S

S

S

Market Cap: $6.20B

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q1	Apr 15, 2024	Baron Discovery Fund	13.5%	9.3%	AEIS, ALGM, AXNX, AXON, CDNA, CYBR, DKNG, ENDV, ESTA, FND, GTLB, INTA, KNSL, MASI, MRCY, NARI, NVTS, RH, S, SITE	cybersecurity, growth, healthcare, semiconductors, small cap, technology, Valuations	Fund focuses on small-cap growth stocks which remain in a three-plus year bear market while large-cap stocks reach all-time highs. Small-cap growth stocks have attractive valuations both on an absolute basis and relative to large-cap stocks, and typically show significant appreciation coming out of deep market downturns.	INTA MASI CYBR DKNG KNSL	View
2024 Q4	Dec 31, 2024	Baron Discovery Fund	6.1%	16.0%	AXON, CDNA, CWAN, CYBR, DAY, DKNG, EXAS, FND, GTLS, GWRE, IRT, KTOS, LLYVA, MAC, MEG, PAR, RDDT, S, TTAN, VRNS	contrarian, growth, REITs, small caps, software, technology, value	Axon highlighted the 2025 launch of an AI bundle oriented around its innovative Draft One product which automates the process of report writing for public safety officers. This represents a significant expansion opportunity as Axon continues to find new areas of growth and pulls ahead of competition.	BC.MI IRT TTAN MAC PAR CHT	View
2024 Q4	Dec 31, 2024	Brandes Core Plus Fixed Income Fund	-2.6%	2.3%	BAC, C, F, GS, NFLX, RRC, S, SCHW, SPR, USB	credit, duration, Fed policy, fixed income, Treasury	Fed delivered a hawkish 25 basis point cut in December, reducing projected 2025 rate cuts from 100 to 50 basis points. The neutral fed funds rate may ultimately be higher than forecasted, with fundamental data suggesting rates may need to remain elevated given strong economic conditions and persistent services inflation.		View
2025 Q4	Jan 26, 2026	Baron Discovery Fund	0.2%	11.0%	ALKT, CWAN, CWST, DKNG, DT, ESTA, EXAS, FROG, GCI, GTLB, INDIE, LLYVA, LOAR, MRCY, PRMB, RGEN, S, SITM, TREX, VRNS, WAY	AI, defense, growth, healthcare, Quality, small caps, software	The fund discusses AI as a transformative force requiring careful alignment of goals with humanity's interests. They view AI advancement as creating massive capital investment opportunities, particularly in datacenter buildout, while acknowledging concerns about AI's impact on software competitive advantages. The fund maintains significant exposure to enterprise software companies, particularly cybersecurity and systems software. They believe complexity of enterprise integration protects established players from AI disruption, with companies like Dynatrace, Varonis, and SentinelOne offering defensive moats through proven resilience and security. The fund focuses on innovative healthcare companies including molecular diagnostics (Exact Sciences), medical devices (Establishment Labs), and healthcare IT (Waystar). They see opportunities in companies improving patient outcomes through technology and automation in healthcare processes. The fund holds defense companies benefiting from increased defense budgets, including allocations for unmanned vehicles and missile defense systems. They trimmed positions after meaningful valuation increases but maintain defense as a core holding area.	CWST GLIBA PRMB LLYVA VRNS INDI FROG CAS WAY CWAN ESTA EXAS	View
2023 Q3	Sep 30, 2023	Baron Discovery Fund	13.5%	9.3%	AEIS, AXNX, AXON, BYD, CWAN, EWCZ, GTLB, GTLS, GWRE, INDI, KNSL, LLYVA, MEG, NVTS, PAR, REPG, REXR, RVNC, S, SILK, SITE, TXG	growth, healthcare, semiconductors, small caps, software, technology, value	The fund initiated a position in SentinelOne, a cybersecurity vendor focused on endpoint protection using AI to detect threats. The company serves over 11,000 organizations and is gaining market share from legacy antivirus vendors who struggle with evolving threats.		View
2023 Q2	Sep 14, 2023	Spear Advisors	-3.5%	0.0%	AMD, AMZN, CFLT, CRWD, GOOG, GOOGL, HUBS, META, MRVL, MSFT, NET, NVDA, S, SHOP, SNOW, SPRX, ZS	AI, Cloud, cybersecurity, Data centers, growth, semiconductors, technology	AI is a core theme driving strong performance through hardware and software infrastructure opportunities. The fund focuses on uncovering opportunities across the AI value chain including hardware and related software infrastructure rather than just applications. Strong demand for AI hardware continued in Q2 with cloud service providers allocating significant capex to AI.	CFLT ^FTSE	View
2024 Q1	Jun 30, 2024	Spear Advisors	-3.5%	0.0%	AMD, CRWD, FCX, MRVL, NVDA, S, SNOW, TECK, ZS	AI, cybersecurity, Data centers, materials, semiconductors, software, technology	The fund believes we are in the early innings of the next technology cycle amplified by AI. AI spending last year was mostly focused on processors/GPUs with Nvidia being the primary beneficiary, but this year the impact is broadening both inside and outside the rack.	SNOW CRWD FCX NVDA	View
2023 Q1	Apr 17, 2023	Meditation Capital	-	-	CRWD, GTLB, MSFT, OKTA, S	conviction, Product Quality, risk management, software, technology, valuation	Manager discusses competitive dynamics in identity management and cybersecurity, specifically analyzing Okta versus Microsoft's bundling advantages. The letter details avoiding investments in Crowdstrike, SentinelOne, and GitLab due to concerns about Microsoft's closing product gap in these areas.		View
2023 Q4	Mar 28, 2024	Spear Advisors	-3.5%	0.0%	AMD, CFLT, CRWD, DDOG, MRVL, NET, NVDA, S, SNOW, ZS	AI, Cloud, cybersecurity, Data centers, ETF, growth, semiconductors, technology	AI is a core theme and biggest driver behind strong 2023 performance. Strong demand for AI hardware continued throughout the year, with fundamental upside broadening to the rest of the value chain in 4Q23. Several companies now expecting revenue run-rates in the billions directly from AI, including Microsoft and AMD. Workloads are shifting from model training to inference, with inference representing 40% of Nvidia Data Center revenues.		View
2023 Q4	Jan 30, 2024	Baron Discovery Fund	13.5%	9.3%	AAON, ACVA, AEIS, AXON, BASE, CYBR, DKNG, ESTA, EWCZ, FND, GTLB, GTLS, ICHR, KNSL, KTOS, MRAI, MRCY, REXR, S, VRNS	cybersecurity, defense, growth, HVAC, small caps, technology, value	Multiple cybersecurity holdings performed strongly in Q4, with SentinelOne, GitLab, Varonis, and CyberArk all contributing positively. The managers see accelerating demand driven by AI adoption requiring data security, SEC disclosure requirements, and vendor consolidation favoring comprehensive platforms over point solutions.	AAON VRNS GTLB ^FTSE	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 24, 2026	Seeking Alpha	Seeking Alpha	SentinelOne, Inc.	Cybersecurity	Endpoint Protection	Bull	New York Stock Exchange	AI-powered, competitive pressures, cybersecurity, endpoint protection, margin expansion, net cash, Revenue Growth, SentinelOne, software sector, valuation	View Pitch
Sep 9, 2025	Substack	Shareholders Unite	SentinelOne, Inc.	Technology	Software - Infrastructure	Bull		AI-driven cybersecurity, ARR growth, autonomous response, customer wins, Free Cash Flow, Prompt Security acquisition, Purple AI, scalable business model, share buy-backs, valuation multiples	View Pitch
Aug 13, 2025	Seeking Alpha	Merc Research	SentinelOne	Information Technology	Software - Infrastructure	Bull	NYSE	—	View Pitch
Aug 7, 2025	Seeking Alpha	PropNotes	SentinelOne	Information Technology	Software - Infrastructure	Bull	NYSE	—	View Pitch

BSD Shareholders of S

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
David Einhorn	Greenlight Capital Inc	$9.9B	$16.1M	0.16%	724,228	+724,228	+100.00%	0.2595%
Paul Tudor Jones	Tudor Investment Corp	$53.4B	$1.4M	0.00%	95,900	-60,900	-38.84%	0.0315%
Steven A. Cohen	Point72 Asset Management	$86.8B	$48.7M	0.06%	3,248,828	+1,017,018	+45.57%	1.0686%
Chris Rokos	Rokos Capital Management	$9.9B	$16.1M	0.16%	724,228	-275,862	-27.58%	0.2595%
Ray Dalio	Bridgewater Associates	$27.4B	$23.4M	0.09%	1,562,111	+253,284	+19.35%	0.5138%
Dmitry Balyasny	Balyasny Asset Management	$76.6B	$196,500	0.00%	13,100	+23,700	+50.75%	0.0043%
Israel Englander	Millennium Management LLC	$233.2B	$229,500	0.00%	15,300	-23,700	-60.77%	0.0050%
Terrence Murphy	Clearbridge Investments	$124.9B	$38.7M	0.03%	2,581,027	+855	+0.03%	0.8490%
David Siegel & John Overdeck	Two Sigma Investments	$67.5B	$1.0M	0.00%	67,954	-1,087,727	-94.12%	0.0224%
Cliff Asness	AQR Capital Management	$190.6B	$123.2M	0.06%	8,212,127	+3,965,519	+93.38%	2.7011%

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