SBUX

SBUX

SBUX

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q3	Sep 30, 2024	ClearBridge Investments Large Cap Value	-	-	APD, AVGO, EIX, INTC, MCK, ORLY, PH, SBUX, SHW, UPS	-			View
2025 Q2	Jul 29, 2025	RiverPark Large Growth	15.0%	6.6%	AAPL, LLY, META, MSFT, NFLX, NVDA, PEP, SBUX, UBER, UNH	Compounding, free cash flow, growth, secular trends, valuation	The commentary highlights selective large-cap growth investing focused on companies with long runways for revenue and free cash flow expansion. Management stresses discipline on valuation despite enthusiasm around secular growth trends. The outlook favors compounding businesses rather than momentum-driven winners.	PEP SBUX LLY	View
2025 Q2	Jul 16, 2025	Polen Capital – Global SMID Company Growth	7.9%	1.9%	AON, GLOB, IDXX, NVDA, ORCL, SBUX, SHOP	Balance Sheets, Global Growth, Pricing Power, Quality, Resilience	The letter highlights global quality growth as a defensive yet compounding strategy amid geopolitical uncertainty and uneven economic growth. Management stresses balance sheet strength, pricing power, and recurring revenue as key drivers of resilience. The portfolio is positioned to benefit from long-term global demand trends rather than regional macro calls.	GLOB IDXX SBUX ORCL	View
2025 Q2	Jul 15, 2025	Polen Capital – Focus Growth	9.2%	2.3%	AAPL, ADBE, AMZN, IDXX, NOW, ORCL, SBUX, UNH	Concentration, growth, Margins, Quality, Reinvestment	The commentary centers on owning a concentrated portfolio of high-quality growth businesses with durable competitive advantages and long reinvestment runways. Management believes market volatility creates opportunities to add to exceptional companies whose fundamentals remain intact despite valuation compression. The outlook favors consistent organic growth and margin expansion over cyclical or macro-driven outcomes.	UNH AAPL IDXX ORCL	View
2024 Q1	May 13, 2024	The London Company Large Cap	8.1%	14.6%	AAPL, APD, BRK/B, MLM, NSRGY, PGR, SBUX	-			View
2024 Q1	May 13, 2024	The London Company Income Equity	10.4%	14.6%	AAPL, APD, FAST, FIS, MSFT, PGR, SBUX	-			View
2024 Q1	Apr 25, 2024	Vulcan Value Partners – Large Cap	8.2%	17.6%	GE, KKR, KMX, LYV, NICE IT, SBUX, TDG	-			View
2025 Q1	Apr 14, 2025	Polen Capital – Focus Growth	-6.3%	-6.3%	AON, NVDA, NVO, ORCL, SBUX, TSLA	-			View
2025 Q1	Mar 31, 2025	Harbor Capital Appreciation Fund	-10.1%	-10.1%	CEG, FLUT, GE, NFLX, SBUX, TSM, VRTX	-			View
Q4 2025	Feb 22, 2026	City Different Investments – Multi-Cap Core	2.8%	18.1%	AMG, APG, CHTR, FLYW, GILD, GOOGL, KMX, LOPE, META, MSFT, NFLX, SBUX, SCHW, TGT, TMO	Behavioral, Diversified, long-term, multi-cap, value	Mature (Value) businesses led performance in the fourth quarter and were the strongest contributors for the full year, reflecting durable execution in companies that continued to generate healthy free cash flow and return capital.	FLYW	View
2023 Q3	Nov 10, 2023	ClearBridge Investments All Cap Growth	0.0%	0.0%	GOOG, SBUX, TGT, UNP	-			View
2024 Q3	Oct 2, 2024	The London Company Income Equity	10.4%	14.6%	LOW, MRK, MSFT, PGR, SBUX, SCHW, TEL	-			View
2025 Q3	Oct 16, 2025	Polen Capital – Global SMID Company Growth	7.9%	1.9%	IDXX, NVDA, ORCL, SBUX	Artificial Intelligence, consumer, healthcare, quality growth, semiconductors	Polen highlights AI leadership and cyclicals as key market drivers, with semiconductors up nearly 60% for the quarter. While the fund lagged due to limited exposure to semis, it added positions in Oracle, IDEXX, and Starbucks to balance growth exposure. The team maintains a disciplined focus on durable earnings compounding through high-quality, globally diversified franchises.	GLOB IDXX SBUX ORCL	View
2025 Q4	Jan 9, 2026	The Bristlemoon Global Fund	-6.2%	0.0%	ADBE, APP, ASML, EYE, FICO, FND, GOOGL, HD, LOW, NKE, PRTG, SBUX, SNPS, UBER	AI, growth, Housing, Restaurants, semiconductors, software, technology, value	The fund has benefited from AI winners like AppLovin, which applies machine learning to improve ad algorithms with 72% revenue growth and 89% EBITDA growth. The manager views AI as creating opportunities through the Jevons paradox, where lower content creation costs increase demand for editing tools like Adobe. PAR Technology is positioned as an AI beneficiary through its unified platform strategy enabling Coach AI functionality. ASML is highlighted as a monopoly in the semiconductor industry during an AI boom. The manager outlined bear case arguments and explained why they were misguided, with the stock appreciating from €600 to over €900 per share in a quarter as other investors agreed with their thesis. The fund holds multiple software positions including PAR Technology, Adobe, and others. PAR is viewed as benefiting from restaurant technology consolidation, with potential McDonald's partnership validation. Adobe is seen as an AI beneficiary rather than victim, trading at 15x earnings despite double-digit revenue growth. PAR Technology represents a play on restaurant technology consolidation, with potential tier-1 client wins including McDonald's. The manager believes even large tech-forward restaurants are realizing POS software is too complex to maintain internally, favoring best-of-breed vendors like PAR with unified platform strategies. Floor & Decor represents a category killer business model in hard surface flooring with 75,000 square foot warehouse stores carrying 2,350+ SKUs versus 630-680 at competitors. The company has grown comparable store sales at 11% annually over 14 years, with strong unit economics and store rollout potential to 500 locations. The manager extensively analyzes mortgage rate dynamics affecting Floor & Decor's housing-dependent business. They expect mortgage spread normalization from current 300+ basis points back toward historical 168 basis point average, potentially reducing rates to 5.5-6.0% range and unlocking housing transaction velocity.	FND 215A JP BCG LN ADBE PAR ASML NA	View
2025 Q4	Jan 7, 2026	ClearBridge Investments Large Cap Growth Strategy	1.2%	0.0%	ACN, ADBE, ANET, AVGO, CMG, DDOG, EQIX, ETN, GOOGL, ISRG, LLY, MRVL, NVDA, ORCL, PLTR, SBUX, TMO, UNH, VRTX, WDAY	AI, growth, healthcare, large cap, momentum, semiconductors, technology, underperformance	AI spending exceeded expectations with hyperscalers accelerating capex, emergence of OpenAI and Anthropic as major spending sources, and Alphabet selling custom AI chips to competitors. The managers acknowledge underestimating AI spending magnitude and are repositioning with purchases of Broadcom, Marvell Technology, Datadog and Oracle while exiting lower-conviction AI plays. Cloud infrastructure remains central to AI deployment with data center operators like Equinix positioned as later-stage beneficiaries. Oracle's cloud business represents significant upside potential despite current market skepticism, with the company having a large backlog of signed contracts and generating free cash flow. Semiconductor exposure through Nvidia has been a top holding since 2018, with additional positioning in Broadcom for custom silicon chips and Marvell Technology. The managers regret not scaling positions more aggressively in semiconductor beneficiaries during the AI-driven rally. Healthcare positioning was repositioned with purchases of high-quality biotechnology company Vertex Pharmaceuticals, which was a leading contributor in Q4. The managers exited Eli Lilly too early before GLP-1 reimbursement deals and oral treatment readouts drove shares higher.		View
2025 Q4	Jan 30, 2026	Immersion Investment Partners	0.0%	0.0%	BELFB, BROS, CAVA, CELH, CMG, DPZ, MAMA, PAR, RDVT, SBUX, TGT, WING	AI, Food, growth, Restaurants, small caps, tech, Valuations	The letter argues that the unwind of AI-driven mega-cap excess has created significant valuation dislocations in high-quality small-cap companies unfairly punished by broad tech multiple compression. Immersion emphasizes differentiated valuation work, variant perception, and patience in concentrated positions where fundamentals, unit economics, and long-term growth remain intact despite weak sentiment. The strategy focuses on exploiting mispricing created by narrative-driven selling, favoring businesses with durable economics, strong management, and asymmetric upside as earnings reassert themselves.	BROS MAMA PAR	View
2025 Q4	Jan 15, 2026	Columbia Dividend Opportunity Fund	2.8%	15.9%	ABBV, ALB, BAC, BLK, BRX, C, CSCO, DRI, GOOGL, GPC, GPS, GS, HD, IBM, IP, JNJ, JPM, LUV, MCD, MO, MRK, MU, PM, QRVO, SBUX, SWKS, T, UDR, XOM	AI, Banking, dividends, financials, Lithium, technology, value, Yield	The fund focuses on companies with historically consistent and increasing dividends, though dividend stocks generally underperformed during the quarter as investors favored speculative companies over defensive characteristics. The manager maintains a positive view on dividend-paying stocks as an out-of-favor segment largely devoid of speculative activity. The market remained supported by ongoing enthusiasm about the artificial intelligence theme, though there was a brief stretch of concern in November about a possible AI bubble. The manager sees potential for improved relative performance if excitement surrounding AI begins to cool. The quarter was characterized by broadening market leadership away from mega-cap technology companies, contributing to relative strength in the value style. The fund's investment universe offers fundamentally sound companies trading with attractive yields and reasonable valuations. A new position in mandatory convertible securities of lithium producer Albermarle made a sizable contribution as lithium prices rose due to reduced supply from China, and market participants became more optimistic about the metal's potential use in energy storage applications.		View
2024 Q3	Sep 30, 2024	ClearBridge Investments Large Cap Growth Strategy	0.0%	0.0%	ACN, APTV, CMG, EL, NVDA, SBUX, TEAM	-			View
2023 Q3	Sep 30, 2023	RiverPark Large Growth	3.7%	16.4%	AAPL, ADYEN, BKNG, BX, EQIX, FIVN, GOOG, ILMN, INTU, LLY, LMT, MCD, NFLX, PEP, SBUX, UBER	-			View
2023 Q3	Sep 30, 2023	RiverPark Long/Short Opportunity Fund	0.6%	11.1%	AAPL, ADYEN, BKNG, BX, EQIX, GOOG, ILMN, LLY, LMT, MCD, PEP, SBUX	-			View
2024 Q2	Jul 26, 2024	Diamond Hill Large Cap Strategy	7.9%	14.7%	AMZN, GOOG, IP, KMX, RRX, SBUX, TGT, TXN	-			View
2023 Q2	Jul 19, 2023	The London Company Large Cap	8.1%	14.6%	ALB, KMX, MLM, ORLY, PGR, RSG, SBUX, TXN, VZ	-			View
2024 Q2	Jun 30, 2024	Mar Vista Strategic Growth Fund	5.5%	0.0%	AAPL, AVGO, CMR, DIS, GOOG, META, NKE, SBUX	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Feb 17, 2026	Seeking Alpha	Seeking Alpha	Starbucks Corporation	Consumer Discretionary	Restaurants	Bear	Nasdaq Stock Market	asset-light strategy, brand value, Brian Niccol, debt management, Franchising, international expansion, licensing model, operational efficiency, P/E ratio, Starbucks	View Pitch
Jan 29, 2026	Seeking Alpha	Seeking Alpha	Starbucks Corporation	Consumer Cyclical	Restaurants	Neutral	NASDAQ Stock Market	Brian Niccol, China market, comparable-store sales, Customer Engagement, Joint venture, North America, operating margins, premium valuation, Starbucks, Turnaround strategy	View Pitch
Jan 9, 2026	Fund Letters	Peter Bourbeau	Starbucks Corporation	Consumer Discretionary	Restaurants	Bear	NASDAQ	consumer, Execution, Restaurants, turnaround, Unit_economics	View Pitch
Jan 8, 2026	Fund Letters	Conrad van Tienhoven	Starbucks Corporation	Consumer Discretionary	Restaurants	Bull	NASDAQ	Brand, Coffee, consumer, Loyalty, Margins, Restaurants, turnaround	View Pitch
Jan 8, 2026	Fund Letters	Damon Ficklin	Starbucks Corporation	Consumer Discretionary	Restaurants	Bull	NASDAQ	Brand, consumer, operating leverage, Restaurants, turnaround	View Pitch
Nov 29, 2025	Fund Letters	Damon Ficklin	Starbucks Corp.	Consumer Discretionary	Restaurants	Bull	NASDAQ	Digital, international expansion, Margins, Throughput, turnaround	View Pitch
Oct 23, 2025	Value Investors Club	tharp05	Starbucks Corp.	Consumer Discretionary	Restaurants	Bull	NASDAQ	Inflection, margin expansion, premium multiple, Service recovery, turnaround	View Pitch
Aug 7, 2025	Seeking Alpha	Aseity Research	Starbucks Corporation	Consumer Discretionary	Restaurants	Bear	NASDAQ	—	View Pitch

BSD Shareholders of SBUX

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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