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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Jul 17, 2024 | EdgePoint Global | - | - | AAL, ACQ.TO, BBWI, CC, CNK, CWK, CZR, DISH, FDC, FTR, HCA, MTL.TO, O-I, OR.TO, PHII, PRM, PSD.TO, SMG, TEVA, WDC | active management, Benchmarks, credit, fixed income, portfolio construction, risk management | Manager argues that using indexes as benchmarks creates perverse incentives similar to Goodhart's Law, where the measure becomes the target and ceases to be a good measure. Fixed income indexes weight companies by debt issuance size, meaning the most indebted companies get the largest weights, which is counterintuitive for credit investing. | View | |
| 2024 Q3 | Oct 16, 2024 | Third Point Partners | 3.9% | 14.0% | AAP, AMZN, BBWI, CNK, DHR, DSV.CO, FYBR, GOOGL, INTC, KBH, LUMN, MSFT, PCG, VST, VZ | credit, Entertainment, Event-Driven, Logistics, Mortgage, Politics, value | DSV emerged as the leading bidder for DB Schenker, creating the largest freight forwarder with significant synergy potential. The company has a proven track record of consolidating the fragmented global freight forwarding industry with industry-leading margins. Rising complexity in global supply chains benefits DSV's unique network that guarantees capacity and on-time deliveries. | CNK DSV.CO |
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| 2025 Q4 | Jan 14, 2026 | Riverwater Sustainable Value Strategy | 0.0% | 0.0% | ADEA, CIEN, CNK, DGX, EXEL, HAE, JLL, LMNR, LOPE, MDU, SNV, TGLS | AI, Banking, Quality, semiconductors, small caps, technology, value | The manager emphasizes focus on quality factors including profitability, strong returns on capital, solid balance sheets, and attractive valuations. Notes this has been one of the most challenging environments for quality-focused investors, with quality factors underperforming similar to the internet bubble period of 1999-2000. Strategy focuses on identifying high-quality companies at reasonable valuations. The manager notes periods favoring low-quality assets typically last only a few quarters and expects quality will ultimately reassert itself. The strategy targets small-cap equities with the Russell 2500 Value Index as benchmark. Manager is increasingly constructive on small-cap equities broadly for 2026, expecting a rotation back toward fundamentals with quality small-cap stocks outperforming lower-quality peers. CIEN benefited from AI datacenter network deployment as networking became a key bottleneck for deploying AI widely. ADEA's media IP portfolio includes AI technologies and computer vision capabilities. | MRX CNK ADEA SNV LMNR LOPE CIEN HAE |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| May 15, 2026 | Seeking Alpha | Seeking Alpha | Cinemark Holdings, Inc. | Entertainment | Movie Theaters | Bull | New York Stock Exchange | alternative content, balance sheet, Cinemark, Earnings-recovery, EBITDA, Movie Club, movie theaters, premium formats, Revenue Growth, valuation | View Pitch |
| Apr 13, 2026 | Fund Letters | Third Point Partners | Cinemark Holdings Inc | Communication Services | Movies & Entertainment | Bull | NYSE | Cyclical Recovery, entertainment, Free Cash Flow, market share gains, media, movie theaters, turnaround, Value | View Pitch |
| Jan 16, 2026 | Fund Letters | Adam Peck | Cinemark Holdings, Inc. | Communication Services | Movies & Entertainment | Bear | New York Stock Exchange | Boxoffice, disruption, Risk, Streaming, Theaters | View Pitch |
| Oct 6, 2025 | Value Investors Club | Fletch | Cinemark Holdings, Inc. | Communication Services | Movies & Entertainment | Bull | NYSE | box office slate, concessions mix, deleveraging, convert call spread, M&A optionality, recovery | View Pitch |
| Aug 8, 2025 | Seeking Alpha | Giovana Pereira | Cinemark Holdings, Inc. | Communication Services | Entertainment | Bull | NYSE | — | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Value Sights | Cinemark Holdings, Inc. | Communication Services | Entertainment | Bull | NYSE | — | 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 |
|---|---|---|---|---|---|---|---|---|
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $934,248 | 0.00% | 40,200 | -191,255 | -82.63% | 0.0302% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $3.0M | 0.00% | 130,400 | +130,400 | +100.00% | 0.0979% |
| Israel Englander | Millennium Management LLC | $233.2B | $56.4M | 0.02% | 2,426,568 | +304,601 | +14.35% | 1.8225% |
| Aaron Weitman | CastleKnight Management LP | $4.5B | $1.4M | 0.03% | 60,000 | +117,500 | +87.95% | 0.0451% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $7.9M | 0.01% | 337,949 | -213,014 | -38.66% | 0.2538% |
| Cliff Asness | AQR Capital Management | $190.6B | $6.1M | 0.00% | 265,335 | +38,725 | +17.09% | 0.1980% |
| Bruce Kovner | Caxton Associates | $3.2B | $2.6M | 0.08% | 84,069 | +69,717 | +485.77% | 0.0842% |
| Mario Gabelli | GAMCO Investors | $10.4B | $296,124 | 0.00% | 12,742 | +5,020 | +65.01% | 0.0096% |
| Louis Bacon | Moore Capital Management | $6.8B | $554,716 | 0.01% | 23,869 | +23,869 | +100.00% | 0.0179% |
| Matthew Barrett | Glendon Capital Management | $1.7B | $12.1M | 0.72% | 519,125 | +519,125 | +100.00% | 0.3899% |
| Cory Martin | Barrow, Hanley, Mewhinney & Strauss | $30.0B | $8.2M | 0.03% | 354,904 | -200,745 | -36.13% | 0.2666% |