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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2026 Q2 | Jul 3, 2026 | Church House Human Capital | - | - | 8316.T, APH, AVGO, BRK/B, EG, FNV, INTU, KHC, MS, NVDA, ORCL, SREN.SW, STAN.L, TSM, XOM | AI, banks, diversification, energy, insurance, risk management, semiconductors | View | ||
| 2025 Q2 | Jul 27, 2025 | RS Large Cap Val Strategy | 3.6% | 5.2% | APH, C, CACI, CPAY, EG, ETN, FFH.TO, LKQ, ST, UNH, XOM | defense, large cap, Quality, ROIC, tariffs, technology, Trade Policy, value | The quarter was dominated by tariff-induced volatility, with markets initially selling off on Liberation Day tariff announcements before recovering on perceived softening of the administration's trade policy stance. The administration's protectionist policies have introduced significant uncertainty, overshadowing economic renaissance goals and impacting global currencies and markets. | CPAY CACI |
View |
| 2026 Q2 | Jul 21, 2026 | Vulcan Value Partners – Focus Plus | 10.4% | -10.7% | AMZN, EG, GOOGL, RYAN, SAP, TDG, UNH | aerospace, AI, Cloud, Concentration, E-Commerce, Health Insurance, insurance, value | View | ||
| 2026 Q2 | Jul 21, 2026 | Vulcan Value Partners – Focus Plus | 10.5% | -10.6% | AMZN, EG, GOOGL, RYAN, SAP, TDG, UNH | AI, Buybacks, Cloud, concentrated, healthcare, insurance, technology, Value Investing | View | ||
| 2024 Q4 | Dec 31, 2024 | Vulcan Value Partners – Small Cap | -7.3% | 1.3% | AMZN, CCK, CG, CRM, EG, ELV, FBHS, GOOGL, HEIA.AS, LYV, MEDP, MIDD, PBH.TO, PGHN.SW, QRVO, RI.PA, RTO.L, SDIP.ST, SW.PA, UNH | Building Products, discount, Europe, Foodservice, Margin Of Safety, small caps, value | Small Cap is the most discounted portfolio in terms of price compared to intrinsic value estimates, providing the highest margin of safety. The manager believes the market is overly focused on short-term results and not properly recognizing long-term prospects of quality companies trading at discounts. | View | |
| 2024 Q3 | Oct 9, 2024 | Vulcan Value Partners – Large Cap | 8.2% | 17.6% | CBRE, CIGI, CWK, DNB, EG, IBST.L, JLL, KKR, LYV, MC.PA, PGHN.SW, PLNT, PRG, SBUX, UNH | Alternative Asset Managers, Commercial real estate, interest rates, Luxury, Margin Of Safety, Reinsurance, value | Multiple commercial real estate service providers benefited from falling interest rates and improving transaction volumes. Companies like Jones Lang LaSalle, CBRE, Colliers International, and Cushman & Wakefield are positioned to benefit as interest rates decline and real estate markets recover from recent downturns. | View | |
| 2024 Q3 | Oct 9, 2024 | Vulcan Value Partners – Small Cap | 8.1% | 16.5% | CBRE, CIGI, CWK, DNB, EG, IBST.L, JLL, KKR, LYV, MC.PA, PGHN.SW, PLNT, PRG, SBUX, UNH | Alternative Assets, Commercial real estate, interest rates, Luxury, Margin Of Safety, Reinsurance, value | Multiple portfolio companies are commercial real estate service providers benefiting from falling interest rates and recovering transaction volumes. Companies like CBRE, Colliers, and Cushman & Wakefield are positioned for recovery as the industry emerges from a downturn. | View | |
| 2024 Q3 | Oct 9, 2024 | Vulcan Value Partners – Focus Plus | 5.6% | 18.6% | CBRE, CIGI, CWK, DNB, EG, IBST.L, JLL, KKR, LYV, MC.PA, PGHN.SW, PLNT, PRG, SBUX, UNH | Alternative Asset Managers, Commercial real estate, interest rates, Luxury, Margin Of Safety, value | Multiple holdings in commercial real estate services including CBRE, Jones Lang LaSalle, Colliers International, and Cushman & Wakefield. These companies are positioned to benefit from falling interest rates and recovery in transaction volumes after weathering an industry downturn. The managers see these businesses as having diversified earnings streams and asset-light models. | View | |
| 2024 Q3 | Oct 9, 2024 | Vulcan Value Partners – Focus Plus | 5.9% | 18.7% | CBRE, CIGI, CWK, DNB, EG, IBST.L, JLL, KKR, LYV, MC.PA, PGHN.SW, PLNT, PRG, SBUX, UNH | Alternative Assets, Commercial real estate, Concentration, interest rates, Luxury, Reinsurance, value | Multiple commercial real estate service providers benefited from falling interest rates and improving transaction volumes. Companies like CBRE, Colliers, and Cushman & Wakefield are positioned to benefit from the recovery in real estate markets as rates decline. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 21, 2026 | Fund Letters | C.T. Fitzpatrick | Everest Group, Ltd. | Financials | Reinsurance | Bull | New York Stock Exchange | Float, margin of safety, Reinsurance, Share Buybacks, Underwriting Profit | View Pitch |
| Jan 8, 2026 | Fund Letters | Colin McWey | Everest Group, Ltd. | Financials | Reinsurance | Bull | New York Stock Exchange | Pricing, Reinsurance, turnaround, underwriting, valuation | 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 |
|---|---|---|---|---|---|---|---|---|
| Sarah Ketterer | Causeway Capital Management LLC | $7.3B | $81.0M | 1.11% | 238,558 | +62,872 | +35.79% | 0.5574% |
| Donald G. Smith | Donald Smith & Co. | $5.3B | $147.9M | 2.77% | 435,696 | +44,272 | +11.31% | 1.0180% |
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $2.1M | 0.00% | 6,288 | -4,294 | -40.58% | 0.0147% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $31.5M | 0.04% | 92,830 | +82,030 | +759.54% | 0.2169% |
| Cliff Asness | AQR Capital Management | $190.6B | $565.4M | 0.30% | 1,666,087 | -344,946 | -17.15% | 3.8928% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $169.2M | 0.22% | 498,697 | +321,376 | +181.24% | 1.1652% |
| Israel Englander | Millennium Management LLC | $233.2B | $50.2M | 0.02% | 147,987 | +92,558 | +166.98% | 0.3458% |
| Jeremy Grantham | GMO LLC | $39.1B | $15.3M | 0.04% | 45,091 | +14,211 | +46.02% | 0.1054% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $24.3M | 0.04% | 71,733 | -10,604 | -12.88% | 0.1676% |
| Brian Ashford-Russell | Polar Capital Holdings | $25.8B | $136.9M | 0.53% | 403,500 | -7,000 | -1.71% | 0.9428% |
| Arnold Van Den Berg | Van Den Berg Management I, Inc | $436.5M | $420,794 | 0.10% | 1,240 | -4,078 | -76.68% | 0.0029% |
| Cory Martin | Barrow, Hanley, Mewhinney & Strauss | $30.0B | $321.8M | 1.07% | 948,270 | -51,311 | -5.13% | 2.2156% |
| Ray Dalio | Bridgewater Associates | $27.4B | $24.5M | 0.09% | 72,083 | -41,279 | -36.41% | 0.1684% |
| Chris Davis | Davis Selected Advisers | $22.2B | $40.0M | 0.18% | 118,017 | +39,161 | +49.66% | 0.2757% |