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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | Sep 30, 2025 | Barometer Capital Management Inc. | - | - | AEM, AGI, AVGO, BMO CN, CLS, GOOG, HBM, LRCX, META, MS, NVDA, SAN | Copper, Energy Transition, gold, Precious Metals, uranium | The report highlights a synchronized rally in precious and industrial metals as persistent inflation, early Fed rate cuts, and geopolitical uncertainty drove renewed demand for hard assets. Gold and silver benefitted from central bank purchases and safe-haven flows, while copper, uranium, and lithium advanced on electrification, infrastructure build-out, and global energy transition policies. Barometer's positioning across bullion, miners, and commodity-linked equities is framed as both a diversification tool and a structural growth allocation tied to power demand and resource scarcity. | BMO CN |
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| 2025 Q2 | Aug 27, 2025 | Cullen Value Fund | 7.0% | 8.5% | AMAT, CI, COP, KVUE, MS, ORCL | capital returns, fundamentals, Sentiment, valuation gaps, Value Investing | The commentary stresses disciplined value investing in an environment dominated by growth narratives. Management highlights discounted valuations, improving fundamentals, and capital return potential as key drivers of future returns. The theme centers on patience as sentiment shifts away from crowded trades. | KVUE AMAT ORCL |
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| 2025 Q4 | Feb 8, 2026 | BlackRock Advantage Global Fund | 3.8% | 23.9% | AAPL, AMZN, CME, GOOGL, JPM, MS, MSFT, NVDA, PFE, TSM | global, large cap, quantitative, Sentiment, technology | Large-cap technology stocks led for much of 2025 but weakened into year-end, with more speculative names under pressure. Macro-thematic measures helped motivate successful overweight positions in U.S. and Taiwanese technology stocks. | View | |
| 2025 Q4 | Feb 23, 2026 | Barometer Capital Management Inc. | 0.0% | 0.0% | AEM.TO, BBD-B.TO, BVN, CAT, CLS.TO, CPX.TO, FTT.TO, GOOGL, HWM, K.TO, LRCX, MS, NA.TO, POW.TO, RTX, RY.TO, SAN, SE, TTWO, TVE.TO | AI, Canada, Copper, defense, energy, financials, Precious Metals, semiconductors | AI infrastructure remained a pillar of market leadership despite some consolidation in December. The market continued to distinguish between AI-enablers where demand remained strong and more cyclical parts of the chip complex, reinforcing the durability of the infrastructure buildout theme. Semiconductors exposed to AI maintained strength as semiconductor capital spending remained supported by AI-driven demand for advanced chips. Defense spending stayed elevated amid ongoing geopolitical uncertainty, supporting backlog strength and long-cycle earnings durability for aerospace and defense companies. RTX and Howmet extended gains as commercial aerospace demand remained strong and defense spending supported long-cycle revenue visibility through backlogs. Precious metals experienced renewed volatility during the quarter, with gold and silver weakening sharply into the end of October after an extended run higher. The pullback created opportunity as the manager re-engaged at lower levels when the market stabilized and the broader macro backdrop remained supportive for hard assets. Gold miners delivered strong returns throughout the year despite some weakness in final days of December. Copper prices surged into year-end amid rising demand tied to electrification, infrastructure, and data-center buildouts, alongside persistent supply constraints. This supported miners levered to the copper theme, with materials exposure contributing positively through companies like Hudbay Minerals and Rio Tinto benefiting from strength in copper and base metals. The portfolio benefited from exposure to global power demand themes, with Caterpillar continuing to benefit from robust demand in its energy & transportation business increasingly tied to expanding global power needs, particularly the build-out of AI data centers requiring reliable on-site generation capacity. Nuclear energy remained supported by structural tailwinds including rising global demand for reliable baseload power. Financials added to returns with banks demonstrating strong earnings power and shareholder return capacity. Morgan Stanley benefited from a supportive backdrop for capital markets activity and wealth management momentum, while Canadian banks continued to demonstrate resilient profitability and capital strength supporting shareholder return expectations. | TVE CN LRCX CAT |
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| 2025 Q4 | Feb 20, 2026 | Tall Oak Capital Advisors | 0.0% | 0.0% | AAPL, AEM, ANET, AVGO, BABA, CCJ, CNQ.TO, EDV, EQT, GEV, GOOGL, MELI, MRK, MS, MSFT, NRG, PAAS, PANW, PH, SHOP.TO | AI, Automation, Critical Minerals, diversification, Energy Transition, Industrial Policy, Supply Chain, technology | Industrial automation has become a strategic necessity rather than a cost optimization tool in a multipolar world. FANUC exemplifies this trend as a global leader in factory robots and CNC systems that support re-shoring and friend-shoring while maintaining productivity. The company's technology underpins manufacturing across automotive, electronics, semiconductors, and precision machinery with systems that remain in place for decades. Materials have re-emerged as strategically important rather than purely cyclical as supply chains are re-engineered and infrastructure investment accelerates. Holdings like Pan American Silver and Southern Copper provide exposure to precious metals and copper demand driven by electrification, grid expansion, electric vehicles, and data-centre infrastructure. Supply growth remains constrained by long development timelines while demand continues rising. AI-related stocks remained a key market driver with companies most directly tied to AI infrastructure and monetization delivering the strongest results. The Magnificent Seven continued to dominate markets, accounting for roughly half of the S&P 500's total return. Capital investment remained elevated with spending concentrated in data centres, semiconductors, energy infrastructure, and automation. Governments and corporations are prioritizing re-shoring and friend-shoring, placing greater emphasis on supply-chain resilience across technology, manufacturing, energy infrastructure, and critical minerals. Rather than reversing globalization, supply chains are being re-engineered around strategic alignment and political reliability. This shift is influencing how and where capital is deployed globally. The transition toward renewable energy and electrification continues to drive investment in grid expansion, energy storage, and power infrastructure. Holdings like GE Vernova benefit from rising power and infrastructure demands tied to AI and electrification. Energy has become a strategic asset to fuel the growth of AI and support industrial competitiveness through low, stable energy costs. | View | |
| 2025 Q4 | Feb 18, 2026 | Baron FinTech Fund | -2.2% | 0.9% | APO, COF, CWAN, FI, FICO, GWRE, HLI, HOOD, IBKR, INTU, JKHY, KKR, LPLA, MA, MELI, MS, NU, SCHW, SHOP, SPGI, V | AI, Banking, Capital markets, crypto, financials, Fintech, growth, technology | Capital markets are wide open with elevated levels of debt issuance, equity offerings, and M&A volumes. Falling interest rates, rising equity prices, and improving corporate confidence are driving an optimistic outlook for deals, which should benefit advisory firms, rating agencies, and alternative asset managers. The fund continues its growth approach to investing in financial and financial-related companies, including payment businesses, financial exchanges, and data providers that enable financial transactions. The common denominator across all holdings is the use of technology and data to better serve customers and grow at above-average rates. The broader software industry came under pressure due to fears of AI disintermediation. However, vertical market software vendors serving highly regulated industries are most insulated from AI risk given their deep workflow integrations and high switching costs. Morgan Stanley expects continued margin expansion from operating leverage and efficiencies from the broader usage of AI. Bitcoin fell 23.5% in the quarter, significantly underperforming nearly every major asset class. Robinhood experienced softening in customer engagement, especially in cryptocurrency trading alongside a pullback in crypto prices. The Senate is drafting legislation to create a regulatory framework for cryptocurrency that could potentially boost digital asset adoption. Falling interest rates and federal support for housing should drive a continued rebound in mortgage origination volumes, which should benefit mortgage originators and credit bureaus. FICO launched its new Direct Licensing Program for mortgage lending, which provides greater flexibility to monetize its intellectual property. | NEPT MS GWRE MELI HOOD FICO JKHY SPGI |
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| 2025 Q4 | Feb 18, 2026 | The Gabelli Dividend Growth Fund | 5.2% | 18.8% | AIG, AMZN, C, GOOG, IP, MDLZ, MRK, MS, NEM, ORCL, PNC, PRGO, SATS, WFC | AI, dividends, financials, gold, healthcare, value | AI euphoria faded in Q4 but companies in the AI ecosystem continued to deliver impressive results against high expectations. Concerns mounted around ever-increasing capex outlays and financing of sizable capex commitments. The commoditized see-saw battle among five major LLMs for next generation model leadership continues. The Fund focuses on dividend-paying stocks and benefited from M&A activity and a large position in gold miner Newmont. Despite a modestly defensive posture throughout 2025, the Fund benefited from appreciating stocks that were sized as larger positions. Gold had its best year with the price of gold benefiting the Fund's position in gold miner Newmont, which was one of the top contributors. Gold served as an inflation hedge and store of value amid macroeconomic uncertainty. | NEM MS GOOG |
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| 2025 Q4 | Feb 11, 2026 | BlackRock Core Bond Fund | 1.0% | 7.4% | EQT, GS, JPM, MS, PCG | credit, duration, Fed policy, fixed income, MBS, rates | The fund moved to an overweight duration position during the quarter, concentrated in the front and belly of the yield curve. Duration positioning detracted from performance as this portion of the curve sold off in October due to investor perceptions of a hawkish Federal Reserve. The fund built a U.S. rate-steepening bias throughout the quarter. Agency mortgage-backed securities contributed to performance as spreads continued to tighten amid strong technical support. The overweight allocation to agency MBS was increased during the quarter. The fund favored high-quality securitized assets. | View | |
| 2024 Q4 | Dec 31, 2024 | ProChain Capital | - | 63.9% | BLK, COIN, MS | - | View | ||
| 2024 Q3 | Oct 7, 2024 | Nightview Capital | 0.0% | 0.0% | AAPL, ABNB, AMZN, BLK, DKNG, GOOG, GS, H, LVS, META, MGM, MS, NFLX, QCOM, SCHW, TSLA, TSM, WYNN | - | View | ||
| 2022 Q3 | Oct 25, 2022 | Madison Dividend Income Fund | 10.1% | 9.5% | MS | - | View | ||
| 2025 Q4 | Jan 20, 2026 | Madison Dividend Income Fund | -0.2% | 8.3% | AAPL, AMZN, AVGO, BLK, CME, CVX, GOOGL, HON, JNJ, MDT, META, MS, MSFT, NEE, NVDA, TSLA, UNP, XOM | defensives, dividends, income, large cap, Quality, value | The fund focuses on high-quality, above-average dividend yield stocks with sustainable competitive advantages. Portfolio holdings increased dividends by 6% on average over the past year, well above inflation rates. The fund's absolute portfolio dividend yield of 2.53% compares favorably to 1.12% for the S&P 500. Many dividend paying companies are historically cheap compared to the broad market. The relative yield of the Dividend Income Fund was 2.25x the S&P 500 at year-end, at the very high end of historical ranges. The equal weight S&P 500 is trading at just half the valuation level of the S&P 500. The fund maintains a high-quality portfolio with strong balance sheets that could protect on the downside in a market correction. 94% of fund holdings are rated A- or better by Standard & Poor's, which compares favorably to the S&P 500 at 35% and the Russell 1000 Value at 22%. | View | |
| 2024 Q2 | Jul 17, 2024 | Nightview Capital | 0.0% | 0.0% | AAPL, AMZN, BLK, DKNG, GOOG, GS, H, LVS, META, MGM, MS, NFLX, NITE, QCOM, SCHW, TSLA, TSM, WYNN | - | View | ||
| 2022 Q4 | Mar 22, 2023 | Canterbury Tollgate | 0.0% | -26.2% | MS, TSN | - | View | ||
| 2022 Q4 | Mar 22, 2023 | Matrix Dividend Income | 0.0% | 0.0% | MS, TSN | - | View | ||
| 2022 Q4 | Mar 22, 2023 | Matrix Large Cap Value Strategy | 0.0% | 0.0% | AMZN, MS, SLB, TSN | - | View | ||
| 2024 Q4 | Jan 16, 2025 | Nightview Capital | - | - | ABNB, AMZN, BLK, DE, DKNG, GS, H, LVS, META, MGM, MS, NFLX, QCOM, SCHW, TSLA, TSMC, WYNN | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 21, 2026 | Fund Letters | Justin Bergner | Morgan Stanley | Financials | Investment Banking & Brokerage | Bull | New York Stock Exchange | asset management, Fees, ROE, scale, wealth management | View Pitch |
| Feb 21, 2026 | Fund Letters | Josh Saltman | Morgan Stanley | Financials | Investment Banking & Brokerage | Bull | New York Stock Exchange | capital return, diversification, Net Inflows, ROE, wealth management | View Pitch |
| Aug 8, 2025 | Seeking Alpha | Daniel Urbina | Morgan Stanley | Financials | Capital Markets | Bull | NYSE | — | 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. | ||||||||