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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Jun 30, 2024 | ACATIS Investment | - | 6.7% | 0268 HK, 2020 HK, 2330 TT, AMKR, APE AU, BLUE, BNTX, CRBU, CRSP, FMG AU, GNK GR, NBIX, PLTR, SWKS, ZEAL DC | Artificial Intelligence, EU Debt Crisis, fiscal policy, Rate Cuts, Sovereign Bonds | The July 2024 investment report highlights mounting structural pressures in Europe, including rising sovereign debt risks in France, demographic headwinds, and increased defense spending as the peace dividend fades. With France's debt-to-GDP above 110% and deficits exceeding EU thresholds, concerns about another EU debt crisis are resurfacing, potentially impacting bond spreads and refinancing conditions. Against this backdrop of geopolitical fragmentation and fiscal strain, ACATIS positions portfolios toward resilient global equities, AI beneficiaries, and selectively attractive fixed income opportunities benefiting from potential rate cuts. | CRBU CRSP GNK GR 2020 HK FMG AU BNTX SWKS PLTR |
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| 2025 Q4 | Mar 1, 2026 | iMGP Small Company Fund | 1.3% | 0.0% | AAP, AMKR, APPF, MANH, NVDA, PRM, RBC, UAMY | AI, Biotech, defense, growth, healthcare, Quality, small caps, technology | AI remained a significant driver throughout 2025, with AI-related stocks recovering after initial volatility from Chinese competitor DeepSeek and becoming the dominant theme again in late 2025. The market saw broadening beyond AI with materials performing well, but AI continues to be a desired area driving investment decisions. Biotech companies rallied over 25% in the fourth quarter, driven by a series of high-profile biotech acquisitions by large pharma buyers. The managers generally avoid biotech stocks due to their highly binary nature, though they participate through investments in companies that sell products and services to biotech customers. Defense spending themes emerged through specific investments like Antimony Corporation, which won a $245 million five-year sole source contract to rebuild the U.S. antimony supply for military use, taking advantage of export restrictions from China. RBC Bearings' Aerospace and Defense business was particularly strong. | View | |
| 2025 Q4 | Jan 23, 2026 | American Century Small Cap Value Fund | -1.1% | -3.3% | AMKR, ARCB, ARW, AVT, AXS, BBWI, BC, BIRK, COLB, EEFT, ENOV, EVTC, GPK, HZO, MARA, OKLO, ONB, PATK, SSB, TKR, UMBF | banks, consumer discretionary, healthcare, industrials, semiconductors, small cap, value | The fund maintains significant overweight exposure to banks, remaining constructive on the industry due to continued positive inflection in net interest income and belief that fears of an extended negative credit cycle were overstated. Many holdings still trade meaningfully below historical multiples. Overweight positioning tilted toward higher-quality, unique businesses targeting high-end consumers including global consumer brands like Brunswick and Birkenstock. Specialty retail exposure includes marine dealers and Bath & Body Works. The sector remains attractive with overweight positioning in higher-quality industrials including machinery, distribution, and commercial services. Many holdings demonstrated strong pricing power during inflationary environment and returned cash to shareholders via dividends, buybacks and debt reduction. Information technology contributed through stock selection, with strong results from Amkor Technology benefiting from AI packaging solutions and domestic chip manufacturing trends. The company is one of two in the US capable of providing large-scale advanced packaging solutions. | View | |
| 2025 Q4 | Jan 21, 2026 | Harbor Mid Cap Value Fund | 4.1% | 16.0% | AMKR, BK, CFG, COIN, EA, ENS, EXPE, FOXA, GM, GTX, HIW, HLF, HOG, HOOD, HPQ, JAZZ, KR, NEU, OC, PHM, PLAB, PVH, SNDK, STT, TXT, WBD, WDC | Buybacks, consumer discretionary, dividends, financials, mid cap, technology, value | The fund maintains its disciplined value investment approach, seeking high-quality, profitable companies that generate cash, pay dividends, and repurchase shares. Mid- and small-cap value stocks continue to trade at attractive multiples despite strong relative performance. AI-driven demand for storage led to strong earnings and increases in revenue growth and margins for technology holdings. AI-related technology stocks may appear priced to perfection, but the fund continues to identify opportunities among mid-cap value stocks. The fund seeks companies that repurchase shares, viewing aggressive stock buybacks positively. Several holdings including General Motors, Garrett Motion, and EnerSys have been aggressively buying back stock. | AMKR EA ENS GTX |
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| 2024 Q2 | Jun 30, 2024 | Riverwater Sustainable Value Strategy | -0.6% | 7.9% | AMKR, ATKR, LMNR, VECO | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 28, 2026 | Fund Letters | Rajesh Gandhi | Amkor Technology Inc. | Information Technology | Semiconductor Assembly & Testing | Bull | NASDAQ | Advanced Packaging, AI, Margins, Onshoring, Semi Conductors | View Pitch |
| Jan 24, 2026 | Fund Letters | Josef Lakonishok | Amkor Technology, Inc. | Information Technology | Semiconductor Assembly & Testing Services | Bear | NASDAQ | AI, cashflow, Momentum, semiconductors, valuation | View Pitch |
| Oct 24, 2025 | Value Investors Club | utah1009 | Amkor Technology, Inc. | Information Technology | Semiconductor Materials & Equipment | Bull | NASDAQ | CHIPS Act, OSAT, Semi Conductors, Takeout premium | 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 |
|---|---|---|---|---|---|---|---|---|
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $268,464 | 0.00% | 6,800 | -7,400 | -52.11% | 0.0023% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $121.0M | 0.14% | 3,064,101 | +2,895,298 | +1715.19% | 1.0567% |
| Ray Dalio | Bridgewater Associates | $27.4B | $3.0M | 0.01% | 76,139 | +76,139 | +100.00% | 0.0263% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $4.9M | 0.01% | 124,447 | +124,447 | +100.00% | 0.0429% |
| Israel Englander | Millennium Management LLC | $233.2B | $1.9M | 0.00% | 49,300 | -504,254 | -68.11% | 0.0170% |
| Aaron Weitman | CastleKnight Management LP | $4.5B | $6.9M | 0.15% | 174,000 | +174,000 | +100.00% | 0.0600% |
| Bob Robotti | Robotti & Co Advisors, LLC | $710.5M | $686,755 | 0.10% | 17,395 | -780 | -4.29% | 0.0060% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $21.8M | 0.03% | 552,782 | +514,926 | +1360.22% | 0.1906% |
| Cliff Asness | AQR Capital Management | $190.6B | $130.3M | 0.07% | 3,299,975 | -911,554 | -21.64% | 1.1380% |
| Tom Steyer | Farallon Capital Management | $21.2B | $18.3M | 0.09% | 464,000 | +464,000 | +100.00% | 0.1600% |
| $25.6B | $8.9M | 0.03% | 224,972 | +224,972 | +100.00% | 0.0776% | ||
| Rich Handler | Jefferies | $19.3B | $841,437 | 0.00% | 21,313 | -177,863 | -89.30% | 0.0074% |
| Richard Kayne & John Anderson | Kayne Anderson Rudnick Investment Management | $37.3B | $1,579 | 0.00% | 40 | +0 | +0.00% | 0.0000% |