MGA

MGA

MGA

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 28, 2025	Harry Qelm Baabsman	-	9.7%	ADBE, BIRD, BWA, CRM, FLNC, GOOGL, HFG.DE, LIGHT.AS, LYFT, MGA, NVDA, NXT, PUM.DE, S92.DE, SEDG, SHOP.TO, THO, VWSB.CO, ZAL.DE, ZM	AI, clean energy, Cloud, E-Commerce, Solar, technology, value, Wind	Solar equipment companies like Nextracker grew 59% since December, while SMA Solar and SolarEdge combined grew 50%. The fund sees solar as a primary energy source with rapidly increasing presence, moving from below 0.5% to 5-7% of total energy consumption and above 10% of electricity generation worldwide.	ADBE PUM GR VWSB GR NXT ZAL GR ZM CRM	View
2025 Q2	Jul 27, 2025	Hotchkis & Wiley Mid-Cap Value Fund	3.6%	-2.2%	ADNT, AIG, APA, BPOP, CFG, ERIC, FFIV, FLR, KOS, MGA, OLN, STT	energy, financials, mid cap, Trade Policy, underperformance, value	Energy continues to be the portfolio's largest sector overweight, reflecting conviction in energy stocks trading at low multiples of normalized earnings and their potential to generate strong free cash flow. The fund holds multiple energy positions including offshore exploration and production companies like Kosmos Energy and APA Corp, despite concerns about OPEC+ production increases and slowing demand.	OLN APA KOS BPOP ADNT FLR	View
2024 Q2	Jul 10, 2024	Aristotle International Equity Fund	10.5%	13.3%	1299.HK, 6367.T, 7532.T, ACN, CCO, D05.SI, MGA, MUV2.DE, NEM.DE, NVS, ROG.SW, SAF.PA, SONY	fundamentals, international, long-term, Pharmaceuticals, Quality, value	The fund made a significant portfolio change by selling Novartis and purchasing Roche, viewing Roche as a more optimal investment. Roche is positioned as a pioneer in personalized healthcare with its unique structure combining pharmaceuticals and diagnostics, offering compelling catalysts including market share gains in oncology and increased penetration of key drugs.	ROG.SW	View
2024 Q1	Apr 15, 2024	Aristotle International Equity Fund	10.5%	13.3%	1299.HK, 6326.T, 7532.T, ACN, AHT.L, BN, CCO, MC.PA, MGA, MUV2.DE, NEM.DE, ROG.SW, SAF.PA, SONY	aerospace, Asia, Europe, gaming, international, Reinsurance, value	Safran benefited from increased narrow-body air traffic above 2019 levels and aging fleet demand for service. The company's LEAP engines reduce fuel consumption and CO2 emissions, with deliveries increasing 38% in 2023. Airlines are upgrading fleets to be more efficient and environmentally friendly.	MUV2.DE SAF.PA 1299.HK 6758.T	View
2025 Q1	Mar 31, 2025	Hotchkis & Wiley Mid-Cap Value Fund	-5.6%	-5.6%	ADNT, AIG, APA, BPOP, CFG, CVS, ERIC, FFIV, FLR, KOS, MGA, OLN, SMR	energy, financials, healthcare, inflation, mid cap, Recession, tariffs, value	The portfolio trades at 6x normal earnings versus Russell Midcap Value at 16x and Russell Midcap Growth at 28x. The fund exhibits an 11% earnings yield, providing attractive valuation particularly considering broad market frothy price multiples. The manager believes fundamentals should drive the market in an environment conducive to their value investment approach.	ADNT FLR KOS FFIV CVS AIG	View
2024 Q4	Dec 31, 2024	Hotchkis & Wiley Mid-Cap Value Fund	-2.4%	3.6%	ADNT, APA, BPOP, CFG, CRGY, ERIC, FFIV, FLR, KOS, MGA, OLN, STT	energy, financials, mid cap, underperformance, valuation, value	The portfolio maintains a considerable valuation advantage relative to the benchmark, with wide spreads between growth and value indices creating promising opportunities. The manager believes valuation disparities across the market create an investment environment highly conducive to long-term focused active management.	KOS OLN ADNT	View
2025 Q3	Oct 28, 2025	Hotchkis & Wiley Mid-Cap Value Fund	7.7%	5.4%	ADNT, AIG, APA, BPOP, CFG, CNC, ERIC, FFIV, FLR, MGA, OLN, STT, WBD, WPP.L	AI, earnings, energy, mid cap, rates, value	The fund focuses on mid-cap value stocks and outperformed the Russell Midcap Value Index in Q3. The environment is becoming more selective and will likely reward discipline around both valuation and risk. Mid cap value stocks outperformed mid cap growth stocks by a wide margin (+6.2% vs. +2.8%).		View
2025 Q3	Oct 24, 2025	Pzena Focused Value strategy	0.9%	4.7%	BAX, C, CHTR, CVS, MGA, PPG, RHI, SOLV, TEL	financials, healthcare, industrials, underperformance, value	The strategy focuses on undervalued companies with characteristics for improved valuations. PPG Industries is trading at a discounted valuation due to concerns around tepid organic growth, which the manager sees as overly discounted. Solventum presented an attractive entry point due to operational challenges and margin pressure concerns.		View
2025 Q4	Jan 29, 2026	Hotchkis & Wiley Mid-Cap Value Fund	2.4%	7.9%	ADNT, AIG, APA, BPOP, BTE.TO, CFG, ERIC, FFIV, FLR, HLF, KOS, MGA, OLN	Banking, energy, financials, mid cap, multiples, oil, valuation, value	The portfolio trades at 11x forward earnings and close to 6x normal earnings, both in line with historical averages, while the broad market trades at elevated valuations with the Russell Midcap's forward P/E at nearly 21x. The fund focuses on attractively valued companies with single digit earnings multiples and strong free cash flow yields. The fund maintains notable overweight exposure to oil & gas exploration/production companies that produce free cash flow yields well into the double digits. The managers view the oil market as having structural supply constraints and believe these companies represent a rare opportunity despite temporary oversupply concerns. The portfolio has notable overweight exposure to banks that exhibit attractive valuations, particularly considering their scale advantages and healthy capital ratios. Traditional/regional banks and trust banks performed well during the quarter, helping relative performance.		View
2023 Q1	Jan 4, 2023	Vltava Fund	0.0%	0.0%	ABG, ATD, BMW.DE, BRK-B, JUNGF, MGA, MKL, NVR, QCPOF, SUS.L, WSM	Buybacks, Capital Allocation, dividends, Switzerland, Tourism, value	Share buybacks are viewed as potentially the best use of capital when executed at prices below intrinsic value, creating wealth transfer from selling shareholders to remaining ones. The manager prioritizes companies that place buying back shares at attractive prices at the top of their capital allocation considerations, with about 80% of the portfolio comprised of such companies.	JUNGN.SW CMG.TO	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
No pitches found.

BSD Shareholders of MGA

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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