PGNY Archives

PGNY

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jun 30, 2025	Signia Capital Management	19.2%	6.9%	ARHS, FTK, GLDD, HMST, HZO, METC, OPRT, ORN, PGNY, RRGB, SEI, TGB, TRC, VPG	AI, Bottom-up, Copper, Microcap, Robotics, small caps, value	North American copper producer Taseko Mines delivered strong performance driven by rising copper prices and company-specific developments. The Florence mine in Arizona is expected to begin production in mid-2026, nearly doubling Taseko's copper output from 120 million pounds in 2025 to 200 million pounds by 2027. With copper prices above $5 per pound, TGB is well positioned to grow earnings and cash flow.	TGB VPG TGB VPG	View
2024 Q1	May 9, 2024	Polen Capital – U.S. SMID Company Growth	8.8%	-1.3%	BMBL, CNM, CWA, DAVA, ETSY, EXLS, GLOB, GNRC, HLI, MKTX, PGNY, RVLV, SITM, TECH, TREX, WING, YETI	consumer, growth, Quality, Restaurants, SMID Cap, technology, Water Infrastructure	Polen emphasizes investing in high-quality businesses with robust free cash flow, persistent growth, and high returns on capital. They consistently aim to own companies that are undervalued relative to their long-term compounding potential and favor businesses with robust balance sheets and the ability to reinvest in any environment.		View
2024 Q1	May 9, 2024	Polen Capital – U.S. Small Company Growth	7.4%	-0.9%	AMN, APPF, BMBL, CNM, CWAN, ENDV, EXLS, GLOB, GNRC, HLI, PGNY, SITM, WING	growth, momentum, Quality, small caps, technology, value	Polen emphasizes their focus on high-quality growth companies with robust free cash flow, persistent growth, and high returns on capital. They use their Flywheel framework to assess quality that supports sustainable growth, comprised of unique positioning, repeatable sales process, robust business model, effective management, and value-creating reinvestment.		View
2026 Q1	Apr 30, 2026	Voya MI Dynamic Small Cap Fund	-	-	CLF, KSS, MWA, PGNY, TPH, TROX	energy, financials, Geopolitical, growth, healthcare, small caps, technology, value		MWA TPH TROX PGNY CLF KSS	View
2025 Q1	Apr 23, 2025	Polen Capital – U.S. Small Company Growth	-10.8%	-10.8%	AAON, AIT, BROS, ELF, EXLS, FOXF, GLOB, GSHD, MEDP, MODG, NSIT, PCTY, PGNY, RMBS, RVLV, TECH, TREX, WRBY, YETI	consumer discretionary, growth, Portfolio Management, Quality, small caps, tariffs, volatility	The first quarter was marked by heightened volatility due to concerns about the Trump administration's emerging trade policies and global tariff imposition. The managers stress-tested their businesses across various tariff policy scenarios and made portfolio adjustments, particularly exiting Consumer Discretionary positions vulnerable to tariff uncertainty.	TECH RVLV ELF GLOB GSHD EXLS BROS	View
2025 Q1	Apr 22, 2025	Polen Capital – U.S. SMID Company Growth	-12.7%	-12.7%	ALGN, BAH, CRL, ELF, ENTG, ETSY, FIX, GLOB, GSHD, MANH, NSIT, PAYC, PGNY, RMBS, ROAD, RVLV, SAIA, TREX, WING, YETI	Construction, consumer discretionary, growth, Quality, SMID Cap, software, tariffs, volatility	Market volatility driven by Trump administration's tariff policies and trade uncertainty. Managers stress-testing portfolios across various tariff scenarios and exiting positions vulnerable to tariff impacts like Yeti and Align Technology due to China/Mexico manufacturing exposure.	MANH WING FIX ROAD SAIA	View
2022 Q3	Oct 26, 2022	Polen Capital – U.S. Small Company Growth	7.4%	-0.9%	AMN, AZTA, EEF GR, GSHD, PCTY, PGNY, WING, YETI	-			View
2024 Q3	Oct 23, 2024	Polen Capital – U.S. Small Company Growth	7.4%	-0.9%	AIT, ALIT, ALRM, APPF, BROS, DOCS, ELF, GSHD, HL, IBP, NSIT, NVEE, PCTY, PGNY, RGEN, RH, RMBS, ROAD, RVLV, SITM	growth, healthcare, Quality, small cap, technology, volatility	The fund focuses exclusively on U.S. small cap growth companies, noting that high-quality small cap companies have great latent potential for growth and are trading at significantly below-average valuations. The managers believe the highest quality small cap companies are more likely to take advantage of strong balance sheets and reinvestment to enhance their competitive position.		View
2023 Q3	Oct 19, 2023	Polen Capital – Global SMID Company Growth	7.4%	-2.4%	0696.HK, ALIT, CCCS, DOXY, FIVE, GSHD, MORN, PGNY, XPEL, YETI	Automotive, global, growth, healthcare, insurance, SMID Cap, technology	Goosehead Insurance delivered robust results with 31% revenue growth and 36% premium increases, continuing to execute its plan to clean up corporate organization and return to pre-COVID productivity metrics. The company benefits from strong broker upgrades and S&P Small Cap Index inclusion.	XPEL PGNY MORN 0696.HK AMDOCS FIVE ALIT CCCS YETI GSHD	View
2024 Q3	Oct 18, 2024	Polen Capital – U.S. SMID Company Growth	8.8%	-1.3%	AIT, ALIT, BAH, BLD, CWAN, DOCS, ELF, FIVE, GSHD, HLNE, MKTX, MPWR, PGNY, POOL, REVL, RGEN, RH, SITM, TTEK, TYL	Concentration, earnings, growth, Quality, SMID Cap, value, volatility	elf Beauty represents a discount beauty company focused on cosmetics and skincare with impressive track record for growth, margins, and returns on capital. The company is uniquely positioned due to its reputation for quality, innovation, and prices well below other mass cosmetics brands, with significant room for growth in brand awareness, shelf space expansion, and international markets.	BAH AIT BLD ELF PGNY HLNE RVLV GSHD	View
2024 Q3	Oct 18, 2024	Polen Capital – Global SMID Company Growth	7.4%	-2.4%	8112.HK, ALIT, BLD, CWAN, ELF, EXLS, FEVR.L, FIVE, GSHD, KNSL, MPWR, PGNY, REVG, TECH, TME, TTEK	global, growth, portfolio, Quality, SMID Cap	Polen focuses on high-quality companies with solid fundamentals, competitive advantages, and strong business models. The managers emphasize their disciplined approach to selecting companies that meet high hurdles for growth and returns. They maintain conviction in their quality growth-oriented portfolio despite recent volatility.		View
2024 Q3	Sep 30, 2024	Meridian Hedged Equity Fund	6.2%	0.0%	ABNB, AMZN, BABA, DHI, ICE, MGM, MSFT, PGNY, QCOM, SBH, V, VST, YOU	Beauty, Casinos, energy, Hedged Equity, Options, risk management, technology, Travel	Vistra Corp performed well due to tightening energy markets, strengthened pricing in forward-year energy contracts, and rising demand from data centers, electric vehicles, and manufacturing reshoring. These factors create a favorable pricing environment for Vistra's generation fleet, especially nuclear and gas assets.	AMZN MGM PGNY YOU SBH VST	View
2024 Q3	Sep 30, 2024	Alger Weatherbie Specialized Growth Fund	5.8%	9.5%	HLNE, MEG, NTRA, PGNY, PRO, STEP	AI, Cloud, Genomics, growth, healthcare, private markets, small cap, technology	AI is at an inflection point, potentially enabling significant increases in productivity. Utilities sector stocks are being viewed as a play on artificial intelligence given the high electricity consumption needed to power data centers running AI programs. However, Information Technology sector underperformed due to heightened scrutiny around AI spend, with market participants questioning whether the significant rise in AI-related capital expenditures would yield sufficient returns.	PRO PGNY MEG STEP NTRA HLNE	View
2024 Q2	Jul 31, 2024	Alger Weatherbie Specialized Growth Fund	5.8%	9.5%	GKOS, NTRA, PGNY, SITE, SPT, STEP	AI, Genomics, growth, healthcare, innovation, Medical Devices, small cap, technology	AI is at an inflection point, potentially enabling significant increases in productivity. Sustained enthusiasm for artificial intelligence boosted large cap technology stocks during the quarter. The fund continues to observe this secular theme as creating attractive investment opportunities.	SPT SITE PGNY GKOS NTRA STEP	View
2024 Q2	Jul 24, 2024	Polen Capital – Global SMID Company Growth	7.4%	-2.4%	0700.HK, 4480.T, ALIT, BMBL, CWAN, DATA.L, DLO, FIVE, MPWR, PAYC, PGNY, PME.AX, RVLV, TECH	AI, global, healthcare, quality growth, semiconductors, SMID Cap, technology, volatility	The letter discusses AI beneficiaries experiencing considerable hype and crowding, with Monolithic Power Systems specifically benefiting from AI-driven cloud-based CPU server applications in its enterprise data segment. The company saw compelling fundamentals largely due to growth in enterprise data driven by AI applications.	4480.T DATA.L ALIT PGNY DLO MPWR PME.AX TME	View
2024 Q2	Jul 24, 2024	Polen Capital – U.S. Small Company Growth	7.4%	-0.9%	AAON, AIT, ALIT, APPF, BL, CCCS, DAVA, DOXI, HELE, HLNE, IBP, OPCH, PGNY, RGEN, RH, ROAD, RVLV, SITM, SMCI, WING, WRBY, XPEL	growth, healthcare, Quality, rates, small caps, technology, volatility	The performance gap between small caps and large caps continued to widen during Q2, with small cap investors retreating to lower-volatility sectors. Small cap continues to be highly sensitive to shifting rate expectations, while leadership in large cap remains narrow and driven by momentum.		View
2024 Q2	Jul 23, 2024	Polen Capital – U.S. SMID Company Growth	8.8%	-1.3%	AAON, CCCS, DOXI, DT, EXL, FIVE, FND, KINS, MPWR, PAYC, PGNY, POOL, REVG, RGEN, RH, SITM, TREX, TTEK, TYL	AI, growth, healthcare, Quality, SMID Cap, technology, volatility	AI beneficiaries saw considerable hype and crowding, with companies like Monolithic Power Systems benefiting from growth in enterprise data segments driven by cloud-based CPU server applications including AI. However, exceptions exist with some AI-related stocks losing ground relative to first quarter results.	PGNY PAYC FIVE TTEK RGEN CCCS KGIC AAON	View
2022 Q2	Jun 30, 2022	Baron Discovery Fund	13.5%	9.3%	ALKT, ASGN, CDAY, CWAN, DAVA, DH, ESTA, GTLB, GWRE, MEG, PGNY, REXR, SAIL	-			View
2025 Q1	Mar 31, 2025	Alger Weatherbie Specialized Growth Fund	-19.5%	-19.5%	AGYS, PGNY, PLMR, SMTC, UPST, VSEC	AI, financials, growth, healthcare, industrials, small cap, technology	The emergence of advanced AI models from China demonstrated capabilities comparable to leading U.S. models but at significantly lower development costs, prompting investors to reassess substantial capital expenditures of U.S. large-cap technology companies and resulting in a sell-off in AI-related stocks. The fund continues to observe AI as being at an inflection point, potentially enabling significant increases in productivity.	AGYS UPST SMTC PGNY PLMR VSE	View
2024 Q4	Jan 23, 2025	Polen Capital – Global SMID Company Growth	7.4%	-2.4%	8112.T, ALIT, BLD, CWAN, ELF, EXLS, FEVR.L, FIVE, GSHD, KNSL, MPWR, PGNY, REVG, TECH, TME, TTEK	global, growth, Quality, SMID Cap, underperformance, volatility	Initiated position in elf Beauty, a cosmetics company with reputation for quality and innovation at considerably lower prices than other mass cosmetics brands. The company has robust growth potential with low brand awareness, expanding shelf space, growing product portfolio, and early international expansion opportunities.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
May 1, 2026	Fund Letters	Voya MI Dynamic Small Cap Fund	Progyny, Inc.	Healthcare Plans	Health Care Services	Bull	NASDAQ	Benefits Management, Fertility, growth, Healthcare services, SaaS	View Pitch
Apr 28, 2026	Fund Letters	Polen Capital - Global SMID Company Growth	Progyny	Health Care	Health Care Services	Bull	NASDAQ	Client Growth, Fertility Benefits, Healthcare services, High Returns on Capital, managed care, market share, Service Expansion	View Pitch
Apr 13, 2026	Fund Letters	Alger Weatherbie Specialized Growth Fund	Progyny, Inc.	Health Care	Health Care Services	Bull	NASDAQ	Benefits Management, Clinical Outcomes, Fertility Benefits, Health Care Services, IVF, Member Engagement, Utilization Trends	View Pitch
Apr 13, 2026	Fund Letters	Polen Capital - U.S. SMID Company Growth	Progyny	Health Care	Health Care Services	Bull	NASDAQ	Attractively Valued, Benefit Utilization, competitive moat, Employer Benefits, Fertility Benefits, IVF, Long Growth Runway, managed care	View Pitch
Apr 13, 2026	Fund Letters	Polen Capital - Global SMID Company Growth	Progyny	Health Care	Health Care Services	Bull	NASDAQ	Employee Benefits, Fertility Benefits, growth, healthcare, Healthcare services, IVF, managed care	View Pitch
Apr 13, 2026	Fund Letters	Alger Weatherbie Specialized Growth Fund	Progyny, Inc.	Health Care	Health Care Services	Bear	NASDAQ	Benefits Management, Fertility Benefits, Healthcare Benefits, IVF, Provider Network, Regulatory risk, Reproductive Health	View Pitch
Apr 13, 2026	Fund Letters	Polen Capital - U.S. SMID Company Growth	Progyny	Health Care	Health Care Services	Neutral	NASDAQ	Customer Loss, Fertility Benefits, Long-term Opportunity, managed care, Under Review, Utilization Trends	View Pitch
Apr 13, 2026	Fund Letters	Meridian Hedged Equity Fund	Progyny, Inc.	Health Care	Health Care Services	Bear	NASDAQ	Client Loss, competitive pressures, Egg Freezing, Employer Benefits, exit, Fertility Benefits, Health Care Services, IVF	View Pitch
Apr 13, 2026	Fund Letters	Alger Weatherbie Specialized Growth Fund	Progyny, Inc.	Health Care	Health Care Services	Bull	NASDAQ	Clinical Outcomes, Employer Benefits, Fertility Benefits, Healthcare services, IVF, Provider Network, Reproductive Health	View Pitch
Sep 16, 2025	Short Thesis	Spruce Point	Progyny Inc	Health Care	Managed Health Care	Bear	NASDAQ	Benefits, Competition, Employers, Fertility, valuation	View Pitch

BSD Shareholders of PGNY

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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Letters With This Ticker

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