ESGR

ESGR

ESGR

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Sep 3, 2025	VH Standard Asset Management	8.1%	7.1%	BASE, BERY, BPMC, BRDG, COOP, DFS, ESGR, GMS, GTLS, HES, JNPR, JWN, LFCR, RDFN, SGOV, SPTN, STR, SWTX, TURN, X	Antitrust, Cash, Deregulation, M&A, Merger Arbitrage, Regulatory	The manager notes a significant pickup in M&A activity within the biotech-pharma-healthcare industry recently, which has provided deal flow for the portfolio. Johnson & Johnson's $15 billion acquisition of Intra-Cellular received no regulatory scrutiny, exemplifying the more permissive environment.		View
2025 Q1	May 17, 2025	VH Standard Asset Management	-	-	ALTM, ALTR, APO, AZPN, BECN, BRDG, COF, DFS, DNB, EDR, ESGR, HCP, HEES, HHH, HRI, JNPR, JWN, K, PDCO, PLYA, RDFN, RDUS, SWTX, TURN, WBA	Capital markets, M&A, Merger Arbitrage, risk management, volatility	The manager expects M&A activity to pick up significantly, leading to increased overbids and excess returns. Current environment shows minimal overbids, quiet go-shops, and subdued optimism, but historical patterns suggest this will revert to more competitive conditions similar to the 1980s merger boom.		View
2025 Q1	Apr 24, 2025	Diamond Hill Small Cap Fund	-11.5%	-11.5%	ALGT, AVNS, CALM, CIVI, COOP, ESGR, FADV, FTAI, HLIO, IGIC, LOB, NSP, SEB, TBK, TKO.TO, TTAN, UGI, WBS	Mortgage, small caps, tariffs, Trade Policy, Utilities, value, volatility	President Trump announced significant tariffs including a 104% tariff on China in response to retaliation, creating widespread uncertainty about global trade relationships. Markets are struggling to digest whether tariffs are negotiation tactics or permanent policy changes that will reshape world trade order.		View
2024 Q1	Apr 15, 2024	FPA Queens Road Small Cap Value Fund	7.5%	8.2%	AAN, AEL, AGCO, ALTM, ARW, AX, CNO, CNXC, CSGS, CSWI, DAR, DCO, DECK, ESGR, FN, GGG, GIII, JBT, LEVI, MDU	Balance Sheet, compounders, Quality, small cap, valuation, value	The fund emphasizes high-quality compounders with strong balance sheets, high returns on capital, and steady margins. Quality has been a large contributor to outperformance during market downturns. The manager prefers companies where earnings will be higher in three to five years.		View
2025 Q3	Nov 8, 2025	FPA Queens Road Small Cap Value Fund	7.5%	13.8%	AAPL, ESGR, FN, IAC, IDCC, IMKTA, MGM, NNI, NVDA, OSK, REVG, RLI, SAIC, SFM, SNX, THS, VSH	Defensive, Disciplined, downside protection, Quality, small cap, value	The fund follows a disciplined four-pillar process focusing on quality companies with strong balance sheets, valuation discipline, strong management teams, and growing industries with stable competitive dynamics. Quality is defined by steady operating margins and high returns on capital, allowing companies to compound value over time.		View
2024 Q3	Oct 31, 2024	VH Standard Asset Management	-	-0.8%	CPRI, CTLT, EDR, ESGR, FYBR, GBNY, HCP, HES, JNPR, K, MGRC, MNTX, RCM, SMAR, SRCL, SRDX, VBFC	Deal Analysis, diversification, insurance, M&A, Merger Arbitrage, risk management	The fund is positioned across multiple merger arbitrage transactions in the healthcare sector, including deals like CTLT and other healthcare-related M&A activity. The manager discusses the strong success rate of insurance company transactions and analyzes deal-level risk across various sectors including healthcare.	ESGR	View
2024 Q4	Jan 27, 2025	VH Standard Asset Management	-	-3.9%	ALTM, ALTR, AXNX, CDMO, CTLT, ESGR, GBNY, HCP, HES, INST, IPG, JNPR, JWN, MRNS, PDCO, PTVE, RCM, SMAR, SRCL, SRDX	Antitrust, Deal Flow, M&A, Merger Arbitrage, Regulatory, Trump	The fund experienced significant losses from the CPRI transaction failure in October, with the judge ruling against the merger based on novel antitrust theories about affordable luxury handbags. Despite this setback, the manager notes 33 deals completed between October and year-end with only 4 failures, indicating continued M&A activity in the sector.		View
2024 Q2	Jul 31, 2024	FPA Queens Road Small Cap Value Fund	7.5%	8.2%	AAN, AGCO, ALTM, ARW, AX, BAM, CNO, CNXC, CSGS, CSWI, DAR, DCO, DECK, EQC, ESGR, FN, FSTR, GGG, GIII, GPK	active management, earnings, Quality, small caps, value	The fund emphasizes quality companies with consistent earnings and high returns on capital. They analyze earnings consistency as a key quality metric, showing that quality small-cap companies trade at lower valuations than large-cap peers with similar quality characteristics.		View
2023 Q1	Mar 31, 2023	Diamond Hill Mid Cap	8.3%	13.3%	AIG, ALL, ARW, BKU, CUBE, DIS, ESAB, ESGR, FIS, FRC, NVR, OZK, RRR, SF, SIVB, SJI, WBS, WCC	Banking, financials, mid cap, rates, value	Banking sector faced significant stress with SVB and First Republic failures, driven by rapid deposit outflows and unrealized losses on securities portfolios. Manager maintains conviction in remaining regional bank holdings despite sector-wide concerns.	DFISX AAPL\|MSFT\|NFLX\|NVDA\|UNH ALL ARW CNVRG PM AEO\|ASH\|ASUR\|AZZ\|DCO\|FA\|FBIN\|GHM\|LEU\|NSP\|RRR\|UTZ CUBE ESAB WESCO	View
2023 Q1	Mar 31, 2023	Diamond Hill Small-Mid Cap Strategy	8.4%	9.2%	AAP, ADM, AIG, ALGT, ALK, ALL, ARW, ASH, BHF, BKU, BOKF, BR, BRBR, BRO, BSX, BWA, CALM, CHKP, CIEN, CIVI, COOP, CTRA, CTSH, CUBE, DEI, ENOV, ERII, ESAB, ESGR, FA, FCX, FIBK, FIS, FWONA, GTES, HBI, HIG, ITGR, JLL, KEX, KMX, L, LANC, LOB, MTN, NVR, NXPI, OZK, PH, POST, PRG, RHP, RNR, RRR, RRX, RYN, SANM, SF, SRCL, SSNC, ST, UDR, UGI, VFC, WBS, WCC, WNS, WTW, WWW, WY	financials, industrials, mid cap, small cap, value			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	VH Standard Asset Management	Enstar Group Limited	Financials	Insurance	Bull	NASDAQ	acquisition, Appraisal Rights, Bermuda, Book Value, Insurance, Merger Arbitrage, premium, risk management, Sixth Street	View Pitch

BSD Shareholders of ESGR

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

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.

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