USLM

USLM

USLM

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 27, 2025	Diamond Hill Small Cap Fund	11.8%	-1.1%	BA, COOP, DCO, FIP, HURC, LEU, MLAB, OEC, RHP, RRR, TBK, USLM	AI, defense, materials, nuclear, small caps, technology, value	AI-fueled boom had widespread effects across sectors, with technology companies continuing their torrid run as sentiment around AI's potential to radically change life remains high. Nuclear fuel provider Centrus Energy is benefiting from renewed interest in nuclear power to support growing power demand tied to the AI boom.	HURC MLAB FIP DCO USLM RRR LEU COOP AEO ASUR STRW FBIN AZZ UTZ NSP DCO LEU	View
2026 Q1	Apr 29, 2026	Spheria Global Opportunities Fund	-6.8%	-6.8%	CF, ITRK.L, USLM	energy, Fertilizers, global, Middle East, Quality, small cap, valuation		ITRK.L CF	View
2025 Q1	Mar 31, 2025	Apis Deep Value Fund	1.5%	1.5%	MRNA, PLXS, PWR, USLM	defense, energy, Europe, infrastructure, Long/Short, materials, value	European defense spending is accelerating due to geopolitical tensions and rearmament efforts. Defense names in Korea and Europe performed strongly, with companies like Hyundai Rotem benefiting from military supply contracts to Europe. The defense segment is expected to grow 20-30% annually through 2030.	SRC.L KIT.OL FRW.DE	View
2024 Q4	Dec 31, 2024	Diamond Hill Small Cap Fund	1.0%	13.2%	ALGT, ASH, ASTH, CALM, CMPR, CURB, FIP, GHM, GTES, HAYN, LEU, LOB, MLAB, RCKY, RRR, SANM, USLM, WNS	defense, industrials, infrastructure, nuclear, small caps, value	Growing momentum around building additional nuclear power sources in the United States as immense power needs from AI-related datacenter demand require constant baseload power, which nuclear provides carbon-free. Centrus Energy benefited from this trend.	CURB CMPR MLAB FTAI USLM	View
2025 Q3	Oct 30, 2025	Spheria Global Opportunities Fund	-1.7%	-	CARG, FERG, HEM.ST, ITRK, LPLA, SPNS, UHR.SW, USLM, WMK	AI, fundamentals, global, Quality, risk management, small cap, Speculation, value	Markets remained captivated by the relentless momentum of all things AI, a theme increasingly shaping narratives around productivity, employment, and market structure, even as a growing chorus warned of speculative excess.	USLM LPLA	View
2025 Q3	Oct 24, 2025	Diamond Hill Small Cap Fund	7.9%	6.7%	COOP, DCO, FIP, HURC, LEU, MLAB, OEC, RHP, RRR, TFIN, USLM	AI, defense, nuclear, Quality, small caps, value	The artificial intelligence boom had widespread effects across sectors in Q3, with materials up 25% and technology up over 16%. Technology companies continued their torrid run as sentiment around AI's potential to radically change life remains high. Nuclear fuel provider Centrus Energy is benefiting from renewed interest in nuclear power to support growing power demand tied to the AI boom.	FTAI DCO USLM RRR LEU COOP LEU COOP	View
2024 Q3	Sep 30, 2024	Diamond Hill Small Cap Fund	8.5%	12.2%	ALIT, ASH, ASTH, CIVI, DEI, ENOV, FA, FTAI, IGIC, JLL, LOB, NSP, PAL, PESI, RMNI, USLM	financials, healthcare, industrials, rates, small caps, value	The fund focuses exclusively on small-cap investments, typically companies with market capitalization below $3 billion or within the Russell 2000 Index range. Small-cap stocks outperformed in Q3, with the Russell 2000 Index gaining 9% and value stocks outperforming growth. The manager continues finding compelling new ideas in the small-cap space despite the ongoing bull market.		View
2024 Q2	Jul 26, 2024	Diamond Hill Small Cap Fund	8.5%	12.2%	ALGT, ALNC, ASTH, ENOV, FTAI, KEX, LOB, MAMA, MGY, RCKY, RRR, THR, TKO.TO, USLM	Copper, financials, materials, small caps, underperformance, value	Small caps continue to underperform large caps significantly, with year-to-date underperformance of more than 12 percentage points and 10-year underperformance of about 5.5 percentage points annualized. Small caps are trading near historically low valuation premium relative to large caps, creating compelling investment opportunities for resilient, undervalued small companies.		View
2025 Q1	Apr 15, 2025	Apis Global Discovery Fund	-2.3%	-2.3%	068270.KS, GEO, HCC, PLXS, SN, TALEN, USLM	defense, Energy Transition, Europe, Germany, industrials, infrastructure, small caps, Stimulus	Defense spending is a key growth driver with increased geopolitical tensions driving European rearmament efforts. The fund holds defense names like Hyundai Rotem and Kitron ASA, with the Defense and Aerospace segment expected to grow 20-30% annually through 2030. Management remains confident in long-term defense spending growth despite potential funding volatility.	SRC.L KIT.OL FRW.DE	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Diamond Hill Small Cap Fund	US Lime & Minerals	Materials	Construction Materials	Bull	NASDAQ	construction materials, infrastructure, Lime, Limestone, Louisiana, materials, steel industry, Texas	View Pitch
Apr 13, 2026	Fund Letters	Diamond Hill Small Cap Fund	United States Lime & Minerals	Materials	Construction Materials	Bull	NASDAQ	construction materials, I-35 Corridor, Lime, Limestone, margin expansion, materials, Pricing power, Texas	View Pitch
Nov 29, 2025	Fund Letters	Chris Welch	United States Lime & Minerals Inc.	Materials	Construction Materials	Bull	NASDAQ	construction, Demand, Industrial materials, infrastructure, Pricing, Revenue Growth	View Pitch
Nov 28, 2025	Fund Letters	Marcus Burns	United States Lime & Minerals, Inc.	Materials	Construction Materials	Bull	NASDAQ	Barriers, cashflow, duopoly, materials, Pricing	View Pitch
Aug 8, 2025	Seeking Alpha	Brewvestor Insights	United States Lime & Minerals, Inc.	Materials	Building Materials	Bull	NASDAQ	—	View Pitch

BSD Shareholders of USLM

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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