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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | May 13, 2024 | The London Company Small Cap | 7.0% | 8.9% | AWI, CABO, CERT, DOOR, MATX, MBUU, QLYS, TPX, VNT | AI, industrials, Quality, rates, small caps, technology, value | The portfolio's Quality orientation continued to stand out in the small cap space where earnings weakness was more pervasive. Strong balance sheets of portfolio companies, many with net cash, remained a significant advantage in the high rate environment. The manager seeks profitable, financially stable companies that consistently generate free cash flow and high returns on unleveraged operating capital. | CERT QLYS CABO AWI VNT |
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| 2024 Q1 | Apr 23, 2024 | ClearBridge Investments Small Cap Growth Strategy | 0.0% | 0.0% | CNMD, DOOR, DUOL, ELF, FWRD, IART, INSM, INTA, IRDM, MEDP, MSTR, OC, OMCL, RDNT, SMCI, TMO, TREX, VKTX, WING, XPO | AI, Biotechnology, growth, healthcare, small cap, technology | AI infrastructure build-out has had a narrow set of beneficiaries, with enthusiasm for AI fueling atypical concentration and performance distortion in the benchmark. RadNet has invested heavily in newer AI applications that can provide an additional revenue stream while improving early identification of cancers. | ELF DUOL INTA INSM MEDP RDNT CNMD VKTX |
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| 2023 Q3 | Dec 10, 2023 | Longleaf Partners Small-Cap Fund | 8.9% | 11.5% | BATRA, CNX, DOOR, ESRT, GHC, GRUMAB, KODK, LUMN, MAT, OSCAR, SAM, WEST, WTM | consumer, discount, energy, Entertainment, Quality, small caps, value | Small-cap stocks remained out of favor as they continue to be viewed as more volatile, cyclical businesses, while a small handful of US mega-cap stocks have dominated markets. This wide valuation gap has created a compelling opportunity to own high-quality small-cap businesses trading at a steep discount. | WEST OSCR AMAT SAM CNX |
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| 2024 Q2 | Jul 22, 2024 | The London Company Small Cap | 7.0% | 8.9% | ACIW, AUB, CERT, CNNE, DOOR, DV, ENOV, EPRT, GTES, HAE, MATX, MBUU, MRTN, MUSA, NEU, PLUS, TPX | downside protection, free cash flow, Quality, Russell 2000, small caps, value | The portfolio focuses on small-cap equities with emphasis on quality, low volatility, and downside protection. The Russell 2000 Small Cap Index declined 3.3% during the quarter while the portfolio fell 5.8%. The manager notes that small caps faced headwinds as investors favored large cap, growth and momentum factors. | DV GTES |
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| 2025 Q1 | Apr 14, 2025 | Miller Value Partners Deep Value Strategies | -12.8% | -12.8% | DOOR, GCI, GTN, JELD, NBR, NYT, OC, QUAD, UNFI | Media, opportunity, small caps, uncertainty, value, volatility | Manager emphasizes deep value investing approach, highlighting that lower valuation securities continue to have lower representation in passive indexes and are under-owned. Portfolio holdings are trading at historically attractive valuations with average less than 1.5x cash flow, price to sales less than 0.2x and normalized earnings and free cash flow greater than 30%. | JELD NBR GCI GTN |
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| 2023 Q4 | Jan 23, 2024 | The London Company Small Cap | 7.0% | 8.9% | AUB, AWI, CABO, DOOR, LIVN, MUSA, PLUS, QLYS, RVLV, TPX, WTM | Banking, industrials, Quality, small cap, technology, value | The portfolio maintains a positive tilt toward Quality factors, focusing on companies with sustainably high returns on capital and balance sheet strength. This Quality-orientation provided relative advantage for the full year despite being a headwind in Q4. | RVLV PLUS |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| 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. | ||||||||