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DAVA

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2023 Q3	Sep 30, 2023	Baron Global Advantage Fund	-6.1%	9.4%	ADYEN.AS, ARGX, BAJFINANCE.NS, CPNG, CRWD, DAVA, DDOG, FVRR, MELI, NET, NVDA, RIVN, SDGR, SHOP, SNOW, TSLA, VEEV, WIX, ZI	AI, Biotechnology, E-Commerce, global, growth, small caps, technology	NVIDIA continues to exceed projections with 94% revenue growth and 192% EPS growth expected for 2023, driven by accelerating demand for Generative AI. The company raised guidance multiple times during the quarter, demonstrating the strength of AI adoption across industries.	VTWIX CPNG	View
2025 Q2	Aug 7, 2025	Invesco Small Cap Value Fund	6.5%	0.2%	AL, COHR, DAVA, ENTG, EPAM, EWBC, GL, GLOB, HBM.TO, HOLX, LITE, MOH, MP, NRG, PAAS, PNFP, RMBS, SAIA, TEX, WAL, WBS	AI, Banking, energy, healthcare, Intrinsic Value, materials, small cap, value	The fund employs an intrinsic value approach to stock selection, seeking companies significantly undervalued on an absolute basis. At quarter end, the difference between market prices and estimated intrinsic value was attractive, indicating potential long-term capital appreciation. Following outperformance of large-cap stocks over small-cap stocks in recent years, the managers see greater long-term upside to intrinsic value in many small-caps compared to large-caps.	TEX SAIA	View
2025 Q2	Aug 23, 2025	Argosy Investors	-	-	DAVA, DFH, FERG, HOV, LLY, NVDA, NVO, POST, W	AI, Capital Allocation, Credit Stress, GLP1, Homebuilders, Portfolio Management, value	Detailed analysis of Tricolor subprime auto lender collapse and widespread fraud, highlighting how stability breeds instability in credit markets. Auto lending has deteriorated significantly since 2008 with higher LTVs, longer terms, and weaker underwriting standards.	NVO DAVA POST	View
2025 Q2	Aug 21, 2025	AMG GW&K Small Cap Core Fund	4.5%	-3.1%	CHX, CRDO, DAVA, FN, GPOR, HLI, INSM, INTA, IONQ, MCOM, RBC, SEI, SLGN, SPXC, STAG, STRL, TXRH, VIAV	AI, energy, growth, industrials, Natural Gas, small cap, technology, value	The fund discusses AI buildout as a secular theme driving market performance, with investors pushing all-in on AI-related investments. The manager believes the AI investment case is most likely to have durability and generate positive, estimable earnings for companies addressing hyperscaler needs. The fund added two new holdings with AI exposure in the energy sector.	SEI	View
2025 Q2	Jul 16, 2025	White Falcon Capital Management	17.6%	10.0%	AMD, ATZ.TO, CTS.TO, DAVA, DSEY, EPAM, MAXR.TO, NU, RGLD, ROVR, SSL.TO, T.TO, TIXT.TO, W	Acquisitions, AI, Canada, Gold Royalties, IT Services, technology, value, volatility	The fund experienced gains in gold and silver royalty holdings during Q2. Precious metal royalty companies represent the top positions in the White Falcon portfolio. The fund benefited from the acquisition of portfolio company Sandstorm Gold by Royal Gold at a 98% premium to their cost basis.	TIXT.TO DAVA EPAM W ATZ.TO	View
2024 Q2	Jun 30, 2024	Baron Global Advantage Fund	3.3%	6.9%	ADYEN.AS, ALAB, ARGX, ASML, CPNG, CRWD, DAVA, DDOG, FVRR, GLOB, INDI, MELI, NET, NVDA, RIVN, SHOP, SNOW, TMP, TSLA, WIX	AI, global, growth, healthcare, semiconductors, software, technology	The fund views AI as driving a new industrial revolution, with NVIDIA positioned as the AI generator creating tokens for every industry. The manager believes we remain early in AI adoption across industries and the race for Artificial General Intelligence continues with exponential demand growth for accelerated computing.	TXG NET SHOP CPNG CRWD NVDA	View
2024 Q1	Jun 25, 2024	Argosy Investors	10.6%	10.6%	DAVA, DEO, NVDA, TBBB	AI, Cash, Discount Retail, IT Services, Mexico, Valuations, value	Manager discusses extensive research in IT services dating back to 2017, highlighting the evolution from low-skilled infrastructure monitoring to customer-facing application development. The sector earns extremely high returns on capital and historically augments organic growth with acquisitions. Current investment in Endava represents exposure to this new generation of IT services focused on custom application development.	DEO TBBB DAVA	View
2024 Q1	May 9, 2024	Polen Capital – U.S. SMID Company Growth	8.8%	-1.3%	BMBL, CNM, CWA, DAVA, ETSY, EXLS, GLOB, GNRC, HLI, MKTX, PGNY, RVLV, SITM, TECH, TREX, WING, YETI	consumer, growth, Quality, Restaurants, SMID Cap, technology, Water Infrastructure	Polen emphasizes investing in high-quality businesses with robust free cash flow, persistent growth, and high returns on capital. They consistently aim to own companies that are undervalued relative to their long-term compounding potential and favor businesses with robust balance sheets and the ability to reinvest in any environment.		View
2024 Q1	May 9, 2024	Polen Capital – Global SMID Company Growth	7.4%	-2.4%	3697.T, 8069.TWO, CNM, CWAN, DAVA, EVD.L, FEVR.L, GLOB, JDG.L, PME.AX, REVG, TOI.TO, WIZZ.L	global, growth, infrastructure, IT Services, Quality, SMID Cap, software	The portfolio holds multiple IT services companies including Globant and Endava, both facing headwinds from cautious client spending on digital transformation. Despite near-term challenges, the managers maintain confidence in long-term secular trends driving digital transformation and AI integration.	3697.T DAVA GLOB CNM EVD.DE TOI.TO	View
2024 Q1	May 7, 2024	The London Company Small-Mid Cap	2.0%	4.8%	AWI, CABO, CHDN, DAVA, DECK, LANC, TREX, TTC	Balance Sheets, cash flow, Quality, rates, SMID Cap, value	The portfolio's Quality orientation continued to stand out down the market cap spectrum where earnings weakness was more pervasive. Strong balance sheets of companies—many with net cash—remained a significant advantage in this high rate environment. The manager sees greater opportunity for quality operators with durable cash flow generation, strong balance sheets and attractive shareholder yields in the years ahead.	TTC CABO CHDN DAVA LANC AWI DECK	View
2024 Q1	May 13, 2024	The London Company SMID Cap	9.2%	9.2%	AWI, CABO, CHDN, DAVA, DECK, LANC, TREX, TTC	AI, Balance Sheets, Quality, rates, SMID Cap, technology, value	The portfolio's Quality orientation continued to stand out down the market cap spectrum where earnings weakness was more pervasive. Company fundamentals continued to drive price, and the strong balance sheets of companies—many with net cash—remained a significant advantage in this high rate environment.	TTC CABO CHDN DAVA LANC AWI DECK	View
2024 Q1	Apr 29, 2024	White Falcon Capital Management	6.0%	8.5%	AMD, AMZN, ATZ.TO, CTS.TO, DAVA, FNV, LFCR, NU, TECK.TO	Canada, gold, IT Services, small caps, technology, value	Manager discusses IT service providers as good businesses that act as a royalty on IT spend, serving as an important link between technology and corporations. Sees favorable backdrop with rising technology investments, growing outsourcing trends, and emergence of AI. Endava and Converge represent significant positions in this space.	CTS.TO LCBM EQTL	View
2025 Q4	Mar 6, 2026	Argosy Investors	-	-	DAVA, EPAM, FND, HD, LLY, LOW, NVO	AI, Cyclical, Pharmaceuticals, retail, software, value	AI developments from major companies are causing rapid market changes and stock price volatility. AI is reshaping the investment landscape with massive capital being deployed for infrastructure, while creating uncertainty about whether it will enhance productivity or cause more disruptive economic impacts. The manager remains open-minded about AI's various potential development paths. Software companies are experiencing significant declines as the market reassesses AI impacts. Concerns include reduced seat-based revenue from efficiency gains, lower pricing power from AI-first competitors, and decreased new customer bookings. However, some software solutions may be less easily replaced by AI, particularly those requiring high security and user interconnectedness. The manager sold Novo Nordisk after brief ownership due to competitive disadvantages versus Eli Lilly. While NVO was attractive from a valuation perspective and first to market with oral GLP-1, LLY has a superior product and NVO's competitive position may weaken when LLY brings similar options to market. Floor & Decor represents an attractive long-term opportunity following the Home Depot disruption model in flooring retail. The company offers superior inventory selection and lower prices, taking market share consistently. Current margins are depressed but should recover as store base builds out and same-store sales normalize from post-COVID and interest rate headwinds.		View
2025 Q1	Mar 31, 2025	NCG Micro Cap Growth Strategy	14.8%	14.8%	ACVA, AGX, AGYS, ALHC, ALKT, ARQ, ATRO, CSTL, CVLG, DAVA, DCBO, FLYW, FROG, GDYN, HROW, IRTC, MRTN, NEO, OLO, PAL, PDFS, PYCR, SDHC, SMWB, TNDM	growth, healthcare, Micro Cap, small caps, technology, valuation	NCG emphasizes investing in what they believe are the fastest growing and highest quality companies in America. They maintain focus on fundamental growth drivers of each holding and seek companies that can grow revenue and profits at strong rates in any economic environment.		View
2024 Q1	Mar 31, 2024	Baird Small/Mid Cap Growth Equity Fund	1.9%	1.9%	BOOT, BROS, BSY, BWXT, CELH, CHDN, CNMD, CWAN, DAVA, DECK, DT, EXAS, FIVE, FOUR, GLBE, GLOB, GXO, HALO, ICLR, INSP, KAI, KNSL, KNX, LFUS, LGIH, LSCC, LW, MNDY, MSTR, MTDR, ONTO, PCOR, PEN, PODD, QDEL, RGEN, SAM, SITM, SMCI, SMPL, SWAV, TARS, TECH, TREX, VITA, WNS, WSO, XPEL	AI, growth, healthcare, Performance, semiconductors, small cap, technology	AI spending expectations drove significant outperformance in technology stocks, particularly benefiting companies like Super Micro Computer which investors view as the next Nvidia. The fund has limited direct AI exposure through Lattice Semiconductor and has not reached comfort levels on sustainable AI impact for many benchmark holdings. AI headwinds affected both technology and industrial sectors as datacenter and semiconductor manufacturing equipment companies saw outsized gains.		View
2024 Q4	Mar 11, 2025	Argosy Investors	-	-	ALNT, CDW, CSWI, DAVA, MSFT, NVDA, TOITF	AI, Buybacks, Data centers, small caps, technology, Utilities, value	Manager discusses cooling enthusiasm around AI following DeepSeek release and draws parallels to late 1990s telecom buildout. Notes AI's potential to reduce coding and marketing labor, which could impact companies like Endava.	CDW ALNT	View
2025 Q4	Feb 17, 2026	AMG GW&K Small Cap Core Fund	3.5%	7.2%	AEIS, AGIO, CIFR, CSWI, CVLT, DAVA, DSGX, FLYW, GMED, HUT, INTA, ITT, MTSI, PAR, QBTS, RARE, RBC, SATS, SF, SKY, SLG, SPXC, STRL, SUPN, THR, VIAV, WULF	healthcare, industrials, materials, Quality, small caps, technology, Trade Policy, value	The Russell 2000 Index delivered 12.8% returns for 2025 despite significant volatility, with a 23% drop by April followed by a 40% recovery. The small cap environment was characterized by narrow performance driven by low-quality, speculative stocks, with the top 25 contributors delivering over 50% of benchmark returns. The investment environment overwhelmingly favored lower quality stocks, with non-earners gaining 19.6%, negative equity stocks up 37.2%, and highest beta names advancing 26.1%. The fund's deliberate focus on higher-quality stocks with earnings support was a general headwind throughout the year. Artificial intelligence investment was a key area of market focus during 2025, though the fund questioned when investors would see returns from billions of dollars spent on AI infrastructure. The fund avoided speculative AI plays in favor of companies with more established fundamentals. Uncertain trade policy and the friction it added to the system was the biggest distraction during 2025. Companies now mostly have a sense of the rules of global trade and are adjusting, which could provide more stability going forward.		View
2023 Q4	Dec 31, 2023	NCG Small Cap Growth Strategy	4.8%	14.8%	BRZE, CSTL, CWAN, DAVA, FLYW, GWRE, KNSL, LGIH, MEDP, NTRA, SILK, TMDX, TNDM, VRRM	Biotechnology, Fed Pivot, growth, healthcare, market breadth, small caps	Small cap stocks underperformed large caps heading into the fourth quarter, with the Russell Microcap Growth Index down about 5% through Q3. However, market breadth broadened in November and December following the Fed pivot, with the Russell Microcap Growth Index returning 13.68% versus 4.42% for large caps. The rally was primarily led by low quality stocks and sectors most impacted by the Fed's restrictive stance.	CSTL TNDM ASIC\|CWAN\|INSP\|KRMN\|KTOS\|MAC\|MEG\|RH\|WYNN NTRA ARGX BB\|DAVA\|DDOG\|GLOB\|ILMN\|LOAR\|MELI\|NET\|NU\|NVDA\|TSM ACGL\|APH\|COO\|CSGP\|DKNG\|GWRE\|IDXX\|IOT\|IT\|LPLA\|MSCI\|MTD\|PCOR\|ROP\|TECH\|VRSK BRZE MEDP	View
2023 Q4	Dec 31, 2023	NCG SMID Cap Growth Strategy	4.8%	15.5%	BRZE, CSTL, CWAN, DAVA, DXCM, FLYW, GWRE, KNSL, LGIH, MEDP, NTRA, SILD, TMDX, TNDM, VRRM, VRT	Biotech, growth, healthcare, Medical Devices, small caps, technology	Healthcare holdings drove much of the underperformance across strategies due to investor perception that GLP-1 drugs will reduce medical interventions. Many healthcare companies began recovering in Q4 and the firm believes in long-term growth fundamentals. The firm continues direct research to inform investment decisions in this space.	DXCM MELI\|NFLX\|ORCL\|TCOM\|VRTX\|YUMC CSTL TNDM ASIC\|CWAN\|INSP\|KRMN\|KTOS\|MAC\|MEG\|RH\|WYNN NTRA ARGX BB\|DAVA\|DDOG\|GLOB\|ILMN\|LOAR\|MELI\|NET\|NU\|NVDA\|TSM ACGL\|APH\|COO\|CSGP\|DKNG\|GWRE\|IDXX\|IOT\|IT\|LPLA\|MSCI\|MTD\|PCOR\|ROP\|TECH\|VRSK BRZE MEDP	View
2023 Q4	Dec 31, 2023	Baird Small/Mid Cap Growth Equity Fund	7.8%	10.9%	BJ, BOOT, BSY, BWXT, COCO, CWAN, DAVA, DECK, DSGX, DT, EXLS, FIVE, FND, FOUR, GLOB, GNRC, GTLS, HALO, IEX, INSP, KAI, KNSL, LGIH, LSCC, LW, MTZ, NEO, NSA, PCTY, PODD, POOL, PTC, PWSC, RBC, RVNC, SAM, SWAV, TREX, TTC, TYL, WNS, WSO	financials, growth, healthcare, industrials, rates, small cap, technology	Lower-than-expected inflation report in late October led markets to declare an end to Fed tightening and begin discounting multiple rate cuts in 2024. Interest-rate-sensitive stocks rallied sharply late in the quarter, benefiting housing-related and financial stocks. The changed outlook on rates drove significant market movements throughout the quarter.		View
2023 Q4	Dec 31, 2023	Baron Global Advantage Fund	14.7%	25.3%	3690.HK, AAPL, ADYEN, AMZN, ARGX, ASML, BILL, BJFNF, CPNG, CRWD, DAVA, DDOG, EPAM, FVRR, GLOB, GOOGL, INPST, MELI, META, MSFT, NET, NVDA, SHOP, SNOW, SQ, TSLA, WIX, ZI, ZS	AI, Cloud, cybersecurity, Digitization, E-Commerce, global, growth, technology	GenAI is creating an inflection point that benefits many portfolio companies beyond just NVIDIA. Enterprises are accelerating digitization trends to benefit from GenAI, with less than 10% of companies having mature data and AI capabilities. This trend should be a tailwind for businesses that enable or benefit from digitization such as cybersecurity, infrastructure monitoring, and data platforms.		View
2023 Q3	Dec 26, 2023	Bonsai Partners	0.0%	-3.3%	ACN, CTSH, DAVA, EPAM, G, GLOB, NA9.DE, QCOM, TSM, TWKS, WIT	AI, IT Services, Robustness, semiconductors, technology, Value Investing	Manager emphasizes seeking robust businesses that spread risks across value chains or own key processes outright, avoiding fragile companies with single points of failure. Robust companies with pragmatic leadership are purpose-built to survive difficult terrain and act as hedges against unknowable risks.		View
2023 Q2	Dec 7, 2023	White Falcon Capital Management	6.0%	8.5%	AMD, AMZN, ATZ.TO, CTS.TO, DAVA, EPAM, NU, TECK.TO, WPM	AI, Brazil, gold, IT Services, Mining, semiconductors, technology, value	Manager views AI as a significant catalyst for technology companies and believes IT services providers like EPAM will be key enablers of corporate AI adoption. Discusses how AI helped investors get comfortable with future earnings growth in tech companies and argues against the narrative that AI will hurt IT services companies.	EPAM WPM AMZN AMD ARGX BB\|DAVA\|DDOG\|GLOB\|ILMN\|LOAR\|MELI\|NET\|NU\|NVDA\|TSM	View
2025 Q3	Oct 30, 2025	Argosy Investors	-	-	DAVA, DFH, FERG, HOV, NVDA, NVO, POST, W	AI, Consumer Staples, Credit Stress, GLP1, Homebuilders, technology, value	Detailed analysis of subprime auto lender Tricolor's collapse due to fraudulent collateral pledging practices. Discussion of how post-2008 lending standards deteriorated in auto loans with higher LTVs, longer terms, and weaker underwriting. Highlights how stability breeds instability per Minsky's theory.	DFH NVO DAVA POST DFH NVO DAVA POST	View
2024 Q3	Oct 21, 2024	White Falcon Capital Management	6.0%	8.5%	AMZN, CVO.TO, DAVA, EPAM, FNV, NU, PGO, RTO.L	AI, Cloud, digital transformation, gold, IT Services, Precious Metals, value	Gold has been one of the top-performing assets, up 31.4% YTD, driven by persisting debt and deficits in the West and geopolitical tensions. The fund holds precious metals royalty companies as a hedge against macroeconomic uncertainties, viewing gold as a benchmark of value since the beginning of money.	DAVA	View
2025 Q3	Oct 20, 2025	White Falcon Capital Management	10.8%	21.9%	AFN.TO, AMD, DAVA, EPAM, FNV, NFI.TO, NU, SSL.TO, TFPM, TIXT	Agriculture, AI, gold, Quality, royalties, technology, value	Gold and silver royalty names performed very well thanks to recent strength in metal prices. The manager's preferred vehicle for investing in gold has been royalty companies, which are high quality businesses offering diversification, yield, and option value. Positions in Franco-Nevada, Triple Flag, and Sandstorm Gold have more than doubled since March 2024, leading to position trimming due to parabolic price moves.	AFN CN DAVA EPAM NU NFI CN AMD SSL CN TFPM CN FNV CN FNV CN	View
2025 Q4	Jan 5, 2026	Night Watch Investment Management	-	-	ALLFG, DAVA, DSGR, HAYPP, MRX, WDC	catalysts, global, insider ownership, Rerating, value	The update highlights a global value strategy centered on identifiable catalysts, insider ownership, and unique holdings with limited benchmark overlap. Geographic and sector diversification complements an emphasis on reratings driven by earnings inflection, corporate actions, and industry recovery. Value investing is positioned as most effective when paired with patience, research depth, and catalyst discipline.	DAVA MRX	View
2024 Q2	Jul 24, 2024	Polen Capital – U.S. Small Company Growth	7.4%	-0.9%	AAON, AIT, ALIT, APPF, BL, CCCS, DAVA, DOXI, HELE, HLNE, IBP, OPCH, PGNY, RGEN, RH, ROAD, RVLV, SITM, SMCI, WING, WRBY, XPEL	growth, healthcare, Quality, rates, small caps, technology, volatility	The performance gap between small caps and large caps continued to widen during Q2, with small cap investors retreating to lower-volatility sectors. Small cap continues to be highly sensitive to shifting rate expectations, while leadership in large cap remains narrow and driven by momentum.		View
2023 Q2	Jul 23, 2023	Argosy Investors	10.6%	10.6%	DAVA, GDYN, OLLI, TWKS, ZROZ	Cash, Defensive, interest rates, IT Services, risk management	Manager maintains extremely defensive positioning with 52% cash, emphasizing risk control over aggressive deployment. Believes current environment warrants heightened caution due to interest rate impacts that haven't fully materialized in the economy yet.	ZROZ ARGX BB\|DAVA\|DDOG\|GLOB\|ILMN\|LOAR\|MELI\|NET\|NU\|NVDA\|TSM	View
2024 Q2	Jul 22, 2024	The London Company Small-Mid Cap	2.0%	4.8%	AER, BRKR, CHDN, DAVA, DECK, HAS, LW, MBI, MUSA, NEU, QLYS, TREX	Consumer Staples, cybersecurity, healthcare, Quality, small caps, value	The portfolio focuses on high quality businesses with strong balance sheets, high ROIC, and improving margins. The manager emphasizes owning great businesses at reasonable prices and allowing them to compound over the long term.	QLYS BRKR	View
2024 Q2	Jul 17, 2024	White Falcon Capital Management	6.0%	8.5%	AMZN, ATZ.TO, CTS, CVX, DAVA, EPAM, FTRE, NU, NVDA, OXY, RTO.L, WBD	AI, IT Services, Quality, small caps, technology, value	AI is the new technology trend with investor emphasis on hardware investment. As hardware becomes widespread, focus will shift to creating and optimizing AI applications where EPAM and Endava will benefit. However, AI is still new and clients need time to identify best use cases, leading to cautious wait-and-see approach suppressing current IT services demand.	RTO.L ATZ.TO	View
2022 Q2	Jun 30, 2022	Baron Discovery Fund	13.5%	9.3%	ALKT, ASGN, CDAY, CWAN, DAVA, DH, ESTA, GTLB, GWRE, MEG, PGNY, REXR, SAIL	-			View
2025 Q1	Apr 21, 2025	White Falcon Capital Management	-6.7%	-6.7%	CTS.TO, DAVA, EPAM, GRFS, NFI.TO, NU, RTO.L	Biotechnology, global, gold, IT Services, small caps, tariffs, Trade Policy, value	President Trump's unexpected tariff announcements created significant market volatility and uncertainty. Tariffs as high as 145% on China essentially amount to an embargo, with unclear reasoning behind the policy. The manager believes these destructive policies will likely be reversed or negotiated away before causing lasting damage.	GRFS	View
2023 Q4	Jan 23, 2024	The London Company SMID Cap	9.2%	9.2%	BR, CABO, DAVA, DECK, HAS, HAYW, MBI, TREX, WTM	consumer discretionary, Quality, rates, small caps, value, volatility	The manager emphasizes quality as the antidote to uncertainty, believing solid company fundamentals will lead to strong risk-adjusted returns in the long run. Portfolio characteristics remain attractive and well-positioned for an uncertain future.	ARGX BB\|DAVA\|DDOG\|GLOB\|ILMN\|LOAR\|MELI\|NET\|NU\|NVDA\|TSM CABO ADI\|BDX\|FI\|FND\|HAS\|META\|MSFT\|MSI\|ORCL\|TMO AER\|AWI\|MUSA\|NEU\|SAIA\|WTM TREX DECK KAMBI SS	View
2024 Q4	Jan 17, 2025	White Falcon Capital Management	5.5%	14.4%	AMD, AMZN, ATZ.TO, CTS.TO, DAVA, EPAM, NFI.TO, NU, PRGO, RTO.L, VALE, XEQT.TO	Brazil, Pharmaceuticals, small caps, technology, turnaround, value	White Falcon gravitates towards opportunities with low expectations and low valuations, particularly in smaller companies left behind in the market rally. The portfolio has shifted more towards 'value today' positioning with significant margin of safety.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Argosy Investors	Endava plc	Information Technology	IT Services	Bull	NYSE	AI disruption, contrarian, IT services, Mean Reversion, operating margins, Self-Help Story, Technology Consulting, Trough Valuation	View Pitch
Apr 13, 2026	Fund Letters	Polen Capital - Global SMID Company Growth	Endava	Information Technology	IT Consulting & Other Services	Bull	NYSE	contrarian, Digital transformation, financial services, IT services, Payments, UK-Based, value opportunity	View Pitch
Apr 13, 2026	Fund Letters	The London Company SMID Cap	Endava plc	Information Technology	IT Consulting & Other Services	Bull	NYSE	Consulting, financial services, IT services, Offshore Outsourcing, Payments, strategic pivot, technology, Vertical Concentration	View Pitch
Apr 13, 2026	Fund Letters	White Falcon Capital Management	Endava plc	Information Technology	IT Services	Bull	NYSE	Artificial Intelligence, Competitive pressure, Digital transformation, Enterprise Technology, IT services, Legacy Modernization, Project Volume Growth	View Pitch
Apr 13, 2026	Fund Letters	Invesco Small Cap Value Fund	Endava plc	Information Technology	IT Consulting & Other Services	Bull	NYSE	Artificial Intelligence, Cloud software, Cyclical, Digitization, IT services, Technology Consulting, UK	View Pitch
Apr 13, 2026	Fund Letters	The London Company Small-Mid Cap	Endava plc	Information Technology	IT Consulting & Other Services	Bull	NYSE	acquisition, Client Spending, financial services, information technology, It consulting, Offshore Outsourcing, Payments, strategic pivot	View Pitch
Apr 13, 2026	Fund Letters	Argosy Investors	Endava plc	Information Technology	IT Consulting & Other Services	Bull	NYSE	Artificial Intelligence, Custom Application Development, Cyclical Recovery, Digital transformation, High Returns on Capital, IT services, post-COVID recovery, Project-Based, Time-and-Materials	View Pitch
Apr 13, 2026	Fund Letters	White Falcon Capital Management	Endava PLC	Information Technology	IT Consulting & Other Services	Bull	NYSE	AI implementation, cloud migration, Cyclical Recovery, Digital transformation, Equity, financial services, founder-led, healthcare, IT services, Outsourcing, turnaround, UK	View Pitch
Jan 8, 2026	Fund Letters	Roderick van Zuylen	Endava plc	Information Technology	IT Services	Bull	New York Stock Exchange	AI, Itservices, Margins, turnaround, valuation	View Pitch
Nov 29, 2025	Fund Letters	Balkar Silvia	Endava Plc.	Information Technology	IT Services	Bear	NYSE	AI, Digital transformation, Execution, financial services, IT services, risk management	View Pitch
Nov 29, 2025	Fund Letters	Mike Loeb	Endava plc	Information Technology	IT Consulting & Other Services	Bull	NYSE	Digital transformation, M&A optionality, Margin recovery, Multiple re-rating, Utilization	View Pitch
Nov 28, 2025	Fund Letters	Mike Loeb	Endava plc	Information Technology	IT Consulting & Other Services	Bull	NYSE	Digital transformation, M&A optionality, Margin recovery, Multiple re-rating, Utilization	View Pitch

BSD Shareholders of DAVA

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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