ROP

ROP

ROP

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2023 Q3	Sep 30, 2023	Fenimore Small Cap Strategy	-4.0%	-	AVY, BIP, BOC, CDW, CIGI, CSV, CTAS, ENTG, ESI, EXPO, IEX, MCHP, MKC, NOMD, PAG, PAYX, ROP, SPSC, THG, TT, TWNK	dividends, Quality, rates, semiconductors, small caps, value	Rising interest rates weighed on the market throughout the quarter, with the Fed raising rates by 0.25% in July and signaling potential additional increases. The Fed's higher for longer stance pressured stocks and created headwinds for companies with significant debt.		View
2023 Q3	Sep 30, 2023	Fenimore Dividend Focus Strategy	-2.6%	-	AVY, BIP, BOC, CDW, CIGI, CTAS, ENTG, ESI, EXPO, IEX, MCHP, MKC, NOMD, PAG, PAYX, ROP, SPSC, THG, TT, TWNK	dividends, mid cap, Quality, rates, semiconductors, value	Rising interest rates weighed on the market in Q3, with the Fed signaling another rate increase possible before year-end. The Fed's target rate ended between 5.25% and 5.5%, the highest since 2001. Higher rates are filtering through the economy with 30-year mortgage rates well over 7%.		View
2024 Q2	Jul 8, 2024	ROCKLINC Partners Fund	3.8%	12.2%	AAPL, ADSK, ALS.TO, AMZN, APG, BEPC, BIP, BN, CCO.TO, CHD, DHR, FNV, GLEN.L, MEG.TO, OR.TO, ROP, SSL.TO, SU.TO, TSU.TO, WPM	Canada, energy, gold, inflation, infrastructure, oil, Precious Metals, value	Manager believes gold will continue rising due to global central banks being net buyers since 2014, declining US dollar reserve status with 44+ nations executing trade settlements in non-US dollars, and BRICS economies now larger than G-7. Physical gold increasingly being repatriated from Western exchanges to Eastern markets.	MEG.TO	View
2025 Q2	Jul 29, 2025	Baron Asset Fund	7.8%	4.6%	ACGL, APH, COO, CSGP, DKNG, FICO, GRMN, GWRE, IDXX, IOT, LPLA, MSCI, MT, PCOR, PWR, ROP, SCHW, TECH, VRSK, WST	growth, healthcare, industrials, Long Term, mid cap, Quality, software, technology	AI-related investments drove significant market momentum during the quarter, with data center infrastructure and AI-enabled software platforms benefiting from increased capital spending. The Fund's holdings like Amphenol gained from AI-driven data center demand, while Samsara leverages AI to help companies optimize operations and prevent accidents.	LPLA SAMS	View
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	View
2025 Q2	Jul 21, 2025	Wasatch Long/Short Alpha Fund	0.5%	-	ENSG, FN, GWRE, HLP, HQY, INSP, KAI, MORN, NSA, OZK, RBC, RKLB, ROP, SG, SKY, WDAY	Beta, Defensive, Long/Short, Quality, risk-on, small cap, tariffs	The fund focuses on high-quality companies with proven earnings growth track records, strong free cash-flow generation, and trusted management teams. This quality focus was a headwind during the quarter as lower-quality stocks outperformed in the risk-on environment, but the manager believes this creates better expected returns for quality investing over the next three-to-five years.	SG RKLB HQY GWRE FN INSP NSA SKY HQY GWRE INSP NSA SKY	View
2025 Q2	Jul 18, 2025	NZS Capital – Growth	19.4%	15.1%	1211.HK, APH, ARM, CDNS, CPRT, DHR, FI, FND, GLBE, GOOGL, HEI, IR, LRCX, MELI, MRVL, MSFT, NET, NVDA, PGR, PWR, ROP, SAIL, TOST, TSM	growth, Portfolio Management, semiconductors, software, technology, volatility	NZS views the world as a complex adaptive system subject to frequent shocks and disruptions. Their portfolio construction process is designed to handle volatility by sizing positions based on range of outcomes rather than narrow predictions. The resilient head provides ballast during volatility while the optionality tail captures asymmetry.	TOST TOST	View
2025 Q2	Jul 17, 2025	Choice Equities Capital Management	30.0%	21.6%	BNED, CELH, GENI, MGNI, MOD, PAR, ROP, SRAD	Advertising, concentrated, gaming, growth, Manufacturing, small caps, technology, value	GENI secured extended NFL data rights deal through 2029 and exclusive NCAA data rights through 2032, providing visibility into data costs and enabling incremental revenues to flow through at attractive margins. Sports betting legalization in Brazil and pending U.S. states, plus growth in in-game betting where GENI generates higher take rates, creates ongoing revenue opportunities in a market growing at low-double digit rates.	MOD MGNI GENI MOD MGNI GENI	View
2025 Q2	Jul 15, 2025	Akre Focus Fund	6.5%	-	AAPL, AMZN, BN, CSGP, CSU.TO, DHR, GOOGL, KKR, MA, MC.PA, MCO, MSFT, NVDA, ORLY, ROP, TOI.TO, V, XOM	Compounding, drawdowns, long-term, Quality, value	The manager emphasizes business quality as the key differentiator for long-term compounding, citing research showing high-quality businesses (measured by smaller drawdowns) compound positively over time while low-quality businesses generally do not. Quality businesses are distinguished by their ability to compound from pre-drawdown peaks, unlike lower quality names that may bounce higher but fail to sustain growth.		View
2025 Q2	Jul 14, 2025	ROCKLINC Partners Fund	8.1%	8.9%	AEM.TO, AMZN, APOG, BIP.TO, BN.TO, BUR.L, CCO.TO, FNV.TO, GROY, META, MKL, MSFT, OR.TO, RGLD, ROP, SAND.TO, TSU.TO, WPM.TO	AI, Canada, energy, gold, Mining, nuclear, Precious Metals, uranium	The nuclear power industry is undergoing a renaissance as nations embrace nuclear energy to address climate challenges. Nuclear provides reliable 24/7 baseload energy with near-zero carbon emissions. The next wave of growth will come from power-hungry data centers, with major tech companies signing long-term nuclear power purchase agreements.	CCO.TO CCO CN	View
2025 Q1	May 1, 2025	Conestoga Mid Cap Composite	1.0%	1.0%	ALGN, BFAM, CPRT, CSGP, FTNT, GNRC, GWRE, HEI.A, IT, RGEN, ROL, ROP, TECH, TYL, VRSK, WCN, WSO, WST	growth, healthcare, industrials, mid cap, Quality, technology	Conestoga's emphasis on higher-quality, conservative growth companies with higher recurring revenue, more stable product cycles, and less capital-intensive investment requirements was key to outperformance. The portfolio benefited from high-quality factor leadership as profitable companies measured by Return on Invested Capital and EBITDA margins declined less significantly than their high beta, non-earning counterparts.		View
2026 Q1	Apr 29, 2026	Weitz Partners III Opportunity Fund	-8.1%	-8.1%	ACN, CRM, DHR, IEX, LBRDK, MSFT, POOL, ROP, SIRI, TMO, TXN, V, VMC	AI, energy, Geopolitical, Long/Short, software, technology, value			View
2026 Q1	Apr 29, 2026	ROCKLINC Partners Fund	0.3%	0.3%	AEM.TO, BUR.L, CCO.TO, CSL, KNSL, MELI, NOW, PLD, ROP, ROYP, SII.TO	deficits, energy, Fiscal, gold, materials, Precious Metals, royalties, Silver		CSL	View
2024 Q1	Apr 28, 2024	Akre Focus Fund	11.8%	18.6%	AMT, BAM, BN, CSGP, CSU.TO, KKR, MA, MCO, ORLY, ROP, SBAC, TOI.TO, V	active management, Concentration, large cap, Passive investing, technology, value	The fund discusses the shift to passive index-replicating ETFs and mutual funds, questioning whether this trend has gone too far and whether the stock market is now broken. They argue that passive investing depends on active investors for price discovery and value judgments.		View
2024 Q1	Apr 25, 2024	ROCKLINC Partners Fund	3.8%	12.2%	AAPL, ADSK, AEM, ALS.TO, AMZN, APG, BEPC, BIP, BN, CCO.TO, DHR, FNV, GROY, MEG.TO, OR.TO, RGLD, ROP, SSL.TO, TSU.TO, WPM	Automation, Canada, energy, gold, infrastructure, oil, Precious Metals, value	Gold jumped 7.6% during the quarter and 23.5% over the past twelve months, finishing at a new high of $2,220.37. The manager believes long-term trends for precious metals are to the upside and continues building positions in this sector through royalty companies and leading miners.	APG	View
2024 Q1	Apr 15, 2024	Baron Asset Fund	8.3%	10.6%	ACGL, ANSYS, CSGP, DAY, FDS, FICO, GWRE, HLT, IDXX, IT, MTD, PCOR, ROP, SPOT, TECH, TTD, VEEV, VRSK, VRSN	growth, healthcare, industrials, Long Term, mid cap, software, technology	The market has been focused on a narrow group of companies perceived to be AI beneficiaries. Many of Baron's holdings are well positioned to utilize AI to expand their product offerings and competitive differentiation, increase their growth rate and reduce their cost structure. Gartner is expected to emerge as a key decision support resource for every company evaluating AI opportunities and risks.	SPOT PCOR	View
2025 Q1	Apr 10, 2025	Akre Focus Fund	1.5%	1.5%	ABNB, AMT, BN, CCCS, CSGP, CSU.TO, DHR, KKR, MA, MCO, ORLY, ROP, TOI.TO, V	Cash, Concentration, Discipline, Patience, Quality, valuation, value	The fund emphasizes valuation discipline as a core investment principle, requiring mid-to-high-teens annualized returns under base-case scenarios and positive returns under low-case scenarios. They use the metaphor of Gravity's Rainbow to describe considering the full arc of valuation cycles, not just the rising half. This discipline often requires waiting years for appropriate entry points and significant price drops before deploying capital.		View
2025 Q1	Apr 10, 2025	ROCKLINC Partners Fund	0.7%	0.7%	AAPL, AEM.TO, AMZN, BIP.TO, BN.TO, BUR.L, FNV.TO, GROY, KPGHF, MEG.TO, MKL, OR.TO, PGR, RGLD, ROP, SSL.TO, SU.PA, TSU.TO, WPM.TO	Canada, gold, inflation, Precious Metals, royalties, tariffs, value	Gold increased 19% during the quarter and 40.7% over the past twelve months, finishing at $3,124. The manager believes long-term trends for precious metals are to the upside and continues building positions in this sector. Gold has outpaced the S&P 500 over the past 25 years with 9.87% annual compound growth versus 7.76% for the S&P 500.	KPGHF	View
2026 Q1	Mar 31, 2026	Akre Focus Fund	-19.4%	-19.4%	BN, CCCS, CPRT, CRM, CSGP, CSU.TO, FICO, KKR, LVMUY, MA, MCO, NOW, ORLY, ROP, TOI.TO, V	AI, Concentration, private credit, Quality, software, valuation		BN KKR CSU.TO	View
2026 Q1	Mar 31, 2026	Dodge & Cox Stock Fund	-1.7%	-1.7%	BKNG, MSFT, ROP	AI, energy, financials, large cap, software, technology, value		BKNG ROP MSFT	View
2026 Q1	Mar 31, 2026	Oakmark Fund- International Small Cap	-2.5%	-2.5%	ACN, ADBE, COP, CRM, MMC, NFLX, RJF, ROP, SYF, SYY	AI, Buybacks, energy, large cap, software, technology, value			View
2025 Q1	Mar 31, 2025	Baron Asset Fund	-3.0%	-3.0%	ACGL, CSGP, DKNG, FICO, GWRE, H, IDEXX, IT, MTD, ONON, ROP, SAIL, SCHW, SPACEX, SPOT, TECH, TTD, VRSK, VRT, WST	AI, Data centers, growth, insurance, mid cap, tariffs, technology	The fund holds X.AI Holdings Corp., which is developing an AI model to understand the true nature of the universe. xAI launched Grok 3, demonstrating elevated user engagement and top scores in evaluation tests, surpassing other industry-leading AI models. The company operates the world's largest coherent training center with over 100,000 GPUs.	DKNG VRT VRSK GDWR	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
2024 Q4	Dec 31, 2024	Wasatch Long/Short Alpha Fund	-8.3%	7.2%	ACHC, ENSG, FND, GWRE, HLNE, HQY, ICFI, IONQ, KAI, MORN, NSA, PCTY, RBC, ROP	Beta, Defensive, Long/Short, Mid Caps, risk management, small caps	The Fund has shorted stocks of special purpose acquisition companies because their business models are speculative and their paths to steady compounded earnings growth remain unclear. These stocks experienced sharp gains during the risk-on environment of the quarter.	IONQ ACHC FND ICFI HQY PCTY	View
2023 Q4	Dec 31, 2023	Conestoga Mid Cap Composite	8.4%	9.4%	ALGN, ANSS, CGNX, CPRT, CSGP, EXPO, FIVN, FTNT, HEI.A, IDXX, IT, JKHY, MTD, MTN, ROL, ROP, VEEV, VRSK, WCN, WST	growth, healthcare, industrials, mid cap, Quality, technology	Conestoga focuses on higher-quality companies with durable competitive advantages, balance sheet strength, and capable management teams. The portfolio faced stylistic headwinds as low-quality, unprofitable businesses outperformed during the quarter, particularly after the October 27th market bottom.		View
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	Wasatch Long/Short Alpha Fund	-7.3%	-	ENSG, FN, FOUR, FRPT, HQY, INSP, KAI, MEDP, MORN, MPWR, OPEN, OZK, RBC, ROP, SG, WDAY	AI, Biotech, healthcare, Long/Short, Quality, risk-on, small cap, Speculation	The fund focuses on long positions in high-quality companies while shorting low-quality businesses. The manager emphasizes that high-quality stocks have historically outperformed over the long term despite recent underperformance. The fund screens companies based on financial characteristics like return on assets and operating profit margins.		View
2024 Q3	Oct 23, 2024	Conestoga Mid Cap Composite	8.4%	9.4%	ANSS, CPRT, CSGP, FIVN, FTNT, GWRE, HEI.A, IDXX, IT, PCOR, POOL, RGEN, ROL, ROP, TFX, TYL, VEEV, VRSK, WCN, WST	growth, healthcare, industrials, mid cap, software, technology	Fortinet led portfolio returns as the cybersecurity leader reported significant beats on billings and accelerating bookings growth, indicating the firewall product cycle may have turned positive. The company is managing inventory well and operating margins surprised to the upside.		View
2025 Q3	Oct 20, 2025	NZS Capital – Growth	3.9%	19.6%	ADSK, AMT, APH, ASML, CMG, CSU.TO, DHR, FI, GOOGL, IT, LRCX, MCHP, MPWR, NOW, ROP, SNPS, TEAM, TSM, URI, WDAY	AI, cybersecurity, growth, Identity, semiconductors, software, technology	NZS discusses AI as the largest platform shift yet, threatening business models while promising productivity advances. They emphasize the widening range of outcomes and the need to avoid narrow predictions in AI investing. The firm highlights AI's expansion of the total addressable market for identity governance and security software.	SAIL SAIL	View
2023 Q3	Oct 19, 2023	Akre Focus Fund	11.8%	18.6%	ADBE, AMT, BN, CSGP, CSU.TO, DHR, KKR, MA, MCO, ORLY, ROP, TOI.TO, V	Concentration, financials, interest rates, Quality, real estate, technology, value	The second quarter narrative abruptly changed to bullishness on artificial intelligence, giving rise to the Magnificent 7 market darlings. These seven companies were largely responsible for the S&P 500's 13.07% year-to-date return through September, while the S&P 493 excluding them only returned 3.18%.		View
2024 Q3	Oct 17, 2024	ROCKLINC Partners Fund	3.8%	12.2%	AAPL, ADSK, AEM.TO, ALS.TO, AMZN, APG, BAM, BUR, CCO.TO, CHD, DHR, FNV.TO, GROY, MEG.TO, MKL, OR.TO, RGLD, ROP, SE, SSL.TO, SU.TO, TSU.TO, WPM.TO	Canada, energy, gold, infrastructure, Litigation, Precious Metals, royalties, value	Gold jumped 13.4% during the quarter and is up 42.5% over the past twelve months, finishing at $2,634. The manager believes long-term trends for precious metals are to the upside and continues building positions in this sector. Many precious metals mining companies and royalty businesses are undervalued relative to gold and silver prices.	BUR	View
2023 Q3	Oct 17, 2023	ROCKLINC Partners Fund	3.8%	12.2%	AAPL, ADSK, AEM, ALS.TO, AMT, AMZN, BEPC, BIP, DHR, FNV, MEG.TO, ROP, SSL.TO, SU.TO, TSU.TO, WPM	Canada, energy, gold, infrastructure, interest rates, Specialty Insurance, value	Manager maintains large positions in precious metals royalty companies including Franco-Nevada, Gold Royalty Corp., Osisko Royalties, Royal Gold, Sandstorm Gold, Wheaton Precious Metals and Agnico Eagle Mines. These companies are trading at substantial discounts to intrinsic value and are positioned to benefit from global turmoil and overindulgent governments.	TSU.TO	View
2025 Q3	Oct 16, 2025	ROCKLINC Partners Fund	9.7%	-	AEM.TO, AMZN, BN, BUR.L, CCO.TO, FNV.TO, GROY, HCU.V, KPG.AX, MKL, OR.V, RGLD, ROP, SSL.TO, TSU.TO, WPM.TO	Canada, ETFs, gold, Mining, Resources, royalties, value	Gold hit record highs over $4,200 in 2025, increasing 55% year-to-date and outperforming major indices. Driven by profligate government spending, unprecedented global debt levels of $337 trillion, inflationary money printing, and heightened geopolitical risk. Central banks have aggressively accumulated over 1,300 tonnes in 2025, the most since the 1970s.	SSL RGLD SSL RGLD	View
2024 Q3	Oct 14, 2024	Akre Focus Fund	11.8%	18.6%	ABNB, AMT, BN, CCCS, CSGP, CSU.TO, KKR, KMX, MA, MCO, ORLY, ROP, V	Compounding, Focus, long-term, Patience, Quality, returns	The fund emphasizes long-term compounding over 15+ years, achieving 9.0x returns since inception despite various market disruptions. Manager believes compounding takes place over time periods long enough to include bad and scary things, which is a comforting thought for patient investors.		View
2025 Q3	Oct 10, 2025	Akre Focus Fund	-3.4%	3.9%	BN, CSGP, CSU.TO, FICO, KKR, MA, MC.PA, MCO, ORLY, ROP, TOI.TO, V	AI, Compounding, ETF Conversion, software, tax efficiency, technology, Vertical Markets	The fund addresses concerns about AI disruption to vertical market software companies, particularly through AI-native competitors using large language models. However, they believe Constellation Software can navigate this technological shift due to customer intimacy and access to the same AI tools as competitors.	CSU CN	View
2024 Q3	Oct 10, 2023	NZS Capital – Growth	4.0%	22.0%	ADYEY, AMT, ASML, CDNS, CPRT, DHR, FI, GOOG, LRCX, LSCC, MCHP, MRNA, MSFT, NFLX, NVDA, PGR, ROP, TT, URI	AI, Automation, Digital, growth, insurance, semiconductors, technology	The manager remains bullish about the long-term implications of AI and is increasingly incorporating it into their research process. However, the market's focus shifted to consider returns on massive AI investments, reflecting concern around the wide range of outcomes. While value has been created at the infrastructure layer, they are still awaiting revenue generating killer apps from this generational technological shift.	PGR	View
2023 Q4	Oct 1, 2024	Akre Focus Fund	11.8%	18.6%	AMT, BN, CSGP, CSU.TO, KKR, MA, MCO, ORLY, ROP, V	financials, long-term, Quality, technology, value	The fund emphasizes investing in great businesses with quality standards and valuation discipline. They focus on business quality and value as primary drivers of investment decisions, maintaining these standards even when faced with compelling new themes that capture investor imagination.		View
2025 Q4	Jan 29, 2026	Weitz Partners III Opportunity Fund	0.7%	3.2%	AMZN, AON, BRK-A, CHTR, DHR, EEFT, GOOGL, GPN, IEX, KMX, LBRDA, LH, MA, META, MSFT, ROP, SIRI, TECH, TMO, V	AI, Biotechnology, contrarian, healthcare, Long/Short, technology, value	The fund owned several companies deemed AI Winners including Alphabet, Microsoft, Amazon and Meta Platforms, averaging roughly 16% of Fund assets in 2025. Google's latest Gemini AI release surpassed expectations with benchmarks showing performance moved to the front of the pack. The fund's deep value stocks averaging roughly 16% of portfolio assets had a disproportionately negative impact on returns in 2025. As value-oriented investors, the managers are comfortable taking contrarian positions but must be clear-eyed about how companies' prospects change. The portfolio's life sciences investments representing roughly 18% of average assets experienced a lost year in 2025. The industry began with pressure on research budgets and heightened scrutiny of healthcare apparatus, reorienting around a new normal before organic growth pickup spurred a rally.	BRK.B PRM CHTR KMX GOOGL	View
2025 Q4	Jan 26, 2026	NZS Capital – Growth	-1.4%	17.9%	AJG, APH, ASML, CDNS, CMG, CSU.TO, DHR, DNP.WA, FI, FND, FROG, GOOGL, HRTX, ISRG, LIN, LRCX, MNDY, PGR, ROP, TSM, URI	AI, growth, positioning, semiconductors, software, technology, valuation	The market created a wall of worry that AI would displace existing software companies, but NZS believes software systems of record are well positioned to adapt through AI integration. Software platforms are aggressively introducing AI functionality either through internal development or APIs. The range of outcomes has widened but there is a compelling bull case where AI leads to reduced churn, new revenue streams, and accelerated operating margin expansion. Cloud software companies saw valuations decline in 2025 as the market feared AI displacement, but NZS sees opportunity in systems of record and vertical market software. These companies have attractive fundamentals including sticky revenue streams, high margins, and mission-critical positioning. The portfolio's software positioning remains focused on systems of record and vertical market software which have the best chance of adapting to AI. Semiconductor names like Lam Research, Taiwan Semiconductor, and ASML were among the top contributors for the full year. The portfolio added to IT names amid weakness in the first half of 2025 before reallocating outside of IT in the third quarter as AI euphoria returned and multiples recovered.	ISRG TSM LRCX FISV DHR GOOGL	View
2025 Q4	Jan 18, 2026	Conestoga Mid Cap Composite	-5.8%	-4.7%	AAON, AZTA, BCPC, BLFS, BMI, BSY, BWMN, COCO, CPRT, CSGP, CSW, CWAN, CWST, CYX, DGII, DSGX, ELVA, ESE, FSV, GNRC, GWRE, HEI.A, IDXX, IIIV, IRMD, IT, JKHY, KRMN, LMAT, MAMA, MEG, MLAB, MMSI, NGEN, NOVT, ODD, OLO, PHR, PL, PLMR, POOL, QTWO, RBC, RGEN, ROAD, ROL, ROP, SPSC, SSTI, STVN, TKNO, TREX, TRNS, TYL, UTI, VCEL, VEEV, VERX, VRSK, WCN, WLDN, WSO, WST	AI, Biotech, defense, healthcare, industrials, mid cap, Quality, technology	The manager emphasizes their focus on high-quality stocks with steady earnings characteristics, noting that their portfolio's emphasis on high-quality, steady earners continued to face headwinds in a market focused on short-term macroeconomic shifts. They believe quality stocks will eventually reclaim leadership after periods of low-quality outperformance. Small Cap biotechnology and pharmaceuticals emerged as significant outperformers in Q4, representing 132% of the Russell 2000 Growth Index's total returns. The manager notes they are materially underweight this sector, which created headwinds for relative performance as biotech rallied 33% for the year. The market showed persistent preference for AI-related hardware and infrastructure stocks, with AI themes dominating Index returns. The manager notes that capital flowed into more speculative AI names within the benchmark, creating valuation compression for traditional quality holdings. Defense-related stocks were among the key drivers of benchmark performance, with investors concentrating capital in defense stocks. The manager notes their lack of exposure to defense contractors weighed on relative results as this sector outperformed significantly.	GNRC BSY CSGP VEEV POOL WST IDXX ROL RGEN JKHY	View
2025 Q4	Jan 18, 2026	Conestoga SMid Cap Composite	-2.7%	-4.7%	AAON, AZTA, BCPC, BLFS, BMI, BSY, BWMN, COCO, CPRT, CSGP, CSW, CWAN, CWST, CYX, DGII, DSGX, ELVA, ESE, FSV, GNRC, GWRE, HEI.A, IDXX, IIIV, IRMD, IT, JKHY, KRMN, LMAT, MAMA, MEG, MLAB, MMSI, NGEN, NOVT, ODD, OLO, PHR, PL, PLMR, POOL, QTWO, RBC, RGEN, ROAD, ROL, ROP, SPSC, SSTI, STVN, TKNO, TREX, TRNS, TYL, UTI, VCEL, VEEV, VERX, VRSK, WCN, WLDN, WSO, WST	Biotechnology, defense, growth, industrials, Quality, small caps, technology	Small Caps achieved nearly 9% earnings growth in 2025 and are projected to grow by an additional 32% in 2026, contrasting with 13% growth expected for Large Caps. Small Caps are trading at a nearly 25% discount to Large Caps, creating a compelling case for outperformance for the first time since 2020. The market experienced extreme leadership concentrated in low-quality, high-beta, unprofitable stocks during the April-October rally. However, profitable stocks began outperforming unprofitable counterparts by over 5% from mid-October through year-end, suggesting high-quality stocks may be reclaiming leadership. Small Cap Biotech/Pharmaceutical stocks represented 132% of the Russell 2000 Growth Index's total returns in the fourth quarter alone, after comprising just 11% through the third quarter. The bioprocessing market showed clear signs of recovery with companies delivering encouraging order growth. Defense technology companies specializing in highly engineered, mission-critical systems showed strong performance. Companies with exposure to space, missiles, hypersonic, and defense programs generated mid-teens organic revenue growth complemented by acquisitions.	GNRC KRMN AAON ROAD STVN TREX POOL FSV CWAN CSW JKHY RBC RGEN	View
2024 Q4	Jan 17, 2025	ROCKLINC Partners Fund	4.7%	17.4%	AAPL, ADSK, AEM, AMZN, BN, BRK-B, BUR.L, CCO, DHR, FNV, GROY, MEG.TO, MKL, OR.TO, RGLD, ROP, SAND, SE, TSU.TO, WPM	Canada, gold, inflation, insurance, Precious Metals, Quality, royalties, value	Gold finished up 27% over the past twelve months, continuing to power ahead despite the strong USD, indicating all fiat currencies are losing ground to hard assets. Many precious metals mining companies and royalty businesses are undervalued relative to the price of gold and silver, trading at discounts to intrinsic value.	MKL	View
2025 Q4	Jan 15, 2026	ROCKLINC Partners Fund	0.7%	20.3%	AAPL, ACA, AEM.TO, AMZN, APG, BIP.TO, BN.TO, BUR.L, CCO.TO, CSL, DHR, FNV.TO, GROY, KNSL, KPG.AX, MELI, MKL, NOW, OR.V, PLD, RGLD, ROP, RPRX, SII.TO, TSU.TO, WPM.TO	active management, Canada, ETFs, gold, Precious Metals, Silver, uranium, value	Gold delivered one of its strongest annual performances in decades during 2025, with a 64.5% gain to $4,318 per ounce. The acceleration in Q4 underscores persistent safe-haven demand amid geopolitical tensions, central bank buying, inflation hedging, massive global debts and a favorable macro backdrop with lower real yields on fixed income securities. Silver far outpaced even gold with explosive momentum in the final quarter, delivering a colossal 147.5% gain for the year to $71.54 per ounce. This reflects gold's safe-haven spillover plus strong industrial demand from solar, electronics, EVs, and AI-related applications, chronic supply deficits, and early cycle speculative fervour. The firm's significant allocation to precious metals royalty companies was the primary driver of outperformance in 2025. Precious metals staged historic rallies as hard assets and inflation hedges dominated, providing a powerful tailwind to resource-heavy Canadian indices amid broader global uncertainty. The new Rocklinc Principled Equity Fund focuses on undervalued securities through a concentrated portfolio of 20 or fewer holdings, enabling conviction-driven investments based on deep fundamental analysis. The firm deliberately steers clear of overvalued securities trading at extreme multiples and resists purely speculative investments. Canada leads globally in active ETF adoption, with about 30% of total ETF assets under management being actively managed, compared to just 8% in the US. The firm launched the Rocklinc Principled Equity Fund ETF to tap into this booming market where investor demand and competition among providers are driving rapid growth. Sprott has successfully positioned itself at the center of the modern energy transition through its dominance in the uranium sector. The Sprott Physical Uranium Trust is now the largest holder of physical uranium in the world, effectively becoming the institutional gateway for nuclear energy exposure.	SII	View
2025 Q4	Jan 13, 2026	Mar Vista US Quality Select	0.2%	12.8%	AAPL, AMZN, APH, AVGO, CRM, DHR, EFX, GOOG, JNJ, LIN, META, MSFT, NFLX, NVDA, ORCL, ROP, SAP, TSM, V	AI, Cloud, growth, large cap, Quality, semiconductors, Streaming, technology	The structural shift driven by Artificial Intelligence is transitioning from proof-of-concept to demonstrable return on investment. Early monetization is visible in advertising, cloud computing, and semiconductors. Companies deploying AI infrastructure are seeing tangible improvements in ROIC through more efficient ad targeting and premium AI cloud services. Cloud computing continues to be a key beneficiary of AI infrastructure deployment. Google Cloud emerged as a standout performer with 34% revenue growth and $155 billion backlog. Microsoft's Azure platform remains capacity-constrained with accelerating growth and increasing adoption of Copilot offerings. Taiwan Semiconductor represents the dominant manufacturer for leading fabless chip designers including NVIDIA, Apple, and Broadcom. The global arms race to develop artificial general intelligence will support multiple years of robust growth for foundries with leading-edge capabilities. Netflix has built a durable economic moat around its globally-scaled streaming business. With more than 300 million members, Netflix enjoys the lowest content cost per subscriber in the industry, enabling it to profitably outspend rivals and accelerate its competitive flywheel.		View
2025 Q4	Jan 13, 2026	Mar Vista US Quality Select	1.8%	18.2%	AAPL, AMT, AMZN, APH, AVGO, BRK-B, EFX, GOOG, META, MSFT, MTD, NFLX, NVDA, ORCL, ROP, TSM, VLTO	AI, Cloud, growth, large cap, Quality, semiconductors, Streaming, technology	The structural shift driven by Artificial Intelligence is transitioning from proof-of-concept to demonstrable return on investment. Early monetization is visible in advertising, cloud computing, and semiconductors where companies are seeing tangible improvements in ROIC. The transition from infrastructure build-out to enterprise and consumer monetization will accelerate into 2026. Cloud computing continues to show strong growth with Google Cloud reaching 34% revenue growth and a $155 billion backlog. Microsoft's Azure platform remains capacity-constrained with accelerating growth. Premium AI cloud services are driving high utilization and multi-year contracts. Taiwan Semiconductor represents the dominant manufacturer for leading fabless chip designers including NVIDIA, Apple, and Broadcom. The global arms race to develop artificial general intelligence will support multiple years of robust growth for foundries with leading-edge capabilities. Semiconductor manufacturing barriers to entry continue rising due to escalating costs. Netflix has built a durable economic moat around its globally-scaled streaming business with over 300 million members. The company enjoys the lowest content cost per subscriber in the industry, enabling it to profitably outspend rivals. The acquisition of Warner Bros. Discovery represents a shift from streaming platform to global media powerhouse.	ROP EFX NFLX TSM MSFT META ORCL AAPL MTD GOOG ROP EFX NFLX TSM LIN MSFT ORCL DHR JNJ GOOG	View
2025 Q4	Jan 12, 2026	Akre Focus Fund	-2.8%	1.2%	ABNB, BN, CCC, CSGP, CSU.TO, FICO, GOOGL, KKR, MA, MC.PA, MCO, MSFT, NVDA, ORLY, ROP, TOI.TO, V	AI, Concentration, ETF, Quality, software, value	The manager believes AI concerns about their software holdings are overblown and that their businesses will be enormous beneficiaries of AI. They argue that much of the business and financial benefit from AI will accrue to already-advantaged users of AI tools rather than providers, particularly businesses with customer intimacy, ecosystem dominance, and proprietary data. AI is viewed as the first technological shift to favor incumbents over new entrants. The manager emphasizes their focus on quality businesses with durable competitive advantages, strong balance sheets, excellent returns on capital, and high profitability. They note that quality has historically outperformed over time, citing the S&P 500 Quality Index's superior long-term returns versus the S&P 500. The current performance disparity between quality and growth reminds them of 1999. The fund converted from mutual fund to ETF structure in October 2025. The manager discusses their unorthodox approach to ETF management, using cash-only create baskets to maintain opportunistic deployment rather than pro-rata approaches. They favor buying stocks at known prices rather than receiving shares in-kind at unknown prices through the ETF creation process.		View
2025 Q4	Jan 12, 2026	REQ Global Compounders	0.0%	0.0%	ADDTECH-B.ST, APH, BERG-B.ST, BRO, CSU.TO, DPLM.L, GREEN.ST, HEI, HLMA.L, IMCD.AS, INDU-A.ST, JDG.L, LAGR-B.ST, LIFCO-B.ST, LMN.TO, MOMENT.ST, NCAB.ST, NIBE-B.ST, ROKO.ST, ROP, TOI.TO	Acquisitions, AI, Capital Allocation, compounders, Decentralized, long-term, Quality, software	AI narrative has negatively impacted vertical-market software companies, representing 20% of Global fund exposure. Management believes AI poses opportunities rather than uniform threats to VMS, particularly for mission-critical systems with high switching costs. They view trusted incumbents as better positioned to deploy AI effectively than new entrants. Portfolio companies completed 145 acquisitions in 2025, with 70% outside Nordic countries. Companies maintain disciplined approach to M&A with average acquired sales of EUR 12m. Acquisition-driven compounders demonstrate resilience through dual growth engines of organic growth and acquisitions. AI infrastructure build-out has been a clear tailwind for companies exposed to data center expansion. Halma and Diploma benefited from demand for compute, power, cooling, and electrical systems. Amphenol saw robust demand as data-center architectures evolve to support higher power densities. Tariff and trade-related uncertainty under Trump administration affected portfolio companies including IMCD and Judges Scientific. IMCD experienced macroeconomic pressure from tariffs, while policy uncertainty created headwinds for university funding affecting Judges Scientific.	CSU CN BRO JDG LN	View
2024 Q4	Jan 11, 2025	Akre Focus Fund	-0.5%	18.0%	AMT, BN, CCCS, CSGP, CSU.TO, DHR, KKR, KMX, MA, MCO, ORLY, ROP, TOI.TO, V	Compounding, Concentration, large cap, Long Term, Quality, value	The manager emphasizes compounding as a distinct discipline requiring time, endurance, and proper expectations. They argue that financial innovation and abstraction through ETFs has shortened holding periods, undermining compounding potential. The fund focuses on identifying businesses capable of compounding capital at above-average rates for very long periods.		View
2024 Q3	Sep 30, 2024	Baron Asset Fund	8.3%	10.6%	ACGL, COO, CSGP, DUOL, DXCM, FDS, FICO, GWRE, ICON, IDXX, IT, LPLA, MTD, ROP, SCHW, TRU, VMC, VRSK, WELL, WST	growth, healthcare, mid cap, rates, real estate, software, technology	Gartner positioned to emerge as key resource for companies evaluating AI opportunities and risks on their business. This should provide tailwind to Gartner's volume growth and pricing realization over time. Duolingo's AI tier (Max) allows users to have real-time conversations with AI-based characters.		View
2024 Q3	Sep 30, 2024	Weitz Large Cap Equity Fund	7.8%	13.3%	ADBE, AMZN, AON, BRK-B, CHTR, CSU.TO, EFX, GOOGL, GPN, IEX, MCHP, META, ODFL, ORCL, ROP, SPGI, VEEV	concentrated, large cap, Quality, technology, value	The fund employs a Quality-at-a-Discount approach, seeking concentrated positions in undervalued companies. The portfolio trades at a price-to-value in the very low 90s, offering adequate return potential over a multi-year period. The manager emphasizes valuation-sensitive investing with discipline.		View
2023 Q3	Sep 30, 2023	Conestoga Mid Cap Composite	8.4%	9.4%	BALL, CGNX, CPRT, CSGP, FDS, FTNT, GGG, GNRC, GWRE, HEI.A, IDXX, POOL, RGEN, ROL, ROP, VEEV, VRSK, WCN, WST	growth, healthcare, interest rates, mid cap, Quality, technology	Conestoga emphasizes higher-quality companies with positive earnings, higher margins, higher returns on equity, and lower debt levels. This quality focus is positioned to outperform in an environment facing higher interest rates and potential recession.	OMCL CSWI	View
2024 Q2	Jul 27, 2024	Baron Asset Fund	8.3%	10.6%	AAPL, ACGL, AMZN, BAH, CSGP, DDAY, FDS, FICO, GOOGL, GWRE, IDXX, IT, META, MSFT, MTD, MTN, NVDA, PCOR, RGEN, ROP, SPOT, TROW, TSLA, VMC, VRSK, VRSN	AI, growth, healthcare, industrials, infrastructure, insurance, mid cap, technology	The Fund participated in X.AI Corp's Series B fundraising round, founded by Elon Musk to develop AI to understand the true nature of the universe. X.AI has unique access to X.com's data representing one of the largest repositories of real-time, multimodal human interaction data with nearly 600 million monthly users. The company plans to deploy one of the world's largest computing clusters with 100,000 GPUs and aims for 300,000 stronger GPUs by summer 2025.	VMC XAI FICO GWRE VRSK	View
2023 Q2	Jul 20, 2023	Weitz Partners III Opportunity Fund	9.1%	14.1%	AMZN, AON, BRK-B, CHTR, DHR, EEFT, GOOGL, GPN, IEX, KMX, LBRDK, MA, META, MSFT, PMS, ROP, SIRI, TECH, TMO, V	AI, contrarian, large cap, Long/Short, technology, underperformance, value	The fund owned several companies deemed AI Winners including Alphabet, Microsoft, Amazon and Meta Platforms, which averaged roughly 16% of fund assets in 2025. Alphabet was the fund's top performer in both the quarter and year, with the latest Gemini AI release surpassing expectations and moving to the front of the pack on several benchmarks.	LBRDA BRK/A\|CSGP\|KMX	View
2023 Q2	Jul 19, 2023	ROCKLINC Partners Fund	3.8%	12.2%	AAPL, ADSK, AEM.TO, ALS.TO, AMT, AMZN, BEP, BIP, CSGP, DHR, FNV, LIN, MEG.TO, OR.TO, RGLD, ROP, SAND, SU.TO, TSU.TO, WPM	Currency, energy, Esg, infrastructure, Precious Metals, rates, real estate, value	The Biden administration implemented new mortgage pricing policies that penalize borrowers with high credit scores and large down payments while subsidizing those with poor credit. This woke policy reverses creditworthiness incentives and will likely lead to greater homeownership gaps and increased poverty, similar to previous failed housing initiatives.	ACGL\|APH\|COO\|CSGP\|DKNG\|GWRE\|IDXX\|IOT\|IT\|LPLA\|MSCI\|MTD\|PCOR\|ROP\|TECH\|VRSK	View
2024 Q2	Jul 14, 2024	Akre Focus Fund	11.8%	18.6%	AAPL, AMT, BN, CSGP, CSU.TO, DHR, KKR, KMX, MA, MCO, MSFT, NVDA, ORLY, ROP, V	Concentration, financials, large cap, Mega Cap, technology, value	The manager extensively discusses the unprecedented concentration in mega-cap stocks, particularly Apple, Microsoft, and Nvidia with $3+ trillion market caps each. He questions whether these companies can continue compounding at historic rates given the law of large numbers, noting their combined value approaches 36% of US GDP under 15% annual growth assumptions.		View
2024 Q2	Jun 30, 2024	Conestoga Mid Cap Composite	8.4%	9.4%	CPRT, CSGP, GWRE, HEI.A, IDXX, IT, LSPD, POOL, RGEN, ROL, ROP, TYL, VEEV, VRSK, WCN, WST	growth, healthcare, mid cap, software, technology	Manager discusses the prolonged underperformance of small cap stocks versus large caps, noting this feels like peak pessimism for small caps. They believe the current environment parallels past cycles like the Nifty Fifty and Dot Com eras, with small cap valuations near early 2000s lows.		View
2023 Q2	Jun 30, 2023	Conestoga Mid Cap Composite	8.4%	9.4%	AAPL, ANSS, CPRT, CSGP, FDS, GGG, GWRE, HEI.A, IDXX, MSFT, MTD, RGEN, ROL, ROP, TSCO, VRSK, WCN, WST	consumer discretionary, growth, healthcare, industrials, mid cap, technology	The manager focuses on high quality conservative growth companies with sustainable earnings growth and strong balance sheets. They employ a time horizon arbitrage approach by identifying higher quality companies capable of growing through multiple business cycles.		View
2023 Q1	Apr 17, 2023	ROCKLINC Partners Fund	3.8%	12.2%	AAPL, ADSK, ALS.TO, AMZN, CNQ.TO, FNV.TO, GLEN.L, ICE, LIN, MEG.TO, OR.TO, PGR, ROP, SU.TO, WPM.TO	Banking Crisis, Critical Minerals, Energy Transition, gold, inflation, oil, royalties	High demand for copper, lithium, cobalt and nickel driven by electric vehicle production and renewable energy infrastructure. Copper demand expected to nearly double to 50M metric tons by 2035. Supply shortages likely as new mines take years to develop.	ALS.TO	View
2023 Q1	Mar 31, 2023	Weitz Partners III Opportunity Fund	9.1%	14.1%	AMZN, AON, BRK-B, CHTR, DHR, EEFT, GOOGL, GPN, IEX, KMX, LBRDK, LH, MA, META, MSFT, ROP, SIRI, TECH, TMO, V	AI, healthcare, Long/Short, technology, Telecommunications, value	The fund owned several companies deemed AI Winners including Alphabet, Microsoft, Amazon and Meta Platforms, averaging roughly 16% of fund assets in 2025. Alphabet was the top performer with the latest Gemini AI release surpassing expectations and moving to the front of the pack on several benchmarks.	LBRDA BRK/A\|CSGP\|KMX	View
2024 Q4	Feb 24, 2025	Mar Vista Global Equity Fund	-3.3%	12.7%	AAPL, AMT, AMZN, ASML, AVGO, BN, CRM, DHR, DIS, GOOGL, INTU, META, MSFT, NESN.SW, NOVO-B.CO, NVDA, ROP, TSLA	AI, Cloud, global, growth, large cap, Quality, semiconductors, technology	Artificial intelligence stands out as a particularly exciting prospect, drawing parallels to the revolutionary impact of automobiles in the 1920s. Industry experts believe artificial intelligence will meaningfully enhance worker productivity and generate efficiencies across various sectors, potentially justifying the current elevated market valuations. The manager focuses on companies positioned to capitalize on opportunities presented by artificial intelligence and technological advancements.	ASML AMZN CRM AVGO	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
2024 Q4	Jan 29, 2025	Weitz Large Cap Equity Fund	-0.6%	12.7%	ADBE, AMZN, CHTR, CRM, CSGP, DHR, EFX, GOOGL, GPN, IEX, MA, MCHP, META, ODFL, ORCL, ROP, SPGI, TMO, V	Concentration, large cap, Quality, technology, value	The fund employs a Quality-at-a-Discount approach to investing, emphasizing concentrated, valuation-sensitive investing. The portfolio trades at a price-to-value in the high 80s, which they believe offers adequate return potential over a multi-year period.		View
2024 Q4	Jan 29, 2025	Baron Asset Fund	-0.1%	10.5%	ACGL, ANSYS, AXON, AZPN, CDW, CSGP, DAY, FICO, GWRE, ICLR, IDXX, IT, MTD, MTN, PCOR, ROP, SCHW, TTAN, VRSK, WELL	growth, healthcare, industrials, Long Term, mid cap, Quality, technology	The fund discusses AI through its investment in X.AI Corp, founded by Elon Musk, which has developed the Grok AI model that has achieved impressive results compared to established AI models. The company operates the Colossus data center with over 100,000 GPUs, making it the largest coherent training center globally. The upcoming Grok 3 release is expected to significantly improve capabilities and expand monetization strategies.	STTN	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	View
2023 Q4	Jan 27, 2024	Weitz Large Cap Equity Fund	7.8%	13.3%	ADBE, AMZN, AON, CHTR, CRM, DHR, EFX, FIS, GOOG, GPN, IT, LBRDK, LLYVK, META, ORCL, ROP, SCHW, TMO, VLTO	Concentration, growth, large cap, Rotation, technology, value	The letter emphasizes value investing principles, citing Benjamin Graham and David Dodd's Security Analysis and Horace's quote about fallen stocks being restored. The manager discusses how previously fallen growth companies became top performers in 2023, demonstrating the value investing principle that controversy often leads to outsized returns.	CGPN.L VLTO	View
2023 Q4	Jan 23, 2024	ROCKLINC Partners Fund	3.8%	12.2%	AAPL, ADSK, AEM, ALS.TO, AMZN, BEPC, BIP, DHR, FNV, GOOGL, ICE, MEG.TO, OR.TO, PGR, RGLD, ROP, SAND, SU.PA, TSU.TO, WPM	Copper, Data centers, Electrical Grid, gold, infrastructure, royalties, technology, value	Franco-Nevada faced significant challenges when climate activists forced closure of Cobre Panama mine, representing 18% of NAV. Manager views this as creating attractive opportunity with potential upside if mine reopens. Continues building positions in precious metals royalty companies including Franco-Nevada, Wheaton Precious Metals, and others.	SU.PA FNV	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 23, 2026	Fund Letters	Dodge & Cox Stock Fund	Roper Technologies	Software - Application	Application Software	Bull	NASDAQ	forward earnings, Free Cash Flow, Share Buyback, SMB, Software, Systems of Record, Technology Solutions	View Pitch
Jan 27, 2026	Fund Letters	Silas Myers	Roper Technologies Inc.	Application Software	Application Software	Bear	New York Stock Exchange	Acquisitions, Moat, Organic, Saturation, Software, valuation	View Pitch
Jan 27, 2026	Fund Letters	Silas Myers	Roper Technologies, Inc.	Information Technology	Application Software	Neutral	NASDAQ	Organicgrowth, Reinvestment, SaaS, Saturation, valuation	View Pitch
Dec 5, 2025	Fund Letters	Derek Johnston	Roper Technologies, Inc.	Information Technology	Application Software	Bull	NASDAQ	Acquisitions, cashflow, compounder, Recurring, Software	View Pitch
Oct 24, 2025	Value Investors Club	valueinvestor03	Roper Technologies Inc.	Information Technology	Application Software	Bull	NYSE	Moat, vertical market software	View Pitch
Aug 7, 2025	Seeking Alpha	The Alpha Analyst	Roper Technologies	Information Technology	Software - Application	Bull	NASDAQ	—	View Pitch
Aug 7, 2025	Seeking Alpha	Ian Bezek	Roper Technologies	Information Technology	Software - Application	Bull	NASDAQ	—	View Pitch

BSD Shareholders of ROP

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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