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MEDP

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2023 Q2	Jul 8, 2023	Torre Financial	13.2%	31.9%	6367.T, ADYEY, AMD, ANSS, ASML, CDNS, FI, GOOGL, JNJ, LIN, LRCX, LZAGY, MCHP, MEDP, MSFT, NFLX, NOW, NVDA, NVO, ON, PGR, SWAV, TSLA, TSM, TXN, WISE.L	AI, global, growth, innovation, large cap, semiconductors, technology	The fund discusses being in the early stages of an AI bubble where long-term promise is significant but near-term corrections are expected. They take a prudent approach to AI exposure, being careful on valuation and more inclined toward suppliers to the spending spree rather than direct beneficiaries.		View
2025 Q2	Jul 18, 2025	Mairs & Power – Small Cap Fund	-	-8.3%	AIR, AZEK, CASY, CLFD, HUBG, INSP, JHX, KNF, MEDP, MGPI, NVT, PATK, TREX, WK	AI, healthcare, infrastructure, materials, small caps, technology, valuation	AI-related stocks in the S&P 500 have accounted for around 75 percent of the market's return since ChatGPT's 2022 launch. Roughly 40 percent of capital expenditures are linked to AI. Investment in infrastructure required to power, cool, and connect a more data-intensive economy continues, with the AI and data-center buildout fueling a multi-year capital-expenditure cycle.	JHX TREX PATK	View
2025 Q2	Jul 15, 2025	Madison Mid Cap Fund	5.3%	0.9%	ACGL, ANET, APH, BRO, CDW, CHTR, CPRT, CSL, FND, IT, LBRDA, LH, MCHP, MEDP, MKSI, PCAR, ROST, TDY, WAT, WRB	AI, mid cap, Quality, semiconductors, technology, value	Technology stocks continued strong performance driven by AI-related data center spending. Amphenol and Arista Networks are capitalizing on the surge in AI-related data center spending with outstanding revenue growth. The Information Technology sector is benefiting from widespread exuberance around AI.		View
2025 Q2	Jul 15, 2025	Canopy Investors	9.4%	-	DOL.TO, EDEN.PA, HEI, ICON, MEDP, TW, WISE.L	global, Quality, small caps, Speculation, Trump, underperformance, value	The Fund maintains strict quality and valuation discipline, investing in high-quality companies with strong competitive advantages. Quality companies are able to weather risk and emerge stronger during market downturns.	EDEN.PA DOL.TO ICLR WISE.L 4390.T HEI EDEN FP DOL CN ICLR 4194 JP HEI WISE	View
2025 Q2	Jul 11, 2025	Giverny Capital Asset Management	9.1%	5.4%	AAON, ALGN, ANET, BLDR, BRK.A, CSU.TO, FERG, FI, GOOGL, HEI.A, IBP, JPM, KMX, KNSL, MA, MEDP, META, MTB, PGR, SCHW	AI, Banking, insurance, Quality, technology, value	The US appears to be the global leader in Artificial Intelligence, with hundreds of billions of dollars being invested in AI data centers over the next few years. Close to one-third of the portfolio has considerable exposure to AI through positions in Arista, Alphabet, Meta, AAON, and a new holding that is critical to the buildout of AI and cloud computing data centers.	FI KNSL PGR MTB GOOG FISV KNSL	View
2025 Q2	Jun 30, 2025	Vulcan Value Partners – Small Cap	8.1%	3.6%	AMZN, ARES, CG, DNB, FORT.L, GOOGL, IBST.L, IQV, ISS.CO, LFUS, MC.PA, MEDP, MSFT, PGHN.SW, UNH	AI, Alternative Assets, healthcare, tariffs, technology, value, volatility	Significant focus on healthcare investments including UnitedHealth Group despite operational challenges and CEO transition. IQVIA Holdings added as largest CRO globally with strong positioning despite industry headwinds. Healthcare represents core value opportunity during market volatility.		View
2025 Q2	Jun 30, 2025	Vulcan Value Partners – Focus Plus	9.5%	3.2%	AMZN, ARES, CG, DNB, FORT.L, GOOGL, IBST.L, IQV, ISS.CO, LFUS, MC.PA, MEDP, MSFT, PGHN.SW, UNH	AI, Alternative Assets, healthcare, tariffs, technology, value, volatility	Significant focus on healthcare investments including UnitedHealth Group despite operational challenges and IQVIA Holdings as the largest CRO globally. Healthcare represents both opportunity and risk with government policy exposure but stable underlying business models.		View
2025 Q2	Jun 30, 2025	Vulcan Value Partners – Focus Plus	8.8%	2.3%	AMZN, ARES, CG, DNB, FORT.L, GOOGL, IBST.L, IQV, ISS.CO, LFUS, MC.PA, MEDP, MSFT, PGHN.SW, UNH	AI, Alternative Assets, healthcare, tariffs, technology, value, volatility	Significant focus on healthcare investments including UnitedHealth Group despite operational challenges and IQVIA Holdings as the largest CRO globally. Healthcare represents both value opportunities and operational turnaround situations with stable underlying business models.	FORT.L GOOGL AMZN LFUS ISS.CO ARES MSFT IQV UNH UNH	View
2025 Q2	Jun 30, 2025	Vulcan Value Partners – Large Cap	7.0%	4.7%	AMZN, ARES, CG, DNB, FORT.L, GOOGL, IBST.L, IQV, ISS.CO, LFUS, MC.PA, MEDP, MSFT, PGHN.SW, UNH	AI, Alternative Assets, healthcare, tariffs, technology, value, volatility	Significant focus on healthcare investments including UnitedHealth Group despite operational challenges and IQVIA Holdings as the largest CRO globally. Healthcare represents both value opportunities and operational turnaround situations with stable underlying business models.	FORA.L GOOGL AMZN LFUS ISS.CO ARES MSFT IQV UNH	View
2025 Q2	Jun 30, 2025	Vulcan Value Partners – Small Cap	6.7%	1.9%	AMZN, ARES, CG, DNB, FORT.L, GOOGL, IBST.L, IQV, ISS.CO, LFUS, MC.PA, MEDP, MSFT, PGHN.SW, UNH	AI, Alternative Assets, healthcare, private credit, tariffs, technology, value, volatility	Market volatility related to tariffs increased markedly during the second quarter, creating opportunities to execute investment philosophy. The tariff tantrum and Liberation Day created meaningful stock price declines, followed by moderation of tariff policies that led to rallies in previously discounted companies.	ISS DC MSFT IQV	View
2025 Q1	Apr 9, 2025	Vulcan Value Partners – Small Cap	-4.5%	-4.5%	ABT, AMZN, ARES, CRM, CWK, ENS, FI, GOOGL, ISS.CO, ITRN, JLL, LYV, MAR, MEDP, MSFT, PRG, SW.PA, SWK, SWKS, TPG	Facilities Management, real estate, small cap, tariffs, value, volatility	Market volatility returned during the first quarter, creating opportunities for the firm to execute their dual investment discipline. The firm welcomes volatility as it provides opportunities to purchase stable value businesses at lower prices with larger margins of safety. Price to value ratios improved across all strategies during the quarter.	SODEXO.PA GOOGL MSFT AMZN CRM PRG ITRN ISS JLL SWKS TPG SWK MEDP	View
2025 Q1	Apr 9, 2025	Vulcan Value Partners – Large Cap	-2.1%	-2.1%	ABT, AMZN, ARES, CRM, CWK, ENS, FI, GOOGL, ISS.CO, ITRN, JLL, LYV, MAR, MEDP, MSFT, PRG, SW.PA, SWK, SWKS, TPG	healthcare, large cap, real estate, technology, value, volatility	Market volatility returned during the first quarter, creating opportunities to execute dual investment discipline by purchasing stable value businesses at lower prices with larger margins of safety. The firm welcomes volatility as it provides opportunities to improve price to value ratios across all strategies.	SODEXO.PA GOOGL MSFT AMZN CRM PRG ITRN ISS JLL SWKS TPG SWK MEDP	View
2025 Q1	Apr 9, 2025	Vulcan Value Partners – Small Cap	-4.1%	-4.1%	ABT, AMZN, ARES, CRM, CWK, ENS, FI, GOOGL, ISS.CO, ITRN, JLL, LYV, MAR, MEDP, MSFT, PGHN.SW, PRG, SW.PA, SWK, SWKS, TPG	Asset Management, real estate, tariffs, technology, value, volatility	Market volatility returned during the first quarter, creating opportunities for the firm to execute their dual investment discipline. The manager welcomes volatility as it provides opportunities to purchase stable value businesses at lower prices with larger margins of safety. Price to value ratios improved across all strategies during the quarter.	SW PRG ITRN ISS JLL SWKS TPG SWK MEDP	View
2025 Q1	Apr 9, 2025	Vulcan Value Partners – Focus Plus	-5.8%	-5.8%	AMZN, CRM, GOOGL, ISS.CO, ITRN, JLL, MEDP, MSFT, PRG, SW.PA, SWK, SWKS, TPG	AI, Capital Allocation, Cloud, tariffs, technology, value, volatility	Market volatility returned during the first quarter, creating opportunities to execute dual investment discipline and purchase stable value businesses at lower prices with larger margins of safety. The firm welcomes volatility as it provides opportunities to reallocate capital and improve price to value ratios across all strategies.	SODP.PA SWKS ITRN ISS JLL TPG SWK MEDP	View
2025 Q1	Apr 9, 2025	Vulcan Value Partners – Focus Plus	-6.0%	-6.0%	ABT, AM, AMZN, CRM, CWK, ENS, FI, GOOGL, ISS.CO, ITRN, JLL, LYV, MAR, MEDP, MSFT, PGHN.SW, PRG, SW.PA, SWK, SWKS, TPG	Cloud, concentrated, large cap, technology, value, volatility	Market volatility returned during the first quarter, creating opportunities to execute dual investment discipline by purchasing stable value businesses at lower prices with larger margins of safety. The firm welcomes volatility as it provides opportunities to improve price-to-value ratios across all strategies.	SODEXO.PA SWKS PRG ITRN ISS JLL TPG SWK MEDP	View
2024 Q1	Apr 25, 2024	Vulcan Value Partners – Small Cap	9.1%	9.4%	CCK, CNM, MEDP	Biotechnology, healthcare, packaging, small cap, value	Crown Holdings is the second largest manufacturer of aluminum beverage cans globally with high barriers to entry and stable margins. The industry structure, scale, and long-term contracts with inflationary pass-throughs result in solid returns and robust free cash flow. Aluminum cans are taking share from plastic as a more sustainable product.	CCK SBUX KMX LYV	View
2024 Q1	Apr 25, 2024	Vulcan Value Partners – Large Cap	8.2%	17.6%	AMAT, AMZN, CCK, CNM, CRM, GE, KKR, KMX, LYV, MEDP, MSFT, NICE, SBUX, TDG, TXN	aerospace, E-Commerce, Entertainment, large cap, software, technology, value	Live Nation is the world's largest live entertainment company operating in an industry that has grown in the high single-digits over the last two decades with demand continuing to exceed supply. Artists today make 90% of their revenue on tour as album sales and royalties become less important, with tours increasingly global and more shows per tour.	CCK SBUX KMX LYV	View
2024 Q1	Apr 25, 2024	Vulcan Value Partners – Small Cap	8.1%	16.5%	AMAT, AMZN, CCK, CNM, CRM, GE, KKR, KMX, LYV, MEDP, MSFT, NICE, SBUX, TDG, TXN	aerospace, Capital markets, E-Commerce, Entertainment, software, technology, value	Live Nation is the world's largest live entertainment company with the industry growing in high single-digits over two decades. Demand continues to exceed supply with artists making 90% of revenue on tour as album sales become less important. Live Nation's comprehensive offerings and scale enable better pricing and venue organization decisions.	CCK SBUX KMX LYV	View
2024 Q1	Apr 25, 2024	Vulcan Value Partners – Focus Plus	5.6%	18.6%	AMAT, AMZN, CCK, CNM, CRM, GE, KKR, KMX, LYV, MEDP, MSFT, NICE, SBUX, TDG, TXN	Concentration, free cash flow, large cap, long-term, Margin Of Safety, value	Multiple portfolio companies are benefiting from cloud adoption trends. Amazon reported strong results with cloud transition as a secular tailwind. Salesforce continues to execute well in CRM and SFA software with strong free cash flow growth. NICE's cloud revenue has grown in line with expectations.	CHD SBUX KMX LYV	View
2024 Q1	Apr 25, 2024	Vulcan Value Partners – Focus Plus	5.9%	18.7%	AMAT, AMZN, CCK, CNM, CRM, GE, KKR, KMX, LYV, MEDP, MSFT, NICE, SBUX, TDG, TXN	aerospace, Cloud, Entertainment, large cap, software, technology, value	Cloud revenue growth continues to meet expectations at NICE, with generative AI driving cloud adoption. Amazon's cloud transition remains a powerful secular tailwind. Microsoft's Azure cloud computing continues to execute well.	CCK SBUX KMX LYV	View
2025 Q1	Apr 23, 2025	Polen Capital – U.S. Small Company Growth	-10.8%	-10.8%	AAON, AIT, BROS, ELF, EXLS, FOXF, GLOB, GSHD, MEDP, MODG, NSIT, PCTY, PGNY, RMBS, RVLV, TECH, TREX, WRBY, YETI	consumer discretionary, growth, Portfolio Management, Quality, small caps, tariffs, volatility	The first quarter was marked by heightened volatility due to concerns about the Trump administration's emerging trade policies and global tariff imposition. The managers stress-tested their businesses across various tariff policy scenarios and made portfolio adjustments, particularly exiting Consumer Discretionary positions vulnerable to tariff uncertainty.	TECH RVLV ELF GLOB GSHD EXLS BROS	View
2024 Q1	Apr 23, 2024	ClearBridge Investments Small Cap Growth Strategy	0.0%	0.0%	CNMD, DOOR, DUOL, ELF, FWRD, IART, INSM, INTA, IRDM, MEDP, MSTR, OC, OMCL, RDNT, SMCI, TMO, TREX, VKTX, WING, XPO	AI, Biotechnology, growth, healthcare, small cap, technology	AI infrastructure build-out has had a narrow set of beneficiaries, with enthusiasm for AI fueling atypical concentration and performance distortion in the benchmark. RadNet has invested heavily in newer AI applications that can provide an additional revenue stream while improving early identification of cancers.	ELF DUOL INTA INSM MEDP RDNT CNMD VKTX	View
2025 Q1	Apr 2, 2025	LVS Advisory – Growth	0.3%	0.3%	HHH, ICLR, MEDP	activism, Cro, real estate, risk management, value	Manager discusses the contract research organization business model through investments in Icon and Medpace. Icon pursued aggressive M&A strategy to serve large pharma while Medpace focuses on small biotech companies. Research revealed that serving small biotech companies is a better model than working with large pharma as a CRO.	ICLR HHH	View
2025 Q1	Apr 2, 2025	LVS Advisory – Event Driven	0.8%	0.8%	HHH, ICLR, MEDP	activism, Cro, Event Driven, real estate, risk management	Howard Hughes Corp owns master planned communities across the United States, which are large-scale residential developments that integrate commercial spaces and recreational facilities. The company's flagship MPC is The Woodlands in Houston, Texas.	ICLR HHH	View
2026 Q1	Apr 18, 2026	Madison Small Cap Fund	0.1%	0.1%	CHRD, CRL, CVLT, DRS, ENTG, FORM, GMED, GTLB, ICUI, MEDP, MTDR, PCOR, POWI, SITE, VIAV, WK	AI, defense, energy, healthcare, semiconductors, small caps, software		SITE PCOR MTDR ICUI	View
2026 Q1	Apr 18, 2026	Madison Mid Cap Fund	-4.3%	-4.3%	BRO, BSY, FWONA, IT, MC, MEDP, MKSI, PCAR, ROST, TDY, THO, TTAN, TYL	AI, mid cap, Quality, semiconductors, software, value		BSY TYL	View
2024 Q1	Apr 17, 2024	Langdon Global Smaller Companies	5.1%	5.1%	ATD.TO, ATZ.TO, HYQ.DE, MEDP, RBREW.CO, RCH.TO, TOI.TO, WOSG.L	Beverages, Europe, global, healthcare, Luxury, small caps, value	Royal Unibrew has made 11 acquisitions in 3 years spending over $900 million, doubling invested capital. Input costs per hectoliter increased over 50% due to inflation, temporarily depressing returns on capital to half historical levels. The company trades at lowest cash earnings multiple since 2013 on near trough earnings.	MEDP WOSG.L RBREW.CO	View
2026 Q1	Apr 16, 2026	Fairlight Global Small & Mid Cap Fund	-14.2%	-14.2%	DPLM.L, FERG, G24.DE, HLMA.L, MEDP, RAA.DE, REC.MI, SCT.L, SPX.L	Distribution, global, healthcare, industrials, Quality, small cap, technology			View
2024 Q1	Apr 15, 2024	Mairs & Power – Small Cap Fund	0.0%	9.0%	AMZN, AZEK, CASY, CLFD, CTLT, CVRX, DOC, KNF, LFUS, MEDP, META, MGPI, MSFT, NVDA, NVT, PIPR, PLXS, TNC, WK	AI, financials, productivity, small caps, technology, value	Small cap stocks continue to trade at a significant discount to their larger cap peers, with small caps trading at a 32% discount to the broader market as measured by the S&P 500, and at a 14% discount to small cap stock's average as measured by the S&P 600. This is despite the average of analysts' earnings growth estimates for small cap companies outpacing large cap companies for the next several years. The fund sees great opportunities to invest in small companies with above-average growth prospects that are trading at favorable valuations.		View
2024 Q1	Apr 15, 2024	Wasatch Small Cap Growth Strategy	7.6%	7.6%	AGYS, CWAN, FIVN, HQY, MEDP, MSTR, NEOG, NVMI, SMCI, YETI	AI, fundamentals, growth, healthcare, semiconductors, small cap, technology	AI and technology broadly drove much of the market returns during Q1, with IT producing approximately half of the Russell 2000 Growth Index's total return. Wasatch has three main considerations regarding AI: avoiding companies whose business models will be materially disrupted, being attracted to companies that can use AI to strengthen competitive positions or reduce costs, and being interested in certain companies directly involved in AI while cognizant of potential asymmetric risks and unreasonable valuations.	AGYS FIVN CWAN YETI HQY NVMI MEDP	View
2024 Q1	Apr 10, 2024	NZS Capital – Growth	-	-	6367.T, ADYEY, AMD, ANSS, ASML, FI, JNJ, LIN, LONN.SW, MCHP, MEDP, NFLX, NOW, NVDA, ON, PGR, SWAV, TSM, TXN, WISE.L	AI, global, growth, innovation, large cap, semiconductors, technology	The fund discusses being in the early stages of an AI bubble with long-term promise but near-term correction risk. They take a prudent approach to AI exposure, being careful on valuation and more inclined toward suppliers to the spending spree. The fund notes AI's potential impact is unknowable but enthusiasm is bordering euphoria.		View
2024 Q4	Dec 31, 2024	Vulcan Value Partners – Small Cap	-7.3%	1.3%	AMZN, CCK, CG, CRM, EG, ELV, FBHS, GOOGL, HEIA.AS, LYV, MEDP, MIDD, PBH.TO, PGHN.SW, QRVO, RI.PA, RTO.L, SDIP.ST, SW.PA, UNH	Building Products, discount, Europe, Foodservice, Margin Of Safety, small caps, value	Small Cap is the most discounted portfolio in terms of price compared to intrinsic value estimates, providing the highest margin of safety. The manager believes the market is overly focused on short-term results and not properly recognizing long-term prospects of quality companies trading at discounts.		View
2024 Q4	Dec 31, 2024	Vulcan Value Partners – Large Cap	-0.1%	17.5%	AMZN, CCK, CG, CRM, ELV, FBHS, GOOGL, HEIA.PA, MEDP, MIDD, PBH.TO, PGHN.SW, QRVO, RE, RI.PA, RTO.L, SDIP.ST, SW.PA, UNH	Alternative Asset Managers, global, healthcare, large cap, Margin Of Safety, technology, value	Manager emphasizes buying companies with stable values at attractive margins of safety. Price to value ratios remained relatively flat across strategies despite double-digit returns. Focus on allocating capital to companies with larger margins of safety as U.S. markets outperformed.		View
2024 Q4	Dec 31, 2024	Vulcan Value Partners – Small Cap	-2.5%	13.6%	AMZN, CCK, CG, CRM, ELV, FBHS, GOOGL, HEIA.AS, KKR, LYV, MEDP, MIDD, PBH.TO, PGHN.SW, QRVO, RE, RI.PA, RTO.L, SW.ST, UNH	Alternative Asset Managers, Concentration, healthcare, insurance, international, value	Manager emphasizes buying companies with stable values at attractive margins of safety. Portfolio price-to-value ratios remained relatively flat despite double-digit returns as capital was reallocated from companies whose prices rose faster than values into more discounted opportunities.		View
2024 Q4	Dec 31, 2024	Vulcan Value Partners – Focus Plus	6.3%	26.1%	AMZN, CCK, CG, CRM, ELV, FBHS, GOOGL, HEIA.AS, KKR, LYV, MEDP, MIDD, PBH.TO, PGHN.SW, QRVO, RE, RI.PA, RTO.L, SDIP.ST, SW.PA, UNH	concentrated, Intrinsic Value, large cap, long-term, Margin Of Safety, value	Everest Group is a global reinsurance and insurance business known for disciplined underwriting. The company underwrites aggressively in hard markets and builds capacity during soft markets, focusing on growing intrinsic value per share over long-term rather than managing short-term earnings.		View
2024 Q4	Dec 31, 2024	Madison Small Cap Fund	4.0%	22.2%	AAPL, AMN, AMZN, FROG, GOGO, GOOGL, KN, MEDP, META, MSFT, NVDA, ORCL, TSLA, VFC, WSC	AI, Construction, healthcare, industrials, small cap, technology, value	The AI boom continued with Nvidia adding $2 trillion in market value in 2024. Five hyperscalers have spent nearly $1 trillion on capital spending over five years, fueling Nvidia's growth. Questions remain about actual economic returns from these investments beyond Chat GPT and generative AI.	MEDP VFC KN AMN GOGO FROG WSC	View
2023 Q4	Dec 31, 2023	Wasatch Small Cap Growth Strategy	7.6%	7.6%	BRBR, FOXF, MEDP, PCTY, PNFP, XPEL	earnings, financials, growth, healthcare, Quality, small caps, technology	High-quality companies with strong cash flows and below-average debt levels are positioned to outperform as market conditions normalize. These companies can use their cash flows for buybacks, acquisitions, and capital spending initiatives to support long-term growth.	PCTY XPEL FOXF PNFP MEDP BRBR	View
2023 Q4	Dec 31, 2023	NCG Small Cap Growth Strategy	4.8%	14.8%	BRZE, CSTL, CWAN, DAVA, FLYW, GWRE, KNSL, LGIH, MEDP, NTRA, SILK, TMDX, TNDM, VRRM	Biotechnology, Fed Pivot, growth, healthcare, market breadth, small caps	Small cap stocks underperformed large caps heading into the fourth quarter, with the Russell Microcap Growth Index down about 5% through Q3. However, market breadth broadened in November and December following the Fed pivot, with the Russell Microcap Growth Index returning 13.68% versus 4.42% for large caps. The rally was primarily led by low quality stocks and sectors most impacted by the Fed's restrictive stance.	CSTL TNDM ASIC\|CWAN\|INSP\|KRMN\|KTOS\|MAC\|MEG\|RH\|WYNN NTRA ARGX BB\|DAVA\|DDOG\|GLOB\|ILMN\|LOAR\|MELI\|NET\|NU\|NVDA\|TSM ACGL\|APH\|COO\|CSGP\|DKNG\|GWRE\|IDXX\|IOT\|IT\|LPLA\|MSCI\|MTD\|PCOR\|ROP\|TECH\|VRSK BRZE MEDP	View
2023 Q4	Dec 31, 2023	NCG SMID Cap Growth Strategy	4.8%	15.5%	BRZE, CSTL, CWAN, DAVA, DXCM, FLYW, GWRE, KNSL, LGIH, MEDP, NTRA, SILD, TMDX, TNDM, VRRM, VRT	Biotech, growth, healthcare, Medical Devices, small caps, technology	Healthcare holdings drove much of the underperformance across strategies due to investor perception that GLP-1 drugs will reduce medical interventions. Many healthcare companies began recovering in Q4 and the firm believes in long-term growth fundamentals. The firm continues direct research to inform investment decisions in this space.	DXCM MELI\|NFLX\|ORCL\|TCOM\|VRTX\|YUMC CSTL TNDM ASIC\|CWAN\|INSP\|KRMN\|KTOS\|MAC\|MEG\|RH\|WYNN NTRA ARGX BB\|DAVA\|DDOG\|GLOB\|ILMN\|LOAR\|MELI\|NET\|NU\|NVDA\|TSM ACGL\|APH\|COO\|CSGP\|DKNG\|GWRE\|IDXX\|IOT\|IT\|LPLA\|MSCI\|MTD\|PCOR\|ROP\|TECH\|VRSK BRZE MEDP	View
2023 Q2	Dec 7, 2023	Madison Mid Cap Fund	7.2%	12.4%	ABG, ACGL, ANET, APH, BAM, BRO, CDW, CFR, CHTR, CPRT, CSL, EXPD, FND, FWONA, FWONK, GBCI, GCI, GGG, IT, KNSL, LAD, LBRDA, LH, MC, MCHP, MEDP, MKSI, PCAR, ROST, TDY, TECH, THO, TREX, WAT, WRB	AI, mid cap, Quality, semiconductors, technology, value	AI-related data center spending is driving strong performance in technology holdings like Amphenol and Arista Networks. The fund is participating in this surge while also noting strength in other business areas beyond AI for these companies.		View
2025 Q3	Nov 11, 2025	AMG GW&K Small Cap Core Fund	6.9%	3.6%	ABCB, CRDO, HLI, INTA, LOPE, MEDP, MTSI, PRIM, RBC, RGTI, RMBS, SPXC, STRL, SUPN	AI, Biotech, earnings, healthcare, small cap, technology	The market saw impressive gains driven by artificial intelligence stocks, though the fund missed these speculative rallies due to its focus on consistent earnings. The team added two technology stocks to increase exposure to AI infrastructure during the quarter.		View
2025 Q3	Oct 9, 2025	ClearBridge Investments Small Cap Growth Strategy	-	-	BE, BPMC, BROS, BWXT, CGON, CLBT, CRDO, FTAI, ICLR, INSM, KTOS, KVYO, MEDP, MIRM, ORCL, RGTI, RNA, RYTM, SHFT, WING	AI, Biotechnology, defense, Energy Transition, growth, semiconductors, small cap, software	AI infrastructure investments are narrowly driving economic growth alongside retail enthusiasm for high-growth-potential markets. The Strategy sees extreme performance divergence between perceived AI winners and losers in software holdings, with concerns around potential AI disintermediation affecting software stocks despite strong earnings beats.	KD US BE US	View
2024 Q3	Oct 7, 2024	Headwaters Capital Management, LLC	8.8%	21.4%	ASGTF, CLMB, EYE, FICO, MEDP	Biotechnology, Buybacks, Commercial real estate, mid cap, Rate Cuts, small caps, software	Manager discusses small cap outperformance potential following Fed rate cuts, noting historical patterns where small caps benefit from easing cycles. Cheap valuations and faster earnings growth outlook for 2025 support continued outperformance opportunity.	ASGTF	View
2024 Q3	Oct 7, 2024	Rodrigo Benedetti	-	-	ABT, APP, ARKK, ASTS, COOP, EW, HIFS, KRE, LUMN, MBIN, MDT, MEDP, PFBC, TMDX	Europe, financials, Medical Devices, Shorts, Tankers, trading, volatility	Manager sees opportunities in tankers due to seasonal weakness ending and Middle East conflict escalation. Expects enforcement of dark fleet sanctions to benefit compliant fleet carrying offsetting output from Saudi Arabia and others, tightening ship availability. However, notes growing orderbook and higher valuations make tankers difficult as long-term holds.	EW	View
2025 Q3	Oct 6, 2025	Giverny Capital Asset Management	6.8%	12.6%	AAON, ALGN, ANET, CACC, CSU.TO, FERG, FI, GOOGL, HEI, IBP, JPM, KMX, KNSL, MEDP, META, NVDA, PGR, SCHW, TSM, TWFG	AI, Geopolitical Risk, Owner Operators, Quality, semiconductors, technology, valuation	Manager discusses AI enthusiasm reaching euphoria levels, with 41 AI-related stocks accounting for 75% of S&P 500 returns since ChatGPT launched. Portfolio has 30% exposure through Arista, Alphabet, Meta, Taiwan Semiconductor and Aaon. Expresses concern about Nvidia's $100 billion financing deal with OpenAI, comparing it to dot-com era vendor financing arrangements.	NVDA US MEDP US	View
2024 Q3	Oct 30, 2024	Baird Small/Mid Cap Growth Equity Fund	6.9%	2.7%	AAON, ACLS, ALAB, APPF, BMI, BOOT, BROS, BSY, BURL, BWXT, CACI, CASY, CWA, CYBR, EXLS, FANG, FDS, FIVE, FND, FOUR, IEX, INSP, IRTC, JKHY, KAI, KNSL, LFUS, LGIH, LSCC, LW, MANH, MEDP, MNDY, NBIX, ONTO, PCOR, PODD, POOL, PRCT, RXST, SITM, SMPL, TARS, TREX, TYL, ULS, VNOM, WSC	financials, growth, healthcare, industrials, semiconductors, small caps, software, technology	The fund initiated a position in Astera Labs, a fast-growing and profitable developer of semiconductor products known as retimers that are key enablers of AI workloads and help prevent GPU bottlenecks. The manager believes this business adds further profitable AI-exposure to the portfolio.		View
2025 Q3	Oct 28, 2025	Canopy Investors	-4.1%	-	AZO, BVI.PA, EDEN.PA, HEI, MCO.PA, MEDP, ROL, SBAC, STE, SXS.L, TREX, TW	AI, Biotechnology, Construction, Defensive, global, Quality, semiconductors, small caps	Small biotechs are the engine of innovation in the pharma industry and are expected to grow at high-single-digit rates over the medium term. Biotech funding levels and Pfizer's agreement with the Trump Administration on drug pricing have been cautiously positive developments.	TREX MEDP TREX US MEDP US TREX US MEDP US	View
2025 Q3	Oct 24, 2025	Wasatch Long/Short Alpha Fund	-7.3%	-	ENSG, FN, FOUR, FRPT, HQY, INSP, KAI, MEDP, MORN, MPWR, OPEN, OZK, RBC, ROP, SG, WDAY	AI, Biotech, healthcare, Long/Short, Quality, risk-on, small cap, Speculation	The fund focuses on long positions in high-quality companies while shorting low-quality businesses. The manager emphasizes that high-quality stocks have historically outperformed over the long term despite recent underperformance. The fund screens companies based on financial characteristics like return on assets and operating profit margins.		View
2025 Q3	Oct 24, 2025	Mairs & Power – Small Cap Fund	-	2.1%	AIR, AZEK, CASY, CLFD, HUBG, INSP, JHX, KNF, MEDP, MGPI, NVT, PATK, TREX, WK	AI, earnings, GLP1, infrastructure, small caps, technology, value	AI-related stocks in the S&P 500 have accounted for around 75% of market returns since ChatGPT's 2022 launch. Investment in infrastructure to power, cool, and connect a data-intensive economy shows durable momentum. The AI and data-center buildout is fueling a multi-year capital expenditure cycle extending beyond semiconductors to power generation, transmission, distribution, nuclear capacity, and thermal management.	PATK	View
2024 Q3	Oct 23, 2024	Langdon Global Smaller Companies	9.0%	16.7%	CSWI, DQ, ESQ, FEVR.L, GSHD, HEINY, JLG.AX, MEDP, NVDA, ROYAL.CO, YETI	Europe, global, Research, small caps, software, Travel	The manager spent 2+ months in Lyon, France testing an extended stay approach to investment research, conducting dozens of meetings across Western Europe. This 'invest like a local' philosophy involves understanding local context through extended presence rather than brief hotel-based visits.	ALSK.PA YETI	View
2025 Q3	Oct 22, 2025	Optimist Fund	9.1%	44.5%	CVNA, DASH, FADU, FVRR, HFG.DE, MEDP, MNDY, RVLV, SWIM, TDUP, UBER, W	Biotech, Cyclical, E-Commerce, growth, mid cap, Recovery, technology	The fund sees acceleration in cyclical e-commerce holdings like Wayfair and ThredUp that have been in multi-year downswings. Wayfair delivered strong growth with revenue up 5-6% and expanding margins, while ThredUp posted 16% revenue growth with strong operating leverage.	MEDP CVNA TDUP W MEDP CVNA TDUP W	View
2024 Q3	Oct 21, 2024	Giverny Capital Asset Management	7.0%	20.2%	AAPL, AHT.L, AMZN, ANET, BRK.A, CSU.TO, FND, GOOG, GOOGL, HEI.A, IBP, KMX, MEDP, META, MSFT, NVDA, PGR, SCHW, TSLA	earnings, growth, Quality, US, value	Manager emphasizes owning highest-quality businesses helmed by owner-managers with deeply rooted interest in enterprise success. US corporate America has achieved exceptional returns on equity around 20% and profit margins exceeding 16%, compared to historical norms of 14% ROE and 10% margins.	MEDP	View
2025 Q3	Oct 20, 2025	Baillie Gifford – International Alpha	6.7%	19.5%	APP, ATCO-A.ST, BHP, COIN, EDEN.PA, ELV, ENSG, ENTG, GMAB, LLY, MEDP, MSCI, NVO, SHOP, SOI.PA, UNH	AI, Biotechnology, E-Commerce, global, growth, healthcare, Performance, technology	AI enthusiasm continues to drive market rallies with companies like AppLovin demonstrating the potential of AI tools. AppLovin's proprietary AI-powered recommendation engine AXON is driving over 70% annual sales growth with even faster profitability growth. The company is increasingly positioned as a leading global performance advertising platform through its scale, advanced AI capabilities, and disciplined execution.		View
2025 Q3	Oct 20, 2025	Wasatch Small Cap Growth Strategy	-3.7%	-	AGYS, BRBR, ENSG, FN, FOUR, HQY, INSP, MEDP, NVMI, OLLI, PCTY, PNFP, RBC, SHAK	AI, growth, Quality, semiconductors, small caps, technology, underperformance	The fund focuses on high-quality, long-duration growth companies while markets have favored low-quality stocks with speculative business models. The quality gap between fund holdings and the index is near its widest level in at least a decade based on return on assets metrics.		View
2024 Q3	Oct 15, 2024	LVS Advisory – Growth	0.0%	36.7%	MEDP	Biotechnology, Cro, growth, healthcare, small caps, value	Medpace operates as a contract research organization managing clinical trials for pharmaceutical companies through full-service outsourcing model. The company serves small and mid-sized biotech companies with high-value-add services including technical consulting. CROs are experiencing temporary headwinds from reduced biotech funding since 2022, but long-term growth drivers remain intact.	MEDP	View
2024 Q3	Oct 15, 2024	LVS Advisory – Event Driven	0.0%	7.5%	MEDP	Biotechnology, Cro, Event-Driven, growth, healthcare	Medpace operates as a contract research organization managing clinical trials for pharmaceutical companies through full-service outsourcing model. The company serves small and mid-sized biotech companies with high-value-add services including technical consulting. Despite temporary biotech funding slowdown affecting industry growth, long-term drivers remain intact with innovation in drug discovery and AI adoption potentially accelerating growth.	MEDP	View
2025 Q3	Oct 14, 2025	Vulcan Value Partners – Small Cap	5.5%	9.3%	CBRE, CRM, FISV, GOOGL, JLL, KMX, MEDP, SEE, UNH	Buybacks, consumer discretionary, financials, healthcare, technology, value	Manager emphasizes owning outstanding businesses with substantial margins of safety at attractive price to value ratios. All portfolios improved their price to value ratios despite positive returns, with Focus and Focus Plus in upper 60s and Small Cap in mid 50s.	GOOGL US MEDP US FISV US	View
2025 Q3	Oct 14, 2025	Vulcan Value Partners – Focus Plus	3.7%	7.0%	CBRE, CRM, FISV, GOOGL, JLL, KMX, MEDP, SEE, UNH	Buybacks, consumer discretionary, financials, healthcare, technology, value	Manager emphasizes owning outstanding businesses with substantial margins of safety at attractive price to value ratios. All portfolios improved their price to value ratios despite positive returns, with Focus and Focus Plus portfolios having price to value ratios in the upper 60s and Small Cap in the mid 50s.	Salesforce Inc GOOGL US	View
2025 Q3	Oct 14, 2025	Vulcan Value Partners – Focus Plus	3.7%	6.1%	CBRE, CRM, FISV, GOOGL, JLL, KMX, MEDP, SEE, UNH	Buybacks, consumer discretionary, financials, healthcare, technology, value	Manager emphasizes owning outstanding businesses with substantial margins of safety at attractive price-to-value ratios. Despite positive returns, they improved price-to-value ratios across all portfolios by reallocating capital from higher-priced stocks to more discounted companies. Focus and Focus Plus portfolios have price-to-value ratios in the upper 60s, while Small Cap remains most discounted in the mid 50s.	Salesforce Inc UNH US GOOGL US	View
2025 Q3	Oct 14, 2025	Vulcan Value Partners – Large Cap	4.6%	9.5%	CBRE, CRM, FISV, GOOGL, JLL, KMX, MEDP, SEE, UNH	Buybacks, consumer discretionary, financials, healthcare, technology, value	Manager emphasizes owning outstanding businesses with substantial margins of safety at attractive price-to-value ratios. All portfolios improved their price-to-value ratios despite positive returns, with Focus and Focus Plus portfolios having ratios in the upper 60s and Small Cap in the mid 50s.	GOOGL MEDP FISV	View
2025 Q3	Oct 14, 2025	Vulcan Value Partners – Small Cap	4.1%	6.1%	CBRE, CRM, FISV, GOOGL, JLL, KMX, MEDP, SEE, UNH	Buybacks, consumer discretionary, financials, healthcare, technology, value	Vulcan emphasizes owning outstanding businesses with substantial margins of safety at attractive price to value ratios. They improved price to value ratios across all portfolios despite positive returns, with Focus and Focus Plus portfolios having price to value ratios in the upper 60s and Small Cap in the mid 50s.		View
2025 Q3	Oct 14, 2025	Madison Mid Cap Fund	1.9%	2.8%	ACGL, ANET, APH, BRO, CDW, CHTR, CPRT, CSL, FND, IT, LBRDA, LH, MCHP, MEDP, MKSI, PCAR, ROST, TDY, WAT, WRB	AI, mid cap, Quality, semiconductors, technology, value	Information Technology sector benefiting from widespread exuberance around AI, with portfolio companies Amphenol and Arista Networks capitalizing on surge in AI-related data center spending. Technology stocks continued very strong performance driven by AI momentum.	ANET APH MEDP	View
2025 Q3	Oct 10, 2025	Headwaters Capital Management, LLC	-2.9%	-5.4%	AMD, AMZN, BSY, BYD, DRVN, GOOGL, INSP, MEDP, META, MSFT, NVDA, ORCL, VVV	AI, Auto Aftermarket, Biotechnology, Bubble, Capex, mid cap, value	Manager believes AI infrastructure spending represents a massive capital cycle similar to telecom buildout in late 1990s, with hyperscalers spending $405B annually by 2026. Views current AI investment as unsustainable earnings bubble driven by elevated CAPEX rather than valuation bubble. Cites Oracle-OpenAI $300B contract as example of irrational economics requiring OpenAI to reach Google Search scale in two years.		View
2024 Q4	Jan 9, 2025	LVS Advisory – Growth	-	37.0%	EVR, JEF, LAZ, MC, MEDP, NVDA, PJT, PWP	Antitrust, Concentration, Event-Driven, growth, Investment Banks, M&A, Portfolio Management	M&A activity expected to surge in 2025 under Trump administration with less aggressive antitrust enforcement. Investment banks outperformed significantly in 2024 anticipating this recovery. Event-driven portfolio positioned to benefit from wider deal spreads and improved merger arbitrage environment.		View
2024 Q4	Jan 9, 2025	LVS Advisory – Event Driven	-	8.0%	EVR, JEF, LAZ, MC, MEDP, NVDA, PJT, PWP	Antitrust, Event-Driven, Investment Banks, M&A, Merger Arbitrage, portfolio construction, Trump	M&A activity expected to surge in 2025 due to Trump administration's less aggressive antitrust stance. Investment banks outperformed significantly in 2024 anticipating this recovery. The exit of several large merger arbitrage funds creates supply/demand imbalance for wider deal spreads.		View
2025 Q4	Jan 27, 2026	Giverny Capital Asset Management	0.0%	12.6%	ALGN, ANET, CACC, CSU.TO, FERG, FI, GOOGL, HEI, HWKN, IBP, JPM, KGIC, KMX, MA, MEDP, META, SCHW, TSM, TWFG, WSO	AI, HVAC, insurance, Quality, small caps, technology, value	Manager discusses AI's transformative potential while noting uncertainty around returns on massive infrastructure investments. Believes AI won't displace portfolio companies like HVAC distributors and insurance companies, which may gain efficiency advantages. Compares current AI buildout to historical railroad and telecom infrastructure booms where users benefited more than builders. Portfolio is significantly overweight smaller companies with 45% in companies below $54 billion market cap versus 12.5% for the S&P 500. Manager believes these market leaders in niche areas will outperform over time despite recent underperformance relative to mega-cap tech stocks. Manager emphasizes owning high-performing businesses with strong earnings growth and capital returns. Notes the S&P Quality Index underperformed in 2025 but believes quality usually wins in the end. Recent portfolio upgrades focused on improving returns on capital, earnings growth and management quality.	FISV CACC KMX ALGN WSO KNSL SCHW ANET	View
2025 Q4	Jan 20, 2026	Fairlight Global Small & Mid Cap Fund	0.0%	-7.9%	CPRT, DPLM.L, FDS, G24.DE, HLMA.L, IDXX, IT, MEDP, REC.MI, ULTA	AI, global, healthcare, Quality, small caps, technology, underperformance	Several portfolio companies experienced sharp multiple contractions due to perceived higher risk of disintermediation from expected widespread adoption of Generative Artificial Intelligence. The manager estimates this was an 8% hit to returns, though believes the extent of recent derating is excessive given companies' successful track records of defending market leadership. The fund focuses exclusively on high-quality businesses with demonstrable track records of earning outsized returns on capital, stable management teams, conservative balance sheets, and avoiding single points of failure. Portfolio companies collectively grew revenues by 6% and EPS by 9% in 2025 despite challenging conditions. Healthcare represents 13% of portfolio exposure with holdings like IDEXX Laboratories in companion animal diagnostics and Medpace in clinical research. These companies benefit from recurring revenue models, market share gains, and structural industry growth tailwinds supporting improved diagnosis and drug development.	IT	View
2024 Q4	Jan 20, 2025	Baird Small/Mid Cap Growth Equity Fund	5.1%	8.0%	ACLS, ALAB, APPF, CACI, CHX, CYBR, GKOS, LW, MASI, MEDP, MNDY, NBIX, ONTO, PEN, PODD, PSTG, RXST, SITM, TARS, VERX, VITA	AI, growth, healthcare, Outperformance, semiconductors, small caps, technology	The fund holds Astera Labs, a fast-growing semiconductor company with exposure to AI and data center infrastructure. The company's stock increased over 150% in the quarter following new product announcements and stronger than expected sales growth. Pure Storage was initiated as a new position, expected to benefit from hyperscaler AI spending with recent design wins.		View
2025 Q4	Jan 18, 2026	Vulcan Value Partners – Small Cap	1.3%	10.7%	CBRE, CRM, CSGP, FI, GOOGL, ITRN, KMX, MC.PA, MEDP, MSFT, QRVO, RE, RI.PA, RYSG, SSCC, SWKS, TRU, UNH	AI, Buybacks, insurance, Margin Of Safety, Quality, small caps, technology, value	AI is in early stages of disrupting numerous businesses similar to the Internet in the 1990s. The manager notes AI stocks accounted for approximately 61% of the S&P 500's return in 2025. Unlike the dot-com era, some AI leaders are real businesses financing substantial AI investments with self-generated cash flow, though valuations for some are attractive while others may be overvalued. The manager emphasizes following value investing discipline by purchasing only companies from their MVP list with stable values at discounted prices. They focus on businesses with sustainable competitive advantages trading below intrinsic value estimates, with portfolios showing improved price-to-value ratios across all strategies despite positive absolute returns. Small Cap returns have lagged Large Cap for an extended period, with Small Cap Value performing even worse. The manager notes conversations with clients questioning continued Small Cap allocation, spotty sell-side coverage, and an ignored segment creating opportunities. Their Small Cap portfolio remains most discounted with weighted average price-to-value ratio in mid-50s. The manager owns more insurance-related businesses, highlighting opportunities in the sector. They discuss Ryan Specialty Holdings as a commercial excess and surplus insurance broker, and Everest Group as a leading reinsurance company trading at discount to tangible book value despite producing underwriting profits. Share repurchases are highlighted as value-creating when companies buy back stock below intrinsic value. Medpace used strong balance sheet and free cash flow to repurchase over 8% of shares at approximately 50% of estimated intrinsic value, giving shareholders 100% return on each dollar spent on buybacks.	FISV SWKS TRU KMX RYAN	View
2025 Q4	Jan 18, 2026	Vulcan Value Partners – Focus Plus	0.1%	7.1%	CBRE, CRM, CSGP, FI, GOOGL, ITRN, KMX, MC.PA, MEDP, MSFT, QRVO, RE, RI.PA, RYAN, SSNC, SW, SWKS, TRU, UNH	AI, Buybacks, healthcare, insurance, small caps, technology, value	AI is in early stages of disrupting numerous businesses similar to the Internet in the 1990s. The manager believes AI is as real and transformational as the Internet, with approximately 61% of the S&P 500's return in 2025 coming from AI-related stocks. However, concerns exist about paying too much for AI businesses despite their real potential. The manager is finding tremendous opportunities in non-AI related companies that are steadily compounding their values but being ignored by the market. These 'old economy' companies are becoming increasingly discounted while AI stocks dominate returns, creating attractive value opportunities similar to the late 1990s dot-com era. Small Cap returns have lagged Large Cap for an extended period, with the manager noting conversations about whether to continue allocating to Small Caps. The Small Cap portfolio has a weighted average price to value ratio in the mid-50s, representing the most discounted portfolio. Sell-side coverage is spotty to nearly non-existent for many small cap holdings. Share repurchases are highlighted as a key value creation mechanism, with Medpace repurchasing over 8% of shares at approximately 50% of intrinsic value, effectively providing 100% returns on capital deployed. Companies are using strong balance sheets and free cash flow for opportunistic buybacks at discounted valuations.	MSFT CSGP CRM GOOG CBRE RYAN	View
2025 Q4	Jan 18, 2026	Vulcan Value Partners – Focus Plus	0.1%	6.2%	CBRE, CRM, CSGP, FI, GOOGL, ITRN, KMX, MC.PA, MEDP, MSFT, QRVO, RE, RI.PA, RYAN, SSNC, SW.PA, SWKS, TRU, UNH	AI, healthcare, insurance, Quality, small caps, technology, value	Manager emphasizes value investing discipline, focusing on companies trading at substantial discounts to intrinsic value. Portfolio has improved price-to-value ratios across all strategies while delivering positive returns. Small Cap portfolio has weighted average price-to-value ratio in mid-50s, which manager considers incredible in current environment. Artificial Intelligence is disrupting numerous businesses similar to the Internet in the 1990s. AI stocks accounted for approximately 61% of S&P 500's return in 2025. Manager believes AI is as transformational as the Internet but warns against paying excessive valuations for AI-related companies, drawing parallels to dot-com bubble. Small Cap returns have lagged Large Cap for extended period, with Small Cap Value performing even worse. Manager sees this as opportunity, noting sell-side coverage is sparse and segment is ignored and unloved. Small Cap portfolio remains most discounted with weighted average price-to-value ratio in mid-50s. Manager focuses on MVP list of highest quality, most stable value companies in the world with sustainable competitive advantages. Lower quality companies have outperformed higher quality companies, especially in Small Cap, with companies having negative earnings accounting for 28% of Russell 2000 Value Index return. Medpace used strong balance sheet and free cash flow to repurchase over 8% of shares at approximately 50% of estimated intrinsic value. Every dollar spent on share repurchases gave 100% return because they were purchasing at half of estimated fair value, increasing estimated value per share by 29% in single quarter.		View
2025 Q4	Jan 18, 2026	Vulcan Value Partners – Large Cap	-1.5%	7.9%	CBRE, CRM, CSGP, EVER, FI, GOOGL, ITRN, KMX, MC.PA, MEDP, MSFT, QRVO, RI.PA, RYAN, SSNC, STLA, SW, SWKS, TRU, UNH	AI, Buybacks, healthcare, insurance, small caps, technology, value	Manager emphasizes value investing discipline, focusing on companies trading at substantial discounts to intrinsic value. Portfolio weighted average price to value ratio improved to low 60s while maintaining positive returns. Small Cap portfolio has weighted average price to value ratio in mid-50s, representing incredible opportunity in current environment. Artificial Intelligence is in early stages of disrupting numerous businesses, similar to Internet in 1990s. AI stocks accounted for approximately 61% of S&P 500's return in 2025. Manager acknowledges AI as transformational technology but warns against paying excessive valuations for AI-related companies, drawing parallels to dot-com bubble. Small Cap returns have lagged Large Cap for extended period, creating attractive opportunities. Small Cap Value has been particularly weak. Manager notes sell-side coverage of Small Caps is much less robust, leading to ignored and unloved segment. Small Cap portfolio remains most discounted with weighted average price to value ratio in mid-50s. Share repurchases highlighted as value-creating activity when companies buy back stock below intrinsic value. Medpace repurchased over 8% of shares at approximately 50% of estimated intrinsic value, increasing estimated value per share by 29% in single quarter. Every dollar spent on buybacks provided 100% return due to purchasing at half of fair value.		View
2025 Q4	Jan 18, 2026	Vulcan Value Partners – Small Cap	3.2%	9.5%	CBRE, CRM, CSGP, FISV, GOOGL, ITRN, KMX, MC.PA, MEDP, MSFT, QRVO, RE, RI.PA, RYAN, SSNC, STLA, SW.PA, SWKS, TRU, UNH	AI, discount, insurance, Quality, small cap, value	Manager emphasizes value investing discipline, focusing on companies trading at substantial discounts to intrinsic value. Small Cap portfolio has weighted average price to value ratio in mid-50s, representing significant margin of safety in current environment. Artificial Intelligence is disrupting numerous businesses similar to the Internet in the 1990s. AI stocks accounted for approximately 61% of S&P 500 returns in 2025, creating market concentration risks reminiscent of dot-com era. Small Cap returns have lagged Large Cap for extended period, creating attractive opportunities. Manager notes sell-side coverage is sparse and segment is ignored and unloved, often indicating good allocation timing. Portfolio includes more insurance-related businesses including Everest Group reinsurance and Ryan Specialty excess and surplus insurance broker. These companies offer attractive risk-adjusted returns and capital allocation opportunities.	ITRN EG	View
2025 Q4	Jan 18, 2026	Mairs & Power – Small Cap Fund	0.0%	4.0%	ABT, AIR, BSY, CASY, CVRX, EXAS, INSP, KNF, MEDP, MGPI, NVT, WK	AI, earnings, healthcare, rates, small caps, technology, Valuations	AI and increasing market concentration took center stage in 2025, with the rate of investment in technology and AI infrastructure spending driving market narrative. McKinsey projects nearly $7 trillion in capital expenditures will be needed worldwide by 2030 to build up AI infrastructure. The managers believe they are entering a transition period for AI, with signals that the cycle is moving into a higher risk phase given the flood of capital and unusual financing structures. Small cap companies are showing their first signs of earnings growth recovery after three years of contraction, posting 13% growth in 2025. Small cap stocks are still trading at a significant discount to the S&P 500, which the managers believe presents an attractive opportunity for long-term investors. Lower interest rates, reduced corporate tax burdens, and regulatory relief could offer further support to small caps. The Federal Reserve cut rates in the fourth quarter with expectations for lower interest rates continuing into 2026. Lower rates should provide a tailwind to profitability for smaller companies and make it easier for them to find talent. Interest rate changes take time to work through the economy, typically around a year to feel the effects.		View
2023 Q4	Jan 17, 2024	Vulcan Value Partners – Focus Plus	5.6%	18.6%	AMZN, BVS.PA, CBRE, CG, CIGI, CRM, CWK, DEO, DNB, FORT.L, IBTX.L, ISS.CO, JLL, KKR, LFUS, MEDP, MSFT, PK, SDIP.ST, TDG, V, VCP.L, VRTS	AI, Alternative Assets, Cloud, Commercial real estate, Concentration, large cap, value	Vulcan follows a disciplined value approach, investing in companies trading at discounts to intrinsic value with margins of safety. They reallocated capital from companies whose prices rose more rapidly than intrinsic value estimates into companies with larger margins of safety.	DNB LFUS FORT.L IBTX.L DEO	View
2025 Q4	Jan 15, 2026	Canopy Investors	-	-	4194.T, ASSA-B.ST, AUTO.L, AZEK, JHX, MEDP, MONC.MI, NEM, PTC, TREX, TW	AI, Enterprise Software, global, Japan, Quality, SMID Cap, valuation	AI has driven significant market rotation away from quality stocks, with concerns about disruption weighing on enterprise software and online classifieds companies. The fund believes AI disruption fears are overdone for their portfolio companies, which are more likely to be beneficiaries than victims of AI adoption. Quality was the worst-performing investment factor in H1 FY26, with lower-quality and more volatile stocks significantly outperforming. This represents a continuation of quality underperformance reminiscent of the late 1990s dot-com era, driven by speculative investor behavior and thematic investing. Japan faces structural labor shortages driving increased mid-career hiring and workforce mobility. The country has a new pro-business Prime Minister and depreciating yen enhancing export competitiveness, though it faces labor shortages, inflation, and geopolitical risks with China. Enterprise software companies face investor concerns about AI disruption, particularly around AI agents displacing traditional interfaces and reducing barriers to entry. However, many providers digitize structured processes that AI cannot easily replace and are likely to benefit from AI integration.	4194 JP TREX AUTO LN MEDP PTC	View
2024 Q3	Sep 30, 2024	Wasatch Small Cap Growth Strategy	-	-	CWAN, ENSG, FROG, HQY, INSP, MEDP	financials, growth, healthcare, industrials, small caps, technology	Multiple healthcare technology companies in the portfolio including Clearwater Analytics for investment accounting, Inspire Medical for sleep apnea solutions, and HealthEquity for health savings accounts. These companies are benefiting from digital transformation in healthcare and growing adoption of specialized software solutions.	HQY MEDP FROG INSP ENSG CWAN	View
2022 Q4	Sep 2, 2023	Vulcan Value Partners – Small Cap	9.1%	9.4%	ENS, FWRD, ISS DC, MEDP, VIP GR	-			View
2023 Q2	Jul 31, 2023	Vulcan Value Partners – Large Cap	8.2%	17.6%	AMZN, CSGP, CWK, DNB, ELV, ENS, FI, G, GE, GOOGL, MEDP, MLKN, MSFT, PRG, SMRT, SSNC, TDG, UPS	AI, Cloud, free cash flow, large cap, payments, technology, value	Amazon's AWS continues to show strong customer pipeline despite growth deceleration, with significant technology workloads remaining on-premise. Microsoft drives digital cloud growth and benefits from AI wave while generating operating leverage. The managers remain confident in long-term cloud assumptions.	CHKP. ELV ENS PRG MEDP SFR DNB ^GSPC SSNC FISV	View
2023 Q2	Jul 31, 2023	Vulcan Value Partners – Small Cap	9.1%	9.4%	AMZN, CRNC, CSGP, CW, CWK, DNB, ELV, ENS, FI, G, GE, GOOGL, MEDP, MLKN, MSFT, PRG, SMRT, SSNC, TDG, UPS	AI, Cloud, free cash flow, healthcare, payments, small cap, technology, value	AWS growth continues to slow but significant technology workloads remain on-premise with strong new customer pipeline. Microsoft driving digital cloud growth and benefiting from AI wave while generating operating leverage.		View
2024 Q2	Jul 23, 2024	Mairs & Power – Small Cap Fund	0.0%	9.0%	ALRS, ASB, AZEK, CASY, CFR, CLFD, CVRX, GBCI, HUBG, INSP, JBT, KNF, MEDP, MGPI, NVT, PIPR, QCRH, TNC, WK, WTFC	healthcare, interest rates, Regional Banks, small caps, technology, value	Small cap stocks currently trade at a 40% discount to the broader market as measured by the S&P 500, a 13% discount to the S&P 500 Equal-Weighted Index, and at a 15% discount to small cap stocks' long-term average. Analysts' earnings growth estimates for small cap companies outpace large cap companies for the next several years. The fund continues to see great opportunities to invest in small companies with above-average growth prospects that are trading at favorable valuations.		View
2024 Q2	Jun 30, 2024	Baird Small/Mid Cap Growth Equity Fund	6.9%	2.7%	AAON, APPF, BAH, CACI, CNMD, DECK, FIVE, FND, FSS, GKOS, HEI, INSP, ITCI, JNJ, LGIH, LII, MANH, MEDP, NBIX, PODD, POOL, PRCT, RBC, RGEN, RXST, SPSC, SSD, TARS, TREX, TXRH, VERX, XPEL, ZBRA	AI, Defense Spending, growth, healthcare, small caps, software, technology	Artificial intelligence continues to drive outperformance in technology-related businesses. The portfolio benefits from AI tailwinds through utilities and telecommunications sectors. AAON's recent BASX Solutions acquisition provides exposure to datacenter infrastructure builds driven by AI needs.		View
2025 Q1	Apr 15, 2025	Giverny Capital Asset Management	-3.4%	-3.4%	AAON, ANET, BLDR, BRK-B, CSU.TO, FIVE, GOOGL, HEI, KMX, KNSL, MEDP, META, PGR, SCHW, TWFG	Construction, insurance, Quality, technology, Trade Policy, value	Trump's tariff policies created significant market volatility, with the manager viewing the tariff plan as economically damaging. The manager believes exiting global trade agreements would lead to rising prices and weaker corporate profits, creating a less favorable investing environment.	BLDR AAON TWFG	View
2023 Q1	Apr 14, 2023	Madison Mid Cap Fund	7.2%	12.4%	ACGL, ANET, APH, BRO, CDW, CHTR, CPRT, CSL, FND, IT, LBRDA, LH, MEDP, MKSI, PCAR, ROST, TDY, TREX, WAT, WRB	AI, mid cap, Quality, semiconductors, technology, value	Technology stocks continued strong performance driven by AI-related data center spending. Amphenol and Arista Networks capitalized on the surge in AI-related data center spending, though managers note strength in other business areas as well.		View
2023 Q1	Mar 31, 2023	Wasatch Small Cap Growth Strategy	7.6%	7.6%	BOOM, CYBR, FIVE, FOXF, GDYN, INSP, MEDP, PCTY	growth, healthcare, inflation, interest rates, Quality, small caps, technology	The strategy focuses on U.S. small-cap growth companies, specifically those in the Russell 2000 Growth Index. The managers believe small-cap growth companies with strong fundamentals will reassert themselves as economic conditions normalize, particularly as high-quality companies can take advantage of falling equity prices through buybacks and acquisitions.	CYBR PCTY GDYN FIVE ASIC\|CWAN\|INSP\|KRMN\|KTOS\|MAC\|MEG\|RH\|WYNN MEDP	View
2023 Q4	Feb 20, 2024	Polen Capital – U.S. Small Company Growth	7.4%	-0.9%	BWMN, CCCS, CNM, FIVE, FOXF, GNRC, HLNE, LGIH, MEDP, MODG, QLYS, WING, XPEL	concentrated, growth, Quality, Resilience, small cap, value	Polen focuses on high-quality businesses with robust free cash flow, persistent growth, and high returns on capital. They seek companies that are undervalued relative to their long-term compounding potential and emphasize businesses with resilient financial models and strong balance sheets.		View
2023 Q4	Feb 16, 2024	Polen Capital – Global SMID Company Growth	7.4%	-2.4%	3697.T, AZPN, BMBL, CCCS, DLO, ETSY, EVD.DE, FIVE, FOXF, GNRC, MEDP, MKTX, MPWR, PAYC, POOL, TECH, TME, WRBY, XPEL, YUMC	consumer, global, growth, Quality, SMID Cap, software, technology	Five Below recovered from Q3 weakness with 14% year-on-year revenue growth and raised guidance. The discount retailer continues to outperform peers and benefits from consumers looking to stretch their dollar further in a challenging macro backdrop.	CCCS PAYC XPEL EVD.DE 3697.T FIVE	View
2024 Q4	Jan 24, 2025	Giverny Capital Asset Management	0.8%	21.1%	AHT.L, ALGN, ANET, BRK-A, CACC, CSU.TO, FERG, FI, FIVE, GOOGL, HEI.A, IBP, JPM, KNSL, MA, MEDP, META, MTB, PGR, SCHW	AI, Concentration, growth, mid cap, technology, value	Artificial Intelligence data centers are driving massive investment in networking equipment, with Arista Networks benefiting as the leader in that sector. The market appears to see that AI data centers will require robust investment in networking equipment.	MEDP ALGN KNSL FERG FI IBP AHT MTB	View
2023 Q4	Jan 18, 2024	Polen Capital – U.S. SMID Company Growth	8.8%	-1.3%	CNM, FIVE, FOXF, GNRC, GSHD, MEDP, MKTX, PAYC, POOL, TECH, TREX, TTD, WING	growth, healthcare, Quality, Resilience, SMID Cap, technology	The fund focuses on high-quality businesses with robust free cash flow, persistent growth, and high returns on capital. They seek companies with resilient financial models, strong balance sheets, and the ability to self-fund growth. The portfolio is purpose-built for financial resiliency, owning only what research suggests to be the highest quality companies in their asset class.		View
2023 Q4	Jan 17, 2024	Vulcan Value Partners – Small Cap	9.1%	9.4%	CIGI, CWK, DEO, FORT.L, IBST.L, ISS.CO, LFUS, MEDP, PK, SDIP.ST, VIC.L, VRTS	Commercial real estate, Concentration, infrastructure, interest rates, Margin Of Safety, small cap, value	Multiple small cap holdings are exposed to commercial real estate services and REITs. Interest rate declines in Q4 2023 drove outperformance across real estate-oriented companies. The sector faces challenges from higher rates and weak economic conditions but should benefit from Fed rate cuts expected in 2024.	LFUS FORT.L IBTX.L DEO	View
2023 Q4	Jan 17, 2024	Vulcan Value Partners – Large Cap	8.2%	17.6%	AMZN, BVS.PA, CG, CIGI, CRM, CWK, DEO, FORT.L, GOOGL, IBST.L, ISS.CO, JLL, KKR, LFUS, MEDP, MSFT, PK, SDIP.ST, TDG, VRTS	Alternative Assets, Concentration, large cap, Margin Of Safety, real estate, technology, value	Manager follows disciplined value approach, reallocating capital from companies whose prices rose more rapidly than intrinsic value estimates into companies with larger margins of safety. Focus on businesses trading at discount to estimated intrinsic value with inherently stable values and competitive advantages.	LFUS FORT.L IBTX.L DEO	View
2023 Q4	Jan 17, 2024	Vulcan Value Partners – Focus Plus	5.9%	18.7%	AMZN, CBRE, CG, CIGI, CRM, CWK, DEO, FORT.L, GOOGL, IBST.L, ISS.CO, KKR, LFUS, MEDP, MSFT, PK, SDIP.ST, TDG, V, VRTS	AI, Alternative Assets, Cloud, Concentration, large cap, real estate, technology, Value Investing	Microsoft is benefiting from its investments in artificial intelligence. The company is well positioned from an AI standpoint which should further underpin sustainable cloud penetration and growth. Salesforce is constantly innovating with new products, features, and artificial intelligence to deepen customer relationships and grow the business.	DEO	View
2024 Q4	Jan 14, 2025	Ithaka US Growth Strategy	8.2%	30.2%	ADBE, AMD, AMZN, ANET, ASML, CRM, LULU, MEDP, MELI, NOW, NVDA, PLTR, UBER	AI, concentrated, growth, large cap, technology	Portfolio holdings with significant exposure to the global AI theme outperformed in Technology sector. Palantir's meteoric rise was driven by investor excitement regarding the company's ability to further monetize its AI product across its growing customer base. ServiceNow's stock rose driven by growing investor recognition of the company's dominant position in monetizing AI workloads.	ASML UBER AMD PLTR AMZN NOW	View
2022 Q4	Jan 3, 2023	Wasatch Small Cap Growth Strategy	7.6%	7.6%	BOOM, CYBR, FIVE, FOXF, GDYN, ISNP, MEDP, PCTY	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	Wasatch Small Cap Growth Strategy	Medpace Holdings, Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Biotechnology Services, Clinical development, contract research organization, Cro, Free Cash Flow, Healthcare services, share repurchases	View Pitch
Apr 28, 2026	Fund Letters	NCG Small Cap Growth Strategy	Medpace Holdings	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	biopharma, Clinical trials, contract research, Cro, growth, Healthcare services, life sciences, market share	View Pitch
Apr 28, 2026	Fund Letters	NCG SMID Cap Growth Strategy	Medpace Holdings	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	biopharma, Biotech, Clinical trials, contract research organization, Cro, Healthcare services, life sciences, market share gains	View Pitch
Apr 28, 2026	Fund Letters	Vulcan Value Partners - Large Cap	Medpace Holdings Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Biotech, Clinical trials, Cro, life sciences, Outsourcing, Pharmaceutical	View Pitch
Apr 27, 2026	Fund Letters	Wasatch Small Cap Growth Strategy	Medpace Holdings, Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Bull, Clinical trials, contract research organization, Guidance Raise, Healthcare services, life sciences, Outsourcing	View Pitch
Apr 13, 2026	Fund Letters	Vulcan Value Partners - Small Cap	Medpace Holdings Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	biotechnology, Cro, drug development, Free Cash Flow, growth, Healthcare services	View Pitch
Apr 13, 2026	Fund Letters	Vulcan Value Partners - Large Cap	Medpace Holdings Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	biotechnology, Cro, drug development, Equity, Free Cash Flow, growth, Healthcare services	View Pitch
Apr 13, 2026	Fund Letters	Vulcan Value Partners - All Cap	Medpace Holdings Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	biotechnology, contract research, Cro, drug development, Free Cash Flow, Healthcare services, life sciences	View Pitch
Apr 13, 2026	Fund Letters	Vulcan Value Partners - Focus	Medpace Holdings Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	biotechnology, Cro, drug development, Equity, Free Cash Flow, growth, Healthcare services	View Pitch
Apr 13, 2026	Fund Letters	Vulcan Value Partners - Focus Plus	Medpace Holdings Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Biotechnology Services, Cro, drug development, Free Cash Flow, growth, healthcare	View Pitch
Apr 13, 2026	Fund Letters	ClearBridge Investments Small Cap Growth Strategy	Medpace Holdings Inc	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Above-Peer Growth, Biotech Services, cash flow generation, Clinical research, Cro, drug development, Outsourcing	View Pitch
Apr 13, 2026	Fund Letters	Wasatch Small Cap Growth Strategy	Medpace Holdings, Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Biotech Services, Clinical development, contract research, Cro, defensive, growth, healthcare	View Pitch
Apr 13, 2026	Fund Letters	Langdon Global Smaller Companies	Medpace Holdings Inc	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Biotech Services, Cincinnati, Clinical trials, Cro, growth, healthcare, life sciences, pharmaceuticals	View Pitch
Apr 13, 2026	Fund Letters	Madison Small Cap Fund	Medpace Holdings Inc	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	biopharma, Biotech, Clinical trials, contract research, Cro, Free Cash Flow, life sciences, market share gains	View Pitch
Apr 13, 2026	Fund Letters	LVS Advisory - Growth	Medpace Holdings Inc	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Biotech Services, Clinical trials, contract research, Cro, Full-Service Outsourcing, high-ROIC, Niche Market Leader, organic growth, Pharmaceutical R&D, vertically integrated	View Pitch
Apr 13, 2026	Fund Letters	LVS Advisory - Event Driven	Medpace Holdings Inc	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Biotech, Clinical trials, contract research organization, Cro, Full-Service Outsourcing, niche market, organic growth, Pharmaceutical R&D, recurring revenue, vertical integration	View Pitch
Apr 13, 2026	Fund Letters	Giverny Capital Asset Management	Medpace Holdings	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Biotech, Clinical research, Cro, Drug Trials, FDA, founder-led, Healthcare services	View Pitch
Apr 13, 2026	Fund Letters	Giverny Capital Asset Management	Medpace Holdings, Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Biotech, Clinical trials, Cro, drug development, FDA, founder-led, life sciences, political uncertainty	View Pitch
Apr 13, 2026	Fund Letters	Wasatch Small Cap Growth Strategy	Medpace Holdings, Inc.	Pharmaceuticals, Biotechnology & Life Sciences	Life Sciences Tools & Services	Bull	NASDAQ	Biotech Services, Clinical research, Clinical trials, Cro, drug development, life sciences, Pharmaceutical Outsourcing	View Pitch
Jan 20, 2026	Fund Letters	Jack McManus	Medpace Holdings, Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Biotech, Bookings, Cro, Cyclicality, earnings	View Pitch
Jan 8, 2026	Seeking Alpha	Seeking Alpha	Medpace Holdings, Inc.	Healthcare	Clinical Research	Neutral	NASDAQ Stock Market	Clinical research, earnings growth, growth-at-a-reasonable-price, investment strategy, margin of safety, Medpace, S&P 500 outperformance, stock analysis, Time Until Payback, valuation	View Pitch
Jan 8, 2026	Seeking Alpha	Seeking Alpha	Medpace Holdings, Inc.	Clinical Research	Clinical Research	Neutral	NASDAQ Stock Market	Buy and Hold, Clinical research, earnings growth, growth-at-a-reasonable-price, margin of safety, Medpace, S&P 500, Time Until Payback, valuation, Volatility	View Pitch
Jan 8, 2026	Seeking Alpha	Seeking Alpha	Medpace Holdings, Inc.	Clinical Research	Clinical Research	Neutral	NASDAQ Stock Market	Clinical research, earnings growth, growth-at-a-reasonable-price, investment strategy, margin of safety, Medpace, S&P 500, Stock performance, valuation, Volatility	View Pitch
Dec 3, 2025	Fund Letters	Jack McManus	Medpace Holdings Inc	Health Care	Biotechnology	Bull	NASDAQ	Biotech, Bookings, Cro, Margins, Outsourcing	View Pitch
Nov 29, 2025	Fund Letters	C.T. Fitzpatrick	Medpace Holdings Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Biotech, buybacks, Clinical research, FCF, growth	View Pitch
Nov 29, 2025	Fund Letters	Rich Eisinger	Medpace Holdings Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Clinical research, Cro, growth, Outsourcing, ROIC, Scalability	View Pitch
Nov 29, 2025	Fund Letters	Jordan McNamee	Medpace Holdings Inc.	Health Care	Contract Research Organization	Bull	NASDAQ	Biotech, capital allocation, Cro, FCF, founder-led, growth, Margins, share repurchase	View Pitch
Nov 29, 2025	Fund Letters	Greg Dean	Medpace Holdings, Inc.	Health Care	Life Sciences Tools & Services	Bull	NASDAQ	Biotech, Cro, growth, Headcount, Outsourcing, Scalability	View Pitch
Nov 28, 2025	Fund Letters	Jordan McNamee	Medpace Holdings Inc.	Health Care	Contract Research Organization	Bull	NASDAQ	Biotech, capital allocation, Cro, FCF, founder-led, growth, Margins, share repurchase	View Pitch

BSD Shareholders of MEDP

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.

MEDP

MEDP

Letters With This Ticker

Pitches With This Ticker

BSD Shareholders of MEDP

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