PCH

PCH

PCH

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 22, 2025	Longleaf Partners Small-Cap Fund	2.7%	4.2%	BATRA, CUERVO* MM, OSCR, PCH, SAM, WEST	Balance Sheets, mispricing, small caps, value creation, volatility	The letter emphasizes small-cap investing as a fertile area for mispricing due to neglect and volatility. Management highlights stock-specific value creation, aligned owners, and balance sheet strength. Small caps are viewed as offering superior long-term return potential despite near-term uncertainty.	PCH SAM WEST BATRA CUERVO MM OSCR	View
2024 Q1	May 7, 2024	Bernzott Capital Advisors – US Small Cap	8.5%	8.5%	AROC, HCI, HHH, LANC, MP, PCH, PLXS	-			View
2025 Q3	Oct 15, 2025	Longleaf Partners Fund	-0.3%	-0.4%	ACI, BIO, CNX, EXO NA, FDX, FIS, IAC, KHC, MAT, PCH, PVH, REGN, RYN	Capital Allocation, free cash flow, Market cycles, Quality Companies, Value Investing	Longleaf reiterates its focus on long-term value and high free cash flow per share growth amid market froth driven by AI hype and mega-cap valuations. The fund holds concentrated positions in cash-generative firms like CNX, Kraft Heinz, and FedEx, emphasizing operational discipline and capital allocation. Management expects re-rating potential as fundamentals outweigh speculation.	BIO REGN PCH RYN ACI FDX MGM IAC KHC MAT CNX	View
2025 Q3	Oct 15, 2025	Longleaf Partners Global Fund	2.6%	10.9%	4613 JP, ACI, CAN LN, CNX, EXO NA, GLB LN, IAC, MAT, PCH, PHG, PVH, RYN	Compounding, free cash flow, Global Equities, Quality, Value Investing	Longleafs Global Fund emphasizes owning real-asset and cash-flow-generating businesses while avoiding speculative overvaluation driven by AI exuberance. Management sees opportunity in undervalued holdings such as timber, media, and consumer companies trading at low free cash flow multiples. The portfolio remains positioned for durable compounding through disciplined capital allocation and improving fundamentals.	PVH 4613 JP	View
2025 Q3	Oct 15, 2025	Longleaf Partners Small-Cap Fund	2.0%	6.4%	CLW, CNX, CUERVO* MM, GHC, GRUMAB MM, MAT, OSCR, PCH, RYN, TRIP, WTM	Compounding, free cash flow, Share repurchase, small caps, Value Investing	Longleafs Small-Cap Fund focuses on undervalued, high-quality small-cap franchises generating strong free cash flow. The team notes speculative excess in unprofitable small caps but remains confident in holdings such as Gruma, Becle, and White Mountains, which have multiple catalysts for value realization. Management sees substantial upside from disciplined ownership and shareholder alignment.	TRIP US MAT US WFG US CNX US	View
2022 Q3	Oct 10, 2022	Horizon Kinetics	0.0%	0.0%	ALS CN, LIF CN, PCH, RYN, TPL	-			View
2025 Q4	Jan 14, 2026	Longleaf Partners Fund	-0.3%	-0.4%	ACI, AMG, ANGI, AVTR, CNX, DINO, DIS, EXO.MI, FDX, H, IAC, KHC, MAT, MGM, PCH, PVH, PYPL, REGN, RTX, RYN	Buybacks, Cash, Defensive, Leverage, Quality, value	Fund focuses on undervalued companies trading below intrinsic value with P/V ratio in low-60s%. Manager emphasizes buying quality companies at discounts and waiting for market recognition of value. Multiple portfolio companies engaged in significant share repurchases including Mattel ($600M), Regeneron, MGM (40% over 5 years), and PVH. Manager views buybacks as value-creating at current discounted prices. Holdings include Mattel with strong IP portfolio (Hot Wheels, Barbie, UNO) and upcoming movie releases, plus IAC's digital assets. Focus on companies with valuable content and intellectual property.	ANGI PVH PYPL MGM IAC REGN MAT DINO KHC	View
2025 Q4	Jan 14, 2026	Longleaf Partners Small-Cap Fund	1.1%	7.6%	ALX, CLW, CNX, CUERVO.MX, ESRT, GHC, GLIBA, GRUMA.MX, MAT, PCH, RYN, SAM, SHEN, TRIP, WTM	Alcohol, Media, real estate, small cap, Telecommunications, undervalued, value	Fund focuses on undervalued companies trading below intrinsic value with P/V ratios in low-60s%. Manager emphasizes buying quality companies at discounted prices when market favors unprofitable, lower quality stocks. Significant exposure to alcoholic beverage companies including Becle (tequila/whiskey manufacturer) and Boston Beer. Alcohol industry faces consumption headwinds but companies have strong brands and pricing power. Holdings in Empire State Realty and Alexander's provide exposure to New York real estate. Despite political concerns about Mayor Mamdani, on-the-ground leasing trends outpace weak stock performance. Graham Holdings diversified conglomerate includes broadcast television assets that could benefit from increased M&A activity. Kaplan education segment returning to growth after multi-year turnaround.	PK ALX ESRT CLW SAM OSCR MAT GHC GLIBA	View
2024 Q2	Jul 23, 2024	Longleaf Partners Small-Cap Fund	8.9%	11.5%	HOUS, KODK, MAT, OSCR, PCH	-			View
2025 Q1	Mar 31, 2025	Heartland Value Fund	-5.6%	-5.6%	CMCO, NGD CN, PCH	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 8, 2026	Fund Letters	Ross Glotzbach	PotlatchDeltic Corporation	Real Estate	Timber REITs	Bull	NASDAQ	Asset_Value, dividends, Housing, realestate, Timber	View Pitch
Nov 29, 2025	Fund Letters	Ross Glotzbach	PotlatchDeltic Corporation	Real Estate	Specialized REITs (Timber)	Bull	NASDAQ	Hbu, Mills, Optimization, REIT, synergy, Timber, valuation	View Pitch
Oct 15, 2025	Seeking Alpha	Seeking Alpha	PotlatchDeltic Corporation		REIT - Specialty	Neutral		housing market, leverage, lumber market, merger, PotlatchDeltic Corporation, Rayonier Inc., Real Estate, synergies, timberland, valuation	View Pitch

BSD Shareholders of PCH

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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