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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | Apr 2, 2024 | Middle Coast Investing | - | - | ACLS, ADM, DBX, EB, FCNCA, FG, PGR, SNX, SPOT, VMEO, WS | - | View | ||
| 2025 Q4 | Feb 3, 2026 | Gator Capital Management | 4.1% | 31.9% | BCS, BNP.PA, C, COMP, CUBI, FCNCA, GLE.PA, GPN, HOOD, HOUS, JPM, JXN, PYPL, SOHO, TD, TFSL, UMBF, VRTS | Banking, Capital markets, financials, real estate, Regional Banks, small caps, value | The fund focuses on small and mid-cap financial institutions, particularly regional banks with mutual holding company structures. TFS Financial represents a key investment in this space, offering leveraged exposure to earnings recovery through its unique MHC structure. Significant exposure to mortgage-related businesses through TFS Financial's traditional thrift model and Anywhere Real Estate's real estate services. The fund sees opportunity as the housing market recovers and interest rate environment normalizes. Strong positioning in capital markets through investment platforms like Robinhood Markets and traditional investment management firms. The fund benefited from continued product innovation and growth in retail trading platforms. | TFSL |
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| 2025 Q4 | Feb 11, 2026 | BlackRock Mid-Cap Value Fund | 2.5% | 13.7% | BAX, BDX, CAH, CVS, FCNCA, FIS, MMS, SSNC, WCC, WDC | AI, dividends, financials, healthcare, industrials, inflation, mid cap, value | Manager notes exuberance driven by artificial intelligence and narrow leadership raises questions about durability. They see value investing as offering a risk-aware way to participate in secular themes, including AI. Large-scale AI-related capital spending could strain power, materials, and construction capacity. The fund explicitly follows a value investing approach, investing in mid-cap companies that pay attractive, sustainable and growing dividends. Manager emphasizes value investing offers a risk-aware way to participate in secular themes and argues for selectivity and disciplined risk control. | View | |
| 2023 Q3 | Nov 10, 2023 | Gator Capital Management | 10.8% | 24.3% | FCNCA | - | View | ||
| 2023 Q4 | Jan 3, 2024 | Middle Coast Investing | - | - | AAPL, ACLS, EB, FCNCA, KBAL, SCS | - | 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 21, 2026 | Meridian Contrarian Fund | 2.2% | 0.0% | AMD, AMSC, ATZ.TO, AXS, CACI, CCK, DLTR, FCNCA, HNST, LASR, MIR, NVST, PENG, TCBI | AI, contrarian, defense, energy, semiconductors, small cap, turnaround, value | The fund continues to see long runways supporting artificial intelligence as a core theme. AI-related earnings drove early-period performance in the quarter. AMD made progress establishing its GPU servers as a viable alternative to Nvidia's offerings in the AI space. AMD emerged from underperformance with competitive technology positioning against Intel and Nvidia. The company's GPU servers are establishing viability as alternatives to Nvidia in AI applications. Technology leadership is generating market share gains and improved profits. Defense represents one of the portfolio's core themes with long runways for growth. The fund holds positions in defense-related companies including those serving naval programs and defense electronics applications. Electric grid upgrades represent a significant growth driver for portfolio companies. American Superconductor is positioned to benefit from demand for electric grid infrastructure improvements and expanding power transmission needs. The portfolio benefits from electrification and power themes as core investment areas. Companies are positioned to capitalize on rising power demand, wind power expansion, and infrastructure investment in the energy transition. | AMD ATZ CN DLTR HNST AMSC PENG |
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| 2023 Q1 | Mar 31, 2023 | Meridian Contrarian Fund | 6.9% | 0.0% | AIG, AMD, APA, CARS, CCK, FCNCA, HNST | - | View | ||
| 2023 Q1 | Mar 31, 2023 | Oakmark Select Fund | 8.1% | 0.0% | FCNCA, SCHW | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 28, 2026 | Fund Letters | Tony Coniaris | First Citizens BancShares Inc. | Financials | Regional Banks | Bull | NASDAQ | balance sheet, capital returns, earnings growth, management, regional banks | 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. | ||||||||