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Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2023 Q2	Aug 9, 2023	The Olstein Strategic Opportunities Fund	-	-	AMZN, AVTR, BAX, CSCO, CW, DAL, DE, DIS, DOV, FIS, GNRC, GOOGL, IFF, KFY, KLIC, META, NFLX, ORCL, TGT, USB, WESCO	Banking, discount, Entertainment, free cash flow, fundamentals, technology, value	The fund emphasizes buying companies at significant discounts to intrinsic value based on normalized future free cash flow. The manager believes current negative sentiment has created opportunities to purchase good companies whose stock prices have fallen to levels that no longer accurately represent their future fundamentals.	CSCO DIS	View
2025 Q2	Aug 25, 2025	Davis New York Venture Fund	-	11.5%	AMAT, AMZN, BRK-B, COF, CVS, DANSKE.CO, DGX, HUM, META, MGM, OC, SOLV, TECK, TOU.TO, TSN, TXN, UNH, USB, VTRS, WFC	AI, Concentration, financials, inflation, Quality, technology, Transition, value	GenAI is likely the most transformational technological development in modern history, driving major advances across industries while creating significant competitive, economic and social risks. The market for AI products and services is still in early days with fierce competition, making it risky to project long-term winners based on recent performance. AI will prove disruptive to once stable industries in ways difficult to anticipate.		View
2025 Q2	Jul 30, 2025	Davis Opportunity Fund	-	9.5%	AGCO, CI, COF, CVS, DGX, META, MKL, SOLV, TECK, TOU.TO, USB, VTRS, WCC	earnings, financials, growth, healthcare, industrials, technology, value	The portfolio focuses on dominant healthcare companies, predominantly healthcare services that are both cheap and underestimated. Holdings range over managed insurance, lab and diagnostics services, generic pharmaceuticals and medical supply businesses. As the population ages, aggregate healthcare spend in absolute terms will continue to climb over the coming decade.		View
2025 Q2	Jul 18, 2025	Mairs & Power – Balanced Fund	-	2.7%	ABT, AMZN, ENTG, FI, FUL, GOOG, HON, JNJ, JPM, MDT, MSI, NEOG, PFG, TECH, TGT, TXN, UNH, USB, WEC, WFC	AI, Balanced, financials, healthcare, long-term, technology, Utilities, value	AI-related stocks have driven 75% of market returns since ChatGPT launch, with 40% of capital expenditures linked to AI. The Fund lacks exposure to mega-cap AI leaders but sees durable momentum in AI infrastructure including data centers, power generation, and components.	WEC AMZN FI UNH	View
2024 Q1	May 23, 2024	Auxier Asset Management	7.4%	0.0%	AAPL, AMZN, ASML, BAC, BK, C, CPF, CSCO, GOOGL, KR, MA, META, MSFT, MU, NVDA, TSLA, TSM, USB, V, WMT	AI, Buybacks, financials, infrastructure, technology, Travel, Utilities, value	Top US tech firms are ramping up capital spending into AI infrastructure toward the $200 billion mark for 2024, benefiting hardware firms like Nvidia, Micron, ASML and Taiwan Semiconductor. Microsoft and OpenAI are working on a new data center and supercomputer project that could cost as much as $100 billion. High spending in the service industry on AI infrastructure could prove to be a long-term driver of inflation.		View
2025 Q1	May 2, 2025	Tweedy, Browne Value Fund	6.3%	6.3%	0220.HK, 0700.HK, 086280.KS, 2551.T, 3405.T, 4091.T, 4955.T, 7203.T, 7958.T, 9635.T, AKE.PA, ATE.PA, BA.L, BRK-A, CCC.L, CNHI, D05.SI, DGE.L, DHL.DE, FDX, FMC, FRE.DE, GOOGL, HEIA.AS, HUSQ-B.ST, INCH.L, IONS, JNJ, KEMIRA.HE, KOF, KRN.DE, LAS-A.TO, MEGA.MX, MGCL.T, NA.TO, NESN.SW, NOVN.SW, P911.DE, PETS.L, PRU.L, RHM.DE, ROG.SW, RUI.PA, SAF.PA, SKF-B.ST, SOL.MI, SOP.PA, TEP.PA, TFC, TKTT.PA, TREL-B.ST, TTE, TXGN.SW, U11.SI, UHAL, USB, VRTX, WFC, WPK.TO, ZURN.SW	defense, Europe, healthcare, Hedging, industrials, international, value	Tweedy Browne maintains their disciplined deep value approach, seeking securities trading at meaningful discounts to conservative estimates of intrinsic value. They emphasize their bottom-up, fundamentally driven investment process focused on businesses with sound balance sheets and enduring competitive advantages.		View
2025 Q1	May 2, 2025	Tweedy, Browne Worldwide High Dividend	7.2%	7.2%	0220.HK, AAPL, ARKM.PA, BA.L, CNHI, D05.SI, DGE.L, DHL.DE, FMC, GOOGL, HEIN.AS, HTO.PA, INCH.L, JNJ, KEF1V.HE, KO, MSFT, NESN.SW, NOVN.SW, PRU.L, RHM.DE, ROG.SW, RUI.PA, SAF.PA, TFC, TREL-B.ST, TTE, U11.SI, USB, ZURN.SW	defense, dividends, Europe, industrials, international, value	Tweedy Browne maintains disciplined deep value approach, seeking securities trading at meaningful discounts to conservative estimates of intrinsic value. The firm remains particularly cautious given elevated valuation multiples and speculative enthusiasm in certain market segments. Their bottom-up, fundamentally driven investment process focuses on businesses with sound balance sheets and enduring competitive advantages.		View
2025 Q1	Apr 8, 2025	Matrix Dividend Income	-	-	ABBV, BDX, BK, CSCO, DG, FI, GNRC, GS, HUM, JPM, LOW, MDT, META, PEP, QCOM, RTX, TGT, TMO, TSN, USB	dividends, financials, healthcare, tariffs, technology, value, volatility	The administration's tariff threats and April 2 Liberation Day 10% tariffs on all imports caused significant market disruption. Tariffs are viewed as policy mistakes that will increase inflation, slow economic growth, and force businesses and consumers to pull back on investments and spending.	TGT PEP GNRC	View
2025 Q1	Apr 8, 2025	Matrix Large Cap Value Strategy	-	-	ABBV, BDX, BK, CSCO, DG, FI, GNRC, GS, HUM, JPM, LOW, MDT, META, PEP, QCOM, RTX, TGT, TMO, TSN, USB	dividends, financials, healthcare, tariffs, technology, value, volatility	The administration's tariff threats and April 2 Liberation Day 10% tariffs on all imports created significant market disruption and economic uncertainty. The manager views these tariffs as a policy mistake that will lead to inflation and economic slowdown, comparing them to an act of war that taxes goods and disrupts the post-war economic system.	TGT PEP GNRC	View
2026 Q1	Apr 21, 2026	Brandes Core Plus Fixed Income Fund	0.1%	0.1%	BAC, GOOGL, GS, IRM, JPM, KSS, PNC, USB	Corporate Bonds, credit, duration, fixed income, inflation, private credit, Treasuries			View
2026 Q1	Apr 17, 2026	Magellan Global Opportunities Fund No. 2	-11.0%	-11.0%	ASML, MSFT, SAP, TSM, UMG.AS, USB	AI, energy, Geopolitical, global, software, technology			View
2026 Q1	Apr 17, 2026	Magellan Global Opportunities Fund No. 1	-11.0%	-11.0%	ASML, MSFT, SAP, TSM, USB	AI, energy, Geopolitical, semiconductors, software, technology		SAP	View
2024 Q1	Apr 15, 2024	Mairs & Power – Balanced Fund	0.0%	11.0%	AMP, AMZN, CASY, DIS, ENTG, FI, HSY, JPM, LFUS, LLY, META, MSFT, NVDA, PG, QCOM, TECH, TGT, UNH, USB, WFC	AI, Balanced, dividends, financials, healthcare, semiconductors, technology, value	The fund sees significant opportunities with companies that will benefit from AI implementation and plans to continue improving the portfolio accordingly. AI could help companies relieve labor shortages, boost capital utilization, and make more efficient use of raw materials and supply chains. The fund has invested in pick and shovel providers of AI that are crafting tools for businesses to utilize.		View
2025 Q1	Mar 31, 2025	Madison Sustainable Equity Fund	-	-	A, AAPL, ACN, AMZN, COST, ECL, GOOGL, JPM, LIN, LLY, MSFT, NEE, ORCL, PGR, UPS, USB, V	financials, healthcare, Quality, sustainability, tariffs, technology	New tariffs announced by President Trump on April 2, 2025 are expected to erode business and consumer confidence, increase business costs, and keep inflation elevated. The impact is causing earnings estimate revisions and contributing to a more pronounced economic slowdown.		View
2025 Q1	Mar 31, 2025	Brandes Core Plus Fixed Income Fund	2.6%	2.6%	ADT, BAC, C, CCI, F, GS, JPM, NFLX, PBI, RIG, RRC, SCHW, TNL, USB	Corporate Bonds, credit spreads, duration, Fed policy, fixed income, tariffs, Treasuries	Trump administration introduced tariffs during the quarter that were more draconian than market expectations. The manager references historical context of Hawley-Smoot tariffs in 1930 and their negative economic impact. Tariff policy appears central to the current administration's approach and creates market uncertainty.		View
2023 Q4	Feb 8, 2024	The Olstein Strategic Opportunities Fund	-	-	AAPL, AMZN, CFG, CWK, FA, FITB, GHM, GNRC, GOOGL, HRL, INTC, KTB, LKQ, LUV, META, MSFT, NVDA, RTX, SHYF, TPG, TSLA, USB, VNT, VSH, WRK, ZBH	financials, free cash flow, industrials, Magnificent Seven, undervalued, value	Manager believes market leaders are about to change from high-growth Magnificent Seven stocks to undervalued companies selling at large discounts to intrinsic value. Focus on companies with strong fundamentals trading below normalized free cash flow calculations.	HRTX	View
2025 Q4	Feb 11, 2026	Tweedy, Browne Worldwide High Dividend	2.4%	21.7%	005930.KS, BAE.L, CNHI, DHL.DE, GOOGL, IONS, J36.SI, KEMIRA.HE, MEGACPO.MX, NESN.SW, NOVN.SW, RB.PA, RHM.DE, ROG.SW, SAF.PA, TFC, TTE, U11.SI, USB, ZURN.SW	defense, dividends, global, industrials, Pharmaceuticals, value	Health care holdings including pharmaceutical and biotechnology companies added meaningfully to returns. Holdings such as Roche, Novartis, and Ionis Pharmaceuticals benefited from new drug approvals, steady and growing earnings, and business models that continue to generate cash through a wide range of economic conditions. The Worldwide High Dividend Yield Value Fund shared many attribution themes with a slightly different emphasis. Financials and industrials contributed meaningfully, consistent with the Fund's dividend-focused orientation. The fund maintains an average-weighted dividend yield on fund stocks of 3.94%. Defense-related holdings such as BAE Systems and Rheinmetall, which had been standout performers for much of the year, fell back a bit in the 4th Quarter. While these businesses currently benefit from secular growth in defense spending around the world, share prices have moved ahead of underlying fundamentals. The gap in valuation between US and non-US equities still remains quite significant and should serve us well going forward given the non-US-centric postures of our fund portfolios. We believe fervently that a diversified portfolio of well-capitalized, competitively advantaged companies purchased at attractive valuations offers the best defense against market uncertainty.		View
2024 Q4	Dec 31, 2024	Miller Howard Investments Income-Equity Strategies	-	-	ABBV, CPT, EIX, ETR, EWBC, GILD, GS, GSK, HST, JEF, JNJ, JPM, KO, LAMR, LYB, MAA, MDT, MRK, MSM, ORI, RY, TTE, USB	dividends, financials, healthcare, income, Utilities, value	The fund focuses on companies with high and rising dividend yields, tracking both the percentage of holdings announcing dividend increases and the average size of those increases. In 2024, over 90% of holdings announced dividend increases versus only 50% for the Russell 1000 Index. The average dividend increase was 23 basis points for Income-Equity versus only 5 basis points for Russell 1000 dividend payers.		View
2024 Q4	Dec 31, 2024	Miller Howard Investments	-	-	ABBV, AESI, AM, CPT, EIX, EQIX, ETR, GSK, HCA, HST, LAMR, LBRT, LNG, LYB, MAA, MRK, MSM, OKE, ORI, PAGP, PCG, RY, SM, SOBO, TRP, USB, VST, WMB	Data centers, dividends, energy, infrastructure, Natural Gas, retirement, Utilities	The letter extensively analyzes dividend-based retirement strategies, demonstrating that high-yield stocks historically outperformed the S&P 500 with 11.1% vs 9.8% annualized returns from 1928-2023. Dividend spending strategies never failed in 67 simulated 30-year retirements, while allowing higher average spending than the traditional 4% Rule.		View
2024 Q4	Dec 31, 2024	Brandes Core Plus Fixed Income Fund	-2.6%	2.3%	BAC, C, F, GS, NFLX, RRC, S, SCHW, SPR, USB	credit, duration, Fed policy, fixed income, Treasury	Fed delivered a hawkish 25 basis point cut in December, reducing projected 2025 rate cuts from 100 to 50 basis points. The neutral fed funds rate may ultimately be higher than forecasted, with fundamental data suggesting rates may need to remain elevated given strong economic conditions and persistent services inflation.		View
2024 Q4	Dec 31, 2024	Davis New York Venture Fund	-	17.2%	005930.KS, AMAT, AMZN, BRK-B, CI, COF, DGX, GOOGL, HUM, META, MGM, OC, TECK.TO, TOU.TO, TSN, TXN, USB, VTRS, WFC	AI, Concentration, financials, healthcare, industrials, inflation, technology, value	Generative AI is likely one of the most transformational technological developments in modern history, creating new risks and driving major advances across industries. The market for AI products is still early with fierce competition, making it risky to project long-term winners based on recent performance. AI will likely prove disruptive to stable industries in ways difficult to anticipate.		View
2023 Q4	Dec 31, 2023	Matrix Dividend Income	0.0%	0.0%	AEP, BK, CMCSA, GILD, JPM, MDT, MSFT, PNC, UNP, USB	dividends, financials, income, large cap, value	The portfolio focuses on high-quality companies that pay strong dividend yields with a long history of continually growing those dividends. The strategy generated high current and growing income with a 3.10% dividend yield and 6.43% average annual dividend growth.		View
2023 Q4	Dec 31, 2023	Magellan Global Fund	-	20.6%	AAPL, AMZN, ASML, BN, CCI, CMG, DEO, GOOGL, HCA, ICE, INTU, LOW, MSFT, NFLX, SAP, TT, UNH, USB, V, YUM	AI, global, growth, inflation, Quality, Recession, technology	Generative AI represents a period of extraordinary progress with lasting impacts. The managers are focused on understanding how AI will create new addressable markets and earning streams while being thoughtful about disruption risks. They see clear commercial applications for some portfolio holdings as enablers of the new AI era.	AMZN AAPL\|MSFT\|NFLX\|NVDA\|UNH	View
2023 Q2	Dec 7, 2023	Madison Investors Fund	7.8%	17.0%	ADI, BDX, BLK, CPRT, GOOGL, J, LOW, PCAR, PH, SCHW, TJX, USB	Banking, financials, large cap, Quality, semiconductors, technology	The fund views ChatGPT and AI advancement as interesting but not currently threatening to Alphabet's core search functionality. They believe Alphabet has the technical expertise to counter any emerging AI threats and expect management to make appropriate strategic choices for the long term.	SCHW USB	View
2023 Q2	Dec 7, 2023	Madison Sustainable Equity Fund	6.1%	20.1%	AAPL, ADI, DHR, GOOGL, HD, LLY, NESN.SW, ORCL, PEP, QCOM, TEL, TGT, UNH, USB	Banking, financials, healthcare, large cap, Quality, sustainability, technology	Manager sees semiconductor fundamentals troughing in Q2 with recovery expected in second half. Qualcomm inventory issues peaked in Q1 and should moderate. Analog Devices showed strength in auto and industrial markets with 30% and 25% growth respectively.	ADI\|BDX\|FI\|FND\|HAS\|META\|MSFT\|MSI\|ORCL\|TMO AAPL\|MSFT\|NFLX\|NVDA\|UNH DHR ALLY USB ICLR\|LLY\|PLTR\|SNPS\|TGT AIRTEL.L QCOM GOOGL ADI	View
2025 Q3	Nov 5, 2025	ClearBridge Investments Large Cap Value	-	-	AMT, AMZN, APD, AVGO, CMCSA, CVS, DE, GOOGL, HLN.L, INTC, JNJ, MCHP, ORLY, PNC, SRE, TMO, TSM, UNH, USB, WEC	AI, healthcare, Outperformance, Quality, semiconductors, technology, Utilities, value	The massive surge in spending on artificial intelligence continues to bolster chip providers like Broadcom, whose custom-designed chips are gaining broader adoption with hyperscalers. Taiwan Semiconductor leads in advanced semiconductor manufacturing with dominant market share in leading-edge nodes being adopted by nearly all major AI companies. The Strategy neutralized the powerful AI trade by initiating positions in Taiwan Semiconductor and Amazon.com while increasing Alphabet position.		View
2023 Q3	Nov 10, 2023	Gator Capital Management	10.8%	24.3%	AAIC, AX, BOH, CFG, FCNCA, FITB, GNW, HBAN, JXN, MTB, OFG, PGR, PNC, RF, TFC, USB, VNO, WAL	Banking, financials, M&A, Regional Banks, value	First Citizens Bancshares represents the fund's largest position, acquired through strategic M&A including the SVB acquisition. The manager believes regional banks trade at historically low valuations and expects the group multiple to re-rate higher as the industry works through higher interest rates and the credit cycle peaks. First Citizens is positioned well for higher rates with a liquid balance sheet and balanced loan portfolio.	FCNCA	View
2025 Q3	Oct 31, 2025	Tweedy, Browne International Value II	2.1%	18.8%	003550.KS, 005930.KS, 145720.KS, 2531.T, 4368.T, 6302.T, 6777.T, 7267.T, 7716.T, 7741.T, 7844.T, 7988.T, AZE.BR, BA.L, BIDU, BKG.L, BREE.L, BRK-A, CNH, DEO, FDX, GOOGL, GRAF.L, HEIA.AS, IONS, JNJ, JSG.L, KOF, NA.TO, NESN.SW, NVS, NVST, PETS.L, PRU.L, RHM.DE, ROG.SW, RUI.PA, SAF.PA, SKF-B.ST, SOP.PA, SW.PA, TFC, TP.PA, TREL-B.ST, TTE, U11.SI, USB, VRTX, WFC	Currency, dividends, Europe, Hedging, international, Japan, value	The firm continues to focus on companies that combine financial strength, reasonable valuations, and the capacity to weather uncertain times. They believe price matters in investing, especially in a world where inflation remains persistent and interest rates are normalizing at levels far above zero. The valuation gap between US and non-US equities remains significant despite recent outperformance.	AZE	View
2025 Q3	Oct 31, 2025	Tweedy, Browne International Value II	1.4%	23.2%	003550.KS, 005930.KS, 145720.KS, 2531.T, 4368.T, 7270.T, 7276.T, 7716.T, 7988.T, AALB.AS, AZE.BR, BA.L, BIDU, BKG.L, BREE.L, BRK-A, CNHI, CRH.L, D05.SI, DGE.L, DHL.DE, FDX, GOOGL, HEIA.AS, INCH.L, IONS, J36.SI, JNJ, JSG.L, KOF, MEGACPO.MX, NA.TO, NESN.SW, NOVN.SW, NVST, PETS.L, PRU.L, ROG.SW, RUI.PA, SAF.PA, SOP.PA, SW.PA, TFC, TREL-B.ST, TTE, U11.SI, USB, VRTX, WFC, ZURN.SW	Currency, dividends, ETFs, Europe, Hedging, international, Japan, value	The firm emphasizes investing in companies that combine financial strength, reasonable valuations, and capacity to weather uncertain times. They focus on businesses trading at discounts to conservative estimates of underlying intrinsic value. The valuation gap between US and non-US equities remains significant despite recent outperformance.	AZE	View
2023 Q3	Oct 31, 2023	Davis New York Venture Fund	0.0%	0.0%	2318.HK, AMAT, AMZN, BK, BRK-B, CI, COF, D05.SI, DANSKE.CO, DGX, GOOGL, IAC, JPM, META, OC, TECK, TXN, USB, VTRS, WFC	Banking, fundamentals, healthcare, Quality, Resilience, technology, undervalued, value	The fund focuses on companies trading at attractive valuations despite strong fundamentals. Portfolio companies trade at 11.4x forward earnings, a 45% discount to the S&P 500, while growing earnings faster than market averages. The end of the easy-money era has created opportunities in undervalued, high-quality businesses.		View
2025 Q3	Oct 24, 2025	Mairs & Power – Balanced Fund	-	6.5%	ABT, AMZN, ENTG, FI, FUL, GOOG, HON, JNJ, JPM, MDT, MSI, NEOG, PFG, TECH, TGT, TXN, UNH, USB, WEC, WFC	AI, Balanced, financials, healthcare, technology, underperformance, Utilities, value	AI-related stocks have dominated market performance since ChatGPT's 2022 launch, with 40 AI-related S&P 500 stocks accounting for 75% of market returns. The AI and data-center buildout is fueling a multi-year capital expenditure cycle extending beyond semiconductors to power generation, transmission, and thermal management components. However, the Fund largely lacks exposure to these high-performing AI companies, contributing to underperformance.		View
2025 Q4	Jan 30, 2026	Aristotle Value Equity Fund	1.0%	9.7%	AMGN, CBSH, COF, LEN, MRK, MSFT, PH, SONY, STZ, TDY, UBER, USB, WFC	AI, earnings, large cap, rates, Trade Policy, US, value	Artificial intelligence continued to be a major theme with more than 300 S&P 500 companies mentioning AI on earnings calls. This enthusiasm helped propel mega-cap tech stocks higher and drive market gains. However, scrutiny increased around AI-related revenue circularity, massive capital spending scale, and durability of longer-term returns on investment. Trade relations between the U.S. and China remained a key market focus. Tensions flared with tariff escalations and export controls, with China expanding export controls on rare earth minerals and the U.S. threatening 100% tariffs in retaliation. President Trump and President Xi ultimately reached a one-year trade truce at the APEC summit. The Federal Reserve implemented two 0.25% interest rate cuts during the quarter, lowering the federal funds target range to 3.50%-3.75%. Fed Chair Powell emphasized a data-dependent approach, acknowledging risks to both sides of the Fed's dual mandate and maintaining a cautious stance going into 2026. Value stocks handily outperformed growth stocks with the Russell 1000 Value Index outperforming its Growth counterpart by 2.69% in the quarter. However, for the full year, the Russell 1000 Growth Index outperformed the Russell 1000 Value Index by 2.65%, reflecting continued growth leadership despite quarterly value outperformance.	CBSH COF PH UBER SONY	View
2025 Q4	Jan 29, 2026	Hotchkis & Wiley Global Value Fund	3.8%	23.8%	AIG, BNP.PA, CMCSA, CRM, ELV, ERIC, FFIV, FISV, GEHC, GOOGL, UNH, USB, WBD, WDAY	AI, financials, global, healthcare, software, technology, valuation, value	The portfolio trades at 13x forward earnings and less than 10x normal earnings, representing attractive valuations relative to the broad market. The fund focuses on opportunities outside the Magnificent 7 where overall valuations remain near average despite elevated market multiples. The fund views AI as more likely to be a tailwind for application software vendors like Workday as they incorporate AI-powered features into their software suites. Google delivered strong new AI products that appear to be taking material share of Consumer Chatbot activity from OpenAI's ChatGPT. The fund has significant exposure to cloud-based enterprise software companies like Workday and Salesforce, which provide human capital management, financial management, and analytics solutions. These companies benefit from sticky customer bases and recurring revenue models.		View
2025 Q4	Jan 26, 2026	Davis Opportunity Fund	0.0%	22.0%	AMAT, AMZN, COF, CTRA, CVS, DGX, GOOGL, META, MKL, SOLV, TECK, UNH, USB, VTRS, WCC	active management, energy, financials, healthcare, Outperformance, selectivity, technology, valuation	Davis advocates for active management over passive indexing given stretched valuations in major indexes. They believe active managers can be selective at the security level and maintain rational diversification, contrasting with passive indexes where weightings are determined by share price momentum. The fund was opportunistic in healthcare throughout 2025, investing decisively in managed care insurers when operating costs surged unexpectedly. They believe these businesses traded at low multiples on depressed earnings with good recovery potential, as small margin improvements can translate into large percentage increases in earnings power. Holdings span social media, online search, cloud computing and e-commerce including select Magnificent 7 positions. They also own semiconductor companies at reasonable valuations, including picks and shovels businesses like Applied Materials with strong competitive positions and long track records of value creation. The portfolio looks different from major passive indexes in financials. Capital One Financial is a core holding with strong consumer finance, deposit-rich banking, and payment processing capabilities. It trades at only 13-14 times forward earnings despite attractive economics and is the fifth-largest holder of AI-related patents among major US companies. The fund owns stakes in energy and commodities companies that they have been quietly building. Coterra represents their energy business holdings, while Teck Resources reflects interest in select commodities like copper that serve as critical inputs to the electrification trend.	WCC COF UNH	View
2025 Q4	Jan 26, 2026	Davis Financial Fund	0.0%	29.3%	AXP, BAER.SW, BK, BRK-A, CB, COF, D05.SI, DIS, FI, FITB, JPM, MKL, PNC, RE, RKT, RNR, USB, WFC	Banking, capital, financials, insurance, regulation, returns, value	Banks continue to represent the majority of holdings with strong tailwinds across credit, spreads, expenses, and regulation. Interest spreads have begun widening as fixed rate assets roll over at higher yields, revealing attractive economics of low-cost deposit franchises. Many banks are generating returns on tangible equity in the mid-to-high teens with management targets suggesting sustainability in the medium term. Capital markets firms were among the drivers of S&P Financials Index performance and contributed to fund outperformance. The regulatory environment has been moving in a favorable direction with capital rules being finalized that are far less onerous than under the prior administration. Regulators are more willing to consider M&A transactions with relief on certain supervisory limitations. Property & casualty reinsurers were added to the portfolio as capital was redeployed from trimmed bank positions. Pricing trends in insurance markets have been strong in recent years. Chubb has consistently generated returns on equity comfortably ahead of the industry owing to advantaged lines of business with disciplined underwriting and operating culture. Payments and consumer lending companies were the biggest contributors to relative performance including Capital One, American Express and Rocket Companies. Capital One's transformational acquisition of Discover Financial closed with anticipated annual cost synergies of $1.5 billion and network synergies of $1.2 billion from transitioning card volumes into Discover's networks. Financial stock valuations have begun to reset higher with price-to-tangible book value multiples expanding by over 70% on average in the past three years. The portfolio in aggregate is valued at approximately 13x this year's earnings, representing a significant discount to both the broader S&P 500 Index and S&P Financials Index.	CB WFC COF	View
2025 Q4	Jan 23, 2026	Brandes Core Plus Fixed Income Fund	0.9%	6.7%	ADT, CNSL, COTY, F, GTN, KSS, OGN, SABR, SPR, USB, UVN	Corporate Bonds, credit, duration, Fed policy, fixed income, inflation, Treasuries, Yield Spreads	Consumer Price Index is approximately 25% higher since COVID pandemic, the highest rise in nearly forty years. Inflation has outpaced wage growth, creating affordability issues. The manager believes inflation will trend higher rather than moving toward the Fed's 2% target. Early warning signs of credit stress in private credit markets with collapses of subprime issuers and private debt markdowns. Goldman Sachs reports 15% of private credit borrowers cannot cover interest costs. The manager questions whether these are isolated events or signs of broader trouble ahead. Fed cut rates by 1.75% since September 2024 with third consecutive reduction in December. The manager believes the market may be underestimating the ultimate neutral fed funds rate and that the last 18 years of unconventional monetary policy may have skewed perceptions of normal rates.		View
2025 Q4	Jan 18, 2026	Mairs & Power – Balanced Fund	0.0%	6.6%	AMZN, CASY, ENTG, FI, GOOG, HD, HON, HRL, JPM, LLY, MSI, NEOG, PFG, RHHBY, ROK, TECH, TGT, TRV, TXN, UNH, USB, WEC, WFC	AI, Balanced, earnings, financials, healthcare, rates, technology	AI and increasing market concentration took center stage in 2025, with the rate of investment in technology and AI infrastructure spending driving market narrative. McKinsey projects nearly $7 trillion in capital expenditures will be needed worldwide by 2030 to build up AI infrastructure. The Fund believes we are entering a transition period for AI, moving into a higher risk phase with flood of capital and unusual financing structures. The consistency of corporate earnings is a major reason for continued stock market strength. The S&P 500 is projected to deliver 12% earnings growth in 2025, while small cap companies are showing their first signs of earnings growth recovery after three years of contraction, posting 13% growth in 2025. The Federal Reserve began cutting rates in the fourth quarter with cooling inflation giving policymakers confidence. Lower interest rates are expected to continue into 2026, which typically takes around a year to feel effects through the economy and would likely support small business hiring and consumer confidence.		View
2024 Q3	Sep 30, 2024	Madison Sustainable Equity Fund	6.1%	20.1%	A, AAPL, ACN, AMZN, COST, DHR, GOOGL, HD, JPM, LIN, LLY, MSFT, NEE, ORCL, PGR, TJX, TXN, UNH, USB, V	healthcare, large cap, Quality, sustainability, technology, value	Microsoft continues to point to supply constraints in Azure but remains bullish about AI opportunities with their expansive enterprise position. Oracle reported strong Cloud infrastructure demand acceleration and highlighted multi-year AI growth opportunities. Qualcomm is positioned for AI moving into mobile phones and entering the AI PC business, though ramping will take time.		View
2024 Q3	Sep 30, 2024	Ariel Global Fund	6.9%	0.0%	005930.KS, 7270.T, AD.AS, CHKP, CMA, DANSKE.CO, DLG.L, JD, PUB.PA, SNY, STLA, TFC, TSCO.L, USB, WAL	Automotive, Banking, China, cybersecurity, global, Pharmaceuticals, Stimulus, value	Ariel's non-consensus approach seeks to identify undervalued, out-of-favor franchises that are misunderstood and therefore mispriced. The fund believes growth stocks are trading at elevated valuations, whereas value stocks remain cheap. They strongly believe reasonably priced, higher quality companies offering sustainable, profitable growth and robust balance sheets will be the drivers of future outperformance.	WAL TSCDY PUB.PA CMA STLA 7270.T 005930.KS SNY CHKP JD	View
2024 Q3	Sep 30, 2024	Hillman Value Fund	-	-	BMY, CPB, DD, DIS, IFF, NKE, PFE, T, USB, WBD	Communications, financials, healthcare, industrials, technology, value	The fund pursues investment in enterprises which they believe possess sustainable competitive advantages, coupled with adherence to fundamentally sound valuation discipline. The long-term pursuit of outperformance requires variability around the index, which necessarily includes periods of underperformance.		View
2023 Q3	Sep 30, 2023	Mairs & Power – Balanced Fund	0.0%	11.0%	ABT, CRM, ECL, ENTG, GGG, GOOGL, HON, HRL, LLY, MSFT, MSI, TECH, TTC, TXN, USB, XEL	AI, Balanced, fixed income, growth, inflation, rates, technology, value	Artificial intelligence is creating efficiencies and driving investment opportunities, particularly in technology companies. The fund sees AI as crucial for creating workforce efficiencies amid changing labor dynamics. Microsoft's leadership in AI helped propel it to all-time highs this year.		View
2023 Q3	Sep 30, 2023	Mairs & Power - Growth Fund	0.0%	19.0%	AMZN, GOOGL, HRL, JPM, MSFT, NVDA, NVT, SCHW, T, TECH, TMUS, TTC, UNH, USB, VZ	AI, growth, healthcare, industrials, large cap, technology, Telecommunications, value	AI remains in the forefront of investors' minds and will have a profound effect on the economy and society over the coming years. The fund believes AI will have the largest impact in the near term on large enterprises that can harness AI to increase workforce productivity and improve customer experience. They remain skeptical of lofty valuations and have been trimming holdings accordingly.		View
2023 Q1	Aug 5, 2023	Matrix Dividend Income	0.0%	0.0%	AEP, AMZN, APD, BK, EBAY, HD, KMB, KO, MDT, MTB, PARA, PNC, SLB, TFC, TSN, UNP, USB	Banking, dividends, financials, healthcare, rates, technology, value	Three U.S. banks failed in March, creating market volatility and concerns about banking system stability. Manager believes the selloff in regional bank stocks is overdone and will be short-lived, expecting strong rebounds in high-quality financials. Portfolio includes well-capitalized banks like PNC Financial that are likely to gain market share.	SUNP IN PNC	View
2023 Q1	Aug 5, 2023	Matrix Large Cap Value Strategy	0.0%	0.0%	AEP, AMZN, APD, BK, EBAY, HD, KMB, KO, MDT, MTB, PARA, PNC, SLB, TFC, TSN, UNP, USB	Banking, dividends, financials, healthcare, rates, technology, value	Three U.S. banks failed in March including Silicon Valley Bank, creating concerns about banking system stability. Manager believes the selloff in regional bank stocks is overdone and will be short-lived, expecting strong rebounds in high-quality financials. Added PNC Financial and increased positions in other regional banks during the quarter.	SUNP IN PNC	View
2024 Q2	Jul 25, 2024	Davis New York Venture Fund	0.0%	0.0%	005930.KS, 2318.HK, AMAT, AMZN, BAER.SW, BK, BRK-B, CI, COF, D05.SI, DANSKE.CO, DGX, GOOGL, IAC, JPM, META, MGM, OC, TECK, USB, VTRS, WFC	banks, healthcare, interest rates, Quality, technology, value	The fund emphasizes valuation discipline and seeks companies trading at attractive prices relative to fundamentals. Portfolio trades at only 12 times forward earnings, a 46% discount to S&P 500 despite strong earnings growth. The end of the free money era has created opportunities for value-conscious investors.		View
2024 Q2	Jul 23, 2024	Mairs & Power - Growth Fund	0.0%	19.0%	AAPL, AMZN, GGG, GOOGL, JPM, LLY, META, MSFT, NVDA, NVT, QCOM, ROK, TECH, USB, WK	AI, growth, healthcare, industrials, large cap, semiconductors, technology	The fund is well-positioned to benefit from AI adoption through holdings in Nvidia, which continues to see immense demand for GPU chips powering generative AI. Companies like Qualcomm and nVent are also benefiting from AI market enthusiasm, with Qualcomm's technology playing a big role in AI inferencing on smartphones and nVent's liquid cooling solutions needed for AI datacenters.	NVT QCOM	View
2024 Q2	Jul 17, 2024	Madison Sustainable Equity Fund	6.1%	20.1%	A, AAPL, AMZN, COST, DHR, EFX, GOOGL, HD, JPM, LIN, LLY, MSFT, NEE, ORCL, PGR, QCOM, TGT, UNH, USB, V	Esg, healthcare, large cap, sustainability, technology, Utilities	AI is emerging as a key theme with Qualcomm benefiting from AI moving to smartphones through higher silicon content and potential share gains. Apple introduced Apple Intelligence at their developer conference as their answer for artificial intelligence.	EFX	View
2024 Q2	Jun 30, 2024	Meridian Hedged Equity Fund	6.2%	0.0%	AMZN, BABA, DHI, DIS, LSXMK, LYV, MGM, MSFT, QCOM, RIVN, SBH, USB, V, VST, YOU	Covered Calls, Hedging, large cap, Quality, risk management, technology, value	Strong earnings from large-cap technology companies, particularly AI-related names, drove major index returns higher in the quarter. Vistra Corp was identified as a likely beneficiary of the projected growth of power-hungry data centers, spurred by the rise of generative AI. Amazon's cloud-computing revenue growth accelerated, driven by the ramp of generative AI workloads.	AMZN RIVN VST USB DIS LSXMK	View
2023 Q2	Jun 30, 2023	Mairs & Power – Balanced Fund	0.0%	11.0%	AAPL, AMZN, CRM, ECL, ENTG, FISV, GOOGL, GRCO, HD, HRL, LLY, META, MSFT, NTRS, NVDA, TSLA, TTC, TXN, USB, XEL	AI, Balanced, inflation, Regional Banks, technology, value	Artificial intelligence has driven significant outperformance in technology stocks, particularly benefiting mega-cap names like Microsoft, Alphabet, Amazon, and Nvidia. The fund maintains a favorable long-term view on technology given growth in AI, automation, and cloud computing, though valuations appear over-extended near-term.		View
2023 Q2	Jun 30, 2023	Mairs & Power - Growth Fund	0.0%	19.0%	AMZN, GGG, GOOGL, HRL, JPM, LNT, MSFT, NVDA, SCHW, TTC, UNH, USB	AI, Banking, growth, healthcare, large cap, technology, value	The fund sees artificial intelligence as a transformative technology similar to the internet, driving massive outperformance in technology stocks. They expect AI integration across productivity software and believe it will enable large-scale productivity improvements, though not overnight.		View
2023 Q1	May 23, 2023	ClearBridge Investments Large Cap Value	0.0%	0.0%	AXP, BAC, BDX, COP, CVX, DISH, ELV, GOOGL, HON, JNJ, JPM, MCK, META, MSFT, MSI, PGR, SCHW, TEL, UNH, USB	Banking, financials, healthcare, large cap, Quality, technology, value	The banking crisis in March highlighted risks in less diversified banks with concentrated deposit bases. The strategy's bias toward larger banks with strong deposit bases provided defensive positioning during the selloff.	MCK ADI\|BDX\|FI\|FND\|HAS\|META\|MSFT\|MSI\|ORCL\|TMO ADI\|BDX\|FI\|FND\|HAS\|META\|MSFT\|MSI\|ORCL\|TMO AVGO\|LLY\|MRK\|NVDA\|ORCL\|PGR SCHW	View
2024 Q1	May 4, 2024	Davis New York Venture Fund	0.0%	0.0%	005930.KS, 2318.HK, AMAT, AMZN, BAER.SW, BK, BRK-B, CI, COF, D05.SI, DANSKE.CO, DGX, GOOGL, IAC, JPM, META, MGM, OC, TECK, USB, VTRS, WFC	banks, financials, healthcare, Quality, rates, technology, value	The fund emphasizes the end of the free money era that began in 2008-2009, with the Federal Reserve raising rates 11 consecutive times starting March 2022. This normalization creates headwinds for speculative growth companies but tailwinds for durable, attractively valued businesses with strong fundamentals. The managers view this as a return to normalcy where valuation discipline matters again.		View
2023 Q1	Apr 30, 2023	Tweedy, Browne International Value II	2.4%	8.3%	0179.HK, 3405.T, 4182.T, 4368.T, 6302.T, 7988.T, ALV.ST, BABA, BAC, BIDU, BRE.DE, CCC.L, CSCO, D05.SI, FDX, FRE.DE, GOOGL, HUSQ-B.ST, IONS, JNJ, KBC.BR, MEGACPO.MX, ROG.SW, SKF, TFC, TREL.ST, TTE, TXGN.SW, U11.SI, USB, VRTX, WFC	Banking, China, energy, Europe, international, small caps, value	The manager believes a reset is afoot in capital markets that could favor value stocks over growth counterparts. They emphasize that price matters again and their portfolios trade at attractive valuation multiples with owner earnings yields of 7-8% or higher for new buys.		View
2023 Q1	Apr 30, 2023	Tweedy, Browne International Value II	4.8%	8.3%	0179.HK, 3405.T, 4182.T, 4368.T, 6250.T, 6302.T, 7988.T, ALV.ST, BABA, BAC, BIDU, BRE.DE, CCC.L, CSCO, D05.SI, FDX, FRE.DE, GOOGL, HUSQ-B.ST, IONS, JNJ, KBC.BR, MEGACPO.MX, ROG.SW, SKF, TFC, TREL.ST, TTE, TXGN.SW, U11.SI, USB, VRTX, WFC	Banking, diversification, energy, international, Non-US, value	The fund emphasizes trading at significant discounts to intrinsic value estimates. Portfolio holdings generally trade at reasonably attractive weighted average valuation multiples. Owner earnings yields for new buys typically around 7-8% or higher.		View
2023 Q1	Apr 30, 2023	Tweedy, Browne Value Fund	2.8%	7.6%	BABA, BAC, BIDU, CSCO, D05.SI, FDX, GOOGL, IONS, JNJ, ROG.SW, SKF, TRU, TTE, UOB.SI, USB, VRTX, WFC	Banking, China, Europe, international, small caps, value	The manager emphasizes that price matters again in the current environment, with their funds positioned to take advantage of attractive valuations. They believe the reset in capital markets could favor value stocks over growth counterparts, with their portfolios trading at reasonably attractive weighted average valuation multiples.		View
2023 Q1	Apr 30, 2023	Tweedy, Browne Worldwide High Dividend	6.4%	9.8%	BABA, BAC, BAESY, BIDU, BRK-B, CSCO, DGE.L, FDX, GOOGL, JNJ, NESN.SW, NVS, RHHBY, SAF.PA, TFC, TTE, UL, USB, VRTX, WFC	Banking, dividends, international, Reset, value	The manager believes a reset is afoot in capital markets that could favor value stocks over growth counterparts. They emphasize that price matters again and their portfolios trade at attractive valuation multiples. The owner earnings yield for many new buys has typically been around 7-8% or higher.		View
2023 Q1	Apr 19, 2023	Mairs & Power - Growth Fund	0.0%	19.0%	ECL, GOOG, HRL, JPM, LFUS, MSFT, NVDA, SCHW, TECH, UNH, USB, WFC	AI, Banking, growth, large cap, technology	The fund benefited from artificial intelligence exposure through NVIDIA, Alphabet, and Microsoft, which all gained from ChatGPT headlines and AI enthusiasm. In the current tight labor market, there is significant enthusiasm around the efficiency this technology could bring to many industries.		View
2023 Q1	Apr 14, 2023	Madison Dividend Income Fund	10.1%	9.5%	UPS, USB	-			View
2023 Q1	Apr 14, 2023	Madison Investors Fund	7.8%	17.0%	ADI, BDX, BLK, CPRT, GOOGL, J, LOW, PCAR, PH, SCHW, TJX, USB	Banking, financials, large cap, Quality, semiconductors, technology, value	The fund views ChatGPT and AI advancement as interesting but not currently threatening to Alphabet's core search functionality. They believe Alphabet has the technical expertise to counter any emerging threats and expect management to make sound strategic choices for the long term.	SCHW USB	View
2023 Q1	Apr 14, 2023	Madison Sustainable Equity Fund	6.1%	20.1%	AAPL, ADI, ADP, DHR, GOOGL, HD, LLY, NESN.SW, ORCL, PEP, QCOM, TEL, TGT, UNH, USB	financials, healthcare, large cap, Quality, sustainability, technology	Manager sees semiconductor fundamentals troughing in Q2 2023 with recovery expected in second half. Analog Devices performed well with strong auto and industrial end markets. Qualcomm inventory issues peaked and should moderate going forward.	ADI\|BDX\|FI\|FND\|HAS\|META\|MSFT\|MSI\|ORCL\|TMO AAPL\|MSFT\|NFLX\|NVDA\|UNH DHR ALLY USB ICLR\|LLY\|PLTR\|SNPS\|TGT AIRTEL.L QCOM GOOGL ADI	View
2025 Q1	Mar 31, 2025	Madison Investors Fund	-0.9%	-0.9%	A, ACGL, ACN, ADI, ALC, AMZN, BN, BRK-B, DHR, ELV, FERG, FI, GOOGL, LOW, NKE, PACR, PGR, TXN, USB, V	concentrated, insurance, large cap, payments, Quality, tariffs, value	Three insurance companies topped the contributor list during the quarter's negative market returns. Industry fundamentals remain sound with defensive demand profiles and limited tariff exposure. Progressive continues benefiting from robust premium growth and strong underwriting margins.		View
2023 Q1	Mar 31, 2023	ClearBridge Investments Dividend Strategy	0.0%	0.0%	AAPL, AIG, AMZN, BAC, COF, DEO, GOOGL, JNJ, JPM, LIN, MET, META, MSFT, NVDA, ORCL, PFE, PNC, SAP, TSLA, UNH, USB	Banking, dividends, financials, interest rates, Quality, value	The strategy emphasizes high-quality dividend compounders as particularly well-suited for the current environment of potentially higher interest rates for longer. Healthy dividends provide cushion in volatile markets and can benefit from dividend growth to offset inflation and preserve purchasing power.		View
2023 Q1	Mar 31, 2023	Meridian Hedged Equity Fund	6.2%	0.0%	AAP, AAPL, LEVI, LMACU, SBH, USB	-			View
2023 Q4	Jan 30, 2024	Gator Capital Management	10.8%	24.3%	AAIC, AX, BOH, CFG, FCNCA, FITB, GNW, HBAN, JXN, MTB, OFG, PGR, PNC, RF, TFC, USB, VNO, WAL	Banking, financials, interest rates, M&A, Regional Banks, value	Fund is heavily concentrated in regional banks, particularly First Citizens Bancshares as the largest position. Manager believes regional banks trade at historically low valuations and expects the group multiple to re-rate higher as the industry works through higher interest rates and the credit cycle peaks. First Citizens is positioned well for higher-for-longer rates with a liquid balance sheet and balanced loan book.	FCNCA	View
2023 Q4	Jan 14, 2024	Madison Sustainable Equity Fund	6.1%	20.1%	A, AAPL, AMT, BDX, COST, EL, GOOGL, J, JPM, LIN, LLY, MSFT, ORCL, PG, QCOM, TGT, UNH, USB, V, VLTO	financials, healthcare, inflation, large cap, rates, Sustainable, technology	Interest rates dropped during the fourth quarter as inflation moderated and the market began to discount an end to Fed rate hikes and even began discounting interest rate cuts in 2024. The shift in the yield curve in the latter part of 2023 may have overly discounted forthcoming interest rate cuts. Fed Fund Futures point to 150 basis points of rate cuts by the end of 2024 to 3.85%, which is more aggressive than the Federal Reserve's 75 basis point cut median estimate.		View
2023 Q4	Jan 14, 2024	Madison Investors Fund	7.8%	17.0%	A, ACGL, ALC, BDX, BN, CHTR, DHR, DLTR, GOOGL, LBRDK, SCHW, TXN, USB, VEEV	financials, healthcare, large cap, Quality, technology, value	The fund added to Texas Instruments following share price weakness amid investor wariness of the analog semiconductor downcycle and negative margin impact from capital investment programs. Management expects end markets to grow above GDP rates long-term and capital investments to generate attractive returns.		View
2023 Q4	Jan 13, 2024	Aristotle Value Equity Fund	6.3%	12.3%	ALC, CINF, COF, CTRA, CTVA, LEN, MSFT, MUFG, QCOM, STZ, TDY, USB	Agriculture, Banking, financials, Homebuilders, technology, value	Lennar demonstrated strong performance with dynamic pricing models and digital marketing platforms driving volume and cash flow generation. The company delivered 73,000 homes in 2023 with a 10% year-over-year increase, while advancing its land light strategy with 76% of land controlled through options. Management's ability to respond to changing housing dynamics positions the company well amid decade-long undersupply of homes in the U.S.	USB TDY	View
2023 Q2	Jan 7, 2023	Manole Capital Management	0.0%	0.0%	AAPL, AMZN, BAC, COF, GOOGL, INTU, JPM, MA, META, MSFT, NVDA, PACW, PNC, PYPL, SCHW, SQ, SYF, USB, V, WFC	Banking, credit, Digital Wallets, Federal Reserve, Fintech, inflation, payments, technology	Manager discusses digital wallets, P2P payments, and how fintech companies like PayPal and Square are trying to become online banks. Emphasizes transaction-based businesses with recurring revenue as preferred investments over traditional credit-sensitive banks.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	Aristotle Value Equity Fund	U.S. Bancorp	Banks	Diversified Banks	Bull	NYSE	banking, California, Deposit Share, fee income, operating efficiency, regional bank, shareholder returns, synergies, Union Bank Acquisition, Value, West Coast	View Pitch
Apr 28, 2026	Fund Letters	Madison Investors Fund	U.S. Bancorp	Financials	Banks	Bull	NYSE	Asset-Liability Management, Bank, Banking Crisis, contrarian, Deposit, FDIC, financials, Regulatory, Value	View Pitch
Apr 28, 2026	Fund Letters	Madison Sustainable Equity Fund	US Bancorp	Financials	Banks	Bull	NYSE	acquisition, banking, conservative lending, credit quality, Liquidity, regional bank	View Pitch
Apr 27, 2026	Fund Letters	Madison Investors Fund	U.S. Bancorp	Financials	Banks	Bull	NYSE	Asset-Liability Management, Bank, Contagion Risk, Crisis, Deposits, FDIC, financials, Regulatory	View Pitch
Apr 27, 2026	Fund Letters	Madison Sustainable Equity Fund	US Bancorp	Financials	Banks	Bull	NYSE	A- credit rating, banking, conservative lending, defensive, financial strength, Liquidity Coverage, Union Bank Acquisition	View Pitch
Apr 13, 2026	Fund Letters	Meridian Hedged Equity Fund	U.S. Bancorp	Financials	Banks	Bull	NYSE	banking, Deposit Mix, dividend, Expense Control, financial services, net interest income, profitability	View Pitch
Sep 16, 2025	Short Thesis	HoldCo Asset Management	US Bancorp	Financials	Regional Banks	Bear	NYSE	Banks, CRE, Deposits, Margins, Regulation	View Pitch
Aug 8, 2025	Seeking Alpha	Daniel Urbina	U.S. Bancorp	Financials	Banks - Regional	Neutral	NYSE	—	View Pitch
Aug 7, 2025	Seeking Alpha	Joseph E. Jones	U.S. Bancorp	Financials	Banks - Regional	Bull	NYSE	—	View Pitch

BSD Shareholders of USB

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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