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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q1 | Apr 12, 2025 | Longleaf Partners Small-Cap Fund | 1.5% | 1.5% | GHC, GMKKY, PHC, PK, SAM | - | View | ||
| 2025 Q3 | Oct 28, 2025 | The London Company Small Cap | 1.6% | -3.3% | AWI, GHC, HAE, IPAR, NGVT, WTM | cyclicals, Housing, industrials, materials, Quality Investing | The small-cap strategy lagged the index amid speculative rallies in unprofitable stocks, but management reaffirmed confidence in balance-sheet strength and cash generation. Top contributors included Armstrong World Industries and Ingevity, supported by cyclical recovery in materials and industrials. Managers remain focused on resilient, attractively valued businesses that can compound through market cycles as housing and tariffs remain headwinds. | GHC NGVT AWI |
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| 2025 Q3 | Oct 15, 2025 | Longleaf Partners Small-Cap Fund | 2.0% | 6.4% | CLW, CNX, CUERVO* MM, GHC, GRUMAB MM, MAT, OSCR, PCH, RYN, TRIP, WTM | Compounding, free cash flow, Share repurchase, small caps, Value Investing | Longleafs Small-Cap Fund focuses on undervalued, high-quality small-cap franchises generating strong free cash flow. The team notes speculative excess in unprofitable small caps but remains confident in holdings such as Gruma, Becle, and White Mountains, which have multiple catalysts for value realization. Management sees substantial upside from disciplined ownership and shareholder alignment. | TRIP US MAT US WFG US CNX US |
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| 2025 Q4 | Jan 14, 2026 | Longleaf Partners Small-Cap Fund | 1.1% | 7.6% | ALX, CLW, CNX, CUERVO.MX, ESRT, GHC, GLIBA, GRUMA.MX, MAT, PCH, RYN, SAM, SHEN, TRIP, WTM | Alcohol, Media, real estate, small cap, Telecommunications, undervalued, value | Fund focuses on undervalued companies trading below intrinsic value with P/V ratios in low-60s%. Manager emphasizes buying quality companies at discounted prices when market favors unprofitable, lower quality stocks. Significant exposure to alcoholic beverage companies including Becle (tequila/whiskey manufacturer) and Boston Beer. Alcohol industry faces consumption headwinds but companies have strong brands and pricing power. Holdings in Empire State Realty and Alexander's provide exposure to New York real estate. Despite political concerns about Mayor Mamdani, on-the-ground leasing trends outpace weak stock performance. Graham Holdings diversified conglomerate includes broadcast television assets that could benefit from increased M&A activity. Kaplan education segment returning to growth after multi-year turnaround. | PK ALX ESRT CLW SAM OSCR MAT GHC GLIBA |
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| 2024 Q4 | Jan 16, 2025 | Longleaf Partners Small-Cap Fund | -1.6% | 9.7% | 3G3B GR, CNX, GHC, KODK, LLYVA, OSCR, WEST | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 16, 2026 | Fund Letters | Ross Glotzbach | Graham Holdings Company | Consumer Discretionary | Education Services | Bull | New York Stock Exchange | Balancesheet, conglomerate, Education, healthcare, media | View Pitch |
| Nov 29, 2025 | Fund Letters | Brian Campbell | Graham Holdings Company | Health Care | Diversified Consumer Services | Bull | NYSE | capital allocation, cashflow, diversification, Education, healthcare, M&A, Regulation | View Pitch |
| Aug 13, 2025 | Seeking Alpha | Pedro Goulart | Graham Holdings Company | Health Care | Education & Training Services | Neutral | NYSE | — | 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. | ||||||||