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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Aug 7, 2024 | Mindset Value Fund | 7.9% | 70.0% | GRUSF, PRM, TDG | Cannabis, insurance, special situations, value, Wildfire | California faces perfect fuel conditions for fire after two years of abundant rain and plant growth, followed by record low moisture. The Park Fire is now the fifth largest in California history. La Nina weather patterns could worsen conditions with drier winters ahead. | GRUSF PRM |
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| 2025 Q2 | Jul 27, 2025 | Carillon Eagle Small Cap Growth Fund | - | - | BOOT, BRBR, CLBT, DY, ESAB, EXR, LNTH, MMSI, MNDY, PI, PJT, POWL, PRM, RBA, RMBS, SHAK, WWD, ZWS | AI, Data centers, defense, growth, healthcare, Natural Gas, small cap, technology | The AI investment theme remains intact with continued user adoption acceleration and corporate implementations bearing fruit. The team is actively seeking AI adopter companies that trade at reasonable multiples and are positioned for earnings growth fueled by AI-driven margin expansion. They maintain exposure to companies benefiting from hyperscaler capital expenditure increases for AI data centers. | POWL RMBS ZWS PRM PI MMSI BRBR CLBT VNOM ARIS BOOT AVAV ATI WWD SHAK |
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| 2025 Q2 | Jul 27, 2025 | Weitz Multi Cap Equity Fund | 3.6% | 4.3% | ACIW, ACN, AVGO, CDW, CHTR, CSGP, GCI, GOOGL, IT, KMX, LBRDA, LKQ, MA, META, MLM, NVDA, PRM, V, VMC | AI, Multi Cap, Quality, technology, value | AI infrastructure buildout is in early days with chip makers like Nvidia and Broadcom being biggest winners so far. Hyperscalers including Alphabet and Meta hold the purse strings on unprecedented AI infrastructure investment, giving them advantage to modulate spending based on returns while being funded by healthy cash flows from core businesses. | CDW ACN META GOOGL HEI |
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| 2025 Q2 | Jul 27, 2025 | Weitz Partners III Opportunity Fund | 2.5% | 1.9% | AMZN, AVGO, BRK-A, CHTR, GCI, GOOGL, GPN, IEX, KMX, LBRDA, LH, META, MSFT, NVDA, PRM, ROP, TMO, TXN | AI, Hyperscalers, Long/Short, Quality, technology, value | Early days of AI infrastructure buildout with chip makers like Nvidia and Broadcom as biggest winners so far. Hyperscalers including Amazon, Alphabet, Meta and Microsoft hold the purse strings on unprecedented AI infrastructure investment, giving them advantage to modulate spending based on returns while being funded by healthy cash flows from core businesses. | KMX |
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| 2024 Q2 | Jul 17, 2024 | EdgePoint Global | - | - | AAL, ACQ.TO, BBWI, CC, CNK, CWK, CZR, DISH, FDC, FTR, HCA, MTL.TO, O-I, OR.TO, PHII, PRM, PSD.TO, SMG, TEVA, WDC | active management, Benchmarks, credit, fixed income, portfolio construction, risk management | Manager argues that using indexes as benchmarks creates perverse incentives similar to Goodhart's Law, where the measure becomes the target and ceases to be a good measure. Fixed income indexes weight companies by debt issuance size, meaning the most indebted companies get the largest weights, which is counterintuitive for credit investing. | View | |
| 2024 Q1 | Apr 15, 2024 | Weitz Multi Cap Equity Fund | 10.4% | 16.3% | AAPL, BRK-B, CHTR, CSGP, GOOG, IT, LBRDA, LBTYK, LH, LICT, LILAK, LKQ, META, MKL, MLM, PRM, VMC, VRSN | Broadband, infrastructure, materials, Multi Cap, technology, value | Aggregates companies Martin Marietta Materials and Vulcan Materials benefited from continued healthy price increases and strong demand from public infrastructure projects. These companies were top contributors to performance during the quarter. | VRSN |
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| 2024 Q1 | Apr 15, 2024 | Weitz Partners III Opportunity Fund | 9.1% | 14.1% | AAPL, AMZN, BRK-B, CCRD, CHTR, FIS, GOOG, GS, LBRDA, LBTYK, META, MKL, MSFT, PRM, SPY | Broadband, Long/Short, Magnificent Seven, multi-cap, technology, value | The fund focuses on valuation-driven investment decisions, trimming positions like Meta Platforms, Microsoft and Amazon based on valuation considerations. The managers emphasize their multi-cap approach to finding undervalued businesses across all market capitalizations. | View | |
| 2025 Q1 | Mar 31, 2025 | Weitz Multi Cap Equity Fund | 0.8% | 0.8% | ACN, BRK-A, CMCSA, DHR, GOOGL, HEI, IDXX, IEX, LBRDA, LICT, LKQ, META, PRM, TECH, V | aerospace, AI, healthcare, Multi Cap, technology, Trade Policy, value | The AI Trade was dealt a setback in late January after Chinese firm DeepSeek announced its advanced AI model had been developed at a fraction of the cost of U.S. competitors. This led to greater investor scrutiny of U.S. firms' spending plans. Alphabet's Google unit is on the front lines of the Traditional Search vs. GenAI battle. | View | |
| 2025 Q1 | Mar 31, 2025 | Weitz Partners III Opportunity Fund | -0.6% | -0.6% | ACN, ADBE, AMZN, AON, BRK-A, DHR, GOOGL, GPN, IEX, KMX, LBRDA, LH, META, MSFT, PRM, ROP, TECH, TMO, V | AI, Concentration, large cap, Long/Short, technology, Trade Policy, value | The AI Trade faced a significant setback in late January when Chinese firm DeepSeek announced its latest AI model was developed at a fraction of the cost of U.S. competitors. This caused investors to take much harder looks at AI spending plans at U.S. technology firms and shifted market sentiment overnight. | View | |
| 2025 Q4 | Mar 1, 2026 | iMGP Small Company Fund | 1.3% | 0.0% | AAP, AMKR, APPF, MANH, NVDA, PRM, RBC, UAMY | AI, Biotech, defense, growth, healthcare, Quality, small caps, technology | AI remained a significant driver throughout 2025, with AI-related stocks recovering after initial volatility from Chinese competitor DeepSeek and becoming the dominant theme again in late 2025. The market saw broadening beyond AI with materials performing well, but AI continues to be a desired area driving investment decisions. Biotech companies rallied over 25% in the fourth quarter, driven by a series of high-profile biotech acquisitions by large pharma buyers. The managers generally avoid biotech stocks due to their highly binary nature, though they participate through investments in companies that sell products and services to biotech customers. Defense spending themes emerged through specific investments like Antimony Corporation, which won a $245 million five-year sole source contract to rebuild the U.S. antimony supply for military use, taking advantage of export restrictions from China. RBC Bearings' Aerospace and Defense business was particularly strong. | View | |
| 2025 Q3 | Oct 28, 2025 | Weitz Multi Cap Equity Fund | 0.3% | 4.6% | ACIW, ACN, AVGO, CDW, CHTR, CSGP, GCI, GOOGL, IT, KMX, LBRDA, LKQ, MA, META, MLM, NVDA, PRM, V, VMC | AI, Multi Cap, Quality, technology, value | AI infrastructure buildout is in early days with chip makers like Nvidia and Broadcom seeing biggest gains so far. Hyperscalers including Alphabet and Meta hold the purse strings on unprecedented AI infrastructure investment, giving them advantage to modulate spending based on returns while being funded by healthy cash flows from core businesses. | CDW ACN CDW ACN |
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| 2025 Q3 | Oct 28, 2025 | Weitz Partners III Opportunity Fund | 0.0% | 1.9% | AMZN, AVGO, BRK-A, CHTR, GCIA, GOOGL, GPN, IEX, KMX, LBRDA, LH, META, MSFT, NVDA, PRM, ROP, TMO, TXN | AI, Buybacks, Long/Short, Quality, technology, value | The fund acknowledges AI as a dominant theme with early returns accruing to chip makers like Nvidia and Broadcom. They remain on the sidelines of pure-play AI investments due to uncertain long-term growth forecasts, preferring exposure through hyperscalers like Amazon, Alphabet, Meta, and Microsoft who can invest in AI while maintaining durable core businesses. | View | |
| 2025 Q3 | Oct 24, 2025 | Carillon Eagle Small Cap Growth Fund | - | - | BOOT, BRBR, CLBT, DY, ESAB, EXP, LNTH, MMSI, MNDY, PI, PJT, POWL, PRM, RBA, RMBS, SHAK, WWD, ZWS | AI, cyclicals, Data centers, growth, healthcare, Natural Gas, small cap, technology | The AI investment theme remains intact with continued user adoption acceleration and corporate implementations bearing fruit. The team is actively seeking AI adopter companies that trade at reasonable multiples and are positioned for earnings growth fueled by AI-driven margin expansion. They maintain exposure to companies benefiting from hyperscaler capital expenditure increases for AI data centers. | ZWS PRM PI RMBS |
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| 2022 Q3 | Oct 24, 2022 | Tourlite Capital Management | 4.5% | 13.8% | PRM, VRRM | - | View | ||
| 2025 Q4 | Jan 29, 2026 | Weitz Multi Cap Equity Fund | -1.5% | 3.2% | ACN, BRK-B, CDW, CHTR, CMCSA, CSGP, DHR, GOOGL, HEI, IDXX, IEX, IT, KMX, LBRDA, LH, LKQ, META, PRM, SIRI, TECH | healthcare, multi-cap, technology, Telecom, underperformance, value | Google's Gemini AI surpassed expectations with latest release, moving to front of pack among frontier models according to industry benchmarks. Investors questioning value of Gartner's research offerings in rapidly evolving GenAI landscape. Heightened competition continues weighing on broadband investments including Liberty Broadband and Charter Communications. Charter's capital investment cycle beginning to ease, expected to improve free cash flow and support share repurchases at depressed prices. CarMax faces challenging environment with constrained availability and affordability of late model used vehicles. Online competitor Carvana taking share while CarMax's omni-channel investments have yet to deliver improvements, leading to strategic changes and CEO departure. | CHTR KMX PRM |
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| 2024 Q3 | Sep 30, 2024 | Weitz Partners III Opportunity Fund | 9.1% | 14.1% | AMZN, AON, BRK-A, FIS, GOOGL, GPN, IEX, KMX, LBRDA, LBTYA, LH, LYV, META, MSFT, NVDA, PRM, SIRI, SPY, TMO | Broadband, Long/Short, Quality, Rate Cuts, technology, value | The fund focuses on owning high quality businesses trading at discounts to intrinsic value. Liberty Broadband traded at a significant discount to its Charter stake value, and SiriusXM Holdings appears undervalued with investors overly pessimistic about future cash flows at current prices. | View | |
| 2023 Q3 | Aug 11, 2023 | Weitz Multi Cap Equity Fund | 10.4% | 16.3% | BKI, CSGP, EFX, FTRE, GOOG, GWRE, ICE, KMX, LBRDA, LH, LICT, LILAK, LKQ, LSXMK, LYV, MACT, META, MLM, PRM, SIRI | Broadband, Media, Multi Cap, Quality, technology, value | The fund emphasizes owning high-quality, durable businesses led by talented management teams capable of navigating uncertain times. They use a Quality at a Discount framework for investing in businesses of all sizes. The portfolio trades at an estimated price-to-value ratio in the upper 70s, suggesting healthy risk-adjusted returns. | EFX |
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| 2023 Q3 | Aug 11, 2023 | Weitz Partners III Opportunity Fund | 9.1% | 14.1% | AMZN, BKI, BRK-B, CCRD, CSGP, FIS, FTRE, GOOG, GS, KMX, LBRDA, LH, LSXMK, LYV, META, MSFT, PRM, QRTEP, SCHW, SIRI | efficiency, Media, Quality, technology, Tracking Stocks, value | The managers emphasize owning high-quality, durable businesses led by talented management teams capable of navigating uncertain times and potentially coming out stronger. They believe companies with competitive advantages, smart and flexible management teams, and solid finances will always find ways to move forward and build business value. | View | |
| 2024 Q2 | Jul 28, 2024 | Weitz Multi Cap Equity Fund | 10.4% | 16.3% | ACIW, AON, BRK-B, CHTR, CSGP, GOOG, GWRE, HEI, IEX, LBRDA, LKQ, LLYVA, LSXMK, LYV, META, ODFL, PRM, SIRI, TXN, VRSN | Logistics, multi-cap, Quality, technology, value | The letter discusses an AI-driven feeding frenzy of tech stocks, with Meta Platforms and Alphabet garnering favor given their position at the vanguard of artificial intelligence development. However, their traditional ad-supported businesses continue to demonstrate strength and drive healthy business value growth. | ODFL |
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| 2024 Q2 | Jul 28, 2024 | Weitz Partners III Opportunity Fund | 9.1% | 14.1% | AAPL, AMZN, AON, BRK-B, CCRD, CSGP, FIS, GOOG, GPN, IEX, KMX, LBRDA, LLYVA, LSXMK, LYV, MA, META, MSFT, NVDA, ODFL, PRM, SIRI, TXN | Long/Short, Mega Cap, Multi Cap, technology, value | AI initiatives have captivated investors' interest as companies like Alphabet, Amazon, and Meta are at the forefront of developing and deploying artificial intelligence in consumer and business applications. While AI development drives investor enthusiasm, these companies' traditional businesses continue to outperform and generate significant cash flow. | View | |
| 2023 Q2 | Jul 27, 2023 | Carillon Eagle Small Cap Growth Fund | 0.0% | 0.0% | BRBR, LNTH, MMSI, MNDY, PI, POWL, PRM, RMBS, SHAK, ZWS | AI, Biotechnology, Data centers, defense, growth, Natural Gas, Onshoring, small cap | The AI investment theme remains intact with continued user adoption acceleration and corporate implementations bearing fruit. The fund seeks AI adopter companies trading at reasonable multiples positioned for earnings growth through AI-driven margin expansion. However, current lofty multiples of AI infrastructure stocks imply strong growth trajectories with little margin for error. | POWL RMBS ZWS KPRMILL IN AFM CN|B4B GR|BLU SJ|COH SJ|HCI|KO|KSPI|MGROS TI|MTN SJ|NE|NPK SJ|OCE SJ|PPI|PRX NA|SAHOL TI|SES|WINE LN |
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| 2022 Q2 | Jul 14, 2022 | Tourlite Capital Management | 4.5% | 13.8% | AMZN, GOOG, IS, PRM, U | - | View | ||
| 2023 Q1 | Mar 31, 2023 | Carillon Eagle Small Cap Growth Fund | 0.0% | 0.0% | BRBR, LNTH, MMSI, MNDY, PI, POWL, PRM, RMBS, SHAK, ZWS | AI, Biotechnology, Data centers, defense, growth, Natural Gas, Onshoring, small cap | The AI investment theme remains intact with continued user adoption acceleration and corporate implementations bearing fruit. The fund is actively seeking AI adopter companies that trade at reasonable multiples and are positioned for earnings growth through AI-driven margin expansion. However, current lofty multiples of AI infrastructure stocks imply strong growth trajectories with little margin for error. | POWL RMBS ZWS KPRMILL IN AFM CN|B4B GR|BLU SJ|COH SJ|HCI|KO|KSPI|MGROS TI|MTN SJ|NE|NPK SJ|OCE SJ|PPI|PRX NA|SAHOL TI|SES|WINE LN |
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| 2022 Q4 | Feb 17, 2023 | Tourlite Capital Management | 4.5% | 13.8% | APG, PACK, PRM, PRVBX, VRRM | - | View | ||
| 2024 Q4 | Jan 29, 2025 | Weitz Multi Cap Equity Fund | -0.6% | 15.6% | AIF.TO, BRK-B, DHR, EFX, GOOGL, GWRE, HEI, KMX, LBRDK, LBTYK, MA, META, ODFL, PRM, SIRI, TECH, TXN, V, VRSN | inflation, Multi Cap, rates, small caps, technology, value | Investor enthusiasm around artificial intelligence drove outsized returns on a handful of megacap tech stocks. While the fund stayed true to its investment philosophy and avoided chasing trends, many of their portfolio companies are actively exploring AI applications to enhance their operations and drive long-term growth. | View | |
| 2024 Q4 | Jan 29, 2025 | Weitz Partners III Opportunity Fund | 1.1% | 15.4% | AMZN, BRK-A, CCRD, CHTR, CSGP, DHR, FIS, GOOGL, GPN, LBRDA, MA, META, MSFT, PRM, ROP, SIRI, TECH, TMO, TXN, V | Life Sciences, Long/Short, Megacap, payments, technology, value | Investor enthusiasm around artificial intelligence drove outsized returns on a handful of megacap tech stocks. While the fund stayed true to its investment philosophy and avoided chasing trends, many portfolio companies are actively exploring AI applications to enhance their operations and drive long-term growth. | View | |
| 2023 Q4 | Jan 27, 2024 | Weitz Partners III Opportunity Fund | 9.1% | 14.1% | AMZN, BRK-B, CCRD, CHTR, CSGP, FIS, GOOG, GPN, GS, KMX, LBRDA, LSXMK, META, MKL, MSFT, PRM, QRTEP, ROP, SCHW, SIRI, SPY, V | large cap, Long/Short, Media, payments, technology, value | The fund initiated a new position in Global Payments, a leading provider of payments acceptance services with roughly four million merchant locations worldwide. Despite increased competition in the payments landscape, the managers believe Global Payments is more durable than feared and trades at a compelling valuation. | CGPN.L LBRDA 4IMPRINT CCRD |
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| 2023 Q4 | Jan 26, 2024 | Tourlite Capital Management | 4.5% | 13.8% | APG, ESPR, FC, FIP, FTAI, IMVT, KD, LTCH, PRM, PRVB, ROIV, SAN.PA | Aviation, Biotechnology, Event Driven, Long/Short, small caps, special situations | Fund initiated significant position in Roivant Sciences, a biotech company specializing in consolidating promising drug patents. Thesis based on cash value from asset sales, Immunovant stake, and pipeline upside potential. Also held Provention Bio which was acquired by Sanofi following FDA approval. | AFCG ROIV LTCH BKD FIP ESPR APG FTAI |
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| 2023 Q2 | Jan 9, 2023 | Tourlite Capital Management | 4.5% | 13.8% | APG, FIP, FTAI, GLOP, KD, LESL, LTCH, PRM | AI, Aviation, consumer, industrials, Long/Short, Recession, small caps, technology | Manager notes AI hype has driven market strength in large cap tech but has negatively impacted their short positions. They observe significant disparity between AI company valuations and underlying business fundamentals, with one undisclosed short benefiting from AI hype despite anticipated weaker demand and misleading profitability metrics. | BKD KPRMILL IN FTAI FIP APG LTCH |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Carillon Eagle Small Cap Growth Fund | Perimeter Solutions | Materials | Specialty Chemicals | Bull | NYSE | Acquisitions, Fire Safety, Less Cyclical, Multi-year Contract, Operating Execution, specialty chemicals | View Pitch |
| Apr 13, 2026 | Fund Letters | Mindset Value Fund | Perimeter Solutions | Materials | Specialty Chemicals | Bull | NYSE | aerospace components, climate change, Fire Prevention, Fire Retardant, Insurance Crisis, Monopoly, Pricing power, Share Buybacks, specialty chemicals, Wildfire | View Pitch |
| Apr 13, 2026 | Fund Letters | Mindset Value Fund | Perimeter Solutions | Materials | Specialty Chemicals | Bull | NYSE | cash generation, climate change, Fire Retardant, government contracts, Monopoly, Pricing power, specialty chemicals, Wildfire | View Pitch |
| Jan 31, 2026 | Fund Letters | Wally Weitz | Perimeter Solutions SA | Industrials | Specialty Chemicals | Bull | New York Stock Exchange | government contracts, infrastructure, Pricing, Volatility-Reduction, Wildfire | View Pitch |
| Jan 31, 2026 | Fund Letters | Wally Weitz | Perimeter Solutions SA | Industrials | Specialty Chemicals | Bull | New York Stock Exchange | government contracts, Pricing, Volatility-Reduction, Wildfire | View Pitch |
| Jan 9, 2026 | Fund Letters | Fred Mahon | Perimeter Solutions SA | Materials | Chemicals | Bull | New York Stock Exchange | Governance, growth, infrastructure, Specialtychemicals, Wildfires | View Pitch |
| Nov 29, 2025 | Fund Letters | Eric Mintz | Perimeter Solutions | Materials | Specialty Chemicals | Bull | NYSE | cashflow, Chemicals, Contracts, Fire Safety, growth, M&A, visibility | 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. | ||||||||