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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 23, 2025 | Aristotle Atlantic Core Equity Strategy | 14.3% | 7.5% | AVGO, BDX, CB, EXPE, ORCL, ZTS | Discipline, earnings growth, fundamentals, Pricing Power, Quality | The letter emphasizes strong corporate fundamentals despite macro uncertainty. Management focuses on high-quality businesses with pricing power, earnings durability, and secular tailwinds. The outlook remains constructive but valuation-aware following the market rebound. | ZTS EXPE CB BDX AVGO ORCL |
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| 2025 Q2 | Jul 20, 2025 | The London Company Income Equity | 4.5% | 9.1% | 7974 JP, AAPL, APD, CB, MSFT, PGR, PM, UPS | dividends, income, low volatility, Quality, shareholder yield | The letter focuses on high-quality, low-volatility equity income positioned to perform through macro uncertainty. Dividend yield, balance sheet strength, and pricing power are emphasized as defenses against policy and economic risk. Shareholder yield is expected to drive a significant portion of returns. | CB APD PM MSFT |
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| 2025 Q2 | Jul 19, 2025 | Aristotle Core Equity Fund | 14.3% | 7.5% | AVGO, BDX, CB, EXPE, ORCL, ZTS | AI, earnings, fundamentals, growth, security selection | The letter highlights security selection as the primary driver of outperformance in a growth-led market. Management favors companies benefiting from AI, cloud infrastructure, and product cycles while managing valuation risk. The outlook supports selective growth exposure with fundamental backing. | ZTS EXPE CB BDX AVGO ORCL |
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| 2024 Q3 | Oct 2, 2024 | The London Company Large Cap | 8.1% | 14.6% | BLK, CB, CSCO, FDX, FI, GOOG, ORLY, PGR, SCHW, TEL | - | View | ||
| 2025 Q4 | Jan 27, 2026 | Diamond Hill Large Cap Strategy | 1.4% | 5.7% | AIG, AON, BRK-B, CAT, CB, CL, COF, COO, DOV, EQT, GM, GOOGL, HCA, HIG, LH, MU, NDAQ, SOLV, SYY, WIX, ZTS | AI, Defensive, financials, healthcare, large cap, Quality, technology, value | The fund remains cautious of AI-driven market exuberance where investor sentiment often appears to outpace business fundamentals. AI optimism drove strong performance in information technology and communication services sectors, with hundreds of billions in AI-related capital spending supporting stocks like Micron and Sandisk. The fund continues to find attractive opportunities among high-quality, cash-generative businesses with defensive characteristics including Colgate, Aon and Berkshire Hathaway. These fundamentally stable businesses underperformed in 2025 but continue to perform in-line with expectations. The portfolio focuses on fundamentally stable, higher quality businesses trading at discounts to intrinsic value estimates. New positions like Dover Corp were initiated when stocks traded at significant discounts to estimated intrinsic value. | EQT SOLV WIX DOV COO SYY LH ZTS COF AIG GM |
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| 2025 Q4 | Jan 26, 2026 | Davis Financial Fund | 0.0% | 29.3% | AXP, BAER.SW, BK, BRK-A, CB, COF, D05.SI, DIS, FI, FITB, JPM, MKL, PNC, RE, RKT, RNR, USB, WFC | Banking, capital, financials, insurance, regulation, returns, value | Banks continue to represent the majority of holdings with strong tailwinds across credit, spreads, expenses, and regulation. Interest spreads have begun widening as fixed rate assets roll over at higher yields, revealing attractive economics of low-cost deposit franchises. Many banks are generating returns on tangible equity in the mid-to-high teens with management targets suggesting sustainability in the medium term. Capital markets firms were among the drivers of S&P Financials Index performance and contributed to fund outperformance. The regulatory environment has been moving in a favorable direction with capital rules being finalized that are far less onerous than under the prior administration. Regulators are more willing to consider M&A transactions with relief on certain supervisory limitations. Property & casualty reinsurers were added to the portfolio as capital was redeployed from trimmed bank positions. Pricing trends in insurance markets have been strong in recent years. Chubb has consistently generated returns on equity comfortably ahead of the industry owing to advantaged lines of business with disciplined underwriting and operating culture. Payments and consumer lending companies were the biggest contributors to relative performance including Capital One, American Express and Rocket Companies. Capital One's transformational acquisition of Discover Financial closed with anticipated annual cost synergies of $1.5 billion and network synergies of $1.2 billion from transitioning card volumes into Discover's networks. Financial stock valuations have begun to reset higher with price-to-tangible book value multiples expanding by over 70% on average in the past three years. The portfolio in aggregate is valued at approximately 13x this year's earnings, representing a significant discount to both the broader S&P 500 Index and S&P Financials Index. | CB WFC COF |
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| 2025 Q4 | Jan 21, 2026 | Meridian Hedged Equity Fund | 0.1% | 0.0% | ABNB, AMZN, CB, DHI, DHR, DKNG, GEO, LNG, LW, LYV, MGM, MTCH, VST, YOU | energy, gaming, Hedged Equity, Homebuilders, Options, Travel, value | The fund holds positions in gaming companies including MGM Resorts International and DraftKings. MGM benefited from record results in Macau properties and BetMGM achieving profitability. DraftKings faced near-term pressures from earnings shortfalls and competitive pressures but maintains long-term earnings potential. The fund maintains exposure to energy companies including Vistra Corp and Cheniere Energy. Vistra is positioned to benefit from surging electricity demand driven by data centers and electrification trends, operating attractive nuclear and natural gas generation assets in tight power markets. The fund has exposure to travel-related companies including MGM Resorts and Clear Secure. Clear Secure provides biometric identity solutions for travelers and benefited from robust travel demand and operational efficiency during the quarter. The fund holds D.R. Horton as a top position, representing exposure to the homebuilding sector. The company is positioned in the residential construction market. | YOU DHR MGM VST DKNG LW |
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| 2025 Q4 | Jan 21, 2026 | The London Company Large Cap | 0.2% | 8.3% | BLK, CB, FDX, FI, GOOG, NEU, NSC, RSG | dividends, financials, healthcare, large cap, Quality, technology, value | The manager emphasizes investing in profitable, financially stable, quality large-cap companies with high returns on unleveraged operating capital, strong cash generation, and conservative leverage. Quality factors were headwinds during Q4 as volatility factors outperformed, but the manager believes the environment is becoming more conducive to fundamentals where earnings growth, dividends, and balance-sheet strength matter more than valuation multiple expansion. Value outperformed Growth across the market cap spectrum during Q4, with value factors being the primary driver of returns, led by stocks trading at lower prices relative to sales and book value. The manager sees growing value in true active share and diversified exposure to high-quality businesses in a market defined by elevated valuations and concentration risk. The manager focuses on companies with strong capital allocation and dividend-paying capabilities. Several portfolio holdings like Chubb and BlackRock are highlighted for their steady capital returns and aggressive buyback programs, reinforcing the emphasis on shareholder-oriented management and consistent dividend policies. | RSG NSC BLK NEU FI CB FDX GOOG |
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| 2025 Q4 | Jan 14, 2026 | Wedgewood Partners | -1.8% | 4.3% | AAPL, AMZN, BKNG, CB, CDW, CPRT, EW, GOOGL, META, MSI, ODFL, ORLY, POOL, PYPL, SPGI, TSCO, TSM, UNH, URI, V | AI, growth, large cap, Portfolio Management, Quality, technology, valuation | AI continues to drive significant revenue growth across portfolio companies. Google Cloud processes 1.3 quadrillion AI tokens per month, more than double from just a few quarters ago. Meta has been using AI tools for over a decade to manage their massive network, with their Andromeda machine learning system automatically retrieving and ranking tens of millions of potential ads based on user preferences. Taiwan Semiconductor Manufacturing continues to execute flawlessly on leading-edge node progression and capacity build-out, enabling the AI era by manufacturing nearly every compute accelerator including GPUs. The company's advanced nodes allow accelerator designers greater flexibility to increase performance while limiting power requirements in an increasingly power-constrained compute infrastructure industry. Google Cloud segment revenue and backlog growth accelerated, driven by AI workloads. Amazon's AWS has fostered some of the largest businesses in the world over the past 20 years, with revenue growth accelerating to over 20% as the company deployed almost 4 gigawatts of capacity for AI-workloads over the past 12 months. The manager expresses significant concern about excessive market valuations, noting that more than 30% of US market capitalization now trades above 10x sales, reminiscent of the tech bubble. The crowded AI trade and historically rich valuations are described as haunting prudent investing, with even most non-Magnificent Seven stocks failing to offer bargains. The manager has trafficked in quality stocks for more than 33 years, an approach that has served clients well since 1992 but did not work in 2025. The portfolio's fundamentals, prospective earnings growth rates, profitability measures, and balance sheet strength are notably superior to the S&P 500 Index and on par with the Russell 1000 Growth Index. | PYPL TSCO URI MSI META EW ODFL AAPL TSM GOOG CB AMZN |
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| 2025 Q4 | Jan 14, 2026 | Emerald Wealth Partners – Focused Equity Strategy | 2.1% | 13.2% | 1179.HK, 8035.T, AHT.L, AMAT, AMZN, ASML, AVGO, BLK, CB, CSU.TO, DE, DEO, GOOGL, LMT, LSEG.L, MSFT, NOW, ORCL, SHEL, TMO | AI, China, Quality, semiconductors, technology, Trade Policy, value | AI dominated 2025 with massive data center investment announcements including OpenAI's $300 billion commitment and Meta's five-gigawatt Hyperion data center. The manager sees AI driving demand for semiconductor tools and custom chips, positioning companies like Applied Materials, ASML, and Broadcom to benefit from the infrastructure buildout. Semiconductor companies were top performers with Applied Materials up 59.6% and ASML up 55.8%. The manager emphasizes the bright prospects for chip design tools given silicon requirements for AI deployment, while also initiating Broadcom for its custom chip capabilities serving cloud hyperscalers. Trump announced the highest tariffs since the 1930s, with effective rates settling around 17% after negotiations. This triggered initial market corrections but companies adapted by flexing supply chains, with macroeconomic consequences remaining benign on inflation and GDP fronts. China had a strong year with the Hang Seng up 32% as investors warmed to signals that regulatory tightening was over. Chinese tech companies demonstrated ability to deploy AI efficiently at lower costs despite GPU restrictions, while valuations became attractive after years of consolidation. The manager focuses on high-quality compounders trading at discounts after being left out of the AI rally. They target companies generating strong free cash flow with high ROIC that can redeploy capital effectively, finding opportunities in unloved sectors and geographies like Swiss stocks at multi-year valuation lows. | View | |
| 2023 Q3 | Sep 30, 2023 | Aristotle Atlantic Core Equity Strategy | 3.1% | 21.7% | CB, DG, HAL, META, ORCL, SPR | - | View | ||
| 2024 Q2 | Jun 30, 2024 | American Century Equity Income Fund | 9.6% | 0.0% | ADI, CB, INTC, KVUE, MCHP, MDT, NSC, RHO GR, TXN, ULVR | - | View | ||
| 2022 Q1 | Mar 30, 2022 | Aristotle/Saul Global Equity Fund | 6.4% | 11.6% | AXTA, BAC, BN, CB, CCJ, DLB, FMC, LEN, WBA | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 30, 2026 | Fund Letters | Chris Davis | Chubb Ltd | Financials | Property & Casualty Insurance | Bull | New York Stock Exchange | Defensiveness, Insurance, Pricing power, ROE, underwriting | View Pitch |
| Jan 27, 2026 | Fund Letters | Brian Campbell | Chubb Limited | Financials | Property & Casualty Insurance | Bull | New York Stock Exchange | capital returns, combined ratio, Defensiveness, Insurance, underwriting | View Pitch |
| Jan 16, 2026 | Fund Letters | David A. Rolfe | Chubb Limited | Financials | Property & Casualty Insurance | Bull | New York Stock Exchange | compounding, Insurance, premiums, profitability, underwriting | View Pitch |
| Jan 8, 2026 | Fund Letters | Brian Campbell | Chubb Limited | Financials | Property & Casualty Insurance | Bull | New York Stock Exchange | Book Value, diversification, Expense Control, Insurance, underwriting | View Pitch |
| Dec 3, 2025 | Fund Letters | Owen Fitzpatrick | Chubb Limited | Financials | Property & Casualty Insurance | Bear | NYSE | Capital, Insurance, Margins, premiums, Pricing, Rotation, underwriting, valuation | View Pitch |
| Dec 3, 2025 | Fund Letters | Owen Fitzpatrick | Chubb Limited | Financials | Property & Casualty Insurance | Bear | NYSE | Capital, Insurance, Margins, premiums, Pricing, Rotation, underwriting, valuation | 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. | ||||||||