SNPS

SNPS

SNPS

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q3	Sep 30, 2025	ACATIS Investment	-	-0.2%	2330 TT, 6920 JP, AMRZ, ANSS, CLS CN, CRM, DWNI GR, HAL, HIMS, HOLX, ICE, ISRG, KGH PW, KRN GR, KVUE, KYGA IR, LRCX, PEP, SNPS, UMI BB, UNH, UPWK, VNA GR, ZAL GR	energy security, fiscal deficits, Global Fragmentation, Industrial Policy, Trade Policy	The report discusses mounting geopolitical fragmentation and policy uncertainty, emphasizing how trade tensions, fiscal imbalances and shifting global alliances are reshaping capital flows and regional growth prospects. Management highlights structural challenges in Europe alongside opportunities tied to industrial policy, energy security and technological sovereignty. In this environment, ACATIS positions portfolios toward globally competitive companies with resilient business models and exposure to long-term structural trends rather than cyclical macro swings.	UPWK UMI BB PEP KGH PW HIMS HAL ZAL GR CLS CN SNPS HOLX ICE KRN GR 2330 TT	View
2025 Q3	Sep 30, 2025	Edgewood Management	-1.2%	5.5%	ASML, BSX, FICO, ISRG, LLY, SNPS	Artificial Intelligence, earnings growth, Large Cap Growth, risk management, Semiconductor Equipment	The presentation emphasizes a concentrated 22-stock large cap growth portfolio with roughly 28% exposure to AI infrastructure buildout, supported by disciplined risk controls including an 8% position limit and 25% sector cap. As shown in the AI framework on page 10, holdings span infrastructure enablers like NVIDIA and ASML, proprietary data platforms such as ServiceNow and Intuit, and productivity beneficiaries including S&P Global and TransDigm. Despite Q3 underperformance versus benchmarks, management added capital personally and redeployed into high-conviction names, underscoring confidence in durable earnings growth and secular AI monetization.	BSX ISRG SNPS ASML LLY FICO	View
2025 Q2	Jul 29, 2025	ClearBridge Investments All Cap Growth	-	-	ICLR, LLY, PLTR, SNPS, TGT	AI, growth, secular trends, technology, volatility	The commentary highlights a sharp risk-on rebound led by technology, AI, and communication services following tariff fears. ClearBridge emphasizes selective growth investing with attention to valuation, favoring companies with strong execution and secular tailwinds. Volatility is used to upgrade portfolio quality.	TGT ICLR PLTR SNPS LLY	View
2025 Q1	Apr 8, 2025	ClearBridge Investments Large Cap Growth Strategy	-	-	ALC SW, SNPS	-			View
2024 Q1	Apr 15, 2024	TimesSquare Capital Management U.S. FOCUS Growth Equity Strategy	3.7%	0.0%	COR, CRWD, LEGN, LNG, ORLY, RNR, SNPS, VEEV, VRSK	-			View
2025 Q4	Feb 8, 2026	SGA – Global Growth	-0.3%	3.1%	1299.HK, 9983.T, ADYEN.AS, ALC, AMZN, AON, ARM, AVGO, BABA, CMG, CP, CRM, DHR, EXPN.L, GOOGL, HDB, INFY, INTU, IT, MELI, META, MSFT, NFLX, NOW, NVDA, SAP, SE, SNPS, SPGI, STE, TSM, UMG.AS, UNH, V, WM	AI, cyclicals, global, growth, Quality, valuation	AI capital expenditure growth is expected to moderate due to structural constraints including power availability, skilled labor shortages, and capital availability limits. Hyperscalers are approaching 90% of operating cash flows for CapEx spending, creating natural constraints on future growth rates. Quality factors including sales stability and high gross margins continued to underperform in 2025 as markets favored cyclical and momentum-driven assets. The portfolio's quality growth companies are trading at historically attractive relative valuations. Market leadership was dominated by momentum and cyclical assets while quality growth strategies faced headwinds. Extreme concentration and momentum effects created significant winners and losers independent of company fundamentals.	INFY NOW ARM MELI MSFT SE NFLX AVGO 9983 JP TSM GOOG	View
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	View
2025 Q3	Nov 8, 2025	Baron Opportunity Fund	5.4%	14.2%	ANET, AVGO, HTFL, IT, NVDA, PAR, SNPS, SPOT, TEAM, TSLA, TTD	AI, Cloud, compute, innovation, semiconductors	The fund notes unprecedented AI-driven capital spending, including multigigawatt compute commitments and expanding TAM projections across software, semiconductors, and cloud. Managers evaluate AI through multiple vectorscommercial displacement, labor transformation, and innovation accelerationwhile emphasizing real monetization pathways. AI remains the dominant secular growth engine shaping portfolio construction and opportunity assessment.	PAR IT TTD AVGO TSLA NVDA FFBC NEE	View
2025 Q3	Nov 30, 2025	Rothschild & Co LongRun Equity Fund	3.9%	-4.0%	AMZN, CDNS, GOOG, SNPS	Capital Allocation, Compounding, Pricing Power, Quality, returns on capital	The letter centers on long-term ownership of high-quality businesses with durable competitive advantages and strong capital allocation. Compounding earnings, pricing power, and high returns on capital are emphasized over short-term market movements. Valuation discipline is applied within a quality framework to preserve capital and drive long-run returns.		View
2025 Q3	Oct 9, 2025	Polen Capital – Focus Growth	3.1%	5.5%	AVGO, BSX, INTU, IT, NVDA, ORCL, SNPS, TMO, UBER	AI, Cloud, growth, Quality, semiconductors	Market performance remains dominated by AI enthusiasm and semiconductor strength. Polen emphasizes high-quality, durable businesses like Oracle and Broadcom, expecting AI infrastructure demand to sustain earnings growth despite short-term volatility.	UBER SNPS BSX INTU AVGO NVDA	View
2024 Q3	Oct 28, 2024	Parnassus Core Equity Fund	5.5%	18.2%	ADBE, AMAT, AMZN, CHTR, DHI, GOOG, ICE, INTC, MU, O, SHW, SNPS, SYK, WM	-			View
2025 Q3	Oct 14, 2025	Aristotle Value Equity Fund	3.8%	8.7%	AMP, CTVA, MLM, SNPS, WFC, XEL	Artificial Intelligence, financials, Quality, Trade, value	The fund emphasizes valuation discipline amid renewed market exuberance fueled by AI infrastructure spending and fiscal stimulus. It compares the current AI cycle to past overinvestment eras, noting selective opportunities in quality firms like Synopsys and Wells Fargo. Broader trade normalization and resilient U.S. earnings underpin the cautious optimism.	WFC US SNPS US	View
2025 Q3	Oct 10, 2025	The Bristlemoon Global Fund	5.0%	-	ASML NA, GOOG, PAR, SNPS	AI, Chips, Lithography, semiconductors, software	The fund discusses opportunities in semiconductors, highlighting ASMLs monopoly position in lithography amid AI-driven chip demand and cyclical mispricing. Alphabet is analyzed as an AI platform reinventing itself through Gemini models and monetizing AI search without disrupting core advertising economics. Synopsys is positioned as a resilient picks-and-shovels play in chip design, benefiting from structural AI hardware demand.	PAR UN SNPS US GOOGL US ASML NA	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 23, 2026	Bell Global Equities Fund	-1.5%	0.0%	3064.T, 6098.T, 8697.T, AAPL, ACN, AMZN, AUTO.L, AVGO, BOOT, GOOGL, GWW, JPM, LPLA, META, MSFT, NVDA, ODFL, SAP.DE, SNPS, TSCO, V	financials, Global Equities, industrials, QARP, Quality, technology	Bell maintains a Quality at a Reasonable Price (QARP) approach despite challenging performance in 2025. The team believes quality investing periods of underperformance often create compelling opportunities to lean in as fundamentals ultimately reassert themselves and valuations matter again. The portfolio benefits from sustained demand from AI-driven data centre investment, with technology companies like NVIDIA representing significant holdings. AI infrastructure continues to drive performance across multiple portfolio positions.	JKHY LPLA GWW TSCO ODFL	View
2025 Q4	Jan 13, 2026	Generation Investment Management Global Equity	-	-	ADYEY, AMZN, ASML, CRM, CSL, DHR, GOOGL, LEGN.PA, MCO, MELI, MSCI, MSFT, SIK.SW, SNPS, SPOT, SU.PA, TMO, TSM, VWS.CO, WDAY	AI, Energy Transition, global, long-term, Quality, sustainability, technology, valuation	Generation believes computing power demand will roughly triple if a third of internet users interact with AI services via voice for 20 minutes daily. They invest across the AI build-out from chip manufacturing (TSMC, ASML) to electrical equipment (Legrand, Schneider) to cloud companies. Roughly one third of the portfolio is involved in AI build-out in some capacity. Generation focuses on quality companies with strong pricing power, indispensable products, and long-term thinking management teams. They believe quality stocks have had one of their weakest relative performances in 15 years, creating attractive valuations. The portfolio has never been so cheaply valued relative to benchmark despite faster earnings growth. MercadoLibre serves as Latin America's core digital infrastructure, operating in 18 countries with strong positions in Brazil, Argentina and Mexico. The platform handled 1.8 billion shipments in 2024, roughly doubling from 2020 figures. Over half a million SMEs sell on the platform representing upwards of 70% of gross merchandise sales. Generation invests across the payments ecosystem including Visa, Mastercard, PayPal, and Adyen. Adyen processes EUR 1.4 trillion of payments with a single global platform approach. More than half of MercadoLibre users say Mercado Pago was their first digital payment method, demonstrating the financial inclusion benefits. The portfolio includes renewable energy companies like Vestas Wind Systems and energy efficiency companies like Legrand and Schneider Electric. Companies are setting science-based emissions targets with 67% of portfolio covered by validated targets. The transition faces political headwinds but technological and economic advances continue to accelerate.		View
2024 Q3	Sep 30, 2024	Carillon Eagle Mid Cap Growth Fund	0.0%	0.0%	AXON, CELH, CRWD, DXCM, ENTG, FICO, GEV, SNPS, VST, WAB	-			View
2024 Q3	Sep 30, 2024	Columbia Global Technology Growth Fund	-0.9%	0.0%	AAPL, AVGO, CRWD, ORCL, SNPS	-			View
2023 Q3	Sep 30, 2023	Carillon Eagle Mid Cap Growth Fund	0.0%	0.0%	ALB, BKR, CLA LN, CRWD, DXCM, HAL, PEN, PLNT, SNPS	-			View
2023 Q3	Sep 30, 2023	TimesSquare Capital Management U.S. FOCUS Growth Equity Strategy	3.7%	0.0%	BC, CHE, CRWD, IDXX, LNG, MLM, ORLY, PANW, RNR, SNPS, VRSK, WCN	-			View
2023 Q3	Sep 30, 2023	TimesSquare Capital Management U.S. Mid Cap Growth Strategy	4.8%	0.0%	APTV, ARGX, BJ, CSGP, EFX, FIVE, FND, GFL, HCP, IAC, IDXX, LNG, MLM, PINS, PXD, RGEN, RNR, ROST, RPM, RPRX, SNPS, VAC	-			View
2023 Q2	Jul 28, 2023	Aristotle Core Equity Fund	2.9%	21.3%	ADPT, AVGO, CTLT, DIS, EL, GH, NFLX, SNPS	-			View
2023 Q2	Jul 27, 2023	Carillon Eagle Mid Cap Growth Fund	0.0%	0.0%	CMG, ENPH, ENTG, MKTX, MLM, MRVL, MSCI, SNPS, ULTA, WOLF	-			View
2023 Q1	Apr 18, 2023	Cooper Investors Global Equities Fund (Unhedged)	5.5%	5.4%	7741 JP, BKNG, LSEG LN, RTO, SNPS	-			View
2025 Q1	Apr 14, 2025	Parnassus Core Equity Fund	-2.4%	-2.4%	AMD, AMZN, AVGO, AZO, BRO, CI, CRM, DE, DHI, ICE, MAR, SNPS, VZ, WM	-			View
2025 Q1	Apr 14, 2025	Parnassus Growth Equity Fund	-8.6%	-8.6%	ADBE, ADYEY, APP, ASML, BRO, BSX, CRM, CSGP, DDOG, DE, EFX, EXAS, GEV, MSCI, PCOR, SN, SNPS, V, VRTX	-			View
2023 Q4	Jan 27, 2024	Carillon Eagle Mid Cap Growth Fund	0.0%	0.0%	CRWD, DXCM, GTLS, HAL, MPWR, PAYC, PLNT, SNPS, TRU	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Feb 26, 2026	Fund Letters	Dr. Hendrik Leber	Synopsys, Inc.	Information Technology	Application Software	Bear	NASDAQ	arbitrage, Deal Spread, Event-driven, exit, merger	View Pitch
Feb 26, 2026	Fund Letters	Alan Breed	Synopsys, Inc.	Information Technology	Application Software	Bull	NASDAQ	Artificial Intelligence, backlog, Eda, Export restrictions, Intellectual Property, recurring revenue, Semiconductor Design	View Pitch
Jan 13, 2026	Seeking Alpha	Seeking Alpha	Synopsys, Inc.	Information Technology	Application Software	Bear	NASDAQ Stock Market	chip demand, earnings reset, electronic design automation, financial health, geopolitical tensions, industry challenges, IP business, market visibility, semiconductor industry, supply chain disruptions	View Pitch
Dec 5, 2025	Fund Letters	Evan Bauman	Synopsys, Inc.	Information Technology	Application Software	Bull	NASDAQ	duopoly, Margins, Pricing, semiconductors, Software	View Pitch
Nov 29, 2025	Fund Letters	Dan Davidowitz	Synopsys Inc.	Information Technology	Application Software	Bull	NASDAQ	Eda, margin expansion, Pricing power, Secular tailwind, switching costs	View Pitch
Sep 14, 2025	Substack	Rijnberk Invest Insights	Synopsys, Inc.	Technology	Software - Infrastructure	Bull		AI-driven design, Ansys acquisition, buying opportunity, EDA software, geopolitical challenges, long-term growth, market share, semiconductor IP, stock correction, Synopsys	View Pitch
Aug 13, 2025	Seeking Alpha	Grassroots Trading	Synopsys, Inc.	Information Technology	Software - Infrastructure	Neutral	NASDAQ	—	View Pitch
Aug 13, 2025	Seeking Alpha	Tangerine Tan Capital	Synopsys, Inc.	Other	-	Bull	NASDAQ	—	View Pitch

BSD Shareholders of SNPS

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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