ODFL

ODFL

ODFL

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q2	Jul 7, 2024	Seeking Winners	2.3%	16.7%	ATD CN, EVO SS, ODFL	-			View
2023 Q2	Jul 25, 2023	Ironvine Capital Partners, LLC	-	14.4%	ADBE, DLTR, HEI, ODFL, UNH	-			View
2024 Q2	Jul 16, 2024	The Bristol Gate U.S. Equity Strategy	-0.4%	6.1%	AMAT, AVGO, CNR, DOL CN, IIP-U CN, ODFL, OTEX, SHW	-			View
2024 Q2	Jul 12, 2024	Parnassus Growth Equity Fund	3.3%	21.0%	AAPL, ADYEN NA, AMAT, AZN LN, CRM, GOOG, MSCI, NTRA, NVDA, ODFL, PANW, PCOR, TSM, WDAY	-			View
2025 Q2	Jul 11, 2025	Hennessy Equity and Income Fund	-	-	ENTG, HD, ODFL	downside protection, Pricing Power, Quality, returns on capital, shareholder yield	The letter emphasizes quality companies with high returns on capital, strong pricing power, and balance sheet flexibility as protection against volatility and tariff uncertainty. Management positions downside mitigation and shareholder yield as key drivers of near-term returns in both equities and fixed income. Selective credit exposure and disciplined duration management reinforce portfolio resilience.		View
2024 Q1	Jun 16, 2024	Bonhoeffer Capital Management	11.3%	0.0%	005300 KS, ABG, ARW, FFBB, ODFL, TIGO, WBD, WILWY	-			View
2025 Q1	Apr 15, 2024	The London Company Large Cap	2.3%	2.3%	BLK, BRK/B, BRKR, ENTG, FDX, GOOG, HD, ODFL, PGR, RSG	-			View
2024 Q4	Dec 31, 2024	Conestoga Micro Cap Composite	9.9%	13.5%	ERII, MEG, NABL, NVEE, ODFL, OLO, PCTY, PL, ROAD, TBRD CN, TFX, TKNO, TRNS, UTI	-			View
2024 Q4	Dec 31, 2024	Parnassus Mid Cap Growth Fund	-2.5%	10.6%	A, ADYEY, ALGN, CSGP, DDOG, EFX, FTNT, GWRE, IDXX, KLAC, MELI, MTD, ODFL, PCOR, PGR, POOL, ROK, SHW, SQ, TEAM, TT, XYZ	-			View
2022 Q4	Dec 31, 2023	Zelikovic Investments / Tavor Capital	-	-	BAM, EXO NA, HEI, IAC, KKR, MSFT, ODFL, TPL	-			View
2025 Q3	Oct 9, 2025	ClearBridge Investments Dividend Strategy	-	-	AVGO, MMC, ODFL, ORCL	Artificial Intelligence, defense, Dividend Investing, inflation, valuation	The strategy stresses dividend growth as an all-weather approach amid elevated valuations and market concentration. Flexible dividend policies allow participation in growth sectors like AI while maintaining capital discipline and downside resilience. Dividend growers offer income, inflation protection, and lower volatility across cycles.	ODFL MARSH LHX TEL ORCL AVGO	View
2023 Q3	Oct 31, 2023	The London Company Large Cap	8.1%	14.6%	ALB, GOOG, MLM, NEU, NSC, ODFL	-			View
2025 Q3	Oct 28, 2025	The London Company Large Cap	6.2%	8.1%	BRKR, EQH, FI, GOOG, NEU, ODFL, PGR, TEL	Artificial Intelligence, earnings, financials, Quality Investing, value	The portfolio modestly underperformed the benchmark as concentration in megacaps and volatility favored speculative names. Strong contributions from Alphabet and TE Connectivity reflected AI adoption and efficiency gains, while Fiserv and Progressive weighed on results. Management expects a rotation back toward quality and value discipline as valuations and concentration risks heighten in AI-driven markets.	EQH GOOG EQH GOOG	View
2025 Q3	Oct 20, 2025	Pelican Bay Capital Management	7.8%	11.2%	CPAY, ELV, EOG, FIS, GOOG, ODFL, UNH	AI, Freight, gold, Health Insurance, value	Pelican Bay reports strong returns from gold miners and AI-linked technology companies, including Barrick and Micron. The fund initiated new positions in Old Dominion Freight and Elevance Health, emphasizing durable competitive advantages, strong balance sheets, and discounted valuations. Management expects normalization in healthcare margins and sees long-term compounding potential in quality value stocks.	ELV ODFL GOOG MU ELV ODFL MU	View
2025 Q3	Oct 15, 2025	Parnassus Mid Cap Growth Fund	7.9%	-	APP, CMG, GWW, HOOD, ICLR, JBHT, KLA GR, MELI, MORN, ODFL, PODD, SNDK, TEAM, TER, TTD, VRSK	Artificial Intelligence, industrials, Nearshoring, semiconductors, software	The fund attributes outperformance to AI-related semiconductor and software positions, emphasizing the ongoing megatrend driving system-on-chip, testing, and storage demand. Managers highlight new exposure to industrial distributors like W.W. Grainger, reflecting conviction in nearshoring and manufacturing recovery themes. They maintain selective positioning across AI and cyclical sectors to capture both structural growth and economic normalization.		View
2023 Q2	Oct 7, 2023	SVN Capital Fund	0.0%	29.4%	0QTE LN, CPRT, HEI, KNSL, ODFL, RMS FP	-			View
2025 Q4	Jan 7, 2026	ClearBridge Investments Dividend Strategy	0.0%	0.0%	AAPL, ADP, APD, AVGO, GOOGL, ITX.MC, KO, LHX, META, MMC, MSFT, NESN.SW, NVDA, ODFL, ORCL, TEL, TMUS, UL, UNP, XOM	AI, Concentration, diversification, dividends, large cap, semiconductors, technology, value	AI will radically change lives, labor markets and the economy, but investors already ascribe trillions of dollars of value to AI-related enterprises while aggregate AI-related revenues are minimal relative to embedded expectations. The landscape is evolving too swiftly to conclude today's favored players will be ultimate winners, with fundamental questions remaining about LLM commoditization and revenue sustainability. The strategy's average holding has grown its dividend at 10% over the last 12 months with similar growth expected in coming years. The fund maintains focus on dividend-paying companies as part of its core investment approach and diversification strategy. The ClearBridge Dividend Strategy trades at a significant discount to the broader market with a P/E ratio of 19.8x versus 24.7x for the S&P 500. The managers value securities based on free cash flow yields and gravitate toward those with asymmetric risk-reward profiles.		View
2025 Q4	Jan 23, 2026	Bell Global Emerging Companies Fund	-1.8%	-5.9%	3064.T, 6146.T, AMS.MC, AUTO.L, BJ, BOOT, CHKP, CNM, COR, CPG.L, DB1.DE, GWW, LPLA, MSCI, ODFL, PCTY, SCI, TSCO, TTC, TTI.HK, VEEV, WKL.AS	global, industrials, Quality, SMID Cap, technology, value	The fund follows a Quality at a Reasonable Price (QARP) approach, focusing on consistently high returning companies with durable growth characteristics. 2025 was challenging for this style as markets favored momentum and sentiment-driven narratives over fundamentals, but the team believes quality investing will reassert itself as markets become more earnings driven. The fund invests in global small and mid cap equities with 30-60 holdings, maintaining benchmark agnostic positioning. The portfolio targets companies with market capitalizations in the SMID cap range, seeking to outperform the MSCI World SMID Cap Index over rolling three-year periods. The fund emphasizes valuation discipline as part of its QARP approach, seeking quality companies at reasonable prices. Many high-quality businesses in the portfolio are trading at compelling valuations, with the portfolio's weighted upside potential sitting at the upper end of historical ranges based on conservative assumptions.	VEEV AUTO LN COR TSCO CNM TTC 3064 JP 6146 JP CPG LN LPLA GWW ODFL	View
2025 Q4	Jan 23, 2026	Bell Global Equities Fund	-1.5%	0.0%	3064.T, 6098.T, 8697.T, AAPL, ACN, AMZN, AUTO.L, AVGO, BOOT, GOOGL, GWW, JPM, LPLA, META, MSFT, NVDA, ODFL, SAP.DE, SNPS, TSCO, V	financials, Global Equities, industrials, QARP, Quality, technology	Bell maintains a Quality at a Reasonable Price (QARP) approach despite challenging performance in 2025. The team believes quality investing periods of underperformance often create compelling opportunities to lean in as fundamentals ultimately reassert themselves and valuations matter again. The portfolio benefits from sustained demand from AI-driven data centre investment, with technology companies like NVIDIA representing significant holdings. AI infrastructure continues to drive performance across multiple portfolio positions.	JKHY LPLA GWW TSCO ODFL	View
2025 Q4	Jan 22, 2026	Pelican Bay Capital Management	8.5%	20.6%	ACM, BF.B, BLDR, CME, CSCO, FDS, GNRC, Gold, GOOG, MU, ODFL, ON, TOL, ZTS	AI, concentrated, healthcare, Homebuilders, Quality, semiconductors, technology, value	Portfolio benefited from strong performance in AI-related businesses, particularly Alphabet which established itself as a leading player with its Gemini Large Language Model alongside Claude and ChatGPT. The manager notes perception has improved significantly since initially purchasing GOOG in March 2023 when consensus was that Google missed the AI boom. Core investment philosophy centers on investing in high-quality companies with durable competitive advantages when they trade at steep discounts to intrinsic value. The manager emphasizes the importance of maintaining wide margins of safety and only investing when securities trade below the bottom end of their intrinsic value ranges. Homebuilding companies were weak performers due to elevated mortgage rates and slowdown in new home sales souring investor sentiment. However, the manager remains bullish on long-term prospects believing there is a housing shortage and these companies trade at large discounts to intrinsic values, adding to positions in both BLDR and TOL.	GOOGL ONON ZTS FDS ACM	View
2025 Q4	Jan 20, 2026	The Bristol Gate U.S. Equity Strategy	0.0%	0.0%	ACN, AMAT, AVGO, CARR, CTAS, GE, IBKR, LLY, MSFT, ODFL, TMO, UNH, ZTS	AI, dividends, healthcare, Quality, semiconductors, technology, value	Bristol Gate focuses on companies with robust free cash flows and disciplined capital allocation that deliver superior risk-adjusted returns through sustainable dividend policies. Portfolio companies grew dividends by 14.3% over the last twelve months compared to 5.6% for the S&P 500. The firm believes dividend growth rates are powerful predictors of total return and fastest dividend growers often outperform the broader dividend universe. Since ChatGPT's launch in late 2022, the market has experienced a seismic shift with investor capital concentrating heavily in AI leaders, creating narrow market breadth. Bristol Gate devotes significant resources to data science and machine learning in their investment approach, believing in AI's transformative power. However, their focus remains on identifying high dividend growth companies rather than over-concentrating in AI themes. Eli Lilly continues to benefit from the strength of its incretin portfolio, commanding 58% of the US incretin market and exiting Q3 with 71% of new prescriptions. The company raised annual guidance for the third time in 2025, with strength expected to continue into 2026 when its oral GLP-1 drug orforglipron hits the market in Spring. The oral alternative is expected to significantly expand the market globally due to ease of use, simpler supply chain, and lower cost. Applied Materials rose despite mixed results due to AI-driven demand optimism, specifically around advanced logic and high bandwidth memory chips. Management issued cautiously optimistic Q1 2026 outlook and forecast significant uplift in second half of calendar 2026 as spending shifts back toward AMAT's strengths. Analog semiconductor companies have been reporting improving results, signaling a shift in real-world manufacturing and consumer spending.	IBKR ZTS TMO AMAT LLY	View
2025 Q4	Jan 18, 2026	Parnassus Mid Cap Growth Fund	-0.8%	9.2%	ALC, APP, BILL, BLDR, DASH, GWW, HLT, HUBB, INSM, MORN, MPWR, ODFL, PWR, ROK, SN, SQ, TEAM, TER, WCN, WDAY	AI, growth, industrials, mid cap, portfolio, semiconductors, technology	The ongoing AI megatrend boosted demand for memory and storage while industry supply growth remained constrained. Holdings in Information Technology sector were dominant contributors through exposure to AI, primarily through semiconductor companies. The fund continues to see accelerating demand for AI models and cloud computing with no signs of slowdown. Semiconductor companies were primary beneficiaries of AI demand. Teradyne is starting to win new sockets and gain market share after investing in AI-semiconductor testers. KLA benefited from AI infrastructure build-out with strong earnings growth. The fund increased exposure to high-quality industrial businesses with potential for cyclical upturn. Added Quanta Services for AI data center build-out, Hubbell for electrical grid upgrades, Old Dominion for freight cycle recovery, and Waste Connections for secondary market focus.	MTD ROK KLA TER SNDK	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	View
2025 Q4	Jan 12, 2026	ClearBridge Investment Growth Strategy	-	-	ALNY, AVGO, DLB, DOCS, ELF, FCX, HLT, HOOD, MSGE, MSGS, ODFL, ONON, SHOP, TEL, TJX, TKO, UNH, VRTX, VST, XPO	AI, balance, growth, innovation, semiconductors, technology, volatility	The letter outlines a balanced growth approach combining participation in AI-driven momentum with downside protection through diversified stock selection. Emphasis is placed on companies with durable fundamentals, innovation-led growth, and disciplined capital allocation. Growth investing is positioned as increasingly selective amid heightened volatility and dispersion.	ELF SHOP	View
2024 Q2	Jul 28, 2024	Weitz Multi Cap Equity Fund	10.4%	16.3%	BRK/B, CHTR, CSGP, LSXMK, ODFL	-			View
2024 Q2	Jul 28, 2024	Weitz Partners III Opportunity Fund	9.1%	14.1%	AON, CSGP, GPN, IEX, LYV, ODFL, SIRI	-			View
2024 Q2	Jul 28, 2024	Weitz Large Cap Equity Fund	7.8%	13.3%	CSGP, CSU, IEX, META, ODFL, VMC	-			View
2024 Q2	Jul 22, 2024	The London Company Large Cap	8.1%	14.6%	ALB, APD, GOOG, MLM, NEU, NSC, ODFL, TEL, TXN	-			View
2024 Q2	Jul 15, 2024	Wedgewood Partners	5.8%	22.4%	AAPL, BKNG, CDW, GOOG, MSI, ODFL, POOL, PYPL, TSM, V	-			View
2023 Q1	Apr 20, 2023	The London Company Large Cap	8.1%	14.6%	BLK, CVX, FDX, GOOG, NSC, ODFL, SCHW, STOR	-			View
2024 Q4	Jan 29, 2025	Weitz Partners III Opportunity Fund	1.1%	15.4%	ODFL, TECH	-			View
2023 Q4	Jan 13, 2024	Wedgewood Partners	5.8%	22.4%	AAPL, EW, GOOG, META, MSFT, MSI, ODFL, ORLY, PYPL, TPL, TSCO, TSM, UHG	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 28, 2026	Fund Letters	Ned Bell	Old Dominion Freight Line Inc.	Industrials	Cargo Ground Transportation	Bull	NASDAQ	Cyclicals, Logistics, Ltl, Pricing, Trucking	View Pitch
Jan 27, 2026	Fund Letters	Ned Bell	Old Dominion Freight Line, Inc.	Industrials	Trucking	Bull	NASDAQ	Cyclicality, Freight, Ltl, Margins, Pricingpower	View Pitch
Jan 16, 2026	Fund Letters	David A. Rolfe	Old Dominion Freight Line, Inc.	Industrials	Cargo Ground Transportation	Bull	NASDAQ	Cyclicality, efficiency, Freight, Logistics, Pricing	View Pitch
Nov 29, 2025	Fund Letters	John Baldi	Old Dominion Freight Line Inc.	Industrials	Trucking	Bull	NASDAQ	dividends, Industrials, Logistics, Margins, recovery, Transportation, Trucking	View Pitch
Nov 29, 2025	Fund Letters	Tyler Hardt	Old Dominion Freight Line Inc.	Industrials	Trucking & Logistics	Bull	NASDAQ	FCF, Logistics, Ltl, Pricing power, recovery, Reinvestment, ROIC, Trucking	View Pitch
Nov 28, 2025	Fund Letters	Tyler Hardt	Old Dominion Freight Line Inc.	Industrials	Trucking & Logistics	Bull	NASDAQ	FCF, Logistics, Ltl, Pricing power, recovery, Reinvestment, ROIC, Trucking	View Pitch

BSD Shareholders of ODFL

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

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.

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