RH

RH

RH

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 27, 2025	Carillon Eagle Mid Cap Growth Fund	-	-	AXON, BKR, NET, OKTA, PLTR, RCL, RH, RYAN, SRPT, VST	broadening, earnings, Mid Caps, Resilience, secular growth	The letter highlights a rebound in mid-cap growth stocks driven by earnings resilience and easing macro fears. Management sees broadening opportunities beyond mega-cap leadership. Mid-cap secular growers are favored.	RH RYAN OKTA SRPT BKR VST NET RCL AXON PLTR	View
2025 Q2	Jul 25, 2025	Baron Discovery Fund	14.7%	7.6%	ASIC, CWAN, INSP, KRMN, KTOS, MAC, MEG, RH, WYNN	early stage, innovation, long runway, small caps, volatility	The letter emphasizes early-stage and small-cap companies with long runways for growth and innovation. Volatility is framed as an opportunity to build positions in underappreciated businesses. The strategy seeks transformational companies before they become widely recognized.		View
2025 Q2	Jul 14, 2025	Recurve Capital	-	14.8%	COGT, CVNA, RH	Concentration, disruption, earnings, FreeCashFlow, volatility	The strategy emphasizes owning disruptive businesses with long-term earnings power while accepting short-term volatility as the cost of outsized returns. Volatility is treated as an opportunity to increase exposure to high-conviction ideas when markets misprice fundamentals. Portfolio construction favors letting winners compound as companies move up favorable fundamental decision trees.	RH CCOI CVNA	View
2024 Q1	Apr 20, 2024	Cedar Grove Capital Management	21.0%	0.0%	MTCH, PTON, RH	-			View
2024 Q1	Apr 15, 2024	Baron Discovery Fund	13.5%	9.3%	ALGM, CDNA, CYBR PM, DAVA, DKNG, ICHR, INTA, KNSL, MASI, NARI, NVTS, RGEN, RH, SMCI	-			View
2024 Q3	Oct 23, 2024	Polen Capital – U.S. Small Company Growth	7.4%	-0.9%	4P0 GR, ALIT, ALRM, BROS, DOCS, ELF, GSHD, HLNE, NSIT, NVEE, PCTY, PGNY, RH, RMBS, RVLV, SITM	-			View
2024 Q3	Oct 18, 2024	Polen Capital – U.S. SMID Company Growth	8.8%	-1.3%	0HOT LN, AIT, ALIT, BLD, ELF, FIVE, GSHD, HLNE, MPWR, PGNY, RH, RVLV	-			View
2025 Q4	Jan 29, 2026	8th Wonder Investments	0.0%	0.0%	AAPL, AMZN, CMCSA, CRM, CSU.TO, DECK, DIS, GOOGL, HEI, LYV, META, MSFT, NFLX, NVDA, PARA, RH, SKX, TOI.TO, TSLA, WBD	aerospace, AI, Leadership, Luxury, M&A, Media, software, value	Warner Bros. Discovery represents a special situation investment driven by CEO David Zaslav's shift toward shareholder value creation and aggressive debt paydown. The company announced plans to split into two entities and received multiple takeover bids, with Netflix ultimately winning the bidding war. The market fears AI will disrupt vertical market software by eliminating switching costs and seat-based pricing. However, AI agents will likely increase demand for systems of record and control point software rather than replace them, as enterprises need guardrails for non-deterministic AI outputs. Constellation Software and Topicus represent the core thesis of acquiring mission-critical vertical market software businesses with high switching costs, recurring revenue, and defensive moats. These businesses serve niche markets where switching is painful and alternatives offer minimal benefits. The fund employs covered call strategies to generate income and reduce cost basis while building positions. This options-based approach allows for larger position sizing in balance sheet challenged businesses while providing downside protection. HEICO represents an antifragile business model in aftermarket aerospace components that gains market share during economic stress as airlines extend fleet life. The company demonstrates seamless leadership transition and decentralized operations that thrive on adversity. RH under Gary Friedman exemplifies exceptional leadership combining capital allocation with creative genius, transforming the company from near-bankruptcy into a luxury lifestyle brand with galleries that redefine retail and 30% EBITDA margins.	TOI CN CSU CN RH HEI WBD	View
2022 Q2	Aug 24, 2022	GreenWood Investors	0.0%	16.6%	CTT AU, LTRPA, RH	-			View
2023 Q2	Apr 8, 2023	GreenWood Investors	0.0%	16.6%	BOP GR, RH	-			View
2024 Q4	Jan 16, 2025	Recurve Capital	-	-	AMZN, BC IM, CCOI, CVNA, RH, W	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 30, 2026	Fund Letters	Daniel Bellehsen	RH	Consumer Discretionary	Home Furnishings	Bull	New York Stock Exchange	capital allocation, Experiential Retail, founder-led, Luxury Brand, Margins	View Pitch
Jan 23, 2026	Twitter / X	@MattJMcClintock	RH, Inc.	Consumer Discretionary	Home Furnishings Retail	Bull	New York Stock Exchange	Channel, Channel Check, Chart, Get One, Homebuilders, People, Promo, Tables	View Pitch
Jan 8, 2026	Fund Letters	Aaron Chan	RH	Consumer Discretionary	Homefurnishings	Bull	New York Stock Exchange	Brand, Luxury, Pricingpower, retail, tariffs	View Pitch
Dec 5, 2025	Fund Letters	Eric Mintz	RH	Consumer Discretionary	Specialty Stores	Bear	NYSE	consumer, Housing, Luxury, Macro, retail	View Pitch
Nov 27, 2025	Seeking Alpha	Seeking Alpha	RH		Specialty Retail	Bull		brand value, international expansion, investment strategy, luxury home furnishings, macroeconomic challenges, new product launch, Revenue Growth, RH, supply chain, tariff impacts	View Pitch
Aug 8, 2025	Seeking Alpha	May Investing Ideas	RH	Consumer Discretionary	Specialty Retail	Neutral	NYSE	—	View Pitch
Aug 7, 2025	Seeking Alpha	Caffital Research	RH	Consumer Discretionary	Specialty Retail	Neutral	NYSE	—	View Pitch

BSD Shareholders of RH

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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