CROX

CROX

CROX

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 27, 2025	Forager Australian Shares Fund	11.5%	10.5%	AMA.AX, BVS.AX, CAT.AX, CHL.AX, CROX, EML.AX, EXP.AX, JLG.AX, MTO.AX, NUTX, NZX.NZ, OML.AX, PBH.AX, PPS.AX, PRN.AX, PSI.TO, RDY.AX, SOWG, THL.AX, TYR.AX	Australia, Passive flows, small caps, takeovers, technology, value	Forager focuses on smaller companies that passive funds cannot or will not own due to size constraints. The fund benefits from forced selling when stocks become too small for large portfolios and from identifying companies that will eventually attract passive buying as they grow.	EXP AU MTO AU AMA AU NZX NZ EML AU OML AU	View
2025 Q2	Jul 27, 2025	Forager International Shares Fund	17.6%	14.1%	AMA.AX, BTH.AX, BVS.AX, CAT.AX, CHL.AX, CROX, EML.AX, EXP.AX, FIX, JLG.AX, MTO.AX, NUTX, NZX.NZ, OML.AX, PBH.AX, PPS.AX, PRN.AX, RDY.AX, THL.AX, TYR.AX	Australia, Passive flows, small caps, takeovers, technology, Tourism, value	Fund focuses on smaller companies that passive giants cannot efficiently own due to size constraints. Passive flows create opportunities through forced selling when stocks become too small for large portfolios. Fund benefits from being nimble enough to invest in smaller listed companies not accessible to many investment managers.	ZETA APG TKO FLUT MTX GR FIX WISE LN 4194 CN 4733 JP 3769 JP PSI CN	View
2024 Q1	May 9, 2024	Polaris Global Equity	6.9%	12.7%	000660.KS, 005930.KS, 066570.KS, ALSN, ANTO.L, CG, CROX, DCOM, DTG.DE, HNR1.DE, LUN.TO, MKSI, MSFT, MUV2.DE, NXT.L, OTEX, PUB.PA, SKG.L, SONY, TEP.PA	AI, Copper, financials, global, industrials, rates, technology, value	AI was a driving force behind divergent results for portfolio holdings. Publicis Groupe advanced after announcing a strategy to become the industry's first AI-powered Intelligent System. Teleperformance declined on concerns that generative AI will disrupt their call center business. Microsoft continues to benefit from AI demand despite no longer being the cheapest stock in the portfolio.		View
2024 Q1	May 30, 2024	Silver Beech Capital	0.0%	22.3%	BN, BTI, BUR, C, CROX, DNTL.TO, ET, FFH, FNF, GOOGL, SD, WSC	cash flow, Consolidation, infrastructure, Pricing Power, small cap, undervalued, value	Silver Beech focuses on finding undervalued companies trading below intrinsic value. The portfolio trades at significantly lower valuations than the S&P 500 while maintaining similar growth and operating metrics. The fund seeks to capitalize on market inefficiencies and human nature-driven boom and bust cycles.	DNTL.TO WSC	View
2024 Q1	May 10, 2024	Choice Equities Capital Management	-1.8%	5.5%	CROX, HEES, PAR, SHAK, URI	earnings growth, Equipment Rental, infrastructure, Restaurants, small caps, technology	The Infrastructure Investment and Jobs Act allocates more than $1 trillion over ten years, complemented by the Inflation Reduction Act and CHIPS Act. Construction spending in manufacturing reached $225 billion in 2023, more than doubling the 2015 peak. This represents a threefold increase compared to historical infrastructure programs when adjusting for inflation.	HEES PAR SHAK CROX	View
2024 Q1	Apr 25, 2024	Patient Capital Management	5.6%	15.8%	AMZN, BIIB, C, CLF, COIN, CROX, EXPE, GOOGL, KOS, META, NVDA, PTON, SOFI	AI, Biotechnology, Buybacks, crypto, growth, large cap, technology	Nvidia dominates the GPU market with 92% data center market share, benefiting from insatiable AI demand. The company grew revenue, earnings and FCF by 126%, 392%, and 610% respectively over the last year. Despite the massive market cap expansion, valuation has actually compressed from 61x to 37x forward earnings.	BIIB NVDA	View
2026 Q1	Apr 22, 2026	Baird Small/Mid Cap Growth Equity Fund	-4.8%	-4.8%	ADMA, AFRM, ALGN, BMI, BRBR, BSX, BURL, CASY, CRBG, CROX, DHR, DXCM, ELF, EQH, EXAS, FIX, FN, FND, FOUR, FTAI, HLI, HUBB, ILMN, INSP, JBL, KNSL, KTOS, LFUS, LII, MASI, MTDR, NSA, PEN, PODD, PSA, RGEN, SOFI, TMDX, TTAN, TWST, VSCO, WWD, XPO	AI, defense, growth, healthcare, industrials, semiconductors, small caps, technology			View
2024 Q1	Apr 15, 2024	Riverwater Sustainable Value Strategy	-0.6%	7.9%	ATKR, AZZ, CROX, HDSN, ICFI, IRDM, LECO, LMNR, LPX, MOD, NYCB, PLXS, QCOM, TALO, WAL	AI, Data centers, Electrical, Energy Transition, industrials, Quality, small caps, value	Small-caps continued what appears to be a new bull market since hitting bottom last October. Small-caps still have significant ground to cover, having last peaked in 2021, while large-caps have continued to hit record highs. The manager believes they're in the 9th inning of large-cap outperformance and the next five and ten-year outlook for small versus large appears highly enticing.	ATKR	View
2026 Q1	Apr 13, 2026	Greenlight Capital	6.5%	6.5%	ACHC, CNR, CROX, DHT, GPK, KD, SLM, VSNT	Geopolitical, gold, healthcare, Macro, oil, shipping, War		SLM CROX VSNT CNR DHT ACHC	View
2025 Q1	Mar 31, 2025	Forager International Shares Fund	-3.0%	-3.0%	4733.T, CAT, CLH, CRH, CROX, FI, FLTR.L, FOUR, INGA.AS, JD.L, LLOY.L, MOTR.L, NUTX, NXT, YETI, ZBRA	Cash, deployment, Europe, healthcare, small cap, tariffs, volatility	Trump's erratic tariff measures represent the largest upheaval to global trade since the Second World War. The unstructured, ad-hoc calculations behind which country gets whacked with what tariffs have erased confidence that there is a grand strategy in mind. These tariffs represent an enormous tax on already-struggling US consumers and are likely to cause a recession.	NUTX	View
2025 Q4	Feb 22, 2026	City Different Investments – Global Equity	-0.2%	31.6%	CROX, CVNA, IHS, MELI, RYAAY, TLN	Bottom-up, E-Commerce, energy, global, nuclear, technology, value	The fund holds Carvana, a vertically integrated e-commerce platform for used cars that eliminates traditional dealerships. MercadoLibre remains a core holding despite recent weakness, with the manager enthusiastic about its e-commerce and fintech strengths. E-commerce remains an important industry theme for the portfolio. Talen Energy, a major contributor for three consecutive years, owns nuclear facilities and expanded its relationship with Amazon Web Services to provide carbon-free energy for data centers. The global energy transition remains an important industry theme, with the fund investigating energy-related companies that have struggled recently. Talen Energy expanded its relationship with Amazon Web Services to provide carbon-free energy for data centers, highlighting the growing electricity demand from this sector. The fund sees potential benefits from rising electricity demand driven by data center growth.	IHS TLN CVNA	View
2024 Q4	Dec 31, 2024	Riverwater Sustainable Value Strategy	-	-	ATKR, COOP, CPRI, CRL, CROX, DAR, EVR, EXEL, IDCC, LMNR, MOD, NCMI, TPR, VLO	consumer, energy, financials, healthcare, small caps, technology, value	Strong growth in data centers drove significant outperformance in Modine Manufacturing. Most forecasts predict a doubling of data center demand by 2030, with the manager noting this trend shows no signs of slowing.	EXEL NCMI DAR COOP	View
2024 Q4	Dec 31, 2024	Polaris Global Equity	-5.8%	6.2%	000660.KS, 005930.KS, 066570.KS, 6758.T, ALSN, CFR, COF, CROX, CVS, ELV, GD, GILD, JAZZ, JPM, ML.PA, SAIC, SBH, SLM, TGLS, UNH	banks, financials, Geopolitical, global, inflation, value	Portfolio positioned as value-oriented with strong current earnings and cash flows, expected to benefit from higher-for-longer interest rates. Manager continues to find and add attractively priced companies to supplement compelling valuation profile.		View
2024 Q4	Dec 31, 2024	Artisan Partners Small Cap Fund	0.6%	14.7%	ABMD.CO, ALAB, COCO, CROX, FLS, GTLB, HALO, INSM, ITGR, JBT, LSCC, MTSI, NOVT, ONTO, PSN, RGEN, SDHC, SN, STVN, VCYT, VSEC	AI, Biotechnology, energy, healthcare, semiconductors, small cap, technology	Data centers are energy-intensive and with AI expansion, energy consumption is projected to grow exponentially. Portfolio companies like Astera Labs and MACOM are benefiting from growing AI datacenter spending. Cloud software franchises are making steady progress introducing AI functionality into their leading solution suites.		View
2025 Q3	Nov 8, 2025	Cullen Small Cap Value Equity	14.2%	5.6%	AVNT, CROX, ECVT, HUN, KWR, STR, UA, UIS, VAC	financials, Mortgage, rates, real estate, Regional Banks, small caps, value	Small-cap equities delivered exceptional performance with Russell 2000 gaining 12.4% and Russell 2000 Value advancing 12.6%, outpacing large caps. The rally was fueled by Fed rate cuts, economic resilience, and renewed risk appetite. Small caps entered the quarter trading at multi-decade lows relative to large caps, providing valuation support and asymmetrical upside as earnings recover.		View
2023 Q3	Nov 6, 2023	Voss Value Fund	-8.3%	-0.2%	AAPL, CRH, CROX, ECN.TO, NVDA, SKY, TSLA	Building Materials, consumer, Homebuilders, infrastructure, interest rates, Long/Short, small caps, value	CRH positioned as major beneficiary of unprecedented government infrastructure programs including IIJA, CHIPS, and IRA. Highway funding alone increases 50% above baseline, with CRH being the #1 road paver. Manufacturing onshoring creates $200B+ in mega projects through 2030.		View
2025 Q3	Nov 3, 2025	Fairtree Global Equity Fund	8.9%	-	005930.KS, AAPL, AMZN, BABA, BRK-B, CNC, CROX, DHI, EVO.ST, FI, GOOGL, JD, KO, ORCL, V, WKL, ZTS	AI, China, Dollar, emerging markets, global, policy, semiconductors, technology	China rose 20.7% for the quarter, extending its rally on continued policy support particularly targeted at technology and property sectors. The government's ongoing push to expand domestic chip production by 2026 and maintain the US-China trade truce further bolstered investor confidence and lifted export-driven and tech-related equities.	FISV CROX CNC AAPL BABA GOOG	View
2023 Q3	Oct 31, 2023	Choice Equities Capital Management	-1.8%	5.5%	CROX, MGNI, OEC, PLCE, SHAK, STGW, WCC	Advertising, consumer, industrials, Restaurants, small caps, value	Manager emphasizes that small and mid-cap stocks have severely lagged larger peers and are now historically attractive. The Russell 2000 fell below pre-pandemic levels, with forward earnings multiple of S&P 600 at 11.5x, a level only seen three times since 1999. All prior instances produced double-digit annualized returns across multiple years.	SHAK	View
2022 Q3	Oct 27, 2022	Choice Equities Capital Management	-1.8%	5.5%	CROX, FARM, OEC, SITE, WCC	-			View
2024 Q3	Oct 24, 2024	Choice Equities Capital Management	-1.8%	5.5%	CROX, CZR, GENI, HAIN, MGNI, OEC, PAR	Advertising, gaming, Restaurants, small caps, technology, value	The fund holds positions in Caesars Entertainment and Genius Sports, both operating in the entertainment, casino and gaming space. Caesars benefits from secular tailwinds in online sports betting and iGaming, while Genius has exclusive data rights deals with major leagues including the NFL and English Premier League.	HAIN GENI CZR	View
2025 Q3	Oct 16, 2025	Riverwater Partners Small Cap Strategy	-	-	ATRC, BDC, BOW, CROX, DGII, HAE, IDCC, IRDM, LOPE, MMSI, MOD, PFS, PLMR, PLPC, TGLS, UEC, VECO, VSTS, WOR	AI, Energy Transition, IoT, Quality, small caps, uranium, Utilities, value	The portfolio benefits from exposure to AI infrastructure through holdings like Modine Manufacturing, which provides thermal management solutions for data centers supporting AI workloads. The manager views AI as driving a multi-year investment cycle with exponential growth in AI-related infrastructure spending.	PLPC BDC DGII PFS WOR MOD UEC	View
2024 Q2	Jul 19, 2022	CrossingBridge Advisors	0.0%	0.0%	CROX, DISH, PARA, SATS	credit, Event-Driven, floating rate, Foreign, high yield, investment grade	High yield credit spreads are at their lowest level since 2007, with over 60% of the market trading below 200 basis points. The manager notes this creates a challenging environment where risk is being mispriced across asset classes. Despite tight spreads, credit quality has improved with leverage reduction across the market.		View
2023 Q3	Jun 11, 2023	Voss Value Offshore Fund	7.4%	8.9%	AAPL, CRH, CROX, ECN.TO, NVDA, SKY, TSLA	Aggregates, Construction, Homebuilders, infrastructure, materials, small caps, value	Small cap stocks are experiencing their 3rd worst bear market by duration and 4th worst by magnitude in 40+ years, with the Russell 2000 down 33% from peak. The manager believes this creates exceptional opportunity as small caps have historically been higher 99% of the time over rolling 6-year periods. Current valuations at 12x P/E excluding negative earners represent significant discount to historical levels.		View
2023 Q1	Apr 17, 2023	SandbrooK Capital	6.0%	11.1%	AMZN, BILL, BOX, CFLT, CRM, CROX, CRWD, ESTC, ETSY, GOOS, HCP, HIMS, MSFT, NKE, RH, SNAP, SNOW, SPT, VRT, ZM	consumer, Long/Short, Macro, risk management, software, technology	Manager focused on large cap tech and growth software names, particularly beaten-up tech stocks in January. Positioned in CRM, CRWD, ZM, SNOW, BILL, AMZN, MSFT, and ESTC as top contributors. Also shorted tier 2 high growth software names where multiples had run above long-term averages.	SONO	View
2023 Q1	Mar 31, 2023	Barometer Capital Management	-	-	AVGO, AXON, CROX, CS.TO, JPM, MSFT, NVDA, ORCL, STLC, STN	AI, asset allocation, Banking, energy, financials, semiconductors, Tactical, technology	Increased investor enthusiasm around generative AI fueled strength in the semiconductor industry. NVIDIA Corp. and Broadcom Inc. significantly contributed to pool gains as funds capitalized on this trend by increasing technology sector exposure.		View
2022 Q4	Jan 30, 2023	Choice Equities Capital Management	-1.8%	5.5%	CROX	-			View
2023 Q4	Jan 22, 2024	Choice Equities Capital Management	-1.8%	5.5%	BXC, CROX, MGNI, OEC, PAR, SHAK, STGW, WCC	Building Products, Buybacks, Restaurants, small caps, technology, value	Manager focuses on low multiple stocks of quality businesses at discounted valuations. Despite challenging backdrop in 2023, continues to believe this approach offers best chance of outperforming over sustained periods.	IPAR BXC	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 14, 2026	Fund Letters	Greenlight Capital	Crocs, Inc.	Footwear & Accessories	Footwear	Bull	NASDAQ	Consumer Discretionary, contrarian, Footwear, Global Brand, International Growth, Share Buybacks, Value	View Pitch
Apr 13, 2026	Fund Letters	Choice Equities Capital Management	Crocs Inc.	Consumer Discretionary	Footwear	Bull	NASDAQ	Brand Marketing, Consumer Discretionary, Distribution, Footwear, inventory management, Leadership Change, Outlet Stores, turnaround, Value	View Pitch
Apr 4, 2026	Substack	The Finance Corner	Crocs, Inc.	Consumer Goods	Footwear	Bull	NASDAQ Stock Market	Brand investment, Crocs, Footwear, Free Cash Flow, HEYDUDE, market skepticism, Revenue Growth, Share Buybacks, store expansion, valuation	View Pitch
Jan 30, 2026	Fund Letters	Trevor Scott	Crocs, Inc.	Consumer Discretionary	Footwear	Bull	NASDAQ	Brand, deleveraging, Footwear, Margins, valuation	View Pitch
Nov 29, 2025	Fund Letters	Cornelius Zeeman	Crocs Inc.	Consumer Discretionary	Footwear	Bear	NASDAQ	consumer, Cyclicality, Demand, Footwear, Inventory, Margins, retail, valuation	View Pitch
Aug 13, 2025	Seeking Alpha	David Trainer	Crocs Inc.	Consumer Discretionary	Footwear & Accessories	Bull	NASDAQ	—	View Pitch
Aug 7, 2025	Substack	The Finance Corner	Crocs, Inc.	Consumer Discretionary	Footwear & Accessories	Neutral	NASDAQ	—	View Pitch

BSD Shareholders of CROX

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.

Join for free and get access to the buyside

Get insights from the world's most influential hedge fund investors direct to your inbox

Follow Us On: