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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q1 | Apr 15, 2024 | The London Company Small Cap | -7.1% | -7.1% | ACIW, ATKR, CNNE, DV, MC, NGVT, RVLV, SGI, THG, UNF | - | View | ||
| 2025 Q4 | Jan 21, 2026 | The London Company Small Cap | 2.5% | -1.0% | AWI, CCC, CERT, DV, GTES, HAE, NEU, RVLV, WTM | Disciplined, Outperformance, Quality, Russell 2000, small caps, stock selection, value | The Small Cap portfolio outperformed the Russell 2000 Index in Q4, finishing 2025 on a high note with strong stock selection. The high beta rally that drove much of the index's 2025 gains showed signs of exhaustion in Q4, creating opportunities for disciplined stock pickers focused on quality companies. Value factors were the primary driver of returns during the quarter, led by stocks trading at lower prices relative to sales and book value. The portfolio's focus on companies trading at significant discounts to intrinsic value aligned well with this market environment. Quality factors were headwinds during the quarter, though the portfolio maintains its tilt toward profitable, financially stable companies that consistently generate free cash flow and high returns on unleveraged operating capital. This positioning is expected to provide resilience through shifting market regimes. | DV CCC GTES CERT NEU HAE |
View |
| 2024 Q2 | Jul 22, 2024 | The London Company Small Cap | 7.0% | 8.9% | ACIW, CERT, DOOR, DV, ENOV, GTES, MATX, MBUU, MUSA, TPX | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 27, 2026 | Fund Letters | Brian Campbell | DoubleVerify Holdings Inc | Communication Services | Advertising | Bear | New York Stock Exchange | adtech, advertising, Cyclicality, Execution, visibility | View Pitch |
| Oct 15, 2025 | Value Investors Club | Houdini | DoubleVerify | Information Technology | Advertising & Marketing / Ad Verification & Analytics | Bull | NYSE | Ad verification, Adtech duopoly, AI tailwinds, Brand safety, digital advertising, Growth compounder | View Pitch |
| Sep 16, 2025 | Short Thesis | Spruce Point | DoubleVerify Holdings Inc | Information Technology | Advertising | Bear | NYSE | ADS, adtech, growth, valuation, Verification | 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 |
|---|---|---|---|---|---|---|---|---|
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $1.5M | 0.00% | 129,723 | -1,751,823 | -93.11% | 0.0947% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $8.5M | 0.01% | 742,450 | +556,784 | +299.88% | 0.5418% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $158,547 | 0.00% | 13,859 | -1,122,398 | -98.78% | 0.0101% |
| Israel Englander | Millennium Management LLC | $233.2B | $5.3M | 0.00% | 463,723 | -184,635 | -28.48% | 0.3384% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $11.0M | 0.02% | 965,606 | +238,933 | +32.88% | 0.7047% |
| Cliff Asness | AQR Capital Management | $190.6B | $60.1M | 0.03% | 5,254,565 | +2,902,169 | +123.37% | 3.8348% |