EW

EW

EW

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 14, 2025	Wedgewood Partners	7.1%	0.3%	AAPL, BKNG, CDW, CPRT, EW, GOOGL, IDXX, META, MSFT, MSI, ORLY, TSCO, TSM, UNH, URI, V, ZTS	AI, Bull Market, growth, healthcare, large cap, tariffs, technology, Valuations	Meta Platforms has been a consistent beneficiary of artificial intelligence over the past several years, investing aggressively in deep learning recommendation systems that help power its products. Meta's AI investments, combined with its massive scale, allow the Company to quickly spin up new products across its digital advertising real estate to reinforce its competitive positioning. Microsoft showed key acceleration in its Azure cloud infrastructure business, driven by demand for AI-compute capacity.		View
2025 Q1	Apr 30, 2025	Bell Global Equities Fund	-8.6%	-8.6%	4684.T, AAPL, ADP, AMZN, ASML, AUTO.L, AVGO, BJ, BNZL.L, DECK, EW, FI, GOOGL, ICLR, IT, META, MSFT, NVDA, NVO, OR.PA, PEP, RMV.L	Cloud, Global Equities, Quality, tariffs, technology, Trade Policy	President Trump's Liberation Day announcement introduced sweeping universal tariffs across all trading partners, triggering immediate flight to safety and market volatility. The announcement was later paused on April 9 to allow time for negotiations, leading to recovery in risk asset prices.		View
2024 Q1	Apr 24, 2024	Titan Wealth	-	-	AAPL, ABNB, ADBE, ALNY, BMW.DE, DBX, DIS, EBAY, ETSY, EW, GOOGL, GSK, META, MSFT, NFLX, NKE, ORCL, STLA, TSLA, V	diversification, emerging markets, healthcare, inflation, Multi-Asset, rates, technology	Technology sector performance driven by AI excitement continues to support markets. The combination of falling rates and excitement around AI's potential to boost long-term productivity growth and margins provides a powerful tailwind for equities.		View
2026 Q1	Apr 18, 2026	Artisan Mid Cap Fund	-5.9%	-5.9%	AJG, ALAB, ARES, CCCS, COHR, DASH, EW, MDB, PRS, RBLX, SITM, SMTC, TW, WAT, WING	aerospace, AI, Biotechnology, Data centers, defense, energy, growth, mid cap			View
2026 Q1	Apr 17, 2026	Parnassus Mid Cap Growth Fund	-7.0%	-7.0%	ARES, BILL, BLDR, CSGP, DKS, EW, HOOD, HUBG, KLAC, ODFL, RDDT, RKLB, ROK, TER, VMC	AI, growth, Housing, industrials, mid cap, semiconductors, technology			View
2026 Q1	Apr 17, 2026	Parnassus Growth Equity Fund	-9.6%	-9.6%	AMAT, APPF, ARES, ASML, BSX, CRM, EW, GEV, LIN, MDLN, META, ORCL, SHOP, TEAM, TSM, VIK	AI, energy, growth, Iran, semiconductors, software, technology		VIK ORCL MDLN SHOP EW META	View
2024 Q1	Apr 15, 2024	Wedgewood Partners	5.8%	22.4%	AAPL, AMZN, BKNG, CDW, CPRT, EW, GOOGL, META, MSFT, NVDA, POOL, PYPL, SPGI, TPG, TSCO, TSLA, TSM, UNH, V	AI, growth, large cap, payments, technology, Travel, value	Artificial intelligence continues to drive significant performance with portfolio holdings including Alphabet, Apple, Meta Platforms, Microsoft and Taiwan Semiconductor Manufacturing benefiting from the secular AI tailwind. Meta Platforms and Taiwan Semiconductor were 2024 performance leaders on this front.	PYPL	View
2026 Q1	Apr 13, 2026	Castlebay Investments	-	-	AVON.L, CPG.L, CRNW, EW, ITRK.L, NVO, RELX.L	Competitive Advantage, Compounding, Process Power, Quality, United Kingdom, value		EW ITRK.L AVON.L CPG.L	View
2025 Q1	Apr 12, 2025	Torre Financial	-2.0%	-2.0%	ABT, ADBE, ADC, AMZN, CRM, EW, FDS, GOOGL, ICE, INTU, MCO, MELI, META, MSCI, PYPL, SPGI, TMO, UNH, V, WDAY	AI, healthcare, payments, Quality, technology, Trade Policy, volatility	AI is driving significant changes in how people work, automating functions across sales, marketing, customer service, and software development. There is opportunity for new leaders in this space, though concerns exist about potential disruption to companies like Adobe and Alphabet. However, both companies are at the leading edge of AI solutions within enterprise contexts.		View
2024 Q1	Mar 30, 2024	Torre Financial	7.6%	7.6%	ABNB, ADBE, ADC, CRWD, EW, META, TEAM, TTD, UNH, ZS	Advertising, growth, healthcare, Quality, REITs, software, technology	Meta is well positioned as a leader in the AI movement. Adobe has come out very strong in the rise of AI with their professional tools quickly incorporating many new generative-AI technologies.	UNH ADC ZS ADBE TEAM	View
2024 Q4	Dec 31, 2024	Brown Advisors Global Leaders Strategy	-	-	1299.HK, ASML, AZO, B3SA3.SA, BBRI.JK, BKNG, EL, EW, GOOGL, HDB, ILMN, META, MRVL, MSFT, NVDA, RHHBY, RTO.L, TSM, ZTS	AI, Concentration, emerging markets, global, healthcare, Quality, semiconductors	The fund invests across all four layers of the AI tech stack, from end user applications to technical infrastructure. Portfolio companies are seeing meaningful enterprise AI use cases in productivity and efficiency tools, with Google having 25% of new code written by AI and Booking Holdings improving customer service through AI chatbots. Microsoft is on track for $10bn annualized AI revenues.	RTO.L AZO ZTS ILMN	View
2024 Q4	Dec 31, 2024	Hardman Johnston Large Cap Equity	-1.3%	17.3%	AMZN, AZN, BDX, CMCSA, ELAN, EW, FTI, GOOGL, IBN, LEN, MA, MELI, MMC, PYPL, SCHW, SLB, SN, STAN.L, SUZKY, TMUS	Data centers, healthcare, interest rates, large cap, technology, Trade Policy	Data center buildout remains strong with companies like Marvell and Vertiv playing key roles. Investment in data centers for artificial intelligence applications was strong during the quarter. Marvell has a strong position in data networking chips in data centers.	LEN MRVL SN	View
2023 Q3	Dec 10, 2023	Wedgewood Partners	5.8%	22.4%	AAPL, BKNG, CDW, EW, GOOGL, META, MSI, ODFL, ORLY, PYPL, TPG, TSM	AI, Auto Aftermarket, Fed policy, growth, interest rates, large cap, technology, Travel	O'Reilly Automotive represents the aftermarket auto parts industry which benefits from higher car financing costs forcing owners to keep cars longer, increasing maintenance needs. The industry remains fragmented with growth opportunities, particularly in the do-it-for-me segment where O'Reilly excels through its distribution network.	AVGO\|BYD\|CRWD\|MELI\|MSFT\|NFLX\|NVDA\|NVO\|ORLY\|SPOT	View
2023 Q4	Nov 1, 2024	Ithaka US Growth Strategy	0.2%	0.0%	AAPL, ADBE, ALGN, AMZN, CRM, EW, ISRG, MA, MSFT, NOW, NVDA, SQ, TTD, V, VEEV	Concentration, growth, large cap, Quality, technology			View
2024 Q3	Oct 7, 2024	Rodrigo Benedetti	-	-	ABT, APP, ARKK, ASTS, COOP, EW, HIFS, KRE, LUMN, MBIN, MDT, MEDP, PFBC, TMDX	Europe, financials, Medical Devices, Shorts, Tankers, trading, volatility	Manager sees opportunities in tankers due to seasonal weakness ending and Middle East conflict escalation. Expects enforcement of dark fleet sanctions to benefit compliant fleet carrying offsetting output from Saudi Arabia and others, tightening ship availability. However, notes growing orderbook and higher valuations make tankers difficult as long-term holds.	EW	View
2025 Q3	Oct 21, 2025	Hardman Johnston Large Cap Equity	6.0%	9.6%	7269.T, AAPL, ADBE, ADP, AEIS, ALB, AMZN, ASML, AZN, BDX, CMCSA, CTVA, CW, EL, EW, FMC, GOOGL, HWM, HXL, IBN, ILMN, IQV, MA, MDT, META, MMC, MRVL, MSFT, NVDA, OLED, PRY.MI, PYPL, SCHW, SLB, SN, SWK, TMUS, UBER, VRT, VRTX	aerospace, AI, healthcare, industrials, large cap, technology, value	The firm is debating how far artificial intelligence has to run and whether AI-related holdings are bargains, over-extended, or fairly valued. They believe they are at the beginning of a new productivity revolution and suspect current forecasts are too low for companies enabling this revolution. Both Vertiv and Advanced Energy sell power conditioning and management tools into the computing sector and are seeing a surge in business related to the AI buildout.	CTVA VRT PRY AEIS	View
2024 Q3	Oct 18, 2024	Titan Wealth	-	-	1972.HK, 300750.SZ, 3690.HK, ABNB, BIO, BMW.DE, CRM, DEO, DIS, EBAY, EL, EW, GOOGL, HEIA.AS, HLN.L, LVMH.PA, MA, META, MSFT, NFLX, NVDA, ORCL, PYPL, SNY, STLA, TMO, UL	emerging markets, global, healthcare, income, Multi-Manager, Rate Cuts, technology	Long-term theme of emerging global middle class remains intact despite recent underperformance. Emerging economies outpacing developed world on output-per capita basis with faster earnings expansion, better margins, less debt, and cheaper valuations. Chinese stimulus measures helping lift emerging market positions.		View
2024 Q3	Oct 16, 2024	Wedgewood Partners	5.8%	22.4%	AAPL, BRK-B, CDW, CPRT, EW, GOOGL, META, MSFT, MSI, PYPL, UNH	Fed policy, growth, healthcare, large cap, technology, value	Meta has been a consistent beneficiary of artificial intelligence over the past several years, investing aggressively behind deep learning recommendation systems. Meta's AI investments, combined with its massive scale, allow the Company to quickly spin up new products across its digital advertising real estate. Apple is well situated to develop a suite of compelling, consumer-friendly AI services given its proprietary semiconductor development and the compute-intensive nature of AI applications.	MSI UNH META PYPL	View
2024 Q3	Oct 12, 2024	Torre Financial	8.0%	16.5%	ABNB, ABT, ADBE, ADC, AMT, AMZN, CRWD, DHR, EW, FDS, GOOGL, ICE, MCO, MELI, PYPL, SPGI, TMO, TTD, UNH, ZS	diversification, healthcare, Quality, REITs, Resilience, technology, value	Manager has systematically diversified portfolio beyond technology into healthcare, real estate, and risk management companies over the past two years. This diversification has helped decrease volatility and provided better downside protection when markets declined.		View
2022 Q3	Oct 10, 2022	Wedgewood Partners	5.8%	22.4%	AAPL, CPRT, EW, FB2A, GOOG, MSI, PYPL, TPL, TSM, V	-			View
2024 Q4	Jan 23, 2025	Titan Wealth	-	-	1211.HK, AMZN, ASML, DIS, EL, EW, FDX, HON, LLY, MSFT, NFLX, NVDA, NVO, TSLA, UNH, V	AI, Energy Transition, healthcare, infrastructure, interest rates, portfolios, technology, Trump	AI-driven assets emerged as top performers with significant holdings in Nvidia and Amazon. Portfolio includes companies positioned to benefit from AI infrastructure expansion while avoiding lofty valuations of the Magnificent 7.		View
2025 Q4	Jan 14, 2026	Hardman Johnston Large Cap Equity	4.3%	0.0%	7269.T, AMZN, AZN, BDX, CCO.TO, CMCSA, EL, EW, GOOGL, HDB, ILMN, IQV, MA, META, MMC, PYPL, SCHW, SLB, SN, TMUS	AI, Genomics, growth, healthcare, large cap, Lithium, technology	AI remains an important driver for portfolio performance, with investments made years ago benefiting from the surge in AI spending. The manager sees AI as particularly relevant in healthcare where it can help achieve both innovation and efficiency while controlling healthcare spending growth. Albemarle is benefiting from a surge in lithium prices due to near-term production disruptions at competitors, improving outlook for global EV penetration, and investment in batteries as energy storage platforms for alternative energy supplies. Illumina, with almost 70% market share in gene sequencing, has weathered a storm of life science funding cuts and competitive entries. While challenges remain, they are well positioned to benefit from any acceleration in clinical and research spending in life sciences.	OLED AEIS ILMN ALB	View
2025 Q4	Jan 14, 2026	Wedgewood Partners	-1.8%	4.3%	AAPL, AMZN, BKNG, CB, CDW, CPRT, EW, GOOGL, META, MSI, ODFL, ORLY, POOL, PYPL, SPGI, TSCO, TSM, UNH, URI, V	AI, growth, large cap, Portfolio Management, Quality, technology, valuation	AI continues to drive significant revenue growth across portfolio companies. Google Cloud processes 1.3 quadrillion AI tokens per month, more than double from just a few quarters ago. Meta has been using AI tools for over a decade to manage their massive network, with their Andromeda machine learning system automatically retrieving and ranking tens of millions of potential ads based on user preferences. Taiwan Semiconductor Manufacturing continues to execute flawlessly on leading-edge node progression and capacity build-out, enabling the AI era by manufacturing nearly every compute accelerator including GPUs. The company's advanced nodes allow accelerator designers greater flexibility to increase performance while limiting power requirements in an increasingly power-constrained compute infrastructure industry. Google Cloud segment revenue and backlog growth accelerated, driven by AI workloads. Amazon's AWS has fostered some of the largest businesses in the world over the past 20 years, with revenue growth accelerating to over 20% as the company deployed almost 4 gigawatts of capacity for AI-workloads over the past 12 months. The manager expresses significant concern about excessive market valuations, noting that more than 30% of US market capitalization now trades above 10x sales, reminiscent of the tech bubble. The crowded AI trade and historically rich valuations are described as haunting prudent investing, with even most non-Magnificent Seven stocks failing to offer bargains. The manager has trafficked in quality stocks for more than 33 years, an approach that has served clients well since 1992 but did not work in 2025. The portfolio's fundamentals, prospective earnings growth rates, profitability measures, and balance sheet strength are notably superior to the S&P 500 Index and on par with the Russell 1000 Growth Index.	PYPL TSCO URI MSI META EW ODFL AAPL TSM GOOG CB AMZN	View
2024 Q3	Sep 30, 2024	Hardman Johnston Large Cap Equity	4.9%	18.8%	7269.T, AMZN, AZN, BDX, CMCSA, ELAN, EW, FTI, GOOGL, IBN, ILMN, MA, MELI, MMC, PYPL, SCHW, SLB, STAN.L, TMUS, XRAY	aerospace, AI, healthcare, large cap, rates, technology	The Federal Reserve cut interest rates by 0.5% in September, signaling a change in direction for major parts of the economy. After years of rapidly rising rates, this change will affect mortgage rates, credit card balances, savings, and business operations. Major sectors that have been moribund, especially housing, will have a chance to help the next expansion cycle get underway.		View
2022 Q4	Jan 19, 2023	Wedgewood Partners	5.8%	22.4%	AAPL, CDW, EW, GOOG, META, MSI, PYPL, TPL, TSCO, V	-			View
2024 Q4	Jan 15, 2025	Wedgewood Partners	5.5%	29.1%	AAPL, BKNG, CDW, EW, GOOGL, META, MSFT, MSI, NVDA, ODFL, ORLY, POOL, SPGI, TPG, TSCO, TSM, UNH, V	AI, growth, interest rates, large cap, semiconductors, technology, Valuations	Wedgewood views AI as evolutionary rather than revolutionary, noting that companies like Alphabet and Meta have been using machine learning for over a decade. They emphasize that AI has been hiding in plain sight, with their portfolio companies already generating substantial returns from AI-related investments in R&D and capex.		View
2023 Q4	Jan 13, 2024	Wedgewood Partners	5.8%	22.4%	AAPL, CDW, CPRT, EW, GOOGL, META, MSFT, MSI, ODFL, ORLY, PYPL, TPG, TSCO, TSM, UNH, V	AI, Cloud, Fed policy, growth, large cap, semiconductors, technology	AI has been a multi-year phenomenon driving growth and profitability across portfolio companies. Meta Platforms has built one of the world's fastest supercomputers and uses AI for advertising optimization and content curation. Alphabet has spent $150 billion on R&D over five years, with 80% of advertising customers using AI-enabled tools. Apple has developed custom neural processing units enabling FaceID and other AI features across 200+ million devices annually.		View
2022 Q4	Jan 3, 2023	RiverPark Long/Short Opportunity Fund	0.6%	11.1%	9WY, AAPL, ADYE AV, CDW, EW, FSR, GOOGL, META, MSI, PYPL, SI, SW, THRY, TSCO, V	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 23, 2026	Fund Letters	Parnassus Growth Equity Fund	Edwards Lifesciences Corp.	Medical Devices	Health Care Equipment & Supplies	Bull	New York Stock Exchange	Cardiac Therapy, Equity, healthcare, innovation, large-cap, Medical devices, Transcatheter Valves	View Pitch
Apr 23, 2026	Fund Letters	Castlebay Investments	Edwards Lifesciences	Medical Devices	Health Care Equipment	Bear	New York Stock Exchange	capital allocation, Clinical Moat, Healthcare Equipment, Heart Valves, medical technology, Single Product Concentration, TAVR, Valuation risk	View Pitch
Apr 13, 2026	Fund Letters	Rodrigo Benedetti	Edwards Lifesciences Corporation	Health Care Equipment & Supplies	Health Care Equipment	Bull	NYSE	Asymmetric, healthcare, Heart Disease, market share, Medical devices, Medtech, Structural Heart, TAVR, TMTT, Valve Replacement	View Pitch
Jan 16, 2026	Fund Letters	David A. Rolfe	Edwards Lifesciences Corp.	Health Care	Health Care Equipment	Bull	New York Stock Exchange	Cardiology, growth, innovation, Margins, Medical devices	View Pitch

BSD Shareholders of EW

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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