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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 5, 2025 | Auxier Asset Management | 2.5% | 8.7% | ABT, BAC, BDX, BK, BKNG, BRK.B, CAE, CI, ELV, GLW, GOOGL, KR, LINC, MA, META, MSFT, PM, UNH, V, ZBH | AI, Buybacks, healthcare, tariffs, technology, Travel, value | AI disruption has been a growing concern for investors as they are uncertain of long-term consequences. Apple research shows current LLMs only present an illusion of thinking and reasoning, producing results based on patterns rather than true reasoning. The largest tech companies expect to spend over $300 billion on AI infrastructure in 2025 alone. | BKNG GOOGL GOOGL |
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| 2025 Q2 | Jul 22, 2025 | Harbor Mid Cap Value Fund | 4.9% | 2.1% | ADT, BK, CNHI, FLEX, FOXA, HIG, HPQ, JAZZ, JBL, KR, MCK, NRG, ORI, PHM, SNX, STT, SYF, TAP, TXT, WDC | earnings, energy, financials, mid cap, technology, value | Value stocks were left behind in the market rally and continue to trade at significant discounts to their growth counterparts, enhancing the potential for outperformance if valuations between growth and value stocks revert to a more normal, historical average. The Fund trades at just over 10x forward earnings and 7x cash flow, which are significant discounts to the core and value benchmark. | MCK ADT |
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| 2025 Q2 | Jul 17, 2025 | Oakmark Fund- International Small Cap | 4.4% | - | AMZN, BWA, C, COP, CRM, CVS, FI, GOOGL, GPN, KR, NKE, SCHW, ZBH | AI, Buybacks, financials, large cap, technology, US, value | The fund focuses on purchasing stocks at meaningful discounts to intrinsic value estimates. During tariff-related market turmoil, they repositioned toward stocks offering greater risk-adjusted return potential, reducing holdings where prices held up well and adding where prices declined more than their view of intrinsic value. This opportunistic approach enhances margin of safety and potential returns. | ZBH CRM NKE AMZN ZBH CRM NKE AMZN GPN C |
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| 2024 Q1 | May 23, 2024 | Auxier Asset Management | 7.4% | 0.0% | AAPL, AMZN, ASML, BAC, BK, C, CPF, CSCO, GOOGL, KR, MA, META, MSFT, MU, NVDA, TSLA, TSM, USB, V, WMT | AI, Buybacks, financials, infrastructure, technology, Travel, Utilities, value | Top US tech firms are ramping up capital spending into AI infrastructure toward the $200 billion mark for 2024, benefiting hardware firms like Nvidia, Micron, ASML and Taiwan Semiconductor. Microsoft and OpenAI are working on a new data center and supercomputer project that could cost as much as $100 billion. High spending in the service industry on AI infrastructure could prove to be a long-term driver of inflation. | View | |
| 2024 Q2 | May 2, 2024 | TPG Angelo Gordon | - | - | ACI, AGR, AMZN, ANSS, COF, DFS, EVBG, IRBT, JBLU, KR, PGTI, PNM, SAVE, SNPS | CLO, CMBS, credit, high yield, Leveraged Loans, private credit, rates, real estate | Persistently elevated interest rates and uncertainty about future rate decisions continued to cloud the marketplace. Investment volume was down close to 50% year-over-year as of the end of February, reflecting uncertainty about pricing, elevated debt costs, and limited availability of financing. With $2 trillion of commercial mortgages set to mature over the next 36 months, there will be a growing opportunity to provide rescue capital or acquire high-quality assets at reset valuations. | View | |
| 2026 Q1 | Apr 29, 2026 | Jensen Investment | -2.5% | -2.5% | AON, BR, CDNS, FDS, G, HOLX, KEYS, KR, LH, LULU, ON, ROST, SHW, TTC | AI, competitive advantages, energy, mid cap, Quality, ROE, value | View | ||
| 2024 Q1 | Apr 15, 2024 | Oakmark Fund- International Small Cap | 7.4% | 0.0% | AAL, AMZN, CHTR, DAL, DE, GM, HCA, HLT, JNJ, KR, KVUE, META, UAL, WBD | Agriculture, Airlines, consumer discretionary, financials, healthcare, value | The fund focuses on purchasing stocks trading at meaningful discounts to intrinsic value estimates. They bought additional shares of underperforming holdings and are finding attractive opportunities amid growth stock outperformance to start the year. | KVUE DAL DE |
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| 2024 Q1 | Apr 15, 2024 | The Sound Shore Fund | 6.7% | 21.1% | BBWI, BKR, BRK-B, CAH, CNC, COF, ELV, FIS, GEHC, GM, HOLX, KHC, KMI, KR, LEN, MRK, OGN, PFE, PRGO, PVH, TEVA, TTE, WFC, WTW | Adaptability, contrarian, energy, large cap, Utilities, value | Sound Shore's contrarian investment process focuses on the adaptability and sustainability of company business models. The fund seeks companies that can best adapt and adjust to changing environments, as exemplified by holdings like Vistra and Constellation Energy that prepared their assets for dynamic markets while maintaining strong balance sheets. | AYI TEVA CEG VST |
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| 2026 Q1 | Apr 12, 2026 | Latitude Global Fund | - | - | KR, TSCO.L, UL | Defensive, Geopolitical, Grocers, risk management, value | KR |
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| 2025 Q1 | Mar 31, 2025 | Auxier Asset Management | 4.6% | 4.6% | AAPL, AFL, AIG, AMZN, BRK.B, GOOGL, HD, KO, KR, LOW, META, MMC, MNST, MO, MSFT, NVDA, PM, TRV, TSLA, UNM | AI, Buybacks, Consumer Staples, insurance, Leverage, tariffs, technology, value | Value outperformed growth during the quarter with the S&P 500 Value Index finishing up 0.28% while the S&P 500 Growth Index finished down 8.47%. This was the best performance for the value index relative to the growth index since 2022. The fund emphasizes in-depth, rigorous research and favors a systematic lower risk approach. | View | |
| 2025 Q1 | Mar 31, 2025 | The Gabelli Dividend Growth Fund | 1.5% | 1.5% | AAPL, AMZN, C, GOOGL, HPE, JPM, KR, MDLZ, MRK, NEM, PNC, TMUS, V, WFC, ZBH | dividends, financials, healthcare, tariffs, technology, value | The quarter was dominated by concerns about President Trump's tariff announcements, with levels announced on April 2nd being beyond almost any expectations. This led to broad-based declines in equity markets and created significant market uncertainty. | View | |
| 2025 Q1 | Mar 31, 2025 | The Sound Shore Fund | -1.9% | -1.9% | BRK.B, C, CHKP, COF, CTRA, DIS, EOG, FIS, GM, Gold, KMI, KR, LEN, MHK, MTCH, NSRGY, PVH, PYPL, TEVA, VST | energy, financials, healthcare, materials, technology, value | Sound Shore emphasizes their value investing approach, highlighting that their portfolio trades at 11.0 times forward earnings versus 20.1 times for the S&P 500. The manager notes that quality at an attractive price has performed well over the past five years as interest rates normalized from zero. | Gold CHKP DIS PYPL TEVA |
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| 2025 Q1 | Mar 31, 2025 | Harbor Mid Cap Value Fund | -2.7% | -2.7% | AIG, ALSN, AMKR, ATKR, BK, DOX, EBAY, FOXA, HIG, HPQ, KR, NFG, NRG, ORI, PHM, PVH, STT, TOL, UAL, UGI | consumer discretionary, financials, mid cap, Trade Policy, Utilities, value | The fund maintains a deep value discipline with stretched valuation spreads remaining historically wide. The portfolio continues to trade at discounts relative to the benchmark, focusing on high-quality, profitable companies that generate strong cash flow, pay dividends, and actively buy back shares. | View | |
| 2024 Q4 | Dec 31, 2024 | Auxier Asset Management | -2.1% | 11.3% | AAPL, AMP, AMZN, BAC, BK, BRK.B, C, GOOGL, KR, MA, META, MSFT, NVDA, PLTR, PM, TRV, TSLA, UNH, UNM, V | AI, Buybacks, financials, growth, insurance, real estate, technology, value | Technology and communication were the best performing sectors driven by AI excitement reaching new highs. The Magnificent Seven companies drove about half of the S&P 500's gain in 2024, with these companies expected to report 33% earnings growth versus 4% for the remaining S&P 500 companies. The manager is concerned by the large capital investment in AI by leading tech firms and government, with Wedbush projecting $2 trillion over the next three years. | View | |
| 2024 Q4 | Dec 31, 2024 | The Gabelli Dividend Growth Fund | 0.5% | 11.3% | AAPL, AMZN, C, JPM, KR, MDLZ, MRK, NEM, NFLX, PNC, TMUS, V, WFC | AI, financials, growth, interest rates, regulation, technology, value | Financial sector performed strongly in Q4 with 7.0% gain and 20% for 2024. Higher long-term rates and favorable yield curve steepening benefited banks. Expectations of easier regulatory policy under new administration supported large cap financial stocks. | View | |
| 2023 Q4 | Dec 31, 2023 | Auxier Asset Management | 7.4% | 0.0% | ABT, ACGL, AFL, AIG, AON, BAC, BK, BKNG, BRK-A, C, ELV, GOOGL, KR, MA, MCD, MDLZ, MMC, MRK, MSFT, PM, TRV, UNH, V, WFC | AI, Banking, energy, healthcare, insurance, small caps, technology, value | Artificial Intelligence drove significant investments in new AI programs and increased data center capacity. In a CNBC survey of top technology companies, 47% of respondents said that AI is their #1 budget item for the next 12 months. AI integration into cloud services benefited companies like Microsoft. | View | |
| 2023 Q3 | Nov 16, 2023 | Auxier Asset Management | 7.4% | 0.0% | AFL, AIG, AON, BP, BRK-A, COP, CVX, ELV, KR, LLY, MA, MCD, MDT, MMC, MRK, MSFT, NVO, PEP, PM, PSX, SBUX, TRV, TSM, UNH, V, VLO | energy, healthcare, insurance, rates, technology, value | Bond vigilantes emerged as longer-term rates rose due to growing government deficits and defense spending. The current bond bear market is the worst in US history with 30-year bonds down over 50% from 2020 highs. Higher rates are becoming the new normal, ending the era of free money. | View | |
| 2025 Q3 | Nov 13, 2025 | Auxier Asset Management | 5.4% | - | BA, BAC, BK, C, CAT, DEO, GD, GLW, GOOGL, KR, LMT, MA, META, MSFT, PH, PM, PSX, RTX, TAP, VLO | AI, Banking, credit, defense, energy, infrastructure, Speculation, technology | Robust capital investment boom in Artificial Intelligence is boosting the US economy and market, with up to half of 3.8% GDP gain attributable to tech capital spending. Companies like Alphabet, Microsoft and Meta are putting up exceptional growth in cloud computing, AI and digital advertising. The massive infrastructure buildout to expand data center capacity has boosted demand for traditional machinery and power solutions. | View | |
| 2025 Q3 | Oct 31, 2025 | Latitude Global Fund | - | - | AMZN, AZO, COR, COST, DG.PA, FOUG.PA, GOOGL, IBKR, JPM, KR, MCK, NFLX, RYA.L, SONY, SPOT, TGT, WMT | Buybacks, dividends, Europe, financials, healthcare, industrials, technology, value | The fund benefits from companies returning capital through dividends and buybacks, with almost 5% of annual return coming from this capital return. Ryanair has retired 7% of shares outstanding in just the last year. | View | |
| 2025 Q4 | Jan 21, 2026 | Harbor Mid Cap Value Fund | 4.1% | 16.0% | AMKR, BK, CFG, COIN, EA, ENS, EXPE, FOXA, GM, GTX, HIW, HLF, HOG, HOOD, HPQ, JAZZ, KR, NEU, OC, PHM, PLAB, PVH, SNDK, STT, TXT, WBD, WDC | Buybacks, consumer discretionary, dividends, financials, mid cap, technology, value | The fund maintains its disciplined value investment approach, seeking high-quality, profitable companies that generate cash, pay dividends, and repurchase shares. Mid- and small-cap value stocks continue to trade at attractive multiples despite strong relative performance. AI-driven demand for storage led to strong earnings and increases in revenue growth and margins for technology holdings. AI-related technology stocks may appear priced to perfection, but the fund continues to identify opportunities among mid-cap value stocks. The fund seeks companies that repurchase shares, viewing aggressive stock buybacks positively. Several holdings including General Motors, Garrett Motion, and EnerSys have been aggressively buying back stock. | AMKR EA ENS GTX |
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| 2024 Q3 | Sep 30, 2024 | Auxier Asset Management | 7.4% | 0.0% | AFL, BAC, BK, BRK.B, COP, CVX, GOOGL, KR, MA, MMC, MRK, MSFT, NVDA, PM, PSX, TRV, UNH, UNM, V, VLO | AI, Buybacks, energy, financials, nuclear, Onshoring, value | Manager discusses massive $200+ billion investment into AI by top four hyperscalers this year, questioning returns on investment. Sees better potential in smaller companies focused on inference and small language models that are more economical and not cloud-dependent. Next wave of AI PCs expected to be more powerful and affordable. | View | |
| 2024 Q3 | Sep 30, 2024 | The Sound Shore Fund | 6.7% | 21.1% | AVTR, BBWI, BKR, BRK-B, COF, CTRA, DIS, FDX, FIS, GM, Gold, KHC, KMI, KR, LEN, NXPI, PEG, PVH, PYPL, WFC | healthcare, Mining, nuclear, semiconductors, Utilities, value | Sound Shore focuses on attractively priced, out-of-favor stocks where managements are building value not yet recognized by Wall Street. The portfolio trades at a forward P/E of 11.5 times versus 21.5 times for the S&P 500, representing a meaningful discount despite strong balance sheets and free cash flow. | PEG AVTR Gold |
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| 2023 Q4 | Aug 1, 2024 | Oakmark Global Fund | 7.5% | 0.0% | A, AMZN, BAYRY, CHTR, COF, GOOGL, KKR, KR, ORCL, RHHBY, RYAAY | consumer, financials, global, healthcare, Pharmaceuticals, technology, value | The fund focuses on purchasing shares of high-quality businesses at discounts to intrinsic value, as demonstrated with Agilent trading at a discount to life science peers and Kroger trading at just 10x estimated next year's EPS despite strong competitive positioning. | RHHBY 005930 KR 0A53LN BAYRY COF |
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| 2024 Q2 | Jul 31, 2024 | Auxier Asset Management | 7.4% | 0.0% | AAPL, BAC, BK, GLW, GOOGL, KO, KR, LINC, MA, META, MNST, MRK, MSFT, NVDA, PEP, PM, RTX, TAP, UNH, V | AI, infrastructure, risk management, small caps, Speculation, technology, value | AI investment boom continues driving massive capital spending on tech infrastructure, with cloud service providers potentially investing $300 billion into AI hardware this year. The AI industry would need to generate $600 billion in annual revenue to justify current infrastructure spending. Companies like Alphabet and Microsoft are accelerating capital spending significantly. | View | |
| 2023 Q2 | Jul 26, 2023 | Stenham Asset Management | 4.7% | 15.1% | AI, AMAT, AMZN, CHGG, CNI, CP, DHR, DUOL, GOOGL, KR, MA, MSFT, NVDA, RACE, TMO, UMG.AS | AI, global, infrastructure, large cap, Quality, semiconductors, technology | AI is this year's favorite buzzword with companies mentioning it on earnings calls to boost stock prices. The fund takes a picks and shovels approach, investing in infrastructure companies like semiconductors and cloud providers that benefit regardless of AI winners and losers. Historical technological revolutions show most companies fail, making infrastructure plays the most sustainable investment strategy. | View | |
| 2025 Q1 | Mar 31, 2025 | Oakmark Global Fund | 4.4% | 4.4% | ABNB, AIG, BNR.DE, DEO, ETSY, GOOGL, KER.PA, KR, LYG, NVS, PHM, PUK, RI.PA, SYY | discount, Europe, financials, global, Quality, undervalued, value | The fund focuses on purchasing shares at discounts to intrinsic value estimates, with multiple examples of buying companies below fair value including Airbnb, Brenntag, Pernod Ricard, and Sysco. Management emphasizes finding above-average companies at below-average prices. | SYY RI.PA BNR.DE ABNB |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 15, 2026 | Fund Letters | Latitude Global Fund | Kroger | Grocery Stores | Food & Staples Retailing | Bull | New York Stock Exchange | Alternative Revenue, consumer staples, defensive, Food Retail, gas stations, grocery, Inflation Protection, margin expansion, market share, Private-label, Supermarket, Value | View Pitch |
| Jan 8, 2026 | Fund Letters | Justin Bergner | The Kroger Co. | Consumer Staples | Food Retail | Bull | New York Stock Exchange | analytics, Data, Loyalty, Margins, media, Private, retail, Value | View Pitch |
| Nov 30, 2025 | Seeking Alpha | Seeking Alpha | The Kroger Co. | Grocery Stores | Bull | Albertsons acquisition, Competition, cost-cutting, Free Cash Flow, grocery, growth initiatives, Kroger, leadership, Private-label, retail | 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 |
|---|---|---|---|---|---|---|---|---|
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $2.4M | 0.00% | 38,800 | -233,200 | -85.74% | 0.0053% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $9.6M | 0.01% | 152,900 | +65,700 | +75.34% | 0.0211% |
| Ray Dalio | Bridgewater Associates | $27.4B | $14.3M | 0.05% | 228,860 | +154,699 | +208.60% | 0.0315% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $675,034 | 0.00% | 10,804 | -2,496 | -18.77% | 0.0015% |
| Israel Englander | Millennium Management LLC | $233.2B | $9.9M | 0.00% | 158,400 | +85,800 | +118.18% | 0.0218% |
| Jeremy Grantham | GMO LLC | $39.1B | $11.4M | 0.03% | 181,960 | -61,667 | -25.31% | 0.0251% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $76.3M | 0.11% | 1,221,116 | +1,183,327 | +3131.41% | 0.1682% |
| Cliff Asness | AQR Capital Management | $190.6B | $224.5M | 0.12% | 3,593,860 | +1,186,757 | +49.30% | 0.4951% |
| Richard L. Chilton Jr. | Chilton Investment | $4.8B | $10.9M | 0.23% | 174,385 | -15,419 | -8.12% | 0.0240% |
| Warren Buffett | Berkshire Hathaway | $274.2B | $3.1B | 1.14% | 50,000,000 | +50,000,000 | +100.00% | 6.8876% |
| Rich Handler | Jefferies | $19.3B | $2.8M | 0.01% | 45,030 | -1,936 | -4.12% | 0.0062% |
| Richard Kayne & John Anderson | Kayne Anderson Rudnick Investment Management | $37.3B | $119,023 | 0.00% | 1,904 | +1 | +0.05% | 0.0003% |