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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2023 Q3 | Sep 30, 2023 | Fenimore Small Cap Strategy | -4.0% | - | AVY, BIP, BOC, CDW, CIGI, CSV, CTAS, ENTG, ESI, EXPO, IEX, MCHP, MKC, NOMD, PAG, PAYX, ROP, SPSC, THG, TT, TWNK | dividends, Quality, rates, semiconductors, small caps, value | Rising interest rates weighed on the market throughout the quarter, with the Fed raising rates by 0.25% in July and signaling potential additional increases. The Fed's higher for longer stance pressured stocks and created headwinds for companies with significant debt. | View | |
| 2023 Q3 | Sep 30, 2023 | Fenimore Dividend Focus Strategy | -2.6% | - | AVY, BIP, BOC, CDW, CIGI, CTAS, ENTG, ESI, EXPO, IEX, MCHP, MKC, NOMD, PAG, PAYX, ROP, SPSC, THG, TT, TWNK | dividends, mid cap, Quality, rates, semiconductors, value | Rising interest rates weighed on the market in Q3, with the Fed signaling another rate increase possible before year-end. The Fed's target rate ended between 5.25% and 5.5%, the highest since 2001. Higher rates are filtering through the economy with 30-year mortgage rates well over 7%. | View | |
| 2023 Q2 | Jun 30, 2023 | Fenimore Dividend Focus Strategy | 4.7% | - | BOC, CASS, CBZ, CIGI, CSV, DFH, ENTG, EXLS, G, IEX, NOMD, PNFP, SITE, SPSC, SSB, STE, THG, VMC, VRSK, WSO | AI, dividends, industrials, mid cap, Quality, technology, value | Fenimore emphasizes investing in quality stocks with strong financials, stable earnings growth, competitive advantages, solid management, and consistent returns. They believe quality names are the most effective way to protect and grow wealth over the long term, even if they don't beat benchmarks every quarter. | ACGL|APH|COO|CSGP|DKNG|GWRE|IDXX|IOT|IT|LPLA|MSCI|MTD|PCOR|ROP|TECH|VRSK |
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| 2025 Q1 | Apr 15, 2024 | The London Company Small Cap | -7.1% | -7.1% | ACIW, ATKR, CNNE, DV, MC, NGVT, RVLV, THG, UNF | Defensive, Quality, Recession, small caps, tariffs, value | The portfolio maintains a defensive, lower volatility posture focused on Quality factors. Quality factors have historically posted their best relative returns during periods of decelerating growth and through recessions, typically lagging in early recovery but keeping pace during mid-cycle years. | NGVT UNF ATKR RVLV MC DV SGI THG ACIW |
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| 2025 Q1 | Apr 15, 2024 | The London Company Small-Mid Cap | -6.6% | -6.6% | AER, BR, CABO, CACC, CHDN, DECK, SAIA, THG, ZBRA | Defensive, Quality, Recession, SMID Cap, tariffs, value | The manager emphasizes their Quality factor approach, noting that Quality factors have historically posted their best relative returns during periods of decelerating growth and through recessions. They believe they may be late in the economic cycle, which bodes well for Quality factors over the next few years. | SAIA |
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| 2025 Q1 | Mar 31, 2025 | Heartland Value Plus Fund | -8.2% | -8.2% | FCFS, GTES, THG | industrials, insurance, Patience, self-help, small caps, value | The fund focuses on attractively priced, well-managed companies with high-quality balance sheets, low debt, and positive earnings dynamics through their 10 Principles of Value Investing. They seek companies trading at material discounts to historical multiples despite strong fundamentals. | GTES FCFS THG |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Heartland Value Plus Fund | The Hanover Insurance Group, Inc. | Financials | Property & Casualty Insurance | Bull | NYSE | Catastrophic Losses, combined ratio, Dividend Growth, investment portfolio, Property & Casualty Insurance, risk management, turnaround, Value | View Pitch |
| Apr 13, 2026 | Fund Letters | The London Company Small Cap | Hanover Insurance Group, Inc. | Financials | Property & Casualty Insurance | Bull | NYSE | Insurance, margin expansion, Niche Positioning, Property & Casualty Insurance, ROE improvement, underwriting | 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. | ||||||||