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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Jul 1, 2024 | Night Watch Investment Management | -2.9% | 10.3% | ASML, ATRO, BC, CWH, DSGR, JOE, NE, NVO, TDW, VAL | aerospace, consumer, energy, Europe, Housing, Offshore Drilling, value | Valaris is the largest offshore drilling company globally, positioned to benefit from growing offshore oil demand in Brazil and Western Africa. Day rates have risen from $200k to $500k per day as the market has tightened, with the company expected to generate $1.65B in free cash flow at current rates. | VAL |
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| 2025 Q1 | May 14, 2025 | Recurve Capital | -13.0% | -13.0% | AMZN, BC, CCOI, CVNA, ELF, RCL, RH, W | consumer, growth, Luxury, tariffs, technology, uncertainty, volatility | The administration has launched a massive global tariff campaign utilizing executive branch emergency powers to unprecedented levels. The nature of these unilateral tariff policy changes, implemented with almost no notice, creates higher volatility and uncertainty. The fund has about 22% exposure to consumer goods companies with less than 20% direct tariff exposure, primarily through RH and ELF which have elevated exposure to China and Vietnam supply chains. | W CCOI RH |
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| 2025 Q1 | Mar 31, 2025 | TimesSquare Capital Management U.S. Mid Cap Growth Strategy | -3.5% | -3.5% | ALL, BC, BJ, COR, EME, FICO, FROG, HOOD, HXL, INSM, IT, ITCI, JNJ, ORLY, ROST, TER, TPG, VRSK, WCN | consumer, financials, growth, healthcare, industrials, mid cap, technology, Trade Policy | China's DeepSeek AI model announcement in January created concerns about reductions in massive AI infrastructure spending, weighing on semiconductors and related industries. Corporate IT buyers showed more moderate spending though with resilience expected for AI and cybersecurity. The wider creation or adoption of GenAI applications for businesses is expected to generate greater activity volumes for companies like JFrog. | View | |
| 2023 Q4 | Dec 31, 2023 | TimesSquare Capital Management U.S. Mid Cap Growth Strategy | 4.8% | 0.0% | APTV, ARGX, BC, BJ, COR, DXCM, FIVE, FND, IBKR, ICLR, IDXX, LEGN, LNG, NDAQ, ORLY, PINS, PXD, RNR, ROST, STVN, TPG | consumer, cybersecurity, growth, healthcare, industrials, mid cap, technology | Cybersecurity remains a top priority for companies, propelled by recent well-publicized cyberattacks at MGM Resorts, Caesars Entertainment, and Clorox. New SEC disclosure rules on cyber risks took effect in December 2023, requiring additional governance rules for cyber risk management strategy. Channel checks indicate that IT budgets will continue growing, with cybersecurity becoming an increasing percentage. | View | |
| 2023 Q4 | Dec 31, 2023 | TimesSquare Capital Management U.S. FOCUS Growth Equity Strategy | 3.7% | 0.0% | BC, CHE, CRWD, CTAS, IDXX, IT, MLM, PANW, RNR, VEEV, VRSK | cybersecurity, growth, healthcare, industrials, infrastructure, mid cap, technology | Cybersecurity remains a top priority for companies, propelled by recent well-publicized cyberattacks at MGM Resorts, Caesars Entertainment, and Clorox. New SEC disclosure rules on cyber risks took effect in December 2023. IT budgets will continue growing, with cybersecurity becoming an increasing percentage. | VEEV ABC ACGL|APH|COO|CSGP|DKNG|GWRE|IDXX|IOT|IT|LPLA|MSCI|MTD|PCOR|ROP|TECH|VRSK KMLM CHE CTAS PANW 1ITCI IM AVGO|BYD|CRWD|MELI|MSFT|NFLX|NVDA|NVO|ORLY|SPOT |
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| 2024 Q3 | Oct 15, 2024 | Recurve Capital | - | - | AMZN, AWI, BC, CCOI, CVNA, NCLH, RCL, RH, V, W | Concentration, disruption, growth, long-term, Process, Psychology | Carvana represents one of the best disruptive growth stories in the market, disrupting the used auto industry with powerful flywheel effects and operating leverage from future growth. The company has no serious risk of competitive disruption on the horizon and is actually the disruptor in its industry. Despite being up significantly, the manager remains exuberantly positive about its future returns and risk/reward profile. | CCOI CVNA |
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| 2023 Q3 | Oct 10, 2023 | Oakmark Global Fund | 7.5% | 0.0% | ALV.DE, AMZN, BC, CHTR, CNHI, COP, CSCO, FLS, GOOGL, IPG, NVST, ORCL, PH, PRU.L, STJ.L, THC | Cloud, global, Networking, software, technology, Telecommunications, value | Oracle's cloud business is showing strong momentum with infrastructure cloud services growing 72% and strategic back office cloud reaching $6.9 billion in run-rate revenue. The company signed several deals greater than $1 billion in total value during the quarter and booked an additional $1.5 billion in the first week of the second quarter. | CSCO ABC ADI|BDX|FI|FND|HAS|META|MSFT|MSI|ORCL|TMO STJ.L CHTR |
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| 2024 Q3 | Oct 1, 2024 | Night Watch Investment Management | -2.9% | 10.3% | 1126.HK, 2318.HK, ATRO, BC, BLDR, DSGR, JOE, LEG, SEG, VAL, XFAB.PA | Automotive, catalysts, energy, global, Offshore, semiconductors, value | X-FAB is positioned to benefit from the expected bottoming of the semiconductor cycle after 4-6 quarters of downturn. Order intake has turned sharply higher since Q1 with book-to-bill of 1.2x in both quarters. The automotive sector is expected to return to growth in Q4 with industrial and medical recovering during 2025. | XFAB.PA |
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| 2024 Q4 | Jan 28, 2025 | Citadel Value Fund | - | - | 005930.KS, 3436.T, 6201.T, AAPL, AD.AS, AEO, BC, CON.DE, JST.DE, KER.PA, NOV, NVDA, PHIA.AS, STLA, TGS.OL, UHR.SW, VLGEA | Automotive, Industrial, Luxury, semiconductors, small caps, technology, value | The fund emphasizes value investing principles, purchasing solid investments at low entry valuations as a time-tested approach since 2002. The portfolio trades at a 44% discount to estimated intrinsic value with a look-through free cash flow yield of 6% and EV/EBITA multiple of 8x, contrasting with the MSCI World index at 18x operational profit. | STLA BC KER.PA JOST.DE |
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| 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 | |
| 2023 Q3 | Sep 30, 2023 | TimesSquare Capital Management U.S. FOCUS Growth Equity Strategy | 3.7% | 0.0% | BC, CHE, CRWD, IDXX, LNG, MLM, ORLY, PANW, RNR, SNPS, VRSK, WCN | Cloud, consumer, cybersecurity, energy, growth, healthcare, infrastructure, mid cap | While cloud adoption is still nascent, businesses slowed spending earlier this year as part of cost-cutting measures. Companies are now in better financial positions and beginning to reengage with cloud initiatives, with green shoots noted by some holdings. | ACGL|APH|COO|CSGP|DKNG|GWRE|IDXX|IOT|IT|LPLA|MSCI|MTD|PCOR|ROP|TECH|VRSK ICLR|LLY|PLTR|SNPS|TGT RNR DLNG AVGO|BYD|CRWD|MELI|MSFT|NFLX|NVDA|NVO|ORLY|SPOT |
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| 2023 Q4 | Jun 1, 2024 | East72 Holdings | 6.3% | 0.0% | 0001.HK, BC, C, DRR.AX, DXS.AX, EXOR, GOOGL, GS, ICE, IWG.L, JPM, MANU, MFG.AX, PAH3.DE, UBS, UHAL, VIRT, VOW3.DE, YBR.AX | Asset Management, Australia, Concentration, Hedging, Investment Banking, Sports Teams, value | Manager discusses significant investments in Goldman Sachs and JP Morgan which contributed positively to quarterly returns. Also analyzes Barrenjoey Capital Partners as a strategic investment representing exposure to Australian investment banking with potential for significant value creation. | MFG.AX MANU |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Recurve Capital | Brunello Cucinelli S.p.A. | Consumer Discretionary | Textiles, Apparel & Luxury Goods | Bull | BIT | Artisanal, Cashmere, Global Luxury Market, Italian Fashion, Luxury goods, Premium Brand, Sustainable Luxury | View Pitch |
| Apr 13, 2026 | Fund Letters | Citadel Value Fund | Brunswick Corporation | Consumer Discretionary | Leisure Products | Bull | NYSE | aftermarket, Cyclical, Marine Products, Mercury Engines, Recovery Play, Recreational Boating, US market, Value | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Daniel Jones | Brunswick Corporation | Consumer Discretionary | Recreational Vehicles | Bull | 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. | ||||||||