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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Sep 5, 2024 | Rowan Street Capital | 12.8% | 42.3% | META, SHOP, SPOT, TOI CN | - | View | ||
| 2025 Q3 | Sep 30, 2025 | TCW Concentrated Large Cap Growth Fund | 4.1% | 12.6% | ADBE, ANET, ETN, GOOG, NOW, SHOP, SPOT | AI, Capex, Platforms, productivity, technology | The fund commentary highlights artificial intelligence as a dominant secular driver of capex, productivity, and earnings growth across large-cap equities. Hyperscaler investment, software platform adoption, and data center buildouts are reshaping competitive dynamics and margin structures. AI is viewed as early in its growth curve despite near-term volatility and valuation risks. | View | |
| 2025 Q3 | Sep 30, 2025 | Baron Fifth Avenue Growth Fund | 5.8% | 14.3% | AMZN, CRWD, GOOG, ISRG, KKR, MELI, META, MSFT, NVDA, SHOP, TSLA, TSM, TTD | earnings, growth, innovation, Market share, scalability | The manager highlights long-duration growth investing in competitively advantaged businesses with large addressable markets and strong reinvestment opportunities. Short-term volatility and style rotations are viewed as secondary to sustained revenue growth, innovation, and market share gains. Growth remains anchored in owning exceptional companies through cycles as intrinsic value compounds over time. | META CRWD KKR MELI ISRG TTD TSM GOOGL TSLA SHOP NVDA |
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| 2025 Q2 | Jul 22, 2025 | Harbor Capital Appreciation Fund | 19.5% | 7.4% | AAPL, AVGO, BSX, CEG, HUBS, MA, NFLX, NVDA, SHOP | AI Adoption, Balance Sheets, earnings momentum, innovation, Large Cap Growth | The commentary highlights resilient U.S. large-cap growth driven by AI adoption, strong earnings momentum, and corporate innovation despite tariff-related volatility. Management stresses bottom-up stock selection in companies with durable growth, pricing power, and strong balance sheets. Growth leadership is expected to broaden beyond a narrow group of mega-cap winners. | BSX SHOP HUBS |
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| 2025 Q2 | Jul 21, 2025 | Sands Capital Select Growth Fund | 27.7% | 14.8% | AJG, AVGO, CVNA, NFLX, NVDA, RARE, RBLX, SHOP, TEAM, UBER, V | AI, growth, innovation, Platforms | 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 |
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| Q4 2025 | Mar 9, 2026 | RiverPark Large Growth | 1.3% | 13.0% | AAPL, AMAT, AMZN, DIS, GOOGL, ISRG, LLY, META, MSFT, NFLX, NVDA, SHOP, UBER | AI, Cloud, growth, healthcare, large cap, semiconductors, Streaming, technology | Portfolio maintains significant exposure to AI infrastructure and monetization opportunities across cloud computing, semiconductors, and enterprise applications. Companies like Microsoft, Alphabet, and Applied Materials are benefiting from accelerating AI adoption and infrastructure buildout. The fund views AI as a multi-year secular growth driver with expanding monetization across the technology stack. Cloud computing remains a core portfolio theme with strong positioning in hyperscale providers and infrastructure companies. Microsoft Azure showed 39% growth while Google Cloud exceeded 30% growth, both supported by AI workload adoption. The fund sees continued multi-year demand for cloud infrastructure and services as enterprises accelerate digital transformation. The portfolio maintains exposure to e-commerce platforms and enablement technologies through holdings like Amazon and Shopify. The fund views e-commerce as benefiting from secular shifts in consumer behavior and continued digital commerce adoption across retail categories. Eli Lilly represents the fund's exposure to the GLP-1 obesity and diabetes treatment market, which continues to show exceptional growth. Mounjaro and Zepbound sales more than doubled year-over-year, with demand continuing to outpace supply. The fund sees this as a multi-decade growth opportunity with expanding indications and sustained competitive advantages. The fund maintains exposure to semiconductor equipment and chip companies benefiting from AI infrastructure buildout. Applied Materials saw strength in AI-related capacity orders, particularly for advanced logic and high-bandwidth memory. The portfolio views semiconductors as benefiting from structural increases in semiconductor intensity and AI infrastructure demand. Netflix represents the fund's exposure to global streaming entertainment, despite near-term headwinds from subscriber growth concerns and content spending. The fund continues to view Netflix as the dominant global streaming platform with durable competitive advantages through its content library, technology infrastructure, and growing advertising business. | View | |
| Q4 2025 | Mar 9, 2026 | RiverPark Long/Short Opportunity Fund | 0.1% | 8.5% | AAPL, AMZN, COMP, DIS, DUOL, FIS, GOOGL, ISRG, KMX, LLY, META, MSFT, NFLX, NVDA, SHOP, UBER | AI, growth, healthcare, Long/Short, Quality, technology | AI monetization is a key driver across multiple holdings, with Alphabet benefiting from AI training and inference services in Google Cloud, and the fund maintaining significant exposure to AI/Cloud Computing at 16.9% of the long portfolio. The manager views AI as creating substantial growth opportunities for companies with scale and data advantages. Netflix remains the dominant global streaming platform despite near-term headwinds from subscriber growth concerns and rising content spending. The manager believes Netflix's unmatched content library, scalable technology infrastructure, and growing advertising business provide multiple monetization pillars for long-term growth. E-commerce represents 7.5% of the long portfolio themes, with the fund maintaining exposure to companies benefiting from secular shifts toward on-demand commerce and digital platforms. This includes positions in companies like Uber that benefit from local commerce expansion. Eli Lilly represents a high-quality growth franchise in global healthcare, with leadership in diabetes, obesity, and neuroscience providing durable competitive advantages. The company's GLP-1 treatments continue to see demand outpace supply with additional indications on the horizon. Semiconductors represent 5.0% of the long portfolio themes, with the fund maintaining exposure to companies positioned to benefit from AI infrastructure demand and next-generation computing requirements. This includes holdings in companies with differentiated semiconductor architectures. | View | |
| 2025 Q1 | Mar 31, 2025 | PGIM Jennison Global Opportunities Fund | -11.1% | -11.1% | 1810 HK, IOT, ISRG, SE, SHOP, UCB BB, VRTX | - | View | ||
| 2025 Q1 | Mar 31, 2025 | Baron Global Advantage Fund | -9.5% | -9.5% | 0609969D IN, BAF IN, DDOG, MELI, NET, NVDA, SHOP, TSM | - | View | ||
| 2025 Q1 | Mar 31, 2025 | Touchstone Sands Capital International Growth Equity Fund | 1.1% | 1.1% | 6098 JP, EVD GR, FLUT, HDFCB IN, MELI, SE, SHOP, SPOT, TSM | - | View | ||
| 2025 Q1 | Mar 31, 2025 | Edgewood Management | -7.8% | -7.8% | SHOP, SPOT | Balance Sheet Strength, free cash flow, Large Cap Equities, Market Share Gains, secular growth | The letter emphasizes durable large-cap growth franchises with strong free cash flow generation and secular revenue drivers, arguing that quality compounders can navigate macro volatility and tariff uncertainty while continuing to take market share. Management highlights disciplined valuation, balance sheet strength and consistent reinvestment as core pillars, particularly in technology and consumer platforms benefiting from structural digitalization. In a market characterized by concentration and policy noise, the strategy remains focused on long-term earnings power rather than short-term macro forecasting. | SPOT SHOP |
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| Q4 2025 | Mar 2, 2026 | Baron Global Opportunity Fund | 6.5% | 27.5% | ADYEN, AMZN, ARGX, ASML, BILL, CPNG, CRWD, DDOG, GDS, ILMN, MELI, NET, NU, NVDA, SHOP, SNOW, SQ, TSM, WIX, ZS | AI, Cloud, E-Commerce, global, growth, innovation, semiconductors, technology | AI represents the dominant investment theme with companies adapting to disruptive change. The pace of innovation is unprecedented with LLMs becoming more intelligent, costs declining 10x per year, and agentic AI task duration doubling every 6-7 months. Portfolio companies are categorized as AI infrastructure builders, providers, early adopters, and beneficiaries of productivity gains. E-commerce platforms benefit from AI adoption in recommendation engines, advertising algorithms, and customer support optimization. Companies like Amazon, MercadoLibre, Coupang, and Shopify are leveraging AI to improve conversion rates and reduce service costs while expanding into new markets and verticals. Semiconductor companies, particularly TSMC and NVIDIA, are benefiting from AI demand with TSMC raising revenue guidance to mid-30s% growth. NVIDIA continues evolving from graphics cards to leading AI infrastructure company, while TSMC maintains 90% market share in leading-edge manufacturing with ability to raise prices. Cybersecurity companies are using AI in core algorithms to better identify anomalies and block malicious traffic. CrowdStrike is seeing reacceleration in growth with new Falcon Flex offering, while Netskope continues gaining SASE market share with strong competitive win rates. Biotechnology investments focus on companies with differentiated technologies and expanding addressable markets. Argenx continues strong performance with Vyvgart sales exceeding expectations, while BillionToOne disrupts prenatal and oncology diagnostics with innovative QCT technology achieving superior accuracy. Cloud infrastructure companies are positioned to benefit from AI buildout with AWS aggressively investing in capacity and offering full-stack AI solutions. The data gravity of existing customers provides competitive advantages while companies expand AI inference and development platforms. | View | |
| 2025 Q4 | Feb 8, 2026 | SGA – International Growth | 1.0% | 9.6% | 1299.HK, 6098.T, 9983.T, ADYEN.AS, ALC, AON, ARM, BABA, CP, DSY.PA, EXPN.L, FEMSAUBD.MX, GALD, GRAB, HDFCBANK.NS, HEIA.AS, HLN.L, INFY, LIN, MELI, OR.PA, SAP, SE, SGE.L, SHOP, SRT3.DE, STE, TEAM, TSM, UL, UMG.AS, WALMEX.MX, WCN, YUMC | AI, Cyclical, E-Commerce, growth, international, Quality, Southeast Asia, valuation | SGA continues to believe the most attractive long-term AI opportunities reside with businesses building long-term value through proprietary data and integrated workflows. The portfolio is positioned to capture AI value through companies providing essential intellectual property and manufacturing capability for the AI ecosystem, including TSMC, Arm Holdings, SAP, and Dassault Systemes. The portfolio focuses on high-conviction quality growth businesses anticipated to achieve consistent mid-teens earnings growth with reduced variability. Despite market headwinds favoring cyclical assets, SGA maintains conviction in quality companies with predictable revenue and cash flow generation that should become more sought after if market volatility increases. New positions were established in Sea Limited and Grab Holdings, both Southeast Asian consumer internet companies with integrated ecosystems. Sea operates Shopee e-commerce platform with integrated payments and logistics, while Grab provides super-app services for ride-hailing, food delivery, and digital payments across Southeast Asia. | TEAM ARM DSY FP SRT GR 9983 JP |
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| Q4 2025 | Feb 18, 2026 | Baron FinTech Fund | -2.2% | 0.9% | APO, COF, CWAN, FI, FICO, GWRE, HLI, HOOD, IBKR, INTU, JKHY, KKR, LPLA, MA, MELI, MS, NU, SCHW, SHOP, SPGI, V | AI, Banking, Capital markets, crypto, financials, Fintech, growth, technology | Capital markets are wide open with elevated levels of debt issuance, equity offerings, and M&A volumes. Falling interest rates, rising equity prices, and improving corporate confidence are driving an optimistic outlook for deals, which should benefit advisory firms, rating agencies, and alternative asset managers. The fund continues its growth approach to investing in financial and financial-related companies, including payment businesses, financial exchanges, and data providers that enable financial transactions. The common denominator across all holdings is the use of technology and data to better serve customers and grow at above-average rates. The broader software industry came under pressure due to fears of AI disintermediation. However, vertical market software vendors serving highly regulated industries are most insulated from AI risk given their deep workflow integrations and high switching costs. Morgan Stanley expects continued margin expansion from operating leverage and efficiencies from the broader usage of AI. Bitcoin fell 23.5% in the quarter, significantly underperforming nearly every major asset class. Robinhood experienced softening in customer engagement, especially in cryptocurrency trading alongside a pullback in crypto prices. The Senate is drafting legislation to create a regulatory framework for cryptocurrency that could potentially boost digital asset adoption. Falling interest rates and federal support for housing should drive a continued rebound in mortgage origination volumes, which should benefit mortgage originators and credit bureaus. FICO launched its new Direct Licensing Program for mortgage lending, which provides greater flexibility to monetize its intellectual property. | NEPT MS GWRE MELI HOOD FICO JKHY SPGI |
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| 2025 Q4 | Feb 11, 2026 | Baron Fifth Avenue Growth Fund | 3.3% | 18.2% | ADYEN, AMZN, ASML, AVGO, CPNG, CRWD, GOOGL, ILMN, IOT, KKR, MELI, META, MPWR, NOW, NVDA, SHOP, SNOW, TEAM, TSLA, TSM | AI, Cloud, E-Commerce, growth, large cap, semiconductors, technology | The fund is positioned for the AI transformation, viewing it as one of the biggest disruptive changes in human history. Portfolio companies are benefiting from AI infrastructure buildout, with NVIDIA at the epicenter, and companies adapting AI into core business operations for productivity gains. Strong positioning in semiconductor companies benefiting from AI demand, including NVIDIA, Broadcom, TSMC, and new addition Monolithic Power Systems. Focus on companies enabling AI infrastructure through custom accelerators, power management, and manufacturing capabilities. Investment in leading e-commerce platforms including Amazon, Shopify, MercadoLibre, and Coupang. These companies are using AI to improve recommendation engines, advertising algorithms, and customer support while expanding into new markets and services. Exposure to cloud infrastructure providers benefiting from AI demand, including Amazon Web Services, Google Cloud Platform, and Cloudflare. These companies offer full-stack AI solutions with both first-party and third-party hardware and models. | MELI CPNG META SHOP NVDA MPWR AVGO GOOGL |
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| 2025 Q4 | Dec 31, 2025 | Edgewood Management | 1.5% | 7.0% | ASML, AVGO, AXON, BSX, BX, FICO, INTU, ISRG, LLY, MSCI, NFLX, NOW, NVDA, SHOP, SNPS, SPGI, SPOT, TDG, V, VRTX | AI, growth, healthcare, large cap, Quality, semiconductors, software, technology | AI infrastructure buildout driving strong demand for semiconductors and data center components. AI Era Plan from Axon represents fastest booked product to date, with Draft One AI tool generating police reports in minutes and saving 50%+ officer time. AI expanding beyond data centers into factories and robotics, driving higher sensor content per system. Portfolio positioned for AI-driven semiconductor demand with holdings in NVIDIA, Broadcom, and ASML. AI servers require greater connector and interconnect content versus traditional servers. Semiconductor equipment companies benefiting from next-generation architecture requirements. Strong earnings growth in healthcare holdings with Eli Lilly delivering 75% EPS growth. Boston Scientific showing consistent performance with 25% EPS growth. Healthcare devices and pharmaceuticals demonstrating resilient fundamentals. Enterprise software companies showing strong fundamentals with ServiceNow, Intuit, and Synopsys delivering consistent growth. Software platforms benefiting from digital transformation and AI integration trends. | APH AXON |
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| 2024 Q4 | Dec 31, 2024 | Artisan International Fund | - | 10.6% | 4091 JP, ABI BB, AER, AMZN, KO, MRO LN, NVO, SHOP | - | View | ||
| 2024 Q4 | Dec 31, 2024 | Baron Global Advantage Fund | 11.8% | 26.1% | ASML, CPNG, INDI, MELI, NET, SHOP, TSLA, TTAN | - | View | ||
| 2024 Q4 | Dec 31, 2024 | RiverPark Large Growth | 5.0% | 22.3% | ADBE, AMZN, GOOG, LLY, NFLX, NKE, NVDA, SHOP, UBER, UNH | - | View | ||
| 2024 Q4 | Dec 31, 2024 | RiverPark Long/Short Opportunity Fund | 4.3% | 15.9% | AMZN, IGV, LLY, NVDA, SHOP, UBER | - | View | ||
| 2024 Q4 | Dec 31, 2024 | Touchstone Sands Capital International Growth Equity Fund | -4.1% | 8.4% | APP, EVD GR, G, GRAB, SHOP, SIKA SW, SSFN, STOP, TSM | - | View | ||
| 2024 Q4 | Dec 31, 2024 | Brown Capital Management International All Company Fund | -6.6% | -0.6% | 0268 HK, 1IG GR, 3064 JP, AFX GR, CAMT, DSG CN, GIVN SW, NVO, RAA GR, SHOP, TEAM, WISE LN | - | View | ||
| 2022 Q4 | Dec 31, 2022 | Polen Capital – International Growth | 9.2% | -30.0% | AON, BNZL LN, CAN, GLOB, SAP, SHOP, TCEHY, TEMN SW, ULVR LN | - | View | ||
| 2023 Q3 | Dec 11, 2023 | Alger Mid Cap Focus Fund | 4.6% | 18.7% | CELH, DXCM, NOVT, SHOP, SPLK, VRT | - | View | ||
| 2023 Q4 | Dec 1, 2024 | Polen Capital – International Growth | 3.3% | 3.9% | 6920 JP, AON, ASML, HDB, MDT, SGE LN, SHOP, TE8A GR, TEP FP, TSM, UL, ULVR LN | - | View | ||
| 2025 Q3 | Nov 5, 2025 | PGIM Jennison Global Opportunities Fund | 5.3% | 9.8% | 1810 HK, APP, GOOG, HOOD, LLY, MELI, NOW, NVDA, ORCL, SHOP, TSM | Artificial Intelligence, Cloud Computing, Digital Platforms, semiconductors, technology | The fund focuses on global growth leaders benefiting from secular AI adoption and innovation-led earnings expansion. Top contributors included NVIDIA, AppLovin, and TSMC, while weakness came from Netflix and MercadoLibre. Jennison remains overweight technology and communication services, expecting durable growth from cloud, semiconductors, and digital platforms. | View | |
| 2025 Q3 | Nov 13, 2025 | RiverPark Large Growth | 4.7% | 11.6% | AAPL, DIS, GOOG, INTU, ISRG, NFLX, NOW, NVDA, SHOP, TSM | AI, Cloud, DataCenters, semiconductors, software | AI and cloud computing remained dominant growth drivers across mega-cap technology, fueling strong results for Alphabet, NVIDIA, TSMC, and others. The letter emphasizes accelerating AI monetization across advertising, hardware, and software ecosystems, sustaining high-margin growth. AI infrastructure demand continues to underpin semiconductor strength and platform engagement. | View | |
| 2025 Q3 | Nov 13, 2025 | Baron FinTech Fund | -4.4% | 3.0% | COF, FDS, FICO, HOOD, IBKR, LPLA, MORN, SHOP, TW, VRSK | AI, analytics, Data, Fintech, software | AI optimism fueled equity strength, shaping valuations, sector rotations, and risk appetite across fintech and software. Managers highlighted both perceived AI threats to incumbents and the long-run efficiency and product expansion opportunities AI enables. AI remains a dominant catalyst influencing earnings expectations, sentiment, and capital deployment. | COF FICO SHOP CN IBKR HOOD |
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| 2025 Q3 | Oct 9, 2025 | Brown Capital Management International All Company Fund | -4.5% | 6.7% | 3064 JP, CYBR, DSY FP, MNDY, SHOP | Artificial Intelligence, Growth Stocks, innovation, long-term, software | Brown Capital underperformed benchmarks as software names lagged during a value-led quarter but reiterated conviction in Exceptional Growth Companies. Holdings like Dassault Systèmes, Shopify, and CyberArk demonstrate long-term scalability and integration of AI into mission-critical workflows. The firm continues investing in innovation and AI infrastructure to enhance its research edge. | View | |
| 2025 Q3 | Oct 28, 2025 | Baron Focused Growth Fund | 4.8% | 8.6% | CHH, FDS, FIGS, IBKR, MTN, ONON, SHOP, SPOT, TSLA, VRSK | Artificial Intelligence, consumer discretionary, growth, innovation, technology | The fund outperformed over the long term despite a modest quarterly lag, with AI and technology remaining central growth drivers. Key contributors included Tesla, Shopify, and SpaceX, benefiting from automation, agentic commerce, and AI-driven compute demand. Management expects continued acceleration in earnings as AI adoption expands and consumer-facing brands leverage innovation to enhance pricing power and profitability. | View | |
| 2024 Q3 | Oct 28, 2024 | Parnassus Mid Cap Growth Fund | 8.6% | 13.3% | ADSK, ARNB, BILL, BIRK, GWRE, H, IBKR, IQV, JBHT, LPLA, MRNA, MTN, NET, NTR, ONON, RRR, SHOP, SPOT, TSLA | - | View | ||
| 2025 Q3 | Oct 24, 2025 | Rowan Street Capital | 0.2% | 20.4% | ADYEY, DNOPY, META, NFLX, SHOP, SPOT, TOI CN, TSLA, TTD | AI, Compounding, Founders, Quality, Tesla | Rowan outperformed with a 20.4% YTD gain, emphasizing founder-led compounders like Meta, Shopify, and Adyen. The fund reallocated from Spotify to Tesla, citing Teslas multi-layered moats in manufacturing, AI, data, and robotics. Managers view Tesla as a generational opportunity built on vertical integration and structural compounding power across autonomy and energy. | SPOT TSLA SPOT TSLA |
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| 2024 Q3 | Oct 23, 2024 | Polen Capital – Focus Growth | 3.0% | 11.0% | ABNB, APPL, CRM, GOOG, MSCI, NKE, NOW, NVDA, ORCL, PAYC, SHOP, TSLA | - | View | ||
| 2024 Q3 | Oct 23, 2024 | Polen Capital – Global SMID Company Growth | 3.5% | 9.5% | AMZN, AON, GOOG, MSCI, NVO, ORCL, SAP GR, SHOP | - | View | ||
| 2025 Q3 | Oct 20, 2025 | Baillie Gifford – US Equity Growth | 5.4% | 19.1% | DUOL, FIG, KNF, NFLX, RBLX, SHOP, TTD, W | Artificial Intelligence, Design Platforms, E-Commerce, innovation, software | The fund highlights resilience in U.S. growth equities led by AI-driven platform companies such as Shopify, Roblox, and NVIDIA. Managers added Figma, positioning it as a leader in AI-enabled design software transforming enterprise workflows. Despite short-term volatility, the fund maintains high conviction in U.S. innovators with durable competitive advantages in technology and consumer ecosystems. | KNF Figma KNF |
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| 2025 Q3 | Oct 20, 2025 | Baillie Gifford – International Alpha | 6.7% | 19.5% | 0XXT LN, BHP AU, COIN, EDEN FP, ENSG, ENTG, GMAB DC, MEDP, MSCI, NVO, SHOP, UNH | Artificial Intelligence, Digital Platforms, Global Growth, Healthcare Innovation, semiconductors | The fund highlights AI enthusiasm driving markets to record highs, with holdings like AppLovin, Shopify, and TSMC benefiting from data infrastructure and digital platform growth. Healthcare positions such as Medpace and Novo Nordisk are viewed as cyclical recovery opportunities tied to innovation in clinical trials and obesity drugs. Managers remain focused on global quality growth across sectors despite U.S. market dominance. | View | |
| 2025 Q3 | Oct 20, 2025 | Sands Capital Global Growth Fund | -2.0% | 12.2% | AXON, CVNA, DXCM, GALD SW, GOOG, III LN, IMCD NA, ISRG, NFLX, NVDA, RGEN, SHOP, SIKA SW, TEAM, TSM | Artificial Intelligence, E-Commerce, Global Growth, healthcare, semiconductors | The fund emphasizes durable global growth from AI infrastructure, digital platforms, and healthcare innovation. NVIDIA, Alphabet, and TSMC lead performance as AI capital investment accelerates worldwide. Managers added new positions in Galderma and 3i Group to balance cyclical risk while maintaining exposure to long-term technology and consumer adoption trends. | TEAM DEXCOM INTU NFLX AXON GALD SHOP GOOGL NVDA |
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| 2025 Q3 | Oct 20, 2025 | Touchstone Sands Capital International Growth Equity Fund | -3.1% | 15.7% | 6098 JP, ADYEN NA, ARGX, CSU CN, EVD GR, GALD SW, HEX NO, III LN, MELI, NU, PDRB, SE, SHOP, SIKASW, TSM | Artificial Intelligence, E-Commerce, financials, Global Growth, healthcare | International holdings in Asia and Europe saw mixed results, but structural themes in e-commerce and financial innovation continued to drive growth. The funds core exposures include Shopify, MercadoLibre, and Taiwan Semiconductor as AI-related demand spreads globally. Healthcare names like Argenx and Galderma support steady earnings through innovation and margin expansion. | View | |
| 2025 Q3 | Oct 17, 2025 | Harbor Capital Appreciation Fund | 5.0% | 12.7% | AAPL, AMD, APPL, AVGO, DIS, MSFT, NFLX, ORCL, SHOP, TOST, TSM, TTD, VRTX | Artificial Intelligence, Cloud Computing, Growth Stocks, semiconductors, Technology leadership | Harbors manager cites AI-driven innovation as the dominant force behind market gains, though warns of valuation risk in mega-cap tech. The fund added exposure to cloud and AI enablers such as AMD and Oracle, reflecting confidence in structural growth. Despite short-term volatility, it remains committed to high-quality growth companies with durable moats and earnings resilience. | ORCL US TOST US AMD US |
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| 2025 Q3 | Oct 16, 2025 | Polen Capital – International Growth | -4.5% | 2.1% | ASM NA, ASML, DSY FP, ICLR, MNDY, SAP, SGE LN, SHOP, TCEHY | Artificial Intelligence, emerging markets, healthcare, semiconductors, software | The fund underperformed due to volatility in software and IT sectors but reinforced its conviction in AI-driven semiconductor and automation growth. Polen initiated positions in Disco Corp and ASM International to capture the AI semiconductor supply chain, while maintaining exposure to Tencent for emerging-market digital expansion. Managers expect AI and healthcare innovation to drive future international growth returns. | ASM NA 6902 JP SAP GR MNDY US SAGE LN ICON IE ASML NA SHOP CN |
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| 2025 Q3 | Oct 14, 2025 | Ithaka US Growth Strategy | 1.0% | - | CMG, HOOD, ISRG, NOW, NVDA, SHOP | Artificial Intelligence, infrastructure, monetary policy, technology, valuation | The letter frames the U.S. market rally around an unprecedented AI-driven capital expenditure boom comparable to the Internet buildout, with AI infrastructure spending expected to reach up to $600B in 2025. While supportive of growth and equity valuations, it also raises concerns about potential overvaluation and circular funding structures. The Feds rate cuts and fiscal stimulus have further fueled liquidity, reinforcing equity momentum but leaving markets vulnerable to policy shifts. | View | |
| 2025 Q4 | Jan 30, 2026 | PGIM Jennison Global Opportunities Fund | -4.1% | 5.3% | AAPL, AMD, AMZN, APP, CRWD, GEV, GOOGL, ITX.MC, MSFT, NET, NFLX, NTDOY, NVDA, ORCL, RMS.PA, SE, SHOP, TSM | AI, consumer, Data centers, global, growth, semiconductors, technology | The team is a big believer in the massive paradigm shift to GenAI and expects leadership in accelerated computing, agentic applications, search, robotics and autonomous driving to move dynamically. Jennison plans to execute with fluidity in this rapidly evolving set of opportunities that cross into multiple sectors. The most interesting part of the Fund, with the strongest secular growth profile, seems to be the most controversial in the market and centers on the massive paradigm shift to GenAI. The massive data center buildout is leading to a surge in demand for alternative and traditional energy generation. This trend led Jennison to add GE Vernova to the Fund's Industrials sector for their natural gas turbine, wind, and electrification businesses. Taiwan Semiconductor rose on record profitability as AI demand continues to exceed expectations. Jennison initiated a position in Advanced Micro Devices as the team believes the use of GPUs for agentic AI applications will continue to expand and customers of NVIDIA are looking for second sources. | GEV |
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| 2025 Q4 | Jan 30, 2026 | Baron Focused Growth Fund | 12.3% | 22.3% | ABNB, ACGL, BIRK, CHH, CSGP, DEI, DUOL, FDS, FIGS, GWRE, H, IBKR, IDXX, IOT, JEF, LVS, LYV, MSCI, MTN, ONON, RRR, SHOP, SPOT, TOL, TSLA, VRSK | AI, consumer, Electric Vehicles, growth, healthcare, real estate, Space, technology | The fund discusses concerns about AI introduction into the economy and its impact on subscription-based software companies. AI competition has hurt valuations of platform investments like Spotify, CoStar, and Guidewire, though it hasn't impacted their financial performance. The fund holds X.AI Holdings Corp., formed through merger of X and xAI, which has developed competitive AI model Grok. The consumer remains quite resilient despite concerns about higher inflation, interest rates, and tighter labor market. Consumer-oriented investments including FIGS, Hyatt Hotels, and On Holding showed strength in the quarter. The fund sees continued resilience in consumer demand for health care apparel and premium products. SpaceX is generating significant value with rapid expansion of Starlink broadband service, deploying vast satellite constellation with substantial user growth. The company has established itself as leading launch provider with reusable technology and is making tremendous progress on Starship rocket. SpaceX represents the fund's largest position at 19.2% of net assets. Tesla remains a core holding representing 8.1% of net assets as an electric vehicle leader. The fund views Tesla as a disruptive growth company with large underpenetrated addressable markets, well financed with significant equity stakes by founder-led management giving further conviction in the investment. | DUOL CSGP SPOT ONON H FIGS GWRE |
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| Q4 2025 | Jan 27, 2026 | Antero Peak Group | -0.5% | 19.9% | AAPL, ADI, AXON, CAT, COF, GE, GS, HWM, ISRG, JPM, LLY, NDAQ, NVDA, ROK, RYCEY, SHOP, SMNEY, TSM, WELL, WFC | aerospace, AI, Capital markets, Data centers, energy, productivity, ROIC, semiconductors | AI impacts on productivity should create abundant inflection points across nearly all S&P sectors in profitability and ROIC. When amortizing AI capex over the system that will use it, the returns appear massive and under-reported. S&P margins look structurally too low in most forecasts as labor efficiency gains may likely create an upward drift in margin ceilings. Aerospace is cyclically inflecting ahead of a long duration upcycle supported by secular growth of the global middle class. The Aerospace Normalization theme was the largest positive contributor in 2025, with General Electric, Rolls-Royce and Howmet all making meaningful contributions driven by fundamental strength. Power demand creates new secular growth opportunities, with Caterpillar positioned for multi-year upcycle as power demand creates new secular growth at a cyclical trough. Data center reaches deep into Caterpillar's portfolio with co-located power capability. Analog Devices represents the premium analog compounder as the cycle turns, with best economics in analog including 70%+ gross margins and 45-50% EBIT target. The team believes 2Q25 marked the restart with pricing and margin inflection underway. Data monetization theme involves machine learning, AI, and cloud causing the economic value of data to structurally accelerate through new products and applications. Companies include financial services firms like Capital One, JPMorgan Chase, Goldman Sachs, Wells Fargo, and Nasdaq. De-globalization theme involves redirection of capital on post pandemic priorities for security of energy and reliability of supply chains. Companies include Constellation Energy, GE Vernova, Siemens Energy, and Vistra Corp. | ADI CAT |
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| 2025 Q4 | Jan 27, 2026 | Polen Capital – International Growth | -2.5% | -0.5% | 0700.HK, 7974.T, 8035.T, ASML, BABA, LONN.SW, MELI, MNDY, SAP, SHL.DE, SHOP, TEP.PA | AI, E-Commerce, gaming, growth, international, Quality, semiconductors, underperformance | AI adoption is transforming the global economy and creating investment opportunities. Advanced chips sit at the epicenter of everything AI related, with ASML's equipment essential to printing advanced logic and volatile memory chips. Markets are attempting to price in these technological shifts, though the transition remains volatile. Semiconductor capital equipment companies continue to benefit from investor optimism around AI. Tokyo Electron benefits from rising demand for more chip volume and more complex chips, driving investment into chip fabrication plants. The company is expected to grow revenues at high single-digit rate while increasing operating margins from 25% to 35% in the medium term. E-commerce platforms face mixed dynamics with growth opportunities offset by competitive pressures. MercadoLibre continues to benefit from low e-commerce penetration in Latin America and maintains 35%+ topline growth in its 26th year. However, Alibaba's profitability in core e-commerce has been pressured by heavy investments to compete in food and grocery delivery. Nintendo's Switch 2 launch marks the beginning of a significant upgrade cycle with potential for elevated growth in both hardware and software over the coming five years. The overall Switch installed base could reach 250 million customers, nearly doubling the customer base capable of downloading gaming titles. The company is expected to grow earnings at 30% annualized for the next few years. The investment approach focuses on businesses with durable competitive advantages, strong returns on capital, and resilient earnings. Quality companies are expected to ultimately outperform the broader market despite current market preference for cyclically sensitive businesses. This quality-focused strategy is especially important when investors embrace risk and cyclicality. | View | |
| 2025 Q4 | Jan 21, 2026 | Polen Capital – Global SMID Company Growth | -2.7% | 1.8% | 0700.HK, ADBE, AMZN, BSX, CSGP, GOOGL, ICLR, LLY, MELI, NVDA, OR.PA, ORCL, PAYC, SGE.L, SHL.DE, SHOP, SPOT, TSM, WDAY, WTW | AI, global, growth, Quality, software, technology | The market experienced AI bubble concerns in Q4 that prompted a short-lived 5% sell-off, though NVIDIA's strong earnings report in late November alleviated the worst fears. Despite waning market enthusiasm in the AI trade, the managers believe the datacenter capex cycle should continue with revenues and earnings for critical players growing rapidly as they struggle to keep up with increasing demand. The portfolio's emphasis on quality growth investing was challenged by the market's preference for high-beta growth stocks, contributing to underperformance. The managers remain focused on competitive advantages and long-term business fundamentals while constantly re-assessing growth trajectories of portfolio companies competing in evolving global markets. Spotify was added as a new position, with the managers viewing it as a scaled two-sided network enjoying secular growth as streaming and smartphone proliferation become global norms. They believe music is the most under-monetized form of digital entertainment, with Spotify serving over 600 million active users and potential for greater than 20% annual free cash flow growth. Tencent Holdings was initiated as a new position, representing one of China's largest technology companies with leading positions in gaming, social media and payments. Despite economic headwinds, Tencent has remained a consistent growth business, compounding earnings growth at more than 30% annualized over the past 3 years. | SPOT 0700 HK ORCL LLY |
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| 2025 Q4 | Jan 21, 2026 | Platinum International Technology Fund | 0.0% | 13.0% | AMD, AMZN, ANET, ASML, AVGO, CPNG, ENR.DE, GEV, ISRG, LRCX, MA, MSFT, NVDA, RHM.DE, SAP, SHOP, TSM, UBER, VEEV, VRT | AI, Capex, Data centers, defense, energy, growth, semiconductors, technology | AI disruption is reshaping consumer internet companies and hyperscalers as OpenAI's growth shifts attention from traditional platforms. The industry remains in an arms race to secure capacity for training larger models, funded by big tech balance sheets. AI agents threaten existing paradigms in consumer tech and could cannibalize advertising revenues while potentially making platforms commoditized. Around a third of the Fund is invested in companies benefiting from AI datacenter buildout including Nvidia and Vertiv. The manager expects big tech capex growth of ~35% year-on-year is too conservative, with TSMC AI wafers revenue growing ~60% YoY and advanced packaging capacity growing ~70% YoY. Lower interest rates and AI's role in US-China competition could prolong this cycle. Semiconductor names like TSMC and Lam Research were key contributors this quarter, reflecting expectations that new capacity will be needed in 2026 to support AI compute growth. TSMC is viewed as a key bottleneck in the AI value chain as the only company who can make leading edge AI chips at scale. The fund initiated positions in Siemens Energy and GE Vernova, both sitting in an oligopoly supplying combined-cycle gas turbines to utilities and data centers. With US power shortages and rising electricity prices, both companies are expected to add capacity, driving volumes and margins above consensus. Five percent of the Fund is invested in defense companies such as Rheinmetall and Exosense. The manager sees the beginning of a decade-long capex cycle driven by multi-polar geopolitics, the emerging need to integrate disparate hardware systems, and the growth of AI applications in unmanned system platforms. | 2330 TT VEEV TSM UBER J |
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| 2025 Q4 | Jan 19, 2026 | Artisan Mid Cap Fund | -0.4% | 14.8% | ALAB, APG, ARGX, ASND, BKR, COHR, CVNA, DASH, INSM, LHX, MACOM, MDB, RBC, RBLX, SHOP, SPOT, TTAN, VEEV, WAT, WST | AI, Biotechnology, defense, growth, healthcare, industrials, mid cap, technology | AI-related capital spending remains an area of active debate entering 2026. The team continues to find compelling opportunities among companies positioned to benefit from AI investment strength and gain share of customers' AI spending based on superior technology that improves datacenter performance and efficiency. Healthcare returned as a source of market strength with the team maintaining relatively high exposure despite several years of industry headwinds. The positioning is grounded in conviction in profit cycle opportunities for biotech companies with compelling product launches. Aerospace and defense holdings appear well positioned for multiyear growth. The team believes companies are well positioned to benefit from growing investment in next-generation missile defense and national security programs requiring advanced capabilities. Holdings exposed to datacenter and AI infrastructure spending contributed to returns. Companies benefit from continued cloud growth and rising AI demand driving rapid datacenter expansion with strong long-term growth opportunities. | IRTC FERG SNOW WAT TTAN CVNA ALAB LHX SPOT VEEV MDB RBLX INSM COHR |
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| 2025 Q4 | Jan 18, 2026 | Ithaka US Growth Strategy | -6.1% | 4.5% | AMD, AMZN, AVGO, BX, CRDO, ELF, GOOG, HWM, ISRG, LLY, META, MRVL, NFLX, NOW, ORCL, SHOP, TTD, UBER, VEEV | AI, concentrated, growth, large cap, technology | The AI megatrend remains a vital secular tailwind with massive global investment providing significant economic buffer. 2026 will be the year of the Show Me phase where AI-driven revenue begins to offset massive capital expenditures. Companies are reporting tangible productivity gains from AI implementation across sectors, with examples including Uber's routing optimization, Howmet's manufacturing efficiency improvements, and Meta's conversion rate increases. AMD posted strong earnings and guided to 35% revenue CAGR driven by soon-to-be launched MI450 and MI500 series products, putting it in more direct competition with NVIDIA in rack scale architecture. The semiconductor sector continues to benefit from AI infrastructure buildout despite valuation concerns. Google Cloud Platform continues growing as part of Alphabet's diversified technology ecosystem. ServiceNow faces fears that software applications could be disintermediated by AI native products, driving multiple compression despite strong fundamental growth. Intuitive Surgical delivered massive earnings beat with da Vinci robotic surgical system continuing to generate high-margin recurring revenue from growing global installed base of 10,200 units. The MedTech sector has fallen out of favor with compressed valuations despite strong fundamentals. Netflix faced headwinds from surprise $83B bid to acquire Warner Bros Discovery requiring $50B in new debt, sparking leverage concerns and departure from traditional build-not-buy strategy. The company also faced $620M tax charge from Brazilian authorities dispute. | VEEV NOW GOOG AMD ISRG |
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| 2025 Q4 | Jan 15, 2026 | Baillie Gifford – US Equity Growth | 2.7% | 28.0% | AFRM, ALNY, AMZN, APP, CSGP, DASH, DDOG, GH, GOOGL, IOT, META, NET, NFLX, NVDA, RBLX, SHOP, SNOW, TSLA, W, WDAY | AI, Biotechnology, concentrated, E-Commerce, growth, long-term, technology, US | The fund continues to view artificial intelligence as transformational, with the United States uniquely positioned to benefit across the full value chain from critical infrastructure to emerging applications. Market sentiment was unsettled by concerns about AI investment pace and quality, with fears of an emerging AI bubble as valuations appeared to run ahead of fundamentals. The fund maintains significant exposure to e-commerce platforms like Shopify and Amazon, viewing them as critical infrastructure for global commerce. Shopify delivered strong growth with revenues up 32% year-over-year, supported by enterprise demand and AI-enabled tools rollout. The fund added United Therapeutics as a new investment, focusing on profitable biotech companies with durable cash flows. Guardant Health was a notable contributor with strong fundamentals and guidance, evolving into a multi-product diagnostics platform with progress in oncology and screening. The fund initiated a position in Coinbase as a leading regulated cryptocurrency exchange and infrastructure provider. As crypto adoption expands beyond 0.5% of global transactions and institutional participation grows, Coinbase is well-positioned to capture future growth opportunities in the digital asset economy. Roblox was a notable detractor despite very strong underlying growth with bookings rising 70% year-over-year and revenue increasing 48%. The user-generated gaming platform faces near-term margin pressure from accelerated spending on AI, creator tools, and data center capacity. Netflix was a detractor with shares falling around 22% despite 17% year-over-year revenue growth. The streaming platform continues progress in advertising with upfront commitments more than doubling and partnerships like bringing select video podcasts from Spotify to Netflix supporting engagement. | TTD PINS INSP CHWY UTHR COIN GOOG LMND SHOP GH NFLX DUOL RBLX |
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| 2025 Q4 | Jan 15, 2026 | Baillie Gifford -International Concentrated Growth | -6.7% | 16.7% | 0700.HK, 1211.HK, 1810.HK, 2413.T, 3690.HK, ADYEN.AS, ASML, ATCO-A.ST, BABA, BNTX, CPNG, DHER.DE, KER.PA, KINV-B.ST, MELI, MRNA, NU, NVDA, NVO, OCDO.L, OR.PA, PDD, RACE, RMS.PA, SAP, SE, SHOP, SPOT, TSLA, TSM, WISE.L | AI, concentrated, E-Commerce, growth, international, semiconductors, technology | Artificial intelligence continues to drive rapid operational progress across portfolio companies, with TSMC benefiting from AI-led demand and advanced nodes accounting for 74% of wafer revenue. ASML sees increasing lithography intensity driven by artificial intelligence. The managers view compute and generative AI as accelerating across industries as a key structural change driving economies over the next decade. E-commerce continues to reshape retail through greater convenience and lower costs, with portfolio companies like MercadoLibre, Shopify, and Sea Limited representing dominant positions in their respective markets. Despite near-term margin pressures from investments in logistics and fulfillment, the managers remain confident in the long-term digitization trend and competitive positioning of these platforms. The semiconductor sector shows strong momentum with TSMC reporting over 40% year-on-year revenue growth and ASML seeing substantial EUV demand with expectations for 15% sales growth in 2025. The managers emphasize the irreplaceable technology leadership and competitive moats of these companies as compute intensity rises globally. Digital media consumption continues progressing with Spotify demonstrating strong operating leverage, reaching 713 million users and 281 million subscribers while expanding operating margins to mid-teens levels. The platform's ecosystem depth and innovation strengthen its competitive position as media digitization advances. | View | |
| 2025 Q4 | Jan 15, 2026 | Baillie Gifford – US Equity Growth | -2.4% | 17.2% | 1299.HK, 6146.T, 6857.T, 6861.T, ADYEN.AS, ARGX, ASML, ATCO-A.ST, DSV.CO, GALP.SW, MELI, NU, OR.PA, RACE, RMS.PA, SE, SHOP, SPOT, TSM, WTC.AX | AI, E-Commerce, growth, international, semiconductors, technology | Artificial intelligence demand is driving structural growth in semiconductor testing equipment and memory chips. Advantest benefits from sustained AI data center investment with improved visibility, while SK Hynix leads in high-bandwidth memory (HBM) technology critical for AI infrastructure bottlenecks. The fund maintains significant exposure to semiconductor leaders across the value chain. TSMC and ASML delivered strong performance, while new position SK Hynix represents technological leadership in memory chips with two-year order book visibility driven by structural AI demand. Sea Limited showed strong growth with group revenues rising 40% year-on-year, led by Garena gaming and Shopee marketplace expansion. Management continues investing in logistics and fulfillment infrastructure despite near-term profitability pressures in Latin American operations. Spotify demonstrated continued operating progress with 11% user growth to 713 million and 12% subscriber growth to 281 million. Operating margins expanded to mid-teens with record quarterly free cash flow, supported by pricing optimization and advertising efficiency improvements. | GALD SW DSV DC RACE SE SPOT |
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| 2025 Q4 | Jan 14, 2026 | ARK Investment Management LLC | 0.0% | 0.0% | ACHR, AMD, AVAV, COIN, CRSP, DE, GH, GOOG, HOOD, KTOS, PLTR, RBLX, RKLB, ROKU, SHOP, TEM, TER, TRMB, TSLA, TWST | AI, crypto, defense, Genomics, innovation, productivity, Robotics, technology | ARK believes convergences among major platforms like AI, robotics, energy storage, public blockchain technology, and multiomics sequencing should accelerate non-farm productivity growth to 4–6% on a year-over-year basis. AI-related spending boom on data centers and power plants began in late 2022. Strong demand for AI-related chip testing and semiconductor testing across compute, networking, and memory. Robotics is identified as one of the major transformative innovation platforms that should converge with AI and other technologies to drive productivity gains. The ARK Autonomous Technology and Robotics ETF focuses on companies developing autonomous mobility, humanoid robots, and intelligent devices. Energy storage is highlighted as one of the key transformative innovation platforms that will converge with AI, robotics, blockchain, and multiomics sequencing to accelerate productivity growth and economic transformation in the coming years. ARK sees favorable policy shifts around crypto as supportive headwinds shifting into structural tailwinds for innovation. Coinbase faced challenges from weakness in crypto market trading activity, with quarterly spot trading volumes declining 9% quarter-over-quarter. The firm maintains exposure through Bitcoin ETFs and crypto-related companies. Multiomics sequencing is identified as one of the major transformative platforms. The genomics space benefited from increasingly positive sentiment following Abbott's acquisition of Exact Sciences. Companies like Guardant Health and Natera showed strong performance with significant revenue growth and clinical trial successes. Defense spending represents a significant opportunity with the U.S. Army announcing plans to purchase at least one million drones in the next 2–3 years. Companies like Kratos Defense, AeroVironment, and Rocket Lab are positioned in this space, though innovation-based defense stocks experienced broad sell-offs during the quarter. | View | |
| 2025 Q4 | Jan 12, 2026 | ClearBridge Investment Growth Strategy | - | - | ALNY, AVGO, DLB, DOCS, ELF, FCX, HLT, HOOD, MSGE, MSGS, ODFL, ONON, SHOP, TEL, TJX, TKO, UNH, VRTX, VST, XPO | AI, balance, growth, innovation, semiconductors, technology, volatility | The letter outlines a balanced growth approach combining participation in AI-driven momentum with downside protection through diversified stock selection. Emphasis is placed on companies with durable fundamentals, innovation-led growth, and disciplined capital allocation. Growth investing is positioned as increasingly selective amid heightened volatility and dispersion. | ELF SHOP |
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| 2025 Q4 | Jan 12, 2026 | Polen Capital – Focus Growth | -1.5% | 3.9% | AAPL, ABT, AMZN, GOOGL, ISRG, LLY, META, MSFT, NFLX, NOW, ORCL, SHOP, WDAY, ZTS | AI, Concentration, growth, healthcare, large cap, Quality, software | Despite market concerns about an AI bubble and infrastructure investment circularity, the managers believe the datacenter capex cycle should continue driven by rapid revenue and earnings growth, increasing demand, and supportive policy. They maintain exposure while diversifying beyond AI themes for portfolio resilience. The portfolio faces headwinds as quality factors continue to underperform while high-beta factors outperform in the current market environment. The managers remain focused on competitive advantages and long-term business fundamentals despite near-term performance challenges. Initiated position in Intuitive Surgical, which maintains a de facto monopoly in soft tissue robotic surgery globally. The company has become standard of care in many surgical modalities with large barriers to entry and continues to innovate with its next generation platform driving accelerating procedure growth. Eli Lilly rallied over 40% in Q4 driven by strong financial results and reaching agreement with the White House that lowering GLP-1 drug prices will greatly increase the addressable market in the US and provide a long runway for future growth. | NFLX WDAY ISRG ORCL LLY |
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| 2024 Q3 | Sep 30, 2024 | Baron Focused Growth Fund | 11.7% | 13.2% | ARNB, BIRK, GWRE, H, IBKR, MRNA, MTN, ONON, RRR, SHOP, SPOT, TSLA | - | View | ||
| 2024 Q3 | Sep 30, 2024 | RiverPark Large Growth | 3.7% | 16.4% | ADYEY, BX, GOOG, KKR, META, MSFT, PINS, SCHW, SHOP, SNAP | - | View | ||
| 2024 Q3 | Sep 30, 2024 | RiverPark Long/Short Opportunity Fund | 0.6% | 11.1% | BX, GOOG, META, PINS, SHOP | - | View | ||
| 2022 Q3 | Sep 30, 2022 | Baron Focused Growth Fund | 11.7% | 13.2% | DNUT, FDS, FIGS, GWRE, H, IRDM, SHOP, TSLA | - | View | ||
| 2022 Q3 | Sep 30, 2022 | Baron Opportunity Fund | 4.0% | 25.1% | ARGX, GOOG, INDI, ISRG, IT, MPWR, MSFT, NET, NOW, NVDA, RIVN, SHOP, TSLA, ZI | - | View | ||
| 2023 Q2 | Sep 14, 2023 | Spear Advisors | -3.5% | 0.0% | AMD, HUBS, MRVL, NVDA, S, SHOP, SNOW | - | View | ||
| 2024 Q2 | Jul 27, 2024 | Baron Focused Growth Fund | 11.7% | 13.2% | DNUT, GWRE, H, MNT, RRR, SHOP, SPOT, TSLA | - | View | ||
| 2023 Q2 | Jul 19, 2023 | Polen Capital – International Growth | 3.3% | 3.9% | 6920 JP, BNZL LN, HDB, ICON, SGE LN, SHOP, TEP AV | - | View | ||
| 2024 Q2 | Jul 16, 2024 | Polen Capital – Global SMID Company Growth | 3.5% | 9.5% | ADBE, ADSK, AMZN, GOOG, MC FP, MSCI, NVDA, PAYC, SHOP, WDAY, ZTS | - | View | ||
| 2024 Q2 | Jun 30, 2024 | RiverPark Large Growth | 3.7% | 16.4% | AAPL, ADYEN, DIS, FIVN, GOOG, NKE, NVDA, PINS, SHOP, SNAP | - | View | ||
| 2024 Q2 | Jun 30, 2024 | Loomis Sayles Global Growth Fund | 3.5% | 10.4% | ADYEY, CRSP, GOOG, RNA, SHOP, TCEHY | - | View | ||
| 2023 Q2 | Jun 30, 2023 | RiverPark Large Growth | 3.7% | 16.4% | ADSK, AMZN, COST, DIS, ILMN, META, NKE, NVDA, PYPL, SHOP, UBER, ZTS | - | View | ||
| 2023 Q2 | Jun 30, 2023 | RiverPark Long/Short Opportunity Fund | 0.6% | 11.1% | AMZN, COST, DIS, ILMN, ISRG, META, NKE, PYPL, SHOP, UBER, XHB, ZTS | - | View | ||
| 2023 Q1 | Mar 31, 2023 | RiverPark Large Growth | 3.7% | 16.4% | AAPL, DDOG, ISRG, LULU, META, NVDA, SCHW, SHOP, UBER, UHN | - | View | ||
| 2023 Q1 | Mar 31, 2023 | RiverPark Long/Short Opportunity Fund | 0.6% | 11.1% | AAPL, ARNB, EZU, LULU, META, NVDA, SCHW, SHOP, UBER, UNH, XHB, XLI | - | View | ||
| 2022 Q1 | Mar 31, 2022 | Baron Opportunity Fund | 4.0% | 25.1% | ARWR, CDAY, CRWD, ILMN, MDB, MSFT, RIVN, SHOP, SWAV, TSLA, V | - | View | ||
| 2022 Q1 | Mar 31, 2022 | Baron Partners Fund | 13.9% | 4.5% | ACGL, CSGP, IDXX, IRDM, MTN, SCHW, SHOP, SPOT, TSLA | - | View | ||
| 2023 Q4 | Feb 27, 2024 | RiverPark Long/Short Opportunity Fund | 0.6% | 11.1% | COF, KRE, MSFT, QQQ, SHOP, UBER | - | View | ||
| 2022 Q4 | Feb 24, 2023 | L1 Capital Long Short Fund | 2.4% | 10.8% | CHR CN, CVE, FLTR LN, MDGL, MIN AU, ORG AU, QAN AU, QBE AU, SHOP, TECK | - | View | ||
| 2023 Q4 | Jan 31, 2024 | RiverPark Large Growth | 3.7% | 16.4% | ILMN, MSFT, NFLX, SHOP, SNAP, UBER | - | View | ||
| 2024 Q4 | Jan 24, 2025 | Rowan Street Capital | - | 56.6% | META, SHOP, SPOT, TOI CN, TTD | - | View | ||
| 2023 Q4 | Jan 24, 2024 | Rowan Street Capital | 12.8% | 42.3% | ADYEY, META, SHOP, SPOT, TOI CN, TTD | - | View | ||
| 2024 Q4 | Jan 16, 2025 | Polen Capital – Focus Growth | 4.7% | 16.1% | ADBE, AMZN, AVGO, CSGP, LLY, NFLX, NOW, ORCL, SHOP, TMO, TSLA, ZTS | - | View | ||
| 2024 Q4 | Jan 16, 2025 | Polen Capital – Global SMID Company Growth | 2.3% | 12.0% | ABNB, ADBE, AMZN, CSGP, GOOG, ICLR, MC FP, NVO, OR FP, ORCL, PAYC, SHOP | - | View | ||
| 2024 Q4 | Jan 16, 2025 | Polen Capital – International Growth | - | - | ACN, CSL AU, EVO SS, ICLR, KER FP, MELI, MNDY, NU, SAP GR, SGE LN, SHOP, SPOT, SU FP, TEMN SW, WTW | - | View | ||
| 2023 Q4 | Jan 16, 2024 | Brown Capital Management Mid Company Fund | -7.9% | -3.1% | DXCM, MANH, OMCL, SHOP, VEEV | - | View | ||
| 2023 Q4 | Jan 15, 2024 | Artisan Mid Cap Fund | 2.4% | 6.6% | ARGX, ASND, BNTX, CELH, CMG, DXCM, JBL, LSCC, LULU, ON, RGEN, RYAN, SHOP, VEEV, XYL | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 26, 2026 | Fund Letters | Alan Breed | Shopify Inc. | Information Technology | Internet & Direct Marketing Retail | Bull | New York Stock Exchange | B2b, e-commerce, Free Cash Flow, Gross margin, international expansion, Payments, platform, POS | View Pitch |
| Feb 21, 2026 | Fund Letters | Aziz V. Hamzaogullari | Shopify Inc. | Information Technology | Internet Services & Infrastructure | Bull | New York Stock Exchange | e-commerce, Free Cash Flow, network effects, Omnichannel, Payments, platform | View Pitch |
| Feb 21, 2026 | Fund Letters | Alex Umansky | Shopify Inc. | Information Technology | IT Services | Bull | New York Stock Exchange | Checkout, Commerce, Ecosystem, efficiency, innovation, Lending, monetization, Payments, platform | View Pitch |
| Jan 24, 2026 | Fund Letters | Emerson Bluhm | Shopify Inc. | IT Services | E-commerce Platforms | Bull | New York Stock Exchange | AI tools, Gmv Growth, Merchant Services, Payments, Platform Scale | View Pitch |
| Jan 24, 2026 | Fund Letters | David E. Levanson | Shopify Inc | Information Technology | IT Services | Bull | New York Stock Exchange | AI, ecommerce, GMV, Payments, platform | View Pitch |
| Jan 21, 2026 | Fund Letters | Kirsty Gibson | Shopify Inc. | Information Technology | Internet Services & Infrastructure | Bull | New York Stock Exchange | ecommerce, enterprise, operating leverage, platform, Take rate | View Pitch |
| Jan 16, 2026 | Fund Letters | Kayode O. Aje | Shopify Inc. | Information Technology | Application Software | Bull | New York Stock Exchange | ecommerce, Margins, Merchants, Payments, Software | View Pitch |
| Jan 15, 2026 | Fund Letters | Brian Angerame | Shopify Inc. | Information Technology | Internet Services & Infrastructure | Bull | New York Stock Exchange | ecommerce, Enterprises, Margins, monetization, Platforms | View Pitch |
| Jan 8, 2026 | Fund Letters | Kathleen A. McCarragher | Shopify Inc. | Information Technology | E-commerce & Auction Services | Bull | NASDAQ | ecommerce, Globalization, Merchants, Platforms, profitability, Subscriptions | View Pitch |
| Jan 8, 2026 | Fund Letters | Alex Umansky | Shopify Inc. | Information Technology | Application Software | Bull | New York Stock Exchange | AI, ecommerce, Merchants, Payments, SaaS | View Pitch |
| Nov 29, 2025 | Fund Letters | Brian A. Christiansen | Shopify Inc. | Information Technology | E-Commerce | Bull | NYSE | e-commerce, enterprise, GMV, growth, International, Margins, SaaS | View Pitch |
| Nov 29, 2025 | Fund Letters | Paulina McPadden | Shopify Inc. | Information Technology | Application Software | Bull | NYSE | e-commerce, global expansion, GMV, Margins, network effects, Point of Sale, SaaS | View Pitch |
| Nov 28, 2025 | Fund Letters | Paulina McPadden | Shopify Inc. | Information Technology | Application Software | Bull | NYSE | e-commerce, global expansion, GMV, Margins, network effects, Point of Sale, SaaS | View Pitch |
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||