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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | May 13, 2024 | The London Company Small Cap | 7.0% | 8.9% | AWI, CABO, CERT, DOOR, MATX, MBUU, QLYS, TPX, VNT | AI, industrials, Quality, rates, small caps, technology, value | The portfolio's Quality orientation continued to stand out in the small cap space where earnings weakness was more pervasive. Strong balance sheets of portfolio companies, many with net cash, remained a significant advantage in the high rate environment. The manager seeks profitable, financially stable companies that consistently generate free cash flow and high returns on unleveraged operating capital. | CERT QLYS CABO AWI VNT |
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| 2023 Q3 | Oct 31, 2023 | The London Company Small Cap | 7.0% | 8.9% | AWI, CABO, ENOV, LANC, NEU, NGVT, QLYS, TPX | Buybacks, dividends, Quality, small caps, technology, value | The portfolio emphasizes companies with sustainably high returns on capital and lower leverage ratios. The Quality tilt aided relative performance as numerous unprofitable companies in the Russell 2000 significantly underperformed. The companies generate sustainably high returns on capital with low leverage ratios at reasonable valuations. | NGVT ELANCO ENOV QLYS TPX |
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| 2024 Q4 | Jan 7, 2025 | The London Company Small Cap | 2.3% | 11.4% | ACIW, AUB, AWI, EPRT, LSTR, MATX, MC, RVLV, TPX, WTM | concentrated, downside protection, Quality, small caps, value | The fund focuses on high-quality companies with sustainably high and improving returns on capital and strong balance sheets. Portfolio companies demonstrate superior financial metrics with 13.5% pre-tax ROC versus 6.2% for the Russell 2000 and lower leverage at 1.5x net debt/EBITDA versus 3.8x for the benchmark. | View | |
| 2024 Q2 | Jul 22, 2024 | The London Company Small Cap | 7.0% | 8.9% | ACIW, AUB, CERT, CNNE, DOOR, DV, ENOV, EPRT, GTES, HAE, MATX, MBUU, MRTN, MUSA, NEU, PLUS, TPX | downside protection, free cash flow, Quality, Russell 2000, small caps, value | The portfolio focuses on small-cap equities with emphasis on quality, low volatility, and downside protection. The Russell 2000 Small Cap Index declined 3.3% during the quarter while the portfolio fell 5.8%. The manager notes that small caps faced headwinds as investors favored large cap, growth and momentum factors. | DV GTES |
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| 2023 Q1 | Apr 20, 2023 | The London Company Small Cap | 7.0% | 8.9% | AQUA, ENOV, IAA, LIVN, MUSA, PAG, RBA, TPX, VNT, WTM, XYL | Banking, healthcare, Quality, small caps, technology, value | The manager emphasizes their focus on durable profitability, strong free cash flow and balance sheet flexibility as key advantages in a higher cost of capital environment. They believe the quality of their portfolios provides a tangible advantage in an unpredictable world with greater economic volatility. | ENOV AER|AWI|MUSA|NEU|SAIA|WTM AER|AWI|MUSA|NEU|SAIA|WTM LIVN TPX AVNT |
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| 2023 Q4 | Jan 23, 2024 | The London Company Small Cap | 7.0% | 8.9% | AUB, AWI, CABO, DOOR, LIVN, MUSA, PLUS, QLYS, RVLV, TPX, WTM | Banking, industrials, Quality, small cap, technology, value | The portfolio maintains a positive tilt toward Quality factors, focusing on companies with sustainably high returns on capital and balance sheet strength. This Quality-orientation provided relative advantage for the full year despite being a headwind in Q4. | RVLV PLUS |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | The London Company Small Cap | Tempur Sealy International Inc. | Consumer Discretionary | Home Furnishings | Bull | NYSE | Brand Equity, Consumer Discretionary, Free Cash Flow, home furnishings, market share gains, Mattresses, premium brands | View Pitch |
| Apr 27, 2026 | Fund Letters | The London Company Small Cap | Tempur Sealy International Inc | Consumer Discretionary | Household Durables | Bull | NYSE | Bedding, Brand Equity, Consumer Discretionary, Equity, Free Cash Flow, market share, Mattresses, Pricing power | 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. | ||||||||