LIND Archives

LIND

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 17, 2025	Ariel Small Cap Value Strategy	7.6%	-	CLB, DNB, FAF, LIND, OSW, REZI, WEX, ZBRA	AI, Oil Services, small cap, tariffs, technology, Trade Policy, Travel, value	OneSpaWorld Holdings showed strong demand for spa services and medi-spa treatments despite consumer sentiment concerns. Lindblad Expeditions delivered robust results with improved occupancy and net yield growth, expanding into European river cruises through a new partnership.	ZBRA WEX FAF CLB REZI LIND OSW ZBRA FAF CLB	View
2026 Q1	Apr 16, 2026	Ariel Small Cap Value Strategy	0.9%	0.9%	BCO, GNRC, LFUS, LIND, MAT, NCLH	Data centers, energy, Geopolitical, inflation, small caps, Travel, value		BCO MAT NCLH LFUS LIND GNRC	View
2024 Q1	Apr 15, 2024	Ariel Small Cap Value Strategy	10.1%	0.0%	CG, DNB, LAZ, LIND, MGPI, NVT, OSW, SPHR	AI, Electrical, Entertainment, small cap, Spirits, Travel, value	Investor enthusiasm around artificial intelligence drove broad-based market rally in Q1. AI-themed mega-cap stocks dominated performance, though their concentration and elevated valuations remain influential on overall market performance.	MGPI DNB OSW LIND NVT LAZ SPHR	View
2024 Q4	Dec 31, 2024	Ariel Small Cap Value Strategy	-0.8%	9.0%	AAPL, AMZN, BCO, GOOGL, LIND, META, MGPI, MHK, MSFT, NCLH, NVDA, OSW, TSLA	consumer, Cruises, fundamentals, small caps, Travel, value	The fund holds multiple travel-related companies including Norwegian Cruise Line, OneSpaWorld, and Lindblad Expeditions. These companies showed strong performance driven by robust consumer demand, healthy onboard spending, and solid pricing power in the cruise and adventure travel segments.	MHK BCO MGPI LIND OSW NCLH	View
2024 Q3	Sep 30, 2024	Ariel Small Cap Value Strategy	10.1%	0.0%	BRC, CLB, JLL, LAZ, LESL, LIND, MHK, SRCL, WEX	energy, Manufacturing, payments, real estate, small caps, Travel, value	The fund focuses on small cap value investing, with the Russell 2000 Value Index outperforming growth in Q3. The manager believes patient investors who own differentiated businesses with solid competitive positioning and robust balance sheets will reap superior returns over time.	WEX CLB LIND LESL MHK LAZ JLL	View
2023 Q3	Sep 30, 2023	Ariel Small Cap Value Strategy	10.1%	0.0%	AMG, BCO, LESL, LIND, MAT, MEI, NCLH, SPHR	consumer, Entertainment, Leisure, Logistics, small caps, Travel, value	Sphere Entertainment's Las Vegas venue opened on track with costs in-line, planning 365 days of events annually including concerts, sporting events, and The Sphere Experience. Mattel benefited from the successful Barbie movie release, expected to generate over $125 million in gross billings from film royalty payments.	AMG NCLH LESL LIND BCO AMAT SPHR	View
2025 Q1	Mar 31, 2025	Ariel Small Cap Value Strategy	-10.7%	-10.7%	AAPL, ADT, AMZN, BIO, FAF, GOOGL, LESL, LIND, META, MIDD, MSFT, NCLH, NVDA, TSLA	discount, Quality, Recession, small caps, value, volatility	The fund focuses on acquiring downtrodden shares of quality companies whose value should be realized over the long term. Holdings are trading at a significant discount to their private market values, creating opportunities for patient investors during market dislocations.	BIO LIND LESL NCLH FAF ADT MIDD	View
2023 Q4	Feb 20, 2024	Ariel Small Cap Value Strategy	10.1%	0.0%	CLB, JHG, JLL, LIND, MAT, NVST, OSW	consumer, energy, real estate, small caps, Travel, value	The fund holds luxury adventure travel company Lindblad Expeditions and cruise spa services provider OneSpaWorld, both benefiting from strong demand and pricing power in the travel recovery. Future travel reservations remain strong with companies increasing prices.	NVST AMAT CLB JLL OSW LIND	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	Ariel Small Cap Value Strategy	Lindblad Expeditions Holdings, Inc.	Consumer Discretionary	Hotels, Restaurants & Leisure	Bull	NASDAQ	Adventure Tourism, Expedition Cruising, Free Cash Flow, Luxury Travel, National Geographic Partnership, Pricing power, Technology Upgrade	View Pitch
Apr 28, 2026	Fund Letters	Ariel Small Cap Value Strategy	Lindblad Expeditions Holdings, Inc.	Consumer Discretionary	Hotels, Restaurants & Leisure	Bull	NASDAQ	Adventure Tourism, Booking Trends, Expedition Cruises, Luxury Travel, multiple expansion, niche market, Occupancy, recovery, risk/reward	View Pitch
Apr 23, 2026	Fund Letters	Ariel Small Cap Value Strategy	Lindblad Expeditions	Travel Services	Hotels, Restaurants & Leisure	Bull	NASDAQ	Adventure Travel, Brand Equity, Disney Partnership, Expedition Cruising, fleet-expansion, Land Experiences, Luxury Travel, multiple expansion	View Pitch
Apr 13, 2026	Fund Letters	Ariel Small Cap Value Strategy	Lindblad Expeditions Holdings Inc.	Consumer Discretionary	Hotels, Restaurants & Leisure	Bull	NASDAQ	Adventure Travel, brand partnerships, Consumer Discretionary, Expedition Cruising, Experiential Travel, fleet-expansion, Luxury Travel	View Pitch
Apr 13, 2026	Fund Letters	Ariel Small Cap Value Strategy	Lindblad Expeditions Holdings, Inc.	Consumer Discretionary	Hotels, Restaurants & Leisure	Bull	NASDAQ	Adventure Travel, Disney Partnership, European River Cruises, Expedition Cruises, fleet-expansion, Luxury Travel, multiple expansion, National Geographic	View Pitch
Apr 13, 2026	Fund Letters	Ariel Small Cap Value Strategy	Lindblad Expeditions Holdings, Inc.	Consumer Discretionary	Hotels, Restaurants & Leisure	Bull	NASDAQ	Adventure Travel, Disney Partnership, Expedition Cruising, Land-Based Operations, Luxury Tourism, market share, National Geographic, Pricing Discipline	View Pitch
Apr 13, 2026	Fund Letters	Ariel Small Cap Value Strategy	Lindblad Expeditions Holdings, Inc.	Consumer Discretionary	Hotels, Restaurants & Leisure	Bull	NASDAQ	Bull, Disney Partnership, Expedition Cruising, fleet-expansion, leadership transition, Luxury Adventure Travel, multiple expansion, National Geographic	View Pitch
Apr 13, 2026	Fund Letters	Ariel Small Cap Value Strategy	Lindblad Expeditions Holdings Inc	Consumer Discretionary	Hotels, Restaurants & Leisure	Bull	NASDAQ	Adventure Travel, Disney Partnership, Expedition Cruising, fleet-expansion, Galapagos, Lodge Operations, Luxury Travel, National Geographic, Safari, Tourism Niche	View Pitch

BSD Shareholders of LIND

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.

LIND

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Letters With This Ticker

Pitches With This Ticker

BSD Shareholders of LIND

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