FTDR

FTDR

FTDR

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q3	Sep 30, 2024	Fenimore Small Cap Strategy	12.7%	-	APH, ASGTF, BROS, CBZ, CHH, CIGI, CTAS, DFH, ENTG, ESAB, FSV, FTDR, LSTR, MCHP, PNFP, POOL, SITE, SSB, TT, VRSK	AI, interest rates, Quality, real estate, small caps, value	Increasing enthusiasm surrounding AI and considerable capital investments in its infrastructure have helped propel positive stock market returns this year. While no one knows exactly what the future of this technology holds, it's likely to help businesses improve efficiency by allowing them to organize and analyze data faster than ever before.		View
2025 Q2	Jun 30, 2025	Fenimore Dividend Focus Strategy	5.7%	-	ADI, AME, APH, AVY, BN, BRO, BWIN, CDW, CHE, CTAS, DFH, ENTG, EXLS, FND, FTDR, GEHC, HEI, HGTY, HLI, KEYS, MCHP, MKC, NOMD, PGR, PNFP, ROST, SITE, TRRSF, TT, VRSK, WAT, WSO, ZBRA	AI, Quality, rates, small cap, tariffs, value	Fenimore emphasizes high-quality companies with strong financials, durable business models, and proven management as the right approach for long-term investors. These quality profiles enable companies to endure downturns, compound returns, and manage risk more effectively compared to low-quality businesses with low profitability, unstable earnings, and high debt levels.	GEHC ENTG	View
2025 Q2	Jun 30, 2025	Fenimore Small Cap Strategy	2.6%	-	APH, BWIN, CDW, CHE, CTAS, DFH, ENTG, EXLS, FND, FTDR, GEHC, HEI, HGTY, MCHP, MKC, NOMD, ROST, SITE, TRRSF, TT	AI, dividends, mid cap, Quality, small cap, tariffs, value	Fenimore emphasizes high-quality companies with strong financials, durable business models, and proven management as the right approach for long-term investors. They believe quality profiles enable companies to endure downturns, compound returns, and manage risk more effectively compared to low-quality, speculative businesses that outperformed in Q2.		View
2025 Q2	Jun 30, 2025	Fenimore Value Strategy	5.8%	-	APH, BWIN, CDW, CHE, CTAS, DFH, ENTG, EXLS, FND, FTDR, GEHC, HEI, HGTY, MCHP, MKC, NOMD, ROST, SITE, TRRSF, TT	AI, dividends, insurance, Quality, small cap, tariffs, value	Fenimore emphasizes high-quality companies with strong financials, durable business models, and proven management as the right approach for long-term investors. They believe quality profiles enable companies to endure downturns, compound returns, and manage risk more effectively compared to low-quality, speculative businesses that outperformed in Q2.		View
2024 Q1	May 3, 2024	Curreen Capital	0.9%	1.9%	AAP, ADV, CACC, ENR.DE, FTDR, GETB.L, VFC	energy, global, retail, small caps, turnaround, value	Manager initiated position in Siemens Energy, viewing the electrical power industry as returning to growth after a decade of stagnation. Believes Siemens Energy will successfully turn around its wind business and offers attractive upside-to-downside valuation.	NILB.ST GETB.L FTDR CACC ADV AAP ENR.DE	View
2026 Q1	Apr 29, 2026	Curreen Capital	-14.0%	-14.0%	AAP, ENR.DE, FTDR, FTRE, GETB.L, VFC	small cap, special situations, spinoffs, Turnarounds, value		VFC ENR.DE GETB.L FTDR FTRE AAP	View
2024 Q1	Mar 31, 2024	Fenimore Small Cap Strategy	6.1%	6.1%	APD, BIP, BOC, CBZ, CIGI, CTAS, DFH, EXPO, FTDR, HEI, IEX, JKHY, MCHP, MLM, NOMD, PAYX, SYK, TROW, TT, VRSK	consumer, financials, Quality, small cap, value	The FAM Small Cap Fund rose 6.06% in the first quarter, outperforming the Russell 2000 Index by 88 basis points. The fund continues to focus on small and midsize businesses that meet strict investment criteria, with outperformance attributed to strength in financial and consumer holdings.		View
2024 Q1	Mar 31, 2024	Fenimore Dividend Focus Strategy	10.3%	10.3%	APD, BIP, BOC, CBZ, CIGI, CTAS, DFH, EXPO, FTDR, HEI, IEX, JKHY, MCHP, MLM, NOMD, PAYX, SYK, TROW, TT, VRSK	dividends, healthcare, industrials, mid cap, Quality, technology, value	The fund's holdings increased their cash dividends by 8.6% on average over the past 12 months. Top dividend growers included Microchip Technology at 25.7%, Cintas Corporation at 17.4%, and Verisk Analytics at 14.7%.		View
2023 Q1	Mar 31, 2023	Fenimore Small Cap Strategy	6.0%	6.0%	BOC, CHH, DFH, FND, FTDR, NVEI.TO, PAYA, PNFP, TSU.TO	Banking, consumer, Quality, small caps, technology	The fund focuses on small-cap quality stocks, which outperformed during the quarter. The Russell 2000 Growth Index gained 6.22% while the Russell 2000 Value Index declined by -0.66%. Quality stocks outperformed during the quarter, and the manager believes that the highest quality businesses should generate the best investment results over longer time periods.		View
2023 Q1	Mar 31, 2023	Fenimore Dividend Focus Strategy	4.6%	4.6%	ADI, AJG, APD, BOC, CHH, DFH, ENTG, FHB, FND, FTDR, G, JKHY, MCHP, NVEI.TO, PAYA, PNFP, SYK, TROW, TSU.TO, ZBRA	Banking, dividends, mid cap, Quality, technology, value	The fund focuses on dividend-paying companies with 11 of 27 holdings increasing dividends in 2023 with an average growth rate of 11.3%. Microchip Technology led with a 41.5% quarterly dividend increase year-over-year.		View
2025 Q3	Oct 9, 2025	Fenimore Dividend Focus Strategy	-0.7%	-	APH, BROS, BWIN, CBZ, CHE, CIGI, CTAS, CWST, ENTG, EXPO, FSV, FTDR, GEHC, JKHY, LSTR, MCHP, POOL, ROST, SPSC, VRSK	AI, dividends, Quality, rates, small caps, value	AI euphoria fueled strong market performance in Q3, with mega-cap AI leaders driving gains. Portfolio companies are using AI to improve operations, reduce costs, and better serve customers. Several holdings are participating directly in AI adoption, particularly in data center infrastructure buildout.	FSV CN VRSK US ROST US APH US	View
2025 Q3	Oct 9, 2025	Fenimore Small Cap Strategy	-5.1%	-	APH, BROS, BWIN, CBZ, CHE, CIGI, CTAS, CWST, ENTG, EXPO, FSV, FTDR, GEHC, JKHY, LSTR, NOMD, POOL, ROST, SPSC, VRSK	AI, dividends, Quality, rates, small caps, value	AI euphoria fueled strong market performance in Q3, with mega-cap AI leaders driving gains. Portfolio companies are using AI to improve operations, reduce costs, and better serve customers. Several holdings are participating directly in AI adoption, particularly in data center infrastructure buildout.	CWST US	View
2025 Q3	Oct 9, 2025	Fenimore Value Strategy	1.4%	-	APH, BROS, BWIN, CBZ, CHE, CIGI, CTAS, CWST, ENTG, EXPO, FSV, FTDR, GEHC, JKHY, LSTR, NOMD, POOL, ROST, SPSC, VRSK	AI, dividends, Quality, small caps, US, value	AI euphoria fueled strong market performance in Q3, with mega-cap AI leaders driving much of the gains. Many portfolio companies are using AI to improve operations, reduce costs, and better serve customers. Several holdings are participating directly in AI adoption, particularly in data center infrastructure buildout.	LSTR US A US ROST US APH US	View
2025 Q3	Oct 6, 2025	HalvioCapital	12.6%	19.3%	4PNT.L, AAP, CACC, ENR.DE, FTDR, FTRE, GETB.L, KTB, THNC.TO, VFC	Apparel, Buybacks, healthcare, small caps, spinoffs, Turnarounds, value	Multiple portfolio companies are actively repurchasing shares, including Kontoor which has been buying back stock since its 2019 spinoff, and Credit Acceptance which is aggressively buying back its own shares despite weaker growth and profitability.	8841 JP 9478 JP MCCK US NLOP US CPH CN	View
2025 Q3	Oct 24, 2025	Curreen Capital	9.0%	18.5%	4IMPRINT, AAP, CACC, ENR.DE, FTDR, FTRE, GETB.L, KTB, THNC.TO, VFC	Apparel, Buybacks, healthcare, small cap, spinoffs, technology, Turnarounds, value	Multiple portfolio companies are executing turnaround strategies including Advance Auto Parts fixing its balance sheet and improving operations, Fortrea attempting to turn around after spinning out of Labcorp, and VF Corp rebuilding management and returning to growth after fixing its balance sheet.	FTRE THNC CN GETB GB KTB ENH FTRE THNC CN GETB GB KTB ENH	View
2024 Q3	Oct 24, 2024	Curreen Capital	0.9%	1.9%	AAP, CACC, EHAB, ENR.DE, FOUR.L, FTDR, GETB.L, NILB.ST, PLUX.PA, VFC	contrarian, Quality, small caps, spinoffs, Turnarounds, value	The fund focuses on buying quality businesses while they are temporarily out of favor in the stock market, describing their holdings as ugly ducklings that often languish for months before the market recognizes their value. The strategy involves starting small and buying more as stock prices drop to predetermined discounts.	VFC ENR.DE NILB.ST GETB.L FTDR EHAB CACC	View
2023 Q3	Oct 17, 2023	Curreen Capital	0.9%	1.9%	AAP, ADV, CACC, FTDR, GETB.L, NILB.ST	Cash, contrarian, discount, Opportunistic, Quality, value	Manager focuses on buying good businesses at meaningful discounts to downside valuation, requiring five-to-one upside to downside ratios. The strategy involves purchasing ugly ducklings - high quality businesses temporarily out of favor in the stock market.	GETB.L FTDR CACC ADV NILB.ST LNK.AX AAP	View
2025 Q3	Oct 15, 2025	O’Keefe Stevens Advisory, Inc	-	-	4PNT.L, AAP, CACC, ENR.DE, FTDR, FTRE, GETB.L, KTB, THNC.TO, VFC	Apparel, healthcare, small caps, spinoffs, Turnarounds, value	Multiple portfolio companies are actively repurchasing shares, including Kontoor which has been buying back stock since its 2019 spinoff, and Credit Acceptance which is aggressively buying back its own shares despite weaker growth.		View
2025 Q4	Jan 29, 2026	Curreen Capital	10.5%	31.0%	AAP, DND.TO, ENR.DE, FTDR, FTRE, GETB.L, TRUE-B.ST, VFC	energy, healthcare, small caps, spinoffs, Turnarounds, value	Curreen Capital has been particularly successful with spinoff investments since launch, with 2025's three biggest winners all being spinoffs. The manager views ugly duckling spinoffs as the best investment opportunities when they combine good businesses, capable management, and attractive pricing. The fund focuses on 'ugly ducklings' - good businesses run by capable managers bought at attractive prices with upside-to-downside ratios of at least 5:1. They target companies earning above 20% after-tax returns on capital over time. Siemens Energy benefited from the end of decade-long stagnation in global electricity demand, driven by deferred infrastructure maintenance, continued electrification, and rapid rise of AI spurring a new demand cycle.	AAP FTRE FTDR GETB LN ENG GR VFC	View
2025 Q4	Jan 13, 2026	Fenimore Small Cap Strategy	-4.1%	-11.6%	APH, BIPC, BROS, BWIN, CASS, CHH, CIGI, DFH, EXLS, EXPO, FND, FSV, FTDR, JKHY, LSTR, NOVT, OSW, PNFP, ROST, SPSC, TRRSF	AI, Quality, small cap, Speculation, underperformance, value	The update highlights selective small-cap growth investing focused on companies with niche leadership, strong balance sheets, and long runway opportunities. Volatility is viewed as a source of opportunity to add to high-quality businesses at reasonable valuations. Small-cap growth is positioned for recovery as earnings growth reaccelerates.		View
2023 Q2	Jul 28, 2023	Curreen Capital	0.9%	1.9%	ADV, CACC, FTDR, GETB.L, NILB.ST	Corporate Actions, small caps, SPACs, spinoffs, value	Manager invested in first SPAC (Advantage Solutions) despite viewing SPACs as generally unattractive. Notes that many SPACs overpaid for questionable assets and lost money for investors, but believes at least one baby was thrown out with the bathwater, creating opportunity.	ADV	View
2024 Q2	Jul 23, 2024	Curreen Capital	0.9%	1.9%	ADV, CACC, DND.TO, EHAB, FTDR, GETB.L, NILB.ST, SOLV, VFC	distressed, small caps, special situations, spinoffs, Turnarounds, value	Manager focuses on spinoff opportunities, specifically Solventum (spun from 3M) and Enhabit (spun from Encompass Health). These spinoffs typically face temporary challenges while establishing independence, creating attractive entry points for patient capital.	VFC EHAB DND.TO SOLV	View
2025 Q1	Apr 24, 2025	Curreen Capital	-4.7%	-4.7%	AAP, CACC, EHAB, ENR.DE, FTDR, GETB.L, HAVAS.PA, NILB.ST, VFC	Europe, small caps, spinoffs, Turnarounds, value	Manager focuses heavily on recent spinoffs like Havas (spun from Vivendi in December 2024) and Enhabit (spun from Encompass Health in July 2022). Notes that in market downturns, recent spinoffs are often sold aggressively, creating attractive opportunities.	HAVAS.AS	View
2023 Q1	Mar 31, 2023	Meridian Growth Fund	6.8%	0.0%	ACVA, ARVN, CCCC, CCSI, FTDR, ST	-			View
2023 Q1	Mar 31, 2023	Meridian Small Cap Growth Fund	6.2%	0.0%	ACVA, ALBO, CCSI, FTDR, HDSN, PMVP	-			View
2023 Q4	Jan 26, 2024	Curreen Capital	0.9%	1.9%	AAP, ADV, CACC, CCC.L, DND.TO, EHAB, FTDR, GETB.L, KAMBI.ST, LNK.AX, NILB.ST, VFC	Cash, contrarian, Opportunistic, Quality, small caps, value	Manager follows a disciplined value strategy, buying excellent businesses at meaningful discounts to downside valuation. The fund takes advantage of market weakness to purchase quality companies trading at ridiculously low prices, with positions bought 33-65% below recent highs.	NILB.ST LNK.AX GETB.L FTDR CACC ADV	View
2024 Q4	Jan 17, 2025	Curreen Capital	5.7%	7.7%	AAP, CACC, EHAB, ENR.DE, FTDR, GETB.L, JXN, KAMBI.ST, NILB.ST, TNET, TRUE-B.ST, VFC	Automotive, healthcare, small caps, Turnarounds, undervalued, value	Manager focuses on buying good businesses at attractive prices below conservative valuation estimates. Portfolio consists of undervalued companies trading at significant discounts to intrinsic value. Strategy emphasizes attractive upside-to-downside ratios across holdings.	ENR.DE NILB.ST FTDR VFC TNET EHAB AAP GETB.L CACC	View
2023 Q1	Jan 5, 2023	Curreen Capital	0.9%	1.9%	ADV, CACC, FTDR, GETB.L, NILB.ST	rates, risk management, small caps, Treasuries, value, yield curve	Manager extensively analyzes inverted yield curve patterns from 1953-present, showing that inversions historically lead to 20%+ market declines within 3 years. Current inversion creates heightened risk environment requiring defensive positioning.	GETB.L	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
May 6, 2026	Fund Letters	Curreen Capital	Frontdoor	Personal Services	Specialized Consumer Services	Bull	NASDAQ	capital allocation, Home Services, market penetration, recurring revenue, Service Plans, spinoff	View Pitch
Apr 28, 2026	Fund Letters	Curreen Capital	Frontdoor	Consumer Discretionary	Specialized Consumer Services	Bull	NASDAQ	asset-light, Contractor Network, Home Service Plans, market penetration, organic growth, Spinout, technology innovation, Video Chat App	View Pitch
Apr 28, 2026	Fund Letters	Curreen Capital	Frontdoor	Consumer Discretionary	Diversified Consumer Services	Bull	NASDAQ	Home Services, Low Penetration, recurring revenue, spinoff, subscription model, technology innovation	View Pitch
Apr 13, 2026	Fund Letters	Curreen Capital	Frontdoor	Consumer Discretionary	Diversified Consumer Services	Bull	NASDAQ	asset-light, Home Service Plans, Home Warranty, market penetration, spinoff, technology innovation, Value	View Pitch
Apr 13, 2026	Fund Letters	Curreen Capital	Frontdoor	Consumer Discretionary	Specialized Consumer Services	Bull	NASDAQ	capital allocation, Free Cash Flow, Home Services, market penetration, recurring revenue, Service Plans, spinoff	View Pitch
Apr 13, 2026	Fund Letters	Curreen Capital	Frontdoor	Consumer Discretionary	Specialized Consumer Services	Bull	NASDAQ	Free Cash Flow, Home Services, HVAC, market penetration, recurring revenue, Service Plans, spinoff	View Pitch
Jan 31, 2026	Fund Letters	Christian Ryther	Frontdoor, Inc.	Consumer Discretionary	Specialty Services	Bull	NASDAQ	Churn, Homewarranty, services, turnaround, valuation	View Pitch
Dec 5, 2025	Fund Letters	Christian Ryther	Frontdoor, Inc.	Consumer Discretionary	Environmental & Facilities Services	Bull	NASDAQ	Allocation, cashflow, Home, services, Subscription	View Pitch

BSD Shareholders of FTDR

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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