HUM

HUM

HUM

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Aug 25, 2025	Davis New York Venture Fund	-	11.5%	AMAT, AMZN, BRK-B, COF, CVS, DANSKE.CO, DGX, HUM, META, MGM, OC, SOLV, TECK, TOU.TO, TSN, TXN, UNH, USB, VTRS, WFC	AI, Concentration, financials, inflation, Quality, technology, Transition, value	GenAI is likely the most transformational technological development in modern history, driving major advances across industries while creating significant competitive, economic and social risks. The market for AI products and services is still in early days with fierce competition, making it risky to project long-term winners based on recent performance. AI will prove disruptive to once stable industries in ways difficult to anticipate.		View
2024 Q2	Aug 12, 2024	Eagle Capital Management	5.1%	18.6%	AA, AAPL, AER, AMZN, AON, CHTR, CMCSA, COF, COP, DFS, ELV, GE, GEV, GOOGL, GS, HLT, HUM, LLY, META, MSFT, NVDA	Concentration, large cap, Passive, S&P 500, technology, valuation	The S&P 500 has approximately 35% of its capital in only 10 companies, nearly double the concentration the index has averaged over the past twenty years. Eight of the top ten companies are in technology, creating extreme sector concentration risk that makes the index riskier than historically.		View
2024 Q2	Jul 10, 2024	Dodge & Cox Stock Fund	7.2%	16.3%	ALNY, CI, COHR, CVS, FI, GE, GOOGL, GSK, HPE, HUM, JCI, MCHP, MET, MSFT, OXY, RTX, SCHW, SNY, WFC, ZBH	Concentration, financials, healthcare, large cap, technology, value	The Fund takes a cautious approach towards stocks with very optimistic outlooks for growth and margins, finding more opportunities in companies with lower valuations and less economic sensitivity. The Fund trades at an attractive valuation of 13.9 times forward earnings compared to 21.6 times for the S&P 500.		View
2024 Q1	May 15, 2024	Third Point Partners	3.9%	14.0%	AAP, AAPL, AMZN, BBWI, DD, GOOGL, HUM, INTC, LSEG.L, META, MRVL, MSFT, NFLX, NVDA, PCG, TSM, VST	AI, Data centers, energy, semiconductors, technology, value	AI is a key element of the thesis for nearly half of Third Point's equity positions. The technology favors incumbents who are deploying financial and intellectual war chests to win the AI arms race. Best-run legacy companies like Microsoft and Amazon have built enormous competitive advantages and seen their growth vectors accelerate.		View
2024 Q1	May 15, 2024	Appleseed Fund	0.0%	0.0%	AER, AGNC, ARDX, BEI.TO, CCJ, CF, DG, EVR, GNK, HLF, HUM, ITRN, MOS, RHHBY, SFM, VFC, WCC	Defensive, gold, healthcare, inflation, value	Gold has risen 20% over six months to new all-time highs driven by monetary debasement, emerging market demand especially from China, central bank purchases exceeding 1,000 tonnes annually, and physical gold flows shifting from West to East. The fund expects gold to outperform the S&P 500 over the next decade.	AGNC HUM	View
2025 Q1	Apr 8, 2025	Matrix Dividend Income	-	-	ABBV, BDX, BK, CSCO, DG, FI, GNRC, GS, HUM, JPM, LOW, MDT, META, PEP, QCOM, RTX, TGT, TMO, TSN, USB	dividends, financials, healthcare, tariffs, technology, value, volatility	The administration's tariff threats and April 2 Liberation Day 10% tariffs on all imports caused significant market disruption. Tariffs are viewed as policy mistakes that will increase inflation, slow economic growth, and force businesses and consumers to pull back on investments and spending.	TGT PEP GNRC	View
2025 Q1	Apr 8, 2025	Matrix Large Cap Value Strategy	-	-	ABBV, BDX, BK, CSCO, DG, FI, GNRC, GS, HUM, JPM, LOW, MDT, META, PEP, QCOM, RTX, TGT, TMO, TSN, USB	dividends, financials, healthcare, tariffs, technology, value, volatility	The administration's tariff threats and April 2 Liberation Day 10% tariffs on all imports created significant market disruption and economic uncertainty. The manager views these tariffs as a policy mistake that will lead to inflation and economic slowdown, comparing them to an act of war that taxes goods and disrupts the post-war economic system.	TGT PEP GNRC	View
2024 Q1	Apr 29, 2024	Eagle Capital Management	-	-	AAPL, AMD, AMZN, AVGO, HUM, INTC, NVDA, QCOM, SAP, TSM, WWD	aerospace, duration, healthcare, long-term, semiconductors, technology, value	Humana's Medicare Advantage business faces margin pressure from post-pandemic medical procedure catch-up, tighter CMS reimbursement, and industry mispricing. The company expects 2024-25 earnings weakness but believes industry conditions are near trough with multi-year recovery ahead.	TSM SAP WWD AMZN HUM	View
2026 Q1	Apr 28, 2026	Diamond Hill Small-Mid Cap Strategy	-2.5%	-2.5%	AR, AVTR, CIEN, HII, HUM, ICLR, LAMR, LPLA, PNFP, RKT, RRX, RTO.L, SSNC, WTW	AI, defense, energy, healthcare, mid cap, Quality, small cap, volatility			View
2026 Q1	Apr 28, 2026	Pzena Focused Value strategy	-4.7%	-4.7%	ACN, AVT, C, CDW, COF, CTSH, DAL, DOW, DOX, FMC, HUM, OSK, SWKS	energy, financials, healthcare, industrials, technology, value		CDW ACN CTSH COF HUM	View
2026 Q1	Apr 28, 2026	Diamond Hill Mid Cap	-2.0%	-2.0%	AIG, AR, AVTR, CARR, CIEN, FCX, HUM, KMB, LAMR, MGM, RRX, RTO, SSNC, WAY	AI, Defensive, energy, Geopolitical, healthcare, mid cap, Quality			View
2024 Q1	Apr 25, 2024	Artemis US Select Fund	-	-	AAPL, ALL, CEG, CNM, EXP, HUM, META, NSC, NVDA, PCG, SAIA, TFII, WDC, ZTS	AI, industrials, infrastructure, Outperformance, stock selection, technology, Transportation	Meta leveraged its AI Research SuperCluster to regain advertising targeting ability after Apple's privacy changes, supporting ad revenue recovery. AI integration within Meta's advertising business has been a key driver of performance.	CNM ALL NSC META AAPL	View
2024 Q1	Apr 15, 2024	Equity Management Associates	12.7%	29.1%	AAPL, AMAT, AMZN, BABA, CSCO, DBX, DKS, ETSY, FANG, GOOGL, HUM, META, MSFT, MSTR, NVDA, RHI, SMCI, TOL, UNH, WSM	AI, China, free cash flow, Quality, technology, valuation, value	NVIDIA has become the dominant AI beneficiary with market cap rising to $2.5 trillion from $350 billion. The manager draws parallels to Cisco during the tech bubble, noting similar valuations and warning of downside risks if AI expectations are not met. They emphasize the difficulty of predicting long-term winners in transformative technologies.		View
2024 Q1	Apr 15, 2024	Diamond Hill Mid Cap	8.3%	13.3%	ADM, AIG, BWA, EXR, FANG, GNRC, HUM, JCI, KEX, OZK, PH, POST, RRR, RRX, SBAC, WCC	energy, financials, healthcare, industrials, mid cap, real estate, value	The fund initiated a position in Diamondback Energy (FANG), a scaled, low-cost energy exploration and production company in one of the US's most prolific shale basins. The company focuses on cost efficiency and prudent, sustainable management of its assets, and is well-positioned for free cash-flow generation over the long term.		View
2024 Q1	Apr 15, 2024	Diamond Hill Large Cap Strategy	7.9%	14.7%	AIG, ALL, CAT, EXR, GM, HCA, HUM, KEY, LH, MSFT, SBAC, SYY, TFC	Electric Vehicles, financials, healthcare, large cap, rates, REITs, technology, value	General Motors continues capitalizing on the shift to electric vehicles while maintaining the strength of its core gas-engine truck and SUV business. BorgWarner faced near-term volatility in the ongoing shift to electric vehicles and hybrids, which has impacted results and weighed on shares.		View
2024 Q1	Apr 15, 2024	Distillate Capital Fundamental Stability & Value	0.0%	16.0%	AAPL, AMAT, AMZN, BABA, CSCO, DBX, DKS, ETSY, FANG, GOOGL, HUM, META, MSFT, MSTR, NVDA, RHI, SMCI, TOL, UNH, WSM	AI, China, free cash flow, international, large cap, Quality, valuation, value	NVIDIA has become the dominant AI story with market cap rising to nearly $2.5 trillion from $350 billion. The manager compares NVIDIA's valuation to Cisco during the tech bubble, noting similar price-to-sales ratios but acknowledging NVIDIA's extraordinary growth in AI demand and pricing power.		View
2024 Q1	Apr 15, 2024	Distillate Capital Large Cap Value	0.0%	19.7%	AAPL, AMAT, AMZN, BABA, CSCO, DBX, DKS, ETSY, FANG, GOOGL, HUM, META, MSFT, MSTR, NVDA, RHI, SMCI, TOL, UNH, WSM	AI, China, free cash flow, large cap, Quality, technology, Valuations, value	NVIDIA has become the dominant AI story with market cap rising to nearly $2.5 trillion from $350 billion. The manager draws parallels to Cisco during the tech bubble, noting similar valuations and warning of downside risks if AI expectations are not met. While optimistic about AI's transformative potential, they emphasize the difficulty of predicting long-term winners.		View
2024 Q1	Apr 15, 2024	Distillate Capital Small/Mid Cap Quality & Value	0.0%	5.6%	AAPL, AMAT, AMZN, BABA, CSCO, DBX, DKS, ETSY, FANG, GOOGL, HUM, META, MSFT, MSTR, NVDA, RHI, SMCI, TOL, UNH, WSM	AI, free cash flow, international, Quality, small caps, valuation, value	NVIDIA has become the dominant AI story with market cap rising to $2.5 trillion from $350 billion, creating valuation concerns. The manager draws parallels to Cisco's bubble peak, noting NVIDIA trades at 20x forward sales versus the S&P 500's 2.7x. While AI represents transformative technology, the manager emphasizes difficulty predicting long-term winners and prefers avoiding rich valuations.		View
2024 Q1	Apr 15, 2024	Bireme Capital	-2.0%	-2.0%	AAPL, CGO.TO, HUM, IMB.L, META, NFLX, ORI, RICK	Behavioral Finance, Concentration, global, Long/Short, value	Bireme exploits cognitive biases to identify mispriced value opportunities, focusing on securities affected by availability, representativeness, extrapolation, familiarity, and anchoring biases. The firm expects the value factor to provide a long-term tailwind after underperforming for over a decade.		View
2025 Q1	Mar 31, 2025	Eagle Capital Management	0.7%	0.7%	AA, AER, AMZN, AON, BAYRY, CHTR, CMCSA, COF, COP, DFS, EL, ELV, GE, GEV, GOOGL, HLT, HUM, INTU, LBRDK, LEN	AI, diversification, Geopolitical, long-term, Recession, tariffs, uncertainty, value	The administration is serious about changing trade flows and will implement significant tariffs, though ultimate levies expected to come down from headline rates. Tariffs are a form of consumption tax shared by consumers and foreign exporters, with corporate profits expected to be somewhat lower. Manufacturing capacity additions to the U.S. will be limited to quick-cycle projects with good returns on capital.		View
2024 Q1	Mar 31, 2024	Orbis Global Equity	-	-	CPAY, ELV, GOOGL, GPN, GXO, HUM, IBKR, UNH	Bottom-up, healthcare, Managed Care, US, valuation, value	MCOs benefit from aging population and increased outsourcing of Medicare and Medicaid administration. UnitedHealth and Elevance have grown earnings 15-17% annually over ten years with strong moats and growth runways. Current pessimism around political risk, Medicare Advantage cost pressure, and UnitedHealth's cyberattack creates attractive entry points.	ELV UNH	View
2024 Q4	Feb 10, 2025	Eagle Capital Management	-	-	AER, AMZN, AON, CMCSA, COP, GOOGL, HUM, LNSTY, MSFT, SHEL, UNH, WDAY, WWD	earnings, energy, healthcare, long-term, technology, value	Eagle defines value as a philosophy anchored in math, seeking investments that can generate double-digit returns by reaching a 10% yield on capital employed. The firm analyzes long-term earnings power rather than current multiples, as demonstrated by their 10-year forward earnings yield analysis of S&P 500 companies.	HUM UNH COP AMZN	View
2024 Q4	Dec 31, 2024	Diamond Hill Large Cap Strategy	-2.2%	12.1%	AMZN, BAC, BLDR, CL, EXR, FCX, GM, HCA, HUM, LEA, LULU, PEP, SBAC, SYK, WFC	Banking, consumer, healthcare, large cap, REITs, technology, value	Trade policy uncertainty has fueled a rise in the US dollar and is roiling local politics globally. President-elect Trump's tariff threats are creating market shifts and uncertainty among central banks, with the Bank of Japan explicitly citing uncertainty around Trump's policies as reason for pausing rate increases.		View
2024 Q4	Dec 31, 2024	Burke Wealth Managament The Focused Growth Strategy	2.7%	28.4%	AAPL, ACN, ADBE, AMZN, CHTR, CMCSA, CRM, CRWD, CVS, GOOGL, HUM, LLY, MSFT, NOW, NVDA, NVO, SNOW, UNH	AI, growth, healthcare, large cap, regulation, software, technology, Telecommunications	The manager discusses the dawn of the Agentic Age where AI agents will solve problems and complete business tasks, with marginal cost of labor approaching zero for tasks AI can complete. AI agents will allow knowledge workers to operate at the top of their degree and eliminate mindless tasks. The manager expects this to drive productivity gains and help solve labor shortage issues.		View
2024 Q4	Dec 31, 2024	Davis Global Fund	-	22.7%	005930.KS, 0700.HK, 2318.HK, 3690.HK, AMAT, AMZN, BRK-A, COF, CVS, ENT.L, GOOGL, HUM, META, MGM, NPN.L, PRX.AS, TCOM	AI, China, gaming, global, semiconductors, Stimulus, technology, value	Fund positioning for AI emergence through established market leaders with proven business models either using AI to improve platforms or key semiconductor players building AI ecosystem. Meta using AI for content suggestions and ad targeting. Tencent benefiting from AI-driven ranking improvements. Cloud providers Amazon and Alphabet seeing revenue acceleration from AI workloads.		View
2024 Q4	Dec 31, 2024	Davis New York Venture Fund	-	17.2%	005930.KS, AMAT, AMZN, BRK-B, CI, COF, DGX, GOOGL, HUM, META, MGM, OC, TECK.TO, TOU.TO, TSN, TXN, USB, VTRS, WFC	AI, Concentration, financials, healthcare, industrials, inflation, technology, value	Generative AI is likely one of the most transformational technological developments in modern history, creating new risks and driving major advances across industries. The market for AI products is still early with fierce competition, making it risky to project long-term winners based on recent performance. AI will likely prove disruptive to stable industries in ways difficult to anticipate.		View
2024 Q3	Nov 19, 2024	Eagle Capital Management	-	-	AMZN, AON, CHTR, CMCSA, COF, COP, DFS, ELV, GEV, GOOGL, GS, HLT, HUM, META, MSFT, NFLX, OXY, SAP, TSM, WWD	aerospace, Aftermarket, growth, Quality, value	Eagle views aerospace as one of the most attractive segments of the global economy, driven by strong demand growth and technical moats. The company highlights Woodward's unique position in aerospace aftermarket with tripled content share on new generation narrowbody aircraft.	WWD	View
2024 Q3	Nov 13, 2024	Appleseed Fund	0.0%	0.0%	AER, AGNC, ARDX, CCJ, CF, DG, DLTR, DSX, EL, GRVY, HLF, HUM, MOS, MRC, MSFT, NVDA, SFM, SNV, SRUUF, WLFC	commodities, defensives, energy, inflation, Mining, nuclear, uranium, value	The fund sees a structural supply deficit in uranium markets driven by dramatically increasing demand from nuclear energy expansion while supply growth remains inadequate. Uranium prices have increased significantly over the past 5 years but the bull market is still in early innings due to persistent supply shortfalls.	SRUUF CCJ	View
2025 Q3	Oct 31, 2025	Bireme Capital	-	-	AAF.L, AAPL, BOL.PA, DIS, HUM, ITRN, ORI, RICK, SWON.SW	Alpha Generation, Behavioral Finance, Cognitive Biases, Concentration, Global Equities, value	Bireme focuses on exploiting cognitive biases to identify mispriced value opportunities in global equities. The firm targets concentrated positions in undervalued securities where behavioral biases create systematic mispricings. Their approach has allowed them to avoid value traps and significantly outperform traditional value strategies.		View
2024 Q3	Oct 3, 2024	Vltava Fund	0.0%	0.0%	AAPL, AMZN, BN, BRK-B, GOOGL, HUM, KLAC, META, MKL, MSFT, NVDA, OSB.L, STLA	AI, energy, fiscal policy, global, inflation, infrastructure, technology, value	The AI investment wave spans multiple sectors with first-tier beneficiaries being semiconductor companies like NVIDIA. Building AI clusters requires massive infrastructure investments including new semiconductor factories, energy sources, and associated infrastructure. The construction of AI centers may necessitate a 20% increase in US energy consumption over the next decade.	BN	View
2024 Q3	Oct 20, 2024	Distillate Capital Fundamental Stability & Value	0.0%	16.0%	ABBV, ABNB, AMAT, AVGO, BMY, CSCO, CVS, ETSY, FDX, FISV, HD, HUM, LMT, MCK, PH, QCOM, TMUS, TOL, UNH, WSM	large cap, Quality, risk management, small cap, valuation, value	The market shows extreme valuation risk with the S&P 500 trading at just the 13th percentile of historical free cash flow yields. Over 40% of the S&P 500 trades at NTM P/E ratios above 30x, similar to 2000 bubble conditions. The most expensive 15 megacap stocks account for 40% of market cap while trading at a 72% premium to the rest of the market.		View
2024 Q3	Oct 20, 2024	Distillate Capital Large Cap Value	0.0%	19.7%	ABBV, ABNB, AMAT, AVGO, BMY, CSCO, CVS, ETSY, FIS, HD, HUM, LMT, MCK, PH, PYPL, QCOM, TMUS, TOL, UNH, WSM	free cash flow, large cap, Quality, risk management, valuation, value	The market shows extreme valuation risk with the S&P 500 trading at expensive levels historically. Current trailing free cash flow yield of 3.2% ranks in just the 13th percentile of history. Over 40% of the S&P 500 trades at NTM P/E over 30x, similar to 2000 bubble conditions.		View
2025 Q3	Oct 15, 2025	Ariel Global Fund	5.0%	-	009150.KS, 0425.HK, 3436.T, 6460.T, 6981.T, BT-A.L, FDX, FME.DE, FSLR, HUM, INF.L, INTC, MTB, PUB.PA, ROG.SW, SYENS.BR, VT	AI, Energy Transition, global, healthcare, semiconductors, Telecommunications, value	The fund is positioned to benefit from Edge AI adoption through holdings in semiconductor and electronic component companies. Murata Manufacturing is benefiting from rising demand for Edge AI which significantly increases multilayer ceramic capacitor content per device. Samsung Electro-Mechanics is well-positioned to benefit from rising Edge AI adoption and accelerating demand for AI accelerators.		View
2024 Q3	Oct 10, 2024	O’Keefe Stevens Advisory, Inc	0.0%	0.0%	ABBV, ABNB, AMAT, AVGO, BMY, CSCO, CVS, ETSY, FDX, FI, HD, HUM, LMT, MCK, PH, QCOM, TMUS, TOL, UNH, WSM	large cap, Quality, risk management, small caps, valuation, value	The market shows extreme valuation risk with the S&P 500 trading at expensive levels historically. Over 40% of the S&P 500 trades at NTM P/E over 30x, similar to 2000 bubble conditions. The most expensive 15 megacap stocks trade at a 72% premium to the rest of the market and account for almost 40% of total market cap.		View
2024 Q4	Jan 8, 2025	Matrix Dividend Income	-	-	AMGN, BDX, BK, CSCO, DG, GILD, HUM, MS, PEP, PNC, UNH	dividends, financials, growth, healthcare, rates, technology, value	Manager expects Value stocks to outperform Growth after more than a decade of underperformance. They anticipate market rotations and regression to the mean for Growth stocks, creating favorable conditions for Value investing.	PEP DG AMGN	View
2024 Q4	Jan 8, 2025	Matrix Large Cap Value Strategy	-	-	AMGN, BDX, BK, CSCO, DG, GILD, HUM, MS, PEP, PNC, UNH	dividends, financials, growth, healthcare, inflation, rates, technology, value	Manager expects Value to outperform Growth after more than a decade of underperformance. They anticipate market rotations in 2025 and a regression to the mean for Growth stocks, creating a favorable environment for Value investing that would provide a tailwind for Matrix's portfolios.	PEP DG AMGN	View
2024 Q3	Sep 30, 2024	Diamond Hill Large Cap Strategy	7.9%	14.7%	ACN, AON, BLDR, CAT, COP, CVX, FANG, GOOGL, HCA, HON, HUM, NVR, PH, SBAC	energy, healthcare, industrials, large cap, rates, technology, value	The Federal Reserve cut US rates 50 basis points in September and signaled several more rate cuts are on the table. Several other major global central banks cut rates too, including the European Central Bank, Swiss National Bank and People's Bank of China. The apparent end of the higher interest-rate cycle helped spur markets higher in September.	BLDR ACN AON	View
2024 Q3	Sep 30, 2024	Diamond Hill Mid Cap	8.3%	13.3%	ALGT, ASH, BOKF, CIEN, CIVI, CTRA, CUBE, DEI, HII, HUM, LANC, NVR, PH, RRX	defense, energy, industrials, interest rates, mid cap, real estate, value	Initiated position in Huntington Ingalls Industries, a critical supplier to the US Navy and provider of technology solutions to the Department of Defense. As the sole provider of aircraft carriers and one of only two suppliers of nuclear submarines, HII is well-positioned to meet Department of Defense needs for potential Pacific conflict preparation. The company has high visibility into strong demand over the next 5 to 10 years due to the long-cycle nature of its products.	HII	View
2024 Q2	Jul 26, 2024	Diamond Hill Mid Cap	8.3%	13.3%	ADM, BSX, CIVI, ENOV, GDDY, GNRC, HUM, LH, MAA, NXPI, PH, RRR, RRX, SYY, UDR, VRSN, WCC	AI, mid cap, Quality, technology, value	AI-related stocks have driven increasingly narrow market performance, with a small number of massive technology stocks driving the majority of index returns. This creates opportunities for active managers to add value by avoiding the temptations of following trends and maintaining disciplined fundamental approaches. The concentration in AI stocks affords opportunities to identify high-quality, underappreciated companies outside the obvious front lines of the latest fad.		View
2024 Q2	Jul 25, 2024	Davis Global Fund	0.0%	0.0%	005930.KS, 0700.HK, 1299.HK, 3690.HK, AMAT, AMZN, BAER.SW, BRK-B, COF, D05.SI, DANSKE.CO, DAR, GOOGL, HUM, INTC, META, NPSNY, PRX.AS, TSN, WFC	AI, China, global, semiconductors, technology, value	AI drove strong earnings for many portfolio companies including Meta, Amazon and Applied Materials. Meta is creating huge value by using AI to improve content and retool advertising to engage target audiences more precisely. Applied Materials benefits from AI demand through advanced packaging for high-bandwidth memory and multi-chip integration.		View
2023 Q2	Jul 25, 2023	Diamond Hill Large Cap Strategy	7.9%	14.7%	ABBV, AIG, AMZN, DIS, FERG, HCA, HUM, KMX, MSFT, PFE, TFC, TGT, TTWO, WY	AI, Banking, healthcare, large cap, rates, technology, value	The fund emphasizes value investing philosophy and approach, believing it is well-suited to an environment with higher rates and inflation where value stocks are positioned to produce abundant cash flows. The team focuses on achieving value-added results through active portfolio management.	ICLR\|LLY\|PLTR\|SNPS\|TGT FERG AMZN BRK/A\|CSGP\|KMX AIG	View
2023 Q3	Apr 10, 2023	Vltava Fund	0.0%	0.0%	ELV, HUM, STLA	Concentration, healthcare, long-term, Quality, risk management, value	Manager extensively discusses investment risk philosophy, rejecting volatility as a risk measure and instead focusing on permanent loss of capital. Emphasizes three pillars of risk management: staying within circle of competence, avoiding permanent capital loss, and emphasizing good price with margin of safety.	CHKP. ELV	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 29, 2026	Fund Letters	Pzena Focused Value strategy	Humana Inc.	Healthcare Plans	Health Care Plans	Bull	New York Stock Exchange	CMS, health insurance, healthcare, Medicare Advantage, Regulatory, Value	View Pitch
Apr 13, 2026	Fund Letters	Appleseed Fund	Humana Inc.	Health Care	Managed Health Care	Bull	NYSE	contrarian, Government Health Insurance, healthcare, managed care, Medical Loss Ratios, Medicare Advantage, Value	View Pitch
Apr 13, 2026	Fund Letters	Eagle Capital Management	Humana Inc.	Health Care	Managed Health Care	Bull	NYSE	contrarian, Cyclical Recovery, defensive, healthcare, managed care, market leader, Medicare Advantage, Regulatory	View Pitch
Apr 13, 2026	Fund Letters	Eagle Capital Management	Humana Inc	Health Care	Health Care Providers & Services	Bull	NYSE	contrarian, earnings decline, healthcare, Medicare Advantage, Pure-Play, regulatory challenges, turnaround	View Pitch
Aug 7, 2025	Seeking Alpha	Sivanand Birusumanti	Humana Inc	Health Care	Healthcare Plans	Neutral	NYSE	—	View Pitch
Aug 7, 2025	Seeking Alpha	Motti Sapir	Humana Inc.	Health Care	Healthcare Plans	Neutral	NYSE	—	View Pitch

BSD Shareholders of HUM

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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