HGV

HGV

HGV

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2026 Q1	May 13, 2026	Buckley Capital	-4.6%	-4.6%	ACHC, HGV, SEZL	Fintech, healthcare, small cap, special situations, turnaround, value			View
2025 Q1	Apr 24, 2025	Laughing Water Capital	-13.0%	-13.0%	CTLP, HGV, LFCR, NN, PAR, PLYA, THRY, VTY.L, XPOF	Biotechnology, Buybacks, Resilience, small caps, software, Spectrum, tariffs, value	Manager discusses Trump administration's tariff plans and their potential economic impact, noting uncertainty around implementation and suggesting much may be posturing. Believes Trump will likely declare victory on tariffs with minimal actual changes to avoid losing midterm elections.	PAR VTY.L NN LFCR CDMO XPOF	View
2020 Q4	Dec 31, 2020	Clark Street Value	-	24.3%	ACEL, ATXI, CLNY, ECTM, FVE, GBRK, GLPI, HGV, HHC, MCHX, MMAC, PRSP, PSTH, RESI, STAY, WH	-			View
2025 Q3	Nov 4, 2025	Aristotle Small Cap Equity Fund	3.2%	-1.5%	AEIS, ALE, AZEK, BWIN, COLB, CRI, DLB, DY, FLWS, HAE, HGV, JHX, KN, KNX, MRCY, MTSI, OGS, PCP, PPBI, REI, SPNS, WNC	Banking, defense, healthcare, Natural Gas, semiconductors, small caps, value	Small cap equities delivered robust performance in Q3 2025, with the Russell 2000 reaching its first all-time high since November 2021. Small caps benefited from dovish Fed rhetoric, attractive relative valuations, broadening market breadth, earnings recovery, and rotation away from mega-cap stocks. Valuations remain compelling relative to large caps, with the Russell 2000 trading near multi-decade lows on a relative basis.	COLB MTSI MRCY SUPN	View
2023 Q3	Oct 19, 2023	Laughing Water Capital	2.5%	11.1%	APLS, CDMO, HGV, LFCR, THRY	Biotechnology, Cloud, Macro, small caps, value, volatility	Manager discusses Avid Bioservices as a biologic contract drug manufacturer facing near-term headwinds from biotech spending slowdown but positioned to benefit from favorable industry dynamics including patent cliff, outsourcing trends, and supply-demand imbalance. Expects significant cash flow generation as new capacity gets filled over 4-5 years.	THRY CDMO	View
2025 Q3	Oct 14, 2025	Aristotle Small/Mid Cap Equity	2.6%	-	AEIS, AGI.TO, ALE, AZEK, CIEN, COLB, CRI, FLWS, HAE, HGV, JHX, MTSI, PNW, PPBI, PRMB, SCI, SUPN, VYX, WTRG, WWW	AI, Banking, gold, healthcare, mid cap, small cap, technology, Utilities	Artificial Intelligence driven optimism fueled risk-on sentiment as companies with AI exposure or disruptive potential saw disproportionate gains. Investors chased momentum and future earnings potential over traditional valuation metrics. Ciena benefited from AI-related demand and technological innovation in optical networking equipment.		View
2024 Q2	Jul 23, 2024	Buckley Capital	4.8%	0.5%	BFIT, CC, DNTL.TO, HGV, IWG.L	Chemicals, Europe, Fitness, Russell 2000, small caps, Timeshare, Travel, value	Manager believes small caps are at their worst level relative to large caps since 2000, creating significant opportunity. Russell 2000 vs S&P 500 trading at all-time low valuation similar to 2000. Expects small caps to outperform large caps over next 5 years, similar to 2000-2004 period when Russell 2000 beat S&P 500 by 9.5% annualized.	BFIT HGV	View
2023 Q2	Jul 17, 2023	Laughing Water Capital	2.5%	11.1%	APG, CDMO, CTLT, DGX, ENZ, HGV, LFCR, LH, NVR, TACT, THRY, VTY.L	Biotech, Buybacks, Homebuilders, small caps, software, value	Manager believes small cap stocks have been left behind by a market focused on mega-cap tech and AI exposure, creating an attractive opportunity set. The fund does not own any mega-cap tech stocks and has benefited from focusing on individual small businesses with idiosyncratic problems that management teams can solve over 3-5 years.		View
2024 Q2	Jul 17, 2022	Laughing Water Capital	2.5%	11.1%	APG, CDMO, CTLP, ERIC, HALO, HGV, LFCR, LMB, NN, THRY, VTY.L, XPOF	Biotechnology, contrarian, Franchising, momentum, quantitative, small caps, value	Manager focuses on contrarian investing in businesses trading at single digit multiples of free cash flow, believing good businesses led by incentivized people will not trade at these levels forever. The strategy targets hidden corners of the market with optical, operational, or structural problems that are likely temporary.	XPOF CTLP	View
2022 Q4	Jan 31, 2023	Laughing Water Capital	2.5%	11.1%	AIM CN, APG, CDMO, HGV, LDE GR, THRY, VTY LN	-			View
2023 Q4	Jan 25, 2024	Laughing Water Capital	2.5%	11.1%	ALC, APG, BVH, CDMO, DGX, ENZ, HGV, LFCR, LH, LMB, NN, RCL, THRY, VNDA, VTY.L, VZ	Buybacks, concentrated, long-term, small caps, value	Manager focuses on small and very small cap stocks despite recent underperformance. Notes that small caps have significantly underperformed large caps, with micro cap ETF returning only 8% in 2023. Believes this creates opportunity as small caps are only 4% expensive vs 20-year average while large caps are 88% expensive.	ANNX	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Buckley Capital	Hilton Grand Vacations	Consumer Discretionary	Hotels, Resorts & Cruise Lines	Bull	NYSE	Brand Affiliation, consolidation, Customer Upgrades, Cyclical Recovery, deleveraging, hospitality, market leader, recurring revenue, share repurchase, Timeshare	View Pitch
Aug 7, 2025	Seeking Alpha	Daniel Javier	Hilton Grand Vacations, Inc.	Consumer Discretionary	Resorts & Casinos	Bull	NYSE	—	View Pitch

BSD Shareholders of HGV

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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