MATX

MATX

MATX

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q3	Sep 30, 2025	Tactile Fund	3.7%	15.3%	ADN.TO, CNRD, CWK.L, FSF.NZ, GMAB, HII, ICG.L, LAMR, MATX	Dairy, inflation, infrastructure, Shipbuilding, small caps, Tourism, value	Conrad Industries is benefiting from an upturn in the domestic shipbuilding industry with orders from government and industrial customers. The company has yet to receive meaningful new orders from energy customers, but if they return, recovery could accelerate. Conrad also received an order from a venture capital-backed producer of autonomous marine drones.		View
2025 Q2	Jul 20, 2025	The London Company Small Cap	2.4%	-4.9%	ACIW, AWI, CABO, GTES, IPAR, MATX, NEU, SGI, WTM	Quality, small cap, tariffs, Trade Policy, value, volatility	The manager emphasizes their focus on high-Quality, low-Volatility orientation as a defensive strategy. They believe their reliance on high Quality factors has proven to be a strategy that can lose battles along the way but tends to win the war over time, positioning them well for an environment of elevated policy risks and fragile global growth.	IPAR MATX WTM ACIW GTES AWI NEU ACIW AWI NEU GTES	View
2024 Q1	May 13, 2024	The London Company Small Cap	7.0%	8.9%	AWI, CABO, CERT, DOOR, MATX, MBUU, QLYS, TPX, VNT	AI, industrials, Quality, rates, small caps, technology, value	The portfolio's Quality orientation continued to stand out in the small cap space where earnings weakness was more pervasive. Strong balance sheets of portfolio companies, many with net cash, remained a significant advantage in the high rate environment. The manager seeks profitable, financially stable companies that consistently generate free cash flow and high returns on unleveraged operating capital.	CERT QLYS CABO AWI VNT	View
2024 Q1	Apr 15, 2024	Meridian Growth Fund	6.8%	0.0%	ACVA, ALIT, CARG, EEFT, IRDM, MATX, QDEL, RBA, SHC, ST, STE, TRMB, ZD	growth, Quality, Recurring Revenue, risk management, small caps, technology	QuidelOrtho Corporation is a global leader in the diagnostics industry following the merger of Quidel and Ortho Clinical Diagnostics. The company faced challenges from a dramatic slowdown in Covid-19 testing volumes but maintains steady performance in its core clinical diagnostic division with EBITDA margins north of 20%.	RBA ACVA TRMB SHC IRDM QDEL	View
2024 Q1	Apr 15, 2024	Meridian Small Cap Growth Fund	6.2%	0.0%	ACVA, ALIT, BYRN, CARG, CNCL, FORR, LZ, MATX, MIR, MMSI, NRGN, QDEL, RBA, SG, STNE, TPB	Automation, Diagnostics, growth, healthcare, small cap, technology	The fund holds multiple healthcare positions including QuidelOrtho Corporation in diagnostics, Consensus Cloud Solutions serving healthcare data security, and Neurogene in gene therapy. Healthcare IT staffing issues are creating macro pressure on enterprise-level adoptions.	SG NRGN BYRN FORR QDEL CNCL	View
2026 Q1	Apr 13, 2026	Distillate Capital Small/Mid Cap Quality & Value	5.9%	5.9%	APA, BTU, CF, CHRD, CSL, DINO, EPAM, FBIN, HRB, ICLR, MATX, OVV, PTEN, SNX, TNET, UAN, VYX	energy, fundamentals, Quality, rebalancing, small caps, value			View
2026 Q1	Apr 13, 2026	The London Company Small Cap	-2.0%	-2.0%	CCC, CERT, GOLF, HAE, HWKN, MATX, MC, NGVT, RVLV, UNF	energy, Geopolitical, healthcare, industrials, Quality, small cap, value, water		HWKN	View
2025 Q4	Feb 19, 2026	Tactile Fund	4.5%	20.5%	AER, CWK.L, FCG.NZ, GOOGL, GRUMAB.MX, HII, JUNGN.SW, LAMR, MATX, MCEM, META	Agriculture, AI, global, inflation, infrastructure, Luxury, Physical Assets, value	Holdings like Ricegrowers Ltd and Fonterra Shareholders Fund powered higher as rice and milk prices remained healthy and demand grew. Fonterra struck an agreement to sell its consumer-facing businesses to dairy powerhouse Lactalis. As the world's middle class grows, consumers will demand both more and better-quality foods and ingredients. Swiss Alpine Railways investors took notice of strong earnings from Jungfraubahn AG and BVZ Holding AG, each of which owns a collection of impossible to duplicate transportation and tourism infrastructure in the Alps. American shipbuilders benefit from higher spending on vessels and naval systems for national security reasons. There is a growing realization that artificial intelligence can reproduce the functions of a meaningful portion of the software offered by today's dominant software companies at a small fraction of the cost. Software franchises may eventually turn out to be just another commodity. AI capabilities will only improve. Tactile Fund owns shares in multiple European companies with extensive real estate holdings in exclusive locations. These are owned for their trophy assets that will grow in value with time, though this could mean waiting for their share prices to move.	GRUMAB MM BWEL GMEXICOB MM HII FSF NZ	View
2023 Q4	Dec 31, 2023	Meridian Growth Fund	6.8%	0.0%	ALIT, CARG, CHDN, EEFT, FOXF, GOOS, HSIC, MATX, RBA, ST, STE, TRMB, ZD	growth, industrials, Quality, small caps, technology	The Fund's investment approach focuses on high-quality companies with recurring revenue and sustainable competitive advantages. The strategy emphasizes building an enduring portfolio that can mitigate capital losses during turbulent bear market environments.	MATX EEFT CARG HSIC FOXF GOOS.TO	View
2023 Q4	Dec 31, 2023	Meridian Small Cap Growth Fund	6.2%	0.0%	ALIT, CARG, CCCC, CCSI, EVRI, HDSN, MATX, MIR, QDEL, RBA, SKIN, SONX, TPB	Biotechnology, gaming, growth, healthcare, small cap, technology, value	The fund holds C4 Therapeutics, a biotechnology firm specializing in protein degradation therapies for cancer treatment. The company has three treatments in early-stage clinical trials targeting multiple cancers and announced a formal agreement with Merck for co-development. Positive clinical readout on a leading compound provided encouraging signals for therapeutic efficacy.	CCCC CARG MRAD	View
2024 Q4	Jan 7, 2025	The London Company Small Cap	2.3%	11.4%	ACIW, AUB, AWI, EPRT, LSTR, MATX, MC, RVLV, TPX, WTM	concentrated, downside protection, Quality, small caps, value	The fund focuses on high-quality companies with sustainably high and improving returns on capital and strong balance sheets. Portfolio companies demonstrate superior financial metrics with 13.5% pre-tax ROC versus 6.2% for the Russell 2000 and lower leverage at 1.5x net debt/EBITDA versus 3.8x for the benchmark.		View
2023 Q3	Sep 30, 2023	Meridian Small Cap Growth Fund	6.2%	0.0%	ALIT, ALKT, CCCS, HCCI, HDSN, MATX, MIR, QDEL, RBA, TPB	growth, healthcare, industrials, small caps, technology			View
2024 Q2	Jul 22, 2024	The London Company Small Cap	7.0%	8.9%	ACIW, AUB, CERT, CNNE, DOOR, DV, ENOV, EPRT, GTES, HAE, MATX, MBUU, MRTN, MUSA, NEU, PLUS, TPX	downside protection, free cash flow, Quality, Russell 2000, small caps, value	The portfolio focuses on small-cap equities with emphasis on quality, low volatility, and downside protection. The Russell 2000 Small Cap Index declined 3.3% during the quarter while the portfolio fell 5.8%. The manager notes that small caps faced headwinds as investors favored large cap, growth and momentum factors.	DV GTES	View
2023 Q2	Jun 30, 2024	Miller Howard Investments Income-Equity Strategies	3.6%	0.0%	AES, AGO, AGRO, AM, BCC, BCE, BK, CAG, CAH, CHRD, CNP, CSCO, D, DCP, EME, EMN, ENB, ENLC, EPD, ETD, EVR, EXR, FFBC, FULT, GS, HCA, JHG, JNJ, JPM, KEY, KFY, KNF, LBRT, LNG, LYB, MATX, MDU, MED, MEI, MPC, MSFT, MSM, NGG, NSP, NVDA, OMAB, OMF, POR, PPL, PSX, QCRH, RRC, RY, SBAC, SLP, SO, SUN, UGI, UHT, VLO, VST, WINA, WMB	dividends, energy, income, technology, Utilities, value, volatility	The letter extensively analyzes dividend-paying tech stocks versus non-payers, finding high-dividend tech stocks outperformed when excluding the internet bubble period. Miller/Howard focuses on companies with strong dividend coverage and growth potential, with their Income-Equity strategies yielding 3.5-3.7% and positioned for dividend growth throughout market cycles.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	Meridian Growth Fund	Matson, Inc.	Industrials	Marine Transportation	Bull	NYSE	capital allocation, Fleet utilization, Free Cash Flow, Ocean Transportation, Pacific Shipping, Premium Service, Terminal Assets	View Pitch
Apr 13, 2026	Fund Letters	The London Company Small Cap	Matson, Inc.	Industrials	Marine	Bull	NYSE	China Trade, Inventory Cycle, Jones Act, Marine Transportation, Regulatory Protection, Shipping, tariffs	View Pitch
Aug 8, 2025	Seeking Alpha	RB Equity	Matson, Inc.	Industrials	Marine Shipping	Bull	NYSE	—	View Pitch

BSD Shareholders of MATX

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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