WAB

WAB

WAB

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 22, 2025	Janes Henderson Global Sustainable Equity Fund	13.8%	15.5%	1299.HK, AJG, APG, ICLR, MCK, MMC, MSFT, NVDA, PGR, PRY.MI, SGO.PA, SPOT, SU.PA, TMUS, TSM, UBER, WAB	AI, Energy Transition, Esg, global, growth, Quality, sustainability, technology	AI growth narrative recovered after initial concerns around Chinese AI tool DeepSeek dissipated. Many AI-exposed companies reported impressive earnings and guided for increased spending on AI, while companies across sectors increased AI adoption for business efficiencies. TSMC benefited as a critical enabler of the rapidly expanding AI infrastructure ecosystem.		View
2025 Q2	Jun 30, 2025	PivotalPath	-	-	CP, LUV, NVDA, UAL, WAB	Asia, Hedge Funds, momentum, Performance, technology, Trade Policy, Transportation, volatility	Transportation sector delivered exceptional performance with 20.71% returns in May, outpacing tech's resurgence. Hedge funds are positioned in AI-adjacent infrastructure logistics plays and capacity-related airline trades. The sector benefits from increased US industrial activity across manufacturing and infrastructure projects, with strong earnings from companies like Wabtec and Canadian Pacific Kansas City.		View
2024 Q1	May 9, 2024	Rewey Asset Management	9.8%	18.5%	8035.T, AMAT, ARIS, CAT, COLB, GE, LRCX, MKSI, RELL, WAB	Banking, Commercial real estate, energy, semiconductors, small caps, value, water	RELL is suffering from significant investor neglect due to the downcycle in the semiconductor capital equipment cycle. The manager sees substantial recovery potential as the cycle turns, with the CHIPS Act, AI, PC refresh cycle, 5G, EVs and autonomous driving as drivers. RELL's customers like LRCX are trading at all-time highs while RELL trades near multi-year lows.	RELL COLB ARIS	View
2025 Q1	May 31, 2025	Janes Henderson Global Sustainable Equity Fund	0.0%	0.0%	AAPL, APG, ICLR, LLY, MCK, NXT, PGR, PRY.MI, STN, SU.PA, UNH, WAB	AI, Energy Transition, Esg, growth, industrials, sustainability	The fund benefits from investments in renewable energy infrastructure including solar trackers, cables for wind and solar projects, and companies enabling the broader energy transition. Nextracker's solar tracker solutions and Prysmian's cables for renewable energy projects demonstrate strong performance in this theme.	PGR MCK ICLR APG PRY.MI NXTR	View
2025 Q1	Apr 16, 2025	The Bristol Gate U.S. Equity Strategy	-0.5%	-0.5%	AMAT, AVGO, CSX, CTVA, DOL.TO, DPZ, GE, IFC.TO, JWEL.TO, LLY, LOW, MA, MCHP, MCK, MCO, MMC, MSCI, PBH.TO, SJ.TO, TFII.TO, WAB, X.TO	AI, dividends, growth, healthcare, semiconductors, tariffs, value	Bristol Gate focuses on companies with positive dividend growth potential, with eight holdings announcing dividend increases in Q1 averaging approximately 15%. The strategy prioritizes companies capable of sustained high dividend growth over traditional defensive sectors offering higher yields but lower growth potential.	DPZ WAB LLY	View
2025 Q1	Mar 31, 2025	Artisan Global Discovery	-3.7%	-3.7%	ARIS, ASND, BAB.L, CCCS, GWRE, ILMN, IRTC, MTSI, PRCT, PSTG, SAIA, SE, SPOT, TTI, TWST, TYL, USFD, VEEV, WAB, WST	AI, Biotechnology, defense, global, healthcare, SMID Cap, technology, Trade Policy	Defense spending is accelerating globally with increasing defense budgets benefiting companies like Babcock. The European Commission announced an €800 billion plan to boost defense spending, and Germany plans to relax debt brakes for defense investments.		View
2024 Q4	Jan 21, 2025	The Bristol Gate U.S. Equity Strategy	-5.2%	9.1%	AMAT, ATD.TO, AVGO, BN.TO, CARR, CIGI.TO, CNR.TO, CSX, CTAS, CTVA, DOL.TO, EFN.TO, EQB.TO, ESL.TO, IFC.TO, LLY, MCHP, MCK, OTEX.TO, PBH.TO, SJ.TO, TFII.TO, TRI.TO, UNH, V, WAB, WCN, X.TO, ZTS	AI, Concentration, dividends, semiconductors, underperformance, value	Bristol Gate focuses on companies with sustainable and fast-growing dividend streams, believing dividend growth rates are good predictors of returns over time. Their portfolio companies grew dividends by approximately 15% over the last twelve months compared to 6% for the S&P 500 Index.		View
2024 Q3	Sep 30, 2024	Carillon Eagle Mid Cap Growth Fund	0.0%	0.0%	ARES, AXON, BKR, CELH, COR, CRWD, DXCM, ENTG, FICO, GEV, GWW, RBA, RCL, ROST, SNPS, TTD, VST, WAB, WCN	AI, energy, growth, healthcare, industrials, mid cap, semiconductors, technology	The dramatic growth in AI infrastructure investment remains a dominant theme in the market, with hundreds of billions being invested by mega-cap tech companies. The fund holds positions well positioned to benefit from this trend, though managers remain vigilant of potential drawdown risks in AI winners.	ENTG SNPS CRWD CELH DXCM WAB FICO VST AXON GEV	View
2024 Q2	Jul 26, 2024	Carillon Eagle Mid Cap Growth Fund	0.0%	0.0%	ALNY, BKR, CELH, COR, CRWD, DASH, DXCM, ENTG, FIVE, GEV, MPWR, RBA, ROST, SNPS, TYL, ULTA, WAB, WCN	AI, energy, growth, healthcare, industrials, mid cap, technology	The fund continues to see strong momentum within the AI data center buildout megatrend. The enormous power requirements of AI data centers have positive implications for a broader group of stocks extending across energy, industrials and utilities. The portfolio is well positioned to benefit from this theme as the surge in capital spending plans from mega-cap tech companies holds significant positive implications for several holdings within the electrical equipment and power generation industries.		View
2025 Q1	Mar 31, 2025	Carillon Eagle Mid Cap Growth Fund	-	-	APP, ARES, AXON, BKR, CELH, COR, DDOG, DECK, ITCI, LPLA, MRVL, PLTR, RBA, TTD, WAB, WCN	AI, energy, growth, healthcare, mid cap, technology, Trade Policy	The fund remains optimistic on AI investment cycle despite market concerns about slowing hyperscaler spending. They believe the investment cycle to support AI technology is still in early innings and expect continued buildout of data centers and related infrastructure.		View
2024 Q4	Jan 17, 2025	Carillon Eagle Mid Cap Growth Fund	-	-	APP, ARES, AXON, BAH, BKR, COR, ENTG, FND, GWW, LPLA, MPWR, MRVL, RBA, RCL, TTD, WAB, WING	AI, consumer, financials, growth, healthcare, mid cap, semiconductors, technology	AI investment theme drove significant market returns in 2024, with one major chip designer's data center revenues expected to represent 15% of total US capital spending in 2025. Hyperscalers need to generate $400 billion in revenue from AI to justify current spending levels, though user surveys suggest GenAI applications are meeting or exceeding expectations across industries.	MRVL AXON APP	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	The Bristol Gate U.S. Equity Strategy	Westinghouse Air Brake Technologies Corp.	Industrials	Industrial Machinery	Bull	NYSE	Bull, Dividend Growth, Industrial, infrastructure, Rail Technology, recurring revenue	View Pitch
Apr 13, 2026	Fund Letters	Carillon Eagle Mid Cap Growth Fund	Wabtec	Industrials	Industrial Machinery	Bull	NYSE	Digital Solutions, Freight Rail, Industrial Equipment, Locomotives, Modernization, rail industry, Transit Systems, Transportation	View Pitch
Sep 9, 2025	Seeking Alpha	Seeking Alpha	Westinghouse Air Brake Technologies Corporation		Railroads	Bull		backlog, Digital Intelligence, earnings growth, international demand, organic growth, rail industry, strategic acquisitions, supply chain, valuation, Wabtec	View Pitch
Aug 8, 2025	Seeking Alpha	Marc Gerstein	Westinghouse Air Brake Technologies	Industrials	Railroads	Bull	NYSE	—	View Pitch

BSD Shareholders of WAB

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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