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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 19, 2025 | Prosper Stars & Stripes | 9.6% | -0.8% | AGYS, AZTA, EXPO, FTAI, HELE, KRMN, MGNI, PACK, SPHR, TATT, TKNO | alpha, Long/Short, risk control, stock selection, volatility | The letter discusses navigating volatility through disciplined long/short equity exposure amid tariff shocks, recession fears, and rapid market reversals. Management emphasizes risk control, flexible net exposure, and stock selection as drivers of alpha. The approach seeks consistent compounding regardless of market direction. | View | |
| 2025 Q3 | Nov 11, 2025 | Prosper Stars & Stripes | 9.8% | 8.6% | ARX, BRBR, GDYN, KLG, PKE, TATT | cyclicals, earnings, Recovery, small caps, Valuations | The letter emphasizes that small caps are positioned for a multi-year recovery as earnings trends broaden beyond AI-driven megacaps and benefit from monetary easing, fiscal stimulus, and depressed sentiment. The manager argues that small-cap valuations remain highly attractive after an extended underperformance cycle, with improving fundamentals expected in 2026 as earnings recover across cyclical sectors. Policy tailwinds, productivity gains, and stabilization in economic indicators reinforce the case for renewed small-cap leadership. | TATT |
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| 2025 Q4 | Jan 22, 2026 | Wasatch Micro Cap Fund | 1.9% | 4.8% | ADUS, AXGN, BLZE, CLMB, COCO, CSTL, ESQR, EZPW, MAMA, RDVT, SXI, TATT, VECO, VITL | Biotechnology, growth, healthcare, Microcap, profitability, Quality, underperformance | The fund focuses on high-growth, high-quality companies with differentiated business models, avoiding the low-quality market rally that dominated 2025. The managers emphasize companies with strong fundamentals gauged by cash flow and earnings, believing these will ultimately be rewarded as the market returns to favoring profitability. Healthcare sector, particularly biotechnology and pharmaceutical companies in early research and development stages, dominated benchmark returns. The fund had no exposure to this area due to focus on profitable companies, which weighed on relative performance as many biotech companies are years away from turning a profit. | CLMB CSTL MAMA AXGN |
View |
| 2025 Q4 | Jan 21, 2026 | NCG Micro Cap Growth Strategy | 6.4% | 11.9% | AAOI, AGX, AII.TO, ALKT, AMPX, AMSC, ATEC, AVPT, AXGN, BLND, INOD, INTA, PHAT, PL, PSNL, TATT, TCMD, UAMY, UTI | active management, Biotechnology, growth, Microcap, Quality, small caps, underperformance | The firm emphasizes investing in high-quality growth companies with proven business models and sustainable growth drivers. They note that quality factors worked against active managers in 2025, with low-quality stocks significantly outperforming. The S&P 600 Growth Index, which requires profitability and has market cap constraints, returned only 5.4% versus Russell 2000/Microcap Growth at 13% and 22% respectively. Biotech was a significant area of outperformance that the firm avoided, contributing approximately 8 points to the Russell Microcap Growth Index's 21.84% return. The firm maintains low or no exposure to biotech, viewing many business models as unproven despite strong recent performance. This sector constituted almost all of the relative underperformance from their microcap strategy. The firm sees improving conditions for small cap performance, with earnings growth turning positive in 2025 and expected to accelerate in 2026. Small caps historically benefit during Fed rate-cutting cycles and continue to trade at a relative discount to large caps. Combined with an improving fundamental backdrop, they believe there's opportunity for this discount to narrow. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Nov 28, 2025 | Fund Letters | Christopher Hillary | TAT Technologies Ltd. | Industrials | Aerospace & Defense | Bull | NASDAQ | Aerospace, aftermarket, Apus, Defense, growth, MRO, valuation | View Pitch |
| Oct 6, 2025 | Value Investors Club | PZGR39 | TAT Technologies Ltd | Industrials | Aerospace & Defense | — | NYSE | Aerospace, MRO, Honeywell, APUs, Boeing, Airbus | 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 |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||