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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | Oct 27, 2025 | Grey Owl Capital | 4.3% | 10.5% | SPX | earnings, Fed policy, inflation, interest rates, P/E Ratio, risk premium, S&P 500, valuation | All Season, Inflation, Capital Preservation | View | |
| 2025 Q4 | Jan 6, 2026 | Horizon Investment | 0.0% | 0.0% | SPX | AI, Capex, Employment, Fed, productivity, rates, small caps | AI capital expenditure buildout is tracking historic investment cycles like railroads and telecommunications, with current cycle still in early innings. AI capex remains sustainable as it's funded by free cash flow rather than debt. The diffusion of AI throughout the economy is expected to drive productivity gains and corporate profitability improvements. Productivity growth is starting to boom as a result of AI and capital investment, approaching levels seen in the 1960s and 1990s. This productivity surge is expected to drive corporate profitability through margin expansion and create better employment conditions over time. Rate cuts are finally helping smaller companies, which could be the catalyst for the much-anticipated broadening out trade. Small businesses are showing spiking hiring plans as uncertainty fades, and nominal GDP growth particularly benefits smaller and cyclical firms. | View | |
| 2025 Q4 | Jan 22, 2026 | UBS Asset Management | 0.0% | 40.0% | CSI, SMI, SPX, STOXX | AI, diversification, Dollar, Energy Transition, equities, Fed, gold, rates | AI trend continues to drive equity performance with global AI revenues expected to grow at 41% compound annual growth rate through 2030. Rising data center demand is pushing US electricity prices higher, spurring record investment in grid infrastructure. Benefits infrastructure, semiconductors, and applications. Gold has rallied strongly year-to-date and remains an effective portfolio diversifier and hedge against political and economic risks. Expected to benefit from lower real interest rates, weaker dollar, robust central bank demand, and investor concerns about rising government debt levels. Energy transition presents significant potential in both public and private markets despite concerns about potential US policy changes. Sustainable investment strategies continue to see attractive long-term growth opportunities. Federal Reserve resumed rate-cutting cycle with first cut since December 2024, signaling resumption of easing. Expected three cuts of 25bps between now and first quarter 2026 as Fed responds to signs of weakness in US labor market. | 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. | ||||||||