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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 22, 2025 | Harding Loevner International Small Companies Equity | 16.7% | 18.6% | 3697 JP, 4527 JP, ATE FP, CYBR, GLOB, REY IM | growth, international, moats, small caps | 3697 JP 4527 JP GLOB CYBR |
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| 2025 Q2 | Jul 17, 2025 | Harding Loevner Global Small Companies | 10.6% | 7.2% | 3697 JP, CYBR, ENS, G24 GR, GLOB, MAXF IN | AI Adoption, Competitive Advantage, innovation, productivity, small caps | The letter emphasizes AI as a potential equalizer for small companies, enabling productivity gains, new services, and competitive leapfrogging. Management focuses on firms with strong leadership, balance sheets, and reinvestment discipline that can harness AI effectively. Small-cap innovation is positioned as underappreciated. | CYBR GLOB |
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| 2024 Q4 | Dec 31, 2024 | Baron Opportunity Fund | 11.9% | 39.9% | ANET, CYBR, LPLA, MSFT, NARI, NVDA, TSLA, VKTX | - | View | ||
| 2025 Q3 | Oct 9, 2025 | Brown Capital Management International All Company Fund | -4.5% | 6.7% | 3064 JP, CYBR, DSY FP, MNDY, SHOP | Artificial Intelligence, Growth Stocks, innovation, long-term, software | Brown Capital underperformed benchmarks as software names lagged during a value-led quarter but reiterated conviction in Exceptional Growth Companies. Holdings like Dassault Systèmes, Shopify, and CyberArk demonstrate long-term scalability and integration of AI into mission-critical workflows. The firm continues investing in innovation and AI infrastructure to enhance its research edge. | View | |
| 2024 Q3 | Oct 30, 2024 | Baird Small/Mid Cap Growth Equity Fund | 6.9% | 2.7% | ALAB, BMI, BSY, CACI, CYBR, LW | - | View | ||
| 2025 Q4 | Jan 21, 2026 | TimesSquare Capital Management U.S. FOCUS Growth Equity Strategy | -3.8% | 13.9% | APH, COR, CRS, CYBR, EME, HUBS, IBKR, LNG, ORLY, PANW, PFGC, TPG, VEEV, VRSK | defense, energy, financials, growth, healthcare, industrials, mid cap, technology | The portfolio initiated a position in Karman Holdings, a missile systems design and manufacturing specialist. The company is well-positioned as a vital picks-and-shovels provider in the defense and commercial space industries, supporting defense stockpile replenishment, commercial satellite constellation expansion, and major Department of Defense investments in hypersonic and air defense systems. The manager anticipates a significant acceleration in AI adoption as 2026 unfolds. This represents a key forward-looking catalyst that could drive investment opportunities across the technology sector. The manager is currently awaiting a Supreme Court decision on the Trump Administration's tariffs and expects potential pivots toward alternative trade enforcement frameworks. The implementation of the One Big Beautiful Bill is projected to drive higher consumer tax refunds and catalyze corporate capital spending. The portfolio holds CyberArk Software, an access security solutions provider, which reported strong third quarter results. The stock is closely linked to Palo Alto Networks following its acquisition offer, demonstrating the consolidation dynamics in the cybersecurity sector. | HUBS APH KRMN VEEV IBKR |
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| 2023 Q1 | Mar 31, 2023 | Wasatch Small Cap Growth Strategy | 7.6% | 7.6% | CYBR, FIVE, GDYN, INSP, MEDP, PCTY | - | View | ||
| 2022 Q4 | Mar 3, 2023 | Harding Loevner Global Small Companies | 7.8% | 4.1% | 0H7S LN, BGEO LN, CYBR, DPH LN, LELA GR, TOM NO, VAYA GR | - | View | ||
| 2023 Q4 | Jan 31, 2024 | Harding Loevner International Small Companies Equity | 9.1% | 4.8% | 4975 JP, CHYHY, CYBR, KWS LN, MEGACPO M, SMS LN, TOM NO, YOU LN | - | View | ||
| 2023 Q4 | Jan 31, 2024 | Harding Loevner Global Small Companies | 7.8% | 4.1% | 4919 JP, CYBR, KWS LN, MGPI, MISUN MM, NBIX, TOM NO, YOU LN | - | View | ||
| 2023 Q1 | Jan 25, 2023 | Baron Discovery Fund | 13.5% | 9.3% | AXNX, AXON, CERT, CYBR, DKNG, FND, GTLB, INDI, MEG, NARI, NVTS, RVNC, SILK, SITM, VRAY | - | View | ||
| 2022 Q4 | Jan 3, 2023 | Wasatch Small Cap Growth Strategy | 7.6% | 7.6% | BOOM, CYBR, FIVE, FOXF, GDYN, ISNP, MEDP, PCTY | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 8, 2026 | Fund Letters | Christopher Mack | CyberArk Software Ltd. | Information Technology | Systems Software | Bull | NASDAQ | AI, Identity, Privilege, Recurring, Security, Software | View Pitch |
| Jan 8, 2026 | Fund Letters | Jafar Rizvi | CyberArk Software Ltd. | Information Technology | Systems Software | Bull | NASDAQ | AI, cybersecurity, Identity, Recurring, Regulation, Software | 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. | ||||||||