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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 22, 2025 | Longleaf Partners Small-Cap Fund | 2.7% | 4.2% | BATRA, CNX, CUERVO.MX, DOLE, GHC, GRUMA.MX, KODK, MAT, OSCR, PCH, SAM, TRIP, WEST, WTM | Alcohol, Buybacks, real estate, small caps, undervalued, value | The fund has an overweight to the alcohol industry with Boston Beer and Becle. There is market debate about whether current weak industry trends are cyclical versus structural factors, with the manager leaning toward cyclical explanations. | PCH SAM WEST BATRA BECLE.MX OSCR PCH SAM WEST BATRA CUERVO MM OSCR |
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| 2024 Q1 | May 7, 2024 | Longleaf Partners Small-Cap Fund | 8.9% | 11.5% | BATRA, CNX, DEI, GHC, GRUMAB, H, HOUS, IMKTA, KODK, MAT, OSCR, PK, SAM, WEST, WTM | Buybacks, insurance, Natural Gas, real estate, small caps, value | Fund focuses on carefully constructed portfolio that looks very little like any index, seeking 60 cent dollars while maintaining investment discipline in a fully priced market. Portfolio companies are growing their value per share while management partners take action to realize value via discounted share buybacks. | HOUS WTM CNX OSCR |
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| 2025 Q1 | Apr 12, 2025 | Longleaf Partners Small-Cap Fund | 1.5% | 1.5% | BATRA, CNX, DOLE, GHC, GMAB, KODK, MAT, PCH, PK, SAM, WEST, WTM | Buybacks, downside protection, Outperformance, small caps, stock picking, value | The fund emphasizes value investing discipline and downside protection. The portfolio's price-to-value ratio in the high-60s% is attractive and improved materially after quarter end. The fund continues to focus on companies trading below intrinsic value with substantial opportunity in the current portfolio. | PK CNX SAM PCH GRUMAB.MX GHC |
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| 2023 Q3 | Dec 10, 2023 | Longleaf Partners Small-Cap Fund | 8.9% | 11.5% | BATRA, CNX, DOOR, ESRT, GHC, GRUMAB, KODK, LUMN, MAT, OSCAR, SAM, WEST, WTM | consumer, discount, energy, Entertainment, Quality, small caps, value | Small-cap stocks remained out of favor as they continue to be viewed as more volatile, cyclical businesses, while a small handful of US mega-cap stocks have dominated markets. This wide valuation gap has created a compelling opportunity to own high-quality small-cap businesses trading at a steep discount. | WEST OSCR AMAT SAM CNX |
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| 2024 Q3 | Oct 16, 2024 | Longleaf Partners Small-Cap Fund | 8.9% | 11.5% | BATRA, CNX, DOLE, GHC, GRUMA, H, HHH, HOUS, IMKTA, KODK, LLYVA, LMCA, MAT, OSCR, PCH, PK, SAM, WEST, WMT | Buybacks, Coffee, healthcare, Natural Gas, real estate, small caps, value | Fund focuses on small-cap stocks with 19 holdings and P/V ratio in low-70s%. Manager welcomes volatile small-cap environment that presents attractive opportunities to enhance portfolio with undervalued, high-quality businesses. Holdings consist of competitively advantaged businesses with strong balance sheets. | WEST HOUS CNX OSCR |
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| 2025 Q3 | Oct 15, 2025 | Longleaf Partners Small-Cap Fund | 2.0% | 6.4% | BECLE.MX, CLW, CNX, GHC, GRUMAB.MX, H, KODK, MAT, OSCR, PCH, PK, RYN, TRIP, WEST, WTM | Alcohol, Buybacks, energy, FCF, insurance, small cap, Timberland, value | Fund focuses on investments grounded in real assets and brands producing growing free cash flow, trading at 10-12x FCF today with potential to reach mid-teens FCF multiples. Portfolio P/V ratio in high-60s% indicates significant discount to intrinsic value. | TRIP US MAT US WFG US CNX US |
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| 2023 Q3 | Sep 30, 2023 | Baron Growth Fund | 11.1% | 7.4% | ACGL, ALTR, ANSYS, BFAM, BIO, CHH, CSGP, DNUT, FDS, FIGS, IDXX, IRDM, IT, KNSL, LFUS, MORN, MSCI, MTD, MTN, NEOG, TREX, VLD, WEST | financials, growth, Long Term, small cap, technology | Management teams are allocating time and capital to develop AI capabilities, with product development roadmaps coming into focus. FactSet Research Systems outlined its vision for AI with multiple product enhancements including conversational user interfaces, next best action capabilities, and AI-derived presentation tools. | View | |
| 2024 Q2 | Jul 23, 2024 | Longleaf Partners Small-Cap Fund | 8.9% | 11.5% | BATRA, CNX, DEA, GHC, GRUMA, HOWE, KODK, MAT, OSCR, PCH, PK, WEST, WTM | energy, healthcare, materials, real estate, small caps, value | Fund focuses exclusively on small-cap investments with 19 holdings and P/V ratio in low-60s%. Manager believes environment becoming increasingly favorable for bottom-up stock pickers as Treasury rates stabilize at historical norms. Over 50% of portfolio NAV is in investments with heightened odds of value-realizing corporate events in next 6-12 months. | PCH MAT HOUS KODK OSCR |
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| 2023 Q2 | Jul 19, 2023 | Longleaf Partners Small-Cap Fund | 8.9% | 11.5% | BATRA, CNX, ESRT, GMK, H, HOUS, KODK, LUMN, LXS.DE, MAT, OSCR, SAM, WEST, WTM | concentrated, Consumer Staples, Defensive, real estate, small cap, value | Fund maintains concentrated portfolio of 18-22 ideas trading at discount to intrinsic value. Portfolio P/V ratio in mid-60s% indicates significant upside potential. Management emphasizes buying high quality businesses at temporary discounts with 3-5 year investment horizon. | LUMN SAM LXS.DE HOUS BATRA OSCR |
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| 2023 Q1 | Apr 20, 2023 | Longleaf Partners Small-Cap Fund | 8.9% | 11.5% | BATRA, CNX, GRUMA, H, HOUS, KODK, LNXSF, LUMN, MAT, OSCR, WEST, WTM | Banking, Concentration, small caps, technology, value | Fund focuses on concentrated portfolio of 18-22 best ideas meeting Business, People, Price investment criteria. Managers invest with 3-5 year horizon taking advantage of short-term volatility to own high quality businesses trading at discount. Portfolio has low-60s% P/V ratio indicating significant discount to intrinsic value. | LUMN ^HSI OSCR |
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| 2025 Q1 | Mar 31, 2025 | Artisan Mid Cap Fund | -7.4% | -7.4% | ANET, AZO, BBY, BFAM, BKR, CCCS, COHR, DASH, DDOG, DECK, GWRE, ILMN, MRVL, ONTO, PLTR, PSTG, SAIA, SNOW, SPOT, TYL, VEEV, VHI, WEST | AI, Cloud, energy, growth, healthcare, mid cap, tariffs, technology | The fund experienced significant challenges from AI-related holdings as China's DeepSeek AI model disrupted assumptions about data center spending durability. Companies leveraged to data center spending like Arista Networks, Pure Storage, Coherent and Onto Innovation declined, while Marvell was punished despite strong earnings due to high AI expectations. | View | |
| 2023 Q4 | Jan 17, 2024 | Longleaf Partners Small-Cap Fund | 8.9% | 11.5% | ARE, CNX, DEI, ESRT, GHC, GRUMAB, H, IMKTA, KNF, KODK, LUMN, MAS, MAT, OHI, PK, SAM, WEST, WTM | Buybacks, Hotels, Quality, real estate, small caps, value | The fund emphasizes their Business, People, Price discipline and differentiated approach to value investing. They focus on hidden quality companies with management teams that will take steps to get that quality recognized by the market over the medium to long term. The fund believes they are well positioned for the return of value investing as interest rates normalize. | WEST ^HSI ESRT GRUMAB KNF OSCR |
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| 2024 Q4 | Jan 16, 2025 | Longleaf Partners Small-Cap Fund | -1.6% | 9.7% | BATRA, CNX, DOLE, GHC, GRUMA.MX, HHH, HOUS, KODK, LLYVA, MAT, OSCR, PCH, PK, WEST, WTM | Buybacks, Cash, Concentration, Natural Gas, small cap, Trump, value | Fund operates with concentrated value investing approach, holding 18 positions at high-60s% price-to-value ratio and 11x price/earnings power multiple. Portfolio grouped into companies where value per share growth has turned the corner (75%), those expected to turn within 18 months (15%), and recent additions. Management emphasizes fundamental appraisal-driven research and patient capital deployment. | GRUMAB WEST HOUS GHC KODK LLYVA OSCR CNX |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Longleaf Partners Small-Cap Fund | Westrock Coffee | Consumer Staples | Packaged Foods & Meats | Neutral | NASDAQ | B2B Supplier, capacity expansion, Coffee Processing, cyclical headwinds, Flavors and Ingredients, Single Serve, Volume Pressure | View Pitch |
| Apr 28, 2026 | Fund Letters | Longleaf Partners Small-Cap Fund | Westrock Coffee | Consumer Staples | Food Products | Bull | NASDAQ | B2b, Beverages, Coffee, Food Products, Higher Value Products, manufacturing, Plant Expansion, Private-label | View Pitch |
| Apr 13, 2026 | Fund Letters | Longleaf Partners Small-Cap Fund | Westrock Coffee | Consumer Staples | Packaged Foods & Meats | Bull | NASDAQ | Business Diversification, cash flow generation, Coffee Producer, Facility Expansion, insider buying | View Pitch |
| Apr 13, 2026 | Fund Letters | Longleaf Partners Small-Cap Fund | Westrock Coffee | Consumer Staples | Food Products | Bull | NASDAQ | capacity expansion, Coffee Processing, Conway Facility, Free Cash Flow, leverage, operational challenges, Private-label | View Pitch |
| Apr 13, 2026 | Fund Letters | Longleaf Partners Small-Cap Fund | Westrock Coffee | Consumer Staples | Food Products | Bull | NASDAQ | Brand Behind Brand, capacity expansion, Co-Manufacturing, Coffee, consumer staples, Free Cash Flow, Private-label, turnaround | View Pitch |
| Mar 16, 2026 | Substack | Toff Cap Monday Monitor | Westrock Coffee Company | Consumer Staples | Beverages | Bull | NASDAQ Stock Market | beverage market, cash flow generation, consumer staples, earnings growth, growth potential, insider buying, market opportunities, operational efficiencies, valuation, Westrock Coffee | View Pitch |
| Jan 21, 2026 | Substack | Toff Cap Monday Monitor | Westrock Coffee Company | Consumer Staples | Beverages | Bull | NASDAQ Stock Market | beverages industry, Coffee, EBITDA growth, extracts, financial performance, Growth Opportunities, insider buying, market presence, tea, valuation | View Pitch |
| Jan 8, 2026 | Fund Letters | Ross Glotzbach | Westrock Coffee Company | Consumer Staples | Food & Beverage Processing | Bull | NASDAQ | Capacity, cashflow, Coffee, Execution, Insider_Buying | 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. | ||||||||