CCSI

CCSI

CCSI

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q1	Apr 30, 2025	Summers Value Fund	-11.2%	-11.2%	ADMA, CCSI	-			View
2024 Q1	Apr 15, 2024	Meridian Small Cap Growth Fund	6.2%	0.0%	BYRN, CCSI, FORR, NGNE, QDEL, SG	-			View
2025 Q3	Oct 24, 2025	Meridian Small Cap Growth Fund	4.2%	-	ALIT, CCSI, KEX, SPT, TPB, ZBIO	capital goods, healthcare, semiconductors, small caps, valuation	A quality-biased, lower-beta process lagged a speculative, momentum-led rally; managers avoided expensive capital-goods and speculative semis despite a powerful AI buildout. Healthcare overweight and underweights in capital goods hurt, but stock selection in consumer, comm services, and financials helped. They remain disciplined on durable growth at reasonable valuations.	CCSI ZENAS TPB KEX SPT ALIT ZD HALO MDGL ALGN SPT CCSI KEX SPT	View
2025 Q4	Jan 21, 2026	Meridian Small Cap Growth Fund	0.9%	0.0%	ALKT, AMPL, AXGN, CCSI, CDNA, CERT, GPCR, KEX, RELY, TPB, VCYT, VNOM, ZNAS	Biotechnology, growth, healthcare, Quality, small caps, technology, value	Healthcare was the portfolio's largest allocation and top-performing sector for the quarter. The manager continues to view the sector as undervalued relative to long-term fundamentals, noting it has lagged the broader market over the last four years. Multiple biotech holdings contributed positively, including Structure Therapeutics with promising obesity therapy trials, Axogen with peripheral nerve regeneration technology, and Zenas BioPharma with autoimmune disease treatments in Phase 3 trials. The fund emphasizes investing in high-quality businesses with recurring revenue, sustainable competitive advantages, strong balance sheets, and clear visibility into sustainable earnings growth. This quality bias created a modest headwind during the quarter as lower-quality stocks outperformed.	ZBIO AXGN GPCR RELY CERT CCSI EXAS TNDM GMED RELY DOCS CERT	View
2025 Q4	Jan 12, 2026	Summers Value Fund	1.7%	6.7%	CCSI, DPLO, ELMD, ENDP, NVO	concentrated, healthcare, long-term, small caps, special situations, value	Fund focuses exclusively on healthcare sector with concentrated portfolio of small-cap companies. Investment approach targets special situations within healthcare including spin-offs, asset sales, business model pivots, and new product launches. Portfolio includes pharmaceutical, medical device, biotechnology, and healthcare IT companies. Fund employs fundamental value-oriented approach with focus on margin of safety and intrinsic value calculations. Seeks companies trading at discounts to long-term intrinsic value using cash flow yield or asset value methodologies. Emphasizes downside protection relative to estimate of intrinsic value. Concentrated portfolio of small-cap companies with limited sell-side coverage and institutional ownership. Invests where most institutional managers cannot or will not participate, allowing for asymmetric return potential. 44% of Russell 2000 stocks have zero Wall Street coverage, creating mispriced opportunities.	CCSI	View
2025 Q4	Jan 12, 2026	Summers Value Fund	1.7%	6.7%	CCSI, DPLO, ELMD, ENDP, NVO	concentrated, healthcare, long-term, small caps, special situations, value	Fund focuses exclusively on healthcare sector with concentrated portfolio of small-cap companies. Investment approach targets special situations within healthcare including spin-offs, asset sales, business model pivots, and new product launches. Portfolio includes pharmaceutical, medical device, biotechnology, and healthcare IT companies. Fund employs fundamental value-oriented approach with focus on margin of safety and intrinsic value calculations. Seeks companies trading at discounts to long-term intrinsic value using cash flow yield or asset value methodologies. Emphasizes downside protection relative to estimate of intrinsic value. Concentrated portfolio of small-cap companies with limited sell-side coverage and institutional ownership. Invests where most institutional managers cannot or will not participate, allowing for asymmetric return potential. 44% of Russell 2000 stocks have zero Wall Street coverage, creating mispriced opportunities.		View
2023 Q2	Aug 22, 2023	First Eagle Investments	0.0%	0.0%	CCL, CCSI, CNC, MERC, PFC, PRAA, UNFI	-			View
2023 Q1	Mar 31, 2023	Meridian Growth Fund	6.8%	0.0%	ACVA, ARVN, CCCC, CCSI, FTDR, ST	-			View
2023 Q1	Mar 31, 2023	Meridian Small Cap Growth Fund	6.2%	0.0%	ACVA, ALBO, CCSI, FTDR, HDSN, PMVP	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 27, 2026	Fund Letters	Andrew Summers	Consensus Cloud Solutions Inc.	Information Technology	Application Software	Bull	NASDAQ	buybacks, deleveraging, Healthcareit, rerating, spin-off	View Pitch
Jan 24, 2026	Fund Letters	Chad Meade	Consensus Cloud Solutions, Inc.	Information Technology	Application Software	Bear	NASDAQ	cashflow, Cloudsoftware, Healthcareit, Recurringrevenue, valuation	View Pitch
Nov 29, 2025	Fund Letters	Chad Meade	Consensus Cloud Solutions Inc.	Information Technology	Software	Bull	NASDAQ	acquisition, FCF, healthcare, Margins, recurring revenue, Software, turnaround, valuation	View Pitch
Nov 29, 2025	Fund Letters	Chad Meade	Consensus Cloud Solutions Inc.	Information Technology	Software	Bull	NASDAQ	acquisition, FCF, healthcare, Margins, recurring revenue, Software, turnaround, valuation	View Pitch

BSD Shareholders of CCSI

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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