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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | Jun 15, 2024 | Goehring & Rozencwajg Associates, LLC | 0.0% | 0.0% | 7203.T, BHP.AX, CCJ, COP, CVX, DVN, EOG, FCX, Gold, HAL, MRO, NEM, OXY, PXD, RELIANCE.NS, RIO, RRC, SHOP.TO, SLB, XOM | Agriculture, AI, Copper, Energy Transition, gold, Natural Gas, oil, uranium | North American natural gas market has reached a turning point with production likely peaking in December 2023 while demand is set to surge from LNG exports and AI data centers. The firm expects a structural deficit to emerge as shale production falters just as new LNG capacity comes online and data center proliferation drives unprecedented electricity demand. | View | |
| 2024 Q1 | May 8, 2024 | VH Standard Asset Management | -2.2% | -2.2% | AMED, AXNX, AYX, CBAY, CPRI, DOMA, ETRN, HAYN, HES, KRTX, NWLI, PXD, SCX, SPLK, TAST, TCN, TDCX, TGH | Cash Alternative, diversification, liquidity, Merger Arbitrage, risk management | The fund participated in several completed biotech transactions during March, including SOVO which was one of their largest risk exposures. The SOVO transaction received FTC additional information requests in October, prompting the manager to double their position from 2% to 5% of AUM before reducing exposure as the stock price approached the deal price. | View | |
| 2025 Q1 | May 22, 2025 | Goehring & Rozencwajg Associates, LLC | - | - | AAPL, AMZN, AR, BMW.DE, CCJ, CVX, FANG, GOOGL, IMPUY, META, MSFT, NFLX, NVDA, OXY, PXD, RRC, SBSW, SHOP.TO, TSLA, XOM | commodities, Drought, energy, gold, Mining, natural resources, Platinum, Shale | The bear market in platinum and palladium is drawing to a close after 16 years for platinum and 4 years for palladium. Demand shifts favor PGMs as EV adoption disappoints and hybrid vehicles require more PGMs than traditional ICE vehicles. Both markets are in structural deficit with supply constraints from South Africa and declining recycled supply. | View | |
| 2024 Q1 | Apr 30, 2024 | Guinness Global Energy | - | 10.2% | BP, CNQ, COP, CVE, CVX, DVN, E, EOG, EQNR, FANG, GALP.LS, IMO, OMV.VI, PTR, PXD, REP.MC, SHEL, SU, TTE, XOM | dividends, energy, free cash flow, Gas, oil, Opec, valuation | Oil prices strengthened in March driven by tighter supply/demand fundamentals, Middle Eastern tensions, and good OPEC+ compliance. Brent rose 16% year-to-date while 5-year forward prices increased 5%. The fund sees oil remaining affordable at current levels, representing only 2.8% of global GDP versus 30-year average of 3%. | View | |
| 2023 Q4 | Dec 31, 2023 | TimesSquare Capital Management U.S. Mid Cap Growth Strategy | 4.8% | 0.0% | APTV, ARGX, BC, BJ, COR, DXCM, FIVE, FND, IBKR, ICLR, IDXX, LEGN, LNG, NDAQ, ORLY, PINS, PXD, RNR, ROST, STVN, TPG | consumer, cybersecurity, growth, healthcare, industrials, mid cap, technology | Cybersecurity remains a top priority for companies, propelled by recent well-publicized cyberattacks at MGM Resorts, Caesars Entertainment, and Clorox. New SEC disclosure rules on cyber risks took effect in December 2023, requiring additional governance rules for cyber risk management strategy. Channel checks indicate that IT budgets will continue growing, with cybersecurity becoming an increasing percentage. | View | |
| 2023 Q3 | Nov 29, 2023 | Goehring & Rozencwajg Associates, LLC | 0.0% | 0.0% | BHP, CCO, CVX, GDX, HES, IVN, IVNEF, KAP, OIH, PXD, QQQ, RIO, RRC, SIL, URA, XLE, XOM, XOP | commodities, demand, energy, natural resources, nuclear, Renewables, Shale, Supply Deficit | Managers argue renewable energy investments represent history's worst malinvestment due to poor energy return on investment (EROI). Wind and solar have terrible EROIs compared to fossil fuels, requiring massive raw materials and energy inputs. Recent project cancellations and cost increases validate their contrarian view that renewables cannot replace conventional energy. | View | |
| 2023 Q3 | Nov 10, 2023 | ClearBridge Investments Dividend Strategy | 0.0% | 0.0% | AAPL, AMT, APO, CMCSA, ENB, GILD, MET, MSFT, PXD, RTX, TMUS, VMC, VZ, WMB | dividends, energy, financials, industrials, interest rates, value | The strategy focuses on high-quality dividend growers with strong balance sheets and pricing power. Portfolio companies have grown dividends at 10% on average over recent years, demonstrating quality and durability. The managers emphasize dividend growth as protection for investors' purchasing power in inflationary environments. | GILD TMUS HRTX APO |
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| 2023 Q3 | Nov 10, 2023 | ClearBridge Investments Mid Cap Growth Strategy | 0.0% | 0.0% | AZPN, BKI, CASY, CCK, CLH, DOCS, EDR, ETSY, KEYS, NE, PCTY, PINS, PXD, RE, RJF, SPLK, VRT, WSC | Data centers, energy, growth, industrials, mid cap, value | Vertiv, a leader in power and thermal management for data centers, was the top performer driven by strong AI-related demand. The company benefits from improved margins and strong free cash flow generation, with long-term prospects enhanced by AI buildouts increasing demand for liquid-cooling products. | PINS AD8 AU|ARB AU|BAP AU|CAT AU|DHG AU|PME AU|PNI AU|RDX AU|TNE AU CASY MELI|NFLX|ORCL|TCOM|VRTX|YUMC |
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| 2024 Q3 | Oct 31, 2024 | Horizon Kinetics | 0.0% | 0.0% | AAPL, AMZN, BIDU, CMCM, FANG, GOOGL, HWT.UL, META, MSFT, NVDA, OXY, PXD, TPG, TSLA, XOM | AI, China, Data centers, energy, infrastructure, Natural Gas, oil, technology | AI data centers require massive electric power consumption, with exascale facilities consuming as much electricity as small countries. The AI boom is driving unprecedented capital expenditure by tech giants, with Microsoft, Meta, and Alphabet spending over $370 billion in five years. AI applications are expanding rapidly across industries, creating endless use cases and driving demand for physical infrastructure. | View | |
| 2024 Q3 | Oct 30, 2024 | Guinness Global Energy | - | 7.8% | 0857.HK, BP, CNQ.TO, COP, CVE.TO, CVX, DVN, E, EOG, EQNR, FANG, GALP.LS, IMO.TO, OMV.VI, PXD, REP.MC, SHEL, SU.TO, TTE, XOM | CashFlow, dividends, energy, Gas, oil, Opec, valuation | Brent and WTI oil prices strengthened in September on OPEC+ supply cuts and declining inventories. Saudi Arabia and Russia extended voluntary production cuts through year-end, keeping markets undersupplied at 1.5m b/day. Global oil inventories declined 300m barrels over six months to late 2022 lows. | View | |
| 2023 Q3 | Oct 24, 2023 | Pelican Bay Capital Management | 2.7% | 14.6% | CPRI, FANG, GNRC, GOOGL, PSX, PXD, TPR, VZ, XOM | buyouts, Concentration, dividends, energy, oil, Quality, value | Oil prices rose 32% in Q3 as global demand runs 1-2 million barrels per day ahead of supply, reaching record highs of 103 million barrels per day in July. Years of underinvestment outside US shale and prolonged OPEC production cuts have created supply constraints. The manager believes oil prices could continue rising given multi-year timeframes needed for new supplies and environmental policies constraining investment. | PXD DIPSX FANG BVZN SW GNRC CPRI |
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| 2023 Q3 | Oct 16, 2023 | Smead Value Fund | 5.1% | 11.1% | AMGN, AXP, BAC, COP, DHI, LEN, MRK, NVR, OVV, OXY, PFE, PXD, SPG, TGT, UHAL, XOM | Bear Market, commodities, Financial Euphoria, Homebuilders, Millennials, oil, value | The fund sees a once-in-a-lifetime opportunity in oil and gas shares, believing they are in the early stages of a commodity super-cycle. Oil and gas stocks have dramatically underperformed the price of oil this year, creating an excellent short-term buying opportunity. The fund expects consolidation in the industry with 40% of existing companies potentially merging into larger entities within 10 years. | View | |
| 2023 Q4 | Jan 16, 2024 | Pelican Bay Capital Management | 12.2% | 28.6% | APAM, BLDR, CPRI, CSCO, EOG, EXPE, GNRC, GOOGL, MO, NTR, ON, PXD, TOL, XOM | concentrated, energy, Fertilizers, Homebuilders, Quality, semiconductors, Travel, value | Homebuilding-related stocks were top performers in Q4 with Toll Brothers up 39% and Builders FirstSource rising 32% as interest rates dropped from 5.0% to 3.8%. The manager made tactical position sizing adjustments in BLDR, trimming at $143 in summer and adding back at $117 in October before shares rebounded to $170. | EOG 6ON GR |
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| 2023 Q3 | Sep 30, 2023 | TimesSquare Capital Management U.S. Mid Cap Growth Strategy | 4.8% | 0.0% | APTV, ARGX, BJ, CSGP, DXCM, EFX, FIVE, FND, GFL, IAC, IBKR, IDXX, LNG, NDAQ, PINS, PXD, RGEN, RNR, ROST, SWAV | consumer, energy, financials, growth, healthcare, industrials, mid cap, technology | While cloud adoption is still nascent, many businesses slowed spending earlier this year as part of cost-cutting measures. Companies are now beginning to reengage with cloud initiatives as they reach better financial positions, with green shoots noted by some holdings. | View | |
| 2024 Q2 | Jun 30, 2024 | ClearBridge Investments Dividend Strategy | 0.0% | 0.0% | AAPL, APD, AVB, CMCSA, DEO, GOOGL, HLN.L, INTC, MA, MDLZ, META, MSFT, NESN.SW, NVDA, ORCL, PXD, SRE, TRV, V, VMC, WMB, XOM | Concentration, diversification, dividends, Passive investing, technology, valuation | The strategy focuses on companies with nicely growing dividends that provide cushion amid volatility and preserve purchasing power. Recent additions of Alphabet and Meta reflect the benefits of their flexible dividend approach, enabling quick moves after dividend announcements. They expect continued robust dividend growth from their companies. | View | |
| 2024 Q1 | May 4, 2024 | AMG Yacktman Fund | 7.5% | 7.5% | CNQ, CVX, DAR, EAF, EMBCF, FANG, GOOGL, HES, K, MSFT, NWSA, PEP, PG, PXD, SCHW, UHAL, VLO, XOM | Consumer Staples, energy, large cap, Media, technology, value | The energy sector had a strong first quarter with portfolio energy companies performing well. The thesis is based on a medium-term supply/demand imbalance and the shift to returning capital to shareholders. CNQ was Yacktman's first investment in the energy space in over a decade, followed by domestic exploration and production companies added in mid-2022. | BOL.PA K DAR CNQ.TO |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Pelican Bay Capital Management | Pioneer Natural Resources Company | Energy | Oil, Gas & Consumable Fuels | Bull | NYSE | Free Cash Flow, Horizontal Wells, Low-cost producer, Permian Basin, Shale Oil, shareholder returns | 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. | ||||||||