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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q1 | May 1, 2025 | Mairs & Power – Small Cap Fund | -11.0% | -11.0% | ALTR, AZEK, BKH, CASY, CGNX, HUBG, JHX, LFUS, LTH, NWE, PLXS, SIEGY, THRM, WK | Automation, small caps, tariffs, Trade Policy, Utilities, valuation | Tariff uncertainty in March caused equity declines while prospects of prolonged trade war with China raise concerns about reigniting inflation and slowing economic growth. Tariffs are viewed as a tax that businesses will likely pass to consumers, creating upward pressure on prices and potential stagflation. | CGNX |
View |
| 2024 Q4 | Dec 31, 2024 | Mairs & Power – Small Cap Fund | - | 7.3% | ALTR, AZEK, CASY, CLFD, CTLT, CVRX, CWAN, DOC, FUL, JBT, KNF, LFUS, LTH, MCS, MGPI, PIPR, PLXS, THRM, TNC, WTFC | financials, industrials, infrastructure, Manufacturing, small caps, value | Small cap stocks trade at a 29% discount to the S&P 500 despite earnings growth estimates outpacing large caps. The fund sees great opportunities in small companies with above-average growth prospects trading at favorable valuations. Management notes potential for small caps to narrow the gap with large caps given less regulation and increased small business confidence. | View | |
| 2024 Q3 | Sep 30, 2024 | Mairs & Power – Small Cap Fund | 0.0% | 9.0% | AZEK, CASY, CFR, CLFD, CTLT, CVRX, DOC, ENTG, JBT, KNF, LTH, MCS, MGPI, PIPR, QCRH, THRM, TNC, TTC, WK, WTFC | banks, Fed, growth, rates, small caps, Valuations | Small cap stocks currently trade at a 29% discount to the broader market and 6% discount to their long-term average, despite analysts expecting small cap earnings growth to outpace large caps. The fund sees great opportunities in small companies with above-average growth prospects at favorable valuations. Lower interest rates should disproportionately benefit smaller companies over time. | View | |
| 2023 Q2 | Jun 30, 2023 | Mairs & Power – Small Cap Fund | 0.0% | 9.0% | ALTR, ASB, AZEK, CFR, CLFD, ENTG, ENV, FIBK, GBCI, JAMF, LFUS, NVT, THRM, TTC | AI, Banking, healthcare, industrials, small caps, technology, Valuations | The manager discusses artificial intelligence as a key driver of Technology sector performance, noting investor excitement over AI has boosted large tech names like Alphabet, Amazon, Microsoft, and Nvidia. They maintain a favorable long-term view on Technology given growth in AI, automation, and cloud computing but are cautious near-term due to over-extended valuations. | View | |
| 2023 Q4 | Jan 28, 2024 | Mairs & Power – Small Cap Fund | 0.0% | 9.0% | AIR, ALTR, AZEK, CFR, CLFD, DGII, ENTG, INSP, JAMF, KNF, NVT, PIPR, SNBR, THRM | financials, healthcare, industrials, infrastructure, small cap, technology, value | Industrial companies are positioned to benefit from significant multi-year state and federal government infrastructure projects which will likely play out in the coming decade. Knife River is viewed as ideally positioned to address multiple significant state and federal infrastructure stimulus programs spanning many years. | 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 |
|---|---|---|---|---|---|---|---|---|
| Israel Englander | Millennium Management LLC | $233.2B | $1.1M | 0.00% | 30,964 | +16,965 | +121.19% | 0.1201% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $1.1M | 0.00% | 31,082 | +31,082 | +100.00% | 0.1205% |
| Cliff Asness | AQR Capital Management | $190.6B | $3.9M | 0.00% | 107,755 | -1,955 | -1.78% | 0.4179% |
| Mario Gabelli | GAMCO Investors | $10.4B | $309,145 | 0.00% | 8,500 | +500 | +6.25% | 0.0330% |
| Cory Martin | Barrow, Hanley, Mewhinney & Strauss | $30.0B | $34.2M | 0.11% | 940,222 | -69,002 | -6.84% | 3.6460% |