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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jun 30, 2025 | The Gabelli International Small Cap Fund | 13.8% | - | AAPL, AME, AMZN, AVGO, AXP, BATRA, BK, BMI, BMY, BRK.B, C, CAT, CHWY, CR, CVS, CVX, CW, DAN, DE, ELAN, EVRG, FRPT, GATX, GOOGL, GPC, HES, IDXX, ITT, JPM, KKR, LION, MA, META, MFI.TO, MLI, MSFT, MSGS, NEE, NEM, NFG, NFLX, NVDA, ORCL, PARA, RSG, SONY, SPGI, STT, T, TMUS, TRUP, V, WFC, ZTS | defense, energy, gold, Sports, tariffs, technology, Utilities | The Trump administration's tariff policies dominated market sentiment in Q2 2025, with Liberation Day (April 2) introducing sweeping tariffs that initially triggered a 21% market drawdown. However, a 90-day pause and bilateral trade agreements with key partners helped stabilize markets. The administration appears intent on rolling back globalization, with effective weighted average tariff rates potentially reaching 18%. | 5444 JP TCAP LN |
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| 2025 Q1 | Mar 31, 2025 | Miller Howard Investments Utilities Plus | - | - | AEE, AEP, ATO, AWK, CEG, CNP, EIX, ETR, EVRG, EXC, NGG, NI, PCG, SO, SRE, VST, XEL | Data centers, Defensive, dividends, infrastructure, regulation, Utilities | 15 of 31 holdings announced dividend increases with an average increase of 5.4%. Portfolio transactions were focused on improving dividend and earnings growth profile, which historically leads to outperformance. | View | |
| 2025 Q1 | Mar 31, 2025 | Meridian Contrarian Fund | -7.6% | -7.6% | AXS, BEPC, CCJ, CCK, EVRG, FCNCA, HNST, KRNT, NGD, PRGO, PSIX, RDUS, VICI | contrarian, reshoring, small caps, tariffs, turnaround, value | The fund remains focused on identifying businesses that may benefit from long-term structural shifts such as the re-shoring of U.S. manufacturing—a theme they have been investing in for several years and one that gained traction post-pandemic. They note that reshoring and supply chain realignment takes years, so it is not surprising that so far, the beneficiaries have not escaped indiscriminate market volatility. | NGD AXS RDUS CCJ KRNT HNST |
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| 2023 Q4 | Dec 31, 2024 | Miller Howard Investments Utilities Plus | 0.0% | 0.0% | AES, BKH, ES, ETR, EVRG, NEE, NEP, OGS, PEG, POR, VST | dividends, energy, income, infrastructure, interest rates, Utilities | The letter extensively discusses dividend growth as an underappreciated tailwind, showing how companies with larger dividend increases historically outperform. The analysis demonstrates that dividend increases compound to substantially higher income over time, with 40 basis points of annual increases tripling the beginning yield after 10 years. | View | |
| 2025 Q3 | Oct 24, 2025 | Meridian Contrarian Fund | 6.7% | - | AXS, BEPC, CACI, DLTR, EVRG, FCNCA, HNST, KRNT, LASR, MIR, NVST, PENG, PL, PRGO, TCBI | contrarian, defense, Electrification, small caps, technology, turnaround, value | AI infrastructure demand drove strong performance in technology names and data centers. Several portfolio companies benefited from AI datacenter demand, particularly in high-performance computing and memory businesses. | LASR PL KRNT PRGO HNST LASR PL KRNT PRGO HNST |
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| 2024 Q3 | Sep 30, 2024 | Meridian Contrarian Fund | 6.9% | 0.0% | AXS, BEPC, BOWL, BWXT, CACI, CARS, CCJ, EVRG, FCNCA, NVTS, PRGO, PRT, THC, VICI | contrarian, defense, healthcare, small caps, technology, turnaround, value | The fund holds Navitas Semiconductor, a leader in Gallium Nitride technology for power semiconductors. Despite cyclical headwinds in mobile, EV, and solar markets causing revenue guidance to come in lower than expected, the manager increased the position based on confidence in long-term secular outlook for energy-efficient semiconductors and Navitas' technological leadership. | THC CACI KRNT CARS BOWL NVTS |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| 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 |
|---|---|---|---|---|---|---|---|---|
| Jo Taylor | Ontario Teachers' Pension Plan | $4.3B | $3.7M | 0.09% | 50,959 | -25,399 | -33.26% | 0.0199% |
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $2.1M | 0.00% | 28,716 | +25,416 | +770.18% | 0.0112% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $132.4M | 0.15% | 1,826,964 | +860,707 | +89.08% | 0.7130% |
| Ray Dalio | Bridgewater Associates | $27.4B | $7.9M | 0.03% | 108,819 | +108,819 | +100.00% | 0.0425% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $22.2M | 0.03% | 305,617 | -498,513 | -61.99% | 0.1193% |
| Israel Englander | Millennium Management LLC | $233.2B | $7.6M | 0.00% | 105,387 | +55,759 | +112.35% | 0.0411% |
| Jeremy Grantham | GMO LLC | $39.1B | $1.2M | 0.00% | 16,075 | -898 | -5.29% | 0.0063% |
| Terrence Murphy | Clearbridge Investments | $124.9B | $4.6M | 0.00% | 63,542 | +1,935 | +3.14% | 0.0248% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $5.8M | 0.01% | 80,491 | -1,008,266 | -92.61% | 0.0314% |
| Cliff Asness | AQR Capital Management | $190.6B | $70.3M | 0.04% | 970,282 | -60,324 | -5.85% | 0.3786% |
| Oliver Murray | Brandes Investment | $13.1B | $82.5M | 0.63% | 1,138,521 | +34,767 | +3.15% | 0.4443% |
| Mario Gabelli | GAMCO Investors | $10.4B | $21.1M | 0.20% | 291,540 | -3,287 | -1.11% | 0.1138% |
| Kevin M. Keeley | Keeley-Teton Advisors, LLC | $824.8M | $3.0M | 0.36% | 43,642 | -2,982 | -6.40% | 0.0162% |
| Richard Kayne & John Anderson | Kayne Anderson Rudnick Investment Management | $37.3B | $4,226 | 0.00% | 58 | +4 | +7.41% | 0.0000% |