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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | Apr 15, 2024 | Ariel Global Fund | 6.9% | 0.0% | 033780.KS, 7270.T, 7832.T, ADM.L, APTV, BIDU, COF, CVS, DOX, DTG.DE, DVA, ELE.MC, INTC, JD, MUV2.DE, NESN.SW, PM, SIE.DE, SRG.MI, STLA, TDC | Automotive, global, healthcare, long-term, technology, undervalued, value | Artificial intelligence is driving investor enthusiasm and market performance. Companies like Baidu are investing heavily in AI with their Ernie Bot launch, while Capital One is rated as a leading bank in AI implementation. | View | |
| 2025 Q4 | Jan 18, 2026 | Distillate Capital Fundamental Stability & Value | 0.0% | 0.0% | BMY, CAH, CSCO, ELV, FFIV, FI, GPS, HCA, JBHT, JNJ, LOW, MO, MPC, MRK, REGN, TDC, TEL, TMUS, UBER, VST | free cash flow, fundamentals, international, Quality, rebalancing, small caps, valuation, value | The firm emphasizes systematic value investing through their proprietary free cash flow valuation methodology. They focus on stocks trading at attractive valuations while avoiding richly valued names, with their U.S. FSV strategy trading at more than double the free cash flow yield of the S&P 500. The strategy systematically rotates out of names that have increased in value and reinvests into less expensive stocks. The firm filters for high quality companies with stable cash flows and low debt levels. Their investment process excludes negative free cash flow companies and avoids those with high amounts of leverage while seeking fundamental stability. This quality focus has historically been smart but was a drag on returns in 2025 as unprofitable stocks outperformed significantly. The firm sees significant opportunity in small and mid-sized U.S. stocks, though selectivity is critical given the large number of unprofitable and heavily-indebted companies. Their small/mid strategy filters out negative free cash flow companies and high leverage names. The S&P 600 excludes many troubled names and has considerably outperformed the Russell 2000 over time. | View | |
| 2025 Q4 | Jan 18, 2026 | Distillate Capital Small/Mid Cap Quality & Value | 0.0% | 0.0% | BMY, CAH, CSCO, ELV, FFIV, FI, GPS, HCA, JBHT, JNJ, LOW, MO, MPC, MRK, REGN, TDC, TEL, TMUS, UBER, VST | free cash flow, fundamentals, Quality, rebalancing, small cap, valuation, value | The letter extensively discusses valuation concerns across markets, highlighting that U.S. equities are historically expensive and trading at levels typically associated with subdued future returns. The firm's strategies focus on finding attractively valued stocks where quality and value overlap, with their portfolios trading at significant discounts to benchmarks. Quality is a core focus of the firm's investment process, emphasizing cash flow stability and avoiding highly leveraged or unprofitable companies. The letter discusses how their strategies systematically filter out negative free cash flow companies and those with high debt levels while seeking fundamental stability. The letter identifies significant opportunities in small and mid-sized U.S. stocks, noting that avoiding high debt levels and money-losing businesses has historically been smart but was a drag on returns in 2025. The firm sees this as creating attractive entry points for quality small cap investing. | View | |
| 2025 Q1 | Mar 31, 2025 | Ariel Global Fund | 6.3% | 6.3% | 0002.HK, 2474.TW, 7832.T, AQN, BAC, BBNI.JK, BIDU, CHKP, CVS, DVA, ELE.MC, ISP.MI, LEN, NTAP, OC, TDC, TSM | AI, financials, global, tariffs, value, volatility | Ariel's non-consensus approach seeks to identify undervalued, out-of-favor franchises that are misunderstood and therefore mispriced. The fund's international and global holdings currently trade at compelling valuations relative to their growth prospects, while maintaining the financial strength needed for operational resilience. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Aug 13, 2025 | Seeking Alpha | Ahan Analytics | Teradata Corporation | Information Technology | Software - Infrastructure | Bull | NYSE | — | 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. | ||||||||