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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 22, 2025 | Conestoga Small Cap Composite | 4.8% | -7.1% | AAON, AGYS, BFAM, CWAN, DSGX, ESE, EXPO, FSS, JBTM, MMSI, NEOG, RBC, ROAD, SLP | Beta, earnings, growth, Quality, small caps | The commentary highlights the challenges of conservative growth investing during periods dominated by low-quality, high-beta stock rallies. Management maintains focus on profitable small-cap companies with strong balance sheets and recurring revenues. Small-cap growth is positioned to benefit as fundamentals reassert importance over speculation. | SLP KIDS SSTI ERII HLMN MEG ROAD WLDN PL |
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| 2025 Q1 | May 1, 2025 | Conestoga SMid Cap Composite | -5.7% | -5.7% | ALTR MM, BFAM, CCCS, HBCP, IT, MMSI, PCTY, QTWO, ROAD, ROL, SPSC, WK | - | View | ||
| 2024 Q1 | Apr 15, 2024 | Mayar Capital | 7.7% | 9.6% | 005930 KS, 0K85 LN, 3M, BFAM, BLND LN, CAP FP, GOOG, HLCL LN, HOME SM, HWDN LN, JNJ, KVUE, PYPL, RITN GR, SAP, UL, UPS, VTY LN, VWS DC, WIX | - | View | ||
| 2024 Q1 | Apr 15, 2024 | Conestoga SMid Cap Composite | 12.9% | 12.1% | AXON, BFAM, CWST, FIVN, MRCY, NEOG, ROAD, TREX, WK | - | View | ||
| 2025 Q1 | Mar 31, 2025 | TimesSquare Capital Management U.S. Small Cap Growth Strategy | -9.6% | -9.6% | ACVA, ADUS, AZEK, BFAM, BJ, BOOT, CBLL, CHEF, CWST, DAWN, ERJ, FORM, FROG, FRPT, HLNE, INR, INSM, ITCI, KTOS, MGY, MVBF, PAY, PI, RRX, SLNO, TTEK, VERX, VRNA, VVV, WHD | - | View | ||
| 2024 Q4 | Dec 31, 2024 | Conestoga SMid Cap Composite | -0.7% | 11.4% | AXON, BFAM, CGNX, DSGX, EXPO, HLMN, KAI, MTN, NCNO, NOVT, PCOR, QTWO, ROAD, TFX, WK | - | View | ||
| 2024 Q4 | Dec 31, 2024 | Conestoga Mid Cap Composite | -4.6% | 4.4% | ANSS, BFAM, CPRT, EXPO, FTNT, HEI, IDXX, ROL, VRSK, WST | - | View | ||
| 2025 Q3 | Oct 28, 2025 | BBH Select Series – Mid Cap Fund | -0.9% | -1.8% | ANET, BFAM, BJ, BRKR, FOUR, GLOB, ITT, WMS | Artificial Intelligence, Intrinsic Value, Life Sciences, Quality, tariffs | The fund underperformed due to an AI-driven speculative rally favoring unprofitable firms and headwinds from tariffs and reduced life science funding. Management highlighted holdings like Arista Networks and Advanced Drainage as strong performers benefiting from AI infrastructure and sustainable earnings growth. Despite near-term challenges, BBH maintains a disciplined focus on quality, profitability, and intrinsic value to navigate speculative market excesses. | BJ UN ITT UN BRKR UN GLOB UN FOUR UN WMS UN ANET UN BJ UN ITT UN BRKR UN GLOB UN FOUR UN WMS UN ANET UN |
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| 2025 Q3 | Oct 24, 2025 | Artisan Global Discovery | 3.0% | 10.0% | ASC SJ, BFAM, CWAN, LSEG LN, MOD, PSN, PSTG, TDY, TEAM, WAY, WING | AI, defense, growth, healthcare, semiconductors | Equities advanced globally on AI-driven investment, easing tariffs, and broad rate cuts. The fund focuses on innovative growth companies in health care, technology, and defense with accelerating profit cycles. Managers highlight opportunities in biotech, semiconductors, and industrial automation amid evolving AI adoption and policy shifts. | WAY WING PRCT LSEG LN ASND PSTG MOD WAY TDY WING PRCT LSEG LN ASND PSTG MOD |
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| 2025 Q4 | Jan 18, 2026 | Mayar Capital | 4.5% | 14.1% | 005930.KS, 7476.T, 7974.T, BFAM, BKNG, BNNTF, CAP.PA, CFR.SW, CRDA.L, GOOGL, JNJ, KVUE, NESN.SW, NKE, OR.PA, PYPL, SOLV, TW.L, UL, UPS, V, VWS.CO | defense, fundamentals, global, Quality, Speculation, value | The fund maintains its disciplined value investing approach, focusing on boring companies with durable competitive advantages trading at reasonable prices. The manager emphasizes that fundamentals eventually win out despite current market speculation. The manager identifies significant red flags in circular financing fueling the AI boom, comparing it to vendor financing of the late 90s. Companies like Oracle, OpenAI, Nvidia and CoreWeave participate in arrangements that effectively fund their own customers' purchases. Strategy Inc. (formerly MicroStrategy) serves as a cautionary tale of speculative excess. The stock fell 60% as its premium to Bitcoin holdings evaporated, forcing the company to sell equity to cover preferred dividends rather than buy more Bitcoin. | NKE TW LN BKNG |
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| 2023 Q1 | Apr 22, 2023 | Mayar Capital | 7.7% | 9.6% | 9627 JP, BFAM, BNR GR, CFR SJ, DAN SW, DBX, EA, HLCL LN, HOME SM, HWDN LN, JNJ, PYPL, RITN GR, UN SW, WIX LN | - | View | ||
| 2025 Q1 | Mar 31, 2025 | Artisan Mid Cap Fund | -7.4% | -7.4% | ASC SJ, AZO, BBY, BFAM, BKR, CCCS, DASH, DDOG, DECK, MRVL, PLTR, SAIA, SNOW, SPOT, VKTX, WST | - | View | ||
| 2025 Q1 | Mar 31, 2025 | Mayar Capital | 2.9% | 2.9% | 005930 KS, AHT LN, ALO FP, BFAM, BLND LN, CAP FP, FOUR LN, GOOG, HLCL LN, JNJ, KVUE, LH, NKE, NVO, PYPL, SAP FP, SOLV, SOM LN, UPS, V, VTY LN | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Aug 8, 2025 | Seeking Alpha | Giovana Pereira | Bright Horizons Family Solutions Inc. | Consumer Discretionary | Personal Services | 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. | ||||||||