GTES

GTES

GTES

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 22, 2025	American Century Small Cap Value Fund	-0.4%	-	ACLS, AHL, CODI, DOO CN, ENOV, GMS, GPK, GTES, MRX	Balance Sheets, Mean reversion, small caps, valuation, value	The letter argues that small-cap value stocks remain deeply undervalued following years of underperformance. Management highlights balance sheet strength, pricing power, and mean reversion as key drivers of future returns. The outlook favors disciplined stock selection amid improving fundamentals.		View
2025 Q2	Jul 20, 2025	The London Company Small Cap	2.4%	-4.9%	ACIW, AWI, CABO, GTES, MATX, NEU, SGI, WTM	free cash flow, Quality, returns on capital, small cap, volatility	The letter emphasizes conservative small-cap investing focused on free cash flow generation and strong returns on capital. Market volatility and tariff-driven uncertainty have created dispersion and selective opportunity. Quality is viewed as a long-term advantage despite short-term performance headwinds.	ACIW AWI NEU GTES	View
2025 Q2	Jul 11, 2025	Heartland Value Plus Fund	1.9%	-6.5%	GTES, NVST, SIMO	Balance Sheets, cash flow, Margin Of Safety, valuation, value	The letter emphasizes disciplined value investing focused on companies trading below intrinsic value due to cyclical, temporary, or behavioral mispricing. Management highlights balance sheet strength, cash flow durability, and downside protection as critical in a late-cycle environment. The fund positions value as a long-term alpha source as market leadership broadens beyond expensive growth stocks.	NVST SIMO GTES	View
2024 Q1	Apr 15, 2024	FMI Small Cap Equity	-0.8%	10.7%	GTES	-			View
2025 Q4	Jan 27, 2026	Diamond Hill Small-Mid Cap Strategy	1.2%	8.5%	AMH, ARE, BAH, CCS, CIEN, CUBE, GIS, GTES, HII, HLIO, IAC, LEA, PRGO, SBAC, UDR, WCC, WIX, WLK, WNS	defense, healthcare, industrials, mid cap, real estate, small cap, technology, value	The portfolio faced headwinds from AI-driven market exuberance creating momentum-driven rallies favoring lower-quality businesses. However, some holdings like Ciena benefited from hyperscaler and AI-related demand optimism. The managers express caution about AI bubble concerns emerging in December. WESCO International's data center business reached nearly 20% of total revenue and drove better-than-expected organic growth. The rapid expansion of this segment was a key contributor to the company's outperformance during the quarter. Huntington Ingalls Industries benefited from strong execution, new frigate contract awards, and discussion of a potential Trump-class battleship. Booz Allen Hamilton faced pressure from Department of Government Efficiency initiatives but remains well-positioned given differentiated technology capabilities and sustained government demand. The portfolio includes exposure to various real estate segments including self-storage (CubeSmart facing occupancy pressures), wireless tower infrastructure (SBA Communications), life sciences real estate (Alexandria Real Estate), and single-family rentals (Invitation Homes). The sector faces headwinds from higher interest rates and housing market challenges.	INVH ARE BAH SBAC CUBE GTES HII WCC CIEN ZTS HII	View
2025 Q4	Jan 21, 2026	The London Company Small Cap	2.5%	-1.0%	AWI, CCC, CERT, DV, GTES, HAE, NEU, RVLV, WTM	Disciplined, Outperformance, Quality, Russell 2000, small caps, stock selection, value	The Small Cap portfolio outperformed the Russell 2000 Index in Q4, finishing 2025 on a high note with strong stock selection. The high beta rally that drove much of the index's 2025 gains showed signs of exhaustion in Q4, creating opportunities for disciplined stock pickers focused on quality companies. Value factors were the primary driver of returns during the quarter, led by stocks trading at lower prices relative to sales and book value. The portfolio's focus on companies trading at significant discounts to intrinsic value aligned well with this market environment. Quality factors were headwinds during the quarter, though the portfolio maintains its tilt toward profitable, financially stable companies that consistently generate free cash flow and high returns on unleveraged operating capital. This positioning is expected to provide resilience through shifting market regimes.	DV CCC GTES CERT NEU HAE	View
2024 Q3	Sep 30, 2024	Heartland Value Plus Fund	7.9%	1.5%	GTES, HAYW	-			View
2024 Q2	Jul 22, 2024	The London Company Small Cap	7.0%	8.9%	ACIW, CERT, DOOR, DV, ENOV, GTES, MATX, MBUU, MUSA, TPX	-			View
2025 Q1	Mar 31, 2025	Heartland Value Plus Fund	-8.2%	-8.2%	FCFS, GTES, THG	-			View
2022 Q4	Jan 27, 2023	Diamond Hill Small Cap Fund	8.5%	12.2%	ALGT, BBCP, ESAB, ESGRP, FTAI, GHM, GTES, ODC, RMNI, RRR, TGB, UFPT, WNS, WWW	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 29, 2026	Fund Letters	Chris Welch	Gates Industrial Corp plc	Industrials	Industrial Machinery	Bear	New York Stock Exchange	Automation, Industrial Cyclical, infrastructure, Margins, recovery	View Pitch
Jan 27, 2026	Fund Letters	Brian Campbell	Gates Industrial Corporation plc	Industrials	Industrial Machinery	Bull	New York Stock Exchange	Electrification, Industrial, Margins, productivity, restructuring	View Pitch
Jan 8, 2026	Fund Letters	Bradford Evans	Gates Industrial Corporation plc	Industrials	Industrial Machinery	Bull	New York Stock Exchange	aftermarket, Industrial, Margins, Pricing, tariffs	View Pitch
Jan 8, 2026	Fund Letters	Brian Campbell	Gates Industrial Corporation Plc	Industrials	Industrial Machinery	Bull	New York Stock Exchange	deleveraging, Free Cash Flow, Industrial, Pricing, Replacement Demand	View Pitch
Aug 8, 2025	Seeking Alpha	Heartland Advisors	Gates Industrial Corporation plc	Industrials	Specialty Industrial Machinery	Bull	NYSE	—	View Pitch

BSD Shareholders of GTES

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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