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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q4 | Feb 7, 2025 | Emeth Value Capital | - | 28.5% | DRVN, SEAT, UA | Concentrated Portfolio, Entertainment, Event Ticketing, Expectations, marketplaces, Reflexivity, Value Investing | Extensive analysis of Vivid Seats as a secondary ticketing marketplace with 20% US market share. The live events industry has grown faster than GDP for 34 of the last 40 years. Secondary ticketing represents $17 billion annually with 20% commission rates versus primary's $45 billion at 5-7% rates. | View | |
| 2024 Q4 | Dec 31, 2024 | Baron Small Cap Fund | -1.1% | 13.3% | ALTR, ASGN, AZPN, BFAM, BLD, CAKE, DRVN, FOXF, FROG, GDYN, GTLS, GWRE, HLI, HQY, IBP, ICLR, INTA, IT, JBT, KNSL, NEOG, NPO, PLNT, RRR, TDG, VRT | AI, Data centers, growth, industrials, long-term, small caps, technology | AI-related data center buildout is driving extraordinary demand for Vertiv's power and cooling solutions. The company raised organic sales guidance to 12-14% CAGR for the next five years, benefiting from enormous capital investment in data centers to enable AI applications. JFrog is also positioned to benefit as generative AI adoption accelerates, driving the need to manage new binary types and increasing overall application complexity. | View | |
| 2025 Q3 | Oct 10, 2025 | Headwaters Capital Management, LLC | -2.9% | -5.4% | AMD, AMZN, BSY, BYD, DRVN, GOOGL, INSP, MEDP, META, MSFT, NVDA, ORCL, VVV | AI, Auto Aftermarket, Biotechnology, Bubble, Capex, mid cap, value | Manager believes AI infrastructure spending represents a massive capital cycle similar to telecom buildout in late 1990s, with hyperscalers spending $405B annually by 2026. Views current AI investment as unsustainable earnings bubble driven by elevated CAPEX rather than valuation bubble. Cites Oracle-OpenAI $300B contract as example of irrational economics requiring OpenAI to reach Google Search scale in two years. | View | |
| 2023 Q3 | Sep 30, 2023 | TimesSquare Capital Management U.S. Small Cap Growth Strategy | 6.2% | 0.0% | ALGM, BJ, CWAN, CWST, DRVN, EME, HCP, HLNE, HQY, INSP, KRYS, LESL, MODG, NEWR, PLNT, PRAA, RETA, TMCI, VERX | Biotechnology, consumer, growth, healthcare, industrials, small cap, technology | While cloud adoption is still nascent, many businesses slowed spending earlier this year as part of cost-cutting measures. Companies are now in better financial positions and beginning to reengage with cloud initiatives, with green shoots noted by some holdings. | View | |
| 2023 Q3 | Sep 30, 2023 | TimesSquare Capital Management U.S. Small/Mid Cap Growth Strategy | 5.9% | 5.9% | ALGM, BJ, DRVN, EME, GFL, HCP, HLNE, HQY, INSP, LESL, MODG, MTSI, NEWR, PHR, PLNT, PRAA, RETA, STVN, TPG | consumer, financials, growth, healthcare, industrials, small cap, technology | While cloud adoption is still nascent, businesses slowed spending earlier this year as part of cost-cutting measures. Companies are now in better financial positions and beginning to reengage with cloud initiatives, with green shoots noted by some holdings. | View | |
| 2022 Q2 | Jun 30, 2022 | Baron Small Cap Fund | 9.6% | 14.5% | ASGN, CGNX, COLD, DRVN, GDYN, GTLS, IT, SHLS, SPT | - | View | ||
| 2023 Q4 | Jan 30, 2024 | Emeth Value Capital | 0.0% | 6.9% | DRVN | Automotive, Consolidation, Franchising, small cap, value | Manager emphasizes buying companies at extremely cheap valuations where fundamental buyers have disappeared due to passive investing. Strategy focuses on companies trading at 5x earnings that return cash through dividends and buybacks, building portfolios so cheap and unloved it will be difficult to lose. | DRVN |
View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Emeth Value Capital | Driven Brands Holdings Inc. | Consumer Discretionary | Automotive Retail | Bull | NASDAQ | Auto Glass, Automotive Services, Car wash, Collision Repair, DIFM, franchise, Multi-Site Operator, North America, Oil Change, private equity, Quick Service, turnaround, Value | View Pitch |
| Aug 13, 2025 | Seeking Alpha | Alps Capital | Driven Brands Holdings Inc. | Consumer Discretionary | Auto & Truck Dealerships | Neutral | NASDAQ | — | 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. | ||||||||