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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 21, 2025 | AMG Frontier Small Cap Growth Fund | 13.9% | -2.5% | LTH, ODD, SIMO, STRL | AI Adoption, earnings recovery, infrastructure, innovation, Small Cap Growth | The letter discusses small-cap growth recovery as tariffs ease and earnings visibility improves. Management highlights AI adoption, infrastructure spending, and new product cycles as catalysts for revenue acceleration. The outlook supports selective growth exposure with improving profitability. | SAIA ODD STRL LTH INDI SIMO ATI PGY |
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| 2025 Q2 | Jul 22, 2025 | Alger Weatherbie Specialized Growth Fund | 11.6% | -5.2% | ACAD, NEO, NEOG, RXO, STRL, UPST | Compounding, earnings, growth, innovation, Resilience | The letter focuses on companies with durable growth profiles benefiting from secular innovation, strong balance sheets, and expanding end markets. Management highlights disciplined stock selection amid market volatility, emphasizing earnings resilience and long-term compounding rather than short-term macro noise. Growth opportunities are framed around companies capable of sustaining above-average revenue and cash flow expansion. | NEO RXO NEOG ACAD UPST STRL |
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| 2025 Q4 | Feb 3, 2026 | Fidelity Growth Strategies Fund | -3.4% | 12.6% | ALNY, ATI, AXON, BROS, COHR, COR, DXCM, FICO, FIX, HLT, HOOD, HWM, IDXX, LITE, LVS, NET, RBLX, RCL, ROAD, STRL | aerospace, AI, growth, industrials, mid cap, technology | The fund benefited from AI infrastructure investment driving demand for optical components and semiconductors. Coherent saw surge in demand for products in advanced semiconductor manufacturing due to AI infrastructure spending. The broader market was supported by ongoing boom in artificial intelligence spending. Strong positioning in aerospace and defense components through ATI and Howmet Aerospace holdings. ATI designs and manufactures components for aerospace and defense firms representing two-thirds of its business, with strong earnings growth projected for 2025 and Q1 2026. | IDXX AXON LITE ATI COHR |
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| 2025 Q4 | Feb 17, 2026 | AMG GW&K Small Cap Core Fund | 3.5% | 7.2% | AEIS, AGIO, CIFR, CSWI, CVLT, DAVA, DSGX, FLYW, GMED, HUT, INTA, ITT, MTSI, PAR, QBTS, RARE, RBC, SATS, SF, SKY, SLG, SPXC, STRL, SUPN, THR, VIAV, WULF | healthcare, industrials, materials, Quality, small caps, technology, Trade Policy, value | The Russell 2000 Index delivered 12.8% returns for 2025 despite significant volatility, with a 23% drop by April followed by a 40% recovery. The small cap environment was characterized by narrow performance driven by low-quality, speculative stocks, with the top 25 contributors delivering over 50% of benchmark returns. The investment environment overwhelmingly favored lower quality stocks, with non-earners gaining 19.6%, negative equity stocks up 37.2%, and highest beta names advancing 26.1%. The fund's deliberate focus on higher-quality stocks with earnings support was a general headwind throughout the year. Artificial intelligence investment was a key area of market focus during 2025, though the fund questioned when investors would see returns from billions of dollars spent on AI infrastructure. The fund avoided speculative AI plays in favor of companies with more established fundamentals. Uncertain trade policy and the friction it added to the system was the biggest distraction during 2025. Companies now mostly have a sense of the rules of global trade and are adjusting, which could provide more stability going forward. | View | |
| 2025 Q3 | Oct 20, 2025 | Invesco Discovery Fund | 7.9% | 11.0% | AEIS, CLS, LSCC, PAR, PRIM, QTWO, STRL, TTMI, TXRH | Artificial Intelligence, Growth Investing, industrials, infrastructure, semiconductors | The fund focuses on industrial renewal and AI-driven innovation as key growth themes, with positions in semiconductor capital equipment and electronic manufacturing. Companies like Lattice Semiconductor and TTM Technologies are seen as beneficiaries of AI infrastructure spending. Managers remain constructive on U.S. growth and continue emphasizing premier small-cap compounders in technology and industrials. | View | |
| 2025 Q4 | Jan 28, 2026 | Rodrigo Benedetti | 0.0% | 0.0% | ARKK, CLS, KITS.TO, MSFT, NBIS, ORCL, QQQ, QURE, REGN, SLNO, SPY, STRL, TEVA, TGEN, TSSI, TWST, VRT, XOP | AI, Biotechnology, commodities, Fintech, gold, healthcare, oil | Manager observes precious metals experiencing massive bubble-like moves with gold and silver going through blow-off tops. Believes there is no fundamental reason for this rally and compares moves to the 1970s when US abandoned gold standard. AI companies, particularly neoclouds, corrected 50% but are showing signs of life again. Manager previously shorted low quality AI names trading on high multiples but closed positions when momentum couldn't be fought. Oil equities have diverged from oil prices with E&P, OFS and Majors underperforming. Manager notes well-supplied market and Chinese demand reduction while they add to strategic reserves. Mixed results in biotech with FDA walking back QURE approval after mixed data causing roundtrip of profits. Healthcare sector performed well with TEVA and REGN benefiting from immunity to tariffs and AI disruption. Excited about Figure Technologies at crossroads of blockchain and electronic HELOC securitization. Company provides bridge for stablecoin yield investment and operates marketplace for on-chain loan investment with fraud-resistant electronic system. | EMO CN KITS CN |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 25, 2026 | Seeking Alpha | Seeking Alpha | Sterling Infrastructure, Inc. | Construction and Engineering | Infrastructure Construction | Bull | NASDAQ Stock Market | acquisition, AI bubble, data centers, E-infrastructure, EPS growth, Government Spending, growth prospects, P/E ratio, Sterling Infrastructure, transportation solutions | View Pitch |
| Dec 3, 2025 | Fund Letters | James A.Colgan | Sterling Infrastructure, Inc. | Industrials | Construction Machinery & Heavy Trucks | Bull | NASDAQ | backlog, construction, datacenters, infrastructure, Margins, Onshoring | View Pitch |
| Dec 3, 2025 | Fund Letters | H. George Dai | Sterling Infrastructure, Inc. | Industrials | Construction & Engineering | Bull | NASDAQ | backlog, construction, Cyclical, datacenters, infrastructure | View Pitch |
| Oct 29, 2025 | Seeking Alpha | Seeking Alpha | Sterling Infrastructure, Inc. | Engineering & Construction | Bull | bullish outlook, data center demand, E-infrastructure, EPS guidance, growth strategy, Market expansion, Sterling Infrastructure, Transportation | View Pitch | ||
| Oct 23, 2025 | Value Investors Club | althea | Sterling Infrastructure, Inc. | Industrials | Construction & Engineering | Bear | NYSE | Chips, Consensus risk, data centers, Multiple compression | View Pitch |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $8.1M | 0.02% | 26,348 | -18,900 | -71.05% | 0.0647% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $6.9M | 0.01% | 22,387 | +22,387 | +100.00% | 0.0549% |
| Ray Dalio | Bridgewater Associates | $27.4B | $13.5M | 0.05% | 43,953 | +13,988 | +46.68% | 0.1079% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $1.0M | 0.00% | 3,416 | +3,416 | +100.00% | 0.0084% |
| Israel Englander | Millennium Management LLC | $233.2B | $74.7M | 0.03% | 243,795 | +240,136 | +6562.89% | 0.5983% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $34.0M | 0.05% | 111,178 | +76,226 | +218.09% | 0.2729% |
| Cliff Asness | AQR Capital Management | $190.6B | $23.5M | 0.01% | 76,604 | -225 | -0.29% | 0.1880% |
| Rich Handler | Jefferies | $19.3B | $652,270 | 0.00% | 2,130 | +2,130 | +100.00% | 0.0052% |