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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2023 Q3 | Sep 30, 2023 | Carillon Eagle Growth & Income Fund | - | - | ABBV, ADP, AVGO, AZN, BLK, CVX, ETN, JPM, MCD, MRK, MSFT, NEE, RTX, TEL, UNH | AI, dividends, income, interest rates, large cap, Quality, technology | The fund remains committed to investing in companies that pay and increase their dividends on a consistent basis. Management is pleased with the dividend growth that their companies have produced in 2023 and believes that income and income growth will serve clients well in the future. | View | |
| 2025 Q2 | Aug 27, 2025 | Cullen Enhanced Equity Income Fund | -1.2% | 4.5% | AAPL, AMZN, COP, CVX, DOW, GOOGL, JCI, META, MSFT, NSC, NVDA, PCAR, PPG, RTX, TSLA | AI, defensives, dividends, energy, growth, Options, tariffs, value | The strategy focuses on dividend-paying stocks with a 4.2% annualized dividend yield. Dividend increases improved to 5%, declared by 15 of the 33 active holdings. Value and High Dividend stocks have underperformed over the past several years, presenting a compelling opportunity as investor interest in dividend strategies is near record lows. | NSC COP PPG PCAR NSC COP PPG PCAR |
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| 2025 Q2 | Jul 8, 2025 | LVS Advisory – Event Driven | - | 3.6% | AMD, AMZN, BA, CW, GOOGL, ITOS, LMT, NVDA, RTX | aerospace, Biotech, defense, Event-Driven, growth, Industrial, Liquidations, nuclear | Rising demand for defense electronics driven by increased military computerization and AI integration. Global defense spending acceleration due to high-threat environment with NATO countries pledging increased spending. Foreign military sales growth including AUKUS submarine partnership and direct relationships with companies like Rheinmetall. | ITOS CW |
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| 2025 Q2 | Jul 8, 2025 | LVS Advisory – Growth | - | 15.8% | AMD, AMZN, BA, CW, GOOGL, ITOS, LMT, NVDA, RTX | aerospace, Biotechnology, defense, Event-Driven, growth, Industrial, Liquidations, nuclear | Curtiss-Wright benefits from multiple defense tailwinds including rising demand for defense electronics, increased US naval defense spending with Trump administration proposing 40% increase to naval shipbuilding budget, and rising foreign military sales. The company is deeply embedded in defense electronics across 400 platforms and 3,000 programs with substantial incumbency advantages. | ITOS CW CW |
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| 2025 Q2 | Jul 27, 2025 | Carillon Eagle Growth & Income Fund | - | - | ABBV, ABT, ACN, AVGO, CARR, DUK, ETN, GLW, GS, JPM, KO, LRCX, MCD, MDLZ, MSFT, ORCL, PG, PNC, RTX | AI, financials, growth, healthcare, income, large cap, semiconductors, technology | AI deployment continues to drive market performance with the Magnificent Seven up over 17%. The fund reduced AI exposure to neutral levels after taking profits, citing concerns about market concentration in this single catalyst. AI infrastructure spending by major tech companies continues to rise, supporting companies like Corning, Oracle, and Broadcom. | LRCX ABBV AVGO ORCL GLW ETN |
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| 2025 Q2 | Jul 17, 2025 | Dodge & Cox Stock Fund | 3.8% | 7.5% | ADBE, ADM, AON, BK, CVS, ELAN, FDX, FI, FIS, GOOGL, GS, JCI, MET, OXY, RTX, SATS, SCHW, TE, WFC, WTW | Bottom-up, Diversified, financials, fundamentals, industrials, large cap, technology, value | The Fund trades at only 14.4 times forward earnings as of September 30, a significant discount to both the S&P 500 (23.3 times) and the Russell 1000 Value Index (18.2 times). The valuation spread between U.S. value and growth stocks continues to be relatively wide, with Russell 1000 Value trading at 18.2 times forward earnings versus 31.1 times for the Russell 1000 Growth Index. | View | |
| 2025 Q2 | Jul 16, 2025 | Titan Wealth | - | - | 0005.HK, 0700.HK, AAPL, ADBE, AMD, AMZN, ATCO-A.ST, AVGO, BA.L, BABA, CAT, CRWD, DIS, GIVN.SW, GOOGL, HON, INTC, JNJ, KOG.OL, LHX, MC.PA, MELI, META, MOS, MSFT, NFLX, NVDA, ORCL, REGN, ROK, RTX, SIE.DE, SNY, TSLA, UL | AI, defense, emerging markets, geopolitics, industrials, infrastructure, tariffs, technology | Technology led portfolio performance with significant gains in AI infrastructure companies like Nvidia, Broadcom, AMD, and Oracle. The fund added exposure to AI semiconductors and infrastructure, with Sanlam Artificial Intelligence fund delivering strong returns of 10.2%. AI expansion through hardware and infrastructure businesses remains a key positioning theme. | View | |
| 2024 Q2 | Jul 10, 2024 | Dodge & Cox Stock Fund | 7.2% | 16.3% | ALNY, CI, COHR, CVS, FI, GE, GOOGL, GSK, HPE, HUM, JCI, MCHP, MET, MSFT, OXY, RTX, SCHW, SNY, WFC, ZBH | Concentration, financials, healthcare, large cap, technology, value | The Fund takes a cautious approach towards stocks with very optimistic outlooks for growth and margins, finding more opportunities in companies with lower valuations and less economic sensitivity. The Fund trades at an attractive valuation of 13.9 times forward earnings compared to 21.6 times for the S&P 500. | View | |
| 2024 Q1 | Jun 15, 2024 | ClearBridge Investments Large Cap Value | 0.0% | 0.0% | AMZN, ETN, GOOGL, INTC, META, MSFT, NEE, NFLX, NVDA, PANW, PYPL, RTX, UBER | growth, inflation, large cap, Mega Cap, rates, technology | Amazon and Microsoft both saw acceleration in cloud revenues and communicated increasing run rates for their AI-driven services. Meta is focusing on high-return AI investments while maintaining cost discipline. | View | |
| 2024 Q1 | May 7, 2024 | Longleaf Partners Fund | 10.4% | 10.3% | AMG, BIO, CHTR, CNHI, CNX, FBHS, FDX, FFH, FIS, H, IAC, K, LBRDA, LYV, MAT, RTX, WBD, WMG | Buybacks, free cash flow, Logistics, Media, Natural Gas, technology, value | Multiple portfolio companies are executing substantial share repurchase programs. FIS is repurchasing 10% of the company, CNX continues share repurchase at a double-digit annualized pace, and FedEx maintains a 6% annualized repurchase pace with another $5 billion program authorized. | WBD LBRDA FDX CNX FIS |
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| 2026 Q1 | Apr 8, 2026 | ClearBridge Investments Dividend Strategy | - | - | ADP, APO, AVGO, BX, ENB, EQT, HON, LHX, MSFT, NOC, ORCL, OTIS, RTX, TSM, WMB, XOM | AI, defense, dividends, energy, Geopolitical, inflation, semiconductors, software | View | ||
| 2026 Q1 | Apr 8, 2026 | ClearBridge Investments Large Cap Growth Strategy | - | - | ALNY, ASML, BX, COST, CRM, EQIX, ETN, FICO, GWW, INTU, LIN, MSFT, NFLX, ORCL, PYPL, RHHBY, RTX, SHW, TSM, TXN | AI, Biotechnology, defense, growth, industrials, large cap, semiconductors, technology | PYPL CRM ALNY ROG.SW TXN |
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| 2025 Q1 | Apr 8, 2025 | ClearBridge Investments Large Cap Growth Strategy | - | - | AAPL, ALC, AMZN, GOOGL, ICE, INTU, META, MMC, MNST, MSFT, NVDA, RTX, SBUX, SHW, SNPS, SPGI, TSLA, UBER, V | AI, growth, large cap, Magnificent Seven, semiconductors, tariffs, technology | The emergence of DeepSeek, a Chinese large language model with capabilities similar to the best LLMs but built with inferior chips and at lower cost, caused investors to question whether massive capex devoted to Gen AI would continue. Nvidia fell sharply despite delivering record financial results amid strong rollout for its newest Blackwell GPU system. | View | |
| 2025 Q1 | Apr 8, 2025 | Matrix Dividend Income | - | - | ABBV, BDX, BK, CSCO, DG, FI, GNRC, GS, HUM, JPM, LOW, MDT, META, PEP, QCOM, RTX, TGT, TMO, TSN, USB | dividends, financials, healthcare, tariffs, technology, value, volatility | The administration's tariff threats and April 2 Liberation Day 10% tariffs on all imports caused significant market disruption. Tariffs are viewed as policy mistakes that will increase inflation, slow economic growth, and force businesses and consumers to pull back on investments and spending. | TGT PEP GNRC |
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| 2025 Q1 | Apr 8, 2025 | Matrix Large Cap Value Strategy | - | - | ABBV, BDX, BK, CSCO, DG, FI, GNRC, GS, HUM, JPM, LOW, MDT, META, PEP, QCOM, RTX, TGT, TMO, TSN, USB | dividends, financials, healthcare, tariffs, technology, value, volatility | The administration's tariff threats and April 2 Liberation Day 10% tariffs on all imports created significant market disruption and economic uncertainty. The manager views these tariffs as a policy mistake that will lead to inflation and economic slowdown, comparing them to an act of war that taxes goods and disrupts the post-war economic system. | TGT PEP GNRC |
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| 2025 Q1 | Apr 5, 2025 | ClearBridge Investments Dividend Strategy | - | - | AIG, APO, AVGO, CVS, EIX, GILD, GOOGL, ITX.MC, KO, MSFT, NESN.SW, NOC, RTX, SAP, SRE, TEL, TMUS, WMB, XOM | defense, dividends, energy, tariffs, Utilities, value | The strategy focuses on companies with ability to deliver continued, robust dividend growth. Portfolio emphasizes quality compounders with steady dividend policies like Inditex. | TEL ITX.MC CVS |
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| 2024 Q1 | Apr 15, 2024 | Matrix Large Cap Value Strategy | 0.0% | 0.0% | ABBV, AEP, AMGN, APD, DUK, EBAY, FDX, JPM, NEE, PARA, PYPL, QCOM, RTX, SBUX, TSN, TXN, UNH | AI, dividends, financials, large cap, rates, technology, Utilities, value | Utilities were the worst-performing sector in 2023, creating opportunities to buy high-quality companies with predictable earnings and dividend growth. The sector has emerging growth potential as electricity demand for AI, data centers, and new technology is projected to rise rapidly through the end of the decade. Matrix increased utility exposure from 4% to 10.5% of the portfolio. | TSN AEP |
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| 2024 Q1 | Apr 15, 2024 | Matrix Dividend Income | 0.0% | 0.0% | ABBV, AEP, AMGN, APD, DUK, EBAY, FDX, JPM, NEE, PARA, PYPL, QCOM, RTX, SBUX, TSN, TXN, UNH | dividends, financials, large cap, Rate Cuts, technology, Utilities, value | Utilities were the worst-performing sector in 2023, creating opportunities to buy high-quality companies with predictable earnings and dividend growth. The sector has emerging growth potential as electricity demand for AI, data centers, and new technology is projected to rise rapidly through the end of the decade. Matrix increased utility exposure from 4% to 10.5% of the portfolio. | TSN AEP |
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| 2024 Q1 | Apr 15, 2024 | Dodge & Cox Stock Fund | 7.2% | 16.3% | AAPL, AEP, CHTR, CI, FI, GE, GILD, GOOGL, MCHP, MET, META, MSFT, NVDA, OXY, RTX, SCHW, SNY, SUI, TSLA, WFC | AI, financials, healthcare, industrials, large cap, technology, valuation, value | Many companies tied to artificial intelligence registered large gains during the quarter. NVIDIA, a world leader in AI computing, rose 82% and accounted for 24% of the S&P 500's performance in the first quarter. The AI theme contributed significantly to market concentration in the top performers. | View | |
| 2025 Q1 | Apr 12, 2025 | Longleaf Partners Fund | -5.1% | -5.1% | ACI, AMG, BIO, CNX, EXOR.MI, FDX, FIS, HFC, IAC, MAT, PVH, PYPL, RTX | Buybacks, energy, healthcare, technology, Trade Policy, value | Fund focuses on quality companies trading at significant discounts to intrinsic value with P/V ratio below 60%. Manager emphasizes value stock picking environment where nimble companies on offense are rewarded versus largest index companies. | PVH PYPL FDX CNX BIO RTX MAT IAC ACI |
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| 2026 Q1 | Mar 31, 2026 | ClearBridge Investments All Cap Growth | - | - | ADSK, APP, ASML, CRWD, DOCS, ETN, FCX, GWW, HUBS, ISRG, JCI, LHX, META, NFLX, PODD, RHHBY, RTX, TJX, TSM | AI, defense, growth, healthcare, materials, semiconductors, technology | ANET ROG.SW FCX TSM ASML APPL |
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| 2025 Q1 | Mar 31, 2025 | Cullen Value Fund | 1.4% | 1.4% | AXP, AXTA, BAC, CI, GD, JNJ, KVUE, MDLZ, MDT, MS, PKG, RTX, SIE.DE, SRE, TFC | AI, defense, dividends, healthcare, industrials, tariffs, value | Value stocks significantly outperformed Growth in Q1 with Russell 1000 Value up 2.1% versus Russell 1000 Growth down 10.0%. Growth stocks trade at a 94% premium to Value stocks, well above the 57% historical average. The rotation into Value stocks is in early stages of a potentially longer-term resurgence presenting compelling investment opportunities. | View | |
| 2025 Q1 | Mar 31, 2025 | ClearBridge Investments All Cap Growth | - | - | AAPL, ABBV, AMZN, APP, ARES, AVGO, CRL, CTAS, ELF, META, NVDA, RTX, SPGI, TGT, TJX, TSLA, UBER, UNH, V, VRTX | AI, earnings, growth, healthcare, Magnificent Seven, tariffs, technology | Trump's chaotic introduction of tariffs dominated headlines, with 25% steel and aluminum tariffs, additional 20% tariff on China, and 25% tariffs on most goods from Canada and Mexico. The multinational exposure of many holdings makes tariffs a key risk being monitored, with potential headwinds to GDP growth depending on substitutes and production shifting ability. | ARES APP |
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| 2025 Q1 | Mar 31, 2025 | ClearBridge Investments Large Cap Value | - | - | AAP, AVGO, BRK-B, CVS, CVX, EIX, GOOGL, LLY, MCHP, MCK, META, NOC, NVO, ORCL, ORLY, PGR, RTX, SRE, TRV, VNOM | AI, defense, energy, financials, healthcare, large cap, Utilities, value | The managers have taken advantage of expensive momentum-driven stocks to reallocate capital into areas where valuations are more reasonable yet fundamentals remain stable and defensive. The valuation gap between growth and value had reached historically extreme levels, making a reversion long overdue. | View | |
| 2025 Q1 | Mar 31, 2025 | Dodge & Cox Stock Fund | 3.5% | 3.5% | AMZN, AVTR, BUD, CHTR, CVS, FDX, FI, GILD, GOOGL, JCI, MET, RTX, SCHW, SNY, WFC | contrarian, financials, healthcare, industrials, tariffs, value, volatility | The fund trades at only 14.1 times forward earnings compared to 20.9 times for the S&P 500, representing a significant discount to the broader market. The valuation disparity between value and growth stocks narrowed during the quarter, with value outperforming growth substantially. | View | |
| 2025 Q1 | Mar 31, 2025 | Rewey Asset Management | -7.0% | -7.0% | AEM, BA, DCO, PDCO, RTX, WDOFF, ZYXI | aerospace, defense, gold, small caps, SMID, tariffs, Trade Policy, value | Trump's tariffs represent the dominant market theme in Q1 2025, creating uncertainty about negative economic impacts. The manager views tariffs as Trump's method to reduce budget deficit and spur domestic production, but believes Trump will ultimately seek deals rather than maintain high tariff levels. | DCO ZYXI AEM |
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| 2025 Q4 | Mar 2, 2026 | TYME Advisors | - | - | AAPL, AVAV, AVGO, BA.L, CBOE, FNV, GOOGL, MRK, NDAQ, NVDA, PLTR, RHM.DE, RTX, TPG, WPM | Alternatives, defense, Exchanges, gold, Japan, Long/Short, Quality, royalties | The entire world is rapidly rearming off an extremely low base of defense spending. This exposure focuses on companies that make armaments for nation state security and materially outperformed for the year. Gold is positioned as a superior store of value with reliable scarcity and the highest stock-to-flow ratio of any physical commodity. The manager created a magnified gold exposure called Gresham's Wrath that generates income while providing 1.5X exposure to gold prices. Exchanges operate as essential high-margin toll roads for the economy with immense operating leverage. They benefit from trading volume flowing directly to profits with minimal extra cost and have natural inflation hedging through transaction values. High Quality US Large Companies exposure filters out junk companies by avoiding high external financing, wealth destroyers, and value traps. This approach seeks superior long-term returns with lower downside risk. Precious metal royalty and streaming companies provide diversified exposure to precious metals by benefiting from both price appreciation and production growth without operational mining risks. They offer asymmetric optionality and inflation protection. | View | |
| 2025 Q4 | Feb 8, 2026 | Auxier Asset Management | 2.0% | 15.2% | BK, BRK-A, BTI, C, CAT, CVX, FI, GE, GLW, GOOGL, HD, LOW, MSFT, MU, NOW, PH, QCOM, RTX, UNH, VLO | AI, Banking, Buybacks, defense, energy, healthcare, technology, value | Technology hyperscalers spent close to $400 billion in 2025 on AI infrastructure with potential to reach $527 billion in 2026. However, an MIT study found 95% of generative AI pilots failing to deliver measurable returns, raising concerns about overinvestment similar to the dot-com era. Supply demand dynamics favored US stocks with $1.1 trillion in total stock buybacks versus only $46 billion in IPOs. Energy leaders like Chevron rewarded shareholders with aggressive stock buybacks alongside strong production and growing dividends. Over 100 countries dramatically increased defense spending in 2025, providing a boost for the aerospace and defense sector. Jet engine production and maintenance soared, benefiting firms like Parker Hannifin, GE, RTX and Berkshire's Precision Castparts. In the fourth quarter, investors shifted toward undervalued, high-quality companies with strong free cash flow yields. Healthcare led with an 11.25% catch-up return as its valuation metrics remain at a significant discount to the broader market. Larger banks enjoyed steepening yield curves and robust capital markets activity, with Bank of New York and Citigroup showing strong fundamentals at cheap valuations. JPMorgan predicts a breakout year for IPOs in 2026 with names like SpaceX, OpenAI and Anthropic potentially entering the market. | View | |
| 2023 Q4 | Feb 8, 2024 | The Olstein Strategic Opportunities Fund | - | - | AAPL, AMZN, CFG, CWK, FA, FITB, GHM, GNRC, GOOGL, HRL, INTC, KTB, LKQ, LUV, META, MSFT, NVDA, RTX, SHYF, TPG, TSLA, USB, VNT, VSH, WRK, ZBH | financials, free cash flow, industrials, Magnificent Seven, undervalued, value | Manager believes market leaders are about to change from high-growth Magnificent Seven stocks to undervalued companies selling at large discounts to intrinsic value. Focus on companies with strong fundamentals trading below normalized free cash flow calculations. | HRTX |
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| 2025 Q4 | Feb 23, 2026 | Barometer Capital Management | 0.0% | 0.0% | AEM.TO, BBD-B.TO, BVN, CAT, CLS.TO, CPX.TO, FTT.TO, GOOGL, HWM, K.TO, LRCX, MS, NA.TO, POW.TO, RTX, RY.TO, SAN, SE, TTWO, TVE.TO | AI, Canada, Copper, defense, energy, financials, Precious Metals, semiconductors | AI infrastructure remained a pillar of market leadership despite some consolidation in December. The market continued to distinguish between AI-enablers where demand remained strong and more cyclical parts of the chip complex, reinforcing the durability of the infrastructure buildout theme. Semiconductors exposed to AI maintained strength as semiconductor capital spending remained supported by AI-driven demand for advanced chips. Defense spending stayed elevated amid ongoing geopolitical uncertainty, supporting backlog strength and long-cycle earnings durability for aerospace and defense companies. RTX and Howmet extended gains as commercial aerospace demand remained strong and defense spending supported long-cycle revenue visibility through backlogs. Precious metals experienced renewed volatility during the quarter, with gold and silver weakening sharply into the end of October after an extended run higher. The pullback created opportunity as the manager re-engaged at lower levels when the market stabilized and the broader macro backdrop remained supportive for hard assets. Gold miners delivered strong returns throughout the year despite some weakness in final days of December. Copper prices surged into year-end amid rising demand tied to electrification, infrastructure, and data-center buildouts, alongside persistent supply constraints. This supported miners levered to the copper theme, with materials exposure contributing positively through companies like Hudbay Minerals and Rio Tinto benefiting from strength in copper and base metals. The portfolio benefited from exposure to global power demand themes, with Caterpillar continuing to benefit from robust demand in its energy & transportation business increasingly tied to expanding global power needs, particularly the build-out of AI data centers requiring reliable on-site generation capacity. Nuclear energy remained supported by structural tailwinds including rising global demand for reliable baseload power. Financials added to returns with banks demonstrating strong earnings power and shareholder return capacity. Morgan Stanley benefited from a supportive backdrop for capital markets activity and wealth management momentum, while Canadian banks continued to demonstrate resilient profitability and capital strength supporting shareholder return expectations. | TVE CN LRCX CAT |
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| 2024 Q4 | Feb 10, 2025 | Cedar Creek Partners | 0.4% | 5.2% | DIA, IQV, RTX, SPY | Banking, Buybacks, defense, dividends, Expert Market, Microcap, OTC, value | Solitron Devices received record bookings of $8 million in Q3, driven by HIMARS and AMRAAM programs. Production capacity for HIMARS doubled to 96 units in 2024 and is running at maximum capacity due to Ukraine demand. AMRAAM production increased 50% to 1,200 missiles annually with over 3,300 foreign orders in the past 12-15 months. | View | |
| 2024 Q4 | Dec 31, 2024 | Dodge & Cox Stock Fund | -1.5% | 14.5% | AMZN, AVTR, BUD, CHTR, CVS, FDX, FI, GILD, GOOGL, JCI, MET, RTX, SCHW, SNY, WFC | contrarian, financials, healthcare, industrials, large cap, value | The fund trades at only 14.1 times forward earnings compared to 20.9 times for the S&P 500 and 17.2 times for the Russell 1000 Value. The valuation disparity between value and growth stocks narrowed during the quarter, with value outperforming growth substantially. | View | |
| 2025 Q3 | Nov 23, 2025 | Lux Capital | - | - | 000660.KS, 005930.KS, ACN, AMZN, BA, CAP.PA, GOOGL, INTC, IT, LMT, META, MSFT, MU, NOC, NVDA, ORCL, RTX, TSLA | AI, Automation, Biotechnology, defense, geopolitics, Physical Sciences, semiconductors, Venture Capital | AI hyperscalers are spending over $400 billion in capex pursuing compute supremacy. The AI boom is profoundly physical requiring gigawatts of power, thousands of tons of copper wiring, and teraliters of cooling water. AI is transitioning from communication AI to physical AI including robotics, biology, defense, and manufacturing applications. | View | |
| 2025 Q3 | Nov 13, 2025 | Auxier Asset Management | 5.4% | - | BA, BAC, BK, C, CAT, DEO, GD, GLW, GOOGL, KR, LMT, MA, META, MSFT, PH, PM, PSX, RTX, TAP, VLO | AI, Banking, credit, defense, energy, infrastructure, Speculation, technology | Robust capital investment boom in Artificial Intelligence is boosting the US economy and market, with up to half of 3.8% GDP gain attributable to tech capital spending. Companies like Alphabet, Microsoft and Meta are putting up exceptional growth in cloud computing, AI and digital advertising. The massive infrastructure buildout to expand data center capacity has boosted demand for traditional machinery and power solutions. | 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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| 2025 Q3 | Oct 9, 2025 | ClearBridge Investments Dividend Strategy | - | - | AVGO, CMCSA, DEO, GOOGL, KO, LHX, META, MMC, NESN.SW, NOC, NSC, ODFL, ORCL, RTX, SRE, TEL, TMUS, TRV, UNH, UNP | AI, defense, dividends, large cap, Quality, risk management, technology, valuation | AI enthusiasm continued to propel the S&P 500 higher with sizable gains in IT and tech proxy sectors. The Strategy profited from AI exposure through holdings like TE Connectivity, Broadcom, and Oracle, though maintained disciplined risk management approach. | ODFL MARSH LHX TEL ORCL AVGO |
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| 2025 Q3 | Oct 7, 2025 | TYME Advisors | - | - | 3774.T, 3791.T, 4819.T, AAPL, BTC-USD, CBOE, FNV, GOOGL, KTOS, LB.AX, NDAQ, NVDA, PLTR, RTX, TPG, WPM | Armaments, Bitcoin, commodities, defense, gold, inflation, Long/Short, technology | Global armaments spending is accelerating across North America, Europe, and Asia-Pacific driven by renewed great power competition. The US defense budget is pushing toward the trillion-dollar mark with heavy emphasis on R&D and next-generation technology. European nations are dramatically increasing defense spending due to the Ukraine conflict and shifting US policy. | View | |
| 2025 Q3 | Oct 21, 2025 | Cedar Creek Partners | 9.9% | 26.5% | CZBS, ENDI, FIEB, MCBS, PCHM, PDRX, PHIG, PROM, ROYTL, RTX, SLBK, SODI | Community Banks, defense, Expert Market, Microcap, OTC, small caps, undervalued, value | The fund is particularly attracted to smaller community banks trading at 5-6 times forward earnings estimates. These banks are similar to Skyline Bankshares, featuring growing earnings and extremely low valuations. The manager sees significant value in this sector with banks trading at under six times earnings despite strong fundamentals. | PHIG ENDI SODI PHIG ENDI SODI |
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| 2025 Q3 | Oct 19, 2025 | Carillon Eagle Growth & Income Fund | - | - | ABBV, ABT, ACN, AVGO, CARR, DUK, ETN, GLW, GS, JPM, KO, LRCX, MCD, MDLZ, MSFT, ORCL, PG, PNC, RTX | AI, financials, growth, healthcare, income, large cap, semiconductors, technology | AI deployment continues to drive market performance with the Magnificent Seven up over 17%. The fund maintains exposure to AI infrastructure leaders like Corning, Oracle, and Broadcom, though managers reduced AI exposure to neutral levels after taking profits due to concentration concerns. | View | |
| 2025 Q3 | Oct 14, 2025 | Dodge & Cox Stock Fund | 3.1% | 10.9% | ADBE, ADM, AON, BK, CVS, ELAN, FDX, FI, FIS, GOOGL, GS, JCI, MET, OXY, RTX, SATS, SCHW, TE, WFC, WTW | Bottom-up, Diversified, financials, fundamentals, industrials, large cap, technology, value | The Fund trades at only 14.4 times forward earnings as of September 30, a significant discount to both the S&P 500 (23.3 times) and the Russell 1000 Value Index (18.2 times). The valuation spread between U.S. value and growth stocks continues to be relatively wide, with Russell 1000 Value trading at 18.2 times forward earnings versus 31.1 times for the Russell 1000 Growth Index. | View | |
| 2025 Q3 | Oct 1, 2025 | ClearBridge Investments Large Cap Growth Strategy | - | - | AAPL, ACN, AIR.PA, AVGO, CMG, COST, CRM, DDOG, FICO, GOOGL, INTU, ISRG, LLY, MA, MSFT, NFLX, NSC, NVO, ORCL, PH, PLTR, RTX, SBUX, TSM, UNH, UNP, VRTX, WDAY, ZTS | AI, Cloud, cyclicals, growth, healthcare, large cap, technology | The growth market has seen wide divergence between AI winners and AI losers since Liberation Day, with AI winners including cloud providers, chip makers and infrastructure software companies rallying strongly while capital flows out of perceived AI laggards in application software and services. The managers are adding new AI-indexed growth ideas in a disciplined way rather than chasing momentum. | VRTX US DDOG US ORCL US |
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| 2025 Q4 | Jan 31, 2026 | Touchstone Balanced Fund | 2.0% | 13.6% | AMAT, GOOGL, RTX | asset allocation, Balanced, Equity, fixed income, Quality, rates | The Federal Reserve delivered two additional 25 basis point rate cuts in the final meetings of the year, moving policy closer to neutral amid a weakening employment picture. Expectations for additional rate cuts in 2026, alongside benign long-term inflation expectations, contributed to a steepening yield curve over the quarter. The Fund emphasizes higher-quality businesses with strong returns on capital, pricing power, and meaningful barriers to entry. Fixed income positioning retains a high-quality bias and focuses on selective bottom-up opportunities. | View | |
| 2025 Q4 | Jan 27, 2026 | Buckley Capital | 2.6% | 21.4% | ALL, BFIT, DAVE, FTAI, GE, HLT, HWM, IHG.L, IWG.L, LNW, LQDA, MAR, PRTH, RR.L, RTX, SAF.PA, UTHR, VRNA, WLFC | aerospace, Europe, Fintech, gaming, Inflection, small caps, turnaround, value | Light & Wonder represents a high-quality duopoly business with Aristocrat in slot machine manufacturing and distribution globally. The company has engineered a remarkable turnaround over the last 5 years, transitioning from an overlevered business losing market share to an appropriately levered company now growing market share substantially. Basic-Fit is the dominant low-cost gym operator in Western Europe and represents the largest position. The company built a highly standardized, low-cost gym model delivering attractive price-to-value for members and high incremental returns on capital. 2026 is expected to be the inflection year as clubs opened since 2023 have reverted to pre-pandemic performance. Willis Lease Finance is a niche leader in commercial aircraft engine leasing, specializing in midlife engines. The aerospace backdrop is exceptionally strong with supply chain bottlenecks, engine reliability issues, and record order backlogs driving years of elevated demand. New engine production is effectively sold out for years. Dave is a high-growth, profitable neobank offering mobile digital banking services and small-dollar advances to customers often ignored by traditional banks. The company's Extracash product drives majority of revenues and represents a better option than payday loans or bank overdraft fees for consumers. Liquidia recently pre-announced very strong results and is expected to generate around $600-700m in sales this year and $1bn next year. The main issue continues to be lack of resolution around the patent infringement court case with competitor United Therapeutics, but the position is fully hedged. Priority Tech Holdings is exceptionally well-positioned within the financial services and payments industry, benefiting from high profitability, strong free cash flow returns, and a predictable business model. Over 90% of the company's business is either recurring or reoccurring, providing high predictability. | LQDA DAVE IWG LN LNW PRTH WLFC |
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| 2025 Q4 | Jan 19, 2026 | Carillon Eagle Growth & Income Fund | 0.0% | 0.0% | ADI, AVGO, AZN, DUK, ETN, GS, HD, JPM, KO, LRCX, MCD, MSFT, ORCL, PG, PNC, RTX, TMUS | AI, Capital markets, earnings, growth, large cap, semiconductors, technology | AI-related investment remains robust and has the potential to broaden its impact across industries. The AI super-cycle continues to provide powerful support, yet it carries risks. Investor willingness to underwrite aggressive AI spending has cooled somewhat, and the debate over whether we are in an AI bubble has increased. Lam Research benefitted from improving sentiment regarding the importance of its products within the semiconductor capital spending market. As a leading provider of equipment tied to memory requirements for AI, Lam Research could have a long and healthy path to growth. Analog Devices pushed toward new all-time highs after solid earnings gave investors confidence that the analog cycle is now beyond its bottom. Earnings growth was the clear engine of the market's advance in 2025. Forward S&P 500 earnings are projected to rise 16% in 2026 over 2025. Bloomberg projects S&P 500 EPS growth of 16% in 2026, up from 15% in 2025 with 7 of 11 sectors expected to deliver double-digit gains. Goldman Sachs Group's shares contributed to fourth-quarter performance due to positive financial results, coupled with increased optimism regarding capital markets activity heading into 2026. Goldman Sachs maintains one of the strongest global merger and acquisition advisory and trading, with increased activity in M&A, initial public offerings, and debt issuance activity directly boosting its financial performance. | View | |
| 2025 Q4 | Jan 18, 2026 | Dodge & Cox Stock Fund | 2.5% | 13.7% | AON, AVTR, BAC, BK, BN, CHTR, CMCSA, CVS, FDX, FI, GILD, GOOGL, GSK, JCI, MET, MSFT, OXY, REGN, RTX, SCHW, TSM, WFC, WTW | contrarian, financials, industrials, technology, valuation, value | The fund maintains its value-oriented investment approach despite a fully valued U.S. equity market. The portfolio trades at an attractive valuation of 14.6 times forward earnings, representing a significant discount to the S&P 500 at 22.9 times. The fund continues to find opportunities where long-term fundamentals are not fully reflected in current prices. The fund reduced its overall weighting in the Financials sector while shifting exposure across industries. They trimmed more cyclical bank holdings like Wells Fargo and Bank of America, while increasing exposure to insurance brokers and alternative asset managers. Despite headwinds, they added to Fiserv as its valuation compressed significantly. | FISV |
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| 2025 Q4 | Jan 14, 2026 | Longleaf Partners Fund | -0.3% | -0.4% | ACI, AMG, ANGI, AVTR, CNX, DINO, DIS, EXO.MI, FDX, H, IAC, KHC, MAT, MGM, PCH, PVH, PYPL, REGN, RTX, RYN | Buybacks, Cash, Defensive, Leverage, Quality, value | Fund focuses on undervalued companies trading below intrinsic value with P/V ratio in low-60s%. Manager emphasizes buying quality companies at discounts and waiting for market recognition of value. Multiple portfolio companies engaged in significant share repurchases including Mattel ($600M), Regeneron, MGM (40% over 5 years), and PVH. Manager views buybacks as value-creating at current discounted prices. Holdings include Mattel with strong IP portfolio (Hot Wheels, Barbie, UNO) and upcoming movie releases, plus IAC's digital assets. Focus on companies with valuable content and intellectual property. | ANGI PVH PYPL MGM IAC REGN MAT DINO KHC |
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| 2025 Q4 | Jan 14, 2026 | Jemekk Hedge Fund | 2.2% | 18.3% | CNQ.TO, EIF.TO, FFH.TO, GS, MEG.TO, RTX | aerospace, Canada, commodities, defense, energy, infrastructure, Precious Metals, Resources | The fund is positioned to benefit from elevated defense spending driven by rising defense budgets in the U.S. and allied countries. Growth is underpinned by demand for integrated air and missile defense systems, counter-drone technologies, and other advanced defense programs driven by geopolitical tensions. The entire Defense Prime complex is currently re-rating as countries around the world are committing to spend more on defense initiatives. Energy was a significant contributor to fund performance, with specific mentions of MEG takeover and CNQ performance. The fund sees Canada as having a strong preponderance of Oil (power) as part of its competitive advantages. Energy represents one of the key sectors driving Canadian outperformance versus the US markets. Precious metals provided solid contributions within the quarter through a basket of producers, primarily silver. Gold is viewed as the real store of value, and precious metals represent one of Canada's key competitive advantages. The fund entered Q4 2025 with precious metals as their largest sector allocation. The fund is positioned to capitalize on Build Canada themes, particularly through companies that can provide solutions for building out Canada's North including energy, critical minerals, and transmission/power infrastructure. This represents a pivot toward nation building and infrastructure development that should benefit portfolio companies. The fund expects continued Canadian outperformance driven by strong fundamentals in oil, gold, and financials, combined with a new government approach focused on growth and deregulation. Canada is signaling to the world that it is finally back and open for business, representing a significant pivot from the restrictive decade of the previous regime. | RTX |
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| 2024 Q3 | Sep 30, 2024 | ClearBridge Investments Dividend Strategy | 0.0% | 0.0% | AAPL, AMT, AVB, AVGO, EIX, ENB, GOOGL, INTC, META, MRK, MSFT, ORCL, RTX, TMUS, TRV, WM | AI, dividends, Outperformance, rates, REITs, technology, Utilities, valuation | AI stocks took a breather in Q3 after adding trillions in market cap over 18 months. While the fund holds AI-beneficiaries like Alphabet, Apple, Broadcom, Meta, Microsoft and Oracle, their disciplined valuation approach results in lower exposure than the S&P 500. With significant AI value already embedded in stock prices, potential for material rerating appears reduced. | View | |
| 2024 Q3 | Sep 30, 2024 | ClearBridge Investments Large Cap Growth Strategy | 0.0% | 0.0% | AAPL, ACN, AMZN, APTV, CMG, EL, EQIX, GOOGL, META, MMC, MSFT, NEE, NVDA, PYPL, RTX, SBUX, SHW, TEAM, TSLA, UNH | AI, diversification, growth, healthcare, large cap, technology, valuation | The Strategy manages exposure to AI-driven growth stocks including NVIDIA, which has been trimmed due to valuation concerns despite belief in its 10-year trajectory as hyperscaler and enterprise customers invest in GPU architecture. The managers acknowledge AI momentum has driven market leadership but are selective about valuations. | APTV TEAM EL SBUX |
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| 2024 Q3 | Sep 30, 2024 | Dodge & Cox Stock Fund | 7.2% | 16.3% | APD, BAX, BK, CHTR, CVS, FDX, FI, GE, GOOGL, JCI, MET, META, MSFT, NVDA, OXY, RTX, SBAC, SCHW, SNY, WFC | energy, financials, healthcare, industrials, technology, value | The Fund trades at an attractive valuation of 14.4 times forward earnings, compared to 22.5 times for the S&P 500. The valuation disparity between value and growth stocks diminished but still remains wide, with Russell 1000 Value trading at 17.9 times forward earnings versus 29.0 times for Russell 1000 Growth. Value stocks outperformed growth stocks in the quarter for the first time since 2022. | View | |
| 2023 Q3 | Sep 30, 2023 | Matrix Dividend Income | 0.0% | 0.0% | AAPL, AEP, AMGN, AMZN, BKNG, CMCSA, FDX, FI, GOOGL, JPM, LHX, META, MSFT, NEE, PFE, RTX, TXN, UL, UNH, ZBH | dividends, financials, large cap, rates, Utilities, value | The Dividend Income portfolio focuses on companies that pay regular dividends, with 17 companies announcing dividend increases in 2023 averaging 6.8%. The portfolio maintains a 3.35% dividend yield compared to 1.61% for the S&P 500, demonstrating the strategy's focus on generating strong and growing current income. | NEE HRTX |
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| 2023 Q3 | Sep 30, 2023 | Matrix Large Cap Value Strategy | 0.0% | 0.0% | AAPL, AEP, AMGN, AMZN, BKNG, CMCSA, FDX, FI, GOOGL, JPM, LHX, META, MSFT, NEE, PFE, RTX, TXN, UL, UNH, ZBH | dividends, Fed policy, inflation, large cap, rates, value | Interest rates rose sharply in Q3 with 10-year Treasury reaching 4.57%, highest since 2007. The Fed raised rates by 0.25% and signaled higher for longer policy. Matrix believes the Fed is nearing the end of its hiking cycle and expects rate cuts in 2024 as economic slowdown becomes evident. | NEE HRTX |
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| 2024 Q2 | Jul 31, 2024 | Auxier Asset Management | 7.4% | 0.0% | AAPL, BAC, BK, GLW, GOOGL, KO, KR, LINC, MA, META, MNST, MRK, MSFT, NVDA, PEP, PM, RTX, TAP, UNH, V | AI, infrastructure, risk management, small caps, Speculation, technology, value | AI investment boom continues driving massive capital spending on tech infrastructure, with cloud service providers potentially investing $300 billion into AI hardware this year. The AI industry would need to generate $600 billion in annual revenue to justify current infrastructure spending. Companies like Alphabet and Microsoft are accelerating capital spending significantly. | View | |
| 2024 Q2 | Jul 23, 2024 | Longleaf Partners Fund | 10.4% | 10.3% | AMG, BIO, CHTR, CNHI, CNX, FDX, FIS, IAC, K, MAT, MGM, OD, PVH, RTX | Buybacks, Concentration, free cash flow, Logistics, Margins, value | The fund emphasizes trading at low-60s% price-to-value ratio with significant margin of safety. Portfolio companies trade at approximately 10 times free cash flow on margins that can improve, while S&P 500 trades at over 20 times potentially peak free cash flow. | MAT CNHI BIO FDX |
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| 2023 Q4 | Jan 17, 2024 | Longleaf Partners Fund | 10.4% | 10.3% | AMG, BIO, CNHI, CNX, FBHS, FDX, FFH, FIS, GE, H, IAC, K, LBRDK, LUMN, LYV, MAT, MGM, PVH, RTX, WBD | Buybacks, financials, Logistics, Quality, Travel, value | Fund focuses on Business, People, Price discipline, seeking hidden quality companies trading at discounts. Portfolio differs meaningfully from value indices, with ~50% not found in benchmark indices. Manager believes their differentiated approach positions them well versus Quality at Higher Price strategies and Value ETFs. | ^HSI MGM FFH FDX PVH NWBD.L |
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| 2024 Q4 | Jan 16, 2025 | Longleaf Partners Fund | -1.3% | 8.8% | ACI, AMG, BIO, CNX, DINO, EXO, FBIN, FDX, FFH, FIS, IAC, K, LBRDK, LYV, MAT, MGM, PYPL, RTX, WBD, WMG | Buybacks, energy, Media, Natural Gas, payments, technology, value | Fund operates with high-60s% price-to-value ratio and 10x price/earnings power multiple, dramatically different than the market. Manager emphasizes appraisal-driven research and fundamental analysis to identify undervalued opportunities. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 24, 2026 | Seeking Alpha | Seeking Alpha | RTX Corporation | Aerospace & Defense | Defense | Bull | New York Stock Exchange | aerospace and defense, backlog growth, capacity expansion, Defense spending, geopolitical tensions, global instability, long-term investment, profitability, RTX Corporation, Tomahawk missiles | View Pitch |
| Apr 22, 2026 | Substack | Alpha Seeker 84 | RTX Corporation | Aerospace & Defense | Defense | Bull | New York Stock Exchange | capital allocation, Commercial Aerospace, Defense, Framework Agreements, Free Cash Flow, Guidance Raise, Munitions, Raytheon, RTX Corporation, supply chain | View Pitch |
| Apr 13, 2026 | Fund Letters | Longleaf Partners Fund | RTX Corporation | Industrials | Aerospace & Defense | Bull | NYSE | Aerospace, Contrarian Investment, Defense, Engine Issues, industry tailwinds, Operational Turnaround, share repurchases, Value Realization | View Pitch |
| Jan 16, 2026 | Fund Letters | Gerard Ferguson | RTX Corporation | Industrials | Aerospace & Defense | Bull | New York Stock Exchange | Aerospace, aftermarket, backlog, Defense, Rearmament, visibility | View Pitch |
| Nov 6, 2025 | Seeking Alpha | Seeking Alpha | RTX Corporation | Aerospace & Defense | Bull | Aerospace & Defense, Collins Aerospace, Free Cash Flow, growth potential, Market Confidence, operating margins, Pratt & Whitney, Recovery Cycle, RTX Corporation, valuation | 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 |
|---|---|---|---|---|---|---|---|---|
| David Hoeft | Dodge & Cox | $185.3B | $6.9B | 3.72% | 37,571,811 | -2,527,555 | -6.30% | 2.5091% |
| David Tepper | Appaloosa LP | $6.9B | $91.7M | 1.32% | 500,000 | -9,500 | -1.86% | 0.0334% |
| Mark A. Hillman | Hillman Value Fund | $158.9M | $412,100 | 0.26% | 2,247 | -142 | -5.94% | 0.0002% |
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $10.4M | 0.02% | 56,900 | -127,900 | -69.21% | 0.0038% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $106.1M | 0.12% | 578,631 | +506,637 | +703.72% | 0.0386% |
| Lee Ainslie | Maverick Capital | $9.3B | $251.0M | 2.69% | 1,368,842 | +9,257 | +0.68% | 0.0914% |
| David Burrows | Barometer Capital Management | $415.3M | $828,939 | 0.20% | 14,100 | -28,378 | -66.81% | 0.0003% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $1.6M | 0.00% | 8,600 | -1,200 | -12.24% | 0.0006% |
| Israel Englander | Millennium Management LLC | $233.2B | $109.7M | 0.05% | 598,300 | -644,447 | -54.76% | 0.0400% |
| Jeremy Grantham | GMO LLC | $39.1B | $1.5M | 0.00% | 7,981 | -313 | -3.77% | 0.0005% |
| Terrence Murphy | Clearbridge Investments | $124.9B | $1.2B | 0.93% | 6,345,691 | -805,360 | -11.26% | 0.4238% |
| Murray Stahl | Horizon Kinetics | $7.4B | $2.3M | 0.03% | 12,731 | -664 | -4.96% | 0.0009% |
| Cliff Asness | AQR Capital Management | $190.6B | $228.0M | 0.12% | 1,243,738 | +223,898 | +21.95% | 0.0830% |
| Bruce Kovner | Caxton Associates | $3.2B | $1.3M | 0.04% | 11,338 | +3,209 | +39.48% | 0.0005% |
| Mario Gabelli | GAMCO Investors | $10.4B | $3.0M | 0.03% | 16,385 | -282 | -1.69% | 0.0011% |
| Panayotis Sparaggis | Alkeon Capital Management | $63.1B | $229.3M | 0.36% | 1,250,000 | +1,250,000 | +100.00% | 0.0835% |
| Richard L. Chilton Jr. | Chilton Investment | $4.8B | $6.6M | 0.14% | 35,978 | +1,418 | +4.10% | 0.0024% |
| Cory Martin | Barrow, Hanley, Mewhinney & Strauss | $30.0B | $2.1M | 0.01% | 11,376 | +0 | +0.00% | 0.0008% |
| $25.6B | $11.3M | 0.04% | 61,500 | +61,500 | +100.00% | 0.0041% | ||
| Rich Handler | Jefferies | $19.3B | $14.6M | 0.08% | 79,399 | +59,886 | +306.90% | 0.0053% |
| Richard Kayne & John Anderson | Kayne Anderson Rudnick Investment Management | $37.3B | $335,110 | 0.00% | 1,827 | -2,156 | -54.13% | 0.0001% |