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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 22, 2025 | Aristotle Small Cap Equity Fund | 3.3% | - | ACIW, AEIS, ALIT, BHLB, CHE, CMCO, DY, FLS, GRDN, HURN, IPAR, ITRI, JBGS, LQDT, MMSI, MNRO, MTSI, SMG, TKO, VRRM | growth, healthcare, industrials, small caps, technology, Telecommunications, value | Valuations remain compelling relative to large caps, with the Russell 2000 Index trading near multi-decade lows on a relative basis. Potential tailwinds include deregulation, lower corporate tax rate, increased M&A activity, continued reshoring of U.S. manufacturing, and infrastructure-related spending. | VRRM SMG IPAR GRDN FLS ALIT ACIW CHE MTSI DY CHE |
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| 2024 Q1 | Jun 7, 2024 | Lindsell Train | 2.9% | 9.3% | 4503.T, PEP, TKO | Compounding, long-term, Patience, Quality, turnover | The fund focuses on high-returning businesses that compound earnings and dividends at above-market rates. Their portfolio companies have sustained an internal rate of compounding at nearly double the rate of the average company, with dividends per share compounding at approximately 11% versus the wider market average of 6%. | TKO 4503.T PEP |
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| 2025 Q2 | Jun 30, 2025 | Cooper Investors Global Equities Fund (Unhedged) | 5.2% | - | BME.L, CDW, G24.DE, PSK.TO, TKO | energy, Global Equities, Media, royalties, technology, value creation | TKO Holdings owns UFC and WWE combat sports content assets, showing strong growth with UFC and WWE EBITDA growing 17% and 38% respectively. The company is expanding revenue through site fees by festivalizing events across multiple days, demonstrating economic value to cities. | PSK.TO TKO G24.DE CDW BME LN TKO G24 GR |
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| 2025 Q4 | Feb 4, 2026 | Cooper Investors Global Equities Fund (Unhedged) | -3.3% | 2.6% | 4478.T, FWONK, RYAN, TKO, TSM | Global Equities, growth, semiconductors, Sports Content, technology, value | TKO Holdings owns UFC and WWE content assets, benefiting from increased demand for sports media rights from streaming platforms. The company has renewed major media deals at rates well above previous agreements and continues growing sponsorship business. Boxing venture Zuffa represents significant long-term opportunity given boxing's broader appeal compared to UFC. TSMC maintains near-monopoly position in leading-edge chip manufacturing, benefiting from AI-driven demand and increasing semiconductor complexity. The company has delivered 30% annual EPS growth over recent years with investment returns exceeding 36% annually. Expected earnings growth in low-20% range not captured in current share price. | 4478 JP RYAN TSM TKO |
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| 2024 Q3 | Oct 20, 2024 | Lindsell Train | 2.9% | 9.3% | ADBE, AXP, DIS, EFX, EL, FICO, GOOGL, INTU, ORCL, PYPL, SPGI, TKO, TROW, V | Asset Management, Concentration, dividends, financials, technology, value | T. Rowe Price represents the only asset manager holding in the portfolio, facing industry headwinds from the shift to passive investing and fee pressures. Despite these challenges, the manager believes T. Rowe's scale, brand strength, and US equity expertise position it well for long-term resilience and potential double-digit shareholder returns. | TROW |
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| 2025 Q3 | Oct 14, 2025 | Cooper Investors Global Equities Fund (Unhedged) | 0.0% | - | BME.L, BSY, CME, G24.DE, GEHC, TKO | Exchanges, global, healthcare, Media, retail, technology | TKO Holdings owns UFC and WWE, benefiting from increased demand for sports media rights from traditional broadcasters and streaming platforms. The company renewed its most important US UFC media deal with Paramount+ for seven years at $7.7 billion annually, more than doubling the current ESPN deal. This increased exposure will drive sponsorship value and grow the fanbase. | TKO G24 CME |
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| 2025 Q3 | Oct 12, 2025 | Munro Global Growth Fund | 4.9% | - | 300750.SZ, AMZN, ARES, AVGO, BSX, CLS.TO, CRH, FWONA, GEV, GOOGL, ISRG, LLY, META, MSFT, NFLX, NVDA, ORCL, TKO, TSM, UBER | AI, Cloud, Energy Storage, growth, technology | AI adoption is showing clear signs among corporates globally, with the Magnificent 7 demonstrating significant operational efficiencies through reduced hiring. Oracle's massive backlog demonstrates insatiable demand for AI computing infrastructure, with companies like OpenAI committing to multi-billion dollar contracts. The AI spending roadmap is expected to continue over the medium term with clear return on investment from billions in capex. | ORCL |
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| 2025 Q4 | Jan 27, 2026 | Diamond Hill Small Cap Fund | 4.9% | 11.9% | ALGT, ARE, CIVI, CSR, MVBF, ODC, OZK, POST, RKT, SM, TFIN, TKO, TRNS, WCC | defense, industrials, infrastructure, real estate, Resilience, small cap, value, volatility | The manager emphasizes focusing on resilient businesses that can navigate ongoing uncertainty and take advantage of market volatility. They seek companies built with the ability to endure through uncertainty while capitalizing on opportunities. This resilience theme is central to their investment approach in the current volatile environment. The portfolio has exposure to industrial infrastructure which has been neglected from an investment standpoint over the previous decade. The manager sees opportunity in businesses with exposure to industrial infrastructure as a key area of focus. This represents a structural investment theme they are pursuing. Defense modernization is identified as one of the key areas where the manager continues to see opportunity. This sector has been neglected from an investment standpoint over the previous decade, creating potential opportunities for the portfolio. The manager views defense modernization as having structural growth drivers. The manager has exposure to critical materials as an area that has been neglected from an investment standpoint over the previous decade. They continue to see opportunity in businesses with exposure to critical materials. This includes holdings like Taseko Mines, a copper mining company that benefited from rising copper prices. The manager has increasingly been finding opportunities within the real estate sector as of late. They initiated positions in apartment REIT Centerspace and life-sciences real estate company Alexandria Real Estate Equities. The real estate sector represents a growing area of opportunity for the portfolio. | ARE |
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| 2025 Q4 | Jan 12, 2026 | ClearBridge Investment Growth Strategy | - | - | ALNY, AVGO, DLB, DOCS, ELF, FCX, HLT, HOOD, MSGE, MSGS, ODFL, ONON, SHOP, TEL, TJX, TKO, UNH, VRTX, VST, XPO | AI, balance, growth, innovation, semiconductors, technology, volatility | The letter outlines a balanced growth approach combining participation in AI-driven momentum with downside protection through diversified stock selection. Emphasis is placed on companies with durable fundamentals, innovation-led growth, and disciplined capital allocation. Growth investing is positioned as increasingly selective amid heightened volatility and dispersion. | ELF SHOP |
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| 2024 Q3 | Sep 30, 2024 | Cooper Investors Global Equities Fund (Unhedged) | 5.5% | 5.4% | BKNG, ERF.PA, FYBR, GOOGL, LSEG.L, NFLX, RSG, RTO.L, TKO, V, VZ | Global Equities, healthcare, long-term, Media, Quality, Telecommunications, Value Investing | Frontier Communications is converting its legacy copper network into future-proof fibre infrastructure. The completed network is likely to produce highly resilient cash flows which may be worth multiples of the company's current market value. Frontier began its multi-billion dollar network upgrade in 2021 and is expected to complete the build in mid-2026. | View | |
| 2023 Q3 | Sep 30, 2023 | Baron Opportunity Fund | 4.0% | 25.1% | AMZN, ARGX, CRWD, CSGP, DDOG, DT, EA, GTLB, INDI, IT, LEGN, META, MSFT, NET, NOW, NVDA, RVAN, TKO, TSLA, V | AI, Biotechnology, Cloud, growth, innovation, large cap, secular trends, technology | The fund emphasizes artificial intelligence as a generational shift driving demand for data center chips and accelerated computing. NVIDIA is positioned at the epicenter of this new computing era, with the transition from general purpose to accelerated computing creating tremendous demand across industries. The fund views AI as part of a broader technology stack from semiconductors to applications. | View | |
| 2024 Q2 | Jul 25, 2024 | East72 Dynasty Trust | 6.3% | 0.0% | AAPL, AVOL.SW, BVB.DE, CCP.L, CZR, DKNG, ENT.L, FLTR.L, FWONK, GENI, JUVE, MANU, MGM, MSFT, PENN, SCHL, SRAD, TKO, TSLA, WLY | discount, Europe, Holding Companies, Media Rights, Sports Analytics, technology, Travel Retail, value | The fund maintains significant exposure to European holding companies, particularly the Bolloré galaxy of companies including Compagnie de L'Odet, Bolloré, Vivendi, and Lagardère. These companies trade at substantial discounts to NAV despite strong underlying assets like Universal Music Group and cash holdings. | CAT.AX MMB.PA VIV.PA BOL.PA CDI.PA |
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| 2023 Q2 | Jul 15, 2023 | Merion Road Capital | 5.4% | 11.2% | CIR, DSGR, EDR, TKO | Distribution, Entertainment, Industrial, M&A, small caps, value | Manager invested in Endeavor Group Holdings which owns UFC and is merging with WWE to form TKO Group Holdings. Believes live sports value will continue to grow and sees early innings for UFC growth with potential for improved WWE monetization. | DSGR EDR |
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| 2024 Q2 | Jun 30, 2024 | RS Large Cap Val Strategy | 1.0% | 13.9% | APH, CI, CPAY, CRM, GOOGL, GS, LKQ, PCAR, TEVA, TKO, VST | financials, healthcare, large cap, ROIC, value | The team focuses on investing in companies trading at deep discounts to intrinsic value with improving ROIC. They believe value-oriented approaches should be well positioned following years of low interest rates driving growth stock valuations higher. | CPAY TEVA |
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| 2024 Q2 | Jun 30, 2024 | Lindsell Train | 2.9% | 9.3% | ADBE, AXP, DIS, EFX, EL, FICO, GOOGL, INTU, NKE, ORCL, PYPL, SPGI, TKO, V, VRSK | AI, Athleisure, Concentration, consumer discretionary, large cap, North America, technology, valuation | Adobe's AI capabilities are expanding their addressable market by bringing in more users while upselling existing ones. The company has been able to monetize its AI investments, which is only possible for businesses with differentiated products and genuine moats. Adobe credits AI with assisting and amplifying human ingenuity and enhancing productivity. | NKE ADBE |
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| 2025 Q1 | Mar 31, 2025 | Cooper Investors Global Equities Fund (Unhedged) | 0.9% | 0.9% | BME.L, FWONK, FYBR, LSEG.L, RYAN, SONY, TKO, TSM, UMG.AS, WMG | Customer, equities, Focus, gaming, global, Music, semiconductors | The fund established a position in Universal Music Group, viewing the music industry as undergoing a monetization cycle after streaming subscriber growth slowed. Music assets have high cultural relevance and enduring value, with streaming creating a subscription model that improved monetization significantly. The industry is positioned for pricing power as penetration matures in developed markets. | UMG.AS |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 14, 2026 | Fund Letters | The Davenport Core Leaders Fund | TKO Group Holdings Inc | Entertainment | Entertainment | Bull | New York Stock Exchange | AI-Resistant, Combat Sports, Contractual Revenue, entertainment, live events, Media rights, Premium Content, UFC, WWE | View Pitch |
| Apr 13, 2026 | Fund Letters | Cooper Investors Global Equities Fund (Unhedged) | TKO Group Holdings Inc | Communication Services | Entertainment | Bull | NYSE | Combat Sports, Content Platform, entertainment, high-margin business, live events, Media rights, Site Fees, UFC, WWE | View Pitch |
| Apr 13, 2026 | Fund Letters | Lindsell Train | TKO Group Holdings | Communication Services | Entertainment | Bull | NYSE | Content Creation, entertainment, live events, Long-Term Compounding, merger, Sports Media, Volatility | View Pitch |
| Feb 21, 2026 | Fund Letters | Peter Cooper | TKO Group Holdings Inc | Communication Services | Movies & Entertainment | Bull | New York Stock Exchange | Content, media, monetization, Sports-rights, Streaming | View Pitch |
| Dec 6, 2025 | Fund Letters | Steve Johnson | TKO Group Holdings, Inc. | Communication Services | Entertainment | Bull | NYSE | Content, media, rights, sports, synergies | View Pitch |
| Dec 5, 2025 | Fund Letters | Peter Cooper | TKO Group Holdings, Inc. | Communication Services | Movies & Entertainment | Bull | NYSE | Events, media, Monetisation, rights, sports | View Pitch |
| Nov 29, 2025 | Fund Letters | Peter Cooper | TKO Group Holdings Inc. | Communication Services | Media & Entertainment | Bull | NYSE | Distribution, Flywheel, live events, Sponsorships, Sports-rights, Streaming | View Pitch |
| Oct 23, 2025 | Value Investors Club | washwizards | TKO Group Holdings Inc. | Communication Services | Movies & Entertainment | Bull | NYSE | Combat Entertainment, Sports Media Rights, Streaming Bidding Wars | View Pitch |
| Aug 8, 2025 | Seeking Alpha | Taha Gondal | TKO Group | Communication Services | Entertainment | 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 |
|---|---|---|---|---|---|---|---|---|
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $334,400 | 0.00% | 1,600 | -1,200 | -42.86% | 0.0019% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $3.5M | 0.00% | 16,600 | -63,400 | -79.25% | 0.0198% |
| Nick Train | Lindsell Train Ltd | $3.9B | $589.4M | 14.95% | 2,820,204 | -134,500 | -4.55% | 3.3648% |
| Ray Dalio | Bridgewater Associates | $27.4B | $2.8M | 0.01% | 13,198 | -8,672 | -39.65% | 0.0157% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $3.4M | 0.00% | 16,379 | +1,449 | +9.71% | 0.0195% |
| Israel Englander | Millennium Management LLC | $233.2B | $21.7M | 0.01% | 103,945 | -200 | -4.76% | 0.1240% |
| Terrence Murphy | Clearbridge Investments | $124.9B | $273.1M | 0.22% | 1,306,874 | -93,557 | -6.68% | 1.5592% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $16.5M | 0.02% | 78,801 | -216,492 | -73.31% | 0.0940% |
| Cliff Asness | AQR Capital Management | $190.6B | $1.2M | 0.00% | 5,973 | +1,625 | +37.37% | 0.0071% |
| Bruce Kovner | Caxton Associates | $3.2B | $869,145 | 0.03% | 6,116 | -2,568 | -29.57% | 0.0050% |
| Mario Gabelli | GAMCO Investors | $10.4B | $4.4M | 0.04% | 21,000 | +0 | +0.00% | 0.0251% |
| Bret Barakett | Tremblant Capital | $3.9B | $133.9M | 3.42% | 640,684 | +391,198 | +156.80% | 0.7644% |
| George Soros | Soros Fund Management | $6.8B | $132.8M | 1.96% | 635,583 | +15,576 | +2.51% | 0.7583% |
| Rich Handler | Jefferies | $19.3B | $17.0M | 0.09% | 81,237 | +81,237 | +100.00% | 0.0969% |