CPRT

CPRT

CPRT

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Sep 30, 2025	Qualivian Investment Partners	7.0%	-	AJG, AMZN, AZO, BKNG, CPRT, META, MSFT, SPGI	compounders, free cash flow, Pricing Power, Quality, returns on capital	The letter emphasizes long-term ownership of a small number of exceptional businesses with durable competitive advantages and long reinvestment runways. Quality is defined through high returns on capital, strong free cash flow, low leverage, and rational industry structures. The manager argues that premium-quality companies can justify high multiples when compounding is sustained over long horizons.		View
2025 Q2	Aug 11, 2025	Aoris International Fund	8.2%	-	ACN, ACO GR, APH, CPRT, DPLM LN, HLMA LN, JKHY, MSFT, OR FP	cash flows, global, moats, Quality, valuation	The commentary emphasizes global high-quality companies with strong competitive positions, predictable cash flows, and conservative balance sheets. Management remains cautious on valuations while favoring businesses capable of sustaining returns through economic uncertainty. Long-term quality compounding remains the core investment thesis.		View
2025 Q2	Jul 8, 2025	SVN Capital Fund	-	6.3%	BAF IN, CPRT, DNOPY, KKR, TRIV IN	Compounding, earnings visibility, growth, innovation, long-term	The fund focuses on durable growth companies benefiting from secular demand rather than cyclical rebounds. Earnings visibility and reinvestment opportunities underpin long-term compounding. Market volatility is viewed as an opportunity to add to high-conviction positions.	TRIV IN DNOPY CPRT KKR	View
2025 Q2	Jul 22, 2025	Conestoga Mid Cap Composite	3.5%	4.5%	AAON, BSY, CPRT, FICO, GWRE, HEI, IDXX, MTD, NET, POOL, ROP, VEEV, WCN, WSO	Competitive Advantage, earnings, growth, Mid Caps, volatility	The commentary focuses on maintaining high-quality growth exposure despite macro-driven volatility. Management highlights the resilience of companies with strong competitive positions and long runways for earnings expansion. Mid-cap growth is positioned as a balance between scalability and valuation discipline.	MTD NET FICO AAON POOL ROP WSO WCN CPRT VEEV IDXX GWRE HEI.A BSY	View
2024 Q2	Jul 12, 2024	Parnassus Mid Cap Growth Fund	8.6%	13.3%	ADYEN NA, BILL, BMRN, CPRT, CSGP, GWRE, KLAC, LULU, MPWR, MSCI, POOL, SLNY, SQ, TER, TT, WDAY, WDC, WST	-			View
2025 Q1	Jun 16, 2025	Qualivian Investment Partners	1.2%	1.2%	AJC, AJG, AZO, BRK/B, BRO, CPRT, GOOG, MUSA, ORLY, URI	-			View
2025 Q1	Apr 6, 2025	Seeking Winners	-0.5%	-0.5%	APPF, BRO, CMG, CPRT, HEI, IT	-			View
2025 Q1	Apr 5, 2025	Right Tail Capital	-	-	CPRT, ORLY	-			View
2025 Q1	Apr 27, 2025	Aoris International Fund	-0.8%	-0.8%	CAN, CPRT, EXPN LN, GWW, MSCI, MSFT, OR FP, REL LN, V	-			View
2024 Q1	Apr 15, 2024	Wedgewood Partners	5.8%	22.4%	BKNG, CDW, CPRT, META, POOL, PYPL, SPGI, V	-			View
2024 Q1	Apr 15, 2024	Conestoga Mid Cap Composite	8.4%	9.4%	ANSS, CPRT, FIVN, FTNT, LSPD, TECH, TFX, VEEV, WCN, WST	-			View
2025 Q1	Mar 31, 2025	Renaissance Investment Management – Large Cap Growth	-	-	ABBY, AVGO, BJ, CPRT, HON, MAR	-			View
2025 Q4	Dec 31, 2025	Royal London Global Equity Diversified Fund	4.8%	12.5%	7741.T, AAPL, AMZN, AVGO, BHP.AX, BRO, CPRT, GOOGL, HEIA.L, ITW, JPM, LLOY.L, LLY, LW, META, MSFT, MU, NVDA, RACE, V	AI, defense, Global Equity, healthcare, Quality, semiconductors, technology, Valuations	The fund benefited from strong positioning in AI-related companies, particularly Alphabet which saw positive results following the release of the Gemini 3 model that was widely accepted as market leading. The generative AI supercycle has driven extreme market concentration in the magnificent few companies, leaving huge parts of the equity universe ignored. Eli Lilly was a key contributor due to its dominant position in the fast-growing GLP-1 drug market. Third-quarter results were exceptional due to explosive demand for its metabolic franchise with Mounjaro for diabetes and Zepbound for obesity generating more than $10 billion in quarterly sales. Micron Technology continued to provide positive contribution as a semiconductor manufacturer benefiting from the AI boom. DRAM pricing has continued to rise sharply, creating a favorable environment for Micron and enabling improved profitability from rising AI workloads and tight semiconductor supply. The fund initiated a position in Hensoldt, a European defense electronics company, classified as an Accelerator. The investment case is underpinned by strong positioning in sensor solutions and electronic warfare, seeing heightened demand amid increased European defense spending with robust order book and technological edge in radar and optronics. The fund benefited from investors beginning to appreciate companies with more defensive qualities such as relatively reliable revenues. Many fundamentally sound, profitable, and dependable businesses are currently trading on the lowest relative valuations seen for years when compared to the broader index.	HAG GR ITW RACE LW MU LLY GOOG	View
2024 Q4	Dec 31, 2024	Madison Investors Fund	-0.4%	16.4%	ACGL, ALC, CPRT, DLTR, ELV, GOOG, PH	-			View
2024 Q4	Dec 31, 2024	Conestoga Mid Cap Composite	-4.6%	4.4%	ANSS, BFAM, CPRT, EXPO, FTNT, HEI, IDXX, ROL, VRSK, WST	-			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	Dec 15, 2025	Qualivian Investment Partners	6.4%	-	APH, BN, BRO, CPRT, GOOG, MCO, ORLY, TJX	Behavioral Finance, Capital Allocation, Compounding, moats, Quality	The commentary reinforces quality compounders as the most reliable path to long-term outperformance, drawing parallels between stock markets and probability-weighted betting outcomes. High-probability businesses with strong moats, pricing power, and capital allocation discipline are favored over speculative long shots. Behavioral biases are cited as a persistent reason why quality stocks can remain mispriced.		View
2023 Q2	Dec 7, 2023	Madison Investors Fund	7.8%	17.0%	ADI, ALC, CPRT, DHR, ELV, PH	-			View
2023 Q2	Dec 7, 2023	Qualivian Investment Partners	2.4%	15.3%	CPRT, DHR, HSY, LMT, META, MSFT, POOL, UHAL	-			View
2025 Q3	Nov 3, 2025	Aoris International Fund	-2.6%	-	ACN, APH, CPRT, IHG LN, JKNY, REL LN, SAP GR	Accenture, AI, Quality, SAP, valuation	Aoris International Fund reiterates its disciplined quality focus, favoring durable, high-return companies like RELX, Accenture, and Amphenol amid market concentration in mega-cap tech and speculative bubbles. Management views AI as a long-term productivity enabler, not a threat, highlighting beneficiaries such as Accenture and SAP. The fund emphasizes valuation discipline and rapid exits when confidence erodes to preserve capital and sustain long-term compounding.	SAP REL ACN IHG SAP REL ACN	View
2024 Q3	Oct 23, 2024	Aoris International Fund	3.1%	0.0%	ACN, APH, CPG LN, CPRT, CTAS, DPLM, ENEL IM, EOAN GR, FAST, MSCI, MSFT	-			View
2024 Q3	Oct 23, 2024	Conestoga Mid Cap Composite	8.4%	9.4%	ANSS, CPRT, FIVN, FTNT, GWRE, HEI, PCOR, POOL, ROP, TYL, WST	-			View
2023 Q3	Oct 19, 2023	Polen Capital – U.S. SMID Company Growth	8.8%	-1.3%	CPRT, CWAN, DOCS, FTCH, GLOB, GSHD, OLO, PAYC, YETI	-			View
2024 Q3	Oct 16, 2024	Wedgewood Partners	5.8%	22.4%	AAPL, CDW, CPRT, EW, GOOG, META, MSFT, MSI, POWL, PYPL, UNH	-			View
2025 Q3	Oct 14, 2025	Wedgewood Partners	5.9%	6.2%	BKNG, CDW, CPRT, GOOG, META, MSFT, PYPL, TSM	Artificial Intelligence, Data centers, energy, Leverage, semiconductors	Wedgewood warns of an unsustainable AI capital spending boom reminiscent of past tech bubbles. It highlights mounting corporate leverage and grid strain from AI data center expansion, raising concerns about long-term returns. The letter praises firms like TSMC, Microsoft, and Meta for disciplined execution but cautions that AIs debt-fueled growth could become cyclical.	MSFT US META US PYPL US GOOGL US	View
2022 Q3	Oct 10, 2022	Wedgewood Partners	5.8%	22.4%	AAPL, CPRT, EW, FB2A, GOOG, MSI, PYPL, TPL, TSM, V	-			View
2023 Q2	Oct 7, 2023	SVN Capital Fund	0.0%	29.4%	0QTE LN, CPRT, HEI, KNSL, ODFL, RMS FP	-			View
2025 Q4	Jan 31, 2026	YCG Investment	-	-	AAPL, CPRT, GOOGL, LIN, META, TDG, VRSK	aerospace, Industrial, Long Term, Networks, Quality, Speculation, technology, value	YCG focuses on high-quality, recession-resistant toll takers that have historically outperformed over the long term but are currently experiencing underperformance in speculative markets. The firm believes quality stocks are undervalued as investors chase speculative opportunities. TransDigm represents a portfolio of aerospace parts with mission-critical, proprietary characteristics and little competition. The aerospace aftermarket benefits from secular growth in air travel and regulatory barriers that create pricing power for parts suppliers. Linde operates in industrial gases with economies of scale advantages and take-or-pay contracts that provide guaranteed income streams. The business benefits from mission-critical applications across diverse industries and expensive transportation costs that create local monopolies. Meta demonstrates the resilience of large networks through its ability to adapt to competitive threats and regulatory changes. The company's massive user base and AI investments have enabled it to maintain growth in engagement and advertising despite challenges from TikTok and Apple's privacy changes.	META LIN TDG	View
2025 Q4	Jan 30, 2026	Flattery Wealth Management	0.0%	0.0%	ASTS, CASY, CEF, CPRT, DE, GRMN, HEI, MSTR, RACE, RMS, SEB	AI, Bitcoin, contrarian, crypto, gold, Multi-baggers, Quality, Space	Bitcoin functions as scarce, portable, digital gold gaining institutional traction as a hedge against currency debasement. MicroStrategy operates as the leader in pioneering corporate bitcoin strategy with the largest corporate bitcoin stash. The manager views bitcoin's institutional narrative advancing through maturing spot ETFs and growing corporate interest. AI represents a gunpowder moment that is flattening the playing field, allowing solo entrepreneurs to compete with enterprises and small businesses to compete with larger ones. The manager notes institutional investors have zero interest in non-AI deals currently. However, AI may also make people dumber and risks losing habits of attention and deep learning. AST SpaceMobile represents a bet on eliminating cellular dead zones through space-based broadband to unmodified smartphones. The company has partnerships with major carriers and is building what could become a massive subscription business. The space economy narrative is gaining attention with potential SpaceX IPO catalysts. Gold surged 65% in 2025, its best year since 1979, while most people forgot about it. Sprott Physical Gold and Silver Trust provides exposure to physical metals without counterparty risk or financial engineering. The position serves as insurance when fiat currencies inflate over long time horizons.	CEF HEI ASTS MSTR	View
2025 Q4	Jan 23, 2026	Aoris International Fund	0.0%	0.0%	ACN, AMZN, APH, ATCO-A.ST, CPRT, FAST, GWW, HLMA.L, IHG.L, JKHY, MSCI, OR.PA, RELX.L, SAP.DE	AI, international, long-term, Quality, technology, value	AI drove exceptional growth for data center-focused holdings like Amphenol and Halma, while creating market perception challenges for service companies like Accenture and RELX. The manager believes AI will ultimately benefit rather than harm these service businesses, as enterprise AI adoption requires complex change management and enhances rather than replaces proprietary data solutions. The manager emphasizes owning durable, resilient, market-leading businesses with competitive advantages and capable management. The portfolio focuses on companies with consistent earnings growth records, strong market positions, and the ability to gain market share over time through superior execution. The manager describes an unusually wide valuation gap between intrinsic value and share prices, with portfolio holdings trading at an average 25% discount to fair value. This stretched elastic band effect creates attractive prospective returns as valuations normalize over time.		View
2025 Q4	Jan 22, 2026	Jensen Investment	0.0%	5.6%	AAPL, ACN, AMZN, APH, AVGO, BRK.B, CPRT, GOOGL, JPM, KLAC, LLY, META, MMC, MSFT, MU, NVDA, STX, TSLA, WDC, WM	AI, growth, large cap, Market Concentration, Quality, semiconductors, technology	The AI investment cycle is maturing with prominent beneficiaries beginning to meet quality criteria as earnings become more sustainable and competitive advantages emerge. The portfolio now includes foundational AI enablers like Nvidia, Amazon, Meta, and KLA Corporation as highly profitable, cash-generative businesses with dominant positions in computing and semiconductor ecosystems. Jensen maintains focus on businesses with durable cash generation, resilience, and consistent returns on equity rather than abandoning discipline for momentum-driven rallies. The strategy emphasizes companies capable of compounding economic value over full cycles with strong competitive advantages and financial strength. Semiconductor equipment companies like KLA Corporation benefit from growing investor recognition of pricing power and mission-critical roles in advanced chip manufacturing. The sector saw broadening beyond consensus AI winners to reward memory and storage beneficiaries like Western Digital, Seagate, and Micron. The ten largest S&P 500 weightings comprised 38.29% of the Index and accounted for 55.40% of total returns, creating headwinds for strategies underweight these mega-cap leaders. This concentration in AI-related companies has been a defining feature since late 2022.	AVGO SYK WM CPRT MMC ACN LLY APH KLAC	View
2025 Q4	Jan 20, 2026	Fairlight Global Small & Mid Cap Fund	0.0%	-7.9%	CPRT, DPLM.L, FDS, G24.DE, HLMA.L, IDXX, IT, MEDP, REC.MI, ULTA	AI, global, healthcare, Quality, small caps, technology, underperformance	Several portfolio companies experienced sharp multiple contractions due to perceived higher risk of disintermediation from expected widespread adoption of Generative Artificial Intelligence. The manager estimates this was an 8% hit to returns, though believes the extent of recent derating is excessive given companies' successful track records of defending market leadership. The fund focuses exclusively on high-quality businesses with demonstrable track records of earning outsized returns on capital, stable management teams, conservative balance sheets, and avoiding single points of failure. Portfolio companies collectively grew revenues by 6% and EPS by 9% in 2025 despite challenging conditions. Healthcare represents 13% of portfolio exposure with holdings like IDEXX Laboratories in companion animal diagnostics and Medpace in clinical research. These companies benefit from recurring revenue models, market share gains, and structural industry growth tailwinds supporting improved diagnosis and drug development.	IT	View
2025 Q4	Jan 20, 2026	Madison Large Cap Fund	3.4%	3.4%	A, ACGL, ADI, AMZN, BN, CDW, CPRT, DHR, FERG, FI, GOOGL, HON, KEYS, LOW, NKE, PCAR, PGR, PH, TXN, WDAY	AI, Automation, financials, industrials, large cap, Quality, technology, value	The portfolio is populated with high-quality, durable businesses across a wide range of industries, selling for reasonable prices. The fund invests in the proven over the promise, the long-term over the short-term, and durability over momentum. This focus on quality businesses has been a strong foundation for attractive long-term investment performance. Alphabet released new AI models that gave investors further confidence that the company is well positioned for growth. Workday is investing in commercializing AI agents, which should be additive to revenue growth. The fund acknowledges heightened concerns of AI-related disruption affecting some businesses. Honeywell is undergoing a portfolio transformation with the anticipated separation of the aerospace and automation businesses in the second half of 2026. This separation will further enhance the return on invested capital and growth opportunities for each business.	WDAY FISV	View
2025 Q4	Jan 18, 2026	Conestoga Mid Cap Composite	-5.8%	-4.7%	AAON, AZTA, BCPC, BLFS, BMI, BSY, BWMN, COCO, CPRT, CSGP, CSW, CWAN, CWST, CYX, DGII, DSGX, ELVA, ESE, FSV, GNRC, GWRE, HEI.A, IDXX, IIIV, IRMD, IT, JKHY, KRMN, LMAT, MAMA, MEG, MLAB, MMSI, NGEN, NOVT, ODD, OLO, PHR, PL, PLMR, POOL, QTWO, RBC, RGEN, ROAD, ROL, ROP, SPSC, SSTI, STVN, TKNO, TREX, TRNS, TYL, UTI, VCEL, VEEV, VERX, VRSK, WCN, WLDN, WSO, WST	AI, Biotech, defense, healthcare, industrials, mid cap, Quality, technology	The manager emphasizes their focus on high-quality stocks with steady earnings characteristics, noting that their portfolio's emphasis on high-quality, steady earners continued to face headwinds in a market focused on short-term macroeconomic shifts. They believe quality stocks will eventually reclaim leadership after periods of low-quality outperformance. Small Cap biotechnology and pharmaceuticals emerged as significant outperformers in Q4, representing 132% of the Russell 2000 Growth Index's total returns. The manager notes they are materially underweight this sector, which created headwinds for relative performance as biotech rallied 33% for the year. The market showed persistent preference for AI-related hardware and infrastructure stocks, with AI themes dominating Index returns. The manager notes that capital flowed into more speculative AI names within the benchmark, creating valuation compression for traditional quality holdings. Defense-related stocks were among the key drivers of benchmark performance, with investors concentrating capital in defense stocks. The manager notes their lack of exposure to defense contractors weighed on relative results as this sector outperformed significantly.	GNRC BSY CSGP VEEV POOL WST IDXX ROL RGEN JKHY	View
2025 Q4	Jan 18, 2026	Conestoga SMid Cap Composite	-2.7%	-4.7%	AAON, AZTA, BCPC, BLFS, BMI, BSY, BWMN, COCO, CPRT, CSGP, CSW, CWAN, CWST, CYX, DGII, DSGX, ELVA, ESE, FSV, GNRC, GWRE, HEI.A, IDXX, IIIV, IRMD, IT, JKHY, KRMN, LMAT, MAMA, MEG, MLAB, MMSI, NGEN, NOVT, ODD, OLO, PHR, PL, PLMR, POOL, QTWO, RBC, RGEN, ROAD, ROL, ROP, SPSC, SSTI, STVN, TKNO, TREX, TRNS, TYL, UTI, VCEL, VEEV, VERX, VRSK, WCN, WLDN, WSO, WST	Biotechnology, defense, growth, industrials, Quality, small caps, technology	Small Caps achieved nearly 9% earnings growth in 2025 and are projected to grow by an additional 32% in 2026, contrasting with 13% growth expected for Large Caps. Small Caps are trading at a nearly 25% discount to Large Caps, creating a compelling case for outperformance for the first time since 2020. The market experienced extreme leadership concentrated in low-quality, high-beta, unprofitable stocks during the April-October rally. However, profitable stocks began outperforming unprofitable counterparts by over 5% from mid-October through year-end, suggesting high-quality stocks may be reclaiming leadership. Small Cap Biotech/Pharmaceutical stocks represented 132% of the Russell 2000 Growth Index's total returns in the fourth quarter alone, after comprising just 11% through the third quarter. The bioprocessing market showed clear signs of recovery with companies delivering encouraging order growth. Defense technology companies specializing in highly engineered, mission-critical systems showed strong performance. Companies with exposure to space, missiles, hypersonic, and defense programs generated mid-teens organic revenue growth complemented by acquisitions.	GNRC KRMN AAON ROAD STVN TREX POOL FSV CWAN CSW JKHY RBC RGEN	View
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	View
2024 Q3	Sep 30, 2024	Madison Investors Fund	7.8%	17.0%	BAM, CLOV, CPRT, DLTR, GOOG, KEYS, LOW, PCAR, SCHW	-			View
2024 Q3	Sep 30, 2024	Baron Growth Fund	11.1%	7.4%	ACN, APH, CPG LN, CPRT, CTAS, DPLM, ENEL IM, EOAN GR, FAST, MSCI, MSFT	-			View
2024 Q3	Sep 30, 2024	ClearBridge Mid Cap Growth Strategy	0.0%	0.0%	AME, APP, CPRT, DOCS, LINE, WST	-			View
2023 Q2	Jul 31, 2023	MCJ Capital Partners	10.6%	11.7%	0R4P LN, CPRT, CSU CN	-			View
2023 Q2	Jul 19, 2023	Polen Capital – U.S. SMID Company Growth	8.8%	-1.3%	ALIT, AZPN, CPRT, DT, ETSY, MORN, RVLV, TTD	-			View
2023 Q2	Jul 14, 2023	Wedgewood Partners	5.8%	22.4%	AAPL, CDW, CPRT, GOOG, META, MSFT, PYPL, TPL, TSCO	-			View
2023 Q2	Jun 30, 2023	Conestoga Mid Cap Composite	8.4%	9.4%	CPRT, CSGP, FDS, GGG, GWRE, MTD, RGEN, ROL, TSCO, VRSK	-			View
2023 Q1	May 23, 2023	Conestoga Mid Cap Composite	8.4%	9.4%	ANSS, AVLR, BSY, CPRT, CSGP, EXPO, FTNT, IDXX, IT, JKHY, PCOR, TECH, WST, XM, XUL	-			View
2023 Q1	Apr 20, 2023	The London Company Small-Mid Cap	2.0%	4.8%	BKI, CBRE, CPRT, ENTG, HAS, LW, MTB, STOR, SWKS, UNF	-			View
2023 Q1	Apr 14, 2023	Madison Mid Cap Fund	7.2%	12.4%	ANET, BKI, CPRT, CSL, FND, GBCI, IT, PCAR, ROST, WRB	-			View
2022 Q4	Jan 30, 2023	Andvari Associates	0.0%	20.3%	ADBE, CPRT, CSGP, CSU, DBGI, MA, MLAB, SPGI, TOITF, TYL	-			View
2023 Q4	Jan 26, 2024	Aoris International Fund	3.1%	0.0%	ATCOB SW, COST, CPRT, FAST, GGG, MSFT, OR FP	-			View
2022 Q4	Jan 19, 2023	Merion Road Capital	5.4%	11.2%	CPRT, CRMT, FERG, GOOG, MHH, MWA, UBAB, WHG	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Feb 4, 2026	Twitter / X	@BourbonCap	Copart, Inc.	Commercial Services & Supplies	Diversified Support Services	Bull	NASDAQ	Asia, Auctions, compounding, Europe, Insurers, LatAm, Logistics, platform, realestate, Salvage, VehicleRemarketing	View Pitch
Feb 4, 2026	Twitter / X	@BourbonInsider	Copart, Inc.	Commercial Services & Supplies	Diversified Support Services	Bull	NASDAQ	Logistics, oligopoly, Real Estate, Salvage Vehicles, Vehicle Auctions	View Pitch
Jan 27, 2026	Fund Letters	Stephen Arnold	Copart Inc.	Industrials	Specialty Business Services	Bear	NASDAQ	Auto auctions, Competition, duopoly, market share, Risk	View Pitch
Jan 27, 2026	Fund Letters	Shreekkanth Viswanathan	Copart, Inc.	Industrials	Specialty Business Services	Bull	NASDAQ	Marketplaces, Moat, Networkeffects, Salvage, Vehicles	View Pitch
Jan 24, 2026	Fund Letters	Allen T. Bond	Copart, Inc.	Industrials	Diversified Support Services	Bull	NASDAQ	Auctions, cashflow, duopoly, Real Estate, Remarketing, Salvage	View Pitch
Jan 22, 2026	Twitter / X	@FundasyInvestor	Copart, Inc.	Industrials	Environmental & Facilities Services	Bear	NASDAQ	Copart, Future Irr, High quality, Insurance, IRR, Logistics, Lower, Salvage	View Pitch
Jan 8, 2026	Fund Letters	Shreekkanth Viswanathan	Copart, Inc.	Industrials	Diversified Support Services	Bull	NASDAQ	Auction, Autos, electronics, inflation, Insurance, Labor, Margins, network, platform, Salvage	View Pitch
Dec 5, 2025	Fund Letters	Derek Johnston	Copart, Inc.	Industrials	Diversified Support Services	Bull	NASDAQ	Auctions, compounding, Insurance, Margins, Salvage	View Pitch
Aug 8, 2025	Seeking Alpha	RB Equity	Copart, Inc.	Industrials	Specialty Business Services	Bull	NASDAQ	—	View Pitch
Aug 7, 2025	Substack	Rijnberk Invest Insights	Copart, Inc.	Industrials	Specialty Business Services	Bull	NASDAQ	—	View Pitch

BSD Shareholders of CPRT

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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