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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 5, 2025 | Gator Capital Management | 14.5% | 13.8% | WEX | Balance Sheets, fundamentals, mispricing, small caps, value | The letter emphasizes bottom-up value investing in small- and mid-cap companies where market volatility has created pricing inefficiencies. Management argues that disciplined fundamental analysis and a long-term horizon allow investors to exploit temporary dislocations caused by macro uncertainty and sentiment-driven selling. The outlook favors companies with strong balance sheets, owner-oriented management, and clear paths to intrinsic value realization. | VRTS WEX |
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| 2025 Q2 | Jul 17, 2025 | Ariel Small Cap Value Strategy | 7.6% | - | CLB, DNB, FAF, LIND, OSW, REZI, WEX, ZBRA | Discounts, earnings recovery, Mean reversion, small caps, value | The letter argues that small-cap value stocks are trading at historic discounts versus large caps. Management highlights improving earnings, balance sheet repair, and long-term growth resilience. The outlook anticipates meaningful upside as performance gaps narrow. | ZBRA FAF CLB |
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| 2024 Q4 | Dec 31, 2024 | Renaissance Investment Management – Large Cap Growth | - | - | APP, BAH, HCA, PINS, WEX | - | View | ||
| 2024 Q3 | Nov 7, 2024 | Prosper Stars & Stripes | -2.0% | - | BIO, BLFS, CRS, DOCS, FND, NR, PCT, SHC, UPWK, WEX | - | View | ||
| 2025 Q4 | Jan 14, 2026 | 13D Activist Fund | 0.4% | 3.1% | 1944.T, 9501.T, 9531.T, EBCOY, FUN, ITGR, KAEPY, WEX | activism, Japan, semiconductors, small caps, Utilities, value | Shareholder activism continues to grow with 152 campaigns in North America in 2025, a 20.6% increase from 2024. The strategy has evolved from stigmatized to accepted and now necessary as passive investing increases. Non-activist managers are resorting to activism to realize intrinsic value as fewer investors buy and sell based on fundamentals. Japan presents significant opportunities with 76 new activist campaigns in 2025 and 154 live campaigns currently. Japanese companies offer value creation through margin expansion, enhanced capital returns, and improved corporate governance. The fund made its first investments in Japan with Ebara Corporation and Kansai Electric Power Company. Ebara Corporation is a semiconductor capital equipment powerhouse contributing one-third of revenue and over half of operating income. The company forms a duopoly in chemical mechanical planarization with Applied Materials, with AI semiconductors demanding greater CMP intensity offering clear growth runway. Kansai Electric Power Company is Japan's second-largest electric utility and top nuclear power operator with 48% of electrical output from nuclear. The company has favorable characteristics but trades at 0.75x price-to-book with opportunities for improved dividend payouts, capital efficiency, and asset sales. | WEX FUN ITGR 9503 JP 6361 JP |
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| 2024 Q3 | Sep 30, 2024 | Ariel Small Cap Value Strategy | 10.1% | 0.0% | BRC, CLB, JLL, LAZ, LESL, LIND, MHK, WEX | - | View | ||
| 2024 Q2 | Jun 30, 2024 | TimesSquare Capital Management U.S. Mid Cap Growth Strategy | 4.8% | 0.0% | ARGX, BJ, CHE, DASH, FIVE, GFL, GPN, HCP, IBKR, MPWR, NICE, RRX, STVN, TER, VRSK, WEX | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 27, 2026 | Fund Letters | Ken Squire | WEX Inc. | Information Technology | Transaction & Payment Processing Services | Bull | New York Stock Exchange | Activism, Governance, Margins, Payments, spinoff | View Pitch |
| Dec 6, 2025 | Fund Letters | Derek Pilecki | WEX Inc. | Information Technology | Software - Infrastructure | Bull | NYSE | activist, Capital-light, deleveraging, Free Cash Flow, Payments, recurring revenue, valuation | View Pitch |
| Aug 13, 2025 | Seeking Alpha | Alpha Mantra | WEX Inc. | Information Technology | Software - Infrastructure | Neutral | NYSE | — | 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. | ||||||||