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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q3 | Sep 30, 2024 | Antero Peak Group | 7.0% | 28.3% | AAPL, CEG, CP, DHR, ENR.DE, EQIX, GE, ISRG, LIN, LLY, MCO, META, MSFT, MSI, MTD, NDAQ, SAF.PA, SPGI, SPOT, TDG | aerospace, AI, energy, growth, industrials, nuclear, technology | AI is driving structural acceleration in data monetization and enterprise transformation. Machine learning, AI, and cloud are causing the economic value of data to structurally accelerate through new products and applications. Digital transformation represents a paradigm shift with major inflection demand for companies enabling transformation through software, services, and AI. | View | |
| 2024 Q3 | Sep 29, 2024 | Andrew Hill Investment Advisors | - | - | AAPL, AMZN, AXON, CEG, CMG, EQT, GEV, HIW, ISRG, LLY, MSFT, MSI, NEE, NVDA, UTHR | AI, Energy Transition, Rate Cuts, real estate, technology, Utilities | Due to increasing power needs driven by Artificial Intelligence, utility stocks saw the greatest appreciation during the quarter. AHIA identified this trend early and favored the utility sector with positions in companies providing carbon-free reliable electricity. The firm sees continued room for appreciation as lower rates benefit these sectors. | UTHR ISRG AXON MSI CMG LLY HIW NEE GEV CEG |
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| 2025 Q2 | Jul 18, 2025 | Mairs & Power – Balanced Fund | - | 2.7% | ABT, AMZN, ENTG, FI, FUL, GOOG, HON, JNJ, JPM, MDT, MSI, NEOG, PFG, TECH, TGT, TXN, UNH, USB, WEC, WFC | AI, Balanced, financials, healthcare, long-term, technology, Utilities, value | AI-related stocks have driven 75% of market returns since ChatGPT launch, with 40% of capital expenditures linked to AI. The Fund lacks exposure to mega-cap AI leaders but sees durable momentum in AI infrastructure including data centers, power generation, and components. | WEC AMZN FI UNH |
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| 2023 Q2 | Jul 17, 2023 | Kovitz Core Equity | 8.4% | 18.3% | AAPL, DEO, DLTR, GDDY, JPM, KEYS, MSI, SCHW | Banking, Beverages, long-term, Quality, retail, technology, value | Kovitz emphasizes investing like a private owner with dual focus on business quality and margin of safety. The firm seeks companies with sustainable competitive advantages available at attractive valuations, waiting for the valuation gap between perception and reality to close over time. | DLTR SCHW DEO |
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| 2025 Q2 | Jul 15, 2025 | Kovitz Core Equity | 7.9% | 5.4% | ADI, AHT.L, AMZN, BDX, DLTR, FI, FND, HAS, ICE, J, META, MSFT, MSI, ORCL, PM, SCHW, TMO, UMG.AS, V | Cloud, financials, healthcare, tariffs, technology, value | AI sentiment turned negative in Q1 but quickly positive in Q2, with Information Technology sector accounting for 65% of S&P500 returns. The AI theme continues to drive significant market volatility and performance. | FND ADI TMO FI BDX META MSFT ORCL |
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| 2025 Q2 | Jul 14, 2025 | Wedgewood Partners | 7.1% | 0.3% | AAPL, BKNG, CDW, CPRT, EW, GOOGL, IDXX, META, MSFT, MSI, ORLY, TSCO, TSM, UNH, URI, V, ZTS | AI, Bull Market, growth, healthcare, large cap, tariffs, technology, Valuations | Meta Platforms has been a consistent beneficiary of artificial intelligence over the past several years, investing aggressively in deep learning recommendation systems that help power its products. Meta's AI investments, combined with its massive scale, allow the Company to quickly spin up new products across its digital advertising real estate to reinforce its competitive positioning. Microsoft showed key acceleration in its Azure cloud infrastructure business, driven by demand for AI-compute capacity. | View | |
| 2024 Q2 | Jun 30, 2025 | Barometer Capital Management | - | - | AGI.TO, AVGO, CNQ.TO, COP, COST, CS.TO, DIS, DOL.TO, EFN.TO, ETN, K, L.TO, LLY, MSFT, MSI, NVDA, QSR.TO, RIO, TRI.TO, VLO, VMC | AI, Canada, Consumer Staples, energy, healthcare, materials, technology | The firm continues to benefit from exposure to generative AI proliferation through NVIDIA, Broadcom, and Microsoft. NVIDIA remains the supplier of choice for GPUs used for AI development with explosive growth. Broadcom serves as the trusted partner for companies developing custom chips for AI. Thomson Reuters emerges as an AI darling in Canada, integrating AI into their legal and tax accounting business. | View | |
| 2025 Q1 | Jun 30, 2025 | Antero Peak Group | -1.9% | -1.9% | ADI, APO, AXON, CCI, CEG, CME, ENEN.DE, EQIX, GE, HWM, ISRG, KKR, KMI, LIN, LLY, MCO, MSFT, MSI, NDAQ, NVDA, PRMB, RR.L, SAF.PA, SPGI, TDG, TSM, VST, WMB | aerospace, AI, alpha, earnings, energy, growth, large cap, technology | Aerospace normalization theme was a strong contributor in Q1 with General Electric continuing clean execution as a pure play aerospace engine maker and Rolls-Royce seeing positive upward revisions. The team sees aerospace cyclically inflecting ahead of a long duration upcycle supported by secular growth of the global middle class. | View | |
| 2024 Q2 | Jun 30, 2024 | Antero Peak Group | 3.9% | 20.1% | AAPL, AMT, AMZN, AVGO, CP, ETN, GE, GEV, GS, HUBS, ISRG, LLY, MSFT, MSI, NVDA, SAF.PA, SPOT, TDG, TSM, V | aerospace, AI, fundamentals, growth, healthcare, large cap, semiconductors, technology | Generative AI investment universe spans multiple phases from compute and infrastructure to applications. The team sees AI as driving transformation across semiconductors, data centers, and enterprise software. AI proliferation is creating opportunities in robotic surgery with DaVinci 5's 10,000x improvement in computing power. | View | |
| 2025 Q2 | Jun 26, 2025 | Andrew Hill Investment Advisors | - | - | AAPL, AMSC, CEG, DUK, EQT, GE, GRMN, HASI, JPM, MSFT, MSI, NFLX, NVDA, OKE, PGR, SFM, TMO, UBER, VRTX, YETI | AI, Bonds, energy, gold, healthcare, Stablecoins, tariffs, technology | AI infrastructure investment remains strong despite global conflicts and political policies. Approximately one-third of equity holdings are directly involved in AI infrastructure build-out spanning technology, communications, finance, and utilities. AI holdings have largely driven strong equity returns over the past few years, modestly outperforming the S&P 500 in 2025. | View | |
| 2024 Q1 | May 28, 2024 | Bridgewater Associates | 0.0% | 0.0% | AMT, CAT, ETN, FUN, GE, GOOGL, HA, HCA, HON, KO, MAT, MCD, META, MONDEE, MSI, NEE, PFGC, PG, TXRH, WLDN | AI, Capex, Corporate Spending, earnings, Energy Transition, Labor Markets, profitability | The AI build-out is a key tailwind for capex spending during this cycle, with companies across tech and industrials investing in compute capacity and infrastructure. Tech companies like Meta and Alphabet are investing significantly in AI infrastructure, while industrials are responding to growing demand for data centers and electricity driven by AI innovation. | View | |
| 2026 Q1 | May 1, 2026 | Aristotle Value Equity Fund | -2.2% | -2.2% | CVX, MKC, MSFT, MSI, QCOM, TTE, VZ | Consumer Staples, dividends, energy, large cap, semiconductors, technology, Telecommunications, value | MSI CVX QCOM MSFT VZ TTE |
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| 2025 Q1 | May 1, 2025 | Mairs & Power – Balanced Fund | 0.0% | 0.0% | ABT, DIS, FIS, FUL, GOOG, HD, LFUS, MDT, MSI, QCOM, RHHBY, TECH, TTC, TXN, V, WEC | balanced fund, Defensive, healthcare, inflation, technology, Trade Policy, Utilities, value | Tariff uncertainty in March caused equity declines while benefiting fixed income through flight to safety. Prospects of prolonged trade war with China raise concerns about reigniting inflation and slowing economic growth. Tariffs function as a tax that businesses must absorb or pass to consumers, likely creating upward pressure on prices and inflation. | View | |
| 2026 Q1 | Apr 6, 2026 | Wedgewood Partners | -6.3% | -6.3% | AMZN, BKNG, CB, CDW, CPRT, GOOGL, META, MSFT, MSI, ODFL, ORLY, PGR, PYPL, TOL, TSCO, TSM, UNH, V | AI, energy, geopolitics, growth, large cap, oil, semiconductors, technology | V GOOGL META BKNG MSFT ORLY CB MSI ODFL TSM |
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| 2023 Q1 | Apr 5, 2023 | Infuse Partners | 10.1% | 10.1% | AAPL, ABNB, AMZN, AXON, COST, CRM, CSU.TO, DDOG, HCC, INSP, LSPD.TO, LYFT, META, MO, MSI, ORCL, RUN, TDG, TDOC, TSM, UBER | Founder, growth, Quality, technology, value | Manager outlines comprehensive 12-point quality checklist for evaluating businesses, emphasizing founder-led companies, competitive advantages, recurring revenue, and financial strength. Quality assessment is central to the investment process, combined with growth and valuation metrics to create the portfolio. | AXON |
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| 2026 Q1 | Apr 29, 2026 | Mairs & Power - Growth Fund | -3.8% | -3.8% | AMP, ENTG, FAST, LFUS, MSFT, MSI, NVT, SFM, TTC, WM | AI, Data centers, energy, Geopolitical, industrials, materials, technology, value | WM AMP SFM |
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| 2026 Q1 | Apr 29, 2026 | Artisan Global Discovery | -5.5% | -5.5% | ASMI, ASND, COHR, COMP, HTHT, INSM, MDB, MOD, MSI, PRS, RBC, RBLX, SE, SPOT, TWST, WING | AI, Biotechnology, Data centers, defense, energy, global, mid cap, small cap | View | ||
| 2024 Q4 | Dec 31, 2024 | Mairs & Power – Balanced Fund | - | 9.6% | AMP, AVGO, AXP, CASY, FISV, GGG, JPM, LFUS, LLY, MDT, MSI, NEOG, NTRS, NVDA, PG, ROK, TTC, UNH, UPS, WFC | AI, Balanced, financials, healthcare, industrials, semiconductors, small caps, technology | The fund acknowledges AI as a key driver of mega cap technology performance in 2024, though their diversified approach left them underexposed to this narrow leadership group. UnitedHealth is aggressively deploying AI technology across its business to create enduring operating efficiencies. JPMorgan has been investing heavily in AI deployment across its businesses, positioning it well for outsized earnings growth compared to peers. | View | |
| 2024 Q4 | Dec 31, 2024 | Mairs & Power - Growth Fund | - | 19.6% | AAPL, AMZN, AVGO, CLFD, CRM, FI, FUL, GGG, GOOGL, JPM, LFUS, META, MSFT, MSI, NVDA, RHHBY, TECH, TSLA, TTC, UNH | AI, Housing, long-term, Regional, small caps, technology, value | AI remains in the forefront of investors' minds and the fund believes AI will have a profound impact on the economy and society. The fund is well-positioned to benefit from this emerging technology through enablers like NVIDIA and Microsoft, application software vendors, and adopters across various industries. AI's practical application is a key item being monitored with all investments to determine competitive landscape shifts. | NVDA MSFT CLFD |
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| 2024 Q4 | Dec 31, 2024 | Barometer Capital Management | - | - | AAPL, ATRL.TO, AXON, BWXT, CAT, CCO.TO, CM.TO, FFH.TO, GS, HWM, IBIT, JPM, L.TO, MSI, NEE, NVDA, NVS, REGN, TECK-B.TO, V | AI, banks, Deregulation, financials, industrials, nuclear, technology | AI continued to influence markets with focus shifting to future power demand growth as datacenter build-out requires substantial energy investments. Axon Enterprise's AI products allow police officers to automate report writing, freeing up time for more policing, with police departments increasingly eager to implement this high-margin software. | ATRL HWM AXON |
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| 2024 Q4 | Dec 31, 2024 | Orbis Global Equity | - | - | CPAY, GXO, HWM, IBKR, MSFT, MSI, NVDA, QXO, RXO, V, XPO | aerospace, CEO, Concentration, payments, Quality, US, value | The fund focuses on investing alongside top 1% CEOs with meaningful ownership stakes who can drive extraordinary shareholder value creation. Examples include John Plant at Howmet Aerospace and Ron Clarke at Corpay, who have delivered exceptional long-term results through operational excellence and capital allocation discipline. | CPAY HWM |
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| 2025 Q3 | Dec 2, 2025 | Atai Capital Management | 10.7% | 43.3% | ALOT, BELFA, BKTI, MSI, TP | concentrated, defense, Microcap, small caps, technology, value | Atai Capital operates a concentrated Micro and Small-Cap strategy with 58% of portfolio consisting of businesses with market caps below $500M. The manager acknowledges this strategy will naturally diverge from market indexes and anticipates periods of both outperformance and underperformance. | View | |
| 2023 Q3 | Dec 10, 2023 | Wedgewood Partners | 5.8% | 22.4% | AAPL, BKNG, CDW, EW, GOOGL, META, MSI, ODFL, ORLY, PYPL, TPG, TSM | AI, Auto Aftermarket, Fed policy, growth, interest rates, large cap, technology, Travel | O'Reilly Automotive represents the aftermarket auto parts industry which benefits from higher car financing costs forcing owners to keep cars longer, increasing maintenance needs. The industry remains fragmented with growth opportunities, particularly in the do-it-for-me segment where O'Reilly excels through its distribution network. | AVGO|BYD|CRWD|MELI|MSFT|NFLX|NVDA|NVO|ORLY|SPOT |
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| 2025 Q3 | Oct 24, 2025 | Mairs & Power – Balanced Fund | - | 6.5% | ABT, AMZN, ENTG, FI, FUL, GOOG, HON, JNJ, JPM, MDT, MSI, NEOG, PFG, TECH, TGT, TXN, UNH, USB, WEC, WFC | AI, Balanced, financials, healthcare, technology, underperformance, Utilities, value | AI-related stocks have dominated market performance since ChatGPT's 2022 launch, with 40 AI-related S&P 500 stocks accounting for 75% of market returns. The AI and data-center buildout is fueling a multi-year capital expenditure cycle extending beyond semiconductors to power generation, transmission, and thermal management components. However, the Fund largely lacks exposure to these high-performing AI companies, contributing to underperformance. | View | |
| 2025 Q3 | Oct 19, 2025 | EdgePoint Global | - | - | 6702.T, AAPL, ALFA.ST, AME, AMG, AMS.PA, AMZN, APO, ATD.TO, AVGO, BAC, BAES.L, BERY, BKNG, BN.TO, CFR.SW, CSX, ELV, FFH.TO, FLS, FNV.TO, GIB.A.TO, GOOGL, ICE, JLL, LECO, MAT, META, MIDD, MMC, MSFT, MSI, NFLX, NSC, NVDA, PEY.TO, PM, PSMT, QCOM, QSR, RBA.TO, ROST, SAF.PA, SAP, TEL, TSM, UNVR, VRTX | active management, AI, Concentration, global, Quality, technology, value | Artificial intelligence represents a transformative technology creating a bubble in large U.S. tech companies. The enthusiasm has fueled concentration in the Mag 6 companies, but history shows early winners are difficult to identify and competition eventually erodes returns. | Franco-Nevada Corporation Mattel Inc. SAP SE TE Connectivity plc AMA SM |
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| 2024 Q3 | Oct 16, 2024 | Wedgewood Partners | 5.8% | 22.4% | AAPL, BRK-B, CDW, CPRT, EW, GOOGL, META, MSFT, MSI, PYPL, UNH | Fed policy, growth, healthcare, large cap, technology, value | Meta has been a consistent beneficiary of artificial intelligence over the past several years, investing aggressively behind deep learning recommendation systems. Meta's AI investments, combined with its massive scale, allow the Company to quickly spin up new products across its digital advertising real estate. Apple is well situated to develop a suite of compelling, consumer-friendly AI services given its proprietary semiconductor development and the compute-intensive nature of AI applications. | MSI UNH META PYPL |
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| 2022 Q3 | Oct 10, 2022 | Wedgewood Partners | 5.8% | 22.4% | AAPL, CPRT, EW, FB2A, GOOG, MSI, PYPL, TPL, TSM, V | - | View | ||
| 2025 Q4 | Jan 21, 2026 | Renaissance Investment Management – Large Cap Growth | 0.0% | 0.0% | AMAT, BRO, BSX, CAH, FISV, FIX, GOOGL, LRCX, MSI, NFLX, NTNX, PEGA, RCL, SCHW, TPR, UBER, WM | AI, Equal Weight, growth, large cap, Mega Cap, semiconductors, technology, valuation | AI remains a key driver with mega-cap technology stocks leading market performance. Alphabet released Gemini 3 with performance exceeding expectations, making it the top-performing AI model, and unveiled new Tensor Processing Units for lower-cost AI computations. Applied Materials benefits from strong demand for AI semiconductor chipsets. Semiconductor equipment companies like Lam Research and Applied Materials are benefiting from secular tailwinds including transition to larger chip sizes and increased complexity in chip manufacturing to accommodate AI applications. The CHIPS Act provides federal stimulus supporting the sector. Market valuations have risen significantly with the cap-weighted S&P 500 P/E rising almost 60% over three years versus 30% for equal-weighted. The extreme valuation difference between mega-cap and equal-weighted stocks suggests better relative performance going forward from equal-weighted strategies. | NFLX AMAT GOOG |
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| 2025 Q4 | Jan 18, 2026 | Mairs & Power – Balanced Fund | 0.0% | 6.6% | AMZN, CASY, ENTG, FI, GOOG, HD, HON, HRL, JPM, LLY, MSI, NEOG, PFG, RHHBY, ROK, TECH, TGT, TRV, TXN, UNH, USB, WEC, WFC | AI, Balanced, earnings, financials, healthcare, rates, technology | 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 Fund believes we are entering a transition period for AI, moving into a higher risk phase with flood of capital and unusual financing structures. The consistency of corporate earnings is a major reason for continued stock market strength. The S&P 500 is projected to deliver 12% earnings growth in 2025, while small cap companies are showing their first signs of earnings growth recovery after three years of contraction, posting 13% growth in 2025. The Federal Reserve began cutting rates in the fourth quarter with cooling inflation giving policymakers confidence. Lower interest rates are expected to continue into 2026, which typically takes around a year to feel effects through the economy and would likely support small business hiring and consumer confidence. | View | |
| 2025 Q4 | Jan 18, 2026 | Mairs & Power - Growth Fund | 2.7% | 10.5% | FI, HRL, ISRG, JPM, MSFT, MSI, NVDA, NVT, RHHBY, TECH, UNH, ZTS | AI, growth, healthcare, large cap, technology, valuation | AI and increasing market concentration took center stage in 2025, driving market narrative with valuations pushing higher and corporate spending accelerating. The fund believes we are entering a transition period for AI with signals the cycle is moving into a higher risk phase given the flood of capital and unusual financing structures. AI-related companies continue to command premium valuations while other sectors remain reasonably priced. This valuation divide continues to guide investment activity, with the fund remaining wary of companies trading at exceedingly high valuations that imply exceptional multi-year earnings growth. The fund added Zoetis focusing on animal health pharmaceuticals with AI integration in R&D processes, and Intuitive Surgical leveraging AI to enhance robotic surgical systems. Both companies represent opportunities to harness AI for long-term competitive advantages in healthcare. | View | |
| 2025 Q4 | Jan 14, 2026 | Wedgewood Partners | -1.8% | 4.3% | AAPL, AMZN, BKNG, CB, CDW, CPRT, EW, GOOGL, META, MSI, ODFL, ORLY, POOL, PYPL, SPGI, TSCO, TSM, UNH, URI, V | AI, growth, large cap, Portfolio Management, Quality, technology, valuation | AI continues to drive significant revenue growth across portfolio companies. Google Cloud processes 1.3 quadrillion AI tokens per month, more than double from just a few quarters ago. Meta has been using AI tools for over a decade to manage their massive network, with their Andromeda machine learning system automatically retrieving and ranking tens of millions of potential ads based on user preferences. Taiwan Semiconductor Manufacturing continues to execute flawlessly on leading-edge node progression and capacity build-out, enabling the AI era by manufacturing nearly every compute accelerator including GPUs. The company's advanced nodes allow accelerator designers greater flexibility to increase performance while limiting power requirements in an increasingly power-constrained compute infrastructure industry. Google Cloud segment revenue and backlog growth accelerated, driven by AI workloads. Amazon's AWS has fostered some of the largest businesses in the world over the past 20 years, with revenue growth accelerating to over 20% as the company deployed almost 4 gigawatts of capacity for AI-workloads over the past 12 months. The manager expresses significant concern about excessive market valuations, noting that more than 30% of US market capitalization now trades above 10x sales, reminiscent of the tech bubble. The crowded AI trade and historically rich valuations are described as haunting prudent investing, with even most non-Magnificent Seven stocks failing to offer bargains. The manager has trafficked in quality stocks for more than 33 years, an approach that has served clients well since 1992 but did not work in 2025. The portfolio's fundamentals, prospective earnings growth rates, profitability measures, and balance sheet strength are notably superior to the S&P 500 Index and on par with the Russell 1000 Growth Index. | PYPL TSCO URI MSI META EW ODFL AAPL TSM GOOG CB AMZN |
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| 2025 Q4 | Jan 12, 2026 | Munro Global Growth Fund | -0.7% | 12.2% | 300750.SZ, AMZN, CEG, CIEN, CRH, GALDA.SW, GEV, GOOGL, MA, MSFT, MSI, NVDA, ORCL, RHM.DE, TSM, UBER, VRT | AI, Cloud, Data centers, global, growth, semiconductors, technology | AI continues to drive significant investment opportunities with Alphabet's Gemini 3 model leap-frogging competitors and validating custom chip investments. The AI scaling laws are hitting physical power constraints, requiring distributed data center solutions that benefit networking infrastructure providers like Ciena. Data center infrastructure is experiencing unprecedented demand driven by AI workloads requiring massive compute power. Hyperscalers are scaling across multiple locations due to power constraints, creating opportunities for networking and infrastructure providers. Google Cloud demonstrated strong momentum with a record $50 billion sequential increase in backlog to $158 billion, driven by unique TPU offerings and AI workload demand. Cloud providers are differentiating through custom silicon and AI-optimized infrastructure. TSMC continues benefiting from compute demand and plays a critical role in chip manufacturing regardless of whether hyperscalers use Nvidia products or custom solutions. The semiconductor cycle remains supported by AI infrastructure buildout. | CIEN GOOGL |
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| 2022 Q4 | Jan 1, 2023 | Kovitz Core Equity | 5.3% | -22.6% | AMZN, CHTR, KMX, LOW, LVS, MSI | - | View | ||
| 2024 Q3 | Sep 30, 2024 | Mairs & Power - Growth Fund | 0.0% | 19.0% | AAPL, FI, GOOGL, JPM, KHC, LFUS, MSI, NVDA, ROK, TTC, UNH, WK | AI, healthcare, industrials, interest rates, small caps, technology, Valuations | More than 40% of S&P 500 companies cited AI in Q2 earnings calls. The fund remains excited about AI prospects but has been trimming positions due to lofty valuations. UnitedHealth Group is working on multiple AI use cases that could save billions in efficiencies, including call center automation. | KHC TTC UNH |
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| 2024 Q3 | Sep 30, 2024 | Mairs & Power – Balanced Fund | 0.0% | 11.0% | ABT, AMP, CASY, CHRW, ECL, FI, HRL, HSY, JPM, LFUS, LLY, LOW, MSI, NEOG, NVDA, PG, ROK, TECH, TTC, UPS | Balanced, Bonds, consumer, healthcare, industrials, rates, technology | The Federal Reserve cut its key lending rate by half a percentage point in September, with potential for additional cuts in November and December. Lower rates are expected to benefit smaller companies by reducing borrowing costs and improving earnings growth prospects. | View | |
| 2023 Q3 | Sep 30, 2023 | Mairs & Power – Balanced Fund | 0.0% | 11.0% | ABT, CRM, ECL, ENTG, GGG, GOOGL, HON, HRL, LLY, MSFT, MSI, TECH, TTC, TXN, USB, XEL | AI, Balanced, fixed income, growth, inflation, rates, technology, value | Artificial intelligence is creating efficiencies and driving investment opportunities, particularly in technology companies. The fund sees AI as crucial for creating workforce efficiencies amid changing labor dynamics. Microsoft's leadership in AI helped propel it to all-time highs this year. | View | |
| 2024 Q2 | Jul 15, 2024 | Wedgewood Partners | 5.8% | 22.4% | AAPL, BKNG, CDW, GOOGL, META, MSI, ODFL, POOL, PYPL, TSM, V | AI, Cloud, Concentration, growth, large cap, semiconductors, technology | Apple unveiled Apple Intelligence at WWDC, rebranding AI as Apple Intelligence. The company has been developing AI capabilities for years through custom silicon and neural processing units. Apple's vertically integrated approach positions it well for AI applications, though the rollout will be modest initially. | View | |
| 2024 Q2 | Jun 30, 2024 | ClearBridge Investments Large Cap Value | 0.0% | 0.0% | APD, BAC, CHTR, COP, CVS, GOOGL, INTC, MCK, MSI, NESN.SW, SHW, SRE, TRV, UPS, XPO | AI, financials, healthcare, industrials, large cap, technology, value | The massive ramp up in AI spending has crowded out spending in other technology verticals, creating a market where AI winners enjoy strong multiple expansion while perceived AI losers are severely punished. The divergence in valuations between perceived AI winners and losers has created attractive opportunities where high-quality companies are being underappreciated. | View | |
| 2023 Q2 | Jun 30, 2023 | Barometer Capital Management | - | - | AGI.TO, AVGO, CNQ.TO, COST, CS.TO, DIS, DOL.TO, EFN.TO, ETN, K, L.TO, LLY, MSFT, MSI, NVDA, QSR.TO, RIO, TRI.TO, VLO, VMC | AI, Canada, Consumer Staples, energy, healthcare, materials, Tactical, technology | NVIDIA and Broadcom continued to deliver excellent performance as investors demonstrated voracious appetite for any stocks with generative AI exposure. NVIDIA's explosive growth demonstrated both the strength of demand for generative AI hardware and a more robust supply picture. Thomson Reuters has emerged as an AI darling in Canada as the company continues to seek ways to integrate AI product offerings to help their clients drive efficiencies. | View | |
| 2023 Q1 | May 23, 2023 | ClearBridge Investments Large Cap Value | 0.0% | 0.0% | AXP, BAC, BDX, COP, CVX, DISH, ELV, GOOGL, HON, JNJ, JPM, MCK, META, MSFT, MSI, PGR, SCHW, TEL, UNH, USB | Banking, financials, healthcare, large cap, Quality, technology, value | The banking crisis in March highlighted risks in less diversified banks with concentrated deposit bases. The strategy's bias toward larger banks with strong deposit bases provided defensive positioning during the selloff. | MCK ADI|BDX|FI|FND|HAS|META|MSFT|MSI|ORCL|TMO ADI|BDX|FI|FND|HAS|META|MSFT|MSI|ORCL|TMO AVGO|LLY|MRK|NVDA|ORCL|PGR SCHW |
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| 2022 Q4 | Jan 19, 2023 | Wedgewood Partners | 5.8% | 22.4% | AAPL, CDW, EW, GOOG, META, MSI, PYPL, TPL, TSCO, V | - | View | ||
| 2024 Q4 | Jan 15, 2025 | Wedgewood Partners | 5.5% | 29.1% | AAPL, BKNG, CDW, EW, GOOGL, META, MSFT, MSI, NVDA, ODFL, ORLY, POOL, SPGI, TPG, TSCO, TSM, UNH, V | AI, growth, interest rates, large cap, semiconductors, technology, Valuations | Wedgewood views AI as evolutionary rather than revolutionary, noting that companies like Alphabet and Meta have been using machine learning for over a decade. They emphasize that AI has been hiding in plain sight, with their portfolio companies already generating substantial returns from AI-related investments in R&D and capex. | View | |
| 2023 Q4 | Jan 13, 2024 | Wedgewood Partners | 5.8% | 22.4% | AAPL, CDW, CPRT, EW, GOOGL, META, MSFT, MSI, ODFL, ORLY, PYPL, TPG, TSCO, TSM, UNH, V | AI, Cloud, Fed policy, growth, large cap, semiconductors, technology | AI has been a multi-year phenomenon driving growth and profitability across portfolio companies. Meta Platforms has built one of the world's fastest supercomputers and uses AI for advertising optimization and content curation. Alphabet has spent $150 billion on R&D over five years, with 80% of advertising customers using AI-enabled tools. Apple has developed custom neural processing units enabling FaceID and other AI features across 200+ million devices annually. | View | |
| 2022 Q4 | Jan 3, 2023 | RiverPark Long/Short Opportunity Fund | 0.6% | 11.1% | 9WY, AAPL, ADYE AV, CDW, EW, FSR, GOOGL, META, MSI, PYPL, SI, SW, THRY, TSCO, V | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| May 4, 2026 | Fund Letters | Aristotle Value Equity Fund | Motorola Solutions, Inc. | Communication Equipment | Communications Equipment | Bull | New York Stock Exchange | Command Center Software, Government, high switching costs, Land Mobile Radio, Mission-Critical Communications, Public safety, recurring revenue, SaaS, Video Security | View Pitch |
| Apr 14, 2026 | Fund Letters | Wedgewood Partners | Motorola Solutions | Communication Equipment | Communications Equipment | Bull | New York Stock Exchange | Command Center Software, Communications Equipment, Government, Land Mobile Radio, LMR, Mission-Critical, Public safety, Unmanned Aerial | View Pitch |
| Apr 13, 2026 | Fund Letters | Wedgewood Partners | Motorola Solutions | Information Technology | Communications Equipment | Bull | NYSE | Communications Equipment, Emergency Communications, Government, infrastructure, Land Mobile Radio, Mission-Critical, Public safety | View Pitch |
| Apr 13, 2026 | Fund Letters | Andrew Hill Investment Advisors | Motorola Solutions, Inc. | Technology | Communications Equipment | Bull | NYSE | Communications Equipment, Defensive Technology, Emergency Services, Government Technology, Mission-Critical, Public safety | View Pitch |
| Jan 30, 2026 | Fund Letters | Robert Feitler | Motorola Solutions, Inc. | Information Technology | Communications Equipment | Bull | New York Stock Exchange | Communications, Margins, Public safety, Software Mix, valuation | View Pitch |
| Jan 16, 2026 | Fund Letters | David A. Rolfe | Motorola Solutions Inc. | Information Technology | Communications Equipment | Bull | New York Stock Exchange | Communications, growth, Public safety, Software, valuation | 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 |
|---|---|---|---|---|---|---|---|---|
| David Hoeft | Dodge & Cox | $185.3B | $4.3M | 0.00% | 11,255 | -100 | -0.88% | 0.0058% |
| Leon Cooperman | Omega Advisors | $3.0B | $51.7M | 1.72% | 135,000 | +0 | +0.00% | 0.0691% |
| Tim Campbell | Baillie Gifford | $120.3B | $14.9M | 0.01% | 38,760 | +38,760 | +100.00% | 0.0198% |
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $37.7M | 0.07% | 98,258 | -2,100 | -65.62% | 0.0503% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $45.0M | 0.05% | 117,378 | +117,378 | +100.00% | 0.0600% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $220.5M | 0.29% | 575,159 | +568,885 | +9067.34% | 0.2942% |
| Israel Englander | Millennium Management LLC | $233.2B | $2.2M | 0.00% | 5,700 | -1,800 | -24.00% | 0.0029% |
| Terrence Murphy | Clearbridge Investments | $124.9B | $111.6M | 0.09% | 291,081 | -6,548 | -2.20% | 0.1489% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $226.2M | 0.34% | 590,173 | +320,512 | +118.86% | 0.3019% |
| Cliff Asness | AQR Capital Management | $190.6B | $89.7M | 0.05% | 233,950 | -49,152 | -17.36% | 0.1197% |
| Bruce Kovner | Caxton Associates | $3.2B | $2.8M | 0.09% | 6,090 | +357 | +6.23% | 0.0038% |
| John Rogers | Ariel Investment | $9.3B | $289,407 | 0.00% | 755 | -5 | -0.66% | 0.0004% |
| Richard L. Chilton Jr. | Chilton Investment | $4.8B | $506,749 | 0.01% | 1,322 | +1,322 | +100.00% | 0.0007% |
| David Rolfe | Wedgewood Partners Inc | $535.5M | $27.5M | 5.13% | 71,724 | +14,167 | +24.61% | 0.0367% |
| Rich Handler | Jefferies | $19.3B | $1.1M | 0.01% | 2,759 | -3,191 | -53.63% | 0.0014% |
| Richard Kayne & John Anderson | Kayne Anderson Rudnick Investment Management | $37.3B | $3.3M | 0.01% | 8,586 | +8,188 | +2057.29% | 0.0044% |