VLO

VLO

VLO

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q2	Jun 30, 2025	Barometer Capital Management Inc.	-	-	AVGO, COST, DIS, DOL, ETN, LLY, MSFT, MSI, NVDA, TRI CN, VLO	-			View
2025 Q4	Feb 8, 2026	Auxier Asset Management	2.0%	15.2%	BK, BRK-A, BTI, C, CAT, CVX, FI, GE, GLW, GOOGL, HD, LOW, MSFT, MU, NOW, PH, QCOM, RTX, UNH, VLO	AI, Banking, Buybacks, defense, energy, healthcare, technology, value	Technology hyperscalers spent close to $400 billion in 2025 on AI infrastructure with potential to reach $527 billion in 2026. However, an MIT study found 95% of generative AI pilots failing to deliver measurable returns, raising concerns about overinvestment similar to the dot-com era. Supply demand dynamics favored US stocks with $1.1 trillion in total stock buybacks versus only $46 billion in IPOs. Energy leaders like Chevron rewarded shareholders with aggressive stock buybacks alongside strong production and growing dividends. Over 100 countries dramatically increased defense spending in 2025, providing a boost for the aerospace and defense sector. Jet engine production and maintenance soared, benefiting firms like Parker Hannifin, GE, RTX and Berkshire's Precision Castparts. In the fourth quarter, investors shifted toward undervalued, high-quality companies with strong free cash flow yields. Healthcare led with an 11.25% catch-up return as its valuation metrics remain at a significant discount to the broader market. Larger banks enjoyed steepening yield curves and robust capital markets activity, with Bank of New York and Citigroup showing strong fundamentals at cheap valuations. JPMorgan predicts a breakout year for IPOs in 2026 with names like SpaceX, OpenAI and Anthropic potentially entering the market.		View
2025 Q3	Oct 20, 2025	RS Large Cap Val Strategy	4.5%	9.9%	LKQ, VLO	energy, Quality, ROIC, tariffs, value	RS underperformed its benchmark as consumer and industrial names lagged, though holdings like Valero Energy performed well. The team sees long-term value opportunities in companies with strong ROIC and balance sheets amid tariff-driven volatility and moderate inflation. Managers remain focused on quality large caps with improving capital efficiency.	LKQ VLO LKQ VLO	View
2025 Q4	Jan 24, 2026	Miller Howard North American Energy Fund	1.0%	6.1%	CHRD, CNQ, CVE, CVX, EQT, GPOR, HES, LBRT, MPC, OKE, OXY, PBA, PSX, RRC, SM, SU, VLO, XOM	Data centers, dividends, energy, Natural Gas, North America, oil, Refiners	Pressure pumpers are seeing growing interest in supplying power to data centers under long-term contractual arrangements. Mobile generation equipment can be deployed within weeks at competitive efficiency levels. Liberty Energy announced a positive 1GW data center power generation project by year-end 2027. Natural gas prices rallied sharply amid a cold start to winter in the US, supported by strong LNG exports and rising data center power demand. The portfolio reduced natural gas price exposure by selling EQT Corp and trimming Range Resources Corp. Oil prices drifted lower on a near-term supply glut and closed the quarter in the mid-$50/bbl range. Adjusted for inflation, prices are near century lows. At current prices, E&Ps are expected to further rein in production with US supply likely to decline in 2026. The portfolio increased Valero and Phillips 66 on strong refinery dynamics. Marathon Petroleum had a rare refinery earnings miss on operational items believed to be one-time, with favorable 2026 capex guidance. The portfolio currently offers an indicated yield of 3.2% that is well supported down to roughly $45/bbl oil, with potential for significantly larger variable capital returns at higher commodity prices. Suncor Energy raised its dividend 5.3% amid strong buybacks.		View
2025 Q4	Jan 21, 2026	Guinness Global Energy	0.0%	9.0%	BP, CNQ.TO, COP, CVX, FANG, SHEL, SU.TO, TTE, VLO, XOM	energy, Exploration, Gas, Integrated, oil, Production	The letter positions global energy equities as long-term beneficiaries of population growth, industrialization, and constrained fossil fuel supply, which together support structurally higher energy prices. Energy companies are viewed as a partial hedge against inflation given their linkage to real assets and commodity pricing. A disciplined, value-biased approach combines top-down energy market analysis with bottom-up stock selection in a concentrated portfolio of large, established energy producers.		View
2024 Q3	Sep 30, 2024	Barometer Capital Management Inc.	-	-	AVGO, BWXT, CCO, CIBC, GE, HWM, NEE, NVDA, PGR, QCOM, TRP, VLO	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 8, 2026	Seeking Alpha	Seeking Alpha	Valero Energy Corporation	Energy	Oil & Gas Refining & Marketing	Bear	New York Stock Exchange	Energy Sector, geopolitical impact, heavy crude refining, heavy oil discount, infrastructure challenges, market overvaluation, oil market speculation, Price-to-Sales Ratio, Valero Energy Corporation, Venezuelan oil	View Pitch
Nov 29, 2025	Fund Letters	Robert J. Harris	Valero Energy Corporation	Energy	Oil & Gas Refining & Marketing	Bull	NYSE	cashflow, Cost advantage, Decarbonization, Diesel, energy, FCF, Margins, refining, shareholder returns, valuation	View Pitch
Nov 28, 2025	Fund Letters	Robert J. Harris	Valero Energy Corporation	Energy	Oil & Gas Refining & Marketing	Bull	NYSE	cashflow, Cost advantage, Decarbonization, Diesel, energy, FCF, Margins, refining, shareholder returns, valuation	View Pitch
Aug 7, 2025	Seeking Alpha	On the Pulse	Valero Energy	Energy	Oil & Gas Refining & Marketing	Bull	NYSE	—	View Pitch

BSD Shareholders of VLO

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.

Join for free and get access to the buyside

Get insights from the world's most influential hedge fund investors direct to your inbox

Follow Us On: