CGNX

CGNX

CGNX

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q3	Sep 30, 2025	WS Amati Global Innovation Fund	-	-	CGNX, CHG LN, DXCM, GLBE, GLOB, LITE, PI, PRCT, RGEN, TLX AU	disruption, growth, innovation, productivity, technology	The fund emphasizes innovation-driven growth across technology, healthcare, and emerging business models. The letter highlights long-term structural change while acknowledging near-term volatility and valuation dispersion. Innovation remains an investable theme as productivity gains and technological adoption reshape industries.		View
2025 Q2	Jul 18, 2025	Mairs & Power – Small Cap Fund	-	-8.3%	AZEK, CGNX, HUBG, NEOG, RDNT, TECH, WK	fundamentals, Mean reversion, small caps, Valuation gap, volatility	The fund emphasizes the long-term opportunity in undervalued small-cap companies amid valuation dispersion. Management notes that fundamentals remain intact despite near-term macro and rate headwinds. Small caps are positioned as a fertile area for future mean reversion.		View
2025 Q1	May 1, 2025	Mairs & Power – Small Cap Fund	-11.0%	-11.0%	AZEK, CASY, CGNX, HUBG, LFUS, NEW	-			View
2025 Q4	Feb 5, 2026	Baron Small Cap Fund	-1.6%	-0.7%	CGNX, CWA, FROG, GWRE, HLI, ICLR, IT, JBT, KNSL, KTOS, MTD, NEPT, NOVT, ODD, PLNT, RBC, RRR, SITE, TDG, VRT	AI, Data centers, defense, growth, Quality, small caps, technology	AI infrastructure buildout drove strong performance in holdings like Vertiv and Legence. JFrog benefited as customers leveraged generative AI to improve developer productivity, driving increased binary creation and platform usage. The manager expects corporations to show continued productivity gains as AI is adopted to reduce costs and open new revenue opportunities. Data center activity was a key driver for several holdings. Vertiv Holdings benefited from robust data center infrastructure demand with 29% organic revenue growth. Legence Corp, an engineering and maintenance services company, was a strong contributor due to robust data center activity. Aerospace and defense players were among the best performers in 2025, including Kratos Defense & Security Solutions, Karman Holdings, and RBC Bearings. The manager notes heightened aerospace and defense spending and improving margins in this sector. The manager expects small-cap companies to grow faster than large caps going forward, which is not typical of recent years. Better growth ahead for small caps could lead to market broadening and leadership change. Small caps have historically grown more slowly than large caps, contributing to extended underperformance.		View
2025 Q3	Dec 31, 2025	AMG Frontier Small Cap Growth Fund	7.5%	4.8%	ALGT, CGNX, COHR, EOLS, INSP, LTH, MAT, RARE, RNST, SIMO, U	AI Infrastructure, earnings recovery, Interest Rate Sensitivity, Semiconductor Exposure, Small Cap Growth	The letter discusses a strong rebound in U.S. small caps alongside continued economic growth and easing monetary policy expectations. Performance was driven by selective exposure to technology, semiconductors, and AI-related infrastructure, while healthcare and consumer discretionary detracted due to idiosyncratic risks. The manager expects falling interest rates, improving employment, and capital expenditure tailwinds to support a multi-year recovery in small-cap earnings.		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
2023 Q4	Dec 31, 2023	Conestoga Mid Cap Composite	8.4%	9.4%	ALGN, ANSS, CGNX, CPRT, FTNT, IDXX, IT, MTN, ROL, VEEV, WST	-			View
2025 Q3	Oct 24, 2025	Mairs & Power – Growth Fund	8.0%	10.1%	CGNX, JPM, PANW, UNH	AI, Cloud, cybersecurity, Machine Vision, semiconductors	The portfolio participates in AIs secular adoption while trimming exuberant names; additions in machine vision and cybersecurity target durable, compounding growth. Managers stress that leadership must broaden beyond mega-cap AI and see opportunities in housing recovery and select smaller caps. Stock selection (e.g., TSMC strength, UNH rebound) offset drags from non-AI areas.		View
2024 Q3	Oct 23, 2024	Conestoga SMid Cap Composite	12.9%	12.1%	ALTR, AXON, CGNX, EXPO, FIVN, FSV, GWRE, MSA, ROAD, TREX, WST	-			View
2025 Q3	Oct 21, 2025	Artisan Partners Small Cap Fund	8.7%	4.8%	4350 JP, ALAB, ASND, CGNX, CWAN, IBP, INSM, LOAR, LSCC, MDGL, MOD, MTSI, SN, WAY, WING	AI, Biotech, Health Care, industrials, small caps	The fund posted strong absolute but weaker relative returns as speculative small-cap stocks led markets. Managers emphasized profit-cycle investing, focusing on companies with durable growth such as Modine, Lattice Semiconductor, and Insmed. Key themes include AI-related infrastructure, biotech innovation, and cyclical recovery in housing and industrials.	OLLI CGNX MTSI TWST INSM MOD LSCC OLLI CGNX MTSI TWST INSM MOD LSCC	View
2025 Q4	Jan 22, 2026	WS Amati Global Innovation Fund	0.0%	0.0%	000660.KS, 005930.KS, 2327.TW, 4544.T, CGNX, CHG.L, FN, LITE, LLY, PTC	AI, defense, global, innovation, Pharmaceuticals, Photonics, semiconductors, technology	AI continued to dominate investor debate with impressive deals between OpenAI and semiconductor vendors, though circular nature of agreements reminiscent of dot com excesses gave some pause. Overall sentiment around AI capex cycle remained buoyant despite some financially fragile players seeing share price drops. Memory semiconductors emerged as key AI beneficiaries with Korean chipmakers Samsung Electronics and SK Hynix contributing strongly to performance. Samsung fixed technical challenges with high bandwidth memory products to fully participate in AI growth. Eli Lilly strengthened its position as leader in obesity and diabetes medication category with injectable GLP1 products outperforming Novo Nordisk clinically and commercially. Newly approved oral GLP1 promises to unlock large incremental market opportunity. Defense stocks experienced broad sell-off due to concerns about UK defense funding and potential Russia/Ukraine war resolution. Despite near-term headwinds, long-term growth opportunities remain for defense technology companies like Chemring in energetics and electronic warfare. Clinical practice in Alzheimer's diagnostics is moving to blood tests as cheaper, less intrusive but equally precise option. H.U. Group has strong first mover advantage in blood-based biomarkers for Alzheimer's disease testing with multi-fold growth in past year.	4544 JP FN LLY 000660 KS 005930 KS LITE PTC CHG LN CGNX	View
2024 Q3	Sep 30, 2024	Impax Global Environmental Markets Fund	7.9%	14.0%	A, AMAT, ASML, CARR, CGNX, PNR	-			View
2023 Q3	Sep 30, 2023	Baron Small Cap Fund	9.6%	14.5%	AZPN, CGNX, DRVN, FFO GR, GWRE, INDI, KNSL, LBRDA, VRT	-			View
2022 Q2	Jun 30, 2022	Baron Small Cap Fund	9.6%	14.5%	ASGN, CGNX, COLD, DRVN, GDYN, GTLS, IT, SHLS, SPT	-			View
2024 Q4	Jan 14, 2025	Liberty Park Capital Management	5.9%	8.6%	CGNX, GTLS, HQI, INOD, INOQ, LWLG, MOD, NVEE, SOUN, THRY, UPWK, XMTR, YOU	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 24, 2026	Fund Letters	Graeme Bencke	Cognex Corporation	Information Technology	Electronic Equipment & Instruments	Bull	NASDAQ	AI, Automation, Industrialcapex, Machinevision, robotics	View Pitch
Nov 29, 2025	Fund Letters	Craigh Cepukenas	Cognex Corp.	Information Technology	Electronic Equipment, Instruments & Components	Bull	NASDAQ	AI enablement, Automation, Cost Reduction, Cycle recovery, Machine vision, Sme adoption	View Pitch
Nov 29, 2025	Fund Letters	Craigh Cepukenas	Cognex Corp.	Information Technology	Electronic Equipment, Instruments & Components	Bull	NASDAQ	AI enablement, Automation, Cost Reduction, Cycle recovery, Machine vision, Sme adoption	View Pitch

BSD Shareholders of CGNX

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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