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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 29, 2025 | ClearBridge Investments Small Cap Growth Strategy | - | - | BBIO, BOOT, BPMC, BWX, CASH, DUOL, ICLR, INSM, MIRM, PD, ROAD, RYTM, SNY, SPT, TARS, UMBF, UTI, VYGR, WING, WIX | AI, Biotechnology, growth, nuclear, small caps, Space, technology, Trade Policy | Generative AI represents a generational potential to reshape numerous aspects of business and daily life, with a rapidly evolving technological paradigm of winners and losers. Duolingo is leveraging AI to offer enhanced language learning to consumers. | View | |
| 2025 Q1 | Apr 30, 2025 | Invesco Discovery Fund | -12.2% | -12.2% | AAON, ALAB, BBIO, CLS.TO, COOP, CRS, CWAN, CWST, CYBR, DUOL, EHC, ERJ, EVR, FRPT, FTI, GKOS, ITCI, KKR, LITE, OLLI, PRS, RKLB, WAY | aerospace, AI, Biotech, growth, healthcare, small cap, technology | The fund experienced challenges from AI-related volatility, with the secular growth narrative being challenged by DeepSeek developments. Astera Labs declined significantly due to concerns about lower-cost AI models from China affecting the AI infrastructure investment thesis. | BBIO RKLB WAY |
View |
| 2025 Q4 | Feb 25, 2026 | Lord Abbett Developing Growth Fund | 1.7% | 14.6% | BBIO, CELH, CRDO, CRS, FIX, GH, KTOS, LRN, MDGL, MOD, RDDT, RKLB, WGS | AI, growth, Health Care, industrials, innovation, small caps, technology | Generative artificial intelligence continues to provide markets an additional tailwind through productivity gains. Innovation is flourishing in pioneering Gen AI companies in semiconductors and software, as well as industrial companies enabling datacenter expansion and power infrastructure to support it. AI is also playing a role in the emerging defense and space technology sector. The defense and space technology sector is experiencing a positive inflection as a historically low growth area sees advancement in autonomous software and hardware systems. AI's role is particularly exciting in this emerging sector. Industrial companies are enabling datacenter expansion and power infrastructure to support the growing artificial intelligence infrastructure needs. Health Care sector contributed to relative performance, with significant allocations to precision oncology companies and pharmaceutical companies focused on specialized treatments. | View | |
| 2025 Q4 | Jan 14, 2026 | Driehaus Small Cap Growth Fund | 16.9% | 10.7% | BBIO, CRNX, CW, FN, GH, XBI | AI, Biotechnology, earnings, growth, healthcare, productivity, small caps | AI continues to be the dominant theme driving the market and economy. Demand for AI LLMs is going up exponentially, with demand by AI users and related demand for AI compute continuing to exceed supply. AI capex and data center spending are expected to remain strong as LLMs still need to increase dramatically in terms of intelligence. Small caps continue to outperform since the April bottom, with the Russell 2000 returning nearly 42.4% from the low. Small cap earnings have accelerated in 2025 and are improving on an absolute and relative basis, expected to outgrow large cap earnings in percentage terms over the next year. Healthcare displayed very strong relative performance with biotech/pharma holdings seeing standout gains driven by positive clinical trial results and clinical approvals. The biotech ETF is making a new four year high, representing a significant turnaround from being a laggard. Non-farm productivity surged in Q3, growing at an annual rate of 4.9%. Strong productivity in part driven by AI is boosting economic growth and positively impacting corporate earnings over the near-term, despite labor market stagnation. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Invesco Discovery Fund | BridgeBio Pharma Inc | Health Care | Biotechnology | Bull | NASDAQ | biotechnology, Commercial Launch, drug approval, Genetic Diseases, Heart Disease, Orphan drugs, rare diseases, Specialty pharma | 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 |
|---|---|---|---|---|---|---|---|---|
| Andreas Halvorsen | Viking Global Investors | $37.7B | $1.1B | 2.92% | 14,393,934 | -1,583,915 | -9.91% | 7.7271% |
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $963,774 | 0.00% | 12,600 | -111,468 | -89.84% | 0.0068% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $290,662 | 0.00% | 3,800 | +3,800 | +100.00% | 0.0020% |
| Mark Bussard | Rock Springs Capital | $1.9B | $7.9M | 0.41% | 103,500 | +18,500 | +21.76% | 0.0556% |
| Ray Dalio | Bridgewater Associates | $27.4B | $3.3M | 0.01% | 43,172 | +43,172 | +100.00% | 0.0232% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $940,827 | 0.00% | 12,300 | -12,300 | -11.88% | 0.0066% |
| Israel Englander | Millennium Management LLC | $233.2B | $2.8M | 0.00% | 36,585 | -133,852 | -78.53% | 0.0196% |
| Terrence Murphy | Clearbridge Investments | $124.9B | $38.1M | 0.03% | 498,329 | +5,266 | +1.07% | 0.2675% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $148.9M | 0.22% | 1,947,047 | -381,894 | -16.40% | 1.0452% |
| Cliff Asness | AQR Capital Management | $190.6B | $10.3M | 0.01% | 134,517 | +35,690 | +36.11% | 0.0722% |
| Brian Ashford-Russell | Polar Capital Holdings | $25.8B | $99.4M | 0.38% | 1,299,346 | +318,288 | +32.44% | 0.6975% |
| Tom Steyer | Farallon Capital Management | $21.2B | $688.3M | 3.25% | 8,998,463 | -7,385,537 | -45.08% | 4.8307% |
| Rich Handler | Jefferies | $19.3B | $15.3M | 0.08% | 200,000 | +200,000 | +100.00% | 0.1074% |