BIO Archives

BIO

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Aug 19, 2025	Prosper Stars & Stripes	9.6%	-0.8%	AGYS, AZTA, BIO, EXPO, FTAI, HELE, KRMN, LASR, MGNI, PACK, SPHR, TATT, TKNO	aerospace, AI, Biotechnology, defense, Long/Short, Rate Cuts, small caps, tariffs	Defense spending has strengthened with clearer priorities, particularly in missile and drone defense reflecting modern warfare evolution. The fund identified nLIGHT as a beneficiary of increased spending on laser-based anti-missile and anti-drone systems, which offer cost-efficient solutions with low cost per shot and unlimited magazine capacity.		View
2025 Q2	Jul 22, 2025	Longleaf Partners Fund	5.3%	-0.1%	BIO, CNX, EXOR.MI, FDX, FIS, HF, IAC, KHC, MAT, MGM, PVH, REGN	Buybacks, Cash, energy, healthcare, tariffs, value	The fund maintains a low-60s% price-to-value ratio and below 10x price-to-free cash flow multiple while the market trades at well above 20x. They continue to avoid popular favorites and tilt toward where near-term emotions have led to mispricings in their favor.	FDX REGN KHC MGM DINO	View
2025 Q2	Jul 22, 2025	Longleaf Partners Global Fund	10.5%	8.1%	AMG, ANGI, BIO, CNX, DINO, ERF.PA, EXO.MI, FDX, GLB.L, IAC, KHC, MAT, PHG, PVH, REGN, RKT.L	Buybacks, global, healthcare, Spin-Offs, Trade Policy, undervalued, value	Portfolio trades at high-50s% price-to-value ratio with P/FCF below 10x versus broader market at 20x. Manager continues to avoid popular favorites and tilts toward emotional mispricings. Securities owned have stock-specific undervaluation reasons.	FDX REGN KHC LH.PA GLB.L CANAL.PA CAN LN	View
2023 Q2	Jul 14, 2023	Titan Wealth	-	-	ABNB, AMZN, BIO, BMW.DE, DBX, DIS, ETSY, ILMN, MSFT, NVDA, ORCL, REGN	AI, Energy Transition, global, inflation, Multi-Asset, technology, value	AI has dominated markets this year with companies like Microsoft, Nvidia, and Oracle benefiting significantly. The firm sees AI as a transformative technology creating compelling investment opportunities globally. They maintain exposure through specialized funds and individual holdings positioned to capture this secular growth trend.		View
2024 Q1	May 7, 2024	Longleaf Partners Global Fund	14.8%	18.4%	AMG, BIO, CNX, DHER.DE, EQT, EXOR.MI, FBIN, FDX, FFH.TO, FIS, GLB.L, H, IAC, K, LYV, MLCO, PRX.AS, PVH, TIGO, WBD	Buybacks, global, Logistics, Media, Natural Gas, technology, value	Multiple portfolio companies are executing substantial share repurchase programs. CNX Resources continues share repurchase at a double-digit annualized pace, FedEx repurchased substantial stock with 6% annualized pace and authorized another $5 billion program, and FIS is using proceeds from asset sales to repurchase 10% of the company.	WBD FIS FDX CNX	View
2024 Q1	May 7, 2024	Longleaf Partners Fund	10.4%	10.3%	AMG, BIO, CHTR, CNHI, CNX, FBHS, FDX, FFH, FIS, H, IAC, K, LBRDA, LYV, MAT, RTX, WBD, WMG	Buybacks, free cash flow, Logistics, Media, Natural Gas, technology, value	Multiple portfolio companies are executing substantial share repurchase programs. FIS is repurchasing 10% of the company, CNX continues share repurchase at a double-digit annualized pace, and FedEx maintains a 6% annualized repurchase pace with another $5 billion program authorized.	WBD LBRDA FDX CNX FIS	View
2025 Q1	Apr 17, 2025	Titan Wealth	-	-	AAPL, ADBE, AMD, AMZN, AVGO, BIO, BMW.DE, EBAY, EL, EOAN.DE, ETSY, HEIA.AS, JPM, LLY, MT, NKE, NVDA, RWE.DE, STLA, V	AI, ETFs, Europe, infrastructure, tariffs, technology, Utilities	The ongoing rise of Exchange Traded Funds has significantly altered equity market structure, with the top 10 companies now accounting for around 20% of the MSCI World Index. This dominance is driven by passive investment flows, creating both challenges and opportunities for active managers.		View
2026 Q1	Apr 16, 2026	Ariel Focus Fund	7.3%	7.3%	APA, BAC, BIO, CVX, FDS, FISV, GS, ORCL, SLB	Banking, energy, Geopolitical, large cap, oil, technology, value			View
2024 Q1	Apr 15, 2024	Ariel Appreciation Fund	9.9%	0.0%	BIO, KN, LAZ, MSGE, NVST, NVT, SNA, WBA	AI, earnings, Electrical, Entertainment, healthcare, mid cap, value	Investor enthusiasm around artificial intelligence drove broad-based market rally in Q1. AI-themed mega-cap stocks showed exuberance that may eventually prove excessive, though patient investors focus on fundamentals over market psychology.	BIO NVST KN WBA MSGE LAZ NVT	View
2025 Q1	Apr 12, 2025	Longleaf Partners Fund	-5.1%	-5.1%	ACI, AMG, BIO, CNX, EXOR.MI, FDX, FIS, HFC, IAC, MAT, PVH, PYPL, RTX	Buybacks, energy, healthcare, technology, Trade Policy, value	Fund focuses on quality companies trading at significant discounts to intrinsic value with P/V ratio below 60%. Manager emphasizes value stock picking environment where nimble companies on offense are rewarded versus largest index companies.	PVH PYPL FDX CNX BIO RTX MAT IAC ACI	View
2025 Q1	Apr 12, 2025	Longleaf Partners Global Fund	-2.2%	-2.2%	ACI, BIO, CNX, DHER.DE, EXOR.MI, FDX, FIS, GLB.L, HFC, IAC, MAT, TIGO	Cash, global, healthcare, Logistics, Quality, tariffs, value	The fund maintains a price-to-value ratio under 60% which is highly attractive. The manager believes this is setting up to be a better environment for value stock picking where nimble companies on offense are rewarded rather than the biggest index companies continuing to go straight up.	GLB FDX CNX BIO TIGO IAC ACI	View
2023 Q3	Dec 10, 2023	Longleaf Partners Fund	10.4%	10.3%	AMG, BIO, CNH, CNX, FDX, FFH, GE, HAS, IAC, LBRDK, MAT, MGM, WBD, WMG	Buybacks, Concentration, energy, Media, Quality, value	The fund emphasizes owning high-quality businesses trading at significant discounts to intrinsic value. Portfolio trades at 13x P/E on not yet optimized earnings with a price-to-value ratio in the low-60s%, offering meaningful upside potential. Fund avoids mega-cap stocks trading at historic valuation multiples.	0GEG LN NWBD.L IAC AMAT WMG CNX	View
2024 Q3	Nov 7, 2024	Prosper Stars & Stripes	-2.0%	-	BIO, BLFS, CRS, DOCS, FLT, FND, FOXF, NR, PCT, RGEN, SHC, UPWK, WEX	aerospace, healthcare, infrastructure, interest rates, Long/Short, Recession, semiconductors, small cap	The semiconductor industry has experienced a 20%+ decline in revenues similar to past industry cycles, following supply shortages that drove demand to unsustainably high levels during the pandemic. The manager sees opportunities in this rolling cycle as the industry normalizes from previous boom-bust dynamics.		View
2024 Q3	Oct 18, 2024	Titan Wealth	-	-	1972.HK, 300750.SZ, 3690.HK, ABNB, BIO, BMW.DE, CRM, DEO, DIS, EBAY, EL, EW, GOOGL, HEIA.AS, HLN.L, LVMH.PA, MA, META, MSFT, NFLX, NVDA, ORCL, PYPL, SNY, STLA, TMO, UL	emerging markets, global, healthcare, income, Multi-Manager, Rate Cuts, technology	Long-term theme of emerging global middle class remains intact despite recent underperformance. Emerging economies outpacing developed world on output-per capita basis with faster earnings expansion, better margins, less debt, and cheaper valuations. Chinese stimulus measures helping lift emerging market positions.		View
2024 Q3	Oct 16, 2024	Longleaf Partners Fund	10.4%	10.3%	AMG, BIO, CNX, FDX, FIS, IAC, K, LYV, MAT, MGM, PVH, PYPL	Buybacks, gaming, Logistics, Natural Gas, payments, value	Multiple portfolio companies are executing significant share repurchase programs. PayPal repurchased nearly 10% of its shares on an annualized basis, leading to stronger FCF per share growth. MGM continues to execute significant share buybacks, further boosting FCF per share. CNX Resources directs free cash flow to value accretive share repurchase.	FDX MGM PYPL CNX K	View
2025 Q3	Oct 15, 2025	Upslope Capital Management	8.8%	12.5%	8697.T, BIO, CHG.L, CME, DPLM.L, EVR, FCN, GOOGL, HOLN.SW, HSY, IMXI, INTC, KDEF, MKTX, SAND.ST, SMIN.L, SRT.DE, STE, TDY, WST	AI, defense, healthcare, Long/Short, Quality, risk management, valuation	Elevated and rising geopolitical tensions globally and in Asia-Pacific should drive sustained defense investment for years. Korean defense industry maintains significant relative cost advantages versus US and European peers while being cheaper, faster and compatible with NATO standards.		View
2025 Q3	Oct 15, 2025	Ariel Focus Fund	20.8%	-	AJG, BIO, CLB, FI, Gold, MOS, PBH, REZI, SLB, ZIMV	Buybacks, energy, financials, healthcare, materials, small caps, technology, value	The fund continues to focus on undervalued businesses with compelling value opportunities. Small-cap equities and select cyclicals are trading at historically attractive levels, with small caps trading at one of the steepest discounts to large caps since the dot-com era.	FISV AJG SLB PBH	View
2025 Q3	Oct 15, 2025	Longleaf Partners Fund	-0.3%	-0.4%	ACI, ANGI, BIO, CNX, EXOR.MI, FDX, FIS, H, HFC, IAC, KHC, MAT, MGM, PCH, PVH, REGN, RYN	AI, Bubble, Buybacks, FCF, spinoffs, undervalued, value	Fund focuses on companies trading at significant discounts to intrinsic value with P/V ratio in low-60s%. Manager emphasizes buying undervalued assets with growing free cash flow per share while avoiding overvalued market segments.	BIO REGN PCH RYN ACI FDX MGM IAC KHC MAT CNX	View
2025 Q4	Jan 5, 2026	First Eagle Investments	0.0%	0.0%	BIO, GMEXICOB.MX, TSM	AI, Copper, global value, gold, infrastructure, municipal bonds, private credit, small cap	Gold set more than 50 record nominal highs in 2025, surging about 60% year-to-date through November. Central bank purchases have exceeded 1,000 tonnes in each of the past three full years, with gold holdings as a share of foreign reserves now exceeding Treasuries for the first time in 30 years. The team views gold as a fixed positional asset that participates in nominal drift of the economy. AI capex cycle continues to drive corporate earnings growth forecasts. TSMC is positioned as the primary manufacturer of next-gen chips used in generative AI by customers like Apple, Nvidia and Intel. AI may benefit small cap companies over a very long cycle through pick-and-shovel suppliers to infrastructure and data center construction. Grupo Mexico controls long-duration copper assets that are nearly impossible to replicate, with the largest reserves of any copper producer and mines well positioned on the cost curve. The company is positioned to benefit from the constructive long-term outlook for copper demand. An estimated 90% of dollars raised and spent on US infrastructure is financed through municipal bonds. The American Society of Civil Engineers graded America's infrastructure a C in 2025, indicating ongoing need for investment. Much of municipal bond issuance has been concentrated on infrastructure projects. Private equity investments benefited from zero interest rates following the global financial crisis, but the cost of acquiring and building businesses has increased since rates shifted higher in 2022. Underwriting standards have deteriorated in parts of the private credit market, with increased lending to borrowers with weaker covenant protections.	BIO TSM	View
2025 Q4	Jan 14, 2026	Longleaf Partners Global Fund	5.3%	16.7%	ANGI, AVTR, BIO, CNH, CNX, DHER.DE, EXOR.MI, F, FI, GLAN.L, GRUMA.MX, IAC, JFC.PS, KHC, MAT, MGM, PHG, REGN, STLA, TIGO, UNH	Buybacks, FCF, global, Holdings, Media, Quality, value	The fund maintains a concentrated portfolio of undervalued stocks trading at low P/V ratios in the low-60s%. Management emphasizes finding defensive growers like consumer staples and timberland companies at better prices, similar to their successful positioning in 1999. They focus on companies with strong free cash flow generation and quality management partners. Multiple portfolio companies are actively repurchasing shares at attractive prices. MGM has repurchased over 40% of shares in five years, Glanbia added to buyback programs, and Exor executed efficient share repurchases via Dutch auction. The fund views these as value-creating capital allocation moves. Canal+ renewed exclusive UEFA Champions League rights for 2027-2031 at better economics than feared, reinforcing subscriber base quality. The company made operational progress across European and African platforms following the MultiChoice merger, though remains underfollowed as a French media company on London Stock Exchange.	AVTR BIO ANGI MGM KHC IAC TIGO GLB LN CAN LN	View
2025 Q4	Jan 13, 2026	Upslope Capital Management	2.0%	14.8%	6954.T, 8697.T, BAH, BIO, CCK, CME, DPLM.L, FCN, GOOGL, HOLN.SW, HSIC, HSY, INTC, MKTX, SAND.ST, SMIN.L, STE, TDY	AI, Automation, defense, healthcare, industrials, Japan, Long/Short, mid cap	Manager exited European defense stocks for the first time since early 2022, citing full valuations and expectations that the Ukraine conflict may wind down. However, maintains exposure through Booz Allen Hamilton and Korea Defense ETF, noting long-term secular tailwinds from rising geopolitical risks and defense spending. AI is described as everywhere, particularly on buyside analyst desktops, contributing to faster market pace and gambling-like behavior. Manager sees AI moving into the physical world as a catalyst for industrial automation companies like Fanuc, which is positioned to benefit from AI's expansion beyond digital applications. Fanuc holds ~50% market share in CNCs and is a leading factory robotics player, positioned to benefit from AI moving into the physical world and rising trade barriers boosting global reshoring. The company serves general industrial, automotive, electronics, and aerospace end markets with global diversification. Portfolio includes Japan Exchange Group benefiting from ongoing Japanese equity market structure reforms and corporate governance improvements. Fanuc represents exposure to leading Japanese industrials with fortress balance sheets and global market leadership in automation.	HSIC 6954 JP CCK BAH	View
2024 Q3	Sep 30, 2024	Ariel Fund	12.1%	0.0%	BIO, CLB, GNTX, JLL, LAZ, LESL, MHK, MIDD, SRCL	healthcare, industrials, real estate, small caps, SMID Cap, value	The fund focuses on investing in undervalued companies trading at discounts to private market value estimates. Management emphasizes patient investing in differentiated businesses with solid competitive positioning and robust balance sheets to generate superior returns over time.	MIDD BIO CLB GNTX LESL JLL LAZ MHK	View
2024 Q3	Sep 30, 2024	Ariel Focus Fund	10.6%	0.0%	APA, BIO, CLB, LMT, MHK, MOS, ORCL, WU	AI, Buybacks, defense, energy, Fertilizers, large cap, value	Oracle is benefiting from artificial intelligence demand as well as its ability to provide cloud-based infrastructure for data centers. The company announced partnerships with AWS, Microsoft and Google that have fueled excellent growth and raised management's longer-term revenue target to over $104 billion, implying 16% annual growth.	BIO MOS CLB APA LMT ORCL MHK	View
2023 Q3	Sep 30, 2023	Baron Growth Fund	11.1%	7.4%	ACGL, ALTR, ANSYS, BFAM, BIO, CHH, CSGP, DNUT, FDS, FIGS, IDXX, IRDM, IT, KNSL, LFUS, MORN, MSCI, MTD, MTN, NEOG, TREX, VLD, WEST	financials, growth, Long Term, small cap, technology	Management teams are allocating time and capital to develop AI capabilities, with product development roadmaps coming into focus. FactSet Research Systems outlined its vision for AI with multiple product enhancements including conversational user interfaces, next best action capabilities, and AI-derived presentation tools.		View
2024 Q2	Jul 23, 2024	Longleaf Partners Fund	10.4%	10.3%	AMG, BIO, CHTR, CNHI, CNX, FDX, FIS, IAC, K, MAT, MGM, OD, PVH, RTX	Buybacks, Concentration, free cash flow, Logistics, Margins, value	The fund emphasizes trading at low-60s% price-to-value ratio with significant margin of safety. Portfolio companies trade at approximately 10 times free cash flow on margins that can improve, while S&P 500 trades at over 20 times potentially peak free cash flow.	MAT CNHI BIO FDX	View
2024 Q2	Jul 23, 2024	Longleaf Partners Global Fund	14.8%	18.4%	AC.PA, AMG, BIO, CFR.SW, CNX, DHER.DE, ENT.L, ERF.PA, EXOR.MI, FDX, FIS, GLB.L, IAC, K, MAT, MGM, PRX.AS, TIGO, VIV.PA, WBD	Buybacks, Europe, free cash flow, global, Margins, technology, valuation, value	The fund trades at a low-60s% price-to-value ratio with holdings at roughly 10 times free cash flow on margins that can improve, while the FTSE Developed trades at 20 times potentially peak free cash flow. This positions investments for growth even in tougher economic times, especially on a relative basis. The valuation gap between the broader market and the portfolio is at a uniquely high level.	DHER.DE ERF.PA BIO FDX PRX.AS MILL.ST	View
2023 Q2	Jul 18, 2023	Mawer International Equity Fund	6.9%	16.0%	AMZN, BIO, CPG.L, DGX.PA, GOOGL, MSFT, TEP.PA, WAT	AI, Balanced, Canada, global, inflation, Recession, technology	AI advancements are driving market performance for technology companies, with Microsoft, NVIDIA, and others benefiting. However, the full impact remains uncertain and creates both opportunities and risks for different businesses. Management teams that can leverage AI effectively will outperform weaker competitors.		View
2025 Q1	Apr 14, 2025	Parnassus Value Equity Fund	-2.0%	-2.0%	A, ALGN, AMD, AMZN, AVGO, BAC, BIO, CI, DE, GILD, GOOGL, JPM, MA, PGR, ROST, SPG, SPGI, SYY, V, VZ	financials, healthcare, large cap, moats, Quality, technology, uncertainty, value	The fund maintains exposure to AI adoption through cloud and semiconductor companies despite near-term softness. They added Advanced Micro Devices to capitalize on AI accelerator opportunities and the adoption of accelerated computing as AMD's competitive GPUs and CPUs continue to take market share.	JPM AMD	View
2025 Q1	Mar 31, 2025	Ariel Appreciation Fund	-6.9%	-6.9%	AAPL, ADT, AMZN, BIO, GOOGL, GS, KN, MAT, META, MIDD, MSFT, MTN, NCLH, NOV, NVDA, OSW, SLB, TSLA, WBA	Buybacks, mid cap, Recession, Recovery, value, volatility	Fund actively acquiring downtrodden shares of quality companies trading at significant discounts to private market values. Holdings are statistically cheap and trading at meaningful discounts to intrinsic worth. Past dislocations of this magnitude have often served as prelude to robust recoveries.	SLB OSW NCLH KN BIO ADT MIDD MAT	View
2025 Q1	Mar 31, 2025	Ariel Focus Fund	-3.9%	-3.9%	AAPL, AMZN, BIO, CVX, Gold, GOOGL, HES, META, MSFT, NTRS, NVDA, ORCL, REZI, SJM, TSLA	energy, gold, large cap, Recession, technology, value, volatility	The fund is actively leaning into volatility by acquiring downtrodden shares of quality companies whose value should be realized over the long term. Holdings are trading at a significant discount to their private market values, creating attractive buying opportunities for patient investors.	ORCL BIO REZI SJM CVX Gold	View
2025 Q1	Mar 31, 2025	Ariel Fund	-8.0%	-8.0%	AAPL, AMZN, ATGE, BIO, GOOGL, LESL, META, MSFT, NCLH, NVDA, OSW, PARA, RCL, SJM, SPHR, TSLA	Media, Recovery, small caps, Travel, value, volatility	The fund is actively leaning into volatility by acquiring downtrodden shares of quality companies whose value should be realized over the long term. Holdings are trading at a significant discount to their private market values, and dislocations of this magnitude have often served as a prelude to robust recoveries.	OSW NCLH SPHR BIO LESL SJM ATGE PARA	View
2025 Q1	Mar 31, 2025	Ariel Small Cap Value Strategy	-10.7%	-10.7%	AAPL, ADT, AMZN, BIO, FAF, GOOGL, LESL, LIND, META, MIDD, MSFT, NCLH, NVDA, TSLA	discount, Quality, Recession, small caps, value, volatility	The fund focuses on acquiring downtrodden shares of quality companies whose value should be realized over the long term. Holdings are trading at a significant discount to their private market values, creating opportunities for patient investors during market dislocations.	BIO LIND LESL NCLH FAF ADT MIDD	View
2023 Q4	Jan 17, 2024	Longleaf Partners Fund	10.4%	10.3%	AMG, BIO, CNHI, CNX, FBHS, FDX, FFH, FIS, GE, H, IAC, K, LBRDK, LUMN, LYV, MAT, MGM, PVH, RTX, WBD	Buybacks, financials, Logistics, Quality, Travel, value	Fund focuses on Business, People, Price discipline, seeking hidden quality companies trading at discounts. Portfolio differs meaningfully from value indices, with ~50% not found in benchmark indices. Manager believes their differentiated approach positions them well versus Quality at Higher Price strategies and Value ETFs.	^HSI MGM FFH FDX PVH NWBD.L	View
2023 Q4	Jan 17, 2024	Longleaf Partners Global Fund	14.8%	18.4%	AMG, BIO, CNX, DHER.DE, ERF.PA, EXOR.MI, FBHS, FDX, FFH.TO, FIS, GE, K, LUMN, LYV, MAT, MGM, MLCO, PVH, TIGO, WBD	Banking, Buybacks, global, portfolio, Quality, returns, value	Manager emphasizes their differentiated approach to value investing, focusing on Business, People, Price rather than traditional value ETF strategies or quality at higher prices. They believe value is positioned for outperformance in the 2020s similar to previous decades when interest rates normalized.		View
2024 Q4	Jan 16, 2025	Longleaf Partners Fund	-1.3%	8.8%	ACI, AMG, BIO, CNX, DINO, EXO, FBIN, FDX, FFH, FIS, IAC, K, LBRDK, LYV, MAT, MGM, PYPL, RTX, WBD, WMG	Buybacks, energy, Media, Natural Gas, payments, technology, value	Fund operates with high-60s% price-to-value ratio and 10x price/earnings power multiple, dramatically different than the market. Manager emphasizes appraisal-driven research and fundamental analysis to identify undervalued opportunities.		View
2024 Q4	Jan 16, 2025	Longleaf Partners Global Fund	-6.7%	10.5%	0700.HK, 4613.T, AC.PA, ACI, AMG, BIO, CFR.SW, CMCSA, CNX, ENT.L, ERF.PA, EXO.MI, FBIN, FDX, FFH.TO, FIS, H, HFC, IAC, K, LYV, MGM, MLCO, PRX.AS, PVH, RKT.L, TCOM, TIGO, WBD, WMG	Buybacks, global, inflation, Media, Natural Gas, Spin-Offs, Trump, value	Fund trades at low-60s% price-to-value ratio with sub-10x price/earnings power multiple, dramatically different than the market. Manager emphasizes fundamental, appraisal-driven research and finding mispriced value outside of the US at the moment.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Ariel Appreciation Fund	Bio-Rad Laboratories, Inc.	Health Care	Life Sciences Tools & Services	Bull	NYSE	Academic Research, Biotech Tools, Diagnostic Equipment, Healthcare Technology, Laboratory Equipment, life sciences, recurring revenue	View Pitch
Apr 13, 2026	Fund Letters	Ariel Focus Fund	Bio-Rad Laboratories, Inc.	Health Care	Life Sciences Tools & Services	Bull	NYSE	Academic Research, Biological Testing, biopharma, Laboratory Equipment, life sciences, NIH Funding, operating margins, recurring revenue, Research Infrastructure	View Pitch
Apr 13, 2026	Fund Letters	Ariel Fund	Bio-Rad Laboratories Inc.	Health Care	Life Sciences Tools & Services	Bull	NYSE	Biotech, Laboratory Equipment, life sciences, Margins, NIH Funding, recurring revenue, research	View Pitch
Apr 13, 2026	Fund Letters	Ariel Small Cap Value Strategy	Bio-Rad Laboratories Inc.	Health Care	Life Sciences Tools & Services	Bull	NYSE	biotechnology, Clinical Diagnostics, global diversification, Laboratory Equipment, life sciences, market leadership, recurring revenue	View Pitch
Apr 13, 2026	Fund Letters	Longleaf Partners Fund	Bio-Rad Laboratories Inc	Health Care	Life Sciences Tools & Services	Bull	NYSE	capital allocation, diagnostics, government funding, Hidden-Assets, life sciences, net cash, Research Tools, Sartorius Stake	View Pitch
Apr 13, 2026	Fund Letters	Longleaf Partners Global Fund	Bio-Rad Laboratories Inc	Health Care	Life Sciences Tools & Services	Bull	NYSE	capital allocation, diagnostics, government funding, Hidden-Assets, life sciences, net cash, Post-COVID Normalization	View Pitch
Apr 13, 2026	Fund Letters	Longleaf Partners Fund	Bio-Rad Laboratories Inc	Health Care	Life Sciences Tools & Services	Bull	NYSE	diagnostics, life sciences, margin expansion, post-COVID recovery, Research Tools, Sartorius, share repurchases	View Pitch
Apr 13, 2026	Fund Letters	Longleaf Partners Global Fund	Bio-Rad Laboratories, Inc.	Health Care	Life Sciences Tools & Services	Bull	NYSE	contrarian, Growth Recovery, life sciences, margin expansion, Peer Discount, post-COVID recovery, Sartorius Stake, Share Buybacks	View Pitch
Apr 13, 2026	Fund Letters	Ariel Appreciation Fund	Bio-Rad Laboratories Inc.	Health Care	Life Sciences Tools & Services	Bull	NYSE	Biological Testing, Bull, Dominant Market Share, global diversification, Laboratory Equipment, life sciences, recurring revenue	View Pitch
Apr 13, 2026	Fund Letters	Ariel Fund	Bio-Rad Laboratories Inc.	Health Care	Life Sciences Tools & Services	Bull	NYSE	diagnostics, global diversification, healthcare, Laboratory Equipment, life sciences, market leadership, recurring revenue	View Pitch
Apr 13, 2026	Fund Letters	Ariel Focus Fund	Bio-Rad Laboratories Inc.	Health Care	Life Sciences Tools & Services	Bull	NYSE	Clinical Diagnostics, global diversification, healthcare, innovation, Laboratory Equipment, life sciences, market dominance, recurring revenue	View Pitch
Jan 23, 2026	Fund Letters	Rich Eisinger	Bio-Techne Corporation	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	leadership, lifesciences, Reagents, Recurringrevenue, valuation	View Pitch
Jan 20, 2026	Fund Letters	Ross Glotzbach	Bio-Rad Laboratories, Inc.	Health Care	Life Sciences Tools & Services	Bull	New York Stock Exchange	buybacks, Freecashflow, lifesciences, research	View Pitch
Jan 15, 2026	Fund Letters	James Fellows	Bio-Rad Laboratories, Inc.	Health Care	Life Sciences Tools & Services	Bull	New York Stock Exchange	diagnostics, Governance, healthcare, lifesciences, Recurringrevenue	View Pitch
Nov 29, 2025	Fund Letters	Ross Glotzbach	Bio-Rad Laboratories, Inc.	Health Care	Life Sciences Tools & Services	Bull	NYSE	buybacks, life sciences, Margins, net cash, Optionality, recovery, Sartorius	View Pitch

BSD Shareholders of BIO

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

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.

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Letters With This Ticker

Pitches With This Ticker

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