MCD

MCD

MCD

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2023 Q3	Sep 30, 2023	Carillon Eagle Growth & Income Fund	-	-	ABBV, ADP, AVGO, AZN, BLK, CVX, ETN, JPM, MCD, MRK, MSFT, NEE, RTX, TEL, UNH	AI, dividends, income, interest rates, large cap, Quality, technology	The fund remains committed to investing in companies that pay and increase their dividends on a consistent basis. Management is pleased with the dividend growth that their companies have produced in 2023 and believes that income and income growth will serve clients well in the future.		View
2025 Q2	Aug 7, 2025	Greenhaven Road Capital	14.0%	1.0%	AAPL, ASTS, BUR, CLBT, GOOGL, KKR, LFCR, MCD, PAR, SOC, T, VZ	Litigation, oil, Pharmaceuticals, private equity, small caps, Space, Trade Policy, value	Burford Capital holds rights to multiple billion-dollar potential judgements including the YPF Argentina case worth over $16B. The fund is also short two companies facing significant litigation with potential treble damages far exceeding their market capitalizations.	ASTS PAR KKR CLBT LFCR BUR SOC	View
2023 Q2	Aug 1, 2023	Tall Oak Capital Advisors	-	-	ADBE, ASML, ATVI, BRK.A, BSX, CAT, CCO, CDNS, CNQ.TO, EQIX, FERG, IFC.TO, JNJ, LLY, LRCX, MA, MAR, MCD, MSFT, PEP, UNH	AI, diversification, Energy Transition, infrastructure, Quality, rates, value	Artificial Intelligence is garnering significant attention for its potential impact in the near term. The fund holds positions in leading semiconductor equipment companies like LAM Research and ASML Holdings, crucial players in supplying cutting-edge chips needed to drive the AI future. They believe the true core competence lies in the picks and shovels - the companies supplying the essential equipment and software.	CDNS ASML LRCX FERG AD8 AU\|ARB AU\|BAP AU\|CAT AU\|DHG AU\|PME AU\|PNI AU\|RDX AU\|TNE AU	View
2025 Q2	Jul 9, 2025	QV Investors	-	-	MCD, V, WBA	consumer, Dollar, Fragility, Risk Appetite, Trade Policy, Valuations, volatility	US market trading at 23x P/E, historically extreme levels that typically lead to lower returns with excess volatility. Market valuation remained far above typical bear market troughs even after April decline, with S&P 500 P/E only falling to 19x versus 15.7x in 2022 bear market.		View
2024 Q2	Jul 8, 2024	Bianco Research	-	-	MCD, NVDA, TSLA	AI, Fed policy, growth, healthcare, large cap, tariffs, technology, Valuations	AI represents considerably greater transformative innovation than previous technologies. The U.S. economy is expected to grow 2-2.5% in 2025, fueled heavily by investments in AI and security. Jobs data will be pressured by AI over time.		View
2025 Q2	Jul 4, 2025	Maple Tree Capital – Heartwood	26.3%	-	DNUT, GRND, HIMS, LMND, MCD, UPST	AI, Concentration, conviction, Fintech, growth, small caps, technology, volatility	Upstart's AI underwriting capabilities are central to the investment thesis, with the manager attending AI Day and emphasizing how AI models improve with more data collection. The company's AI has grown more accurate, comprehensive and adaptive, reducing business volatility through better credit assessment.	GRDR LMND UPST	View
2025 Q2	Jul 27, 2025	1290 SmartBeta Equity Fund	7.2%	7.8%	ABBV, AVGO, CVX, LLY, MCD, NFLX, NVDA, PEP, TT, XOM	Factor, global, Quality, SmartBeta, technology, Trade Policy, volatility	Trump's tariff policies dominated market movements throughout the quarter, with Liberation Day tariffs causing initial sell-offs followed by recovery as trade deals were negotiated with the UK and China. The fund navigated the initial Trump Tariff Turbulence well due to its low volatility exposure.		View
2025 Q2	Jul 27, 2025	Carillon Eagle Growth & Income Fund	-	-	ABBV, ABT, ACN, AVGO, CARR, DUK, ETN, GLW, GS, JPM, KO, LRCX, MCD, MDLZ, MSFT, ORCL, PG, PNC, RTX	AI, financials, growth, healthcare, income, large cap, semiconductors, technology	AI deployment continues to drive market performance with the Magnificent Seven up over 17%. The fund reduced AI exposure to neutral levels after taking profits, citing concerns about market concentration in this single catalyst. AI infrastructure spending by major tech companies continues to rise, supporting companies like Corning, Oracle, and Broadcom.	LRCX ABBV AVGO ORCL GLW ETN	View
2025 Q2	Jul 22, 2025	VT Holland Advisors Equity Fund	-	6.7%	AMZN, COST, MCD, NU, PDD, TSM, WISE.L, WMT	Banking, Compounding, disruption, Fintech, growth, LatAM, Quality	Nu Holdings represents a scale economy shared disruptor in global banking with 75% lower unit costs than peers, using these efficiencies to offer better customer rates rather than boost profits. The company has attracted 118 million customers through superior customer service and competitive offerings, demonstrating the power of the disruptor business model in financial services.	NU NU	View
2024 Q2	Jul 2, 2024	Infuse Partners	21.9%	-	AKAM, ALRM, LYFT, MCD, META, MSFT, NET, UBER	Concentration, growth, Israel, software, technology, value	The letter discusses how AI has created tailwinds for proxy networks as large language models need structured data from across the internet for training. This has driven demand for data scraping services that proxy networks enable.	ALRM	View
2024 Q2	Jul 17, 2024	ARK Invest	-	-	AMZN, CSCO, HD, KHC, MCD, MMM, NKE, SBUX, TMO, TXN, UPS, XOM	AI, Deflation, Fed policy, innovation, rates, Recession, technology	ARK expects AI and other disruptive technologies to drive broad-based deflation and pull the economy out of recession. The convergence among 14 technologies in ARK's five major platforms should start moving the needle on macro metrics significantly during the next five to ten years. ARK is searching for diversified exposure to the AI revolution, particularly software applications that are underrepresented in broad-based benchmarks.		View
2025 Q2	Jul 13, 2025	Richie Capital Group	-	-	MCD, MO, PG	Debt, Fed, Fiscal, inflation, rates, Trade Policy, Treasury	U.S. national debt is growing faster than the economy, with net interest becoming the third largest budget expense. The debt-to-GDP ratio will hit record highs not seen since WWII within three years, creating an unsustainable fiscal situation that threatens the financial system.		View
2024 Q2	Jun 30, 2024	Platinum International Brands Fund	-1.0%	-	AAPL, ADS.DE, AMZN, BEI.DE, COST, DG, GOOGL, HD, HEIN.AS, ITX.MC, LULU, MCD, META, NKE, NVDA, PUMA.DE, ULTA, V, WBA, ZTS	brands, consumer, E-Commerce, global, Luxury, Recovery, technology	Chinese consumer sentiment remains weak and the recovery lacklustre. There is increased anecdotal evidence this weakness is spreading to higher-end luxury brands and that discounting is picking up. European consumer activity is recovering, having been battered by the pickup in global inflation and the energy price shock following Russia's invasion of Ukraine.		View
2024 Q2	Jun 30, 2024	Apis Deep Value Fund	3.1%	-	4506.T, 8069.T, AAPL, AMZN, DPZ, MCD, META, MSFT, NFLX, OLED, WMT	Asia, defense, Electrification, Long/Short, small caps, technology, value	Goldman Sachs report highlights advantages of SMID-cap investing including thousands of stock-picking opportunities versus concentrated large-cap indices, significant inefficiencies with many companies having no analyst coverage, and less competitive space with only 3% of equity long/short funds focusing on SMID-cap. Current valuation extremes show profitable Russell 2000 companies trading at 15x with 35% growth versus S&P at 23x with 14% growth.	4506.T 8069.TW 1405.HK	View
2024 Q1	May 28, 2024	Bridgewater Associates	0.0%	0.0%	AMT, CAT, ETN, FUN, GE, GOOGL, HA, HCA, HON, KO, MAT, MCD, META, MONDEE, MSI, NEE, PFGC, PG, TXRH, WLDN	AI, Capex, Corporate Spending, earnings, Energy Transition, Labor Markets, profitability	The AI build-out is a key tailwind for capex spending during this cycle, with companies across tech and industrials investing in compute capacity and infrastructure. Tech companies like Meta and Alphabet are investing significantly in AI infrastructure, while industrials are responding to growing demand for data centers and electricity driven by AI innovation.		View
2023 Q1	May 2, 2023	Tall Oak Capital Advisors	-	-	ATVI, AZO, BRK-A, CCJ, CNQ, COST, DVN, FCX, IFC.TO, JNJ, LLY, MCD, MSFT, NEM, NVO, PEP, SLB, SU, TSM, UNH	Banking, energy, healthcare, inflation, Quality, technology, value	The fund's Energy transition thesis hurt returns to start the year. The manager maintains exposure to this theme despite underperformance in Q1.		View
2025 Q1	May 13, 2025	Sawgrass Asset Management – Large Cap Quality Growth	-	-	ADBE, AVGO, AZO, CBOE, LULU, MCD, META, NOW, NVDA, TJX	growth, large cap, Outperformance, Quality, volatility	The portfolio's focus on quality companies with low price volatility helped limit losses during the quarter's elevated volatility. Quality positioning benefited from investor flight towards quality companies amid market uncertainty.		View
2024 Q1	Apr 10, 2024	Purpose Investment Partners	3.0%	3.0%	AAPL, BAC, BN.TO, CVE.TO, DISH, MCD, RY.TO, TCNNF, TD.TO, TLN, VST	credit, energy, high yield, inflation, Power Generation, Preferred, Resilience	The U.S. economy demonstrates remarkable resilience with GDP growth forecasts increasing to 2.2% for 2024 from 1.3% at year start. First-time unemployment claims remain at 1960s levels despite 100 million more people, indicating strong labor market conditions. This resilience stems from excess liquidity from pandemic-era government spending and unique 30-year mortgage structures.	CVE.TO	View
2025 Q1	Mar 31, 2025	Carillon Eagle Growth & Income Fund	-	-	ABBV, ABT, AVGO, CVX, DUK, ETN, GS, HPE, IBM, JPM, MCD, MSFT, ORCL, PG, TMUS, UNH	AI, Defensive, dividends, financials, healthcare, Quality, technology	The quarter witnessed mounting concerns regarding the sustainability of rapid AI investment pace. Chinese DeepSeek's competitive AI model created concerns for Microsoft's OpenAI stake, while the Stargate Project represents a $500 billion AI infrastructure investment over four years.		View
2024 Q1	Mar 31, 2024	Carillon Eagle Growth & Income Fund	-	-	AMGN, AMT, AVGO, CVX, ETN, GS, HD, JPM, MCD, MDLZ, MRK, MSFT, PNC, UNH, UNP	AI, dividends, growth, income, inflation, large cap, technology	The market continued to show excitement around AI and the potential earnings growth that should come with it. AI appears to be a very real, once-in-a-generation tech trend that is likely only in the early innings. However, there has been overexcitement in some areas that may not be able to deliver on the promises management teams are making.		View
2023 Q4	Feb 20, 2024	Tall Oak Capital Advisors	-	-	AAPL, ABBV, AMD, AMGN, AMP, AMZN, ATD.TO, AVGO, BEI-UN.TO, BSX, CAT, CBRE, CCO.TO, CDNS, CNR.TO, COST, CSCO, DOL.TO, EA, EHC, EMN, EOG, EQIX, FERG, FTNT, GOOGL, LLY, LRCX, MA, MCD, META, MSFT, NVDA, NVO, ORCL, PANW, PG, QCOM, ROK, SCCO, SHOP.TO, T, TD.TO, TGT, TIH.TO, TMUS, TSLA, UNH, VZ, WCN, WMT, WSP.TO	Banking, cybersecurity, dividends, large cap, private credit, Quality, Supply Chain, technology	The integration of digital and physical realms is revolutionizing security needs. Cybersecurity continues to be crucial due to expanding digital connectivity, cloud adoption, and hybrid operations. Key emerging themes include cloud security mainstreaming, software supply chain security, OT and IoT security, and API security evolution.	PANW	View
2024 Q4	Dec 31, 2024	Madison Sustainable Equity Fund	-2.1%	17.4%	AAPL, ADBE, AMZN, BLK, COST, DHR, ECL, GOOGL, JPM, KEYS, LIN, LLY, MCD, MSFT, NEE, ORCL, SCHW, TGT, UNH, V	financials, growth, healthcare, large cap, Quality, sustainability, technology	Google's Cloud business reported accelerating revenue growth from 29% to 35% year-over-year, showing the company is gaining traction with enterprise customers. Google has released a new quantum chip that has been well received by investors for its growth potential. Adobe continues to grow with professional creative designers and enterprise customers by integrating new GenAI features into its existing software applications.		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	Dec 10, 2023	White Falcon Capital Management	6.0%	8.5%	AMD, AMZN, MCD, NU, ROVR, TECK	active management, commodities, inflation, marketplaces, Quality, value	Manager views inflation as a tax and discusses how rising yields create alternatives to equities. Emphasizes that inflation benefits companies with pricing power and those that built infrastructure with yesterday's currency but can capitalize with tomorrow's inflated dollars.	ROVR	View
2025 Q3	Nov 5, 2025	Horos Asset Management	10.7%	23.7%	AAPL, AMD, AMZN, BIDU, CMG, COST, GOOGL, INTC, KKR, MA, MCD, META, MSFT, NEON, NVDA, ORCL, PYPL, SBUX, TSLA, WMT	AI, Bubble, Europe, Margin Of Safety, technology, Valuations, value	Massive investments by hyperscalers in AI infrastructure reaching $365 billion, resembling dot-com bubble dynamics. Cross-investments between companies like NVIDIA and OpenAI mirror 1990s patterns. Energy demands and valuations appear unsustainable despite real technological potential.		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
2023 Q3	Nov 14, 2023	Tall Oak Capital Advisors	-	-	ADBE, BABA, BRK-A, BSX, CAT, CCO.TO, CNQ.TO, COST, EQIX, GOOGL, LLY, MA, MAR, MCD, MSFT, NVO, PEP, SLB, SU.TO, UNH	Defensive, dividends, energy, fixed income, healthcare, Quality	Growing demand for nuclear energy as a clean power source driven by climate change concerns and energy security. Uranium consumption has surged past pre-Fukushima levels with supply concentrated among state-owned enterprises. Small Modular Reactors expected to bolster long-term demand.	ALLY CCO.TO	View
2025 Q3	Oct 27, 2025	Horizon Kinetics	-	-	ALS.TO, CLF, EME, FCX, FNV, LB, LNG, MCD, MOS, MSB, NEM, NRG, NTR, NVDA, SBR, SJT, TRC, WBI, WPM, XOM	AI, DataCenters, Exchanges, gold, inflation, Natural Gas, Scarcity, water	Securities exchanges sit atop market action like casino croupiers, collecting spreads and benefiting from volatility while remaining indifferent to market fashions. They have extraordinary ability to let products compound without impediment and minimal capital investment requirements to support new volume levels.	MESABI SJT ALS CN WPM CN MESABI SJT ALS CN WPM CN	View
2025 Q3	Oct 19, 2025	Carillon Eagle Growth & Income Fund	-	-	ABBV, ABT, ACN, AVGO, CARR, DUK, ETN, GLW, GS, JPM, KO, LRCX, MCD, MDLZ, MSFT, ORCL, PG, PNC, RTX	AI, financials, growth, healthcare, income, large cap, semiconductors, technology	AI deployment continues to drive market performance with the Magnificent Seven up over 17%. The fund maintains exposure to AI infrastructure leaders like Corning, Oracle, and Broadcom, though managers reduced AI exposure to neutral levels after taking profits due to concentration concerns.		View
2024 Q3	Oct 16, 2024	ARK Invest	-	-	AMZN, CAT, CSCO, DOW, FDX, KHC, MCD, MMM, NKE, PG, SBUX, TMO, TXN, UPS	AI, Deflation, Fed, innovation, rates, Recession, technology	ARK expects AI and other disruptive technologies to drive productivity growth and create new products and services that replace legacy solutions. The convergence among 14 technologies involved in ARK's five major platforms should start moving the needle on macro metrics significantly during the next five to ten years. ARK is searching for diversified exposure to the AI revolution, particularly among software applications that are underrepresented in broad-based benchmarks.		View
2023 Q3	Oct 10, 2023	Purpose Investment Partners	1.2%	2.1%	AAPL, BAC, MCD	Commercial real estate, credit, high yield, liquidity, rates, Treasury	Corporate debt remains compelling vs. equities with high-yield debt yielding 9.2% and investment grade at 6.1%, representing equity-like returns with lower risk due to contractual nature and balance sheet ranking. Fund maintains 9% internal yield with significantly less interest rate risk than conventional bond indices.		View
2024 Q4	Jan 7, 2025	Horos Asset Management	1.9%	11.8%	AAPL, AMZN, AXP, CSCO, DIS, GOOGL, KO, LBTYA, MCD, META, MSFT, NVDA, PG, PYPL, TSLA	Concentration, contrarian, Europe, Market Risk, Spain, Telecommunications, value	The fund maintains a disciplined value investing approach, focusing on acquiring stocks with attractive risk-return trade-offs regardless of market trends. They emphasize contrarian positioning against trend-following investors who dominate current markets.	ZEGN.L	View
2025 Q4	Jan 23, 2026	American Century Equity Income Fund	1.8%	11.9%	BDX, EPD, GOOGL, JNJ, JPM, MCD, MCHP, MDLZ, MDT, MMC, MU, NSC, PEP, PNC, RHHBY, SYY, TFC, UL	Consumer Staples, dividends, financials, healthcare, Quality, value	The fund continues to focus on higher-quality companies with stable revenues and profits, low indebtedness, resilient cash flows and predictable business models that are less sensitive to economic conditions. This approach is viewed as offering resilience amid continuing inflation and uncertain macroeconomic conditions. Healthcare led all sectors in the fourth quarter after being beaten down for much of the year. The fund remains keen on healthcare stocks, particularly those in the healthcare equipment and supplies industry, because they are attractively valued and demand tends to be less susceptible to changes in the economic environment. The fund's investment objective focuses on current income and long-term capital growth, with a strategy of investing in companies believed to be undervalued. The portfolio positioning emphasizes income generation through dividend-paying stocks and preferred securities.		View
2025 Q4	Jan 19, 2026	Carillon Eagle Growth & Income Fund	0.0%	0.0%	ADI, AVGO, AZN, DUK, ETN, GS, HD, JPM, KO, LRCX, MCD, MSFT, ORCL, PG, PNC, RTX, TMUS	AI, Capital markets, earnings, growth, large cap, semiconductors, technology	AI-related investment remains robust and has the potential to broaden its impact across industries. The AI super-cycle continues to provide powerful support, yet it carries risks. Investor willingness to underwrite aggressive AI spending has cooled somewhat, and the debate over whether we are in an AI bubble has increased. Lam Research benefitted from improving sentiment regarding the importance of its products within the semiconductor capital spending market. As a leading provider of equipment tied to memory requirements for AI, Lam Research could have a long and healthy path to growth. Analog Devices pushed toward new all-time highs after solid earnings gave investors confidence that the analog cycle is now beyond its bottom. Earnings growth was the clear engine of the market's advance in 2025. Forward S&P 500 earnings are projected to rise 16% in 2026 over 2025. Bloomberg projects S&P 500 EPS growth of 16% in 2026, up from 15% in 2025 with 7 of 11 sectors expected to deliver double-digit gains. Goldman Sachs Group's shares contributed to fourth-quarter performance due to positive financial results, coupled with increased optimism regarding capital markets activity heading into 2026. Goldman Sachs maintains one of the strongest global merger and acquisition advisory and trading, with increased activity in M&A, initial public offerings, and debt issuance activity directly boosting its financial performance.		View
2025 Q4	Jan 15, 2026	Columbia Dividend Opportunity Fund	2.8%	15.9%	ABBV, ALB, BAC, BLK, BRX, C, CSCO, DRI, GOOGL, GPC, GPS, GS, HD, IBM, IP, JNJ, JPM, LUV, MCD, MO, MRK, MU, PM, QRVO, SBUX, SWKS, T, UDR, XOM	AI, Banking, dividends, financials, Lithium, technology, value, Yield	The fund focuses on companies with historically consistent and increasing dividends, though dividend stocks generally underperformed during the quarter as investors favored speculative companies over defensive characteristics. The manager maintains a positive view on dividend-paying stocks as an out-of-favor segment largely devoid of speculative activity. The market remained supported by ongoing enthusiasm about the artificial intelligence theme, though there was a brief stretch of concern in November about a possible AI bubble. The manager sees potential for improved relative performance if excitement surrounding AI begins to cool. The quarter was characterized by broadening market leadership away from mega-cap technology companies, contributing to relative strength in the value style. The fund's investment universe offers fundamentally sound companies trading with attractive yields and reasonable valuations. A new position in mandatory convertible securities of lithium producer Albermarle made a sizable contribution as lithium prices rose due to reduced supply from China, and market participants became more optimistic about the metal's potential use in energy storage applications.		View
2023 Q4	Jan 12, 2024	Purpose Investment Partners	3.3%	5.4%	AAPL, BAC, M, MCD, SATS	credit, Fed policy, fixed income, high yield, rates, Treasury	Fund focuses on credit investing with emphasis on business cycle timing and maintaining liquidity for dislocations. Manager discusses credit quality in Canadian preferred equity space and high-yield debt exposure. Credit profile de-risking mentioned with third-party validation of underlying asset value.	0MCB LN SATS	View
2024 Q4	Jan 1, 2025	Oak Ridge investment	-	-	MCD, NVDA, TSLA	AI, growth, healthcare, large cap, technology, Valuations	AI represents considerably greater transformative innovation than previous technologies. The U.S. economy is expected to grow 2-2.5% in 2025, fueled heavily by investments in AI and security. Jobs data will be pressured by AI over time.		View
2023 Q3	Sep 30, 2023	RiverPark Large Growth	3.7%	16.4%	AAPL, ADYEY, AMZN, BKNG, BX, EQIX, FIVN, GOOGL, ILMN, INTU, LLY, LMT, MA, MCD, META, MSFT, NFLX, PEP, SBUX, UBER	AI, Cloud, growth, large cap, payments, Streaming, technology, Travel	AI tools are driving advertising growth at Alphabet, with 80% of advertisers using at least one of the company's advertising AI tools. The company highlighted AI tools as a key driver of re-acceleration in advertising growth during the quarter.	SBUX PEP IMCD NA CLMT ALLY EQIX	View
2023 Q3	Sep 30, 2023	RiverPark Long/Short Opportunity Fund	0.6%	11.1%	AAPL, ADYEY, AMZN, BKNG, BX, EQIX, GOOGL, ILMN, LLY, LMT, MA, MCD, META, MSFT, PEP, SBUX, SHOP, UBER	AI, Cloud Computing, Internet Media, Long/Short, payments, secular growth, technology	The fund highlights AI tools as a key driver for Alphabet, noting that 80% of advertisers use at least one of the company's advertising AI tools. This contributed to re-acceleration in advertising growth and strong performance across Google's platforms.		View
2024 Q2	Jul 20, 2024	Frontaura Global Frontier	5.2%	23.3%	ASAI.L, KO, MCD	earnings, emerging markets, frontier markets, Performance, value	Portfolio trades at 5.3 times trailing earnings with 0.98 price-to-book ratio and 6.5% dividend yield. Quality Value Score of 92 projects 23% one-year and 45% two-year returns based on statistically significant regressions.		View
2023 Q2	Jun 7, 2023	St. James Investment Company	0.0%	0.0%	AAPL, AMZN, AVP, BRK.A, DIS, G, GOOGL, IBM, KO, MCD, META, MSFT, NVDA, TSLA, XRX	AI, Historical Parallels, inflation, Market Concentration, Speculation, technology, Valuations, Value Investing	AI is described as the new pixie dust driving excessive hype and speculation in technology stocks. The manager views AI as justification for absurd valuations, comparing current AI enthusiasm to historical bubbles. Every Wall Street analyst claims tech giants will benefit disproportionately from AI boom, but this follows the same pattern as previous cycles.		View
2023 Q4	Mar 18, 2024	Giverny Capital Asset Management	7.0%	20.2%	AAPL, AMZN, BAC, BRK-B, BRO, CMG, GOOGL, MCD, META, MSFT, MTB, NVDA, NVO, NVR, OZRK, SCHW, TSLA	Banking, Canada, long-term, Quality, technology, value	Artificial Intelligence was a major topic in 2023, particularly generative AI machines like Google's Gemini and ChatGPT. The manager notes that companies selling server equipment for AI are benefiting from an explosion in investment spending from major tech companies, though these expenses may not always be recurring in the future.		View
2024 Q4	Jan 26, 2025	Brennan Asset Management	-	-	ARCO, CHTR, CODI, LBRDK, LILAK, MCD, MEGA.MX, TIGO, TSLA	Banking, Buybacks, Capital Allocation, LatAM, Telecom, Valuations, value	Manager emphasizes owning multiple names that trade far below intrinsic value and could rise substantially while still trading at material discounts. Believes it would be a mistake to blindly abandon out-of-favor names and chase the highest priced businesses. Sees enormous value in several holdings that have been thrown out with the bathwater.		View
2024 Q4	Jan 17, 2025	Carillon Eagle Growth & Income Fund	-	-	AVGO, BBY, BLK, CVX, EMN, ETN, GS, JPM, MCD, MDLZ, MSFT, PG, PLD, PNC, TGT, WMB	AI, dividends, energy, financials, growth, income, large cap, technology	AI continued to drive market performance throughout 2024, with excitement around artificial intelligence remaining strong. Broadcom benefited significantly from expansion in addressable market for custom AI silicon offerings, positioning as a leader in data center connectivity and custom silicon for AI spending growth.		View
2023 Q4	Jan 17, 2024	Comus Investment	0.0%	4.8%	AAPL, MCD, META, MSFT, NVDA, SHOP, TSLA, V	Hong Kong, Japan, Microcap, Price-to-Book, quantitative, small caps, value	Manager employs quantitative value approach focusing on price-to-book and company size as primary return drivers. Emphasizes buying stocks at severe discounts to book value, particularly in smallest public companies where competition is limited and passive funds cannot participate.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 29, 2026	Fund Letters	Alluvial Capital Management	McDermott International Ltd.	Restaurants	Oil, Gas & Consumable Fuels	Bull		Bankruptcy, construction, EBITDA, energy, engineering, Middle East, Offshore, Refinancing, turnaround	View Pitch
Jan 22, 2026	Seeking Alpha	Seeking Alpha	McDonald's Corporation	Consumer Discretionary	Restaurants	Neutral	New York Stock Exchange	beef prices, consumer sentiment, EPS growth, Fast Food, Franchising, inflation, low-beta stock, McDonald's, risk-on market, valuation	View Pitch
Oct 23, 2025	Value Investors Club	falcon44	McDonald’s Corp	Consumer Discretionary	Restaurants	Bear	NYSE	Boycotts, Derating, EPS downside, QSR, tariffs	View Pitch
Aug 13, 2025	Seeking Alpha	Philipp Brohl	McDonald's Corporation	Consumer Discretionary	Restaurants	Bear	NYSE	—	View Pitch
Aug 13, 2025	Seeking Alpha	Alpha Mantra	McDonald's Corporation	Consumer Discretionary	Restaurants	Neutral	NYSE	—	View Pitch
Aug 13, 2025	Seeking Alpha	Moretus Research	McDonald's Corporation	Consumer Discretionary	Restaurants	Neutral	NYSE	—	View Pitch

BSD Shareholders of MCD

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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