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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 21, 2025 | Miller Value Partners Deep Value Strategies | - | -13.6% | GCI, JELD, NBR | deep value, Market Concentration, Mean reversion, small caps, Valuations | The letter emphasizes deep value opportunities in small and micro-cap equities following an extended period of underperformance and extreme valuation dispersion. Management draws parallels to prior cycles where small caps delivered outsized returns after market concentration peaked. The outlook anticipates market broadening, mean reversion, and strong absolute returns driven by earnings normalization and rerating. | NBR JELD TPC GCI |
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| 2025 Q3 | Oct 14, 2025 | Madison Mid Cap Fund | 1.9% | 2.8% | BRO, GCI, IT | Artificial Intelligence, Mid Caps, momentum, Quality, tariffs | The fund notes that AI and utilities dominated mid-cap performance as momentum trading surged. Managers remain skeptical of AI speculation, favoring durable, shareholder-friendly firms like Medpace and Ross Stores. They highlight tariff uncertainty and maintain focus on high-quality, undervalued companies for long-term compounding. | ANET APH MEDP |
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| 2024 Q3 | Oct 10, 2024 | Miller Value Partners Deep Value Strategies | 4.6% | 20.1% | GCI, NBR, QUAD, UNFI | - | View | ||
| 2025 Q4 | Jan 26, 2026 | Baron Discovery Fund | 0.2% | 11.0% | ALKT, CWAN, CWST, DKNG, DT, ESTA, EXAS, FROG, GCI, GTLB, INDIE, LLYVA, LOAR, MRCY, PRMB, RGEN, S, SITM, TREX, VRNS, WAY | AI, defense, growth, healthcare, Quality, small caps, software | The fund discusses AI as a transformative force requiring careful alignment of goals with humanity's interests. They view AI advancement as creating massive capital investment opportunities, particularly in datacenter buildout, while acknowledging concerns about AI's impact on software competitive advantages. The fund maintains significant exposure to enterprise software companies, particularly cybersecurity and systems software. They believe complexity of enterprise integration protects established players from AI disruption, with companies like Dynatrace, Varonis, and SentinelOne offering defensive moats through proven resilience and security. The fund focuses on innovative healthcare companies including molecular diagnostics (Exact Sciences), medical devices (Establishment Labs), and healthcare IT (Waystar). They see opportunities in companies improving patient outcomes through technology and automation in healthcare processes. The fund holds defense companies benefiting from increased defense budgets, including allocations for unmanned vehicles and missile defense systems. They trimmed positions after meaningful valuation increases but maintain defense as a core holding area. | CWST GLIBA PRMB LLYVA VRNS INDI FROG CAS WAY CWAN ESTA EXAS |
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| 2023 Q2 | Jul 14, 2023 | Miller Value Partners Deep Value Strategies | 4.6% | 20.1% | GCI, GTN, NBR, NVDA, NYT, QUAD, WAL | - | View | ||
| 2025 Q1 | Apr 14, 2025 | Miller Value Partners Deep Value Strategies | -12.8% | -12.8% | GCI, GTN, JELD, QUAD, UNFI | - | View | ||
| 2023 Q1 | Apr 14, 2023 | Miller Value Partners Deep Value Strategies | 4.6% | 20.1% | GCI, MHO, NGR | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 8, 2026 | Fund Letters | Daniel Lysik | Gannett Co. Inc. | Communication Services | Publishing | Bull | New York Stock Exchange | cashflow, Digital, media, turnaround, valuation | 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. | ||||||||