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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 27, 2025 | Cullen Value Fund | 7.0% | 8.5% | AAPL, AMAT, AMZN, AXP, AXTA, C, CI, COP, CVX, GOOGL, JPM, KVUE, MDT, META, MS, MSFT, NVDA, ORCL, TSLA | AI, financials, growth, tariffs, technology, value | Value stocks continue to trade at a meaningful discount relative to the broader market and Growth equities. The valuation gap between Growth and Value stocks has reached historically extreme levels, with Growth stocks trading at a 130% premium to Value stocks. This valuation gap, combined with the potential for a shift in sentiment and improving asset flows as relative growth rates converge, serves as a catalyst for improved relative performance. | KVUE AMAT ORCL |
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| 2026 Q1 | Apr 13, 2026 | The London Company SMID Cap | -3.6% | -3.6% | ACIW, AWI, AXTA, CCC, CHDN, COO, ENTG, ESI, MUSA, QLYS, TREX, WAT | cybersecurity, energy, Geopolitical, Quality, semiconductors, SMID Cap, value | ACIW CCC COO AWI CHDN QLYS ESI MUSA ENTG |
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| 2025 Q1 | Mar 31, 2025 | Cullen Value Fund | 1.4% | 1.4% | AXP, AXTA, BAC, CI, GD, JNJ, KVUE, MDLZ, MDT, MS, PKG, RTX, SIE.DE, SRE, TFC | AI, defense, dividends, healthcare, industrials, tariffs, value | Value stocks significantly outperformed Growth in Q1 with Russell 1000 Value up 2.1% versus Russell 1000 Growth down 10.0%. Growth stocks trade at a 94% premium to Value stocks, well above the 57% historical average. The rotation into Value stocks is in early stages of a potentially longer-term resurgence presenting compelling investment opportunities. | View | |
| 2022 Q1 | Mar 30, 2022 | Aristotle/Saul Global Equity Fund | 6.4% | 11.6% | AXTA, BAC, BN, CB, CCJ, DLB, FMC, LEN, WBA | - | View | ||
| 2023 Q3 | Mar 10, 2023 | Ariel Appreciation Fund | 9.9% | 0.0% | AXTA, GNRC, IPG, KKR, MAT, NOV | Advertising, Asset Managers, energy, Entertainment, mid cap, Power Equipment, value | NOV Inc. advanced following strong earnings as improving offshore drilling demand leads to higher day rates and longer contract terms. The company is deploying new digital, low emissions fracking equipment and rig automation to enhance drilling efficiency, while winning international projects including Saudi Aramco's 10-year rig building plan. | AXTA GNRC IPG KKR APA|C|FFIV|KHC|NOV|UNH AMAT |
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| 2024 Q4 | Jan 23, 2025 | Aristotle Small Cap Equity Fund | -0.5% | 9.4% | ACHC, AMTM, ASC, AXTA, AZPN, COLD, DY, EMR, GTLS, HASI, HURN, HXL, INFN, J, KBH, LQDT, MTSI, NOK, SUM, TROX | healthcare, industrials, M&A, materials, small caps, technology, value | Manager remains optimistic about long-term potential for small-cap segment. Valuations within small-cap segment remain compelling relative to large caps, with Russell 2000 Index trading near multi-decade lows on a relative basis. Potential tailwinds include deregulation, increased M&A activity, continued decline in interest rates, continued reshoring of U.S. manufacturing, and infrastructure-related spending. | TROX HXL AXTA COLD AMTM ASC ACHC GTLS |
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| 2024 Q4 | Jan 23, 2025 | Aristotle Small/Mid Cap Equity | -0.5% | 13.5% | ACHC, AXTA, AZPN, CMCO, COLD, CTLT, DOC, GTLS, HXL, INFN, NSIT, SUM | growth, healthcare, industrials, materials, SMID Cap, technology, value | Chart Industries benefited from surging demand for cryogenic equipment used in the clean energy sector, with record high orders and substantial sales increases. The company's equipment serves the industrial gas, energy, and biomedical industries with particular strength in clean energy applications. | NSIT HXL DOC CMCO AXTA COLD |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Ariel Appreciation Fund | Axalta Coating Systems, Ltd. | Materials | Specialty Chemicals | Bull | NYSE | automotive, Coatings, ERP implementation, margin expansion, market share, Mobility Coatings, Raw Materials, Refinishing, specialty chemicals, Vehicle Production | View Pitch |
| Apr 13, 2026 | Fund Letters | Aristotle Small Cap Equity Fund | Axalta Coating Systems | Materials | Chemicals | Bull | NYSE | automotive, Chemicals, Coatings, Cyclical Recovery, Industrial, Management Turnaround, Refinishing | View Pitch |
| Apr 13, 2026 | Fund Letters | Aristotle Small/Mid Cap Equity | Axalta Coating System | Materials | Specialty Chemicals | Bull | NYSE | automotive, Coatings, Cyclical Recovery, Industrial, Management Turnaround, Self-Help Initiatives, specialty chemicals | View Pitch |
| Feb 18, 2026 | Seeking Alpha | Seeking Alpha | Axalta Coating Systems Ltd. | Specialty Chemicals | Coatings | Neutral | New York Stock Exchange | Akzo Nobel, Axalta Coating Systems, Coatings, end markets, Management Quality, market share, merger, Revenue Growth, specialty chemicals, valuation | View Pitch |
| Oct 6, 2025 | Value Investors Club | durableadvantage | Axalta Coating Systems Ltd. | Materials | Specialty Chemicals | — | NYSE | coatings, refinish, auto repair, ADAS, insurance claims, cyclical vs secular, BASF sale, M&A optionality, premium market share, specialty chemicals | 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. | ||||||||