Join for free and get access to the buyside
Get insights from the world's most influential hedge fund investors direct to your inbox
- © 2025 Buyside Digest
- Privacy Policy
- Disclaimer
- Sitemap
- Terms of Service
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 4, 2025 | Baird Small/Mid Cap Growth Equity Fund | 4.5% | -6.6% | ADMA, ALAB, ALHC, BJ, BMI, BOOT, BRBR, BWXT, CASY, CAVA, CHDN, COCO, CWAN, DKNG, DSGX, ELF, EQH, EXLS, FDS, FND, FOUR, FSS, GLOB, HLI, HQY, INSM, INSP, KAI, KNSL, LII, MANH, MKTX, MNDY, MTSI, NBIX, ONTO, PODD, PSTG, SPSC, SRPT, SSD, TARS, TECH, TREX, ULS, VERX, WAY, WSC, WSO, XPEL | AI, Biotech, growth, healthcare, semiconductors, small cap, technology, underperformance | The benchmark's rally was led by companies with AI-exposure that drove rapid multiple expansion. The portfolio underperformed due to underexposure to more speculative AI areas including small cap semiconductors and AI-hardware. Defensive positions with minimal AI-exposure were the largest detractors to relative performance. | View | |
| 2025 Q2 | Aug 2, 2025 | Meridian Growth Fund | 4.1% | - | ALGN, CARG, CHDN, COO, CW, DKNG, DOCS, EEFT, FSS, GFS, HALO, RBA, SPT, TRMB, ZD | growth, healthcare, industrials, Quality, risk management, small cap, technology | The fund's investment approach is grounded in investing in high-quality businesses with recurring revenue and sustainable competitive advantages. This emphasis on quality businesses with stable revenues and attractive valuations remains the core strategy going forward. | DKNG FSS CW COO HALO ZD COO HALO ZD |
View |
| 2025 Q2 | Aug 2, 2025 | Meridian Small Cap Growth Fund | 6.9% | - | ALIT, AXGN, CARG, CCSI, FSS, KEX, MIR, NTIC, PACK, RELY, SPT, TPB, VNOM | energy, growth, healthcare, nuclear, Quality, Resilience, small caps | The fund focuses exclusively on small-cap growth companies, with the Russell 2000 Growth Index as its benchmark. Small caps returned 8.5% in the quarter, recovering 24.0% from April lows, with growth stocks outperforming value stocks significantly. | NPKI TPB MIR VNOM AXGN RANP VNOM AXGN PACK |
View |
| 2025 Q2 | Jul 22, 2025 | Conestoga Mid Cap Composite | 3.5% | 4.5% | AAON, AGYS, BFAM, CWAN, CWST, DGII, DSGX, ESE, EXPO, FSS, FSV, JBTM, MLAB, MMSI, NEOG, NOVT, RBC, ROAD, SLP, STVN | growth, industrials, infrastructure, Quality, small cap, tariffs, technology | Federal infrastructure investment is driving robust demand in road maintenance and construction markets. Construction Partners has been a leader in seven of the past nine quarters due to this infrastructure spending. The company reported solid fiscal 2Q results with organic revenue increases and record backlog figures. | MTD NET FICO AAON POOL ROP WSO WCN CPRT VEEV IDXX GWRE HEI.A BSY |
View |
| 2025 Q2 | Jul 22, 2025 | Conestoga Small Cap Composite | 4.8% | -7.1% | AAON, AGYS, BFAM, CWAN, CWST, DGII, DSGX, ESE, EXPO, FSS, FSV, JBTM, MLAB, MMSI, NEOG, NOVT, RBC, ROAD, SLP, STVN | growth, healthcare, industrials, infrastructure, Quality, small cap, tariffs, technology | Federal infrastructure investment is driving robust demand in road maintenance and infrastructure markets. Construction Partners has been a leader in seven of the past nine quarters due to this infrastructure spending. The company reported solid fiscal 2Q results with organic revenue increases and record backlog figures. | SLP KIDS SSTI ERII HLMN MEG ROAD WLDN PL |
View |
| 2025 Q2 | Jul 22, 2025 | Conestoga SMid Cap Composite | 5.0% | -1.0% | AAON, AGYS, BFAM, CWAN, CWST, DGII, DSGX, ESE, EXPO, FSS, FSV, JBTM, MLAB, MMSI, NEOG, NOVT, RBC, ROAD, SLP, STVN | growth, industrials, infrastructure, Quality, small cap, tariffs, technology | Federal infrastructure investment is driving robust demand in road maintenance and construction markets. Construction Partners has been a leader in seven of the past nine quarters due to this infrastructure spending. The company reported solid fiscal 2Q results with organic revenue increases and record backlog figures. | RBC GWRE AXON ROAD |
View |
| 2025 Q2 | Jul 22, 2025 | Conestoga Micro Cap Composite | 15.7% | 6.1% | AAON, AGYS, BFAM, CWAN, CWST, DGII, DSGX, ESE, EXPO, FSS, FSV, JBTM, MLAB, MMSI, NEOG, NOVT, RBC, ROAD, SLP, STVN | growth, healthcare, industrials, infrastructure, Quality, small cap, tariffs, technology | Federal infrastructure investment driving robust demand in road maintenance and construction markets. Construction Partners has been a leader in seven of the past nine quarters due to this infrastructure spending tailwind. | TWST |
View |
| 2025 Q3 | Nov 8, 2025 | Baird Small/Mid Cap Growth Equity Fund | -3.2% | -9.6% | AAON, ADMA, AFRM, ALAB, BMI, BOOT, BRBR, BROS, BURL, BWXT, CASY, CAVA, CLWD, COCO, DKNG, ELF, EXAS, FDS, FOUR, FSS, HLI, INSM, INSP, IONQ, LII, MASI, MKTX, MTSI, NBIX, PEN, PODD, QBTS, RGTI, SOFI, TARS, TTAN, TWLO, TXRH, WAY, WING, WSO | AI, growth, healthcare, momentum, Quality, semiconductors, small cap, software | AI enthusiasm drove significant benchmark outperformance through semiconductor and infrastructure plays, with quantum computing stocks adding over 2% to benchmark weight despite extreme valuations. The market's insatiable desire for AI beneficiaries created meaningful factor headwinds for the portfolio. | View | |
| 2024 Q2 | Jun 30, 2024 | Baird Small/Mid Cap Growth Equity Fund | 6.9% | 2.7% | AAON, APPF, BAH, CACI, CNMD, DECK, FIVE, FND, FSS, GKOS, HEI, INSP, ITCI, JNJ, LGIH, LII, MANH, MEDP, NBIX, PODD, POOL, PRCT, RBC, RGEN, RXST, SPSC, SSD, TARS, TREX, TXRH, VERX, XPEL, ZBRA | AI, Defense Spending, growth, healthcare, small caps, software, technology | Artificial intelligence continues to drive outperformance in technology-related businesses. The portfolio benefits from AI tailwinds through utilities and telecommunications sectors. AAON's recent BASX Solutions acquisition provides exposure to datacenter infrastructure builds driven by AI needs. | View | |
| 2023 Q2 | Jun 30, 2023 | Conestoga Small Cap Composite | 10.1% | 7.8% | AAPL, AXON, BL, DSGX, FICO, FOXF, FSS, LMAT, MLAB, MRCY, MSFT, NOVT, PYCR, RBC, ROAD, SITE, SPSC, SSD, TREX, WSO | growth, industrials, Performance, small cap, technology | Investor enthusiasm for Artificial Intelligence drove performance of seven large technology stocks that were responsible for nearly all of the S&P 500's return in the first six months of 2023. The portfolio suffered from lack of exposure to the computer hardware industry which was up almost 75% over three months. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Meridian Growth Fund | Federal Signal Corp. | Industrials | Machinery | Bull | NYSE | Contrarian Investing, innovation, Municipal Equipment, Production Normalization, Sewer Cleaners, Specialty Machinery, Street Sweepers | View Pitch |
| Dec 3, 2025 | Fund Letters | Amy Zhang | Federal Signal Corporation | Industrials | Industrial Machinery | Bull | NYSE | aftermarket, backlog, Equipment, Industrial, infrastructure, Municipal, Safety | View Pitch |
| Nov 1, 2025 | Seeking Alpha | Seeking Alpha | Federal Signal Corporation | Pollution & Treatment Controls | Neutral | backlog, Federal Signal, leverage, M&A, Margin Improvement, order intake, organic growth, Revenue Growth, specialty equipment, valuation | View Pitch | ||
| Oct 24, 2025 | Value Investors Club | ShowMeThe$$ | Federal Signal Corp. | Industrials | Specialty vehicles | Bear | NYSE | ARPA cliff, Competitive pricing, Equipment | 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. | ||||||||