Join for free and get access to the buyside
Get insights from the world's most influential hedge fund investors direct to your inbox
- © 2025 Buyside Digest
- Privacy Policy
- Disclaimer
- Sitemap
- Terms of Service
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 22, 2025 | Voss Value Fund | 1.0% | -6.3% | AMZN, ARE.TO, CLBT, CRM, ECN, FIVN, GENI, GOOGL, META, MSFT, NOW, PHIN, PRKS, TWLO, VRNT | AI, cybersecurity, Long/Short, nuclear, small caps, sports betting, technology, value | AI presents both opportunities and threats across portfolio companies. Mega cap tech companies are pouring tens of billions into AI infrastructure with CapEx expected to reach $512B by 2027. Five9 faces AI disruption concerns in contact centers but is positioning as an AI winner through integration and automation capabilities. | FIVN ARE CN PRKS PHIN ECN CLBT GENI |
View |
| 2024 Q2 | Jul 10, 2024 | Generation Investment Management Global Equity | - | - | AMAT, AMZN, AVGO, BDX, CCC, GOOGL, MSFT, NTNX, NVDA, TWLO, VMW, VWS.CO | AI, Cloud, Data centers, energy, Esg, sustainability, technology | Discusses the power demands of Generative AI and its impact on data centers. Notes that AI requires significant electricity for training and inference, with cloud companies investing heavily in AI hardware. Examines sustainability implications of AI's energy consumption. | NTNX |
View |
| 2024 Q1 | Apr 15, 2024 | RiverPark Long/Short Opportunity Fund | 0.6% | 11.1% | AAPL, ADBE, AMAT, AMZN, DELL, DIS, FIVN, GOOGL, KLAC, LRCX, MA, META, MSFT, NFLX, NVDA, SMAR, SNAP, TWLO, UBER | AI, growth, large cap, Long/Short, Social Media, Streaming, technology | Performance was largely driven by AI hardware companies selling equipment into the AI space, with NVIDIA gaining 82% in the quarter. The artificial intelligence arms race kicked off by ChatGPT has generated tremendous demand for Nvidia's next generation graphic processors. The fund is excited about AI as a long-term trend and looks forward to valuation gains being more broadly spread through the AI ecosystem. | FIVN AAPL SNAP DIS META NVDA |
View |
| 2024 Q1 | Apr 15, 2024 | Harding Loevner International Small Companies Equity | 9.1% | 4.8% | AAPL, ADBE, AMD, AMZN, CRM, GOOGL, INTC, META, MSFT, NFLX, NVDA, ORCL, PYPL, QCOM, SHOP.TO, SPOT, SQ, TSLA, TWLO, UBER | AI, cybersecurity, international, Japan, semiconductors, small caps, value | Generative AI is a powerful wave gaining momentum since ChatGPT's launch, with global spending on enabling chips expected to surge from $50B in 2023 to $100-400B over the next few years. Smaller companies like Pfeiffer Vacuum occupy important niches in the AI supply chain, manufacturing advanced vacuum pumps critical for semiconductor clean rooms where AI chips are produced. | View | |
| 2024 Q4 | Mar 31, 2025 | Adestella Investment Management | 4.2% | 14.0% | NBIS, PSIX, TWLO | Inflection, software, technology, turnaround, value | Twilio operates as a cloud communication services provider through its CPaaS platform. The company has undergone significant operational restructuring to shift from growth-at-any-cost to profitability focus, with new CEO implementing cost reductions and capital return programs. | TWLO |
View |
| 2025 Q4 | Feb 3, 2026 | Baird Small/Mid Cap Growth Equity Fund | 1.2% | -8.5% | ABT, AFRM, BOOT, BRBR, BROS, BURL, BWXT, CASY, CHDN, COCO, CRDO, CW, DKNG, DT, ELF, EME, EXAS, FOUR, GKOS, KTB, LII, MASI, MNDY, MTSI, PEN, PODD, RGEN, RKLB, TARS, TWLO, ULS, VERX, WAY, WSO | AI, defense, growth, healthcare, mid cap, semiconductors, small cap, technology | The extended federal government shutdown added volatility during what was otherwise a risk-on environment, with a mid-quarter shift in market behavior for AI-related equities as the exuberant narrative evolved to one more balanced in assessing the technology's enormous potential against staggering capital spending plans and high expectations. The team initiated a position in Credo Technology as a more diversified way to gain exposure to strong trends in AI-connectivity. MACOM Technology Solutions rose nearly +40% as the company experienced broad-based demand, similar to many semiconductor companies in 2025. The team exited Astera Labs following industry conference presentations that suggested emerging competitive risks and concerns over single customer concentration, while initiating a position in Credo Technology for AI-connectivity exposure. Healthcare was the strongest relative contributor in the quarter with holdings increasing nearly +16% compared to benchmark returns of roughly +12%. Exact Sciences was acquired for a significant premium by Abbott Laboratories resulting in an +86% return, while other strong performers included Tarsus Pharmaceuticals, Glaukos following approval of a new product, Penumbra, and Repligen driven by strong earnings results. The team initiated a position in Curtiss-Wright, believing the company is entering a period where multiple near-term growth drivers are converging, including rising defense budgets, commercial aerospace production ramps, nuclear power plant life extensions and new builds, and submarine production. EMCOR Group was initiated as a new position, viewed as a critical contractor enabling multi-year investment cycles across data centers, semiconductor fabrication, electrification, and broader infrastructure modernization. Its decentralized, cash-generative model, recurring service base, and exposure to structural growth drivers create a profile viewed as more durable than a typical cyclical contractor framework. | View | |
| 2024 Q4 | Dec 31, 2024 | TMR Long Short Opportunities | - | 15.7% | CRM, HUBS, MAPS, NOW, TWLO, ZENV | dispersion, Long/Short, M&A, SMID Cap, special situations, technology, value | The fund expects increased dispersion in Technology as the AI cycle progresses, creating opportunities to pick winners and losers. Zenvia's Customer Cloud platform is powered by AI-driven solutions that minimize reliance on human agents and enhance efficiency for clients through volume-based pricing models. | MAPS ZENV |
View |
| 2024 Q4 | Dec 31, 2024 | TMR Partners Long Only | - | 25.3% | CRM, HUBS, MAPS, NOW, TWLO, ZENV | AI, Long/Short, M&A, SMID Cap, special situations, technology, value | The fund expects to see more dispersion in Technology as the AI cycle progresses, which should benefit their ability to pick winners and losers. Zenvia's Customer Cloud platform is powered by AI-driven solutions that minimize reliance on human agents and enhance efficiency for clients. | MAPS ZENV |
View |
| 2023 Q4 | Dec 31, 2023 | Contrarius Global Equity Fund | 10.4% | 20.2% | DOCU, MSFT, TWLO, XOM, ZM | contrarian, energy, global, growth, software, technology, value | The fund follows a contrarian, valuation-based investment philosophy, finding compelling opportunities in high margin, long-term growth companies trading below intrinsic value. The manager emphasizes they are not typical value managers but invest in both value and growth stocks when attractively priced. | AZM IM |
View |
| 2025 Q3 | Nov 8, 2025 | Baird Small/Mid Cap Growth Equity Fund | -3.2% | -9.6% | AAON, ADMA, AFRM, ALAB, BMI, BOOT, BRBR, BROS, BURL, BWXT, CASY, CAVA, CLWD, COCO, DKNG, ELF, EXAS, FDS, FOUR, FSS, HLI, INSM, INSP, IONQ, LII, MASI, MKTX, MTSI, NBIX, PEN, PODD, QBTS, RGTI, SOFI, TARS, TTAN, TWLO, TXRH, WAY, WING, WSO | AI, growth, healthcare, momentum, Quality, semiconductors, small cap, software | AI enthusiasm drove significant benchmark outperformance through semiconductor and infrastructure plays, with quantum computing stocks adding over 2% to benchmark weight despite extreme valuations. The market's insatiable desire for AI beneficiaries created meaningful factor headwinds for the portfolio. | View | |
| 2025 Q3 | Oct 27, 2025 | 13D Activist Fund | 8.9% | 2.7% | ABG, ALV, APD, BILL, EXEL, KVUE, MIDD, MRCY, PENN, PFGC, PSO.L, QRVO, RIOT, SWX, TRIP, TWLO, VSAT, VSTS, WK, YETI | activism, M&A, SMID Cap, technology, value | Activist activity and success have been flourishing with the Universal Proxy Card increasing campaign success rates from 73% to 88%. The fund expects significant alpha generation from activists like Jeff Smith, Scott Ferguson and Dan Loeb as markets rotate into value investing. | WK VSAT TRIP PFGC |
View |
| 2024 Q4 | Jan 11, 2025 | Seeking Winners | - | 26.6% | APPF, BRK-B, CMG.TO, CRM, CSGP, CSU.TO, HEI, IT, LMN.TO, NVDA, TOI.TO, TWLO | Capital Allocation, cash flow, Concentration, Quality, Research, software, technology | The manager acknowledges AI will fundamentally revolutionize numerous industries but maintains a cautious perspective on current AI-focused investments. They note the overwhelming market momentum concentrated in select AI stocks like Nvidia and express skepticism about long-term terminal values of AI ecosystem companies despite significant stock price appreciation. | IT |
View |
| 2022 Q2 | Mar 31, 2022 | RiverPark Long/Short Opportunity Fund | 0.6% | 11.1% | ADYE AV, AMZN, BX, GOOG, KKR, META, NKE, TWLO, UBER | - | View | ||
| 2024 Q4 | Jan 13, 2025 | 13D Activist Fund | 0.8% | 1.7% | ALV, APD, AZTA, BBWI, ENV, EXEL, FTR, HR, JHG, LW, MDU, MRCY, NSIT, PSO, RIOT, RPD, SWX, THS, TWLO, VSTS | activism, Bitcoin, Corporate Governance, Data centers, M&A, Proxy Fights, SMID Cap, value | 2024 was a record year for shareholder activism with 128 new initiations in North America. Success rates continue to soar with activists achieving 96% success rate in 2023 and 86% in 2024 versus high 60s historically. Shareholder activism is becoming more mainstream with 40 non-activists launching new campaigns in 2024. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| May 4, 2026 | Seeking Alpha | Seeking Alpha | Twilio Inc. | Technology | Software - Infrastructure | Neutral | New York Stock Exchange | AI infrastructure, earnings surprise, investment risk, net retention rate, Q1 FY26, Revenue Growth, SaaS, software market, stock valuation, Twilio | View Pitch |
| Apr 13, 2026 | Fund Letters | Adestella Investment Management | Twilio Inc. | Information Technology | Application Software | Bull | NYSE | activist, API, cloud communications, Cpaas, Free Cash Flow, Inflection, profitability, SaaS, Software, turnaround | View Pitch |
| Oct 28, 2025 | Seeking Alpha | Seeking Alpha | Twilio Inc. | Software - Infrastructure | Neutral | active accounts, cloud communications, cost structure, financial performance, profitability, Revenue Growth, strategic wins, Twilio, valuation, value investing | 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. | ||||||||