TPR

TPR

TPR

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q2	Jul 23, 2024	Pelican Bay Capital Management	-6.3%	0.8%	ALB, BLDR, CPAY, CPRI, CVS, EXPE, FANG, FIS, GNW, GOOG, TOLL, TPR, ULTA	Concentration, Homebuilders, Quality, retail, technology, value	The fund employs a concentrated value strategy seeking high-quality companies trading at steep discounts to intrinsic value. Portfolio companies have higher operating margins and returns on invested capital than the index while trading at 13.5x forward P/E versus 16.3x for Russell 1000 Value. The manager believes these higher-quality companies should trade at a premium to the market over time.	ULTA	View
2024 Q1	Apr 25, 2024	Pelican Bay Capital Management	7.6%	7.6%	BLDR, BRK-B, CBOE, CPRI, EOG, EXPE, FANG, FIS, Gold, GOOG, ON, RSG, TOL, TPR, VZ	Concentration, energy, gold, Homebuilders, Quality, value	Homebuilders have become less financially leveraged and cyclical, mitigating past concerns about rising interest rates. The manager believes investors are recognizing this shift and starting to value homebuilders based on price-to-earnings ratios rather than historical price-to-book metrics. Recent relative strength of homebuilders has lots of runway left.	Gold	View
2024 Q1	Apr 20, 2024	Cedar Grove Capital Management	21.0%	0.0%	AAPL, ACI, BAC, CCJ, CPRI, DJT, FVRR, IRBT, LULU, MTCH, ONON, OXY, PTON, RH, SAVE, TPR	arbitrage, Consolidation, Frontrunning, portfolio, rates, risk management, Speculation	Manager notes AI taking front-row seat despite most companies not understanding how to use it beyond buzzwords and chatbots. Expects capital investment to taper off, ending parabolic growth in semiconductor names.		View
2024 Q4	Dec 31, 2024	Riverwater Sustainable Value Strategy	-	-	ATKR, COOP, CPRI, CRL, CROX, DAR, EVR, EXEL, IDCC, LMNR, MOD, NCMI, TPR, VLO	consumer, energy, financials, healthcare, small caps, technology, value	Strong growth in data centers drove significant outperformance in Modine Manufacturing. Most forecasts predict a doubling of data center demand by 2030, with the manager noting this trend shows no signs of slowing.	EXEL NCMI DAR COOP	View
2024 Q4	Dec 31, 2024	Hourglass Capital	-	5.1%	ABBV, CPRI, DAL, TPR	Fed policy, Government Spending, inflation, Market Sentiment, Trade Policy, valuation, value	Manager maintains value investing discipline despite market focus on growth at any price. Exited Delta Airlines and AbbVie at fair value estimates while adding to underperforming positions with significant promise relative to full value calculations.	CPRI	View
2023 Q3	Oct 24, 2023	Pelican Bay Capital Management	2.7%	14.6%	CPRI, FANG, GNRC, GOOGL, PSX, PXD, TPR, VZ, XOM	buyouts, Concentration, dividends, energy, oil, Quality, value	Oil prices rose 32% in Q3 as global demand runs 1-2 million barrels per day ahead of supply, reaching record highs of 103 million barrels per day in July. Years of underinvestment outside US shale and prolonged OPEC production cuts have created supply constraints. The manager believes oil prices could continue rising given multi-year timeframes needed for new supplies and environmental policies constraining investment.	PXD DIPSX FANG BVZN SW GNRC CPRI	View
2025 Q3	Oct 21, 2025	Renaissance Investment Management – Large Cap Growth	-	-	AAPL, ANET, APP, CTAS, FI, FIX, GOOGL, INTU, IT, NFLX, TPR, TW	AI, Data centers, earnings, Fed policy, growth, large cap, Luxury, technology	Data-driven improvements are powering exponential increases in data accumulation integral to AI model development and refinement at companies like AppLovin. Despite increasing AI investments, Alphabet has demonstrated the ability to monetize AI applications. There are increasing concerns about Generative AI potentially disintermediating the value of proprietary technology research.		View
2024 Q4	Jan 22, 2025	Pelican Bay Capital Management	-5.5%	6.6%	CBOE, CPRI, CSCO, EXPE, GNRC, GOOG, KNSL, MU, TPR, ULTA	AI, Concentration, insurance, Quality, semiconductors, technology, value	Artificial intelligence is driving demand for High Bandwidth Memory (HBM), with market projections suggesting HBM demand could surge to over $100 billion by 2028 from $16 billion in 2024. AI agents require specialized memory systems, positioning companies like Micron as technological leaders in this space.	KNSL MU	View
2025 Q4	Jan 21, 2026	Renaissance Investment Management – Large Cap Growth	0.0%	0.0%	AMAT, BRO, BSX, CAH, FISV, FIX, GOOGL, LRCX, MSI, NFLX, NTNX, PEGA, RCL, SCHW, TPR, UBER, WM	AI, Equal Weight, growth, large cap, Mega Cap, semiconductors, technology, valuation	AI remains a key driver with mega-cap technology stocks leading market performance. Alphabet released Gemini 3 with performance exceeding expectations, making it the top-performing AI model, and unveiled new Tensor Processing Units for lower-cost AI computations. Applied Materials benefits from strong demand for AI semiconductor chipsets. Semiconductor equipment companies like Lam Research and Applied Materials are benefiting from secular tailwinds including transition to larger chip sizes and increased complexity in chip manufacturing to accommodate AI applications. The CHIPS Act provides federal stimulus supporting the sector. Market valuations have risen significantly with the cap-weighted S&P 500 P/E rising almost 60% over three years versus 30% for equal-weighted. The extreme valuation difference between mega-cap and equal-weighted stocks suggests better relative performance going forward from equal-weighted strategies.	NFLX AMAT GOOG	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
No pitches found.

BSD Shareholders of TPR

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

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.

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