GEO

GEO

GEO

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Aug 7, 2025	Meridian Hedged Equity Fund	4.9%	-	ABNB, CVX, DHI, DHR, GEO, GFL, HUN, ICE, JPM, KVUE, MGM, MSFT, V, VST, YOU	energy, Hedged Equity, Options, Quality, risk management, technology, value	The fund benefits from AI-driven electricity demand through Vistra Corp, which is positioned to capitalize on surging power needs from AI data centers. Microsoft's AI monetization potential through OpenAI integration also contributed to performance.	HUN CVX KVUE MGM MSFT VST MGM MSFT VST	View
2025 Q2	Jul 16, 2025	Apis Flagship Fund	23.7%	-	064350.KS, 103140.KS, 103590.KS, 4403.T, 7513.T, 7751.T, GEO, MGNI	Ad Tech, Asia, defense, gold, infrastructure, Korea, nuclear, Space	Defense remains one of the most structurally supported sectors globally following decades of underinvestment. Defense budgets are expanding meaningfully across regions while next-generation technologies like drones, counter-drone systems, and directed-energy weapons are creating new markets for specialized companies. The fund holds positions in Korean defense names including Poongsan and Hyundai Rotem.	4403.T MGNI 4406 JP MGNI	View
2025 Q2	Jul 16, 2025	Apis Global Discovery Fund	23.6%	-	GEO, MGNI, NFLX, TLN	Advertising, Asia, defense, gold, infrastructure, Korea, nuclear, Space	Defense remains one of the most structurally supported sectors globally following decades of underinvestment, with defense budgets expanding meaningfully across regions. The emergence of next-generation technologies including drones, counter-drone systems, directed-energy weapons, and space-based defense applications is creating new markets for smaller, specialized companies. Korean defense holdings Poongsan and Hyundai Rotem were top performers in Q2.	4403.T MGNI 4406 JP MGNI	View
2025 Q2	Jul 16, 2025	Apis Deep Value Fund	23.2%	-	4403.T, 7013.T, GEO, GOOGL, IBM, INTC, MGNI, MSFT, NFLX, NVDA	Ad Tech, defense, gold, infrastructure, Korea, nuclear, Space, value	Defense remains one of the most structurally supported sectors globally following decades of underinvestment, with defense budgets expanding meaningfully across regions. The emergence of next-generation technologies including drones, counter-drone systems, directed-energy weapons, and space-based defense applications is creating new markets for smaller, specialized companies. Korean defense holdings Poongsan and Hyundai Rotem were among the top performers in Q2.	4403.T MGNI 4403 JP MGNI US	View
2025 Q1	Mar 31, 2025	Meridian Hedged Equity Fund	-0.2%	-0.2%	ABNB, ACVA, AMZN, DHI, DHR, GEO, GFL, ICE, LYV, MGM, V, YOU	Hedging, Options, Quality, tariffs, value, volatility	The first quarter witnessed marked shift in market volatility dynamics with VIX experiencing significant escalation from mid-February through March end. Higher volatility was driven by rising policy uncertainty from the new U.S. administration, specifically concerning aggressive tariff implementations. During periods of heightened uncertainty, investors are willing to pay more for options protection, potentially benefiting covered call writers.	AMZN ACVA MGM GEO V ICE	View
2024 Q4	Feb 10, 2025	Meridian Hedged Equity Fund	0.1%	13.1%	ABNB, AMT, AMZN, BABA, COTY, DHI, DHR, GEO, LYV, MGM, QCOM, V, VST, YOU	downside protection, Hedged Equity, large cap, Options, Quality, risk management	Amazon demonstrates strong positioning in digital commerce and cloud computing with secular growth drivers. The company delivered strong third-quarter results exceeding expectations despite mixed macro signals. Multiple value creation drivers include retail margin expansion, continued cloud growth, and scaling of high-margin businesses.	VST AMZN V COTY DHR AMT	View
2024 Q3	Oct 25, 2024	Fawkes Capital Management	0.0%	-	AGX, CLS, GEO, LEU	Data centers, energy, gold, Immigration, Macro, Thailand, uranium	AI's need for more data centers is increasing electricity demand. Argan benefits as one of few companies capable of building gas power plants in the US. Celestica manufactures data center components for hyperscaler customers during a time of scarcity.	LEU CLS GEO AGX	View
2025 Q3	Oct 24, 2025	Meridian Hedged Equity Fund	1.6%	-	ABNB, CHTR, DHI, DHR, GEO, GFL, ICE, JNJ, KVUE, LBRDA, LNG, LYV, META, MGM, MTCH, ORCL, YOU	AI, healthcare, Hedged Equity, inflation, Options, technology, value	The AI narrative dominated equity performance with solid results from Oracle and massive infrastructure commitments from OpenAI and Meta fueling momentum. Markets demonstrated comfort with extended monetization horizons, valuing AI's disruptive capacity above traditional financial metrics. Valuations across AI-related technology appear elevated by historical standards.	JNJ DHI ICE KVUE LBRDK JNJ DHI ICE KVUE LBRDK	View
2025 Q4	Jan 27, 2026	Voya MI Dynamic Small Cap Fund	0.0%	0.0%	BE, FLS, FOLD, FTRE, GEO, HPP	AI, Biotechnology, healthcare, industrials, real estate, small caps, technology	AI remained a dominant theme with strong headlines around innovation and elevated capital investment by major technology firms. Increased spending on AI infrastructure and adoption trends reinforced optimism about its role as a key driver of future growth. AI-driven innovation is supporting the broadening of market leadership beyond mega-cap growth. The fund focuses on US Small Cap Core equity strategy with broader market participation persisting, where small caps and cyclicals contributed to market performance. Market leadership is widening beyond mega-cap growth, creating opportunities in the small cap space. The fund held positions in commercial stage biotechnology companies focused on rare disease therapies. Amicus Therapeutics delivered strong results as product sales rose both domestically and abroad, while Fortrea Holdings provided operational services to biopharmaceutical companies with strong net bookings.	FTRE FOLD FLS GEO HPP BE	View
2025 Q4	Jan 21, 2026	Meridian Hedged Equity Fund	0.1%	0.0%	ABNB, AMZN, CB, DHI, DHR, DKNG, GEO, LNG, LW, LYV, MGM, MTCH, VST, YOU	energy, gaming, Hedged Equity, Homebuilders, Options, Travel, value	The fund holds positions in gaming companies including MGM Resorts International and DraftKings. MGM benefited from record results in Macau properties and BetMGM achieving profitability. DraftKings faced near-term pressures from earnings shortfalls and competitive pressures but maintains long-term earnings potential. The fund maintains exposure to energy companies including Vistra Corp and Cheniere Energy. Vistra is positioned to benefit from surging electricity demand driven by data centers and electrification trends, operating attractive nuclear and natural gas generation assets in tight power markets. The fund has exposure to travel-related companies including MGM Resorts and Clear Secure. Clear Secure provides biometric identity solutions for travelers and benefited from robust travel demand and operational efficiency during the quarter. The fund holds D.R. Horton as a top position, representing exposure to the homebuilding sector. The company is positioned in the residential construction market.	YOU DHR MGM VST DKNG LW	View
2025 Q1	Apr 15, 2025	Apis Global Discovery Fund	-2.3%	-2.3%	068270.KS, GEO, HCC, PLXS, SN, TALEN, USLM	defense, Energy Transition, Europe, Germany, industrials, infrastructure, small caps, Stimulus	Defense spending is a key growth driver with increased geopolitical tensions driving European rearmament efforts. The fund holds defense names like Hyundai Rotem and Kitron ASA, with the Defense and Aerospace segment expected to grow 20-30% annually through 2030. Management remains confident in long-term defense spending growth despite potential funding volatility.	SRC.L KIT.OL FRW.DE	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Meridian Hedged Equity Fund	The Geo Group, Inc.	Real Estate	Specialized REITs	Bull	NYSE	Border Security, Cash Flow Visibility, Correctional Facilities, deleveraging, Electronic Monitoring, government contracts, immigration enforcement	View Pitch
Apr 13, 2026	Fund Letters	Fawkes Capital Management	The GEO Group Inc	Real Estate	Specialized REITs	Bull	NYSE	Border Security, Electronic Monitoring, government contracts, High-Margin Technology, Immigration, Prison Operations, REIT	View Pitch
Jan 29, 2026	Fund Letters	Sanne de Boer	GEO Group, Inc.	Industrials	Security & Alarm Services	Bear	New York Stock Exchange	cashflow, Corrections, Government, restructuring, valuation	View Pitch
Oct 30, 2025	Value Investors Club	BlueFIN24	GEO Group Inc.	Industrials	Security & Alarm Services	Bull	NYSE	Contract Awards, Detention, Federal Spending, Immigration, Monitoring, security services	View Pitch

BSD Shareholders of GEO

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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