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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | Apr 15, 2024 | Aristotle Small Cap Equity Fund | 7.3% | 9.4% | ACHC, AER, ASC, ASGN, ATNI, AZEK, CPLP, DY, HURN, ITRI, MATW, MCRB, MMSI, MODV, MTSI, PWSC, QDEL, SP | Construction, healthcare, industrials, small caps, technology, value | Manager remains optimistic about long-term potential for small cap segment despite strong recent performance. Valuations of small versus large cap equities remain near multi-decade lows with 16.0x P/E for Russell 2000 versus 21.8x for Russell 1000. Small caps are better positioned to benefit from reshoring of U.S. manufacturing, CHIPS Act, and infrastructure projects. | PWSC QDEL MODV ITRI AZEK |
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| 2023 Q3 | Nov 11, 2023 | 1 Main Capital | 4.0% | 11.3% | DNTL.TO, ENZ, IWG.L, LMB, SP | Concentration, fundamentals, small caps, technology, value | Small-cap stocks continue to trade as though the economy is at peak levels and a recession is imminent. The lack of investor confidence in near-term fundamentals is leading to exacerbated moves when nonfundamental flows occur. This creates an excellent environment for good stock pickers. | ENZ ^GSPC |
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| 2022 Q4 | Feb 22, 2023 | Bernzott Capital Advisors – US Small Cap | 8.5% | 8.5% | BV, GV, GVA, HALO, HHC, JRVR, KN, MP, QUOT, SP, SSTK, UPLD, VNOM | - | View | ||
| 2023 Q4 | Jan 30, 2024 | Bernzott Capital Advisors – US Small Cap | 8.5% | 8.5% | ADTN, APG, ECPG, GVA, HALO, HCI, JRVR, NNN, PTEN, SP, SRC | energy, financials, infrastructure, Quality, real estate, small caps, value | Small caps led the market rally in Q4 with 14.0% returns, outperforming large caps. Despite the rally, small caps trade at over a 3-turn discount to large caps, which the manager believes should narrow over time. The broadening out of market returns should benefit small caps, as historically when large cap returns broaden, small caps tend to outperform. | NNN COO|CW|DKNG|FSS|HALO|ZD PTEN GVA AFM CN|B4B GR|BLU SJ|COH SJ|HCI|KO|KSPI|MGROS TI|MTN SJ|NE|NPK SJ|OCE SJ|PPI|PRX NA|SAHOL TI|SES|WINE LN |
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| 2023 Q4 | Jan 13, 2024 | Aristotle Small Cap Equity Fund | 7.3% | 9.4% | BDC, CHRS, CUBI, NOG, OII, SP | energy, financials, rates, small caps, technology, value | Manager believes small cap underperformance may be ending as valuations remain near multi-decade lows relative to large caps. Expected earnings and sales growth improvements for small caps in 2024 could outpace large caps, providing fundamental support. | ENOG.L BBDC4.SA OII CUBI ^GSPC |
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| 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. | ||||||||