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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2023 Q3 | Sep 30, 2023 | Contrarius Global Equity Fund | -1.9% | 8.9% | AMZN, AWS, WMT | - | View | ||
| 2024 Q1 | Apr 27, 2024 | Montaka Global Investments | - | - | AAPL, AMD, BX, KD, MC FP, WMT | - | View | ||
| 2024 Q1 | Apr 15, 2024 | Cove Street Capital Small Cap Value Fund | 3.7% | -6.0% | CLMB, CMP, DCO, GLDD, HNRG, LFCR, LTRPA, PKE, RDVT, SSP, TBRG, TRU, VSAT, WMT | - | View | ||
| 2023 Q4 | Feb 21, 2024 | Eagle Capital Management, LLC | 10.2% | 38.1% | BRK/A, WMT | - | View | ||
| 2024 Q4 | Dec 4, 2025 | Saga Partners | - | 112.2% | AMZN, BRK/A, CVNA, ROKU, TRUP, TTD, WISE LN, WMT | - | View | ||
| 2025 Q4 | Jan 6, 2026 | Lansing Street Advisors | 0.0% | 0.0% | COST, CSCO, NVDA, WMT | AI, Bitcoin, demographics, Leverage, Options, Predictions, technology, Valuations | The manager extensively compares current AI valuations to the 1999 internet bubble, arguing AI represents a trend rather than a fad. Technology companies have doubled net income over four years and grown earnings 550% since 2008, demonstrating sustainable profitability unlike the dot-com era where 74% of internet companies had negative cash flows. Bitcoin declined roughly 6% in 2025 despite widespread price targets of $200,000 from major firms and up to $1.5 million by 2030 from Cathie Wood. The manager uses Bitcoin's volatile history to illustrate the futility of one-year predictions for highly speculative assets. | View | |
| 2024 Q4 | Jan 6, 2025 | LRT Capital Management | 0.0% | 15.8% | AAPL, TSLA, WMT | - | View | ||
| 2025 Q4 | Jan 29, 2026 | Ashva Capital Management | 0.0% | 0.0% | AAPL, AMD, AMZN, COST, CSCO, DIS, GOOGL, HIMS, META, MU, NFLX, NVDA, PLTR, SPOT, UBER, WMT, ZG | AI, Compounding, long-term, Quality, semiconductors, technology, US, value | The manager discusses whether AI represents a bubble, comparing current valuations to traditional retailers like Costco and Walmart trading at higher forward P/E multiples than NVIDIA. He argues that we cannot be in an AI bubble when defensive stocks trade at higher multiples than leading AI companies. The discussion emphasizes that AI-driven demand is creating structural changes in memory and semiconductor markets. Memory semiconductors are highlighted as no longer being a commodity business driven by PC cycles, but rather a strategic input for AI, cloud infrastructure, and data-intensive workloads. The supply side has consolidated with fewer rational players, higher capital intensity, and better pricing discipline. Micron is positioned to benefit from AI-driven demand and improved industry structure. The manager emphasizes owning high-quality U.S. businesses that compound intrinsic value over time. He argues that obvious, high-quality businesses are not a failure of imagination but recognition of reality, as the modern internet economy rewards scale and dominant positions. Quality businesses can deliver asymmetric returns through duration of dominance. Valuation discipline is emphasized as critical to long-term success, with the manager noting that overpaying can cause long-term returns to go sideways. The portfolio deliberately avoided chasing narrow market leadership at elevated valuations, accepting short-term underperformance to preserve long-term risk-adjusted outcomes. Value creation comes from buying quality businesses at rational prices. | DIS AMD MU |
View |
| 2025 Q4 | Jan 24, 2026 | Miller Howard Investments | - | - | AAPL, AMZN, BAC, BRK-B, GOOG, GOOGL, JNJ, JPM, META, MSFT, NVDA, PG, TSLA, WMT, XOM | Concentration, dividends, Indices, Magnificent 7, nuclear, SMRs, value | The US is on the cusp of a nuclear renaissance driven by rising electricity demand, policy support, and emerging technologies like small modular reactors. Nuclear capacity could quadruple by 2050, though regulatory, economic, and execution risks remain significant challenges. Miller/Howard maintains strict dividend focus across portfolios, avoiding Magnificent 7 stocks in income-oriented strategies. The firm emphasizes high current income and growth of income as core differentiators in an increasingly concentrated market. Index reconstitutions have compromised style integrity by adding growth-oriented Magnificent 7 stocks to value indices. This creates concentration risk and challenges traditional value investing principles based on lower valuations and higher dividend yields. | View | |
| 2025 Q4 | Jan 2, 2026 | Oak Ridge Investments, LLC | 0.0% | 0.0% | CSCO, TGT, WMT | AI, Fed policy, growth, healthcare, technology, Valuations | AI is for real and will rapidly grow into everyday lives, continuing to threaten jobs while creating opportunities to improve quality of life. Success breeds competition and margin pressure hits profits. The best performing stocks will be those in their respective industries that do a better job than their peers utilizing technology. Healthcare stocks soared during the fourth quarter and provided the best returns by far. Performance was led by weight loss companies, European pharmaceuticals with positive phase three trials, and breakthrough biotech innovators in autoimmune disease. The sector is expected to lead in the year ahead. Technology and Communication Services remained recipients of majority of Capex spending. Mega cap Tech leaders saw earnings grow 31% and stocks advance 24%, lowering P/Es to reasonable levels. Larger cap Technology companies should continue to lead the market despite being an enormous part of the growth benchmark. Valuations do matter, as evidenced by Cisco Systems finally reaching new highs over 25 years after its Bubble Peak. The market has assigned a 40 P/E ratio to Walmart compared to 15X multiple on struggling Target. Leadership has been among lower quality, higher volatility names trading at extremely high valuations. | View | |
| 2025 Q4 | Jan 16, 2026 | GDS Investments | - | - | ABNB, AMZN, CRWV, DEO, F, GE, GM, GOOGL, LEN, NVO, ORCL, RIVN, STZ, TDW, TREX, VAL, WMT, ZTS | AI, Buybacks, cyclicals, Electric Vehicles, Quality, Rotation, technology, value | AI-related infrastructure investment is beginning to unwind or recalibrate, with companies shifting from internal cash flows to debt financing. The manager expects a widening gap between pure AI infrastructure companies and those with diversified business models. Market rotation is expected away from speculative AI growth toward more traditional businesses. Share repurchases feature prominently across the portfolio as a signal of management confidence and value creation amplification. Multiple holdings have authorized significant buyback programs, including TDW ($500M), VAL ($600M ongoing), STZ ($4B), and others totaling billions in authorized repurchases. Rivian represents maybe the most exciting position in the portfolio, with the company developing its own autonomy platform and in-house chip (RAP1). The R2 model represents a pivotal moment, and partnerships with Volkswagen and Amazon have strengthened the balance sheet while expanding strategic options. The manager focuses on separating durable value from speculative excess, building positions in under-owned, under-valued businesses with strong balance sheets and leadership positions. The strategy involves finding high-quality businesses facing cyclical headwinds that have pushed market prices below intrinsic value. | RIVN TREX AMZN GOOG |
View |
| 2023 Q4 | Jan 13, 2024 | ClearBridge Investments Small Cap Growth Strategy | 0.0% | 0.0% | BLKB, FF0 GR, IBP, MIRM, NARI, WMT | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 18, 2026 | Seeking Alpha | Seeking Alpha | Walmart Inc. | Retail | Discount Stores | Neutral | New York Stock Exchange | advertising, Amazon competition, e-commerce, fiscal Q4 2026, grocery delivery, profitability, Revenue Growth, stock multiples, valuation, Walmart | View Pitch |
| Oct 23, 2025 | Value Investors Club | anomalo | Walmart Inc. | Consumer Discretionary | Hypermarkets & Super Centers | Bear | NYSE | ads/3P optimism, Aldi/Dollar General, Amazon share, Costco vs. Sam’s, defensive flows., e-commerce margin realism, tariffs, valuation compression, wage inflation | View Pitch |
| Sep 16, 2025 | Short Thesis | NINGI Research | Walmart Inc | Consumer Discretionary | Hypermarkets & Super Centers | Bear | NYSE | Competition, e-commerce, inflation, Margins, retail | View Pitch |
| Aug 13, 2025 | Seeking Alpha | Paul Franke | Walmart Inc. | Consumer Discretionary | Discount Stores | Bear | NYSE | — | View Pitch |
| Aug 13, 2025 | Seeking Alpha | The Alpha Analyst | Walmart Inc. | Consumer Discretionary | Discount Stores | Neutral | NYSE | — | View Pitch |
| Aug 13, 2025 | Seeking Alpha | Bay Area Ideas | Walmart Inc. | Consumer Discretionary | Discount Stores | Bear | NYSE | — | View Pitch |
| Aug 13, 2025 | Seeking Alpha | APAC Investment News | Walmart Inc. | Other | - | Bear | NYSE | — | View Pitch |
| Aug 8, 2025 | Seeking Alpha | Max Greve | Walmart Inc. | Consumer Discretionary | Discount Stores | Bear | NYSE | — | View Pitch |
| Aug 8, 2025 | Seeking Alpha | The Techie | Walmart | Consumer Discretionary | Discount Stores | Bear | NYSE | — | View Pitch |
| Aug 8, 2025 | Seeking Alpha | Parnassus Investments | Walmart Inc. | Consumer Discretionary | Discount Stores | Bull | 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. | ||||||||