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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 7, 2025 | Meridian Hedged Equity Fund | 4.9% | - | ABNB, CVX, DHI, DHR, GEO, GFL, HUN, ICE, JPM, KVUE, MGM, MSFT, V, VST, YOU | energy, Hedged Equity, Options, Quality, risk management, technology, value | The fund benefits from AI-driven electricity demand through Vistra Corp, which is positioned to capitalize on surging power needs from AI data centers. Microsoft's AI monetization potential through OpenAI integration also contributed to performance. | HUN CVX KVUE MGM MSFT VST MGM MSFT VST |
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| 2025 Q2 | Aug 7, 2025 | AMG Yacktman Focused Fund | 7.3% | 8.7% | CNQ, FOXA, KVUE, MSFT, PEP, SCHW, UHAL | Governance, large cap, risk management, South Korea, technology, value | Yacktman approaches investing with an owner's mindset, evaluating underlying fundamentals and analyzing company performance across economic environments. They require the price paid to compensate for risks and seek to produce strong, risk-adjusted returns over a market cycle. Historically, environments following lofty valuations like today's market have been when Yacktman produces its most attractive returns. | PEP 005935 KS |
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| 2025 Q2 | Aug 7, 2025 | AMG Yacktman Fund | 5.8% | 7.3% | 012330.KS, 0992.HK, CNQ, CTSH, KT, KVUE, MSFT, PEP, PG, RLI, SCHW, SSNLF, UHAL | Buybacks, consumer, large cap, South Korea, technology, value | Yacktman approaches investing with an owner's mindset, evaluating underlying business fundamentals and requiring prices that compensate for risks. The fund focuses on risk-adjusted returns over market cycles, with historically strong performance following periods of lofty valuations like today's market. | View | |
| 2025 Q2 | Aug 27, 2025 | Cullen Value Fund | 7.0% | 8.5% | AAPL, AMAT, AMZN, AXP, AXTA, C, CI, COP, CVX, GOOGL, JPM, KVUE, MDT, META, MS, MSFT, NVDA, ORCL, TSLA | AI, financials, growth, tariffs, technology, value | Value stocks continue to trade at a meaningful discount relative to the broader market and Growth equities. The valuation gap between Growth and Value stocks has reached historically extreme levels, with Growth stocks trading at a 130% premium to Value stocks. This valuation gap, combined with the potential for a shift in sentiment and improving asset flows as relative growth rates converge, serves as a catalyst for improved relative performance. | KVUE AMAT ORCL |
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| 2025 Q2 | Jul 30, 2025 | Third Point Partners | 7.5% | - | CASY, COOP, DSV.CO, ENR.DE, FTV, INF.L, KVUE, LSEG.L, LYV, NVDA, PCG, RKT, RR.L, TSM, VST, X | AI, credit, energy, Europe, M&A, Mortgage, technology, Trade Policy | Continued consumer and enterprise adoption of AI as well as relentless commitment to AI capex drove further gains in the technology sector. AI represents a massive downward shift in the cost curve, similar to fracking's impact on energy. The manager believes AI might do for credit in 2025/26 what fracking did in 2015/16, creating opportunities in stressed/distressed technology credits. | INF.L CASY RKT INF LN CASY RKT |
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| 2025 Q2 | Jul 22, 2025 | American Century Equity Income Fund | -0.3% | - | AMT, BDX, BK, CRH, CSX, EPD, GOOGL, JNJ, JPM, KVUE, MCHP, MDT, NSC, PCAR, PEP, SATS, UL, UPS | Consumer Staples, Defensive, financials, healthcare, income, Quality, value | The portfolio seeks to invest in companies where the valuation does not reflect the quality and normal earning power of the company. This value-oriented approach has historically resulted in a less volatile portfolio versus the benchmark. | View | |
| 2025 Q2 | Jul 15, 2025 | Mayar Capital | 6.5% | 9.6% | 005930.KS, 7974.T, AHT.L, BH, BNR.DE, CAP.PA, CRDA.L, HLCL.L, JNJ, JSG.L, KVUE, MA, NESN.SW, NKE, NVO, SOLV, UL, UPS, V, VTY.L | antifragility, global, long-term, Quality, Resilience, value | The manager emphasizes building antifragile portfolios that improve with stress rather than merely surviving it. The fund focuses on businesses with sound economics, conservative balance sheets, and reasonable valuations that can endure disorder and adapt to change. Portfolio companies average 86 years in age, demonstrating proven resilience through multiple wars, recessions, and crises. | NESN SW |
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| 2024 Q2 | Jul 10, 2024 | Mountain Vista Wealth Management | - | - | 300750.SZ, 6920.T, 9988.HK, CLS, CRM, HAL, HIMS, ICE, ISRG, KGHM.WA, KRN.DE, KVUE, LRCX, PEP, TSM, UMI.BR, UNH, UPWK, VNA.DE, ZAL.DE | AI, Argentina, Energy Transition, global, healthcare, semiconductors, technology, value | AI infrastructure continues driving strong performance across semiconductor equipment manufacturers like Lam Research, Lasertec, and TSMC. Companies are benefiting from sustained AI demand with TSMC maintaining technological leadership and pricing power in the AI supply chain. Salesforce has reduced workforce due to AI reducing labor requirements, viewed positively by the manager. | View | |
| 2025 Q2 | Jun 30, 2025 | Mapfre US Forgotten Value Fund | -2.3% | -6.6% | BATRA, GOOGL, HHH, KVUE, LH, MKL, MODG, MSGS, NWSA, QSR, SSNC, TRIP, UBER, WRB | Communication Services, small caps, technology, undervalued, US, value | The fund focuses on companies undervalued by the market, particularly forgotten stocks that may be outside the focus of the investment community. These include companies with complex capital structures, those in temporarily out-of-favor sectors, or smaller capitalization companies followed by fewer analysts. | View | |
| 2025 Q2 | Jun 30, 2025 | Airlie Australian Share Fund | - | - | 300750.SZ, 6920.T, 9988.HK, CLS, CRM, HAL, HIMS, ICE, ISRG, KGHM.WA, KRN.DE, KVUE, LRCX, PEP, TSM, UMC.PA, UNH, UPWK, VNA.DE, ZAL.DE | AI, China, energy, Germany, healthcare, semiconductors, value | AI infrastructure continues driving strong performance across semiconductor equipment manufacturers and data center suppliers. Companies like Lam Research, TSMC, and Bloom Energy are benefiting from continued AI expansion, with Bloom Energy securing potentially its largest project for a 900 MW power plant to supply AI data centers. | View | |
| 2025 Q1 | Apr 5, 2025 | 13D Activist Fund | -10.2% | -10.2% | AAPL, AVGO, BLCO, CL, CMG, CNI, DKS, FTRE, HR, JNJ, KVUE, MIDD, MSFT, OR.PA, PG, QRVO, SN, SWKS, WEN, YETI | activism, consumer, M&A, semiconductors, small cap, value, volatility | The fund focuses exclusively on activist investing situations, holding positions for the full activist cycle until catalysts are no longer compelling. Activist investors are keeping their heads down and focusing on portfolios despite market volatility, with 2025 already outpacing 2024 with 45 new campaigns versus 36 last year. | View | |
| 2026 Q1 | Apr 29, 2026 | American Century Equity Income Fund | 3.5% | 3.5% | BKR, EPD, GOOGL, HON, KVUE, MDT, MKC, OC, UL, WFC | Consumer Staples, energy, financials, healthcare, income, Quality, value | View | ||
| 2024 Q1 | Apr 20, 2024 | ClearBridge Investments Dividend Strategy | 0.0% | 0.0% | AMT, AMZN, AVGO, CMCSA, DEO, DIS, DTE, GOOGL, HLN.L, KO, KVUE, MA, META, MSFT, NESN.SW, NVDA, ORCL, SAP, TMUS, V | AI, Consumer Staples, diversification, dividends, large cap, technology, Utilities, value | The fund maintains a dividend-focused strategy, adding positions in companies with attractive upfront yields and solid free cash flow generation. They initiated a position in Meta after the company announced its inaugural dividend and expect steady dividend compounding across their holdings. | 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 | Mayar Capital | 7.7% | 9.6% | 005930.KS, AHT.L, BFAM, BLND.L, BNR.DE, CAP.PA, CFR.SW, EA, GOOGL, JNJ, KVUE, LH, MMM, NTDOY, PYPL, SAP.DE, UL, UPS, VTY.L, VWS.CO | global, Quality, REITs, technology, value | The fund emphasizes buying great businesses at reasonable prices with a margin of safety. The manager discusses how conventional wisdom about higher risk equaling higher returns is often wrong, and advocates for conservative approaches that prioritize steady growth with risk mitigation over chasing outrageous returns. | BLND.L |
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| 2025 Q1 | Mar 31, 2025 | Cullen Value Fund | 1.4% | 1.4% | AXP, AXTA, BAC, CI, GD, JNJ, KVUE, MDLZ, MDT, MS, PKG, RTX, SIE.DE, SRE, TFC | AI, defense, dividends, healthcare, industrials, tariffs, value | Value stocks significantly outperformed Growth in Q1 with Russell 1000 Value up 2.1% versus Russell 1000 Growth down 10.0%. Growth stocks trade at a 94% premium to Value stocks, well above the 57% historical average. The rotation into Value stocks is in early stages of a potentially longer-term resurgence presenting compelling investment opportunities. | View | |
| 2025 Q1 | Mar 31, 2025 | American Century Equity Income Fund | 4.7% | 4.7% | BDX, BRK-A, C, CSCO, EPD, JNJ, JPM, KVUE, MCHP, MDT, MLM, NSC, PM, TROW, WFC, XOM | dividends, financials, healthcare, industrials, Quality, value, volatility | The fund continues to focus on higher-quality companies with stable revenues and profits, low indebtedness, stable cash flows and predictable business models that are less sensitive to economic conditions. This approach is driven by continuing inflation and uncertain macroeconomic and policy conditions. | View | |
| 2025 Q1 | Mar 31, 2025 | Emerald Wealth Partners – Focused Equity Strategy | -3.6% | -3.6% | 300750.SZ, 6920.T, BABA, CLS, CRM, HAL, HIMS, ICE, ISRG, KGHM.WA, KRN.DE, KVUE, LRCX, PEP, TSM, UMC.PA, UNH, UPWK, VNA.DE, ZAL.DE | AI, Argentina, Germany, global, semiconductors, value | AI infrastructure driving strong performance in wafer equipment manufacturers and data center suppliers. Companies like Lam Research, TSMC, and Bloom Energy benefiting from AI expansion. Salesforce reducing workforce due to AI efficiency gains. | View | |
| 2023 Q1 | Mar 31, 2023 | PM Capital Global Companies Fund | 4.6% | 4.6% | 300750.SZ, 6920.T, 981.HK, 9988.HK, CLS, CRM, HAL, HIMS, ICE, ISRG, KRN.DE, KVUE, LRCX, PEP, TSM, UNH, UPWK, VNA.DE, ZAL.DE | AI, Argentina, Banking, Germany, Reform, semiconductors, technology | AI infrastructure continues to drive strong performance across semiconductor equipment manufacturers and data center companies. Lam Research, Lasertec, and TSMC all benefited from AI-driven demand, with TSMC maintaining technological leadership and pricing power in the AI supply chain. The fund added positions in companies benefiting from AI expansion including Bloom Energy for data center power supply and Celestica for AI infrastructure development. | View | |
| 2025 Q4 | Feb 20, 2026 | VH Standard Asset Management | 1.3% | 14.8% | EA, EXAS, JAMF, KVUE, NSC, QRVO, SGOV, WBD | AI, Capital markets, Deregulation, M&A, Merger Arbitrage, Onshoring, Regulatory, Spreads | The merger arbitrage landscape has shifted meaningfully with spreads becoming less efficient due to capital leaving the space during tough regulatory years. The pendulum for regulators has swung toward being more favorable for M&A activity, creating opportunities for those positioned to take advantage. Tariffs and the current U.S. administration's goals are creating a monumental shift in the global economy. Onshoring and supply chain re-optimization will create new winners and losers as companies adapt to changing trade dynamics. AI is viewed as the biggest catalyst to be let loose into economies, creating a sea of change. This technological shift is expected to drive significant transformation across industries and create new investment opportunities. | View | |
| 2025 Q4 | Feb 18, 2026 | The Gabelli ABC Fund | 0.5% | 6.1% | CFLT, EXAS, FOX, FRGE, GTLS, HOLX, KKR, KMB, KVUE, LEN, NEM, NFG, NFLX, PAAS, PSKY, TGNA, TXNM, WBD | arbitrage, healthcare, industrials, M&A, private equity, technology | Multiple biotech and pharmaceutical M&A deals closed during the quarter, including Akero Therapeutics acquired by Novo Nordisk for $54.00 per share plus CVR, Metsera acquired by Pfizer after outbidding Novo Nordisk, and Tourmaine Bio acquired by Novartis for $48.00 per share. M&A volume activity reached $4.6 trillion in 2025, representing a 49% increase from the previous year and the highest since 2021. Technology, industrials, and financials were the top sectors for M&A activity, accounting for over $2 trillion in deal activity. | ALE HOLX EXAS GTCH |
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| 2025 Q4 | Feb 17, 2026 | Cullen Enhanced Equity Income Fund | 2.0% | 7.5% | AAPL, AMZN, GOOGL, JPM, KVUE, META, MSFT, NSC, NVDA, QCOM, TSLA, UNH, UNP | AI, dividends, growth, healthcare, income, rates, technology, value | The manager discusses the AI boom extensively, noting that hyperscalers continue to escalate capital spending on AI data centers while several Industrial and Utilities companies benefit from the buildout. However, they express concern that markets have already discounted much future AI-driven growth, with $9-$12 trillion of post-2022 market cap gains unexplained by fundamentals. The aggressive AI spending has materially slowed free cash flow and earnings growth for hyperscalers. The strategy focuses heavily on dividend-paying stocks, with a large dividend contribution of 4.1% and total yield of 7.2% for the year. The manager notes that defensive and dividend-oriented sectors are now at multi-decade lows in index weight and investor interest, trading at unusually attractive relative valuations. They believe equity income is becoming increasingly competitive as money market yields decline from their peaks. The manager emphasizes that Value stocks are positioned for outperformance, noting the Growth-to-Value valuation spread is near historical extremes at nearly 100% premium versus the long-term average of 57%. They highlight extreme underweight positioning, elevated valuations in growth, and historically favorable mean-reversion dynamics as creating a compelling setup for value stocks to deliver strong risk-adjusted returns. The Federal Reserve cut rates twice in Q4 to the current range of 3.50% to 3.75%, following a September cut. The manager views the Fed's easing cycle positively for high-dividend stocks, as declining short-term rates should make equity dividend yields increasingly attractive compared to money market funds. They note nearly $8 trillion is currently invested in money market funds with yields falling from peaks above 5% to 3.7%. The manager expresses concern about elevated risk appetite and speculative excess, noting that leveraged ETFs now represent roughly 1% of total ETF assets but account for over 12% of trading volume. They highlight that retail investors now account for roughly 25% of total trading volume, more than twice the long-term average, which has historically served as a signpost of market excess and potential tops. | NSC JPM KVUE UNP UNH QCOM |
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| 2025 Q3 | Nov 8, 2025 | Cullen Value Fund | 6.8% | 15.9% | AMAT, BAC, BDX, BMY, BWA, C, CI, CMCSA, DIS, JPM, KVUE, LOW, MBGYY, MDLZ, MS, MU, NEE, ORCL, SRE, UNH | AI, dividends, financials, growth, healthcare, technology, value | AI investments have propelled markets higher with euphoria around AI driving the Magnificent 7 to record valuations. Trillions of dollars are being invested into agentic AI that will eventually need to be monetized. Capital expenditures among top hyperscalers have surged as they race to establish leadership in generative AI, creating a self-perpetuating cycle of investment. | UNH SW BDX |
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| 2025 Q3 | Oct 31, 2025 | Third Point Partners | 3.2% | - | 000660.KS, 005930.KS, 402340.KS, 6361.T, AMAT, CRH, DSV.CO, FIX, FLTR.L, GOOGL, KVUE, LSEG.L, MIK, MSFT, MU, NVDA, PCG, PRMB, TSLA, TSM | AI, Asia, credit, distressed, Event-Driven, Memory, semiconductors, technology | AI compute demand has accelerated beyond efficiency gains, driven by reasoning-based models and post-training techniques that are orders of magnitude more compute-intensive. OpenAI's recent deals to grow compute capacity by 20x over five years highlight the compute-constrained environment. Third Point maintains investments in TSMC and NVIDIA as integral pieces of this buildout while watching for potential corrections. | CRH LN NVDA TSM 6361 JP 000660 KS CRH LN NVDA TSM 6361 JP 000660 KS |
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| 2025 Q3 | Oct 31, 2025 | Fairtree Wild Fig Multi Strategy Hedge Fund | 1.4% | - | 300750.SZ, 6920.T, 9988.HK, CLS, CRM, HAL, HIMS, ICE, ISRG, KGHM.WA, KRN.DE, KVUE, LRCX, PEP, TSM, UMI.BR, UNH, UPWK, VNA.DE, ZAL.DE | AI, energy, global, Reform, semiconductors, technology, value | AI infrastructure companies like Lam Research, TSMC, and Palantir benefited from continued strong expansion. Bloom Energy supports data center expansion with reliable power supply for AI infrastructure. Salesforce reduced workforce as artificial intelligence reduces labor requirements. | View | |
| 2025 Q3 | Oct 27, 2025 | 13D Activist Fund | 8.9% | 2.7% | ABG, ALV, APD, BILL, EXEL, KVUE, MIDD, MRCY, PENN, PFGC, PSO.L, QRVO, RIOT, SWX, TRIP, TWLO, VSAT, VSTS, WK, YETI | activism, M&A, SMID Cap, technology, value | Activist activity and success have been flourishing with the Universal Proxy Card increasing campaign success rates from 73% to 88%. The fund expects significant alpha generation from activists like Jeff Smith, Scott Ferguson and Dan Loeb as markets rotate into value investing. | WK VSAT TRIP PFGC |
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| 2025 Q3 | Oct 24, 2025 | Meridian Hedged Equity Fund | 1.6% | - | ABNB, CHTR, DHI, DHR, GEO, GFL, ICE, JNJ, KVUE, LBRDA, LNG, LYV, META, MGM, MTCH, ORCL, YOU | AI, healthcare, Hedged Equity, inflation, Options, technology, value | The AI narrative dominated equity performance with solid results from Oracle and massive infrastructure commitments from OpenAI and Meta fueling momentum. Markets demonstrated comfort with extended monetization horizons, valuing AI's disruptive capacity above traditional financial metrics. Valuations across AI-related technology appear elevated by historical standards. | JNJ DHI ICE KVUE LBRDK JNJ DHI ICE KVUE LBRDK |
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| 2025 Q3 | Oct 19, 2025 | American Century Equity Income Fund | 5.3% | - | AMT, BDX, BK, CRH, CSX, EPD, GOOGL, JNJ, JPM, KVUE, MCHP, MDT, NSC, PCAR, PEP, SATS, UL, UPS | Consumer Staples, dividends, financials, healthcare, income, Quality, Utilities, value | The portfolio focuses on higher-quality stocks that may offer resilience amid continuing inflation and uncertain macroeconomic conditions. The team emphasizes companies with stable revenues and profits, low indebtedness, resilient cash flows and predictable business models that are less sensitive to economic conditions. | View | |
| 2025 Q3 | Oct 14, 2025 | Mayar Capital | -0.4% | 9.1% | 005930.KS, AHT.L, AOM.PA, BFAM, BNR.DE, CAP.PA, CRDA.L, GOOGL, JNJ, JSG.L, KER.PA, KVUE, NESN.SW, NVO, PYPL, SOLV, UL, UPS, VTY.L, VWS.CO | AI, contrarian, Discipline, global, Speculation, technology, value | The manager draws extensive parallels between the current AI boom and the TMT bubble, noting that technology companies will invest $7 trillion in AI capex over five years. He argues that AI companies trade at valuations assuming perpetual dominance, with minimal revenue and no clear path to profitability, creating a self-reinforcing cycle similar to the late-1990s telecom boom. | SOLV US |
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| 2024 Q3 | Oct 14, 2024 | Mayar Capital | 7.7% | 9.6% | 005930.KS, 7974.T, ALO.PA, BFAM, CFR.SW, EA, GOOGL, HLCL.L, HWDN.L, JNJ, KER.PA, KVUE, MMM, PYPL, SAP, SOLV, UL, UPS, V, VWS.CO | Esg, global, Manufacturing, Patience, Recovery, value | Visa's business model as a payment network intermediary creates powerful network effects and generates impressive shareholder returns. The ongoing shift towards cashless payments has driven payment volume growth from $4.4 trillion in 2008 to $15.4 trillion in 2023. The company maintains high returns on invested capital averaging 65% over two decades while reducing share count by a third since IPO. | View | |
| 2023 Q3 | Oct 13, 2023 | Mayar Capital | 7.7% | 9.6% | 005930.KS, BFAM, BN.PA, BNTG.DE, CAP.PA, DBX, EA, GOOGL, HLCL.L, KVUE, SAP.DE, UL, UPS, V | global, Quality, rates, risk management, technology, value | Manager emphasizes value investing approach, focusing on great businesses at reasonable prices with margin of safety. Discusses how value investing has been painful during recent tech bubble but believes patience will be rewarded as higher interest rates favor quality businesses over mediocre ones. | KVUE CAP.PA |
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| 2025 Q3 | Oct 10, 2025 | Oakmark Fund- International Small Cap | 3.2% | 8.9% | BLK, C, CHTR, CNC, GOOGL, KDP, KVUE, TRGP, UNP, WBD | energy, financials, healthcare, Railroads, technology, value | The fund continues to find attractive opportunities to invest in high-quality, undervalued businesses across various industries. They purchased Union Pacific at a meaningful discount to intrinsic value and Targa Resources at a discount to peers based on normalized earnings power. | UNP US TRGP US |
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| 2024 Q4 | Jan 7, 2025 | ClearBridge Investments Dividend Strategy | 0.0% | 0.0% | AAPL, AMZN, APO, AVGO, DEO, EQT, GOOGL, HLN.L, JPM, KVUE, MDLZ, MET, META, MSFT, NESN.SW, NVDA, ORCL, TSLA, UPS, WMB | diversification, dividends, Natural Gas, Quality, technology, value | The strategy focuses on high-quality dividend payers with three key attributes: downside protection, current income, and growth. Dividend growers help combat inflation and provide 40% of total return over the long term. The fund initiated positions in Alphabet and Meta when they announced regular dividend policies. | View | |
| 2023 Q4 | Jan 28, 2024 | Highwood Value Partners | - | - | 300750.SZ, 6920.T, 9988.HK, CLS, CRM, HAL, HIMS, ICE, ISRG, KGHM.WA, KRN.DE, KVUE, LRCX, PEP, TSM, UMI.BR, UNH, UPWK, VNA.DE, ZAL.DE | AI, energy, global, healthcare, semiconductors, technology, value | AI infrastructure continues driving strong performance across semiconductor equipment manufacturers like Lam Research, Lasertec, and TSMC. Companies are benefiting from sustained AI demand with TSMC maintaining technological leadership and pricing power in the AI supply chain, while data center infrastructure providers like Celestica are gaining from cloud and AI infrastructure growth. | View | |
| 2025 Q4 | Jan 18, 2026 | Mayar Capital | 4.5% | 14.1% | 005930.KS, 7476.T, 7974.T, BFAM, BKNG, BNNTF, CAP.PA, CFR.SW, CRDA.L, GOOGL, JNJ, KVUE, NESN.SW, NKE, OR.PA, PYPL, SOLV, TW.L, UL, UPS, V, VWS.CO | defense, fundamentals, global, Quality, Speculation, value | The fund maintains its disciplined value investing approach, focusing on boring companies with durable competitive advantages trading at reasonable prices. The manager emphasizes that fundamentals eventually win out despite current market speculation. The manager identifies significant red flags in circular financing fueling the AI boom, comparing it to vendor financing of the late 90s. Companies like Oracle, OpenAI, Nvidia and CoreWeave participate in arrangements that effectively fund their own customers' purchases. Strategy Inc. (formerly MicroStrategy) serves as a cautionary tale of speculative excess. The stock fell 60% as its premium to Bitcoin holdings evaporated, forcing the company to sell equity to cover preferred dividends rather than buy more Bitcoin. | NKE TW LN BKNG |
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| 2024 Q3 | Sep 30, 2024 | American Century Equity Income Fund | 9.6% | 0.0% | BDX, EPD, INTC, JNJ, JPM, KVUE, MCHP, MDT, NSC, ON, PG, RB.L, TROW, UNH, VZ, XOM | Consumer Staples, dividends, financials, healthcare, income, Quality, Utilities, value | Value stocks outperformed growth stocks across the market-capitalization spectrum during the quarter. The portfolio seeks to invest in companies where the valuation does not reflect the quality and normal earning power of the company. | View | |
| 2024 Q2 | Jul 29, 2024 | Mayar Capital | 7.7% | 9.6% | 005930.KS, 7974.T, ALO.PA, BFAM, BLND.L, BNR.DE, CAP.PA, CFR.SW, EA, GOOGL, HLCL.L, JNJ, KER.PA, KVUE, MMM, NESN.SW, PYPL, UL, UPS, VTY.L, VWS.CO, WIX.L | Compounding, Defensive, global, long-term, Quality, value | The fund follows a disciplined value investing strategy, focusing on buying great businesses at reasonable prices with a margin of safety. The manager emphasizes patience and long-term compounding over quick gains, maintaining a tortoise-like approach to investing. | VWS.CO |
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| 2024 Q2 | Jun 30, 2024 | American Century Equity Income Fund | 9.6% | 0.0% | ADI, BDX, CB, EPD, INTC, JNJ, JPM, KMB, KVUE, MCHP, MDT, NSC, RHHBY, TXN, UL, VZ, XOM | Consumer Staples, dividends, financials, Quality, technology, Utilities, value | The portfolio focuses on higher-quality stocks with stable revenues and profits, low indebtedness, stable cash flows and predictable business models that are less sensitive to economic conditions. This approach is viewed as offering resilience against uncertain economic environments and lagging effects of elevated interest rates. | View | |
| 2025 Q1 | Mar 31, 2025 | Mayar Capital | 2.9% | 2.9% | 005930.KS, 7974.T, AHT.L, ALO.PA, BH, BLND.L, BNR.DE, CAP.PA, CFR.PA, EA, FOUR.L, GOOGL, HLCL.L, JNJ, JSG.L, KERY.PA, KVUE, LH, MA, NESN.SW, NKE, NVO, OR.PA, PYPL, SAP, SOLV, SOM.L, UL, UPS, V, VTY.L, VWS.CO | AI, Europe, global, Pharmaceuticals, Quality, risk management, technology, value | Capgemini reported 5% of Q4 bookings were generative AI-related, up from 2% earlier in the year. Management sees AI as transformative technology with potential to revolutionize every industry globally. The company is well-positioned to serve as industry's key technology partner in realizing AI benefits for businesses worldwide. | NKE NVO CAP.PA |
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| 2023 Q3 | Mar 10, 2023 | Ariel Focus Fund | 10.6% | 0.0% | APA, BK, BWA, CVX, GNRC, GS, JNJ, KVUE, LAZ, LESL, MHK, PHIN, SPHR, WU, ZBH | Buybacks, capital returns, discount, energy, large cap, value | The fund holds multiple energy positions including APA Corporation and Chevron Corporation. APA continues delivering strong earnings with solid production volumes and expects to hit oil production guidance. Chevron is viewed as competitively advantaged with sustainable growth pathway and expects double-digit return of capital employed by 2027. | PHIN KVUE CVX GNRC MHK LESL ^GSPC WU ADNT|APA|BPOP|FLR|KOS|OLN |
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| 2023 Q4 | Jan 31, 2024 | Ariel Focus Fund | 10.6% | 0.0% | APA, BWA, GS, KVUE, MHK, WU, ZIMV | concentrated, discount, fundamentals, large cap, Patient, value | The fund focuses on identifying stocks trading at discounts to private market value estimates, with holdings like MHK at -57% discount and APA trading below intrinsic value. The manager emphasizes patient value investing spanning 41 years across five market cycles. | WU BWA ADNT|APA|BPOP|FLR|KOS|OLN MHK ^GSPC ZIMV |
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| 2023 Q4 | Jan 2, 2024 | VGI Partners | 0.0% | 0.0% | AMZN, CME, DIS, GEHC, KVUE, META, RHM.DE, SHEL, SPOT, TECK | AI, Concentration, defense, global, Long/Short, Quality, Streaming, technology | Amazon's investments in artificial intelligence including chip company Annapurna and Anthropic provide material foothold in AI technology stack. AWS exposure to AI infrastructure requirements and continued LLM investment will contribute strongly to growth. Meta's AI investments in cloud infrastructure and recommendation engines have been important in improving engagement and growing user base. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Mayar Capital | Kenvue Inc | Household & Personal Products | Personal Products | Bull | NYSE | beauty products, brand portfolio, Consumer-health, Fmcg, OTC Medications, personal care, spin-off, Value | View Pitch |
| Apr 28, 2026 | Fund Letters | Ariel Focus Fund | Kenvue, Inc. | Health Care | Personal Products | Bull | NYSE | Aging Population, cash flow, Consumer-health, defensive, Demographics, Equity, healthcare, innovation, personal care | View Pitch |
| Apr 13, 2026 | Fund Letters | Meridian Hedged Equity Fund | Kenvue, Inc. | Consumer Staples | Personal Products | Bull | NYSE | brand portfolio, Consumer-health, cost optimization, Import Tariffs, J&J Spinoff, Listerine, Margin Improvement, Neutrogena, Tylenol | View Pitch |
| Apr 13, 2026 | Fund Letters | Oakmark Fund | Kenvue Inc. | Consumer Staples | Personal Products | Bull | NYSE | brand portfolio, Consumer-health, efficiency, market share, Marketing, product development, spinoff, turnaround, Value | View Pitch |
| Feb 21, 2026 | Fund Letters | James Cullen | Kenvue Inc. | Consumer Staples | Personal Care Products | Bear | New York Stock Exchange | China Destocking, Competition, Consumer-health, marketshare, valuation | View Pitch |
| Jan 8, 2026 | Value Investors Club | kerrcap | Kenvue Inc. | Consumer Discretionary | Specialty Retail | Bull | New York Stock Exchange | Branding, Consumer products, e-commerce, Marketing, merchandising, retail | View Pitch |
| Dec 5, 2025 | Fund Letters | James Cullen | Kenvue Inc. | Consumer Staples | Personal Care Products | Bull | NYSE | brands, consumer, Currency, inflation, profitability, resilience | View Pitch |
| Nov 29, 2025 | Fund Letters | Clayton Freeman | Kenvue Inc. | Consumer Staples | Personal Care Products | Bull | NYSE | Brand investment, cash flow, dividend, litigation, Margins, restructuring | View Pitch |
| Nov 29, 2025 | Fund Letters | Clayton Freeman | Kenvue Inc. | Consumer Staples | Personal Care Products | Bull | NYSE | Brand investment, cash flow, dividend, litigation, Margins, restructuring | View Pitch |
| Aug 8, 2025 | Seeking Alpha | Brett Ashcroft Green | Kenvue Inc. | Consumer Staples | Household & Personal Products | Bear | NYSE | — | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Alan Galecki | Kenvue | Consumer Staples | Household & Personal Products | Bear | NYSE | — | 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 |
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| No investor data available. | ||||||||