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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 17, 2025 | Choice Equities Capital Management | 30.0% | 21.6% | GENI, MGNI, MOD | alpha, Concentration, conviction, fundamentals, long-term | The manager discusses a concentrated portfolio approach built around a small number of high-conviction holdings. Deep fundamental research and long holding periods are positioned as advantages in an increasingly short-term market. The fund highlights that concentration magnifies both discipline and long-term alpha potential. | MOD MGNI GENI |
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| 2025 Q1 | Apr 25, 2025 | SouthernSun Small Cap | -11.5% | -11.5% | BOOT, EPAC, EXTR, LOB, MOD, PII, TKR | - | View | ||
| 2025 Q1 | Apr 25, 2025 | SouthernSun SMID Cap | -8.8% | -8.8% | BOOT, BR, MOD, PII, USPH, WSO | - | View | ||
| 2024 Q1 | Apr 15, 2024 | Riverwater Sustainable Value Strategy | -0.6% | 7.9% | ATKR, IRDM, MOD, NYCB, QCOM | - | View | ||
| 2025 Q4 | Feb 25, 2026 | Lord Abbett Developing Growth Fund | 1.7% | 14.6% | BBIO, CELH, CRDO, CRS, FIX, GH, KTOS, LRN, MDGL, MOD, RDDT, RKLB, WGS | AI, growth, Health Care, industrials, innovation, small caps, technology | Generative artificial intelligence continues to provide markets an additional tailwind through productivity gains. Innovation is flourishing in pioneering Gen AI companies in semiconductors and software, as well as industrial companies enabling datacenter expansion and power infrastructure to support it. AI is also playing a role in the emerging defense and space technology sector. The defense and space technology sector is experiencing a positive inflection as a historically low growth area sees advancement in autonomous software and hardware systems. AI's role is particularly exciting in this emerging sector. Industrial companies are enabling datacenter expansion and power infrastructure to support the growing artificial intelligence infrastructure needs. Health Care sector contributed to relative performance, with significant allocations to precision oncology companies and pharmaceutical companies focused on specialized treatments. | View | |
| 2024 Q4 | Dec 31, 2024 | Riverwater Sustainable Value Strategy | - | - | ATKR, COOP, CPRI, DAR, EVR, EXEL, IDCC, MOD, NCMI | - | View | ||
| 2024 Q4 | Dec 31, 2024 | Alger Small Cap Focus Fund | 1.8% | 7.8% | ALAB, CDNA, MOD, NTRA, WING, XMTR | - | View | ||
| 2025 Q3 | Oct 30, 2025 | SouthernSun Small Cap | - | 8.3% | BCO, CXT, DAR, MOD, SCL | active management, Capital Allocation, industrials, Recurring Revenue, Value Investing | SouthernSun emphasized patience and valuation discipline amid divergent market conditions. The letter highlighted industrial and manufacturing opportunities, active managements importance, and disciplined capital allocation across niche-dominant businesses. The fund remains focused on recurring revenue models, financial flexibility, and long-term compounding as volatility resurfaces. | CXT SCL DAR MOD BCO CXT SCL DAR MOD BCO |
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| 2025 Q3 | Oct 30, 2025 | SouthernSun SMID Cap | - | 8.7% | BCO, CXT, DAR, MOD, WSO | Artificial Intelligence, cash flow, industrials, Quality, Value Investing | The firm underscored resilience amid cyclical shifts, citing Modine Manufacturings AI datacenter cooling exposure and Brinks strong recurring revenue. While AI investment continues to expand, SouthernSun maintains its emphasis on valuation discipline and balance sheet strength. Management noted that lower-quality speculative stocks drove near-term rallies but reiterated their conviction in durable, niche-dominant companies. | CXT WSO DAR BCO MOD CXT WSO DAR BCO MOD |
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| 2025 Q3 | Oct 24, 2025 | Artisan Global Discovery | 3.0% | 10.0% | ASC SJ, BFAM, CWAN, LSEG LN, MOD, PSN, PSTG, TDY, TEAM, WAY, WING | AI, defense, growth, healthcare, semiconductors | Equities advanced globally on AI-driven investment, easing tariffs, and broad rate cuts. The fund focuses on innovative growth companies in health care, technology, and defense with accelerating profit cycles. Managers highlight opportunities in biotech, semiconductors, and industrial automation amid evolving AI adoption and policy shifts. | WAY WING PRCT LSEG LN ASND PSTG MOD WAY TDY WING PRCT LSEG LN ASND PSTG MOD |
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| 2025 Q3 | Oct 21, 2025 | Artisan Partners Small Cap Fund | 8.7% | 4.8% | 4350 JP, ALAB, ASND, CGNX, CWAN, IBP, INSM, LOAR, LSCC, MDGL, MOD, MTSI, SN, WAY, WING | AI, Biotech, Health Care, industrials, small caps | The fund posted strong absolute but weaker relative returns as speculative small-cap stocks led markets. Managers emphasized profit-cycle investing, focusing on companies with durable growth such as Modine, Lattice Semiconductor, and Insmed. Key themes include AI-related infrastructure, biotech innovation, and cyclical recovery in housing and industrials. | OLLI CGNX MTSI TWST INSM MOD LSCC OLLI CGNX MTSI TWST INSM MOD LSCC |
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| 2025 Q3 | Oct 16, 2025 | Riverwater Partners Small Cap Strategy | - | - | BDC, CROX, DGII, HAE, IRDM, MOD, PFS, PLMR, PLPC, UEC, VSTS, WOR | Artificial Intelligence, Energy Transition, industrials, small caps, uranium | Riverwaters small-cap strategy lagged the benchmark as speculative, low-quality stocks rallied, but the fund maintains focus on quality small caps exposed to secular AI and industrial reshoring themes. AI infrastructure names like Modine and Veeco benefit from surging data center demand, while uranium and industrial firms gain from energy transition trends. The managers remain optimistic on valuation convergence between large and small caps. | PLPC BDC DGII PFS WOR MOD UEC |
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| 2024 Q4 | Jan 9, 2025 | ClearBridge Investments Small Cap Growth Strategy | - | - | CWAN, FLR, MOD, OSCR, TGTX | - | View | ||
| 2025 Q4 | Jan 27, 2026 | Artisan Global Discovery | 1.7% | 12.1% | ARGX, ASND.CO, BAB.L, BKR, BLD, CCC, COH, DUOL, FROG, FWONA, INSM, IRTC, LABS, LYV, MOD, MPWR, MTSI, PEN, PSTG, RBC, SAIL, SE, SPOT, TTAN, TXRH, TYL, VRCY, WESCO, WST, WWD | AI, Biotechnology, defense, global, growth, healthcare, SMID Cap, technology | AI-related capital spending remains an area of active debate entering 2026, with investors weighing strong industry momentum against concerns about circular financing dynamics and datacenter construction delays. The team continues to find compelling opportunities among companies positioned to benefit from AI investment strength and gain share of customers' AI spending based on superior technology that improves datacenter performance and efficiency. Healthcare returned as a source of market strength, with the team maintaining relatively high exposure despite several years of industry headwinds. Strong conviction in profit cycle opportunities for biotech companies, with several franchises delivering strong results as product launches gained momentum and investor sentiment toward the sector improved. Aerospace and defense holdings appear well positioned for multiyear growth, with companies capitalizing on rising global defense spending. Commercial aerospace suppliers are positioned to benefit from significant content gains in new planes and growth in recurring aftermarket sales for many years. Several portfolio companies benefit directly from AI-related capital spending, with strong demand from datacenter customers as capacity is added to support high-density computing environments. Companies are seeing increased activity within datacenter-related electrical and communications businesses. | MTSI IRTC IOT NEM GR TTAN SAIL BLD TXRH BAB LN SPOT SE FROG INSM COHR |
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| 2025 Q4 | Jan 27, 2026 | The Osterweis Opportunity Fund | 3.3% | 0.3% | AX, BIRK, CAVA, CECO, CWST, FSV, GH, GWRE, LSCC, LTH, MOD, MTSI, NOVT, SITM, TREX, TTAN, WAY | AI, Biotech, Fintech, growth, healthcare, semiconductors, small cap, technology | AI was identified as one of the big investment themes driving 2025 returns, with the AI boom propelling many indices to all-time highs. SiTime Corp benefited from 115% growth in its data center segment reflecting surging demand from AI applications. The manager published a piece discussing AI as one of their top five secular trends for the near-to-medium term. The portfolio had strong performance from semiconductor investments including MACOM and SiTime. MACOM delivered strong Q4 results with 30% revenue growth, serving telecommunications, data center, defense, and industrial markets. SiTime revolutionized timing devices with MEMS-based silicon solutions and saw 45% growth driven by AI applications in data centers. Chime was highlighted as a leading online bank and top contributor in the Financial sector. The company's cost-effective, mobile-first, cloud-native infrastructure allows it to serve underbanked populations with free banking services. Revenue continues to increase above 30% annually with profit margins above 65%, and the manager believes Chime can triple its revenue per customer over the next five years. Guardant Health, a provider of blood-based diagnostic tests for cancer, was a significant contributor with strong Q3 results. The core oncology business grew revenues 30% with acceleration driven by innovative product enhancements. The company continues to lead the charge in converting oncology testing from tissue to blood, representing a major shift in cancer diagnostics. Flying taxis were mentioned as one of the speculative investment themes that drove 2025 returns, though the manager deliberately avoided these speculative companies. Drones were also identified as one of the top five secular trends for the near-to-medium term in the manager's recent publication. Robotics was identified as one of the manager's top five secular trends for the near-to-medium term. This represents an area of focus for finding category leaders before they become widely discovered, though specific robotics investments were not detailed in this letter. | View | |
| 2025 Q4 | Jan 21, 2026 | Artisan Partners Small Cap Fund | 3.4% | 8.6% | BRKR, CLBT, COCO, FLEX, GH, GWRE, HXL, INSM, IRTC, ITGR, LASR, LSCC, MOD, MTSI, PCOR, PEN, PSN, SN, STVN, VSEC | AI, Biotechnology, defense, growth, healthcare, profit cycles, small cap, technology | AI-related capital spending remains an area of active debate entering 2026. Investors continue to weigh strong industry momentum against concerns about circular financing dynamics and data center construction delays. The team finds compelling opportunities among companies positioned to benefit from AI investment strength and gain share of customers' AI spending based on superior technology. Aerospace and defense holdings appear well positioned for multiyear growth. The team believes commercial aerospace suppliers are positioned to benefit for many years from significant content gains in new aircraft and growth in recurring aftermarket sales. Defense-related investments include companies with strong franchises in non-kinetic laser weapons and critical technologies. Healthcare returned as a source of market strength during the quarter. The team maintains relatively high exposure to the sector despite several years of industry headwinds, grounded in conviction in profit cycle opportunities for biotechnology companies. Many biotechnology franchises are early in what the team believes are some of the most compelling product launch cycles of their careers. The team continues to find compelling opportunities among semiconductor companies positioned to benefit from AI investment strength and gain share of customers' AI spending based on superior technology that improves data center performance and efficiency. These investments are managed with valuation discipline consistent with the team's process. | GWRE PSN STVN COCO INSM MTSI |
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| 2025 Q4 | Jan 14, 2026 | Riverwater Partners Small Cap Strategy | 0.0% | 0.0% | ADEA, AMD, ATMU, ATRC, BHST, BKH, CNX, DIS, HSTM, ITGR, KGS, LEU, LMNR, LOPE, MOD, NPKI, PLMR, STKL, VECO, WRBY | AI, financials, healthcare, infrastructure, Natural Gas, nuclear, Quality, small caps | Natural gas stocks benefited from AI theme as potential winners in powering data centers. CNX Resources was the top contributor driven by weather-related price increases and strong company execution. The manager remains encouraged by structural demand drivers for natural gas supporting higher volumes over time. Centrus Energy was positioned at the nexus of U.S. national security, nuclear energy independence, and next-generation reactor deployment. The company benefited from structural shift away from Russian nuclear fuel supply toward domestic enrichment, with rising demand from advanced reactors, SMRs, and nuclear power supporting AI-driven data center load growth. NPK International was added as a way to participate in multi-year infrastructure buildout required to support grid expansion, electrification, and energy system upgrades. The company provides composite matting solutions for utility and energy-related end markets with advantages over traditional timber mats. The manager avoided speculative AI investments but played the theme through picks-and-shovels approach via semicap equipment and utility infrastructure buildout. Natural gas stocks benefited as potential winners in powering data centers. Warby Parker has a call option on smart glasses and AI-enabled eyewear through its partnership with Google. | ITGR HSTM WRBY ADEA NPKI KGS BHST LMNR LOPE LEU CNX |
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| 2024 Q3 | Sep 30, 2024 | Alger Small Cap Focus Fund | 6.4% | 5.9% | ATEC, CDNA, MOD, PRO, WFRD | - | View | ||
| 2024 Q4 | Jan 14, 2025 | Liberty Park Capital Management | 5.9% | 8.6% | CGNX, GTLS, HQI, INOD, INOQ, LWLG, MOD, NVEE, SOUN, THRY, UPWK, XMTR, YOU | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 4, 2026 | Twitter / X | @EricJhonsa | Modine Manufacturing Company | Building Products | Building Products | Bull | New York Stock Exchange | AIInfrastructure, Chillers, Cooling, datacenters, FacilityEquipment, HeatDissipation, HVAC, LiquidCooling, ThermalManagement | View Pitch |
| Dec 5, 2025 | Fund Letters | Mitchell Scott | Modine Manufacturing Company | Consumer Discretionary | Building Products | Bull | NYSE | Cooling, growth, Margins, transformation, valuation | View Pitch |
| Nov 29, 2025 | Fund Letters | Adam Peck | Modine Manufacturing Co. | Consumer Discretionary | Industrial Machinery | Bull | NYSE | AI, data centers, growth, manufacturing, semiconductors, thermal management | View Pitch |
| Nov 29, 2025 | Fund Letters | Craigh Cepukenas | Modine Manufacturing Co. | Consumer Discretionary | Electrical Components & Equipment | Bull | NYSE | Capacity, Cooling, data centers, hyperscale, Revenue upgrade, secular growth | View Pitch |
| Nov 29, 2025 | Fund Letters | Jason L. White | Modine Manufacturing Co. | Consumer Discretionary | Electrical Components & Equipment | Bull | NYSE | AI infrastructure, Capacity growth, hyperscale, margin expansion, secular tailwinds, thermal management | View Pitch |
| Nov 29, 2025 | Fund Letters | Michael Cook | Modine Manufacturing Co. | Consumer Discretionary | Building Products & Equipment | Bull | NYSE | AI, capacity expansion, capital discipline, Cooling, datacenter, EBITDA | View Pitch |
| Nov 29, 2025 | Fund Letters | Michael Cook | Modine Manufacturing Company | Consumer Discretionary | Electrical Components & Equipment | Bull | NYSE | AI, cash flow, data centers, growth, leadership, Margins, Reinvestment, thermal management | View Pitch |
| Nov 29, 2025 | Fund Letters | Craigh Cepukenas | Modine Manufacturing Co. | Consumer Discretionary | Electrical Components & Equipment | Bull | NYSE | Capacity, Cooling, data centers, hyperscale, Revenue upgrade, secular growth | View Pitch |
| Nov 28, 2025 | Fund Letters | Jason L. White | Modine Manufacturing Co. | Consumer Discretionary | Electrical Components & Equipment | Bull | NYSE | AI infrastructure, Capacity growth, hyperscale, margin expansion, secular tailwinds, thermal management | View Pitch |
| Nov 28, 2025 | Fund Letters | Michael Cook | Modine Manufacturing Co. | Consumer Discretionary | Building Products & Equipment | Bull | NYSE | AI, capacity expansion, capital discipline, Cooling, datacenter, EBITDA | View Pitch |
| Nov 28, 2025 | Fund Letters | Michael Cook | Modine Manufacturing Company | Consumer Discretionary | Electrical Components & Equipment | Bull | NYSE | AI, cash flow, data centers, growth, leadership, Margins, Reinvestment, thermal management | 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. | ||||||||