SPR

SPR

SPR

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2023 Q2	Jul 7, 2023	Ennismore Global Equity Fund	0.8%	2.4%	5122.T, 7974.T, ADM.L, ATLC, BZU.MI, DIE.BR, MONY.L, MRO.L, OCDO.L, ROO.L, RR.L, SBB-B.ST, SCHE.OL, SPR, TKA.DE, UPST	aerospace, AI, Japan, Long/Short, Spin-Offs, value	Detailed analysis of Melrose Industries and GKN aerospace business model, focusing on engine components with long-term revenue sharing partnerships. The aerospace engine business offers captive aftermarket revenues over 40-year cycles, with GKN positioned across multiple engine programs including CFM56, GTF, and next-generation RISE programs.	MRO.L	View
2024 Q2	Jul 30, 2024	Penn Davis McFarland	-	-	AAPL, AMD, AMZN, BA, CSCO, FTRE, GOOGL, INTC, META, MSFT, MTCH, NVDA, PYPL, QCOM, SPR, TSM	AI, Cash, competition, Geopolitical, productivity, semiconductors, technology, value	The letter extensively discusses AI as a transformative technology with potential for immense productivity gains. The manager draws parallels between today's AI boom and the internet infrastructure build-out of 2000, noting that while Nvidia leads the AI infrastructure space like Cisco did for internet infrastructure, the real winners may be companies that leverage AI to solve real-world problems rather than just build the infrastructure.		View
2025 Q1	Mar 31, 2025	Stenham Asset Management	-	-	BA, SPR, X	credit, geopolitics, global, Hedge Funds, Macro, Recession, tariffs, volatility	The Trump administration imposed wide-ranging tariffs including 25% on foreign vehicles and auto parts, expanding from Mexico and Canada to broader global application. This represents an upending of the 50-year global free trade system, creating lasting damage to US and global economic confidence. The scale and permanence of these tariffs far exceeded expectations, causing significant market volatility and institutional repositioning away from US assets.		View
2024 Q4	Dec 31, 2024	Aristotle Atlantic Core Equity Strategy	4.0%	13.8%	AMP, AVMD, AVY, CHG, CI, CRWD, DAR, EXPE, GE, MCHP, NEE, SNOW, SPR, ZTS	aerospace, AI, cybersecurity, earnings, growth, industrials, large cap, technology	Broadcom demonstrated continuing strength in AI networking and custom accelerator semiconductor business with long-term guidance indicating $60-90 billion market opportunity from current three customers. The company exceeded investor expectations for AI semiconductor content and is ahead on VMware integration timeline.	CRWD GE	View
2024 Q4	Dec 31, 2024	Brandes Core Plus Fixed Income Fund	-2.6%	2.3%	BAC, C, F, GS, NFLX, RRC, S, SCHW, SPR, USB	credit, duration, Fed policy, fixed income, Treasury	Fed delivered a hawkish 25 basis point cut in December, reducing projected 2025 rate cuts from 100 to 50 basis points. The neutral fed funds rate may ultimately be higher than forecasted, with fundamental data suggesting rates may need to remain elevated given strong economic conditions and persistent services inflation.		View
2025 Q4	Jan 23, 2026	Brandes Core Plus Fixed Income Fund	0.9%	6.7%	ADT, CNSL, COTY, F, GTN, KSS, OGN, SABR, SPR, USB, UVN	Corporate Bonds, credit, duration, Fed policy, fixed income, inflation, Treasuries, Yield Spreads	Consumer Price Index is approximately 25% higher since COVID pandemic, the highest rise in nearly forty years. Inflation has outpaced wage growth, creating affordability issues. The manager believes inflation will trend higher rather than moving toward the Fed's 2% target. Early warning signs of credit stress in private credit markets with collapses of subprime issuers and private debt markdowns. Goldman Sachs reports 15% of private credit borrowers cannot cover interest costs. The manager questions whether these are isolated events or signs of broader trouble ahead. Fed cut rates by 1.75% since September 2024 with third consecutive reduction in December. The manager believes the market may be underestimating the ultimate neutral fed funds rate and that the last 18 years of unconventional monetary policy may have skewed perceptions of normal rates.		View
2023 Q3	Sep 30, 2023	Aristotle Atlantic Core Equity Strategy	3.1%	21.7%	CB, DAR, DG, HAL, MCHP, META, ORCL, SPR	energy, growth, inflation, large cap, rates, technology, value	Oil prices hit their highest level of the year with both WTI and Brent eclipsing $90 a barrel. Higher commodity prices benefited companies like Halliburton as supply concerns and improving supply-demand fundamentals in 2024 drive growth expectations.	ADI\|BDX\|FI\|FND\|HAS\|META\|MSFT\|MSI\|ORCL\|TMO ADI\|BDX\|FI\|FND\|HAS\|META\|MSFT\|MSI\|ORCL\|TMO ESPR ALDAR.AD 0MCB LN COO\|CW\|DKNG\|FSS\|HALO\|ZD	View
2022 Q1	Mar 30, 2022	Aristotle Core Equity Fund	2.9%	21.3%	PSX, PYPL, SPR	-			View
2023 Q4	Feb 26, 2024	Aristotle Core Equity Fund	2.9%	21.3%	AAPL, AME, AMZN, AVGO, BDX, BMY, COST, GOOGL, HAL, JPM, LLY, META, MSFT, NVDA, PEP, SPR, VRTX	AI, growth, healthcare, large cap, Pharmaceuticals, technology, value	The fund benefited from AI-driven performance, particularly through Broadcom's strength in AI business segments. The broader market's 2023 gains were primarily driven by the seven largest companies, with AI being a key factor in their outperformance.	MELI\|NFLX\|ORCL\|TCOM\|VRTX\|YUMC ALLY	View
2023 Q4	Feb 26, 2024	Aristotle Atlantic Core Equity Strategy	3.1%	21.7%	AR, AVGO, BDX, BMY, CHH, DAR, EXPE, HAL, LLY, NOW, PEP, SPR, TFX, VRTX	earnings, energy, healthcare, large cap, technology, value	Broadcom reported strength in its AI business segments during Q4. The company provided positive fiscal year 2024 guidance that included synergy target goals ahead of schedule for the combined businesses following the VMware acquisition.	MELI\|NFLX\|ORCL\|TCOM\|VRTX\|YUMC ALLY	View
2024 Q4	Jan 30, 2025	Aristotle Core Equity Fund	3.9%	26.0%	AAPL, AMZN, AVGO, AVY, CI, COST, CRWD, DAR, GE, GOOGL, GTLS, JPM, MCHP, META, MSFT, NEE, NOW, NVDA, SPR, ZTS	aerospace, AI, cybersecurity, growth, large cap, technology	Broadcom demonstrated continuing strength in its artificial intelligence networking and custom accelerator semiconductor business. The company provided long-term guidance for the service addressable market opportunity for its AI-related business, indicating a market opportunity of $60 billion to $90 billion. CrowdStrike benefits from increasing threats from state-sanctioned cybercriminals using high-performance computing and AI, necessitating higher spending on advanced cybersecurity products.	CRWD GE	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
No pitches found.

BSD Shareholders of SPR

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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