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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q1 | Apr 12, 2025 | Alpha Wealth Funds – The Insiders Fund | - | - | ADBE, APPF, COP, CYH, DVN, ET, GRAL, INBX, LLY, LULU, LUV, MPLX, MSCI, MSFT, ROK, SNBR, ZBRA | Automation, concentrated, energy, healthcare, insider buying, tariffs, technology | The fund is significantly impacted by Trump tariff policies, with the manager reducing exposure to manufacturing or sales in China. The tariff regime is described as expansive with few places to hide, forcing portfolio adjustments across multiple positions. | INBX ROK ZBRA APPF ADBE MSCI ET GRAL |
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| 2025 Q4 | Feb 6, 2026 | Third Point Partners | 1.9% | - | 000660.KS, 034730.KS, BHC, CRS, CSGP, DSV.CO, ENR.DE, META, MIK, MSFT, PCG, PRMB, QBR.B.TO, SNBR, TPG, VST | AI, credit, defense, healthcare, Mortgage, semiconductors, Telecom, value | AI dominates market headlines and is forcing a re-think of established beliefs about capital-light business models like software. Many software companies now face increased investor skepticism about the sustainability of their moats and scrutiny of their high-margin structures. The AI theme seems less bulletproof with recent Oracle selloff. Ongoing rotation from software into semiconductors, memory, and semicap equipment. SK Hynix has solidified its leadership in high-bandwidth memory (HBM), emerging as the exclusive HBM supplier for Microsoft's in-house AI accelerator and securing roughly two-thirds of NVIDIA's anticipated HBM4 demand at meaningfully higher price points and margins. Continued strength in European defense equities as capital-intensive businesses like defense contractors are having their moment. Investors are waking up to their mission critical role in the rebuilding of supply chains and national security complexes. Both private credit and private equity will continue to struggle with monetization due to billions of dollars trapped in private equity that cannot be monetized at acceptable prices. The line between public and private is blurring with the more relevant distinction being traded and not yet traded. Expect more liability management exercises and in-court restructurings with almost 40% of restructurings being repeat offenders. Ratings downgrades and defaults continue to pressure stressed leveraged loans creating attractive entry points with elevated dispersion in the leveraged loan market. Residential mortgages remained resilient in 2025, particularly seasoned loans with lower balances. There is currently $35.8 trillion of home equity in US homeowners' balance sheet, creating large margin of credit protection and ability to expand investments in residential real estate into home affordability products. | SGI 402340 KS |
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| 2025 Q3 | Oct 21, 2025 | Zeno | - | - | APH, CSU.TO, CTAS, DHR, EZJ.L, HCSG, LIN, ODFL, RYAAY, SNBR, TPG | Capital Allocation, compensation, execution, management, Ownership, Quality, returns | The fund focuses on companies with exceptional execution and long-term risk assessment capabilities. They seek businesses with owner-operators who demonstrate Founder's Mindset, combining executional urgency with disciplined capital allocation. These quality companies have delivered mid-teens or higher long-term total shareholder returns through superior business models. | View | |
| 2024 Q4 | Jan 2, 2025 | Cedar Grove Capital Management | 21.0% | 0.0% | AAPL, HIMS, MSTR, RCAT, SNBR | AI, crypto, Hedging, Multi-Strategy, Options, small caps, Telehealth, Trump | HIMS is the fund's second-largest holding with immense long-term potential in cash-pay telehealth. The manager navigated complex option strategies around FDA decisions on Tirzepatide and Semaglutide, ultimately protecting the position while maintaining conviction in the long-term thesis despite short-term volatility. | View | |
| 2024 Q3 | Sep 30, 2024 | Firebird US Value Fund | 0.0% | 0.0% | AIZ, FTI, NTR, RCM, SNBR, SYF, TRV | Buybacks, Capital Allocation, free cash flow, insurance, rates, value | The fund analyzes the relationship between interest rates and buyback activity, noting that S&P 500 buybacks have been value-destructive due to low free cash flow yields below borrowing costs. In contrast, the fund's portfolio companies like Synchrony Financial and Nutrien have double-digit free cash flow yields, making their buybacks value-accretive. | AIZ TRV |
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| 2023 Q1 | Mar 31, 2023 | Vulcan Value Partners – Focus Plus | 5.6% | 18.6% | AMAT, AMZN, ARES, AYI, CNM, CRM, CW, GE, GEHC, GOOGL, IHG.L, KKR, LFUS, MSFT, SEE, SNBR, SWKS, TDG, UPS | aerospace, Hotels, infrastructure, large cap, semiconductors, small cap, technology, value | Microsoft's Azure growth decelerated during the quarter and is expected to decelerate further next quarter. The company is managing expenses to preserve margins amid headwinds. Microsoft's partnership with OpenAI and ChatGPT announcements represent a complex and rapidly developing opportunity. | ARES DEEPSEEK CNM AYI ACWI UPS IHG.L |
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| 2023 Q4 | Jan 28, 2024 | Mairs & Power – Small Cap Fund | 0.0% | 9.0% | AIR, ALTR, AZEK, CFR, CLFD, DGII, ENTG, INSP, JAMF, KNF, NVT, PIPR, SNBR, THRM | financials, healthcare, industrials, infrastructure, small cap, technology, value | Industrial companies are positioned to benefit from significant multi-year state and federal government infrastructure projects which will likely play out in the coming decade. Knife River is viewed as ideally positioned to address multiple significant state and federal infrastructure stimulus programs spanning many years. | View | |
| 2024 Q4 | Jan 20, 2025 | Alpha Wealth Funds – The Insiders Fund | - | 7.6% | BIOHAVEN, CARR, COP, CRK, DVN, EQT, ET, GRAL, INBX, LBRT, LLY, LULU, LUV, MSFT, RXST, SEDG, SMCI, SNBR, TMCI | AI, Biotechnology, Concentration, energy, Insider Trading, Long/Short, value | Energy Transfer is positioned as a prime beneficiary of Trump administration's LNG export growth plans. Devon Energy holds substantial natural gas reserves that appear undervalued despite recent sector price increases. ConocoPhillips offers diversified energy exposure with strong shareholder returns. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| 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. | ||||||||