GDYN

GDYN

GDYN

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Aug 7, 2025	NCG Small Cap Growth Strategy	12.7%	-1.9%	AAON, AGYS, ALHC, AVPT, CDNA, CELH, CRS, CWK, ELF, GDYN, GWRE, HXL, INOD, MTSI, RXST, SAIA, SPRY, STRL, TMDX, TTAN	growth, healthcare, infrastructure, rates, small cap, technology, Trade Policy	Small cap growth stocks participated in the recent market rally, but further opportunity exists. The rolling 10-year annualized return by small vs large stands at -7.3% and is the worst ever going back to 1926, and the valuation of the small cap sector relative to large caps is in the 5th percentile historically.		View
2025 Q2	Aug 7, 2025	NCG SMID Cap Growth Strategy	13.5%	-2.5%	ALHC, CDNA, CELH, CRS, ELF, GDYN, SAIA, SPRY, STRL, TMDX, TTAN, VRT	growth, healthcare, infrastructure, rates, small caps, technology, Trade Policy	Strong forces driving increased infrastructure spending in the US have been gaining momentum for the past couple years and remain intact. The new administration is working to accelerate this trend and NCG is finding companies which are direct beneficiaries.		View
2025 Q2	Aug 5, 2025	Baron Small Cap Fund	10.3%	0.3%	ASGN, BWIN, CAKE, CWA, DKNG, DXCM, ENS, FROG, GDYN, GWRE, HH, HLLY, ICLR, IDXX, INSM, IT, KNSL, KTOS, LLYVA, NCNO, NEOG, ODD, PLNT, RRR, SEMI, SIZE, TDG, UTZ, VRT	AI, defense, growth, small caps, technology, value	AI remains the dominant and most compelling market theme. Vertiv Holdings, the fund's largest position, is a direct play on AI infrastructure buildout for data centers. The market became increasingly confident in the durability and longevity of AI growth during the quarter.		View
2025 Q1	Mar 31, 2025	NCG Micro Cap Growth Strategy	14.8%	14.8%	ACVA, AGX, AGYS, ALHC, ALKT, ARQ, ATRO, CSTL, CVLG, DAVA, DCBO, FLYW, FROG, GDYN, HROW, IRTC, MRTN, NEO, OLO, PAL, PDFS, PYCR, SDHC, SMWB, TNDM	growth, healthcare, Micro Cap, small caps, technology, valuation	NCG emphasizes investing in what they believe are the fastest growing and highest quality companies in America. They maintain focus on fundamental growth drivers of each holding and seek companies that can grow revenue and profits at strong rates in any economic environment.		View
2025 Q1	Mar 31, 2025	Baron Small Cap Fund	-9.1%	-9.1%	ASGN, BFAM, CAKE, FA, GDYN, GTLS, GWRE, IBTA, INDI, IT, KNSL, KTOS, NEOG, RDNT, RPAY, RRR, TDG, TTD, VRT, WCN	AI, growth, insurance, small caps, tariffs, technology, Trade Policy	The introduction of Chinese AI app DeepSeek disrupted expectations for AI infrastructure rollout, causing significant declines in AI-benefiting tech stocks. This raised investor concerns about reduced need for data center capital expenditures and slower growth for companies like Vertiv. Despite the disruption, the manager believes the complex roadmap for new chip introductions will still drive demand for advanced cooling solutions.	PAR RADNQ	View
2025 Q1	Mar 31, 2025	Wasatch Micro Cap Fund	-16.6%	-16.6%	ADUS, BOW, COCO, ESQR, EZPW, GCMG, GDYN, HCI, LMB, MAMA, PNTG, WEAV, XPOF	Biotechnology, Concentration, financials, healthcare, insurance, Micro Cap, value	The Fund's overweight to the financials sector was a large contributor to performance relative to the benchmark. The Fund held several insurance companies whose stocks were higher after announcing strong operating results, including HCI Group providing homeowners insurance in Florida and Bowhead Specialty Holdings focused on casualty and professional liability insurance.	ADUS XPOF WEAV EZPW BOW HCI	View
2024 Q4	Dec 31, 2024	Baron Small Cap Fund	-1.1%	13.3%	ALTR, ASGN, AZPN, BFAM, BLD, CAKE, DRVN, FOXF, FROG, GDYN, GTLS, GWRE, HLI, HQY, IBP, ICLR, INTA, IT, JBT, KNSL, NEOG, NPO, PLNT, RRR, TDG, VRT	AI, Data centers, growth, industrials, long-term, small caps, technology	AI-related data center buildout is driving extraordinary demand for Vertiv's power and cooling solutions. The company raised organic sales guidance to 12-14% CAGR for the next five years, benefiting from enormous capital investment in data centers to enable AI applications. JFrog is also positioned to benefit as generative AI adoption accelerates, driving the need to manage new binary types and increasing overall application complexity.		View
2022 Q4	Dec 31, 2022	Alger Weatherbie Specialized Growth Fund	5.8%	9.5%	CLB, GDYN, GKOS, MEG, PI, XMTR	-			View
2022 Q4	Dec 31, 2022	Baron Small Cap Fund	9.6%	14.5%	ASGN, DXCM, EWCZ, GDYN, GTLS, INSP, IT, NEOG, PLNT, TTD, VRT	-			View
2025 Q3	Nov 11, 2025	Prosper Stars & Stripes	9.8%	8.6%	AGYS, BRBR, GDYN, JACK, KLG, PKE, RAL, TATT, TRNS	aerospace, AI, defense, healthcare, Long/Short, small caps, technology	The fund sees significant opportunities in aerospace companies, particularly those benefiting from maintenance cycles and growth in auxiliary power units. TAT Technologies is positioned to capture market share in the B737 and A320 family aircraft markets with a total addressable market of $2.5 billion.	TATT	View
2022 Q3	Sep 30, 2022	Baron Small Cap Fund	9.6%	14.5%	AVNT, AXNX, AZPN, CAKE, CLVT, GDYN, HLLY, ICLR, IT, KNSL, MRCY, RPAY, TTD	-			View
2023 Q2	Jul 23, 2023	Argosy Investors	10.6%	10.6%	DAVA, GDYN, OLLI, TWKS, ZROZ	Cash, Defensive, interest rates, IT Services, risk management	Manager maintains extremely defensive positioning with 52% cash, emphasizing risk control over aggressive deployment. Believes current environment warrants heightened caution due to interest rate impacts that haven't fully materialized in the economy yet.	ZROZ ARGX BB\|DAVA\|DDOG\|GLOB\|ILMN\|LOAR\|MELI\|NET\|NU\|NVDA\|TSM	View
2022 Q2	Jun 30, 2022	Baron Small Cap Fund	9.6%	14.5%	ASGN, CGNX, COLD, DRVN, GDYN, GTLS, IT, SHLS, SPT	-			View
2023 Q1	Mar 31, 2023	Wasatch Small Cap Growth Strategy	7.6%	7.6%	BOOM, CYBR, FIVE, FOXF, GDYN, INSP, MEDP, PCTY	growth, healthcare, inflation, interest rates, Quality, small caps, technology	The strategy focuses on U.S. small-cap growth companies, specifically those in the Russell 2000 Growth Index. The managers believe small-cap growth companies with strong fundamentals will reassert themselves as economic conditions normalize, particularly as high-quality companies can take advantage of falling equity prices through buybacks and acquisitions.	CYBR PCTY GDYN FIVE ASIC\|CWAN\|INSP\|KRMN\|KTOS\|MAC\|MEG\|RH\|WYNN MEDP	View
2022 Q4	Jan 3, 2023	Wasatch Small Cap Growth Strategy	7.6%	7.6%	BOOM, CYBR, FIVE, FOXF, GDYN, ISNP, MEDP, PCTY	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
May 1, 2026	Fund Letters	Alger Small Cap Focus Fund	GeneDx Holdings Corp.	Information Technology Services	Health Care Technology	Bull	NASDAQ	diagnostics, Genetic Testing, Genome Sequencing, Genomics, Pediatric, proprietary database, rare diseases, Whole Exome Sequencing	View Pitch
Apr 27, 2026	Fund Letters	Wasatch Small Cap Growth Strategy	Grid Dynamics Holdings, Inc.	Information Technology	IT Services	Bull	NASDAQ	buying opportunity, Cloud computing, Digital transformation, geopolitical risk, IT services, Management Quality, Ukraine	View Pitch
Jan 8, 2026	Fund Letters	Ken Korngiebel	Grid Dynamics Holdings, Inc.	Information Technology	IT Services	Bear	NASDAQ	Digital transformation, Generative Ai Risk, IT services, macro headwinds, Outsourcing	View Pitch

BSD Shareholders of GDYN

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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