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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 4, 2025 | ClearBridge Mid Cap Growth Strategy | - | - | AXON, CVNA, NET, PLTR | Capital Allocation, fundamentals, quality growth, secular trends, volatility | The letter underscores confidence in high-quality mid-cap growth companies benefiting from secular tailwinds and improving capital allocation. Management notes that volatility created opportunities to add to best ideas. Long-term growth remains the core thesis despite macro noise. | View | |
| 2025 Q2 | Aug 27, 2025 | ClearBridge Investments Mid Cap Growth Strategy | - | - | APP, CVNA, HLT, MELI, NET, PLTR, TW | AI Demand, Compounding, earnings growth, Mid Caps, volatility | The letter highlights a rebound in mid-cap growth stocks supported by resilient demand for AI-related services and improving earnings visibility. Management views mid-cap growth as a source of long-term compounders overlooked during recent market volatility. Selectivity and balance sheet strength remain critical. | CVNA VST MELI TW AXON PLTR |
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| 2025 Q2 | Jul 21, 2025 | Sands Capital Select Growth Fund | 27.7% | 14.8% | AJG, AVGO, CVNA, NFLX, NVDA, RARE, RBLX, SHOP, TEAM, UBER, V | AI, growth, innovation, Platforms | View | ||
| 2025 Q2 | Jul 18, 2025 | Optimist Fund | 39.2% | 32.4% | CVNA, RVLV, TDUP, W | compounders, Founder-led, inflection points, Long-Term Growth, volatility | The letter emphasizes investing in underappreciated market leaders run by ambitious, founder-like CEOs with long growth runways. Management highlights inflecting compounders where near-term margins mask long-term earnings power. Volatility is embraced as an opportunity to add to high-conviction positions at attractive prices. | W CVNA TDUP |
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| 2025 Q2 | Jul 14, 2025 | Recurve Capital | - | 14.8% | COGT, CVNA, RH | Concentration, disruption, earnings, FreeCashFlow, volatility | The strategy emphasizes owning disruptive businesses with long-term earnings power while accepting short-term volatility as the cost of outsized returns. Volatility is treated as an opportunity to increase exposure to high-conviction ideas when markets misprice fundamentals. Portfolio construction favors letting winners compound as companies move up favorable fundamental decision trees. | RH CCOI CVNA |
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| 2024 Q1 | May 1, 2024 | Optimist Fund | 27.8% | 49.2% | ACVA, CRCT, CVNA, DASH, HFG GR, SMAR, UBER, W, XPOF | - | View | ||
| 2025 Q1 | Apr 22, 2025 | Optimist Fund | -4.9% | -4.9% | CVNA, FA, HFG GR, RVLV, TDUP, UBER, W | - | View | ||
| 2024 Q1 | Apr 20, 2024 | Saga Partners | 22.6% | 39.4% | CVNA, RDFN, ROKU | - | View | ||
| 2025 Q1 | Mar 31, 2025 | Sands Capital Technology Innovators Fund | -10.4% | -10.4% | APP, ASML, CVNA, DASH, IOT, KVYO, MELI, NOW, NVDA, OKTA, RBLX, SE, TSM, V | - | View | ||
| 2025 Q4 | Mar 2, 2026 | Recurve Capital | - | 10.0% | CVNA, RCL | Artificial Intelligence, Carvana, compounders, Concentrated Portfolio, high conviction | Recurve emphasizes a concentrated portfolio strategy that prioritizes "slugging percentage" over batting average, allowing outsized winners like Carvana to compound and drive returns, contributing to +12% gross performance in 2025. The manager focuses on under-appreciated, industry-leading companies with durable competitive advantages and has shifted away from lower-quality value opportunities toward high-conviction compounders. In the current AI-driven environment, the portfolio favors businesses operating at the intersection of physical and digital infrastructure, viewing technology as an enabler rather than the end product. | 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 |
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| 2025 Q4 | Feb 12, 2026 | Optimist Fund | -8.5% | 32.2% | AFRM, CVNA, DASH, DICEY.L, FVRR, HFG, LTHM, META, MNDY, NFLX, PTON, ROOT, TDUP, UBER, W | Compounding, E-Commerce, growth, long-term, technology, value | The fund holds significant positions in e-commerce companies including Wayfair, Carvana, ThredUp, and DoorDash. These businesses are showing strong fundamental performance with revenue growth acceleration and improving profitability metrics. The manager views current valuations as materially underappreciating future earnings potential. The fund focuses on identifying businesses where deep research can uncover gaps between market expectations and long-term reality. The strategy targets companies with potential for mid-teens or better compound returns over decades, emphasizing businesses with accelerating sales and earnings growth. The manager emphasizes finding businesses trading at significant discounts to intrinsic value, where market expectations are materially below long-term reality. Current valuations are viewed as underappreciating the earnings and cash flow core holdings will generate over the next five years. | MNDY TDUP CVNA W MNDY TDUP CVNA 3769 JP|4194 CN|4733 JP|APG|CROX|FIX|FLUT|GLEN LN|JD/ LN|MTX GR|PSI CN|TKO|WISE LN|ZETA MNDY TDUP CVNA W DSCV LN LUCE LN SWIM MNDY TDUP CVNA W |
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| 2022 Q4 | Dec 31, 2022 | Aquamarine Fund | - | -21.0% | 1211 HK, AXP, BAC, BRK/A, CDLX, CVNA, GOOG, IEX IN, MKL, NESN SW, OXY, RACE IM, ROKU, SNOW, SQ, TSLA | - | View | ||
| 2024 Q4 | Dec 4, 2025 | Saga Partners | - | 112.2% | AMZN, BRK/A, CVNA, ROKU, TRUP, TTD, WISE LN, WMT | - | View | ||
| 2025 Q3 | Nov 24, 2025 | Recurve Capital | - | 14.6% | BC IM, CVNA, PAY | Autos, Carvana, Luxury, payments, tariffs | The manager outlines a philosophy built around long-duration investment horizons, focusing on holding inevitable winners through volatility while exiting losers decisively. Long-term positioning emphasizes compounding exposure in companies with strong feedback loops, high customer surplus, and multi-year growth runways. Long-term investing remains powerful when paired with disciplined sell criteria and opportunity-cost-driven portfolio construction. | View | |
| 2025 Q3 | Oct 22, 2025 | Optimist Fund | 9.1% | 44.5% | CVNA, FVRR, HFG GR, MEDP, MNDY, RVLV, TDUP, W | AI, Consumer cyclicals, E-Commerce, growth, small caps | The Optimist Fund gained 9.1%, driven by small-cap cyclicals like Wayfair, ThredUp, and Carvana as fundamentals inflected upward. The manager emphasizes structural growth in e-commerce and data-driven efficiency, with selective use of AI to enhance scalability. Portfolio concentration in innovative, founder-led firms reflects conviction in multi-year compounding potential. | MEDP CVNA TDUP W MEDP CVNA TDUP W |
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| 2025 Q3 | Oct 20, 2025 | Sands Capital Global Growth Fund | -2.0% | 12.2% | AXON, CVNA, DXCM, GALD SW, GOOG, III LN, IMCD NA, ISRG, NFLX, NVDA, RGEN, SHOP, SIKA SW, TEAM, TSM | Artificial Intelligence, E-Commerce, Global Growth, healthcare, semiconductors | The fund emphasizes durable global growth from AI infrastructure, digital platforms, and healthcare innovation. NVIDIA, Alphabet, and TSMC lead performance as AI capital investment accelerates worldwide. Managers added new positions in Galderma and 3i Group to balance cyclical risk while maintaining exposure to long-term technology and consumer adoption trends. | TEAM DEXCOM INTU NFLX AXON GALD SHOP GOOGL NVDA |
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| 2025 Q3 | Oct 16, 2025 | Brown Advisors Mid-Cap Growth strategy | 2.0% | 9.4% | ALNY, CAH, CMG, CVNA, DKNG, DXCM, FIG, FIX, MDB, NTSK, OS, PSN, RBLX, TTD, VRSK, WST, ZS | Artificial Intelligence, Biotechnology, cybersecurity, Data centers, healthcare | Brown Advisory sees strong tailwinds from AI and data center infrastructure fueling select mid-cap growth opportunities, including semiconductors, software, and cybersecurity. The fund also focuses on healthcare innovation, emphasizing biotech firms and specialty drug distributors benefiting from complex therapies and new technologies. It maintains a disciplined approach, trimming overvalued AI-exposed holdings and adding positions in emerging digital security and healthcare growth names. | CVNA NTSK PSN |
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| 2024 Q3 | Oct 16, 2024 | Optimist Fund | 27.8% | 49.2% | CVNA, FA, RVLV, SMAR, SWIM, W | - | View | ||
| 2024 Q3 | Oct 15, 2024 | Recurve Capital | - | - | CCOI, CVNA | - | View | ||
| 2025 Q4 | Jan 6, 2026 | Tapasya Investment Fund | 0.0% | 23.5% | 0700.HK, ADBE, ADYEN.AS, BABA, BLDR, CMG, CVNA, FNMA, GLBE, GOOG, IBKR, LULU, PRX.AS, UMG.AS | AI, Concentration, global, Homebuilders, long-term, Quality, technology, value | The manager extensively discusses whether we are in an AI bubble, noting that AI appears to be the most significant digital disruptor of our lifetime. While acknowledging extremely stretched valuations in AI-associated hardware and semiconductors, the fund avoids these sectors due to inability to forecast cash flows confidently. The fund employs value-based investing principles, focusing on concentrated investments in high-quality businesses at fair valuations. The manager notes they often underperform during periods of extreme sectoral valuation surges but expects long-term success from this approach. The anticipated recovery in the homebuilder sector has stalled due to persistent affordability issues driven by high home prices, despite lower interest rates and strong wages. The fund maintains conviction in Builder FirstSource despite the housing market recession. | View | |
| 2025 Q4 | Jan 26, 2026 | Brown Advisors Mid-Cap Growth strategy | -4.7% | 12.5% | AS, AXON, CPNG, CSGP, CVNA, EFX, EXPE, FICO, HWM, INSM, IOT, MDLN, NTRA, PLTR, PSN, PSTG, RKLB, ULTA, VEEV, ZS | AI, energy, growth, healthcare, industrials, mid cap, semiconductors, technology | Several portfolio companies are generating meaningful revenue from GenAI-enabled products, with Axon leading through DraftOne and related offerings that drove over $500 million in bookings. The strategy sees AI as a key driver for companies delivering solutions that save time and reduce labor intensity. AI-driven demand for data center construction is benefiting holdings like Comfort Systems, which exceeded expectations with revenue growth over 20% driven by MEP contracting demand. Rising power demand from data center customers is also supporting Vistra through direct sourcing agreements. The strategy maintains exposure to semiconductor companies like Monolithic Power Systems, which benefited from easing concerns around NVIDIA market share and expanding exposure to other AI compute architectures including AMD, TPU, and Trainium to reduce customer concentration. The strategy repurchased Zscaler following a selloff, viewing it as an attractive entry for the leader in the growing SASE security software market that is executing a multi-product cross-sell strategy driving ARPU and margin growth. The strategy is modestly overweight Energy with positions in Cheniere Energy for LNG exposure and Oceaneering International. Vistra benefited from rising power demand in Texas and growing investor appreciation for nuclear assets, signing large power purchase agreements with hyperscalers. The strategy is overweight Healthcare with broad exposure across services, devices and biotechnology. Cardinal Health delivered strong results driven by improved specialty mix and margin recovery, while Medline offers exposure to both medical technology demand and provider volumes through its vertically integrated platform. | View | |
| 2025 Q4 | Jan 22, 2026 | Sands Capital Global Growth Fund | 6.2% | 10.2% | 6861.T, ADYEY, AMZN, ASML, AXON, CVNA, DOCU, DOL.TO, FLUT, GOOGL, ISRG, MELI, NET, NFLX, NOW, NVDA, SHOP.TO, SPOT, TSM, V | AI, defense, energy, global, growth, Robotics, Space, technology | AI spread across industries in 2025, reshaping business models and driving market leadership. The firm maintains meaningful AI exposure through hardware and software providers with clear economic models, while avoiding areas where prices assume years of success or sustainable profit remains uncertain. Defense technology is entering a structural growth phase driven by rising geopolitical risk and convergence of military and commercial innovation. Focus on autonomous systems, space sensing, secure communications, and software that connects these pieces. Advances in AI compute power are pushing robotics forward with near-term opportunities in logistics and warehouse environments. Amazon's fulfillment network demonstrates how systems can share data and work safely with people. The energy transition is blending with new power demand from data centers, transportation, and industry, straining grids and forcing aggressive investment in power infrastructure. Expecting a multiyear investment cycle across the entire power value chain. Cyberattacks have become more frequent, costly, and sophisticated as more activity moves to the cloud and AI tools spread. Security is no longer discretionary but a core operating requirement and foundation for trust. Space is becoming part of everyday life with satellites supporting internet, defense, navigation, and climate monitoring. SpaceX has led efforts to lower launch costs by 95%, making supply cheaper and expanding viable missions. | ARGX APP SPOT MELI DASH AXON NFLX TSM TITAN IN GALD SW ISRG GOOGL |
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| 2025 Q4 | Jan 22, 2026 | Sands Capital Select Growth Fund | -5.4% | 15.5% | AMZN, APP, AVGO, CVNA, DASH, GOOGL, ICE, META, MSFT, NFLX, NU, NVDA, RARE, RBLX, SE, SHOP.TO, SPOT, SQ, TSM, V | AI, defense, energy, growth, infrastructure, Robotics, Space, technology | AI continues to reshape business models and drive market leadership, with infrastructure spending extending into 2027. The firm maintains meaningful exposure to AI enablers while monitoring bubble risks and debt-financed expansion. Demand for compute outpaces supply with scaling laws remaining intact. Defense technology entering structural growth phase driven by geopolitical risks and convergence of military and commercial innovation. Focus on autonomous systems, space sensing, and secure communications with companies playing mission-critical roles from modest revenue bases. Advances in AI compute power pushing robotics forward with near-term opportunities in logistics and warehouse environments. Amazon's fulfillment network demonstrates how systems can share data and work safely with people as hardware costs fall and software improves. Energy transition blending with new power demand from data centers and AI, straining grids and forcing aggressive infrastructure investment. Multiyear investment cycle expected across entire power value chain with opportunities in companies combining scale, speed, and technology. Cyberattacks becoming more frequent and sophisticated as attack surfaces grow with cloud migration and AI tool proliferation. Security now a core operating requirement and foundation for trust, with portfolio companies evolving to broader cloud-delivered platforms. Space becoming part of everyday life with satellites supporting internet, defense, and climate monitoring. Launch costs fallen 95% from Space Shuttle levels, making supply cheaper and expanding viable missions. Industry showing early signs of manufacturing scale and profitability. | PWR CRS DXCM VG AJG ORCL TEAM NOW MSFT SPOT NFLX SE RBLX AVGO AMZN TSM CVNA GOOGL |
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| 2025 Q4 | Jan 22, 2026 | Sands Capital Technology Innovators Fund | 6.2% | 14.7% | AMZN, APP, ASML, AVGO, AXON, CPNG, CVNA, DASH, DDOG, DUOL, GOOGL, IOT, MELI, META, MSFT, NFLX, NOW, NU, NVDA, PANW, PLTR, RBLX, SE, SHOP.TO, SPOT, SQ, TEAM, TSM, V | AI, defense, global, growth, innovation, Robotics, semiconductors, technology | AI continues to transform industries and drive market leadership, with infrastructure buildout continuing despite concerns about bubble-like excesses. The firm maintains meaningful exposure to AI enablers including semiconductors and digital advertising while staying disciplined on valuation and business quality. Semiconductor demand continues to outpace supply with visibility for AI-related spending extending into 2027. The portfolio maintains selective exposure focused on leading-edge logic chips and custom AI chip design services, with companies like TSMC and Broadcom positioned as key beneficiaries. Defense technology is entering a structural growth phase driven by rising geopolitical risk and convergence of military and commercial innovation. Focus areas include autonomous systems, space sensing, secure communications, and software that connects these pieces. Advances in AI compute power are pushing robotics forward with near-term opportunities in logistics and warehouse environments. The focus is on companies that make robots reliable, safe, and economically compelling rather than just headline-grabbing. Energy transition is blending with new power demand from data centers and AI infrastructure, creating a multiyear investment cycle across the entire power value chain. Opportunities emerging in companies that combine scale, speed, and technology to address grid complexity. Cyberattacks have become more frequent, costly, and sophisticated as more activity moves to the cloud and AI tools spread. Security is now a core operating requirement and foundation for trust with customers, regulators, and partners. Space is becoming part of everyday life with satellites supporting internet, defense, navigation, and climate monitoring. Costs are falling, tools are easier to use, and demand is rising, creating growing businesses with steady long-term revenue potential. | PLTR AVGO GOOGL MSFT NFLX NU SHOP KVYO CVNA TSM |
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| 2025 Q4 | Jan 19, 2026 | Artisan Mid Cap Fund | -0.4% | 14.8% | ALAB, APG, ARGX, ASND, BKR, COHR, CVNA, DASH, INSM, LHX, MACOM, MDB, RBC, RBLX, SHOP, SPOT, TTAN, VEEV, WAT, WST | AI, Biotechnology, defense, growth, healthcare, industrials, mid cap, technology | AI-related capital spending remains an area of active debate entering 2026. The team continues to find compelling opportunities among companies positioned to benefit from AI investment strength and gain share of customers' AI spending based on superior technology that improves datacenter performance and efficiency. Healthcare returned as a source of market strength with the team maintaining relatively high exposure despite several years of industry headwinds. The positioning is grounded in conviction in profit cycle opportunities for biotech companies with compelling product launches. Aerospace and defense holdings appear well positioned for multiyear growth. The team believes companies are well positioned to benefit from growing investment in next-generation missile defense and national security programs requiring advanced capabilities. Holdings exposed to datacenter and AI infrastructure spending contributed to returns. Companies benefit from continued cloud growth and rising AI demand driving rapid datacenter expansion with strong long-term growth opportunities. | IRTC FERG SNOW WAT TTAN CVNA ALAB LHX SPOT VEEV MDB RBLX INSM COHR |
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| 2025 Q4 | Jan 19, 2026 | Carillon Eagle Mid Cap Growth Fund | 0.0% | 8.7% | ALNY, ARES, AXON, COR, CRS, CVNA, HLT, LPLA, MDB, NTRA, RBA, RBLX, RCL, ROST, TER, VEEV, VRT, VST | aerospace, AI, Biotech, consumer, growth, healthcare, mid cap, technology | AI investment cycle accelerated notably in 2025 and expected to continue driving markets early in 2026. Strong demand for AI-related semiconductor test equipment. Bottlenecks from power supply availability remain a key gating factor for new computing capacity. Production challenges at two global aircraft manufacturers led to sustained increase in high-margin aftermarket parts and services. With manufacturers resolving production issues, original equipment exposed stocks may outperform as aircraft production rates ramp up. Biotech stocks getting boost from downtick in interest rates. Continued decline in rates could set stage for prolonged period of positive returns. Recent M&A activity has picked up though remains below normal levels. Healthcare industry remains largest US sector at $5 trillion, growing 5% annually driven by aging population and chronic conditions. Sector has underperformed recently but working off COVID excesses with improving M&A activity and favorable valuations. Consumers broadly prioritizing travel and experiences over goods. Companies offering unique experiences such as cruise vacations remain attractive despite some near-term guidance concerns and supply dynamics. | VEEV VST RCL AXON RBLX MDB ROST CRS TER NTRA |
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| 2025 Q4 | Jan 18, 2026 | Octahedron Capital | 0.0% | 0.0% | ABNB, AMZN, BKNG, CART, CHWY, CPNG, CVNA, DASH, ETSY, EXPE, GOOGL, GRAB, MELI, META, NVDA, PINS, RDDT, SNOW, UBER, W | AI, Cloud, Digital, E-Commerce, growth, infrastructure, semiconductors, technology | AI infrastructure demand remains robust with cloud providers aggressively adding capacity and seeing strong bookings. Enterprise AI adoption is accelerating with over 70% of Google Cloud customers using AI products. AI is enabling productivity gains and new business models across software companies. On-demand delivery continues accelerating growth with companies like Uber reaching $12B grocery run-rate and DoorDash seeing highest growth in 3+ years. Cross-selling and new product initiatives are driving engagement while autonomous delivery platforms are being deployed. Cloud providers are seeing demand significantly ahead of capacity with AWS reaccelerating to 20.2% growth and Azure growing 40%. Multi-billion dollar bookings and long-term contracts are driving unprecedented infrastructure investments. Memory entering historic cycle with step-function margin gains and tight supply through 2026. AI networking components fully booked through 2027 while foundry utilization improves with increased capex outlook. Payment volumes remain stable with consumer loan charge-offs steady. NuBank continues dominating LATAM with Mexico scaling and strong unit economics while maintaining growth focus over margin optimization. US travel rebounded strongly in Q3 with nights and seats booked up 9% year-over-year. Booking.com's Genius program accounts for mid-50% of room nights while Airbnb received 110,000 experience supplier applications. | View | |
| 2025 Q4 | Jan 15, 2026 | Alger Mid Cap Focus Fund | -3.4% | 15.0% | APH, BIIB, CVNA, FIX, FTI, NET, NTRA, RGEN | growth, healthcare, industrials, mid cap, technology | The letter emphasizes mid-cap growth investing driven by fundamental research and accelerating earnings momentum as market participation broadens beyond mega caps. AI-related capex, digitization, and productivity gains are cited as key secular tailwinds supporting revenue growth across industrials, healthcare, and technology. Growth is positioned to benefit as earnings durability, not valuation expansion, increasingly drives returns. | View | |
| 2025 Q4 | Jan 14, 2026 | Driehaus Small/Mid Cap Growth Fund | 1.8% | 10.0% | CRNX, CVNA, GH, NTRA, PWR, XBI | AI, Biotechnology, energy, growth, healthcare, industrials, small caps, technology | AI continues to be the dominant theme driving the market and economy. Demand for AI LLMs is going up exponentially, with demand by AI users and related demand for AI compute continuing to exceed supply. AI capex and data center spending are expected to remain strong as LLMs still need to increase dramatically in terms of intelligence. Small caps continue to outperform since the April bottom, with the Russell 2000 returning nearly 42.4% from the low. Small cap earnings have accelerated in 2025 and are improving on an absolute and relative basis, expected to outgrow large cap earnings in percentage terms over the next year. Healthcare displayed very strong relative performance during the quarter, with biotech/pharma holdings seeing standout gains driven by positive clinical trial results and clinical approvals. The biotech ETF is making a new four year high as the sector broadly performed much better. AI capex and data center spending are expected to remain strong due to exponential demand growth for AI LLMs. However, a key risk involves potential delays in completing data centers from shortages in power generation, the grid and equipment, resulting in project postponements. Energy contributed positively with outperformance coming from strength in oil service and uranium miners. The portfolio maintains an overweight position in energy versus the benchmark, with exposure increasing during the quarter. | View | |
| 2022 Q3 | Aug 11, 2022 | Steel City Capital | -7.9% | -18.2% | ATEX, CVNA, LILA, NWSA, SATS, YELP | - | View | ||
| 2024 Q2 | Jul 19, 2024 | Recurve Capital | - | - | CCOI, CVNA | - | View | ||
| 2024 Q2 | Jul 16, 2024 | Optimist Fund | 27.8% | 49.2% | CVNA, DASH, MNDY, SMAR, UBER, W | - | View | ||
| 2023 Q1 | May 25, 2023 | Hayden Capital | 13.9% | 37.6% | CVNA, PDD | - | View | ||
| 2024 Q1 | Apr 25, 2024 | Recurve Capital | - | - | AWI, CVNA | - | View | ||
| 2023 Q4 | Feb 20, 2024 | Bronte Capital Amalthea Fund | -3.7% | 0.0% | BBBYQ, CVNA, HIBB, KRTX | - | View | ||
| 2022 Q4 | Feb 16, 2023 | Saga Partners | 22.6% | 39.4% | CVNA, RDFN | - | View | ||
| 2024 Q4 | Jan 20, 2025 | Optimist Fund | 11.6% | 66.5% | CVNA, DASH, HFG GR, RVLV, SWIM, TDUP, W, XPOF | - | View | ||
| 2024 Q4 | Jan 16, 2025 | Recurve Capital | - | - | AMZN, BC IM, CCOI, CVNA, RH, W | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Mar 21, 2026 | Fund Letters | Optimist Fund | Carvana Co. | Consumer Discretionary | Specialty Retail | Bear | NYSE | automotive, e-commerce, EBITDA margin, Online Sales, Record Results, turnaround, used car retail | View Pitch |
| Feb 26, 2026 | Fund Letters | Vinson Walden | Carvana Co. | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | New York Stock Exchange | ecommerce, Financing, Logistics, margin, marketshare, scale | View Pitch |
| Feb 21, 2026 | Fund Letters | Jordan McNamee | Carvana Co. | Consumer Discretionary | Automotive Retail | Bull | New York Stock Exchange | automotive, EBITDA, ecommerce, growth, Margins, profitability, scale, turnaround, Uniteconomics | View Pitch |
| Jan 24, 2026 | Fund Letters | Frank M. Sands | Carvana Co. | Consumer Discretionary | Specialty Retail | Bull | New York Stock Exchange | Credit, ecommerce, Inventory, Logistics, Margins, Refinancing, scale | View Pitch |
| Jan 24, 2026 | Fund Letters | Emerson Bluhm | Carvana Co. | Internet Retail | E-commerce Retail | Bull | New York Stock Exchange | ecommerce, Lending Margins, Logistics, scale, Unit growth | View Pitch |
| Jan 23, 2026 | Fund Letters | Matthew Kamm | Carvana Co. | Consumer Discretionary | Automotive Retail | Bull | New York Stock Exchange | Autos, ecommerce, Logistics, scale, Unit_economics | View Pitch |
| Jan 9, 2026 | - | Pratik Kodial | Carvana Co. | Consumer Discretionary | Automotive Retail | Bull | New York Stock Exchange | 19413, 21288, 21334, 21539, 36660 | View Pitch |
| Jan 8, 2026 | Fund Letters | Aaron Chan | Carvana Co. | Consumer Discretionary | Automotive E-Commerce | Bull | NASDAQ | Autos, deleveraging, ecommerce, Operatingleverage, turnaround | View Pitch |
| Jan 8, 2026 | Fund Letters | Jordan McNamee | Carvana Co. | Consumer Discretionary | Automotive Retail | Bull | New York Stock Exchange | Autos, ecommerce, growth, Margins, scale, turnaround | View Pitch |
| Dec 5, 2025 | Fund Letters | Brian Angerame | Carvana Co. | Consumer Discretionary | Automotive Retail | Bull | NYSE | Auto, ecommerce, growth, Margins, restructuring | View Pitch |
| Nov 29, 2025 | Fund Letters | Aaron Chan | Carvana Co. | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | NYSE | Autos, Digital retail, e-commerce, growth, turnaround | View Pitch |
| Nov 29, 2025 | Fund Letters | Jordan McNamee | Carvana Co. | Consumer Discretionary | Automotive Retail | Bull | NYSE | Auto retail, e-commerce, FCF, growth, leverage, Margins, scale | View Pitch |
| Nov 29, 2025 | Fund Letters | GEORGE SAKELLARIS | Carvana Co. | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | NASDAQ | Autos, Digital, e-commerce, growth, Margins, retail, Scalability | View Pitch |
| Nov 28, 2025 | Fund Letters | Jordan McNamee | Carvana Co. | Consumer Discretionary | Automotive Retail | Bull | NYSE | Auto retail, e-commerce, FCF, growth, leverage, Margins, scale | View Pitch |
| Nov 28, 2025 | - | Pratik Kodial | Carvana Co. | Consumer Discretionary | Automotive Retail | Bull | New York Stock Exchange | 19413, 21288, 21334, 21539, 36660 | View Pitch |
| Sep 16, 2025 | Short Thesis | Kerrisdale Capital | Carvana Co | Consumer Discretionary | Automotive Retail | Bear | NYSE | Auto, Governance, leverage, Margins, Online | View Pitch |
| Sep 16, 2025 | Short Thesis | Kerrisdale Capital | Carvana Co | Consumer Discretionary | Automotive Retail | Bear | NYSE | debt, Liquidity, Margins, Securitization, Used cars | View Pitch |
| Sep 16, 2025 | Short Thesis | Nate Anderson | Carvana Co | Consumer Discretionary | Automotive Retail | Bear | NYSE | Autos, cash burn, debt, retail, Subprime | View Pitch |
| Sep 16, 2025 | Short Thesis | Hindenburg | Carvana Co | Consumer Discretionary | Automotive Retail | Bear | NYSE | Credit, debt, Liquidity, Margins, Used cars | View Pitch |
| Aug 13, 2025 | Seeking Alpha | CAN Analyst | Carvana Co. | Consumer Discretionary | Auto & Truck Dealerships | Neutral | NYSE | — | View Pitch |
| Aug 13, 2025 | Seeking Alpha | Juxtaposed Ideas | Carvana Co. | Other | - | Bear | 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 |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||