Join for free and get access to the buyside
Get insights from the world's most influential hedge fund investors direct to your inbox
- © 2025 Buyside Digest
- Privacy Policy
- Disclaimer
- Sitemap
- Terms of Service
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 9, 2025 | Middle Coast Investing | - | - | AAPL, ABM, AER, AMZN, ATRO, AVGO, BOOM, COF, DECK, ECG, FCNCA, FG, HSY, LEVI, LULU, LYFT, OMAB, PGR, SCHW, SCS, SJM, TRIP, VMEO, WS | Apparel, financials, inflation, small caps, tariffs, technology, value | The Trump administration has backed off its most extreme tariff positions but tariffs remain higher than before April 2nd. The administration has expressed admiration for current tariff levels of 30% for China, varied tariffs for NAFTA partners, and at least 10% for the rest of the world. One trade deal has been reached with Vietnam entailing 20% tariffs on Vietnamese goods and 40% on third-party goods shipped through Vietnam. | DECK LYFT TRIP ABM DECK LYFT |
View |
| 2024 Q2 | Jul 8, 2024 | Middle Coast Investing | 0.0% | 0.0% | AAPL, ACLS, AER, AMZN, ARLO, ATKR, ATRO, AVGO, BKNG, DFS, FCNCA, FG, GOGO, LULU, NVDA, OMAB, PGR, SJM, TSM, VOW3.DE | Discipline, Portfolio Management, small caps, stock selection, value | Manager emphasizes buying quality companies at reasonable prices, gravitating toward cheaper, lower earnings-multiple stocks where price doesn't reflect potential value. Focus on finding stocks that will be worth more in 2-3 years than current market price suggests. | GOGO SJM ATRO LULU |
View |
| 2025 Q2 | Jul 17, 2025 | Ariel Focus Fund | 4.8% | - | APA, CLB, GNRC, MOS, ORCL, REZI, SJM | Agriculture, AI, energy, large cap, tariffs, technology, value | Artificial intelligence themed stocks drove market recovery with reignited enthusiasm. Oracle benefited from accelerating demand for cloud and AI capabilities, positioning as leading provider of database software and cloud-based infrastructure for generative AI development. | GNRC CLB APA SJM REZI MOS ORCL CLB APA SJM REZI MOS ORCL |
View |
| 2025 Q2 | Jul 17, 2025 | Ariel Fund | 7.0% | - | ATGE, CLB, IPG, KMT, LESL, MAS, NTRS, SJM, SPHR | AI, Education, Entertainment, small caps, SMID Cap, tariffs, value | The fund maintains a bottom-up conviction in undervalued businesses rather than macroeconomic prognostication. Small cap stocks are trading at their biggest discount to large cap shares since the dot-com boom, presenting attractive opportunities. | LESL SJM CLB NTRS ATGE SPHR LESL SJM CLB NTRS ATGE SPHR |
View |
| 2025 Q2 | Jul 15, 2025 | Coho Relative Value Equity | - | - | AAPL, ABT, AMZN, BAX, CAG, COR, CVS, DG, DIS, GOOGL, MCHP, MDT, META, MMC, MSFT, NKE, NVDA, SJM, TMO, TOST, TSLA | AI, Concentration, Consumer Staples, GLP1, healthcare, multiples, technology, value | AI euphoria following ChatGPT release sparked impressive but narrowly led market rally in Information Technology sector. The excitement surrounding AI potential caused investors to ignore typical inverse correlation between rates and P/E multiples. AI-driven momentum propelled sectors Coho tends to underweight. | View | |
| 2024 Q1 | Apr 15, 2024 | Ariel Focus Fund | 10.6% | 0.0% | APA, CLB, Gold, LESL, MHK, MOS, PHIN, REZI, SJM, ZBRA | Buybacks, consumer, gold, industrials, large cap, oil, value | The fund focuses on buying quality businesses at compelling discounts to private market value. Multiple holdings are described as trading at substantial discounts to estimated private market value, with the manager emphasizing long-term fundamental investing over market timing. | SJM CLB REZI PHIN MHK |
View |
| 2025 Q1 | Mar 31, 2025 | Ariel Focus Fund | -3.9% | -3.9% | AAPL, AMZN, BIO, CVX, Gold, GOOGL, HES, META, MSFT, NTRS, NVDA, ORCL, REZI, SJM, TSLA | energy, gold, large cap, Recession, technology, value, volatility | The fund is actively leaning into volatility by acquiring downtrodden shares of quality companies whose value should be realized over the long term. Holdings are trading at a significant discount to their private market values, creating attractive buying opportunities for patient investors. | ORCL BIO REZI SJM CVX Gold |
View |
| 2025 Q1 | Mar 31, 2025 | Ariel Fund | -8.0% | -8.0% | AAPL, AMZN, ATGE, BIO, GOOGL, LESL, META, MSFT, NCLH, NVDA, OSW, PARA, RCL, SJM, SPHR, TSLA | Media, Recovery, small caps, Travel, value, volatility | The fund is actively leaning into volatility by acquiring downtrodden shares of quality companies whose value should be realized over the long term. Holdings are trading at a significant discount to their private market values, and dislocations of this magnitude have often served as a prelude to robust recoveries. | OSW NCLH SPHR BIO LESL SJM ATGE PARA |
View |
| 2023 Q4 | Feb 23, 2024 | Coho Relative Value Equity | 0.0% | 6.1% | AAPL, ABT, AMZN, BAX, CAG, COR, CVS, DG, DIS, GOOGL, MCHP, MDT, META, MMC, MSFT, NKE, NVDA, SJM, TMO, TSLA | AI, Consumer Staples, GLP1, healthcare, Quality, technology, Valuations, value | AI euphoria following ChatGPT release drove Information Technology sector returns over 40% in 2023. The excitement surrounding AI potential caused investors to ignore typical inverse correlation between rates and P/E multiples. AI-related stocks dominated market performance but created narrow market breadth. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Ariel Focus Fund | J.M. Smucker Company | Consumer Staples | Packaged Foods & Meats | Bull | NYSE | Consumer Food Products, Five-pillar Plan, Hostess, Iconic Brands, innovation, Marketing Investments, Packaged Foods, productivity, Total Shareholder Return | View Pitch |
| Apr 13, 2026 | Fund Letters | Ariel Fund | The J.M. Smucker Company | Consumer Staples | Packaged Foods & Meats | Bull | NYSE | brand portfolio, consumer staples, earnings beat, Food Products, innovation, Marketing, productivity | View Pitch |
| Apr 13, 2026 | Fund Letters | Middle Coast Investing | The J.M. Smucker Company | Consumer Staples | Food Products | Bull | NYSE | brand portfolio, consumer staples, debt reduction, dividend, Food Products, Free Cash Flow, GLP-1 Risk, Value | View Pitch |
| Apr 13, 2026 | Fund Letters | Ariel Focus Fund | J.M. Smucker Co. | Consumer Staples | Packaged Foods & Meats | Bull | NYSE | capital allocation, consumer staples, defensive, Food Products, Free Cash Flow, Iconic Brands, Pricing power | View Pitch |
| Apr 13, 2026 | Fund Letters | Ariel Focus Fund | J.M. Smucker Co. | Consumer Staples | Packaged Foods & Meats | Bull | NYSE | brand portfolio, Coffee, consumer staples, CPG, Food Brands, Hostess, Packaged Foods, Uncrustables | View Pitch |
| Apr 13, 2026 | Fund Letters | Ariel Fund | The J.M. Smucker Company | Consumer Staples | Packaged Foods & Meats | Bull | NYSE | brand portfolio, Coffee, consumer staples, Food Manufacturing, Innovation Agenda, Sku-rationalization, Uncrustables | View Pitch |
| Dec 3, 2025 | Fund Letters | John W. Rogers | The J.M. Smucker Co. | Consumer Staples | Packaged Foods & Meats | Bull | NYSE | Branded staples, Cost synergies, dividend, Free Cash Flow, Hostess, Integration, Margin recovery, Pet snacks | View Pitch |
| Dec 3, 2025 | Fund Letters | Charles K. Bobrinskoy | The J. M. Smucker Company | Consumer Staples | Food Products | Bull | NYSE | brands, Commodities, dividend, Margins, Pricing power, Sku-rationalization, Staples | 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 |
|---|---|---|---|---|---|---|---|---|
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $5.1M | 0.01% | 52,034 | -74,500 | -75.10% | 0.0446% |
| Steven Halverson | Private Capital Management | $1.0B | $317,883 | 0.03% | 3,250 | -6,050 | -65.05% | 0.0028% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $180.3M | 0.21% | 1,843,866 | +1,843,866 | +100.00% | 1.5792% |
| Lee Ainslie | Maverick Capital | $9.3B | $2.7M | 0.03% | 27,912 | -5,226 | -15.77% | 0.0239% |
| Ray Dalio | Bridgewater Associates | $27.4B | $22.8M | 0.08% | 232,966 | +226,215 | +3350.84% | 0.1995% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $154.8M | 0.20% | 1,583,041 | -346,185 | -17.94% | 1.3558% |
| Israel Englander | Millennium Management LLC | $233.2B | $133.7M | 0.06% | 1,367,299 | -206,906 | -13.14% | 1.1711% |
| Aaron Weitman | CastleKnight Management LP | $4.5B | $714,013 | 0.02% | 7,300 | -7,300 | -50.00% | 0.0063% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $115.2M | 0.17% | 1,177,802 | -350,160 | -22.92% | 1.0088% |
| Cliff Asness | AQR Capital Management | $190.6B | $26.4M | 0.01% | 269,498 | -759,724 | -73.82% | 0.2308% |
| Mario Gabelli | GAMCO Investors | $10.4B | $14.3M | 0.14% | 146,188 | -4,692 | -3.11% | 0.1252% |
| John Rogers | Ariel Investment | $9.3B | $157.4M | 1.70% | 1,608,943 | +65,420 | +4.24% | 1.3780% |
| Rich Handler | Jefferies | $19.3B | $735,629 | 0.00% | 7,521 | -17,518 | -69.96% | 0.0064% |