GRND

GRND

GRND

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 4, 2025	Maple Tree Capital – Jonagold	42.3%	-	DNUT, GRND, HIMS, LMND, NBIS, UPST	AI, Concentration, Fintech, growth, small caps, technology, volatility	Upstart's AI underwriting capabilities are central to the investment thesis, with the manager attending AI Day and emphasizing how AI improvements drive better credit decisions and expanding product offerings. The AI models are becoming more accurate and comprehensive while reducing business volatility.	GRDR HIMS LMND UPST GRND LMND	View
2025 Q2	Jul 4, 2025	Maple Tree Capital – Heartwood	26.3%	-	DNUT, GRND, HIMS, LMND, MCD, UPST	AI, Concentration, conviction, Fintech, growth, small caps, technology, volatility	Upstart's AI underwriting capabilities are central to the investment thesis, with the manager attending AI Day and emphasizing how AI models improve with more data collection. The company's AI has grown more accurate, comprehensive and adaptive, reducing business volatility through better credit assessment.	GRDR LMND UPST	View
2025 Q1	Apr 9, 2025	Maple Tree Capital – Heartwood	-18.0%	-18.0%	ASO, CRWD, DNUT, EA, GRND, HIMS, LMND, LYFT, RDDT, UEC, UPST	AI, growth, nuclear, small caps, tariffs, technology, volatility	President Trump launched sweeping tariffs on countries worldwide, catching markets off guard and sparking panic. These tariffs pose serious inflationary threats and have created a lose-lose scenario for the Fed. The manager views these extreme tariffs as partly a negotiating tactic but acknowledges justified market fear.	RDDT LYFT CRWD EA UEC ASO DNUT UPST	View
2025 Q3	Oct 8, 2025	Maple Tree Capital – Jonagold	-13.1%	-	ASO, CRWV, DNUT, GOOGL, GRND, HIMS, LMND, NBIS, PGR, SN, TSLA, UEC, UPST	AI, Concentration, conviction, growth, small caps, technology, volatility	The manager believes this AI-driven bull market remains in its long-term infancy, with deep capex spend by Big Tech companies signaling increased momentum. They see AI applications like Upstart and Lemonade becoming the next investment wave to build on top of infrastructure over the next 5 years.	GRND UPST	View
2025 Q3	Oct 8, 2025	Maple Tree Capital – Heartwood	40.0%	-	ASO, CRWV, DNUT, GOOGL, GRND, HIMS, LMND, NBIS, PGR, SN, TSLA, UEC, UPST	AI, Concentration, Fintech, small caps, uranium, volatility	The manager believes this AI-driven bull market remains in its long-term infancy with deep capex spend by Big Tech companies signaling increased momentum. They see AI applications like Upstart and Lemonade becoming the next investment wave to build on top of infrastructure over the next 5 years.	UPST CRWV NBIS UEC	View
2025 Q3	Oct 31, 2025	Voya Small Company Fund	-	-	AVPT, BE, CLF, GRND, PRIM, UEC	energy, growth, industrials, small caps, technology, value	Strong performance in technology and artificial intelligence-related stocks drove market gains during the quarter. Technology sector outperformed significantly, contributing to overall market strength.		View
2025 Q3	Oct 31, 2025	Voya MI Dynamic Small Cap Fund	7.0%	27.0%	AVPT, BE, CLF, GRND, PRIM, UEC	energy, growth, industrials, small caps, technology, value	Strong performance in technology and artificial intelligence-related stocks drove market gains during the quarter. The technology sector outperformed significantly, contributing to overall market strength.		View
2024 Q3	Oct 1, 2024	Maple Tree Capital – Heartwood	2.4%	0.0%	ADBE, ASO, CHGG, CRWD, DIS, GOOGL, GRND, HIMS, KKD, LMND, LYFT, RKLB, SMCI, SOUN, TSLA, UEC, UPST	AI, cybersecurity, growth, nuclear, Rideshare, small caps, turnaround, value	Initiated Crowdstrike after it fell ~40% following the July 19, 2024 tech outage. The manager viewed the outage as demonstrating Crowdstrike's power and moat, as the entire tech sector practically shut down. Despite fears of lawsuits and market share loss, analysts did not significantly revise earnings estimates, suggesting the impact was primarily multiple contraction.		View
2024 Q3	Oct 1, 2024	Maple Tree Capital – Jonagold	32.7%	0.0%	ADBE, ASO, CHGG, CRWD, DIS, DNUT, GOOGL, GRND, HIMS, LMND, LYFT, RKLB, SMCI, SOUN, TSLA, UEC, UPST	Fintech, growth, Rate Cuts, small caps, technology, turnaround	Jonagold strategically focuses on small-cap investments with substantial growth prospects that are temporarily out of favor due to cyclical trends or significantly misunderstood. The fund expects small caps to continue performing well as the Federal Reserve further reduces rates, with rate-sensitive securities front-loading near the end of Q3.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 8, 2026	Fund Letters	HenryInvests	Grindr Inc.	Communication Services	Social Media	Bull	New York Stock Exchange	LGBTQ+, Margins, Pricingpower, Socialmedia, Subscriptions	View Pitch
Nov 29, 2025	Fund Letters	HenryInvests	Grindr Inc.	Information Technology	Interactive Media & Services	Bull	NYSE	Community, Engagement, growth, monetization, Social, Subscription	View Pitch
Nov 25, 2025	Substack	Triples Investing	Grindr	Information Technology	Software - Application	Bull		deal certainty, earnings, Grindr, margin calls, Options trading, shareholder dynamics, social media, take-private bid, transaction potential, valuation	View Pitch
Oct 27, 2025	Substack	Toff Cap Monday Monitor	Grindr Inc.	Information Technology	Software - Application	Bull		financial performance, Grindr, intrinsic value, LGBTQ+, market conditions, premium, shareholder interest, social networking, stock-based compensation, take-private	View Pitch
Sep 9, 2025	Seeking Alpha	Seeking Alpha	Grindr Inc.		Software - Application	Bull		AI features, Bumble, dating app, Grindr, Match Group, monetization, Revenue Growth, risk/reward, user engagement, valuation compression	View Pitch

BSD Shareholders of GRND

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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