DCO

DCO

DCO

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 27, 2025	Diamond Hill Small Cap Fund	11.8%	-1.1%	BA, COOP, DCO, FIP, HURC, LEU, MLAB, OEC, RHP, RRR, TBK, USLM	AI, defense, materials, nuclear, small caps, technology, value	AI-fueled boom had widespread effects across sectors, with technology companies continuing their torrid run as sentiment around AI's potential to radically change life remains high. Nuclear fuel provider Centrus Energy is benefiting from renewed interest in nuclear power to support growing power demand tied to the AI boom.	HURC MLAB FIP DCO USLM RRR LEU COOP AEO ASUR STRW FBIN AZZ UTZ NSP DCO LEU	View
2025 Q2	Jul 17, 2025	Rewey Asset Management	6.1%	-1.3%	DCO, HOLX, LAKE, OFIX	active, defense, Medical Devices, small caps, SMID, undervalued, value	Manager believes small and SMID caps remain neglected and undervalued with many names fitting criteria for long-term selection. Active stock selection is appropriate for smaller caps due to limited liquidity in ETFs, ability to avoid weaker companies, and vast under-researched universe with over 5000 equities providing alpha generation opportunities.	OFIX LAKE DCO OFIX LAKE DCO	View
2026 Q1	Apr 28, 2026	Diamond Hill Small Cap Fund	3.4%	3.4%	DCO, FA, KN, LYTS, MGY, ODC, PAL, PRGS, RRR, UTZ	AI, defense, energy, Geopolitical, healthcare, infrastructure, oil, small caps		KN LYTS UTZ PAL RRR ODC DCO	View
2024 Q1	Apr 15, 2024	Cove Street Capital Small Cap Value Fund	3.7%	-6.0%	CLMB, CMP, DCO, GLDD, HNRG, LFCR, LTRPA, OUT, PKE, RDVT, SSP, TBRG, TRI, TRU, VSAT, WMT	aerospace, healthcare, Media, small caps, technology, value	Manager emphasizes seeking better businesses at reasonable prices, making rational purchase decisions from pessimistic sellers. Notes that the more Graham-style value opportunities exist, the more neglect there seems to be in the market.	RDVT TBRG PKE	View
2024 Q1	Apr 15, 2024	FPA Queens Road Small Cap Value Fund	7.5%	8.2%	AAN, AEL, AGCO, ALTM, ARW, AX, CNO, CNXC, CSGS, CSWI, DAR, DCO, DECK, ESGR, FN, GGG, GIII, JBT, LEVI, MDU	Balance Sheet, compounders, Quality, small cap, valuation, value	The fund emphasizes high-quality compounders with strong balance sheets, high returns on capital, and steady margins. Quality has been a large contributor to outperformance during market downturns. The manager prefers companies where earnings will be higher in three to five years.		View
2025 Q1	Mar 31, 2025	Rewey Asset Management	-7.0%	-7.0%	AEM, BA, DCO, PDCO, RTX, WDOFF, ZYXI	aerospace, defense, gold, small caps, SMID, tariffs, Trade Policy, value	Trump's tariffs represent the dominant market theme in Q1 2025, creating uncertainty about negative economic impacts. The manager views tariffs as Trump's method to reduce budget deficit and spur domestic production, but believes Trump will ultimately seek deals rather than maintain high tariff levels.	DCO ZYXI AEM	View
2023 Q2	Dec 7, 2023	Cove Street Capital Small Cap Value Fund	3.7%	-6.0%	AAP, ALC, ANGI, AZO, DCO, DELL, GBLI, GLDD, IAC, LFCR, LTRPA, MGM, MPAA, ORLY, SCWX, SNEX, SSP, TRIP, VSAT	aerospace, Concentration, infrastructure, Media, small cap, technology, value	Manager views AI as a marketing term with unclear monetization prospects. Notes that market activity in 2023 has been driven by large tech stocks attaching themselves to the AI bandwagon, but emphasizes there is nothing remotely clear about making money in AI.		View
2025 Q3	Oct 28, 2025	abrdn U.S. Small Cap Equity Fund	5.1%	8.3%	ANIP, DCO, EAT, FIVN, GPK, IAS, KBH, KN, KNSA, LGND, MTRN, NOG, QTWO, SMRT, SNEX, VERX, VIAV, WNS	Biotechnology, defense, infrastructure, Onshoring, Quality, small caps, US	The fund focuses exclusively on US small-cap stocks, with performance measured against the Russell 2000 Index. The manager remains optimistic about the long-term outlook for domestic small-cap stocks despite recent market turbulence. The strategy emphasizes higher-quality businesses that offer resilience to mitigate macroeconomic headwinds.		View
2025 Q3	Oct 24, 2025	Diamond Hill Small Cap Fund	7.9%	6.7%	COOP, DCO, FIP, HURC, LEU, MLAB, OEC, RHP, RRR, TFIN, USLM	AI, defense, nuclear, Quality, small caps, value	The artificial intelligence boom had widespread effects across sectors in Q3, with materials up 25% and technology up over 16%. Technology companies continued their torrid run as sentiment around AI's potential to radically change life remains high. Nuclear fuel provider Centrus Energy is benefiting from renewed interest in nuclear power to support growing power demand tied to the AI boom.	FTAI DCO USLM RRR LEU COOP LEU COOP	View
2023 Q3	Sep 30, 2023	Diamond Hill Small Cap Fund	8.5%	12.2%	ALGT, CALM, CIVI, DCO, ENOV, FTAI, HAYN, LANC, LEU, LOB, MLR, PRGS, RMNI, RRR	defense, energy, financials, nuclear, small caps, technology, value	Energy was the best performing sector in Q3 on the back of rising oil prices, notching a positive quarter at 19%. Oil prices rose against a backdrop of OPEC+ production cuts, benefiting holdings like Civitas Resources which saw earnings recover and share price rebound accordingly.	LAS/A CN\|MLR\|MNRO\|NGS\|WHGLY\|WLY ADCO CALM CIVI	View
2024 Q2	Jul 31, 2024	FPA Queens Road Small Cap Value Fund	7.5%	8.2%	AAN, AGCO, ALTM, ARW, AX, BAM, CNO, CNXC, CSGS, CSWI, DAR, DCO, DECK, EQC, ESGR, FN, FSTR, GGG, GIII, GPK	active management, earnings, Quality, small caps, value	The fund emphasizes quality companies with consistent earnings and high returns on capital. They analyze earnings consistency as a key quality metric, showing that quality small-cap companies trade at lower valuations than large-cap peers with similar quality characteristics.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
May 1, 2026	Fund Letters	Diamond Hill Small Cap Fund	Ducommun	Aerospace & Defense	Aerospace & Defense	Bull	New York Stock Exchange	Aerospace, Defense, Defense Contractor, engineered products, manufacturing, margin expansion, Missiles, Pentagon Spending, Pricing power	View Pitch
Apr 13, 2026	Fund Letters	Diamond Hill Small Cap Fund	Ducommun	Industrials	Aerospace & Defense	Bull	NYSE	737 Max, Aerospace, Aerostructures, Boeing Supplier, Defense, geopolitical tensions, Missile Programs	View Pitch
Apr 13, 2026	Fund Letters	Rewey Asset Management	Ducommun	Industrials	Aerospace & Defense	Bull	NYSE	Aerospace, Airbus, Boeing, Commercial Aviation, Defense, margin expansion, Military Spending, NATO, Vision 2027	View Pitch
Apr 13, 2026	Fund Letters	Rewey Asset Management	Ducommun Inc.	Industrials	Aerospace & Defense	Bull	NYSE	Aerospace, Airbus, backlog, Boeing, Commercial Aviation, Defense, Equity, Military, NATO	View Pitch
Jan 8, 2026	Fund Letters	Chip Rewey	Ducommun Incorporated	Industrials	Aerospace & Defense	Bull	New York Stock Exchange	Aerospace, backlog, Defense, Margins, Upcycle	View Pitch
Dec 5, 2025	Fund Letters	Chris Welch	Ducommun Incorporated	Industrials	Aerospace & Defense	Bull	NYSE	Aerospace, backlog, Defense, leverage, Margins	View Pitch
Nov 29, 2025	Fund Letters	Chris Welch	Ducommun Inc.	Industrials	Aerospace & Defense	Bull	NYSE	Aerospace, backlog, Boeing, Defense, leverage, Missiles, Production	View Pitch
Aug 7, 2025	Seeking Alpha	Rewey Asset Management	Ducommun Incorporated	Industrials	Aerospace & Defense	Bull	NYSE	—	View Pitch

BSD Shareholders of DCO

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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