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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q3 | Sep 30, 2024 | Octahedron Capital | - | - | AAPL, AMZN, CART, CPNG, DASH, DIS, GOOGL, GRAB, LYFT, META, NFLX, PINS, RDDT, ROKU, SNAP, SNOW, SPOT, UBER, WBD, WMT, YELP | AI, Cloud, Digital, E-Commerce, growth, Internet, semiconductors, technology | Generative AI is driving significant productivity improvements across software development and enterprise applications. Companies are seeing measurable ROI from AI investments, with GitHub Copilot accounting for over 40% of GitHub revenue growth and Microsoft reporting billions in AI infrastructure revenue. AI is accelerating cloud migrations and enabling new usage-based pricing models. | View | |
| 2025 Q2 | Aug 7, 2025 | RGA Investment Advisors | - | - | AVGO, AWE.L, CRSP, FEVR.L, MTN, PTON, PYPL, ROKU, WDAY | Biotechnology, conviction, Enterprise Software, Fitness, Streaming, Trade Policy, volatility | CRISPR Therapeutics represents a first-mover advantage in cell and gene therapy with commercial approval of Casgevy. The company trades at a significant discount with strong cash position and pipeline optionality. Management has balanced capital discipline with R&D ambition, positioning the company to lean into its pipeline while competitors retrench. | MTN AWE PYPL FEVR ROKU WDAY PTON CRSP |
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| 2025 Q2 | Jul 16, 2025 | ARK Invest | 34.6% | 15.4% | ACHR, AMD, AMZN, AVAV, COIN, CRCL, CRSP, HOOD, KTOS, PLTR, RBLX, RKLB, ROKU, SHOP, TEM, TER, TRMB, TSLA, TTD, TWST | AI, crypto, defense, Genomics, growth, innovation, Robotics, technology | ARK views artificial intelligence as one of its Five Innovation Platforms that could play an outsized role in pulling the economy out of the rolling recession. The firm believes AI, along with other innovation platforms, could catalyze productivity gains and accelerate economic growth during turbulent times when consumers and businesses are willing to change how they operate. | View | |
| 2025 Q2 | Jun 30, 2025 | Octahedron Capital | - | - | ABNB, AMZN, APP, BKNG, CART, CPNG, CVNA, DASH, GOOGL, GRAB, MELI, META, NFLX, PINS, RDDT, ROKU, SNAP, SNOW, UBER, W | Advertising, AI, Cloud, E-Commerce, payments, semiconductors, tariffs, Trade Policy | AI infrastructure demand remains insatiable with companies processing 480 trillion tokens monthly, up 50x year-over-year. ServiceNow expects AI products to reach $1 billion ACV by end of 2026, while companies are transitioning from seat-based to usage-based AI pricing models. AI agents are creating 4x more databases than humans, fundamentally changing software development workflows. | View | |
| 2024 Q1 | May 10, 2024 | O’Keefe Stevens Advisory, Inc | 0.0% | 0.0% | AER, AMGN, BGC, BKRIF, BLKB, EAF, EXPI, FPH, HCC, NVDA, QCOM, ROKU, WBD | activism, Aviation, materials, small cap, technology, trading, value | NVDA represents almost 15% of the portfolio as the top holding. The manager sold NVDA call options that expire in June and are deep in the money, planning to deploy cash from covered calls over time as opportunities arise. | BGC AER EAF |
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| 2025 Q1 | Apr 25, 2025 | O’Keefe Stevens Advisory, Inc | - | - | BGC, BKRIF, BMWKY, CMP, DFIN, FPH, MBGYY, NVDA, QCOM, ROKU | Autos, Buybacks, earnings, risk management, value, volatility | The manager extensively discusses heightened market volatility, noting that earnings reactions have significantly exceeded historical norms. Stocks beating expectations outperformed by 248bps vs historical 148bps, while misses underperformed by 362bps vs historical 245bps. The implied versus realized volatility relationship has reversed since Q1 2021, with realized volatility occasionally surpassing implied volatility. | CMP MBGYY BMWKY FPH DFIN |
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| 2024 Q1 | Apr 20, 2024 | Saga Partners | 22.6% | 39.4% | AMZN, COST, CVNA, EXPI, GDRX, GOOGL, KMX, KO, LAD, META, NFLX, RDFN, ROKU, TTD, UA, VZIO, WMT, Z | Concentration, E-Commerce, long-term, technology, value, volatility | Carvana represents a complete transformation of used car retail through integrated e-commerce infrastructure. The company has built an irreplicable network of inspection centers, logistics, and financing operations that enables seamless customer experience. Despite 2022 challenges, Carvana demonstrated profitable unit economics and reached positive EBITDA in 2023. | View | |
| 2022 Q4 | Dec 31, 2022 | Aquamarine | - | -21.0% | 1211 HK, AXP, BAC, BRK/A, CDLX, CVNA, GOOG, IEX IN, MKL, NESN SW, OXY, RACE IM, ROKU, SNOW, SQ, TSLA | - | View | ||
| 2024 Q4 | Dec 4, 2025 | Saga Partners | - | 112.2% | AAPL, AMZN, BRK-A, CVNA, F, GM, GOOGL, META, MGI, MSFT, NFLX, RDFN, RKT, ROKU, SPOT, TRUP, TTD, WISE.L, WMT, WU | Advertising, disruption, E-Commerce, growth, payments, Platform, Streaming, technology | Carvana demonstrates a superior customer value proposition versus traditional dealerships with a structurally lower cost model at scale. The company has achieved industry-leading unit economics with gross profit per unit reaching $6,900 in 2024, up from $3,000 in 2022, while maintaining high Net Promoter Scores. | View | |
| 2025 Q3 | Oct 15, 2025 | ARK Invest | - | - | ACHR, AMD, AMZN, AVAV, COIN, CRSP, HOOD, KTOS, PLTR, PSNL, RBLX, RKLB, ROKU, RXRX, SHOP, TEM, TER, TRMB, TSLA, TWST | AI, crypto, defense, Genomics, growth, innovation, Robotics, technology | ARK views artificial intelligence as one of the Five Innovation Platforms that could play an outsized role in pulling the economy out of the rolling recession. The firm expects AI to accelerate productivity gains and economic growth, particularly as businesses harness new technologies to increase productivity and protect margins during periods of pricing power loss. | View | |
| 2025 Q4 | Jan 21, 2026 | NCG Large Cap Growth Strategy | 1.0% | 15.3% | AAPL, AMD, GE, GHI, GOOGL, HOOD, KNSL, MDB, MSFT, NFLX, ORCL, PGR, ROKU, SAIA, SPOT | active management, growth, Outperformance, Quality, small caps, technology | The firm emphasizes investing in high-quality growth companies with proven business models and sustainable growth drivers. They note that quality factors worked against active managers in 2025, with low-quality stocks significantly outperforming high-quality names. Small cap earnings growth turned positive during 2025 and is expected to stay positive and potentially accelerate in 2026. Small caps continue to trade at a relative discount to large caps, presenting an opportunity for this discount to narrow. The firm maintains significant exposure to AI infrastructure and sees an accelerated pace of innovation happening across various industries. Their technology holdings are diversified across AI infrastructure among other areas. | View | |
| 2025 Q4 | Jan 14, 2026 | ARK Invest | 0.0% | 0.0% | ACHR, AMD, AVAV, COIN, CRSP, DE, GH, GOOG, HOOD, KTOS, PLTR, RBLX, RKLB, ROKU, SHOP, TEM, TER, TRMB, TSLA, TWST | AI, crypto, defense, Genomics, innovation, productivity, Robotics, technology | ARK believes convergences among major platforms like AI, robotics, energy storage, public blockchain technology, and multiomics sequencing should accelerate non-farm productivity growth to 4–6% on a year-over-year basis. AI-related spending boom on data centers and power plants began in late 2022. Strong demand for AI-related chip testing and semiconductor testing across compute, networking, and memory. Robotics is identified as one of the major transformative innovation platforms that should converge with AI and other technologies to drive productivity gains. The ARK Autonomous Technology and Robotics ETF focuses on companies developing autonomous mobility, humanoid robots, and intelligent devices. Energy storage is highlighted as one of the key transformative innovation platforms that will converge with AI, robotics, blockchain, and multiomics sequencing to accelerate productivity growth and economic transformation in the coming years. ARK sees favorable policy shifts around crypto as supportive headwinds shifting into structural tailwinds for innovation. Coinbase faced challenges from weakness in crypto market trading activity, with quarterly spot trading volumes declining 9% quarter-over-quarter. The firm maintains exposure through Bitcoin ETFs and crypto-related companies. Multiomics sequencing is identified as one of the major transformative platforms. The genomics space benefited from increasingly positive sentiment following Abbott's acquisition of Exact Sciences. Companies like Guardant Health and Natera showed strong performance with significant revenue growth and clinical trial successes. Defense spending represents a significant opportunity with the U.S. Army announcing plans to purchase at least one million drones in the next 2–3 years. Companies like Kratos Defense, AeroVironment, and Rocket Lab are positioned in this space, though innovation-based defense stocks experienced broad sell-offs during the quarter. | View | |
| 2023 Q4 | Aug 1, 2024 | Saga Partners | 22.6% | 39.4% | CVNA, LGIH, META, RDFN, ROKU, TRUP, TTD | Concentration, growth, Long-only, Quality, technology | The portfolio includes multiple e-commerce and digital commerce companies including Carvana (online auto sales), Redfin (real estate platform), and Trade Desk (digital advertising). These companies represent the ongoing digital transformation of traditional commerce sectors. | View | |
| 2024 Q2 | Jul 29, 2024 | Choice Equities Capital Management | -1.8% | 5.5% | AMZN, DIS, DISH, FOX, FUBO, GOOGL, HEES, META, MGNI, MSFT, NFLX, NVDA, OEC, PAR, ROKU, WBD | Ad Tech, AI, Concentration, small caps, Streaming, technology, value | AI enthusiasm morphed into an outright AI vortex during Q2, with possibilities around AI use cases and productivity enhancements captivating public imaginations and creating an arms race mentality in corporate boardrooms. Four large hyperscalers intend to spend approximately $200B this year on AI chips, with the market capitalizing these large capital flows and rewarding recipients like Nvidia with higher trading multiples. | MGNI |
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| 2023 Q2 | Jul 7, 2023 | Saga Partners | 22.6% | 39.4% | AAPL, ADBE, AMZN, CMG, CPRT, CRM, GOOGL, HD, HEI, MA, META, MSFT, NFLX, NOW, ORLY, ROKU, TDG, TJX, TSCO, V | Concentration, innovation, long-term, Streaming, technology, volatility | Connected TV has moved into the transitional phase where the market has chosen winners who are scaling products with rising barriers to entry. The real value will move to TV operating system aggregators rather than content suppliers, with Roku positioned to benefit from its growing market share approaching half of US households. | View | |
| 2023 Q3 | Apr 10, 2023 | Saga Partners | 22.6% | 39.4% | CVNA, LGIH, META, RDFN, ROKU, TRUP, TTD | Concentration, consumer, growth, technology, value | View | ||
| 2025 Q1 | Mar 31, 2025 | Distillate Capital Fundamental Stability & Value | -1.0% | -1.0% | BGC, BKRIF, BMWKY, CMP, DFIN, FPH, MBGYY, NVDA, QCOM, ROKU | Autos, Buybacks, earnings, real estate, value, volatility | Market volatility has significantly increased with earnings reactions exceeding historical norms. Stocks beating expectations outperformed by 248bps vs historical 148bps, while misses underperformed by 362bps vs historical 245bps. Realized volatility now occasionally surpasses implied volatility, indicating markets may be underpricing risk. | CMP MBGYY BMWKY FPH DFIN |
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| 2024 Q4 | Jan 28, 2025 | JDP Capital | 10.4% | 47.9% | AAPL, AMZN, CZR, META, NFLX, ROKU, SPOT, TSLA | China, Electric Vehicles, gaming, growth, Streaming, technology, value | Spotify benefits from ever-lower barriers to produce consumer content, the rapid shift away from all forms of linear media consumption, and behavioral data generated by hundreds of billions of consumption hours. The company achieved unexpected earnings power in 2024 with 3Q gross profit up 62% YoY and operating income surging to about $2 billion annualized. Roku represents the largest connected TV operating system in North America with nearly 50% market share, positioned to benefit from Value Migration of digital advertising budgets converging with CTV. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Baillie Gifford - US Equity Growth | Roku Inc | Consumer Discretionary | Consumer Electronics | Bear | NASDAQ | advertising, Competition, Connected tv, consumer electronics, Profitability Concerns, Streaming | View Pitch |
| Feb 17, 2026 | Substack | Shareholders Unite | Roku, Inc. | Technology | Streaming Media | Bull | NASDAQ Stock Market | AI personalization, digital advertising, international expansion, market leadership, neutral stance, Roku TV OS, Strategic Partnerships, streaming platform, subscription services, The Roku Channel | View Pitch |
| Jan 8, 2026 | Fund Letters | Jason Gilbert | Roku Inc. | Communication Services | Advertising-Based Video on Demand | Bull | NASDAQ | advertising, ARPU, CTV, platform, Programmatic | View Pitch |
| Aug 8, 2025 | Seeking Alpha | The Undercovered Dozen | Roku, Inc. | Communication Services | Entertainment | Bull | NASDAQ | — | View Pitch |
| Aug 7, 2025 | Substack | The Finance Corner | Roku, Inc. | Communication Services | Entertainment | Bear | NASDAQ | — | 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. | ||||||||