaling back weighting in AI losers. | View | |
| 2025 Q3 | Nov 5, 2025 | Generation Investment Management Global Equity | - | - | A, ACN, AMZN, CRM, DHR, GOOGL, IDXX, KRX.L, MSFT, NVDA, SHL.DE, SIK.SW, SU.PA, VEEV, WDAY | AI, Concentration, healthcare, long-term, momentum, Quality, underperformance | The market is currently excited about AI, driving hypergrowth companies and creating momentum strategies. Generation believes AI will reallocate enterprise IT spending toward reliable vendors and create new deployment units requiring governance. They see AI as potentially strengthening rather than weakening enterprise software companies. | View | |
| 2025 Q3 | Nov 4, 2025 | Aristotle International Equity Fund | 1.1% | 15.9% | 005930.KS, 3064.T, 7532.T, ACN, ALC, BAP, BN, CCJ, D05.SI, EBS.VI, HLN.L, MUV2.DE, NEM.DE, SAF.PA, SONY, WMMVY | AI, Banking, E-Commerce, international, semiconductors, technology, Trade Policy | Global trade developments dominated the quarter with the EU-US agreement eliminating tariffs on industrial goods and expanding agricultural access, while the US imposed 15% tariffs on EU imports. Mixed developments in Asia included potential renegotiation of Japan's trade agreement and deteriorating US-India relations with additional 25% tariffs on Indian imports over Russian oil purchases. | WMMVY 9830 JP BAP 005930 KS WMMVY 9830 JP BAP 005930 KS |
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| 2025 Q3 | Nov 30, 2025 | Rothschild & Co LongRun Equity Fund | 3.9% | -4.0% | AAPL, ACN, AMZN, ASML, AVGO, CDNS, DHR, GOOGL, IDXX, INTC, META, MSFT, NVDA, SNPS, TMO, TSLA | AI, Cloud, Compounding, long-term, Quality, semiconductors, technology | AI has sparked a global race to develop specialized, high-performance chips. Cloud providers like Google, Amazon, Meta and Microsoft, along with many startups, are now designing their own AI chips. Each new design requires advanced tools for modeling and verification, driving demand for chip design software. AI is a long-term trend spanning data centers to edge devices. | View | |
| 2025 Q3 | Nov 3, 2025 | Aoris International Fund | -2.6% | - | ACN, APH, CDW, CPRT, CTAS, EXPN.L, GWW, HLMA.L, IHG, JKHY, NKE, OR.PA, RELX, SAP, SPGI | AI, Cloud, international, portfolio, Quality, technology, valuation | AI presents significant opportunities for portfolio companies like RELX, Accenture, and SAP. RELX leverages proprietary data to create AI-powered tools for legal and professional markets, with rapid customer adoption driving revenue acceleration. Accenture helps clients implement AI solutions and generated $2.7 billion in generative AI revenue. SAP's AI tools are seeing strong customer interest as part of cloud transitions. | SAP REL ACN IHG SAP REL ACN |
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| 2025 Q3 | Nov 23, 2025 | Lux Capital | - | - | 000660.KS, 005930.KS, ACN, AMZN, BA, CAP.PA, GOOGL, INTC, IT, LMT, META, MSFT, MU, NOC, NVDA, ORCL, RTX, TSLA | AI, Automation, Biotechnology, defense, geopolitics, Physical Sciences, semiconductors, Venture Capital | AI hyperscalers are spending over $400 billion in capex pursuing compute supremacy. The AI boom is profoundly physical requiring gigawatts of power, thousands of tons of copper wiring, and teraliters of cooling water. AI is transitioning from communication AI to physical AI including robotics, biology, defense, and manufacturing applications. | View | |
| 2025 Q3 | Nov 16, 2025 | Matrix Dividend Income | - | - | ACN, AMAT, BA, BK, CSCO, FI, GD, LHX, LMT, NESN.SW, NSC, SBUX, STZ, TEL, TGT, TSN, UNP | defense, dividends, financials, healthcare, technology, value | Technology and Communications sectors led the market rally in Q3, accounting for close to 70% of the S&P 500's performance. Many companies within these sectors benefit from investor enthusiasm for artificial intelligence including the Magnificent 7. The manager expects corporations to continue finding new ways to run their businesses more efficiently as they incorporate AI. | LMT STZ ACN |
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| 2025 Q3 | Nov 16, 2025 | Matrix Large Cap Value Strategy | - | - | ACN, AMAT, BA, BK, CSCO, FI, GD, LHX, LMT, NESN.SW, NSC, SBUX, STZ, TEL, TGT, TSN, UNP | AI, defense, dividends, financials, large cap, rates, technology, value | Technology and Communications sectors led the market rally, accounting for 70% of S&P 500 performance in Q3, driven by investor enthusiasm for artificial intelligence including the Magnificent 7. Companies are expected to continue incorporating AI to run businesses more efficiently and drive earnings growth. | View | |
| 2023 Q3 | Nov 10, 2023 | Aoris International Fund | 3.1% | 0.0% | ACN, APH, CDW, COST, CPRT, CTAS, EXPN.L, FAST, GGG, HLMA.L, MC.PA, MSFT, OR.PA, RELX.L, TSCO | concentrated, global, Quality, value | View | ||
| 2025 Q3 | Oct 9, 2025 | Polen Capital – Focus Growth | 3.1% | 5.5% | AAPL, ACN, ADBE, AMZN, AVGO, BSX, CSGP, GOOGL, IT, META, MSFT, NFLX, NOW, NVDA, ORCL, SBUX, SHOP.TO, TMO, TSLA, V | AI, Cloud, growth, healthcare, large cap, Quality, semiconductors, technology | Generative AI was the dominant theme driving Q3 performance, with semiconductors as the primary driver. The hyperscalers are announcing massive increases to AI-related spending, confirming capex spigots are wide open as they struggle to keep up with voracious demand. Oracle's quarterly results showed remaining performance obligations increasing 359% to $455 billion in one quarter, highlighting extraordinary demand for cloud computing and AI infrastructure. | UBER SNPS BSX INTU AVGO NVDA |
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| 2025 Q3 | Oct 28, 2025 | Weitz Large Cap Equity Fund | -0.5% | -0.9% | ACN, AMZN, CHTR, CRM, CSU.TO, GOOGL, IDXX, IT, KMX, MA, MELI, META, MSFT, ORCL, TMO, V, VMC | AI, healthcare, large cap, software, technology, value | Capital spending on AI infrastructure continued at a blistering pace, with investors ruthlessly sorting stocks into perceived AI winners and losers. The AI revolution is in early days with rapid and fluid developments, creating dramatic stock price changes in both directions. | MELI MELI |
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| 2025 Q3 | Oct 28, 2025 | Weitz Multi Cap Equity Fund | 0.3% | 4.6% | ACIW, ACN, AVGO, CDW, CHTR, CSGP, GCI, GOOGL, IT, KMX, LBRDA, LKQ, MA, META, MLM, NVDA, PRM, V, VMC | AI, Multi Cap, Quality, technology, value | AI infrastructure buildout is in early days with chip makers like Nvidia and Broadcom seeing biggest gains so far. Hyperscalers including Alphabet and Meta hold the purse strings on unprecedented AI infrastructure investment, giving them advantage to modulate spending based on returns while being funded by healthy cash flows from core businesses. | CDW ACN CDW ACN |
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| 2025 Q3 | Oct 28, 2025 | Columbia Global Technology Growth Fund | 12.1% | - | AAPL, ACN, ALAB, AMZN, ASML, AVGO, CRM, GOOGL, HOOD, INTU, LRCX, META, MSFT, NFLX, NOW, NVDA, TSM, TTD | AI, Cloud, global, growth, innovation, semiconductors, technology | AI remained the most significant driver of technology market performance during the quarter. The fund benefited from AI infrastructure investments, with companies like NVIDIA reporting extraordinary demand for data-center products and Broadcom seeing AI semiconductor chips become a majority of revenue. The transformative potential of AI continues to drive investor enthusiasm across all sectors of the economy. | NOW CRM ACN TTD AVGO NVDA HOOD ALAB AVGO US NVDA US ALAB US AVGO US NVDA US ALAB US |
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| 2025 Q3 | Oct 24, 2025 | The Bristol Gate U.S. Equity Strategy | -0.6% | 4.6% | ACN, APH, AVGO, CARR, GE, INTU, MMC, NVDA, ORCL, TMO, UNH | AI, defensives, dividends, fundamentals, healthcare, Quality, technology, value | AI continues to drive market concentration with 41 companies providing 75% of S&P 500 returns since ChatGPT launch. Broadcom benefits from hyperscaler demand for custom AI accelerators with fourth major customer placing $10B+ orders. Management expects 2026 AI revenue growth to exceed fiscal 2025's 50-60% rate. | UNH MMC APH INTU ACN CARR GE TMO AVGO CARR GE TMO AVGO |
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| 2024 Q3 | Oct 23, 2024 | Aoris International Fund | 3.1% | 0.0% | ACN, APH, CPG.L, CPRT, CTAS, DPLM.L, FAST, MSCI, MSFT | Distribution, healthcare, international, Labor, Quality, technology, Utilities | Aoris focuses on high-quality, wealth-creating businesses with durable competitive advantages, conservative balance sheets, and strong customer value propositions. The manager emphasizes companies that continuously invest to enhance customer offerings and operate in industries with limited regulatory impact. | DPLM.L FAST |
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| 2024 Q3 | Oct 23, 2024 | Polen Capital – Focus Growth | 3.0% | 11.0% | AAPL, ABNB, ACN, ADBE, AMZN, CRM, GOOGL, MSCI, MSFT, NKE, NOW, NVDA, ORCL, PAYC, SHOP, TMO, TSLA, UNH, WDAY | AI, Cloud, growth, large cap, software, technology | AI is driving infrastructure spending from cloud providers and enterprises, with GenAI offerings becoming incremental growth drivers for software companies. Apple's iOS upgrade will bring GenAI advancements to the masses, potentially triggering a multi-year iPhone upgrade cycle. The fund believes AI is more likely to be a tailwind than headwind for competitively advantaged software businesses. | ABNB SHOP.TO ORCL AAPL |
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| 2025 Q3 | Oct 20, 2025 | The Davenport Core Leaders Fund | 3.2% | - | AAPL, ACN, AMZN, AVGO, EA, ELV, GOOGL, ISRG, META, MSFT, NOW, NVDA, NVO, ORCL, SPOT, TEL, UNH, UPS, WMT, XOM | AI, earnings, Fed policy, momentum, small caps, technology, Valuations | Artificial intelligence is driving enormous spending from tech titans and creating a powerful technology theme. AI has joined forces with monetary stimulus to embolden risk taking, with AI-linked stocks posting explosive moves higher since April. The technology is incredibly promising, though many perceived beneficiaries are prioritizing growth over profit. | NVO NVDA |
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| 2025 Q3 | Oct 20, 2025 | The Davenport Value & Income Fund | 5.2% | - | AAPL, ACN, AMZN, AVGO, EA, ELV, GOOGL, ISRG, META, MSFT, NOW, NVDA, NVO, ORCL, ROK, SPOT, TEL, UNH, UPS, XOM | AI, dividends, large cap, momentum, technology, Valuations, value | Artificial intelligence is driving enormous spending from tech titans and prompting explosive moves in AI-linked stocks. The technology theme has joined forces with monetary stimulus to embolden risk taking. While AI is incredibly promising, many perceived beneficiaries are prioritizing growth over profit and investors may question ultimate returns on AI spending. | 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 16, 2025 | Polen Capital – Global SMID Company Growth | 7.9% | 1.9% | AAPL, ACN, ADP, ADYEN.AS, AON, AVGO, GOOGL, IDXX, MA, MSFT, NVDA, ORCL, SBUX, SGE.L, SHL.DE, SHOP.TO, TMO, V, WDAY, ZTS | AI, Cloud, cyclicals, Global Growth, Quality, semiconductors, technology | AI re-emerged as the dominant narrative driving much of the market's leadership in the second quarter. Oracle was positioned as a go-to cloud infrastructure provider for training generative AI models, experiencing significant revenue growth acceleration. The AI leadership extended to AI-adjacent infrastructure segments like utilities, select software businesses, and pockets within industrials. | GLOB IDXX SBUX ORCL |
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| 2025 Q3 | Oct 16, 2025 | Distillate Capital Fundamental Stability & Value | - | 6.5% | AAPL, ABBV, ACN, ADBE, ADP, ALGN, CMCSA, COST, CRM, EPAM, FIX, IT, JNJ, LRCX, MSFT, UNH, UNP, VST, VTRS, WMT | Benchmarks, Concentration, large cap, Quality, technology, valuation, value | Manager emphasizes systematic value investing approach focused on free cash flow valuation rather than book value. Strategy trades at 6.1% FCF yield versus 3.9% for Russell 1000 Value and 3.1% for S&P 500. Systematic quarterly rebalancing allows proceeds from expensive stocks to flow into cheaper names with higher underlying cash flows. | View | |
| 2025 Q3 | Oct 16, 2025 | Distillate Capital International | - | 33.3% | AAPL, ABBV, ACN, ADBE, ADP, ALGN, CMCSA, COST, CRM, EPAM, FIX, IT, JNJ, LRCX, MSFT, UNH, UNP, VST, VTRS, WMT | AI, Benchmarks, Concentration, Quality, valuation, value | The manager emphasizes that while the Russell 1000 Value benchmark is intended to offer a counter to valuation risk, it suffers from being demarcated on book value which inadequately measures valuation in today's economy. Their U.S. FSV strategy offers substantially better valuation at 6.1% free cash flow yield versus 3.9% for Russell 1000 Value and 3.1% for S&P 500. | CMCL LN |
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| 2025 Q3 | Oct 16, 2025 | Distillate Capital Small/Mid Cap Quality & Value | - | 3.4% | AAPL, ABBV, ACN, ADBE, ADP, ALGN, CMCSA, COST, CRM, EPAM, FIX, IT, JNJ, LRCX, MSFT, UNH, UNP, VST, VTRS, WMT | AI Bubble, Benchmarks, Concentration, free cash flow, Quality, small caps, valuation, value | The manager emphasizes systematic value investing through free cash flow analysis, highlighting that their U.S. FSV strategy trades at a 6.1% free cash flow yield versus 3.9% for Russell 1000 Value and 3.1% for the S&P 500. They focus on finding quality companies trading at attractive valuations while avoiding the valuation and concentration risks in major benchmarks. | View | |
| 2025 Q3 | Oct 16, 2025 | Distillate Capital Large Cap Value | - | 9.0% | AAPL, ABBV, ACN, ADBE, ADP, ALGN, CMCSA, COST, CRM, EPAM, FIX, IT, JNJ, LRCX, MSFT, UNH, UNP, VST, VTRS, WMT | AI, Benchmarks, Concentration, free cash flow, Quality, valuation, value | The manager emphasizes systematic value investing through free cash flow analysis, highlighting their strategy's superior valuation metrics compared to benchmarks. They focus on finding quality companies trading at attractive levels while avoiding the valuation risks present in current market leadership. | IT US ACN US ADBE US CRM US |
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| 2025 Q3 | Oct 14, 2025 | Madison Investors Fund | -2.2% | -0.1% | A, ABNB, ACGL, ACN, ADI, ALC, AMZN, BN, CDW, CHTR, CPRT, DE, DHR, ELV, FERG, FI, GOOGL, IT, KEYS, LBRDA, LOW, MMC, MSCI, NKE, PCAR, PGR, PH, SBUX, SCHW, TJX, TXN, V | financials, industrials, large cap, Quality, technology, value | The fund focuses on high-quality, durable businesses across a wide range of industries, selling for reasonable or cheap prices. This approach has historically delivered solid long-term performance, though these attributes have been unpopular recently as the market has favored short-term over long-term and momentum over durability. | View | |
| 2025 Q3 | Oct 14, 2025 | Harding Loevner Global Equity | 2.5% | 10.6% | 0700.HK, 1299.HK, 2308.TW, 300760.SZ, 4519.T, 6146.T, 6758.T, 6861.T, ABBV, ACN, ADBE, ALC, ALFA.ST, AME, AMZN, APH, ASML, ATCO-A.ST, ATD.TO, ATKR, AVGO, BKNG, CME, CPG.L, CSGP, D05.SI, DE, DHR, DPLM.L, ELV, EPI-A.ST, GLOB, GMAB, GOOGL, HDB, HEI, HLN.L, HON, JNJ, META, MSFT, NFLX, NOC, NOW, NVDA, PGR, ROG.SW, SAP, SGSN.SW, SHEL, SLB, SNPS, SU.PA, TMO, TSM, TTD, TW, V, VRTX, WMMVY | AI, diversification, global, healthcare, momentum, technology, valuation | AI represents a real secular change reshaping industries but creates broad uncertainty in markets. The impact could be incremental or profoundly disruptive, making historical fundamentals less reliable. Markets reward companies perceived as central to AI buildout while penalizing those that don't fit the narrative. | TCEHY US GOOGL US TMO US ELV US VRTX US ACN US |
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| 2025 Q3 | Oct 1, 2025 | Infuse Partners | 33.2% | - | AAPL, ABBV, ACN, ADBE, ADP, ALGN, CMCSA, COST, CRM, EPAM, FIX, IT, JNJ, LRCX, MSFT, UNH, UNP, VST, VTRS, WMT | AI, Benchmarks, Concentration, free cash flow, international, Quality, small caps, value | The manager emphasizes systematic value investing through free cash flow analysis, highlighting that their U.S. FSV strategy trades at a 6.1% FCF yield versus 3.9% for Russell 1000 Value and 3.1% for S&P 500. They focus on finding quality companies trading at attractive valuations while avoiding the valuation and concentration risks in major benchmarks. | TMDX US |
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| 2025 Q3 | Oct 1, 2025 | ClearBridge Investments Large Cap Growth Strategy | - | - | AAPL, ACN, AIR.PA, AVGO, CMG, COST, CRM, DDOG, FICO, GOOGL, INTU, ISRG, LLY, MA, MSFT, NFLX, NSC, NVO, ORCL, PH, PLTR, RTX, SBUX, TSM, UNH, UNP, VRTX, WDAY, ZTS | AI, Cloud, cyclicals, growth, healthcare, large cap, technology | The growth market has seen wide divergence between AI winners and AI losers since Liberation Day, with AI winners including cloud providers, chip makers and infrastructure software companies rallying strongly while capital flows out of perceived AI laggards in application software and services. The managers are adding new AI-indexed growth ideas in a disciplined way rather than chasing momentum. | VRTX US DDOG US ORCL US |
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| 2025 Q4 | Jan 7, 2026 | ClearBridge Investments Large Cap Growth Strategy | 1.2% | 0.0% | ACN, ADBE, ANET, AVGO, CMG, DDOG, EQIX, ETN, GOOGL, ISRG, LLY, MRVL, NVDA, ORCL, PLTR, SBUX, TMO, UNH, VRTX, WDAY | AI, growth, healthcare, large cap, momentum, semiconductors, technology, underperformance | AI spending exceeded expectations with hyperscalers accelerating capex, emergence of OpenAI and Anthropic as major spending sources, and Alphabet selling custom AI chips to competitors. The managers acknowledge underestimating AI spending magnitude and are repositioning with purchases of Broadcom, Marvell Technology, Datadog and Oracle while exiting lower-conviction AI plays. Cloud infrastructure remains central to AI deployment with data center operators like Equinix positioned as later-stage beneficiaries. Oracle's cloud business represents significant upside potential despite current market skepticism, with the company having a large backlog of signed contracts and generating free cash flow. Semiconductor exposure through Nvidia has been a top holding since 2018, with additional positioning in Broadcom for custom silicon chips and Marvell Technology. The managers regret not scaling positions more aggressively in semiconductor beneficiaries during the AI-driven rally. Healthcare positioning was repositioned with purchases of high-quality biotechnology company Vertex Pharmaceuticals, which was a leading contributor in Q4. The managers exited Eli Lilly too early before GLP-1 reimbursement deals and oral treatment readouts drove shares higher. | View | |
| 2024 Q4 | Jan 7, 2025 | ClearBridge Investments Large Cap Growth Strategy | 0.0% | 0.0% | ABNB, ACN, AMZN, ASML, AVGO, GOOGL, ISRG, LLY, META, NEE, NFLX, NVDA, NVO, TMO, TSLA, UBER, UNH, V, ZTS | growth, healthcare, large cap, Magnificent Seven, technology, Valuations | AI is clearly a megatrend that the managers are monitoring closely to gauge the next phase of use cases and impact both to technology-oriented businesses and to those in more traditional industries. Portfolio holding Intuitive Surgical is making significant strides in providing feedback to surgeons using its robotic instruments. | ABNB NVO ICLR |
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| 2025 Q4 | Jan 30, 2026 | Sequoia Fund | 0.4% | 22.1% | ACN, AHT.L, ALGN, COF, CSU.TO, ELV, ERF.PA, GOOGL, ICE, JEC, META, MSA, RR.L, SCHW, TSM, UMG.AS, UNH | AI, Concentration, defense, healthcare, long-term, Quality, technology, value | Alphabet released Gemini 3 model that soared to top of AI leaderboards, demonstrating the company's full-stack AI capabilities. Google is successfully integrating AI into Search with AI Overviews and AI Mode, showing increased user satisfaction. Accenture faces questions about whether generative AI might upend the IT services industry, though the company's moats remain intact. UnitedHealth and Elevance faced multi-year fundamental pain from rising healthcare utilization and volatile medical costs. The managed care industry is under-earning across most business lines due to repricing challenges and regulatory constraints. Policy risk has increased with renewed scrutiny of industry business practices including prior authorizations and pharmacy benefit management. Rolls-Royce's Defense segment is benefiting from the new threat environment in Europe and resulting surge in defense spending. The company is the sole producer of nuclear power plants for new Dreadnought-class submarines and is developing systems for the Global Combat Air Programme next-generation stealth fighter. Universal Music Group's paid streaming revenue grew at high-single-digit rates driven entirely by subscriber growth. The company signed new agreements with streaming platforms that include wholesale price step-ups, providing incentive for retail price increases. UMG continues acquiring catalogs in developing markets to secure future growth drivers. MSA Safety benefits from growing focus on safety as regulation and employer behavior trend toward higher standards. The company is transitioning to technology-enabled safety equipment with connected portable gas detectors moving to subscription models. MSA is developing connected SCBA solutions for firefighters that should drive significant revenue growth over 5-10 years. | ELV UNH GOOG RR LN ALGN ACN MSA |
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| 2025 Q4 | Jan 30, 2026 | Matrix Dividend Income | 0.0% | 0.0% | ACN, LMT, META, TXN | AI, consumer, dividends, Fed, financials, rates, technology, value | Artificial Intelligence was the most important investment theme in 2025 and is expected to be a powerful force in the real economy for years to come. AI is a tool with the potential to significantly increase economic productivity, but comes with high costs for employees being laid off and entry level workers finding it difficult to land jobs as their skills are automated. The Dividend Income portfolio's companies increased dividends by an average of 5.8% in 2025, with holdings having raised dividends for an average of 17.5 years. Lower short-term money market rates following Fed cuts should renew market interest in dividend paying stocks, providing an additional tailwind for the portfolio. After more than a decade of Growth stocks vastly outperforming Value, Matrix expects Value will be in a period of favorable relative and absolute returns. They expect rotation from Large Cap Growth stocks with highest market valuations to stocks and sectors with more reasonable valuations that can show consistent earnings. The Federal Reserve cut interest rates three times in 2025 and is expected to cut at least twice more in 2026. Matrix remains cautious on intermediate and long-term bonds due to questions about Fed independence and potential for renewed inflationary pressure, focusing on shorter-term maturities. | FISV TXN |
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| 2025 Q4 | Jan 30, 2026 | Matrix Large Cap Value Strategy | 0.0% | 0.0% | ACN, FI, GNRC, LMT, META, TXN | AI, dividends, Fed, financials, rates, technology, value | Artificial Intelligence was the most important investment theme in 2025 and is expected to be a powerful force in the real economy for years to come. AI is a tool with the potential to significantly increase economic productivity, but comes with high costs for employees being laid off and entry level workers finding it difficult to land jobs as their skills are automated. After more than a decade of Growth stocks vastly outperforming Value, Matrix expects Value will be in a period of favorable relative and absolute returns. They expect a rotation from Large Cap Growth stocks with the highest market valuations to stocks and sectors with more reasonable valuations that can show consistent earnings. Matrix expects high quality Value and Dividend stocks to perform well in an environment where investors are seeking to replace income lost due to declining short-term interest rates. Lower short term money market rates following additional Fed Fund cuts should renew the market's interest in dividend paying stocks. | View | |
| 2025 Q4 | Jan 29, 2026 | Pzena International Value ADR Strategy | 6.3% | 35.3% | 0027.HK, 2587.T, 6301.T, 6326.T, 6367.T, 6981.T, ABEV, ACN, BABA, BAYRY, CABK.MC, ML.PA, MT, NOK, PUB.PA, VALE | AI, cyclicals, financials, international, materials, value | International value equities benefited from easing trade tensions, improved investor risk appetite, and strong performance across European cyclical sectors. Financials, materials, and selected industrials drove returns as valuation gaps narrowed and earnings expectations improved. The manager continues to exploit market volatility and exaggerated disruption fears, particularly around artificial intelligence, to accumulate high quality international franchises at attractive prices. | VALE ACN 6326 JP |
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| 2025 Q4 | Jan 29, 2026 | Weitz Multi Cap Equity Fund | -1.5% | 3.2% | ACN, BRK-B, CDW, CHTR, CMCSA, CSGP, DHR, GOOGL, HEI, IDXX, IEX, IT, KMX, LBRDA, LH, LKQ, META, PRM, SIRI, TECH | healthcare, multi-cap, technology, Telecom, underperformance, value | Google's Gemini AI surpassed expectations with latest release, moving to front of pack among frontier models according to industry benchmarks. Investors questioning value of Gartner's research offerings in rapidly evolving GenAI landscape. Heightened competition continues weighing on broadband investments including Liberty Broadband and Charter Communications. Charter's capital investment cycle beginning to ease, expected to improve free cash flow and support share repurchases at depressed prices. CarMax faces challenging environment with constrained availability and affordability of late model used vehicles. Online competitor Carvana taking share while CarMax's omni-channel investments have yet to deliver improvements, leading to strategic changes and CEO departure. | CHTR KMX PRM |
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| 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 |
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| 2025 Q4 | Jan 23, 2026 | Aoris International Fund | 0.0% | 0.0% | ACN, AMZN, APH, ATCO-A.ST, CPRT, FAST, GWW, HLMA.L, IHG.L, JKHY, MSCI, OR.PA, RELX.L, SAP.DE | AI, international, long-term, Quality, technology, value | AI drove exceptional growth for data center-focused holdings like Amphenol and Halma, while creating market perception challenges for service companies like Accenture and RELX. The manager believes AI will ultimately benefit rather than harm these service businesses, as enterprise AI adoption requires complex change management and enhances rather than replaces proprietary data solutions. The manager emphasizes owning durable, resilient, market-leading businesses with competitive advantages and capable management. The portfolio focuses on companies with consistent earnings growth records, strong market positions, and the ability to gain market share over time through superior execution. The manager describes an unusually wide valuation gap between intrinsic value and share prices, with portfolio holdings trading at an average 25% discount to fair value. This stretched elastic band effect creates attractive prospective returns as valuations normalize over time. | 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 |
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| 2025 Q4 | Jan 20, 2026 | The Bristol Gate U.S. Equity Strategy | 0.0% | 0.0% | ACN, AMAT, AVGO, CARR, CTAS, GE, IBKR, LLY, MSFT, ODFL, TMO, UNH, ZTS | AI, dividends, healthcare, Quality, semiconductors, technology, value | Bristol Gate focuses on companies with robust free cash flows and disciplined capital allocation that deliver superior risk-adjusted returns through sustainable dividend policies. Portfolio companies grew dividends by 14.3% over the last twelve months compared to 5.6% for the S&P 500. The firm believes dividend growth rates are powerful predictors of total return and fastest dividend growers often outperform the broader dividend universe. Since ChatGPT's launch in late 2022, the market has experienced a seismic shift with investor capital concentrating heavily in AI leaders, creating narrow market breadth. Bristol Gate devotes significant resources to data science and machine learning in their investment approach, believing in AI's transformative power. However, their focus remains on identifying high dividend growth companies rather than over-concentrating in AI themes. Eli Lilly continues to benefit from the strength of its incretin portfolio, commanding 58% of the US incretin market and exiting Q3 with 71% of new prescriptions. The company raised annual guidance for the third time in 2025, with strength expected to continue into 2026 when its oral GLP-1 drug orforglipron hits the market in Spring. The oral alternative is expected to significantly expand the market globally due to ease of use, simpler supply chain, and lower cost. Applied Materials rose despite mixed results due to AI-driven demand optimism, specifically around advanced logic and high bandwidth memory chips. Management issued cautiously optimistic Q1 2026 outlook and forecast significant uplift in second half of calendar 2026 as spending shifts back toward AMAT's strengths. Analog semiconductor companies have been reporting improving results, signaling a shift in real-world manufacturing and consumer spending. | IBKR ZTS TMO AMAT LLY |
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| 2025 Q4 | Jan 20, 2026 | Harding Loevner Global Equity | 1.9% | 12.7% | 0700.HK, 1299.HK, 2308.TW, 300124.SZ, 300760.SZ, 4519.T, 6758.T, 6861.T, ABBV, ACN, ADBE, ALFA.ST, AME, AMZN, APH, ASML, ATCO-A.ST, ATD.TO, ATKR, AVGO, BKNG, CME, COMP.L, CSGP, D05.SI, DE, DHR, DPLM.L, EFX, ELV, EPI-A.ST, FN, GMAB, GOOGL, HDFCBANK.NS, HEI, HLN.L, HON, JNJ, META, MSFT, NFLX, NOC, NVDA, PGR, ROG.SW, SAP, SGSN.SW, SHEL, SLB, SU.PA, TMO, TSM, TTD, TW, V, VRTX, WMMVY | AI, global, international, semiconductors, technology, value | AI represents a capital-expenditure regime with two distinct camps: hyperscalers investing in computing capacity and physical enablers of the buildout. The US market is more dependent on AI continuing to surprise to the upside due to richer valuations and concentrated exposure. Global semiconductor ecosystem enables AI buildout, spanning chip foundries, memory-chip makers, and equipment manufacturers. International markets are more heavily tilted toward this manufacturing and infrastructure provider segment. International markets trade at roughly half the multiples of US stocks, offering more attractive valuations. Non-US markets start from cheaper valuations and possess more diverse growth opportunities unrelated to AI. | GOOG |
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| 2025 Q4 | Jan 18, 2026 | The 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 |
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| 2025 Q4 | Jan 18, 2026 | The Davenport Value & Income Fund | 1.5% | 13.7% | ACN, ADBE, ARE, C, CTAS, EOG, FDX, GOOG, HPQ, ISRG, META, MMC, MRVL, MSFT, NOW, NVDA, ORCL, SPOT, UBER, UNP, VRTX | AI, Buybacks, dividends, large cap, technology, value | Technology and AI-related stocks led the charge again in 2025, with tech and communications services sectors advancing 23.83% and 32.47% respectively. AI darling Nvidia was up 38.87% after a 171.17% gain the prior year. A gold rush mindset developed across the AI ecosystem with fervor spreading to speculative corners of the market. In 2025, 36 of the Value & Income Fund's 42 holdings increased their dividends by an average of 7% year-over-year. Companies like McDonald's, Exxon Mobil, Fidelity National Financial, and Becton-Dickinson continued their annual streak of dividend enhancements at 49, 43, 10, and 54 years respectively. In 2025, 30 of the Value & Income Fund's holdings reduced their share count via buybacks by 1.2% on average. Companies are taking advantage of discounted valuations to accelerate buyback pace and return capital to shareholders. The managers focus on stocks that have been cast aside as investors focused elsewhere on momentum plays. They believe the market's sun could shine elsewhere soon and can't stomach the risk associated with many of today's highflyers. Their conservative approach has weighed on relative performance but they've seen this dynamic before. | View | |
| 2023 Q4 | Jan 14, 2024 | Generation Investment Management Global Equity | - | - | A, ACN, ADDYY, ADI, AMAT, AMZN, BAX, CBRE, CSL, DHR, GEBN.SW, HSIC, JLL, KGP, MELI, MSFT, NZYM-B.CO, SE, SIKA.SW, TMO, TT, TXN, VEEV, VLTO, VWS.CO, WAT | AI, Climate, Global Equity, healthcare, real estate, sustainability, technology | The release of GPT-4 showed the world the perils and promise of generative artificial intelligence. Companies linked to the generative AI revolution have added to returns, including Amazon, Microsoft and Applied Materials which provides equipment for semiconductor chip manufacture. | ADI|BDX|FI|FND|HAS|META|MSFT|MSI|ORCL|TMO |
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| 2025 Q4 | Jan 11, 2026 | FMI All Cap Equity | - | - | ACN, CAT, HAYW, JPM, MSFT, NVDA, SMIN.L, UNP | AI, Bubble, Capex, Quality, small caps, technology, value | AI has driven massive market concentration with 42 AI-related stocks representing 45% of S&P 500 market cap and accounting for 78% of returns since ChatGPT launched. The top five hyperscalers are expected to spend over $500 billion on capex this year alone, with capex-to-revenue reaching 29% in aggregate by 2026. FMI questions whether the enormous capital spending will generate attractive returns and warns of potential bubble conditions similar to the 2000 tech crash. FMI emphasizes their focus on quality businesses with sustainable competitive advantages, strong balance sheets, and ROIC above cost of capital. Quality has underperformed low-quality sharply in 2025, particularly in small caps where money-losing companies have dominated. Despite recent headwinds, Quality Value's long-term relative outperformance is unmistakable and offers superior downside protection during market downturns. The firm maintains a value orientation, tracking Quality Value versus other gradients including cheap stocks and junky value. They believe buying advantaged businesses at discount valuations is a winning formula, though value has faced headwinds in the current junk rally environment where low-quality stocks have outperformed significantly. | View | |
| 2025 Q4 | Jan 11, 2026 | FMI International Equity | - | - | ACN, CAT, HAYW, JPM, MSFT, NVDA, SMIN.L, UNP | AI, Bubble, capital intensity, Quality, small caps, technology, value | AI has had a staggering impact on global stock markets, with 42 AI-related stocks representing 45% of S&P 500 market cap and accounting for 78% of returns since ChatGPT launched. However, FMI questions whether the enormous capital spending will generate attractive returns, citing OpenAI's unsustainable economics and hyperscalers' 29% capex-to-revenue ratios. FMI emphasizes their focus on quality businesses with sustainable competitive advantages, strong balance sheets, and ROIC above cost of capital. Quality has underperformed in the current junk rally, but historically provides superior downside protection and long-term outperformance through economic cycles. Quality Value (cheap stocks that rank high on quality metrics) has demonstrated long-term relative outperformance despite recent headwinds. FMI believes buying advantaged businesses at discount valuations creates margin of safety and superior risk-adjusted returns over time. | View | |
| 2025 Q4 | Jan 11, 2026 | FMI Large Cap Equity | 0.0% | 0.0% | ACN, CAT, HAYW, JPM, MSFT, NVDA, SMIN.L, UNP | AI, Bubble, capital intensity, Quality, small caps, technology, value | AI-related companies continued to dominate markets in 2025, with 42 AI stocks representing 45% of S&P 500 market cap and accounting for 78% of returns. The top five hyperscalers are expected to spend over $500 billion on capex this year, with capital intensity reaching 29% of revenue by 2026. FMI questions whether the enormous capital spending will generate attractive returns and warns of potential downside risks similar to the 2000 tech bubble. High-quality businesses have underperformed low-quality sharply in 2025, despite outperforming over the long run. FMI maintains their focus on quality businesses with sustainable competitive advantages, strong balance sheets, and ROIC above cost of capital. They believe quality value investing offers superior downside protection during market downturns and creates a powerful compounding effect over time. Small cap active managers have struggled to keep pace during the junk rally, with companies that lose money, have low ROE, or are high beta dominating since April 2025. The Russell 2000 gained 12.81% in 2025, but quality has been a meaningful laggard as investors extended out along the risk curve and were rewarded for taking on more speculative positions. | View | |
| 2025 Q4 | Jan 11, 2026 | FMI Small Cap Equity | 0.0% | 0.0% | ACN, CAT, HAYW, JPM, MSFT, NVDA, SMIN.L, UNP | AI, Bubble, capital intensity, Quality, small caps, technology, value | AI has driven massive market concentration with 42 AI-related stocks representing 45% of S&P 500 market cap and accounting for 78% of returns since ChatGPT launched. The capital intensity of hyperscalers is reaching 29% capex-to-revenue by 2026, raising questions about return generation. FMI sees long-term potential but questions whether enormous capital spending will generate attractive returns. Quality businesses have underperformed significantly in 2025 as investors favored low-quality junk rally stocks. FMI maintains focus on businesses with sustainable competitive advantages, strong balance sheets, and ROIC above cost of capital. Quality Value has demonstrated superior long-term performance despite recent headwinds. Small cap markets have been dominated by companies that lose money, have low ROE, or lack sales since April 2025. Active small cap managers have struggled to keep pace during this junk rally environment. FMI continues finding attractive opportunities despite challenging backdrop. | View | |
| 2024 Q3 | Sep 30, 2024 | ClearBridge Investments Large Cap Growth Strategy | 0.0% | 0.0% | AAPL, ACN, AMZN, APTV, CMG, EL, EQIX, GOOGL, META, MMC, MSFT, NEE, NVDA, PYPL, RTX, SBUX, SHW, TEAM, TSLA, UNH | AI, diversification, growth, healthcare, large cap, technology, valuation | The Strategy manages exposure to AI-driven growth stocks including NVIDIA, which has been trimmed due to valuation concerns despite belief in its 10-year trajectory as hyperscaler and enterprise customers invest in GPU architecture. The managers acknowledge AI momentum has driven market leadership but are selective about valuations. | APTV TEAM EL SBUX |
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| 2024 Q3 | Sep 30, 2024 | Madison Sustainable Equity Fund | 6.1% | 20.1% | A, AAPL, ACN, AMZN, COST, DHR, GOOGL, HD, JPM, LIN, LLY, MSFT, NEE, ORCL, PGR, TJX, TXN, UNH, USB, V | healthcare, large cap, Quality, sustainability, technology, value | Microsoft continues to point to supply constraints in Azure but remains bullish about AI opportunities with their expansive enterprise position. Oracle reported strong Cloud infrastructure demand acceleration and highlighted multi-year AI growth opportunities. Qualcomm is positioned for AI moving into mobile phones and entering the AI PC business, though ramping will take time. | View | |
| 2024 Q3 | Sep 30, 2024 | Madison Investors Fund | 7.8% | 17.0% | A, ACN, ADI, ALC, AMZN, BN, BRK.B, CPRT, DLTR, FERG, FI, GOOGL, KEYS, LOW, PCAR, PGR, PH, SCHW, TXN, V | consumer, financials, industrials, large cap, Quality, technology, value | Parker-Hannifin continues executing well despite slowing industrial economy, improving margins and integrating Meggitt acquisition. PACCAR facing weakening sales from declining freight rates and softening economic backdrop, though high-margin aftermarket parts division provides support through cyclical downturn. | KEYS |
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| 2024 Q3 | Sep 30, 2024 | Aristotle International Equity Fund | 10.5% | 13.3% | 005930.KS, 3064.T, 4578.T, 6758.T, 7532.T, 9433.T, ACN, AHT.L, BN, CCO, DEO, GSK, HEIA.AS, NEM.DE, ROG.SW, RTO.L, SAF.PA, TTE | Asia, Diversified, Europe, international, Quality, value | MonotaRO operates a B2B e-commerce platform selling 20 million items to over 8 million customers, primarily in Japan. The company serves as a one-stop solution with transparent pricing and same-day shipment capabilities. Its unique profile with over 95% of sales online provides customers a distinct value proposition in the fragmented MRO market. | 3064.T DGE.L 9681.T RTO.L BN.TO |
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| 2024 Q3 | Sep 30, 2024 | ClearBridge Investments All Cap Growth | 0.0% | 0.0% | AAPL, ACN, AMZN, APTV, AVGO, BLDR, CTAS, EL, GOOGL, GWW, META, MSFT, NVDA, PYPL, SHW, TEAM, TSLA, TSM, UNH, WOLF | AI, Cyclical, Defensive, growth, large cap, semiconductors, technology, value | AI-driven growth stocks led the market for most of 2023 and first half of 2024. The Strategy maintains significant position in Nvidia while being underweight semiconductors versus benchmark. AI has driven upside in data centers while PCs and handsets are at cycle lows. | View | |
| 2024 Q3 | Sep 30, 2024 | Diamond Hill Large Cap Strategy | 7.9% | 14.7% | ACN, AON, BLDR, CAT, COP, CVX, FANG, GOOGL, HCA, HON, HUM, NVR, PH, SBAC | energy, healthcare, industrials, large cap, rates, technology, value | The Federal Reserve cut US rates 50 basis points in September and signaled several more rate cuts are on the table. Several other major global central banks cut rates too, including the European Central Bank, Swiss National Bank and People's Bank of China. The apparent end of the higher interest-rate cycle helped spur markets higher in September. | BLDR ACN AON |
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| 2024 Q3 | Sep 30, 2024 | BlackRock Global Dividend Fund | 7.2% | 14.8% | AAPL, ACN, ALLE, AMAT, AZN, LVMUY, MDLZ, MSFT, NVDA, NVO, OTIS, PM, SHEL, TSM, TXN | dividends, global, healthcare, industrials, Quality, technology | The fund focuses on carefully selected quality companies with strong dividend growth potential. The portfolio managers aim to provide dividend growth and consistent returns with lower volatility over the long-term through global dividend-paying companies. | View | |
| 2024 Q2 | Jul 20, 2024 | Aoris International Fund | 3.1% | 0.0% | ACN, APH, CDW, CMPGY, CTAS, MC.PA, MSCI, MSFT, NVDA, OR.PA, V | Concentration, international, management, Quality, technology, value | NVIDIA dominated markets with share price rising 33% in the quarter and 255% year-to-date, driven by generative AI applications. The company became the third largest globally by market value, adding $4.3 trillion since early 2023. Market concentration has increased significantly due to AI-driven performance. | V MSCI |
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| 2024 Q2 | Jul 18, 2024 | ClearBridge Investments International Growth ADR Strategy | 5.7% | 0.0% | 1299.HK, 2348.HK, 4568.T, 7733.T, 8035.T, ABB, ACN, ALC, ATLKY, AZN, BBVA, BVI.PA, CP, LYG, MC.PA, MELI, NICE, NVO, RACE, SE, TSM, UCB.BR, UL | Asia, banks, Europe, growth, healthcare, international, technology | International IT stocks continued to diverge from their generative AI-driven U.S. counterparts, creating performance headwinds. TSMC benefited from renewed strength as the foundry of choice for Nvidia and other AI silicon developers. Accenture's AI projects are ramping up fast and will become increasingly meaningful as companies need to digitize operations and move to cloud. | View | |
| 2024 Q2 | Jul 18, 2024 | Harding Loevner Global Small Companies | 7.8% | 4.1% | AAPL, ACN, AMZN, ATKR, BECG.DE, BWA, ENS, FIVE, GOOGL, IBM, KWS.L, LLY, MSFT, OLLI, PFE, PLUS, RHHBY, RMV.L, XPEL, YOUGV.L | AI, barriers to entry, competition, global, Quality, small caps, technology | Global small caps underperformed large caps due to fewer AI-related stocks in the segment. The portfolio focuses on high-quality small companies with competitive advantages in growing, profitable niches that can withstand competition from larger, well-funded competitors. | 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 | Cooper Investors Global Equities Fund (Unhedged) | 5.5% | 5.4% | ACN, AER, BKNG, CDW, CRM, ERF.PA, FER.MC, FERG.L, GEHC, GOOGL, HDB, LPX, LSEG.L, REL.L, ROL, RTO.L, SONY, TSM, ULTA, YUMC | AI, global, growth, Quality, semiconductors, value | Portfolio has 10% exposure through TSMC and Alphabet, with TSMC positioned to extract more value from AI profit pools and Alphabet leveraging AI across search, YouTube, and cloud. Manager sees AI revolution making companies with unique datasets more valuable as it permanently improves business models, citing examples like RELX's LexisNexis Legal business and GE Healthcare's diagnostic imaging. | View | |
| 2024 Q2 | Jun 30, 2024 | Oakmark Fund- International Small Cap | 7.4% | 0.0% | ACN, BAC, CHTR, COP, CRBG, CSCO, FCNCA, GE, GM, GME, GOOGL, HD, HON, IBM | AI, Buybacks, growth, large cap, momentum, P/E Ratios, technology, value | Oakmark Fund has its lowest Morningstar value score ever at 73, much deeper in value territory than the Russell 1000 Value Index. The fund finds low P/E stocks at barely half the market multiple unusually attractive, with an average forward P/E of 11 times compared to 15 for Russell 1000 Value and 21 for the S&P 500. | GM GOOGL |
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| 2024 Q2 | Jun 30, 2024 | Columbia Global Technology Growth Fund | -0.9% | 0.0% | AAPL, ACN, AMD, AMZN, ASML, AVGO, CRM, GOOGL, INTC, LRCX, MA, MSFT, NVDA, SNPS, TSM | AI, global, growth, large cap, semiconductors, technology | AI remains the key market driver since OpenAI introduced ChatGPT in late 2022. Ground-breaking advances in AI reignited interest across technology and strengthened secular growth trends. The AI theme broadened out as investors pondered ramifications of the steadily evolving AI economy, with companies looking to become more productive from this transformative technology. | INTC CRM AMD AAPL AVGO NVDA |
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| 2023 Q2 | Jun 30, 2023 | Aoris International Fund | 3.1% | 0.0% | ACN, APH, CDW, COST, CPRT, CTAS, EXPN.L, FAST, GGG, HLMA.L, MC.PA, MSFT, OR.PA, RELX.L, TSCO | concentrated, global, Quality, value | View | ||
| 2023 Q2 | Jun 30, 2023 | ClearBridge Investments International Growth ADR Strategy | 5.7% | 0.0% | 0005.HK, 0388.HK, 0700.HK, 4568.T, 7733.T, 8035.T, ACN, ALC, AMS.MC, ASML, CP.TO, DTE.DE, ITX.MC, KER.PA, LSEG.L, NICE, REL.L, TEP.PA, TRI.TO, XRO.AX | AI, growth, healthcare, international, Japan, semiconductors, technology, value | The team is excited about generative AI potential both from current portfolio positioning and innovative companies being researched. They believe AI will be adopted widely across sectors with productivity improvements. Portfolio holding Accenture positioned to guide companies with AI implementation. | View | |
| 2023 Q1 | Apr 19, 2023 | Polen Capital – Global SMID Company Growth | 3.5% | 9.5% | ACN, ADP, ADYEY, AON, GOOGL, IDXX, MA, MSFT, ORCL, SBUX, SGE.L, SHL.DE, SHOP.TO, TMO, V, WDAY, ZTS | AI, global, growth, Oracle, Quality, semiconductors, technology | AI re-emerged as the dominant narrative driving much of the market's leadership in Q2. Oracle benefited significantly from its position as a go-to cloud infrastructure provider for training generative AI models, with the company appearing to be in early stages of significant revenue growth acceleration. | ACGL|APH|COO|CSGP|DKNG|GWRE|IDXX|IOT|IT|LPLA|MSCI|MTD|PCOR|ROP|TECH|VRSK SBUX ADI|BDX|FI|FND|HAS|META|MSFT|MSI|ORCL|TMO |
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| 2025 Q1 | Mar 31, 2025 | Madison Investors Fund | -0.9% | -0.9% | A, ACGL, ACN, ADI, ALC, AMZN, BN, BRK-B, DHR, ELV, FERG, FI, GOOGL, LOW, NKE, PACR, PGR, TXN, USB, V | concentrated, insurance, large cap, payments, Quality, tariffs, value | Three insurance companies topped the contributor list during the quarter's negative market returns. Industry fundamentals remain sound with defensive demand profiles and limited tariff exposure. Progressive continues benefiting from robust premium growth and strong underwriting margins. | View | |
| 2025 Q1 | Mar 31, 2025 | Harding Loevner Global Equity | -2.1% | -2.1% | 002230.SZ, 0700.HK, 1299.HK, 4519.T, 6758.T, 6861.T, ABBV, ACN, ADBE, ALC, ALFA.ST, AMAT, AME, AMZN, APH, ASML, ATCO-A.ST, ATD.TO, ATKR, AVGO, BBCA.JK, BKNG, CME, COMP.L, CRM, CSGP, D05.SI, DE, DHR, DPLM.L, EPI-A.ST, GLOB, GMAB, GOOGL, HDFCBANK.NS, HEI, HLN.L, HON, META, MSFT, NFLX, NOC, NOW, NVDA, ROG.SW, SAP, SGSN.SW, SHEL, SLB, SNPS, SU.PA, SY1.DE, TMO, TSM, TTD, TW, UNH, VRTX, WMMVY | AI, Geopolitical, global, Policy Uncertainty, Quality, semiconductors, technology, Trade Policy | The letter extensively discusses heightened US policy uncertainty, particularly around trade policy, with early salvos in the new trade war hitting China, then re-targeting Canada, Mexico, and US allies in Europe and Asia. The manager notes that tariffs and policies aimed at forcing US self-sufficiency create business uncertainty and undermine investment appetite. | View | |
| 2023 Q1 | Mar 31, 2023 | Aoris International Fund | 3.1% | 0.0% | ACN, COST, CTAS, EL, FAST, GGG, KER.PA, MC.PA, NKE, OR.PA, TSCO | concentrated, Conservative, growth, international, long-term, Quality, ROIC | Aoris focuses exclusively on high-quality businesses with strong competitive positions, high returns on invested capital, and conservative balance sheets. The fund owns only 15 companies maximum, applying unusually demanding quality criteria including strong profitability, low debt levels, and market leadership positions. | GGG MC.PA |
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| 2023 Q1 | Mar 31, 2023 | ClearBridge Investments All Cap Growth | 0.0% | 0.0% | AAP, AAPL, ACN, AMZN, ASML, CRM, CRWD, HUBS, INTC, JCI, LLY, LSXMK, META, MSFT, NVDA, PANW, SHW, TSLA, TXG, UNH | diversification, growth, healthcare, Quality, Recession, semiconductors, technology | Positive sentiment around generative AI highlighted opportunities for Nvidia among data center and hyperscale cloud providers reliant on GPUs to empower digital transformation and new AI applications. The secular drivers in certain parts of the semiconductor industry outweigh cyclical risks. | ACN ALLY HUBS AMZN CRM ADI|BDX|FI|FND|HAS|META|MSFT|MSI|ORCL|TMO AAPL|MSFT|NFLX|NVDA|UNH |
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| 2022 Q4 | Feb 24, 2023 | Aoris International Fund | 3.1% | 0.0% | ACN, CTAS, HLMA LN, NKE | - | View | ||
| 2024 Q4 | Jan 30, 2025 | Aristotle International Equity Fund | -7.1% | 5.1% | 005930.KS, 3064.T, 7532.T, ACN, AHT.L, BN, CCJ, D05.SI, DSNKY, EBS.VI, ML.PA, NEM.DE, SAF.PA, SONY, SY1.DE | gaming, geopolitics, international, long-term, nuclear, Quality, value | Demand for nuclear energy remained robust driven by AI and clean energy focus. Major tech companies like Amazon, Google and Meta announced nuclear-power agreements. Cameco is uniquely positioned to benefit as industries and governments pursue clean, reliable and scalable energy sources. | DSM.AS AHT.L 6758.T CCO.TO |
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| 2024 Q4 | Jan 24, 2025 | Tsai Capital | - | 23.0% | AAPL, ABNB, ACN, AMZN, ANSS, COST, CPRT, CSGP, DHR, FDS, GOOG, IDXX, MA, MKL, MSCI, MSFT, NKE, QXO, TSLA, TYL, V, ZTS | AI, Compounding, disruption, growth, long-term, technology, Tesla, value | The manager believes they are particularly well-positioned to benefit from the AI revolution, which represents the most transformative technological advancement since the advent of the internet. Many of the companies they own are leading the charge in the AI revolution, with others set to reap substantial benefits as they integrate these transformative technologies into their operations. Autonomy—embodied in self-driving vehicles and humanoid robots—will be one of the earliest large-scale applications of AI. | View | |
| 2024 Q4 | Jan 16, 2025 | Polen Capital – International Growth | - | - | ACN, AON, CSL.AX, EVO.ST, GLOB, ICLR, KER.PA, MC.PA, MELI, MNDY, NU, NVO, SAP.DE, SGE.L, SHOP.TO, SPOT, SU.PA, TEMN.SW, WTW | E-Commerce, financials, growth, healthcare, industrials, international, software, technology | Shopify continues to fire on all cylinders with accelerating GMV growth of 24% despite tough comparisons. The company benefits from powerful tailwinds including eCommerce, mobile commerce, social media, digital payments, and seamless omnichannel. MercadoLibre remains Latin America's largest ecommerce business with a long runway for growth. | WTW SPOT SU.PA MNDY NU SAP SGE.L SHOP.TO |
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| 2023 Q4 | Jan 13, 2024 | ClearBridge Investments International Growth ADR Strategy | 5.7% | 0.0% | 0700.HK, 4911.T, 6098.T, 6273.T, 7741.T, 8035.T, 9449.T, ACN, ADYEN.AS, ASML, CLNX.MC, CRH, III.L, NVO, RELX, RTO.L, SAP, SEDG, SHOP.TO, TRI | AI, Europe, growth, international, Japan, semiconductors | Recognition of generative artificial intelligence opportunities for companies outside the U.S. Semiconductor equipment makers ASML and Tokyo Electron are considered enablers of AI, while enterprise software maker SAP and IT consultant Accenture are seen as facilitators of AI adoption. RELX and Thomson Reuters own large proprietary data sets and stand to become key beneficiaries of the processing power of large language models that drive generative AI. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 29, 2026 | Fund Letters | Pzena Focused Value strategy | Accenture plc | Information Technology Services | IT Services | Bull | New York Stock Exchange | AI implementation, Cyclical Recovery, Digital transformation, Enterprise Services, It consulting, Process automation | View Pitch |
| Apr 27, 2026 | Fund Letters | ClearBridge Investments All Cap Growth | Accenture plc | Information Technology | IT Services | Bull | NYSE | Artificial Intelligence, cloud migration, Consulting, cybersecurity, Digital transformation, IT services, professional services | View Pitch |
| Apr 13, 2026 | Fund Letters | Aoris International Fund | Accenture plc | Information Technology | IT Consulting & Other Services | Bull | NYSE | AI implementation, Business Process, Digital transformation, diversification, government contracts, It consulting, Technology Services | View Pitch |
| Apr 13, 2026 | Fund Letters | Columbia Global Technology Growth Fund | Accenture plc | Information Technology | IT Services | Neutral | NYSE | AI services, Bookings Concerns, Digital transformation, It consulting, margin expansion, professional services | View Pitch |
| Apr 13, 2026 | Fund Letters | Andvari Associates | Accenture plc | Information Technology | IT Consulting & Other Services | Bull | NYSE | AI implementation, cloud migration, Data Security, Enterprise transformation, Government Pressure, It consulting, Large Contracts, Technology Services | View Pitch |
| Apr 13, 2026 | Fund Letters | Aristotle International Equity Fund | Accenture | Information Technology | IT Consulting & Other Services | Bull | New York Stock Exchange | Consulting, Digital transformation, enterprise solutions, generative AI, government contracts, IT services, technology implementation | View Pitch |
| Apr 13, 2026 | Fund Letters | Weitz Multi Cap Equity Fund | Accenture plc | Information Technology | IT Consulting & Other Services | Bull | NYSE | Artificial Intelligence, Digital transformation, Enterprise Services, It consulting, Managed services, professional services, Technology Consulting | View Pitch |
| Apr 13, 2026 | Fund Letters | The Bristol Gate U.S. Equity Strategy | Accenture plc | Information Technology | IT Services | Bull | NYSE | Client Relationships, Consulting, Digital transformation, Dividend Growth, global scale, IT services, market share gains, technology | View Pitch |
| Apr 13, 2026 | Fund Letters | Diamond Hill Large Cap Strategy | Accenture plc | Information Technology | IT Consulting & Other Services | Bull | NYSE | Consulting, Differentiated Services, Digital transformation, IT services, Stable Margins, technology | View Pitch |
| Feb 4, 2026 | Fund Letters | Arman Gokgol-Kline | Accenture plc | Information Technology | IT Consulting & Other Services | Bull | New York Stock Exchange | AI, Consulting, Digital transformation, resilience, scale | View Pitch |
| Jan 31, 2026 | Fund Letters | Rakesh Bordia | Accenture plc | Information Technology | IT Consulting & Other Services | Bull | New York Stock Exchange | AI, Consulting, Digital, growth, Margins | View Pitch |
| Jan 28, 2026 | Fund Letters | Jonathan T. Bloom | Accenture plc | Information Technology | IT Consulting & Other Services | Bull | New York Stock Exchange | AI, Consulting, Digitaltransformation, Partnerships, valuation | View Pitch |
| Jan 27, 2026 | Fund Letters | Stephen Arnold | Accenture plc | Information Technology | IT Consulting & Other Services | Bull | New York Stock Exchange | AI, enterprise, IT services, Outsourcing, transformation | View Pitch |
| Jan 24, 2026 | Fund Letters | Allen T. Bond | Accenture plc | Information Technology | IT Consulting & Other Services | Bear | New York Stock Exchange | Automation, cloud, Consulting, Cyber security, disruption, Outsourcing | View Pitch |
| Jan 8, 2026 | Fund Letters | Achilleas Taxildaris | Accenture plc | Information Technology | IT Consulting & Services | Bull | New York Stock Exchange | — | View Pitch |
| Dec 3, 2025 | Fund Letters | Rahul Narang | Accenture plc | Information Technology | IT Services | Bear | NYSE | AI, Bookings, Consulting, Digital transformation, services | View Pitch |
| Nov 29, 2025 | Fund Letters | Achilleas Taxildaris | Accenture plc | Information Technology | IT Services | Bull | NYSE | AI, Consulting, Digital, dividends, enterprise, FCF, growth, technology, transformation | View Pitch |
| Nov 29, 2025 | Fund Letters | David A.Katz | Accenture plc | Information Technology | IT Consulting & Other Services | Bull | NYSE | buybacks, Consulting, dividend, Free Cash Flow, technology | View Pitch |
| Nov 29, 2025 | Fund Letters | Stephen Arnold | Accenture plc | Information Technology | IT Consulting & Outsourcing | Bull | NYSE | AI, buybacks, Consulting, Digital transformation, EPS growth, Outsourcing, productivity, recurring revenue | View Pitch |
| Nov 29, 2025 | Fund Letters | Wally Weitz | Accenture plc | Information Technology | IT Consulting & Other Services | Bull | NYSE | AI services, Bookings, capital returns, Digital transformation, Free Cash Flow, Managed services, Utilization | View Pitch |
| Nov 28, 2025 | Fund Letters | Stephen Arnold | Accenture plc | Information Technology | IT Consulting & Outsourcing | Bull | NYSE | AI, buybacks, Consulting, Digital transformation, EPS growth, Outsourcing, productivity, recurring revenue | View Pitch |
| Nov 28, 2025 | Fund Letters | Wally Weitz | Accenture plc | Information Technology | IT Consulting & Other Services | Bull | NYSE | AI services, Bookings, capital returns, Digital transformation, Free Cash Flow, Managed services, Utilization | View Pitch |
| Sep 18, 2025 | Seeking Alpha | Seeking Alpha | Accenture plc | Information Technology Services | Bull | Accenture, acquisition strategy, earnings report, Free Cash Flow, GenAI, IT services, new bookings, Revenue Growth, U.S. government spending, valuation | View Pitch | ||
| Aug 7, 2025 | Seeking Alpha | Eliseo Bottini Antunez | Accenture | Information Technology | Information Technology Services | Bull | NYSE | — | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Redfox Capital Ideas | Accenture plc | Information Technology | Information Technology Services | Neutral | NYSE | — | View Pitch |
| 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. | ||||||||