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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 24, 2025 | Voya MI Dynamic Small Cap Fund (formerly Voya Small Company Fund) | - | - | HIMS, MGNI, MUR, NSP, NVT, RKLB | AI, fundamentals, growth, small caps, stock selection | The letter emphasizes high-quality small-cap companies benefiting from sustainable growth trends and improving fundamentals. Management highlights AI-driven tailwinds, expanding leadership, and defensive sector opportunities. Stock selection discipline is positioned as critical amid elevated volatility. | View | |
| 2025 Q2 | Jul 17, 2025 | Ariel Appreciation Fund | 5.8% | - | CLB, FI, GS, KMX, NTRS, NVT, SLB, SPHR | Discipline, fundamentals, Mean reversion, valuation gaps, value | The letter emphasizes valuation discipline amid a market dominated by growth and momentum. Management highlights opportunities in overlooked, fundamentally strong companies trading at discounts to intrinsic value. The outlook is anchored in long-term mean reversion and fundamental recovery rather than macro forecasting. | GS FI KMX CLB |
View |
| 2024 Q1 | Apr 15, 2024 | Ariel Appreciation Fund | 9.9% | 0.0% | BIO, KN, LAZ, MSGE, NVST, NVT, WBA | - | View | ||
| 2024 Q1 | Apr 15, 2024 | Ariel Small Cap Value Strategy | 10.1% | 0.0% | CG, DNB, LAZ, LIND, MGPI, NVT, OSW, SPHR | - | View | ||
| 2024 Q1 | Apr 15, 2024 | Mairs & Power – Small Cap Fund | 0.0% | 9.0% | AZEK, CLFD, CVRX, DOC, KNF, MEDP, NVT, WK | - | View | ||
| 2025 Q4 | Feb 12, 2026 | Artemis US Select Fund (Class I Accumulation Shares GBP) | 7.0% | 10.0% | AMAT, AMD, AXON, CAH, CTVA, ETN, IQV, KO, LLY, LYV, META, MU, NVT, PH, RCL, WDC | AI, growth, healthcare, Pharmaceuticals, semiconductors, technology, US Equities | The manager expects greater dispersion between AI winners and losers, having demonstrated ability to analyze and identify these groups over the past three years. AMD rallied after announcing significant AI-related partnerships, positioning the fund to benefit from continued AI trade evolution. Healthcare is a sector the manager is optimistic about and has been building exposure to following an extended period of underperformance. Eli Lilly's obesity and diabetes franchise continues to exceed expectations, particularly with Mounjaro sales ahead of estimates. The fund increased semiconductor exposure during the quarter, with Micron completely selling out of memory chips and forecasting higher profit margins. Applied Materials was added as a new position in semiconductor wafer fabrication equipment. | View | |
| 2023 Q4 | Nov 1, 2024 | Upslope Capital Management | 14.8% | 18.1% | CHG LN, EMG LN, INTC, NVT, NWC CN | - | View | ||
| 2024 Q3 | Oct 14, 2024 | Upslope Capital Management | 14.8% | 18.1% | 7011 JP, 8697 JP, ATR, BARN SW, CHG LN, CME, CMPO, DPLM LN, DSFIR NA, FTT CN, GRMN, HSY, NVT, NWC CN, TDY, WPK CN | - | 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 18, 2026 | Mairs & Power – Small Cap Fund | 0.0% | 4.0% | ABT, AIR, BSY, CASY, CVRX, EXAS, INSP, KNF, MEDP, MGPI, NVT, WK | AI, earnings, healthcare, rates, small caps, technology, Valuations | 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 managers believe they are entering a transition period for AI, with signals that the cycle is moving into a higher risk phase given the flood of capital and unusual financing structures. Small cap companies are showing their first signs of earnings growth recovery after three years of contraction, posting 13% growth in 2025. Small cap stocks are still trading at a significant discount to the S&P 500, which the managers believe presents an attractive opportunity for long-term investors. Lower interest rates, reduced corporate tax burdens, and regulatory relief could offer further support to small caps. The Federal Reserve cut rates in the fourth quarter with expectations for lower interest rates continuing into 2026. Lower rates should provide a tailwind to profitability for smaller companies and make it easier for them to find talent. Interest rate changes take time to work through the economy, typically around a year to feel the effects. | View | |
| 2024 Q2 | Jul 23, 2024 | Mairs & Power – Growth Fund | 0.0% | 19.0% | NVDA, NVT, QCOM | - | View | ||
| 2024 Q2 | Jul 15, 2024 | Upslope Capital Management | 14.8% | 18.1% | 8697 JP, ATR, BARN SW, CACI, CHG LN, DPLM LN, DSFIR NL, DSFIY, FTT CN, GRMN, HSY, KOZ0 GR, NVT, NWG CN, TDY, WPK CN | - | View | ||
| 2024 Q4 | Jan 15, 2025 | Upslope Capital Management | -7.3% | 9.4% | 7011 JP, 8697 JP, ATR, CHG LN, CME, CMPO, CRL, DPLM LN, DSFIR NA, NVT, QQ LN, TDY, VFC | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| 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. | ||||||||