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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | Apr 15, 2024 | Artisan Mid Cap Fund | 2.4% | 6.6% | BJ, CMG, DASH, EFX, EXAS, GDDY, LULU, NVR, ON, POOL, RGEN, SPOT, SWAV, TEAM, VRT, WCC, XYL | - | View | ||
| 2024 Q1 | Apr 15, 2024 | Mar Vista Strategic Growth Fund | 5.5% | 0.0% | ADBE, AMZN, DIS, EFX, GXO, NKE, TDG | - | View | ||
| 2024 Q4 | Feb 24, 2025 | Mar Vistas U.S. Quality Select | 0.4% | 13.6% | AMT, AMZN, AVGO, CRM, DIS, EFX | - | View | ||
| 2024 Q4 | Dec 31, 2024 | Oakmark Select Fund | 6.0% | 14.2% | ABNB, EFX, IQV, KDP, PAYC | - | View | ||
| 2024 Q4 | Dec 31, 2024 | Parnassus Growth Equity Fund | 4.9% | 26.9% | AKAM, AMAT, AMD, AVGO, AZN, BSX, CRM, DASH, DDOG, EFX, EXAS, FERG, INTU, MC FP, MELI, MSFT, NTRA, NVDA, PCOR, TEAM, TMO, TSM, UNH, VRTX | - | View | ||
| 2024 Q4 | Dec 31, 2024 | Parnassus Mid Cap Growth Fund | -2.5% | 10.6% | A, ADYEY, ALGN, CSGP, DDOG, EFX, FTNT, GWRE, IDXX, KLAC, MELI, MTD, ODFL, PCOR, PGR, POOL, ROK, SHW, SQ, TEAM, TT, XYZ | - | View | ||
| 2023 Q4 | Dec 31, 2023 | Artisan Global Discovery | 7.6% | 13.1% | 58H GR, AMD, ARGX, BC IM, CNHI, EFX, MELR, MRO LN, ON, TREX, VEEV | - | View | ||
| 2025 Q4 | Jan 29, 2026 | Weitz Large Cap Equity Fund | 0.6% | -0.2% | ADI, CHTR, CSGP, DHR, EFX, GOOGL, IDXX, IEX, IT, KMX, META, ORCL, TMO | AI, Biotechnology, Concentration, healthcare, large cap, Process Enhancement, stock selection, value | The artificial intelligence infrastructure trade took a breather after a red-hot summer. Google's Gemini AI surpassed expectations with performance moving to the front of the pack according to respected industry benchmarks, helping Alphabet solidify its spot as an AI leader. | View | |
| 2025 Q4 | Jan 26, 2026 | Harris Associates Concentrated Strategy | 8.4% | 14.4% | CHTR, EFX, FCNCA, GOOGL, LBRDK, PAYC, TRGP, WBD | AI, Banking, Buybacks, energy, Media, Midstream, technology, value | Warner Bros Discovery was a major contributor as multiple parties submitted acquisition offers, with Netflix acquiring the Streaming and Studios business while Global Networks spins to shareholders. Paramount Skydance made a $30 per share offer for the entire company, representing significant value unlocking opportunities in the media sector. Alphabet delivered impressive earnings with strong Cloud segment performance driven by accelerating demand for AI compute. The manager sees potential for the company's AI leadership to drive further upside across the portfolio and views Alphabet as undervalued on a sum-of-the-parts basis. First Citizens Bancshares was a contributor with solid results exceeding consensus expectations. Loans and deposits grew healthily while management continues steady share repurchases. The manager believes it's a high-quality regional bank with strong management that can unlock sustained long-term value. Targa Resources was initiated as a new position, representing a leading midstream natural gas and NGL company controlling 90% of fractionation capacity at Mont Belvieu. The company generates approximately 90% of earnings through multi-year fee-based arrangements, providing protection against oversupply with meaningful cost advantages and barriers to entry. | View | |
| 2025 Q4 | Jan 26, 2026 | Brown Advisors Global Leaders Strategy | 0.0% | 15.2% | ADBE, ALLE, ASML, AZO, EFX, EXPN.L, GE, GOOG, ILMN, LSEG.L, MA, MRVL, MSFT, ROG.SW, RTO.L, TSM, V, WDAY, WKL.AS, ZTS | AI, Data, global, infrastructure, Quality, technology | AI is incredibly fast moving with innovations from DeepSeek in China to chain of experts and reasoning models becoming default standards. The potential for disruption in advertising, call centers and software is running way ahead of current adoption. Three or possibly four LLMs have pulled away from the pack with feedback loops from reasoning models creating one-sided network effects from scale. Credit bureau market is effectively an oligopoly with extremely high barriers to entry due to uniqueness and scale of data. Equifax and Experian provide critical data and analytics services across various sectors with distinct growth drivers in workforce solutions, healthcare, marketing and international markets. Strategy focuses on high-quality companies with superior customer outcomes that can pass on prices and generate high levels of recurring revenue while requiring low financial leverage. Many quality compounders that were historically unjustifiably expensive have become significantly more attractive over the past couple of years. | View | |
| 2025 Q4 | Jan 26, 2026 | Brown Advisors Mid-Cap Growth strategy | -4.7% | 12.5% | AS, AXON, CPNG, CSGP, CVNA, EFX, EXPE, FICO, HWM, INSM, IOT, MDLN, NTRA, PLTR, PSN, PSTG, RKLB, ULTA, VEEV, ZS | AI, energy, growth, healthcare, industrials, mid cap, semiconductors, technology | Several portfolio companies are generating meaningful revenue from GenAI-enabled products, with Axon leading through DraftOne and related offerings that drove over $500 million in bookings. The strategy sees AI as a key driver for companies delivering solutions that save time and reduce labor intensity. AI-driven demand for data center construction is benefiting holdings like Comfort Systems, which exceeded expectations with revenue growth over 20% driven by MEP contracting demand. Rising power demand from data center customers is also supporting Vistra through direct sourcing agreements. The strategy maintains exposure to semiconductor companies like Monolithic Power Systems, which benefited from easing concerns around NVIDIA market share and expanding exposure to other AI compute architectures including AMD, TPU, and Trainium to reduce customer concentration. The strategy repurchased Zscaler following a selloff, viewing it as an attractive entry for the leader in the growing SASE security software market that is executing a multi-product cross-sell strategy driving ARPU and margin growth. The strategy is modestly overweight Energy with positions in Cheniere Energy for LNG exposure and Oceaneering International. Vistra benefited from rising power demand in Texas and growing investor appreciation for nuclear assets, signing large power purchase agreements with hyperscalers. The strategy is overweight Healthcare with broad exposure across services, devices and biotechnology. Cardinal Health delivered strong results driven by improved specialty mix and margin recovery, while Medline offers exposure to both medical technology demand and provider volumes through its vertically integrated platform. | View | |
| 2025 Q4 | Jan 20, 2026 | Harding Loevner Global Equity | 1.9% | 12.7% | 0700.HK, 1299.HK, 2308.TW, 300124.SZ, 300760.SZ, 4519.T, 6758.T, 6861.T, ABBV, ACN, ADBE, ALFA.ST, AME, AMZN, APH, ASML, ATCO-A.ST, ATD.TO, ATKR, AVGO, BKNG, CME, COMP.L, CSGP, D05.SI, DE, DHR, DPLM.L, EFX, ELV, EPI-A.ST, FN, GMAB, GOOGL, HDFCBANK.NS, HEI, HLN.L, HON, JNJ, META, MSFT, NFLX, NOC, NVDA, PGR, ROG.SW, SAP, SGSN.SW, SHEL, SLB, SU.PA, TMO, TSM, TTD, TW, V, VRTX, WMMVY | AI, global, international, semiconductors, technology, value | AI represents a capital-expenditure regime with two distinct camps: hyperscalers investing in computing capacity and physical enablers of the buildout. The US market is more dependent on AI continuing to surprise to the upside due to richer valuations and concentrated exposure. Global semiconductor ecosystem enables AI buildout, spanning chip foundries, memory-chip makers, and equipment manufacturers. International markets are more heavily tilted toward this manufacturing and infrastructure provider segment. International markets trade at roughly half the multiples of US stocks, offering more attractive valuations. Non-US markets start from cheaper valuations and possess more diverse growth opportunities unrelated to AI. | GOOG |
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| 2025 Q4 | Jan 18, 2026 | Parnassus Core Equity Fund | 1.6% | 11.6% | AAPL, AMAT, AMD, AZO, BALL, BRO, CRM, DHR, EFX, FISV, GOOGL, HD, KLAC, LIN, LLY, MSFT, ORCL, TMO, VRTX, WDAY | AI, growth, healthcare, large cap, Quality, semiconductors, technology, value | The fund views AI as a generational demand driver creating durable need for faster, more powerful and energy-efficient computing. They are likely in the early stages of a decade-long AI investment cycle, seeking upside capture while managing risks of rapid technological change, rising competition and growing financial leverage. The gap will widen between AI winners versus AI losers, favoring active portfolio management. The fund maintains exposure to semiconductor companies benefiting from AI-driven demand. Applied Materials and KLA gained from sustained AI-driven semiconductor demand with improving customer outlooks. The portfolio includes semiconductor manufacturing equipment suppliers and chip designers positioned for the AI infrastructure build-out. The fund invests in hyperscalers and cloud infrastructure companies. Alphabet showed improving growth in its cloud segment and renewed confidence in its vertically integrated AI strategy. The portfolio includes companies providing cloud services and infrastructure supporting the AI transformation. The fund holds pharmaceutical companies like Eli Lilly, which rebounded sharply as concerns around pricing, penetration and competitive dynamics for GLP-1 weight-loss drugs eased following stronger-than-expected demand data. The portfolio favors companies that continue to innovate to improve patient outcomes. The fund invests in life science tools companies such as Danaher and ThermoFisher that provide valuable equipment and services for clinical research. These companies benefited from improving sentiment around life sciences end markets as pharmaceutical customers signaled higher-than-expected spending on research and development. | View | |
| 2025 Q4 | Jan 13, 2026 | Mar Vista US Quality Select | 0.2% | 12.8% | AAPL, AMZN, APH, AVGO, CRM, DHR, EFX, GOOG, JNJ, LIN, META, MSFT, NFLX, NVDA, ORCL, ROP, SAP, TSM, V | AI, Cloud, growth, large cap, Quality, semiconductors, Streaming, technology | The structural shift driven by Artificial Intelligence is transitioning from proof-of-concept to demonstrable return on investment. Early monetization is visible in advertising, cloud computing, and semiconductors. Companies deploying AI infrastructure are seeing tangible improvements in ROIC through more efficient ad targeting and premium AI cloud services. Cloud computing continues to be a key beneficiary of AI infrastructure deployment. Google Cloud emerged as a standout performer with 34% revenue growth and $155 billion backlog. Microsoft's Azure platform remains capacity-constrained with accelerating growth and increasing adoption of Copilot offerings. Taiwan Semiconductor represents the dominant manufacturer for leading fabless chip designers including NVIDIA, Apple, and Broadcom. The global arms race to develop artificial general intelligence will support multiple years of robust growth for foundries with leading-edge capabilities. Netflix has built a durable economic moat around its globally-scaled streaming business. With more than 300 million members, Netflix enjoys the lowest content cost per subscriber in the industry, enabling it to profitably outspend rivals and accelerate its competitive flywheel. | View | |
| 2025 Q4 | Jan 13, 2026 | Mar Vista US Quality Select | 1.8% | 18.2% | AAPL, AMT, AMZN, APH, AVGO, BRK-B, EFX, GOOG, META, MSFT, MTD, NFLX, NVDA, ORCL, ROP, TSM, VLTO | AI, Cloud, growth, large cap, Quality, semiconductors, Streaming, technology | The structural shift driven by Artificial Intelligence is transitioning from proof-of-concept to demonstrable return on investment. Early monetization is visible in advertising, cloud computing, and semiconductors where companies are seeing tangible improvements in ROIC. The transition from infrastructure build-out to enterprise and consumer monetization will accelerate into 2026. Cloud computing continues to show strong growth with Google Cloud reaching 34% revenue growth and a $155 billion backlog. Microsoft's Azure platform remains capacity-constrained with accelerating growth. Premium AI cloud services are driving high utilization and multi-year contracts. Taiwan Semiconductor represents the dominant manufacturer for leading fabless chip designers including NVIDIA, Apple, and Broadcom. The global arms race to develop artificial general intelligence will support multiple years of robust growth for foundries with leading-edge capabilities. Semiconductor manufacturing barriers to entry continue rising due to escalating costs. Netflix has built a durable economic moat around its globally-scaled streaming business with over 300 million members. The company enjoys the lowest content cost per subscriber in the industry, enabling it to profitably outspend rivals. The acquisition of Warner Bros. Discovery represents a shift from streaming platform to global media powerhouse. | ROP EFX NFLX TSM MSFT META ORCL AAPL MTD GOOG ROP EFX NFLX TSM LIN MSFT ORCL DHR JNJ GOOG |
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| 2025 Q4 | Jan 13, 2026 | Oakmark Select Fund | 8.4% | 14.3% | CHTR, EFX, GLIBA, GOOGL, IQV, LBRDK, NFLX, PAYC, TRGP, WBD | large cap, M&A, Media, Midstream, undervalued, value | Warner Bros Discovery was the top contributor as multiple parties submitted acquisition offers, with Netflix acquiring the Streaming and Studios business while Global Networks spins to shareholders. Paramount Skydance made a $30 per share offer for the entire company, creating a bidding war that unlocked shareholder value. Targa Resources represents a leading midstream natural gas and NGL company controlling 90% of fractionation capacity at Mont Belvieu hub. The company benefits from cost advantages, barriers to entry, and generates 90% of earnings through multi-year fee-based arrangements providing protection against oversupply. The fund continues to find attractive opportunities to invest in undervalued companies across various industries, including areas left behind in the momentum rally. Targa was purchased at a discount to peers based on normalized earnings power and intrinsic value estimates. | TRGP PAYC WBD |
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| 2024 Q3 | Sep 30, 2024 | Madison Sustainable Equity Fund | 6.1% | 20.1% | APPL, COST, DHR, EFX, GOOG, KEYS, LLY, MSFT, NEE, ORCL, PGR, QCOM, SCHW, UAHC | - | View | ||
| 2023 Q3 | Sep 30, 2023 | TimesSquare Capital Management U.S. Mid Cap Growth Strategy | 4.8% | 0.0% | APTV, ARGX, BJ, CSGP, EFX, FIVE, FND, GFL, HCP, IAC, IDXX, LNG, MLM, PINS, PXD, RGEN, RNR, ROST, RPM, RPRX, SNPS, VAC | - | View | ||
| 2023 Q3 | Aug 11, 2023 | Weitz Large Cap Equity Fund | 7.8% | 13.3% | CHTR, EFX, MCHP | - | View | ||
| 2023 Q3 | Aug 11, 2023 | Weitz Multi Cap Equity Fund | 10.4% | 16.3% | EFX, LBRDA, META, PRM | - | View | ||
| 2025 Q1 | Apr 14, 2025 | Parnassus Growth Equity Fund | -8.6% | -8.6% | ADBE, ADYEY, APP, ASML, BRO, BSX, CRM, CSGP, DDOG, DE, EFX, EXAS, GEV, MSCI, PCOR, SN, SNPS, V, VRTX | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 28, 2026 | Fund Letters | Tony Coniaris | Equifax Inc. | Industrials | Data Processing & Outsourced Services | Bull | New York Stock Exchange | Competition, Credit data, fundamentals, Pricing, valuation | View Pitch |
| Jan 27, 2026 | Fund Letters | Silas Myers | Equifax Inc. | Professional Services | Research & Consulting Services | Bear | New York Stock Exchange | Bureaus, Credit, Distribution, Housing, Mortgage, uncertainty | View Pitch |
| Jan 27, 2026 | Fund Letters | Silas Myers | Equifax Inc. | Industrials | Research & Consulting Services | Neutral | New York Stock Exchange | Creditscores, disruption, Distribution, Housing, Mortgage | 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. | ||||||||