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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2023 Q3 | Sep 30, 2023 | Carillon Eagle Growth & Income Fund | - | - | ABBV, ADP, AVGO, AZN, BLK, CVX, ETN, JPM, MCD, MRK, MSFT, NEE, RTX, TEL, UNH | AI, dividends, income, interest rates, large cap, Quality, technology | The fund remains committed to investing in companies that pay and increase their dividends on a consistent basis. Management is pleased with the dividend growth that their companies have produced in 2023 and believes that income and income growth will serve clients well in the future. | 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 23, 2025 | Madison Sustainable Equity Fund | 6.1% | 2.4% | AAPL, ADBE, AMZN, ANET, COST, ECL, GOOGL, JPM, KEYS, LIN, LLY, MSFT, NEE, NVDA, ORCL, PGR, TEL, TJX, TXN, V | AI, Cloud, growth, healthcare, large cap, Quality, sustainability, technology | Oracle's massive RPO growth of 359% driven by multi-billion AI infrastructure contracts, with OCI revenue projected to grow from $18 billion to $144 billion over four years. Alphabet's Google Cloud accelerated to 31.7% growth, benefiting from AI demand. Microsoft and NVIDIA highlighted for strong AI-driven earnings growth expectations. | UNH LLY PGR DHR NEE TEL JPM MSFT AAPL ORCL |
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| 2025 Q2 | Jul 15, 2025 | Madison Dividend Income Fund | 1.1% | 4.4% | ADP, BLK, CME, HD, HON, JNJ, MDT, MS, NEE, UNP | AI, defensives, dividends, Quality, technology, Utilities, value | The fund focuses on high-quality dividend stocks trading at attractive valuations, with portfolio holdings increasing dividends by 6% annually. The relative yield strategy targets stocks at the high end of their historic dividend yield ranges, with the fund yielding 2.52% versus 1.15% for the S&P 500. | View | |
| 2023 Q2 | Jul 14, 2023 | GDS Investments | - | - | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZJ.AX, CABK.MC, CIP.AX, COL.AX, CS1.AX, EDV.AX, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, LLOY.L, MSCI, NEE, NEM, NST.AX, QUB.AX, TECK, WYNN | AI, Banking, commodities, Copper, Europe, gold, Macau, Onshoring, value | Portfolio heavily weighted toward copper producers including Teck Resources, Freeport-McMoRan, and Grupo Mexico. Copper prices rose 5% in September following supply disruptions at major mines. Several high-profile supply issues this year have shifted market expectations from surplus to deficit heading into 2026. | View | |
| 2023 Q2 | Jul 14, 2023 | Peak Asset Management | - | - | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZJ.AX, CABK.MC, CIP.AX, COL.AX, CS1.AX, EDV.AX, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, LLOY.L, MSCI, NEE, NEM, NST.AX, QUB.AX, TECK, WYNN | Banking, commodities, Copper, Europe, gold, Macau, Mining, value | Portfolio heavily weighted toward copper producers including Teck Resources, Freeport-McMoRan, and Grupo Mexico. Copper prices rose 5% in September following supply disruptions at major mines. The Grasberg mine accident and other supply issues shifted market expectations from surplus to deficit heading into 2026. | View | |
| 2024 Q2 | Jul 12, 2024 | Lexington Wealth Management | - | - | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZJ.AX, CABK.MC, CIP.AX, COL.AX, CS1.AX, EDV.AX, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, KKR, LLOY.L, MIN.AX, MSCI, NEE, NEM, NEX.PA, NST.AX, QUB.AX, SPEC.L, TECK, VK.PA, WYNN | Banking, commodities, Copper, cyclicals, Europe, gold, value | Fund maintains heavy exposure to copper producers including Teck Resources, Freeport-McMoRan, and Grupo Mexico. Copper prices rose 5% in September following supply disruptions at major mines. The Freeport Grasberg mine accident significantly reduced output and shifted market expectations from surplus to deficit heading into 2026. | View | |
| 2025 Q2 | Jun 30, 2025 | The Gabelli International Small Cap Fund | 13.8% | - | AAPL, AME, AMZN, AVGO, AXP, BATRA, BK, BMI, BMY, BRK.B, C, CAT, CHWY, CR, CVS, CVX, CW, DAN, DE, ELAN, EVRG, FRPT, GATX, GOOGL, GPC, HES, IDXX, ITT, JPM, KKR, LION, MA, META, MFI.TO, MLI, MSFT, MSGS, NEE, NEM, NFG, NFLX, NVDA, ORCL, PARA, RSG, SONY, SPGI, STT, T, TMUS, TRUP, V, WFC, ZTS | defense, energy, gold, Sports, tariffs, technology, Utilities | The Trump administration's tariff policies dominated market sentiment in Q2 2025, with Liberation Day (April 2) introducing sweeping tariffs that initially triggered a 21% market drawdown. However, a 90-day pause and bilateral trade agreements with key partners helped stabilize markets. The administration appears intent on rolling back globalization, with effective weighted average tariff rates potentially reaching 18%. | 5444 JP TCAP LN |
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| 2025 Q2 | Jun 30, 2025 | City Different Investments – Multi-Cap Core | 12.3% | 8.1% | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZJ.AX, CABK.MC, CIP.AX, COL.AX, CS.AX, EDV.AX, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, LLOY.L, MIN.AX, MSCI, NEE, NEM, NEX.PA, NST.AX, QUB.AX, SXS.L, TECK, WYNN | Banking, Casinos, commodities, Copper, global, gold, value | Fund maintains heavy exposure to copper producers including Teck Resources, Freeport-McMoRan, and Grupo Mexico. Copper prices rose 5% in September following supply disruptions at major mines. The Grasberg mine accident significantly reduced output and shifted market expectations from surplus to deficit heading into 2026. | View | |
| 2024 Q2 | Jun 30, 2024 | Tarkio Fund | - | - | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZJ.AX, CNI.AX, COL.AX, CS1.AX, CXB.MC, EDV.AX, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, LLOY.L, NEE, NEM, NST.AX, QUB.AX, TECK, WYNN | commodities, Copper, cyclicals, European Banks, gold, Macau, value | Portfolio heavily weighted towards copper producers including Teck Resources, Freeport-McMoRan and Grupo Mexico. Copper prices rose 5% in September following major accident at Freeport's Grasberg mine, shifting market expectations from surplus to deficit heading into 2026. Several high-profile supply issues this year have supported copper fundamentals. | View | |
| 2024 Q1 | Jun 15, 2024 | ClearBridge Investments Large Cap Value | 0.0% | 0.0% | AMZN, ETN, GOOGL, INTC, META, MSFT, NEE, NFLX, NVDA, PANW, PYPL, RTX, UBER | growth, inflation, large cap, Mega Cap, rates, technology | Amazon and Microsoft both saw acceleration in cloud revenues and communicated increasing run rates for their AI-driven services. Meta is focusing on high-return AI investments while maintaining cost discipline. | View | |
| 2025 Q1 | Jun 10, 2025 | Miller Wealth Management | - | - | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZJ.AX, CNI.AX, COL.AX, CS1.AX, CXB.MC, EDV.AX, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, LLOY.L, MSCI, NEE, NEM, NST.AX, QUB.AX, TECK, WYNN | AI, commodities, Copper, European Banking, gold, Macau, Onshoring, value | Fund maintains heavy exposure to copper producers including Teck Resources, Freeport-McMoRan, and Grupo Mexico. Copper prices rose 5% in September following major accident at Freeport's Grasberg mine, shifting market expectations from surplus to deficit heading into 2026. Several high-profile supply issues this year have supported copper fundamentals. | View | |
| 2023 Q1 | May 31, 2023 | GDS Investments | - | - | 1928.HK, 2282.HK, A91.L, BIRG.I, CABK.MC, CGF.AX, CRN.AX, CSTCF, DGE.L, EDV.AX, FCX, FDV.AX, GQG.AX, HEIA.AS, INGA.AS, LLOY.L, MSCI, NEE, NEM, NEM.AX, NEX.PA, QUB.AX, RI.PA, SAN.PA, SHEL.L, SIE.DE, SPEC.L, TECK.TO, VK.PA, WOW.AX, WYNN | commodities, Copper, defense, European Banks, gaming, gold, Onshoring, tariffs | European banks are significantly undervalued relative to US and Australian peers. Rising infrastructure and defense spending in Europe will stimulate industrial activity and credit demand. A reviving European economy could create jobs and boost anaemic credit growth, aiding European banks. | FCX SIE.DE |
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| 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 | |
| 2024 Q1 | May 2, 2024 | Madison Dividend Income Fund | 10.1% | 9.5% | ADP, BLK, CMCSA, CME, EOG, FAST, HD, MDT, MS, NEE, XOM | dividends, energy, financials, income, industrials, Quality, value | Fund employs relative yield strategy buying stocks with dividend yield at least 1.1x the S&P 500. Portfolio has dividend yield of 2.84% with relative dividend yield of 2.1x S&P 500, the highest levels in 20 years. Manager believes dividend stocks are historically cheap versus broad market. | XOM |
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| 2024 Q1 | Apr 4, 2024 | The Compounding Tortoise | - | - | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZN.AX, CIP.AX, COL.AX, CS.AX, CXBK.MC, EDV.AX, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, LLOY.L, MRL.AX, MSCI, NEE, NEM, NST.AX, QUB.AX, TECK, WYNN | Banking, commodities, Copper, cyclicals, global, gold, Mining, value | Fund maintains heavy exposure to copper producers including Teck Resources, Freeport-McMoRan, and Grupo Mexico. Copper prices rose 5% in September following supply disruptions at major mines. The Freeport Grasberg accident shifted market expectations from surplus to deficit heading into 2026. | View | |
| 2023 Q1 | Apr 27, 2023 | NZS Capital – Growth | - | - | ABNB, AMZN, ASML, BALL, CDNS, CRM, CSGP, CSTM, DHR, GOOGL, LIN, MELI, MRNA, MU, NEE, NTDOY, NVDA, ORSTED.CO, TSM, WDAY | AI, Digital Transition, growth, innovation, semiconductors, technology | Generative AI is accelerating innovation and disruption across sectors, with ChatGPT reaching 100M users in two months. Enterprise SaaS companies need AI strategies or risk being left behind by new entrants. The firm adjusted portfolio positioning to favor early AI beneficiaries. | View | |
| 2026 Q1 | Apr 21, 2026 | PM Capital Enhanced Yield Fund | 0.7% | 0.7% | HSBA.L, MSCI, NEE, QUB.AX, TLS.AX | Corporate Bonds, credit, fixed income, interest rates, Yield | View | ||
| 2024 Q1 | Apr 15, 2024 | Matrix Large Cap Value Strategy | 0.0% | 0.0% | ABBV, AEP, AMGN, APD, DUK, EBAY, FDX, JPM, NEE, PARA, PYPL, QCOM, RTX, SBUX, TSN, TXN, UNH | AI, dividends, financials, large cap, rates, technology, Utilities, value | Utilities were the worst-performing sector in 2023, creating opportunities to buy high-quality companies with predictable earnings and dividend growth. The sector has emerging growth potential as electricity demand for AI, data centers, and new technology is projected to rise rapidly through the end of the decade. Matrix increased utility exposure from 4% to 10.5% of the portfolio. | TSN AEP |
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| 2024 Q1 | Apr 15, 2024 | Matrix Dividend Income | 0.0% | 0.0% | ABBV, AEP, AMGN, APD, DUK, EBAY, FDX, JPM, NEE, PARA, PYPL, QCOM, RTX, SBUX, TSN, TXN, UNH | dividends, financials, large cap, Rate Cuts, technology, Utilities, value | Utilities were the worst-performing sector in 2023, creating opportunities to buy high-quality companies with predictable earnings and dividend growth. The sector has emerging growth potential as electricity demand for AI, data centers, and new technology is projected to rise rapidly through the end of the decade. Matrix increased utility exposure from 4% to 10.5% of the portfolio. | TSN AEP |
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| 2023 Q1 | Apr 15, 2023 | Torre Financial | 16.7% | 16.7% | 7741.T, ADSK, ADYEN.AS, AMZN, APH, ASML, BALL, CCJ, CDNS, CMG, DHR, DOXI, FAST, FISV, GOOG, HXGN, LIN, MCHP, MELI, MSFT, NEE, OKTA, PGR, RGEN, WDAY | Adaptability, AI, global, growth, innovation, semiconductors, technology | AI marks a new wave of productivity advances, potentially more impactful than the last 40 years. The infrastructure for AI is mostly in place, unlike previous innovation cycles. AI will bring substantial changes to business models and could be an important driver for deflation. | ACGL|APH|COO|CSGP|DKNG|GWRE|IDXX|IOT|IT|LPLA|MSCI|MTD|PCOR|ROP|TECH|VRSK |
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| 2026 Q1 | Apr 13, 2026 | The Davenport Value & Income Fund | 1.9% | 1.9% | ACN, BDX, CMCSA, CSCO, CVX, ELV, ENB, FDX, NEE, NSC, NVO, SLB, TXN, UNH, UNP, VSNT, WAT, WY, XOM | AI, dividends, energy, Geopolitical, income, infrastructure, large cap, value | View | ||
| 2024 Q1 | Apr 10, 2024 | Andrew Hill Investment Advisors | - | - | AAPL, ADBE, ANET, CARR, CEG, CMG, DELL, EQT, GE, GRMN, JPM, KEY, MSFT, NEE, NVDA, OKE | AI, energy, growth, large cap, Natural Gas, semiconductors, technology, Utilities | AI is the dominant investment theme with Nvidia rising 82%, Microsoft advancing 15%, and Dell positioned to benefit from computer upgrades needed for AI applications. The manager views AI as requiring significant electricity to power data centers, leading to investments in utilities like Constellation Energy. | View | |
| 2025 Q1 | Mar 31, 2025 | The Davenport Value & Income Fund | 3.8% | 3.8% | AVY, BAM, BMY, BRK.B, BUD, CMCSA, CVX, ELV, FDX, HP, HSY, JNJ, LHX, NEE, NSC, ORCL, PM, SNY, STZ, UPS | Buybacks, Consumer Staples, Defensive, dividends, healthcare, value | Sixteen of DVIPX's holdings raised their dividends during the quarter, led by double-digit percentage increases at Walmart, Brookfield Corp, and others. The average DVIPX constituent has raised its dividend 8% year-over-year, which exceeds the S&P 500's 6%. The Fund is both higher yielding and possesses higher dividend growth than the benchmarks. | View | |
| 2025 Q1 | Mar 31, 2025 | Madison Sustainable Equity Fund | - | - | A, AAPL, ACN, AMZN, COST, ECL, GOOGL, JPM, LIN, LLY, MSFT, NEE, ORCL, PGR, UPS, USB, V | financials, healthcare, Quality, sustainability, tariffs, technology | New tariffs announced by President Trump on April 2, 2025 are expected to erode business and consumer confidence, increase business costs, and keep inflation elevated. The impact is causing earnings estimate revisions and contributing to a more pronounced economic slowdown. | View | |
| 2025 Q4 | Mar 13, 2026 | Goehring & Rozencwajg Associates, LLC | - | - | CCJ, COPX, GDX, GOOGL, META, NEE, SIL, TSLA, VST, XBM, XLE, XOP | Coal, commodities, Copper, gold, Natural Gas, oil, Silver, uranium | Oil markets disrupted by closure of Straits of Hormuz affecting 20% of global production. Prices surged from $70 to $119.50 before retreating to $90. Market may be tighter than commonly believed despite IEA projections of surplus. Oil represents cheapest major asset class globally, trading at near-record lows relative to gold. Gold reached record highs above $5,000 per ounce but silver's dramatic rally has triggered a sell signal. Historical pattern suggests both metals may enter 2-3 year correction period. Central bank demand remained strong at 863 tonnes for 2025, though China purchases slowed significantly. Silver surged 220% since April 2024, generating powerful sell signal for precious metals. Performance mirrors 1979 parabolic blow-off that marked end of gold bull market. Retail demand peaked with reports of long lines at dealers globally before recent 40% decline from highs. Market shifted from deficit to surplus as Chinese demand stalled for first time in 25 years while supply expanded by 3 million tonnes since 2021. Exchange inventories reached 1.2 million tonnes, highest since 2003. Bearish outlook as China transitions from under-consuming to over-consuming copper. Demand surging from nuclear restarts and new construction while supply faces operational challenges. Google, Meta partnerships signal corporate adoption of nuclear power. Sprott Physical Uranium Trust resumed buying 10 million pounds since June, helping drive 45% price increase. North American gas showed strength on cold weather despite bearish sentiment. Production growth concentrated in Permian Basin while other shales declined. Supply growth expected to plateau as Permian oil production slows, setting stage for higher prices as LNG demand expands. Coal consumption rose 7-8% in 2025, first increase in years, driven by data center demand and higher gas prices. Multiple plant closures delayed or cancelled as grid reliability concerns mount. Asia continues expanding coal capacity despite transition promises. Bull market may be in early stages with most commodities 46% below nominal peaks and 73% below inflation-adjusted highs. Commodity-to-equity ratio near historic lows suggests capital starvation. Current cycle appears only one-third complete compared to historical precedent. | View | |
| 2023 Q4 | Dec 31, 2024 | Miller Howard Investments Utilities Plus | 0.0% | 0.0% | AES, BKH, ES, ETR, EVRG, NEE, NEP, OGS, PEG, POR, VST | dividends, energy, income, infrastructure, interest rates, Utilities | The letter extensively discusses dividend growth as an underappreciated tailwind, showing how companies with larger dividend increases historically outperform. The analysis demonstrates that dividend increases compound to substantially higher income over time, with 40 basis points of annual increases tripling the beginning yield after 10 years. | View | |
| 2024 Q4 | Dec 31, 2024 | Madison Sustainable Equity Fund | -2.1% | 17.4% | AAPL, ADBE, AMZN, BLK, COST, DHR, ECL, GOOGL, JPM, KEYS, LIN, LLY, MCD, MSFT, NEE, ORCL, SCHW, TGT, UNH, V | financials, growth, healthcare, large cap, Quality, sustainability, technology | Google's Cloud business reported accelerating revenue growth from 29% to 35% year-over-year, showing the company is gaining traction with enterprise customers. Google has released a new quantum chip that has been well received by investors for its growth potential. Adobe continues to grow with professional creative designers and enterprise customers by integrating new GenAI features into its existing software applications. | View | |
| 2024 Q4 | Dec 31, 2024 | Madison Dividend Income Fund | -1.7% | 7.6% | ADP, BLK, CME, HD, HON, JNJ, MDT, MS, NEE, ROK, TEL, TXN | dividends, income, industrials, large cap, Quality, Relative Yield, technology, value | The fund employs a relative yield strategy, buying stocks with dividend yields at least 1.1x the S&P 500. The portfolio's relative yield of 2.15x the S&P 500 is at the high end of its historical range and 25% higher than at the end of 2022. Portfolio holdings have increased their dividends by nearly 8% on average over the past year, well above inflation rates. | TEL ROK |
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| 2024 Q4 | Dec 31, 2024 | Aristotle Atlantic Core Equity Strategy | 4.0% | 13.8% | AMP, AVMD, AVY, CHG, CI, CRWD, DAR, EXPE, GE, MCHP, NEE, SNOW, SPR, ZTS | aerospace, AI, cybersecurity, earnings, growth, industrials, large cap, technology | Broadcom demonstrated continuing strength in AI networking and custom accelerator semiconductor business with long-term guidance indicating $60-90 billion market opportunity from current three customers. The company exceeded investor expectations for AI semiconductor content and is ahead on VMware integration timeline. | CRWD GE |
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| 2024 Q4 | Dec 31, 2024 | Miller Howard Investments Infrastructure | - | - | AES, AM, AMT, CCI, EQIX, ETR, HCA, KMI, LNG, NEE, OKE, PAGP, SOBO, TRGP, TRP, WMB | Data centers, dividends, income, infrastructure, Midstream, REITs, Utilities | The portfolio focuses on high and rising income through dividend increases, with 7 of 35 holdings announcing dividend increases averaging 8% this quarter. Over 80% of holdings increased dividends annually over the last 5 years, exceeding the large-cap dividend-paying universe. | View | |
| 2024 Q4 | Dec 31, 2024 | Miller Howard Investments Utilities Plus | - | - | AEP, AES, CEG, CNP, ETR, MDU, NEE, NI, PCG, SO, VST | AI, dividends, energy, Power, rates, regulation, Utilities | Data center and artificial intelligence trends are driving growing electricity demand, benefiting power producers like Vistra Corp. The company was the second-best performing name in the S&P 500 this year as a key beneficiary of these trends. Entergy also increased guidance due to META's plans to build a $10B AI data center in northeast Louisiana. | View | |
| 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 | Saturna Sustainable Funds | -4.2% | 9.6% | AAPL, ADBE, AVGO, GOOGL, LIN, LLY, LULU, NEE, NOW, NVDA, NVO, SBUX, TJX, TSCO, TSM | AI, infrastructure, Onshoring, semiconductors, Sustainable, tariffs, technology, Utilities | AI infrastructure companies like Nvidia, Taiwan Semiconductor, and Broadcom drove significant portfolio returns. The fund maintains exposure to AI enablers while adding companies whose growth opportunities are not contingent on AI advancements. Many companies contributing to AI building blocks enjoyed extraordinary returns during 2024. | View | |
| 2024 Q4 | Dec 31, 2024 | Mondrian Global Equity Fund | - | - | BF-B, DGX.DE, DPW.DE, ENEL.MI, F, FDX, GM, HMC, MBG.DE, MRK, NEE, NESN.SW, PG, PWR, RI.PA, ROG.SW, SAN.PA, UL, UPS | Corporate Governance, Energy Transition, Europe, international, Japan, Utilities, valuation, value | US markets trade at historically high 60% premium to non-US markets, creating compelling value opportunities internationally. Japanese equities offer particularly attractive valuations with solid balance sheets and corporate governance improvements driving record buybacks. | View | |
| 2024 Q4 | Dec 31, 2024 | Mondrian International Equity Value Opportunities | - | - | BF-B, DG.PA, DPW.DE, ENEL.MI, F, FDX, GM, HMC, MBG.DE, MRK, NEE, NESN.SW, PG, PWR, RI.PA, ROG.SW, SNY, SPIE.PA, UL, UPS | Currency, Energy Transition, international, Japan, Utilities, value | US markets trade at historically high 60% premium to non-US markets, creating compelling value opportunities internationally. Valuation discrepancies exist across sectors where fundamentally similar companies trade at significant multiples differences based solely on listing location. | View | |
| 2023 Q2 | Dec 7, 2023 | Madison Dividend Income Fund | 10.1% | 9.5% | NEE | AI Risk, Concentration, Defensive, dividends, Quality, value | The fund focuses on high-quality dividend stocks trading at attractive valuations relative to the broader market. Portfolio holdings have increased dividends by 6% on average over the past year, well above inflation. The fund's relative yield of 2.25x the S&P 500 is at the high end of historical ranges, indicating dividend stocks are on sale. | View | |
| 2025 Q3 | Nov 8, 2025 | Cullen Value Fund | 6.8% | 15.9% | AMAT, BAC, BDX, BMY, BWA, C, CI, CMCSA, DIS, JPM, KVUE, LOW, MBGYY, MDLZ, MS, MU, NEE, ORCL, SRE, UNH | AI, dividends, financials, growth, healthcare, technology, value | AI investments have propelled markets higher with euphoria around AI driving the Magnificent 7 to record valuations. Trillions of dollars are being invested into agentic AI that will eventually need to be monetized. Capital expenditures among top hyperscalers have surged as they race to establish leadership in generative AI, creating a self-perpetuating cycle of investment. | UNH SW BDX |
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| 2023 Q3 | Nov 1, 2023 | NZS Capital – Growth | - | - | ADYEN.AS, APH, ASML, BALL, CCJ, CMG, DHR, DOX, FI, GOOGL, HXGBY, MCHP, NEE, OKTA, PGR, RGEN | AI, Automation, Energy Transition, growth, innovation, semiconductors, technology | AI marks a new wave of productivity advances, potentially more impactful than the last 40 years. The infrastructure for AI is mostly in place, unlike previous innovation cycles. AI will bring substantial changes to business models and could be an important driver for deflation. | ACGL|APH|COO|CSGP|DKNG|GWRE|IDXX|IOT|IT|LPLA|MSCI|MTD|PCOR|ROP|TECH|VRSK |
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| 2024 Q3 | Oct 9, 2024 | TEAM Asset Management | - | - | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZJ.AX, CABK.MC, CIP.AX, COL.AX, CS.AX, EDV.AX, EGLE, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, LLOY.L, MIN.AX, MSCI, NEE, NEM, NST.AX, QUB.AX, TECK, WYNN | Banking, commodities, Copper, cyclicals, Europe, gold, Macau, value | Portfolio heavily weighted towards copper producers including Teck Resources, Freeport-McMoRan and Grupo Mexico. Copper prices rose 5% in September following major accident at Freeport's Grasberg mine, shifting market expectations from surplus to deficit heading into 2026. Several high-profile supply issues this year have supported copper fundamentals. | View | |
| 2023 Q3 | Oct 5, 2023 | Sandhill Investment Management | - | 12.4% | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZJ.AX, CABK.MC, CIP.AX, COL.AX, CS1.AX, EDV.AX, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, LLOY.L, MSCI, NEE, NEM, NST.AX, QUB.AX, TECK, WYNN | Banking, commodities, Copper, cyclicals, Europe, gaming, gold, value | Portfolio heavily weighted toward copper producers including Teck Resources, Freeport-McMoRan, and Grupo Mexico. Copper prices rose 5% in September following supply disruptions at major mines. The Freeport Grasberg accident shifted market expectations from surplus to deficit heading into 2026. | View | |
| 2025 Q3 | Oct 20, 2025 | PM Capital Australian Companies Fund | 18.5% | - | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZJ.AX, CNI.AX, COL.AX, CS.AX, CXBK.MC, EDV.AX, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, LLOY.L, MRL.AX, MSCI, NEE, NEM, NST.AX, QUB.AX, TECK, WYNN | AI, commodities, Copper, European Banks, gold, Macau, Onshoring, value | Portfolio heavily weighted towards copper producers including Teck Resources, Freeport-McMoRan, and Grupo Mexico. Copper prices rose 5% in September following major accident at Freeport's Grasberg mine, shifting market expectations from surplus to deficit heading into 2026. Several high-profile supply issues this year have supported copper outlook. | View | |
| 2025 Q3 | Oct 20, 2025 | PM Capital Global Companies Fund | 10.0% | - | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZN.AX, CIP.AX, COL.AX, CS.AX, CXBK.MC, EDV.AX, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, LLOY.L, MRL.AX, MSCI, NEE, NEM, NST.AX, QUB.AX, TECK, WYNN | AI, Banking, commodities, Copper, global, gold, value | Fund maintains heavy exposure to copper producers including Teck Resources, Freeport-McMoRan, and Grupo Mexico. Copper prices rose 5% in September following supply disruptions at major mines. The Freeport Grasberg accident shifted market expectations from surplus to deficit heading into 2026. | View | |
| 2025 Q3 | Oct 16, 2025 | Polaris Global Equity | 5.0% | 18.5% | 000660.KS, 005930.KS, 055550.KS, 5019.T, 6758.T, 8306.T, 8591.T, ABBV, ALSN, BARRY.SW, BPOP, CAP.PA, CG, CVS, DHL.DE, DTG.DE, ELV, GD, IAG.L, IPS.PA, JAZZ, LKQ, LNTH, LUN.TO, MEOH, MG, MKSI, MNDI.L, MPC, NEE, PUB.PA, SBH, SLM, UNH, UTHR, VIPS | AI, Energy Transition, financials, global, healthcare, semiconductors, Trade Policy, Valuations | The current two-speed economy is characterized by a narrow AI-driven boom versus subdued growth across most other industries. Just seven mega-cap U.S. tech stocks drove nearly 60% of the S&P 500 gains in 2025 to date. The frothy valuations in the AI tech sector should make investors cautious, as concentrated indices could face material correction if the AI boom busts. | View | |
| 2025 Q3 | Oct 15, 2025 | Madison Sustainable Equity Fund | 6.5% | 8.2% | AAPL, ADBE, AMZN, ANET, COST, ECL, GOOGL, JPM, KEYS, LIN, LLY, MSFT, NEE, NVDA, ORCL, PGR, TEL, TJX, TXN, V | growth, healthcare, large cap, Quality, Sustainable, technology | Oracle's massive RPO growth driven by AI infrastructure demand, with OCI revenue projected to increase from $18 billion to $144 billion over four years. Data center capital expenditure growth benefiting companies like Arista Networks. AI infrastructure companies generating strong performance in the quarter. | TJX TEL ANET GOOGL ORCL |
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| 2023 Q3 | Oct 15, 2023 | Madison Sustainable Equity Fund | 6.1% | 20.1% | ADI, BMY, COST, DIS, EL, GOOGL, HD, J, LLY, NEE, ORCL, PEP, TEL, TGT, TXN, UNH | growth, healthcare, infrastructure, large cap, Quality, semiconductors, sustainability, technology | Eli Lilly's diabetes franchise, particularly Mounjaro, continues to drive performance with approval for diabetes and expected approval for obesity treatment later this year. The company is also awaiting approval of donanemab for Alzheimer's by year end. | TXN GOOGL 0JZ0 LN ALLY |
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| 2025 Q3 | Oct 14, 2025 | Madison Dividend Income Fund | 3.9% | 8.5% | ADP, BLK, CME, HD, HON, JNJ, MDT, MS, NEE, UNP | AI, defensives, dividends, financials, Quality, Utilities, value | The fund focuses on high-quality dividend stocks trading at attractive valuations, with portfolio holdings increasing dividends by 6% annually. The strategy emphasizes above-average dividend yields as protection against market volatility and inflation. | View | |
| 2023 Q3 | Oct 1, 2023 | Lexington Wealth Management | - | - | 1928.HK, BAC, BHP, CGF.AX, CNI.AX, CRN.AX, FCX, HEIA.AS, IMD.AX, ING, JPM, MIN.AX, NEE, RPRX, SHEL, SIE.DE, SMR.AX, SNY, WDS.AX, WYNN | Copper, European Banks, global, infrastructure, tariffs, valuation | Tariffs have become the primary market driver, creating uncertainty across global markets. The fund analyzes both direct impacts on holdings and second-order effects including consumer sentiment, inflation, and corporate capital expenditure decisions. | View | |
| 2024 Q4 | Jan 7, 2025 | ClearBridge Investments Large Cap Growth Strategy | 0.0% | 0.0% | ABNB, ACN, AMZN, ASML, AVGO, GOOGL, ISRG, LLY, META, NEE, NFLX, NVDA, NVO, TMO, TSLA, UBER, UNH, V, ZTS | growth, healthcare, large cap, Magnificent Seven, technology, Valuations | AI is clearly a megatrend that the managers are monitoring closely to gauge the next phase of use cases and impact both to technology-oriented businesses and to those in more traditional industries. Portfolio holding Intuitive Surgical is making significant strides in providing feedback to surgeons using its robotic instruments. | ABNB NVO ICLR |
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| 2025 Q4 | Jan 24, 2026 | Miller Howard Investments Infrastructure | -2.9% | 8.8% | AMT, CEG, LNG, MPC, NEE, NGG, PEG, SRE, T, TMUS, TRGP, UPS, VZ, XEL | Data centers, dividends, energy, infrastructure, nuclear, Utilities | The US nuclear industry is undergoing its most significant shift in decades with rising electricity demand, policy support, and emerging technologies creating foundation for long-term capacity expansion. The manager views companies with existing nuclear assets and restart plans as ideal investments with attractive risk/reward profiles. Rising electricity demand driven by data centers is a key growth driver, with hyperscalers signing multiple power purchase agreements for nuclear offtake. Data centers have power demands ranging from 50 MW to 2 GW and are willing to sign agreements at premium prices for nuclear generation. The portfolio offers high dividend yield over 2.5x the S&P 500 Index with strong prospects for dividend growth and ample coverage. Eight holdings announced dividend increases this quarter with an average increase of 9.5%. Policy support through the Infrastructure Investment and Jobs Act and Inflation Reduction Act has provided financial support and tax credits for nuclear development, putting it on level ground with wind and solar while creating a floor for existing nuclear fleet. | View | |
| 2025 Q4 | Jan 24, 2026 | Miller Howard Investments Utilities Plus | -2.4% | 14.2% | AEP, BKH, CEG, DTE, MDU, NEE, PEG, PPL, SO, SRE, VST, XEL | Capital Expenditure, Data centers, dividends, earnings growth, Grid Infrastructure, nuclear, Power Markets, Utilities | US electricity demand continues to grow driven by data center proliferation. Utilities are deploying accelerating capital into grid infrastructure to bridge the gap between existing capacity and rising future demand. Companies like NextEra Energy and Black Hills are benefiting from their ability to serve data centers with diversified offerings. Utilities are deploying ever-accelerating amounts of capital into grid infrastructure to meet rising electricity demand. S&P 500 Utility Index capex forecasts for 2026 and 2027 increased by 16% and 15% respectively. Higher levels of capital deployed within the regulated utility framework are lifting utility growth profiles. This quarter, 10 of the 32 holdings announced dividend increases with an average increase of 15.3%. An enhanced earnings profile should strengthen utilities' ability to provide high and rising income to investors. The portfolio focuses on generating total returns with a high and rising stream of income. NextEra Energy signed a 25-year power purchase agreement with Google to restart the Duane Arnold nuclear plant. Constellation Energy benefited from a FERC ruling on co-location that was viewed as positive for Independent Power Producer development and from PJM Interconnection capacity auction pricing. Tightening power markets for independent power producers lifted utility growth profiles. Constellation Energy benefited from FERC ruling on co-location viewed as positive for IPP development. The company also benefited from PJM Interconnection capacity auction where pricing came in at the top of the collar range. | 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 Q4 | Jan 14, 2025 | Horizon Investment | - | - | 1928.HK, 2282.HK, AIR.PA, ALD.AX, AZJ.AX, CNI.AX, COL.AX, CS1.AX, CXB.MC, EDV.AX, FCX, FDV.AX, GMEXICOB.MX, HSBA.L, LLOY.L, MSCI, NEE, NEM, NST.AX, QUB.AX, TECK, WYNN | Banking, commodities, Copper, Europe, gold, Macau, value | Portfolio heavily weighted towards copper producers including Teck Resources, Freeport-McMoRan and Grupo Mexico. Copper prices rose 5% in September following major accident at Freeport's Grasberg mine, shifting market expectations from surplus to deficit heading into 2026. Several high-profile supply issues this year have tightened the market. | View | |
| 2024 Q3 | Sep 30, 2024 | ClearBridge Investments Large Cap Growth Strategy | 0.0% | 0.0% | AAPL, ACN, AMZN, APTV, CMG, EL, EQIX, GOOGL, META, MMC, MSFT, NEE, NVDA, PYPL, RTX, SBUX, SHW, TEAM, TSLA, UNH | AI, diversification, growth, healthcare, large cap, technology, valuation | The Strategy manages exposure to AI-driven growth stocks including NVIDIA, which has been trimmed due to valuation concerns despite belief in its 10-year trajectory as hyperscaler and enterprise customers invest in GPU architecture. The managers acknowledge AI momentum has driven market leadership but are selective about valuations. | APTV TEAM EL SBUX |
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| 2024 Q3 | Sep 30, 2024 | Madison Sustainable Equity Fund | 6.1% | 20.1% | A, AAPL, ACN, AMZN, COST, DHR, GOOGL, HD, JPM, LIN, LLY, MSFT, NEE, ORCL, PGR, TJX, TXN, UNH, USB, V | healthcare, large cap, Quality, sustainability, technology, value | Microsoft continues to point to supply constraints in Azure but remains bullish about AI opportunities with their expansive enterprise position. Oracle reported strong Cloud infrastructure demand acceleration and highlighted multi-year AI growth opportunities. Qualcomm is positioned for AI moving into mobile phones and entering the AI PC business, though ramping will take time. | View | |
| 2024 Q3 | Sep 30, 2024 | Madison Dividend Income Fund | 10.1% | 9.5% | ADP, BLK, CME, FAST, HD, HON, JNJ, MDT, MS, NEE, TXN | dividends, income, industrials, large cap, Quality, value | Fund employs a relative yield strategy targeting stocks with dividend yields at least 1.1x the S&P 500. Portfolio holdings increased dividends by nearly 8% on average over the past year, well above inflation rates. Fund maintains focus on companies with consistent dividend increase records. | HON |
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| 2024 Q3 | Sep 30, 2024 | Aristotle Atlantic Core Equity Strategy | 3.1% | 21.7% | AMAT, AR, EL, GH, GOOGL, HAL, HD, ICE, NEE, NSC, TT | energy, industrials, large cap, technology, Utilities, value | Applied Materials faced investor pullback in AI-related semiconductor names due to concerns about AI market growth and profitability of massive capex investments. The company continues to benefit from secular shift to highly complex semiconductors design and manufacturing, but faces weakness in NAND manufacturing and potential trade restrictions on Chinese equipment purchases. | ICE TT HAL AMAT |
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| 2024 Q3 | Sep 30, 2024 | Miller Howard Investments Infrastructure | 0.0% | 0.0% | AEE, AMT, AWK, CEG, CNP, CSX, ETR, HCA, LNG, MPC, NEE, NEP, NI, PAGP, TMUS | Data centers, dividends, infrastructure, Midstream, Natural Gas, Power, REITs, Utilities | Datacenter proliferation is driving accelerating power demand, benefiting utilities and midstream sectors. Natural gas will be used to meet incremental demand as intermittent renewable power requires dispatchable generation supplementation. | View | |
| 2024 Q3 | Sep 30, 2024 | Miller Howard Investments Utilities Plus | 0.0% | 0.0% | ATO, AWK, BKH, CEG, CNP, DUK, ETR, MDU, MSFT, NEE, NEP, NI, PCG, VST | Data centers, dividends, income, nuclear, Power, rates, Utilities | Rising electricity demand from datacenter trends remained at the forefront of investors' minds and drove independent power producer performance. Constellation Energy's 20-year power purchase agreement with Microsoft to restart Three Mile Island nuclear unit created a catalyst for the group. | View | |
| 2023 Q3 | Sep 30, 2024 | Miller Howard Investments Utilities Plus | 0.0% | 0.0% | AM, BK, CAG, CEG, CMCSA, EPD, GS, HESM, JPM, MPC, MPLX, NEE, NS, NTR, PAYX, SO, SUN, TRGP, TXN, VST | AI, dividends, energy, income, inflation, interest rates, Midstream, Utilities | The firm emphasizes dividend-focused investing as a reliable source of returns, noting that dividends have continued to chug along this year while earnings expansion has been in short supply. They highlight that high-dividend-yield stocks have historically outperformed during recessions and provide downside protection. | View | |
| 2024 Q3 | Sep 30, 2024 | Aristotle Core Equity Fund | 2.9% | 21.3% | AAPL, AMAT, AMZN, AR, AVGO, COST, EL, GH, GOOGL, HAL, HD, ICE, JPM, META, MSFT, NEE, NSC, NVDA, TT | energy, HVAC, large cap, semiconductors, technology, value | Applied Materials detracted from performance as part of general investor pullback in AI-related semiconductor names due to concerns about overall AI market growth in the near-term and profitability of massive capex investments being made in AI infrastructure. The company continues to benefit from a secular shift to highly complex semiconductors design and manufacturing. | EL HAL ICE TT AMAT |
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| 2024 Q3 | Sep 30, 2024 | Barometer Capital Management | - | - | AEM.TO, ARX.TO, AVGO, BRBR, BWXT, CCO.TO, CIBC.TO, EFN.TO, FFH.TO, GE, HWM, K.TO, MFC.TO, NEE, NVDA, PGR, QCOM, SO, TRP, VLO | AI, banks, energy, gold, insurance, nuclear, Pipelines, technology | Artificial intelligence remained a focus during the quarter with continued voracious demand by large tech companies for GPUs and datacenter capacity. Investor focus has evolved from GPU suppliers to infrastructure and energy providers supporting datacenter expansion. | View | |
| 2023 Q3 | Sep 30, 2023 | Matrix Dividend Income | 0.0% | 0.0% | AAPL, AEP, AMGN, AMZN, BKNG, CMCSA, FDX, FI, GOOGL, JPM, LHX, META, MSFT, NEE, PFE, RTX, TXN, UL, UNH, ZBH | dividends, financials, large cap, rates, Utilities, value | The Dividend Income portfolio focuses on companies that pay regular dividends, with 17 companies announcing dividend increases in 2023 averaging 6.8%. The portfolio maintains a 3.35% dividend yield compared to 1.61% for the S&P 500, demonstrating the strategy's focus on generating strong and growing current income. | NEE HRTX |
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| 2023 Q3 | Sep 30, 2023 | Matrix Large Cap Value Strategy | 0.0% | 0.0% | AAPL, AEP, AMGN, AMZN, BKNG, CMCSA, FDX, FI, GOOGL, JPM, LHX, META, MSFT, NEE, PFE, RTX, TXN, UL, UNH, ZBH | dividends, Fed policy, inflation, large cap, rates, value | Interest rates rose sharply in Q3 with 10-year Treasury reaching 4.57%, highest since 2007. The Fed raised rates by 0.25% and signaled higher for longer policy. Matrix believes the Fed is nearing the end of its hiking cycle and expects rate cuts in 2024 as economic slowdown becomes evident. | NEE HRTX |
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| 2023 Q3 | Sep 10, 2023 | Crescat Capital – Global Macro Hedge Fund | 0.0% | -5.8% | NEE | gold, inflation, Macro, Mining, Stagflation, technology, Utilities | Crescat is excited about opportunities in the wrongfully distressed metals and mining industry. They view precious metals favorably for an upcoming stagflationary recession and expect commodities to perform well during the entire next economic expansion cycle. | View | |
| 2024 Q2 | Jul 17, 2024 | Madison Sustainable Equity Fund | 6.1% | 20.1% | A, AAPL, AMZN, COST, DHR, EFX, GOOGL, HD, JPM, LIN, LLY, MSFT, NEE, ORCL, PGR, QCOM, TGT, UNH, USB, V | Esg, healthcare, large cap, sustainability, technology, Utilities | AI is emerging as a key theme with Qualcomm benefiting from AI moving to smartphones through higher silicon content and potential share gains. Apple introduced Apple Intelligence at their developer conference as their answer for artificial intelligence. | EFX |
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| 2024 Q2 | Jul 17, 2024 | Madison Dividend Income Fund | 10.1% | 9.5% | ADP, AMZN, CMCSA, EOG, FAST, HD, HON, MDT, MS, NEE, TSLA, TXN | Concentration, dividends, Quality, technology, value | The fund focuses on high-quality dividend-paying stocks with above-average yields and sustainable competitive advantages. Portfolio holdings have increased dividends by nearly 8% on average over the past year, well above inflation rates. The fund's relative dividend yield of 2.20x versus the S&P 500 is at the highest level in 25 years. | View | |
| 2024 Q2 | Jun 30, 2024 | Polaris Global Equity | 6.9% | 12.7% | 000270.KS, 000660.KS, 066570.KS, 2338.HK, 8001.T, 8002.T, ALSN, ANTO.L, BARN.SW, CG, CVS, DG.PA, DTG.DE, ELV, FTK.DE, GNC.L, JAZZ, LKQ, LUN.TO, MEOH, MG, MPC, MSFT, MUV2.DE, NEE, NVS, OTEX, SRBANK.OL, SVEG.OL, TEP.PA, TSN, U11.SI, UNH, UTHR, WBS, WMB | AI, Copper, Energy Transition, financials, global, healthcare, value | Copper prices increased over 20% from mid-February to late May due to tight supply and high demand from energy transition applications like electric vehicles and AI automation. Lundin Mining and Antofagasta benefited from this copper price momentum. | View | |
| 2024 Q2 | Jun 30, 2024 | Fidelity Dividend Growth Fund | 4.4% | 25.2% | 005930.KS, AAPL, ALSN, AMZN, AVGO, CI, EIX, GOOGL, GPN, HD, JNJ, MRK, MU, NEE, NVDA, QCOM, TER, TSLA, TSM, VST | aerospace, AI, dividends, energy, large cap, semiconductors, technology, Utilities | The fund is focused on following the implications of the generative AI revolution for the U.S. economy, believing it could result in an expanded upgrade cycle for PCs and smartphones that incorporate new AI capabilities. The explosive growth of AI is seen as a key advantage for chip-related stocks, with positions in companies like Nvidia, Micron Technology, Qualcomm, and Samsung Electronics to leverage this opportunity. | View | |
| 2024 Q2 | Jun 30, 2024 | Munro Global Growth Fund | 0.0% | 0.0% | 000660.KS, AAPL, AIR.PA, AMAT, AMZN, ARM, ASML, CEG, CRH, FIX, MA, META, MSFT, NEE, NOW, NVDA, SN, TSM, V, WISE.L | AI, Data centers, energy, global, growth, semiconductors, technology | AI was a dominant theme driving performance across multiple Areas of Interest. High Performance Computing led by Nvidia saw significant earnings upgrades, while Connectivity benefited from device refresh cycles in smartphones and PCs. The fund sees AI as the beginning of a multi-year growth runway with hyperscalers continuing to accelerate capex spending. | SN TSM |
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| 2022 Q2 | Jun 30, 2022 | Artisan Focus Fund | 7.0% | 28.7% | NEE | - | View | ||
| 2023 Q1 | Apr 28, 2023 | NZS Capital – Select | 15.6% | 15.6% | ABNB, AMZN, ASML, BALL, CDNS, CRM, CSGP, CSTM, DHR, GOOGL, LIN, MELI, MRNA, MU, NEE, NTDOY, NVDA, ORSTED.CO, TSM, WDAY | AI, Digital Transition, growth, innovation, semiconductors, technology | Generative AI is accelerating innovation and disruption across sectors, with ChatGPT reaching 100M users faster than any app in history. Enterprise SaaS companies must adopt AI strategies or risk being displaced by new entrants. The firm adjusted portfolio positioning to favor early AI beneficiaries and infrastructure providers. | View | |
| 2023 Q1 | Apr 28, 2023 | NZS Capital – Technology | 19.9% | 19.9% | ABNB, AMZN, ASML, BALL, CDNS, CRM, CSGP, CSTM, DHR, GOOGL, LIN, MELI, MRNA, MU, NEE, NTDOY, NVDA, ORSTED.CO, TSM, WDAY | AI, Digital Transition, growth, innovation, semiconductors, technology | Generative AI is accelerating innovation and disruption across sectors, with ChatGPT reaching 100M users in two months. Enterprise SaaS companies need AI strategies or risk being displaced by new entrants. The firm adjusted portfolio positioning to favor early AI beneficiaries and infrastructure providers. | View | |
| 2025 Q1 | Mar 31, 2025 | Madison Dividend Income Fund | 3.2% | 3.2% | ADP, BLK, CME, EOG, HD, HON, JNJ, MDT, MS, NEE | Defensive, dividends, income, industrials, Quality, Relative Yield, value | The fund employs a relative yield strategy, buying stocks with dividend yields at least 1.1x the S&P 500. Portfolio holdings have increased dividends by nearly 8% on average over the past year, well above inflation. The fund maintains an absolute dividend yield of 2.6% compared to 1.34% for the S&P 500. | HON |
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| 2024 Q1 | Mar 31, 2024 | Miller Howard Investments MLP Strategy | 0.0% | 0.0% | AES, AM, ATO, BCE, CEG, CMCSA, CMS, CNP, CNQ, CSCO, CVX, DTE, EOG, EPD, EWBC, EXC, FTS, GILD, HESM, IPG, JPM, KMI, KO, LAMR, LBRT, LNG, MPC, NEE, NTR, OKE, ORI, PAGP, PCG, PEG, POR, SRE, STAG, TMUS, TRGP, TTE, UPS, VST, WM | dividends, energy, income, infrastructure, Midstream, Utilities, value | The letter extensively analyzes dividend investing, arguing that high-yield dividend stocks have historically outperformed the S&P 500 by 1.3% annually over 75 years with lower volatility. The manager believes dividend stocks are positioned for a revival as market concentration reverses. | View | |
| 2024 Q1 | Mar 31, 2024 | Miller Howard Investments Utilities Plus | 0.0% | 0.0% | AAPL, AES, AM, AMZN, ATO, BCE, CEG, CMCSA, CMS, CNP, CNQ, CSCO, CVX, DTE, EOG, EPD, EWBC, EXC, FTS, GILD, GOOGL, HESM, IPG, JNJ, JPM, KMI, KO, LAMR, LBRT, LNG, META, MPC, MSFT, NEE, NTAP, NTR, NVDA, OKE, ORCL, ORI, PAGP, PCG, PEG, POR, QCOM, SRE, STAG, TMUS, TRGP, TSLA, TTE, UPS, VST, WM | AI, dividends, energy, growth, Utilities, valuation | High-yield dividend stocks have historically outperformed the S&P 500 by 1.3% annually over 75 years with lower volatility. Recent underperformance is attributed to market concentration in mega-cap tech stocks with low dividend yields. The manager expects dividend stocks to resume outperformance when market concentration reverses. | View | |
| 2023 Q1 | Mar 31, 2023 | ClearBridge Investments Large Cap Growth Strategy | 0.0% | 0.0% | LLY, MSFT, NEE, NVDA | - | View | ||
| 2024 Q4 | Jan 30, 2025 | Aristotle Core Equity Fund | 3.9% | 26.0% | AAPL, AMZN, AVGO, AVY, CI, COST, CRWD, DAR, GE, GOOGL, GTLS, JPM, MCHP, META, MSFT, NEE, NOW, NVDA, SPR, ZTS | aerospace, AI, cybersecurity, growth, large cap, technology | Broadcom demonstrated continuing strength in its artificial intelligence networking and custom accelerator semiconductor business. The company provided long-term guidance for the service addressable market opportunity for its AI-related business, indicating a market opportunity of $60 billion to $90 billion. CrowdStrike benefits from increasing threats from state-sanctioned cybercriminals using high-performance computing and AI, necessitating higher spending on advanced cybersecurity products. | CRWD GE |
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| 2023 Q4 | Jan 16, 2024 | NZS Capital – Growth | 4.0% | 22.0% | ADSK, ADYEN.AS, AMD, AMZN, ANSS, ASML, BALL, CCJ, DHR, GTLS, MRNA, MSFT, NEE, NVDA, RGEN, SHOP, SWAV, TSLA, TT, WDAY | AI, Cloud, Energy Transition, growth, innovation, semiconductors, technology | AI will have transformational impact on society and the economy, drawing focus outside of IT including healthcare. The FDA approved the first CRISPR/Cas9 gene-edited therapy, marking the precipice of curative therapies. AI is boosting digital transformation of scientific research and accelerating innovation in scientific discovery. | 1102 TT |
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| 2023 Q4 | Jan 14, 2024 | Madison Dividend Income Fund | 10.1% | 9.5% | APD, BLK, BMY, CMCSA, CME, EOG, FAST, HD, MDT, MS, NEE, PFE | dividends, healthcare, Quality, staples, underperformance, Utilities, value | Fund focuses on above-average dividend yield stocks using Relative Yield process, investing in stocks yielding 1.1x the S&P 500 dividend yield. Portfolio holdings raised dividends 7% over the past year with continued dividend increases expected going forward. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Matrix Dividend Income | NextEra Energy | Utilities | Electric Utilities | Bull | NYSE | Battery Storage, dividend, Electric Utility, Florida, regulated utility, renewable energy, Solar, utilities, Wind | View Pitch |
| Apr 28, 2026 | Fund Letters | Matrix Large Cap Value Strategy | NextEra Energy | Utilities | Electric Utilities | Bull | NYSE | Battery Storage, Dividend Growth, Florida, regulated utility, renewable energy, Solar, utilities, Value, Wind | View Pitch |
| Apr 13, 2026 | Fund Letters | Andrew Hill Investment Advisors | NextEra Energy, Inc. | Utilities | Electric Utilities | Bull | NYSE | AI power demand, clean energy, Electric Utilities, energy transition, regulated utility, renewable energy, utilities | View Pitch |
| Mar 31, 2026 | Seeking Alpha | Seeking Alpha | NextEra Energy, Inc. | Utilities | Renewable Energy | Bull | New York Stock Exchange | Dividend Growth, earnings growth, energy infrastructure, income portfolio, investment opportunity, long-term prospects, NextEra Energy, renewable energy, sustainable energy, utilities | View Pitch |
| Jan 8, 2026 | Fund Letters | Maya Bittar | NextEra Energy, Inc. | Utilities | Electric Utilities | Bull | New York Stock Exchange | backlog, dividends, Regulation, renewables, utilities | View Pitch |
| Nov 29, 2025 | Fund Letters | Michael A. Lippert | NextEra Energy, Inc. | Utilities | Electric Utilities | Bull | NYSE | Demographics, dividends, ratebase, Regulation, renewables, Solar, utilities, Wind | 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. | ||||||||