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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q1 | Mar 31, 2025 | Cullen Enhanced Equity Income Fund | 5.8% | 5.8% | KDP, PM, PNC, TRV | - | View | ||
| 2025 Q4 | Feb 18, 2026 | The Gabelli Dividend Growth Fund | 5.2% | 18.8% | AIG, AMZN, C, GOOG, IP, MDLZ, MRK, MS, NEM, ORCL, PNC, PRGO, SATS, WFC | AI, dividends, financials, gold, healthcare, value | AI euphoria faded in Q4 but companies in the AI ecosystem continued to deliver impressive results against high expectations. Concerns mounted around ever-increasing capex outlays and financing of sizable capex commitments. The commoditized see-saw battle among five major LLMs for next generation model leadership continues. The Fund focuses on dividend-paying stocks and benefited from M&A activity and a large position in gold miner Newmont. Despite a modestly defensive posture throughout 2025, the Fund benefited from appreciating stocks that were sized as larger positions. Gold had its best year with the price of gold benefiting the Fund's position in gold miner Newmont, which was one of the top contributors. Gold served as an inflation hedge and store of value amid macroeconomic uncertainty. | NEM MS GOOG |
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| 2025 Q4 | Feb 12, 2026 | RS Large Cap Val Strategy | 5.8% | 16.2% | C, CHKP, ETN, GOOGL, KEY, MDLZ, PNC, REGN, SEE, TEVA, ZBRA | AI, Data centers, financials, Grid Upgrade, healthcare, large cap, ROIC, value | AI has been a key theme driving popular equity indexes higher and creating unusual market dynamics with elevated concentration risk. The rapid integration of artificial intelligence may drive significant long-term productivity gains and provide a counterweight to softening employment conditions and inflationary pressures. Value stocks outperformed growth counterparts in Q4, with the Russell 3000 Value Index gaining 3.8% versus 1.1% for growth. The team sees intriguing investment opportunities in value-oriented stocks that are being largely ignored, creating an attractive backdrop for stock pickers. Strong demand for data centers has accelerated sales for companies like Eaton Corporation. The buildout of AI-associated data centers is driving increased demand and margin improvements for companies benefiting from this infrastructure spend. The need for upgraded electric grids has accelerated demand for Eaton's products. The process of electrification and grid investment should provide improvements in ROIC along with additional benefits from AI infrastructure spend. | ETN SEE |
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| 2023 Q4 | Dec 31, 2023 | Carillon Eagle Growth & Income Fund | - | - | AVGO, AZN, BLK, CVX, FDX, GPC, MSFT, NOC, PNC | - | View | ||
| 2025 Q4 | Jan 26, 2026 | Davis Financial Fund | 0.0% | 29.3% | AXP, BAER.SW, BK, BRK-A, CB, COF, D05.SI, DIS, FI, FITB, JPM, MKL, PNC, RE, RKT, RNR, USB, WFC | Banking, capital, financials, insurance, regulation, returns, value | Banks continue to represent the majority of holdings with strong tailwinds across credit, spreads, expenses, and regulation. Interest spreads have begun widening as fixed rate assets roll over at higher yields, revealing attractive economics of low-cost deposit franchises. Many banks are generating returns on tangible equity in the mid-to-high teens with management targets suggesting sustainability in the medium term. Capital markets firms were among the drivers of S&P Financials Index performance and contributed to fund outperformance. The regulatory environment has been moving in a favorable direction with capital rules being finalized that are far less onerous than under the prior administration. Regulators are more willing to consider M&A transactions with relief on certain supervisory limitations. Property & casualty reinsurers were added to the portfolio as capital was redeployed from trimmed bank positions. Pricing trends in insurance markets have been strong in recent years. Chubb has consistently generated returns on equity comfortably ahead of the industry owing to advantaged lines of business with disciplined underwriting and operating culture. Payments and consumer lending companies were the biggest contributors to relative performance including Capital One, American Express and Rocket Companies. Capital One's transformational acquisition of Discover Financial closed with anticipated annual cost synergies of $1.5 billion and network synergies of $1.2 billion from transitioning card volumes into Discover's networks. Financial stock valuations have begun to reset higher with price-to-tangible book value multiples expanding by over 70% on average in the past three years. The portfolio in aggregate is valued at approximately 13x this year's earnings, representing a significant discount to both the broader S&P 500 Index and S&P Financials Index. | CB WFC COF |
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| 2025 Q4 | Jan 23, 2026 | American Century Equity Income Fund | 1.8% | 11.9% | BDX, EPD, GOOGL, JNJ, JPM, MCD, MCHP, MDLZ, MDT, MMC, MU, NSC, PEP, PNC, RHHBY, SYY, TFC, UL | Consumer Staples, dividends, financials, healthcare, Quality, value | The fund continues to focus on higher-quality companies with stable revenues and profits, low indebtedness, resilient cash flows and predictable business models that are less sensitive to economic conditions. This approach is viewed as offering resilience amid continuing inflation and uncertain macroeconomic conditions. Healthcare led all sectors in the fourth quarter after being beaten down for much of the year. The fund remains keen on healthcare stocks, particularly those in the healthcare equipment and supplies industry, because they are attractively valued and demand tends to be less susceptible to changes in the economic environment. The fund's investment objective focuses on current income and long-term capital growth, with a strategy of investing in companies believed to be undervalued. The portfolio positioning emphasizes income generation through dividend-paying stocks and preferred securities. | View | |
| 2025 Q4 | Jan 19, 2026 | Carillon Eagle Growth & Income Fund | 0.0% | 0.0% | ADI, AVGO, AZN, DUK, ETN, GS, HD, JPM, KO, LRCX, MCD, MSFT, ORCL, PG, PNC, RTX, TMUS | AI, Capital markets, earnings, growth, large cap, semiconductors, technology | AI-related investment remains robust and has the potential to broaden its impact across industries. The AI super-cycle continues to provide powerful support, yet it carries risks. Investor willingness to underwrite aggressive AI spending has cooled somewhat, and the debate over whether we are in an AI bubble has increased. Lam Research benefitted from improving sentiment regarding the importance of its products within the semiconductor capital spending market. As a leading provider of equipment tied to memory requirements for AI, Lam Research could have a long and healthy path to growth. Analog Devices pushed toward new all-time highs after solid earnings gave investors confidence that the analog cycle is now beyond its bottom. Earnings growth was the clear engine of the market's advance in 2025. Forward S&P 500 earnings are projected to rise 16% in 2026 over 2025. Bloomberg projects S&P 500 EPS growth of 16% in 2026, up from 15% in 2025 with 7 of 11 sectors expected to deliver double-digit gains. Goldman Sachs Group's shares contributed to fourth-quarter performance due to positive financial results, coupled with increased optimism regarding capital markets activity heading into 2026. Goldman Sachs maintains one of the strongest global merger and acquisition advisory and trading, with increased activity in M&A, initial public offerings, and debt issuance activity directly boosting its financial performance. | View | |
| 2023 Q1 | Aug 5, 2023 | Matrix Large Cap Value Strategy | 0.0% | 0.0% | PNC | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Mar 29, 2026 | Seeking Alpha | Seeking Alpha | The PNC Financial Services Group, Inc. | Financials | Regional Banks | Bull | New York Stock Exchange | dividend yield, earnings growth, Macroeconomic Risks, net interest income, operating leverage, PNC Financial Services, regional banks, revenue increase, shareholder returns, 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 |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||