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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q3 | Sep 30, 2024 | ClearBridge Investments Large Cap Value | - | - | APD, AVGO, EIX, INTC, MCK, ORLY, PH, SBUX, SHW, UPS | - | View | ||
| 2024 Q3 | Sep 30, 2024 | Latitude Global Fund | - | - | DLTR, IBKR, MCK, RYA ID, TSCO | Airlines, banks, defensives, healthcare, Rotation | The manager discusses active rotation enabled by volatility, replacing maturing winners with new long-term compounders like Ryanair, Cencora, and UnitedHealth. Market dislocations create entry points into durable franchises with strong balance sheets and long track records of capital allocation. Rotation remains a powerful source of value as fundamentals, sentiment, and sector leadership evolve. | View | |
| 2023 Q3 | Sep 30, 2023 | Alluvium Global Fund | - | - | CPRI, DKS, HCA, HRB, LUV, MCK, THO, UMG NA, WBA | - | View | ||
| 2025 Q2 | Jul 22, 2025 | Harbor Mid Cap Value Fund | 4.9% | 2.1% | ADT, MCK, NRG, TAP | Factor Investing, fundamentals, Mean reversion, mid cap value, Valuation gap | The letter focuses on significant valuation dispersion between growth and value stocks, particularly in the mid-cap segment. Management argues that deep value stocks have been left behind despite solid fundamentals and improving earnings power. Mean reversion and disciplined factor-based stock selection underpin the long-term opportunity. | View | |
| 2025 Q2 | Jul 21, 2025 | The Bristol Gate U.S. Equity Strategy | - | - | ACN, ATD CN, AVGO, CIGI, EFN CN, ENGH CN, GE, JWEL CN, MCHP, MCK, MMC, TMO, TVK CN, UNH, WCN CN, ZTS | dividends, free cash flow, income growth, Quality, Resilience | The letter focuses on quality U.S. equities with rising dividends and strong free cash flow generation. Management positions dividend growth as a stabilizing factor amid policy uncertainty and market concentration. AI-led growth is acknowledged but balanced with income discipline. | ACN MCK AVGO |
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| 2023 Q2 | Jun 30, 2023 | Alluvium Global Fund | - | - | 0RYA LN, CPRI, GOOG, HCA, MCK, NST AU, RRL AU, THO, UMG NA, WBA | - | View | ||
| 2024 Q1 | Apr 18, 2024 | The Bristol Gate U.S. Equity Strategy | 6.5% | 6.5% | AMAT, AMT, AVGO, CTVA, MCK, MMC, UNH, ZTS | - | View | ||
| 2025 Q4 | Feb 11, 2026 | Latitude Global Fund | 0.0% | 21.0% | AI.PA, ASSA-B.ST, AZO, COR, DEO, DG.PA, DLTR, EIF.PA, GOOGL, ICE, JPM, MCK, RPRX, RYA.L, SHEL, TSCO.L, UNH, V | AI, Buybacks, Europe, growth, healthcare, infrastructure, retail, value | Lower-income Americans continue to feel the squeeze, and local stores like Dollar Tree present unbeatable value and convenience. Their investments in merchandising and distribution are key competitive advantages in a world of tariffs and potential inflation. The company's prospects are bright, especially if we do ever see a rise in unemployment, which tends to benefit discount stores. Healthcare stocks have broadly underperformed the market since the election of President Trump, due to a plethora of regulatory, pricing and tariff risks. However, the distribution model has proven its strong resilience, with companies having meaningfully reduced their dependence on drug pricing. They are in effect a toll road on the US healthcare system and the opposite of economic rent-seeking businesses. Covid, somewhat ironically given the cancellation of so many flights, impacted the industry positively, as around 10% of aircraft were withdrawn from the market due to bankruptcies. Moreover, post-Covid supply chain shocks at Boeing and Airbus mean that the fleet is not going to be replaced any time soon. Ryanair's cost advantage almost doubled from levels in 2019. Google would be best positioned in an AI world, given its vertically integrated model and its pedigree in AI. The AI revenue model is clearly highly uncertain and far from guaranteed, but the likely attributes of winners in this space are data, processing power and distribution. Google dominates all three. Investing in physical assets in a world with an infrastructure deficit, and the potential resurgence of inflation, is very appealing. The requirement for renewed infrastructure investment in Europe is in the early stages, and competition will remain low giving both Vinci and Eiffage a meaningful competitive advantage. Combining low valuations and high cash conversion, our companies will generate around a 7% of their market cap in free cash flow. We expect them to pay an average dividend of 2.6% and are committed to share buybacks of around the same level. This is a 5% annual tailwind to the portfolio's fundamental growth outlook over the coming years. | ICE JPM GOOGL RYAAY RPRX MCK AZO DLTR |
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| 2024 Q4 | Dec 31, 2024 | Latitude Global Fund | - | - | AI FP, AZO, BP, COR, DEO, DG FP, DLTR, FGR FP, GOOG, HEIA NA, JPM, KO, MCK, RYA ID, SONY, TSCO, TXN, UEEC, ULVR LN, V, WEC | compounders, Macro, Resilience, Rotation, volatility | Dislocations driven by shifting global policy, sector rotations, and episodic volatility created opportunities to upgrade the portfolio into long-duration compounders. The manager emphasizes disciplined capital allocation amid uncertainty, focusing on resilient franchises with pricing power. Macro dispersion continues to shape relative value and entry points across global equities. | View | |
| 2023 Q4 | Dec 31, 2023 | Latitude Global Fund | - | - | AAP, AI FP, AZO, DEO, GOOG, MCK, SONY, TSCO, WEC | ConsumerStaples, emergingmarkets, EnergyTransition, financials, OilGas | ConsumerStaples: The fund is heavily invested in global consumer staples such as Tesco, Unilever, Diageo, Imperial Brands, Heineken and Coca-Cola, where underlying earnings growth remains solid but valuations are at multi-decade lows versus the market, setting up a prospective re-rating as emerging-market demand and easing input costs drive margins higher. Energy: The portfolio owns both utilities like WEC Energy and integrated oil majors such as Shell, seeing long runways from the energy transition, infrastructure upgrades, AI-driven data-centre power demand and disciplined capital returns via buybacks funded by high free cash flow at mid-cycle oil prices. Financials: Core positions in JPMorgan, Visa, Goldman Sachs and Bank of America are viewed as structural winners that benefit from inflation-linked fee bases and post-crisis consolidation as weaker competitors exit, enabling durable ad valorem earnings growth. | View | |
| 2022 Q4 | Dec 1, 2023 | Moon Capital Management | 0.0% | 23.0% | ABBV, CI, DVA, GRBK, LGIH, MCK | - | View | ||
| 2024 Q3 | Nov 6, 2024 | Artemis US Select Fund (Class I Accumulation Shares GBP) | -2.7% | - | BLDR, MCK, NVDA, VST, WDC | - | View | ||
| 2025 Q3 | Oct 31, 2025 | Latitude Global Fund | - | - | AZO, COR, FGR FP, JPM, MCK, RYA ID, SONY | Airlines, Brokerage, DrugDistribution, GlobalEquities, infrastructure | Compounders: The letter highlights companies growing earnings 3050%+ while trading at reasonable valuations, such as Interactive Brokers, McKesson, Cencora, and Ryanair, demonstrating multi-year intrinsic-value growth. CapitalAllocation: Management teams deploying capital through buybacks, dividends, and reinvestment drive asymmetric outcomes, especially in businesses with scale advantages and high switching costs. GlobalDiversification: Exposure across six countries and ten sectors shows that the market rally is broadening beyond AI, supporting a valuation-driven, globally diversified strategy. :contentReference[oaicite:3]{index=3} | View | |
| 2024 Q3 | Oct 18, 2024 | The Bristol Gate U.S. Equity Strategy | 8.4% | 15.0% | MCK, SHW | - | View | ||
| 2025 Q4 | Jan 5, 2026 | Greenfield Investment Management | 0.0% | 0.0% | BLDR, BNT.DE, CARR, CSU.TO, GOOGL, HEI.DE, INTC, JMHLY, MCK, OMC, POW.TO, RSHO, RYAAY, TAP, WCC | Airlines, Conglomerates, global, infrastructure, Pharmaceuticals, semiconductors, technology, value | Manager believes Heidelberg Materials will benefit from investment in and upgrading of infrastructure around the world. New bridges, highways, dams, tunnels, airports, ports, pipes, and railways require a lot of cement. McKesson investment viewed as similar to a royalty on Americans taking more pharmaceuticals over time. The pharmaceutical distribution company operates mainly in the United States and has climbed steadily despite earlier opioid crisis concerns. Manager follows value investing approach, buying companies at attractive valuations relative to earnings. Multiple examples given of purchasing stocks at low price-to-earnings multiples when they were out of favor. | View | |
| 2025 Q4 | Jan 23, 2026 | Alluvium Global Fund | -1.1% | -0.1% | 005930.KS, AN, BABA, CHTR, DKS, GOOGL, GPI, HCA, HRB, LBRDA, LNR.TO, LYB, MCK, RHI, RYAAY, THO, UMG.AS, V | AI, Airlines, global, healthcare, technology, underperformance, value | The fund discusses the rapid adoption of AI technologies, particularly Alphabet's Gemini AI which gained 650 million monthly active users in six months. Questions remain about quantifying efficiency gains and monetary benefits versus the immense capital outlays by providers. Ryanair represents the fund's largest position at 9.4%, benefiting from earlier aircraft deliveries and upgraded traffic expectations. Management expects reasonable net profit growth with strengthening competitive positioning. The fund follows a value-oriented approach, buying more of poorly performing investments as they decline. The managers acknowledge the value investor's curse of buying too early and selling too early, citing examples of premature exits from gold miners and semiconductor companies. | View | |
| 2025 Q4 | Jan 22, 2026 | NewBridge Large Cap Growth Equity | 6.7% | 32.1% | ADBE, AMZN, ANET, AVGO, CELH, CSGP, GOOGL, LLY, MCK, META, MPWR, MSFT, NFLX, NOW, NVDA, RDDT, TSLA, TW, UBER, V, VRT, ZTS | Fed, fundamentals, growth, large cap, Quality, rates, technology, Trump | The portfolio benefits from AI-related opportunities through companies like Reddit, which has secured deals with high-profile AI/LLM leaders including Google and OpenAI. These partnerships are driving user base growth and advertiser interest as Reddit leverages its data for AI use cases. Vertiv Holdings was a standout performer during the quarter as it continues to benefit from large tech companies' intentions to increase data center capacity. The company is well-positioned for the ongoing data center expansion trend. The portfolio maintained its high-growth, high-quality mandate with 98% allocated to Emerging Growth and Established Growth companies. Growth factors were the best performing quantitative factors during the quarter, including Estimated Long-term Growth, Sales Growth, and Composite Growth. The portfolio includes significant exposure to cloud infrastructure and services companies that reported strong quarterly results. These companies benefit from continued digital transformation and enterprise cloud adoption trends. | CELH RDDT TW |
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| 2024 Q4 | Jan 21, 2025 | The Bristol Gate U.S. Equity Strategy | -5.2% | 9.1% | AMAT, AVGO, BN CN, MCHP, MCK, SJ CN, TFII CN, UNH, ZTS | - | View | ||
| 2024 Q3 | Sep 30, 2024 | Alluvium Global Fund | 0.0% | 0.0% | 005930 KS, AEM, AN, CPRI, GOOG, HCA, LBRDA, LMT, LNR CN, MCK, RRL AU, UMG NA, V | - | View | ||
| 2024 Q2 | Jul 21, 2024 | Alluvium Global Fund | 0.0% | 0.0% | AEM, AN, GOOG, HRB, LBRDK, LNR CN, MCK, RHI, RRL AU, RYAAY, THO, TPR | - | View | ||
| 2024 Q2 | Jun 30, 2024 | ClearBridge Investments Large Cap Value | 0.0% | 0.0% | APD, BAC, CHTR, CVS, MCK | - | View | ||
| 2023 Q1 | May 23, 2023 | ClearBridge Investments Large Cap Value | 0.0% | 0.0% | ASML, AZPN, CASY, DISH, EMR, MCK, META, MSFT, SCHW | - | View | ||
| 2025 Q1 | Mar 31, 2025 | Alluvium Global Fund | - | - | DKS, GOOG, HCA, LBRDA, LNR CN, MCK, RHI, THO | - | View | ||
| 2022 Q4 | Feb 23, 2023 | Broyhill Asset Management | 6.0% | 0.0% | ATVI, KOF, MCK, META, MSGS, PM | - | View | ||
| 2024 Q4 | Jan 31, 2025 | Alluvium Global Fund | - | - | CHTR, CPRI, DKS, GOOG, GPI, HCA, HRB, LBRDA, LMT, LYB, MA, MCK, RYAAY, V | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 21, 2026 | Fund Letters | Freddie Lait | McKesson Corporation | Health Care | Health Care Distributors | Bull | New York Stock Exchange | Distribution, healthcare, resilience, specialty, Toll-Road | View Pitch |
| Jan 28, 2026 | Fund Letters | Erin Greenfield | McKesson Corp | Health Care | Health Care Distributors | Bull | New York Stock Exchange | cashflow, defensive, Distribution, pharmaceuticals, scale | View Pitch |
| Jan 27, 2026 | Fund Letters | Stuart Pearce | McKesson Corporation | Health Care | Health Care Distributors | Bull | New York Stock Exchange | cashflow, Distribution, GLP-1, pharma, scale | View Pitch |
| Jan 8, 2026 | Fund Letters | Achilleas Taxildaris | McKesson Corporation | Health Care | Health Care Distributors | Bull | New York Stock Exchange | Acquisitions, cashflow, Distribution, efficiency, Glp1, healthcare | View Pitch |
| Nov 29, 2025 | Fund Letters | Freddie Lait | McKesson Corporation | Health Care | Health Care Technology | Bull | NYSE | buybacks, cashflow, Defensiveness, Distribution, growth, healthcare | 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 |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||