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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q1 | Mar 31, 2025 | Voya MidCap Opportunities Strategy | - | - | ALAB, NARI, PSN, TTD, TW, WELL | AI, Capital markets, defense, growth, healthcare, mid cap, real estate, technology | The artificial intelligence sector experienced significant challenges during the quarter, with emerging cracks in the AI sector contributing to market uncertainty. Chinese AI rival Deepseek's announcement negatively impacted AI-related stocks like Astera Labs. Big technology stocks, including AI-focused companies, fell into bear-market territory. | View | |
| 2024 Q4 | Dec 31, 2024 | Artisan Partners Small Cap Fund | 0.6% | 14.7% | ABMD.CO, ALAB, COCO, CROX, FLS, GTLB, HALO, INSM, ITGR, JBT, LSCC, MTSI, NOVT, ONTO, PSN, RGEN, SDHC, SN, STVN, VCYT, VSEC | AI, Biotechnology, energy, healthcare, semiconductors, small cap, technology | Data centers are energy-intensive and with AI expansion, energy consumption is projected to grow exponentially. Portfolio companies like Astera Labs and MACOM are benefiting from growing AI datacenter spending. Cloud software franchises are making steady progress introducing AI functionality into their leading solution suites. | View | |
| 2025 Q3 | Oct 16, 2025 | Brown Advisors Mid-Cap Growth strategy | 2.0% | 9.4% | CAH, COR, CPNG, CVNA, DKNG, FIG, FIX, HLT, LNG, MCK, MDB, MPWR, NET, NTSK, PSN, PSTG, VRT, VST, WST, ZS | AI, Biotech, gaming, growth, healthcare, Mid-cap, semiconductors, technology | Approximately 14% of the portfolio consists of companies with meaningful exposure to AI or data center capex. Seven of the top fifteen midcap index contributors sport businesses that hinge on Artificial Intelligence and data center CapEx. Strong fundamental performance coupled with burgeoning valuations in AI-exposed stocks pushed several portfolio positions towards three-year price targets. | CVNA NTSK PSN |
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| 2025 Q4 | Jan 26, 2026 | Brown Advisors Mid-Cap Growth strategy | -4.7% | 12.5% | AS, AXON, CPNG, CSGP, CVNA, EFX, EXPE, FICO, HWM, INSM, IOT, MDLN, NTRA, PLTR, PSN, PSTG, RKLB, ULTA, VEEV, ZS | AI, energy, growth, healthcare, industrials, mid cap, semiconductors, technology | Several portfolio companies are generating meaningful revenue from GenAI-enabled products, with Axon leading through DraftOne and related offerings that drove over $500 million in bookings. The strategy sees AI as a key driver for companies delivering solutions that save time and reduce labor intensity. AI-driven demand for data center construction is benefiting holdings like Comfort Systems, which exceeded expectations with revenue growth over 20% driven by MEP contracting demand. Rising power demand from data center customers is also supporting Vistra through direct sourcing agreements. The strategy maintains exposure to semiconductor companies like Monolithic Power Systems, which benefited from easing concerns around NVIDIA market share and expanding exposure to other AI compute architectures including AMD, TPU, and Trainium to reduce customer concentration. The strategy repurchased Zscaler following a selloff, viewing it as an attractive entry for the leader in the growing SASE security software market that is executing a multi-product cross-sell strategy driving ARPU and margin growth. The strategy is modestly overweight Energy with positions in Cheniere Energy for LNG exposure and Oceaneering International. Vistra benefited from rising power demand in Texas and growing investor appreciation for nuclear assets, signing large power purchase agreements with hyperscalers. The strategy is overweight Healthcare with broad exposure across services, devices and biotechnology. Cardinal Health delivered strong results driven by improved specialty mix and margin recovery, while Medline offers exposure to both medical technology demand and provider volumes through its vertically integrated platform. | View | |
| 2025 Q4 | Jan 21, 2026 | Artisan Partners Small Cap Fund | 3.4% | 8.6% | BRKR, CLBT, COCO, FLEX, GH, GWRE, HXL, INSM, IRTC, ITGR, LASR, LSCC, MOD, MTSI, PCOR, PEN, PSN, SN, STVN, VSEC | AI, Biotechnology, defense, growth, healthcare, profit cycles, small cap, technology | AI-related capital spending remains an area of active debate entering 2026. Investors continue to weigh strong industry momentum against concerns about circular financing dynamics and data center construction delays. The team finds compelling opportunities among companies positioned to benefit from AI investment strength and gain share of customers' AI spending based on superior technology. Aerospace and defense holdings appear well positioned for multiyear growth. The team believes commercial aerospace suppliers are positioned to benefit for many years from significant content gains in new aircraft and growth in recurring aftermarket sales. Defense-related investments include companies with strong franchises in non-kinetic laser weapons and critical technologies. Healthcare returned as a source of market strength during the quarter. The team maintains relatively high exposure to the sector despite several years of industry headwinds, grounded in conviction in profit cycle opportunities for biotechnology companies. Many biotechnology franchises are early in what the team believes are some of the most compelling product launch cycles of their careers. The team continues to find compelling opportunities among semiconductor companies positioned to benefit from AI investment strength and gain share of customers' AI spending based on superior technology that improves data center performance and efficiency. These investments are managed with valuation discipline consistent with the team's process. | GWRE PSN STVN COCO INSM MTSI |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 24, 2026 | Fund Letters | Craigh Cepukenas | Parsons Corporation | Industrials | Engineering & Construction | Bull | New York Stock Exchange | backlog, Contracts, cybersecurity, Defense, infrastructure | View Pitch |
| Nov 29, 2025 | Fund Letters | GEORGE SAKELLARIS | Parsons Corp. | Information Technology | Aerospace & Defense | Bull | NYSE | Contracts, cybersecurity, Defense, Government, growth, infrastructure | 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. | ||||||||