BMY

BMY

BMY

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q4	Jan 18, 2026	Distillate Capital Fundamental Stability & Value	0.0%	0.0%	BMY, CAH, CSCO, ELV, FFIV, FI, GPS, HCA, JBHT, JNJ, LOW, MO, MPC, MRK, REGN, TDC, TEL, TMUS, UBER, VST	free cash flow, fundamentals, international, Quality, rebalancing, small caps, valuation, value	The firm emphasizes systematic value investing through their proprietary free cash flow valuation methodology. They focus on stocks trading at attractive valuations while avoiding richly valued names, with their U.S. FSV strategy trading at more than double the free cash flow yield of the S&P 500. The strategy systematically rotates out of names that have increased in value and reinvests into less expensive stocks. The firm filters for high quality companies with stable cash flows and low debt levels. Their investment process excludes negative free cash flow companies and avoids those with high amounts of leverage while seeking fundamental stability. This quality focus has historically been smart but was a drag on returns in 2025 as unprofitable stocks outperformed significantly. The firm sees significant opportunity in small and mid-sized U.S. stocks, though selectivity is critical given the large number of unprofitable and heavily-indebted companies. Their small/mid strategy filters out negative free cash flow companies and high leverage names. The S&P 600 excludes many troubled names and has considerably outperformed the Russell 2000 over time.		View
2025 Q4	Jan 18, 2026	Distillate Capital Small/Mid Cap Quality & Value	0.0%	0.0%	BMY, CAH, CSCO, ELV, FFIV, FI, GPS, HCA, JBHT, JNJ, LOW, MO, MPC, MRK, REGN, TDC, TEL, TMUS, UBER, VST	free cash flow, fundamentals, Quality, rebalancing, small cap, valuation, value	The letter extensively discusses valuation concerns across markets, highlighting that U.S. equities are historically expensive and trading at levels typically associated with subdued future returns. The firm's strategies focus on finding attractively valued stocks where quality and value overlap, with their portfolios trading at significant discounts to benchmarks. Quality is a core focus of the firm's investment process, emphasizing cash flow stability and avoiding highly leveraged or unprofitable companies. The letter discusses how their strategies systematically filter out negative free cash flow companies and those with high debt levels while seeking fundamental stability. The letter identifies significant opportunities in small and mid-sized U.S. stocks, noting that avoiding high debt levels and money-losing businesses has historically been smart but was a drag on returns in 2025. The firm sees this as creating attractive entry points for quality small cap investing.		View
2025 Q4	Jan 18, 2026	Distillate Capital Large Cap Value	0.0%	8.6%	000660.KS, 005930.KS, BMY, CAH, CSCO, ELV, FFIV, FI, HCA, JBHT, JNJ, LOW, MO, MPC, MRK, REGN, TEL, TMUS, UBER, VST	FCF, fundamentals, international, Quality, rebalancing, small caps, valuation, value	U.S. equities are historically expensive by any measure and at levels typically associated with subdued future returns. The S&P 500 is trading near record multiples with just 20 stocks accounting for over 50% of the market at a 120% premium to the rest. Historical analysis shows that rich starting valuations correlate with lower longer-term returns. Despite rich overall market valuations, many high quality stocks remain attractively valued. The firm's large cap strategy trades at a free cash flow yield more than double the S&P 500 and 60% above Russell 1000 Value. Value stocks significantly outperformed after the 2000 tech bubble when similar valuation disparities existed. Significant opportunities exist in smaller stocks where avoiding high debt levels and money-losing businesses has historically been smart but was an enormous drag on returns in 2025. Negative free cash flow stocks comprised 35% of Russell 2000 and rose 67% on average, demonstrating unusual market conditions.		View
2025 Q4	Jan 18, 2026	Ariel Global Fund	2.9%	23.3%	000660.KS, 1024.HK, 4751.T, 6367.T, 6460.T, 6762.T, 6856.T, 7832.T, BIRG.L, BMPS.MI, BMY, FME.DE, FORTUM.HE, FSLR, HPE, LREN3.SA, SAN, T, WBS, WCH.DE	AI, Banking, Data centers, Energy Transition, global, international, semiconductors, value	The fund sees strong opportunities in semiconductor equipment and memory companies. Lasertec is positioned for growth as it transitions toward high-volume manufacturing with its new APMI tool for EUV processes. SK Hynix benefits from accelerating AI inference demand for high-bandwidth memory and NAND solutions, maintaining a commanding lead with Nvidia. European banking presents compelling opportunities through consolidation and operational improvements. BMPS transformed into Italy's third-largest bank through Mediobanca acquisition, while Santander offers efficiency gains and stronger profitability through streamlined operations. Bank of Ireland provides upside through cost restructuring and strategic decisions. Solar and renewable energy infrastructure offer attractive growth prospects. First Solar's new U.S. facility aims to reduce tariff costs and capture domestic tax incentives in an increasingly tight utility-scale solar market. Fortum provides exposure to data center power demand through above-market purchase agreements in the Nordic region. Artificial intelligence drives demand across multiple sectors from memory semiconductors to content platforms. SK Hynix benefits from AI inference workloads requiring high-bandwidth memory, while Kuaishou leverages AI-driven video tools to enhance content recommendation and advertising targeting capabilities. Growing data center demand creates opportunities in power and infrastructure. Fortum is positioned for upward earnings revisions through power purchase agreements with data center operators in the Nordic region, benefiting from low-cost power and favorable climate conditions.	ES WBS WCH GR 1024 HK 6367 JP 4751 JP BMY T 000660 KS 6920 JP FSLR	View
2023 Q4	Feb 26, 2024	Aristotle Core Equity Fund	2.9%	21.3%	0YXG LN, BDX, BMY, HAL, LLY, PEP, SPR, VRTX	-			View
2023 Q4	Feb 26, 2024	Aristotle Atlantic Core Equity Strategy	3.1%	21.7%	0YXG LN, BDX, BMY, HAL, LLY, PEP, SPR, VRTX	-			View
2023 Q4	Jan 31, 2024	Ariel Global Fund	6.9%	0.0%	BIDU, BMY, CNH, DSN0 GR, FUH0 GR, INTC, KB, O2D GR, TFC, VZ, WIZZ LN	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 25, 2026	Seeking Alpha	Seeking Alpha	Bristol-Myers Squibb Company	Pharmaceuticals	Biopharmaceuticals	Neutral	New York Stock Exchange	biopharmaceuticals, Bristol-Myers Squibb, CAR-T expansion, CELMoDs, Dividend coverage, Eliquis patent cliff, execution risks, growth portfolio, legacy erosion, Valuation reset	View Pitch
Jan 20, 2026	Fund Letters	Rupal J. Bhansali	Bristol-Myers Squibb Company	Health Care	Pharmaceuticals	Bull	New York Stock Exchange	dividends, Oncology, pharma, pipeline, valuation	View Pitch
Nov 4, 2025	Seeking Alpha	Seeking Alpha	Bristol-Myers Squibb Company		Drug Manufacturers - General	Bull		Breyanzi, Bristol-Myers Squibb, Camzyos, CAR T-cell therapy, growth portfolio, Hematology, innovation, Orbital Therapeutics, pharmaceuticals, Reblozyl	View Pitch
Aug 13, 2025	Seeking Alpha	Gen Alpha	Bristol Myers Squibb	Health Care	Drug Manufacturers - General	Bull	NYSE	—	View Pitch
Aug 8, 2025	Seeking Alpha	Endurance Investing	Bristol Myers Squibb	Health Care	Drug Manufacturers - General	Bull	NYSE	—	View Pitch

BSD Shareholders of BMY

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.

Join for free and get access to the buyside

Get insights from the world's most influential hedge fund investors direct to your inbox

Follow Us On: