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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 11, 2025 | Patient Capital Management | 15.3% | 4.2% | NCLH, QXO, UNH | contrarian, Discipline, dislocation, valuation, volatility | The letter emphasizes deploying capital during periods of fear, volatility, and pessimism when prices diverge sharply from fundamentals. Management highlights that market drawdowns and macro shocks create opportunities to buy durable businesses at attractive valuations. Long-term success is framed as a function of temperament, discipline, and willingness to act against consensus. | QXO IAC UNH |
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| 2025 Q1 | Apr 7, 2025 | Patient Capital Management | -9.6% | -9.6% | AMZN, C, NCLH, NVDA, QXO, RPRX, UAL | - | View | ||
| 2024 Q4 | Dec 31, 2024 | Ariel Small Cap Value Strategy | -0.8% | 9.0% | BCO, LIND, MGPI, MHK, NCLH, OSW | - | View | ||
| 2024 Q2 | Nov 7, 2022 | Patient Capital Management | 5.6% | 15.8% | BIIB, DAL, EVRI, EXPE, IAC, KOS, NCLH, NVDA | - | View | ||
| 2025 Q3 | Oct 12, 2025 | TimesSquare Capital Management U.S. Mid Cap Growth Strategy | 5.3% | - | APP, ARGX, AXON, BJ, BRO, CTAS, DASH, HOOD, HUBS, IBKR, IDXX, INSM, INSP, IT, LSCC, MPWR, NCLH, ORLY, ROST | AI, Automation, Fintech, healthcare, industrials | TimesSquare notes AI investment remains dominant but overextended, signaling a potential capital-cycle risk. The team emphasizes industrial automation, healthcare innovation, and financial technology as more durable mid-cap growth drivers. | View | |
| 2025 Q4 | Jan 18, 2026 | Ariel Small Cap Value Strategy | 3.0% | 0.0% | AMG, FDS, GNRC, KMT, NCLH, PSKY, REZI, RLI, SPHR, ZBRA | AI, Entertainment, insurance, Manufacturing, small cap, technology, value | Artificial intelligence continues to drive structural trends and productivity gains across industries, though benefits are unevenly distributed. The technology is contributing to market concentration and shifting competitive positioning, while raising questions about the durability of recent performance patterns. Data center market shows significant long-term growth potential driven by rising energy needs and artificial intelligence infrastructure expansion. Management emphasized strong momentum in this sector as a key growth driver. Live entertainment sector demonstrates robust consumer demand with Sphere Entertainment showing strengthening business fundamentals. The success of productions like The Wizard of Oz is accelerating discussions for future venue expansion both domestically and internationally. Cruise industry faces renewed skepticism despite record bookings and robust customer deposits. Norwegian Cruise Line maintains confidence in long-term demand supported by strategic capacity expansion and private island enhancements. | ZBRA RLI FDS NCLH GNRC REZI KMT AMG SPHR |
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| 2023 Q3 | Sep 30, 2023 | Ariel Small Cap Value Strategy | 10.1% | 0.0% | AMG, BCO, LESL, LIND, MAT, NCLH, SPHR | - | View | ||
| 2025 Q1 | Mar 31, 2025 | Ariel Appreciation Fund | -6.9% | -6.9% | ADT, BIO, GS, KN, MAT, MIDD, NCLH, SLB | - | View | ||
| 2025 Q1 | Mar 31, 2025 | Ariel Small Cap Value Strategy | -10.7% | -10.7% | ADT, BIO, FAF, LESL, LIND, MIDD, NCLH | - | View | ||
| 2022 Q4 | Jan 31, 2023 | Aristotle/Saul Global Equity Fund | 6.4% | 11.6% | CCJ, DASTY, DSM NA, NCLH | - | View | ||
| 2024 Q4 | Jan 30, 2025 | Aristotle/Saul Global Equity Fund | -7.8% | 3.0% | MCHP, NCLH, SONY, ZX6 GR | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 20, 2026 | Fund Letters | John Rogers | Norwegian Cruise Line Holdings Ltd. | Consumer Discretionary | Hotels Restaurants & Leisure | Bull | New York Stock Exchange | Bookings, Cruises, leverage, recovery, Travel | 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. | ||||||||