Join for free and get access to the buyside
Get insights from the world's most influential hedge fund investors direct to your inbox
- © 2025 Buyside Digest
- Privacy Policy
- Disclaimer
- Sitemap
- Terms of Service
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 11, 2025 | Heartland Value Plus Fund | 1.9% | -6.5% | GTES, NVST, SIMO | Balance Sheets, cash flow, Margin Of Safety, valuation, value | The letter emphasizes disciplined value investing focused on companies trading below intrinsic value due to cyclical, temporary, or behavioral mispricing. Management highlights balance sheet strength, cash flow durability, and downside protection as critical in a late-cycle environment. The fund positions value as a long-term alpha source as market leadership broadens beyond expensive growth stocks. | NVST SIMO GTES |
View |
| 2024 Q1 | Apr 15, 2024 | Ariel Fund | 12.1% | 0.0% | ATGE, MHK, MSGE, NVST, PARA, SNA, SPHR | - | View | ||
| 2024 Q1 | Apr 15, 2024 | Ariel Appreciation Fund | 9.9% | 0.0% | BIO, KN, LAZ, MSGE, NVST, NVT, WBA | - | View | ||
| 2025 Q4 | Jan 21, 2026 | Zeno Equity Partners LLP | 0.0% | 0.0% | BRK-A, DHR, FTV, GE, ITW, JCI, NVST, VRLT | Biotechnology, Capital Allocation, Conglomerates, Ownership, Spin-Offs, value creation | Danaher has transformed into a pure play Bioprocessing, Life Sciences and Diagnostics business through strategic acquisitions and spin-offs. The company acquired Pall Systems for $14 billion to gain foothold in bioprocessing space and later acquired GE Biopharma, focusing on manufacturing and sales of consumables and equipment used in production of biotech drugs. The letter discusses how executives typically monetize stock options regularly in the market through stock ownership programs, contrasting this with founder-owners who maintain substantial long-term shareholdings. This highlights different approaches to capital allocation and ownership alignment. | DHR |
View |
| 2025 Q4 | Jan 21, 2026 | Meridian Contrarian Fund | 2.2% | 0.0% | AMD, AMSC, ATZ.TO, AXS, CACI, CCK, DLTR, FCNCA, HNST, LASR, MIR, NVST, PENG, TCBI | AI, contrarian, defense, energy, semiconductors, small cap, turnaround, value | The fund continues to see long runways supporting artificial intelligence as a core theme. AI-related earnings drove early-period performance in the quarter. AMD made progress establishing its GPU servers as a viable alternative to Nvidia's offerings in the AI space. AMD emerged from underperformance with competitive technology positioning against Intel and Nvidia. The company's GPU servers are establishing viability as alternatives to Nvidia in AI applications. Technology leadership is generating market share gains and improved profits. Defense represents one of the portfolio's core themes with long runways for growth. The fund holds positions in defense-related companies including those serving naval programs and defense electronics applications. Electric grid upgrades represent a significant growth driver for portfolio companies. American Superconductor is positioned to benefit from demand for electric grid infrastructure improvements and expanding power transmission needs. The portfolio benefits from electrification and power themes as core investment areas. Companies are positioned to capitalize on rising power demand, wind power expansion, and infrastructure investment in the energy transition. | AMD ATZ CN DLTR HNST AMSC PENG |
View |
| 2023 Q3 | Sep 30, 2023 | Artisan Mid Cap Fund | 2.4% | 6.6% | 0KSR LN, A, BNTX, DXCM, GPN, IR, JBL, LSCC, NVST, SAIA, SWAV, TDY, TEAM, WING, ZS | - | View | ||
| 2023 Q3 | Sep 30, 2023 | Artisan Partners Small Cap Fund | 9.0% | 14.0% | 02B GR, 096 GR, ARGX, CCCS, EXAS, GNRC, GWRE, LSCC, MTSI, NTBL, NVST, PCOR, SPXC, STVN, SWAV, WCC, WMC | - | View | ||
| 2024 Q2 | Jul 31, 2024 | Ariel Fund | 12.1% | 0.0% | ADT, ATGE, LESL, NVST, RCL, SPHR | - | View | ||
| 2023 Q1 | Mar 31, 2023 | Oakmark Global Fund | 7.5% | 0.0% | AIG, CAP FP, COF, COP, ICE, NVST | - | View | ||
| 2023 Q4 | Feb 20, 2024 | Ariel Small Cap Value Strategy | 10.1% | 0.0% | CLB, JHG, JLL, LIND, MAT, NVST, OSW | - | View | ||
| 2023 Q4 | Jan 2, 2024 | Diamond Hill Small-Mid Cap Strategy | 8.4% | 9.2% | CIVI, CTRA, CUBE, ERII, FBIN, FHN, GDDY, LOB, NSP, NVST, RRR, ST, WBS, WCC, WNS | - | View | ||
| 2023 Q4 | Jan 2, 2024 | Diamond Hill Mid Cap | 8.3% | 13.3% | BWA, CIEN, CTRA, CUBE, FBIN, GDDY, NSP, NVST, PH, RRR, ST, VFC, WBS, WCC | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 8, 2026 | Fund Letters | Bradford Evans | Envista Holdings Corporation | Health Care | Health Care Equipment | Bull | New York Stock Exchange | buybacks, Dental, Margins, tariffs, 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 |
|---|---|---|---|---|---|---|---|---|
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $401,700 | 0.00% | 18,503 | -144,869 | -88.67% | 0.0086% |
| Richard Pzena | Pzena Investment Management | $33.4B | $50.5M | 0.15% | 2,325,859 | -89,007 | -3.69% | 1.0819% |
| Ray Dalio | Bridgewater Associates | $27.4B | $2.7M | 0.01% | 124,097 | +45,681 | +58.25% | 0.0577% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $2.1M | 0.00% | 95,726 | -1,095,232 | -91.96% | 0.0445% |
| Israel Englander | Millennium Management LLC | $233.2B | $52.6M | 0.02% | 2,420,615 | +2,263,712 | +1442.75% | 1.1260% |
| Cliff Asness | AQR Capital Management | $190.6B | $51.2M | 0.03% | 2,356,968 | +988,714 | +72.26% | 1.0964% |
| James E. Flynn | Deerfield Management | $6.9B | $49.5M | 0.72% | 2,280,498 | -13,538 | -0.59% | 1.0608% |
| John Rogers | Ariel Investment | $9.3B | $259.9M | 2.81% | 11,970,544 | -33,661 | -0.28% | 5.5682% |
| Bob Wyckoff | Tweedy Browne CO LLC | $1.2B | $31.3M | 2.53% | 1,443,333 | -9,041 | -0.62% | 0.6714% |