tag:blogger.com,1999:blog-85112207378446885522024-03-27T19:53:09.813-04:00Letters and ReviewsFund Manager Letters, Stocks, CEO Letters to Shareholders, 13-FUnknownnoreply@blogger.comBlogger78125tag:blogger.com,1999:blog-8511220737844688552.post-80137627220066456212024-02-04T14:47:00.037-05:002024-03-02T21:16:54.661-05:00Full Lists of Investment Letters<script async="" crossorigin="anonymous" src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-1039680221405690"></script>
<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">4th Quarter 2023</span>
<hr />
<h2><span style="font-weight: normal;">If you enjoy going through 13-F filings, take look at </span><span><i><u><a href="https://lettersandreviews.blogspot.com/p/q1-2023-13f.html" target="_blank">Q1 2023</a>,</u></i></span><span style="font-weight: normal;"> </span><span><i><u><a href="https://lettersandreviews.blogspot.com/p/q2-2023-13f.html" target="_blank">Q2 2023</a>, <a href="https://lettersandreviews.blogspot.com/p/q3-2023-13f.html" target="_blank">Q3 2023</a></u></i></span><span style="font-weight: normal;"> and <i><a href="https://lettersandreviews.blogspot.com/p/q4-2023-13f.html" target="_blank">Q4 2023</a></i> for the </span><span style="font-weight: normal;">13-F Fillers</span><span style="font-weight: normal;"> i read on regular basis.</span></h2>
<h2><span style="font-weight: normal;">Enjoy!!!</span></h2>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th>
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<tr><td><a href="https://stjic.com/wp-content/uploads/2024/01/STJIC-Adviser-Letter-2023-Q4.pdf">St. James Investment Company </a></td><td>1/10/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://east72.com.au/wp-content/uploads/2024/01/E72DT-Quarterly-Report-Dec-2023.pdf">East72 Dynasty Trust</a></td><td>1/10/2024</td><td><a href="https://roic.ai/company/ELFIF" target="_blank">ELFIF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_3b59ba5a2af44c33a772469fd926d545.pdf">Palm Valley Capital Fund</a></td><td>1/10/2024</td><td><a href="https://roic.ai/company/MNRO " target="_blank">MNRO </a><a href="https://roic.ai/company/WLY " target="_blank">WLY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.vltavafund.com/data/dopisy/dopis_78_en.pdf">Vltava Fund</a></td><td>1/10/2024</td><td><a href="https://roic.ai/company/ANCTF " target="_blank">ANCTF </a><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/BRK-B " target="_blank">BRK-B </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/CVS " target="_blank">CVS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fmimgt.com/fmi/corp/Letters/iso_20231231.pdf">Fiduciary Management Inc.</a></td><td>1/10/2024</td><td><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/CARR " target="_blank">CARR </a><a href="https://roic.ai/company/DEO " target="_blank">DEO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.akrefund.com/wp-content/uploads/2024/01/Akre-Focus-Fund-Quarterly-Commentary-2023-Q4.pdf#page=1">Akre Focus Fund</a></td><td>1/10/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q23-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td>1/10/2024</td><td><a href="https://roic.ai/company/NTRS " target="_blank">NTRS </a><a href="https://roic.ai/company/CNC " target="_blank">CNC </a><a href="https://roic.ai/company/CABO " target="_blank">CABO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q23-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td>1/10/2024</td><td><a href="https://roic.ai/company/UGI " target="_blank">UGI </a><a href="https://roic.ai/company/WOW " target="_blank">WOW </a><a href="https://roic.ai/company/CGAU " target="_blank">CGAU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q23-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td>1/10/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.righttailcapital.com/_files/ugd/9593df_1210257b171f44759c94bf60d255e38f.pdf">Right Tail Capital</a></td><td>1/10/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://img1.wsimg.com/blobby/go/c10d5993-4abc-4a97-baea-c72b4e5c6857/Q4%202023-1210de2.pdf">Ace River Capital</a></td><td>1/10/2024</td><td><a href="https://roic.ai/company/VOXR " target="_blank">VOXR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/38846288-7b92-ea49-2e1c-70b4091fc0eb/Fourth_Quarter_2023_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td>1/15/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://covestreetfunds.com/wp-content/uploads/2024/01/CSCAX_2023-12-31_Shareholder_Letter.pdf">Cove Street Capital</a></td><td>1/15/2024</td><td><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/HNGR " target="_blank">HNGR </a><a href="https://roic.ai/company/CJREF " target="_blank">CJREF </a><a href="https://roic.ai/company/SSP " target="_blank">SSP </a><a href="https://roic.ai/company/LTRPA " target="_blank">LTRPA </a><a href="https://roic.ai/company/DLHC " target="_blank">DLHC </a><a href="https://roic.ai/company/OUT " target="_blank">OUT </a><a href="https://roic.ai/company/AVD " target="_blank">AVD </a><a href="https://roic.ai/company/VSAT" target="_blank">VSAT</a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-calendar-quarter-2023/">Oakmark Fund</a></td><td>1/15/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-calendar-quarter-2023/">Oakmark Global Fund</a></td><td>1/15/2024</td><td><a href="https://roic.ai/company/A " target="_blank">A </a><a href="https://roic.ai/company/KR " target="_blank">KR </a><a href="https://roic.ai/company/RHHVF " target="_blank">RHHVF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-calendar-quarter-2023/">Oakmark Global Select Fund</a></td><td>1/15/2024</td><td><a href="https://roic.ai/company/COF " target="_blank">COF </a><a href="https://roic.ai/company/BAYRY " target="_blank">BAYRY </a><a href="https://roic.ai/company/RHHVF " target="_blank">RHHVF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-fund-fourth-calendar-quarter-2023/">Oakmark International Fund</a></td><td>1/15/2024</td><td><a href="https://roic.ai/company/RYAAY " target="_blank">RYAAY </a><a href="https://roic.ai/company/WRDLY " target="_blank">WRDLY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-fourth-calendar-quarter-2023/">Oakmark International Small Cap Fund</a></td><td>1/15/2024</td><td><a href="https://roic.ai/company/KNCRY " target="_blank">KNCRY </a><a href="https://roic.ai/company/VLMTY " target="_blank">VLMTY </a><a href="https://roic.ai/company/LNXSF " target="_blank">LNXSF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-calendar-quarter-2023/">Oakmark Select Fund</a></td><td>1/15/2024</td><td><a href="https://roic.ai/company/AXP " target="_blank">AXP </a><a href="https://roic.ai/company/PAYC " target="_blank">PAYC </a><a href="https://roic.ai/company/PSX " target="_blank">PSX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://sohrapeakcapital.com/wp-content/uploads/2024/01/Sohra-Peak-Capital-Partners-Partnership-Letter-Q4-2023.pdf">Sohra Peak Capital Partners</a></td><td>1/17/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/65a0013d94d71660b426ac81/1704984894354/Upslope+-+2023Q4+Letter.pdf">Upslope Capital Management</a></td><td>1/17/2024</td><td><a href="https://roic.ai/company/CMGMY " target="_blank">CMGMY </a><a href="https://roic.ai/company/NVT " target="_blank">NVT </a><a href="https://roic.ai/company/NNWWF " target="_blank">NNWWF </a><a href="https://roic.ai/company/INTC " target="_blank">INTC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2024/01/4Q-2023-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td>1/17/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2024/01/4Q-2023-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td>1/17/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://distillatecapital.com/wp-content/uploads/2024/01/Q4-2023-Letter.pdf">Distillate Capital</a></td><td>1/17/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.pzena.com/wp-content/uploads/2024/01/PzenaNewsletter-Commentary-4Q23_IP.pdf">Pzena Investment Management</a></td><td>1/17/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://hoisington.com/pdf/HIM2023Q4NP.pdf">Hoisington Investment Management</a></td><td>1/17/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://ensemblefund.com/fourth-quarter-2023-investment-update/">Ensemble Fund</a></td><td>1/17/2024</td><td><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/baron-health-care-fund-quarterly-letter-12.31.23.pdf">Baron Health Care Fund</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/SYK " target="_blank">SYK </a><a href="https://roic.ai/company/IMVT " target="_blank">IMVT </a><a href="https://roic.ai/company/BSX " target="_blank">BSX </a><a href="https://roic.ai/company/SGRY " target="_blank">SGRY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/baron-real-estate-fund-quarterly-letter-12.31.23.pdf">Baron Real Estate Fund</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/AMT " target="_blank">AMT </a><a href="https://roic.ai/company/EQR " target="_blank">EQR </a><a href="https://roic.ai/company/CZR" target="_blank">CZR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonDividendIncome-ISL.pdf">Madison Dividend Income Fund</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonInvestorsFund-ISL.pdf">Madison Investors Fund</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonMidCap-ISL.pdf">Madison Mid Cap Fund</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSmallCap-ISL.pdf">Madison Small Cap Fund</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/MC " target="_blank">MC </a><a href="https://roic.ai/company/LZ " target="_blank">LZ </a><a href="https://roic.ai/company/CHRD " target="_blank">CHRD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSustainableEquityFund-ISL.pdf">Madison Sustainable Equity Fund</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervalue.com/a-broadening-equity-market-favors-value/">Miller Deep Value</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/WAL " target="_blank">WAL </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1705803672956">Miller Income Fund</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/WAL " target="_blank">WAL </a><a href="https://roic.ai/company/BKE " target="_blank">BKE </a><a href="https://roic.ai/company/JXN " target="_blank">JXN </a><a href="https://roic.ai/company/RILY " target="_blank">RILY </a><a href="https://roic.ai/company/OGN " target="_blank">OGN </a><a href="https://roic.ai/company/MED" target="_blank">MED</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/635cafa2259a125cc55eae33/t/65a6f390edbc5e0c300583fb/1705440144388/Atai+Capital+-+Q4-2023+Letter.pdf">Atai Capital Management</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/ALOT " target="_blank">ALOT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/65a83959b024d1051efc13d3/1705523546149/Q42023.pdf">Comus Investments</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets-global.website-files.com/61665daf5ae71578a6b4b2e4/65a46fa7f851dd1700fb7846_Cooper%20Investors%20Global%20Equities%20Fund%20(Hedged)%20-%20Quarterly%20Report%2031%20December%202023.pdf">Cooper Investors Global Equity Fund (Hedged)</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/GEHC " target="_blank">GEHC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets-global.website-files.com/61665daf5ae71578a6b4b2e4/65a46f957a01ae542199d7a3_Cooper%20Investors%20Global%20Equities%20Fund%20(Unhedged)%20-%20Quarterly%20Report%2031%20December%202023.pdf">Cooper Investors Global Equity Fund (Unhedged)</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_74ad2d476ba04640bb8d7a0959e36e51.pdf">Merion Road Capital</a></td><td>1/20/2024</td><td><a href="https://roic.ai/company/SUM " target="_blank">SUM </a><a href="https://roic.ai/company/UNTC " target="_blank">UNTC </a><a href="https://roic.ai/company/NAPA " target="_blank">NAPA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://files.constantcontact.com/e71b08bb301/857f5097-d85f-4548-b353-f5dfcc0b20b8.pdf?rdr=true">Bernzott Capital Advisors</a></td><td>1/27/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.whitefalconcap.com/_files/ugd/2e6ec1_9bbf6064182344cdb29d82e5623fd800.pdf">White Falcon Capital Management</a></td><td>1/27/2024</td><td><a href="https://roic.ai/company/NU" target="_blank">NU</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.okeefestevens.com/wp-content/uploads/2024/01/Q4-2023-Letter.pdf">O'Keefe Stevens</a></td><td>1/27/2024</td><td><a href="https://roic.ai/company/FPH " target="_blank">FPH </a><a href="https://roic.ai/company/AER " target="_blank">AER </a><a href="https://roic.ai/company/EAF " target="_blank">EAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td>1/27/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td>1/27/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2023/2023%20Q4%20Letter%20-%20Final%20Approved.pdf">Praetorian Capital </a></td><td>1/27/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638418832260000000">Weitz Partners III Opportunity Fund</a></td><td>1/27/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/multi-cap-equity-fund-commentary.pdf?c=638418832260000000">Weitz Multy Cap Equity Fund</a></td><td>1/27/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/large-cap-equity-fund-commentary.pdf?c=638418832260000000">Weitz Large Cap Equity Fund</a></td><td>1/27/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/65b3c7e58eb10079f8547138/1706280933966/Q4+2023+Letter.pdf">Curreen Capital</a></td><td>1/27/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rowanstreet.com/post/rowan-street-2023-year-end-letter">Rowan Street Capital</a></td><td>1/27/2024</td><td><a href="https://roic.ai/company/ADYEY " target="_blank">ADYEY </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/TOITF " target="_blank">TOITF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr><tr><td><a a1b69-bebc-4179-bb31-c6a264681e68="" arnassus="" content.parnassus.com="" ee837-48bb-001c-6959-053670061ebf="" href="" https:="" nvestments_growth="" ommentary_4q23.pdf="" quity="" und="">Parnassus Growth Equity
Fund</a></td><td>1/28/2024</td><td><a _blank="" company="" href="" https:="" roic.ai="" target=""></a><a _blank="" company="" href="" https:="" roic.ai="" target=""></a><a _blank="" company="" href="" https:="" roic.ai="" target=""></a><a _blank="" company="" href="" https:="" roic.ai="" target=""></a><a _blank="" company="" href="" https:="" roic.ai="" target=""></a><a _blank="" company="" href="" https:="" roic.ai="" target=""></a><a _blank="" company="" href="" https:="" roic.ai="" target=""></a><a _blank="" company="" href="" https:="" roic.ai="" target=""></a><a _blank="" company="" href="" https:="" roic.ai="" target=""></a></td></tr><tr><td><a href="https://mcvalue.blog/2024/01/26/our-q4-2023-letter/">McIntyre Partnerships</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/GTX " target="_blank">GTX </a><a href="https://roic.ai/company/SHC " target="_blank">SHC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.legacyridgecapital.com/wp-content/uploads/2024/01/LRCM-2023-Letter.pdf">Legacy Ridge Capital Management</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/VST " target="_blank">VST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mooncap.com/q4-2023-letter/">Moon Capital</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/MBIN" target="_blank">MBIN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://wedgewoodpartners.com/wp-content/uploads/2024/01/WW_clientLetter_4Q2023.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TSM " target="_blank">TSM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://drive.google.com/file/d/1-HUsjZWA-HIrCI28zOgbVBDYbgI6Q1De/view">Smoak Capital</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/FTLF " target="_blank">FTLF </a><a href="https://roic.ai/company/HMM-A " target="_blank">HMM-A </a><a href="https://roic.ai/company/GWOX " target="_blank">GWOX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.oldwestim.com/_files/ugd/718a37_6c7a4b1b7ad049079f49fdc4dd027815.pdf">Old West Capital Management</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/UHAL" target="_blank">UHAL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.palmharbourcapital.com/files/PHC%20Letter%20Q4_2023_FINAL_ENG.pdf">Palm Harbour Capital</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/SLVYY " target="_blank">SLVYY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Growth_Fund_Commentary.pdf">Mairs & Power Growth Fund</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Small_Cap_Fund_Commentary.pdf">Mairs & Power Small Cap Fund</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.ithakagroup.com/_files/ugd/a80814_e08ce0778fbc426db60f911b172045e3.pdf">The Ithaka Group</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://drive.google.com/file/d/1NBuR6Y9i-JnRfW3DwXrDLlYS6c28vd7N/view?pli=1">Greenlight Capital</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/ALIT " target="_blank">ALIT </a><a href="https://roic.ai/company/VTRS " target="_blank">VTRS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://horizonkinetics.com/app/uploads/Q4-2023-Commentary_FINAL.pdf">Horizon Kinetics</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/65af0781d6d4616f58aaa2dd/1705969538130/2023+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/PCHM " target="_blank">PCHM </a><a href="https://roic.ai/company/SODI " target="_blank">SODI </a><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/UBAB " target="_blank">UBAB </a><a href="https://roic.ai/company/SKAS " target="_blank">SKAS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.claret.ca/wp-content/uploads/2024/01/Quarterly-Letter-Q4-2023-Claret.pdf">Claret Asset Management</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.thirdave.com/shareholder-letters/reifx-shareholder-letter">Third Avenue International Real Estate Value Fund</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.thirdave.com/shareholder-letters/tarex-shareholder-letter">Third Avenue Real Estate Value Fund</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.thirdave.com/shareholder-letters/tascx-shareholder-letter">Third Avenue Small-Cap Value Fund</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/COLL" target="_blank">COLL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.thirdave.com/shareholder-letters/tavfx-shareholder-letter">Third Avenue Value Fund</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/BMWYY " target="_blank">BMWYY </a><a href="https://roic.ai/company/BOMFX " target="_blank">BOMFX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/65b163c17c174919347a8aaa/1706124226146/Laughing+Water+Capital+YE%2723+Letter2.pdf">Laughing Water Capital</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/NN " target="_blank">NN </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/LMB " target="_blank">LMB </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/HGV" target="_blank">HGV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://vulcanvaluepartners.com/core/uploads/2024/01/VVP-Fourth-Quarter-and-Annual-Letter-12.31.23.pdf">Vulcan Value Partners</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.whitebrookcapital.com/4q2023-commentary">Whitebrook Capital Partners </a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/BLDR " target="_blank">BLDR </a><a href="https://roic.ai/company/MOS " target="_blank">MOS </a><a href="https://roic.ai/company/GPRE " target="_blank">GPRE </a><a href="https://roic.ai/company/RILY" target="_blank">RILY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://patientcapitalmanagement.com/articles/4q23_opportunity_equity_quarterly_review">Patient Capital Management</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/RPRX " target="_blank">RPRX </a><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/SDRL " target="_blank">SDRL </a><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/COIN " target="_blank">COIN </a><a href="https://roic.ai/company/MAT " target="_blank">MAT </a><a href="https://roic.ai/company/GOOS" target="_blank">GOOS</a><a href="https://roic.ai/company/KOS" target="_blank">KOS</a></td></tr>
<tr><td><a href="https://alluvialcapital.com/wp-content/uploads/2024/01/Alluvial-Capital-Management-Q4-2023-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td>1/28/2024</td><td><a href="https://roic.ai/company/NLOP " target="_blank">NLOP </a><a href="https://roic.ai/company/FTLF " target="_blank">FTLF </a><a href="https://roic.ai/company/CRAWA " target="_blank">CRAWA </a><a href="https://roic.ai/company/MRC " target="_blank">MRC </a><a href="https://roic.ai/company/LCIT " target="_blank">LCIT </a><a href="https://roic.ai/company/SENEA" target="_blank">SENEA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/65b2a687cba084080cdbb231/1706206855687/GCAM+letter+Q4+2023.pdf">Giverny Capital Asset Management</a></td><td>2/02/2024</td><td><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/IBP " target="_blank">IBP </a><a href="https://roic.ai/company/ASHTY " target="_blank">ASHTY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202312/Commentary-Small-Cap-Fund-2023-12-31.pdf?c=638422200170000000">Diamond Hill Small Cap Fund</a></td><td>2/02/2024</td><td><a href="https://roic.ai/company/MAMA " target="_blank">MAMA </a><a href="https://roic.ai/company/CMT " target="_blank">CMT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_e2c2b62e3e794df38a38db1afcba3f51.pdf">Emeth Value Capital</a></td><td>2/02/2024</td><td><a href="https://roic.ai/company/DRVN" target="_blank">DRVN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fairlightcapital.com/_files/ugd/a6cb30_5b5acaf0d9814d11ba8a4c4544213e09.pdf">Fairlight Alpha Fund LP</a></td><td>2/02/2024</td><td><a href="https://roic.ai/company/MCCRF " target="_blank">MCCRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://choice-equities.com/wp-content/uploads/2024/01/2023-Q4-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td>2/02/2024</td><td><a href="https://roic.ai/company/BXC " target="_blank">BXC </a><a href="https://roic.ai/company/PAR" target="_blank">PAR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.appleseedfund.com/wp-content/uploads/2023/10/Appleseed-Fund-Q4-2023-Letter-v3.pdf">Appleseed Fund</a></td><td>2/02/2024</td><td><a href="https://roic.ai/company/DG " target="_blank">DG </a><a href="https://roic.ai/company/WCC " target="_blank">WCC </a><a href="https://roic.ai/company/GNK" target="_blank">GNK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/65ae3d7165edb769d51b8c7c/1705917809927/2023+Q4.pdf">Blue Tower Asset Management</a></td><td>2/02/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/10/Large-Cap_Portfolio-Commentary_Russell-1000_Q4-2023.pdf">The London Company - Large Cap</a></td><td>2/02/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/10/Mid-Cap_Portfolio-Commentary_Russell-Midcap_Q4-2023.pdf">The London Company - Mid Cap</a></td><td>2/02/2024</td><td><a href="https://roic.ai/company/KEYS " target="_blank">KEYS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/10/Small-Cap_Portfolio-Commentary_Russell-2000_Q4-2023.pdf">The London Company - Small Cap</a></td><td>2/02/2024</td><td><a href="https://roic.ai/company/PLUS " target="_blank">PLUS </a><a href="https://roic.ai/company/RVLV" target="_blank">RVLV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/10/SMID-Cap_Portfolio-Commentary_Russell-2500_Q4-2023.pdf">The London Company - Small-Mid Cap</a></td><td>2/02/2024</td><td><a href="https://roic.ai/company/DAVA" target="_blank">DAVA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://gbcvalue.com/wp-content/uploads/2024/01/2023-Q4_Gehlen-Braeutigam-Value-HI-%E2%80%93-Letter-to-Partners-22-EN.pdf">Gehlen Bräutigam Capital GmbH</a></td><td>2/02/2024</td><td><a href="https://roic.ai/company/BIJ.DE " target="_blank">BIJ.DE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/57eff176e58c621a298bfa61/t/65a71ade697ec97a9d0f0ff0/1705450206382/Plural+Partners+Fund+Letter+-+2023%3AQ4.pdf">Plural Investing</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/KD " target="_blank">KD </a><a href="https://roic.ai/company/XPEL" target="_blank">XPEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-commentary-2023-12.pdf?sfvrsn=b1f59f9d_4">FPA Crescent Fund</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/FE" target="_blank">FE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.gwinvestors.com/2023-letter/">GreenWood Investors</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/NXE " target="_blank">NXE </a><a href="https://roic.ai/company/BOIVF " target="_blank">BOIVF </a><a href="https://roic.ai/company/PDD " target="_blank">PDD </a><a href="https://roic.ai/company/RTO " target="_blank">RTO </a><a href="https://roic.ai/company/CTTOF" target="_blank">CTTOF </a><a href="https://roic.ai/company/MEIP " target="_blank">MEIP </a><a href="https://roic.ai/company/FINMY" target="_blank">FINMY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/65bc7af934c7c146c0899c63/1706851066809/RF+Capital+February+2024+Investor+Letter.pdf">RF Capital Management</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.greystonevalue.com/_files/ugd/47fd79_938e4766a6484494b03599921ba07610.pdf">Greystone Capital Management</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/FC " target="_blank">FC </a><a href="https://roic.ai/company/SYZLF " target="_blank">SYZLF </a><a href="https://roic.ai/company/BELFB " target="_blank">BELFB </a><a href="https://roic.ai/company/LMB " target="_blank">LMB </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2023/HL-EM-Equity-Quarterly-Report-4Q23.pdf">Harding Loevner Emerging Markets Equity</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/BDWBY " target="_blank">BDWBY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2023/HL-Global-Equity-Quarterly-Report-4Q23.pdf">Harding Loevner Global Equity</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/NOW " target="_blank">NOW </a><a href="https://roic.ai/company/VERX" target="_blank">VERX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2023/HL-Global-Small-Cos-Equity-Quarterly-Report-4Q23.pdf">Harding Loevner Global Small Companies</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2023/HL-Intl-Equity-Quarterly-Report-4Q23.pdf">Harding Loevner International Equity</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2023/HL-Intl-Small-Cos-Equity-Quarterly-Report-4Q23.pdf">Harding Loevner International Small Companies Equity</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/baron-asset-fund-quarterly-letter-12.31.23.pdf">Baron Asset Fund</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/BIRK" target="_blank">BIRK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/baron-discovery-fund-quarterly-letter-12.31.23.pdf">Baron Discovery Fund</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/AAON " target="_blank">AAON </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/65a71cfcc2f3796feee01735/1705450749311/NZS+Capital+Update+4Q+2023.pdf">NZS Capital</a></td><td>2/04/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/2023-09/Polen_Global-Emerging-Markets-Growth_Commentary_0.pdf">Polen Capital - Emerging Markets Growth</a></td><td>2/16/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/Polen_Focus-Growth_Commentary.PDF">Polen Capital - Focus Growth</a></td><td>2/16/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/Polen_Global-Growth_Commentary.pdf">Polen Capital - Global Growth</a></td><td>2/16/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/Polen_Global-SMID-Company-Growth_Commentary.pdf">Polen Capital - Global SMID Company Growth</a></td><td>2/16/2024</td><td><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/ABT " target="_blank">ABT </a><a href="https://roic.ai/company/EL " target="_blank">EL </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/NSRGY " target="_blank">NSRGY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/Polen_International-Growth_Commentary.PDF">Polen Capital - International Growth</a></td><td>2/16/2024</td><td><a href="https://roic.ai/company/MDT " target="_blank">MDT </a><a href="https://roic.ai/company/TEP.FP " target="_blank">TEP.FP </a><a href="https://roic.ai/company/HDB " target="_blank">HDB </a><a href="https://roic.ai/company/TMNSF " target="_blank">TMNSF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/Polen_US-Small-Company-Growth_Commentary.pdf">Polen Capital - U.S. Small Company Growth</a></td><td>2/16/2024</td><td><a href="https://roic.ai/company/CNM " target="_blank">CNM </a><a href="https://roic.ai/company/MEDP " target="_blank">MEDP </a><a href="https://roic.ai/company/GNRC " target="_blank">GNRC </a><a href="https://roic.ai/company/LGIH " target="_blank">LGIH </a><a href="https://roic.ai/company/MODG " target="_blank">MODG </a><a href="https://roic.ai/company/BWMN " target="_blank">BWMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/Polen_US-SMID-Company-Growth_Commentary.pdf">Polen Capital - U.S. SMID Company Growth </a></td><td>2/16/2024</td><td><a href="https://roic.ai/company/MEDP " target="_blank">MEDP </a><a href="https://roic.ai/company/CNM " target="_blank">CNM </a><a href="https://roic.ai/company/POOL " target="_blank">POOL </a><a href="https://roic.ai/company/TECH " target="_blank">TECH </a><a href="https://roic.ai/company/GNRC " target="_blank">GNRC </a><a href="https://roic.ai/company/MKTX " target="_blank">MKTX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2024/01/Fourth-Quarter-2023-SouthernSun-Small-Cap-Strategy-Composite-Commentary-3.pdf">SouternSun Small Cap</a></td><td>2/16/2024</td><td><a href="https://roic.ai/company/LOB " target="_blank">LOB </a><a href="https://roic.ai/company/DY " target="_blank">DY </a><a href="https://roic.ai/company/BDC " target="_blank">BDC </a><a href="https://roic.ai/company/SAM" target="_blank">SAM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2024/01/Fourth-Quarter-2023-SouthernSun-SMID-Cap-Composite-Commentary-3.pdf">SouternSun SMID Cap</a></td><td>2/16/2024</td><td><a href="https://roic.ai/company/DY " target="_blank">DY </a><a href="https://roic.ai/company/AWI " target="_blank">AWI </a><a href="https://roic.ai/company/BDC " target="_blank">BDC </a><a href="https://roic.ai/company/SAM " target="_blank">SAM </a><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/65bd570c0ba5792db938f9a6/1706907404785/Greenhaven+Road+-+2023+Q4+FINAL_.pdf">Greenhaven Road Capital</a></td><td>2/16/2024</td><td><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/IWG " target="_blank">IWG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.crescat.net/buy-low-sell-high/">Crestcat Capital</a></td><td>2/16/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static.fmgsuite.com/media/documents/ba5799fc-d39e-4bd1-aade-14d3ca09e6d1.pdf">Conestoga Capital Advisors, LLC</a></td><td>2/16/2024</td><td><a href="https://roic.ai/company/CCCS " target="_blank">CCCS </a><a href="https://roic.ai/company/MSA " target="_blank">MSA </a><a href="https://roic.ai/company/IRMD " target="_blank">IRMD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/43f7ca6d-8693-81f1-3fbc-1998d395b1f9/Bonhoeffer_Partner_Letter_Q4_2023_Redacted.pdf">Bonhoeffer Capital Management</a></td><td>2/18/2024</td><td><a href="https://roic.ai/company/VTY.L " target="_blank">VTY.L </a><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/ASHTY " target="_blank">ASHTY </a><a href="https://roic.ai/company/UBAB " target="_blank">UBAB </a><a href="https://roic.ai/company/FFBB " target="_blank">FFBB </a><a href="https://roic.ai/company/NBN " target="_blank">NBN </a><a href="https://roic.ai/company/BLDR " target="_blank">BLDR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://drive.google.com/file/d/18O6tyGEOUzuKJGHcdzNzq3tVhOLO1gly/view">River Oaks Capital</a></td><td>2/18/2024</td><td><a href="https://roic.ai/company/MFCSF " target="_blank">MFCSF </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/BFCC " target="_blank">BFCC </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/NICK " target="_blank">NICK </a><a href="https://roic.ai/company/BOC " target="_blank">BOC </a><a href="https://roic.ai/company/LRFC " target="_blank">LRFC </a><a href="https://roic.ai/company/FTLF " target="_blank">FTLF </a><a href="https://roic.ai/company/GLXZ" target="_blank">GLXZ</a></td></tr>
<tr><td><a href="https://srk-capital.com/content_files/2024/02/SRK_Capital_H2_2023.pdf">SRK Capital</a></td><td>2/18/2024</td><td><a href="https://roic.ai/company/ISSC " target="_blank">ISSC </a><a href="https://roic.ai/company/VASO " target="_blank">VASO </a><a href="https://roic.ai/company/HGBL " target="_blank">HGBL </a><a href="https://roic.ai/company/SGMA " target="_blank">SGMA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/83160714-56a6-fa0b-91e8-f3b4e6dae9a4/SilverRingValuePartners_2023Q4_Letter.pdf">Silver Ring Value Partners</a></td><td>2/18/2024</td><td><a href="https://roic.ai/company/BCKIF " target="_blank">BCKIF </a><a href="https://roic.ai/company/AIMFF " target="_blank">AIMFF </a><a href="https://roic.ai/company/OI " target="_blank">OI </a><a href="https://roic.ai/company/QRTEA " target="_blank">QRTEA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets.thirdpointlimited.com/f/166217/x/4c01ad22d8/fourth-quarter-2023-investor-letter-tpil.pdf">Third Point Offshore Fund</a></td><td>2/18/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%20FINAL.pdf">Tweedy Browne</a></td><td>2/18/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://lvsadvisory.com/wp-content/uploads/2024/02/LVS-Advisory-Letter-Q4-2023.pdf">LVS Advisory</a></td><td>2/18/2024</td><td><a href="https://roic.ai/company/CLMT " target="_blank">CLMT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/baron-emerging-markets-fund-quarterly-letter-12.31.23.pdf">Baron Emerging Markets Fund</a></td><td>2/18/2024</td><td><a href="https://roic.ai/company/PDD " target="_blank">PDD </a><a href="https://roic.ai/company/KAYNES.IN" target="_blank">KAYNES.IN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/baron-fifth-avenue-growth-fund-quarterly-letter-12.31.23.pdf">Baron Fifth Avenue Growth Fund</a></td><td>2/18/2024</td><td><a href="https://roic.ai/company/SQ " target="_blank">SQ </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://headwaterscapmgmt.com/wp-content/uploads/2024/01/HCM-Q4-23-Investor-Letter.pdf">Headwaters Capital</a></td><td>2/18/2024</td><td><a href="https://roic.ai/company/IPAR " target="_blank">IPAR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/65c52a646fae5f74944e8623/1707420260395/4Q23+FINAL.pdf">Long Cast Advisers </a></td><td>2/18/2024</td><td><a href="https://roic.ai/company/MTRX " target="_blank">MTRX </a><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/QRHC " target="_blank">QRHC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mhinvest.com/download.html?docId=3228">Miller/Howard Investments</a></td><td>3/01/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://files.brontecapital.com/amalthea/Amalthea_Letter_202312.pdf">Bronte Capital</a></td><td>3/01/2024</td><td><a href="https://roic.ai/company/HIBB" target="_blank">HIBB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static.fmgsuite.com/media/documents/5792461c-1b2d-4a95-a2e4-774ea4585f8e.pdf">Semper Augustus</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2024/01/CE-Portfolio-Commentary-2023_12.pdf">Aristotle - Core Equity</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/LLY " target="_blank">LLY </a><a href="https://roic.ai/company/VRTX " target="_blank">VRTX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2024/01/FG-Portfolio-Commentary-2023_12.pdf">Aristotle - Focus Growth</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2024/01/2023_4Q_Commentary_IE.pdf">Aristotle - International Equity ADR</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2024/01/LCG-Portfolio-Commentary-2023_12.pdf">Aristotle - Large Cap Growth</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/DDOG" target="_blank">DDOG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2024/01/2023_4Q_Commentary_SC.pdf">Aristotle - Small Cap Equity</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/NOG " target="_blank">NOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2024/01/2023_4Q_Commentary_SMID.pdf">Aristotle - Small/Mid Cap Equity</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/NOG " target="_blank">NOG </a><a href="https://roic.ai/company/LKQ " target="_blank">LKQ </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2024/01/2023_4Q_Commentary_VE.pdf">Aristotle - Value Equity</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/TDY " target="_blank">TDY </a><a href="https://roic.ai/company/USB " target="_blank">USB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.manolecapital.com/_files/ugd/43315f_a8f50236f2ba4581b00e92f6873f7152.pdf">Manole Capital Management</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://docsend.com/view/afsguuefctei9uwb">Silver Beach Capital</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/BN " target="_blank">BN </a><a href="https://roic.ai/company/ET " target="_blank">ET </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mcjcapitalpartners.com/q4-2023-update">MCJ Capital Partners</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/4522df4fcbfa5be002117f260/files/4d405a97-2b3e-bd5c-16c1-a68f95694f18/Maran_Partners_Fund_LP_2023_4Q_Letter.pdf">Maran Capital Management</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/CLAR " target="_blank">CLAR </a><a href="https://roic.ai/company/SLGD " target="_blank">SLGD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_4Q_2023.pdf">Saltlight Capital </a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/APP " target="_blank">APP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://4043042.fs1.hubspotusercontent-na1.net/hubfs/4043042/Content%20Offers/2023.Q4%20Commentary/2023.Q4%20GR%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td>3/02/2024</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
</tbody>
</table>
<br />
<br />
<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">3rd Quarter 2023</span>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th>
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<tr><td><a href="https://east72.com.au/wp-content/uploads/2023/10/E72DT-Quarterly-Report-Sep-2023.pdf">East72 Dynasty Trust</a></td><td>10/19/2023</td><td><a href="https://roic.ai/company/VIRT" target="_blank">VIRT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="http://covestreetfunds.com/wp-content/uploads/2023/10/CSCAX_2023-09-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td>10/19/2023</td><td><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/SSP " target="_blank">SSP </a><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/ECVT " target="_blank">ECVT </a><a href="https://roic.ai/company/HNRG " target="_blank">HNRG </a><a href="https://roic.ai/company/CNX " target="_blank">CNX </a><a href="https://roic.ai/company/DLHC " target="_blank">DLHC </a><a href="https://roic.ai/company/AMSWA " target="_blank">AMSWA </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.vltavafund.com/dopisy-akcionarum/vynosariziko">Vltava Fund</a></td><td>10/19/2023</td><td><a href="https://roic.ai/company/ELV" target="_blank">ELV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/6525c703d568e50a48eed01b/1696974596318/Q32023.pdf">Comus Investments</a></td><td>10/19/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://lvsadvisory.com/wp-content/uploads/2023/10/LVS-Advisory-Letter-Q3-2023.pdf">LVS Advisory</a></td><td>10/19/2023</td><td><a href="https://roic.ai/company/SENEA" target="_blank">SENEA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.cohopartners.com/insights/portfolio-insights/coho-relative-value-equity-2023-second-quarter/">Coho Relative Value Equity</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rowanstreet.com/post/rowan-street-q3-2023-letter">Rowan Street Capital</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q23-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/FAF " target="_blank">FAF </a><a href="https://roic.ai/company/NOV " target="_blank">NOV </a><a href="https://roic.ai/company/SPB " target="_blank">SPB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q23-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/MHK " target="_blank">MHK </a><a href="https://roic.ai/company/NFG " target="_blank">NFG </a><a href="https://roic.ai/company/STC " target="_blank">STC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q23-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/CRI " target="_blank">CRI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2023_10_12.pdf">Myrmikan Research</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fmimgt.com/fmi/corp/Letters/iso_20230930.pdf">Fiduciary Management Inc.</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/VVV " target="_blank">VVV </a><a href="https://roic.ai/company/SYY " target="_blank">SYY </a><a href="https://roic.ai/company/CCEP " target="_blank">CCEP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/d9b22851-67d3-afd8-0459-90b96405ff5f/Third_Quarter_2023_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://stjic.com/wp-content/uploads/2023/10/STJIC-Adviser-Letter-2023-Q3-Redell-Final.pdf">St. James Investment Company </a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.ithakagroup.com/_files/ugd/a80814_5211c02f80a346d1bc6f311c99acfc54.pdf">The Ithaka Group</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.righttailcapital.com/_files/ugd/9593df_1f87e5da59024dc39cca0159f26cd2ea.pdf">Right Tail Capital</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/65307ac1146e4f13195f8581/1697675969336/Laughing+Water+Capital+Q3%2723+Letter.pdf">Laughing Water Capital</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/HGV " target="_blank">HGV </a><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/652d7195d11d3d0e62e2b053/1697477013568/Q3+2023+Letter.pdf">Curreen Capital</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.akrefund.com/wp-content/uploads/2023/10/Akre-Focus-Fund-Quarterly-Commentary-2023-Q3.pdf#page=1">Akre Focus Fund</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://gbcvalue.com/wp-content/uploads/2023/10/2023-Q3_Gehlen-Braeutigam-Value-HI-–-Letter-to-Partners-21-EN.pdf">Gehlen Bräutigam Capital GmbH</a></td><td>10/20/2023</td><td><a href="https://roic.ai/company/ANIM.IM " target="_blank">ANIM.IM </a><a href="https://roic.ai/company/EG7.SW " target="_blank">EG7.SW </a><a href="https://roic.ai/company/MAB1.LN " target="_blank">MAB1.LN </a><a href="https://roic.ai/company/PHLL.L" target="_blank">PHLL.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.oldwestim.com/_files/ugd/718a37_a01d6a7f11364484a35b235bcdeb0f70.pdf">Old West Capital Management</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/ADMLF " target="_blank">ADMLF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_1e0d1cabf6d846c185ec5c2e443630eb.pdf">Merion Road Capital</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/SUM " target="_blank">SUM </a><a href="https://roic.ai/company/DSGR " target="_blank">DSGR </a><a href="https://roic.ai/company/KLG " target="_blank">KLG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://wedgewoodpartners.com/wp-content/uploads/2023/10/WP_3Q202_-Client_LetterFedUp.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/ORLY" target="_blank">ORLY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.claret.ca/wp-content/uploads/2023/10/Quarterly-Letter-Q3-2023-Claret.pdf">Claret Asset Management</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://acerivercapital.com/documents">Ace River Capital</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/DSHK " target="_blank">DSHK </a><a href="https://roic.ai/company/HZO " target="_blank">HZO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonDividendIncome-ISL.pdf">Madison Dividend Income Fund</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonInvestorsFund-ISL.pdf">Madison Investors Fund</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/TXN " target="_blank">TXN </a><a href="https://roic.ai/company/A" target="_blank">A</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonMidCap-ISL.pdf">Madison Mid Cap Fund</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/DLTR" target="_blank">DLTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSmallCap-ISL.pdf">Madison Small Cap Fund</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/FROG " target="_blank">FROG </a><a href="https://roic.ai/company/HAYW" target="_blank">HAYW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSustainableEquityFund-ISL.pdf">Madison Sustainable Equity Fund</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/TXN" target="_blank">TXN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_ec61ed7de49e47abbcad3e2bc318f24b.pdf">Palm Valley Capital Fund</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/LSDAF " target="_blank">LSDAF </a><a href="https://roic.ai/company/MLR " target="_blank">MLR </a><a href="https://roic.ai/company/CRD-A " target="_blank">CRD-A </a><a href="https://roic.ai/company/AAP " target="_blank">AAP </a><a href="https://roic.ai/company/TBI " target="_blank">TBI </a><a href="https://roic.ai/company/AVA " target="_blank">AVA </a><a href="https://roic.ai/company/FPI " target="_blank">FPI </a><a href="https://roic.ai/company/SSRM " target="_blank">SSRM </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/652edfacaa54ad0ee93b79b9/1697570733089/Upslope+-+2023Q3+Letter.pdf">Upslope Capital Management</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/BALL" target="_blank">BALL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.manolecapital.com/_files/ugd/43315f_d47ce869cd7a455b8101a421ff5b34fe.pdf">Manole Capital Management</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://patientcapitalmanagement.com/articles/on_expectations_low_low_low_low_low_low_low_low">Patient Capital Management</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/C " target="_blank">C </a><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2023/10/3Q-2023-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2023/10/3Q-2023-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://imonkey-files.s3-us-west-1.amazonaws.com/VVP-Quarterly-Letter-23.09.30.pdf">Vulcan Value Partners</a></td><td>10/21/2023</td><td><a href="https://roic.ai/company/DEO " target="_blank">DEO </a><a href="https://roic.ai/company/MAR " target="_blank">MAR </a><a href="https://roic.ai/company/TXN " target="_blank">TXN </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2023-and-fiscal-year-end/">Oakmark Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/CNC " target="_blank">CNC </a><a href="https://roic.ai/company/CSCO " target="_blank">CSCO </a><a href="https://roic.ai/company/CTVA " target="_blank">CTVA </a><a href="https://roic.ai/company/CVS " target="_blank">CVS </a><a href="https://roic.ai/company/DHR" target="_blank">DHR</a><a href="https://roic.ai/company/PSX" target="_blank">PSX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2023-and-fiscal-year-end/">Oakmark Global Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/CHTR " target="_blank">CHTR </a><a href="https://roic.ai/company/STJPF " target="_blank">STJPF </a><a href="https://roic.ai/company/ORCL " target="_blank">ORCL </a><a href="https://roic.ai/company/BC " target="_blank">BC </a><a href="https://roic.ai/company/CSCO" target="_blank">CSCO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-third-quarter-2023-and-fiscal-year-end/">Oakmark Global Select Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/CHTR " target="_blank">CHTR </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/GOOGL " target="_blank">GOOGL </a><a href="https://roic.ai/company/CS " target="_blank">CS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-fund-third-quarter-2023-and-fiscal-year-end/">Oakmark International Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/FSNUY " target="_blank">FSNUY </a><a href="https://roic.ai/company/WWLNF " target="_blank">WWLNF </a><a href="https://roic.ai/company/IITSF " target="_blank">IITSF </a><a href="https://roic.ai/company/BNZL.L" target="_blank">BNZL.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-third-quarter-2023-and-fiscal-year-end/">Oakmark International Small Cap Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/SCHA.NO" target="_blank">SCHA.NO</a><a href="https://roic.ai/company/STJPF " target="_blank">STJPF </a><a href="https://roic.ai/company/KNCRF " target="_blank">KNCRF </a><a href="https://roic.ai/company/NENTF " target="_blank">NENTF </a><a href="https://roic.ai/company/8919" target="_blank">8919 </a><a href="https://roic.ai/company/ICP.L " target="_blank">ICP.L </a><a href="https://roic.ai/company/FLRAF" target="_blank">FLRAF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2023-and-fiscal-year-end/">Oakmark Select Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/IQV" target="_blank">IQV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2023Q3.pdf">Frontaura Global Frontier Fund LLC </a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/10/CE-Portfolio-Commentary-2023_09.pdf">Aristotle - Core Equity</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/ORCL " target="_blank">ORCL </a><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/10/FG-Portfolio-Commentary-2023_09_.pdf">Aristotle - Focus Growth</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/10/2023_3Q_Commentary_IE-ADR_.pdf">Aristotle - International Equity ADR</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/10/LCG-Portfolio-Commentary-2023_09_.pdf">Aristotle - Large Cap Growth</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/10/2023_3Q_Commentary_SC.pdf">Aristotle - Small Cap Equity</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/PTEN " target="_blank">PTEN </a><a href="https://roic.ai/company/TKO " target="_blank">TKO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/10/2023_3Q_Commentary_SMID.pdf">Aristotle - Small/Mid Cap Equity</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/PTEN " target="_blank">PTEN </a><a href="https://roic.ai/company/TKO " target="_blank">TKO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/10/2023_3Q_Commentary_VE.pdf">Aristotle - Value Equity</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/AMGN " target="_blank">AMGN </a><a href="https://roic.ai/company/PSX " target="_blank">PSX </a><a href="https://roic.ai/company/XYL " target="_blank">XYL </a><a href="https://roic.ai/company/MCHP " target="_blank">MCHP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2023.pdf">L1 Capital Long Short Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets-global.website-files.com/61665daf5ae71578a6b4b2e4/6528aabc7d4c45cbcf0b0db0_CI%20Australian%20Equities%20-%20September%202023%20Quarterly%20Report.pdf">Cooper Investors CI Australian Equities Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets-global.website-files.com/61665daf5ae71578a6b4b2e4/6528ab10105aa95943b24d6e_Cooper%20Investors%20Global%20Equities%20Fund%20(Hedged)%20-%20September%202023%20Quarterly%20Report.pdf">Cooper Investors Global Equity Fund (Hedged)</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets-global.website-files.com/61665daf5ae71578a6b4b2e4/6528ab2d8ba2f637c1ec62c6_Cooper%20Investors%20Global%20Equities%20Fund%20(Unhedged)%20-%20September%202023%20Quarterly%20Report.pdf">Cooper Investors Global Equity Fund (Unhedged)</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/LXU" target="_blank">LXU</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.whitefalconcap.com/_files/ugd/2e6ec1_8fa65d402962458ab76d73be4a8d59f1.pdf">White Falcon Capital Management</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/ROVR " target="_blank">ROVR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mhinvest.com/download.html?docId=3216">Miller/Howard Investments</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/57eff176e58c621a298bfa61/t/6525dc8c475df53f8a415836/1696980108558/Plural+Partners+Fund+Letter+-+2023%3AQ3.pdf">Plural Investing</a></td><td>10/22/2023</td><td><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/DRTGF " target="_blank">DRTGF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6535be32dd213b67ada2e5c2/1698020915124/Q3+2023+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td>10/23/2023</td><td><a href="https://roic.ai/company/PROM " target="_blank">PROM </a><a href="https://roic.ai/company/PCHM " target="_blank">PCHM </a><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/SODI " target="_blank">SODI </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervalue.com/miller-deep-value-select-3q-2023-letter/">Miller Deep Value</a></td><td>10/23/2023</td><td><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/AXL " target="_blank">AXL </a><a href="https://roic.ai/company/GTN " target="_blank">GTN </a><a href="https://roic.ai/company/BFH " target="_blank">BFH </a><a href="https://roic.ai/company/FOSL " target="_blank">FOSL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1698070608338">Miller Income Strategy</a></td><td>10/23/2023</td><td><a href="https://roic.ai/company/T " target="_blank">T </a><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/JXN " target="_blank">JXN </a><a href="https://roic.ai/company/WAL " target="_blank">WAL </a><a href="https://roic.ai/company/MPW " target="_blank">MPW </a><a href="https://roic.ai/company/OGN " target="_blank">OGN </a><a href="https://roic.ai/company/MED" target="_blank">MED</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/65430b904e013f1708dfedab/1698892689327/Q3+2023+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td>11/03/2023</td><td><a href="https://roic.ai/company/FCFS" target="_blank">FCFS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://choice-equities.com/wp-content/uploads/2023/10/2023-Q3-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td>11/03/2023</td><td><a href="https://roic.ai/company/MGNI " target="_blank">MGNI </a><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/SHAK" target="_blank">SHAK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tidefallcapital.com/_files/ugd/8a849d_e51d6ca650f048cdb0aa2f4848360d24.pdf">Tidefall Capital Management</a></td><td>11/03/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.appleseedfund.com/wp-content/uploads/2023/10/Appleseed-Fund-Q4-2023-Letter-v3.pdf">Appleseed Fund</a></td><td>11/03/2023</td><td><a href="https://roic.ai/company/DG " target="_blank">DG </a><a href="https://roic.ai/company/WCC " target="_blank">WCC </a><a href="https://roic.ai/company/GNK " target="_blank">GNK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/baron-asset-fund-quarterly-letter-9.30.23.pdf">Baron Asset Fund</a></td><td>11/03/2023</td><td><a href="https://roic.ai/company/ONON " target="_blank">ONON </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/baron-discovery-fund-quarterly-letter-9.30.23.pdf">Baron Discovery Fund</a></td><td>11/03/2023</td><td><a href="https://roic.ai/company/S " target="_blank">S </a><a href="https://roic.ai/company/LLYVA " target="_blank">LLYVA </a><a href="https://roic.ai/company/EWCZ " target="_blank">EWCZ </a><a href="https://roic.ai/company/TXG " target="_blank">TXG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://ensemblefund.com/third-quarter-2023-investment-update/">Ensemble Fund</a></td><td>11/03/2023</td><td><a href="https://roic.ai/company/ADI " target="_blank">ADI </a><a href="https://roic.ai/company/MA" target="_blank">MA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://docsend.com/view/vdan3m9mwmem8vv3">Silver Beach Capital</a></td><td>11/03/2023</td><td><a href="https://roic.ai/company/DNTCF " target="_blank">DNTCF </a><a href="https://roic.ai/company/FNF " target="_blank">FNF </a><a href="https://roic.ai/company/C " target="_blank">C </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.whitebrookcapital.com/3q2023-commentary">Whitebrook Capital Partners </a></td><td>11/03/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fairlightcapital.com/_files/ugd/a6cb30_b60e40e7708a4464a67de8936bb2f565.pdf">Fairlight Alpha Fund LP</a></td><td>11/03/2023</td><td><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/EC " target="_blank">EC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/Polen_Focus-Growth_Commentary.PDF">Polen Capital - Focus Growth</a></td><td>11/04/2023</td><td><a href="https://roic.ai/company/LLY " target="_blank">LLY </a><a href="https://roic.ai/company/NVO" target="_blank">NVO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/Polen_Global-Growth_Commentary.pdf">Polen Capital - Global Growth</a></td><td>11/04/2023</td><td><a href="https://roic.ai/company/MSCI " target="_blank">MSCI </a><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/Polen_International-Growth_Commentary.PDF">Polen Capital - International Growth</a></td><td>11/04/2023</td><td><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/Polen_US-Small-Company-Growth_Commentary.pdf">Polen Capital - U.S. Small Company Growth</a></td><td>11/04/2023</td><td><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/XPEL " target="_blank">XPEL </a><a href="https://roic.ai/company/EXLS " target="_blank">EXLS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/Polen_Global-SMID-Company-Growth_Commentary.pdf">Polen Capital - Global SMID Company Growth</a></td><td>11/04/2023</td><td><a href="https://roic.ai/company/TSYHF " target="_blank">TSYHF </a><a href="https://roic.ai/company/MORN " target="_blank">MORN </a><a href="https://roic.ai/company/PGNY " target="_blank">PGNY </a><a href="https://roic.ai/company/DOCS " target="_blank">DOCS </a><a href="https://roic.ai/company/CCCS " target="_blank">CCCS </a><a href="https://roic.ai/company/XPEL " target="_blank">XPEL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/sites/default/files/Polen_US-SMID-Company-Growth_Commentary.pdf">Polen Capital - U.S. SMID Company Growth </a></td><td>11/04/2023</td><td><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://hoisington.com/pdf/HIM2023Q3NP.pdf">Hoisington Investment Management</a></td><td>11/04/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.pzena.com/wp-content/uploads/2023/10/PzenaNewsletter-Commentary-3Q23-2.pdf">Pzena Investment Management</a></td><td>11/04/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://files.brontecapital.com/amalthea/Amalthea_Letter_202309.pdf">Bronte Capital</a></td><td>11/04/2023</td><td><a href="https://roic.ai/company/REGN " target="_blank">REGN </a><a href="https://roic.ai/company/SRPT " target="_blank">SRPT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/65415796c87d2753003101f6/1698781078949/GCAM+Q3-2023+Letter+.pdf">Giverny Capital Asset Management</a></td><td>11/04/2023</td><td><a href="https://roic.ai/company/CIEN " target="_blank">CIEN </a><a href="https://roic.ai/company/SSNC " target="_blank">SSNC </a><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/ASHTF " target="_blank">ASHTF </a><a href="https://roic.ai/company/FI " target="_blank">FI </a><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://alluvialcapital.com/wp-content/uploads/2023/10/Alluvial-Capital-Management-Q3-2023-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/MCEM " target="_blank">MCEM </a><a href="https://roic.ai/company/TLNE " target="_blank">TLNE </a><a href="https://roic.ai/company/HMM-A " target="_blank">HMM-A </a><a href="https://roic.ai/company/SENEA " target="_blank">SENEA </a><a href="https://roic.ai/company/FTLF " target="_blank">FTLF </a><a href="https://roic.ai/company/PX" target="_blank">PX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202309/Commentary-Small-Cap-Fund-2023-09-30.pdf?c=638344544410000000">Diamond Hill Small Cap Fund</a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/PRGS " target="_blank">PRGS </a><a href="https://roic.ai/company/DCO " target="_blank">DCO </a><a href="https://roic.ai/company/MLR " target="_blank">MLR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://l1international.com/wp-content/uploads/2023/10/L1-Capital-International-September-2023-Quarterly-1.pdf">L1 International Capital Fund</a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/INTU " target="_blank">INTU </a><a href="https://roic.ai/company/NRP " target="_blank">NRP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/07/Portfolio-Commentary_Large-Cap_Russell-1000.pdf">The London Company - Large Cap</a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/ALB " target="_blank">ALB </a><a href="https://roic.ai/company/MLM " target="_blank">MLM </a><a href="https://roic.ai/company/NSC " target="_blank">NSC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/07/Portfolio-Commentary_Mid-Cap_Russell-Mid-Cap.pdf">The London Company - Mid Cap</a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/LII " target="_blank">LII </a><a href="https://roic.ai/company/ODFL " target="_blank">ODFL </a><a href="https://roic.ai/company/DLTR " target="_blank">DLTR </a><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/FIS " target="_blank">FIS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/07/Portfolio-Commentary_Small-Cap_Russell-2000.pdf">The London Company - Small Cap</a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/TPX " target="_blank">TPX </a><a href="https://roic.ai/company/QLYS " target="_blank">QLYS </a><a href="https://roic.ai/company/NEU " target="_blank">NEU </a><a href="https://roic.ai/company/ENOV " target="_blank">ENOV </a><a href="https://roic.ai/company/LANC " target="_blank">LANC </a><a href="https://roic.ai/company/NGVT" target="_blank">NGVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/07/Portfolio-Commentary_SMID-Cap_Russell-2500.pdf">The London Company - Small-Mid Cap</a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/BR " target="_blank">BR </a><a href="https://roic.ai/company/LW " target="_blank">LW </a><a href="https://roic.ai/company/CHDN " target="_blank">CHDN </a><a href="https://roic.ai/company/LANC " target="_blank">LANC </a><a href="https://roic.ai/company/MTN " target="_blank">MTN </a><a href="https://roic.ai/company/WAT " target="_blank">WAT </a><a href="https://roic.ai/company/ZBRA " target="_blank">ZBRA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638339436880000000">Weitz Partners III Opportunity Fund</a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/multi-cap-equity-fund-commentary.pdf?c=638339436880000000">Weitz Multy Cap Equity Fund</a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/large-cap-equity-fund-commentary.pdf?c=638339436880000000">Weitz Large Cap Equity Fund</a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/MCHP " target="_blank">MCHP </a><a href="https://roic.ai/company/EFX " target="_blank">EFX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2023/2023%20Q3%20Letter%20Final%20v.2%20Approved.pdf">Praetorian Capital </a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/65360f418600fd5d0dbc18f5/1698041665570/2023+Q3.pdf">Blue Tower Asset Management</a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td>11/05/2023</td><td><a href="https://roic.ai/company/VRT " target="_blank">VRT </a><a href="https://roic.ai/company/SLB " target="_blank">SLB </a><a href="https://roic.ai/company/GFL " target="_blank">GFL </a><a href="https://roic.ai/company/MSFT " target="_blank">MSFT </a><a href="https://roic.ai/company/TMDX " target="_blank">TMDX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://headwaterscapmgmt.com/wp-content/uploads/2023/10/HCM-Q3-23-Investor-Letter.pdf">Headwaters Capital</a></td><td>11/10/2023</td><td><a href="https://roic.ai/company/ABCM " target="_blank">ABCM </a><a href="https://roic.ai/company/INSP " target="_blank">INSP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/654129a71f2577193b357102/1698769319977/3Q23+letter+FINAL.pdf">Long Cast Advisers </a></td><td>11/10/2023</td><td><a href="https://roic.ai/company/PDEX " target="_blank">PDEX </a><a href="https://roic.ai/company/SOTK " target="_blank">SOTK </a><a href="https://roic.ai/company/RSSS" target="_blank">RSSS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/baron-emerging-markets-fund-quarterly-letter-9.30.23.pdf">Baron Emerging Markets Fund</a></td><td>11/10/2023</td><td><a href="https://roic.ai/company/MAHMF " target="_blank">MAHMF </a><a href="https://roic.ai/company/NU" target="_blank">NU</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/baron-fifth-avenue-growth-fund-quarterly-letter-9.30.23.pdf">Baron Fifth Avenue Growth Fund</a></td><td>11/10/2023</td><td><a href="https://roic.ai/company/CPNG" target="_blank">CPNG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://donvillekent.com/wp-content/uploads/2023/10/DKAM-ROE-Reporter-October-2023-Final.pdf">Donville Kent Asset Management</a></td><td>11/10/2023</td><td><a href="https://roic.ai/company/RTMNF " target="_blank">RTMNF </a><a href="https://roic.ai/company/CTSDF " target="_blank">CTSDF </a><a href="https://roic.ai/company/RDCPF " target="_blank">RDCPF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static.fmgsuite.com/media/documents/e5889e28-fdce-4e30-ab0c-1627bfa26663.pdf">Conestoga Capital Advisors, LLC</a></td><td>11/10/2023</td><td><a href="https://roic.ai/company/CSWI " target="_blank">CSWI </a><a href="https://roic.ai/company/DH " target="_blank">DH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Growth_Fund_Commentary.pdf">Mairs & Power Growth Fund</a></td><td>11/12/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Small_Cap_Fund_Commentary.pdf">Mairs & Power Small Cap Fund</a></td><td>11/12/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mcjcapitalpartners.com/q3-2023-update">MCJ Capital Partners</a></td><td>11/12/2023</td><td><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/RDCPF " target="_blank">RDCPF </a><a href="https://roic.ai/company/JDG.L " target="_blank">JDG.L </a><a href="https://roic.ai/company/KSIOF " target="_blank">KSIOF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.greystonevalue.com/_files/ugd/47fd79_ffc6d148e7b74658b2eb702a7e2d5047.pdf">Greystone Capital Management</a></td><td>11/12/2023</td><td><a href="https://roic.ai/company/BELFB " target="_blank">BELFB </a><a href="https://roic.ai/company/MFCSF " target="_blank">MFCSF </a><a href="https://roic.ai/company/SENEA " target="_blank">SENEA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-3T23.pdf">Horos Funds</a></td><td>11/12/2023</td><td><a href="https://roic.ai/company/CKNHF " target="_blank">CKNHF </a><a href="https://roic.ai/company/DALXF " target="_blank">DALXF </a><a href="https://roic.ai/company/ONEXF " target="_blank">ONEXF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://horizonkinetics.com/app/uploads/Q3-Commentary-FINAL.pdf">Horizon Kinetics</a></td><td>11/12/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td>11/12/2023</td><td><a href="https://roic.ai/company/CELH " target="_blank">CELH </a><a href="https://roic.ai/company/VRTV " target="_blank">VRTV </a><a href="https://roic.ai/company/SPLK " target="_blank">SPLK </a><a href="https://roic.ai/company/DXCM " target="_blank">DXCM </a><a href="https://roic.ai/company/NOVT " target="_blank">NOVT </a><a href="https://roic.ai/company/SHOP" target="_blank">SHOP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2023-09.pdf?sfvrsn=5c39f9d_8">FPA Crescent Fund</a></td><td>11/16/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-qr-small-cap-value-fund-commentary-2023-09.pdf?sfvrsn=b8c19f9d_4">FPA Queens Road Small Cap Value Fund</a></td><td>11/16/2023</td><td><a href="https://roic.ai/company/FN " target="_blank">FN </a><a href="https://roic.ai/company/IDCC " target="_blank">IDCC </a><a href="https://roic.ai/company/DECK " target="_blank">DECK </a><a href="https://roic.ai/company/AEL " target="_blank">AEL </a><a href="https://roic.ai/company/MTZ " target="_blank">MTZ </a><a href="https://roic.ai/company/UNFI " target="_blank">UNFI </a><a href="https://roic.ai/company/SFBS " target="_blank">SFBS </a><a href="https://roic.ai/company/CNXC " target="_blank">CNXC </a><a href="https://roic.ai/company/LTHM " target="_blank">LTHM </a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-value-fund/literature/fpa-qr-value-fund-commentary-2023-09.pdf?sfvrsn=fab99f9d_4">FPA Queens Road Value Fund</a></td><td>11/16/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/source-capital/literature/quarterly-commentaries/source-capital-commentary-2023-06.pdf?sfvrsn=ef989f9d_4">FPA Source Capital</a></td><td>11/16/2023</td><td><a href="https://roic.ai/company/OTEX " target="_blank">OTEX </a><a href="https://roic.ai/company/AVGO " target="_blank">AVGO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2023/10/Third-Quarter-2023-SouthernSun-Small-Cap-Strategy-Composite-Commentary.pdf">SouternSun Small Cap</a></td><td>11/16/2023</td><td><a href="https://roic.ai/company/SAM " target="_blank">SAM </a><a href="https://roic.ai/company/MUSA " target="_blank">MUSA </a><a href="https://roic.ai/company/DY " target="_blank">DY </a><a href="https://roic.ai/company/DAR " target="_blank">DAR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2023/10/Third-Quarter-2023-SouthernSun-SMID-Cap-Composite-Commentary.pdf">SouternSun SMID Cap</a></td><td>11/16/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">2nd Quarter 2023</span>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th>
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<tr><td><a href="https://east72.com.au/wp-content/uploads/2023/07/E72DT-QUARTERLY-REPORT-June-2023.pdf">East72 Dynasty Trust</a></td><td>7/07/2023</td><td><a href="https://roic.ai/company/BOIVF " target="_blank">BOIVF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2023-q2.pdf">Alphyn Capital Management</a></td><td>7/07/2023</td><td><a href="https://roic.ai/company/CCOI " target="_blank">CCOI </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/AHT.L" target="_blank">AHT.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/64a734066dcfd15ae831186e/1688679432494/Q22023.pdf">Comus Investments</a></td><td>7/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://stjic.com/wp-content/uploads/2023/07/STJIC-Adviser-Letter-2023-Q2-Final-3.pdf">St. James Investment Company </a></td><td>7/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.vltavafund.com/dopisy-akcionarum/zurich">Vltava Fund</a></td><td>7/07/2023</td><td><a href="https://roic.ai/company/STLA" target="_blank">STLA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_51c6f24f7bb44b9a92003b6f0b42cc1e.pdf">Palm Valley Capital Fund</a></td><td>7/10/2023</td><td><a href="https://roic.ai/company/AAP " target="_blank">AAP </a><a href="https://roic.ai/company/TBI " target="_blank">TBI </a><a href="https://roic.ai/company/LSDAF " target="_blank">LSDAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.oldwestim.com/_files/ugd/718a37_95b4414b769d4c70bc0ab51eab53b64b.pdf">Old West Capital Management</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/SMRT" target="_blank">SMRT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rowanstreet.com/post/rowan-street-1h-2023-letter">Rowan Street Capital</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fmimgt.com/fmi/corp/Letters/iso_20230630.pdf">Fiduciary Management Inc.</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/RHI " target="_blank">RHI </a><a href="https://roic.ai/company/CDW " target="_blank">CDW </a><a href="https://roic.ai/company/RHHNY" target="_blank">RHHNY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.akrefund.com/wp-content/uploads/2023/07/Akre-Focus-Fund-Quarterly-Commentary-2023-Q2-v2.pdf#page=1">Akre Focus Fund</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonInvestorsFund-ISL.pdf">Madison Investors Fund</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/ANTM" target="_blank">ANTM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q23-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/HAS " target="_blank">HAS </a><a href="https://roic.ai/company/SRCL " target="_blank">SRCL </a><a href="https://roic.ai/company/CNC" target="_blank">CNC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q23-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/MHK " target="_blank">MHK </a><a href="https://roic.ai/company/BHE " target="_blank">BHE </a><a href="https://roic.ai/company/HCSG" target="_blank">HCSG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q23-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/HCSG " target="_blank">HCSG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2023_05_12.pdf">Myrmikan Research</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://distillatecapital.com/wp-content/uploads/2023/07/Q2-2023-Letter.pdf">Distillate Capital</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.righttailcapital.com/_files/ugd/9593df_6143b8b86c1a46c9b232c0d65e624c2f.pdf">Right Tail Capital</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="http://covestreetfunds.com/wp-content/uploads/2023/07/CSCAX_2023-06-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/SNEX " target="_blank">SNEX </a><a href="https://roic.ai/company/DCO " target="_blank">DCO </a><a href="https://roic.ai/company/SCWX " target="_blank">SCWX </a><a href="https://roic.ai/company/LTRPA " target="_blank">LTRPA </a><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/GLDD " target="_blank">GLDD </a><a href="https://roic.ai/company/GLDD " target="_blank">MPAA</a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-fund-second-calendar-quarter-2023/">Oakmark Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/BAX " target="_blank">BAX </a><a href="https://roic.ai/company/CSL " target="_blank">CSL </a><a href="https://roic.ai/company/CE " target="_blank">CE </a><a href="https://roic.ai/company/FCNCA " target="_blank">FCNCA </a><a href="https://roic.ai/company/IQV" target="_blank">IQV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-calendar-quarter-2023/">Oakmark Global Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/CRBG " target="_blank">CRBG </a><a href="https://roic.ai/company/DHR " target="_blank">DHR </a><a href="https://roic.ai/company/IQV " target="_blank">IQV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-calendar-quarter-2023/">Oakmark Global Select Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/COP " target="_blank">COP </a><a href="https://roic.ai/company/DHR" target="_blank">DHR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-calendar-quarter-2023/">Oakmark International Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/BMWYY " target="_blank">BMWYY </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/BMRI.JK " target="_blank">BMRI.JK </a><a href="https://roic.ai/company/RCRUY" target="_blank">RCRUY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-second-calendar-quarter-2023/">Oakmark International Small Cap Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/OSP2.DE" target="_blank">OSP2.DE</a><a href="https://roic.ai/company/NENTF " target="_blank">NENTF </a><a href="https://roic.ai/company/AHEXY " target="_blank">AHEXY </a><a href="https://roic.ai/company/SPNS" target="_blank">SPNS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-calendar-quarter-2023/">Oakmark Select Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/COP" target="_blank">COP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/635cafa2259a125cc55eae33/t/64aeb0347a63bf404bec0f6f/1689169973044/Atai+Capital+-+Q2-2023+Letter.pdf">Atai Capital Management</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/ALOT " target="_blank">ALOT </a><a href="https://roic.ai/company/BELFB " target="_blank">BELFB </a><a href="https://roic.ai/company/ATVI" target="_blank">ATVI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonDividendIncome-ISL.pdf">Madison Dividend Income Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/UPS" target="_blank">UPS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonMidCap-ISL.pdf">Madison Mid Cap Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/WAT" target="_blank">WAT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSmallCap-ISL.pdf">Madison Small Cap Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/CNM" target="_blank">CNM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSustainableEquityFund-ISL.pdf">Madison Sustainable Equity Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.whitefalconcap.com/_files/ugd/2e6ec1_134f96345d4f4f9ca9521d533e80503c.pdf">White Falcon Capital Management</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/NU " target="_blank">NU </a><a href="https://roic.ai/company/AMD " target="_blank">AMD </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TECK " target="_blank">TECK </a><a href="https://roic.ai/company/EPAM" target="_blank">EPAM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.pzena.com/wp-content/uploads/2023/07/PzenaNewsletter-Commentary-2Q23.pdf">Pzena Investment Management</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://docsend.com/view/a8nbr8v3n6s7ed77">Silver Beach Capital</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/PLYA " target="_blank">PLYA </a><a href="https://roic.ai/company/GOOGL" target="_blank">GOOGL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2023/07/2Q-2023-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td>7/16/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2023/07/2Q-2023-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td>7/16/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_de721e68b6be4003b8533df450414c01.pdf">Merion Road Capital</a></td><td>7/16/2023</td><td><a href="https://roic.ai/company/EDR " target="_blank">EDR </a><a href="https://roic.ai/company/DSGR" target="_blank">DSGR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/64b6a25dbbf2f715cae4fc8b/1689690717776/Q2%2723+letter.pdf">1 Main Capital Partners</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/DNTL.TO " target="_blank">DNTL.TO </a><a href="https://roic.ai/company/IWG " target="_blank">IWG </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/LMB " target="_blank">LMB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://lvsadvisory.com/wp-content/uploads/2023/07/LVS-Advisory-Letter-Q2-2023.pdf">LVS Advisory</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/GOGO " target="_blank">GOGO </a><a href="https://roic.ai/company/IBKR " target="_blank">IBKR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://img1.wsimg.com/blobby/go/c10d5993-4abc-4a97-baea-c72b4e5c6857/Q2%202023-1dd60db.pdf">Ace River Capital</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/DSHK " target="_blank">DSHK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.claret.ca/wp-content/uploads/2023/07/Quarterly-Letter-Q2-2023-Claret-1-1.pdf">Claret Asset Management</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://wedgewoodpartners.com/wp-content/uploads/2023/07/Wedgewood-2QLetter.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/AAPL" target="_blank">AAPL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://files.constantcontact.com/e71b08bb301/d50a4b57-8d54-49ac-a5de-32a3e9c57fc2.pdf?rdr=true">Bernzott Capital Advisors</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/GDEN " target="_blank">GDEN </a><a href="https://roic.ai/company/ENOV " target="_blank">ENOV </a><a href="https://roic.ai/company/COOP " target="_blank">COOP </a><a href="https://roic.ai/company/PLXS" target="_blank">PLXS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/64b56fc992a88971c9cb86e0/1689612233690/Upslope+-+2023Q2+Letter.pdf">Upslope Capital Management</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/GRMN " target="_blank">GRMN </a><a href="https://roic.ai/company/JPXGY " target="_blank">JPXGY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2023Q2.pdf">Frontaura Global Frontier Fund LLC </a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/QUINENCO.SN" target="_blank">QUINENCO.SN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.ithakagroup.com/_files/ugd/a80814_a83373b314134311bc35e514aa6e65bc.pdf">The Ithaka Group</a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/MSFT " target="_blank">MSFT </a><a href="https://roic.ai/company/PODD " target="_blank">PODD </a><a href="https://roic.ai/company/MELI " target="_blank">MELI </a><a href="https://roic.ai/company/PYPL" target="_blank">PYPL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-6.30.23.pdf">Baron Health Care Fund</a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/BSX " target="_blank">BSX </a><a href="https://roic.ai/company/VEEV " target="_blank">VEEV </a><a href="https://roic.ai/company/EXAS " target="_blank">EXAS </a><a href="https://roic.ai/company/LEGN " target="_blank">LEGN </a><a href="https://roic.ai/company/ACLX" target="_blank">ACLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-6.30.23.pdf">Baron Real Estate Fund</a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/EQIX " target="_blank">EQIX </a><a href="https://roic.ai/company/DLR " target="_blank">DLR </a><a href="https://roic.ai/company/IBP" target="_blank">IBP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.whitebrookcapital.com/copy-of-1q2023-commentary">Whitebrook Capital Partners </a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/U" target="_blank">U</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.okeefestevens.com/quarterly-investor-letter-q2-2023/">O'Keefe Stevens</a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/SPHR " target="_blank">SPHR </a><a href="https://roic.ai/company/BOWL" target="_blank">BOWL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.cohopartners.com/insights/portfolio-insights/coho-relative-value-equity-2023-second-quarter/">Coho Relative Value Equity</a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/CVS " target="_blank">CVS </a><a href="https://roic.ai/company/DG " target="_blank">DG </a><a href="https://roic.ai/company/USB " target="_blank">USB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://gbcvalue.com/wp-content/uploads/2023/07/2023-Q2_Gehlen-Braeutigam-Value-HI-–-Letter-to-Partners-20-EN.pdf">Gehlen Bräutigam Capital GmbH</a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/54951a51-028a-4a5d-18f6-0d673ba638e9/Second_Quarter_2023_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-6.30.23.pdf">Baron Asset Fund</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/MORN " target="_blank">MORN </a><a href="https://roic.ai/company/BAH " target="_blank">BAH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets-global.website-files.com/61665daf5ae71578a6b4b2e4/64b49921ebc2eda6da3a8796_30062023%20CI%20AUSTRALIAN%20EQUITIES%20FUND.pdf">Cooper Investors CI Australian Equities Fund</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/WOR.AX " target="_blank">WOR.AX </a><a href="https://roic.ai/company/AZJ.AX " target="_blank">AZJ.AX </a><a href="https://roic.ai/company/IFT.AX " target="_blank">IFT.AX </a><a href="https://roic.ai/company/EBO.NZ " target="_blank">EBO.NZ </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets-global.website-files.com/61665daf5ae71578a6b4b2e4/64b09aac6f638e1c0303815b_30062023%20CI%20GLOBAL%20EQUITIES%20FUND%20(HEDGED).pdf">Cooper Investors Global Equity Fund (Hedged)</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/ULTA " target="_blank">ULTA </a><a href="https://roic.ai/company/CDW " target="_blank">CDW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets-global.website-files.com/61665daf5ae71578a6b4b2e4/64b099f1e096311aefca341a_30062023%20CI%20GLOBAL%20EQUITIES%20FUND%20(UNHEDGED).pdf">Cooper Investors Global Equity Fund (Unhedged)</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tidefallcapital.com/_files/ugd/8a849d_8e5c8bcf0e6c4a7fabe7dd73af5f70a9.pdf">Tidefall Capital Management</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/FHN " target="_blank">FHN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mooncap.com/2023-q2-letter/">Moon Capital</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/FHN " target="_blank">FHN </a><a href="https://roic.ai/company/CNQ " target="_blank">CNQ </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://alluvialcapital.com/wp-content/uploads/2023/07/Alluvial-Capital-Management-Q2-2023-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/LTKBF " target="_blank">LTKBF </a><a href="https://roic.ai/company/PLPC " target="_blank">PLPC </a><a href="https://roic.ai/company/MCHB " target="_blank">MCHB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/64badaa2b743f43df05f5d0f/1689967267033/Q2+2023+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/PROM " target="_blank">PROM </a><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/SODI" target="_blank">SODI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mindsetvalue.substack.com/p/the-mindset-value-wellness-q2-2023?utm_source=post-email-title&publication_id=64257&post_id=134871715&isFreemail=true&utm_medium=email">Mindset Value Wellness Fund</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/GFUSF " target="_blank">GFUSF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://hoisington.com/pdf/HIM2023Q2NP.pdf">Hoisington Investment Management</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervalue.com/market-weighing-machine-long-term/">Miller Deep Value</a></td><td>7/24/2023</td><td><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/WAL " target="_blank">WAL </a><a href="https://roic.ai/company/GTN" target="_blank">GTN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervalue.com/income-strategy-2q-2023-letter-2/">Miller Income Strategy</a></td><td>7/24/2023</td><td><a href="https://roic.ai/company/RILY " target="_blank">RILY </a><a href="https://roic.ai/company/OMF " target="_blank">OMF </a><a href="https://roic.ai/company/MPW " target="_blank">MPW </a><a href="https://roic.ai/company/JXN " target="_blank">JXN </a><a href="https://roic.ai/company/VALE " target="_blank">VALE </a><a href="https://roic.ai/company/OGN" target="_blank">OGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2023.pdf">L1 Capital Long Short Fund</a></td><td>7/24/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/64be05444e524004b004387b/1690174788158/2023+Q2.pdf">Blue Tower Asset Management</a></td><td>7/24/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://l1international.com/wp-content/uploads/2023/07/L1-Capital-International-Jun-2023-Quarterly.pdf">L1 International Capital Fund</a></td><td>7/24/2023</td><td><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.deepsailcapital.com/_files/ugd/50dba3_782c984edfbc410697bfba78ea0233b1.pdf">Deep Sail Capital</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/RCMT " target="_blank">RCMT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/07/2023_2Q_Commentary_CE.pdf">Aristotle - Core Equity</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/SNPS" target="_blank">SNPS</a><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/07/2023_06_Portfolio-Commentary_FG.pdf">Aristotle - Focus Growth</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/SPGI " target="_blank">SPGI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/07/2023_2Q_Commentary_IE.pdf">Aristotle - International Equity ADR</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/07/2023_2Q_Commentary_LCG.pdf">Aristotle - Large Cap Growth</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/SPGI " target="_blank">SPGI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/resource/small-cap-equity-2q-2023-c/">Aristotle - Small Cap Equity</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/GXO " target="_blank">GXO </a><a href="https://roic.ai/company/CRNC " target="_blank">CRNC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/07/2023_2Q_Commentary_SMID.pdf">Aristotle - Small/Mid Cap Equity</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/GXO " target="_blank">GXO </a><a href="https://roic.ai/company/POOL" target="_blank">POOL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/07/2023_2Q_Commentary_VE.pdf">Aristotle - Value Equity</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/ATVI" target="_blank">ATVI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/Archive/REIFX/2023-Q2-REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/SWRBY " target="_blank">SWRBY </a><a href="https://roic.ai/company/SVAUF " target="_blank">SVAUF </a><a href="https://roic.ai/company/BOWFF " target="_blank">BOWFF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/Archive/TAREX/2023-Q2-TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/SUI" target="_blank">SUI</a><a href="https://roic.ai/company/JLL " target="_blank">JLL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/Archive/TASCX/2023-Q2-TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/Archive/TAVFX/2023-Q2-TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/HRIBF " target="_blank">HRIBF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/f68301a3-96e3-5152-903f-7d566bd3dd9a/SilverRingValuePartners_2023Q2_Letter_7_17.pdf">Silver Ring Value Partners</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://ensemblecapital.com/wp-content/uploads/2023/07/ECM-Quarterly-Letter-2Q23.pdf">Ensemble Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/NOW" target="_blank">NOW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202306/Commentary-Small-Cap-Fund-2023-06-30.pdf?c=638259774730000000">Diamond Hill Small Cap Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/UFPT " target="_blank">UFPT </a><a href="https://roic.ai/company/CALM " target="_blank">CALM </a><a href="https://roic.ai/company/ASH " target="_blank">ASH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/04/Portfolio-Commentary_Large-Cap-Q2-2023_Russell-1000.pdf">The London Company - Large Cap</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/RSG " target="_blank">RSG </a><a href="https://roic.ai/company/ALB" target="_blank">ALB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/04/Portfolio-Commentary_Mid-Cap-Q2-2023_Russell-Midcap.pdf">The London Company - Mid Cap</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/VMC " target="_blank">VMC </a><a href="https://roic.ai/company/LII " target="_blank">LII </a><a href="https://roic.ai/company/UNF " target="_blank">UNF </a><a href="https://roic.ai/company/SWKS " target="_blank">SWKS </a><a href="https://roic.ai/company/CINF" target="_blank">CINF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/04/Portfolio-Commentary_Small-Cap-Q2-2023_Russell-2000.pdf">The London Company - Small Cap</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/MATX " target="_blank">MATX </a><a href="https://roic.ai/company/MUSA " target="_blank">MUSA </a><a href="https://roic.ai/company/ENOV " target="_blank">ENOV </a><a href="https://roic.ai/company/NGVT " target="_blank">NGVT </a><a href="https://roic.ai/company/AUB " target="_blank">AUB </a><a href="https://roic.ai/company/CTS " target="_blank">CTS </a><a href="https://roic.ai/company/CABO " target="_blank">CABO </a><a href="https://roic.ai/company/CWST " target="_blank">CWST </a><a href="https://roic.ai/company/MRTN" target="_blank">MRTN</a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/04/Portfolio-Commentary_SMID-Cap-Q2-2023_Russell-2500.pdf">The London Company - Small-Mid Cap</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/DECK " target="_blank">DECK </a><a href="https://roic.ai/company/THG " target="_blank">THG </a><a href="https://roic.ai/company/UNF " target="_blank">UNF </a><a href="https://roic.ai/company/ST" target="_blank">ST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638259853870000000">Weitz Partners III Opportunity Fund</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/PRM " target="_blank">PRM </a><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/LBTYK" target="_blank">LBTYK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638259853870000000">Weitz Partners Value Fund</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638259853870000000">Weitz Value Fund</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/CHTR" target="_blank">CHTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/64b578fb188f55445b7cc1de/1689614587969/Laughing+Water+Capital+H1%2723+Letter.pdf">Laughing Water Capital</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/HGV " target="_blank">HGV </a><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/BVHMF " target="_blank">BVHMF </a><a href="https://roic.ai/company/ENZ" target="_blank">ENZ</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://headwaterscapmgmt.com/wp-content/uploads/2023/07/HCM-Q2-23-Investor-Letter.pdf">Headwaters Capital</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/TMDX " target="_blank">TMDX </a><a href="https://roic.ai/company/NSIT " target="_blank">NSIT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://choice-equities.com/wp-content/uploads/2023/07/2023-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td>7/28/2023</td><td><a href="https://roic.ai/company/MGNI " target="_blank">MGNI </a><a href="https://roic.ai/company/STGW " target="_blank">STGW </a><a href="https://roic.ai/company/PLCE" target="_blank">PLCE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static.fmgsuite.com/media/documents/94f6fbde-ef84-4d0e-8c91-42b6c6dd36ad.pdf">Conestoga Capital Advisors, LLC</a></td><td>7/28/2023</td><td><a href="https://roic.ai/company/FSS " target="_blank">FSS </a><a href="https://roic.ai/company/PL " target="_blank">PL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.legacyridgecapital.com/wp-content/uploads/2023/07/LRCM-1H23-Letter.pdf">Legacy Ridge Capital Management</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/ETRN " target="_blank">ETRN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/ARTYX-APDYX-APHYX-QCommentary-2Q23-vR.pdf">Artisan Developing World Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/ARTTX-APDTX-APHTX-QCommentary-2Q23-vR.pdf">Artisan Focus Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/APFDX-APDDX-APHDX-QCommentary-2Q23-vR.pdf">Artisan Global Discovery Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/DIM:FP " target="_blank">DIM:FP </a><a href="https://roic.ai/company/603605:CH" target="_blank">603605:CH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/ARTKX-APDKX-APHKX-QCommentary-2Q23-vR.pdf">Artisan International Value Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/ARTMX-APDMX-APHMX-QCommentary-2Q23-vR.pdf">Artisan Mid Cap Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/KEY " target="_blank">KEY </a><a href="https://roic.ai/company/RBLX " target="_blank">RBLX </a><a href="https://roic.ai/company/FWONK" target="_blank">FWONK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/ARTSX-APDSX-APHSX-QCommentary-2Q23-vR.pdf">Artisan Small Cap Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/DUOL " target="_blank">DUOL </a><a href="https://roic.ai/company/SPXC " target="_blank">SPXC </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/ARTLX-APDLX-APHLX-QCommentary-2Q23-vR.pdf">Artisan Value Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2023/07/Second-Quarter-2023-SouthernSun-Small-Cap-Strategy-Composite-Commentary.pdf">SouternSun Small Cap</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/DY " target="_blank">DY </a><a href="https://roic.ai/company/USPH " target="_blank">USPH </a><a href="https://roic.ai/company/NGVT " target="_blank">NGVT </a><a href="https://roic.ai/company/DORM " target="_blank">DORM </a><a href="https://roic.ai/company/UNVR " target="_blank">UNVR </a><a href="https://roic.ai/company/BOOT" target="_blank">BOOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2023/07/Second-Quarter-2023-SouthernSun-SMID-Cap-Composite-Commentary.pdf">SouternSun SMID Cap</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/DY " target="_blank">DY </a><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/NGVT " target="_blank">NGVT </a><a href="https://roic.ai/company/USPH " target="_blank">USPH </a><a href="https://roic.ai/company/MGPI" target="_blank">MGPI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fairlightcapital.com/_files/ugd/a6cb30_5fa25f6e065246edbb49fc2882f186ca.pdf">Fairlight Alpha Fund LP</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/OPRA " target="_blank">OPRA </a><a href="https://roic.ai/company/INT.ST" target="_blank">INT.ST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/64c2a994b20f595cd5a93a81/1690478996459/Q2+2023+Letter.pdf">Curreen Capital</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mcjcapitalpartners.com/q2-2023-update">MCJ Capital Partners</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://horizonkinetics.com/app/uploads/Q2-23-Commentary_FINAL.pdf">Horizon Kinetics</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/MIAX " target="_blank">MIAX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mhinvest.com/download.html?docId=3208">Miller/Howard Investments</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2023/2023%20Q2%20Letter%20Approved%20V2.pdf?utm_medium=email&_hsmi=268306262&_hsenc=p2ANqtz--duICeqSNEDddaHcIuP1JZijt4ICJuVTw-9AZuBAZQ98QDAcVXDCASvNiBNXg-hvCvfC6Slq5r-f4J7PzSidM3PT1TwA&utm_content=268306262&utm_source=hs_email">Praetorian Capital </a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary.pdf">Polen Capital - Focus Growth</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/WDAY " target="_blank">WDAY </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary.pdf">Polen Capital - Global Growth</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/WDAY " target="_blank">WDAY </a><a href="https://roic.ai/company/GLOB" target="_blank">GLOB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary.pdf">Polen Capital - International Growth</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary.pdf">Polen Capital - U.S. Small Company Growth</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/LESL " target="_blank">LESL </a><a href="https://roic.ai/company/ALIT " target="_blank">ALIT </a><a href="https://roic.ai/company/SITM" target="_blank">SITM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary.pdf">Polen Capital - Global SMID Company Growth</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/ALIT " target="_blank">ALIT </a><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/SFTTF " target="_blank">SFTTF </a><a href="https://roic.ai/company/TMRAF" target="_blank">TMRAF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary.pdf">Polen Capital - U.S. SMID Company Growth </a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/ALIT " target="_blank">ALIT </a><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/MORN" target="_blank">MORN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://boyarresearch.substack.com/p/boyar-researchs-quarterly-letter?sd=pf&_hsmi=266213180&_hsenc=p2ANqtz-8nvVeKPhRj44NEW6voZlgnSri3fU1OdYQJICkEnp62XJQCQtsoB6ZM4bH4PrS4FxUc14NeUDYVLBoNwdb-SA3ra2U6iA">Boyar Value Group</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/4522df4fcbfa5be002117f260/files/78ac717f-3767-65a5-a490-5428245832c2/Maran_Partners_Fund_LP_2023_2Q_Letter.pdf">Maran Capital Management</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/CDRE " target="_blank">CDRE </a><a href="https://roic.ai/company/CLAR " target="_blank">CLAR </a><a href="https://roic.ai/company/CTTOF " target="_blank">CTTOF </a><a href="https://roic.ai/company/BVHMF " target="_blank">BVHMF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://app.hubspot.com/documents/22324760/view/635945262?accessId=db9bba">Broyhill Asset Management</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/NTDOY " target="_blank">NTDOY </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://files.constantcontact.com/920f57ab801/91eb87b8-d678-482b-8b10-16def7b692c3.pdf">Immersion Investments</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/MPAA " target="_blank">MPAA </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/FC " target="_blank">FC </a><a href="https://roic.ai/company/IDT " target="_blank">IDT </a><a href="https://roic.ai/company/PBPB " target="_blank">PBPB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets.thirdpointlimited.com/f/166217/x/44aad2e051/third-point-q2-2023-investor-letter-tpil.pdf">Third Point Offshore Fund</a></td><td>8/03/2023</td><td><a href="https://roic.ai/company/DHR " target="_blank">DHR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Growth_Fund_Commentary.pdf">Mairs & Power Growth Fund</a></td><td>8/03/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Small_Cap_Fund_Commentary.pdf">Mairs & Power Small Cap Fund</a></td><td>8/03/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-6.30.23_0.pdf">Baron Discovery Fund</a></td><td>8/03/2023</td><td><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/STVN " target="_blank">STVN </a><a href="https://roic.ai/company/DH" target="_blank">DH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://donvillekent.com/wp-content/uploads/2023/07/DKAM-ROE-Reporter-July-Final.pdf">Donville Kent Asset Management</a></td><td>8/07/2023</td><td><a href="https://roic.ai/company/RTMAF " target="_blank">RTMAF </a><a href="https://roic.ai/company/TCX " target="_blank">TCX </a><a href="https://roic.ai/company/SANG " target="_blank">SANG </a><a href="https://roic.ai/company/HMDPF " target="_blank">HMDPF </a><a href="https://roic.ai/company/DE.V" target="_blank">DE.V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Fund-Quarterly-Letter-6.30.23.pdf">Baron Fifth Avenue Growth Fund</a></td><td>8/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-6.30.23.pdf">Baron FinTech Fund</a></td><td>8/07/2023</td><td><a href="https://roic.ai/company/NU" target="_blank">NU</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://vulcanvaluepartners.com/core/uploads/2023/07/VVP-Quarterly-Letter-23.06.30.pdf">Vulcan Value Partners</a></td><td>8/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20230630.pdf">Rondure Global</a></td><td>8/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/b31fc288ff34d8bcaac5a79ef/files/6fdc4ebe-3f72-57da-d8cc-537f3e99c526/2023.06.30_2Q_2023_Letter_to_Investors_1_.pdf">Argosy Investors</a></td><td>8/10/2023</td><td><a href="https://roic.ai/company/DAVA" target="_blank">DAVA </a><a href="https://roic.ai/company/ZROZ " target="_blank">ZROZ </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/64cd0af1b79159412cd52282/1691159281559/Greenhaven+Road+-+2023+Q2+FINAL+-+PUBLIC.pdf">Greenhaven Road Capital</a></td><td>8/10/2023</td><td><a href="https://roic.ai/company/HGTY " target="_blank">HGTY </a><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/SPHR " target="_blank">SPHR </a><a href="https://roic.ai/company/BNED " target="_blank">BNED </a><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/PAR" target="_blank">PAR</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://gatorcapital.com/wp-content/uploads/2023/08/20230724-GFP-2023-Q2-Letter.pdf">Gator Capital Management</a></td><td>8/10/2023</td><td><a href="https://roic.ai/company/OSBC " target="_blank">OSBC </a><a href="https://roic.ai/company/HIFS " target="_blank">HIFS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.vgipartners.com/wp-content/uploads/2023/08/VGI-Partners-Global-Investments-Investor-Letter-Aug-2023.pdf">VGI Partners Global Investments</a></td><td>8/10/2023</td><td><a href="https://roic.ai/company/CME " target="_blank">CME </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/GEHC " target="_blank">GEHC </a><a href="https://roic.ai/company/DBOEY " target="_blank">DBOEY </a><a href="https://roic.ai/company/LNSTY " target="_blank">LNSTY </a><a href="https://roic.ai/company/DSFIR.AS " target="_blank">DSFIR.AS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.crescat.net/monetary-vs-fiscal-dissonance/">Crestcat Capital</a></td><td>8/10/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://drive.google.com/file/d/1pczgr1Z5YAQkFMFFvlEIJcojsGVEk0Is/view?pli=1">Greenlight Capital</a></td><td>8/15/2023</td><td><a href="https://roic.ai/company/NPWR " target="_blank">NPWR </a><a href="https://roic.ai/company/ONEXF " target="_blank">ONEXF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://saltlightcapital.com/saltlight-snn-worldwide-flexible-fund-investor-letter-2q23/">Saltlight Capital </a></td><td>8/15/2023</td><td><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/LRCX " target="_blank">LRCX </a><a href="https://roic.ai/company/ASML " target="_blank">ASML </a><a href="https://roic.ai/company/APP " target="_blank">APP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/64d67771cad6034705ca3500/1691776882064/GCAM+Q2+2023+letter_.pdf">Giverny Capital Asset Management</a></td><td>8/15/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-6.30.23.pdf">Baron Opportunity Fund</a></td><td>8/15/2023</td><td><a href="https://roic.ai/company/WWE " target="_blank">WWE </a><a href="https://roic.ai/company/MBLY " target="_blank">MBLY </a><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://d1io3yog0oux5.cloudfront.net/_cfb74fad6e3fbf47c7855442671f43e1/180degreecapital/db/373/2892/letter_to_shareholders/Q2+2023+Shareholder+Letter+-+FINAL.pdf">180 Degree Capital Corp.</a></td><td>8/16/2023</td><td><a href="https://roic.ai/company/SNCR " target="_blank">SNCR </a><a href="https://roic.ai/company/AREN " target="_blank">AREN </a><a href="https://roic.ai/company/SCOR " target="_blank">SCOR </a><a href="https://roic.ai/company/IVAC " target="_blank">IVAC </a><a href="https://roic.ai/company/PRBM " target="_blank">PRBM </a><a href="https://roic.ai/company/CVGI " target="_blank">CVGI </a><a href="https://roic.ai/company/QBTS " target="_blank">QBTS </a><a href="https://roic.ai/company/PBPB" target="_blank">PBPB</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://sohrapeakcapital.com/wp-content/uploads/2023/08/Sohra-Peak-Capital-Partners-Partnership-Letter-Q2-2023.pdf">Sohra Peak Capital Partners</a></td><td>9/08/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
</tbody>
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<br />
<br />
<br />
<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">1st Quarter 2023</span>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th>
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<tr><td><a href="https://east72.com.au/wp-content/uploads/2023/04/E72DT-QUARTERLY-REPORT-Mar-2023.pdf">East72 Dynasty Trust</a></td><td>4/03/2023</td><td><a href="https://roic.ai/company/BAIN.PA " target="_blank">BAIN.PA </a><a href="https://roic.ai/company/VWAGY" target="_blank">VWAGY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://stjic.com/wp-content/uploads/2023/04/STJIC-Adviser-Letter-2023-Q1-v2.pdf">St. James Investment Company </a></td><td>4/06/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/642e7873a1ee6b44bd6933e3/1680767092090/Q12023.pdf">Comus Investments</a></td><td>4/06/2023</td><td><a href="https://roic.ai/company/1023.HK " target="_blank">1023.HK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_c0d0844318294a93b988e858fd3274da.pdf">Palm Valley Capital Fund</a></td><td>4/06/2023</td><td><a href="https://roic.ai/company/CRD-A " target="_blank">CRD-A </a><a href="https://roic.ai/company/CRD-B " target="_blank">CRD-B </a><a href="https://roic.ai/company/MLR " target="_blank">MLR </a><a href="https://roic.ai/company/GENC" target="_blank">GENC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.boyarvaluegroup.com/wp-content/uploads/2023/04/BVG_letter_2023_Q1.pdf">Boyar Value Group</a></td><td>4/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.vltavafund.com/dopisy-akcionarum/allocation">Vltava Fund</a></td><td>4/07/2023</td><td><a href="https://roic.ai/company/JFBHF" target="_blank">JFBHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/f3dfc645-8afe-0274-a808-6c7ff4fd996b/First_Quarter_2023_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td>4/08/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/8fe1787b-e848-89c6-54f4-6997a2d868c9/March_2023_Investor_Letter_Who_will_fill_the_voidvfin.pdf">Richie Capital Group</a></td><td>4/11/2023</td><td><a href="https://roic.ai/company/PERI " target="_blank">PERI </a><a href="https://roic.ai/company/FIX " target="_blank">FIX </a><a href="https://roic.ai/company/MSCI " target="_blank">MSCI </a><a href="https://roic.ai/company/AMT " target="_blank">AMT </a><a href="https://roic.ai/company/ATEN " target="_blank">ATEN </a><a href="https://roic.ai/company/AMT" target="_blank">AMT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.lrtcapital.com/wp-content/uploads/2023/04/2023-03-March-Investor-Update.pdf?utm_source=newsletter&utm_medium=email&utm_term=2023-04-11&utm_campaign=LRT+Capital+March+2023+-+Investor+Update">LRT Capital</a></td><td>4/11/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2023_03_15.pdf">Myrmikan Research</a></td><td>4/11/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fmimgt.com/fmi/corp/Letters/iso_20230331.pdf">Fiduciary Management Inc.</a></td><td>4/11/2023</td><td><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/FBIN " target="_blank">FBIN </a><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://gbcvalue.com/wp-content/uploads/2023/04/2023-Q1_Gehlen-Braeutigam-Value-HI-%E2%80%93-Letter-to-Partners-19-EN.pdf">Gehlen Bräutigam Capital GmbH</a></td><td>4/12/2023</td><td><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/GYYMF " target="_blank">GYYMF </a><a href="https://roic.ai/company/0OPA.L " target="_blank">0OPA.L </a><a href="https://roic.ai/company/SEIGY " target="_blank">SEIGY </a><a href="https://roic.ai/company/SKB.DE " target="_blank">SKB.DE </a><a href="https://roic.ai/company/HLFFF " target="_blank">HLFFF </a><a href="https://roic.ai/company/KSB.DE" target="_blank">KSB.DE</a><a href="https://roic.ai/company/KSB.DE" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rowanstreet.com/post/rowan-street-q1-2023-letter">Rowan Street Capital</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/TTD" target="_blank">TTD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.akrefund.com/wp-content/uploads/2023/04/Akre-Focus-Fund-Quarterly-Commentary-2023-Q1.pdf#page=1">Akre Focus Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://lvsadvisory.com/wp-content/uploads/2023/04/LVS-Advisory-Letter-Q1-2023.pdf">LVS Advisory</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/ABMD-CVR " target="_blank">ABMD-CVR </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/JYNT " target="_blank">JYNT </a><a href="https://roic.ai/company/GOGO " target="_blank">GOGO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/1Q23-Mid-Cap-Comm">Heartland Mid Cap Value Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/CNC " target="_blank">CNC </a><a href="https://roic.ai/company/INGR " target="_blank">INGR </a><a href="https://roic.ai/company/IBKR " target="_blank">IBKR </a><a href="https://roic.ai/company/TDC" target="_blank">TDC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/1Q23-Value-Fund-Comm">Heartland Value Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/FIBK " target="_blank">FIBK </a><a href="https://roic.ai/company/CGAU " target="_blank">CGAU </a><a href="https://roic.ai/company/NSA " target="_blank">NSA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/1Q23-VP-Comm">Heartland Value Plus Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/AVNS" target="_blank">AVNS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://img1.wsimg.com/blobby/go/c10d5993-4abc-4a97-baea-c72b4e5c6857/Q1%202023.pdf">Ace River Capital</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/HZO" target="_blank">HZO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-fund-first-calendar-quarter-2023/">Oakmark Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/KR " target="_blank">KR </a><a href="https://roic.ai/company/TFC " target="_blank">TFC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-calendar-quarter-2023/">Oakmark Global Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/CGEMY " target="_blank">CGEMY </a><a href="https://roic.ai/company/COF " target="_blank">COF </a><a href="https://roic.ai/company/COP " target="_blank">COP </a><a href="https://roic.ai/company/ICE " target="_blank">ICE </a><a href="https://roic.ai/company/NVST" target="_blank">NVST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-calendar-quarter-2023/">Oakmark Global Select Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/GOOG" target="_blank">GOOG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-fund-first-calendar-quarter-2023/">Oakmark International Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/CON.DE " target="_blank">CON.DE </a><a href="https://roic.ai/company/GLCNF " target="_blank">GLCNF </a><a href="https://roic.ai/company/ERFSF " target="_blank">ERFSF </a><a href="https://roic.ai/company/BNTGF" target="_blank">BNTGF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-first-calendar-quarter-2023/">Oakmark International Small Cap Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/TMVWY " target="_blank">TMVWY </a><a href="https://roic.ai/company/OSP2.DE " target="_blank">OSP2.DE </a><a href="https://roic.ai/company/CIGI " target="_blank">CIGI </a><a href="https://roic.ai/company/KSANF " target="_blank">KSANF </a><a href="https://roic.ai/company/MEDX.SW" target="_blank">MEDX.SW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-calendar-quarter-2023/">Oakmark Select Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="http://covestreetfunds.com/wp-content/uploads/2023/04/CSCAX_2023-03-31_Shareholder_Letter_Final.pdf">Cove Street Capital</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/SSP " target="_blank">SSP </a><a href="https://roic.ai/company/NUVA " target="_blank">NUVA </a><a href="https://roic.ai/company/HNRG " target="_blank">HNRG </a><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/CLMB " target="_blank">CLMB </a><a href="https://roic.ai/company/CLMB " target="_blank">GLDD </a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTYX-APDYX-APHYX-QCommentary-1Q23-vR.pdf">Artisan Developing World Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/SE" target="_blank">SE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2023Q1.pdf">Frontaura Global Frontier Fund LLC </a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.righttailcapital.com/_files/ugd/9593df_636c8638dfa24341b4a23ebd4ffd47c6.pdf">Right Tail Capital</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/LAD" target="_blank">LAD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonDividendIncome-ISL.pdf">Madison Dividend Income Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/UPS " target="_blank">UPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonInvestorsFund-ISL.pdf">Madison Investors Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/USB " target="_blank">USB </a><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonMidCap-ISL.pdf">Madison Mid Cap Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSmallCap-ISL.pdf">Madison Small Cap Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSustainableEquityFund-ISL.pdf">Madison Sustainable Equity Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/LLY " target="_blank">LLY </a><a href="https://roic.ai/company/DHR " target="_blank">DHR </a><a href="https://roic.ai/company/ORCL" target="_blank">ORCL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/64368ee6b157b05bc0ccb151/1681297127076/Q1%2723+letter.pdf">1 Main Capital Partners</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/DNTL " target="_blank">DNTL </a><a href="https://roic.ai/company/LMB " target="_blank">LMB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/635cafa2259a125cc55eae33/t/64387c7cf1e5c4626d787d38/1681423485063/Atai+Capital+-+Q1-2023+Letter.pdf">Atai Capital Management</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/ALOT " target="_blank">ALOT </a><a href="https://roic.ai/company/ATVI " target="_blank">ATVI </a><a href="https://roic.ai/company/CABO " target="_blank">CABO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.ithakagroup.com/_files/ugd/a80814_a0e88abb324448e5997e79b84d68c740.pdf">The Ithaka Group</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/MSFT " target="_blank">MSFT </a><a href="https://roic.ai/company/ISRG " target="_blank">ISRG </a><a href="https://roic.ai/company/SNOW " target="_blank">SNOW </a><a href="https://roic.ai/company/DXCM" target="_blank">DXCM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://wedgewoodpartners.com/wp-content/uploads/2023/04/1Q2023ClientLetter.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/SPGI " target="_blank">SPGI </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TSM " target="_blank">TSM </a><a href="https://roic.ai/company/TSM " target="_blank">GOOG </a></td></tr>
<tr><td><a href="https://distillatecapital.com/wp-content/uploads/2023/04/Q1-2023-Letter.pdf">Distillate Capital</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/643cc7de74206766c2cfe31a/1681704926120/2023+Q1.pdf">Blue Tower Asset Management</a></td><td>4/17/2023</td><td><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2023/04/1Q-2023-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2023/04/1Q-2023-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/643d46ae3621b5582b786995/1681737391548/Upslope+-+2023Q1+Letter.pdf">Upslope Capital Management</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/FTT.TO" target="_blank">FTT.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2023/">Cooper Investors Global Equity Fund (Hedged)</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2023/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://files.constantcontact.com/e71b08bb301/f100647c-b579-4eb1-b182-0d9553ac3403.pdf?rdr=true">Bernzott Capital Advisors</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/GVA " target="_blank">GVA </a><a href="https://roic.ai/company/ATSG " target="_blank">ATSG </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/HLMN " target="_blank">HLMN </a><a href="https://roic.ai/company/PTEN" target="_blank">PTEN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.oldwestim.com/_files/ugd/718a37_8cee40a0b4ec4b4486478e0b2e0d32be.pdf">Old West Capital Management</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/AFM " target="_blank">AFM </a><a href="https://roic.ai/company/BG " target="_blank">BG </a><a href="https://roic.ai/company/WLDBF" target="_blank">WLDBF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_7a31fdc7d2c343b9a5009b02ef61b2ef.pdf">Merion Road Capital</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/MWA " target="_blank">MWA </a><a href="https://roic.ai/company/WCC " target="_blank">WCC </a><a href="https://roic.ai/company/RFIL " target="_blank">RFIL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1681937498394">Miller Income Strategy</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/HDELY " target="_blank">HDELY </a><a href="https://roic.ai/company/MSTR " target="_blank">MSTR </a><a href="https://roic.ai/company/JXN " target="_blank">JXN </a><a href="https://roic.ai/company/VNA.DE " target="_blank">VNA.DE </a><a href="https://roic.ai/company/MPW " target="_blank">MPW </a><a href="https://roic.ai/company/VTRS" target="_blank">VTRS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervalue.com/dont-forget-value-and-small/">Miller Deep Value</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/MHO " target="_blank">MHO </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary.pdf">Polen Capital - Global Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/MSFT " target="_blank">MSFT </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/ABT " target="_blank">ABT </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/MA " target="_blank">MA </a><a href="https://roic.ai/company/MA " target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary.pdf">Polen Capital - Global SMID Company Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/GSHD " target="_blank">GSHD </a><a href="https://roic.ai/company/DAVA " target="_blank">DAVA </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary.pdf">Polen Capital - International Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/TLPFY " target="_blank">TLPFY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary.pdf">Polen Capital - International Small Company Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/FQVTF " target="_blank">FQVTF </a><a href="https://roic.ai/company/CMPUY " target="_blank">CMPUY </a><a href="https://roic.ai/company/KXSCF " target="_blank">KXSCF </a><a href="https://roic.ai/company/SVPLF " target="_blank">SVPLF </a><a href="https://roic.ai/company/MYTE " target="_blank">MYTE </a><a href="https://roic.ai/company/DAVA " target="_blank">DAVA </a><a href="https://roic.ai/company/JDG.L" target="_blank">JDG.L</a><a href="https://roic.ai/company/JDG.L" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary.pdf">Polen Capital - U.S. Small Company Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/WRBY " target="_blank">WRBY </a><a href="https://roic.ai/company/BMBL " target="_blank">BMBL </a><a href="https://roic.ai/company/ALIT " target="_blank">ALIT </a><a href="https://roic.ai/company/DCGO " target="_blank">DCGO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary.pdf">Polen Capital - U.S. SMID Company Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/WRBY " target="_blank">WRBY </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/MPWR" target="_blank">MPWR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervalue.com/opportunity-equity-1q2023-commentary/">Miller Opportunity Equity</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/UBS " target="_blank">UBS </a><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.whitebrookcapital.com/1q2023-commentary">Whitebrook Capital Partners </a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/GPRE " target="_blank">GPRE </a><a href="https://roic.ai/company/RILY " target="_blank">RILY </a><a href="https://roic.ai/company/KAR " target="_blank">KAR </a><a href="https://roic.ai/company/MOS " target="_blank">MOS </a><a href="https://roic.ai/company/AFYA" target="_blank">AFYA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://ensemblefund.com/first-quarter-2023-investment-update/">Ensemble Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/RACE " target="_blank">RACE </a><a href="https://roic.ai/company/CMG " target="_blank">CMG </a><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.okeefestevens.com/wp-content/uploads/2023/01/Q1-2023-Value-Connection-Newsletter.pdf">O'Keefe Stevens</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-3.31.23.pdf">Baron Real Estate Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/BN " target="_blank">BN </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/RRR" target="_blank">RRR</a><a href="https://roic.ai/company/ARE " target="_blank">ARE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-3.31.23_0.pdf">Baron Discovery Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/DKNG " target="_blank">DKNG </a><a href="https://roic.ai/company/CERT " target="_blank">CERT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2023/2023%20Q1%20Letter%20-Approved.pdf">Praetorian Capital </a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-3.31.23.pdf">Baron Health Care Fund</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/RXDX " target="_blank">RXDX </a><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/WST " target="_blank">WST </a><a href="https://roic.ai/company/DXCM " target="_blank">DXCM </a><a href="https://roic.ai/company/EXAS " target="_blank">EXAS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_CE.pdf">Aristotle - Core Equity</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/ZTS " target="_blank">ZTS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_FG.pdf">Aristotle - Focus Growth</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_IE-ADR.pdf">Aristotle - International Equity ADR</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_LCG.pdf">Aristotle - Large Cap Growth</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/ENPH " target="_blank">ENPH </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/BMRN " target="_blank">BMRN </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_SC.pdf">Aristotle - Small Cap Equity</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/HASI " target="_blank">HASI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_SMID.pdf">Aristotle - Small/Mid Cap Equity</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/HASI " target="_blank">HASI </a><a href="https://roic.ai/company/TFX " target="_blank">TFX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_VE.pdf">Aristotle - Value Equity</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTTX-APDTX-APHTX-QCommentary-1Q23-vR.pdf">Artisan Focus Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTKX-APDKX-APHKX-QCommentary-1Q23-vR.pdf">Artisan International Value Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTMX-APDMX-APHMX-QCommentary-1Q23-vR.pdf">Artisan Mid Cap Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/MKTX " target="_blank">MKTX </a><a href="https://roic.ai/company/ROK " target="_blank">ROK </a><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/BSY " target="_blank">BSY </a><a href="https://roic.ai/company/AJG " target="_blank">AJG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTSX-APDSX-APHSX-QCommentary-1Q23-vR.pdf">Artisan Small Cap Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/SAIA " target="_blank">SAIA </a><a href="https://roic.ai/company/FOUR " target="_blank">FOUR </a><a href="https://roic.ai/company/MKTX " target="_blank">MKTX </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/CDMO" target="_blank">CDMO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTLX-APDLX-APHLX-QCommentary-1Q23-vR.pdf">Artisan Value Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/PNC " target="_blank">PNC </a><a href="https://roic.ai/company/USB " target="_blank">USB </a><a href="https://roic.ai/company/BAX" target="_blank">BAX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2023.pdf">L1 Capital Long Short Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/PDYPY " target="_blank">PDYPY </a><a href="https://roic.ai/company/NCMGY " target="_blank">NCMGY </a><a href="https://roic.ai/company/CSCCF " target="_blank">CSCCF </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/BLSFY " target="_blank">BLSFY </a><a href="https://roic.ai/company/QBIEY " target="_blank">QBIEY </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/AAPL " target="_blank">DOW.AX </a></td></tr>
<tr><td><a href="https://files.brontecapital.com/amalthea/Amalthea_Letter_202303.pdf">Bronte Capital</a></td><td>4/24/2023</td><td><a href="https://roic.ai/company/UBS " target="_blank">UBS </a><a href="https://roic.ai/company/FCNCA " target="_blank">FCNCA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.pzena.com/the-current-opportunity-in-small-caps-globally/">Pzena Investment Management</a></td><td>4/24/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://hoisington.com/pdf/HIM2023Q1NP.pdf">Hoisington Investment Management</a></td><td>4/24/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td>4/24/2023</td><td><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/SPSC " target="_blank">SPSC </a><a href="https://roic.ai/company/VERX " target="_blank">VERX </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/MEG " target="_blank">MEG </a><a href="https://roic.ai/company/XMTR" target="_blank">XMTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-3.31.23.pdf">Baron Asset Fund</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/PWR " target="_blank">PWR </a><a href="https://roic.ai/company/RGEN" target="_blank">RGEN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-3.31.23.pdf">Baron Partners Fund</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary.pdf">Polen Capital - Focus Growth</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/AMZN" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/APFDX-APDDX-APHDX-QCommentary-1Q23-vR.pdf">Artisan Global Discovery Fund</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/WST " target="_blank">WST </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/NTOIY" target="_blank">NTOIY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://l1international.com/wp-content/uploads/2023/04/L1-Capital-International-31-March-2023-Quarterly.pdf">L1 International Capital Fund</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://alluvialcapital.com/wp-content/uploads/2023/04/Alluvial-Capital-Management-Q1-2023-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/HPS-A.TO " target="_blank">HPS-A.TO </a><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/EACO " target="_blank">EACO </a><a href="https://roic.ai/company/SKTP " target="_blank">SKTP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/644872509e61401b01f36b78/1682469456611/Q1+2023+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/SODI " target="_blank">SODI </a><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638181382150000000">Weitz Partners III Opportunity Fund</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638181382150000000">Weitz Partners Value Fund</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638181382150000000">Weitz Value Fund</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/644972d37a6f3804fa997915/1682535124107/GCAM+2023+Q1+letter.pdf">Giverny Capital Asset Management</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/ANET " target="_blank">ANET </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://docsend.com/view/xywtg28xbjt6vb36">Silver Beach Capital</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/ECNCF " target="_blank">ECNCF </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/ALLY " target="_blank">ALLY </a><a href="https://roic.ai/company/FCNCA " target="_blank">FCNCA </a><a href="https://roic.ai/company/GRBK" target="_blank">GRBK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q23_Investor_Letter.pdf">RiverPark Large Growth</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/LULU " target="_blank">LULU </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/SCHW " target="_blank">RNG </a></td></tr>
<tr><td><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q23_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/LULU " target="_blank">LULU </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.crescat.net/wp-content/uploads/Whistling-Past-the-Graveyard.pdf">Crestcat Capital</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2023-03.pdf?sfvrsn=be309f9d_4">FPA Crescent Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/HCMLF" target="_blank">HCMLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-qr-small-cap-value-fund-commentary-2023-03.pdf?sfvrsn=df339f9d_4">FPA Queens Road Small Cap Value Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/SFBS " target="_blank">SFBS </a><a href="https://roic.ai/company/AX" target="_blank">AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-value-fund/literature/fpa-qr-value-fund-commentary-2023-03.pdf?sfvrsn=2b319f9d_6">FPA Queens Road Value Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/fpa-us-core-fund-commentary-2023-03.pdf?sfvrsn=64309f9d_6">FPA U.S. Core Equity Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2023-q1.pdf">Alphyn Capital Management</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/WANSF " target="_blank">WANSF </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/PROSF " target="_blank">PROSF </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/ENOV " target="_blank">ENOV </a><a href="https://roic.ai/company/KMX" target="_blank">KMX </a><a href="https://roic.ai/company/KMX" target="_blank">BAM </a></td></tr>
<tr><td><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202303/Commentary-Small-Cap-Fund-2023-03-31.pdf?c=638183103050000000">Diamond Hill Small Cap Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/SAMG " target="_blank">SAMG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/644ad2944d60ad43588dc9c2/1682625172120/Q1+2023+Letter.pdf">Curreen Capital</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Emerging-Markets-Fund-Quarterly-Letter-3.31.23.pdf">Baron Emerging Markets Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/000858.SZ " target="_blank">000858.SZ </a><a href="https://roic.ai/company/PRNDY " target="_blank">PRNDY </a><a href="https://roic.ai/company/HINDUNILVR.NS " target="_blank">HINDUNILVR.NS </a><a href="https://roic.ai/company/TCS.NS " target="_blank">TCS.NS </a><a href="https://roic.ai/company/0L2T.L " target="_blank">0L2T.L </a><a href="https://roic.ai/company/051910.KS" target="_blank">051910.KS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-3.31.23_0.pdf">Baron Opportunity Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/MRVL " target="_blank">MRVL </a><a href="https://roic.ai/company/DXCM " target="_blank">DXCM </a><a href="https://roic.ai/company/GTLB" target="_blank">GTLB</a><a href="https://roic.ai/company/TSLA" target="_blank">TSLA</a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/INDI " target="_blank">INDI </a><a href="https://roic.ai/company/INDI " target="_blank"></a></td></tr>
<tr><td><a href="https://southeasternasset.com/commentary/1q23-partners-fund-commentary/">Longleaf Partners Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/FDX " target="_blank">FDX </a><a href="https://roic.ai/company/PVH " target="_blank">PVH </a><a href="https://roic.ai/company/LUMN" target="_blank">LUMN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southeasternasset.com/commentary/1q23-global-fund-commentary/">Longleaf Partners Global Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/FDX " target="_blank">FDX </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/LUMN" target="_blank">LUMN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southeasternasset.com/commentary/1q23-international-fund-commentary/">Longleaf Partners International Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/ACCYY " target="_blank">ACCYY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southeasternasset.com/commentary/1q23-small-cap-fund-commentary/">Longleaf Partners Small-Cap Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/OSCR " target="_blank">OSCR </a><a href="https://roic.ai/company/H " target="_blank">H </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/qtd-large-cap-1q2023-vs-r1000/">The London Company - Large Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/CVX " target="_blank">CVX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/qtd-mid-cap-1q2023-vs-rmc/">The London Company - Mid Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/SWKS " target="_blank">SWKS </a><a href="https://roic.ai/company/CPRT " target="_blank">CPRT </a><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/MTB " target="_blank">MTB </a><a href="https://roic.ai/company/UNF " target="_blank">UNF </a><a href="https://roic.ai/company/HAS " target="_blank">HAS </a><a href="https://roic.ai/company/CBRE" target="_blank">CBRE</a><a href="https://roic.ai/company/CBRE" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/qtd-small-cap-1q2023-vs-r2000/">The London Company - Small Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/VNT " target="_blank">VNT </a><a href="https://roic.ai/company/AQUA " target="_blank">AQUA </a><a href="https://roic.ai/company/TPX " target="_blank">TPX </a><a href="https://roic.ai/company/LVN " target="_blank">LVN </a><a href="https://roic.ai/company/MUSA " target="_blank">MUSA </a><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/ENOV" target="_blank">ENOV</a><a href="https://roic.ai/company/ENOV" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/qtd-smid-cap-1q2023-vs-r2500/">The London Company - Small-Mid Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/CHDN " target="_blank">CHDN </a><a href="https://roic.ai/company/LW " target="_blank">LW </a><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/MBI " target="_blank">MBI </a><a href="https://roic.ai/company/JKHY " target="_blank">JKHY </a><a href="https://roic.ai/company/STOR " target="_blank">STOR </a><a href="https://roic.ai/company/MUSA " target="_blank">MUSA </a><a href="https://roic.ai/company/MUSA " target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2023/04/First-Quarter-2023-SouthernSun-Small-Cap-Strategy-Composite-Commentary-3.pdf">SouternSun Small Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/BCO " target="_blank">BCO </a><a href="https://roic.ai/company/TKR " target="_blank">TKR </a><a href="https://roic.ai/company/LOB " target="_blank">LOB </a><a href="https://roic.ai/company/DAR " target="_blank">DAR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2023/04/First-Quarter-2023-SouthernSun-SMID-Cap-Composite-Commentary-4.pdf">SouternSun SMID Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/WSO " target="_blank">WSO </a><a href="https://roic.ai/company/BCO " target="_blank">BCO </a><a href="https://roic.ai/company/DAR " target="_blank">DAR </a><a href="https://roic.ai/company/WRK " target="_blank">WRK </a><a href="https://roic.ai/company/LPX " target="_blank">LPX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/644a9f41a585964a74bc2eb2/1682612033653/Q1+2023+NZS+Letter.pdf">NZS Capital</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://andvariassociates.com/q1-2023-letter-tyler-technologies-is-ready-to-run">Andvari Associates</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/TYL" target="_blank">TYL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td>5/02/2023</td><td><a href="https://roic.ai/company/HSKA " target="_blank">HSKA </a><a href="https://roic.ai/company/GWRE " target="_blank">GWRE </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/XMTR " target="_blank">XMTR </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td>5/02/2023</td><td><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/MSFT " target="_blank">MSFT </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/LLY " target="_blank">LLY </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/ACHC" target="_blank">ACHC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td>5/09/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td>5/09/2023</td><td><a href="https://roic.ai/company/JLL " target="_blank">JLL </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/SVS.L " target="_blank">SVS.L </a><a href="https://roic.ai/company/INGEF " target="_blank">INGEF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td>5/09/2023</td><td><a href="https://roic.ai/company/WEDXF " target="_blank">WEDXF </a><a href="https://roic.ai/company/FRPH " target="_blank">FRPH </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/BATRA " target="_blank">BATRA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td>5/09/2023</td><td><a href="https://roic.ai/company/CMA " target="_blank">CMA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.greystonevalue.com/_files/ugd/47fd79_4bc7a737390344ceb68d07367503b878.pdf">Greystone Capital Management</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/GFF " target="_blank">GFF </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/POL " target="_blank">POL </a><a href="https://roic.ai/company/SYZLF " target="_blank">SYZLF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q23.pdf">Horos Funds</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/MG " target="_blank">MG </a><a href="https://roic.ai/company/PSHZF " target="_blank">PSHZF </a><a href="https://roic.ai/company/EAT.WA " target="_blank">EAT.WA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_ec282b58db5c405ca4f87cea282120f5.pdf">Arch Capital Fund</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mcjcapitalpartners.com/q1-2023-update">MCJ Capital Partners</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://headwaterscapmgmt.com/wp-content/uploads/2023/04/HCM-Q1-23-Investor-Letter.pdf">Headwaters Capital</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/EYE" target="_blank">EYE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/645bce3568de4156b7afd2d8/1683738165531/Laughing+Water+Capital+Q1%2723+LFCR-final.pdf">Laughing Water Capital</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.deepsailcapital.com/_files/ugd/50dba3_d22e0841d600457f969ecafd70a016bf.pdf">Deep Sail Capital</a></td><td>5/11/2023</td><td><a href="https://roic.ai/company/MELI " target="_blank">MELI </a><a href="https://roic.ai/company/LEAT " target="_blank">LEAT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/645415b13f8e364f90a6052e/1683232177772/Nordstern+Capital+1Q2023+partnership+memo.pdf">Nordstern Capital</a></td><td>5/11/2023</td><td><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/ASTL " target="_blank">ASTL </a><a href="https://roic.ai/company/ERJ " target="_blank">ERJ </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=4Q2022">Ave Maria Funds</a></td><td>5/11/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Growth-Fund-Quarterly-Letter-3.31.23.pdf">Baron Fifth Avenue Growth Fund</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/NET " target="_blank">NET </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20230331.pdf">Rondure Global</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://donvillekent.com/wp-content/uploads/2023/05/DKAM-ROE-Reporter-April-2023-Final.pdf">Donville Kent Asset Management</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/RTMNF " target="_blank">RTMNF </a><a href="https://roic.ai/company/TCX " target="_blank">TCX </a><a href="https://roic.ai/company/KUT.V " target="_blank">KUT.V </a><a href="https://roic.ai/company/GSY.TO " target="_blank">GSY.TO </a><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/NVEI " target="_blank">NVEI </a><a href="https://roic.ai/company/VHIBF" target="_blank">VHIBF</a><a href="https://roic.ai/company/VHIBF" target="_blank"></a></td></tr>
<tr><td><a href="https://vulcanvaluepartners.com/core/uploads/2023/04/VVP-Quarterly-Letter-23.03.31-FINAL.pdf">Vulcan Value Partners</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/645c493b618e556818733cdc/1683769659460/Maran+Partners+Fund+LP+2023+1Q+Letter.pdf">Maran Capital Management</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/DK " target="_blank">DK </a><a href="https://roic.ai/company/RNGR " target="_blank">RNGR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/c3f2e1e3-49d6-4a6c-d067-53670e27055d/SilverRingValuePartners_2023Q1_Letter_b.pdf">Silver Ring Value Partners</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/OI " target="_blank">OI </a><a href="https://roic.ai/company/GTXAP " target="_blank">GTXAP </a><a href="https://roic.ai/company/AIM.TO " target="_blank">AIM.TO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/644ffc9a857b8e4c6fe18b5d/1682963610567/2023.Q1+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/LAC " target="_blank">LAC </a><a href="https://roic.ai/company/EQX " target="_blank">EQX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_1Q_2023.pdf">Saltlight Capital </a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/644bf0f3f5855f2f397e989b/1682698483965/Kinsman+Oak+-+Q1+2023+Letter+vCommentary.pdf">Kinsman Oak Equity Fund</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/6463e51fc22ddc3d0b6189c9/1684268319477/2023+Q1_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/PLYA " target="_blank">PLYA </a><a href="https://roic.ai/company/ASO " target="_blank">ASO </a><a href="https://roic.ai/company/ECNCF " target="_blank">ECNCF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.appleseedfund.com/wp-content/uploads/2023/04/2023-Semi-Annual-Letter.pdf">Appleseed Fund</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/MDT " target="_blank">MDT </a><a href="https://roic.ai/company/SWK " target="_blank">SWK </a><a href="https://roic.ai/company/SNV " target="_blank">SNV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202023%20FINAL.pdf">Tweedy Browne</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/6452638f2eb3d251647476f1/1683121039715/1Q23+letter+final.pdf">Long Cast Advisers </a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/PESI " target="_blank">PESI </a><a href="https://roic.ai/company/MTRX " target="_blank">MTRX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://dmzpartners.in/Documents/Files/DMZ-2857-DMZ-Partners-Year-End-Letter-FY-22-23-(Redacted-Version).pdf">DMZ Partners</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.palmharbourcapital.com/files/PHC_Letter_Q1_2023_FINAL_ENG.pdf">Palm Harbour Capital</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/TKAGY " target="_blank">TKAGY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://horizonkinetics.com/app/uploads/Q1-2023-Commentary_FINAL.pdf">Horizon Kinetics</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/PREKF " target="_blank">PREKF </a><a href="https://roic.ai/company/TRC " target="_blank">TRC </a><a href="https://roic.ai/company/LAND " target="_blank">LAND </a><a href="https://roic.ai/company/AND.TO " target="_blank">AND.TO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fairlightcapital.com/_files/ugd/a6cb30_b629d9c2917d4de989b7a667b7956d17.pdf">Fairlight Alpha Fund LP</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/OPRA " target="_blank">OPRA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcvalueblog.files.wordpress.com/2023/05/mcintyre-partnerships-q1-2023-letter-publishing.pdf?force_download=true">McIntyre Partnerships</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/STHO " target="_blank">STHO </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/SPHR" target="_blank">SPHR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/3fff1ea9d792aab7f6dffe0ab/files/95158614-509e-3a40-9096-269614fb88fe/Sohra_Peak_Capital_Partners_Partnership_Letter_Q1_2023.pdf">Sohra Peak Capital Partners</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/DUR.AX" target="_blank">DUR.AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/6452a6aec90b9820a50e74da/1683138222774/Greenhaven+Road+%282023+Q1%29+Quarterly+Letter_.pdf">Greenhaven Road Capital</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/BNED " target="_blank">BNED </a><a href="https://roic.ai/company/BNED " target="_blank"></a></td></tr>
<tr><td><a href="https://gatorcapital.com/wp-content/uploads/2023/05/20230425-GFP-2023-Q1-Letter-1.pdf">Gator Capital Management</a></td><td>5/23/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_1Q23_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td>5/23/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static.fmgsuite.com/media/documents/1ce2321f-d5c2-458e-93ba-9d546be8370e.pdf">Conestoga Capital Advisors, LLC</a></td><td>5/23/2023</td><td><a href="https://roic.ai/company/DGII " target="_blank">DGII </a><a href="https://roic.ai/company/EXPO " target="_blank">EXPO </a><a href="https://roic.ai/company/BSY " target="_blank">BSY </a><a href="https://roic.ai/company/PCOR" target="_blank">PCOR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.arielinvestments.com/wp-content/uploads/2022/12/ArielInvestmentTrustSemiAnnualReport033123.pdf">Ariel Trust Funds</a></td><td>5/23/2023</td><td><a href="https://roic.ai/company/BIDU " target="_blank">BIDU </a><a href="https://roic.ai/company/LESL " target="_blank">LESL </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/SRCL" target="_blank">SRCL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/64790b2cd3986c12d93cf4aa/1685654316748/Bonsai+Partners+Fund+Q1+2023+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td>6/02/2023</td><td><a href="https://roic.ai/company/HWDJY" target="_blank">HWDJY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2023/HL-EM-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner Emerging Markets Equity</a></td><td>6/02/2023</td><td><a href="https://roic.ai/company/KAKZF " target="_blank">KAKZF </a><a href="https://roic.ai/company/GLOB" target="_blank">GLOB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2023/HL-Global-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner Global Equity</a></td><td>6/02/2023</td><td><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/NOC" target="_blank">NOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-3.31.23.pdf">Baron FinTech Fund</a></td><td>6/02/2023</td><td><a href="https://roic.ai/company/IBKR " target="_blank">IBKR </a><a href="https://roic.ai/company/APO " target="_blank">APO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://d1io3yog0oux5.cloudfront.net/_7f0f3f83a18cc8c3dfb533da32512621/180degreecapital/db/373/2891/letter_to_shareholders/Q1+2023+Shareholder+Letter+-+Final.pdf">180 Degree Capital Corp.</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/PBPB " target="_blank">PBPB </a><a href="https://roic.ai/company/ALTG " target="_blank">ALTG </a><a href="https://roic.ai/company/SNCR " target="_blank">SNCR </a><a href="https://roic.ai/company/IVAC " target="_blank">IVAC </a><a href="https://roic.ai/company/AREN " target="_blank">AREN </a><a href="https://roic.ai/company/QBTS " target="_blank">QBTS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rgaia.com/wp-content/uploads/2023/05/RGAIA-Investment-Commentary-Q1-2023.pdf">RGA Investment Advisors</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets.thirdpointlimited.com/f/166217/x/a4928be28f/third-point-q1-2023-investor-letter-tpil.pdf">Third Point Offshore Fund</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/UBS " target="_blank">UBS </a><a href="https://roic.ai/company/GOOGL " target="_blank">GOOGL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://palmcapital.co.za/wp-content/uploads/2023/05/2023Q1-Commentary.pdf">Palm Capital</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/GOOGL" target="_blank">GOOGL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://wedgewoodpartners.com/wp-content/uploads/2023/05/Wedgewood-Partners-SMID-Letter-1Q2023.pdf">Wedgewood Partners Focus SMID Cap</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/JBHT " target="_blank">JBHT </a><a href="https://roic.ai/company/LSTR " target="_blank">LSTR </a><a href="https://roic.ai/company/SAIA " target="_blank">SAIA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-3.31.23.pdf">Baron Growth Fund</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/DNUT " target="_blank">DNUT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-3.31.23.pdf">Baron Small Cap Fund</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/CLVT" target="_blank">CLVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2023/HL-Global-Small-Cos-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner Global Small Companies</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/SNR.L " target="_blank">SNR.L </a><a href="https://roic.ai/company/PDX.ST " target="_blank">PDX.ST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2023/HL-Intl-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner International Equity</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/HLN" target="_blank">HLN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2023/HL-Intl-Small-Cos-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner International Small Companies Equity</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/SNR.L " target="_blank">SNR.L </a><a href="https://roic.ai/company/PDX.ST " target="_blank">PDX.ST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://evermoreglobal.com/assets/pdfs/Evermore_Commentary_Q1_2023.pdf">Evermore Global Value Fund</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/DHT " target="_blank">DHT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://4043042.fs1.hubspotusercontent-na1.net/hubfs/4043042/Content%20Offers/2023.Q1%20Commentary/2023.Q1%20Goehring%20and%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td>6/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Growth_Fund_Commentary.pdf">Mairs & Power Growth Fund</a></td><td>6/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Small_Cap_Fund_Commentary.pdf">Mairs & Power Small Cap Fund</a></td><td>6/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">4th Quarter 2022</span>
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<thead>
<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
</thead>
<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2023/01/STJIC-Adviser-Letter-2022-Q4.pdf">St. James Investment Company </a></td><td width="14%">1/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_73_en.pdf">Vltava Fund</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/ARW " target="_blank">ARW </a><a href="https://roic.ai/company/GOOG" target="_blank">GOOG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/63b601b8597b413059e65e27/1672872376450/Q42022.pdf">Comus Investments</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2023/01/QUARTERLY-REPORT-Dec-2022-WEB.pdf">East72 Holdings</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/MFG.AX" target="_blank">MFG.AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_fe019478d5bd467ba615a8f521fbfa18.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://concentratedcompounding.substack.com/p/2022-annual-letter">Concentrated Compounding*</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/TDG " target="_blank">TDG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/RADI " target="_blank">RADI </a><a href="https://roic.ai/company/CHTR" target="_blank">CHTR</a><a href="https://roic.ai/company/CHTR" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_888ee89906e54813afeebb4b26163507.pdf">Palm Valley Capital Fund</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/2022-q4-letter/">Moon Capital</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/DVA " target="_blank">DVA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-2022-year-end-letter">Rowan Street Capital</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://novelinvestor.com/2022-a-year-in-returns/">Novel Investor</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_c50ba975f9df4cab94d949c13bf05897.pdf">Merion Road Capital</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/CPRT " target="_blank">CPRT </a><a href="https://roic.ai/company/MWA " target="_blank">MWA </a><a href="https://roic.ai/company/WHG " target="_blank">WHG </a><a href="https://roic.ai/company/MHH " target="_blank">MHH </a><a href="https://roic.ai/company/UBAB" target="_blank">UBAB</a><a href="https://roic.ai/company/UBAB" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fairlightcapital.com/_files/ugd/a6cb30_4b516623824544d2b3f9a075da1358e5.pdf">Fairlight Alpha Fund LP</a></td><td width="14%">1/17/2023</td><td width="39%"><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/OPRA" target="_blank">OPRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_b5e09c9e75554a4ebe50235180d1f940.pdf">Old West Capital Management</a></td><td width="14%">1/17/2023</td><td width="39%"><a href="https://roic.ai/company/AEM " target="_blank">AEM </a><a href="https://roic.ai/company/GOLD " target="_blank">GOLD </a><a href="https://roic.ai/company/NG " target="_blank">NG </a><a href="https://roic.ai/company/SA " target="_blank">SA </a><a href="https://roic.ai/company/WDO.TO " target="_blank">WDO.TO </a><a href="https://roic.ai/company/MAI.V" target="_blank">MAI.V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1q-T-iXlixliNHaMe3HyJNnzCCzd3_yzy/view">Greenlight Capital</a></td><td width="14%">1/17/2023</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/DNMR " target="_blank">DNMR </a><a href="https://roic.ai/company/CEIX " target="_blank">CEIX </a><a href="https://roic.ai/company/TECK " target="_blank">TECK </a><a href="https://roic.ai/company/THC" target="_blank">THC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20221231.pdf">FMI All Cap Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20221231.pdf">FMI International Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20221231.pdf">FMI Large Cap Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20221231.pdf">FMI Small Cap Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2023/01/Akre-Focus-Fund-Quarterly-Commentary-2022-Q4.pdf#page=1">Akre Focus Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/CVX" target="_blank">CVX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/CLVT" target="_blank">CLVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/SMG " target="_blank">SMG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2023/01/L1-Capital-International-December-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/CABO " target="_blank">CABO </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/RNR" target="_blank">RNR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/AJRD " target="_blank">AJRD </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/PRMW" target="_blank">PRMW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/POWL " target="_blank">POWL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3177">Miller/Howard Investments</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2023/01/Q4-2022-Letter.pdf">Distillate Capital</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/fourth-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/MASI " target="_blank">MASI </a><a href="https://roic.ai/company/PAYX" target="_blank">PAYX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1Hx6Xr-tM9Mx3JIMPUxYayyELiAXyniTs/view">Tidefall Capital Management</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/FFXDF" target="_blank">FFXDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lvsadvisory.com/wp-content/uploads/2023/01/LVS-Advisory-Letter-Q4-2022.pdf">LVS Advisory</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/BLK " target="_blank">BLK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://marvistainvestments.com/wp-content/uploads/2023/01/MVSGF-Annual-f.pdf">Mar Vista Strategic Growth Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2023/01/4Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/8833525b-02a0-40e1-9695-9a9cd1a399f9.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q4NP.pdf">Hoisington Investment Management</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2023_01_13.pdf">Myrmikan Research</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/4q2022-commentary">Whitebrook Capital Partners </a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/GBX " target="_blank">GBX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/xiexie/">Miller Income Strategy</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/BKE " target="_blank">BKE </a><a href="https://roic.ai/company/HEI.DE " target="_blank">HEI.DE </a><a href="https://roic.ai/company/VTRS " target="_blank">VTRS </a><a href="https://roic.ai/company/RILY" target="_blank">RILY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/opportunity-equity-4q2022-commentary/">Miller Opportunity Equity</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2023/01/CSCAX_2022-12-31_Shareholder_Letter.final_.pdf">Cove Street Capital</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/IEHC " target="_blank">IEHC </a><a href="https://roic.ai/company/LTRPA " target="_blank">LTRPA </a><a href="https://roic.ai/company/HRG " target="_blank">HRG </a><a href="https://roic.ai/company/CLMB " target="_blank">CLMB </a><a href="https://roic.ai/company/VMD " target="_blank">VMD </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/IAC " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/63c824e82a86e2382f1aa168/1674061033668/Upslope+-+2022Q4+Letter.pdf">Upslope Capital Management</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/ATS.TO " target="_blank">ATS.TO </a><a href="https://roic.ai/company/BOKF " target="_blank">BOKF </a><a href="https://roic.ai/company/GLT " target="_blank">GLT </a><a href="https://roic.ai/company/EMG.L" target="_blank">EMG.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1doYYSAqWjmIRwcA4eDFOLstWR-MRohbM/view">Tourlite Capital Management</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/PRM " target="_blank">PRM </a><a href="https://roic.ai/company/VRRM" target="_blank">VRRM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/63ccf8a1a226f819f483af77/1674377377319/2022+Q4.pdf">Blue Tower Asset Management</a></td><td width="14%">1/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/HLN " target="_blank">HLN </a><a href="https://roic.ai/company/TKELY" target="_blank">TKELY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/63d1d8d183cf42640381af79/1674696913242/GCAM+2022+Q4+Letter.pdf">Giverny Capital Asset Management</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/PGR " target="_blank">PGR </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/COHR " target="_blank">COHR </a><a href="https://roic.ai/company/ERFSF " target="_blank">ERFSF </a><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/ANET " target="_blank">ANET </a><a href="https://roic.ai/company/ANET " target="_blank">GOOG </a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2022.pdf">L1 Capital Long Short Fund</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-12.31.22.pdf">Baron Health Care Fund</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/CI " target="_blank">CI </a><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/OPCH " target="_blank">OPCH </a><a href="https://roic.ai/company/MRNA " target="_blank">MRNA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/63d197a2ce28fd77bcc26e1c/1674680226625/Nordstern+Capital+4Q2022+partnership+memo.pdf">Nordstern Capital</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-12.31.22.pdf">Baron Real Estate Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/TOL " target="_blank">TOL </a><a href="https://roic.ai/company/LEN " target="_blank">LEN </a><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/SHW " target="_blank">SHW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=638101946440000000">Weitz Hickory Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638101946440000000">Weitz Partners III Opportunity Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638101946440000000">Weitz Partners Value Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638101946440000000">Weitz Value Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202212/Commentary-Small-Cap-Fund-2022-12-31.pdf?c=638102647540000000">Diamond Hill Small Cap Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/GHC " target="_blank">GHC </a><a href="https://roic.ai/company/FTAI " target="_blank">FTAI </a><a href="https://roic.ai/company/GTES " target="_blank">GTES </a><a href="https://roic.ai/company/ODC" target="_blank">ODC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q4.pdf">Alphyn Capital Management</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/WANSF " target="_blank">WANSF </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/ALVO " target="_blank">ALVO </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/BAM " target="_blank">W</a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/63cae1d5aa9fb46a85ae910e/1674240470057/2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/MGAG " target="_blank">MGAG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/63cfc4a0af00443cc82de164/1674560672628/Q4%2722+letter.pdf">1 Main Capital Partners</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/deep-value-4q-2022-letter/">Miller Deep Value</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/TUP " target="_blank">TUP </a><a href="https://roic.ai/company/MHO " target="_blank">MHO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitefalconcap.com/_files/ugd/2e6ec1_7e624046f21548888a3ecaf044b00e69.pdf">White Falcon Capital Management</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/AMD" target="_blank">AMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2022/">Oakmark Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/MGA " target="_blank">MGA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2022/">Oakmark Global Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/STJ.L" target="_blank">STJ.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2022/">Oakmark Global Select Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/COF" target="_blank">COF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-fourth-quarter-2022/">Oakmark International Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/AKZOY " target="_blank">AKZOY </a><a href="https://roic.ai/company/SDVKY " target="_blank">SDVKY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-fourth-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/KNCRY " target="_blank">KNCRY </a><a href="https://roic.ai/company/TOWR.JK " target="_blank">TOWR.JK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2022/">Oakmark Select Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/ORCL " target="_blank">ORCL </a><a href="https://roic.ai/company/ICE" target="_blank">ICE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_e6373377fc8c4196920f4efbcca7a7b7.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/GIL " target="_blank">GIL </a><a href="https://roic.ai/company/SHOO" target="_blank">SHOO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/2022%20Q4%20Letter%20-%20Approved.pdf">Praetorian Capital </a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcvalueblog.files.wordpress.com/2023/01/mcintyre-partnerships-q4-2022-letter-publishing.pdf?force_download=true">McIntyre Partnerships</a></td><td width="14%">1/31/2023</td><td width="39%"><a href="https://roic.ai/company/SHC " target="_blank">SHC </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/wp-content/uploads/2023/01/Andvari-2022q4-letter.pdf">Andvari Associates</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/CPRT " target="_blank">CPRT </a><a href="https://roic.ai/company/CSGP " target="_blank">CSGP </a><a href="https://roic.ai/company/DBRG " target="_blank">DBRG </a><a href="https://roic.ai/company/MLAB " target="_blank">MLAB </a><a href="https://roic.ai/company/SPGI " target="_blank">SPGI </a><a href="https://roic.ai/company/SPGI " target="_blank">TYL</a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/63d33583c261f420b34ac709/1674786182483/4Q22+letter+final.pdf">Long Cast Advisers </a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/ENVX " target="_blank">ENVX </a><a href="https://roic.ai/company/RSSS" target="_blank">RSSS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/63da6e12308d0f3b2f039126/1675259411073/Q4+2022+Letter.pdf">Curreen Capital</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/ASAI.ST " target="_blank">ASAI.ST </a><a href="https://roic.ai/company/WIX.L" target="_blank">WIX.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ip-capitalpartners.com/reports/jan2023/#idc-9">IP-Capital Partners</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/63d47310894c822d74c8efc8/1674867472947/Q4+2022+NZS+Letter.pdf">NZS Capital</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/TDG " target="_blank">TDG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/DDOG" target="_blank">DDOG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vgipartners.com/wp-content/uploads/2023/01/VG1-2023-01-31_Investor-Letter-Year-to-December-2022-1.pdf">VGI Partners Global Investments</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/CME " target="_blank">CME </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DBOEY " target="_blank">DBOEY </a><a href="https://roic.ai/company/CFRUY " target="_blank">CFRUY </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/DIS " target="_blank">DIS </a><a href="https://roic.ai/company/RNMBY " target="_blank">RNMBY </a><a href="https://roic.ai/company/RNMBY " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://gatorcapital.com/wp-content/uploads/2023/01/20230124-GFP-2022-Year-End-Letter.pdf">Gator Capital Management</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/CG " target="_blank">CG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.legacyridgecapital.com/wp-content/uploads/2023/01/LRCM-2022-Letter.pdf">Legacy Ridge Capital Management</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/EPD " target="_blank">EPD </a><a href="https://roic.ai/company/NRG " target="_blank">NRG </a><a href="https://roic.ai/company/VST " target="_blank">VST </a><a href="https://roic.ai/company/DCP " target="_blank">DCP </a><a href="https://roic.ai/company/SMLP " target="_blank">SMLP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/63d9cd83dd3e94195b8bcabb/1675218307153/Maran+Partners+Fund+LP+2022+4Q+Letter.pdf">Maran Capital Management</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/CLAR " target="_blank">CLAR </a><a href="https://roic.ai/company/CTT.LS " target="_blank">CTT.LS </a><a href="https://roic.ai/company/VTY.L " target="_blank">VTY.L </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/63db08bc72bc814cc05fb5e4/1675299004295/2022+Investor+Letter.pdf">Worm Capital</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-12.31.22.pdf">Baron Asset Fund</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/ICLR" target="_blank">ICLR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=4Q2022">Ave Maria Funds</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/NJDCY " target="_blank">NJDCY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2023/02/VVP-Annual-Letter-22.12.31.pdf">Vulcan Value Partners</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary.pdf">Polen Capital - Focus Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary.pdf">Polen Capital - Global Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/NOW " target="_blank">NOW </a><a href="https://roic.ai/company/EL " target="_blank">EL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary.pdf">Polen Capital - Global SMID Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary.pdf">Polen Capital - International Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/HDB " target="_blank">HDB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary.pdf">Polen Capital - International Small Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/TOI.V " target="_blank">TOI.V </a><a href="https://roic.ai/company/ERF.PA" target="_blank">ERF.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary.pdf">Polen Capital - U.S. SMID Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/OLPX" target="_blank">OLPX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/OLPX " target="_blank">OLPX </a><a href="https://roic.ai/company/RH" target="_blank">RH</a><a href="https://roic.ai/company/CCCS " target="_blank">CCCS </a><a href="https://roic.ai/company/FSV" target="_blank">FSV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2023/01/Alluvial-Capital-Management-Q4-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/APR.WA " target="_blank">APR.WA </a><a href="https://roic.ai/company/JOB " target="_blank">JOB </a><a href="https://roic.ai/company/RVIC " target="_blank">RVIC </a><a href="https://roic.ai/company/FTLF " target="_blank">FTLF </a><a href="https://roic.ai/company/SXP.TO" target="_blank">SXP.TO</a><a href="https://roic.ai/company/SXP.TO" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/3fff1ea9d792aab7f6dffe0ab/files/b8d66142-70b7-62da-891b-ffa88af747a3/Sohra_Peak_Capital_Partners_Letter_to_Partners_Q4_2022.01.pdf">Sohra Peak Capital Partners</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-partners-fund-commentary/">Longleaf Partners Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/CNX " target="_blank">CNX </a><a href="https://roic.ai/company/AMG " target="_blank">AMG </a><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/WBD " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-global-fund-commentary/">Longleaf Partners Global Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-international-commentary/">Longleaf Partners International Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-small-cap-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/WEST " target="_blank">WEST </a><a href="https://roic.ai/company/MSGS " target="_blank">MSGS </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/commentary/q4-2022-investment-commentary-trends-to-consider-and-lessons-learned/">RGA Investment Advisors</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_c7c08886d89d4cf89bb65db91e98e16e.pdf">Arch Capital Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q4.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2023/02/DKAM-ROE-Reporter-January-2023-Final.pdf">Donville Kent Asset Management</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/RET.V" target="_blank">RET.V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/DDOG " target="_blank">DDOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/PODD " target="_blank">PODD </a><a href="https://roic.ai/company/XPO " target="_blank">XPO </a><a href="https://roic.ai/company/COUP " target="_blank">COUP </a><a href="https://roic.ai/company/CRWD " target="_blank">CRWD </a><a href="https://roic.ai/company/RXO " target="_blank">RXO </a><a href="https://roic.ai/company/GNRC " target="_blank">GNRC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_4Q_2022.pdf">Saltlight Capital </a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/RBLX " target="_blank">RBLX </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/TCEHY " target="_blank">TCEHY </a><a href="https://roic.ai/company/BAT.JO" target="_blank">BAT.JO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_79fa4050d7784ca2b9e622c574c9abb1.pdf">Greystone Capital Management</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/GFF " target="_blank">GFF </a><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/IDT " target="_blank">IDT </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/POL " target="_blank">POL </a><a href="https://roic.ai/company/POL " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lyricalam.com/wp-content/uploads/dlm_uploads/2023/01/LAM-2022-U.S.-Review-letter.pdf">Lyrical Asset Management</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q22.pdf">Horos Funds</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/BIDU " target="_blank">BIDU </a><a href="https://roic.ai/company/ALD.PA " target="_blank">ALD.PA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2023/01/PzenaNewsletter-Commentary-4Q22-1.pdf">Pzena Investment Management</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2022-q4.pdf?sfvrsn=a3f8909d_6">FPA Crescent Fund</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2022-q4.pdf?sfvrsn=8cfc909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/SJI " target="_blank">SJI </a><a href="https://roic.ai/company/RLI " target="_blank">RLI </a><a href="https://roic.ai/company/FN " target="_blank">FN </a><a href="https://roic.ai/company/AEL " target="_blank">AEL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-q4.pdf?sfvrsn=95029f9d_6">FPA U.S. Core Equity Fund</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DECK" target="_blank">DECK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20221231.pdf">Rondure Global</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2023/01/2022-Q4-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/CROX" target="_blank">CROX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/74a703a9-1e11-2b30-db6e-c2815a46b811/SilverRingValuePartners_2022Q4_Letter.pdf">Silver Ring Value Partners</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/FRII.TO " target="_blank">FRII.TO </a><a href="https://roic.ai/company/WINE.L " target="_blank">WINE.L </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2023/02/bumbershoot-holdings-e28094-2023-2-feb-e28094-letter-to-partners-e28094-2022.pdf">Bumbershoot Holdings</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/CHX " target="_blank">CHX </a><a href="https://roic.ai/company/INSP " target="_blank">INSP </a><a href="https://roic.ai/company/RXDX " target="_blank">RXDX </a><a href="https://roic.ai/company/XMTR " target="_blank">XMTR </a><a href="https://roic.ai/company/CYRX " target="_blank">CYRX </a><a href="https://roic.ai/company/SWAV" target="_blank">SWAV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/35d8bd09-7f9e-ae4b-c8ff-b0565d5b55c7/Fourth_Quarter_2022_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-12.31.22.pdf">Baron Opportunity Fund</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTTX-APDTX-APHTX-QCommentary-4Q22-vR.pdf">Artisan Focus Fund</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/63dffd210f60c8044b4ceeb4/1675623722432/Greenhaven+Road+-+2022+Q4+-+Final-.pdf">Greenhaven Road Capital</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/PAT.DE " target="_blank">PAT.DE </a><a href="https://roic.ai/company/CLAR" target="_blank">CLAR</a><a href="https://roic.ai/company/CLAR" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://a.storyblok.com/f/166217/x/c179ba3ef3/third-point-q4-2022-investor-letter-tpil.pdf">Third Point Offshore Fund</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/BBWI " target="_blank">BBWI </a><a href="https://roic.ai/company/CL " target="_blank">CL </a><a href="https://roic.ai/company/DD " target="_blank">DD </a><a href="https://roic.ai/company/PCG " target="_blank">PCG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/rubbing-my-nose-in-it">Mindset Value Fund</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/GLASF " target="_blank">GLASF </a><a href="https://roic.ai/company/ARA.MX" target="_blank">ARA.MX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/63cea6c741bdeb3f8c8d81c7/1674487496244/Laughing+Water+Capital+YE+2022.pdf">Laughing Water Capital</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/HGV " target="_blank">HGV </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/VTY.L " target="_blank">VTY.L </a><a href="https://roic.ai/company/LFCR" target="_blank">LFCR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/mispriced-inflation/">Crestcat Capital</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://docsend.com/view/mwmq48da78tdgkh6">Bonsai Partners</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2023/02/Epoch-Quarterly-Newsletter_February-2023.pdf">Epoch Investment Partners</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/APFDX-APDDX-APHDX-QCommentary-4Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/MPWR " target="_blank">MPWR </a><a href="https://roic.ai/company/2734.T" target="_blank">2734.T</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_67f9cc1047fc4d0b905d6ef6eb4b1c67.pdf">Emeth Value Capital</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/DESP" target="_blank">DESP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://srk-capital.com/content_files/2023/02/SRK_Fund_H2_2022_Letter.pdf">SRK Capital</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/HROW " target="_blank">HROW </a><a href="https://roic.ai/company/PYCFF " target="_blank">PYCFF </a><a href="https://roic.ai/company/HGBL " target="_blank">HGBL </a><a href="https://roic.ai/company/JOB " target="_blank">JOB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-12.31.22.pdf">Baron FinTech Fund</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2022-partner-letter-EdnTy8Rv">Artko Capital</a></td><td width="14%">2/17/2023</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/GAIA " target="_blank">GAIA </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/NTIC " target="_blank">PBPB </a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dea95dc8fdee044b6f12fb9/t/63dbf46300dbad51d9ee0c3e/1675359332413/Q4+and+2022+EOY+Update.pdf">MCJ Capital Partners</a></td><td width="14%">2/17/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/_files/ugd/3b0d6d_433685d4d14c4bad8e54f40609582792.pdf">Saga Partners</a></td><td width="14%">2/17/2023</td><td width="39%"><a href="https://roic.ai/company/RDFN " target="_blank">RDFN </a><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/4Q22%20-%20FV.html">Bireme Capital</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/BOIVF " target="_blank">BOIVF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-12.31.22.pdf">Baron Growth Fund</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/MSCI" target="_blank">MSCI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-12.31.22.pdf">Baron Partners Fund</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2023/02/HCM-Q4-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/ICFI" target="_blank">ICFI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/MEG " target="_blank">MEG </a><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/GKOS " target="_blank">GKOS </a><a href="https://roic.ai/company/XMTR" target="_blank">XMTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202022%20FINAL.pdf">Tweedy Browne</a></td><td width="14%">2/22/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-12.31.22.pdf">Baron Discovery Fund</a></td><td width="14%">2/23/2023</td><td width="39%"><a href="https://roic.ai/company/CDNA " target="_blank">CDNA </a><a href="https://roic.ai/company/DH " target="_blank">DH </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/QLYS " target="_blank">QLYS </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/CYBR " target="_blank">CYBR </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/PAR " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Growth-Fund-Quarterly-Letter-12.31.22.pdf">Baron Fifth Avenue Growth Fund</a></td><td width="14%">2/23/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-12.31.22_0.pdf">Baron Small Cap Fund</a></td><td width="14%">2/23/2023</td><td width="39%"><a href="https://roic.ai/company/NEOG " target="_blank">NEOG </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static.fmgsuite.com/media/documents/628dd5de-7bed-46cd-92d8-029b09a1fb15.pdf">Semper Augustus</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTMX-APDMX-APHMX-QCommentary-4Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/BSY " target="_blank">BSY </a><a href="https://roic.ai/company/HALO " target="_blank">HALO </a><a href="https://roic.ai/company/SAIA" target="_blank">SAIA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTSX-APDSX-APHSX-QCommentary-4Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/CTLT " target="_blank">CTLT </a><a href="https://roic.ai/company/SIVB " target="_blank">SIVB </a><a href="https://roic.ai/company/MKTX" target="_blank">MKTX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTKX-APDKX-APHKX-QCommentary-4Q22-vR.pdf">Artisan International Value Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTLX-APDLX-APHLX-QCommentary-4Q22-vR.pdf">Artisan Value Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/63dd05f6c16eff311b05b8d7/1675429367339/2022.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/SMEGF " target="_blank">SMEGF </a><a href="https://roic.ai/company/ADMLF " target="_blank">ADMLF </a><a href="https://roic.ai/company/CTTZF " target="_blank">CTTZF </a><a href="https://roic.ai/company/IXRRF " target="_blank">IXRRF </a><a href="https://roic.ai/company/LAC" target="_blank">LAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://img1.wsimg.com/blobby/go/ee65fbd7-2d89-48b3-83e6-be9864c38c3b/downloads/Nitor%20Capital%20Management%202023%20Annual%20Letter.pdf?ver=1676653916023">Nitor Capital</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.righttailcapital.com/_files/ugd/9593df_65907af5b9c94afbb864699330b2b145.pdf">Right Tail Capital</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/ROST " target="_blank">ROST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/wp-content/uploads/2023/02/ArielInvestmentTrustQuarterlyReport123122.pdf">Ariel Trust Funds</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/BOKF " target="_blank">BOKF </a><a href="https://roic.ai/company/CG " target="_blank">CG </a><a href="https://roic.ai/company/ZBRA" target="_blank">ZBRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/1e163043-f15e-1f02-9f6a-e8cece7f76e4/December_2022_Investor_Letter_End_of_free_moneyvfin.pdf">Richie Capital Group</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/FICO " target="_blank">FICO </a><a href="https://roic.ai/company/PERI " target="_blank">PERI </a><a href="https://roic.ai/company/RELL" target="_blank">RELL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.brontecapital.com/amalthea/Amalthea_Letter_202212.pdf">Bronte Capital</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/HLF " target="_blank">HLF </a><a href="https://roic.ai/company/GMHLF " target="_blank">GMHLF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2022-Q4-Aikya-Letter-Public-Bank.pdf">Aikya Funds</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/PBLOF " target="_blank">PBLOF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_4Q22_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mawer.com/assets/Uploads/4Q22-Quarterly.pdf">Mawer Mutual Funds</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/RKT " target="_blank">RKT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/PNGAY " target="_blank">PNGAY </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/OC" target="_blank">OC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/PNGAY " target="_blank">PNGAY </a><a href="https://roic.ai/company/CPNG " target="_blank">CPNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/COF " target="_blank">COF </a><a href="https://roic.ai/company/WFC " target="_blank">WFC </a><a href="https://roic.ai/company/BRK.B " target="_blank">BRK.B </a><a href="https://roic.ai/company/AMAT " target="_blank">AMAT </a><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/COF " target="_blank">COF </a><a href="https://roic.ai/company/WFC " target="_blank">WFC </a><a href="https://roic.ai/company/BRK.B " target="_blank">BRK.B </a><a href="https://roic.ai/company/AMAT " target="_blank">AMAT </a><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="Templeton+&+Phillips+-+2022+Letter+-+Public.pdf (squarespace.com)">Templeton & Phillips Capital Management</a></td><td width="14%">2/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rvcapital.ch/post/2022-letter-to-co-investors-in-business-owner?utm_campaign=ca72bd39-5c54-4309-82dd-c8ff9d204193&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="14%">2/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.deepsailcapital.com/_files/ugd/50dba3_1fee3e85d4804f44b1b7f4e0b0453d73.pdf">Deep Sail Capital</a></td><td width="14%">3/01/2023</td><td width="39%"><a href="https://roic.ai/company/LEAT " target="_blank">LEAT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/57eff176e58c621a298bfa61/t/63c31bd9cf3aa73258174080/1673731033092/Plural+Partners+Fund+Letter+-+2022%3AQ4.pdf">Plural Investing</a></td><td width="14%">3/02/2023</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/DRTGF " target="_blank">DRTGF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/63f66bc227a3227f4d574179/1677093827154/Kinsman+Oak+-+FY+2022+Letter+vCommentary.pdf">Kinsman Oak Equity Fund</a></td><td width="14%">3/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://evermoreglobal.com/media/pdfs/evermore_annual_report.pdf">Evermore Global Value Fund</a></td><td width="14%">3/03/2023</td><td width="39%"><a href="https://roic.ai/company/INW.MI " target="_blank">INW.MI </a><a href="https://roic.ai/company/HOEGF " target="_blank">HOEGF </a><a href="https://roic.ai/company/CLMT " target="_blank">CLMT </a><a href="https://roic.ai/company/AASZF " target="_blank">AASZF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/63ffdbf2cfa90630a0b07567/1677712371223/2022+Q4_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="14%">3/03/2023</td><td width="39%"><a href="https://roic.ai/company/ALTG " target="_blank">ALTG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/c2c02322-09f5-a9e7-0cc2-5c1d5994635c/030923_Bonhoeffer_Partner_Letter_Q4_2022.pdf">Bonhoeffer Capital Management</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/KT " target="_blank">KT </a><a href="https://roic.ai/company/TIIAY " target="_blank">TIIAY </a><a href="https://roic.ai/company/SSP " target="_blank">SSP </a><a href="https://roic.ai/company/GTN " target="_blank">GTN </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/BLDR " target="_blank">BLDR </a><a href="https://roic.ai/company/NICE" target="_blank">NICE</a><a href="https://roic.ai/company/NICE" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/FEM/2022/HL-FEM-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner Global Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Cos-Quarterly-Report-4Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/VAIAS.HE " target="_blank">VAIAS.HE </a><a href="https://roic.ai/company/TMRAY " target="_blank">TMRAY </a><a href="https://roic.ai/company/0QKB.L" target="_blank">0QKB.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner International Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-Intl-Small-Cos-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.appleseedfund.com/wp-content/uploads/2022/12/2022-Appleseed-annual-letter.pdf">Appleseed Fund</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmharbourcapital.com/files/PHC_Letter_Q4_2022_FINAL_EN.pdf">Palm Harbour Capital</a></td><td width="14%">3/16/2023</td><td width="39%"><a href="https://roic.ai/company/LNA.PA" target="_blank">LNA.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fundsmith.co.uk/media/bm0lyc22/annual-letter-to-shareholders-2022.pdf">Fundsmith Equity Fund</a></td><td width="14%">3/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href=""></a></td><td width="14%"> </td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
</tbody>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">3rd Quarter 2022</span>
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<thead>
<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
</thead>
<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/10/STJIC-Adviser-Letter-2022-Q3.pdf">St. James Investment Company </a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_72_en.pdf">Vltava Fund</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ATD.TO " target="_blank">ATD.TO </a><a href="https://roic.ai/company/BRK-B " target="_blank">BRK-B </a><a href="https://roic.ai/company/BMW.DE " target="_blank">BMW.DE </a><a href="https://roic.ai/company/CVS " target="_blank">CVS </a><a href="https://roic.ai/company/JPM " target="_blank">JPM </a><a href="https://roic.ai/company/LMT " target="_blank">LMT </a><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/MKL " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/633c8df908400e1e6f281e9b/1664912890141/Q32022.pdf">Comus Investments</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/2022-q3-letter/">Moon Capital</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ALLY " target="_blank">ALLY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6343a480b2dc737b6247b478/1665377408612/2022+Q3.pdf">Blue Tower Asset Management</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ENVA" target="_blank">ENVA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/10/QUARTERLY-REPORT-WEB-Sept-2022.pdf">East72 Holdings</a></td><td width="14%">10/17/2022</td><td width="39%"><a href="https://roic.ai/company/MSGS " target="_blank">MSGS </a><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_0c3a777e46d8414cbd20c537775e892e.pdf">Palm Valley Capital Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/KELYA " target="_blank">KELYA </a><a href="https://roic.ai/company/MAN " target="_blank">MAN </a><a href="https://roic.ai/company/SNN " target="_blank">SNN </a><a href="https://roic.ai/company/SRM " target="_blank">SRM </a><a href="https://roic.ai/company/CRDA" target="_blank">CRDA</a><a href="https://roic.ai/company/WHGLY " target="_blank">WHGLY </a><a href="https://roic.ai/company/ODC" target="_blank">ODC</a><a href="https://roic.ai/company/ODC" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/10/3Q-2022-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/10/3Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/FIVN " target="_blank">FIVN </a><a href="https://roic.ai/company/BKNG" target="_blank">BKNG</a><a href="https://roic.ai/company/INTU " target="_blank">INTU </a><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/WDAY " target="_blank">WDAY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_3Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_3bc0278b487a4c69988e2ef2f44627ca.pdf">Old West Capital Management</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/FIL.TO " target="_blank">FIL.TO </a><a href="https://roic.ai/company/FLMMF" target="_blank">FLMMF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3162">Miller/Howard Investments</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/wp-content/uploads/2022/10/Andvari-2022q3-letter-1.pdf">Andvari Associates</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/634db41b0b7dab72e4496ebd/1666036763837/GCAM+2022+Q3+letter+.pdf">Giverny Capital Asset Management</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/63480ee00d8483044cb4a8f7/1665666784591/Q3+2022+Letter.pdf">Curreen Capital</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2022.pdf">L1 Capital Long Short Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/10/L1-Capital-International-September-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-09.30.22.pdf">Baron Health Care Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/HUM " target="_blank">HUM </a><a href="https://roic.ai/company/ALNY " target="_blank">ALNY </a><a href="https://roic.ai/company/DHR " target="_blank">DHR </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/ISRG" target="_blank">ISRG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_5f53ace924b14d07a30f8e7c99be4a78.pdf">Merion Road Capital</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/SIX " target="_blank">SIX </a><a href="https://roic.ai/company/CRMT " target="_blank">CRMT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_10_18.pdf">Myrmikan Research</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/10/Akre-Focus-Fund-Quarterly-Commentary-2022-Q3.pdf#page=1">Akre Focus Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/third-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220930.pdf">FMI All Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/AVY " target="_blank">AVY </a><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220930.pdf">FMI International Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/BME.L " target="_blank">BME.L </a><a href="https://roic.ai/company/HWDN.L" target="_blank">HWDN.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220930.pdf">FMI Large Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/AVY " target="_blank">AVY </a><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220930.pdf">FMI Small Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/SSD " target="_blank">SSD </a><a href="https://roic.ai/company/G" target="_blank">G</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/MS" target="_blank">MS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/ACGL " target="_blank">ACGL </a><a href="https://roic.ai/company/ALC" target="_blank">ALC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/MKSI " target="_blank">MKSI </a><a href="https://roic.ai/company/ROST" target="_blank">ROST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_335ac33761cb41fca0df619b92792f4e.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/EZJ.L" target="_blank">EZJ.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/CEG " target="_blank">CEG </a><a href="https://roic.ai/company/SWKS " target="_blank">SWKS </a><a href="https://roic.ai/company/AAP " target="_blank">AAP </a><a href="https://roic.ai/company/TCBI" target="_blank">TCBI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/NOV " target="_blank">NOV </a><a href="https://roic.ai/company/PDCO " target="_blank">PDCO </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/PLOW " target="_blank">PLOW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/10/Q3-2022-Letter.pdf">Distillate Capital</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-09.30.22_0.pdf">Baron Asset Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/LPLA" target="_blank">LPLA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-09.30.22.pdf">Baron Real Estate Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/PLD " target="_blank">PLD </a><a href="https://roic.ai/company/NTST " target="_blank">NTST </a><a href="https://roic.ai/company/SBAC " target="_blank">SBAC </a><a href="https://roic.ai/company/REXR " target="_blank">REXR </a><a href="https://roic.ai/company/POOL" target="_blank">POOL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-09.30.22.pdf">Baron Discovery Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/TXRH " target="_blank">TXRH </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/CDNA " target="_blank">CDNA </a><a href="https://roic.ai/company/NVTS " target="_blank">NVTS </a><a href="https://roic.ai/company/SMRT" target="_blank">SMRT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q3.pdf">Alphyn Capital Management</a></td><td width="14%">10/23/2022</td><td width="39%"><a href="https://roic.ai/company/WAND.L " target="_blank">WAND.L </a><a href="https://roic.ai/company/AHT.L " target="_blank">AHT.L </a><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/IAC" target="_blank">IAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/634e89d6a2cbef04f1622a8f/1666091479613/Upslope+-+2022Q3+Letter.pdf">Upslope Capital Management</a></td><td width="14%">10/23/2022</td><td width="39%"><a href="https://roic.ai/company/CACI " target="_blank">CACI </a><a href="https://roic.ai/company/BOMXF" target="_blank">BOMXF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tidefallcapital.com/_files/ugd/8a849d_3fae497374bf484ea2ff05fa846574c9.pdf">Tidefall Capital Management</a></td><td width="14%">10/25/2022</td><td width="39%"><a href="https://roic.ai/company/FFH.TO" target="_blank">FFH.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/10/Alluvial-Capital-Management-Q3-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="14%">10/25/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/BFCC " target="_blank">BFCC </a><a href="https://roic.ai/company/UBAB " target="_blank">UBAB </a><a href="https://roic.ai/company/CBOBA " target="_blank">CBOBA </a><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/JOB" target="_blank">JOB</a><a href="https://roic.ai/company/JOB" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q3NP.pdf">Hoisington Investment Management</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-3Q2022.pdf.pdf">Polen - U.S. SMID Company Growth </a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/EEFT " target="_blank">EEFT </a><a href="https://roic.ai/company/BMBL" target="_blank">BMBL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-3Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/ILMN" target="_blank">ILMN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2022.pdf">Polen Capital - Global Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/OR.PA" target="_blank">OR.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - Global SMID Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2022.pdf">Polen Capital - International Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/KER.PA " target="_blank">KER.PA </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/EVO.ST" target="_blank">EVO.ST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=638023291350000000">Weitz Hickory Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/CHTR " target="_blank">CHTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638023291350000000">Weitz Partners III Opportunity Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638023291350000000">Weitz Partners Value Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638023291350000000">Weitz Value Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-09.30.22.pdf">Baron Small Cap Fund</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/CAKE " target="_blank">CAKE </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/CLVT" target="_blank">CLVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-09.30.22.pdf">Baron Opportunity Fund</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/MPWR " target="_blank">MPWR </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/NET " target="_blank">NET </a><a href="https://roic.ai/company/INDI" target="_blank">INDI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/636060c8d7eb05165dcc49f4/1667260616405/NZS+Capital+Q3+2022+Letter.pdf">NZS Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.okeefestevens.com/wp-content/uploads/2022/10/Q3-2022-Letter-1.pdf">O'Keefe Stevens</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/LAZ " target="_blank">LAZ </a><a href="https://roic.ai/company/SRG " target="_blank">SRG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-q3-2022-letter">Rowan Street Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1izeodANnozDBAGIUqaBbVZDbA3pC3it4/view">Greenlight Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/6360899201fcc54056e8475f/1667271058990/Nordstern+Capital+3Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/3q2022-commentary">Whitebrook Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/BOX" target="_blank">BOX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/2baa1d32-1047-4534-86e2-f8957c0774de.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/CHRD " target="_blank">CHRD </a><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/SRC" target="_blank">SRC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llin-commentary/">Longleaf Partners International Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=3Q2022">Ave Maria Funds</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/DBRG " target="_blank">DBRG </a><a href="https://roic.ai/company/EDR.MC " target="_blank">EDR.MC </a><a href="https://roic.ai/company/AMMO" target="_blank">AMMO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/APFDX-APDDX-APHDX-QCommentary-3Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTKX-APDKX-APHKX-QCommentary-3Q22-vR.pdf">Artisan International Value Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTMX-APDMX-APHMX-QCommentary-3Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTSX-APDSX-APHSX-QCommentary-3Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/MTSI " target="_blank">MTSI </a><a href="https://roic.ai/company/IRTC " target="_blank">IRTC </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTLX-APDLX-APHLX-QCommentary-3Q22-vR.pdf">Artisan Value Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTTX-APDTX-APHTX-QCommentary-3Q22-vR.pdf">Artisan Focus Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2022/10/RGAIA-Q322-INVESTMENT-COMMENTARY.pdf">RGA Investment Advisors</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/BMY " target="_blank">BMY </a><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/MXCT " target="_blank">MXCT </a><a href="https://roic.ai/company/REGN" target="_blank">REGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/6345b2150a72d45aebb4ca7b/1665511958488/3Q22+letter+FINAL.pdf">Long Cast Advisers </a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_38844241568340438328f3a4b83aa589.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/LDOS " target="_blank">LDOS </a><a href="https://roic.ai/company/TTC" target="_blank">TTC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q3.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/5h5ztiwrudtejz4/2022_CTG_InvestorLetter_II.pdf?dl=0">Canterbury Tollgate</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/11/2022Q3-Commentary.pdf">Palm Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2022/10/CSCAX_2022-09-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/ECVT " target="_blank">ECVT </a><a href="https://roic.ai/company/GBLI " target="_blank">GBLI </a><a href="https://roic.ai/company/WSTG " target="_blank">WSTG </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/VSAT " target="_blank">VSAT </a><a href="https://roic.ai/company/CARG" target="_blank">CARG</a><a href="https://roic.ai/company/CARG" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/rising-uncertainty-greater-value-potential/">Miller Deep Value</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/TPC " target="_blank">TPC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/pop-goes-the-safety-bubble/">Miller Income Strategy</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/ARLP " target="_blank">ARLP </a><a href="https://roic.ai/company/CHK " target="_blank">CHK </a><a href="https://roic.ai/company/BKE " target="_blank">BKE </a><a href="https://roic.ai/company/OGN " target="_blank">OGN </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/VTRS" target="_blank">VTRS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/miller-opportunity-equity-3q2022-commentary/">Miller Opportunity Trust</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/10/HCM-Q3-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/UFPT" target="_blank">UFPT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/3Q22%20-%20FV.html">Bireme Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/11/Epoch-Quarterly-Newsletter_November-2022.pdf">Epoch Investment Partners</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/abb1a0_d96d3b63ef9249a4a1778f8368c0d997.pdf">Arch Capital Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/ADSK" target="_blank">ADSK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2022/11/VVP-Quarterly-Letter-22.09.30.pdf">Vulcan Value Partners</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-Q322.pdf">Horos Funds</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2022/10/2022-Q3-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/WCC " target="_blank">WCC </a><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/OEC " target="_blank">OEC </a><a href="https://roic.ai/company/FARM" target="_blank">FARM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2022/">Oakmark Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/FBHS " target="_blank">FBHS </a><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2022/">Oakmark Global Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-third-quarter-2022/">Oakmark Global Select Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-third-quarter-2022/">Oakmark International Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-third-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2022/">Oakmark Select Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/KKR" target="_blank">KKR</a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/WFC" target="_blank">WFC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q3-2022-Review-1.pdf">Horizon Kinetics</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-09.30.22.pdf">Baron FinTech Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/FDS " target="_blank">FDS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-09.30.22.pdf">Baron Growth Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Growth-Fund-Quarterly-Letter-09.30.22.pdf">Baron Fifth Avenue Growth Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/TEAM " target="_blank">TEAM </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-09.30.22.pdf">Blue Hawk Investment Group </a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202209/Commentary-Small-Cap-Fund-2022-09-30.pdf?c=638041193440000000">Diamond Hill Small Cap Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_88fbbb3c8834487e9613e5d9b99bcdb2.pdf">Greystone Capital Management</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/POL " target="_blank">POL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/bc1677a8-bc5f-f676-765a-c17cf163274d/Third_Quarter_2022_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20220930.pdf">Rondure Global</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/63828b47a89b9902cff228f3/1669499719982/Greenhaven+Road+-+2022+Q3+final.pdf">Greenhaven Road Capital</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/HGTY " target="_blank">HGTY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lvsadvisory.com/wp-content/uploads/2022/11/LVS-Advisory-Letter-Q3-2022.pdf">LVS Advisory</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1YX1wN-8uUGmgpr-7WONZxhWgmdHNE4xD/view">Andaz Private Investments</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/CEG " target="_blank">CEG </a><a href="https://roic.ai/company/PCTY " target="_blank">PCTY </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/AVTR " target="_blank">AVTR </a><a href="https://roic.ai/company/MRCY " target="_blank">MRCY </a><a href="https://roic.ai/company/SGEN" target="_blank">SGEN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/RBC " target="_blank">RBC </a><a href="https://roic.ai/company/SWAV " target="_blank">SWAV </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/MRCY " target="_blank">MRCY </a><a href="https://roic.ai/company/HSKA " target="_blank">HSKA </a><a href="https://roic.ai/company/QDEL" target="_blank">QDEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/AMRC " target="_blank">AMRC </a><a href="https://roic.ai/company/SPSC " target="_blank">SPSC </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/DRQ " target="_blank">DRQ </a><a href="https://roic.ai/company/DH" target="_blank">DH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6351f52d0605461c7ccb2368/1666315566155/Q3+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/BFCC " target="_blank">BFCC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/11/DKAM-ROE-Reporter-November-2022-Final-1.pdf">Donville Kent Asset Management</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/">Ariel Trust Funds</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/GNRC " target="_blank">GNRC </a><a href="https://roic.ai/company/SJM " target="_blank">SJM </a><a href="https://roic.ai/company/AD.AS " target="_blank">AD.AS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://dmzpartners.in/Documents/Files/DMZ-1953-DMZ-Partners-Semi-Annual-FY-22-23-(Redacted).pdf">DMZ Partners</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">2nd Quarter 2022</span>
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="https://andvariassociates.com/q2-2022-letter">Andvari Associates</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE" target="_blank">ADBE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/62c34100d8a0b71baa04f0d6/1656963328450/Q22022.pdf">Comus Investments</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/07/STJIC-Adviser-Letter-2022-Q2.pdf">St. James Investment Company </a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_71_en.pdf">Vltava Fund</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/CVE" target="_blank">CVE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_9ed0664cbf44487498dabef6136c34a9.pdf">Palm Valley Capital Fund</a></td><td width="13%">7/11/2022</td><td width="39%"><a href="https://roic.ai/company/CRI " target="_blank">CRI </a><a href="https://roic.ai/company/ORI " target="_blank">ORI </a><a href="https://roic.ai/company/HOFT " target="_blank">HOFT </a><a href="https://roic.ai/company/LSDAF " target="_blank">LSDAF </a><a href="https://roic.ai/company/NATH" target="_blank">NATH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/q2-2022-letter/">Moon Capital</a></td><td width="13%">7/11/2022</td><td width="39%"><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/07/QUARTERLY-REPORT-WEB-June-2022.pdf">East72 Holdings</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/UHAL" target="_blank">UHAL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220630.pdf">FMI All Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220630.pdf">FMI International Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220630.pdf">FMI Large Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220630.pdf">FMI Small Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/07/Akre-Focus-Fund-Quarterly-Commentary-2022-Q2.pdf#page=1">Akre Focus Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LNSTY" target="_blank">LNSTY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-june-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LNSTY" target="_blank">LNSTY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_1873be9d3ce44fc3b5c369e601b24bf2.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/POOL " target="_blank">POOL </a><a href="https://roic.ai/company/SBUX " target="_blank">SBUX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DiversifiedIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/FWONA " target="_blank">FWONA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/MODN" target="_blank">MODN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.okeefestevens.com/the-value-connection-q3-2022/">O'Keefe Stevens</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_c3d41bb31a4e4fceaeda7fd688900816.pdf">Merion Road Capital</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/WHG" target="_blank">WHG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/07/2Q-2022-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/07/2Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2022.pdf">L1 Capital Long Short Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/CVE " target="_blank">CVE </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/BLSFF " target="_blank">BLSFF </a><a href="https://roic.ai/company/CSCCF " target="_blank">CSCCF </a><a href="https://roic.ai/company/MALRF " target="_blank">MALRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/07/L1-Capital-International-June-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/EXP " target="_blank">EXP </a><a href="https://roic.ai/company/LPX " target="_blank">LPX </a><a href="https://roic.ai/company/GPK " target="_blank">GPK </a><a href="https://roic.ai/company/IQV" target="_blank">IQV</a><a href="https://roic.ai/company/IQV" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/62cbc62477b6d55880a73619/1657521700839/2022+Q2.pdf">Blue Tower Asset Management</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/TWLO " target="_blank">TWLO </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/NKE " target="_blank">NKE </a><a href="https://roic.ai/company/ADYEY " target="_blank">ADYEY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_2Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/62cdd2395fa0eb484016f5ee/1657655865394/NZS+Capital+Q2+2022+Letter.pdf">NZS Capital</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/62d2310dc4c1847abbeb2e81/1657942290214/Worm+Capital+-+Q2+2022+Investor+Letter+-+Final.pdf">Worm Capital</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_3d822183168e4209b8a3667996b689ba.pdf">Old West Capital Management</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/LMT" target="_blank">LMT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/07/Q2-2022-letter.pdf">Distillate Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/COLD " target="_blank">COLD </a><a href="https://roic.ai/company/FIBK " target="_blank">FIBK </a><a href="https://roic.ai/company/SNA " target="_blank">SNA </a><a href="https://roic.ai/company/G " target="_blank">G </a><a href="https://roic.ai/company/THO " target="_blank">THO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/CSV " target="_blank">CSV </a><a href="https://roic.ai/company/STKL " target="_blank">STKL </a><a href="https://roic.ai/company/DINO " target="_blank">DINO </a><a href="https://roic.ai/company/NWPX " target="_blank">NWPX </a><a href="https://roic.ai/company/CECE " target="_blank">CECE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/POWL " target="_blank">POWL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/62d84967f06fb35bcb155c28/1658341735984/Q2+2022+Letter.pdf">Curreen Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q2.pdf">Alphyn Capital Management</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/CRSS " target="_blank">CRSS </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/W " target="_blank">W </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3141">Miller/Howard Investments</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/62d79087a80fcc2f5c2d10b3/1658294408196/Nordstern+Capital+2Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/ARCH " target="_blank">ARCH </a><a href="https://roic.ai/company/ERJ " target="_blank">ERJ </a><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/EVVTY " target="_blank">EVVTY </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-06.30.22.pdf">Baron Health Care Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/BMY " target="_blank">BMY </a><a href="https://roic.ai/company/VRTX " target="_blank">VRTX </a><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/INGEF " target="_blank">INGEF </a><a href="https://roic.ai/company/VESTF " target="_blank">VESTF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/DHI " target="_blank">DHI </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/SUPN " target="_blank">SUPN </a><a href="https://roic.ai/company/CCF " target="_blank">CCF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/THYCF " target="_blank">THYCF </a><a href="https://roic.ai/company/AJMPF " target="_blank">AJMPF </a><a href="https://roic.ai/company/SCPPF" target="_blank">SCPPF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/2q2022-commentary">Whitebrook Capital</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/ITRI " target="_blank">ITRI </a><a href="https://roic.ai/company/AFYA " target="_blank">AFYA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-1h-2022-letter">Rowan Street Capital</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/PTON " target="_blank">PTON </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-06.30.22.pdf">Baron Discovery Fund</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/GWRE " target="_blank">GWRE </a><a href="https://roic.ai/company/ASGN " target="_blank">ASGN </a><a href="https://roic.ai/company/CDAY " target="_blank">CDAY </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/ESTA " target="_blank">ESTA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-06.30.22.pdf">Baron Real Estate Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/AVB " target="_blank">AVB </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/FBHS " target="_blank">FBHS </a><a href="https://roic.ai/company/DLR " target="_blank">DLR </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/second-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/NOW " target="_blank">NOW </a><a href="https://roic.ai/company/MASI " target="_blank">MASI </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/FAF " target="_blank">FAF </a><a href="https://roic.ai/company/HD" target="_blank">HD</a><a href="https://roic.ai/company/HD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/94923153-a150-4b32-838d-a5f30725880d.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/CADE " target="_blank">CADE </a><a href="https://roic.ai/company/HHC " target="_blank">HHC </a><a href="https://roic.ai/company/TRNO" target="_blank">TRNO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/62d7ddf71cba2f101dd6f698/1658314232755/Upslope+-+2022Q2+Letter.pdf">Upslope Capital Management</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/BALL " target="_blank">BALL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q2NP.pdf">Hoisington Investment Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q2-2022-Review_FINAL_2.pdf">Horizon Kinetics</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/WPM " target="_blank">WPM </a><a href="https://roic.ai/company/ATUSF " target="_blank">ATUSF </a><a href="https://roic.ai/company/ATRWF " target="_blank">ATRWF </a><a href="https://roic.ai/company/CME " target="_blank">CME </a><a href="https://roic.ai/company/PREKF" target="_blank">PREKF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2022/">Oakmark Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/DIS " target="_blank">DIS </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/MAS " target="_blank">MAS </a><a href="https://roic.ai/company/ORCL " target="_blank">ORCL </a><a href="https://roic.ai/company/PH" target="_blank">PH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2022/">Oakmark Global Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-quarter-2022/">Oakmark Global Select Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-quarter-2022/">Oakmark International Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/CS " target="_blank">CS </a><a href="https://roic.ai/company/PPRUY" target="_blank">PPRUY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-second-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/ELEEF " target="_blank">ELEEF </a><a href="https://roic.ai/company/ATEAY " target="_blank">ATEAY </a><a href="https://roic.ai/company/FLUIF " target="_blank">FLUIF </a><a href="https://roic.ai/company/NEXXY " target="_blank">NEXXY </a><a href="https://roic.ai/company/XPG.F" target="_blank">XPG.F</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2022/">Oakmark Select Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/07/Alluvial-Capital-Management-Q2-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/GTXAP " target="_blank">GTXAP </a><a href="https://roic.ai/company/TIMB " target="_blank">TIMB </a><a href="https://roic.ai/company/BSND " target="_blank">BSND </a><a href="https://roic.ai/company/CUSI" target="_blank">CUSI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/62cf0ec135184b57392bd28a/1657736897912/GCAM+Q2+2022+letter_.pdf">Giverny Capital Asset Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/ASHTF " target="_blank">ASHTF </a><a href="https://roic.ai/company/ADI " target="_blank">ADI </a><a href="https://roic.ai/company/FND" target="_blank">FND</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202206/Commentary-Small-Cap-Fund-2022-06-30.pdf?c=637941173470000000">Diamond Hill Small Cap Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/FA " target="_blank">FA </a><a href="https://roic.ai/company/ECOM " target="_blank">ECOM </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/ESAB " target="_blank">ESAB </a><a href="https://roic.ai/company/ENOV" target="_blank">ENOV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/values-opportunity-in-uncertain-times/">Pzena Investment Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_07_13.pdf">Myrmikan Research</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/EVH " target="_blank">EVH </a><a href="https://roic.ai/company/CYRX " target="_blank">CYRX </a><a href="https://roic.ai/company/GO " target="_blank">GO </a><a href="https://roic.ai/company/HRI " target="_blank">HRI </a><a href="https://roic.ai/company/ATRC " target="_blank">ATRC </a><a href="https://roic.ai/company/INSP" target="_blank">INSP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/APPL " target="_blank">APPL </a><a href="https://roic.ai/company/MSFT" target="_blank">MSFT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/low-valuation-securities-remain-attractive/">Miller Deep Value</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/AXL " target="_blank">AXL </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/FTI " target="_blank">FTI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WMB " target="_blank">WMB </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/GE" target="_blank">GE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2qllgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2q-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WHGLY " target="_blank">WHGLY </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/DPZ " target="_blank">DPZ </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/EXXRF" target="_blank">EXXRF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2qllsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/OSCR " target="_blank">OSCR </a><a href="https://roic.ai/company/VMEO " target="_blank">VMEO </a><a href="https://roic.ai/company/HOUS " target="_blank">HOUS </a><a href="https://roic.ai/company/ESRT " target="_blank">ESRT </a><a href="https://roic.ai/company/WEST" target="_blank">WEST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2022/07/CSCAX_2022-06-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/HNRG " target="_blank">HNRG </a><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/VSAT " target="_blank">VSAT </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/INFU " target="_blank">INFU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=4Q2021">Ave Maria Funds</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/BAMR " target="_blank">BAMR </a><a href="https://roic.ai/company/GPRE " target="_blank">GPRE </a><a href="https://roic.ai/company/CHK " target="_blank">CHK </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/MIR " target="_blank">MIR </a><a href="https://roic.ai/company/STNE" target="_blank">STNE</a><a href="https://roic.ai/company/STNE" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mawer.com/tools-and-resources/mawer-quarterly/second-quarter-2022/">Mawer Mutual Funds</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ip-capitalpartners.com/reports/turbulencia-disciplina-e-oportunidades/">IP-Capital Partners</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/CHTR " target="_blank">CHTR </a><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637941317810000000">Weitz Hickory Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637941317810000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637941317810000000">Weitz Partners Value Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637941317810000000">Weitz Value Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202206.pdf">Bronte Capital</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/62e2e2f20516c810ef10968d/1659036402933/Q2%2722+letter.pdf">1 Main Capital Partners</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/KKR" target="_blank">KKR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_3fd6189e2a71450f962f24f91188aa47.pdf">Emeth Value Capital</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/DECPF" target="_blank">DECPF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_2Q_2022.pdf">Saltlight Capital </a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/Q2%202022%20Investor%20Letter.pdf">Praetorian Capital </a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_6b3d9dfea2cc42fb9f2318b7c81a7061.pdf">Greystone Capital Management</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/IDT " target="_blank">IDT </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/ec64f82f-10b4-eda5-697d-61f8bc7c5f50/Second_Quarter_2022_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5a57e9fd53450ad1027d1e2f/1515710973971/Maran+Partners+Fund+LP+Founders+Letter_Web.pdf">Maran Capital Management</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-2Q2022.pdf">Polen - U.S. SMID Company Growth </a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-2Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/ABNB " target="_blank">ABNB </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2022.pdf">Polen Capital - Global Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2022.pdf">Polen Capital - International Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1659734271304">Miller Income Strategy</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/HRB " target="_blank">HRB </a><a href="https://roic.ai/company/ARLP " target="_blank">ARLP </a><a href="https://roic.ai/company/HMPT " target="_blank">HMPT </a><a href="https://roic.ai/company/JXN" target="_blank">JXN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1659734087106">Miller Opportunity Trust</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/UAL " target="_blank">UAL </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/KRTX " target="_blank">KRTX </a><a href="https://roic.ai/company/NCLH " target="_blank">NCLH </a><a href="https://roic.ai/company/COIN " target="_blank">COIN </a><a href="https://roic.ai/company/BHC" target="_blank">BHC</a><a href="https://roic.ai/company/BHC" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/2Q22%20-%20FV.html">Bireme Capital</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/08/Epoch-Quarterly-Newsletter_July-2022.pdf">Epoch Investment Partners</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/62e2cb493d43c21e9376276e/1659030345791/Q2+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/WCRS " target="_blank">WCRS </a><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/07/HCM-Q2-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/QLYS " target="_blank">QLYS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20220630.pdf">Rondure Global</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1FS2qH8wCrX1GJzXVnCNKruC88PSVEAeM/view">Tidefall Capital Management</a></td><td width="13%">8/06/2022</td><td width="39%"><a href="https://roic.ai/company/ONEXF" target="_blank">ONEXF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_263985b67ed3417898a45ca656079240.pdf">Arch Capital Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/IAC" target="_blank">IAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1q4vlkXfomG1UDoGDBOdqVQza0UfOwLFB/view">Andaz Private Investments</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2022/08/VVP-Quarterly-Letter-22.06.30.pdf">Vulcan Value Partners</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/SNBR " target="_blank">SNBR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/62ea7798a152c62213de90d3/1659533208350/2022+Q2_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/EXTR" target="_blank">EXTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2022-q2.pdf?sfvrsn=178909d_4">FPA Crescent Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-value-fund/literature/fpa-qr-value-fund-commentary-2022-q2.pdf?sfvrsn=127d909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-06.pdf?sfvrsn=9d78909d_4">FPA U.S. Core Equity Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/62d556904064b731387d7ff0/1658148496935/Laughing+Water+Capital+1H%2722.pdf">Laughing Water Capital</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/AIMFF " target="_blank">AIMFF </a><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/LNDC " target="_blank">LNDC </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/FREE " target="_blank">FREE </a><a href="https://roic.ai/company/TACT" target="_blank">TACT</a><a href="https://roic.ai/company/TACT" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/commentary/q2-2022/">RGA Investment Advisors</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/MXCT" target="_blank">MXCT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q22.pdf">Horos Funds</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2022/07/2022-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/FARM " target="_blank">FARM </a><a href="https://roic.ai/company/OEC " target="_blank">OEC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-06.30.22.pdf">Baron Asset Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/ICLR " target="_blank">ICLR </a><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-06.30.22.pdf">Baron FinTech Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/PGR" target="_blank">PGR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-06.30.22.pdf">Baron Growth Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/2Q22-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_58936293e76f4b18a81f15c112767f12.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/POOL " target="_blank">POOL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q2.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2022/HL-EM-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner Global Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/SIVB " target="_blank">SIVB </a><a href="https://roic.ai/company/ADYEY" target="_blank">ADYEY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Companies-Quarterly-Report-2Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner International Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-International-Small-Companies-Quarterly-Report-2Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/62eb088133bf8171c47f3445/1659570306154/2022.Q2+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/EVBG " target="_blank">EVBG </a><a href="https://roic.ai/company/XPEL " target="_blank">XPEL </a><a href="https://roic.ai/company/NGMS" target="_blank">NGMS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=9707b2a5f8">Argosy Investors</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/DFH " target="_blank">DFH </a><a href="https://roic.ai/company/AMOT " target="_blank">AMOT </a><a href="https://roic.ai/company/CURV " target="_blank">CURV </a><a href="https://roic.ai/company/FTV " target="_blank">FTV </a><a href="https://roic.ai/company/VNT " target="_blank">VNT </a><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/WBD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-06.30.22.pdf">Baron Partners Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-06.30.22.pdf">Baron Small Cap Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/SPT" target="_blank">SPT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/posts/artko-capital-2q-2022-partner-letter-wQrTlD7W">Artko Capital</a></td><td width="13%">8/16/2022</td><td width="39%"><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/PBPB " target="_blank">PBPB </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/HQI" target="_blank">HQI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/62e1b3a1a3675577a5c65806/1658958753933/2Q22+letter+final.pdf">Long Cast Advisers </a></td><td width="13%">8/16/2022</td><td width="39%"><a href="https://roic.ai/company/CCRN " target="_blank">CCRN </a><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/QRHC " target="_blank">QRHC </a><a href="https://roic.ai/company/DAIO " target="_blank">DAIO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/07/2022Q2-Commentary.pdf">Palm Capital</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/62f449c44ff2ac1a47ebbec8/1660176836873/Bonsai+Partners+Fund+Q2+2022+Investor+Letter+Final+For+Distribution.pdf">Bonsai Partners</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/RDBBF " target="_blank">RDBBF </a><a href="https://roic.ai/company/XPEL" target="_blank">XPEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/insider-buying-and-buybacks-at-hqi?utm_source=substack&utm_medium=email">Mindset Value Fund</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/MRMD " target="_blank">MRMD </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/NNI " target="_blank">NNI </a><a href="https://roic.ai/company/CNRFF" target="_blank">CNRFF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rvcapital.ch/post/first-half-2022-letter-to-co-investors-in-business-owner?utm_campaign=6b0317a6-2ab9-4e29-9937-076fe1218d6b&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/CACC " target="_blank">CACC </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/CVNA" target="_blank">CVNA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.gwinvestors.com/wp-content/uploads/2022.08.24-Q2-Letter-v3.pdf">GreenWood Investors</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/CTTPY " target="_blank">CTTPY </a><a href="https://roic.ai/company/KOD " target="_blank">KOD </a><a href="https://roic.ai/company/MEIP " target="_blank">MEIP </a><a href="https://roic.ai/company/LTRPA " target="_blank">LTRPA </a><a href="https://roic.ai/company/RH" target="_blank">RH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.riveroakcapital.se/docs/2022H1-ShareholderLetter-inclSinchComment-RiverOakCapitalAB.pdf">River Oak Capital</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/QTGPF " target="_blank">QTGPF </a><a href="https://roic.ai/company/SINCH.ST " target="_blank">SINCH.ST </a><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/APFDX-APDDX-APHDX-QCommentary-2Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/MAREL.AS " target="_blank">MAREL.AS </a><a href="https://roic.ai/company/VEEV " target="_blank">VEEV </a><a href="https://roic.ai/company/ON" target="_blank">ON</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTKX-APDKX-APHKX-QCommentary-2Q22-vR.pdf">Artisan International Value Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTMX-APDMX-APHMX-QCommentary-2Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/VEEV " target="_blank">VEEV </a><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/RYAN " target="_blank">RYAN </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTSX-APDSX-APHSX-QCommentary-2Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/NVST " target="_blank">NVST </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/JBT " target="_blank">JBT </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/SPT " target="_blank">SPT </a><a href="https://roic.ai/company/DV" target="_blank">DV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTLX-APDLX-APHLX-QCommentary-2Q22-vR.pdf">Artisan Value Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/BAC " target="_blank">BAC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://goodhavenfunds.com/media/GOODX%202022%20Semi-Annual%20Report.pdf">GoodHaven Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ad6aa59-a7ab-2ada-d10c-d6a911285822/Steel_City_Capital_2Q_22_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/TRUP " target="_blank">TRUP </a><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/SCI " target="_blank">SCI </a><a href="https://roic.ai/company/ETRN " target="_blank">ETRN </a><a href="https://roic.ai/company/UNTC " target="_blank">UNTC </a><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/630ae597b0970b461c0bb3a1/1661658519729/Greenhaven+Road+%282022+Q2%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">8/31/2022</td><td width="39%"><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">1st Quarter 2022</span>
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<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/04/STJIC-Adviser-Letter-2022-Q1.pdf">St. James Investment Company </a></td><td width="13%">4/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/04/QUARTERLY-REPORT-March-2022-Public.pdf">East72 Holdings</a></td><td width="13%">4/07/2022</td><td width="39%"><a href="https://roic.ai/company/VWAGY" target="_blank">VWAGY </a><a href="https://roic.ai/company/AU1.AX" target="_blank">AU1.AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/dopisy-akcionarum/war">Vltava Fund</a></td><td width="13%">4/08/2022</td><td width="39%"><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/CE " target="_blank">CE </a><a href="https://roic.ai/company/KLAC" target="_blank">KLAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/624a258b6c76b76db54c3f1f/1649026443456/Q12022.pdf">Comus Investments</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_a39d94d07f5a4ff8a1deec3550b06e6c.pdf">Palm Valley Capital Fund</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/HTLD " target="_blank">HTLD </a><a href="https://roic.ai/company/PLPC " target="_blank">PLPC </a><a href="https://roic.ai/company/MLR " target="_blank">MLR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/q1-2022-letter/">Moon Capital</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/MLNK " target="_blank">MLNK </a><a href="https://roic.ai/company/LGIH " target="_blank">LGIH </a><a href="https://roic.ai/company/GRBK" target="_blank">GRBK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/6151d62c-8cdf-d92d-0813-b9836d243d33/March_2022_Investor_Letter_What_if_a_Recession_is_the_Curevfin.pdf">Richie Capital Group</a></td><td width="13%">4/11/2022</td><td width="39%"><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/NXST " target="_blank">NXST </a><a href="https://roic.ai/company/SEDG " target="_blank">SEDG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_3ab5b8a4581b46ff8e8add6ab6705cc9.pdf">Merion Road Capital</a></td><td width="13%">4/11/2022</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/PTON " target="_blank">PTON </a><a href="https://roic.ai/company/SPWH" target="_blank">SPWH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/e1858d66-b8a2-4b96-71df-a603ceb99dc3/First_Quarter_2022_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CTAS " target="_blank">CTAS </a><a href="https://roic.ai/company/SMCYY " target="_blank">SMCYY </a><a href="https://roic.ai/company/HOCPY " target="_blank">HOCPY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CTAS " target="_blank">CTAS </a><a href="https://roic.ai/company/SMCYY " target="_blank">SMCYY </a><a href="https://roic.ai/company/HOCPY " target="_blank">HOCPY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_9aeda574e86d4f54b0b574ce3caa252a.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/625756132bad9d6fb7b93d3a/1649890835942/Q1+2022+-+Investor+Letter+-+4-12.pdf">Worm Capital</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220331.pdf">FMI All Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CSL " target="_blank">CSL </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220331.pdf">FMI International Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/SDXAY " target="_blank">SDXAY </a><a href="https://roic.ai/company/GRG.L" target="_blank">GRG.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220331.pdf">FMI Large Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CSL " target="_blank">CSL </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220331.pdf">FMI Small Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/SKX " target="_blank">SKX </a><a href="https://roic.ai/company/NVT " target="_blank">NVT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/EOG " target="_blank">EOG </a><a href="https://roic.ai/company/ADM " target="_blank">ADM </a><a href="https://roic.ai/company/NUE" target="_blank">NUE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/THO" target="_blank">THO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/NXST " target="_blank">NXST </a><a href="https://roic.ai/company/ABC " target="_blank">ABC </a><a href="https://roic.ai/company/PPG " target="_blank">PPG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/RDN " target="_blank">RDN </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/COLD " target="_blank">COLD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6253f41981bad02de3f2175a/1649669145713/2022+Q1.pdf">Blue Tower Asset Management</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/04/1Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=2249">Miller/Howard Investments</a></td><td width="13%">4/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/04/Q1-2022-letter.pdf">Distillate Capital</a></td><td width="13%">4/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Core-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Micro-Cap-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/KRNT " target="_blank">KRNT </a><a href="https://roic.ai/company/PRPL " target="_blank">PRPL </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/HLLY " target="_blank">HLLY </a><a href="https://roic.ai/company/SLP" target="_blank">SLP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Value-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/KRNT " target="_blank">KRNT </a><a href="https://roic.ai/company/MEDP " target="_blank">MEDP </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/HQY " target="_blank">HQY </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/EEFT " target="_blank">EEFT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Value-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Ultra-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2022/04/2022-03-March-Investor-Update.pdf">LRT Capital</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/PSA " target="_blank">PSA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2022.pdf">L1 Capital Long Short Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/04/L1-Capital-International-March-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2022/">Oakmark Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/EFX " target="_blank">EFX </a><a href="https://roic.ai/company/GPN " target="_blank">GPN </a><a href="https://roic.ai/company/PINS " target="_blank">PINS </a><a href="https://roic.ai/company/PHM " target="_blank">PHM </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2022/">Oakmark Global Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/BAYRY " target="_blank">BAYRY </a><a href="https://roic.ai/company/GLNCY " target="_blank">GLNCY </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/GM " target="_blank">GM </a><a href="https://roic.ai/company/CS" target="_blank">CS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-quarter-2022/">Oakmark Global Select Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-first-quarter-2022/">Oakmark International Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2022/">Oakmark Select Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-first-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_2b058680f1c7435ea64a4f5bcfea20bb.pdf">Old West Capital Management</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/BG" target="_blank">BG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/625ac340cf3dfa42945771c0/1650115393148/Laughing+Water+Capital+Q1%2722.pdf">Laughing Water Capital</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/TACT " target="_blank">TACT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/04/HCM-Q1-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/NOTV " target="_blank">NOTV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/GRI.L" target="_blank">GRI.L</a><a href="https://roic.ai/company/DHI " target="_blank">DHI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/625d4cf5eef5817d8a32bae1/1650281718164/Upslope+-+2022Q1+Letter.pdf">Upslope Capital Management</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/BWXT " target="_blank">BWXT </a><a href="https://roic.ai/company/NSKFF " target="_blank">NSKFF </a><a href="https://roic.ai/company/CMGMF " target="_blank">CMGMF </a><a href="https://roic.ai/company/SLGN" target="_blank">SLGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/04/Akre-Focus-Fund-Quarterly-Commentary-2022-Q1.pdf#page=1">Akre Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/PLAN " target="_blank">PLAN </a><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/NEOG " target="_blank">NEOG </a><a href="https://roic.ai/company/CFLT " target="_blank">CFLT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/HQY " target="_blank">HQY </a><a href="https://roic.ai/company/CHX " target="_blank">CHX </a><a href="https://roic.ai/company/PDCE " target="_blank">PDCE </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/CRYX " target="_blank">CRYX </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/CRWD " target="_blank">CRWD </a><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/AMD " target="_blank">AMD </a><a href="https://roic.ai/company/NTRA" target="_blank">NTRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/APR " target="_blank">APR </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/SWIM" target="_blank">SWIM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/1q2022-commentary">Whitebrook Capital</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/q1-2022-letter-be-greedy-when-everyone-else-is-fearful">Rowan Street Capital</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/DOCU " target="_blank">DOCU </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-03.31.22.pdf">Baron Health Care Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/ANTM " target="_blank">ANTM </a><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/RHHBY" target="_blank">RHHBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-03.31.22.pdf">Baron Real Estate Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/MTN " target="_blank">MTN </a><a href="https://roic.ai/company/PSA " target="_blank">PSA </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/GDS " target="_blank">GDS </a><a href="https://roic.ai/company/LVS " target="_blank">LVS </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2022/04/PzenaNewsletter-Commentary-1Q22.pdf">Pzena Investment Management</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202112/Commentary-Small-Cap-Fund-2021-12-31.pdf?c=637860577560000000">Diamond Hill Small Cap Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/RHP " target="_blank">RHP </a><a href="https://roic.ai/company/ERII " target="_blank">ERII </a><a href="https://roic.ai/company/JOUT " target="_blank">JOUT </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-03.31.22.pdf">Baron Discovery Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/ACC " target="_blank">ACC </a><a href="https://roic.ai/company/AXON " target="_blank">AXON </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/first-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/GOOGL " target="_blank">GOOGL </a><a href="https://roic.ai/company/CMG " target="_blank">CMG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q1NP.pdf">Hoisington Investment Management</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1eWlvQ6bBGVUrfdlMLRdnD2SXg_k4BxHc/view">Greenlight Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/BHF " target="_blank">BHF </a><a href="https://roic.ai/company/INSW " target="_blank">INSW </a><a href="https://roic.ai/company/RYAAY " target="_blank">RYAAY </a><a href="https://roic.ai/company/SNX " target="_blank">SNX </a><a href="https://roic.ai/company/SWN " target="_blank">SWN </a><a href="https://roic.ai/company/WFRD" target="_blank">WFRD</a><a href="https://roic.ai/company/WFRD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/626419bdf119917020e60231/1650727357479/NZS+Capital+Q1+2022+Letter.pdf">NZS Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/1q22_scv_commentary.pdf">Bernzott Capital Advisors</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/HALO " target="_blank">HALO </a><a href="https://roic.ai/company/HCI " target="_blank">HCI </a><a href="https://roic.ai/company/MP " target="_blank">MP </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/VNOM " target="_blank">VNOM </a><a href="https://roic.ai/company/CMP" target="_blank">CMP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202203.pdf">Bronte Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/HLF" target="_blank">HLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/letters">Arch Capital Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/WIX" target="_blank">WIX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://okeefestevens.com/wp-content/uploads/2022/04/Q1-2022-Letter.pdf">O'Keefe Stevens</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/EAF " target="_blank">EAF </a><a href="https://roic.ai/company/NMRK " target="_blank">NMRK </a><a href="https://roic.ai/company/INTC " target="_blank">INTC </a><a href="https://roic.ai/company/DFIN " target="_blank">DFIN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.nelsoncap.com/2022/04/19/a-shift-to-value/">Nelson Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/1q/ARTKX-APDKX-APHKX-QCommentary-1Q22-vR.pdf">Artisan International Value Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/INGVF " target="_blank">INGVF </a><a href="https://roic.ai/company/DANOY " target="_blank">DANOY </a><a href="https://roic.ai/company/ACGL " target="_blank">ACGL </a><a href="https://roic.ai/company/ST " target="_blank">ST </a><a href="https://roic.ai/company/GRMN " target="_blank">GRMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/1q/ARTMX-APDMX-APHMX-QCommentary-1Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/WMS " target="_blank">WMS </a><a href="https://roic.ai/company/ZI " target="_blank">ZI </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/NVST " target="_blank">NVST </a><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/a-plethora-of-new-macro-trends/?nowprocket=1">Crestcat Capital</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q1.pdf">Alphyn Capital Management</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/NPSNY " target="_blank">NPSNY </a><a href="https://roic.ai/company/W" target="_blank">W</a><a href="https://roic.ai/company/W" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/62631820b0120447ae1bfd0d/1650661409058/Q1+2022+Letter.pdf">Curreen Capital</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/625f19fcdfe4601f6c548eac/1650399740156/GCAM+Q1+2022+letter.pdf">Giverny Capital Asset Management</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/FIVE " target="_blank">FIVE </a><a href="https://roic.ai/company/ERFSF " target="_blank">ERFSF </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/IBP " target="_blank">IBP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q1-2022-letter">Andvari Associates</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/TOITF" target="_blank">TOITF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/626308527b9928476cd4c91a/1650657362518/Nordstern+Capital+1Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/THQQF " target="_blank">THQQF </a><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/EVVTY " target="_blank">EVVTY </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/ARCH " target="_blank">ARCH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1651366770635">Miller Income Strategy</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/VALE " target="_blank">VALE </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/HRB " target="_blank">HRB </a><a href="https://roic.ai/company/SDIG " target="_blank">SDIG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1651366550692">Miller Opportunity Trust</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/OVV " target="_blank">OVV </a><a href="https://roic.ai/company/FANG " target="_blank">FANG </a><a href="https://roic.ai/company/CLF " target="_blank">CLF </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/HLF" target="_blank">HLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637868432950000000">Weitz Hickory Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/AZO" target="_blank">AZO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637868432950000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637868432950000000">Weitz Partners Value Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637868432950000000">Weitz Value Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/FB" target="_blank">FB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2022.pdf">Polen Capital - Global Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/ALGN" target="_blank">ALGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2022.pdf">Polen Capital - International Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2022/HL-EM-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Global Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/ROK " target="_blank">ROK </a><a href="https://roic.ai/company/SBGSY " target="_blank">SBGSY </a><a href="https://roic.ai/company/DE " target="_blank">DE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Cos-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/TCHBF " target="_blank">TCHBF </a><a href="https://roic.ai/company/KWS.L" target="_blank">KWS.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner International Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-Intl-Small-Cos-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/04/Epoch-Quarterly-Newsletter_April-2022.pdf">Epoch Investment Partners</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-03.31.22.pdf">Baron Asset Fund</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/EPAM " target="_blank">EPAM </a><a href="https://roic.ai/company/TFX " target="_blank">TFX </a><a href="https://roic.ai/company/CSGP " target="_blank">CSGP </a><a href="https://roic.ai/company/FICO" target="_blank">FICO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/626fcd2edf6cb02eb0e8d2e3/1651494191083/2022.Q1+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/NGMS " target="_blank">NGMS </a><a href="https://roic.ai/company/DSKE " target="_blank">DSKE </a><a href="https://roic.ai/company/XPEL" target="_blank">XPEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-03.31.22.pdf">Baron Small Cap Fund</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/PGNY " target="_blank">PGNY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2022/04/Greystone-Capital-Q1-2022-Letter.pdf">Greystone Capital Management</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/62701052a50f890241d6532e/1651511379503/1Q22+letter.pdf">Long Cast Advisers </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/DAIO" target="_blank">DAIO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/626fe5c78d02785e0c2d9450/1651500487422/Q1%2722+letter.pdf">1 Main Capital Partners</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/FIGS" target="_blank">FIGS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_54611dd9142d4b99bd5919ac79a27e36.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/AYI " target="_blank">AYI </a><a href="https://roic.ai/company/MMS " target="_blank">MMS </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/6263e168f5c19b0ca3ab9afd/1650712936941/Greenhaven+Road+%282022+Q1%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/TDOC " target="_blank">TDOC </a><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-1Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/TSM " target="_blank">TSM </a><a href="https://roic.ai/company/WZZAF " target="_blank">WZZAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-1Q2022.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/BMBL " target="_blank">BMBL </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/HLNE " target="_blank">HLNE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6271768f1b27f83c5c8e5b7c/1651603089351/Q1+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/QUCT " target="_blank">QUCT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q1-2022-Roundtable-Discussion-for-Website_FINAL.pdf">Horizon Kinetics</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-03.31.22.pdf">Baron FinTech Fund</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/EFX " target="_blank">EFX </a><a href="https://roic.ai/company/GLOB " target="_blank">GLOB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q1.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202022%20Final.pdf">Tweedy Browne</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/BZZUY " target="_blank">BZZUY </a><a href="https://roic.ai/company/KOYJF " target="_blank">KOYJF </a><a href="https://roic.ai/company/THO " target="_blank">THO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/36dbc4dd-55c3-16ab-a279-58bcc8775251/Steel_City_Capital_1Q_22_Partner_Letter.pdf">Steel City Capital</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/SCI " target="_blank">SCI </a><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/LILA " target="_blank">LILA </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/APM" target="_blank">APM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/Q1%202022%20Investor%20Letter%20-%20Final.pdf">Praetorian Capital </a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-commentary-2022-03.pdf?sfvrsn=b42909d_4">FPA Crescent Fund</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-qr-small-cap-value-fund-commentary-2022-q1.pdf?sfvrsn=8a4b909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2022-Q1-Aikya-letter.pdf">Aikya Funds</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1WM3rALdle5NhFgpyZF2jcNIXWe73VkYp/view">Tidefall Capital Management</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20220331.pdf">Rondure Global</a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlightcapital.com/saltlight-snn-worldwide-flexible-fund-investor-letter-1q22/">Saltlight Capital </a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/6282f5aca591b577f04a2bef/1652749741615/Bonsai+Partners+Fund+Q1+2022+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/ESTC" target="_blank">ESTC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://4043042.fs1.hubspotusercontent-na1.net/hubfs/4043042/Content%20Offers/2022.Q1%20Commentary/2022.Q1%20GR%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/_files/ugd/3b0d6d_28e86645644f4099b5b411a3025eaa0e.pdf">Saga Partners</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/RDFN " target="_blank">RDFN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1TAGBJGoJzWm4JG4ubsb4vXyV72RBenz3/view">Andaz Private Investments</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/05/DKAM-ROE-Reporter-April-2022-Final-.pdf">Donville Kent Asset Management</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/EHMEF " target="_blank">EHMEF </a><a href="https://roic.ai/company/GIVX.TO " target="_blank">GIVX.TO </a><a href="https://roic.ai/company/VHIBF " target="_blank">VHIBF </a><a href="https://roic.ai/company/CTSDF" target="_blank">CTSDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2022-Q1.pdf">Hayden Capital</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-q1.pdf?sfvrsn=7b4d909d_6">FPA U.S. Core Equity Fund</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/627182cef9390517a0bdfe5f/1651606222430/Maran+Partners+Fund+LP+2022+1Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/1Q22%20-%20FV.html">Bireme Capital</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/CGEAF " target="_blank">CGEAF </a><a href="https://roic.ai/company/FB" target="_blank">FB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/627419a4d25dbf262c894fbd/1651775908325/2022.Q1+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/CTTZF " target="_blank">CTTZF </a><a href="https://roic.ai/company/SMNEY " target="_blank">SMNEY </a><a href="https://roic.ai/company/LUCRF " target="_blank">LUCRF </a><a href="https://roic.ai/company/IVPAF " target="_blank">IVPAF </a><a href="https://roic.ai/company/AOIFF" target="_blank">AOIFF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=2cf5241e3e">Argosy Investors</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/VZIO " target="_blank">VZIO </a><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/IS" target="_blank">IS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-1q-2022-partner-letter-wl2T621Y">Artko Capital</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/GOED WS " target="_blank">GOED WS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">4th Quarter 2021</span>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/01/QUARTERLY-REPORT-December-2021-Web.pdf">East72 Holdings</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/ARKK" target="_blank">ARKK </a><a href="https://roic.ai/company/YBRHF" target="_blank">YBRHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_68_en.pdf">Vltava Fund</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/SBRCY " target="_blank">SBRCY </a><a href="https://roic.ai/company/BMWYY " target="_blank">BMWYY </a><a href="https://roic.ai/company/LH" target="_blank">LH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/61d3a86180af5560d2fc9f5e/1641261154076/Q42021.pdf">Comus Investments</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/01/STJIC-Adviser-Letter-2021-Q4.pdf">St. James Investment Company </a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_66728216a304405b84fd411d2f30a550.pdf">Palm Valley Capital Fund</a></td><td width="13%">1/09/2022</td><td width="39%"><a href="https://roic.ai/company/AGI " target="_blank">AGI </a><a href="https://roic.ai/company/DRQ " target="_blank">DRQ </a><a href="https://roic.ai/company/CRD-A " target="_blank">CRD-A </a><a href="https://roic.ai/company/WHGLY" target="_blank">WHGLY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/ec7645_e919e84dd8a844a18b04f9f24876b2fb.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">1/12/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20211231.pdf">FMI All Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20211231.pdf">FMI International Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20211231.pdf">FMI Large Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20211231.pdf">FMI Small Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/01/Akre-Focus-Fund-Quarterly-Commentary-2021-Q4.pdf#page=1">Akre Focus Fund</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">1/14/2022</td><td width="39%"><a href="https://roic.ai/company/TFX" target="_blank">TFX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">1/14/2022</td><td width="39%"><a href="https://roic.ai/company/TFX" target="_blank">TFX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q4-2021-letter">Andvari Associates</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/MA " target="_blank">MA </a><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/NOVT" target="_blank">NOVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-12.31.21.pdf">Baron Asset Fund</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-12.31.21.pdf">Baron Discovery Fund</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/BYD " target="_blank">BYD </a><a href="https://roic.ai/company/ENFN " target="_blank">ENFN </a><a href="https://roic.ai/company/BASE" target="_blank">BASE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_ff750f7afc8b4601a14ea1571b376bfc.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/TSCO " target="_blank">TSCO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-12.31.21.pdf">Baron Real Estate Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-12.31.21.pdf">Baron Health Care Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/AZN " target="_blank">AZN </a><a href="https://roic.ai/company/MCK " target="_blank">MCK </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/61df939be19b8f24cc253228/1642042267535/Q4+2021+Letter.pdf">Curreen Capital</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/AMD " target="_blank">AMD </a><a href="https://roic.ai/company/VCRA " target="_blank">VCRA </a><a href="https://roic.ai/company/BILL " target="_blank">BILL </a><a href="https://roic.ai/company/TASK " target="_blank">TASK </a><a href="https://roic.ai/company/BSY" target="_blank">BSY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/UPST " target="_blank">UPST </a><a href="https://roic.ai/company/MQ" target="_blank">MQ</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/SBNY " target="_blank">SBNY </a><a href="https://roic.ai/company/MEG " target="_blank">MEG </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/EVBG" target="_blank">EVBG</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q4.pdf">Alphyn Capital Management</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/OACB " target="_blank">OACB </a><a href="https://roic.ai/company/WANSF " target="_blank">WANSF </a><a href="https://roic.ai/company/W" target="_blank">W</a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2021/">Oakmark Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/WTW " target="_blank">WTW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2021/">Oakmark Global Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2021/">Oakmark Global Select Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-fourth-quarter-2021/">Oakmark International Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2021/">Oakmark Select Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/020149e8628527512acbfb43b/files/031c3cdc-d04b-09f3-5081-900e3c1555bd/Tollymore_letters_to_partners_Dec_2021.pdf">Tollymore Investment Partners</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/61e3d61d963af533b3d8f01c/1642321437303/2021+Q4.pdf">Blue Tower Asset Management</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/PPG" target="_blank">PPG </a><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/DLTR" target="_blank">DLTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/CCBG " target="_blank">CCBG </a><a href="https://roic.ai/company/PRGO " target="_blank">PRGO </a><a href="https://roic.ai/company/BRY " target="_blank">BRY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/TRS " target="_blank">TRS </a><a href="https://roic.ai/company/KN " target="_blank">KN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/CVS" target="_blank">CVS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/LOW " target="_blank">LOW </a><a href="https://roic.ai/company/BDX " target="_blank">BDX </a><a href="https://roic.ai/company/NVS " target="_blank">NVS </a><a href="https://roic.ai/company/FISV " target="_blank">FISV </a><a href="https://roic.ai/company/V" target="_blank">V </a><a href="https://roic.ai/company/BKI " target="_blank">BKI </a><a href="https://roic.ai/company/PH" target="_blank">PH</a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BKI " target="_blank">BKI </a><a href="https://roic.ai/company/MKSI " target="_blank">MKSI </a><a href="https://roic.ai/company/DLTR" target="_blank">DLTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/NEWR " target="_blank">NEWR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblecapital.com/wp-content/uploads/2022/01/ECM-Quarterly-Letter-4Q21.pdf">Ensemble Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BL " target="_blank">BL </a><a href="https://roic.ai/company/COST " target="_blank">COST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/61ddf8db43fdcd2d6b033b4b/1641937116559/NZS+Capital+Q4+2021+Letter.pdf">NZS Capital</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3117">Miller/Howard Investments</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/INV " target="_blank">INV </a><a href="https://roic.ai/company/CTT " target="_blank">CTT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BATRA " target="_blank">BATRA </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/FRPH " target="_blank">FRPH </a><a href="https://roic.ai/company/FPH " target="_blank">FPH </a><a href="https://roic.ai/company/IVT" target="_blank">IVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/01/Q4-2021-Letter.pdf">Distillate Capital</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_d59e5529852440a9a9ce67ff4be178ba.pdf">Old West Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/PINS " target="_blank">PINS </a><a href="https://roic.ai/company/TWTR " target="_blank">TWTR </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/SQ " target="_blank">SQ </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/SOFI " target="_blank">SOFI </a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_4Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/61e88024ea403840e2631912/1642627109448/Upslope+-+2021Q4+Letter.pdf">Upslope Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/MKTX " target="_blank">MKTX </a><a href="https://roic.ai/company/CASY" target="_blank">CASY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/01/Alluvial-Capital-Management-Q4-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/LICT " target="_blank">LICT </a><a href="https://roic.ai/company/CRAWA " target="_blank">CRAWA </a><a href="https://roic.ai/company/GTX " target="_blank">GTX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/TIMB " target="_blank">TIM.WSE</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/4q21_scv_commentary__final_.pdf">Bernzott Capital Advisors</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/WSC " target="_blank">WSC </a><a href="https://roic.ai/company/HI " target="_blank">HI </a><a href="https://roic.ai/company/UPLD " target="_blank">UPLD </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/JR" target="_blank">JRVR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/01/4Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/CPRI " target="_blank">CPRI </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/EVBG " target="_blank">EVBG </a><a href="https://roic.ai/company/GENI " target="_blank">GENI </a><a href="https://roic.ai/company/HSKA" target="_blank">HSKA</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/61e1a8df7c45833bf347b6e2/1642178783496/2021.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/GSL " target="_blank">GSL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2021.pdf">L1 Capital Long Short Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/01/L1-International-Fund-December-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/CRH" target="_blank">CRH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-12.31.21_1.pdf">Baron Small Cap Fund</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/SG" target="_blank">SG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-12.31.21.pdf">Baron Growth Fund</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/MIR " target="_blank">MIR </a><a href="https://roic.ai/company/SG " target="_blank">SG </a><a href="https://roic.ai/company/WRBY" target="_blank">WRBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-2021-year-end-letter">Rowan Street Capital</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/DOCU " target="_blank">DOCU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2021Q4NP.pdf">Hoisington Investment Management</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/4q2021-commentary">Whitebrook Capital</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_00e46e69dc984559a5f36c6ac0019842.pdf">Merion Road Capital</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/ATVI " target="_blank">ATVI </a><a href="https://roic.ai/company/LEAT " target="_blank">LEAT </a><a href="https://roic.ai/company/LNSR " target="_blank">LNSR </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/61ec866c184e8c17755464c9/1642890860567/Nordstern+Capital+4Q2021+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/STNE" target="_blank">STNE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DOCU" target="_blank">DOCU</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2021.pdf">Polen Capital - Global Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/ADSK " target="_blank">ADSK </a><a href="https://roic.ai/company/V" target="_blank">V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2021.pdf">Polen Capital - International Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTKX-APDKX-APHKX-QCommentary-4Q21-vR.pdf">Artisan International Value Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/WTW " target="_blank">WTW </a><a href="https://roic.ai/company/ASBFY" target="_blank">ASBFY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTMX-APDMX-APHMX-QCommentary-4Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTSX-APDSX-APHSX-QCommentary-4Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/IRTC " target="_blank">IRTC </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/WK " target="_blank">WK </a><a href="https://roic.ai/company/BIGC" target="_blank">BIGC</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTLX-APDLX-APHLX-QCommentary-4Q21-vR.pdf">Artisan Value Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/DIS" target="_blank">DIS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2022/01/PzenaNewsletter-Commentary-4Q21.pdf">Pzena Investment Management</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/61eb18135e28e93a1b989a12/1642797076632/GCAM+2021+Q4+letter+.pdf">Giverny Capital Asset Management</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202112/Commentary-Small-Cap-Fund-2021-12-31.pdf?c=637787374490000000">Diamond Hill Small Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/RHP " target="_blank">RHP </a><a href="https://roic.ai/company/ERII " target="_blank">ERII </a><a href="https://roic.ai/company/JOUT " target="_blank">JOUT </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/deep-value-strategy-4q21-letter/">Miller Deep Value</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/ENDP " target="_blank">ENDP </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/CNDT " target="_blank">CNDT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1643292697477">Miller Income Strategy</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/APO " target="_blank">APO </a><a href="https://roic.ai/company/SCU " target="_blank">SCU </a><a href="https://roic.ai/company/SBRCY " target="_blank">SBRCY </a><a href="https://roic.ai/company/OMF" target="_blank">OMF</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/opportunity-equity-4q21-letter/">Miller Opportunity Equity</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/TMHC " target="_blank">TMHC </a><a href="https://roic.ai/company/MTTR " target="_blank">MTTR </a><a href="https://roic.ai/company/FANG " target="_blank">FANG </a><a href="https://roic.ai/company/SFIX " target="_blank">SFIX </a><a href="https://roic.ai/company/SPLK " target="_blank">SPLK </a><a href="https://roic.ai/company/NCLH" target="_blank">NCLH</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/2021-Annual-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/NOTV " target="_blank">NOTV </a><a href="https://roic.ai/company/UFPT " target="_blank">UFPT </a><a href="https://roic.ai/company/UTMD" target="_blank">UTMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_01_18.pdf">Myrmikan Research</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637787358840000000">Weitz Hickory Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637787358840000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637787358840000000">Weitz Partners Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637787358840000000">Weitz Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1Nb2a7A-4S588IJtN5UVTb2Q_urhCnaNX/view">Greenlight Capital</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/BHF " target="_blank">BHF </a><a href="https://roic.ai/company/TECK " target="_blank">TECK </a><a href="https://roic.ai/company/DNMR " target="_blank">DNMR </a><a href="https://roic.ai/company/GPN " target="_blank">GPN </a><a href="https://roic.ai/company/CPRI " target="_blank">CPRI </a><a href="https://roic.ai/company/GLPG " target="_blank">GLPG </a><a href="https://roic.ai/company/ODP" target="_blank">ODP</a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/AMG " target="_blank">AMG </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/BIIB " target="_blank">BIIB </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/H " target="_blank">H </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/WMB " target="_blank">WMB </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/BIIB " target="_blank">BIIB </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CFRUY " target="_blank">CFRUY </a><a href="https://roic.ai/company/DPZ " target="_blank">DPZ </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CNX " target="_blank">CNX </a><a href="https://roic.ai/company/RLGY " target="_blank">RLGY </a><a href="https://roic.ai/company/MAT " target="_blank">MAT </a><a href="https://roic.ai/company/RNR " target="_blank">RNR </a><a href="https://roic.ai/company/IDRSF " target="_blank">IDRSF </a><a href="https://roic.ai/company/LNXSF " target="_blank">LNXSF </a><a href="https://roic.ai/company/KODK" target="_blank">KODK</a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202112.pdf">Bronte Capital</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/61e5e320b5857c262626e510/1642455841875/4Q21+letter.pdf">Long Cast Advisers </a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/AIMFF " target="_blank">AIMFF </a><a href="https://roic.ai/company/SNES " target="_blank">SNES </a><a href="https://roic.ai/company/SOTK " target="_blank">SOTK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/HL-EM-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CCHGY " target="_blank">CCHGY </a><a href="https://roic.ai/company/MGLUY " target="_blank">MGLUY </a><a href="https://roic.ai/company/XP " target="_blank">XP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/HL-Global-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Global Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/MELI" target="_blank">MELI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/HL-Global-Small-Cos-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/SLP " target="_blank">SLP </a><a href="https://roic.ai/company/ALTR " target="_blank">ALTR </a><a href="https://roic.ai/company/NEMTF " target="_blank">NEMTF </a><a href="https://roic.ai/company/ABMD" target="_blank">ABMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IADR/2021/HL-Intl-Equity-ADR-Quarterly-Report-4Q21.pdf">Harding Loevner International Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/HL-Intl-Small-Cos-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/MHSDF" target="_blank">MHSDF</a><a href="https://roic.ai/company/LZRFY " target="_blank">LZRFY </a><a href="https://roic.ai/company/VACNY " target="_blank">VACNY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2022/01/2021-12-December-Investor-Update.pdf">LRT Capital</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/WSO" target="_blank">WSO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_05e73048c3af46bfa6ed0f81e0f43a29.pdf">Arch Capital Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/SFM " target="_blank">SFM </a><a href="https://roic.ai/company/NNI " target="_blank">NNI </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/HRBR" target="_blank">HRBR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/825e7129-c367-9868-11ed-115b47c755b7/December_2021_Investor_Letter_The_Hidden_Taxvfin.pdf">Richie Capital Group</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/FREE " target="_blank">FREE </a><a href="https://roic.ai/company/AVGO " target="_blank">AVGO </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/ABT " target="_blank">ABT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/2022/01/15235630/Fundsmith-Equity-Funds-Q4-2021-Investor-Letter.pdf">Fundsmith Equity Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/MORN " target="_blank">MORN </a><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/OLLI " target="_blank">OLLI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/TRNS " target="_blank">TRNS </a><a href="https://roic.ai/company/NPTN " target="_blank">NPTN </a><a href="https://roic.ai/company/CCXI " target="_blank">CCXI </a><a href="https://roic.ai/company/MSGM " target="_blank">MSGM </a><a href="https://roic.ai/company/CSTL " target="_blank">CSTL </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/RDVT " target="_blank">RDVT </a><a href="https://roic.ai/company/BWMN " target="_blank">BWMN </a><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/ASPU " target="_blank">ASPU </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/TCDM " target="_blank">TCDM </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/BOOT " target="_blank">BOOT </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/MEDP " target="_blank">MEDP </a><a href="https://roic.ai/company/FRPT " target="_blank">FRPT </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/HQY" target="_blank">HQY</a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/CCXI " target="_blank">CCXI </a><a href="https://roic.ai/company/NVMI " target="_blank">NVMI </a><a href="https://roic.ai/company/FRPT " target="_blank">FRPT </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/CSTL" target="_blank">CSTL</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20211231.pdf">Rondure Global</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2021Q4.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Amana-Q4-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.turtlecreek.ca/wp-content/uploads/2022/01/Turtle-Creek-Quarterly-Commentary-2021-Q4.pdf">Turtle Creek</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=5ad662b014">Argosy Investors</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/LESL " target="_blank">LESL </a><a href="https://roic.ai/company/AGIL " target="_blank">AGIL </a><a href="https://roic.ai/company/CURV " target="_blank">CURV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://img1.wsimg.com/blobby/go/ee65fbd7-2d89-48b3-83e6-be9864c38c3b/downloads/2022%20Nitor%20Capital%20Management%20Annual%20Letter.pdf?ver=1643209078495">Nitor Capital</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/VST " target="_blank">VST </a><a href="https://roic.ai/company/CF " target="_blank">CF </a><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/61f4601ca0cc3227736bf76f/1643405340863/Greenhaven+Road+%282021+Q4%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/TDOC " target="_blank">TDOC </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/61f8b8cf6faed02fd91ec060/1643690191597/Q4+2021+Alta+Fox+Capital+Quarterly+Letter+-+final.pdf">Alta Fox Capital Management</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/IDT" target="_blank">IDT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/61f9cf7a3d4ef81723c5b357/1643761530528/Q4+2021+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/SODI " target="_blank">SODI </a><a href="https://roic.ai/company/PCHM " target="_blank">PCHM </a><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/WCRS" target="_blank">WCRS</a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/4Q21%20-%20FV.html">Bireme Capital</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/AFRM " target="_blank">AFRM </a><a href="https://roic.ai/company/TME " target="_blank">TME </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/02/HCM-Q4-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/CRNC" target="_blank">CRNC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-4Q2021.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/TME" target="_blank">TME</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary-4Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q4-Aikya-letter.pdf">Aikya Funds</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.firsteagle.com/FE-Global-Value-Team-Annual-Letter-2021_US">First Eagle Global Value</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/02/2021Q4-Commentary.pdf">Palm Capital</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/CRM" target="_blank">CRM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1KWg62-kXpSHzM2CGUzqlIA-6NFEERsOp/view">Andaz Private Investments</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/RKT " target="_blank">RKT </a><a href="https://roic.ai/company/XLNX " target="_blank">XLNX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/post/investor-letter-h2-2021">Saga Partners</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/RDFN" target="_blank">RDFN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/ypwx12sh2oxixmw/2021_CTG_InvestorLetter_III%20%28yr%20end%29.pdf?dl=0">Canterbury Tollgate</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/02/DKAM-ROE-Reporter-January-2022.pdf">Donville Kent Asset Management</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/NGMS " target="_blank">NGMS </a><a href="https://roic.ai/company/GIVX.TO" target="_blank">GIVX.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2022/02/Greystone-Capital-Q4-2021-Letter.pdf">Greystone Capital Management</a></td><td width="13%">2/07/2022</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/ID " target="_blank">ID </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/IDT" target="_blank">IDT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/84ecef49-45e5-424c-1d06-7450ff480952/Fourth_Quarter_2021_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="13%">2/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/62025b581b92b1229ea34236/1644321624479/Q4%2721+letter.pdf">1 Main Capital Partners</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/61f704c1f0e77848cc88879f/1643578562345/Maran+Partners+Fund+LP+2021+4Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/CDRE" target="_blank">CDRE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-12.31.21.pdf">Baron FinTech Fund</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/LPLA " target="_blank">LPLA </a><a href="https://roic.ai/company/EXFY" target="_blank">EXFY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-12.31.21.pdf">Baron Partners Fund</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1ckJEI9udIXZDWQ_jpwjUhnq1iTVWn0YI/view">Tidefall Capital Management</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/FFXDF" target="_blank">FFXDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2021.pdf">Evermore Global Value Fund</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmharbourcapital.com/files/PHC%20Letter%20Q4%202021-FINAL_EN.pdf">Palm Harbour Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/OCINF " target="_blank">OCINF </a><a href="https://roic.ai/company/GEAHF " target="_blank">GEAHF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/62050baea91a235dd67c8baa/1644497838872/Laughing+Water+Capital+YE+2021.pdf">Laughing Water Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/TACT" target="_blank">TACT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/caafeb57-9e30-8af0-e660-6464ae971825/Steel_City_Capital_4Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/GDOT " target="_blank">GDOT </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/SXC" target="_blank">SXC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202021%20Final.pdf">Tweedy Browne</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/VRTX " target="_blank">VRTX </a><a href="https://roic.ai/company/RBSFY " target="_blank">RBSFY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1NjbvXcjfNGinPg7Y3YySMQde4oN8gHjd/view">MPE Capital</a></td><td width="13%">2/11/2022</td><td width="39%"><a href="https://roic.ai/company/SQSP" target="_blank">SQSP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_d8d3433827ac482ea4648323a2e6ecdf.pdf">Emeth Value Capital</a></td><td width="13%">2/12/2022</td><td width="39%"><a href="https://roic.ai/company/BUR" target="_blank">BUR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://srk-capital.com/content_files/2022/02/SRK-Fund-H2-2021-Letter.pdf">SRK Capital</a></td><td width="13%">2/12/2022</td><td width="39%"><a href="https://roic.ai/company/HROW " target="_blank">HROW </a><a href="https://roic.ai/company/TTSH " target="_blank">TTSH </a><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/PYCFF " target="_blank">PYCFF </a><a href="https://roic.ai/company/RTMAF " target="_blank">RTMAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/mindset-value-cannabis-fund-year">Mindset Value Cannabis Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/VRNOF " target="_blank">VRNOF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fs.hubspotusercontent00.net/hubfs/6004402/Quarterly%20Letters/2021/2021%20Q4%20Investor%20Letter%20-%20Final.pdf">Praetorian Capital </a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/LEE " target="_blank">LEE </a><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q4-2021-Quarterly-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-12.31.21.pdf">Baron Opportunity Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/MRTX " target="_blank">MRTX </a><a href="https://roic.ai/company/CTV " target="_blank">CTV </a><a href="https://roic.ai/company/FIGS " target="_blank">FIGS </a><a href="https://roic.ai/company/SHOP" target="_blank">SHOP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SaltLight_Letter_4Q21.pdf">Saltlight Capital </a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q4.pdf?sfvrsn=ec17909d_6">FPA Crescent Fund</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/02/Epoch-Quarterly-Newsletter_January-2022.pdf">Epoch Investment Partners</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lucacap.com/_files/ugd/f50b59_1915e17451f345ce963f4a53ececbb78.pdf">Luca Capital</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q4.pdf">Hayden Capital</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/SE" target="_blank">SE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lyricalam.com/wp-content/uploads/2022/01/LAM-2021-U.S.-Review-letter-1.pdf">Lyrical Asset Management</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2021-annual-partner-letter-wBqTRnab">Artko Capital</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/GAIA " target="_blank">GAIA </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/NTIC " target="_blank">PBPB</a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2022/02/2021-Year-End-Commentary_FINAL.pdf">RGA Investment Advisors</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/SFIX " target="_blank">SFIX </a><a href="https://roic.ai/company/ROKU " target="_blank">ROKU </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/DBX " target="_blank">DBX </a><a href="https://roic.ai/company/TWTR " target="_blank">TWTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2022/02/bumbershoot-holdings-e28094-2022-2-feb-e28094-letter-to-partners-e28094-2021.pdf">Bumbershoot Holdings</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.broyhillasset.com/wp-content/uploads/2022/02/The-Broyhill-Letter-2021.Q4.pdf?ct=t(RSS_EMAIL_CAMPAIGN)&mc_cid=70cf4a1313&mc_eid=67cf7be10e">Broyhill Asset Management</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/CAR " target="_blank">CAR </a><a href="https://roic.ai/company/DLTR " target="_blank">DLTR </a><a href="https://roic.ai/company/MCK " target="_blank">MCK </a><a href="https://roic.ai/company/ABEV " target="_blank">ABEV </a><a href="https://roic.ai/company/BUD " target="_blank">BUD </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wormcapital.com/the-wormhole-source/q4-2021">Worm Capital</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2021-q4.pdf?sfvrsn=601e909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://taovalue.files.wordpress.com/2022/02/taovalue_2021_q4_final.pdf">Tao Value</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_4Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/TSCO " target="_blank">TSCO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Trust Funds</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/REZI " target="_blank">REZI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/621d8a9deabea5384d671d4b/1646103197454/2021+Q4_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/AVYA " target="_blank">AVYA </a><a href="https://roic.ai/company/OLN " target="_blank">OLN </a><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/MT " target="_blank">MT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/4b290b05-2ad7-5453-0d81-972ecbfe0df0/Rhizome_Partners_Q4_2021_Investor_Letter_Final_w_CP.pdf">Rhizome Partners</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/FRP " target="_blank">FRP </a><a href="https://roic.ai/company/HHC " target="_blank">HHC </a><a href="https://roic.ai/company/INDT " target="_blank">INDT </a><a href="https://roic.ai/company/CLPR" target="_blank">CLPR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2022/02/VVP-Annual-Letter-21.12.31.pdf">Vulcan Value Partners</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q4%20Commentary/2021.Q4%20GR%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<div><span style="font-size: large;"><br /></span></div><p></p><span style="font-size: large;">3rd Quarter 2021</span><br /><hr /><div><br /></div><div><br /></div><div>
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
</thead>
<tbody>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2021/10/QUARTERLY-REPORT-September-2021-WEB.pdf">East72 Holdings</a></td><td width="15%">10/08/2021</td><td width="39%">$ANSLY, $APPEF, $BOWX, $FRPH, $MAC, $LLC.AX</td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_67_en.pdf">Vltava Fund</a></td><td width="13%">10/08/2021</td><td width="39%">$WLTW</td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4518141/3rd%20Qtr%20Letter%20to%20Investors.pdf?__hstc=85836102.23c8f3e82a968957555abbebcad8e401.1633718563683.1633718563683.1633718563683.1&__hssc=85836102.1.1633718563684&__hsfp=2220563331&hsCtaTracking=f20d68ce-ba35-4ab5-8a9f-28c064d8d62e%7C38129298-76e6-4b80-827d-347d188cad6d">Massif Capital</a></td><td width="13%">10/08/2021</td><td width="39%">$SBLK</td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/10/HCM-Q3-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">10/08/2021</td><td width="39%">$SPSC, $FICO, $TRNS</td></tr>
<tr><td width="48%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_78696aa87a57428b8dc7e1d59a24f061.pdf">Palm Valley Capital Fund</a></td><td width="13%">10/09/2021</td><td width="39%">$THS, $TRFPF, $AMRK, $WHGLY</td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2021/10/STJIC-Adviser-Letter-2021-Q3-Final.pdf">St. James Investment Company </a></td><td width="13%">10/09/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/3bd743d8-12f8-fdff-fe90-0c8fbcc891da/September_2021_Investor_Letter_When_Everyone_is_in_Agreement_vfin.01.pdf">Richie Capital Group</a></td><td width="13%">10/11/2021</td><td width="39%">$FICO, $FREE, $INS, $MSCI</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/615770080d5db77b4d03451a/1633120265649/Q32021.pdf">Comus Investments</a></td><td width="13%">10/11/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6163cca8834694462ec5bf6c/1633930408143/2021+Q3.pdf">Blue Tower Asset Management</a></td><td width="13%">10/12/2021</td><td width="39%">$3723.T</td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_7edda3c956ef433dbbc1c1499ad03904.pdf">Wedgewood Partners</a></td><td width="13%">10/13/2021</td><td width="39%">$MSI, $UNH</td></tr>
<tr><td width="48%"><a href="https://dmzpartners.in/Documents/Files/DMZ-6993-DMZ-Partners-Semi-Annual-Letter-FY21-22.pdf">DMZ Partners</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210930.pdf">FMI All Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210930.pdf">FMI International Equity</a></td><td width="13%">10/14/2021</td><td width="39%">$RXLSF, $4403.T</td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210930.pdf">FMI Large Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210930.pdf">FMI Small Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%">$PCAR, $BRKB</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/616997337f463661f6409b2e/1634309939204/Q3+2021+Letter.pdf">Curreen Capital</a></td><td width="13%">10/15/2021</td><td width="39%">$JXN, $MIC</td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">10/15/2021</td><td width="39%">$RYAN, $CSGP</td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">10/15/2021</td><td width="39%">$BKR, $EOG</td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">10/15/2021</td><td width="39%">$AMZN, $ADI, $PPG, $TEL</td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/60e7cf14d93aeb546a13eaf3/1625804565827/Quarterly+Letter+-+Q3+2020.pdf">Worm Capital</a></td><td width="13%">10/16/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_70053807908848a9826c9af71f82c210.pdf">Merion Road Capital</a></td><td width="13%">10/16/2021</td><td width="39%">$BLDR, $RCKY</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/3Q21-Mid-Cap-Comm">Heartland Mid Cap Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$CBOE, $EXC, $SPB</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/3Q21-Value-Fund-Comm">Heartland Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$CVLG, $BBBY, $BRY</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/3Q21-VP-Comm">Heartland Value Plus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$POR, $FCFS, $HAE</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$INMD, $GXO, $UPST, $RNLX, $GENI, $PINS</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$RGEN, $MPWR, $PAYC, $CDNA, $SHAK, $NVRO</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$UPST, $GOOG, $MSFT, $ROKU, $PINS, $PYPL</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$UPST, $PCTY, $GLOB, $OLLI, $NVRO, $CLB</td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/3Q21-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$NTOV, $ELMD</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-letter-9.30.21.pdf">Baron Growth Fund</a></td><td width="13%">10/17/2021</td><td width="39%">$VLD, $DNUT, $SMRT</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-9.30.21.pdf">Baron Real Estate Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-9.30.21.pdf">Baron Health Care Fund</a></td><td width="13%">10/17/2021</td><td width="39%">$NTRA, $GDRX, $MRTX, $STVN</td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2021/">Oakmark Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2021/">Oakmark Global Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-third-quarter-2021/">Oakmark Global Select Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-third-quarter-2021/">Oakmark International Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-third-quarter-2021/">Oakmark International Small Cap Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2021/">Oakmark Select Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3091">Miller/Howard Investments</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/616748eb5c9562698ee55a81/1634158828217/NZS+Capital+Q3+2021+Letter+Final.pdf">NZS Capital</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$APTS, $WARFY, $</td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$MSGE</td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$BMWYY, $DDAIF, $BKRIF, $DB, $CSFFF, $LUNMF</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/616d53174eca1923cfcd5120/1634554647983/Upslope+-+2021Q3+Letter.pdf">Upslope Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$TCHBF, $BWXT</td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-q3-2021-letter">Rowan Street Capital</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_ee97904c9eeb422b94eafdc01a59a79d.pdf">Old West Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$FLGT</td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2021/10/Q3-2021-Letter.pdf">Distillate Capital</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q3.pdf">Alphyn Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$PSTH, $CSPLF, $CRSS, $CFX, $NPSNY, $PROSY, $TCEHY</td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/third-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="13%">10/20/2021</td><td width="39%">$BKNG, $LSTR</td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2021/10/3Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">10/20/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_09_30_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="13%">10/20/2021</td><td width="39%">$ATIP, $VNOM</td></tr>
<tr><td width="48%"><a href="https://www.docdroid.net/IwyWM87/qlet2021-03-3-1-1-pdf">Greenlight Capital</a></td><td width="13%">10/20/2021</td><td width="39%">$GRBK, $BHF, $CSPLF $SONO</td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$DISCK</td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$RNR</td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2021Q3NP.pdf">Hoisington Investment Management</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/3q2021-commentary">Whitebrook Capital</a></td><td width="13%">10/21/2021</td><td width="39%">$QRTEA</td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2021/10/L1-International-Fund-Sep-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$TXN</td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2021.pdf">L1 Capital Long Short Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q3-CVALUE-Review_FINAL-1.pdf">Horizon Kinetics</a></td><td width="13%">10/23/2021</td><td width="39%">$LNG, $TPL</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-letter-9.30.21.pdf">Baron Discovery Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$BASE, $SMRT, $MCG, $FORG, $QLYS</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-9.30.21.pdf">Baron Asset Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$HUBS</td></tr>
<tr><td width="48%"><a href="https://arisaig.com/wp-content/uploads/2021/10/Arisaig-Quarterly-October-2021.pdf">Arisaig Partners</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/6171ac247c6fe3670903e719/1634839592319/Kinsman+Oak+-+Q3+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$RICK</td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="13%">10/23/2021</td><td width="39%">$ABNB</td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2021.pdf">Polen Capital - Global Growth</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2021.pdf">Polen Capital - International Growth</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202109.pdf">Bronte Capital</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q3-Aikya-letter-Investment-Update-Autumn-2021.pdf">Aikya Funds</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2021_10_15.pdf">Myrmikan Research</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/september-performance-estimates/">Crestcat Capital</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2021/10/PzenaNewsletter-Commentary-3Q21-1.pdf">Pzena Investment Management</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202109/Commentary-Small-Cap-Fund-2021-09-30.pdf?c=637705371690000000">Diamond Hill Small Cap Fund</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2021/10/Akre-Focus-Fund-Quarterly-Commentary-2021-Q3.pdf#page=1">Akre Focus Fund</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20210930.pdf">Rondure Global</a></td><td width="13%">10/23/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTMX-APDMX-APHMX-QCommentary-3Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/NEO " target="_blank">NEO </a><a href="https://roic.ai/company/MQ " target="_blank">MQ </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/CDAY " target="_blank">CDAY </a><a href="https://roic.ai/company/ENTG" target="_blank">ENTG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTKX-APDKX-APHKX-QCommentary-3Q21-vR.pdf">Artisan International Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637705452170000000">Weitz Hickory Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637705452170000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637705452170000000">Weitz Partners Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637705452170000000">Weitz Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/6170313de7824974acd905cb/1634742589280/GCAM+Q3-2021+letter.pdf">Giverny Capital Asset Management</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/IIVI" target="_blank">IIVI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=0a903ea1f5">Argosy Investors</a></td><td width="13%">10/25/2021</td><td width="39%"><a href="https://roic.ai/company/DFH " target="_blank">DFH </a><a href="https://roic.ai/company/GO " target="_blank">GO </a><a href="https://roic.ai/company/RRTS " target="_blank">RRTS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd315918c-9729-4e3e-98ca-aac08ad53229_1928x2494.png">Tidefall Capital Management</a></td><td width="13%">10/25/2021</td><td width="39%"><a href="https://roic.ai/company/FRFHF" target="_blank">FRFHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">10/26/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-3Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">10/26/2021</td><td width="39%"><a href="https://roic.ai/company/OLO" target="_blank">OLO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://taovalue.files.wordpress.com/2021/10/taovalue_2021_q3_final.pdf">Tao Value</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/RBLX" target="_blank">RBLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/617c36009692b75c50af7c04/1635530240599/Q3+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_GlobalValueTeam_Commentary.pdf">First Eagle Global Value</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/10/VVP-Quarterly-Letter-21.09.30.pdf">Vulcan Value Partners</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/LRCX " target="_blank">LRCX </a><a href="https://roic.ai/company/UPST " target="_blank">UPST </a><a href="https://roic.ai/company/AMAT" target="_blank">AMAT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q3.pdf?sfvrsn=f7db919d_6">FPA Crescent Fund</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1635549282596">Miller Opportunity Equity</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/GM " target="_blank">GM </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/MTTR " target="_blank">MTTR </a><a href="https://roic.ai/company/WW " target="_blank">WW </a><a href="https://roic.ai/company/VRM " target="_blank">VRM </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1635549972885">Miller Income Strategy</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/VALE " target="_blank">VALE </a><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/10/2021-09-September-Investor-Update.pdf">LRT Capital</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/TSCO" target="_blank">TSCO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_3a862abe12ef49a3a6ed24ad0e544622.pdf">Luca Capital</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/10/Greystone-Capital-Q3-2021-Letter.pdf">Greystone Capital Management</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2021/10/Epoch-Quarterly-Newsletter_October-2021.pdf">Epoch Investment Partners</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/DXCM " target="_blank">DXCM </a><a href="https://roic.ai/company/SNOW " target="_blank">SNOW </a><a href="https://roic.ai/company/TWLO " target="_blank">TWLO </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/EXAS " target="_blank">EXAS </a><a href="https://roic.ai/company/ZG " target="_blank">ZG </a><a href="https://roic.ai/company/SOFI" target="_blank">SOFI</a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_3Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/617ebf28a5fcd26d065ed9a0/1635696424780/Maran+Partners+Fund+LP+2021+3Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/CLAR " target="_blank">CLAR </a><a href="https://roic.ai/company/TPB " target="_blank">TPB </a><a href="https://roic.ai/company/CRSS " target="_blank">CRSS </a><a href="https://roic.ai/company/AOUT" target="_blank">AOUT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/3Q21%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/BOIVF " target="_blank">BOIVF </a><a href="https://roic.ai/company/ORI " target="_blank">ORI </a><a href="https://roic.ai/company/IMBBY" target="_blank">IMBBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/617e856ac0c880691233af57/1635681642905/Q3%2721+letter.pdf">1 Main Capital Partners</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/LMB " target="_blank">LMB </a><a href="https://roic.ai/company/ATIP " target="_blank">ATIP </a><a href="https://roic.ai/company/GREE" target="_blank">GREE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/when-do-you-reevaluate-an-investment">Mindset Value Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q3-2021-letter">Andvari Associates</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/CHE" target="_blank">CHE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-9.30.21.pdf">Baron FinTech Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/WPLCF " target="_blank">WPLCF </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/TOST" target="_blank">TOST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.21.pdf">Baron Partners Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-3Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-3Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-3Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/STAEF " target="_blank">STAEF </a><a href="https://roic.ai/company/ST " target="_blank">ST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-3Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-3Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/10/Alluvial-Capital-Management-Q3-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/CRAWA " target="_blank">CRAWA </a><a href="https://roic.ai/company/LICT " target="_blank">LICT </a><a href="https://roic.ai/company/NUVR " target="_blank">NUVR </a><a href="https://roic.ai/company/WHLR " target="_blank">WHLR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/617c5f708ab5754dbc9ae419/1635540848533/Greenhaven+Road+%282021+Q3%29+Quarterly+Letter%5B21%5D.pdf">Greenhaven Road Capital</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/MKTW" target="_blank">MKTW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2021/11/Q32021-Investment-Commentary_Looking-inward-and-looking-westward.pdf">RGA Investment Advisors</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/KW" target="_blank">KW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2021/11/DKAM-ROE-Reporter-October-2021.pdf">Donville Kent Asset Management</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/PRL.TO " target="_blank">PRL.TO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static.seekingalpha.com/uploads/sa_presentations/847/75847/original.pdf">Tollymore Investment Partners</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/NXGPY " target="_blank">NXGPY </a><a href="https://roic.ai/company/HLFFF " target="_blank">HLFFF </a><a href="https://roic.ai/company/RDBBF" target="_blank">RDBBF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/bec99160-9175-6415-695f-c1f64e5e646e/Steel_City_Capital_3Q_21_Partner_Letter.pdf">Steel City Capital</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/SIGA" target="_blank">SIGA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_3Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="13%">11/04/2021</td><td width="39%"><a href="https://roic.ai/company/MSI " target="_blank">MSI </a><a href="https://roic.ai/company/UNH" target="_blank">UNH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/APFDX-APDDX-APHDX-QCommentary-3Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTSX-APDSX-APHSX-QCommentary-3Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/COMP " target="_blank">COMP </a><a href="https://roic.ai/company/SI " target="_blank">SI </a><a href="https://roic.ai/company/TWOU " target="_blank">TWOU </a><a href="https://roic.ai/company/BTRS " target="_blank">BTRS </a><a href="https://roic.ai/company/OLO" target="_blank">OLO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTLX-APDLX-APHLX-QCommentary-3Q21-vR.pdf">Artisan Value Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Sustainable-Q3-2021-web.pdf">Saturna Capital</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Amana-Q3-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Sextant-Q3-20210930-web.pdf">Saturna Capital - Sextant Funds</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6186d96995befe0544bc22e2/1636227434790/Q3+2021+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/PCHM " target="_blank">PCHM </a><a href="https://roic.ai/company/NNUP" target="_blank">NNUP </a><a href="https://roic.ai/company/DBMG" target="_blank">DBMG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-9.30.21.pdf">Baron Opportunity Fund</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/NRDY " target="_blank">NRDY </a><a href="https://roic.ai/company/TOST " target="_blank">TOST </a><a href="https://roic.ai/company/CDAY" target="_blank">CDAY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-9.30.21.pdf">Baron Small Cap Fund</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/MCG " target="_blank">MCG </a><a href="https://roic.ai/company/SMRT " target="_blank">SMRT </a><a href="https://roic.ai/company/HLLY" target="_blank">HLLY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-3q-2021-partner-letter-w0DTgJKY">Artko Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/HQI" target="_blank">HQI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q3.pdf">Hayden Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/COIN " target="_blank">COIN </a><a href="https://roic.ai/company/ZLPSF" target="_blank">ZLPSF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202021%20Final.pdf">Tweedy Browne</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/hrj7145nzxqor9u/2021_CTG_InvestorLetter_II.pdf?dl=0">Canterbury Tollgate</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1M9lcgQF8GuavsFmPSmyEwmuGqHQekh3t/view">Andaz Private Investments</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.riveroakcapital.se/docs/2021H1-ShareholderLetter-RiverOakCapitalAB.pdf">River Oak Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2021/11/2021Q3-Commentary.pdf">Palm Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/618c1c08863e5466ef40eb3b/1636572168864/3Q21+Final.pdf">Long Cast Advisers </a></td><td width="13%">11/22/2021</td><td width="39%"><a href="https://roic.ai/company/SANW " target="_blank">SANW </a><a href="https://roic.ai/company/PDEX " target="_blank">PDEX </a><a href="https://roic.ai/company/CTEK " target="_blank">CTEK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2021-q3.pdf?sfvrsn=8cde919d_10">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">11/22/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2021/11/2021-Q3-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/FARM " target="_blank">FARM </a><a href="https://roic.ai/company/INVE " target="_blank">INVE </a><a href="https://roic.ai/company/GMS " target="_blank">GMS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/">Ariel Trust Funds</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/BIDU " target="_blank">BIDU </a><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/GNTX" target="_blank">GNTX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.gwinvestors.com/wp-content/uploads/2021.11.23-Q3-Letter-Defense-Offense-Conviction-v4-Clean.pdf">GreenWood Investors</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-3Q21.pdf">Horos Funds</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q3%20Commentary/2021.Q3%20GR_Market_Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SaltLight_Investor_Letter_3Q21.pdf">Saltlight Capital </a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/619ea3551952ea74563e6b13/1637786454976/2021+Q3_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">12/14/2021</td><td width="39%"><a href="https://roic.ai/company/SWIR " target="_blank">SWIR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.turtlecreek.ca/wp-content/uploads/2021/11/Turtle-Creek-Quarterly-Commentary-2021-Q3.pdf">Turtle Creek</a></td><td width="13%">12/14/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<hr /><span style="font-size: large;">2nd Quarter 2021</span><br /><hr /><br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/07/STJIC-Adviser-Letter-2021-Q2-Final.pdf">St. James Investment Company </a></td><td width="15%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://east72.com.au/wp-content/uploads/2021/07/QUARTERLY-REPORT-June-2021-WEB.pdf">East72 Holdings</a></td><td width="10%">7/14/2021</td><td width="40%">$NAM.AX, $SZL.AX</td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_65_en.pdf">Vltava Fund</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/07/HCM-Q2-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="10%">7/14/2021</td><td width="40%">$ABCM</td></tr>
<tr><td width="50%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q2.pdf">Alphyn Capital Management</a></td><td width="10%">7/14/2021</td><td width="40%">$CRSS, $VMEO</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/60e104d88cf4a87ec6121191/1625359578136/Q22021.pdf">Comus Investments</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210630.pdf">FMI All Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210630.pdf">FMI International Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210630.pdf">FMI Large Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210630.pdf">FMI Small Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_a7010caa73484aa79860d446dfa072a3.pdf">Wedgewood Partners</a></td><td width="10%">7/14/2021</td><td width="40%">$CDW, $CPRT, $TSM</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">7/15/2021</td><td width="40%">$PROSY, $0200.HK</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_8c46c9c6e9d44d60a516d5174bda2794.pdf">Palm Valley Capital Fund</a></td><td width="10%">7/15/2021</td><td width="40%">$COG, $VWTR</td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/17j-cxhXk7CoZMnur9D3PlEstPJoENtoL/view">MPE Capital</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/60eef4cdf2ccfc444305a495/1626272975590/Worm+Capital+-+Q2+2021+Letter.pdf?utm_medium=email&_hsmi=140441214&_hsenc=p2ANqtz-8vBjMBZwyJR_miVrb6tu4LVmeAcMcRMU8xdNYgyNu-KeNGt9qPTyZaf3IvsTwE__LIbUSRxAbF9cgwLhcKJEe38NWRBw&utm_content=140441214&utm_source=hs_email">Worm Capital</a></td><td width="10%">7/17/2021</td><td width="40%">$ABNB, $SHOP, $TSLA</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/37ed0e4e-201e-3501-874f-69ad3236db36/June_2021_Investor_Letter_There_s_a_Playbook_for_That.pdf">Richie Capital Group</a></td><td width="10%">7/17/2021</td><td width="40%">$INS, $MKTX, $VMD, $TTD, $ADBE</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-june-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q2-letter-latent-value">Andvari Associates</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_2Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$NET, $BSY, $HUBS, $DKNG, $MGNI, $DISCK</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$PGNY, $CLB, $FSV, $EAR, $CHGG, $NEO</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$STRS, $FNMA</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2021/07/2Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_afba319ad48349ba9cf0f4bc1b4a9e21.pdf">Old West Capital Management</a></td><td width="10%">7/17/2021</td><td width="40%">$RFL, $URPTF</td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/07/Q2-2021-Letter.pdf">Distillate Capital</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.nelsoncapitalmgmt.com/wp-content/uploads/2021/07/2021-Q2-Nelson-Capital-Quarterly-Commentary.pdf">Nelson Capital</a></td><td width="10%">7/18/2021</td><td width="40%">$BKNG</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.21.pdf">Baron Health Care Fund</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.21.pdf">Baron Real Estate Fund</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$PPG, $FCFS, $DGX</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$MNR, $PDCO, $BBBY</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$DRQ, $AVNS, $FCFS</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/60ec92eef91837287388095f/1626116847850/NZS+Capital+Q2+2021+Letter.pdf">NZS Capital</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202Q2021%20Letter%20to%20Investors.pdf?__hstc=85836102.15f20432e0ea5dec955a13ff3d6a419d.1626639822446.1626639822446.1626639822446.1&__hssc=85836102.2.1626639822448&__hsfp=430853256&hsCtaTracking=58fc37ba-5f5d-410d-b210-865e3d2529e2%7C48fcdb2e-21a4-4454-83b8-dc7e654a0bcf">Massif Capital</a></td><td width="10%">7/18/2021</td><td width="40%">$ADMLF, $EQX, $AOIFF, $EQNR</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=2249">Miller/Howard Investments</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$AFL</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$BD, $DLTR, $PCAR, $PGR</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$CNNE, $PCAR</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_06_30_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="10%">7/20/2021</td><td width="40%">$ADTN, $ATSG, $GVA, $JRVR</td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/2q2021-commentary">Whitebrook Capital</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_8d85a47df4ac4bb28f307921fcd64961.pdf">Merion Road Capital</a></td><td width="10%">7/20/2021</td><td width="40%">$FLXS</td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/07/Arisaig-Quarterly-July-2021.pdf">Arisaig Partners</a></td><td width="10%">7/20/2021</td><td width="40%">$ARCE</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2021Q2NP.pdf">Hoisington Investment Management</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://l1international.com/wp-content/uploads/2021/07/L1-International-Fund-June-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$GPK</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/60f5143e81f38b20589bb696/1626674238831/2021+Q2.pdf">Blue Tower Asset Management</a></td><td width="10%">7/20/2021</td><td width="40%">$CNR, $TCS.L</td></tr>
<tr><td width="50%"><a href="https://tidefall.substack.com/p/q2-2021-letter">Tidefall Capital Management</a></td><td width="10%">7/20/2021</td><td width="40%">$FB</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/60f7ad8a3fe7684a17b9ef61/1626844555719/Q2+2021Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="10%">7/22/2021</td><td width="40%">$CCUR $YSACU $GOED $MGAG $SODI $PCOA $ASTR $DBMG $PCHM $NNUP</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/60f6f873da228c63e37549b6/1626798195865/Kinsman+Oak+-+Q2+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/07/VVP-Quarterly-Letter-21.06.30.pdf">Vulcan Value Partners</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2021.pdf">Polen Capital - Global Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2021.pdf">Polen Capital - International Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/1766ad27-75c5-d3bf-a347-f467d6f0f302/Steel_City_Capital_2Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="10%">7/22/2021</td><td width="40%">$ATEX, $NEWSA, $LSYN, $SIGA, $TRUP</td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/second-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$NTDOY, $ILMN</td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_93a7743bb3f24198a2d79dad4efa8a48.pdf">Spree Capital</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2021/">Oakmark Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2021/">Oakmark Global Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$THC, $INCZY</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-quarter-2021/">Oakmark Global Select Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-quarter-2021/">Oakmark International Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2021/">Oakmark Select Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$ALSN</td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q2-CVALUE-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="10%">7/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/60fa220c811d9973fb0f68e0/1627005453234/Maran+Partners+Fund+LP+2021+2Q+Letter.pdf">Maran Capital Management</a></td><td width="10%">7/24/2021</td><td width="40%">$CRSS, $CTT.PT, $CLAR, $PCYO</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202106.pdf">Bronte Capital</a></td><td width="10%">7/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.21.pdf">Baron Asset Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$AVLR</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.21.pdf">Baron Growth Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$ZY</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Quarterly-Letter-6.30.21.pdf">Baron Small Cap Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$JBI, $FA</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/60fb1f431155b25f3e6e24a3/1627070275338/Laughing+Water+Capital+H1+2021.pdf">Laughing Water Capital</a></td><td width="10%">7/25/2021</td><td width="40%">$AIMFF, $TACT, $THRY</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/60fbe987b6530a7c47398e53/1627122055845/Q2%2721+letter.pdf">1 Main Capital Partners</a></td><td width="10%">7/25/2021</td><td width="40%">$MHH, $ATIP.WS, $LMB</td></tr>
<tr><td width="50%"><a href="https://www.dropbox.com/s/01e8amkocdrjjai/Voss%20Value%20Fund%20Q2%202021%20Letter.pdf?dl=0">Voss Capital</a></td><td width="10%">7/25/2021</td><td width="40%">$IMXI, $ECNCF</td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/07/Greystone-Capital-Q2-2021-Letter-1.pdf">Greystone Capital Management</a></td><td width="10%">7/25/2021</td><td width="40%">$HOME, $THBRF</td></tr>
<tr><td width="50%"><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_39ad74e8a82d44d0bdcf9529b65981f7.pdf">Emeth Value Capital</a></td><td width="10%">7/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/2Q21-Investor-Letter-.pdf">Summers Value Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTKX-APDKX-APHKX-QCommentary-2Q21-vR.pdf">Artisan International Value Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTMX-APDMX-APHMX-QCommentary-2Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$LPLA, $ENTG, $WMS, $HUBS, $GMAB</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTSX-APDSX-APHSX-QCommentary-2Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$OLO, $WK, $EB, $WMS, $VMI, $BIGC</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-6.30.21.pdf">Baron Opportunity Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$EDR, $INDI, $RNG, $TEAM, $SOFI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-6.30.21.pdf">Baron Partners Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-6.30.21.pdf">Baron FinTech Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$DLO, $MQ, $SOFI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-6.30.21.pdf">Baron Discovery Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$JBGS, $DV, $INDI, $ALKT, $PING, $ZY, $OLK, $RXRX</td></tr>
<tr><td width="50%"><a href="https://www.akrefund.com/wp-content/uploads/2021/07/Akre-Focus-Fund-Quarterly-Commentary-2021-Q2.pdf">Akre Focus Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/07/Epoch-Quarterly-Newsletter_July-2021.pdf">Epoch Investment Partners</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/07/Qlet2021-02-1.pdf">Greenlight Capital</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-2Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202106/Commentary-Small-Cap-Fund-2021-06-30.pdf?c=637629261700000000">Diamond Hill Small Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/07/Alluvial-Capital-Management-Q2-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="10%">7/28/2021</td><td width="40%">$GTX, $PIOE, $CRSS, $TPRP</td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=b8f98eac91">Argosy Investors</a></td><td width="10%">7/28/2021</td><td width="40%">$FERG, $ARLO, $VZIO</td></tr>
<tr><td width="50%"><a href="https://static.seekingalpha.com/uploads/sa_presentations/620/71620/original.pdf">JDP Capital Management</a></td><td width="10%">7/29/2021</td><td width="40%">$SPOT, $ROKU, $DRTT, $INVVY, $STNE</td></tr>
<tr><td width="50%"><a href="https://boyarvaluegroup.com/bvg-pdf/2Q_2021_BVG.pdf">Boyar Value Group</a></td><td width="10%">7/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/60f5db77fc97a93375260820/1626725239450/2Q21+Letter.pdf">Long Cast Advisers </a></td><td width="10%">7/29/2021</td><td width="40%">$QRHC</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637632664960000000">Weitz Hickory Fund</a></td><td width="10%">7/31/2021</td><td width="40%">$MKTX, $DNB</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637632664960000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637632664960000000">Weitz Partners Value Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637632664960000000">Weitz Value Fund</a></td><td width="10%">7/31/2021</td><td width="40%">$ROP</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/60edefe81f6a951228719afb/1626206185704/GCAM+Q2+2021+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">7/31/2021</td><td width="40%">$ACOPF, $ATHM, $KMX</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/610450a3423d6c305d644531/1627672739392/Q2+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/07/DKAM-ROE-Reporter-July-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">7/31/2021</td><td width="40%">$PLCKF, $NOW.V</td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf">First Eagle Global Value</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rowanstreet.com/post/rowan-street-h1-2021-letter">Rowan Street Capital</a></td><td width="10%">7/31/2021</td><td width="40%">$SPOT, $FB</td></tr>
<tr><td width="50%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q2.pdf?sfvrsn=9d9e919d_4">FPA Crescent Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_07_12.pdf">Myrmikan Research</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2021.pdf">L1 Capital Long Short Fund</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q2-Aikya-Letter.pdf">Aikya Funds</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q21.pdf">Horos Funds</a></td><td width="10%">8/10/2021</td><td width="40%">$SUHJY, $MBI</td></tr>
<tr><td width="50%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202021%20-%20Final.pdf">Tweedy Browne</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/60f5682aac77840235833ab0/1626695723048/Upslope+-+2021Q2+Letter.pdf">Upslope Capital Management</a></td><td width="10%">8/10/2021</td><td width="40%">$MKTX, $ENV</td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/july-research-letter-not-your-mothers-inflation/">Crestcat Capital</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/staying-the-course-inflation-and-value-investing/">Pzena Investment Management</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/08/06/investor-letter-2021-q2/">Tao Value</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdpointlimited.com/wp-content/uploads/2021/08/Third-Point-Q2-2021-Investor-Letter-TPIL.pdf">Third Point</a></td><td width="10%">8/10/2021</td><td width="40%">$RH, $DIS</td></tr>
<tr><td width="50%"><a href="https://www.rgaia.com/wp-content/uploads/2021/08/Q2-2021-Investment-Commentary_Final.pdf">RGA Investment Advisors</a></td><td width="10%">8/10/2021</td><td width="40%">$SFIX</td></tr>
<tr><td width="50%"><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_41dd99dced82438a8be6619d79aa814d.pdf">Luca Capital</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1628686646354">Miller Income Strategy</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1628686579058">Miller Opportunity Equity</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q2%20Commentary/2021.Q2%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/APFDX-APDDX-APHDX-QCommentary-2Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTLX-APDLX-APHLX-QCommentary-2Q21-vR.pdf">Artisan Value Fund</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2q-2021-partner-letter-XzMTMlk1">Artko Capital</a></td><td width="10%">8/23/2021</td><td width="40%">$GLBI, $CURN</td></tr>
<tr><td width="50%"><a href="https://choice-equities.com/wp-content/uploads/2021/08/2021-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="10%">8/23/2021</td><td width="40%">$INVE</td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/07/2021-06-June-Investor-Update.pdf">LRT Capital</a></td><td width="10%">8/23/2021</td><td width="40%">$DPZ, $SCL, $MAR, $NVO, $RGEN, $HXL, $WSO, $TPL, $CIGI, $TFII</td></tr>
<tr><td width="50%"><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_88277daf3c064730b1a221d3605374cd.pdf">Saga Partners</a></td><td width="10%">8/23/2021</td><td width="40%">$GDRX</td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-2Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-2Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-2Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-2Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-2Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.appleseedfund.com/wp-content/uploads/2021/08/APPLX-2021-Q3-Letter.pdf">Appleseed Fund</a></td><td width="10%">8/28/2021</td><td width="40%">$HLF, $BOWFF, $ALL, $NPSNY</td></tr>
<tr><td width="50%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/">Ariel Trust Funds</a></td><td width="10%">8/28/2021</td><td width="40%">$ADT, $BOKF, $MDP</td></tr>
<tr><td width="50%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20210630.pdf">Rondure Global</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_2Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="10%">8/28/2021</td><td width="40%">$CDW, $CPRT, $TSM</td></tr>
<tr><td width="50%"><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/semi-annual-letter-to-shareholders-2021.pdf?sfvrsn=6">Fundsmith Equity Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/60fd6459b6530a7c47483cb4/1627219033515/Greenhaven+Road+Letter+%282021+Q2%29%5B14%5D.pdf">Greenhaven Road Capital</a></td><td width="10%">8/28/2021</td><td width="40%">$MKTW</td></tr>
<tr><td width="50%"><a href="http://www.goodhavenfunds.com/media/pdfs/2021_SAR.pdf">GoodHaven Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q2.pdf">Hayden Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/46240c98-192f-54b0-e33f-04bcfae1a6d3/Arquitos_Investor_Letter_Q2_2021.pdf">Arquitos Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2021.pdf">Evermore Global Value Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1z0cVyJJhW2gOIRJjcnm97gLAHPyGB7y5/view">Andaz Private Investments</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://4bcad08e-7e47-411d-ace4-bf332d18ac81.filesusr.com/ugd/ae68ee_0b2b61051db64ebd8e6c9b6bf84f5bf5.pdf">WertArt Capital</a></td><td width="10%">8/28/2021</td><td width="40%">$SUPN, $GOE.PA, $NTDOY, $HSCNF</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/129847b2-a046-f058-3f5b-574f42e332c7/Rhizome_Partners_Q2_2021_Investor_Letter_Final_8_11_2021.pdf">Rhizome Partners</a></td><td width="10%">8/28/2021</td><td width="40%">$FRPH</td></tr>
<tr><td width="50%"><a href="https://palmcapital.co.za/wp-content/uploads/2021/08/2021Q2-Commentary.pdf">Palm Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
</tbody>
</table>
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<hr /><span style="font-size: large;">1st Quarter 2021</span><br /><hr /><br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/04/STJIC-Adviser-Letter-2021-Q1-Final.pdf">St. James Investment Company </a></td><td width="15%">4/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/04/HCM-Q1-21-Quarterly-Letter.pdf">Headwaters Capital</a></td><td width="10%">4/05/2021</td><td width="40%">$AFG, $TREE</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/60661aecfb181a159d5db5c6/1617304300584/Q12021.pdf">Comus Investments</a></td><td width="10%">4/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/606b99c2db9f0919a2294aa6/1617664479120/Del+Principe+O%27Brien+March+2021+Letter+.pdf">Del Principe O’Brien Financial Advisors</a></td><td width="10%">4/05/2021</td><td width="40%">$AVGO, $DISCA, $BIIB</td></tr>
<tr><td width="50%"><a href="http://east72.com.au/wp-content/uploads/2021/04/QUARTERLY-REPORT-Public-March-2021.pdf">East72 Holdings</a></td><td width="10%">4/06/2021</td><td width="40%">$VHI, $HALFF</td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_64_en.pdf">Vltava Fund</a></td><td width="10%">4/07/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$PHYS, $CRI, $WHGLY, $DOX</td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_349e86f42c3f42c78ed7759e48940932.pdf">Merion Road Capital</a></td><td width="10%">4/08/2021</td><td width="40%">$FNF, $RCKY</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2021/">Oakmark Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$MO, $COP</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2021/">Oakmark Select Fund</a></td><td width="10%">4/08/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2021/">Oakmark Global Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$CGEMY, $FISV, $GD, $HUM, $SAP</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-quarter-2021/">Oakmark Global Select Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$DDAIF, $CS</td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Worm%20Capital%20-%20Q1%202021%20Letter.pdf?utm_medium=email&_hsmi=120528142&_hsenc=p2ANqtz-88OPptDlNk0V_RKer-I8HnGkft2e5Y_-jllYmTk9S3aCp_JUT34K1fdxVHIJ8TE3KQBnHX6Ndz6Zovncgns-qhi6iROQ&utm_content=120528142&utm_source=hs_email">Worm Capital</a></td><td width="10%">4/09/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://p.weebly.com/14123551/80d38a39e3/ACML_2021_Q1.pdf">Alphyn Capital Management</a></td><td width="10%">4/11/2021</td><td width="40%">$CFX</td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=a1db0cdb72">Argosy Investors</a></td><td width="10%">4/12/2021</td><td width="40%">$KAR, $GO, $CNSWF, $RRTS, $DFH, $RGLD</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/c6900e62-2470-4112-ad70-66c7876601e0/March_2021_Investor_Letter_Institutional_Imperative_vFinal.pdf">Richie Capital Group</a></td><td width="10%">4/12/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_de9b06acfa2e43c1b2cccbeecbca5f38.pdf">Wedgewood Partners</a></td><td width="10%">4/14/2021</td><td width="40%">$BKNG, $EW, $ODFL, $SBUX</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">4/14/2021</td><td width="40%">$MSTR, $DKNG, $MGNI, $EH, $CHPT, $PLAN</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">4/14/2021</td><td width="40%">$SHAK, $CTRX, $TECH, $BLI, $BIGC, $AVLR</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210331.pdf">FMI All Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210331.pdf">FMI International Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210331.pdf">FMI Large Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210331.pdf">FMI Small Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">4/15/2021</td><td width="40%">$UNH, $BKNG, $SCHW, $SQ, ZG, $SNOW, $FTCH</td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$UNH, $BKNG, $SCHW, $SQ, ZG, $SNOW, $FTCH</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202103.pdf">Bronte Capital</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/607848df2b3546320bb614e8/1618495713359/Upslope+-+2021Q1+Letter.pdf">Upslope Capital Management</a></td><td width="10%">4/15/2021</td><td width="40%">$FCV, $TMXXF, $CBOE</td></tr>
<tr><td width="50%"><a href="https://www.nzscapital.com/quarterly-letters/q1-2021-letter">NZS Capital</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$LUMN, $AMG, $CNX, $GE, $MGM, $FRFHF, $CNHI</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$LUMN,$CNX, $ESRT, $RLGY, $MAT</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">4/15/2021</td><td width="40%">$TOITF, $ATVI</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">4/15/2021</td><td width="40%">$TOITF, $ATVI</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2021Q1NP.pdf">Hoisington Investment Management</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$FISV</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q1-letter-fewer-but-better">Andvari Associates</a></td><td width="10%">4/15/2021</td><td width="40%">$CSGP</td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_e111d7b217d84fc6a3d141bc4da4e2c2.pdf">Old West Capital Management</a></td><td width="10%">4/16/2021</td><td width="40%">$RFL</td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/1Q21-Investor-Letter.pdf">Summers Value Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$ELMD</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.21.pdf">Baron Asset Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$TRIP, $EPAM</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.21.pdf">Baron Discovery Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$TRIP, $VSPR, $MRCY, $DSP, $SAIL</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.21.pdf">Baron Health Care Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$ICLR, $TECH</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-3.31.21_0.pdf">Baron Opportunity Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/first-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$$FAST, $HD</td></tr>
<tr><td width="50%"><a href="https://info.massifcap.com/cs/c/?cta_guid=1c92330b-c129-4677-99c2-1e472dbf2bf3&signature=AAH58kGMg6AB-2tlmoiqkWnIMLMFRr9cxQ&pageId=44998595421&placement_guid=7176c8ab-1803-4f2a-982d-00261ee33e87&click=6453a38f-d437-4d45-9ed8-0f022fea3c0a&hsutk=c7a00000129d1ab31df10178dc3acf03&canon=https%3A%2F%2Finfo.massifcap.com%2Ffirst-quarter-2021-letter-to-investors-full&utm_referrer=https%3A%2F%2Fwww.reddit.com%2F&portal_id=4518141&redirect_url=APefjpEOhoAzbqmMIGOodmqp0YJMarGkKPCQ1nX11xmBRxJ3L4UbCp_iosSORBALh1LqwIe1d_UqRT13T7zUISDnL-XXSv7NhAmiwt7Dncx1kydBMgDScbvQqAFVXlU4Qnf2IA_vtv_KNfm2dnj5hsQkQS2Z5eeIE8Agbwyqo5u5eJEwmADP9bR9-Y5VMS0hdwmUfjzSDDyXqFpOc4YMjE9gg5FAMt3Q29eD5dCCdKc00dq0Mko-5sE915i8kn9_2z5U3P3EaJ-kN97S0lErcVWVMvpQyLPkMA">Massif Capital</a></td><td width="10%">4/16/2021</td><td width="40%">$LAC, $IVN, $TRQ</td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/04/Qlet2021-01-2.pdf">Greenlight Capital</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_1f4310f663684c688a501f1d425e1cb5.pdf">Spree Capital</a></td><td width="10%">4/16/2021</td><td width="40%">$ICE</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=3059">Miller/Howard Investments</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2021/04/shareholder-letter-smead-value-fund1.pdf">Smead Value Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_03_31_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="10%">4/17/2021</td><td width="40%">$UPLD, $ORBC, $JIH</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTMX-APDMX-APHMX-QCommentary-1Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/1q2021-commentary">Whitebrook Capital</a></td><td width="10%">4/17/2021</td><td width="40%">$DISCA, $CNDT</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6073fa24de1505281daa7d78/1618213412780/2021+Q1.pdf">Blue Tower Asset Management</a></td><td width="10%">4/17/2021</td><td width="40%">$CGEO.L</td></tr>
<tr><td width="50%"><a href="https://l1international.com/wp-content/uploads/2021/04/L1_International_Fund_March_2021_Quarterly.pdf">L1 International Capital Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-1Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-1Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-1Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="10%">4/17/2021</td><td width="40%">$HNHPF, $WEGZY, $6415.TW</td></tr>
<tr><td width="50%"><a href="https://www.nelsoncapitalmgmt.com/wp-content/uploads/2021/04/2021Q1.pdf">Nelson Capital</a></td><td width="10%">4/17/2021</td><td width="40%">$DNMR</td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/04/Q1-2021-Letter.pdf">Distillate Capital</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.akrefund.com/wp-content/uploads/2021/04/Akre-Focus-Fund-Quarterly-Commentary-2021-Q1.pdf">Akre Focus Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="10%">4/18/2021</td><td width="40%">$VREOF, $SKY, $MX, $NLS, $ASPU, $STRL, $ROAD</td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/04/Arisaig-Quarterly-April-2021.pdf">Arisaig Partners</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$LEN, $BAM, $CBRE, $JBGS, $PLD</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$BSIG</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr><tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.21.pdf">Baron Growth Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$ACVA</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.21.pdf">Baron Partners Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.21_0.pdf">Baron Real Estate Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc936d6a4-4d95-4062-a6d3-1be113b71c41_1770x2502.png">Tidefall Capital Management</a></td><td width="10%">4/22/2021</td><td width="40%">$BRK.B</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/607dbeff4b7b445d523e1dda/1618853631624/GCAM+Q1+2021+client+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">4/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$UHAL, $RGA, $PSB</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$CCBG, $NFG, $CGAU</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$PAHC, $MEI</td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/04/Greystone-Capital-Q1-2021-Letter.pdf">Greystone Capital Management</a></td><td width="10%">4/25/2021</td><td width="40%">$PW, $SHSP, $HIL, $THRY, $RMNI, $LSYN, $PLBY</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/608403732cc7860039191c41/1619264371755/Q1%2721+letter.pdf">1 Main Capital Partners</a></td><td width="10%">4/25/2021</td><td width="40%">$GOOG, $KKR, $LMB, $PSH, $RICK, $LGIH, $W, $WINE.LN</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="10%">4/25/2021</td><td width="40%">$AMZN, $NFLX, $CRM</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2021.pdf">Polen Capital - Global Growth</a></td><td width="10%">4/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2021.pdf">Polen Capital - International Growth</a></td><td width="10%">4/25/2021</td><td width="40%">$TCRHY, $AON, $SGPYY, $EDU, $ADDYY, $CSLLY, $EVVTY</td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q1-2021-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="10%">4/25/2021</td><td width="40%">$TPL</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/608306de4e49f0272799af39/1619199711634/Kinsman+Oak+-+Q1+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="10%">4/25/2021</td><td width="40%">$BWXT</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-3.31.21.pdf">Baron FinTech Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.21.pdf">Baron Small Cap Fund</a></td><td width="10%">4/27/2021</td><td width="40%">$DRVN, $ETWO, $SHLS</td></tr>
<tr><td width="50%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q21.pdf">Horos Funds</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/60837419998e6d1327cad2f2/1619227673384/Laughing+Water+Capital+Q1+2021.pdf">Laughing Water Capital</a></td><td width="10%">4/27/2021</td><td width="40%">$RMNI, $ITI</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTKX-APDKX-APHKX-QCommentary-1Q21-vR.pdf">Artisan International Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTSX-APDSX-APHSX-QCommentary-1Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary_0.PDF">First Eagle Global Value</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/04/VVP-Quarterly-Letter-21.03.31.pdf">Vulcan Value Partners</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637551430890000000">Weitz Hickory Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637551430890000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637551430890000000">Weitz Partners Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637551430890000000">Weitz Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2021.pdf">L1 Capital Long Short Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aikya.co.uk/wp-content/uploads/2021/04/2021-Q1-Aikya-letter.pdf">Aikya Funds</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/04/Alluvial-Capital-Management-Q1-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="10%">4/28/2021</td><td width="40%">$PIOE, $CRAWA, $LGNC, $WHLR, $MMAC</td></tr>
<tr><td width="50%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202103/Commentary-Small-Cap-Fund-2021-03-31.pdf?c=637552293870000000">Diamond Hill Small Cap Fund</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rgaia.com/wp-content/uploads/2021/04/Q1-2021-Investment-Commentary-FINAL.pdf">RGA Investment Advisors</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q1.pdf?sfvrsn=8">FPA Crescent Fund</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/608c14f248d0480bd46a9f0f/1619793138598/Maran+Partners+Fund+LP+2021+1Q+Letter.pdf">Maran Capital Management</a></td><td width="10%">5/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/608f30c68a421213d86a1fca/1619996870844/Q1+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">5/02/2021</td><td width="40%">$VQSLF</td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/04/Epoch-Quarterly-Newsletter_April-2021.pdf">Epoch Investment Partners</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/04/DKAM-ROE-Reporter-April-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-1Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/04/28/investor-letter-2021-q1/">Tao Value</a></td><td width="10%">5/03/2021</td><td width="40%">$TAL, $FUTU</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6090ae79e8c9d0715bdbb1d2/1620094586126/Q1+2021Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="10%">5/04/2021</td><td width="40%">$SODI $PCOA $DBMG $PCHM $PDRX $RILY $SBNC</td></tr>
<tr><td width="50%"><a href="https://www.palmharbourcapital.com/files/PHC_Q1_2021_Letter.pdf">Palm Harbour Capital</a></td><td width="10%">5/06/2021</td><td width="40%">$SEOAY, $</td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/156KaPykj421-qrzeb22yP2Yr55kdmGc2/view">Andaz Private Investments</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202021%20-%20Final.pdf">Tweedy Browne</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://bluehawkinvestors.com/wp-content/uploads/2021/05/Q1-2021-Investor-Letter.pdf">Blue Hawk Investment Group </a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1620323022969">Miller Income Strategy</a></td><td width="10%">5/06/2021</td><td width="40%">$PBI, $CHS, $VTRS, $GEO</td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1620314382817">Miller Opportunity Equity</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-1Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-1Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdpointlimited.com/wp-content/uploads/2021/05/Third-Point-Q1-2021-Investor-Letter-TPIL.pdf">Third Point</a></td><td width="10%">5/07/2021</td><td width="40%">$UPST, $GRAB, $CSGP</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/7840b0a9-c29d-4f13-a92e-3ab748b62a11/Steel_City_Capital_1Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="10%">5/10/2021</td><td width="40%">$NWSA, $SIGA, $ATEX, $LSYN, $TRUP, $WDFC</td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2021.Q1%20Commentary/2021.Q1%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/crescat-april-investor-letter/">Crestcat Capital</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_05_13.pdf">Myrmikan Research</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/early-days-in-the-value-recovery-commentary/">Pzena Investment Management</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abd98abb-2e75-dd3f-742d-521ce1e13373/050521_Bonhoeffer_Partner_Letter_Q1_2021.pdf">Bonhoeffer Capital Management</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.appleseedfund.com/wp-content/uploads/2021/05/APPLX-Q1-2021-Semi-Annual-Letter.pdf">Appleseed Fund</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Sustainable-Q1-2021-web.pdf">Saturna Capital</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Amana-Q1-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Sextant-Q1-2021-web.pdf">Saturna Capital - Sextant Funds</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://choice-equities.com/wp-content/uploads/2021/05/2021-Q1-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="10%">5/13/2021</td><td width="40%">$BNED, $FARM</td></tr>
<tr><td width="50%"><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2021-partner-letter-oNRTNaLn">Artko Capital</a></td><td width="10%">5/23/2021</td><td width="40%">$HQI</td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/04/2021-03-March-Performance-Update-Public.pdf">LRT Capital</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/">Ariel Trust Funds</a></td><td width="10%">5/23/2021</td><td width="40%">$AXTA, $SNA, $SRCL</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/APFDX-APDDX-APHDX-QCommentary-1Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTLX-APDLX-APHLX-QCommentary-1Q21-vR.pdf">Artisan Value Fund</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/60a80d2db82d4c0854264a21/1621626158448/Bonsai+Partners+Q1+2021+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td width="10%">5/23/2021</td><td width="40%">$RDBBF, $MU, TSYHY, $PHPYF, $LKQ, $TSM, $ILMN</td></tr>
</tbody>
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<hr /><span style="font-size: large;">4th Quarter 2020</span><br /><hr /><br />
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</thead>
<tbody>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="15%">1/14/2021</td><td width="40%">$NET, $ROKU, $FTCH, $QDEL, $STMP, $ZM</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">1/14/2021</td><td width="40%">$CDNA, $NTRA, $CMD, $STMP, $TNDM, $QDEL</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://p.weebly.com/14123551/0fd3577090/ACML_2020_Q4.pdf">Alphyn Capital Management</a></td><td width="10%">1/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/6010d367849bae794accb740/1611715431638/Q4+2020+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1WotHxQKWf4FdXA4Fz-1oWl9MVCMet2XA/view">Andaz Private Investments</a></td><td width="10%">1/04/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q4-letter-the-leap-of-faith">Andvari Associates</a></td><td width="10%">1/07/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=e596a3f39f">Argosy Investors</a></td><td width="10%">1/12/2021</td><td width="40%">$PINS, $JD, $RP, $SPB, $FTV, $WFC</td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/01/Arisaig-Quarterly-January-2021.pdf">Arisaig Partners</a></td><td width="10%">1/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/APFDX-APDDX-APHDX-QCommentary-4Q20-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTIX-APDIX-APHIX-QCommentary-4Q20-vR.pdf">Artisan International Value Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTMX-APDMX-APHMX-QCommentary-4Q20-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTSX-APDSX-APHSX-QCommentary-4Q20-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$SMMC ($BTRS), $DNLI, $ZNGA, $FROG.</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTLX-APDLX-APHLX-QCommentary-4Q20-vR.pdf">Artisan Value Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://docsend.com/view/ffasrkj3xbcp73rp">Avory & Company</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-12.31.20.pdf">Baron Asset Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$SFIX, $FTCH.</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-12.31.20.pdf">Baron Discovery Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$CDNA, $TPIC, $ALGM, $ESPR, $EBS, $SILK, $FQVTF, $MDEVF, $RRR, $EAR.</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-12.31.20.pdf">Baron FinTech Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$SHOP, $MELI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-12.31.20.pdf">Baron Growth Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$DM</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-12.31.20.pdf">Baron Health Care Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-12.31.20.pdf">Baron Opportunity Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$OPEN, $SFIX, $FTCH</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-12.31.20.pdf">Baron Partners Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-12.31.20_0.pdf">Baron Real Estate Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_12_31_bca_scv_marketcomm_final.pdf">Bernzott Capital Advisors</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/600e93bc3e161e647bf37eb8/1611568060751/2020+Q4.pdf">Blue Tower Asset Management</a></td><td width="10%">1/27/2021</td><td width="40%">$EZPW</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202012.pdf">Bronte Capital</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5fef8b00dac66e1e16b7d4d0/1609534209232/Q42020.pdf">Comus Investments</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://concentratedcompounding.com/2020-annual-letter/">Concentrated Compounding*</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2020/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">1/20/2021</td><td width="40%">$TKAYY, $WMG, $WDAY, $OCPNY.</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2020/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/01/Q4-2020-Letter.pdf">Distillate Capital</a></td><td width="10%">1/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/01/DKAM-ROE-Reporter-January-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/dd77d6a119e511a93e9308144/files/d2f72ae0-8aec-47c9-9e3a-66ec7ebe0d92/Edgebrook_Annual_Letter_2020.01.pdf">Edgebrook Partners</a></td><td width="10%">1/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/01/Epoch-Quarterly-Newsletter_January-2021.pdf">Epoch Investment Partners</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/FE_GV_Annual_Letter_F-CM-GVT-ANNLTR-P-US.pdf">First Eagle Global Value</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20201231.pdf">FMI All Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20201231.pdf">FMI International Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20201231.pdf">FMI Large Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20201231.pdf">FMI Small Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://foragerfunds.com/wp-content/uploads/2021/01/FORAGER-QR_DEC20.pdf">Forager Funds</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2020.pdf?sfvrsn=4">Fundsmith Equity Fund</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/6008b2665bd7e21cbb2aefd0/1611182698327/GCAM+FY+2020+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.goodhavenfunds.com/media/pdfs/2020_AR.pdf">GoodHaven Fund</a></td><td width="10%">1/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/01/Qlet2020-041.pdf">Greenlight Capital</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/01/Greystone-Capital-Q4-2020-Letter.pdf">Greystone Capital Management</a></td><td width="10%">1/16/2021</td><td width="40%">$CHRM, $TRRVF, $LSYN, $USAT, $FREE</td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/01/Q4-20-HCM-Investment-Letter-FINAL.pdf">Headwaters Capital</a></td><td width="10%">1/10/2021</td><td width="40%">$ENTG, $FICO, $INSP</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$FCX, $RJF, $BG, $AAP</td></tr>
<tr><td width="50%"><a href="">Heartland Select Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$THO, $NVT, $CAGDF</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$PAHC, $RILY.</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2020Q4NP.pdf">Hoisington Investment Management</a></td><td width="10%">1/19/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2020.pdf">L1 Capital Long Short Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/600d8da0643aa1698781e02a/1611500960816/Laughing+Water+Capital+YE+2020.pdf">Laughing Water Capital</a></td><td width="10%">1/24/2021</td><td width="40%">$AIMFF, $CDMO, $PAR, $USAT</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/01/2020-12-December-Performance-Update.pdf?utm_source=LRT+Capital+Management&utm_campaign=7b597b9b26-EMAIL_CAMPAIGN_4_27_2019_9_58_COPY_01&utm_medium=email&utm_term=0_8ad2dd2e5c-7b597b9b26-328907381">LRT Capital</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/6009bb1b2d18d542ead573a2/1611250465556/2020.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_c4c58da3cf8940a2a507e31c7543f084.pdf">Merion Road Capital</a></td><td width="10%">1/12/2021</td><td width="40%">$PINS, $FCPT, $FERGY, $MHH, $RMCF, $LNSR</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=3050">Miller/Howard Investments</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1igQ64JuZiJ7IEQllP0u3RyQBJ3_uPJTg/view">MPE Capital</a></td><td width="10%">1/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_01_13.pdf">Myrmikan Research</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.nzscapital.com/news/nzs-capital-q4-2020-update">NZS Capital</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2020/">Oakmark Fund</a></td><td width="10%">1/11/2021</td><td width="40%">$FISV, $KKR</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2020/">Oakmark Select Fund</a></td><td width="10%">1/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2020/">Oakmark Global Fund</a></td><td width="10%">1/11/2021</td><td width="40%">$NVS, $KDP, $LYV, $PINS</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2020/">Oakmark Global Select Fund</a></td><td width="10%">1/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d433d06abf354a039039af0d4933c5f8.pdf">Old West Capital Management</a></td><td width="10%">1/11/2021</td><td width="40%">$WLDBF.</td></tr>
<tr><td width="50%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_84c55e774aac418fa065fb61206be3c1.pdf">Palm Valley Capital Fund</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2020.pdf">Polen Capital - Focus Growth</a></td><td width="10%">1/22/2021</td><td width="40%">$ILMN, $CRM.</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2020.pdf">Polen Capital - Global Growth</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2020.pdf">Polen Capital - International Growth</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/momentum-is-with-value/">Pzena Investment Management</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/e5a21f93-8c76-431c-8ddd-63c0efe24514/December_2020_Investor_Letter_Blind_Spots_vFinal.pdf">Richie Capital Group</a></td><td width="10%">1/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q20_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">1/14/2021</td><td width="40%">$SNAP, $PINS, $BX, $UBER, $EXAS, $LMT, $DXCM.</td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_4Q20_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rvcapital.ch/post/rv-capital-s-2020-letter-to-co-investors-in-the-business-owner-fund?utm_campaign=35210720-6fbf-42de-a744-9fd46d8f3f4e&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="10%">1/15/2021</td><td width="40%">$WORK</td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_dbd7c0662df04a51889bfc17d810d421.pdf">Spree Capital</a></td><td width="10%">1/18/2021</td><td width="40%">$CDLX, $UPWK.</td></tr>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/01/STJ-Adviser-Letter-2020-Q4.pdf">St. James Investment Company </a></td><td width="10%">1/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/51948ad1-0c35-4453-9e43-36915ae8cfec/Steel_City_Capital_4Q_20_Partner_Letter.pdf">Steel City Capital</a></td><td width="10%">1/25/2021</td><td width="40%">$LSYN, $ATEX, $EBAY, $TRUP, $WDFC</td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/2020-Annual-Investor-Letter-.pdf">Summers Value Fund</a></td><td width="10%">1/21/2021</td><td width="40%">$BASI, $ELMD, $MODV</td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/01/20/investor-letter-2020-q4/">Tao Value</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%">$FNMA, $AMH</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%">$LAZ, $SVNDY.</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/600031ce75feee1e320a0c37/1610625487864/Upslope+-+2020Q4+Letter.pdf">Upslope Capital Management</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_63_en.pdf">Vltava Fund</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/01/VVP-Annual-Letter-20.12.31.pdf">Vulcan Value Partners</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_e0367d900f594418b9f80f5332a78da3.pdf">Wedgewood Partners</a></td><td width="10%">1/13/2021</td><td width="40%">$PGR, $SPGI, $TSCI</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637472989640000000">Weitz Hickory Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637472989640000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637472989640000000">Weitz Partners Value Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637472989640000000">Weitz Value Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/4q2020-commentary">Whitebrook Capital</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q4-2020-Review_Final_Approved.pdf">Horizon Kinetics</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-4Q20-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-4Q20-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hardingloevner.com/strategies/international-small-companies-equity/">Harding Loevner International Small Companies Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hardingloevner.com/strategies/global-small-companies-equity/">Harding Loevner Global Small Companies</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q4-2020/">Crestcat Capital</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2020.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2020.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/fourth-quarter-2020-investment-update/?__hstc=3281263.805dd8f22d7941cbc2e047cb71a92ba5.1612067828585.1612067828585.1612067828585.1&__hssc=3281263.13.1612067818999&__hsfp=3642198382">Ensemble Fund</a></td><td width="10%">1/30/2021</td><td width="40%">$RACE, $NVR</td></tr>
</tbody>
</table>
<br /></div><div><br /></div><div><br /></div><div><br /></div><div><span style="font-size: x-large;">3rd Quarter 2020</span></div><div><span style="font-size: x-large;"><br /></span></div><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f91d68ffcf5365a608ae79b/1603393167269/Q3%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($LMB)</li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($PENN, $ZM, $DKNG, $VAPO, $MIDD, $VERX)</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($NTRA, $CYRX, $VEEV, $AYX, $EHTH, $PRO).</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://p.weebly.com/14123551/0e14046f58/acml_2020_q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f9c71c178bf29569ce3e73c/1604088257626/Q3+2020+Alta+Fox+Capital+Quarterly+Letter+-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT)</li><li><a href="https://drive.google.com/file/d/16Z5Ah7ylRfTNtv7_89hvySNkLBs94ymo/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://andvariassociates.com/q3-letter-repeatable-process-and-concentration" target="_blank">Andvari Associates</a> -($GLIBA, $LBRDA, $CSGP, $TYL)</li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/08/APPLX-Q2-2020-Letter-.pdf" target="_blank">Appleseed Fund</a></li><li><a href="https://mailchi.mp/d5669ebd0777/argosy-investors-3q20-letter-5089533" target="_blank">Argosy Investors</a> - ($TIG, $TAP, $XPO, $HEI, $CIGI).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BAP, $FLIR, $NOV, $MTN).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abb0e242-eb67-40d1-883b-ecdfa6b22d71/Arquitos_Investor_Letter_Q3_2020.pdf" target="_blank">Arquitos Capital</a></li><li><a href="https://arisaig.com/wp-content/uploads/2020/10/Arisaig-Quarterly-October-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/3q/APFDX-APDDX-APHDX-QCommentary-3Q20-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTKX-APDKX-MCommentary-0920-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTMX-APDMX-MCommentary-0920-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTSX-APDSX-MCommentary-0920-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTLX-APDLX-MCommentary-0920-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-3q-2020-partner-letter-XOMTVzxR" target="_blank">Artko Capital</a> - ($NTIC, $PBPB, $FTK)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-9.30.20.pdf" target="_blank">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-9.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($PRPL, $VITL, $PACB, $BLI, $AFIB, $MEG, $AEIS).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron FinTech Fund</a> - ($SQ, $NVEI.TO).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-9.30.20.pdf" target="_blank">Baron Growth Fund</a> - ($AMWL).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-9.30.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-9.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-9.30.20_1.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_9_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($SSTK, INOV, $WSC, $EPAY, $SP, $CSOD)</li><li><a href="https://s3.amazonaws.com/bireme/3Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AAADKn6HMQN3RcB_NnJSPUsRa/Black%20Bear%20Value%20Partners%20Q3%202020.pdf?dl=0" target="_blank">Black Bear Value Partners</a> - ($AWI, $AN, $BRK.B, $PSX, $TPL)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f84061d553af93162d867d1/1602487838468/2020+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($BERY)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f90958a0514cc4e0f71e119/1603310986504/Bonsai+Partners+Q3+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($RDBBF, $PHPYF, $MU, $GNSS, $TSM).</li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202009.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf3q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a> - ($CRL, $BFAM, $JKHY, $RP)</li><li><a href="https://browncapital.com/system/files/scf3q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($IRTC, $VEEV, $AYX, $PRO)</li><li><a href="https://browncapital.com/system/files/ief3q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf3q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://drive.google.com/file/d/1a76lPrhT-7Z1kFGOwh1f_w90IPJiAnNE/view" target="_blank">Cartenna Capital</a> - ($FDX, $LAD, $LEA)</li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f85eb7289085d67fca99c88/1602612084148/Q3+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:7abf9ad9-f7fe-4977-813d-f110bc6cd463#pageNum=1" target="_blank">Choice Equities Fund</a> - ($APPS, $PINS, $MGNI, $SIC).</li><li><a href="https://cedcapital.in/wp-content/uploads/2020/10/Quarterly-PMS-Letter-Sep20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5f761584c70e806b3d25af69/1601574277212/Q32020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Hedged)</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Unhedged)</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q3-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5f8770933c746c06627c78af/1602711699235/Q3+2020+Letter.pdf" target="_blank">Curreen Capital</a> - ($CNDT).</li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5fb1cf491cc5cc6622c8d927/1605488457151/Del+Principe+O%27Brien+October+2020+Letter+pdf.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a> - ($BRK.B, $ROP, $DHR, $MC, $ICE)</li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/2eca2e7c-b182-4c14-8b24-b57b0eb9b1e1/2020_Q3_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/10/Q3-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://dmzpartners.in/Documents/Files/DMZ-2103-2Q20-21-Redacted.pdf" target="_blank">DMZ Partners</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/10/DKAM-ROE-Reporter-October-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2020/" target="_blank">Ensemble Fund</a> - ($CMG, $ISRG. $NVR, $BR, $FRC, $NVR).</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/10/16105449/Client-Letter-Q3-2020-FINAL.pdf" target="_blank">Ewing Morris</a> - ($KAI)</li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200930.pdf" target="_blank">FMI All Cap Equity</a> - ($CMCSA, $DLTR).</li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200930.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200930.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200930.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-q3.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NCR, $AGCO, $CNOM, $CNC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q3-final-w-disclosures-and-holdings.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q3%20Commentary/2020.Q3%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f9c6af71e0c5e77d38dbda4/1604086519425/Greenhaven+Road+Letter+%282020+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $KKR, $APPS, $ESTC, $ROKU, $AEYE, $APG, $NLS, $BNED)</li><li><a href="https://www.valuewalk.com/wp-content/uploads/2020/10/Qlet2020-03-1.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.11.01-Q3-Letter-v2.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/11/Greystone-Capital-Q3-2020-Letter.pdf" target="_blank">Greystone Capital Management</a> - ($RICK, $RMNI, $CRAWA, $RSSS, $PW)</li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-3Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-3Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-3Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-3Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q3.pdf" target="_blank">Hayden Capital</a> - ($AFTPF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($HLT, $SPB, $FE, $MHK)</li><li><a href="https://www.heartlandadvisors.com/Products/Strategies/Heartland-Opportunistic-Value-Equity-Strategy/Heartland-Opportunistic-Value-Equity-Strategy-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Opportunistic Value Fund</a> - ($HLT, $CSCO, $BRK.B)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TSC, $OESX ,$PLAB)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SPB, $FCFS, $RL)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q3NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($TPL)</li><li><a href="https://l1international.com/wp-content/uploads/2020/10/09_2020_International_Fund_Quarterly_Report.pdf" target="_blank">L1 International Capital Fund</a></li><li><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2020.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f8c75b4bdc0fc164f836caf/1603040693094/Laughing+Water+Capital+Q3%2720.pdf" target="_blank">Laughing Water Capital</a> - ($USAT, $FREE)</li><li><a href="https://southeasternasset.com/commentary/3q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/10/2020-09-September-Performance-Update-Public.pdf" target="_blank">LRT Capital</a></li><li><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_1bf005a3950242f48eeff54c938130ed.pdf" target="_blank">Luca Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($HON)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0" target="_blank">Madison Investors Fund</a> - ($FB)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0" target="_blank">Madison Mid Cap Fund</a> - ($ANET)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5fa85397ef83d42c47c6bbad/1604866968719/Maran+Partners+Fund+LP+2020+3Q+Letter.pdf" target="_blank">Maran Capital Management</a> - ($FREE, $PCYO, $CLAR)</li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5f91f70b872be4229ca34d82/1603401483222/2020.Q3+Massif+Investor+Client+Letter.pdf" target="_blank">Massif Capital</a></li><li><a href="https://www.mawer.com/learn/mawer-quarterly/third-quarter-2020/" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://www.mclaincap.com/letters" target="_blank">McLain Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_ff943467174a4a2fbef2fb129e71359a.pdf" target="_blank">Merion Road Capital</a> - ($FERGY, $TUESQ)</li><li><a href="https://www.mhinvest.com/download.html?docId=3036" target="_blank">Miller/Howard Investments</a></li><li><a href="https://millervalue.com/deep-value-strategy-3q20-letter/" target="_blank">Miller Value - Deep Value Strategies</a> - ($NBR, $BBBY, $GME, $SIG, $PBI, $ATCO)</li><li><a href="https://millervalue.com/opportunity-equity-3q20-letter/" target="_blank">Miller Value - Opportunity Equity</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a></li><li><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2020_10_13.pdf" target="_blank">Myrmikan Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/10/2020Q3.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($QDEL).</li><li><a href="https://drive.google.com/file/d/1wavRmQCrmYZ0Xr91X-0o7wfgS-oaE48W/view" target="_blank">Nomadic Value</a> - ($UNH, $OHS, $IPOC).</li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2020/" target="_blank">Oakmark Fund</a> - ($CBRE, $KDP)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_16ebf57ec73a4bd8957c37c5ed02890b.pdf" target="_blank">Old West Investment Management</a> - ($LEU)</li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_ebd5d2ddc5a04d9b8a657a03a5115b1f.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($UNH, $ISRG, $CRM, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.rgaia.com/wp-content/uploads/2020/11/Q3-2020-Investment-Commentary-Ignition.pdf" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/0c3c2277-336b-4b40-957b-97b4df6c3b1b/Rhizome_Partners_Q3_2020_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q20.pdf" target="_blank">RiverPark Large Growth</a> - ($PINS, $AAPL, $AMZN, $EXAS, $ISRG, $ILMN, $AMT, $ADSK)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_3Q20.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/11/2020-Q3-Newsletter.pdf" target="_blank">Rowan Street Capital</a> - ($BABA)</li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sustainable-Q3-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Amana-Q3-2020-web.pdf" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sextant-Q3-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://drive.google.com/file/d/1A0s8GKvMy-_xUHbzxDSaN0AEjmwSg_f6/view" target="_blank">Selcouth Capital Management</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=459a37f7-5751-4cfe-9518-f3a1538c959e&Name=Q3_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/ba603bd1-d159-48eb-8ad5-d291db00375b/SilverRingValuePartners_2020Q3_Letter.pdf" target="_blank">Silver Ring Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_706aab945eef4b7088fcb7ee7409a296.pdf" target="_blank">Spree Capital</a> - ($IAC, $ANGI, $PINS)</li><li><a href="https://stjic.com/wp-content/uploads/2020/09/STJIC-Adviser-Letter-2020-Q3.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/13ac1227-dad0-4f2e-9abf-49860419ff60/Steel_City_Capital_3Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a> - ($LSYN, $ATEX. $SATS, $EBAY, $TCP, $TRUP, $HBI, $OLLI)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $ELMD, $PRSC, $ASRT)</li><li><a href="https://taovalue.files.wordpress.com/2020/10/taovalue_2020_q3_final.pdf" target="_blank">Tao Value</a> - ($BEKE, $WORK, $API)</li><li><a href="https://drive.google.com/file/d/1Utxz55Fm5B66CLNOoTYUOktAfFEX5jgq/view" target="_blank">Tidefall Capital Management</a> - ($FB, $NFLX, $MTCH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAREX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FNMA, $CBRE, $AMH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TASCX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($HBB)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAVFX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://thirdpointlimited.com/wp-content/uploads/2020/10/Third-Point-Q3-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AABLnwQSozTE3JKv2sad6Z9fa?dl=0&preview=Tollymore+Q3+2020.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRUP, $FTCH).</li><li><a href="https://www.turtlecreek.ca/wp-content/uploads/2020/10/Turtle-Creek-Quarterly-Commentary-2020-Q3.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202020%20-%20FINAL.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f871d84732ab26ee19d4081/1602690437395/Upslope+-+2020Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($BFAM)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_62_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/10/VVP-Quarterly-Letter-20.09.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f46984994bc44abab0fa9d012fa35da.pdf" target="_blank">Wedgewood Partners</a> - ($FRC, $NVDA, $V, $PYPL)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/3q2020-commentary" target="_blank">White Brook Capital</a> - ($GOOG, $GT)</li><li><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Q3%20Letter%20-%20Worm%20Capital%20-%20October%202020.pdf?utm_medium=email&_hsmi=96979337&_hsenc=p2ANqtz-9c8-1QN7remFXHTROTOZTyb6aD5SohUf2rFfwP8peAv3-Z1XJlW5WJvb4sn6epTXlR7KXK61iVzvAd7ZtR3HHcWBQZvQ&utm_content=96979337&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><span style="font-size: x-large;">2nd Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f1646c5f488c44459f92f6f/1595295430480/Q2%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($HBI)</li><li><a href="https://www.adestella.com/wp-content/uploads/2020/08/Q2-2020-Investor-Letter.pdf" target="_blank">Adestella Investment Management</a> - (WSE:LVC)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/07/Akre-Focus-Fund-Quarterly-Commentary-2020-Q2.pdf" target="_blank">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($QDEL, $DKNG, $MKTX, $INGN, $XPO, $HLIO).</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus</a></li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/07/Alluvial-Capital-Management-Q2-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $LICT, $NUVR, $RWWI, $CRAWA, $PII, $MMAC, $BUKS, $MHGU)</li><li><a href="https://p.weebly.com/14123551/8d9576d761/ACML_2020_Q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f21cdd21a3a007c9039d884/1596050899234/Q2+2020+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT, $NLAB)</li><li><a href="https://drive.google.com/file/d/1tOgr8EbBQL-DFcyuEIteClKQnktt-ioR/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/05/Q1-2020-applx-semi-annual-letter-updated-v2.pdf" target="_blank">Appleseed Fund</a> - ($TPIC).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($JLL, $MSGE, $SWK).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/06/Arisaig-Quarterly-July-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTIX-APDIX-APHIX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTMX-APDMX-APHMX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($PTON, $CHGG, $IEX, $LSCC, $BURL, $ASND).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTSX-APDSX-APHSX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-2q-2020-partner-letter-XzMTMQrb" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/08/2020-08-10-Askeladden-Capital-Q2-2020-Letter-Unkind.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://mcusercontent.com/1299c2986ac5b8b808d25e3db/files/3a2f5125-2747-4c36-90e0-cb882c13bfc0/Avory_Quarterly_Letter_2020_Q3.pdf" target="_blank">Avory&Company</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.20.pdf" target="_blank">Baron Asset Fund</a> - ($ZI)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-6.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($AAT, $CAKE, $FOUR, $AEIS, $CYRX, $NARI).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.20.pdf" target="_blank">Baron Health Care Fund</a> - ($SWAV, $IMMU, $CYRX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-6.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-6.30.30.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.20_0.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-6.30.20.pdf" target="_blank">Baron Small Cap Fund</a> - ($CCH, $AXNX, $KTOS, $AZEK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_6_30_bca_scv_marketcomm_final.pdf?utm_source=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CRNC, $CTLT, $EPAY, $PLOW, $SP, $BV, $SPSC, $TWNK)</li><li><a href="https://bluehawkinvestors.com/q2-2020-investor-letter/" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $EA, $SPLK, $STZ).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f1561892a4010553ea9a4fc/1595236745929/2020+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/c68a1a6b-f4ef-4fa0-a118-538e1f21755d/081020_Bonhoeffer_Partner_Letter_Q2_2020.pdf" target="_blank">Bonhoeffer Fund</a> - ($AM)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f0e14ec768fd51a428a531a/1594758381666/Bonsai+Partners+Q2+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($LKQ, $GNSS, $TSM, $PHPYF)</li><li><a href="https://www.boyarvaluegroup.com/wp-content/uploads/2020/07/2Q_2020_BVGLETTER.pdf" target="_blank">Boyar Group</a></li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202006.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf2q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf2q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/ief2q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f179f71130d4a67c0b7cc14/1595383665773/Q2+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2020/07/2020-Q2-CEF-Investor-Letter-2.pdf" target="_blank">Choice Equities Fund</a> - ($CELH, $APPS, $PINS, $CTRN, $TAST).</li><li><a href="http://choufunds.com/pdf/SEMI-AR%202020%20%28English%29.pdf" target="_blank">Chou Funds</a></li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2020+Q2+Letter.pdf" target="_blank">Coho Capital</a> - ($SPOT)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5efce03ba58d546e2e0f9e2b/1593630780199/Q22020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q2-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://www.docdroid.net/bFfeMjX/david-capital-partners-llc-letter-on-covid-19-2020-q2-pdf" target="_blank">David Capital Partners</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a> - ($COF, $BK).</li><li><a href="https://davisfunds.com/downloads/DGFPMComm.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFPMComm.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5efb340b8974eb3c8fb597aa/1593521163499/Del+Principe+O%27Brien+June+2020+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/fee3146b-2929-4ef2-a438-b026f217bccb/2020_Q2_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://dfdent.com/wp-content/uploads/2020/09/DF-Dent-063020-Annual-Report-FINAL-updated-3.pdf" target="_blank">DF Dent</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200630_Diamond-Hill_Small-Cap-Fund-Commentary-1.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/07/Q2-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/08/DKAM-ROE-Reporter-July-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_c1778ec658b04174856e4169cb505c0c.pdf" target="_blank">Emeth Value Capital</a> - ($BSM)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2020/" target="_blank">Ensemble Fund</a> - ($MASI, $NFLX)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_0.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200630.pdf" target="_blank">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200630.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200630.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200630.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://foragerfunds.com/wp-content/uploads/2020/07/Quarterly-Report_June-2020.pdf" target="_blank">Forager Fund</a> - ($CELH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-06.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q2.pdf?sfvrsn=14" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5f078ab33b43a56a3eb3feae/1594329782036/GCAM+Q2+2020+letter.pdf" target="_blank">Giverny Capital Asset Management</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q2%20Commentary/2020.02%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f1ce3f5ffc2762dc1e36675/1595728886611/Greenhaven+Road+Letter+%282020+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($GOGO, $LE, $IAC, $APPS, $KKR, $ESTC, $PAR)</li><li><a href="https://www.docdroid.net/8aEd6Ge/greenlight-2q20-letter-pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.08.18-Q2-2020-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/07/Greystone-Capital-Letter-H1-2020.pdf" target="_blank">Greystone Capital Management</a> - ($HIL, $RICK, $APG, $TRRVF, $MIXT</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/GE-2Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/IE-2Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-2Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-2Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q2.pdf" target="_blank">Hayden Capital</a> - ($AMZN, $SE)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($AAP, $RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($CNI, RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($MDC, $PLAB, $NFG)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SAH, $CCRN, $PCH)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q2NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Quarterly-Commentary_Q2-2020.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q20.pdf" target="_blank">Horos Asset Management</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/07/2020-Half-Year-JDP-Capital.pdf" target="_blank">JDP Capital</a></li><li><a href="http://investors.l1longshort.com/DownloadFile.axd?file=/Report/ComNews/20200720/02256558.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://l1international.com/wp-content/uploads/2020/07/06-2020-International-Fund-Quarterly-Report.pdf" target="_blank">L1 International Capital Fund</a> <a href="https://www.lrtcapital.com/wp-content/uploads/2020/07/2020-06-June-Performance-Update-Public.pdf" target="_blank">Capital</a></li><li><a href="https://www.docdroid.net/2ExPtjh/lakewood-capital-2020-q2-letter-pdf" target="_blank">Lakewood Capital Management</a> - ($HDS, $NSP, $ATH, $BLDP, $SLP, $SRNE)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f19a4d1e0b9f47a7f5974aa/1595516114278/Laughing+Water+Capital+1H%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/nlml7il3uj1purr/Lightsail%202Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($MMM)</li><li><a href="http://madison%20mid%20cap%20fund/" target="_blank">Madison Investors Fund</a> - ($MMC)</li><li><a href="http://madison%20investors%20fund%20-%20%28%24mmc%29/" target="_blank">Madison Mid Cap Fund</a> - ($IT, $LH, $MC).</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://www.docdroid.net/FGa8ior/maran-partners-fund-lp-2020-q2-letter1582-pdf" target="_blank">Maran Capital Management</a> - ($IAC)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2020/09/MVIP-Strategic-Growth-Commentary-2Q-2020.pdf" target="_blank">Mar Vista Investment Partners</a> - ($APH)</li><li><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202nd%20Quarter%20Letter%20to%20Investors.pdf?utm_medium=email&_hsmi=91107066&_hsenc=p2ANqtz-9LijGwDjSgj8jyqCenBnIBF47dmzsWi3IMjSFYI4FdU7JJBgy3y9ZYV2Hb0dIgRDoabuG10U1l5XThj0OJNeKKIwi9SQ&utm_content=91107066&utm_source=hs_email" target="_blank">Massif Capital</a> - ($HES, $RUN, $GOLD).</li><li><a href="https://www.mawer.com/assets/Newsletters/2Q20-Quarterly-Series-A-Net.pdf" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_aa805187f361412fa7b16ed0918e00e2.pdf" target="_blank">Merion Road Capital</a> - ($TRNS)</li><li><a href="https://millervalue.com/deep-value-strategy-2q20-letter/">Miller Value Fund</a> - ($BBBY, $NBR, $TMHC, $DXC).</li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q2_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a> - ($CRMLF, $CAR, $CCL, $REV, $CPXGF, $AZTEF)</li><li><a href="https://drive.google.com/file/d/1EY3GUJZn0WVXSuQy17mk1W5FYdOqL2Ry/view" target="_blank">MPE Capital</a> - ($WIX, $BRBOF).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/07/2020Q2.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($DOCU).</li><li><a href="https://drive.google.com/file/d/1vccfEmwX4ulExfEIrOE1IOB6uKeMU6QW/view" target="_blank">Nomadic Value Investment Partners</a></li><li><a href="https://www.nzscapital.com/s/NZS-Capital-Q2-2020-Letter.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2020/" target="_blank">Oakmark Fund</a> - ($RGA, $GD, $TMUS)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_a30dcf83719d44bba64d3b6e9f3f4345.pdf" target="_blank">Old West Investment Management</a> - ($FLGT).</li><li><a href="https://www.docdroid.net/bg0gNdv/pabrai-funds-q2-2020-pdf#page=7" target="_blank">Pabrai Funds</a></li><li><a href="https://www.palmvalleycapital.com/fundletter" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growt</a>h</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5f3b4cb88ea6a1347c012598/1597721787995/RF+Capital+Q2+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://www.rgaia.com/q22020-investment-commentary-the-tale-of-two-markets/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/67acd636-2e8e-4ba4-b038-d2c2d5805461/Rhizome_Partners_Q2_2020_Investor_Letter_Final.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q20.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($SNAP, $SHOP, $BILL, $AMZN, $TWLO, $CME, $IQV, $ZTS, $APO, $KKR, $MTN).</li><li><a href="http://riverpark%20large%20growth%20fund%20-%20%28%24snap%2C%20%24pins%2C%20%24uber%2C%20%24shop%2C%20%24bill%2C%20%24dxcm%2C%20%24rng%2C%20%24lmt%29.%20riverpark%20long/Short%20Opportunity%20Fund" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_2Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($BKNG, $BMT, $FB, $FLT)</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/08/Near-Term-Delusions-Long-Term-Collisions.pdf" target="_blank">RLT Capital</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan_Street_Capital_First_Half_2020_Letter.pdf" target="_blank">Rowan Street Capital</a> - ($SPOT)</li><li><a href="https://www.rvcapital.ch/post/co-investor-letter-h1-2020?cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6&utm_campaign=cadf75be-7334-4451-a092-5873c7ac02ac&utm_medium=mail&utm_source=so" target="_blank">RV Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c6eb517f46b24b9d8e9aad440f79ee19.pdf" target="_blank">Saga Partners</a></li><li><a href="https://www.saltlight.co.za/wp-content/uploads/2020/08/SaltLIght-2Q20-Letter-Final.pdf" target="_blank">SaltLight Capital</a> - ($COH.JO, CTK.JO)</li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ce3ae7fe-7fcc-4291-979b-4d30eb11a66a&Name=Q2_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="http://saturna%20capital%20saturna%20capital%20-%20amanafunds%20saturna%20capital%20-%20sextant%20funds/" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/b301205c-52a7-4f24-883c-1f3580537837/SilverRingValuePartners_2020Q2_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_7c247397881f467d9360d21885e78fb4.pdf" target="_blank">Spree Capital</a> - ($STNE, $WIX).</li><li><a href="https://srk-capital.com/content_files/2020/09/SRK-Fund-Q2-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/07/STJIC-Adviser-Letter-2020-Q2-Final.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $BSTC)</li><li><a href="https://taovalue.files.wordpress.com/2020/07/taovalue_2020_q2_final.pdf" target="_blank">Tao Value</a> - ($PDD, $YY, $AVLR, $CIH)</li><li><a href="https://langfrist.de/dokumente/H1_2020_E_Partners_Fund.pdf" target="_blank">TGV Partners Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAREX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TASCX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($WASH, $CKH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAVFX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Value Fund</a> - ($BKRIF, $IFSPF, $LUNMF, $CSFFF).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/08/Third-Point-Q2-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a> - ($BABA, $JD, $AMZN, $DIS, $PUK, $SPGI)</li><li><a href="https://drive.google.com/file/d/1nfnh_0ZD0IGbaB52zeQHGM4ESJTKJ5fQ/view" target="_blank">Tidefall Capital Management</a></li><li><a href="https://www.dropbox.com/sh/bkvnxsr7u27twgu/AABMPqyMuEORLDm6WSyqF7dla/Tollymore%20Q2%202020.pdf?dl=0" target="_blank">Tollymore Investment Partners</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q2.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202020%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f0dd29b6a8632767c30911b/1594741405126/Upslope+-+2020Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($RBA)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_61_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/07/VVP-Quarterly-Letter-20.06.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_a12f91a6fbfb4131afc3d1d848b4ae84.pdf" target="_blank">Wedgewood Partners</a> - ($AAPL, $BKNG, $BMY, $FB, $FLT)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Hickory Fund</a> - ($DLB)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/2q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5f0874ba8817e8400a707586/1594389693251/Quarterly+Letter+-+Q2+2020.pdf?utm_medium=email&_hsmi=91143433&_hsenc=p2ANqtz-8Ko2sOTz4bmQKkH-p3YIfULcolG5rwew-9bA1O9V_uN53WPygN_Q0fFs4scHhjzt3id6F-RguAoCQJ0AJnhDfYRrOHHA&utm_content=91143433&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">1st Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5eb05bb94b525e14b5bea7bc/1588616121738/Q1%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($GMS)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/04/Akre-Focus-Fund-Quarterly-Commentary-2020-Q1.pdf">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($EVBG, $EHTH, $QDEL, $CMD, $HSKA, $TCMD)</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a> - ($AMZN, $NVDA, $NFLX, $CBOE, $FB, $APPL, $V, $MDB).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/04/Alluvial-Capital-Management-Q1-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2020-q1.pdf">Alphyn Capital Management</a> - ($EXXRF, $BAM, $KKR, $BRFRF, $WANSF, $CDAY, $CFX, $OSSIF).</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5eab8f05c455f14a97fbcb32/1588301573873/Q1+2020+Alta+Fox+Capital+Quarterly+Letter-+Final+%281%29.pdf" target="_blank">Alta Fox Capital Management</a> - ($MMMB, $EVVTY, $GMMNF)</li><li><a href="https://drive.google.com/file/d/1y1uNGXNScAjx27rcd6yZf_U6GFWLtmVd/view">Andaz Private Investments</a></li><li><a href="https://ift.tt/2za22cd">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2020/02/APPLX-Q4-2019-Letter.pdf">Appleseed Fund</a> - ($HRTX, $NLY).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/45aea71a-f4d5-4f4b-98c2-44acc7934978/Arquitos_Investor_Letter_Q1_2020.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $SYTE, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($KMT, $NVST, $PGR).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/04/Arisaig-Quarterly-April-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTKX-APDKX-APHKX-QCommentary-1Q20-vR.pdf">Artisan International Value Fund</a> - ($BABA, $TCOM, $SLB, $TS, $SU, $SNE, $DANOY, $CNHI).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTMX-APDMX-APHMX-QCommentary-1Q20-vR.pdf">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTSX-APDSX-APHSX-QCommentary-1Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2020-partner-letter-X7QTZR97" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/04/Coronavirus-The-Cure-Is-Worse-Than-The-Disease.pdf">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.20.pdf">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.20.pdf" target="_blank">Baron Discovery Fund</a> - ($INGN, $QLYS, $FND, $SIEN, $PAR, $TXMD, $EVBG, $KTOS, $PENN, $AXNX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.30_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.2020.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.20.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_3_31_bca_scv_marketcomm_final.pdf" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $MEDP, $SP, $CNK, $PLOW, $CRNC, $TREE, $SERV).</li><li><a href="https://s3.amazonaws.com/bireme/1Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $BKNG, $WFC, $RICK, $KRG)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/04/Investor-Letter-Q1-20-FINAL.pdf">Blue Hawk Investment Group</a> - ($MSFT, $MTCH, $NFLX, $EA, $INTU, $ISRG, $V, $FB, $CHTR, $FND, $STZ, $NYT, $SPLK, $LULU).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e93edd2125a911e469ed339/1586752979541/2020+Q1.pdf">Blue Tower Asset Management</a></li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/762bb2f1-3530-4df8-9178-1acf0c0568f6/0520_Bonhoeffer_Partner_Letter_Q1_2020.pdf" target="_blank">Bonhoeffer Fund</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4595129/1Q_2020_BVG%20Letter.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=87095134&_hsenc=p2ANqtz-8G6GJm2tQ-xl7UIJ2SOoumqTKP4AhC-pkmfW5viIuwNsaxl8CcHOkHkKE0NZfnwUAC6TZZuSUzpyAM76WVz55zUySpCQ&_hsmi=87095134" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf1q20commentary.pdf">Brown Capital Management Mid Company Fund</a> - ($DXCM, $SHOP, $NCLH, $BFAM, $TDOC)</li><li><a href="https://browncapital.com/system/files/scf1q20commentary.pdf">Brown Capital Management Small Company Fund</a> - ($QDEL, $VEEV, $MANH, $PRO, $PLAN, $DDOG, $KIDS, $INCY).</li><li><a href="https://browncapital.com/system/files/ief1q20commentary.pdf">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q20commentary.pdf">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/04/Broyhill-Portfolio-Update-2020.Q1-FINAL.pdf" target="_blank">Broyhill Asset Management</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://cedcapital.in/wp-content/uploads/2020/04/Quarterly-PMS-Letter-Mar20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e85354c10a8a95136c22668/1585788237400/Q12020.pdf">Comus Investments</a></li><li><a href="https://www.crescat.net/wp-content/uploads/Q1-2020.pdf" target="_blank">Crestcat Capital</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/ecf4cd6f-3eb2-4b0c-8efb-1f9d281cfd7f/2020_Q1_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200331_Diamond-Hill_Small-Cap-Fund-Commentary.pdf">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/dcp_1q20_update" target="_blank">Distillate Capital</a></li><li>D<a href="https://mcusercontent.com/90031b83688dd5c83d79fcf31/files/a3202ae7-9dca-471c-94ed-340f07250b85/DKAM_ROE_Reporter_April_2020_.pdf" target="_blank">onville Kent Asset Management</a></li><li><a href="https://www.docdroid.net/kfBxxVh/elliot-letter-april-162020-perspectives-paul-singer-elliott-pdf#page=9">Elliot Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2020/" target="_blank">Ensemble Fund</a></li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2020.pdf">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/04/16115847/Client-Letter-Q1-2020_FINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://ift.tt/2VWR7dz" target="_blank">Firebird Management</a></li><li><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_Gold-Update.pdf" target="_blank">First Eagle Global Fund</a></li><li><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200331.pdf">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200331.pdf">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200331.pdf">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200331.pdf">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-03_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NBL, $VNOM, $ISBC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-update-q1-2020.pdf?sfvrsn=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/2020-3-fef-letter-to-shareholders.pdf?sfvrsn=12">Fundsmith Equity Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5e8f6c4e02b8fa04bead5904/1586457686283/GCAM+initial+letter+2020-03-27.pdf" target="_blank">Giverny Capital Asset Management</a> - ($GOOG, $GOOGL, $KMX, $BRK.B, $PGR, $SCHW, $SSNC, $HEI, $MKL, $ANET)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ea425773459dd34b66cf263/1587815799646/Greenhaven+Road+Letter+%282020+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($SHSP, $APPS, $KKR, $PAR, $KLR, $CSSE, $OPT)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.05.10-Confessions-v3.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4043042/Commentaries/2020.Q1%20Commentary/2020.Q1%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-1Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-1Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q1.pdf" target="_blank">Hayden Capital</a> - ($IBKR, $CVNA)</li><li><a href="http://m.heartlandadvisors.com/mid-cap-value-fund-q1-commentary.pdf" target="_blank">Heartland Mid Cap Value Fund</a> - ($WU, $PXD, $AAP)</li><li><a href="http://m.heartlandadvisors.com/select-value-fund-q1-commentary.pdf" target="_blank">Heartland Select Value Fund</a> - ($GRC, $CALM, $JNJ)</li><li><a href="http://m.heartlandadvisors.com/value-fund-q1-commentary.pdf" target="_blank">Heartland Value Fund</a> - ($MDU, $MDC,$EVTC)</li><li><a href="http://m.heartlandadvisors.com/value-plus-fund-q1-commentary.pdf" target="_blank">Heartland Value Plus Fund</a> - ($IDCC, $HTLD)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q1NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2020-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($BA, $ADM, $CRL, $ICE, $BTC).</li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q20.pdf" target="_blank">Horos Asset Management</a> - ($TGP, $TK, $GLNG, $AER, $NPSNY).</li><li><a href="https://www.dropbox.com/s/nqwe7xcvwjfxysy/Huffman%20Prairie%20-%201Q2020%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/02/2019-Annual-Letter-JDP-Capital-Management.pdf">JDP Capital</a> - ($SPOT, $STNE, $XPO)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5ea5f560592a27104f5c8cf0/1587934561140/Laughing+Water+Capital+Q1%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/ofrydh35bl0xctw/Lightsail%201Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/ltglobal-equity-fund/LTGEF_Latest.pdf">Lindsell Train</a>- ($WWE, $DIS, $DEO, $BF.A, $EBAY, $PYPL, $INTU)</li><li><a href="https://southeasternasset.com/commentary/1q20-llpf-commentary/">Longleaf Partners Fund</a> - ($H, $DD, $CTL, $CNHI, $PK, $CKHUY, $MAT).</li><li><a href="https://southeasternasset.com/commentary/1q20-llgl-commentary/">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llin-commentary/">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/04/2020-03-March-Performance-Update-Public.pdf">LRT Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a> - ($CSL).</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5ea1a3fb6d7e355e7a72a301/1587651580748/Maran+Partners+Fund+LP+2020+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20First%20Quarter%20Letter%20to%20Investors.pdf?utm_source=hs_email&utm_medium=email&utm_content=86138479&_hsenc=p2ANqtz-85M_ZqQO42g6PDwSL7bISxrDZM6OIQj5JzJ9uWzZx5Pf0pU87NtPhlX2MKkKLQ0F5775rJ5yF6-0W92JiA-wFdmFYs5g&_hsmi=86138479">Massif Capital</a></li><li><a href="https://www.mawer.com/assets/Newsletters/1Q20-Quarterly-Series-A-Net-1.pdf">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_b57612e6cdaa48429a600bdfe37560c4.pdf">Merion Road Capital</a> - ($CPRT, $EVBG, $RMCF)</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2020_03.pdf">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2020_03.pdf">Moneta MultiCaps C</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/04/2020Q1.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($GSK)</li><li><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2020/">Oakmark Fund</a> - ($AXP, $MTCH, $PINS, $WDAY)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2020/">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2020/">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d588a8b5d90047478bfcd71d0c8dd0a1.pdf">Old West Investment Management</a></li><li><a href="https://drive.google.com/file/d/1tD5XOGaM8cls4v95DSXFF131OYYpAMxE/view" target="_blank">Open Square Capital</a></li><li><a href="https://www.osam.com/pdfs/research/OSAM%20Update_Blizzard,%20Winter,%20or%20Ice%20Age_FINAL.pdf">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a> - ($AAP, $AGI, $BHE, $CRI, $CASS, $DKS, $EZPW, $GENC, $HCSG, $HP, $SLV, $KELYA, $OR, $SCHL, $SKX, $SP, $SYKE, $UNF, $UG, $WMK).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ABT, $BKNG, $FB, $ORLY, $ADSK, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5ea714f9981de6313a251243/1588008188839/RF+Capital+Q1+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/a591f71a-64ef-4ca1-80dc-2ea2a4646172/Rhizome_Partners_Q1_2020_Investor_Letter_Final.pdf">Rhizome Partners</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/04/Q1-2020-Investment-Commentary-FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($NUAN)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q20.pdf">RiverPark Large Growth Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_1Q20.pdf">RiverPark Long/Short Opportunity Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT, $COST, $APO, $KKR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_1Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($FAST, $KEYS, $MSFT, $ROSS).</li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan-Street-Capital-Q1-2020-Letter-1.pdf" target="_blank">Rowan Street Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_4ad59d00e289448cabcd6a61a130760e.pdf" target="_blank">Saga Partners</a> - ($AYX $CVNA $DBX $FB $LGIH $LIMAF $TTD $TRUP $VSEC $WIX)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q1-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q1-2020-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q1-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://moiglobal.com/wp-content/uploads/Semper-Vic-Partners-L.P.-Letter-to-Investors-April-2020.pdf" target="_blank">Semper Vic Partners</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ee82efca-a8be-4855-b3e0-e3ba3069a318&Name=Q1_2020_-_Investor_Letter">Sequoia Fund</a></li><li><a href="https://smeadcap.com/files/7915/8696/1388/1Q_2020_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://srk-capital.com/content_files/2020/05/SRK-Fund-Q1-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/04/STJIC-Adviser-Letter-2020-Q1.pdf">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ff8c300-0ef4-4034-914b-cbd5c86d581d/Steel_City_Capital_1Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/1Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a></li><li><a href="https://taovalue.files.wordpress.com/2020/05/taovalue_2020_q1_final-1.pdf" target="_blank">Tao Value</a> - ($GILD, $CACC, $ADS, $NXRT, $$BILI)</li><li><a href="https://static1.squarespace.com/static/54ce2abfe4b0513e12ea592f/t/5e886ec613e1233cd43c8cae/1585999558895/Templeton+and+Phillips+Commentary+-+March+2020.pdf">Templeton and Phillips Capital Management</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a> - ($CALM, $CET, $BATRA, $BATRK).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAVFX-Shareholder-Letter-Web.pdf">Third Avenue Value Fund</a> - ($BMWYY, $DB, $IFSPF, $HA, $ORI, $FDX, $VNO)</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/04/Third-Point-Q1-2020-Investor-Letter-TPOI-1.pdf" target="_blank">Third Point</a></li><li><a href="https://drive.google.com/file/d/1jshHJg_zQ30ZvmrU8iBTIBX9zE6CDtdo/view" target="_blank">Tidefall Capital Management</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q1.pdf">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202020%20-%20Final.pdf">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e99e67f7f671d105bf293af/1587144320124/Upslope+-+2020Q1+Letter.pdf" target="_blank">Upslope Capital Management</a></li><li><a href="https://www.docdroid.net/q7NxMcX/universa-investments-q1-2020-letter-pdf#page=6">Universa Investments</a></li><li><a href="https://mcusercontent.com/2686100c548ffa2b413d5cb29/files/3cb819ec-c2d9-4ff5-870b-cc86b4d93fbd/Vltava_Fund_Letter_to_Shareholders_Q1_2020.pdf">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/04/VVP-Quarterly-Letter-20.03.31.pdf">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q1-2020-REV-FNL.pdf">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200406/pdf/44gqxsc6q8zjdy.pdf">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f47cdae028142f1ade840f42986ab09.pdf">Wedgewood Partners</a> - ($FAST, $FB, $KEYS, $MSFT, $ROSS, $NVDA, $EA, $BKNG, $EW).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/1q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://mcusercontent.com/d194e1b3fd218137abdb074da/files/90c79ff7-93d3-49ac-9da6-1f1ea8209ae0/2020_04_16_White_Crane_Q1_2020_Letter.pdf">White Crane Capital</a></li><li><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/securepdfs/2020/04/23094734/Wolf-Hill-Q1-2020-Letter.pdf" target="_blank">Wolf Hill Capital</a> - ($HGV, $MIDD)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5ea1a3a3bc77342600cf7649/1587651493472/Worm+Capital+-+Q1+2020+Investor+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><span style="font-size: large;"><br /></span><span style="font-size: large;">4th Quarter 2019</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5e35af9e12c5156ca6085326/1580576670740/Q4%2719+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($ISDR, $RICK, $TSSI, $DPZ)</li><li><a href="https://drive.google.com/file/d/1ANcyf36aA9H83xfjYF3N5Z6Rc2YaS75q/view" target="_blank">2Point2 Capital</a></li><li><a href="https://gallery.mailchimp.com/f6660ee7c7b25c0643c0e8337/files/53f90575-0084-456e-b563-3e47282ae860/Admiral_Cap_4Q19_Letter.pdf">Admiral Capital Partners Fund</a> - ($CVNA, $GDDY, $GTT).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/01/Alluvial-Capital-Management-Q4-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $CRAWA, $BUKS, $NUVR, $LICT)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5e3633d4cd5a0d4354e18334/1580610521595/Q4+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q4.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://drive.google.com/file/d/1OSNsquPrryvmnAYEPpfK8VMGtb5qSILE/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://ift.tt/2TwwgOx" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($ARDX, $SAVE, $MOS, $SINA, $SNE, $RYAAY).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Funds</a> - ($CCL, $NLSN).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/APFDX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTMX-APDMX-APHMX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($SWKS, $TW, $CMS, $UA, $ABMD, $ZS, $BURL, $AMD, $ANET, $SERV, $DXCM).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTSX-APDSX-APHSX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTLX-APDLX-APHLX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2019-partner-letter-w57TvkLz" target="_blank">Artko Capital</a> - ($MO, $REPH, $GAIA, $RSSS)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/02/2020-02-17-Askeladden-Capital-Q4-2019-Letter-Breaking-Bad.pdf">Askeladden Capital</a></li><li><a href="https://content.rwbaird.com/RWB/Content/PDF/AssetManagement/Q3-2019-Mid-Cap-Growth-Mutual-Fund-Commentary.pdf">Baird MidCap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Asset Fund</a> - ($DXCM, $SAGE).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Discovery Fund</a> - ($PGNY, $ESPR, $SIEN, $SITE, $ICHR, $TXMD, $MRCY, $FSCT, $TCMD, $SCPPF, $OLLI, $BRP, $CDNA).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%2012.31.19_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Real%20Estate%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="http://www.bernzott.com/uploads/1/5/9/5/15953620/2019_12_31_bca_scv_marketcomm.pdf?utm_source=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $PLOW, $LOGM, $MG, $MIK, $CNK, $CTLT, $EPAM, $AGS).</li><li><a href="https://s3.amazonaws.com/bireme/4Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a> - ($KRG, $DNKN)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/01/Q4-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e2e81226ba9076709046053/1580106019545/2019+Q4.pdf" target="_blank">Blue Tower Asset Management</a></li><li><a href="http://boyarvaluegroup.com/bvg-pdf/4Q_2019_BoyarResearch.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=82628381&_hsenc=p2ANqtz-_eFJS4AvVpyZPJ93cqx7hT_a3Ecgy_iQ8I_KJWvq6pyI5hY8KWOrRF3lJXq2wgq7vsVrrVKm3ExXWqv88qtB2prmxWqg&_hsmi=82628381" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf4q19commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf4q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($VEEV, $GKOS, $TNDM, $SMAR).</li><li><a href="https://browncapital.com/system/files/ief4q19commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf4q19commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/02/The-Broyhill-Letter-2020.02-FINAL.pdf">Broyhill Asset Management</a></li><li><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2020/01/bumbershoot-holdings-2020-1-jan-letter-to-partners-2019-1.pdf" target="_blank">Bumbershoot Holdings</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://citronfund.com/wp-content/uploads/2020/01/Citron-Capital-Annual-Investor-Letter-for-2019.pdf" target="_blank">Citron Capital</a> - ($RH, $PTON).</li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2019+Q4+Letter.pdf">Coho Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e181bff65c626738a349429/1578638336674/FY2019.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($YUMC, $FRRVF, $PTC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5e3048cf9826d330d5c2854e/1580222671293/Q4+and+YE+2019+Letter.pdf" target="_blank">Curreen Capital</a></li><li><a href="https://danwang.co/2019-letter/" target="_blank">Dan Wang</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a>.</li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFAnnualReview.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYVFPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Midcap-Letter-4Q19.pdf" target="_blank">DF Dent Midcap Growth</a> - ($ODFL, $TWLO, $VEEV, $ANSS, $MCO, $CBRE, $VRSK, $VMC, $MKL).</li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Small-Cap-Letter-4Q19.pdf" target="_blank">DF Dent Small Cap Growth</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/191231_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/90031b83688dd5c83d79fcf31/files/48eecab4-b7af-4d56-8e05-f3d54f33d10f/DKAM_ROE_Reporter_January_2020_.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://www.nsx.com.au/ftp/news/021737727.PDF" target="_blank">East 72 Holdings</a></li><li><a href="https://gallery.mailchimp.com/dd77d6a119e511a93e9308144/files/98e445bf-1c22-4a23-8a6b-1d71d798899f/Edgebrook_Mid_Year_Letter_2019.pdf" target="_blank">Edgebrook Partners</a> - ($APEUF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2019/" target="_blank">Ensemble Fund</a> - ($PAYX, $BR)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2019.pdf">Evermore Global Value Fund</a> - ($IAC, $MTCH, $ANGI, $STNG, $KRA, $ENZ).</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15183252/Q4-2019-Broadview-Dark-Horse-Quarterly-Letter.pdf" target="_blank">Ewing Morris Dark Horse</a> - ($LQSIF)</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15170401/Q4-2019-Final-1.pdf" target="_blank">Ewing Morris Opportunities Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-12_final.pdf?sfvrsn=8">FPA Capital Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2019.pdf?sfvrsn=6" target="_blank">Fundsmith Equity Fund</a></li><li><a href="http://gatorcapital.com/wp-content/uploads/2020/01/GFP-Q4-Investor-Letter-Updated.pdf" target="_blank">Gator Capital Management</a></li><li><a href="http://www.givernycapital.com/en/doc/236/Giverny_Capital_-_Annual_Letter_2019_web_.pdf">Giverny Capital</a></li><li><a href="http://www.goodhavenfunds.com/media/pdfs/2019_AR.pdf" target="_blank">GoodHaven Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5e4703048934db2c06ec56ae/1581712134756/Greenhaven+Road+Letter+%282019+Q4%29.pdf">Greenhaven Road Capital</a></li><li><a href="https://www.scribd.com/document/443770600/Greenlight-Q4-2019#download&from_embed" target="_blank">Greenlight Capital</a> - ($AER, $AGO, $ATC, $BHF, $CC, $GM, $GRBK, $NFLX, $DXC).</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.01.23-Q4-Letter-v5.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-4Q19-Report.pdf">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2019/IE-4Q19-Report.pdf">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2019/ISC-4Q19-Report.pdf">Harding Loevner International Small Companies Equity</a> - ($GUZOF, $ALICORC1, $PGENY).</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-4Q19-Report.pdf">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q4.pdf">Hayden Capital</a> - ($SE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($LEG, $EXC, $UMBF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SCHW, $GTS, $CONE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TBBK, $AMRC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($ASB, $PAHC)</li><li><a href="http://www.hgcinvest.com/wp-content/uploads/2020/01/HGC-Arb-Letter-December-2019.pdf" target="_blank">HGC Investment Management</a> - ($GSAC, $DEAC).</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2019Q4NP.pdf">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q4-2019-Horizon-Kinetics-Commentary_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q19.pdf">Horos Asset Management</a></li><li><a href="https://www.dropbox.com/s/wj5xngs5dpjc0la/Huffman%20Prairie%20-%202H2019%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a> - ($PKE)</li><li><a href="https://l1international.com/wp-content/uploads/2020/01/L1-Capital-International-Fund-Quarterly-2019-12.pdf" target="_blank">L1 Capital International Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5e3b0e94a8e0ad4a457d4a5e/1580928660765/Laughing+Water+Capital+YE+2019.pdf">Laughing Water Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/lt-uk-fund/2019/LTUK_MR_2019_12.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5e33310f6cac3d0b6f0a070d/1580413200079/4Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $CTEK, $SFE, $PESI)</li><li><a href="https://southeasternasset.com/commentary/4q19-llpf-commentary/">Longleaf Partners Fund</a></li><li><a href="https://www.lyricalam.com/wp-content/uploads/2020/01/LAM-2019-Review-letter.pdf" target="_blank">Lyrical Asset Management</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5e323c32f8043d0750f9a1f1/1580350515744/Maran+Partners+Fund+LP+2019+Q4+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RNGR, $SDI).</li><li><a href="https://www.mcmadvisors.com/wp-content/uploads/2020/01/Martin-Capital-Management-2019-Annual-Report.pdf" target="_blank">Martin Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Year%20End%20Letter.pdf?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-8wWAtvLCSJ92jhQUdjS_UF5sLUTcGZPdtnlxPMJfKIFGmlgVgnj1U2Yj9GHeBoCbudkm9l" target="_blank">Massif Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_4b6d6eb57e724504b2acd6925fe444a6.pdf" target="_blank">Merion Road Capital</a> - ($TTWO, $ODP)</li><li><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf">Miller Value Fund</a> - ($FTCH, $ET, $CDEV).</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2019_12.pdf" target="_blank">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2019_12.pdf" target="_blank">Moneta MultiCaps C</a></li><li><a href="https://drive.google.com/file/d/1HXfARV-D0Ty0LjixHFdMQc9keEOyV3XN/view" target="_blank">MPE Capital</a> - ($CACC).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/01/2019-Nelson-Roberts-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($IBM)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Fourth-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_1eee8738221f439bacc164cda1472ccf.pdf">Old West Investment Management</a> - ($GOLD)</li><li><a href="https://www.osam.com/pdfs/research/Q4%202019%20Investor%20Letter%20-%20FINAL.pdf" target="_blank">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmharbourcapital.com/files/PHC%20Q4%202019%20Letter.pdf" target="_blank">Palm Harbour Capital</a></li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_7f7cfd9362f1496597164ec1ee5a1757.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/dab30c88-52e6-425d-94a0-2f672f543d3f/4Q19%20Parnassus%20Core%20Equity%20Fund%20Commentary.pdf">Parnassus Core Equity Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/fc4897bd-50cb-43fb-9296-bddb814716c6/4Q19%20Parnassus%20Mid%20Cap%20Fund%20Commentary.pdf">Parnassus Mid Cap Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $CRM, $ABT, $NOW, $ORCL).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Global Growth</a> - ($MSFT, $BABA, $ABT)</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5e66d8317891847c6cd48c38/1583798321575/RF+Capital+Q4+2019+Investor+Letter.pdf">RF Capital Management</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/01/2019-Year-End-Commentary_FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($ANGI, $DBX, $GRUB, $TWTR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($AAPL, $UNH, $BX, $MSFT, $ADSK, $SDC, $TWTR, $NOC, $TDC, $TWLO).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_4Q19.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_4Q19_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/01/Dont-Cha-Know.pdf" target="_blank">RLT Capital</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Fund.pdf">RMB Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Small-Cap-Fund.pdf">RMB Small Cap Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-SMID-Cap-Fund.pdf">RMB SMID Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/aaf68a26-7a10-4c45-bfe1-fb0cb97b85d1/Saber_Investment_Fund_Q4_2019_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c69e35b055894d1aad827cde8423bc2f.pdf">Saga Partners</a> - ($TTD, $LIMAF, $FB, $LGIH, $VSEC, $CVNA)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q4-2019-web.pdf">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q4-2019-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q4-2019-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://static.fmgsuite.com/media/documents/c388840b-3dda-41da-a062-077bf785255b.pdf">Semper Augustus</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=7a947f03-c188-49d6-b32f-9cddfe5ebb9a&Name=Q4_2019_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://gallery.mailchimp.com/57cdfc490b101d54b70128c06/files/a813a300-8f68-43cb-8b3d-2fa28aed58fb/SilverRingValuePartners_2019Q4_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/files/9315/7910/2122/4Q_2019_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://www.socialcapital.com/annual-letters/2019.pdf">Social Capital</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_d91d278701ba4b21afd564ffabb36d1f.pdf" target="_blank">Spree Capital</a> - ($RST, $MTCH, $FERGY).</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2019-Annual-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($TARO, $EGRX, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2020/02/taovalue_2019_q4_final.pdf">Tao Value</a></li><li><a href="https://www.langfrist.de/dokumente/2019_e_Rubicon_full.pdf" target="_blank">TGV Rubicon Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($GPOR.L, $HHC, $PSA, $VNO, $SRG, $FPH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BMWYY, $DB, $MAC).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/01/Third-Point-Q4-2019-Letter-TPOI-Final.pdf" target="_blank">Third Point</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2019-Q4.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://mcusercontent.com/2506bda6ca9a8b7ce8b3c54b4/files/0c17bc16-6a20-4c24-8459-53e800315fe7/TARF_2019_Annual_Commentary_vFinal.pdf" target="_blank">Tyro Capital Management</a> - ($MO, $REPH, $SKY, $SMCI, $MTCH, $UBSFF, $BXC, $MYOV)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e209a872cfe3e653d0bd4bd/1579195017065/Upslope+-+2019Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FOCS, $DLTR)</li><li><a href="https://www.dropbox.com/s/lgqbpo4oownzo5m/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q4%202019%20%28V1.1%29.pdf?dl=0&utm_source=The+Vilas+Fund%2C+LP&utm_campaign=d48e03b6f7-4Q2019+Main&utm_medium=email&utm_term=0_d81d32d2af-d48e03b6f7-431110445" target="_blank">Vilas Fund</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_58_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200108/pdf/44d49tnm31r1hz.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_b41d00a2669749f4babb2c468e820ecd.pdf" target="_blank">Wedgewood Partners</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners III Opportunity Fund</a> - ($SIRI, $LSXMB, $EVREF).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/ds32xz73grnzqbxdargxzancsg91q7it" target="_blank">White Brook Capital</a></li><li><a href="https://gallery.mailchimp.com/d194e1b3fd218137abdb074da/files/a8558333-dad0-40c8-8abd-8468fb20e0f9/2020_01_21_WCMSF_Q4_2019_Letter.pdf" target="_blank">White Crane Capital</a></li><li><a href="https://www.docdroid.net/tJT1NRd/wolf-hill-2019-year-end-letter.pdf" target="_blank">Wolf Hill Capital</a> - ($CNR, $REGI, $WTSHF)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5e1d007471426f2f29068da4/1578958966239/Worm+Capital+2019+Year+End+Letter.pdf" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">3rd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/10/Alluvial-Capital-Management-Q3-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $LICT, $NUVR, $APTL, $NORSA, $PIOE, $MHGU, $ITD.IM, $EDAC.IM, $SIO.IM)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5db8fdd21b54db1101ac3c18/1572404691231/Q3+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($KRMD, $KYYWF, $STKS)</li><li><a href="https://www.docdroid.net/I8sosdq/andaz-notes-2019-09-30.pdf" target="_blank">Andaz Private Investments</a> - (CBS.B, $VIAB)</li><li><a href="https://ift.tt/35Tb1KD" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($SINA, $WB, $MOS, $SAVE, $ARDX, $SNE, $RYAAY)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/eb95b5c5-e141-4f87-b0d5-95d5e1a7a2a5/Arquitos_Investor_Letter_Q3_2019.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BX, $BWA, $DIFTY, $ZBH)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTMX-APDMX-APHMX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($ALXN, $EXAS, $GDI, $GWRE, $CTLT, $BURL, $PAGS, $LHX, $ANET, $ASND)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTSX-APDSX-APHSX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-3q-2019-partner-letter-EvrTnLGB" target="_blank">Artko Capital</a> - ($FTK, $LEAF, $SKY, $USAT, $EEI, $SPAR)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/11/2019-10-28-Askeladden-Capital-Q3-2019-Letter-Earn-It.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Asset Fund</a> - ($CCC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Discovery Fund</a> - ($TXMD, $FND, $TREX, $MRCY, $KNSL $VRAY, $SILK, $BE, $CDNA, $TPIC, $MDLA, $PING, $WMS, $VRNS, $INGN)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Investor%20-%20Baron%20Small%20Cap%20Fund%203Q19.pdf" target="_blank">Baron Small Cap Fund</a> - ($CDAY, $CCC, $COLD)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $SP, $PLOW, $OI, $AGS, $QUOT,$ CTLT, $EPAM, $KN, $CLDR, $AGS, $GNRC)</li><li><a href="https://s3.amazonaws.com/bireme/3Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $COKE)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/10/Q3-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($SFIX, $GRUB, $MTCH, $NFLX)<span id="goog_146329209"></span><a href="https://www.blogger.com/"></a><span id="goog_146329210"></span></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5dad22ac218aa17443c4035b/1571627692663/2019+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2d3eecc8-c31e-45c7-8c24-e0e1a8269ac3/1019_BCM__Partner_Letter_Q3_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $CAMB.LN)</li><li><a href="https://browncapital.com/system/files/scf3q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($TYL, $MANH, $ABMD, $INGN)</li><li><a href="https://browncapital.com/system/files/mcf3q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a> - ($EW, $TYL, $ALGN, $ULTA, $MKTX, $CRL, $JBHT)</li><li><a href="https://browncapital.com/system/files/ief3q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a> - ($CZMWF, $ESLOY, $QGEN, $IPSEF, $MONOY)</li><li><a href="https://browncapital.com/system/files/iscf3q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/10/2019-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> ($RUBI, $BXC, $HOME, $QMCO)</li><li><a href="https://drive.google.com/file/d/1jzHBEfehpV9TfzwFhiGl91UMVtnGwWjS/view">Compound Everyday Capital</a></li><li><a href="https://gallery.mailchimp.com/a6cd0be2415ea775a57718587/files/14809e7f-2f16-4cb8-8fb3-8c589f63c6ed/50._Q3_2019.pdf" target="_blank">Compound Money Fund</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5db88acf71786e4ef3228683/1572375248129/2019Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($IPGLF, $NVST, $A, $FRC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5da0d2a16603d478b62581b4/1570820769906/Q3+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($GTX, $KTB, $MFGP, $BLD)</li><li><a href="https://davisfunds.com/downloads/DFFInterview.pdf" target="_blank">Davis Financial Fund</a></li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a> - ($JD, $AMAT)</li><li><a href="https://davisfunds.com/document/read/DNYPMComm" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/bf83181f-b69f-4ece-a640-a4007c15ed07/Q3_2019_Investor_Letter_Desert_Lion_Capital.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/190930_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/10/E72-Quarterly-Report-Sept-2019.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $DTLA, $FFXDF, $VULC, $PICO)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2019/" target="_blank">Ensemble Fund</a> - ($MA, $TIF)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2019.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2019/10/07164955/Quarterly-Update-Q3-2019.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/funds/shrpt/ann_shrpt_093019.pdf" target="_blank">Fiduciary Management FMI Large Cap</a> - ($HDS)</li><li><a href="https://t.co/3lQBLZ89rY?amp=1" target="_blank">Firebird Management</a> - ($LNC, $GES)</li><li><a href="https://focusedcompounding.com/wp-content/uploads/2017/06/Q3_2019_Letter_to_Clients-1.pdf" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI, $TPHS, $KEWL, $MLP)</li><li><a href="https://www.asx.com.au/asxpdf/20191011/pdf/449dftp5k138nd.pdf" target="_blank">Forager Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2019-q3b0f6f4531b0367849d6cff0000f7084a.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-09.pdf?sfvrsn=8" target="_blank">FPA Capital Fund</a> - ($AMBA, $NBL, $DAN, $IDCC)</li><li><a href="http://gatorcapital.com/wp-content/uploads/2019/10/GFP-Q3-Investor-Letter.pdf" target="_blank">Gator Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5daa7eaeab96a61181bef76f/1571454639744/Greenhaven+Road+Letter+%282019+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($NTDOY, $CSSE, $KKR, $BXC, $APPS, $PAR, $SHSP, $GIGRT, $GIGWS)</li><li><a href="https://www.docdroid.net/hM7Tnw8/qlet2019-032.pdf" target="_blank">Greenlight Capital</a> - ($NFLX, $TSLA, $CC)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.11.14-Q3-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://ift.tt/34FFgn5" target="_blank">Goehring & Rozencwajg</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q3.pdf" target="_blank">Hayden Capital</a> - ($CACC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a></li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SAFM, $MHK, $CVS)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($VST, $LNDC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a></li><li><a href="https://www.docdroid.net/pCmtahr/hellerhouseopportunityfund-2019q2letter-public.pdf#page=17" target="_blank">Heller House Opportunity Fund</a> - ($SHOP $WORK $ROKU)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://www.dropbox.com/s/l24e3ilw0j2kkyq/Lightsail%203Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/investment-insights/2019/Are%20You%20Experienced%20-%20November%202019.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5db9dbd123316d682a695a20/1572461522295/3Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $PSSR, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/3q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CTL, $GOOG, $GOOGL, $CMCSA, $GE, $FDX, $FRFHF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5db9f8173907823b364ebba8/1572468760093/Maran+Partners+Fund+LP+2019+Q3+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RCMT)</li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Third%20Quarter%20Letter%20to%20Investors.pdf" target="_blank">Massif Capital</a> - ($DO, $TOO, $EAF, $DE, $UNP, $CSX, $NCLH)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_adb2e39184484fd5a9374a1b8ddad5fe.pdf" target="_blank">Merion Road Capital</a> - ($HXL, $IAA, $TRNS)</li><li><a href="https://www.hvst.com/organization/meson-capital-partners-llc/posts/meson-q3-update-man-vs-machine-wPZT3xZx" target="_blank">Meson Capital</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2019Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/10/2019-Q3-Nelson-Roberts-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($SIVB, $SCHW, $AKAM, $PFE, $DLR)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Third-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a> - ($GOOG, $CHTR, $DDAIF, $APA)</li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_fe35b044b6f9420aa65670c4b7dfbf7f.pdf" target="_blank">Old West Investment Management</a></li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_2044e47207184e0a96223be92f96d4b5.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.B, $CRD/B, $GENC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $IT, $MSCI)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a> - ($ALGN, $ABT, $SGSOY)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a> - ($TREX, $FND, $LMAT, $FOXF, $OLLI, $TREE, $APPF, $ALTR)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://files.constantcontact.com/07cbbb80601/d7746d56-0340-44ba-b2d3-fb41d43a159a.pdf" target="_blank">Rangeley Capital</a> - ($CHTR)</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5db930e3f152967e525fbd89/1572417764733/RF+Capital+Q3+Letter+2019.pdf" target="_blank">RF Capital Management</a> - ($FL, $GAPFF, $ZAGG, $GME, $GTX)</li><li><a href="http://www.rgaia.com/q32019-investment-commentary-kambi/" target="_blank">RGA Investment Advisors</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($GOOG, $BX, $AAPL, $NOC, $EQIX, $EXAS, $ALGN, $AMZN, $SDC, $ULTA, $TWLO)</li><li><a href="http://www.rmbcap.com/files/RMB_Core_Equity_-_Investor_Letter_3Q19.pdf" target="_blank">RMB Core Equity Fund</a></li><li><a href="https://themarketplunger.com/2019/11/12/q3-2019-letters/" target="_blank">Rockvue Capital</a> - ($UAA, $FOX)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/4d8542a4-48be-4664-bc79-6506621e8100/Saber_Investment_Fund_Q3_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_7f9545a28a0a48129a7920980b5b2f27.pdf" target="_blank">Saga Partners</a> - ($VSEC)</li><li><a href="https://sevencanyonsadvisors.com/resources/seven-canyons-world-innovators-quarterly-commentary/" target="_blank">Seven Canyons World Innovators</a></li><li><a href="https://docs.wixstatic.com/ugd/de07f6_0c03e7d62d824ca98a96fa974471a7fb.pdf" target="_blank">Spree Capital</a> - ($CFX, $CARS)</li><li><a href="https://srk-capital.com/content_files/2019/11/SRK-Fund-Q3-2019.pdf" target="_blank">SRK Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($SLGD, $BSTC, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2019/10/taovalue_2019_q3_final.pdf" target="_blank">Tao Value</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/11/2019-Q3-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($CLNY, $GWW, $HNGKY)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CTB, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2019/10/Third-Point-Q3-2019-Letter-TPOI-.pdf" target="_blank">Third Point Offshore Fund</a> - ($ESLOY, $SNE)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5da981abd30f37336bb612b3/1571389868322/Tollymore+letter+Sep+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($GRUB)</li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Fund</a> - ($KRNTY, $FOX $FOXA, $TBABF, $BIDU)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5da09b01c80d065ebaf8d703/1570806531156/Upslope+-+2019Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($IT)</li><li><a href="https://www.dropbox.com/s/vsrenaad14f2bxa/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q3%202019%20%28Final%29.pdf?dl=0&utm_source=Website+Signup+-+Vilas+Capital+Management%2C+LLC&utm_campaign=8004c87a9b-3Q2019+Ltr_Web&utm_medium=email&utm_term=0_0fbdf27fc5-8004c87a9b-431098533" target="_blank">Vilas Capital</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_57_en.pdf" target="_blank">Vltava Fund</a> - ($BRK.A, $BRK.B, $SBRCY, $BMWYY)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_03b9a051772a4b9792c849ed7f74150a.pdf" target="_blank">Wedgewood Partners</a> - ($CDW, BRK.B, $NVDA, $ULTA)</li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/3Q19_Value%20Matters.pdf?1572140971546" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/4giogadrnt294d6q8t3a4awtxhrkjmjh" target="_blank">White Brook Capital</a> - ($BOX, $GRPN)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5db752012422566f6f7f86a4/1572295170818/Q3+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><div><br /></div></div><span style="font-size: large;">2nd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/07/Alluvial-Capital-Management-Q2-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $NUVR, $MMAC, $RAMPF, $CLWY, $CMLS, $FTR)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5d3a2ee5c694120001688a00/1564094184541/Q2+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($PAYS, $KWS, $NTDOY)</li><li><a href="https://www.dropbox.com/s/19lcbm48spw3g9c/Andvari-2019q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MLAB, $UPLD, $APPN, $BL, $WDAY, $TYL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/08/APPLX-Q2-2019.pdf" target="_blank">Appleseed Fund</a> - ($CRTO, $SINA)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAZ, $TAP, $MTSC)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/6b4ee586-4e8c-4044-a1be-d9f30c4f9e34/Arquitos_Investor_Letter_Q2_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTMX-APDMX-APHMX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTSX-APDSX-APHSX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-2q-2019-partner-letter-EvrTnmKZ" target="_blank">Artko Capital</a> - ($CCNI, $JYNT, $WFCW, $FLL, $NRCGW)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/07/2019-06-29-Askeladden-Capital-Q2-2019-Letter-Askeladden-Reloaded.pdf" target="_blank">Askeladden Capital</a> - ($FC, $AER, $DLTH, $LGIH, $SFM, LQDT)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $IDXX, $SSNC, $BNFT, $IRDM, $FDS, $ACGL, $RRR, $TWOU, $CVET, $ADPT, $ALEC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $ACGL, $CHH, TSLA, $BNFT, $MANU)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($IDXX, $JBT, $SITE, $TTD, $BFAM, $GTT, $RRR, $CISN, $PRA, $CVET, $TREX)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_6_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $GNRC, $BV, $CLDR, $SSTK, $MIK, $EPAM, $SNPS, $LOGM, $INOV, $CARB, $MINI)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-2q19-quarterly-letter" target="_blank">Bireme Capital</a></li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/07/Q2-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $GRUB, $TRIP)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5d350ce2e13121000110246f/1563757795868/2019+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($CNR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/8ef5fe82-9246-4fdd-afb3-8bb4681ebb8b/0719_BCM_Partner_Letter_Q2_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $GTN)</li><li><a href="https://browncapital.com/system/files/scf2q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf2q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief2q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/07/2019-Q2-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($DEST, $BXC, $PAR)</li><li><a href="https://www.docdroid.net/IereKR2/coho-capital-2019-q2-letter.pdf" target="_blank">Coho Capital</a> - ($GDDY)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5d1909fa11a9570001ea18c8/1561922043505/2019Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FISV, $FRRVY, $FRRVF, $TTNDY)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5d2fbf4e8b4dd7000199603e/1563410254409/Q2+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($KTB)</li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/5fd3b3ea-7001-4c07-8d63-f95d455af921/Q2_2019_Desert_Lion_Capital_Letter.02.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/07/E72-Quarterly-Report-June-2019.pdf" target="_blank">East 72 Holdings</a> - ($AFTPF, $ADS)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2019/" target="_blank">Ensemble Fund</a> - ($BR, $SBUX, $FAST, $FRC, $GOOG)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($DIS, $BORR, $STING)</li><li><a href="https://www.ewingmorris.com/wp-content/uploads/2019/07/Q2-2019-Letter-vFINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2019/iso_lc_20190630.pdf" target="_blank">Fiduciary Management FMI Large Cap</a></li><li><a href="http://ift.tt/2lCHEK9" target="_blank">Firebird Management</a> - ($BV, $KSS)</li><li><a href="http://bit.ly/2IVHtCO" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q2-2019.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-06_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5d44bf055832920001fa4381/1564786438422/Greenhaven+Road+Letter+%282019+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($KKR, $APPS, $PAR, $SHSP, $ETSY, $NTDOY)</li><li><a href="https://www.docdroid.net/nGef9ZE/greenlightq2letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.08.19-Q2-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q2.pdf" target="_blank">Hayden Capital</a> - ($CMPR, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($RDN, $VST, $CALX)</li><li><a href="https://www.dropbox.com/s/5nuv7dwl1ciblrv/Lightsail%202Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5d46e8a04cbc950001226b6c/1564928160433/2Q19+letter.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $DAIO, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/2q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CMCSA, $GE, $AMG, $CTL, $HCMLY\$HCMLF, $CHKGF, $CNHI, $FDX, $MAT, $CNX) - ($CBLLF, $DE)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5d3b26b6b5cb710001c505e5/1564157623654/Maran+Partners+Fund+LP+2019+Q2+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $WLK, $BXC, $SVIN, $BH)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2019/07/MVIP-2Q19-Letter-FINAL.pdf" target="_blank">Mar Vista Investment Partners</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5d2dd3b02daa030001a79d58/1563284400621/Massif+Capital+Second+Quarter+Letter+to+Investors.pdf" target="_blank">Massif Capital</a> - ($CBLLF, $DE)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_109a2c968fa84fa2afd22765e9af9374.pdf" target="_blank">Merion Road Capital</a> - ($IAA, $KAR, $MHH)</li><li><a href="https://www.brookvine.com.au/wp-content/uploads/2019Q2_Mittleman-Global-Value-Equity-Fund_Qtrly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/13kJJaxTuFCpNSOGStboGQFTDcl6ywMQq/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q2-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ROP, $DLR, $PFE) </li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_704bd79f605041f3920f5f06d726faf1.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.A\$CRD.B, $CWGL, $NGS, $WMK, $UG, PTVCA\PTVCB, $AE, $DOX, $SCHL, $GENC)</li><li><a href="https://pershingsquareholdings.com/wp-content/uploads/2019/08/2019-Semiannual-Financials-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q2-2019-investment-commentary/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://gallery.mailchimp.com/bca5bc00638aa58b6cada7fab/files/3f913a70-cf19-4e27-8a1c-42a613be3200/Rhizome_Partners_Q2_2019_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($ADBE, $AMZN, $FIVE, $ISRG, $GOOG\$GOOGL, $FB, $AAPL, $BX, $EXAS, $MSFT, $DIS, $PANW, $TDC, $ADSK, $COG)</li><li><a href="https://themarketplunger.com/2019/08/10/2q-2019-letter/" target="_blank">Rockvue Capital</a> - ($EAF, $TH, $UAA)</li><li><a href="https://www.rvcapital.ch/wp-content/uploads/2019/08/Co-Investor_Letter_H1_2019-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/a676b819-a092-4246-8284-74178e0a6fa9/SIF_2019_07_19_Investor_Letter.04.pdf" target="_blank">Saber Capital Management</a> - ($FB, $WFC)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_cee76b8ab55c40bcbc31421f7759ca6f.pdf" target="_blank">Saga Partners</a> - ($TTD, $LIMAF, $FB, $TRUP, $UA)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_58cdbf3f06da4d9b9bfc3dfba3366371.pdf" target="_blank">Spree Capital</a> - ($CVET, $BB, $QCOM)</li><li><a href="https://assets.empirefinancialresearch.com/uploads/2019/07/EFD-7-1-Stanphyl-Capital-Letter-June-2019.pdf" target="_blank">Stanphyl Capital Management</a> - ($TSLA, $AVNW, $WSTL)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $BSTC, $ELMD)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5d1b720139ab94000119388b/1562079747536/Tollymore+letter+June+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($BID)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5d2cb4770f60db0001b4a56c/1563210872722/Upslope+-+2019Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FLIR, $HGV, $COKE, $PACK)</li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_56_en.pdf" target="_blank">Vltava Fund</a> - ($AN)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_d88728c47e5442b9aa1f1d731c89ef5b.pdf" target="_blank">Wedgewood Partners</a> - ($ALC, $BRK.B, $SCHW, $CTSH, $EA, $MSI, $ODFL)</li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1570807813238" target="_blank">Weitz Value Fund</a></li></ul></div><br /><span style="font-size: large;">1st Quarter 2019</span><br /><br /><div><ul><li><a href="https://gallery.mailchimp.com/b5aa12c5c889b46c0f8288f6d/files/a791ca4e-e5b2-4a25-b606-0d1d6c95f384/Alluvial_Capital_Management_Q1_2019_Letter_to_Partners_04.22.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $APTL, $IEHC, $HICKA)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7b8f29e3a8d0001860027/1556592883034/Q1+2019+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL - $PAYS, $JYNT, $RMBL, $STKS). <a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7baa5eb39310fecbc7bdf/1556593318315/Alta+Fox+STKS+Long+4.28.19.pdf" target="_blank">Full Pitch</a> on $STKS)</li><li><a href="https://www.dropbox.com/s/rax170rmix70bir/Andvari-2019q1-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($UPLD, $TLRA, $WDAY, $V, $MA, $TYL, $MKL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/05/2019-APPLX-semi-annual-letter.pdf" target="_blank">Appleseed Fund</a> - ($SKM, $ERJ)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($AXE, $KMX, $ZBRA)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/680d1b4b-376f-4a4a-9324-af9ff3abe4dd/Arquitos_Investor_Letter_Q1_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2019-partner-letter-wy9TLMel" target="_blank">Artko Capital</a> - ($REPH, $NRCGW, $GAIA, $EEI, $LEAF)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%203.31.19.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $SSNC, $IRDM, $ANSS, $NEOG)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $H, $IRDM, $GWRE, $TSLA, $BNFT, $CHH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%203.31.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($TTD, $TDG, $FND, $GWRE, $HUD, $OEC, $PRTY, $BJRI, $CCC, $OSW, $CCX.U)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAM, $SSTK,$VRNT, $MIK, $QUOT, $MG, $BV)</li><li><a href="https://bluehawkinvestors.com/q1-2019-investor-letter/" target="_blank">Bluehawk Investors</a> - ($MTCH, $FND)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-1q19-quarterly-letter" target="_blank">Bireme Capital</a> - ($AAPL, $BKNG)</li><li><a href="https://browncapital.com/system/files/scf1q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf1q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief1q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/05/2019-Q1-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $USX)</li><li><a href="https://drive.google.com/file/d/1YUpNRWvSGBBLMymAbEXUoOCqFON2ENEJ/view">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ca171d41905f4c611b9202c/1554084308682/2019Q1letter.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SHMZF, $APH, $FRRVY, $FRRVF, $DHR, BAM, $SAPIF)</li><li><a href="https://www.nsx.com.au/ftp/news/021736732.PDF" target="_blank">East 72 Holdings</a> - ($ING, $MKL, $Y)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2019/" target="_blank">Ensemble Fund</a> - ($LSTR, $GOOG, $GOOGL)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($BDRBF, $KRA)</li><li><a href="https://t.co/YPShTxBhfj" target="_blank">Ewing Morris</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-2019-q1.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-03.pdf?sfvrsn=6" target="_blank">FPA Capital Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5cc366e74442bb0001c72482/1556309735923/Greenhaven+Letter+%282019+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $APPS, $KKR, $ETSY, $SHSP, $BOX, $EVI, $FCAU, $CSSE)</li><li><a href="https://www.docdroid.net/H7KPSVZ/greenlight-capital-q1-2019.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.05.23-Q1-Letter-Building-Gamma.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-1Q19-Report.pdf" target="_blank">Harding Loevner Global Small Cap Equities</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-1Q19-Report.pdf" target="_blank">Harding Loevner Global Equities</a> - ($KHC, $NSRGY, $LYFT, $WBC, $VRTX)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($BRY, $ARAY, $NWPX, $CCS, $FSLR)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q1.pdf?utm_source=Hayden+Capital&utm_campaign=fc6ae8918e-EMAIL_CAMPAIGN_2019_05_12&utm_medium=email&utm_term=0_aae4c81ce6-fc6ae8918e-103558831" target="_blank">Hayden Capital</a> - ($SE, $ZLPSF)</li><li><a href="http://www.horancm.com/sites/default/files/users/horancm/Portfolio%20Activity%201Q2019.pdf" target="_blank">Horan Capital Management</a> - ($MTN, $ATVI, $BKNG, $AAPL, $THO, $TCEHY, $GOOG, $FB)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($K, $PEP, $NFLX, $AMZN, $TPL)</li><li><a href="https://jdpcap.com/wp-content/uploads/2019/05/1Q-2019-Presentation-.pdf" target="_blank">JDP Capital Management</a> - ($XPO, $TK, $SPOT)</li><li><a href="https://www.docdroid.net/3VOAy5K/laughing-water-capital-q1-2019.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/1brj1hqavl9r08n/Lightsail%201Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a> - ($DRTTF)</li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5caf96756e9a7f50f6f03ec5/1555011190189/1Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $EVI, $CTEK)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/1Q19-Longleaf-Partners-Commentary.pdf" target="_blank">Longleaf Partners Fund</a> - ($GE, $MAT, $WYNN, $CTL, $HCMLY, $CHKGF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5cbdecde53450adb9a30dde5/1555950815790/Maran+Partners+Fund+LP+2019+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5cb5d9ccf9619acd0cf39f4e/1555421645754/Massif+Capital+First+Qtr+2019+Letter+to+Investors.pdf" target="_blank">Massif Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_b0cee1afd831423facf7f964eeada115.pdf" target="_blank">Merion Road Capital</a> - ($FCPT, $SLGG)</li><li><a href="https://www.docdroid.net/ostq4If/2019-q1-midwood-q1-2019-investor-letter.pdf" target="_blank">Midwood Capital Partners</a> - ($NXST, $DRTTF, $RCM, $LMB, $REPH)</li><li><a href="https://millervalue.com/bill-miller-1q-2019-market-letter/?dtr" target="_blank">Miller Value Partners</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q1-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($HD)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0319.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://assets.pershingsquareholdings.com/2019/05/17082807/Pershing-Square-Holdings-Ltd.-Q1-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a> - ($ADP, $QSR, $LOW, $SBUX, $HLT, $UTX, $HHC, $FNMA, $FMCC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q12019-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($GRUB)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/24185410-368c-44bd-a930-4a9d92e88bf9/SIF_2019_04_20_Investor_Letter.pdf" target="_blank">Saber Capital Management</a> - ($AAPL. $FB, $TCEHY)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_28dd8002fdf344a382a093d989c5b0f5.pdf" target="_blank">Saga Partners</a> - ($TRUP)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_21e9c90b285a4116ae4312cc1bb1bdbd.pdf" target="_blank">Spree Capital</a> - ($ROKU, $FTDR, $EBAY, $ALRM, $ZAYO)</li><li><a href="https://www.docdroid.net/QBav0xn/summers-value-partners-1q19-investor-letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $CVET, $SLGD, $ELAN, $KHTRF)</li><li><a href="https://mailchi.mp/ltfunds/templeton-and-phillips-investment-commentary-1q19-india" target="_blank">Templeton and Phillips Capital Management</a> - ($FFXDF, $HDB)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5cdd1d38e79c70fa76c315b2/1557994809354/Tollymore+letter+May+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRIP, $SE)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAREX-1Q19-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($INTU.L, $NWHM, $JBGS)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TASCX-1Q19-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($AGX)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAVFX-1Q19-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCC, $TDW, $EXP, $MHK)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5cb8894071c10b5b67e05353/1555597643395/Upslope+-+2019Q1+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($ATR, $YETI, $BLD)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1557519727747" target="_blank">Weitz Investment</a><span id="goog_1812407177"></span><a href="https://www.blogger.com/"></a><span id="goog_1812407178"></span> - <a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/Analyst%20Corner_CarMax.pdf?1557519727747" target="_blank">An Introduction to CarMax, Inc.</a> - $KMX</li></ul></div><br /><br /><span style="font-size: large;">4th Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5c509321f950b7176a5db508/1548784418298/Q4+2018+Alta+Fox+Capital+Quarterly+Letter+Final.docx.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/01/Alluvial_Capital_Management_Q4_2018_Letter_to_Partners_01.24.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $MMAC, $RAMPF, $AMNF)</li><li><a href="https://www.dropbox.com/s/53g8vs2pt3cpv4o/Andvari-2018q4-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MA, $TYL)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/" target="_blank">Ariel Funds</a> - ($ATGE, $AMG, $KN)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/9d0f05b1-9864-4bfe-84ff-d97cd237714e/Arquitos_Investor_Letter_Q4_2018.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2018-partner-letter-wnLTNPM6" target="_blank">Artko Capital</a> - ($JYNT, $SMED, $AFCN, $USAT, $PRIXQ, $SPAR)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%2012.31.18_3.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_12_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($HRC, $TRS, $CLH, $SSTK, $CMP, $CTLT, $EPAY, $MEDP, $ELY, $MIK, $MG, $SRCL)</li><li><a href="https://choice-equities.com/wp-content/uploads/2019/02/2018-Q4-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $DEST, $UA, $CMG)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5c2ca3e0aa4a995f08caea24/1546429409931/FY2018.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($BAM, $PTC, $SIRI, $PYPL, $HEI)</li><li><a href="http://east72.com.au/wp-content/uploads/2019/01/E72-Quarterly-Report-Dec-2018.pdf" target="_blank">East 72 Holdings</a> - ($AER, $EXXRF, $VIRT)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2018/" target="_blank">Ensemble Fund</a> - ($SCHW, $ST)</li><li><a href="https://www.evansandpartners.com.au/sites/default/files/InternationalFundQuarterly_December2018.pdf" target="_blank">Evans and Partners International Fund</a> - ($SKFOF, $RELX, $MMM, $GOOG, $V, $ADDYY, $AON)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/fpa-capital-fund-annual-report_03-31-19_web-ready.pdf?sfvrsn=4" target="_blank">FPA Capital Fund - Annual Report</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/crescent-fund-annual-report-web-ready-(12-31-18).pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2018.pdf" target="_blank">Fundsmith Equity Funds</a> - ($PM, $FB, $SBUX, $MSFT) - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="http://www.goodwoodfunds.com/wp-content/uploads/Goodwood-Annual-Report-2018.pdf" target="_blank">Goodwood Funds</a> - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5c4bc50842bfc120277fb927/1548469513395/Greenhaven+2018+Q4+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $KKR, $YELP, $BOX)</li><li><a href="https://drive.google.com/file/d/1W8cHASX6-hodil8f2KsnZdbWwkERXCjw/view" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.01.15-Q4-2018-Letter-vFinal.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q4.pdf" target="_blank">Hayden Capital</a> - ($MPNGF, $CVNA, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS, $NWPX, $ARAY)</li><li><a href="https://static1.squarespace.com/static/59a07c7b7131a5b68981e4d5/t/5cc7c1aaf56535000156ba28/1556595115918/Lightsail+2Q+2018+Letter.pdf" target="_blank">Lightsail Capital management</a> - ($DRTTF)</li><li><a href="https://www.valuewalk.com/2019/02/mittleman-brothers-4q18-clear-media/" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/1TmrJPz9OlvLmGBSiADH7ggUOs544pllr/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/01/Nelson-Roberts-2018-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ZTS)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_1218.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/2018-year-end-investment-commentary-easy-come-easy-go/" target="_blank">RGA Investment Advisors</a> - ($ROKU, $CGNX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/Co-Investor_Letter_2018-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_ae6d4d06c60344d8b7971326501d9b65.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LGIH, $FB)</li><li><a href="https://drive.google.com/file/d/1YKnOvM33MFTIEO_rnU9ZmOBQczTSqLd0/view" target="_blank">Sebids Capital</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAREX-4Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($DLN.L, $WY, $ZION, $PNC Warrants)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TASCX-4Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CUBI, $MYRG, $ATNI)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAVFX-4Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($DWDP, $DDAIF, $ANFGF)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5c3cb0b540ec9ab9b9fd10f0/1547481270127/Tollymore+letter+December+2018.pdf" target="_blank">Tollymore Investment Partners</a> - ($UHAL, $GYM.LN, $ITEGY, $TRIP, $TRUP)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5c38b8cb4fa51a28ba9f70a0/1547221197096/Upslope+-+2018Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($EVR, $BLD, $JE.LN, $DLTR, $KWR, $YETI, $MKTX, $TSLA)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global</a></li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/4Q18_Value%20Matters.pdf?1557519727747" target="_blank">Weitz Investment</a></li><li><a href="http://wiedowercapital.com/files/Letter2018.pdf" target="_blank">Wiedower Capital</a> - ($TRUP, $JD, $ISDR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/33abc1df-abe9-49a8-aef3-cc6058c2948d/WOSF_Partner_Letter_January_22_2019.pdf" target="_blank">Willow Oak Select Fund</a> - ($BEL)</li></ul><br /><br /><div><span style="font-size: large;">3rd Quarter 2018</span></div><br /><div style="font-family: "times new roman"; margin: 0px;"><div style="font-family: "Times New Roman";"><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5bc79a54eef1a1e334de4634/1539807830450/Q3+2018+Alta+Fox+Capital+Quarterly+Letter+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($XPEL, $TPNL, $UWN)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q3-2018-Letter-to-Partners-10.29.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $OTEL, $MMAC, $CTRA, $BXC, $RAMPF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-3q-2018-partner-letter-X34TP2Oe" target="_blank">Artko Capital</a> - ($TWNKW, $RSSS)</li><li><a href="https://www.baronfunds.com/sites/default/files/Quarterly%20Report%209.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $SSTK, $MIK, $PLOW, $GNTX, $OI, $APAM, $QUOT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/11/2018-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($LAWS, $BECN, $BXC, $YELP, $DEST)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5bb318fa15fcc0a9cd511971/1538463995185/2018Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FTV, $FERGY, $CCF, $ROP, $FRC, $AMADY, $CMCSA, $SIRI, $AON)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2018/" target="_blank">Ensemble Fund</a> - ($TRUP, $BKNG)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5be1e3a60e2e72c05e5cdd4b/1541530534947/Greenhaven+Road+-+2018+Q3+Final_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $TRIP, $YELP, $EVI, $BOX)</li><li><a href="https://www.docdroid.net/MfMnIs3/greenlight-capital-q3-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.10.10-Q3-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TRIP, $TI)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q3.pdf" target="_blank">Hayden Capital</a> - ($MKL, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TLRY, $BRY, $SRCI, $AXAS, $CCS)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/3Q18-Longleaf-Partners-Funds-Shareholder-Letter.pdf" target="_blank">Longleaf Partners Fund</a> - ($CTL, $BEL, $OCINF)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0918.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/U.S.%20Small%20Company%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/q32018-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($PYPL, $WBA)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_890d215dee47497ba91e2a46ad7aa95a.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAREX-3Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($BKG.L, $JBGS, $CHKGF)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/11/TASCX-3Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $ASIX, $MYRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAVFX-3Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($TDW, $CHKGF, $BZZFF, $DB)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5bc894958165f5a62a1e5c6a/1539871893976/Upslope+-+2018Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($CWH, $TSLA, $MKTX)</li></ul></div></div><div style="font-family: "times new roman"; margin: 0px;"><br /></div><br /><span style="font-size: large;">2nd Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5b57bd2988251bd8777d5ee0/1532476738546/Q2+2018+Alta+Fox+Capital+Quarterly+Letter.docx.pdf" target="_blank">Alta Fox Capital Management</a> - (T$PNL, $XPLT)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q2-2018-Letter-to-Partners-7.20.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $SCOO, $NUVR, $MMAC)</li><li><a href="https://www.dropbox.com/s/ga6p199nuv30j9i/Andvari-2018q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($TTD, $APPN, $TCEHY, $MKTX, $GOOG)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAKE, $TISI, $TGNA)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-2q-2018-partner-letter-wARTJpDv" target="_blank">Artko Capital</a> - ($EEI, $ROSEW/ROSEU, $WFCF, $FRD)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%206.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_6_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $KN, $OI, $APAM, $CNK, $PLOW, $MIK, $CSOD, $EXLS)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/464760b7-cb8c-4974-98ae-c9ff09e5f2c8/0718_BCM_Partner_Letter_Q2_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($KT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/08/2018-Q2-CEF-Investor-Letter_WEBSITE-PDF.pdf" target="_blank">Choice Equities Fund</a> - ($CMG, $REED, $BECN)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5b38349e2b6a280422fa91ba/1530410142957/2018Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SAPIF, $TTNDY, $MKSI, $CMCSA, $PNR, $CIGI, $BAX, $SPGI)</li><li><a href="http://east72.com.au/wp-content/uploads/2018/07/E72-Quarterly-Report-June-2018.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $UCPLF, $ELFIF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2018/" target="_blank">Ensemble Fund</a> - ($LB, $PBH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q2-letter_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://gatorcapital.com/wp-content/uploads/2018/07/20180723-GFP-2018-Q2-Letter.pdf" target="_blank">Gator Capital Management</a> - ($AMP)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5b5b790daa4a9904b4e75eb0/1532721421547/Greenhaven+%282018+Q2%29_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $YELP, $CSSE)</li><li><a href="https://www.docdroid.net/xz9WkeV/greenlight-capital-q2-2018-letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.07.18-Q2-2018-Letter-v2.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TI)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS)</li><li><a href="https://www.docdroid.net/KyxH0f8/laughing-water-capital-h118.pdf" target="_blank">Laughing Water Capital</a> - ($EZPW, $FCAU, $CDMO, $CWH, $RMNI/$RMNIW)</li><li><a href="https://www.docdroid.net/PctUQHa/maran-partners-fund-lp-2018-2q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $LOV)</li><li><a href="https://drive.google.com/file/d/1n2UY-hQd8QEPzidhsQFL2lyeBngGsdPw/view" target="_blank">MPE Capital</a></li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0618.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/US-Small-Company-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/08/Q2-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($EQIX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2018/07/Co-Investor_Letter_H1_2018-EN.pdf" target="_blank">RV Capital</a> - (AddLife, PSG Group)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_6b3f18269c334631a75ac584d4276af6.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAREX-2Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FPH, $LEN)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TASCX-2Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAVFX-2Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCTPF, $KKWFF, $BCAUY, $HA</li><li><a href="http://wiedowercapital.com/files/Letter1H18.pdf" target="_blank">Wiedower Capital</a> - ($JD)</li></ul><br /><div><br /><span style="font-size: large;">1st Quarter 2018</span><br /><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q1-2018-Letter-to-Partners-4.23.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $OTEL, $LICT, $MMAC $BXC)</li><li><a href="https://www.docdroid.net/90TaM6T/arquitos-investor-letter-q1-2018.pdf" target="_blank">Arquitos Capital Management</a> - ($SYTE, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-1q-2018-partner-letter-wPZT33Kb" target="_blank">Artko Capital</a> - ($HTM, $GAIA, $HDSN, $SKY)</li><li><a href="https://doc.morningstar.com/Document/a444b3ab802f4a0c076025c4dee1cd5a.msdoc/original?clientid=globaldocuments&key=52dbc583e1012395" target="_blank">Ariel Funds</a> - ($KEYS, $MHK, $OAK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $ELY, $EPAY, $CMP, $MIK, $MG)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2249ec23-e80d-46a8-9f65-846264852383/0418__BCM_Partner_Letter_Q1_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TI, $TOO)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ada7a78575d1f52aa6e679d/1524267640733/2018Q1.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SPGI, $CME, $CMCSA, $SPB)</li><li><a href="https://www.docdroid.net/S613L8e/1q-2018-dane-investor-letter.pdf" target="_blank">Dane Capital Management</a> - ($DSKE, $IEA, $LAZY, $LMB, $YTRA, $EVI)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2018/" target="_blank">Ensemble Fund</a> - ($NFLX, $DNOW)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q1-letter_vfinal.pdf#page=2" target="_blank">FPA Capital Fund</a> - ($WDC, $TEN, $ALGT)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q1-2018-vfinal.pdf#page=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ae7bf98f950b7272142f5c2/1525137305236/Greenhaven+2018+Q1+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $BXC)</li><li><a href="https://www.docdroid.net/K95Fju3/greenlight-capital-q1-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.05.11-Q1-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $RYCEY, $VIVHY)</li><li><a href="https://www.docdroid.net/81jd56q/laughing-water-capital-q1-2018.pdf" target="_blank">Laughing Water Capital</a> - ($BXC, $OCN, $TRC, $GHL, $ITI, $GAIA)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Documents/1Q18-Longleaf-Partners-Quarterly-Summary-Report-All-Funds.pdf" target="_blank">Longleaf Partners</a></li><li><a href="https://www.docdroid.net/eFTaTcE/maran-partners-fund-lp-2018-1q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $IAC, $ATTO)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0318.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/05/Q1-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($DIS, $RAMP)</li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q18.pdf" target="_blank">RiverPark Large Growth Fund</a></li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rpfvf/commentary/RiverPark_Focused_Value_1Q18_SH_Letter.pdf" target="_blank">RiverPark Focused Value Fund</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_64caf8ca6a264972923df8b202415b9a.pdf" target="_blank">Saga Partners</a> - ($ESI, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAREX-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($AKR, $SRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TASCX-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($FRPH, $WEDXF. $SMHI)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAVFX-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BDRLF, $KKWFF, $BMWYY)</li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2018/04/VVP-Quarterly-Commentary-18.03.31.pdf" target="_blank">Vulcan Value Partners</a></li></ul></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-2378882220014272023-08-10T12:10:00.014-04:002023-08-10T13:57:47.749-04:00Full Lists of Investment Letters<script async="" crossorigin="anonymous" src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-1039680221405690"></script>
<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">2nd Quarter 2023</span>
<hr />
<h2><span style="font-weight: normal;">If you enjoy going through 13-F filings, take look at </span><span><i><u><a href="https://lettersandreviews.blogspot.com/p/q1-2023-13f.htm" target="_blank">Q1 2023</a></u></i></span><span style="font-weight: normal;"> and </span><span><i><u><a href="https://lettersandreviews.blogspot.com/p/q2-2023-13f.html" target="_blank">Q2 2023</a></u></i></span><span style="font-weight: normal;"> for the </span><span style="font-weight: normal;">13-F Fillers</span><span style="font-weight: normal;"> i read on regular basis.</span></h2>
<h2><span style="font-weight: normal;">Enjoy!!!</span></h2>
<br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th>
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<tr><td><a href="https://east72.com.au/wp-content/uploads/2023/07/E72DT-QUARTERLY-REPORT-June-2023.pdf">East72 Dynasty Trust</a></td><td>7/07/2023</td><td><a href="https://roic.ai/company/BOIVF " target="_blank">BOIVF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2023-q2.pdf">Alphyn Capital Management</a></td><td>7/07/2023</td><td><a href="https://roic.ai/company/CCOI " target="_blank">CCOI </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/AHT.L" target="_blank">AHT.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/64a734066dcfd15ae831186e/1688679432494/Q22023.pdf">Comus Investments</a></td><td>7/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://stjic.com/wp-content/uploads/2023/07/STJIC-Adviser-Letter-2023-Q2-Final-3.pdf">St. James Investment Company </a></td><td>7/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.vltavafund.com/dopisy-akcionarum/zurich">Vltava Fund</a></td><td>7/07/2023</td><td><a href="https://roic.ai/company/STLA" target="_blank">STLA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_51c6f24f7bb44b9a92003b6f0b42cc1e.pdf">Palm Valley Capital Fund</a></td><td>7/10/2023</td><td><a href="https://roic.ai/company/AAP " target="_blank">AAP </a><a href="https://roic.ai/company/TBI " target="_blank">TBI </a><a href="https://roic.ai/company/LSDAF " target="_blank">LSDAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.oldwestim.com/_files/ugd/718a37_95b4414b769d4c70bc0ab51eab53b64b.pdf">Old West Capital Management</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/SMRT" target="_blank">SMRT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rowanstreet.com/post/rowan-street-1h-2023-letter">Rowan Street Capital</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fmimgt.com/fmi/corp/Letters/iso_20230630.pdf">Fiduciary Management Inc.</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/RHI " target="_blank">RHI </a><a href="https://roic.ai/company/CDW " target="_blank">CDW </a><a href="https://roic.ai/company/RHHNY" target="_blank">RHHNY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.akrefund.com/wp-content/uploads/2023/07/Akre-Focus-Fund-Quarterly-Commentary-2023-Q2-v2.pdf#page=1">Akre Focus Fund</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonInvestorsFund-ISL.pdf">Madison Investors Fund</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/ANTM" target="_blank">ANTM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q23-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/HAS " target="_blank">HAS </a><a href="https://roic.ai/company/SRCL " target="_blank">SRCL </a><a href="https://roic.ai/company/CNC" target="_blank">CNC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q23-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/MHK " target="_blank">MHK </a><a href="https://roic.ai/company/BHE " target="_blank">BHE </a><a href="https://roic.ai/company/HCSG" target="_blank">HCSG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q23-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/HCSG " target="_blank">HCSG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2023_05_12.pdf">Myrmikan Research</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://distillatecapital.com/wp-content/uploads/2023/07/Q2-2023-Letter.pdf">Distillate Capital</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.righttailcapital.com/_files/ugd/9593df_6143b8b86c1a46c9b232c0d65e624c2f.pdf">Right Tail Capital</a></td><td>7/13/2023</td><td><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="http://covestreetfunds.com/wp-content/uploads/2023/07/CSCAX_2023-06-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/SNEX " target="_blank">SNEX </a><a href="https://roic.ai/company/DCO " target="_blank">DCO </a><a href="https://roic.ai/company/SCWX " target="_blank">SCWX </a><a href="https://roic.ai/company/LTRPA " target="_blank">LTRPA </a><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/GLDD " target="_blank">GLDD </a><a href="https://roic.ai/company/GLDD " target="_blank">MPAA</a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-fund-second-calendar-quarter-2023/">Oakmark Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/BAX " target="_blank">BAX </a><a href="https://roic.ai/company/CSL " target="_blank">CSL </a><a href="https://roic.ai/company/CE " target="_blank">CE </a><a href="https://roic.ai/company/FCNCA " target="_blank">FCNCA </a><a href="https://roic.ai/company/IQV" target="_blank">IQV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-calendar-quarter-2023/">Oakmark Global Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/CRBG " target="_blank">CRBG </a><a href="https://roic.ai/company/DHR " target="_blank">DHR </a><a href="https://roic.ai/company/IQV " target="_blank">IQV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-calendar-quarter-2023/">Oakmark Global Select Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/COP " target="_blank">COP </a><a href="https://roic.ai/company/DHR" target="_blank">DHR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-calendar-quarter-2023/">Oakmark International Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/BMWYY " target="_blank">BMWYY </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/BMRI.JK " target="_blank">BMRI.JK </a><a href="https://roic.ai/company/RCRUY" target="_blank">RCRUY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-second-calendar-quarter-2023/">Oakmark International Small Cap Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/OSP2.DE" target="_blank">OSP2.DE</a><a href="https://roic.ai/company/NENTF " target="_blank">NENTF </a><a href="https://roic.ai/company/AHEXY " target="_blank">AHEXY </a><a href="https://roic.ai/company/SPNS" target="_blank">SPNS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-calendar-quarter-2023/">Oakmark Select Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/COP" target="_blank">COP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/635cafa2259a125cc55eae33/t/64aeb0347a63bf404bec0f6f/1689169973044/Atai+Capital+-+Q2-2023+Letter.pdf">Atai Capital Management</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/ALOT " target="_blank">ALOT </a><a href="https://roic.ai/company/BELFB " target="_blank">BELFB </a><a href="https://roic.ai/company/ATVI" target="_blank">ATVI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonDividendIncome-ISL.pdf">Madison Dividend Income Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/UPS" target="_blank">UPS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonMidCap-ISL.pdf">Madison Mid Cap Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/WAT" target="_blank">WAT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSmallCap-ISL.pdf">Madison Small Cap Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/CNM" target="_blank">CNM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSustainableEquityFund-ISL.pdf">Madison Sustainable Equity Fund</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.whitefalconcap.com/_files/ugd/2e6ec1_134f96345d4f4f9ca9521d533e80503c.pdf">White Falcon Capital Management</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/NU " target="_blank">NU </a><a href="https://roic.ai/company/AMD " target="_blank">AMD </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TECK " target="_blank">TECK </a><a href="https://roic.ai/company/EPAM" target="_blank">EPAM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.pzena.com/wp-content/uploads/2023/07/PzenaNewsletter-Commentary-2Q23.pdf">Pzena Investment Management</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://docsend.com/view/a8nbr8v3n6s7ed77">Silver Beach Capital</a></td><td>7/14/2023</td><td><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/PLYA " target="_blank">PLYA </a><a href="https://roic.ai/company/GOOGL" target="_blank">GOOGL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2023/07/2Q-2023-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td>7/16/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2023/07/2Q-2023-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td>7/16/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_de721e68b6be4003b8533df450414c01.pdf">Merion Road Capital</a></td><td>7/16/2023</td><td><a href="https://roic.ai/company/EDR " target="_blank">EDR </a><a href="https://roic.ai/company/DSGR" target="_blank">DSGR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/64b6a25dbbf2f715cae4fc8b/1689690717776/Q2%2723+letter.pdf">1 Main Capital Partners</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/DNTL.TO " target="_blank">DNTL.TO </a><a href="https://roic.ai/company/IWG " target="_blank">IWG </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/LMB " target="_blank">LMB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://lvsadvisory.com/wp-content/uploads/2023/07/LVS-Advisory-Letter-Q2-2023.pdf">LVS Advisory</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/GOGO " target="_blank">GOGO </a><a href="https://roic.ai/company/IBKR " target="_blank">IBKR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://img1.wsimg.com/blobby/go/c10d5993-4abc-4a97-baea-c72b4e5c6857/Q2%202023-1dd60db.pdf">Ace River Capital</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/DSHK " target="_blank">DSHK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.claret.ca/wp-content/uploads/2023/07/Quarterly-Letter-Q2-2023-Claret-1-1.pdf">Claret Asset Management</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://wedgewoodpartners.com/wp-content/uploads/2023/07/Wedgewood-2QLetter.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/AAPL" target="_blank">AAPL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://files.constantcontact.com/e71b08bb301/d50a4b57-8d54-49ac-a5de-32a3e9c57fc2.pdf?rdr=true">Bernzott Capital Advisors</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/GDEN " target="_blank">GDEN </a><a href="https://roic.ai/company/ENOV " target="_blank">ENOV </a><a href="https://roic.ai/company/COOP " target="_blank">COOP </a><a href="https://roic.ai/company/PLXS" target="_blank">PLXS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/64b56fc992a88971c9cb86e0/1689612233690/Upslope+-+2023Q2+Letter.pdf">Upslope Capital Management</a></td><td>7/19/2023</td><td><a href="https://roic.ai/company/GRMN " target="_blank">GRMN </a><a href="https://roic.ai/company/JPXGY " target="_blank">JPXGY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2023Q2.pdf">Frontaura Global Frontier Fund LLC </a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/QUINENCO.SN" target="_blank">QUINENCO.SN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.ithakagroup.com/_files/ugd/a80814_a83373b314134311bc35e514aa6e65bc.pdf">The Ithaka Group</a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/MSFT " target="_blank">MSFT </a><a href="https://roic.ai/company/PODD " target="_blank">PODD </a><a href="https://roic.ai/company/MELI " target="_blank">MELI </a><a href="https://roic.ai/company/PYPL" target="_blank">PYPL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-6.30.23.pdf">Baron Health Care Fund</a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/BSX " target="_blank">BSX </a><a href="https://roic.ai/company/VEEV " target="_blank">VEEV </a><a href="https://roic.ai/company/EXAS " target="_blank">EXAS </a><a href="https://roic.ai/company/LEGN " target="_blank">LEGN </a><a href="https://roic.ai/company/ACLX" target="_blank">ACLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-6.30.23.pdf">Baron Real Estate Fund</a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/EQIX " target="_blank">EQIX </a><a href="https://roic.ai/company/DLR " target="_blank">DLR </a><a href="https://roic.ai/company/IBP" target="_blank">IBP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.whitebrookcapital.com/copy-of-1q2023-commentary">Whitebrook Capital Partners </a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/U" target="_blank">U</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.okeefestevens.com/quarterly-investor-letter-q2-2023/">O'Keefe Stevens</a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/SPHR " target="_blank">SPHR </a><a href="https://roic.ai/company/BOWL" target="_blank">BOWL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.cohopartners.com/insights/portfolio-insights/">Coho Relative Value Equity</a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/CVS " target="_blank">CVS </a><a href="https://roic.ai/company/DG " target="_blank">DG </a><a href="https://roic.ai/company/USB " target="_blank">USB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://gbcvalue.com/wp-content/uploads/2023/07/2023-Q2_Gehlen-Braeutigam-Value-HI-–-Letter-to-Partners-20-EN.pdf">Gehlen Bräutigam Capital GmbH</a></td><td>7/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/54951a51-028a-4a5d-18f6-0d673ba638e9/Second_Quarter_2023_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-6.30.23.pdf">Baron Asset Fund</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/MORN " target="_blank">MORN </a><a href="https://roic.ai/company/BAH " target="_blank">BAH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets-global.website-files.com/61665daf5ae71578a6b4b2e4/64b49921ebc2eda6da3a8796_30062023%20CI%20AUSTRALIAN%20EQUITIES%20FUND.pdf">Cooper Investors CI Australian Equities Fund</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/WOR.AX " target="_blank">WOR.AX </a><a href="https://roic.ai/company/AZJ.AX " target="_blank">AZJ.AX </a><a href="https://roic.ai/company/IFT.AX " target="_blank">IFT.AX </a><a href="https://roic.ai/company/EBO.NZ " target="_blank">EBO.NZ </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets-global.website-files.com/61665daf5ae71578a6b4b2e4/64b09aac6f638e1c0303815b_30062023%20CI%20GLOBAL%20EQUITIES%20FUND%20(HEDGED).pdf">Cooper Investors Global Equity Fund (Hedged)</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/ULTA " target="_blank">ULTA </a><a href="https://roic.ai/company/CDW " target="_blank">CDW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets-global.website-files.com/61665daf5ae71578a6b4b2e4/64b099f1e096311aefca341a_30062023%20CI%20GLOBAL%20EQUITIES%20FUND%20(UNHEDGED).pdf">Cooper Investors Global Equity Fund (Unhedged)</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tidefallcapital.com/_files/ugd/8a849d_8e5c8bcf0e6c4a7fabe7dd73af5f70a9.pdf">Tidefall Capital Management</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/FHN " target="_blank">FHN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mooncap.com/2023-q2-letter/">Moon Capital</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/FHN " target="_blank">FHN </a><a href="https://roic.ai/company/CNQ " target="_blank">CNQ </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://alluvialcapital.com/wp-content/uploads/2023/07/Alluvial-Capital-Management-Q2-2023-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/LTKBF " target="_blank">LTKBF </a><a href="https://roic.ai/company/PLPC " target="_blank">PLPC </a><a href="https://roic.ai/company/MCHB " target="_blank">MCHB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/64badaa2b743f43df05f5d0f/1689967267033/Q2+2023+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/PROM " target="_blank">PROM </a><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/SODI" target="_blank">SODI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mindsetvalue.substack.com/p/the-mindset-value-wellness-q2-2023?utm_source=post-email-title&publication_id=64257&post_id=134871715&isFreemail=true&utm_medium=email">Mindset Value Wellness Fund</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/GFUSF " target="_blank">GFUSF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://hoisington.com/pdf/HIM2023Q2NP.pdf">Hoisington Investment Management</a></td><td>7/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervalue.com/market-weighing-machine-long-term/">Miller Deep Value</a></td><td>7/24/2023</td><td><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/WAL " target="_blank">WAL </a><a href="https://roic.ai/company/GTN" target="_blank">GTN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervalue.com/income-strategy-2q-2023-letter-2/">Miller Income Strategy</a></td><td>7/24/2023</td><td><a href="https://roic.ai/company/RILY " target="_blank">RILY </a><a href="https://roic.ai/company/OMF " target="_blank">OMF </a><a href="https://roic.ai/company/MPW " target="_blank">MPW </a><a href="https://roic.ai/company/JXN " target="_blank">JXN </a><a href="https://roic.ai/company/VALE " target="_blank">VALE </a><a href="https://roic.ai/company/OGN" target="_blank">OGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2023.pdf">L1 Capital Long Short Fund</a></td><td>7/24/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/64be05444e524004b004387b/1690174788158/2023+Q2.pdf">Blue Tower Asset Management</a></td><td>7/24/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://l1international.com/wp-content/uploads/2023/07/L1-Capital-International-Jun-2023-Quarterly.pdf">L1 International Capital Fund</a></td><td>7/24/2023</td><td><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.deepsailcapital.com/_files/ugd/50dba3_782c984edfbc410697bfba78ea0233b1.pdf">Deep Sail Capital</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/RCMT " target="_blank">RCMT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/07/2023_2Q_Commentary_CE.pdf">Aristotle - Core Equity</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/SNPS" target="_blank">SNPS</a><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/07/2023_06_Portfolio-Commentary_FG.pdf">Aristotle - Focus Growth</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/SPGI " target="_blank">SPGI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/07/2023_2Q_Commentary_IE.pdf">Aristotle - International Equity ADR</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/07/2023_2Q_Commentary_LCG.pdf">Aristotle - Large Cap Growth</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/SPGI " target="_blank">SPGI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/resource/small-cap-equity-2q-2023-c/">Aristotle - Small Cap Equity</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/GXO " target="_blank">GXO </a><a href="https://roic.ai/company/CRNC " target="_blank">CRNC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/07/2023_2Q_Commentary_SMID.pdf">Aristotle - Small/Mid Cap Equity</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/GXO " target="_blank">GXO </a><a href="https://roic.ai/company/POOL" target="_blank">POOL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/07/2023_2Q_Commentary_VE.pdf">Aristotle - Value Equity</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/ATVI" target="_blank">ATVI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/SWRBY " target="_blank">SWRBY </a><a href="https://roic.ai/company/SVAUF " target="_blank">SVAUF </a><a href="https://roic.ai/company/BOWFF " target="_blank">BOWFF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/SUI" target="_blank">SUI</a><a href="https://roic.ai/company/JLL " target="_blank">JLL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/HRIBF " target="_blank">HRIBF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/f68301a3-96e3-5152-903f-7d566bd3dd9a/SilverRingValuePartners_2023Q2_Letter_7_17.pdf">Silver Ring Value Partners</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://ensemblecapital.com/wp-content/uploads/2023/07/ECM-Quarterly-Letter-2Q23.pdf">Ensemble Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/NOW" target="_blank">NOW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202306/Commentary-Small-Cap-Fund-2023-06-30.pdf?c=638259774730000000">Diamond Hill Small Cap Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/UFPT " target="_blank">UFPT </a><a href="https://roic.ai/company/CALM " target="_blank">CALM </a><a href="https://roic.ai/company/ASH " target="_blank">ASH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td>7/26/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/04/Portfolio-Commentary_Large-Cap-Q2-2023_Russell-1000.pdf">The London Company - Large Cap</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/RSG " target="_blank">RSG </a><a href="https://roic.ai/company/ALB" target="_blank">ALB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/04/Portfolio-Commentary_Mid-Cap-Q2-2023_Russell-Midcap.pdf">The London Company - Mid Cap</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/VMC " target="_blank">VMC </a><a href="https://roic.ai/company/LII " target="_blank">LII </a><a href="https://roic.ai/company/UNF " target="_blank">UNF </a><a href="https://roic.ai/company/SWKS " target="_blank">SWKS </a><a href="https://roic.ai/company/CINF" target="_blank">CINF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/04/Portfolio-Commentary_Small-Cap-Q2-2023_Russell-2000.pdf">The London Company - Small Cap</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/MATX " target="_blank">MATX </a><a href="https://roic.ai/company/MUSA " target="_blank">MUSA </a><a href="https://roic.ai/company/ENOV " target="_blank">ENOV </a><a href="https://roic.ai/company/NGVT " target="_blank">NGVT </a><a href="https://roic.ai/company/AUB " target="_blank">AUB </a><a href="https://roic.ai/company/CTS " target="_blank">CTS </a><a href="https://roic.ai/company/CABO " target="_blank">CABO </a><a href="https://roic.ai/company/CWST " target="_blank">CWST </a><a href="https://roic.ai/company/MRTN" target="_blank">MRTN</a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/wp-content/uploads/2023/04/Portfolio-Commentary_SMID-Cap-Q2-2023_Russell-2500.pdf">The London Company - Small-Mid Cap</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/DECK " target="_blank">DECK </a><a href="https://roic.ai/company/THG " target="_blank">THG </a><a href="https://roic.ai/company/UNF " target="_blank">UNF </a><a href="https://roic.ai/company/ST" target="_blank">ST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638259853870000000">Weitz Partners III Opportunity Fund</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/PRM " target="_blank">PRM </a><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/LBTYK" target="_blank">LBTYK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638259853870000000">Weitz Partners Value Fund</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638259853870000000">Weitz Value Fund</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/CHTR" target="_blank">CHTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/64b578fb188f55445b7cc1de/1689614587969/Laughing+Water+Capital+H1%2723+Letter.pdf">Laughing Water Capital</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/HGV " target="_blank">HGV </a><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/BVHMF " target="_blank">BVHMF </a><a href="https://roic.ai/company/ENZ" target="_blank">ENZ</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://headwaterscapmgmt.com/wp-content/uploads/2023/07/HCM-Q2-23-Investor-Letter.pdf">Headwaters Capital</a></td><td>7/27/2023</td><td><a href="https://roic.ai/company/TMDX " target="_blank">TMDX </a><a href="https://roic.ai/company/NSIT " target="_blank">NSIT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://choice-equities.com/wp-content/uploads/2023/07/2023-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td>7/28/2023</td><td><a href="https://roic.ai/company/MGNI " target="_blank">MGNI </a><a href="https://roic.ai/company/STGW " target="_blank">STGW </a><a href="https://roic.ai/company/PLCE" target="_blank">PLCE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static.fmgsuite.com/media/documents/94f6fbde-ef84-4d0e-8c91-42b6c6dd36ad.pdf">Conestoga Capital Advisors, LLC</a></td><td>7/28/2023</td><td><a href="https://roic.ai/company/FSS " target="_blank">FSS </a><a href="https://roic.ai/company/PL " target="_blank">PL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.legacyridgecapital.com/wp-content/uploads/2023/07/LRCM-1H23-Letter.pdf">Legacy Ridge Capital Management</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/ETRN " target="_blank">ETRN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/ARTYX-APDYX-APHYX-QCommentary-2Q23-vR.pdf">Artisan Developing World Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/ARTTX-APDTX-APHTX-QCommentary-2Q23-vR.pdf">Artisan Focus Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/APFDX-APDDX-APHDX-QCommentary-2Q23-vR.pdf">Artisan Global Discovery Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/DIM:FP " target="_blank">DIM:FP </a><a href="https://roic.ai/company/603605:CH" target="_blank">603605:CH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/ARTKX-APDKX-APHKX-QCommentary-2Q23-vR.pdf">Artisan International Value Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/ARTMX-APDMX-APHMX-QCommentary-2Q23-vR.pdf">Artisan Mid Cap Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/KEY " target="_blank">KEY </a><a href="https://roic.ai/company/RBLX " target="_blank">RBLX </a><a href="https://roic.ai/company/FWONK" target="_blank">FWONK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/ARTSX-APDSX-APHSX-QCommentary-2Q23-vR.pdf">Artisan Small Cap Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/DUOL " target="_blank">DUOL </a><a href="https://roic.ai/company/SPXC " target="_blank">SPXC </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/2q/ARTLX-APDLX-APHLX-QCommentary-2Q23-vR.pdf">Artisan Value Fund</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2023/07/Second-Quarter-2023-SouthernSun-Small-Cap-Strategy-Composite-Commentary.pdf">SouternSun Small Cap</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/DY " target="_blank">DY </a><a href="https://roic.ai/company/USPH " target="_blank">USPH </a><a href="https://roic.ai/company/NGVT " target="_blank">NGVT </a><a href="https://roic.ai/company/DORM " target="_blank">DORM </a><a href="https://roic.ai/company/UNVR " target="_blank">UNVR </a><a href="https://roic.ai/company/BOOT" target="_blank">BOOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2023/07/Second-Quarter-2023-SouthernSun-SMID-Cap-Composite-Commentary.pdf">SouternSun SMID Cap</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/DY " target="_blank">DY </a><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/NGVT " target="_blank">NGVT </a><a href="https://roic.ai/company/USPH " target="_blank">USPH </a><a href="https://roic.ai/company/MGPI" target="_blank">MGPI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fairlightcapital.com/_files/ugd/a6cb30_5fa25f6e065246edbb49fc2882f186ca.pdf">Fairlight Alpha Fund LP</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/OPRA " target="_blank">OPRA </a><a href="https://roic.ai/company/INT.ST" target="_blank">INT.ST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/64c2a994b20f595cd5a93a81/1690478996459/Q2+2023+Letter.pdf">Curreen Capital</a></td><td>7/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mcjcapitalpartners.com/q2-2023-update">MCJ Capital Partners</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://horizonkinetics.com/app/uploads/Q2-23-Commentary_FINAL.pdf">Horizon Kinetics</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/MIAX " target="_blank">MIAX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mhinvest.com/download.html?docId=3208">Miller/Howard Investments</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2023/2023%20Q2%20Letter%20Approved%20V2.pdf?utm_medium=email&_hsmi=268306262&_hsenc=p2ANqtz--duICeqSNEDddaHcIuP1JZijt4ICJuVTw-9AZuBAZQ98QDAcVXDCASvNiBNXg-hvCvfC6Slq5r-f4J7PzSidM3PT1TwA&utm_content=268306262&utm_source=hs_email">Praetorian Capital </a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary.pdf">Polen Capital - Focus Growth</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/WDAY " target="_blank">WDAY </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary.pdf">Polen Capital - Global Growth</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/WDAY " target="_blank">WDAY </a><a href="https://roic.ai/company/GLOB" target="_blank">GLOB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary.pdf">Polen Capital - International Growth</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary.pdf">Polen Capital - U.S. Small Company Growth</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/LESL " target="_blank">LESL </a><a href="https://roic.ai/company/ALIT " target="_blank">ALIT </a><a href="https://roic.ai/company/SITM" target="_blank">SITM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary.pdf">Polen Capital - Global SMID Company Growth</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/ALIT " target="_blank">ALIT </a><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/SFTTF " target="_blank">SFTTF </a><a href="https://roic.ai/company/TMRAF" target="_blank">TMRAF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary.pdf">Polen Capital - U.S. SMID Company Growth </a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/ALIT " target="_blank">ALIT </a><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/MORN" target="_blank">MORN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://boyarresearch.substack.com/p/boyar-researchs-quarterly-letter?sd=pf&_hsmi=266213180&_hsenc=p2ANqtz-8nvVeKPhRj44NEW6voZlgnSri3fU1OdYQJICkEnp62XJQCQtsoB6ZM4bH4PrS4FxUc14NeUDYVLBoNwdb-SA3ra2U6iA">Boyar Value Group</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/4522df4fcbfa5be002117f260/files/78ac717f-3767-65a5-a490-5428245832c2/Maran_Partners_Fund_LP_2023_2Q_Letter.pdf">Maran Capital Management</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/CDRE " target="_blank">CDRE </a><a href="https://roic.ai/company/CLAR " target="_blank">CLAR </a><a href="https://roic.ai/company/CTTOF " target="_blank">CTTOF </a><a href="https://roic.ai/company/BVHMF " target="_blank">BVHMF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://app.hubspot.com/documents/22324760/view/635945262?accessId=db9bba">Broyhill Asset Management</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/NTDOY " target="_blank">NTDOY </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://files.constantcontact.com/920f57ab801/91eb87b8-d678-482b-8b10-16def7b692c3.pdf">Immersion Investments</a></td><td>8/02/2023</td><td><a href="https://roic.ai/company/MPAA " target="_blank">MPAA </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/FC " target="_blank">FC </a><a href="https://roic.ai/company/IDT " target="_blank">IDT </a><a href="https://roic.ai/company/PBPB " target="_blank">PBPB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets.thirdpointlimited.com/f/166217/x/44aad2e051/third-point-q2-2023-investor-letter-tpil.pdf">Third Point Offshore Fund</a></td><td>8/03/2023</td><td><a href="https://roic.ai/company/DHR " target="_blank">DHR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Growth_Fund_Commentary.pdf">Mairs & Power Growth Fund</a></td><td>8/03/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Small_Cap_Fund_Commentary.pdf">Mairs & Power Small Cap Fund</a></td><td>8/03/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-6.30.23_0.pdf">Baron Discovery Fund</a></td><td>8/03/2023</td><td><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/STVN " target="_blank">STVN </a><a href="https://roic.ai/company/DH" target="_blank">DH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://donvillekent.com/wp-content/uploads/2023/07/DKAM-ROE-Reporter-July-Final.pdf">Donville Kent Asset Management</a></td><td>8/07/2023</td><td><a href="https://roic.ai/company/RTMAF " target="_blank">RTMAF </a><a href="https://roic.ai/company/TCX " target="_blank">TCX </a><a href="https://roic.ai/company/SANG " target="_blank">SANG </a><a href="https://roic.ai/company/HMDPF " target="_blank">HMDPF </a><a href="https://roic.ai/company/DE.V" target="_blank">DE.V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Fund-Quarterly-Letter-6.30.23.pdf">Baron Fifth Avenue Growth Fund</a></td><td>8/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-6.30.23.pdf">Baron FinTech Fund</a></td><td>8/07/2023</td><td><a href="https://roic.ai/company/NU" target="_blank">NU</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://vulcanvaluepartners.com/core/uploads/2023/07/VVP-Quarterly-Letter-23.06.30.pdf">Vulcan Value Partners</a></td><td>8/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20230630.pdf">Rondure Global</a></td><td>8/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/b31fc288ff34d8bcaac5a79ef/files/6fdc4ebe-3f72-57da-d8cc-537f3e99c526/2023.06.30_2Q_2023_Letter_to_Investors_1_.pdf">Argosy Investors</a></td><td>8/10/2023</td><td><a href="https://roic.ai/company/DAVA" target="_blank">DAVA </a><a href="https://roic.ai/company/ZROZ " target="_blank">ZROZ </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://gatorcapital.com/wp-content/uploads/2023/08/20230724-GFP-2023-Q2-Letter.pdf">Gator Capital Management</a></td><td>8/10/2023</td><td><a href="https://roic.ai/company/OSBC " target="_blank">OSBC </a><a href="https://roic.ai/company/HIFS " target="_blank">HIFS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.vgipartners.com/wp-content/uploads/2023/08/VGI-Partners-Global-Investments-Investor-Letter-Aug-2023.pdf">VGI Partners Global Investments</a></td><td>8/10/2023</td><td><a href="https://roic.ai/company/CME " target="_blank">CME </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/GEHC " target="_blank">GEHC </a><a href="https://roic.ai/company/DBOEY " target="_blank">DBOEY </a><a href="https://roic.ai/company/LNSTY " target="_blank">LNSTY </a><a href="https://roic.ai/company/DSFIR.AS " target="_blank">DSFIR.AS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.crescat.net/monetary-vs-fiscal-dissonance/">Crestcat Capital</a></td><td>8/10/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">1st Quarter 2023</span>
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<tr><td><a href="https://east72.com.au/wp-content/uploads/2023/04/E72DT-QUARTERLY-REPORT-Mar-2023.pdf">East72 Dynasty Trust</a></td><td>4/03/2023</td><td><a href="https://roic.ai/company/BAIN.PA " target="_blank">BAIN.PA </a><a href="https://roic.ai/company/VWAGY" target="_blank">VWAGY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://stjic.com/wp-content/uploads/2023/04/STJIC-Adviser-Letter-2023-Q1-v2.pdf">St. James Investment Company </a></td><td>4/06/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/642e7873a1ee6b44bd6933e3/1680767092090/Q12023.pdf">Comus Investments</a></td><td>4/06/2023</td><td><a href="https://roic.ai/company/1023.HK " target="_blank">1023.HK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_c0d0844318294a93b988e858fd3274da.pdf">Palm Valley Capital Fund</a></td><td>4/06/2023</td><td><a href="https://roic.ai/company/CRD-A " target="_blank">CRD-A </a><a href="https://roic.ai/company/CRD-B " target="_blank">CRD-B </a><a href="https://roic.ai/company/MLR " target="_blank">MLR </a><a href="https://roic.ai/company/GENC" target="_blank">GENC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.boyarvaluegroup.com/wp-content/uploads/2023/04/BVG_letter_2023_Q1.pdf">Boyar Value Group</a></td><td>4/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.vltavafund.com/dopisy-akcionarum/allocation">Vltava Fund</a></td><td>4/07/2023</td><td><a href="https://roic.ai/company/JFBHF" target="_blank">JFBHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/f3dfc645-8afe-0274-a808-6c7ff4fd996b/First_Quarter_2023_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td>4/08/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/8fe1787b-e848-89c6-54f4-6997a2d868c9/March_2023_Investor_Letter_Who_will_fill_the_voidvfin.pdf">Richie Capital Group</a></td><td>4/11/2023</td><td><a href="https://roic.ai/company/PERI " target="_blank">PERI </a><a href="https://roic.ai/company/FIX " target="_blank">FIX </a><a href="https://roic.ai/company/MSCI " target="_blank">MSCI </a><a href="https://roic.ai/company/AMT " target="_blank">AMT </a><a href="https://roic.ai/company/ATEN " target="_blank">ATEN </a><a href="https://roic.ai/company/AMT" target="_blank">AMT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.lrtcapital.com/wp-content/uploads/2023/04/2023-03-March-Investor-Update.pdf?utm_source=newsletter&utm_medium=email&utm_term=2023-04-11&utm_campaign=LRT+Capital+March+2023+-+Investor+Update">LRT Capital</a></td><td>4/11/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2023_03_15.pdf">Myrmikan Research</a></td><td>4/11/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fmimgt.com/fmi/corp/Letters/iso_20230331.pdf">Fiduciary Management Inc.</a></td><td>4/11/2023</td><td><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/FBIN " target="_blank">FBIN </a><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://gbcvalue.com/wp-content/uploads/2023/04/2023-Q1_Gehlen-Braeutigam-Value-HI-%E2%80%93-Letter-to-Partners-19-EN.pdf">Gehlen Bräutigam Capital GmbH</a></td><td>4/12/2023</td><td><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/GYYMF " target="_blank">GYYMF </a><a href="https://roic.ai/company/0OPA.L " target="_blank">0OPA.L </a><a href="https://roic.ai/company/SEIGY " target="_blank">SEIGY </a><a href="https://roic.ai/company/SKB.DE " target="_blank">SKB.DE </a><a href="https://roic.ai/company/HLFFF " target="_blank">HLFFF </a><a href="https://roic.ai/company/KSB.DE" target="_blank">KSB.DE</a><a href="https://roic.ai/company/KSB.DE" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rowanstreet.com/post/rowan-street-q1-2023-letter">Rowan Street Capital</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/TTD" target="_blank">TTD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.akrefund.com/wp-content/uploads/2023/04/Akre-Focus-Fund-Quarterly-Commentary-2023-Q1.pdf#page=1">Akre Focus Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://lvsadvisory.com/wp-content/uploads/2023/04/LVS-Advisory-Letter-Q1-2023.pdf">LVS Advisory</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/ABMD-CVR " target="_blank">ABMD-CVR </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/JYNT " target="_blank">JYNT </a><a href="https://roic.ai/company/GOGO " target="_blank">GOGO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/1Q23-Mid-Cap-Comm">Heartland Mid Cap Value Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/CNC " target="_blank">CNC </a><a href="https://roic.ai/company/INGR " target="_blank">INGR </a><a href="https://roic.ai/company/IBKR " target="_blank">IBKR </a><a href="https://roic.ai/company/TDC" target="_blank">TDC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/1Q23-Value-Fund-Comm">Heartland Value Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/FIBK " target="_blank">FIBK </a><a href="https://roic.ai/company/CGAU " target="_blank">CGAU </a><a href="https://roic.ai/company/NSA " target="_blank">NSA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/1Q23-VP-Comm">Heartland Value Plus Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/AVNS" target="_blank">AVNS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://img1.wsimg.com/blobby/go/c10d5993-4abc-4a97-baea-c72b4e5c6857/Q1%202023.pdf">Ace River Capital</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/HZO" target="_blank">HZO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-fund-first-calendar-quarter-2023/">Oakmark Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/KR " target="_blank">KR </a><a href="https://roic.ai/company/TFC " target="_blank">TFC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-calendar-quarter-2023/">Oakmark Global Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/CGEMY " target="_blank">CGEMY </a><a href="https://roic.ai/company/COF " target="_blank">COF </a><a href="https://roic.ai/company/COP " target="_blank">COP </a><a href="https://roic.ai/company/ICE " target="_blank">ICE </a><a href="https://roic.ai/company/NVST" target="_blank">NVST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-calendar-quarter-2023/">Oakmark Global Select Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/GOOG" target="_blank">GOOG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-fund-first-calendar-quarter-2023/">Oakmark International Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/CON.DE " target="_blank">CON.DE </a><a href="https://roic.ai/company/GLCNF " target="_blank">GLCNF </a><a href="https://roic.ai/company/ERFSF " target="_blank">ERFSF </a><a href="https://roic.ai/company/BNTGF" target="_blank">BNTGF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-first-calendar-quarter-2023/">Oakmark International Small Cap Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/TMVWY " target="_blank">TMVWY </a><a href="https://roic.ai/company/OSP2.DE " target="_blank">OSP2.DE </a><a href="https://roic.ai/company/CIGI " target="_blank">CIGI </a><a href="https://roic.ai/company/KSANF " target="_blank">KSANF </a><a href="https://roic.ai/company/MEDX.SW" target="_blank">MEDX.SW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-calendar-quarter-2023/">Oakmark Select Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="http://covestreetfunds.com/wp-content/uploads/2023/04/CSCAX_2023-03-31_Shareholder_Letter_Final.pdf">Cove Street Capital</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/SSP " target="_blank">SSP </a><a href="https://roic.ai/company/NUVA " target="_blank">NUVA </a><a href="https://roic.ai/company/HNRG " target="_blank">HNRG </a><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/CLMB " target="_blank">CLMB </a><a href="https://roic.ai/company/CLMB " target="_blank">GLDD </a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTYX-APDYX-APHYX-QCommentary-1Q23-vR.pdf">Artisan Developing World Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/SE" target="_blank">SE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2023Q1.pdf">Frontaura Global Frontier Fund LLC </a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.righttailcapital.com/_files/ugd/9593df_636c8638dfa24341b4a23ebd4ffd47c6.pdf">Right Tail Capital</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/LAD" target="_blank">LAD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonDividendIncome-ISL.pdf">Madison Dividend Income Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/UPS " target="_blank">UPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonInvestorsFund-ISL.pdf">Madison Investors Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/USB " target="_blank">USB </a><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonMidCap-ISL.pdf">Madison Mid Cap Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSmallCap-ISL.pdf">Madison Small Cap Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSustainableEquityFund-ISL.pdf">Madison Sustainable Equity Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/LLY " target="_blank">LLY </a><a href="https://roic.ai/company/DHR " target="_blank">DHR </a><a href="https://roic.ai/company/ORCL" target="_blank">ORCL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/64368ee6b157b05bc0ccb151/1681297127076/Q1%2723+letter.pdf">1 Main Capital Partners</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/DNTL " target="_blank">DNTL </a><a href="https://roic.ai/company/LMB " target="_blank">LMB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/635cafa2259a125cc55eae33/t/64387c7cf1e5c4626d787d38/1681423485063/Atai+Capital+-+Q1-2023+Letter.pdf">Atai Capital Management</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/ALOT " target="_blank">ALOT </a><a href="https://roic.ai/company/ATVI " target="_blank">ATVI </a><a href="https://roic.ai/company/CABO " target="_blank">CABO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.ithakagroup.com/_files/ugd/a80814_a0e88abb324448e5997e79b84d68c740.pdf">The Ithaka Group</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/MSFT " target="_blank">MSFT </a><a href="https://roic.ai/company/ISRG " target="_blank">ISRG </a><a href="https://roic.ai/company/SNOW " target="_blank">SNOW </a><a href="https://roic.ai/company/DXCM" target="_blank">DXCM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://wedgewoodpartners.com/wp-content/uploads/2023/04/1Q2023ClientLetter.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/SPGI " target="_blank">SPGI </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TSM " target="_blank">TSM </a><a href="https://roic.ai/company/TSM " target="_blank">GOOG </a></td></tr>
<tr><td><a href="https://distillatecapital.com/wp-content/uploads/2023/04/Q1-2023-Letter.pdf">Distillate Capital</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/643cc7de74206766c2cfe31a/1681704926120/2023+Q1.pdf">Blue Tower Asset Management</a></td><td>4/17/2023</td><td><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2023/04/1Q-2023-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2023/04/1Q-2023-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/643d46ae3621b5582b786995/1681737391548/Upslope+-+2023Q1+Letter.pdf">Upslope Capital Management</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/FTT.TO" target="_blank">FTT.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2023/">Cooper Investors Global Equity Fund (Hedged)</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2023/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://files.constantcontact.com/e71b08bb301/f100647c-b579-4eb1-b182-0d9553ac3403.pdf?rdr=true">Bernzott Capital Advisors</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/GVA " target="_blank">GVA </a><a href="https://roic.ai/company/ATSG " target="_blank">ATSG </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/HLMN " target="_blank">HLMN </a><a href="https://roic.ai/company/PTEN" target="_blank">PTEN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.oldwestim.com/_files/ugd/718a37_8cee40a0b4ec4b4486478e0b2e0d32be.pdf">Old West Capital Management</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/AFM " target="_blank">AFM </a><a href="https://roic.ai/company/BG " target="_blank">BG </a><a href="https://roic.ai/company/WLDBF" target="_blank">WLDBF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_7a31fdc7d2c343b9a5009b02ef61b2ef.pdf">Merion Road Capital</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/MWA " target="_blank">MWA </a><a href="https://roic.ai/company/WCC " target="_blank">WCC </a><a href="https://roic.ai/company/RFIL " target="_blank">RFIL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1681937498394">Miller Income Strategy</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/HDELY " target="_blank">HDELY </a><a href="https://roic.ai/company/MSTR " target="_blank">MSTR </a><a href="https://roic.ai/company/JXN " target="_blank">JXN </a><a href="https://roic.ai/company/VNA.DE " target="_blank">VNA.DE </a><a href="https://roic.ai/company/MPW " target="_blank">MPW </a><a href="https://roic.ai/company/VTRS" target="_blank">VTRS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervalue.com/dont-forget-value-and-small/">Miller Deep Value</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/MHO " target="_blank">MHO </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary.pdf">Polen Capital - Global Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/MSFT " target="_blank">MSFT </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/ABT " target="_blank">ABT </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/MA " target="_blank">MA </a><a href="https://roic.ai/company/MA " target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary.pdf">Polen Capital - Global SMID Company Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/GSHD " target="_blank">GSHD </a><a href="https://roic.ai/company/DAVA " target="_blank">DAVA </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary.pdf">Polen Capital - International Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/TLPFY " target="_blank">TLPFY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary.pdf">Polen Capital - International Small Company Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/FQVTF " target="_blank">FQVTF </a><a href="https://roic.ai/company/CMPUY " target="_blank">CMPUY </a><a href="https://roic.ai/company/KXSCF " target="_blank">KXSCF </a><a href="https://roic.ai/company/SVPLF " target="_blank">SVPLF </a><a href="https://roic.ai/company/MYTE " target="_blank">MYTE </a><a href="https://roic.ai/company/DAVA " target="_blank">DAVA </a><a href="https://roic.ai/company/JDG.L" target="_blank">JDG.L</a><a href="https://roic.ai/company/JDG.L" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary.pdf">Polen Capital - U.S. Small Company Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/WRBY " target="_blank">WRBY </a><a href="https://roic.ai/company/BMBL " target="_blank">BMBL </a><a href="https://roic.ai/company/ALIT " target="_blank">ALIT </a><a href="https://roic.ai/company/DCGO " target="_blank">DCGO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary.pdf">Polen Capital - U.S. SMID Company Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/WRBY " target="_blank">WRBY </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/MPWR" target="_blank">MPWR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervalue.com/opportunity-equity-1q2023-commentary/">Miller Opportunity Equity</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/UBS " target="_blank">UBS </a><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.whitebrookcapital.com/1q2023-commentary">Whitebrook Capital Partners </a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/GPRE " target="_blank">GPRE </a><a href="https://roic.ai/company/RILY " target="_blank">RILY </a><a href="https://roic.ai/company/KAR " target="_blank">KAR </a><a href="https://roic.ai/company/MOS " target="_blank">MOS </a><a href="https://roic.ai/company/AFYA" target="_blank">AFYA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://ensemblefund.com/first-quarter-2023-investment-update/">Ensemble Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/RACE " target="_blank">RACE </a><a href="https://roic.ai/company/CMG " target="_blank">CMG </a><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.okeefestevens.com/wp-content/uploads/2023/01/Q1-2023-Value-Connection-Newsletter.pdf">O'Keefe Stevens</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-3.31.23.pdf">Baron Real Estate Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/BN " target="_blank">BN </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/RRR" target="_blank">RRR</a><a href="https://roic.ai/company/ARE " target="_blank">ARE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-3.31.23_0.pdf">Baron Discovery Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/DKNG " target="_blank">DKNG </a><a href="https://roic.ai/company/CERT " target="_blank">CERT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2023/2023%20Q1%20Letter%20-Approved.pdf">Praetorian Capital </a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-3.31.23.pdf">Baron Health Care Fund</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/RXDX " target="_blank">RXDX </a><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/WST " target="_blank">WST </a><a href="https://roic.ai/company/DXCM " target="_blank">DXCM </a><a href="https://roic.ai/company/EXAS " target="_blank">EXAS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_CE.pdf">Aristotle - Core Equity</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/ZTS " target="_blank">ZTS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_FG.pdf">Aristotle - Focus Growth</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_IE-ADR.pdf">Aristotle - International Equity ADR</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_LCG.pdf">Aristotle - Large Cap Growth</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/ENPH " target="_blank">ENPH </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/BMRN " target="_blank">BMRN </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_SC.pdf">Aristotle - Small Cap Equity</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/HASI " target="_blank">HASI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_SMID.pdf">Aristotle - Small/Mid Cap Equity</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/HASI " target="_blank">HASI </a><a href="https://roic.ai/company/TFX " target="_blank">TFX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_VE.pdf">Aristotle - Value Equity</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTTX-APDTX-APHTX-QCommentary-1Q23-vR.pdf">Artisan Focus Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTKX-APDKX-APHKX-QCommentary-1Q23-vR.pdf">Artisan International Value Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTMX-APDMX-APHMX-QCommentary-1Q23-vR.pdf">Artisan Mid Cap Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/MKTX " target="_blank">MKTX </a><a href="https://roic.ai/company/ROK " target="_blank">ROK </a><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/BSY " target="_blank">BSY </a><a href="https://roic.ai/company/AJG " target="_blank">AJG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTSX-APDSX-APHSX-QCommentary-1Q23-vR.pdf">Artisan Small Cap Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/SAIA " target="_blank">SAIA </a><a href="https://roic.ai/company/FOUR " target="_blank">FOUR </a><a href="https://roic.ai/company/MKTX " target="_blank">MKTX </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/CDMO" target="_blank">CDMO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTLX-APDLX-APHLX-QCommentary-1Q23-vR.pdf">Artisan Value Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/PNC " target="_blank">PNC </a><a href="https://roic.ai/company/USB " target="_blank">USB </a><a href="https://roic.ai/company/BAX" target="_blank">BAX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2023.pdf">L1 Capital Long Short Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/PDYPY " target="_blank">PDYPY </a><a href="https://roic.ai/company/NCMGY " target="_blank">NCMGY </a><a href="https://roic.ai/company/CSCCF " target="_blank">CSCCF </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/BLSFY " target="_blank">BLSFY </a><a href="https://roic.ai/company/QBIEY " target="_blank">QBIEY </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/AAPL " target="_blank">DOW.AX </a></td></tr>
<tr><td><a href="https://files.brontecapital.com/amalthea/Amalthea_Letter_202303.pdf">Bronte Capital</a></td><td>4/24/2023</td><td><a href="https://roic.ai/company/UBS " target="_blank">UBS </a><a href="https://roic.ai/company/FCNCA " target="_blank">FCNCA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.pzena.com/the-current-opportunity-in-small-caps-globally/">Pzena Investment Management</a></td><td>4/24/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://hoisington.com/pdf/HIM2023Q1NP.pdf">Hoisington Investment Management</a></td><td>4/24/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td>4/24/2023</td><td><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/SPSC " target="_blank">SPSC </a><a href="https://roic.ai/company/VERX " target="_blank">VERX </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/MEG " target="_blank">MEG </a><a href="https://roic.ai/company/XMTR" target="_blank">XMTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-3.31.23.pdf">Baron Asset Fund</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/PWR " target="_blank">PWR </a><a href="https://roic.ai/company/RGEN" target="_blank">RGEN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-3.31.23.pdf">Baron Partners Fund</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary.pdf">Polen Capital - Focus Growth</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/AMZN" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/APFDX-APDDX-APHDX-QCommentary-1Q23-vR.pdf">Artisan Global Discovery Fund</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/WST " target="_blank">WST </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/NTOIY" target="_blank">NTOIY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://l1international.com/wp-content/uploads/2023/04/L1-Capital-International-31-March-2023-Quarterly.pdf">L1 International Capital Fund</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://alluvialcapital.com/wp-content/uploads/2023/04/Alluvial-Capital-Management-Q1-2023-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/HPS-A.TO " target="_blank">HPS-A.TO </a><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/EACO " target="_blank">EACO </a><a href="https://roic.ai/company/SKTP " target="_blank">SKTP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/644872509e61401b01f36b78/1682469456611/Q1+2023+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/SODI " target="_blank">SODI </a><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638181382150000000">Weitz Partners III Opportunity Fund</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638181382150000000">Weitz Partners Value Fund</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638181382150000000">Weitz Value Fund</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/644972d37a6f3804fa997915/1682535124107/GCAM+2023+Q1+letter.pdf">Giverny Capital Asset Management</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/ANET " target="_blank">ANET </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://docsend.com/view/xywtg28xbjt6vb36">Silver Beach Capital</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/ECNCF " target="_blank">ECNCF </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/ALLY " target="_blank">ALLY </a><a href="https://roic.ai/company/FCNCA " target="_blank">FCNCA </a><a href="https://roic.ai/company/GRBK" target="_blank">GRBK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q23_Investor_Letter.pdf">RiverPark Large Growth</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/LULU " target="_blank">LULU </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/SCHW " target="_blank">RNG </a></td></tr>
<tr><td><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q23_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/LULU " target="_blank">LULU </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.crescat.net/wp-content/uploads/Whistling-Past-the-Graveyard.pdf">Crestcat Capital</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2023-03.pdf?sfvrsn=be309f9d_4">FPA Crescent Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/HCMLF" target="_blank">HCMLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-qr-small-cap-value-fund-commentary-2023-03.pdf?sfvrsn=df339f9d_4">FPA Queens Road Small Cap Value Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/SFBS " target="_blank">SFBS </a><a href="https://roic.ai/company/AX" target="_blank">AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-value-fund/literature/fpa-qr-value-fund-commentary-2023-03.pdf?sfvrsn=2b319f9d_6">FPA Queens Road Value Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/fpa-us-core-fund-commentary-2023-03.pdf?sfvrsn=64309f9d_6">FPA U.S. Core Equity Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2023-q1.pdf">Alphyn Capital Management</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/WANSF " target="_blank">WANSF </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/PROSF " target="_blank">PROSF </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/ENOV " target="_blank">ENOV </a><a href="https://roic.ai/company/KMX" target="_blank">KMX </a><a href="https://roic.ai/company/KMX" target="_blank">BAM </a></td></tr>
<tr><td><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202303/Commentary-Small-Cap-Fund-2023-03-31.pdf?c=638183103050000000">Diamond Hill Small Cap Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/SAMG " target="_blank">SAMG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/644ad2944d60ad43588dc9c2/1682625172120/Q1+2023+Letter.pdf">Curreen Capital</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Emerging-Markets-Fund-Quarterly-Letter-3.31.23.pdf">Baron Emerging Markets Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/000858.SZ " target="_blank">000858.SZ </a><a href="https://roic.ai/company/PRNDY " target="_blank">PRNDY </a><a href="https://roic.ai/company/HINDUNILVR.NS " target="_blank">HINDUNILVR.NS </a><a href="https://roic.ai/company/TCS.NS " target="_blank">TCS.NS </a><a href="https://roic.ai/company/0L2T.L " target="_blank">0L2T.L </a><a href="https://roic.ai/company/051910.KS" target="_blank">051910.KS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-3.31.23_0.pdf">Baron Opportunity Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/MRVL " target="_blank">MRVL </a><a href="https://roic.ai/company/DXCM " target="_blank">DXCM </a><a href="https://roic.ai/company/GTLB" target="_blank">GTLB</a><a href="https://roic.ai/company/TSLA" target="_blank">TSLA</a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/INDI " target="_blank">INDI </a><a href="https://roic.ai/company/INDI " target="_blank"></a></td></tr>
<tr><td><a href="https://southeasternasset.com/commentary/1q23-partners-fund-commentary/">Longleaf Partners Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/FDX " target="_blank">FDX </a><a href="https://roic.ai/company/PVH " target="_blank">PVH </a><a href="https://roic.ai/company/LUMN" target="_blank">LUMN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southeasternasset.com/commentary/1q23-global-fund-commentary/">Longleaf Partners Global Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/FDX " target="_blank">FDX </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/LUMN" target="_blank">LUMN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southeasternasset.com/commentary/1q23-international-fund-commentary/">Longleaf Partners International Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/ACCYY " target="_blank">ACCYY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southeasternasset.com/commentary/1q23-small-cap-fund-commentary/">Longleaf Partners Small-Cap Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/OSCR " target="_blank">OSCR </a><a href="https://roic.ai/company/H " target="_blank">H </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/qtd-large-cap-1q2023-vs-r1000/">The London Company - Large Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/CVX " target="_blank">CVX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/qtd-mid-cap-1q2023-vs-rmc/">The London Company - Mid Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/SWKS " target="_blank">SWKS </a><a href="https://roic.ai/company/CPRT " target="_blank">CPRT </a><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/MTB " target="_blank">MTB </a><a href="https://roic.ai/company/UNF " target="_blank">UNF </a><a href="https://roic.ai/company/HAS " target="_blank">HAS </a><a href="https://roic.ai/company/CBRE" target="_blank">CBRE</a><a href="https://roic.ai/company/CBRE" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/qtd-small-cap-1q2023-vs-r2000/">The London Company - Small Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/VNT " target="_blank">VNT </a><a href="https://roic.ai/company/AQUA " target="_blank">AQUA </a><a href="https://roic.ai/company/TPX " target="_blank">TPX </a><a href="https://roic.ai/company/LVN " target="_blank">LVN </a><a href="https://roic.ai/company/MUSA " target="_blank">MUSA </a><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/ENOV" target="_blank">ENOV</a><a href="https://roic.ai/company/ENOV" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/qtd-smid-cap-1q2023-vs-r2500/">The London Company - Small-Mid Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/CHDN " target="_blank">CHDN </a><a href="https://roic.ai/company/LW " target="_blank">LW </a><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/MBI " target="_blank">MBI </a><a href="https://roic.ai/company/JKHY " target="_blank">JKHY </a><a href="https://roic.ai/company/STOR " target="_blank">STOR </a><a href="https://roic.ai/company/MUSA " target="_blank">MUSA </a><a href="https://roic.ai/company/MUSA " target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2023/04/First-Quarter-2023-SouthernSun-Small-Cap-Strategy-Composite-Commentary-3.pdf">SouternSun Small Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/BCO " target="_blank">BCO </a><a href="https://roic.ai/company/TKR " target="_blank">TKR </a><a href="https://roic.ai/company/LOB " target="_blank">LOB </a><a href="https://roic.ai/company/DAR " target="_blank">DAR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2023/04/First-Quarter-2023-SouthernSun-SMID-Cap-Composite-Commentary-4.pdf">SouternSun SMID Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/WSO " target="_blank">WSO </a><a href="https://roic.ai/company/BCO " target="_blank">BCO </a><a href="https://roic.ai/company/DAR " target="_blank">DAR </a><a href="https://roic.ai/company/WRK " target="_blank">WRK </a><a href="https://roic.ai/company/LPX " target="_blank">LPX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/644a9f41a585964a74bc2eb2/1682612033653/Q1+2023+NZS+Letter.pdf">NZS Capital</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://andvariassociates.com/q1-2023-letter-tyler-technologies-is-ready-to-run">Andvari Associates</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/TYL" target="_blank">TYL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td>5/02/2023</td><td><a href="https://roic.ai/company/HSKA " target="_blank">HSKA </a><a href="https://roic.ai/company/GWRE " target="_blank">GWRE </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/XMTR " target="_blank">XMTR </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td>5/02/2023</td><td><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/MSFT " target="_blank">MSFT </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/LLY " target="_blank">LLY </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/ACHC" target="_blank">ACHC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td>5/09/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td>5/09/2023</td><td><a href="https://roic.ai/company/JLL " target="_blank">JLL </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/SVS.L " target="_blank">SVS.L </a><a href="https://roic.ai/company/INGEF " target="_blank">INGEF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td>5/09/2023</td><td><a href="https://roic.ai/company/WEDXF " target="_blank">WEDXF </a><a href="https://roic.ai/company/FRPH " target="_blank">FRPH </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/BATRA " target="_blank">BATRA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td>5/09/2023</td><td><a href="https://roic.ai/company/CMA " target="_blank">CMA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.greystonevalue.com/_files/ugd/47fd79_4bc7a737390344ceb68d07367503b878.pdf">Greystone Capital Management</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/GFF " target="_blank">GFF </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/POL " target="_blank">POL </a><a href="https://roic.ai/company/SYZLF " target="_blank">SYZLF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q23.pdf">Horos Funds</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/MG " target="_blank">MG </a><a href="https://roic.ai/company/PSHZF " target="_blank">PSHZF </a><a href="https://roic.ai/company/EAT.WA " target="_blank">EAT.WA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_ec282b58db5c405ca4f87cea282120f5.pdf">Arch Capital Fund</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mcjcapitalpartners.com/q1-2023-update">MCJ Capital Partners</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://headwaterscapmgmt.com/wp-content/uploads/2023/04/HCM-Q1-23-Investor-Letter.pdf">Headwaters Capital</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/EYE" target="_blank">EYE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/645bce3568de4156b7afd2d8/1683738165531/Laughing+Water+Capital+Q1%2723+LFCR-final.pdf">Laughing Water Capital</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.deepsailcapital.com/_files/ugd/50dba3_d22e0841d600457f969ecafd70a016bf.pdf">Deep Sail Capital</a></td><td>5/11/2023</td><td><a href="https://roic.ai/company/MELI " target="_blank">MELI </a><a href="https://roic.ai/company/LEAT " target="_blank">LEAT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/645415b13f8e364f90a6052e/1683232177772/Nordstern+Capital+1Q2023+partnership+memo.pdf">Nordstern Capital</a></td><td>5/11/2023</td><td><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/ASTL " target="_blank">ASTL </a><a href="https://roic.ai/company/ERJ " target="_blank">ERJ </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=4Q2022">Ave Maria Funds</a></td><td>5/11/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Growth-Fund-Quarterly-Letter-3.31.23.pdf">Baron Fifth Avenue Growth Fund</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/NET " target="_blank">NET </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20230331.pdf">Rondure Global</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://donvillekent.com/wp-content/uploads/2023/05/DKAM-ROE-Reporter-April-2023-Final.pdf">Donville Kent Asset Management</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/RTMNF " target="_blank">RTMNF </a><a href="https://roic.ai/company/TCX " target="_blank">TCX </a><a href="https://roic.ai/company/KUT.V " target="_blank">KUT.V </a><a href="https://roic.ai/company/GSY.TO " target="_blank">GSY.TO </a><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/NVEI " target="_blank">NVEI </a><a href="https://roic.ai/company/VHIBF" target="_blank">VHIBF</a><a href="https://roic.ai/company/VHIBF" target="_blank"></a></td></tr>
<tr><td><a href="https://vulcanvaluepartners.com/core/uploads/2023/04/VVP-Quarterly-Letter-23.03.31-FINAL.pdf">Vulcan Value Partners</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/645c493b618e556818733cdc/1683769659460/Maran+Partners+Fund+LP+2023+1Q+Letter.pdf">Maran Capital Management</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/DK " target="_blank">DK </a><a href="https://roic.ai/company/RNGR " target="_blank">RNGR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/c3f2e1e3-49d6-4a6c-d067-53670e27055d/SilverRingValuePartners_2023Q1_Letter_b.pdf">Silver Ring Value Partners</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/OI " target="_blank">OI </a><a href="https://roic.ai/company/GTXAP " target="_blank">GTXAP </a><a href="https://roic.ai/company/AIM.TO " target="_blank">AIM.TO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/644ffc9a857b8e4c6fe18b5d/1682963610567/2023.Q1+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/LAC " target="_blank">LAC </a><a href="https://roic.ai/company/EQX " target="_blank">EQX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_1Q_2023.pdf">Saltlight Capital </a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/644bf0f3f5855f2f397e989b/1682698483965/Kinsman+Oak+-+Q1+2023+Letter+vCommentary.pdf">Kinsman Oak Equity Fund</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/6463e51fc22ddc3d0b6189c9/1684268319477/2023+Q1_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/PLYA " target="_blank">PLYA </a><a href="https://roic.ai/company/ASO " target="_blank">ASO </a><a href="https://roic.ai/company/ECNCF " target="_blank">ECNCF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.appleseedfund.com/wp-content/uploads/2023/04/2023-Semi-Annual-Letter.pdf">Appleseed Fund</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/MDT " target="_blank">MDT </a><a href="https://roic.ai/company/SWK " target="_blank">SWK </a><a href="https://roic.ai/company/SNV " target="_blank">SNV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202023%20FINAL.pdf">Tweedy Browne</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/6452638f2eb3d251647476f1/1683121039715/1Q23+letter+final.pdf">Long Cast Advisers </a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/PESI " target="_blank">PESI </a><a href="https://roic.ai/company/MTRX " target="_blank">MTRX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://dmzpartners.in/Documents/Files/DMZ-2857-DMZ-Partners-Year-End-Letter-FY-22-23-(Redacted-Version).pdf">DMZ Partners</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.palmharbourcapital.com/files/PHC_Letter_Q1_2023_FINAL_ENG.pdf">Palm Harbour Capital</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/TKAGY " target="_blank">TKAGY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://horizonkinetics.com/app/uploads/Q1-2023-Commentary_FINAL.pdf">Horizon Kinetics</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/PREKF " target="_blank">PREKF </a><a href="https://roic.ai/company/TRC " target="_blank">TRC </a><a href="https://roic.ai/company/LAND " target="_blank">LAND </a><a href="https://roic.ai/company/AND.TO " target="_blank">AND.TO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fairlightcapital.com/_files/ugd/a6cb30_b629d9c2917d4de989b7a667b7956d17.pdf">Fairlight Alpha Fund LP</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/OPRA " target="_blank">OPRA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcvalueblog.files.wordpress.com/2023/05/mcintyre-partnerships-q1-2023-letter-publishing.pdf?force_download=true">McIntyre Partnerships</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/STHO " target="_blank">STHO </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/SPHR" target="_blank">SPHR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/3fff1ea9d792aab7f6dffe0ab/files/95158614-509e-3a40-9096-269614fb88fe/Sohra_Peak_Capital_Partners_Partnership_Letter_Q1_2023.pdf">Sohra Peak Capital Partners</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/DUR.AX" target="_blank">DUR.AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/6452a6aec90b9820a50e74da/1683138222774/Greenhaven+Road+%282023+Q1%29+Quarterly+Letter_.pdf">Greenhaven Road Capital</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/BNED " target="_blank">BNED </a><a href="https://roic.ai/company/BNED " target="_blank"></a></td></tr>
<tr><td><a href="https://gatorcapital.com/wp-content/uploads/2023/05/20230425-GFP-2023-Q1-Letter-1.pdf">Gator Capital Management</a></td><td>5/23/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_1Q23_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td>5/23/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static.fmgsuite.com/media/documents/1ce2321f-d5c2-458e-93ba-9d546be8370e.pdf">Conestoga Capital Advisors, LLC</a></td><td>5/23/2023</td><td><a href="https://roic.ai/company/DGII " target="_blank">DGII </a><a href="https://roic.ai/company/EXPO " target="_blank">EXPO </a><a href="https://roic.ai/company/BSY " target="_blank">BSY </a><a href="https://roic.ai/company/PCOR" target="_blank">PCOR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.arielinvestments.com/wp-content/uploads/2022/12/ArielInvestmentTrustSemiAnnualReport033123.pdf">Ariel Trust Funds</a></td><td>5/23/2023</td><td><a href="https://roic.ai/company/BIDU " target="_blank">BIDU </a><a href="https://roic.ai/company/LESL " target="_blank">LESL </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/SRCL" target="_blank">SRCL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/64790b2cd3986c12d93cf4aa/1685654316748/Bonsai+Partners+Fund+Q1+2023+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td>6/02/2023</td><td><a href="https://roic.ai/company/HWDJY" target="_blank">HWDJY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2023/HL-EM-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner Emerging Markets Equity</a></td><td>6/02/2023</td><td><a href="https://roic.ai/company/KAKZF " target="_blank">KAKZF </a><a href="https://roic.ai/company/GLOB" target="_blank">GLOB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2023/HL-Global-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner Global Equity</a></td><td>6/02/2023</td><td><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/NOC" target="_blank">NOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-3.31.23.pdf">Baron FinTech Fund</a></td><td>6/02/2023</td><td><a href="https://roic.ai/company/IBKR " target="_blank">IBKR </a><a href="https://roic.ai/company/APO " target="_blank">APO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://d1io3yog0oux5.cloudfront.net/_7f0f3f83a18cc8c3dfb533da32512621/180degreecapital/db/373/2891/letter_to_shareholders/Q1+2023+Shareholder+Letter+-+Final.pdf">180 Degree Capital Corp.</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/PBPB " target="_blank">PBPB </a><a href="https://roic.ai/company/ALTG " target="_blank">ALTG </a><a href="https://roic.ai/company/SNCR " target="_blank">SNCR </a><a href="https://roic.ai/company/IVAC " target="_blank">IVAC </a><a href="https://roic.ai/company/AREN " target="_blank">AREN </a><a href="https://roic.ai/company/QBTS " target="_blank">QBTS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rgaia.com/wp-content/uploads/2023/05/RGAIA-Investment-Commentary-Q1-2023.pdf">RGA Investment Advisors</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets.thirdpointlimited.com/f/166217/x/a4928be28f/third-point-q1-2023-investor-letter-tpil.pdf">Third Point Offshore Fund</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/UBS " target="_blank">UBS </a><a href="https://roic.ai/company/GOOGL " target="_blank">GOOGL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://palmcapital.co.za/wp-content/uploads/2023/05/2023Q1-Commentary.pdf">Palm Capital</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/GOOGL" target="_blank">GOOGL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://wedgewoodpartners.com/wp-content/uploads/2023/05/Wedgewood-Partners-SMID-Letter-1Q2023.pdf">Wedgewood Partners Focus SMID Cap</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/JBHT " target="_blank">JBHT </a><a href="https://roic.ai/company/LSTR " target="_blank">LSTR </a><a href="https://roic.ai/company/SAIA " target="_blank">SAIA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-3.31.23.pdf">Baron Growth Fund</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/DNUT " target="_blank">DNUT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-3.31.23.pdf">Baron Small Cap Fund</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/CLVT" target="_blank">CLVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2023/HL-Global-Small-Cos-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner Global Small Companies</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/SNR.L " target="_blank">SNR.L </a><a href="https://roic.ai/company/PDX.ST " target="_blank">PDX.ST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2023/HL-Intl-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner International Equity</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/HLN" target="_blank">HLN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2023/HL-Intl-Small-Cos-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner International Small Companies Equity</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/SNR.L " target="_blank">SNR.L </a><a href="https://roic.ai/company/PDX.ST " target="_blank">PDX.ST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://evermoreglobal.com/assets/pdfs/Evermore_Commentary_Q1_2023.pdf">Evermore Global Value Fund</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/DHT " target="_blank">DHT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://4043042.fs1.hubspotusercontent-na1.net/hubfs/4043042/Content%20Offers/2023.Q1%20Commentary/2023.Q1%20Goehring%20and%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td>6/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Growth_Fund_Commentary.pdf">Mairs & Power Growth Fund</a></td><td>6/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Small_Cap_Fund_Commentary.pdf">Mairs & Power Small Cap Fund</a></td><td>6/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">4th Quarter 2022</span>
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
</thead>
<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2023/01/STJIC-Adviser-Letter-2022-Q4.pdf">St. James Investment Company </a></td><td width="14%">1/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_73_en.pdf">Vltava Fund</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/ARW " target="_blank">ARW </a><a href="https://roic.ai/company/GOOG" target="_blank">GOOG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/63b601b8597b413059e65e27/1672872376450/Q42022.pdf">Comus Investments</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2023/01/QUARTERLY-REPORT-Dec-2022-WEB.pdf">East72 Holdings</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/MFG.AX" target="_blank">MFG.AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_fe019478d5bd467ba615a8f521fbfa18.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://concentratedcompounding.substack.com/p/2022-annual-letter">Concentrated Compounding*</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/TDG " target="_blank">TDG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/RADI " target="_blank">RADI </a><a href="https://roic.ai/company/CHTR" target="_blank">CHTR</a><a href="https://roic.ai/company/CHTR" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_888ee89906e54813afeebb4b26163507.pdf">Palm Valley Capital Fund</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/2022-q4-letter/">Moon Capital</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/DVA " target="_blank">DVA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-2022-year-end-letter">Rowan Street Capital</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://novelinvestor.com/2022-a-year-in-returns/">Novel Investor</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_c50ba975f9df4cab94d949c13bf05897.pdf">Merion Road Capital</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/CPRT " target="_blank">CPRT </a><a href="https://roic.ai/company/MWA " target="_blank">MWA </a><a href="https://roic.ai/company/WHG " target="_blank">WHG </a><a href="https://roic.ai/company/MHH " target="_blank">MHH </a><a href="https://roic.ai/company/UBAB" target="_blank">UBAB</a><a href="https://roic.ai/company/UBAB" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fairlightcapital.com/_files/ugd/a6cb30_4b516623824544d2b3f9a075da1358e5.pdf">Fairlight Alpha Fund LP</a></td><td width="14%">1/17/2023</td><td width="39%"><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/OPRA" target="_blank">OPRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_b5e09c9e75554a4ebe50235180d1f940.pdf">Old West Capital Management</a></td><td width="14%">1/17/2023</td><td width="39%"><a href="https://roic.ai/company/AEM " target="_blank">AEM </a><a href="https://roic.ai/company/GOLD " target="_blank">GOLD </a><a href="https://roic.ai/company/NG " target="_blank">NG </a><a href="https://roic.ai/company/SA " target="_blank">SA </a><a href="https://roic.ai/company/WDO.TO " target="_blank">WDO.TO </a><a href="https://roic.ai/company/MAI.V" target="_blank">MAI.V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1q-T-iXlixliNHaMe3HyJNnzCCzd3_yzy/view">Greenlight Capital</a></td><td width="14%">1/17/2023</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/DNMR " target="_blank">DNMR </a><a href="https://roic.ai/company/CEIX " target="_blank">CEIX </a><a href="https://roic.ai/company/TECK " target="_blank">TECK </a><a href="https://roic.ai/company/THC" target="_blank">THC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20221231.pdf">FMI All Cap Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20221231.pdf">FMI International Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20221231.pdf">FMI Large Cap Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20221231.pdf">FMI Small Cap Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2023/01/Akre-Focus-Fund-Quarterly-Commentary-2022-Q4.pdf#page=1">Akre Focus Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/CVX" target="_blank">CVX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/CLVT" target="_blank">CLVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/SMG " target="_blank">SMG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2023/01/L1-Capital-International-December-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/CABO " target="_blank">CABO </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/RNR" target="_blank">RNR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/AJRD " target="_blank">AJRD </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/PRMW" target="_blank">PRMW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/POWL " target="_blank">POWL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3177">Miller/Howard Investments</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2023/01/Q4-2022-Letter.pdf">Distillate Capital</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/fourth-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/MASI " target="_blank">MASI </a><a href="https://roic.ai/company/PAYX" target="_blank">PAYX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1Hx6Xr-tM9Mx3JIMPUxYayyELiAXyniTs/view">Tidefall Capital Management</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/FFXDF" target="_blank">FFXDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lvsadvisory.com/wp-content/uploads/2023/01/LVS-Advisory-Letter-Q4-2022.pdf">LVS Advisory</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/BLK " target="_blank">BLK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://marvistainvestments.com/wp-content/uploads/2023/01/MVSGF-Annual-f.pdf">Mar Vista Strategic Growth Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2023/01/4Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/8833525b-02a0-40e1-9695-9a9cd1a399f9.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q4NP.pdf">Hoisington Investment Management</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2023_01_13.pdf">Myrmikan Research</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/4q2022-commentary">Whitebrook Capital Partners </a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/GBX " target="_blank">GBX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/xiexie/">Miller Income Strategy</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/BKE " target="_blank">BKE </a><a href="https://roic.ai/company/HEI.DE " target="_blank">HEI.DE </a><a href="https://roic.ai/company/VTRS " target="_blank">VTRS </a><a href="https://roic.ai/company/RILY" target="_blank">RILY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/opportunity-equity-4q2022-commentary/">Miller Opportunity Equity</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2023/01/CSCAX_2022-12-31_Shareholder_Letter.final_.pdf">Cove Street Capital</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/IEHC " target="_blank">IEHC </a><a href="https://roic.ai/company/LTRPA " target="_blank">LTRPA </a><a href="https://roic.ai/company/HRG " target="_blank">HRG </a><a href="https://roic.ai/company/CLMB " target="_blank">CLMB </a><a href="https://roic.ai/company/VMD " target="_blank">VMD </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/IAC " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/63c824e82a86e2382f1aa168/1674061033668/Upslope+-+2022Q4+Letter.pdf">Upslope Capital Management</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/ATS.TO " target="_blank">ATS.TO </a><a href="https://roic.ai/company/BOKF " target="_blank">BOKF </a><a href="https://roic.ai/company/GLT " target="_blank">GLT </a><a href="https://roic.ai/company/EMG.L" target="_blank">EMG.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1doYYSAqWjmIRwcA4eDFOLstWR-MRohbM/view">Tourlite Capital Management</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/PRM " target="_blank">PRM </a><a href="https://roic.ai/company/VRRM" target="_blank">VRRM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/63ccf8a1a226f819f483af77/1674377377319/2022+Q4.pdf">Blue Tower Asset Management</a></td><td width="14%">1/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/HLN " target="_blank">HLN </a><a href="https://roic.ai/company/TKELY" target="_blank">TKELY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/63d1d8d183cf42640381af79/1674696913242/GCAM+2022+Q4+Letter.pdf">Giverny Capital Asset Management</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/PGR " target="_blank">PGR </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/COHR " target="_blank">COHR </a><a href="https://roic.ai/company/ERFSF " target="_blank">ERFSF </a><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/ANET " target="_blank">ANET </a><a href="https://roic.ai/company/ANET " target="_blank">GOOG </a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2022.pdf">L1 Capital Long Short Fund</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-12.31.22.pdf">Baron Health Care Fund</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/CI " target="_blank">CI </a><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/OPCH " target="_blank">OPCH </a><a href="https://roic.ai/company/MRNA " target="_blank">MRNA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/63d197a2ce28fd77bcc26e1c/1674680226625/Nordstern+Capital+4Q2022+partnership+memo.pdf">Nordstern Capital</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-12.31.22.pdf">Baron Real Estate Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/TOL " target="_blank">TOL </a><a href="https://roic.ai/company/LEN " target="_blank">LEN </a><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/SHW " target="_blank">SHW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=638101946440000000">Weitz Hickory Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638101946440000000">Weitz Partners III Opportunity Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638101946440000000">Weitz Partners Value Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638101946440000000">Weitz Value Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202212/Commentary-Small-Cap-Fund-2022-12-31.pdf?c=638102647540000000">Diamond Hill Small Cap Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/GHC " target="_blank">GHC </a><a href="https://roic.ai/company/FTAI " target="_blank">FTAI </a><a href="https://roic.ai/company/GTES " target="_blank">GTES </a><a href="https://roic.ai/company/ODC" target="_blank">ODC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q4.pdf">Alphyn Capital Management</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/WANSF " target="_blank">WANSF </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/ALVO " target="_blank">ALVO </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/BAM " target="_blank">W</a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/63cae1d5aa9fb46a85ae910e/1674240470057/2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/MGAG " target="_blank">MGAG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/63cfc4a0af00443cc82de164/1674560672628/Q4%2722+letter.pdf">1 Main Capital Partners</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/deep-value-4q-2022-letter/">Miller Deep Value</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/TUP " target="_blank">TUP </a><a href="https://roic.ai/company/MHO " target="_blank">MHO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitefalconcap.com/_files/ugd/2e6ec1_7e624046f21548888a3ecaf044b00e69.pdf">White Falcon Capital Management</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/AMD" target="_blank">AMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2022/">Oakmark Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/MGA " target="_blank">MGA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2022/">Oakmark Global Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/STJ.L" target="_blank">STJ.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2022/">Oakmark Global Select Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/COF" target="_blank">COF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-fourth-quarter-2022/">Oakmark International Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/AKZOY " target="_blank">AKZOY </a><a href="https://roic.ai/company/SDVKY " target="_blank">SDVKY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-fourth-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/KNCRY " target="_blank">KNCRY </a><a href="https://roic.ai/company/TOWR.JK " target="_blank">TOWR.JK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2022/">Oakmark Select Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/ORCL " target="_blank">ORCL </a><a href="https://roic.ai/company/ICE" target="_blank">ICE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_e6373377fc8c4196920f4efbcca7a7b7.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/GIL " target="_blank">GIL </a><a href="https://roic.ai/company/SHOO" target="_blank">SHOO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/2022%20Q4%20Letter%20-%20Approved.pdf">Praetorian Capital </a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcvalueblog.files.wordpress.com/2023/01/mcintyre-partnerships-q4-2022-letter-publishing.pdf?force_download=true">McIntyre Partnerships</a></td><td width="14%">1/31/2023</td><td width="39%"><a href="https://roic.ai/company/SHC " target="_blank">SHC </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/wp-content/uploads/2023/01/Andvari-2022q4-letter.pdf">Andvari Associates</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/CPRT " target="_blank">CPRT </a><a href="https://roic.ai/company/CSGP " target="_blank">CSGP </a><a href="https://roic.ai/company/DBRG " target="_blank">DBRG </a><a href="https://roic.ai/company/MLAB " target="_blank">MLAB </a><a href="https://roic.ai/company/SPGI " target="_blank">SPGI </a><a href="https://roic.ai/company/SPGI " target="_blank">TYL</a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/63d33583c261f420b34ac709/1674786182483/4Q22+letter+final.pdf">Long Cast Advisers </a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/ENVX " target="_blank">ENVX </a><a href="https://roic.ai/company/RSSS" target="_blank">RSSS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/63da6e12308d0f3b2f039126/1675259411073/Q4+2022+Letter.pdf">Curreen Capital</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/ASAI.ST " target="_blank">ASAI.ST </a><a href="https://roic.ai/company/WIX.L" target="_blank">WIX.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ip-capitalpartners.com/reports/jan2023/#idc-9">IP-Capital Partners</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/63d47310894c822d74c8efc8/1674867472947/Q4+2022+NZS+Letter.pdf">NZS Capital</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/TDG " target="_blank">TDG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/DDOG" target="_blank">DDOG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vgipartners.com/wp-content/uploads/2023/01/VG1-2023-01-31_Investor-Letter-Year-to-December-2022-1.pdf">VGI Partners Global Investments</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/CME " target="_blank">CME </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DBOEY " target="_blank">DBOEY </a><a href="https://roic.ai/company/CFRUY " target="_blank">CFRUY </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/DIS " target="_blank">DIS </a><a href="https://roic.ai/company/RNMBY " target="_blank">RNMBY </a><a href="https://roic.ai/company/RNMBY " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://gatorcapital.com/wp-content/uploads/2023/01/20230124-GFP-2022-Year-End-Letter.pdf">Gator Capital Management</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/CG " target="_blank">CG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.legacyridgecapital.com/wp-content/uploads/2023/01/LRCM-2022-Letter.pdf">Legacy Ridge Capital Management</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/EPD " target="_blank">EPD </a><a href="https://roic.ai/company/NRG " target="_blank">NRG </a><a href="https://roic.ai/company/VST " target="_blank">VST </a><a href="https://roic.ai/company/DCP " target="_blank">DCP </a><a href="https://roic.ai/company/SMLP " target="_blank">SMLP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/63d9cd83dd3e94195b8bcabb/1675218307153/Maran+Partners+Fund+LP+2022+4Q+Letter.pdf">Maran Capital Management</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/CLAR " target="_blank">CLAR </a><a href="https://roic.ai/company/CTT.LS " target="_blank">CTT.LS </a><a href="https://roic.ai/company/VTY.L " target="_blank">VTY.L </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/63db08bc72bc814cc05fb5e4/1675299004295/2022+Investor+Letter.pdf">Worm Capital</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-12.31.22.pdf">Baron Asset Fund</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/ICLR" target="_blank">ICLR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=4Q2022">Ave Maria Funds</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/NJDCY " target="_blank">NJDCY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2023/02/VVP-Annual-Letter-22.12.31.pdf">Vulcan Value Partners</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary.pdf">Polen Capital - Focus Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary.pdf">Polen Capital - Global Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/NOW " target="_blank">NOW </a><a href="https://roic.ai/company/EL " target="_blank">EL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary.pdf">Polen Capital - Global SMID Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary.pdf">Polen Capital - International Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/HDB " target="_blank">HDB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary.pdf">Polen Capital - International Small Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/TOI.V " target="_blank">TOI.V </a><a href="https://roic.ai/company/ERF.PA" target="_blank">ERF.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary.pdf">Polen Capital - U.S. SMID Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/OLPX" target="_blank">OLPX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/OLPX " target="_blank">OLPX </a><a href="https://roic.ai/company/RH" target="_blank">RH</a><a href="https://roic.ai/company/CCCS " target="_blank">CCCS </a><a href="https://roic.ai/company/FSV" target="_blank">FSV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2023/01/Alluvial-Capital-Management-Q4-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/APR.WA " target="_blank">APR.WA </a><a href="https://roic.ai/company/JOB " target="_blank">JOB </a><a href="https://roic.ai/company/RVIC " target="_blank">RVIC </a><a href="https://roic.ai/company/FTLF " target="_blank">FTLF </a><a href="https://roic.ai/company/SXP.TO" target="_blank">SXP.TO</a><a href="https://roic.ai/company/SXP.TO" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/3fff1ea9d792aab7f6dffe0ab/files/b8d66142-70b7-62da-891b-ffa88af747a3/Sohra_Peak_Capital_Partners_Letter_to_Partners_Q4_2022.01.pdf">Sohra Peak Capital Partners</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-partners-fund-commentary/">Longleaf Partners Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/CNX " target="_blank">CNX </a><a href="https://roic.ai/company/AMG " target="_blank">AMG </a><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/WBD " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-global-fund-commentary/">Longleaf Partners Global Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-international-commentary/">Longleaf Partners International Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-small-cap-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/WEST " target="_blank">WEST </a><a href="https://roic.ai/company/MSGS " target="_blank">MSGS </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/commentary/q4-2022-investment-commentary-trends-to-consider-and-lessons-learned/">RGA Investment Advisors</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_c7c08886d89d4cf89bb65db91e98e16e.pdf">Arch Capital Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q4.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2023/02/DKAM-ROE-Reporter-January-2023-Final.pdf">Donville Kent Asset Management</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/RET.V" target="_blank">RET.V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/DDOG " target="_blank">DDOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/PODD " target="_blank">PODD </a><a href="https://roic.ai/company/XPO " target="_blank">XPO </a><a href="https://roic.ai/company/COUP " target="_blank">COUP </a><a href="https://roic.ai/company/CRWD " target="_blank">CRWD </a><a href="https://roic.ai/company/RXO " target="_blank">RXO </a><a href="https://roic.ai/company/GNRC " target="_blank">GNRC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_4Q_2022.pdf">Saltlight Capital </a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/RBLX " target="_blank">RBLX </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/TCEHY " target="_blank">TCEHY </a><a href="https://roic.ai/company/BAT.JO" target="_blank">BAT.JO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_79fa4050d7784ca2b9e622c574c9abb1.pdf">Greystone Capital Management</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/GFF " target="_blank">GFF </a><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/IDT " target="_blank">IDT </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/POL " target="_blank">POL </a><a href="https://roic.ai/company/POL " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lyricalam.com/wp-content/uploads/dlm_uploads/2023/01/LAM-2022-U.S.-Review-letter.pdf">Lyrical Asset Management</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q22.pdf">Horos Funds</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/BIDU " target="_blank">BIDU </a><a href="https://roic.ai/company/ALD.PA " target="_blank">ALD.PA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2023/01/PzenaNewsletter-Commentary-4Q22-1.pdf">Pzena Investment Management</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2022-q4.pdf?sfvrsn=a3f8909d_6">FPA Crescent Fund</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2022-q4.pdf?sfvrsn=8cfc909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/SJI " target="_blank">SJI </a><a href="https://roic.ai/company/RLI " target="_blank">RLI </a><a href="https://roic.ai/company/FN " target="_blank">FN </a><a href="https://roic.ai/company/AEL " target="_blank">AEL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-q4.pdf?sfvrsn=95029f9d_6">FPA U.S. Core Equity Fund</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DECK" target="_blank">DECK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20221231.pdf">Rondure Global</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2023/01/2022-Q4-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/CROX" target="_blank">CROX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/74a703a9-1e11-2b30-db6e-c2815a46b811/SilverRingValuePartners_2022Q4_Letter.pdf">Silver Ring Value Partners</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/FRII.TO " target="_blank">FRII.TO </a><a href="https://roic.ai/company/WINE.L " target="_blank">WINE.L </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2023/02/bumbershoot-holdings-e28094-2023-2-feb-e28094-letter-to-partners-e28094-2022.pdf">Bumbershoot Holdings</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/CHX " target="_blank">CHX </a><a href="https://roic.ai/company/INSP " target="_blank">INSP </a><a href="https://roic.ai/company/RXDX " target="_blank">RXDX </a><a href="https://roic.ai/company/XMTR " target="_blank">XMTR </a><a href="https://roic.ai/company/CYRX " target="_blank">CYRX </a><a href="https://roic.ai/company/SWAV" target="_blank">SWAV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/35d8bd09-7f9e-ae4b-c8ff-b0565d5b55c7/Fourth_Quarter_2022_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-12.31.22.pdf">Baron Opportunity Fund</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTTX-APDTX-APHTX-QCommentary-4Q22-vR.pdf">Artisan Focus Fund</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/63dffd210f60c8044b4ceeb4/1675623722432/Greenhaven+Road+-+2022+Q4+-+Final-.pdf">Greenhaven Road Capital</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/PAT.DE " target="_blank">PAT.DE </a><a href="https://roic.ai/company/CLAR" target="_blank">CLAR</a><a href="https://roic.ai/company/CLAR" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://a.storyblok.com/f/166217/x/c179ba3ef3/third-point-q4-2022-investor-letter-tpil.pdf">Third Point Offshore Fund</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/BBWI " target="_blank">BBWI </a><a href="https://roic.ai/company/CL " target="_blank">CL </a><a href="https://roic.ai/company/DD " target="_blank">DD </a><a href="https://roic.ai/company/PCG " target="_blank">PCG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/rubbing-my-nose-in-it">Mindset Value Fund</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/GLASF " target="_blank">GLASF </a><a href="https://roic.ai/company/ARA.MX" target="_blank">ARA.MX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/63cea6c741bdeb3f8c8d81c7/1674487496244/Laughing+Water+Capital+YE+2022.pdf">Laughing Water Capital</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/HGV " target="_blank">HGV </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/VTY.L " target="_blank">VTY.L </a><a href="https://roic.ai/company/LFCR" target="_blank">LFCR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/mispriced-inflation/">Crestcat Capital</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://docsend.com/view/mwmq48da78tdgkh6">Bonsai Partners</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2023/02/Epoch-Quarterly-Newsletter_February-2023.pdf">Epoch Investment Partners</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/APFDX-APDDX-APHDX-QCommentary-4Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/MPWR " target="_blank">MPWR </a><a href="https://roic.ai/company/2734.T" target="_blank">2734.T</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_67f9cc1047fc4d0b905d6ef6eb4b1c67.pdf">Emeth Value Capital</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/DESP" target="_blank">DESP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://srk-capital.com/content_files/2023/02/SRK_Fund_H2_2022_Letter.pdf">SRK Capital</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/HROW " target="_blank">HROW </a><a href="https://roic.ai/company/PYCFF " target="_blank">PYCFF </a><a href="https://roic.ai/company/HGBL " target="_blank">HGBL </a><a href="https://roic.ai/company/JOB " target="_blank">JOB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-12.31.22.pdf">Baron FinTech Fund</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2022-partner-letter-EdnTy8Rv">Artko Capital</a></td><td width="14%">2/17/2023</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/GAIA " target="_blank">GAIA </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/NTIC " target="_blank">PBPB </a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dea95dc8fdee044b6f12fb9/t/63dbf46300dbad51d9ee0c3e/1675359332413/Q4+and+2022+EOY+Update.pdf">MCJ Capital Partners</a></td><td width="14%">2/17/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/_files/ugd/3b0d6d_433685d4d14c4bad8e54f40609582792.pdf">Saga Partners</a></td><td width="14%">2/17/2023</td><td width="39%"><a href="https://roic.ai/company/RDFN " target="_blank">RDFN </a><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/4Q22%20-%20FV.html">Bireme Capital</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/BOIVF " target="_blank">BOIVF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-12.31.22.pdf">Baron Growth Fund</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/MSCI" target="_blank">MSCI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-12.31.22.pdf">Baron Partners Fund</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2023/02/HCM-Q4-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/ICFI" target="_blank">ICFI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/MEG " target="_blank">MEG </a><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/GKOS " target="_blank">GKOS </a><a href="https://roic.ai/company/XMTR" target="_blank">XMTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202022%20FINAL.pdf">Tweedy Browne</a></td><td width="14%">2/22/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-12.31.22.pdf">Baron Discovery Fund</a></td><td width="14%">2/23/2023</td><td width="39%"><a href="https://roic.ai/company/CDNA " target="_blank">CDNA </a><a href="https://roic.ai/company/DH " target="_blank">DH </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/QLYS " target="_blank">QLYS </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/CYBR " target="_blank">CYBR </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/PAR " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Growth-Fund-Quarterly-Letter-12.31.22.pdf">Baron Fifth Avenue Growth Fund</a></td><td width="14%">2/23/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-12.31.22_0.pdf">Baron Small Cap Fund</a></td><td width="14%">2/23/2023</td><td width="39%"><a href="https://roic.ai/company/NEOG " target="_blank">NEOG </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static.fmgsuite.com/media/documents/628dd5de-7bed-46cd-92d8-029b09a1fb15.pdf">Semper Augustus</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTMX-APDMX-APHMX-QCommentary-4Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/BSY " target="_blank">BSY </a><a href="https://roic.ai/company/HALO " target="_blank">HALO </a><a href="https://roic.ai/company/SAIA" target="_blank">SAIA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTSX-APDSX-APHSX-QCommentary-4Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/CTLT " target="_blank">CTLT </a><a href="https://roic.ai/company/SIVB " target="_blank">SIVB </a><a href="https://roic.ai/company/MKTX" target="_blank">MKTX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTKX-APDKX-APHKX-QCommentary-4Q22-vR.pdf">Artisan International Value Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTLX-APDLX-APHLX-QCommentary-4Q22-vR.pdf">Artisan Value Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/63dd05f6c16eff311b05b8d7/1675429367339/2022.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/SMEGF " target="_blank">SMEGF </a><a href="https://roic.ai/company/ADMLF " target="_blank">ADMLF </a><a href="https://roic.ai/company/CTTZF " target="_blank">CTTZF </a><a href="https://roic.ai/company/IXRRF " target="_blank">IXRRF </a><a href="https://roic.ai/company/LAC" target="_blank">LAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://img1.wsimg.com/blobby/go/ee65fbd7-2d89-48b3-83e6-be9864c38c3b/downloads/Nitor%20Capital%20Management%202023%20Annual%20Letter.pdf?ver=1676653916023">Nitor Capital</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.righttailcapital.com/_files/ugd/9593df_65907af5b9c94afbb864699330b2b145.pdf">Right Tail Capital</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/ROST " target="_blank">ROST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/wp-content/uploads/2023/02/ArielInvestmentTrustQuarterlyReport123122.pdf">Ariel Trust Funds</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/BOKF " target="_blank">BOKF </a><a href="https://roic.ai/company/CG " target="_blank">CG </a><a href="https://roic.ai/company/ZBRA" target="_blank">ZBRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/1e163043-f15e-1f02-9f6a-e8cece7f76e4/December_2022_Investor_Letter_End_of_free_moneyvfin.pdf">Richie Capital Group</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/FICO " target="_blank">FICO </a><a href="https://roic.ai/company/PERI " target="_blank">PERI </a><a href="https://roic.ai/company/RELL" target="_blank">RELL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.brontecapital.com/amalthea/Amalthea_Letter_202212.pdf">Bronte Capital</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/HLF " target="_blank">HLF </a><a href="https://roic.ai/company/GMHLF " target="_blank">GMHLF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2022-Q4-Aikya-Letter-Public-Bank.pdf">Aikya Funds</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/PBLOF " target="_blank">PBLOF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_4Q22_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mawer.com/assets/Uploads/4Q22-Quarterly.pdf">Mawer Mutual Funds</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/RKT " target="_blank">RKT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/PNGAY " target="_blank">PNGAY </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/OC" target="_blank">OC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/PNGAY " target="_blank">PNGAY </a><a href="https://roic.ai/company/CPNG " target="_blank">CPNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/COF " target="_blank">COF </a><a href="https://roic.ai/company/WFC " target="_blank">WFC </a><a href="https://roic.ai/company/BRK.B " target="_blank">BRK.B </a><a href="https://roic.ai/company/AMAT " target="_blank">AMAT </a><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/COF " target="_blank">COF </a><a href="https://roic.ai/company/WFC " target="_blank">WFC </a><a href="https://roic.ai/company/BRK.B " target="_blank">BRK.B </a><a href="https://roic.ai/company/AMAT " target="_blank">AMAT </a><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="Templeton+&+Phillips+-+2022+Letter+-+Public.pdf (squarespace.com)">Templeton & Phillips Capital Management</a></td><td width="14%">2/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rvcapital.ch/post/2022-letter-to-co-investors-in-business-owner?utm_campaign=ca72bd39-5c54-4309-82dd-c8ff9d204193&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="14%">2/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.deepsailcapital.com/_files/ugd/50dba3_1fee3e85d4804f44b1b7f4e0b0453d73.pdf">Deep Sail Capital</a></td><td width="14%">3/01/2023</td><td width="39%"><a href="https://roic.ai/company/LEAT " target="_blank">LEAT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/57eff176e58c621a298bfa61/t/63c31bd9cf3aa73258174080/1673731033092/Plural+Partners+Fund+Letter+-+2022%3AQ4.pdf">Plural Investing</a></td><td width="14%">3/02/2023</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/DRTGF " target="_blank">DRTGF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/63f66bc227a3227f4d574179/1677093827154/Kinsman+Oak+-+FY+2022+Letter+vCommentary.pdf">Kinsman Oak Equity Fund</a></td><td width="14%">3/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://evermoreglobal.com/media/pdfs/evermore_annual_report.pdf">Evermore Global Value Fund</a></td><td width="14%">3/03/2023</td><td width="39%"><a href="https://roic.ai/company/INW.MI " target="_blank">INW.MI </a><a href="https://roic.ai/company/HOEGF " target="_blank">HOEGF </a><a href="https://roic.ai/company/CLMT " target="_blank">CLMT </a><a href="https://roic.ai/company/AASZF " target="_blank">AASZF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/63ffdbf2cfa90630a0b07567/1677712371223/2022+Q4_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="14%">3/03/2023</td><td width="39%"><a href="https://roic.ai/company/ALTG " target="_blank">ALTG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/c2c02322-09f5-a9e7-0cc2-5c1d5994635c/030923_Bonhoeffer_Partner_Letter_Q4_2022.pdf">Bonhoeffer Capital Management</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/KT " target="_blank">KT </a><a href="https://roic.ai/company/TIIAY " target="_blank">TIIAY </a><a href="https://roic.ai/company/SSP " target="_blank">SSP </a><a href="https://roic.ai/company/GTN " target="_blank">GTN </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/BLDR " target="_blank">BLDR </a><a href="https://roic.ai/company/NICE" target="_blank">NICE</a><a href="https://roic.ai/company/NICE" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/FEM/2022/HL-FEM-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner Global Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Cos-Quarterly-Report-4Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/VAIAS.HE " target="_blank">VAIAS.HE </a><a href="https://roic.ai/company/TMRAY " target="_blank">TMRAY </a><a href="https://roic.ai/company/0QKB.L" target="_blank">0QKB.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner International Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-Intl-Small-Cos-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.appleseedfund.com/wp-content/uploads/2022/12/2022-Appleseed-annual-letter.pdf">Appleseed Fund</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmharbourcapital.com/files/PHC_Letter_Q4_2022_FINAL_EN.pdf">Palm Harbour Capital</a></td><td width="14%">3/16/2023</td><td width="39%"><a href="https://roic.ai/company/LNA.PA" target="_blank">LNA.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fundsmith.co.uk/media/bm0lyc22/annual-letter-to-shareholders-2022.pdf">Fundsmith Equity Fund</a></td><td width="14%">3/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href=""></a></td><td width="14%"> </td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">3rd Quarter 2022</span>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/10/STJIC-Adviser-Letter-2022-Q3.pdf">St. James Investment Company </a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_72_en.pdf">Vltava Fund</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ATD.TO " target="_blank">ATD.TO </a><a href="https://roic.ai/company/BRK-B " target="_blank">BRK-B </a><a href="https://roic.ai/company/BMW.DE " target="_blank">BMW.DE </a><a href="https://roic.ai/company/CVS " target="_blank">CVS </a><a href="https://roic.ai/company/JPM " target="_blank">JPM </a><a href="https://roic.ai/company/LMT " target="_blank">LMT </a><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/MKL " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/633c8df908400e1e6f281e9b/1664912890141/Q32022.pdf">Comus Investments</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/2022-q3-letter/">Moon Capital</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ALLY " target="_blank">ALLY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6343a480b2dc737b6247b478/1665377408612/2022+Q3.pdf">Blue Tower Asset Management</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ENVA" target="_blank">ENVA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/10/QUARTERLY-REPORT-WEB-Sept-2022.pdf">East72 Holdings</a></td><td width="14%">10/17/2022</td><td width="39%"><a href="https://roic.ai/company/MSGS " target="_blank">MSGS </a><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_0c3a777e46d8414cbd20c537775e892e.pdf">Palm Valley Capital Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/KELYA " target="_blank">KELYA </a><a href="https://roic.ai/company/MAN " target="_blank">MAN </a><a href="https://roic.ai/company/SNN " target="_blank">SNN </a><a href="https://roic.ai/company/SRM " target="_blank">SRM </a><a href="https://roic.ai/company/CRDA" target="_blank">CRDA</a><a href="https://roic.ai/company/WHGLY " target="_blank">WHGLY </a><a href="https://roic.ai/company/ODC" target="_blank">ODC</a><a href="https://roic.ai/company/ODC" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/10/3Q-2022-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/10/3Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/FIVN " target="_blank">FIVN </a><a href="https://roic.ai/company/BKNG" target="_blank">BKNG</a><a href="https://roic.ai/company/INTU " target="_blank">INTU </a><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/WDAY " target="_blank">WDAY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_3Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_3bc0278b487a4c69988e2ef2f44627ca.pdf">Old West Capital Management</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/FIL.TO " target="_blank">FIL.TO </a><a href="https://roic.ai/company/FLMMF" target="_blank">FLMMF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3162">Miller/Howard Investments</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/wp-content/uploads/2022/10/Andvari-2022q3-letter-1.pdf">Andvari Associates</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/634db41b0b7dab72e4496ebd/1666036763837/GCAM+2022+Q3+letter+.pdf">Giverny Capital Asset Management</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/63480ee00d8483044cb4a8f7/1665666784591/Q3+2022+Letter.pdf">Curreen Capital</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2022.pdf">L1 Capital Long Short Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/10/L1-Capital-International-September-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-09.30.22.pdf">Baron Health Care Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/HUM " target="_blank">HUM </a><a href="https://roic.ai/company/ALNY " target="_blank">ALNY </a><a href="https://roic.ai/company/DHR " target="_blank">DHR </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/ISRG" target="_blank">ISRG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_5f53ace924b14d07a30f8e7c99be4a78.pdf">Merion Road Capital</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/SIX " target="_blank">SIX </a><a href="https://roic.ai/company/CRMT " target="_blank">CRMT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_10_18.pdf">Myrmikan Research</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/10/Akre-Focus-Fund-Quarterly-Commentary-2022-Q3.pdf#page=1">Akre Focus Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/third-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220930.pdf">FMI All Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/AVY " target="_blank">AVY </a><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220930.pdf">FMI International Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/BME.L " target="_blank">BME.L </a><a href="https://roic.ai/company/HWDN.L" target="_blank">HWDN.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220930.pdf">FMI Large Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/AVY " target="_blank">AVY </a><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220930.pdf">FMI Small Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/SSD " target="_blank">SSD </a><a href="https://roic.ai/company/G" target="_blank">G</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/MS" target="_blank">MS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/ACGL " target="_blank">ACGL </a><a href="https://roic.ai/company/ALC" target="_blank">ALC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/MKSI " target="_blank">MKSI </a><a href="https://roic.ai/company/ROST" target="_blank">ROST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_335ac33761cb41fca0df619b92792f4e.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/EZJ.L" target="_blank">EZJ.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/CEG " target="_blank">CEG </a><a href="https://roic.ai/company/SWKS " target="_blank">SWKS </a><a href="https://roic.ai/company/AAP " target="_blank">AAP </a><a href="https://roic.ai/company/TCBI" target="_blank">TCBI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/NOV " target="_blank">NOV </a><a href="https://roic.ai/company/PDCO " target="_blank">PDCO </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/PLOW " target="_blank">PLOW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/10/Q3-2022-Letter.pdf">Distillate Capital</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-09.30.22_0.pdf">Baron Asset Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/LPLA" target="_blank">LPLA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-09.30.22.pdf">Baron Real Estate Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/PLD " target="_blank">PLD </a><a href="https://roic.ai/company/NTST " target="_blank">NTST </a><a href="https://roic.ai/company/SBAC " target="_blank">SBAC </a><a href="https://roic.ai/company/REXR " target="_blank">REXR </a><a href="https://roic.ai/company/POOL" target="_blank">POOL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-09.30.22.pdf">Baron Discovery Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/TXRH " target="_blank">TXRH </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/CDNA " target="_blank">CDNA </a><a href="https://roic.ai/company/NVTS " target="_blank">NVTS </a><a href="https://roic.ai/company/SMRT" target="_blank">SMRT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q3.pdf">Alphyn Capital Management</a></td><td width="14%">10/23/2022</td><td width="39%"><a href="https://roic.ai/company/WAND.L " target="_blank">WAND.L </a><a href="https://roic.ai/company/AHT.L " target="_blank">AHT.L </a><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/IAC" target="_blank">IAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/634e89d6a2cbef04f1622a8f/1666091479613/Upslope+-+2022Q3+Letter.pdf">Upslope Capital Management</a></td><td width="14%">10/23/2022</td><td width="39%"><a href="https://roic.ai/company/CACI " target="_blank">CACI </a><a href="https://roic.ai/company/BOMXF" target="_blank">BOMXF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tidefallcapital.com/_files/ugd/8a849d_3fae497374bf484ea2ff05fa846574c9.pdf">Tidefall Capital Management</a></td><td width="14%">10/25/2022</td><td width="39%"><a href="https://roic.ai/company/FFH.TO" target="_blank">FFH.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/10/Alluvial-Capital-Management-Q3-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="14%">10/25/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/BFCC " target="_blank">BFCC </a><a href="https://roic.ai/company/UBAB " target="_blank">UBAB </a><a href="https://roic.ai/company/CBOBA " target="_blank">CBOBA </a><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/JOB" target="_blank">JOB</a><a href="https://roic.ai/company/JOB" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q3NP.pdf">Hoisington Investment Management</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-3Q2022.pdf.pdf">Polen - U.S. SMID Company Growth </a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/EEFT " target="_blank">EEFT </a><a href="https://roic.ai/company/BMBL" target="_blank">BMBL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-3Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/ILMN" target="_blank">ILMN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2022.pdf">Polen Capital - Global Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/OR.PA" target="_blank">OR.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - Global SMID Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2022.pdf">Polen Capital - International Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/KER.PA " target="_blank">KER.PA </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/EVO.ST" target="_blank">EVO.ST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=638023291350000000">Weitz Hickory Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/CHTR " target="_blank">CHTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638023291350000000">Weitz Partners III Opportunity Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638023291350000000">Weitz Partners Value Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638023291350000000">Weitz Value Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-09.30.22.pdf">Baron Small Cap Fund</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/CAKE " target="_blank">CAKE </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/CLVT" target="_blank">CLVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-09.30.22.pdf">Baron Opportunity Fund</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/MPWR " target="_blank">MPWR </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/NET " target="_blank">NET </a><a href="https://roic.ai/company/INDI" target="_blank">INDI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/636060c8d7eb05165dcc49f4/1667260616405/NZS+Capital+Q3+2022+Letter.pdf">NZS Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.okeefestevens.com/wp-content/uploads/2022/10/Q3-2022-Letter-1.pdf">O'Keefe Stevens</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/LAZ " target="_blank">LAZ </a><a href="https://roic.ai/company/SRG " target="_blank">SRG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-q3-2022-letter">Rowan Street Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1izeodANnozDBAGIUqaBbVZDbA3pC3it4/view">Greenlight Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/6360899201fcc54056e8475f/1667271058990/Nordstern+Capital+3Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/3q2022-commentary">Whitebrook Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/BOX" target="_blank">BOX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/2baa1d32-1047-4534-86e2-f8957c0774de.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/CHRD " target="_blank">CHRD </a><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/SRC" target="_blank">SRC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llin-commentary/">Longleaf Partners International Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=3Q2022">Ave Maria Funds</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/DBRG " target="_blank">DBRG </a><a href="https://roic.ai/company/EDR.MC " target="_blank">EDR.MC </a><a href="https://roic.ai/company/AMMO" target="_blank">AMMO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/APFDX-APDDX-APHDX-QCommentary-3Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTKX-APDKX-APHKX-QCommentary-3Q22-vR.pdf">Artisan International Value Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTMX-APDMX-APHMX-QCommentary-3Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTSX-APDSX-APHSX-QCommentary-3Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/MTSI " target="_blank">MTSI </a><a href="https://roic.ai/company/IRTC " target="_blank">IRTC </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTLX-APDLX-APHLX-QCommentary-3Q22-vR.pdf">Artisan Value Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTTX-APDTX-APHTX-QCommentary-3Q22-vR.pdf">Artisan Focus Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2022/10/RGAIA-Q322-INVESTMENT-COMMENTARY.pdf">RGA Investment Advisors</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/BMY " target="_blank">BMY </a><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/MXCT " target="_blank">MXCT </a><a href="https://roic.ai/company/REGN" target="_blank">REGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/6345b2150a72d45aebb4ca7b/1665511958488/3Q22+letter+FINAL.pdf">Long Cast Advisers </a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_38844241568340438328f3a4b83aa589.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/LDOS " target="_blank">LDOS </a><a href="https://roic.ai/company/TTC" target="_blank">TTC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q3.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/5h5ztiwrudtejz4/2022_CTG_InvestorLetter_II.pdf?dl=0">Canterbury Tollgate</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/11/2022Q3-Commentary.pdf">Palm Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2022/10/CSCAX_2022-09-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/ECVT " target="_blank">ECVT </a><a href="https://roic.ai/company/GBLI " target="_blank">GBLI </a><a href="https://roic.ai/company/WSTG " target="_blank">WSTG </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/VSAT " target="_blank">VSAT </a><a href="https://roic.ai/company/CARG" target="_blank">CARG</a><a href="https://roic.ai/company/CARG" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/rising-uncertainty-greater-value-potential/">Miller Deep Value</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/TPC " target="_blank">TPC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/pop-goes-the-safety-bubble/">Miller Income Strategy</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/ARLP " target="_blank">ARLP </a><a href="https://roic.ai/company/CHK " target="_blank">CHK </a><a href="https://roic.ai/company/BKE " target="_blank">BKE </a><a href="https://roic.ai/company/OGN " target="_blank">OGN </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/VTRS" target="_blank">VTRS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/miller-opportunity-equity-3q2022-commentary/">Miller Opportunity Trust</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/10/HCM-Q3-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/UFPT" target="_blank">UFPT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/3Q22%20-%20FV.html">Bireme Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/11/Epoch-Quarterly-Newsletter_November-2022.pdf">Epoch Investment Partners</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/abb1a0_d96d3b63ef9249a4a1778f8368c0d997.pdf">Arch Capital Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/ADSK" target="_blank">ADSK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2022/11/VVP-Quarterly-Letter-22.09.30.pdf">Vulcan Value Partners</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-Q322.pdf">Horos Funds</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2022/10/2022-Q3-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/WCC " target="_blank">WCC </a><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/OEC " target="_blank">OEC </a><a href="https://roic.ai/company/FARM" target="_blank">FARM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2022/">Oakmark Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/FBHS " target="_blank">FBHS </a><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2022/">Oakmark Global Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-third-quarter-2022/">Oakmark Global Select Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-third-quarter-2022/">Oakmark International Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-third-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2022/">Oakmark Select Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/KKR" target="_blank">KKR</a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/WFC" target="_blank">WFC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q3-2022-Review-1.pdf">Horizon Kinetics</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-09.30.22.pdf">Baron FinTech Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/FDS " target="_blank">FDS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-09.30.22.pdf">Baron Growth Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Growth-Fund-Quarterly-Letter-09.30.22.pdf">Baron Fifth Avenue Growth Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/TEAM " target="_blank">TEAM </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-09.30.22.pdf">Blue Hawk Investment Group </a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202209/Commentary-Small-Cap-Fund-2022-09-30.pdf?c=638041193440000000">Diamond Hill Small Cap Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_88fbbb3c8834487e9613e5d9b99bcdb2.pdf">Greystone Capital Management</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/POL " target="_blank">POL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/bc1677a8-bc5f-f676-765a-c17cf163274d/Third_Quarter_2022_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20220930.pdf">Rondure Global</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/63828b47a89b9902cff228f3/1669499719982/Greenhaven+Road+-+2022+Q3+final.pdf">Greenhaven Road Capital</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/HGTY " target="_blank">HGTY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lvsadvisory.com/wp-content/uploads/2022/11/LVS-Advisory-Letter-Q3-2022.pdf">LVS Advisory</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1YX1wN-8uUGmgpr-7WONZxhWgmdHNE4xD/view">Andaz Private Investments</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/CEG " target="_blank">CEG </a><a href="https://roic.ai/company/PCTY " target="_blank">PCTY </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/AVTR " target="_blank">AVTR </a><a href="https://roic.ai/company/MRCY " target="_blank">MRCY </a><a href="https://roic.ai/company/SGEN" target="_blank">SGEN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/RBC " target="_blank">RBC </a><a href="https://roic.ai/company/SWAV " target="_blank">SWAV </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/MRCY " target="_blank">MRCY </a><a href="https://roic.ai/company/HSKA " target="_blank">HSKA </a><a href="https://roic.ai/company/QDEL" target="_blank">QDEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/AMRC " target="_blank">AMRC </a><a href="https://roic.ai/company/SPSC " target="_blank">SPSC </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/DRQ " target="_blank">DRQ </a><a href="https://roic.ai/company/DH" target="_blank">DH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6351f52d0605461c7ccb2368/1666315566155/Q3+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/BFCC " target="_blank">BFCC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/11/DKAM-ROE-Reporter-November-2022-Final-1.pdf">Donville Kent Asset Management</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/">Ariel Trust Funds</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/GNRC " target="_blank">GNRC </a><a href="https://roic.ai/company/SJM " target="_blank">SJM </a><a href="https://roic.ai/company/AD.AS " target="_blank">AD.AS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://dmzpartners.in/Documents/Files/DMZ-1953-DMZ-Partners-Semi-Annual-FY-22-23-(Redacted).pdf">DMZ Partners</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">2nd Quarter 2022</span>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="https://andvariassociates.com/q2-2022-letter">Andvari Associates</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE" target="_blank">ADBE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/62c34100d8a0b71baa04f0d6/1656963328450/Q22022.pdf">Comus Investments</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/07/STJIC-Adviser-Letter-2022-Q2.pdf">St. James Investment Company </a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_71_en.pdf">Vltava Fund</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/CVE" target="_blank">CVE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_9ed0664cbf44487498dabef6136c34a9.pdf">Palm Valley Capital Fund</a></td><td width="13%">7/11/2022</td><td width="39%"><a href="https://roic.ai/company/CRI " target="_blank">CRI </a><a href="https://roic.ai/company/ORI " target="_blank">ORI </a><a href="https://roic.ai/company/HOFT " target="_blank">HOFT </a><a href="https://roic.ai/company/LSDAF " target="_blank">LSDAF </a><a href="https://roic.ai/company/NATH" target="_blank">NATH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/q2-2022-letter/">Moon Capital</a></td><td width="13%">7/11/2022</td><td width="39%"><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/07/QUARTERLY-REPORT-WEB-June-2022.pdf">East72 Holdings</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/UHAL" target="_blank">UHAL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220630.pdf">FMI All Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220630.pdf">FMI International Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220630.pdf">FMI Large Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220630.pdf">FMI Small Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/07/Akre-Focus-Fund-Quarterly-Commentary-2022-Q2.pdf#page=1">Akre Focus Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LNSTY" target="_blank">LNSTY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-june-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LNSTY" target="_blank">LNSTY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_1873be9d3ce44fc3b5c369e601b24bf2.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/POOL " target="_blank">POOL </a><a href="https://roic.ai/company/SBUX " target="_blank">SBUX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DiversifiedIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/FWONA " target="_blank">FWONA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/MODN" target="_blank">MODN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.okeefestevens.com/the-value-connection-q3-2022/">O'Keefe Stevens</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_c3d41bb31a4e4fceaeda7fd688900816.pdf">Merion Road Capital</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/WHG" target="_blank">WHG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/07/2Q-2022-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/07/2Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2022.pdf">L1 Capital Long Short Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/CVE " target="_blank">CVE </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/BLSFF " target="_blank">BLSFF </a><a href="https://roic.ai/company/CSCCF " target="_blank">CSCCF </a><a href="https://roic.ai/company/MALRF " target="_blank">MALRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/07/L1-Capital-International-June-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/EXP " target="_blank">EXP </a><a href="https://roic.ai/company/LPX " target="_blank">LPX </a><a href="https://roic.ai/company/GPK " target="_blank">GPK </a><a href="https://roic.ai/company/IQV" target="_blank">IQV</a><a href="https://roic.ai/company/IQV" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/62cbc62477b6d55880a73619/1657521700839/2022+Q2.pdf">Blue Tower Asset Management</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/TWLO " target="_blank">TWLO </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/NKE " target="_blank">NKE </a><a href="https://roic.ai/company/ADYEY " target="_blank">ADYEY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_2Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/62cdd2395fa0eb484016f5ee/1657655865394/NZS+Capital+Q2+2022+Letter.pdf">NZS Capital</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/62d2310dc4c1847abbeb2e81/1657942290214/Worm+Capital+-+Q2+2022+Investor+Letter+-+Final.pdf">Worm Capital</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_3d822183168e4209b8a3667996b689ba.pdf">Old West Capital Management</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/LMT" target="_blank">LMT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/07/Q2-2022-letter.pdf">Distillate Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/COLD " target="_blank">COLD </a><a href="https://roic.ai/company/FIBK " target="_blank">FIBK </a><a href="https://roic.ai/company/SNA " target="_blank">SNA </a><a href="https://roic.ai/company/G " target="_blank">G </a><a href="https://roic.ai/company/THO " target="_blank">THO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/CSV " target="_blank">CSV </a><a href="https://roic.ai/company/STKL " target="_blank">STKL </a><a href="https://roic.ai/company/DINO " target="_blank">DINO </a><a href="https://roic.ai/company/NWPX " target="_blank">NWPX </a><a href="https://roic.ai/company/CECE " target="_blank">CECE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/POWL " target="_blank">POWL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/62d84967f06fb35bcb155c28/1658341735984/Q2+2022+Letter.pdf">Curreen Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q2.pdf">Alphyn Capital Management</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/CRSS " target="_blank">CRSS </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/W " target="_blank">W </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3141">Miller/Howard Investments</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/62d79087a80fcc2f5c2d10b3/1658294408196/Nordstern+Capital+2Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/ARCH " target="_blank">ARCH </a><a href="https://roic.ai/company/ERJ " target="_blank">ERJ </a><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/EVVTY " target="_blank">EVVTY </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-06.30.22.pdf">Baron Health Care Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/BMY " target="_blank">BMY </a><a href="https://roic.ai/company/VRTX " target="_blank">VRTX </a><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/INGEF " target="_blank">INGEF </a><a href="https://roic.ai/company/VESTF " target="_blank">VESTF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/DHI " target="_blank">DHI </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/SUPN " target="_blank">SUPN </a><a href="https://roic.ai/company/CCF " target="_blank">CCF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/THYCF " target="_blank">THYCF </a><a href="https://roic.ai/company/AJMPF " target="_blank">AJMPF </a><a href="https://roic.ai/company/SCPPF" target="_blank">SCPPF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/2q2022-commentary">Whitebrook Capital</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/ITRI " target="_blank">ITRI </a><a href="https://roic.ai/company/AFYA " target="_blank">AFYA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-1h-2022-letter">Rowan Street Capital</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/PTON " target="_blank">PTON </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-06.30.22.pdf">Baron Discovery Fund</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/GWRE " target="_blank">GWRE </a><a href="https://roic.ai/company/ASGN " target="_blank">ASGN </a><a href="https://roic.ai/company/CDAY " target="_blank">CDAY </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/ESTA " target="_blank">ESTA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-06.30.22.pdf">Baron Real Estate Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/AVB " target="_blank">AVB </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/FBHS " target="_blank">FBHS </a><a href="https://roic.ai/company/DLR " target="_blank">DLR </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/second-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/NOW " target="_blank">NOW </a><a href="https://roic.ai/company/MASI " target="_blank">MASI </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/FAF " target="_blank">FAF </a><a href="https://roic.ai/company/HD" target="_blank">HD</a><a href="https://roic.ai/company/HD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/94923153-a150-4b32-838d-a5f30725880d.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/CADE " target="_blank">CADE </a><a href="https://roic.ai/company/HHC " target="_blank">HHC </a><a href="https://roic.ai/company/TRNO" target="_blank">TRNO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/62d7ddf71cba2f101dd6f698/1658314232755/Upslope+-+2022Q2+Letter.pdf">Upslope Capital Management</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/BALL " target="_blank">BALL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q2NP.pdf">Hoisington Investment Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q2-2022-Review_FINAL_2.pdf">Horizon Kinetics</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/WPM " target="_blank">WPM </a><a href="https://roic.ai/company/ATUSF " target="_blank">ATUSF </a><a href="https://roic.ai/company/ATRWF " target="_blank">ATRWF </a><a href="https://roic.ai/company/CME " target="_blank">CME </a><a href="https://roic.ai/company/PREKF" target="_blank">PREKF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2022/">Oakmark Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/DIS " target="_blank">DIS </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/MAS " target="_blank">MAS </a><a href="https://roic.ai/company/ORCL " target="_blank">ORCL </a><a href="https://roic.ai/company/PH" target="_blank">PH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2022/">Oakmark Global Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-quarter-2022/">Oakmark Global Select Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-quarter-2022/">Oakmark International Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/CS " target="_blank">CS </a><a href="https://roic.ai/company/PPRUY" target="_blank">PPRUY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-second-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/ELEEF " target="_blank">ELEEF </a><a href="https://roic.ai/company/ATEAY " target="_blank">ATEAY </a><a href="https://roic.ai/company/FLUIF " target="_blank">FLUIF </a><a href="https://roic.ai/company/NEXXY " target="_blank">NEXXY </a><a href="https://roic.ai/company/XPG.F" target="_blank">XPG.F</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2022/">Oakmark Select Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/07/Alluvial-Capital-Management-Q2-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/GTXAP " target="_blank">GTXAP </a><a href="https://roic.ai/company/TIMB " target="_blank">TIMB </a><a href="https://roic.ai/company/BSND " target="_blank">BSND </a><a href="https://roic.ai/company/CUSI" target="_blank">CUSI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/62cf0ec135184b57392bd28a/1657736897912/GCAM+Q2+2022+letter_.pdf">Giverny Capital Asset Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/ASHTF " target="_blank">ASHTF </a><a href="https://roic.ai/company/ADI " target="_blank">ADI </a><a href="https://roic.ai/company/FND" target="_blank">FND</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202206/Commentary-Small-Cap-Fund-2022-06-30.pdf?c=637941173470000000">Diamond Hill Small Cap Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/FA " target="_blank">FA </a><a href="https://roic.ai/company/ECOM " target="_blank">ECOM </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/ESAB " target="_blank">ESAB </a><a href="https://roic.ai/company/ENOV" target="_blank">ENOV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/values-opportunity-in-uncertain-times/">Pzena Investment Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_07_13.pdf">Myrmikan Research</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/EVH " target="_blank">EVH </a><a href="https://roic.ai/company/CYRX " target="_blank">CYRX </a><a href="https://roic.ai/company/GO " target="_blank">GO </a><a href="https://roic.ai/company/HRI " target="_blank">HRI </a><a href="https://roic.ai/company/ATRC " target="_blank">ATRC </a><a href="https://roic.ai/company/INSP" target="_blank">INSP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/APPL " target="_blank">APPL </a><a href="https://roic.ai/company/MSFT" target="_blank">MSFT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/low-valuation-securities-remain-attractive/">Miller Deep Value</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/AXL " target="_blank">AXL </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/FTI " target="_blank">FTI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WMB " target="_blank">WMB </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/GE" target="_blank">GE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2qllgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2q-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WHGLY " target="_blank">WHGLY </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/DPZ " target="_blank">DPZ </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/EXXRF" target="_blank">EXXRF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2qllsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/OSCR " target="_blank">OSCR </a><a href="https://roic.ai/company/VMEO " target="_blank">VMEO </a><a href="https://roic.ai/company/HOUS " target="_blank">HOUS </a><a href="https://roic.ai/company/ESRT " target="_blank">ESRT </a><a href="https://roic.ai/company/WEST" target="_blank">WEST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2022/07/CSCAX_2022-06-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/HNRG " target="_blank">HNRG </a><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/VSAT " target="_blank">VSAT </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/INFU " target="_blank">INFU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=4Q2021">Ave Maria Funds</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/BAMR " target="_blank">BAMR </a><a href="https://roic.ai/company/GPRE " target="_blank">GPRE </a><a href="https://roic.ai/company/CHK " target="_blank">CHK </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/MIR " target="_blank">MIR </a><a href="https://roic.ai/company/STNE" target="_blank">STNE</a><a href="https://roic.ai/company/STNE" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mawer.com/tools-and-resources/mawer-quarterly/second-quarter-2022/">Mawer Mutual Funds</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ip-capitalpartners.com/reports/turbulencia-disciplina-e-oportunidades/">IP-Capital Partners</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/CHTR " target="_blank">CHTR </a><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637941317810000000">Weitz Hickory Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637941317810000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637941317810000000">Weitz Partners Value Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637941317810000000">Weitz Value Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202206.pdf">Bronte Capital</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/62e2e2f20516c810ef10968d/1659036402933/Q2%2722+letter.pdf">1 Main Capital Partners</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/KKR" target="_blank">KKR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_3fd6189e2a71450f962f24f91188aa47.pdf">Emeth Value Capital</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/DECPF" target="_blank">DECPF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_2Q_2022.pdf">Saltlight Capital </a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/Q2%202022%20Investor%20Letter.pdf">Praetorian Capital </a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_6b3d9dfea2cc42fb9f2318b7c81a7061.pdf">Greystone Capital Management</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/IDT " target="_blank">IDT </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/ec64f82f-10b4-eda5-697d-61f8bc7c5f50/Second_Quarter_2022_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5a57e9fd53450ad1027d1e2f/1515710973971/Maran+Partners+Fund+LP+Founders+Letter_Web.pdf">Maran Capital Management</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-2Q2022.pdf">Polen - U.S. SMID Company Growth </a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-2Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/ABNB " target="_blank">ABNB </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2022.pdf">Polen Capital - Global Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2022.pdf">Polen Capital - International Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1659734271304">Miller Income Strategy</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/HRB " target="_blank">HRB </a><a href="https://roic.ai/company/ARLP " target="_blank">ARLP </a><a href="https://roic.ai/company/HMPT " target="_blank">HMPT </a><a href="https://roic.ai/company/JXN" target="_blank">JXN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1659734087106">Miller Opportunity Trust</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/UAL " target="_blank">UAL </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/KRTX " target="_blank">KRTX </a><a href="https://roic.ai/company/NCLH " target="_blank">NCLH </a><a href="https://roic.ai/company/COIN " target="_blank">COIN </a><a href="https://roic.ai/company/BHC" target="_blank">BHC</a><a href="https://roic.ai/company/BHC" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/2Q22%20-%20FV.html">Bireme Capital</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/08/Epoch-Quarterly-Newsletter_July-2022.pdf">Epoch Investment Partners</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/62e2cb493d43c21e9376276e/1659030345791/Q2+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/WCRS " target="_blank">WCRS </a><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/07/HCM-Q2-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/QLYS " target="_blank">QLYS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20220630.pdf">Rondure Global</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1FS2qH8wCrX1GJzXVnCNKruC88PSVEAeM/view">Tidefall Capital Management</a></td><td width="13%">8/06/2022</td><td width="39%"><a href="https://roic.ai/company/ONEXF" target="_blank">ONEXF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_263985b67ed3417898a45ca656079240.pdf">Arch Capital Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/IAC" target="_blank">IAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1q4vlkXfomG1UDoGDBOdqVQza0UfOwLFB/view">Andaz Private Investments</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2022/08/VVP-Quarterly-Letter-22.06.30.pdf">Vulcan Value Partners</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/SNBR " target="_blank">SNBR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/62ea7798a152c62213de90d3/1659533208350/2022+Q2_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/EXTR" target="_blank">EXTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2022-q2.pdf?sfvrsn=178909d_4">FPA Crescent Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-value-fund/literature/fpa-qr-value-fund-commentary-2022-q2.pdf?sfvrsn=127d909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-06.pdf?sfvrsn=9d78909d_4">FPA U.S. Core Equity Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/62d556904064b731387d7ff0/1658148496935/Laughing+Water+Capital+1H%2722.pdf">Laughing Water Capital</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/AIMFF " target="_blank">AIMFF </a><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/LNDC " target="_blank">LNDC </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/FREE " target="_blank">FREE </a><a href="https://roic.ai/company/TACT" target="_blank">TACT</a><a href="https://roic.ai/company/TACT" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/commentary/q2-2022/">RGA Investment Advisors</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/MXCT" target="_blank">MXCT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q22.pdf">Horos Funds</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2022/07/2022-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/FARM " target="_blank">FARM </a><a href="https://roic.ai/company/OEC " target="_blank">OEC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-06.30.22.pdf">Baron Asset Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/ICLR " target="_blank">ICLR </a><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-06.30.22.pdf">Baron FinTech Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/PGR" target="_blank">PGR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-06.30.22.pdf">Baron Growth Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/2Q22-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_58936293e76f4b18a81f15c112767f12.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/POOL " target="_blank">POOL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q2.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2022/HL-EM-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner Global Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/SIVB " target="_blank">SIVB </a><a href="https://roic.ai/company/ADYEY" target="_blank">ADYEY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Companies-Quarterly-Report-2Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner International Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-International-Small-Companies-Quarterly-Report-2Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/62eb088133bf8171c47f3445/1659570306154/2022.Q2+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/EVBG " target="_blank">EVBG </a><a href="https://roic.ai/company/XPEL " target="_blank">XPEL </a><a href="https://roic.ai/company/NGMS" target="_blank">NGMS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=9707b2a5f8">Argosy Investors</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/DFH " target="_blank">DFH </a><a href="https://roic.ai/company/AMOT " target="_blank">AMOT </a><a href="https://roic.ai/company/CURV " target="_blank">CURV </a><a href="https://roic.ai/company/FTV " target="_blank">FTV </a><a href="https://roic.ai/company/VNT " target="_blank">VNT </a><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/WBD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-06.30.22.pdf">Baron Partners Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-06.30.22.pdf">Baron Small Cap Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/SPT" target="_blank">SPT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/posts/artko-capital-2q-2022-partner-letter-wQrTlD7W">Artko Capital</a></td><td width="13%">8/16/2022</td><td width="39%"><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/PBPB " target="_blank">PBPB </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/HQI" target="_blank">HQI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/62e1b3a1a3675577a5c65806/1658958753933/2Q22+letter+final.pdf">Long Cast Advisers </a></td><td width="13%">8/16/2022</td><td width="39%"><a href="https://roic.ai/company/CCRN " target="_blank">CCRN </a><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/QRHC " target="_blank">QRHC </a><a href="https://roic.ai/company/DAIO " target="_blank">DAIO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/07/2022Q2-Commentary.pdf">Palm Capital</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/62f449c44ff2ac1a47ebbec8/1660176836873/Bonsai+Partners+Fund+Q2+2022+Investor+Letter+Final+For+Distribution.pdf">Bonsai Partners</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/RDBBF " target="_blank">RDBBF </a><a href="https://roic.ai/company/XPEL" target="_blank">XPEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/insider-buying-and-buybacks-at-hqi?utm_source=substack&utm_medium=email">Mindset Value Fund</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/MRMD " target="_blank">MRMD </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/NNI " target="_blank">NNI </a><a href="https://roic.ai/company/CNRFF" target="_blank">CNRFF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rvcapital.ch/post/first-half-2022-letter-to-co-investors-in-business-owner?utm_campaign=6b0317a6-2ab9-4e29-9937-076fe1218d6b&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/CACC " target="_blank">CACC </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/CVNA" target="_blank">CVNA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.gwinvestors.com/wp-content/uploads/2022.08.24-Q2-Letter-v3.pdf">GreenWood Investors</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/CTTPY " target="_blank">CTTPY </a><a href="https://roic.ai/company/KOD " target="_blank">KOD </a><a href="https://roic.ai/company/MEIP " target="_blank">MEIP </a><a href="https://roic.ai/company/LTRPA " target="_blank">LTRPA </a><a href="https://roic.ai/company/RH" target="_blank">RH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.riveroakcapital.se/docs/2022H1-ShareholderLetter-inclSinchComment-RiverOakCapitalAB.pdf">River Oak Capital</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/QTGPF " target="_blank">QTGPF </a><a href="https://roic.ai/company/SINCH.ST " target="_blank">SINCH.ST </a><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/APFDX-APDDX-APHDX-QCommentary-2Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/MAREL.AS " target="_blank">MAREL.AS </a><a href="https://roic.ai/company/VEEV " target="_blank">VEEV </a><a href="https://roic.ai/company/ON" target="_blank">ON</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTKX-APDKX-APHKX-QCommentary-2Q22-vR.pdf">Artisan International Value Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTMX-APDMX-APHMX-QCommentary-2Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/VEEV " target="_blank">VEEV </a><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/RYAN " target="_blank">RYAN </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTSX-APDSX-APHSX-QCommentary-2Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/NVST " target="_blank">NVST </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/JBT " target="_blank">JBT </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/SPT " target="_blank">SPT </a><a href="https://roic.ai/company/DV" target="_blank">DV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTLX-APDLX-APHLX-QCommentary-2Q22-vR.pdf">Artisan Value Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/BAC " target="_blank">BAC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://goodhavenfunds.com/media/GOODX%202022%20Semi-Annual%20Report.pdf">GoodHaven Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ad6aa59-a7ab-2ada-d10c-d6a911285822/Steel_City_Capital_2Q_22_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/TRUP " target="_blank">TRUP </a><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/SCI " target="_blank">SCI </a><a href="https://roic.ai/company/ETRN " target="_blank">ETRN </a><a href="https://roic.ai/company/UNTC " target="_blank">UNTC </a><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/630ae597b0970b461c0bb3a1/1661658519729/Greenhaven+Road+%282022+Q2%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">8/31/2022</td><td width="39%"><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">1st Quarter 2022</span>
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
</thead>
<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/04/STJIC-Adviser-Letter-2022-Q1.pdf">St. James Investment Company </a></td><td width="13%">4/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/04/QUARTERLY-REPORT-March-2022-Public.pdf">East72 Holdings</a></td><td width="13%">4/07/2022</td><td width="39%"><a href="https://roic.ai/company/VWAGY" target="_blank">VWAGY </a><a href="https://roic.ai/company/AU1.AX" target="_blank">AU1.AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/dopisy-akcionarum/war">Vltava Fund</a></td><td width="13%">4/08/2022</td><td width="39%"><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/CE " target="_blank">CE </a><a href="https://roic.ai/company/KLAC" target="_blank">KLAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/624a258b6c76b76db54c3f1f/1649026443456/Q12022.pdf">Comus Investments</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_a39d94d07f5a4ff8a1deec3550b06e6c.pdf">Palm Valley Capital Fund</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/HTLD " target="_blank">HTLD </a><a href="https://roic.ai/company/PLPC " target="_blank">PLPC </a><a href="https://roic.ai/company/MLR " target="_blank">MLR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/q1-2022-letter/">Moon Capital</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/MLNK " target="_blank">MLNK </a><a href="https://roic.ai/company/LGIH " target="_blank">LGIH </a><a href="https://roic.ai/company/GRBK" target="_blank">GRBK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/6151d62c-8cdf-d92d-0813-b9836d243d33/March_2022_Investor_Letter_What_if_a_Recession_is_the_Curevfin.pdf">Richie Capital Group</a></td><td width="13%">4/11/2022</td><td width="39%"><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/NXST " target="_blank">NXST </a><a href="https://roic.ai/company/SEDG " target="_blank">SEDG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_3ab5b8a4581b46ff8e8add6ab6705cc9.pdf">Merion Road Capital</a></td><td width="13%">4/11/2022</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/PTON " target="_blank">PTON </a><a href="https://roic.ai/company/SPWH" target="_blank">SPWH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/e1858d66-b8a2-4b96-71df-a603ceb99dc3/First_Quarter_2022_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CTAS " target="_blank">CTAS </a><a href="https://roic.ai/company/SMCYY " target="_blank">SMCYY </a><a href="https://roic.ai/company/HOCPY " target="_blank">HOCPY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CTAS " target="_blank">CTAS </a><a href="https://roic.ai/company/SMCYY " target="_blank">SMCYY </a><a href="https://roic.ai/company/HOCPY " target="_blank">HOCPY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_9aeda574e86d4f54b0b574ce3caa252a.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/625756132bad9d6fb7b93d3a/1649890835942/Q1+2022+-+Investor+Letter+-+4-12.pdf">Worm Capital</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220331.pdf">FMI All Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CSL " target="_blank">CSL </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220331.pdf">FMI International Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/SDXAY " target="_blank">SDXAY </a><a href="https://roic.ai/company/GRG.L" target="_blank">GRG.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220331.pdf">FMI Large Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CSL " target="_blank">CSL </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220331.pdf">FMI Small Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/SKX " target="_blank">SKX </a><a href="https://roic.ai/company/NVT " target="_blank">NVT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/EOG " target="_blank">EOG </a><a href="https://roic.ai/company/ADM " target="_blank">ADM </a><a href="https://roic.ai/company/NUE" target="_blank">NUE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/THO" target="_blank">THO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/NXST " target="_blank">NXST </a><a href="https://roic.ai/company/ABC " target="_blank">ABC </a><a href="https://roic.ai/company/PPG " target="_blank">PPG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/RDN " target="_blank">RDN </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/COLD " target="_blank">COLD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6253f41981bad02de3f2175a/1649669145713/2022+Q1.pdf">Blue Tower Asset Management</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/04/1Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=2249">Miller/Howard Investments</a></td><td width="13%">4/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/04/Q1-2022-letter.pdf">Distillate Capital</a></td><td width="13%">4/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Core-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Micro-Cap-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/KRNT " target="_blank">KRNT </a><a href="https://roic.ai/company/PRPL " target="_blank">PRPL </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/HLLY " target="_blank">HLLY </a><a href="https://roic.ai/company/SLP" target="_blank">SLP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Value-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/KRNT " target="_blank">KRNT </a><a href="https://roic.ai/company/MEDP " target="_blank">MEDP </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/HQY " target="_blank">HQY </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/EEFT " target="_blank">EEFT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Value-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Ultra-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2022/04/2022-03-March-Investor-Update.pdf">LRT Capital</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/PSA " target="_blank">PSA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2022.pdf">L1 Capital Long Short Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/04/L1-Capital-International-March-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2022/">Oakmark Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/EFX " target="_blank">EFX </a><a href="https://roic.ai/company/GPN " target="_blank">GPN </a><a href="https://roic.ai/company/PINS " target="_blank">PINS </a><a href="https://roic.ai/company/PHM " target="_blank">PHM </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2022/">Oakmark Global Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/BAYRY " target="_blank">BAYRY </a><a href="https://roic.ai/company/GLNCY " target="_blank">GLNCY </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/GM " target="_blank">GM </a><a href="https://roic.ai/company/CS" target="_blank">CS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-quarter-2022/">Oakmark Global Select Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-first-quarter-2022/">Oakmark International Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2022/">Oakmark Select Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-first-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_2b058680f1c7435ea64a4f5bcfea20bb.pdf">Old West Capital Management</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/BG" target="_blank">BG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/625ac340cf3dfa42945771c0/1650115393148/Laughing+Water+Capital+Q1%2722.pdf">Laughing Water Capital</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/TACT " target="_blank">TACT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/04/HCM-Q1-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/NOTV " target="_blank">NOTV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/GRI.L" target="_blank">GRI.L</a><a href="https://roic.ai/company/DHI " target="_blank">DHI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/625d4cf5eef5817d8a32bae1/1650281718164/Upslope+-+2022Q1+Letter.pdf">Upslope Capital Management</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/BWXT " target="_blank">BWXT </a><a href="https://roic.ai/company/NSKFF " target="_blank">NSKFF </a><a href="https://roic.ai/company/CMGMF " target="_blank">CMGMF </a><a href="https://roic.ai/company/SLGN" target="_blank">SLGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/04/Akre-Focus-Fund-Quarterly-Commentary-2022-Q1.pdf#page=1">Akre Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/PLAN " target="_blank">PLAN </a><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/NEOG " target="_blank">NEOG </a><a href="https://roic.ai/company/CFLT " target="_blank">CFLT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/HQY " target="_blank">HQY </a><a href="https://roic.ai/company/CHX " target="_blank">CHX </a><a href="https://roic.ai/company/PDCE " target="_blank">PDCE </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/CRYX " target="_blank">CRYX </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/CRWD " target="_blank">CRWD </a><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/AMD " target="_blank">AMD </a><a href="https://roic.ai/company/NTRA" target="_blank">NTRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/APR " target="_blank">APR </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/SWIM" target="_blank">SWIM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/1q2022-commentary">Whitebrook Capital</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/q1-2022-letter-be-greedy-when-everyone-else-is-fearful">Rowan Street Capital</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/DOCU " target="_blank">DOCU </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-03.31.22.pdf">Baron Health Care Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/ANTM " target="_blank">ANTM </a><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/RHHBY" target="_blank">RHHBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-03.31.22.pdf">Baron Real Estate Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/MTN " target="_blank">MTN </a><a href="https://roic.ai/company/PSA " target="_blank">PSA </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/GDS " target="_blank">GDS </a><a href="https://roic.ai/company/LVS " target="_blank">LVS </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2022/04/PzenaNewsletter-Commentary-1Q22.pdf">Pzena Investment Management</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202112/Commentary-Small-Cap-Fund-2021-12-31.pdf?c=637860577560000000">Diamond Hill Small Cap Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/RHP " target="_blank">RHP </a><a href="https://roic.ai/company/ERII " target="_blank">ERII </a><a href="https://roic.ai/company/JOUT " target="_blank">JOUT </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-03.31.22.pdf">Baron Discovery Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/ACC " target="_blank">ACC </a><a href="https://roic.ai/company/AXON " target="_blank">AXON </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/first-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/GOOGL " target="_blank">GOOGL </a><a href="https://roic.ai/company/CMG " target="_blank">CMG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q1NP.pdf">Hoisington Investment Management</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1eWlvQ6bBGVUrfdlMLRdnD2SXg_k4BxHc/view">Greenlight Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/BHF " target="_blank">BHF </a><a href="https://roic.ai/company/INSW " target="_blank">INSW </a><a href="https://roic.ai/company/RYAAY " target="_blank">RYAAY </a><a href="https://roic.ai/company/SNX " target="_blank">SNX </a><a href="https://roic.ai/company/SWN " target="_blank">SWN </a><a href="https://roic.ai/company/WFRD" target="_blank">WFRD</a><a href="https://roic.ai/company/WFRD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/626419bdf119917020e60231/1650727357479/NZS+Capital+Q1+2022+Letter.pdf">NZS Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/1q22_scv_commentary.pdf">Bernzott Capital Advisors</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/HALO " target="_blank">HALO </a><a href="https://roic.ai/company/HCI " target="_blank">HCI </a><a href="https://roic.ai/company/MP " target="_blank">MP </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/VNOM " target="_blank">VNOM </a><a href="https://roic.ai/company/CMP" target="_blank">CMP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202203.pdf">Bronte Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/HLF" target="_blank">HLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/letters">Arch Capital Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/WIX" target="_blank">WIX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://okeefestevens.com/wp-content/uploads/2022/04/Q1-2022-Letter.pdf">O'Keefe Stevens</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/EAF " target="_blank">EAF </a><a href="https://roic.ai/company/NMRK " target="_blank">NMRK </a><a href="https://roic.ai/company/INTC " target="_blank">INTC </a><a href="https://roic.ai/company/DFIN " target="_blank">DFIN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.nelsoncap.com/2022/04/19/a-shift-to-value/">Nelson Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/1q/ARTKX-APDKX-APHKX-QCommentary-1Q22-vR.pdf">Artisan International Value Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/INGVF " target="_blank">INGVF </a><a href="https://roic.ai/company/DANOY " target="_blank">DANOY </a><a href="https://roic.ai/company/ACGL " target="_blank">ACGL </a><a href="https://roic.ai/company/ST " target="_blank">ST </a><a href="https://roic.ai/company/GRMN " target="_blank">GRMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/1q/ARTMX-APDMX-APHMX-QCommentary-1Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/WMS " target="_blank">WMS </a><a href="https://roic.ai/company/ZI " target="_blank">ZI </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/NVST " target="_blank">NVST </a><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/a-plethora-of-new-macro-trends/?nowprocket=1">Crestcat Capital</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q1.pdf">Alphyn Capital Management</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/NPSNY " target="_blank">NPSNY </a><a href="https://roic.ai/company/W" target="_blank">W</a><a href="https://roic.ai/company/W" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/62631820b0120447ae1bfd0d/1650661409058/Q1+2022+Letter.pdf">Curreen Capital</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/625f19fcdfe4601f6c548eac/1650399740156/GCAM+Q1+2022+letter.pdf">Giverny Capital Asset Management</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/FIVE " target="_blank">FIVE </a><a href="https://roic.ai/company/ERFSF " target="_blank">ERFSF </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/IBP " target="_blank">IBP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q1-2022-letter">Andvari Associates</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/TOITF" target="_blank">TOITF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/626308527b9928476cd4c91a/1650657362518/Nordstern+Capital+1Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/THQQF " target="_blank">THQQF </a><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/EVVTY " target="_blank">EVVTY </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/ARCH " target="_blank">ARCH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1651366770635">Miller Income Strategy</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/VALE " target="_blank">VALE </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/HRB " target="_blank">HRB </a><a href="https://roic.ai/company/SDIG " target="_blank">SDIG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1651366550692">Miller Opportunity Trust</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/OVV " target="_blank">OVV </a><a href="https://roic.ai/company/FANG " target="_blank">FANG </a><a href="https://roic.ai/company/CLF " target="_blank">CLF </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/HLF" target="_blank">HLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637868432950000000">Weitz Hickory Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/AZO" target="_blank">AZO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637868432950000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637868432950000000">Weitz Partners Value Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637868432950000000">Weitz Value Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/FB" target="_blank">FB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2022.pdf">Polen Capital - Global Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/ALGN" target="_blank">ALGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2022.pdf">Polen Capital - International Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2022/HL-EM-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Global Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/ROK " target="_blank">ROK </a><a href="https://roic.ai/company/SBGSY " target="_blank">SBGSY </a><a href="https://roic.ai/company/DE " target="_blank">DE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Cos-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/TCHBF " target="_blank">TCHBF </a><a href="https://roic.ai/company/KWS.L" target="_blank">KWS.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner International Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-Intl-Small-Cos-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/04/Epoch-Quarterly-Newsletter_April-2022.pdf">Epoch Investment Partners</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-03.31.22.pdf">Baron Asset Fund</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/EPAM " target="_blank">EPAM </a><a href="https://roic.ai/company/TFX " target="_blank">TFX </a><a href="https://roic.ai/company/CSGP " target="_blank">CSGP </a><a href="https://roic.ai/company/FICO" target="_blank">FICO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/626fcd2edf6cb02eb0e8d2e3/1651494191083/2022.Q1+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/NGMS " target="_blank">NGMS </a><a href="https://roic.ai/company/DSKE " target="_blank">DSKE </a><a href="https://roic.ai/company/XPEL" target="_blank">XPEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-03.31.22.pdf">Baron Small Cap Fund</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/PGNY " target="_blank">PGNY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2022/04/Greystone-Capital-Q1-2022-Letter.pdf">Greystone Capital Management</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/62701052a50f890241d6532e/1651511379503/1Q22+letter.pdf">Long Cast Advisers </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/DAIO" target="_blank">DAIO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/626fe5c78d02785e0c2d9450/1651500487422/Q1%2722+letter.pdf">1 Main Capital Partners</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/FIGS" target="_blank">FIGS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_54611dd9142d4b99bd5919ac79a27e36.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/AYI " target="_blank">AYI </a><a href="https://roic.ai/company/MMS " target="_blank">MMS </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/6263e168f5c19b0ca3ab9afd/1650712936941/Greenhaven+Road+%282022+Q1%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/TDOC " target="_blank">TDOC </a><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-1Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/TSM " target="_blank">TSM </a><a href="https://roic.ai/company/WZZAF " target="_blank">WZZAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-1Q2022.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/BMBL " target="_blank">BMBL </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/HLNE " target="_blank">HLNE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6271768f1b27f83c5c8e5b7c/1651603089351/Q1+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/QUCT " target="_blank">QUCT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q1-2022-Roundtable-Discussion-for-Website_FINAL.pdf">Horizon Kinetics</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-03.31.22.pdf">Baron FinTech Fund</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/EFX " target="_blank">EFX </a><a href="https://roic.ai/company/GLOB " target="_blank">GLOB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q1.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202022%20Final.pdf">Tweedy Browne</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/BZZUY " target="_blank">BZZUY </a><a href="https://roic.ai/company/KOYJF " target="_blank">KOYJF </a><a href="https://roic.ai/company/THO " target="_blank">THO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/36dbc4dd-55c3-16ab-a279-58bcc8775251/Steel_City_Capital_1Q_22_Partner_Letter.pdf">Steel City Capital</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/SCI " target="_blank">SCI </a><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/LILA " target="_blank">LILA </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/APM" target="_blank">APM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/Q1%202022%20Investor%20Letter%20-%20Final.pdf">Praetorian Capital </a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-commentary-2022-03.pdf?sfvrsn=b42909d_4">FPA Crescent Fund</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-qr-small-cap-value-fund-commentary-2022-q1.pdf?sfvrsn=8a4b909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2022-Q1-Aikya-letter.pdf">Aikya Funds</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1WM3rALdle5NhFgpyZF2jcNIXWe73VkYp/view">Tidefall Capital Management</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20220331.pdf">Rondure Global</a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlightcapital.com/saltlight-snn-worldwide-flexible-fund-investor-letter-1q22/">Saltlight Capital </a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/6282f5aca591b577f04a2bef/1652749741615/Bonsai+Partners+Fund+Q1+2022+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/ESTC" target="_blank">ESTC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://4043042.fs1.hubspotusercontent-na1.net/hubfs/4043042/Content%20Offers/2022.Q1%20Commentary/2022.Q1%20GR%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/_files/ugd/3b0d6d_28e86645644f4099b5b411a3025eaa0e.pdf">Saga Partners</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/RDFN " target="_blank">RDFN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1TAGBJGoJzWm4JG4ubsb4vXyV72RBenz3/view">Andaz Private Investments</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/05/DKAM-ROE-Reporter-April-2022-Final-.pdf">Donville Kent Asset Management</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/EHMEF " target="_blank">EHMEF </a><a href="https://roic.ai/company/GIVX.TO " target="_blank">GIVX.TO </a><a href="https://roic.ai/company/VHIBF " target="_blank">VHIBF </a><a href="https://roic.ai/company/CTSDF" target="_blank">CTSDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2022-Q1.pdf">Hayden Capital</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-q1.pdf?sfvrsn=7b4d909d_6">FPA U.S. Core Equity Fund</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/627182cef9390517a0bdfe5f/1651606222430/Maran+Partners+Fund+LP+2022+1Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/1Q22%20-%20FV.html">Bireme Capital</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/CGEAF " target="_blank">CGEAF </a><a href="https://roic.ai/company/FB" target="_blank">FB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/627419a4d25dbf262c894fbd/1651775908325/2022.Q1+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/CTTZF " target="_blank">CTTZF </a><a href="https://roic.ai/company/SMNEY " target="_blank">SMNEY </a><a href="https://roic.ai/company/LUCRF " target="_blank">LUCRF </a><a href="https://roic.ai/company/IVPAF " target="_blank">IVPAF </a><a href="https://roic.ai/company/AOIFF" target="_blank">AOIFF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=2cf5241e3e">Argosy Investors</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/VZIO " target="_blank">VZIO </a><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/IS" target="_blank">IS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-1q-2022-partner-letter-wl2T621Y">Artko Capital</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/GOED WS " target="_blank">GOED WS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">4th Quarter 2021</span>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/01/QUARTERLY-REPORT-December-2021-Web.pdf">East72 Holdings</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/ARKK" target="_blank">ARKK </a><a href="https://roic.ai/company/YBRHF" target="_blank">YBRHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_68_en.pdf">Vltava Fund</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/SBRCY " target="_blank">SBRCY </a><a href="https://roic.ai/company/BMWYY " target="_blank">BMWYY </a><a href="https://roic.ai/company/LH" target="_blank">LH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/61d3a86180af5560d2fc9f5e/1641261154076/Q42021.pdf">Comus Investments</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/01/STJIC-Adviser-Letter-2021-Q4.pdf">St. James Investment Company </a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_66728216a304405b84fd411d2f30a550.pdf">Palm Valley Capital Fund</a></td><td width="13%">1/09/2022</td><td width="39%"><a href="https://roic.ai/company/AGI " target="_blank">AGI </a><a href="https://roic.ai/company/DRQ " target="_blank">DRQ </a><a href="https://roic.ai/company/CRD-A " target="_blank">CRD-A </a><a href="https://roic.ai/company/WHGLY" target="_blank">WHGLY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/ec7645_e919e84dd8a844a18b04f9f24876b2fb.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">1/12/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20211231.pdf">FMI All Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20211231.pdf">FMI International Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20211231.pdf">FMI Large Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20211231.pdf">FMI Small Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/01/Akre-Focus-Fund-Quarterly-Commentary-2021-Q4.pdf#page=1">Akre Focus Fund</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">1/14/2022</td><td width="39%"><a href="https://roic.ai/company/TFX" target="_blank">TFX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">1/14/2022</td><td width="39%"><a href="https://roic.ai/company/TFX" target="_blank">TFX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q4-2021-letter">Andvari Associates</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/MA " target="_blank">MA </a><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/NOVT" target="_blank">NOVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-12.31.21.pdf">Baron Asset Fund</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-12.31.21.pdf">Baron Discovery Fund</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/BYD " target="_blank">BYD </a><a href="https://roic.ai/company/ENFN " target="_blank">ENFN </a><a href="https://roic.ai/company/BASE" target="_blank">BASE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_ff750f7afc8b4601a14ea1571b376bfc.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/TSCO " target="_blank">TSCO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-12.31.21.pdf">Baron Real Estate Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-12.31.21.pdf">Baron Health Care Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/AZN " target="_blank">AZN </a><a href="https://roic.ai/company/MCK " target="_blank">MCK </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/61df939be19b8f24cc253228/1642042267535/Q4+2021+Letter.pdf">Curreen Capital</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/AMD " target="_blank">AMD </a><a href="https://roic.ai/company/VCRA " target="_blank">VCRA </a><a href="https://roic.ai/company/BILL " target="_blank">BILL </a><a href="https://roic.ai/company/TASK " target="_blank">TASK </a><a href="https://roic.ai/company/BSY" target="_blank">BSY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/UPST " target="_blank">UPST </a><a href="https://roic.ai/company/MQ" target="_blank">MQ</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/SBNY " target="_blank">SBNY </a><a href="https://roic.ai/company/MEG " target="_blank">MEG </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/EVBG" target="_blank">EVBG</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q4.pdf">Alphyn Capital Management</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/OACB " target="_blank">OACB </a><a href="https://roic.ai/company/WANSF " target="_blank">WANSF </a><a href="https://roic.ai/company/W" target="_blank">W</a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2021/">Oakmark Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/WTW " target="_blank">WTW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2021/">Oakmark Global Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2021/">Oakmark Global Select Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-fourth-quarter-2021/">Oakmark International Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2021/">Oakmark Select Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/020149e8628527512acbfb43b/files/031c3cdc-d04b-09f3-5081-900e3c1555bd/Tollymore_letters_to_partners_Dec_2021.pdf">Tollymore Investment Partners</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/61e3d61d963af533b3d8f01c/1642321437303/2021+Q4.pdf">Blue Tower Asset Management</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/PPG" target="_blank">PPG </a><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/DLTR" target="_blank">DLTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/CCBG " target="_blank">CCBG </a><a href="https://roic.ai/company/PRGO " target="_blank">PRGO </a><a href="https://roic.ai/company/BRY " target="_blank">BRY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/TRS " target="_blank">TRS </a><a href="https://roic.ai/company/KN " target="_blank">KN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/CVS" target="_blank">CVS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/LOW " target="_blank">LOW </a><a href="https://roic.ai/company/BDX " target="_blank">BDX </a><a href="https://roic.ai/company/NVS " target="_blank">NVS </a><a href="https://roic.ai/company/FISV " target="_blank">FISV </a><a href="https://roic.ai/company/V" target="_blank">V </a><a href="https://roic.ai/company/BKI " target="_blank">BKI </a><a href="https://roic.ai/company/PH" target="_blank">PH</a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BKI " target="_blank">BKI </a><a href="https://roic.ai/company/MKSI " target="_blank">MKSI </a><a href="https://roic.ai/company/DLTR" target="_blank">DLTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/NEWR " target="_blank">NEWR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblecapital.com/wp-content/uploads/2022/01/ECM-Quarterly-Letter-4Q21.pdf">Ensemble Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BL " target="_blank">BL </a><a href="https://roic.ai/company/COST " target="_blank">COST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/61ddf8db43fdcd2d6b033b4b/1641937116559/NZS+Capital+Q4+2021+Letter.pdf">NZS Capital</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3117">Miller/Howard Investments</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/INV " target="_blank">INV </a><a href="https://roic.ai/company/CTT " target="_blank">CTT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BATRA " target="_blank">BATRA </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/FRPH " target="_blank">FRPH </a><a href="https://roic.ai/company/FPH " target="_blank">FPH </a><a href="https://roic.ai/company/IVT" target="_blank">IVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/01/Q4-2021-Letter.pdf">Distillate Capital</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_d59e5529852440a9a9ce67ff4be178ba.pdf">Old West Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/PINS " target="_blank">PINS </a><a href="https://roic.ai/company/TWTR " target="_blank">TWTR </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/SQ " target="_blank">SQ </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/SOFI " target="_blank">SOFI </a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_4Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/61e88024ea403840e2631912/1642627109448/Upslope+-+2021Q4+Letter.pdf">Upslope Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/MKTX " target="_blank">MKTX </a><a href="https://roic.ai/company/CASY" target="_blank">CASY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/01/Alluvial-Capital-Management-Q4-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/LICT " target="_blank">LICT </a><a href="https://roic.ai/company/CRAWA " target="_blank">CRAWA </a><a href="https://roic.ai/company/GTX " target="_blank">GTX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/TIMB " target="_blank">TIM.WSE</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/4q21_scv_commentary__final_.pdf">Bernzott Capital Advisors</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/WSC " target="_blank">WSC </a><a href="https://roic.ai/company/HI " target="_blank">HI </a><a href="https://roic.ai/company/UPLD " target="_blank">UPLD </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/JR" target="_blank">JRVR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/01/4Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/CPRI " target="_blank">CPRI </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/EVBG " target="_blank">EVBG </a><a href="https://roic.ai/company/GENI " target="_blank">GENI </a><a href="https://roic.ai/company/HSKA" target="_blank">HSKA</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/61e1a8df7c45833bf347b6e2/1642178783496/2021.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/GSL " target="_blank">GSL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2021.pdf">L1 Capital Long Short Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/01/L1-International-Fund-December-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/CRH" target="_blank">CRH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-12.31.21_1.pdf">Baron Small Cap Fund</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/SG" target="_blank">SG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-12.31.21.pdf">Baron Growth Fund</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/MIR " target="_blank">MIR </a><a href="https://roic.ai/company/SG " target="_blank">SG </a><a href="https://roic.ai/company/WRBY" target="_blank">WRBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-2021-year-end-letter">Rowan Street Capital</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/DOCU " target="_blank">DOCU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2021Q4NP.pdf">Hoisington Investment Management</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/4q2021-commentary">Whitebrook Capital</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_00e46e69dc984559a5f36c6ac0019842.pdf">Merion Road Capital</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/ATVI " target="_blank">ATVI </a><a href="https://roic.ai/company/LEAT " target="_blank">LEAT </a><a href="https://roic.ai/company/LNSR " target="_blank">LNSR </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/61ec866c184e8c17755464c9/1642890860567/Nordstern+Capital+4Q2021+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/STNE" target="_blank">STNE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DOCU" target="_blank">DOCU</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2021.pdf">Polen Capital - Global Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/ADSK " target="_blank">ADSK </a><a href="https://roic.ai/company/V" target="_blank">V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2021.pdf">Polen Capital - International Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTKX-APDKX-APHKX-QCommentary-4Q21-vR.pdf">Artisan International Value Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/WTW " target="_blank">WTW </a><a href="https://roic.ai/company/ASBFY" target="_blank">ASBFY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTMX-APDMX-APHMX-QCommentary-4Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTSX-APDSX-APHSX-QCommentary-4Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/IRTC " target="_blank">IRTC </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/WK " target="_blank">WK </a><a href="https://roic.ai/company/BIGC" target="_blank">BIGC</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTLX-APDLX-APHLX-QCommentary-4Q21-vR.pdf">Artisan Value Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/DIS" target="_blank">DIS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2022/01/PzenaNewsletter-Commentary-4Q21.pdf">Pzena Investment Management</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/61eb18135e28e93a1b989a12/1642797076632/GCAM+2021+Q4+letter+.pdf">Giverny Capital Asset Management</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202112/Commentary-Small-Cap-Fund-2021-12-31.pdf?c=637787374490000000">Diamond Hill Small Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/RHP " target="_blank">RHP </a><a href="https://roic.ai/company/ERII " target="_blank">ERII </a><a href="https://roic.ai/company/JOUT " target="_blank">JOUT </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/deep-value-strategy-4q21-letter/">Miller Deep Value</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/ENDP " target="_blank">ENDP </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/CNDT " target="_blank">CNDT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1643292697477">Miller Income Strategy</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/APO " target="_blank">APO </a><a href="https://roic.ai/company/SCU " target="_blank">SCU </a><a href="https://roic.ai/company/SBRCY " target="_blank">SBRCY </a><a href="https://roic.ai/company/OMF" target="_blank">OMF</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/opportunity-equity-4q21-letter/">Miller Opportunity Equity</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/TMHC " target="_blank">TMHC </a><a href="https://roic.ai/company/MTTR " target="_blank">MTTR </a><a href="https://roic.ai/company/FANG " target="_blank">FANG </a><a href="https://roic.ai/company/SFIX " target="_blank">SFIX </a><a href="https://roic.ai/company/SPLK " target="_blank">SPLK </a><a href="https://roic.ai/company/NCLH" target="_blank">NCLH</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/2021-Annual-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/NOTV " target="_blank">NOTV </a><a href="https://roic.ai/company/UFPT " target="_blank">UFPT </a><a href="https://roic.ai/company/UTMD" target="_blank">UTMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_01_18.pdf">Myrmikan Research</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637787358840000000">Weitz Hickory Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637787358840000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637787358840000000">Weitz Partners Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637787358840000000">Weitz Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1Nb2a7A-4S588IJtN5UVTb2Q_urhCnaNX/view">Greenlight Capital</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/BHF " target="_blank">BHF </a><a href="https://roic.ai/company/TECK " target="_blank">TECK </a><a href="https://roic.ai/company/DNMR " target="_blank">DNMR </a><a href="https://roic.ai/company/GPN " target="_blank">GPN </a><a href="https://roic.ai/company/CPRI " target="_blank">CPRI </a><a href="https://roic.ai/company/GLPG " target="_blank">GLPG </a><a href="https://roic.ai/company/ODP" target="_blank">ODP</a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/AMG " target="_blank">AMG </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/BIIB " target="_blank">BIIB </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/H " target="_blank">H </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/WMB " target="_blank">WMB </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/BIIB " target="_blank">BIIB </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CFRUY " target="_blank">CFRUY </a><a href="https://roic.ai/company/DPZ " target="_blank">DPZ </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CNX " target="_blank">CNX </a><a href="https://roic.ai/company/RLGY " target="_blank">RLGY </a><a href="https://roic.ai/company/MAT " target="_blank">MAT </a><a href="https://roic.ai/company/RNR " target="_blank">RNR </a><a href="https://roic.ai/company/IDRSF " target="_blank">IDRSF </a><a href="https://roic.ai/company/LNXSF " target="_blank">LNXSF </a><a href="https://roic.ai/company/KODK" target="_blank">KODK</a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202112.pdf">Bronte Capital</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/61e5e320b5857c262626e510/1642455841875/4Q21+letter.pdf">Long Cast Advisers </a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/AIMFF " target="_blank">AIMFF </a><a href="https://roic.ai/company/SNES " target="_blank">SNES </a><a href="https://roic.ai/company/SOTK " target="_blank">SOTK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/HL-EM-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CCHGY " target="_blank">CCHGY </a><a href="https://roic.ai/company/MGLUY " target="_blank">MGLUY </a><a href="https://roic.ai/company/XP " target="_blank">XP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/HL-Global-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Global Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/MELI" target="_blank">MELI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/HL-Global-Small-Cos-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/SLP " target="_blank">SLP </a><a href="https://roic.ai/company/ALTR " target="_blank">ALTR </a><a href="https://roic.ai/company/NEMTF " target="_blank">NEMTF </a><a href="https://roic.ai/company/ABMD" target="_blank">ABMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IADR/2021/HL-Intl-Equity-ADR-Quarterly-Report-4Q21.pdf">Harding Loevner International Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/HL-Intl-Small-Cos-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/MHSDF" target="_blank">MHSDF</a><a href="https://roic.ai/company/LZRFY " target="_blank">LZRFY </a><a href="https://roic.ai/company/VACNY " target="_blank">VACNY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2022/01/2021-12-December-Investor-Update.pdf">LRT Capital</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/WSO" target="_blank">WSO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_05e73048c3af46bfa6ed0f81e0f43a29.pdf">Arch Capital Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/SFM " target="_blank">SFM </a><a href="https://roic.ai/company/NNI " target="_blank">NNI </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/HRBR" target="_blank">HRBR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/825e7129-c367-9868-11ed-115b47c755b7/December_2021_Investor_Letter_The_Hidden_Taxvfin.pdf">Richie Capital Group</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/FREE " target="_blank">FREE </a><a href="https://roic.ai/company/AVGO " target="_blank">AVGO </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/ABT " target="_blank">ABT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/2022/01/15235630/Fundsmith-Equity-Funds-Q4-2021-Investor-Letter.pdf">Fundsmith Equity Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/MORN " target="_blank">MORN </a><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/OLLI " target="_blank">OLLI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/TRNS " target="_blank">TRNS </a><a href="https://roic.ai/company/NPTN " target="_blank">NPTN </a><a href="https://roic.ai/company/CCXI " target="_blank">CCXI </a><a href="https://roic.ai/company/MSGM " target="_blank">MSGM </a><a href="https://roic.ai/company/CSTL " target="_blank">CSTL </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/RDVT " target="_blank">RDVT </a><a href="https://roic.ai/company/BWMN " target="_blank">BWMN </a><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/ASPU " target="_blank">ASPU </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/TCDM " target="_blank">TCDM </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/BOOT " target="_blank">BOOT </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/MEDP " target="_blank">MEDP </a><a href="https://roic.ai/company/FRPT " target="_blank">FRPT </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/HQY" target="_blank">HQY</a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/CCXI " target="_blank">CCXI </a><a href="https://roic.ai/company/NVMI " target="_blank">NVMI </a><a href="https://roic.ai/company/FRPT " target="_blank">FRPT </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/CSTL" target="_blank">CSTL</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20211231.pdf">Rondure Global</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2021Q4.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Amana-Q4-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.turtlecreek.ca/wp-content/uploads/2022/01/Turtle-Creek-Quarterly-Commentary-2021-Q4.pdf">Turtle Creek</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=5ad662b014">Argosy Investors</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/LESL " target="_blank">LESL </a><a href="https://roic.ai/company/AGIL " target="_blank">AGIL </a><a href="https://roic.ai/company/CURV " target="_blank">CURV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://img1.wsimg.com/blobby/go/ee65fbd7-2d89-48b3-83e6-be9864c38c3b/downloads/2022%20Nitor%20Capital%20Management%20Annual%20Letter.pdf?ver=1643209078495">Nitor Capital</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/VST " target="_blank">VST </a><a href="https://roic.ai/company/CF " target="_blank">CF </a><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/61f4601ca0cc3227736bf76f/1643405340863/Greenhaven+Road+%282021+Q4%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/TDOC " target="_blank">TDOC </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/61f8b8cf6faed02fd91ec060/1643690191597/Q4+2021+Alta+Fox+Capital+Quarterly+Letter+-+final.pdf">Alta Fox Capital Management</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/IDT" target="_blank">IDT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/61f9cf7a3d4ef81723c5b357/1643761530528/Q4+2021+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/SODI " target="_blank">SODI </a><a href="https://roic.ai/company/PCHM " target="_blank">PCHM </a><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/WCRS" target="_blank">WCRS</a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/4Q21%20-%20FV.html">Bireme Capital</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/AFRM " target="_blank">AFRM </a><a href="https://roic.ai/company/TME " target="_blank">TME </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/02/HCM-Q4-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/CRNC" target="_blank">CRNC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-4Q2021.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/TME" target="_blank">TME</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary-4Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q4-Aikya-letter.pdf">Aikya Funds</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.firsteagle.com/FE-Global-Value-Team-Annual-Letter-2021_US">First Eagle Global Value</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/02/2021Q4-Commentary.pdf">Palm Capital</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/CRM" target="_blank">CRM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1KWg62-kXpSHzM2CGUzqlIA-6NFEERsOp/view">Andaz Private Investments</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/RKT " target="_blank">RKT </a><a href="https://roic.ai/company/XLNX " target="_blank">XLNX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/post/investor-letter-h2-2021">Saga Partners</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/RDFN" target="_blank">RDFN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/ypwx12sh2oxixmw/2021_CTG_InvestorLetter_III%20%28yr%20end%29.pdf?dl=0">Canterbury Tollgate</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/02/DKAM-ROE-Reporter-January-2022.pdf">Donville Kent Asset Management</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/NGMS " target="_blank">NGMS </a><a href="https://roic.ai/company/GIVX.TO" target="_blank">GIVX.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2022/02/Greystone-Capital-Q4-2021-Letter.pdf">Greystone Capital Management</a></td><td width="13%">2/07/2022</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/ID " target="_blank">ID </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/IDT" target="_blank">IDT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/84ecef49-45e5-424c-1d06-7450ff480952/Fourth_Quarter_2021_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="13%">2/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/62025b581b92b1229ea34236/1644321624479/Q4%2721+letter.pdf">1 Main Capital Partners</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/61f704c1f0e77848cc88879f/1643578562345/Maran+Partners+Fund+LP+2021+4Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/CDRE" target="_blank">CDRE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-12.31.21.pdf">Baron FinTech Fund</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/LPLA " target="_blank">LPLA </a><a href="https://roic.ai/company/EXFY" target="_blank">EXFY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-12.31.21.pdf">Baron Partners Fund</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1ckJEI9udIXZDWQ_jpwjUhnq1iTVWn0YI/view">Tidefall Capital Management</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/FFXDF" target="_blank">FFXDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2021.pdf">Evermore Global Value Fund</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmharbourcapital.com/files/PHC%20Letter%20Q4%202021-FINAL_EN.pdf">Palm Harbour Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/OCINF " target="_blank">OCINF </a><a href="https://roic.ai/company/GEAHF " target="_blank">GEAHF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/62050baea91a235dd67c8baa/1644497838872/Laughing+Water+Capital+YE+2021.pdf">Laughing Water Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/TACT" target="_blank">TACT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/caafeb57-9e30-8af0-e660-6464ae971825/Steel_City_Capital_4Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/GDOT " target="_blank">GDOT </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/SXC" target="_blank">SXC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202021%20Final.pdf">Tweedy Browne</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/VRTX " target="_blank">VRTX </a><a href="https://roic.ai/company/RBSFY " target="_blank">RBSFY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1NjbvXcjfNGinPg7Y3YySMQde4oN8gHjd/view">MPE Capital</a></td><td width="13%">2/11/2022</td><td width="39%"><a href="https://roic.ai/company/SQSP" target="_blank">SQSP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_d8d3433827ac482ea4648323a2e6ecdf.pdf">Emeth Value Capital</a></td><td width="13%">2/12/2022</td><td width="39%"><a href="https://roic.ai/company/BUR" target="_blank">BUR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://srk-capital.com/content_files/2022/02/SRK-Fund-H2-2021-Letter.pdf">SRK Capital</a></td><td width="13%">2/12/2022</td><td width="39%"><a href="https://roic.ai/company/HROW " target="_blank">HROW </a><a href="https://roic.ai/company/TTSH " target="_blank">TTSH </a><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/PYCFF " target="_blank">PYCFF </a><a href="https://roic.ai/company/RTMAF " target="_blank">RTMAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/mindset-value-cannabis-fund-year">Mindset Value Cannabis Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/VRNOF " target="_blank">VRNOF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fs.hubspotusercontent00.net/hubfs/6004402/Quarterly%20Letters/2021/2021%20Q4%20Investor%20Letter%20-%20Final.pdf">Praetorian Capital </a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/LEE " target="_blank">LEE </a><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q4-2021-Quarterly-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-12.31.21.pdf">Baron Opportunity Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/MRTX " target="_blank">MRTX </a><a href="https://roic.ai/company/CTV " target="_blank">CTV </a><a href="https://roic.ai/company/FIGS " target="_blank">FIGS </a><a href="https://roic.ai/company/SHOP" target="_blank">SHOP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SaltLight_Letter_4Q21.pdf">Saltlight Capital </a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q4.pdf?sfvrsn=ec17909d_6">FPA Crescent Fund</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/02/Epoch-Quarterly-Newsletter_January-2022.pdf">Epoch Investment Partners</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lucacap.com/_files/ugd/f50b59_1915e17451f345ce963f4a53ececbb78.pdf">Luca Capital</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q4.pdf">Hayden Capital</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/SE" target="_blank">SE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lyricalam.com/wp-content/uploads/2022/01/LAM-2021-U.S.-Review-letter-1.pdf">Lyrical Asset Management</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2021-annual-partner-letter-wBqTRnab">Artko Capital</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/GAIA " target="_blank">GAIA </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/NTIC " target="_blank">PBPB</a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2022/02/2021-Year-End-Commentary_FINAL.pdf">RGA Investment Advisors</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/SFIX " target="_blank">SFIX </a><a href="https://roic.ai/company/ROKU " target="_blank">ROKU </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/DBX " target="_blank">DBX </a><a href="https://roic.ai/company/TWTR " target="_blank">TWTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2022/02/bumbershoot-holdings-e28094-2022-2-feb-e28094-letter-to-partners-e28094-2021.pdf">Bumbershoot Holdings</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.broyhillasset.com/wp-content/uploads/2022/02/The-Broyhill-Letter-2021.Q4.pdf?ct=t(RSS_EMAIL_CAMPAIGN)&mc_cid=70cf4a1313&mc_eid=67cf7be10e">Broyhill Asset Management</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/CAR " target="_blank">CAR </a><a href="https://roic.ai/company/DLTR " target="_blank">DLTR </a><a href="https://roic.ai/company/MCK " target="_blank">MCK </a><a href="https://roic.ai/company/ABEV " target="_blank">ABEV </a><a href="https://roic.ai/company/BUD " target="_blank">BUD </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wormcapital.com/the-wormhole-source/q4-2021">Worm Capital</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2021-q4.pdf?sfvrsn=601e909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://taovalue.files.wordpress.com/2022/02/taovalue_2021_q4_final.pdf">Tao Value</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_4Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/TSCO " target="_blank">TSCO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Trust Funds</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/REZI " target="_blank">REZI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/621d8a9deabea5384d671d4b/1646103197454/2021+Q4_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/AVYA " target="_blank">AVYA </a><a href="https://roic.ai/company/OLN " target="_blank">OLN </a><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/MT " target="_blank">MT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/4b290b05-2ad7-5453-0d81-972ecbfe0df0/Rhizome_Partners_Q4_2021_Investor_Letter_Final_w_CP.pdf">Rhizome Partners</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/FRP " target="_blank">FRP </a><a href="https://roic.ai/company/HHC " target="_blank">HHC </a><a href="https://roic.ai/company/INDT " target="_blank">INDT </a><a href="https://roic.ai/company/CLPR" target="_blank">CLPR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2022/02/VVP-Annual-Letter-21.12.31.pdf">Vulcan Value Partners</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q4%20Commentary/2021.Q4%20GR%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<div><span style="font-size: large;"><br /></span></div><p></p><span style="font-size: large;">3rd Quarter 2021</span><br /><hr /><div><br /></div><div><br /></div><div>
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
</thead>
<tbody>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2021/10/QUARTERLY-REPORT-September-2021-WEB.pdf">East72 Holdings</a></td><td width="15%">10/08/2021</td><td width="39%">$ANSLY, $APPEF, $BOWX, $FRPH, $MAC, $LLC.AX</td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_67_en.pdf">Vltava Fund</a></td><td width="13%">10/08/2021</td><td width="39%">$WLTW</td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4518141/3rd%20Qtr%20Letter%20to%20Investors.pdf?__hstc=85836102.23c8f3e82a968957555abbebcad8e401.1633718563683.1633718563683.1633718563683.1&__hssc=85836102.1.1633718563684&__hsfp=2220563331&hsCtaTracking=f20d68ce-ba35-4ab5-8a9f-28c064d8d62e%7C38129298-76e6-4b80-827d-347d188cad6d">Massif Capital</a></td><td width="13%">10/08/2021</td><td width="39%">$SBLK</td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/10/HCM-Q3-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">10/08/2021</td><td width="39%">$SPSC, $FICO, $TRNS</td></tr>
<tr><td width="48%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_78696aa87a57428b8dc7e1d59a24f061.pdf">Palm Valley Capital Fund</a></td><td width="13%">10/09/2021</td><td width="39%">$THS, $TRFPF, $AMRK, $WHGLY</td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2021/10/STJIC-Adviser-Letter-2021-Q3-Final.pdf">St. James Investment Company </a></td><td width="13%">10/09/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/3bd743d8-12f8-fdff-fe90-0c8fbcc891da/September_2021_Investor_Letter_When_Everyone_is_in_Agreement_vfin.01.pdf">Richie Capital Group</a></td><td width="13%">10/11/2021</td><td width="39%">$FICO, $FREE, $INS, $MSCI</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/615770080d5db77b4d03451a/1633120265649/Q32021.pdf">Comus Investments</a></td><td width="13%">10/11/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6163cca8834694462ec5bf6c/1633930408143/2021+Q3.pdf">Blue Tower Asset Management</a></td><td width="13%">10/12/2021</td><td width="39%">$3723.T</td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_7edda3c956ef433dbbc1c1499ad03904.pdf">Wedgewood Partners</a></td><td width="13%">10/13/2021</td><td width="39%">$MSI, $UNH</td></tr>
<tr><td width="48%"><a href="https://dmzpartners.in/Documents/Files/DMZ-6993-DMZ-Partners-Semi-Annual-Letter-FY21-22.pdf">DMZ Partners</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210930.pdf">FMI All Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210930.pdf">FMI International Equity</a></td><td width="13%">10/14/2021</td><td width="39%">$RXLSF, $4403.T</td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210930.pdf">FMI Large Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210930.pdf">FMI Small Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%">$PCAR, $BRKB</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/616997337f463661f6409b2e/1634309939204/Q3+2021+Letter.pdf">Curreen Capital</a></td><td width="13%">10/15/2021</td><td width="39%">$JXN, $MIC</td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">10/15/2021</td><td width="39%">$RYAN, $CSGP</td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">10/15/2021</td><td width="39%">$BKR, $EOG</td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">10/15/2021</td><td width="39%">$AMZN, $ADI, $PPG, $TEL</td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/60e7cf14d93aeb546a13eaf3/1625804565827/Quarterly+Letter+-+Q3+2020.pdf">Worm Capital</a></td><td width="13%">10/16/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_70053807908848a9826c9af71f82c210.pdf">Merion Road Capital</a></td><td width="13%">10/16/2021</td><td width="39%">$BLDR, $RCKY</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/3Q21-Mid-Cap-Comm">Heartland Mid Cap Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$CBOE, $EXC, $SPB</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/3Q21-Value-Fund-Comm">Heartland Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$CVLG, $BBBY, $BRY</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/3Q21-VP-Comm">Heartland Value Plus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$POR, $FCFS, $HAE</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$INMD, $GXO, $UPST, $RNLX, $GENI, $PINS</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$RGEN, $MPWR, $PAYC, $CDNA, $SHAK, $NVRO</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$UPST, $GOOG, $MSFT, $ROKU, $PINS, $PYPL</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$UPST, $PCTY, $GLOB, $OLLI, $NVRO, $CLB</td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/3Q21-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$NTOV, $ELMD</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-letter-9.30.21.pdf">Baron Growth Fund</a></td><td width="13%">10/17/2021</td><td width="39%">$VLD, $DNUT, $SMRT</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-9.30.21.pdf">Baron Real Estate Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-9.30.21.pdf">Baron Health Care Fund</a></td><td width="13%">10/17/2021</td><td width="39%">$NTRA, $GDRX, $MRTX, $STVN</td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2021/">Oakmark Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2021/">Oakmark Global Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-third-quarter-2021/">Oakmark Global Select Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-third-quarter-2021/">Oakmark International Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-third-quarter-2021/">Oakmark International Small Cap Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2021/">Oakmark Select Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3091">Miller/Howard Investments</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/616748eb5c9562698ee55a81/1634158828217/NZS+Capital+Q3+2021+Letter+Final.pdf">NZS Capital</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$APTS, $WARFY, $</td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$MSGE</td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$BMWYY, $DDAIF, $BKRIF, $DB, $CSFFF, $LUNMF</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/616d53174eca1923cfcd5120/1634554647983/Upslope+-+2021Q3+Letter.pdf">Upslope Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$TCHBF, $BWXT</td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-q3-2021-letter">Rowan Street Capital</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_ee97904c9eeb422b94eafdc01a59a79d.pdf">Old West Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$FLGT</td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2021/10/Q3-2021-Letter.pdf">Distillate Capital</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q3.pdf">Alphyn Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$PSTH, $CSPLF, $CRSS, $CFX, $NPSNY, $PROSY, $TCEHY</td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/third-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="13%">10/20/2021</td><td width="39%">$BKNG, $LSTR</td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2021/10/3Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">10/20/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_09_30_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="13%">10/20/2021</td><td width="39%">$ATIP, $VNOM</td></tr>
<tr><td width="48%"><a href="https://www.docdroid.net/IwyWM87/qlet2021-03-3-1-1-pdf">Greenlight Capital</a></td><td width="13%">10/20/2021</td><td width="39%">$GRBK, $BHF, $CSPLF $SONO</td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$DISCK</td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$RNR</td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2021Q3NP.pdf">Hoisington Investment Management</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/3q2021-commentary">Whitebrook Capital</a></td><td width="13%">10/21/2021</td><td width="39%">$QRTEA</td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2021/10/L1-International-Fund-Sep-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$TXN</td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2021.pdf">L1 Capital Long Short Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q3-CVALUE-Review_FINAL-1.pdf">Horizon Kinetics</a></td><td width="13%">10/23/2021</td><td width="39%">$LNG, $TPL</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-letter-9.30.21.pdf">Baron Discovery Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$BASE, $SMRT, $MCG, $FORG, $QLYS</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-9.30.21.pdf">Baron Asset Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$HUBS</td></tr>
<tr><td width="48%"><a href="https://arisaig.com/wp-content/uploads/2021/10/Arisaig-Quarterly-October-2021.pdf">Arisaig Partners</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/6171ac247c6fe3670903e719/1634839592319/Kinsman+Oak+-+Q3+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$RICK</td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="13%">10/23/2021</td><td width="39%">$ABNB</td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2021.pdf">Polen Capital - Global Growth</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2021.pdf">Polen Capital - International Growth</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202109.pdf">Bronte Capital</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q3-Aikya-letter-Investment-Update-Autumn-2021.pdf">Aikya Funds</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2021_10_15.pdf">Myrmikan Research</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/september-performance-estimates/">Crestcat Capital</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2021/10/PzenaNewsletter-Commentary-3Q21-1.pdf">Pzena Investment Management</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202109/Commentary-Small-Cap-Fund-2021-09-30.pdf?c=637705371690000000">Diamond Hill Small Cap Fund</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2021/10/Akre-Focus-Fund-Quarterly-Commentary-2021-Q3.pdf#page=1">Akre Focus Fund</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20210930.pdf">Rondure Global</a></td><td width="13%">10/23/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTMX-APDMX-APHMX-QCommentary-3Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/NEO " target="_blank">NEO </a><a href="https://roic.ai/company/MQ " target="_blank">MQ </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/CDAY " target="_blank">CDAY </a><a href="https://roic.ai/company/ENTG" target="_blank">ENTG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTKX-APDKX-APHKX-QCommentary-3Q21-vR.pdf">Artisan International Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637705452170000000">Weitz Hickory Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637705452170000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637705452170000000">Weitz Partners Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637705452170000000">Weitz Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/6170313de7824974acd905cb/1634742589280/GCAM+Q3-2021+letter.pdf">Giverny Capital Asset Management</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/IIVI" target="_blank">IIVI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=0a903ea1f5">Argosy Investors</a></td><td width="13%">10/25/2021</td><td width="39%"><a href="https://roic.ai/company/DFH " target="_blank">DFH </a><a href="https://roic.ai/company/GO " target="_blank">GO </a><a href="https://roic.ai/company/RRTS " target="_blank">RRTS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd315918c-9729-4e3e-98ca-aac08ad53229_1928x2494.png">Tidefall Capital Management</a></td><td width="13%">10/25/2021</td><td width="39%"><a href="https://roic.ai/company/FRFHF" target="_blank">FRFHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">10/26/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-3Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">10/26/2021</td><td width="39%"><a href="https://roic.ai/company/OLO" target="_blank">OLO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://taovalue.files.wordpress.com/2021/10/taovalue_2021_q3_final.pdf">Tao Value</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/RBLX" target="_blank">RBLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/617c36009692b75c50af7c04/1635530240599/Q3+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_GlobalValueTeam_Commentary.pdf">First Eagle Global Value</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/10/VVP-Quarterly-Letter-21.09.30.pdf">Vulcan Value Partners</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/LRCX " target="_blank">LRCX </a><a href="https://roic.ai/company/UPST " target="_blank">UPST </a><a href="https://roic.ai/company/AMAT" target="_blank">AMAT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q3.pdf?sfvrsn=f7db919d_6">FPA Crescent Fund</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1635549282596">Miller Opportunity Equity</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/GM " target="_blank">GM </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/MTTR " target="_blank">MTTR </a><a href="https://roic.ai/company/WW " target="_blank">WW </a><a href="https://roic.ai/company/VRM " target="_blank">VRM </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1635549972885">Miller Income Strategy</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/VALE " target="_blank">VALE </a><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/10/2021-09-September-Investor-Update.pdf">LRT Capital</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/TSCO" target="_blank">TSCO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_3a862abe12ef49a3a6ed24ad0e544622.pdf">Luca Capital</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/10/Greystone-Capital-Q3-2021-Letter.pdf">Greystone Capital Management</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2021/10/Epoch-Quarterly-Newsletter_October-2021.pdf">Epoch Investment Partners</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/DXCM " target="_blank">DXCM </a><a href="https://roic.ai/company/SNOW " target="_blank">SNOW </a><a href="https://roic.ai/company/TWLO " target="_blank">TWLO </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/EXAS " target="_blank">EXAS </a><a href="https://roic.ai/company/ZG " target="_blank">ZG </a><a href="https://roic.ai/company/SOFI" target="_blank">SOFI</a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_3Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/617ebf28a5fcd26d065ed9a0/1635696424780/Maran+Partners+Fund+LP+2021+3Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/CLAR " target="_blank">CLAR </a><a href="https://roic.ai/company/TPB " target="_blank">TPB </a><a href="https://roic.ai/company/CRSS " target="_blank">CRSS </a><a href="https://roic.ai/company/AOUT" target="_blank">AOUT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/3Q21%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/BOIVF " target="_blank">BOIVF </a><a href="https://roic.ai/company/ORI " target="_blank">ORI </a><a href="https://roic.ai/company/IMBBY" target="_blank">IMBBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/617e856ac0c880691233af57/1635681642905/Q3%2721+letter.pdf">1 Main Capital Partners</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/LMB " target="_blank">LMB </a><a href="https://roic.ai/company/ATIP " target="_blank">ATIP </a><a href="https://roic.ai/company/GREE" target="_blank">GREE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/when-do-you-reevaluate-an-investment">Mindset Value Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q3-2021-letter">Andvari Associates</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/CHE" target="_blank">CHE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-9.30.21.pdf">Baron FinTech Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/WPLCF " target="_blank">WPLCF </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/TOST" target="_blank">TOST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.21.pdf">Baron Partners Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-3Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-3Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-3Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/STAEF " target="_blank">STAEF </a><a href="https://roic.ai/company/ST " target="_blank">ST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-3Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-3Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/10/Alluvial-Capital-Management-Q3-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/CRAWA " target="_blank">CRAWA </a><a href="https://roic.ai/company/LICT " target="_blank">LICT </a><a href="https://roic.ai/company/NUVR " target="_blank">NUVR </a><a href="https://roic.ai/company/WHLR " target="_blank">WHLR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/617c5f708ab5754dbc9ae419/1635540848533/Greenhaven+Road+%282021+Q3%29+Quarterly+Letter%5B21%5D.pdf">Greenhaven Road Capital</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/MKTW" target="_blank">MKTW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2021/11/Q32021-Investment-Commentary_Looking-inward-and-looking-westward.pdf">RGA Investment Advisors</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/KW" target="_blank">KW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2021/11/DKAM-ROE-Reporter-October-2021.pdf">Donville Kent Asset Management</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/PRL.TO " target="_blank">PRL.TO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static.seekingalpha.com/uploads/sa_presentations/847/75847/original.pdf">Tollymore Investment Partners</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/NXGPY " target="_blank">NXGPY </a><a href="https://roic.ai/company/HLFFF " target="_blank">HLFFF </a><a href="https://roic.ai/company/RDBBF" target="_blank">RDBBF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/bec99160-9175-6415-695f-c1f64e5e646e/Steel_City_Capital_3Q_21_Partner_Letter.pdf">Steel City Capital</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/SIGA" target="_blank">SIGA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_3Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="13%">11/04/2021</td><td width="39%"><a href="https://roic.ai/company/MSI " target="_blank">MSI </a><a href="https://roic.ai/company/UNH" target="_blank">UNH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/APFDX-APDDX-APHDX-QCommentary-3Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTSX-APDSX-APHSX-QCommentary-3Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/COMP " target="_blank">COMP </a><a href="https://roic.ai/company/SI " target="_blank">SI </a><a href="https://roic.ai/company/TWOU " target="_blank">TWOU </a><a href="https://roic.ai/company/BTRS " target="_blank">BTRS </a><a href="https://roic.ai/company/OLO" target="_blank">OLO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTLX-APDLX-APHLX-QCommentary-3Q21-vR.pdf">Artisan Value Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Sustainable-Q3-2021-web.pdf">Saturna Capital</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Amana-Q3-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Sextant-Q3-20210930-web.pdf">Saturna Capital - Sextant Funds</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6186d96995befe0544bc22e2/1636227434790/Q3+2021+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/PCHM " target="_blank">PCHM </a><a href="https://roic.ai/company/NNUP" target="_blank">NNUP </a><a href="https://roic.ai/company/DBMG" target="_blank">DBMG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-9.30.21.pdf">Baron Opportunity Fund</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/NRDY " target="_blank">NRDY </a><a href="https://roic.ai/company/TOST " target="_blank">TOST </a><a href="https://roic.ai/company/CDAY" target="_blank">CDAY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-9.30.21.pdf">Baron Small Cap Fund</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/MCG " target="_blank">MCG </a><a href="https://roic.ai/company/SMRT " target="_blank">SMRT </a><a href="https://roic.ai/company/HLLY" target="_blank">HLLY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-3q-2021-partner-letter-w0DTgJKY">Artko Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/HQI" target="_blank">HQI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q3.pdf">Hayden Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/COIN " target="_blank">COIN </a><a href="https://roic.ai/company/ZLPSF" target="_blank">ZLPSF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202021%20Final.pdf">Tweedy Browne</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/hrj7145nzxqor9u/2021_CTG_InvestorLetter_II.pdf?dl=0">Canterbury Tollgate</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1M9lcgQF8GuavsFmPSmyEwmuGqHQekh3t/view">Andaz Private Investments</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.riveroakcapital.se/docs/2021H1-ShareholderLetter-RiverOakCapitalAB.pdf">River Oak Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2021/11/2021Q3-Commentary.pdf">Palm Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/618c1c08863e5466ef40eb3b/1636572168864/3Q21+Final.pdf">Long Cast Advisers </a></td><td width="13%">11/22/2021</td><td width="39%"><a href="https://roic.ai/company/SANW " target="_blank">SANW </a><a href="https://roic.ai/company/PDEX " target="_blank">PDEX </a><a href="https://roic.ai/company/CTEK " target="_blank">CTEK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2021-q3.pdf?sfvrsn=8cde919d_10">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">11/22/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2021/11/2021-Q3-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/FARM " target="_blank">FARM </a><a href="https://roic.ai/company/INVE " target="_blank">INVE </a><a href="https://roic.ai/company/GMS " target="_blank">GMS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/">Ariel Trust Funds</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/BIDU " target="_blank">BIDU </a><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/GNTX" target="_blank">GNTX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.gwinvestors.com/wp-content/uploads/2021.11.23-Q3-Letter-Defense-Offense-Conviction-v4-Clean.pdf">GreenWood Investors</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-3Q21.pdf">Horos Funds</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q3%20Commentary/2021.Q3%20GR_Market_Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SaltLight_Investor_Letter_3Q21.pdf">Saltlight Capital </a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/619ea3551952ea74563e6b13/1637786454976/2021+Q3_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">12/14/2021</td><td width="39%"><a href="https://roic.ai/company/SWIR " target="_blank">SWIR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.turtlecreek.ca/wp-content/uploads/2021/11/Turtle-Creek-Quarterly-Commentary-2021-Q3.pdf">Turtle Creek</a></td><td width="13%">12/14/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<hr /><span style="font-size: large;">2nd Quarter 2021</span><br /><hr /><br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/07/STJIC-Adviser-Letter-2021-Q2-Final.pdf">St. James Investment Company </a></td><td width="15%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://east72.com.au/wp-content/uploads/2021/07/QUARTERLY-REPORT-June-2021-WEB.pdf">East72 Holdings</a></td><td width="10%">7/14/2021</td><td width="40%">$NAM.AX, $SZL.AX</td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_65_en.pdf">Vltava Fund</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/07/HCM-Q2-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="10%">7/14/2021</td><td width="40%">$ABCM</td></tr>
<tr><td width="50%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q2.pdf">Alphyn Capital Management</a></td><td width="10%">7/14/2021</td><td width="40%">$CRSS, $VMEO</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/60e104d88cf4a87ec6121191/1625359578136/Q22021.pdf">Comus Investments</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210630.pdf">FMI All Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210630.pdf">FMI International Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210630.pdf">FMI Large Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210630.pdf">FMI Small Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_a7010caa73484aa79860d446dfa072a3.pdf">Wedgewood Partners</a></td><td width="10%">7/14/2021</td><td width="40%">$CDW, $CPRT, $TSM</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">7/15/2021</td><td width="40%">$PROSY, $0200.HK</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_8c46c9c6e9d44d60a516d5174bda2794.pdf">Palm Valley Capital Fund</a></td><td width="10%">7/15/2021</td><td width="40%">$COG, $VWTR</td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/17j-cxhXk7CoZMnur9D3PlEstPJoENtoL/view">MPE Capital</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/60eef4cdf2ccfc444305a495/1626272975590/Worm+Capital+-+Q2+2021+Letter.pdf?utm_medium=email&_hsmi=140441214&_hsenc=p2ANqtz-8vBjMBZwyJR_miVrb6tu4LVmeAcMcRMU8xdNYgyNu-KeNGt9qPTyZaf3IvsTwE__LIbUSRxAbF9cgwLhcKJEe38NWRBw&utm_content=140441214&utm_source=hs_email">Worm Capital</a></td><td width="10%">7/17/2021</td><td width="40%">$ABNB, $SHOP, $TSLA</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/37ed0e4e-201e-3501-874f-69ad3236db36/June_2021_Investor_Letter_There_s_a_Playbook_for_That.pdf">Richie Capital Group</a></td><td width="10%">7/17/2021</td><td width="40%">$INS, $MKTX, $VMD, $TTD, $ADBE</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-june-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q2-letter-latent-value">Andvari Associates</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_2Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$NET, $BSY, $HUBS, $DKNG, $MGNI, $DISCK</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$PGNY, $CLB, $FSV, $EAR, $CHGG, $NEO</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$STRS, $FNMA</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2021/07/2Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_afba319ad48349ba9cf0f4bc1b4a9e21.pdf">Old West Capital Management</a></td><td width="10%">7/17/2021</td><td width="40%">$RFL, $URPTF</td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/07/Q2-2021-Letter.pdf">Distillate Capital</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.nelsoncapitalmgmt.com/wp-content/uploads/2021/07/2021-Q2-Nelson-Capital-Quarterly-Commentary.pdf">Nelson Capital</a></td><td width="10%">7/18/2021</td><td width="40%">$BKNG</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.21.pdf">Baron Health Care Fund</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.21.pdf">Baron Real Estate Fund</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$PPG, $FCFS, $DGX</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$MNR, $PDCO, $BBBY</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$DRQ, $AVNS, $FCFS</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/60ec92eef91837287388095f/1626116847850/NZS+Capital+Q2+2021+Letter.pdf">NZS Capital</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202Q2021%20Letter%20to%20Investors.pdf?__hstc=85836102.15f20432e0ea5dec955a13ff3d6a419d.1626639822446.1626639822446.1626639822446.1&__hssc=85836102.2.1626639822448&__hsfp=430853256&hsCtaTracking=58fc37ba-5f5d-410d-b210-865e3d2529e2%7C48fcdb2e-21a4-4454-83b8-dc7e654a0bcf">Massif Capital</a></td><td width="10%">7/18/2021</td><td width="40%">$ADMLF, $EQX, $AOIFF, $EQNR</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=2249">Miller/Howard Investments</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$AFL</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$BD, $DLTR, $PCAR, $PGR</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$CNNE, $PCAR</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_06_30_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="10%">7/20/2021</td><td width="40%">$ADTN, $ATSG, $GVA, $JRVR</td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/2q2021-commentary">Whitebrook Capital</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_8d85a47df4ac4bb28f307921fcd64961.pdf">Merion Road Capital</a></td><td width="10%">7/20/2021</td><td width="40%">$FLXS</td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/07/Arisaig-Quarterly-July-2021.pdf">Arisaig Partners</a></td><td width="10%">7/20/2021</td><td width="40%">$ARCE</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2021Q2NP.pdf">Hoisington Investment Management</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://l1international.com/wp-content/uploads/2021/07/L1-International-Fund-June-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$GPK</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/60f5143e81f38b20589bb696/1626674238831/2021+Q2.pdf">Blue Tower Asset Management</a></td><td width="10%">7/20/2021</td><td width="40%">$CNR, $TCS.L</td></tr>
<tr><td width="50%"><a href="https://tidefall.substack.com/p/q2-2021-letter">Tidefall Capital Management</a></td><td width="10%">7/20/2021</td><td width="40%">$FB</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/60f7ad8a3fe7684a17b9ef61/1626844555719/Q2+2021Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="10%">7/22/2021</td><td width="40%">$CCUR $YSACU $GOED $MGAG $SODI $PCOA $ASTR $DBMG $PCHM $NNUP</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/60f6f873da228c63e37549b6/1626798195865/Kinsman+Oak+-+Q2+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/07/VVP-Quarterly-Letter-21.06.30.pdf">Vulcan Value Partners</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2021.pdf">Polen Capital - Global Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2021.pdf">Polen Capital - International Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/1766ad27-75c5-d3bf-a347-f467d6f0f302/Steel_City_Capital_2Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="10%">7/22/2021</td><td width="40%">$ATEX, $NEWSA, $LSYN, $SIGA, $TRUP</td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/second-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$NTDOY, $ILMN</td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_93a7743bb3f24198a2d79dad4efa8a48.pdf">Spree Capital</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2021/">Oakmark Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2021/">Oakmark Global Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$THC, $INCZY</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-quarter-2021/">Oakmark Global Select Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-quarter-2021/">Oakmark International Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2021/">Oakmark Select Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$ALSN</td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q2-CVALUE-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="10%">7/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/60fa220c811d9973fb0f68e0/1627005453234/Maran+Partners+Fund+LP+2021+2Q+Letter.pdf">Maran Capital Management</a></td><td width="10%">7/24/2021</td><td width="40%">$CRSS, $CTT.PT, $CLAR, $PCYO</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202106.pdf">Bronte Capital</a></td><td width="10%">7/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.21.pdf">Baron Asset Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$AVLR</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.21.pdf">Baron Growth Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$ZY</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Quarterly-Letter-6.30.21.pdf">Baron Small Cap Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$JBI, $FA</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/60fb1f431155b25f3e6e24a3/1627070275338/Laughing+Water+Capital+H1+2021.pdf">Laughing Water Capital</a></td><td width="10%">7/25/2021</td><td width="40%">$AIMFF, $TACT, $THRY</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/60fbe987b6530a7c47398e53/1627122055845/Q2%2721+letter.pdf">1 Main Capital Partners</a></td><td width="10%">7/25/2021</td><td width="40%">$MHH, $ATIP.WS, $LMB</td></tr>
<tr><td width="50%"><a href="https://www.dropbox.com/s/01e8amkocdrjjai/Voss%20Value%20Fund%20Q2%202021%20Letter.pdf?dl=0">Voss Capital</a></td><td width="10%">7/25/2021</td><td width="40%">$IMXI, $ECNCF</td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/07/Greystone-Capital-Q2-2021-Letter-1.pdf">Greystone Capital Management</a></td><td width="10%">7/25/2021</td><td width="40%">$HOME, $THBRF</td></tr>
<tr><td width="50%"><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_39ad74e8a82d44d0bdcf9529b65981f7.pdf">Emeth Value Capital</a></td><td width="10%">7/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/2Q21-Investor-Letter-.pdf">Summers Value Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTKX-APDKX-APHKX-QCommentary-2Q21-vR.pdf">Artisan International Value Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTMX-APDMX-APHMX-QCommentary-2Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$LPLA, $ENTG, $WMS, $HUBS, $GMAB</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTSX-APDSX-APHSX-QCommentary-2Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$OLO, $WK, $EB, $WMS, $VMI, $BIGC</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-6.30.21.pdf">Baron Opportunity Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$EDR, $INDI, $RNG, $TEAM, $SOFI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-6.30.21.pdf">Baron Partners Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-6.30.21.pdf">Baron FinTech Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$DLO, $MQ, $SOFI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-6.30.21.pdf">Baron Discovery Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$JBGS, $DV, $INDI, $ALKT, $PING, $ZY, $OLK, $RXRX</td></tr>
<tr><td width="50%"><a href="https://www.akrefund.com/wp-content/uploads/2021/07/Akre-Focus-Fund-Quarterly-Commentary-2021-Q2.pdf">Akre Focus Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/07/Epoch-Quarterly-Newsletter_July-2021.pdf">Epoch Investment Partners</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/07/Qlet2021-02-1.pdf">Greenlight Capital</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-2Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202106/Commentary-Small-Cap-Fund-2021-06-30.pdf?c=637629261700000000">Diamond Hill Small Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/07/Alluvial-Capital-Management-Q2-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="10%">7/28/2021</td><td width="40%">$GTX, $PIOE, $CRSS, $TPRP</td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=b8f98eac91">Argosy Investors</a></td><td width="10%">7/28/2021</td><td width="40%">$FERG, $ARLO, $VZIO</td></tr>
<tr><td width="50%"><a href="https://static.seekingalpha.com/uploads/sa_presentations/620/71620/original.pdf">JDP Capital Management</a></td><td width="10%">7/29/2021</td><td width="40%">$SPOT, $ROKU, $DRTT, $INVVY, $STNE</td></tr>
<tr><td width="50%"><a href="https://boyarvaluegroup.com/bvg-pdf/2Q_2021_BVG.pdf">Boyar Value Group</a></td><td width="10%">7/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/60f5db77fc97a93375260820/1626725239450/2Q21+Letter.pdf">Long Cast Advisers </a></td><td width="10%">7/29/2021</td><td width="40%">$QRHC</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637632664960000000">Weitz Hickory Fund</a></td><td width="10%">7/31/2021</td><td width="40%">$MKTX, $DNB</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637632664960000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637632664960000000">Weitz Partners Value Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637632664960000000">Weitz Value Fund</a></td><td width="10%">7/31/2021</td><td width="40%">$ROP</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/60edefe81f6a951228719afb/1626206185704/GCAM+Q2+2021+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">7/31/2021</td><td width="40%">$ACOPF, $ATHM, $KMX</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/610450a3423d6c305d644531/1627672739392/Q2+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/07/DKAM-ROE-Reporter-July-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">7/31/2021</td><td width="40%">$PLCKF, $NOW.V</td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf">First Eagle Global Value</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rowanstreet.com/post/rowan-street-h1-2021-letter">Rowan Street Capital</a></td><td width="10%">7/31/2021</td><td width="40%">$SPOT, $FB</td></tr>
<tr><td width="50%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q2.pdf?sfvrsn=9d9e919d_4">FPA Crescent Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_07_12.pdf">Myrmikan Research</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2021.pdf">L1 Capital Long Short Fund</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q2-Aikya-Letter.pdf">Aikya Funds</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q21.pdf">Horos Funds</a></td><td width="10%">8/10/2021</td><td width="40%">$SUHJY, $MBI</td></tr>
<tr><td width="50%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202021%20-%20Final.pdf">Tweedy Browne</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/60f5682aac77840235833ab0/1626695723048/Upslope+-+2021Q2+Letter.pdf">Upslope Capital Management</a></td><td width="10%">8/10/2021</td><td width="40%">$MKTX, $ENV</td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/july-research-letter-not-your-mothers-inflation/">Crestcat Capital</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/staying-the-course-inflation-and-value-investing/">Pzena Investment Management</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/08/06/investor-letter-2021-q2/">Tao Value</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdpointlimited.com/wp-content/uploads/2021/08/Third-Point-Q2-2021-Investor-Letter-TPIL.pdf">Third Point</a></td><td width="10%">8/10/2021</td><td width="40%">$RH, $DIS</td></tr>
<tr><td width="50%"><a href="https://www.rgaia.com/wp-content/uploads/2021/08/Q2-2021-Investment-Commentary_Final.pdf">RGA Investment Advisors</a></td><td width="10%">8/10/2021</td><td width="40%">$SFIX</td></tr>
<tr><td width="50%"><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_41dd99dced82438a8be6619d79aa814d.pdf">Luca Capital</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1628686646354">Miller Income Strategy</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1628686579058">Miller Opportunity Equity</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q2%20Commentary/2021.Q2%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/APFDX-APDDX-APHDX-QCommentary-2Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTLX-APDLX-APHLX-QCommentary-2Q21-vR.pdf">Artisan Value Fund</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2q-2021-partner-letter-XzMTMlk1">Artko Capital</a></td><td width="10%">8/23/2021</td><td width="40%">$GLBI, $CURN</td></tr>
<tr><td width="50%"><a href="https://choice-equities.com/wp-content/uploads/2021/08/2021-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="10%">8/23/2021</td><td width="40%">$INVE</td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/07/2021-06-June-Investor-Update.pdf">LRT Capital</a></td><td width="10%">8/23/2021</td><td width="40%">$DPZ, $SCL, $MAR, $NVO, $RGEN, $HXL, $WSO, $TPL, $CIGI, $TFII</td></tr>
<tr><td width="50%"><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_88277daf3c064730b1a221d3605374cd.pdf">Saga Partners</a></td><td width="10%">8/23/2021</td><td width="40%">$GDRX</td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-2Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-2Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-2Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-2Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-2Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.appleseedfund.com/wp-content/uploads/2021/08/APPLX-2021-Q3-Letter.pdf">Appleseed Fund</a></td><td width="10%">8/28/2021</td><td width="40%">$HLF, $BOWFF, $ALL, $NPSNY</td></tr>
<tr><td width="50%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/">Ariel Trust Funds</a></td><td width="10%">8/28/2021</td><td width="40%">$ADT, $BOKF, $MDP</td></tr>
<tr><td width="50%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20210630.pdf">Rondure Global</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_2Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="10%">8/28/2021</td><td width="40%">$CDW, $CPRT, $TSM</td></tr>
<tr><td width="50%"><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/semi-annual-letter-to-shareholders-2021.pdf?sfvrsn=6">Fundsmith Equity Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/60fd6459b6530a7c47483cb4/1627219033515/Greenhaven+Road+Letter+%282021+Q2%29%5B14%5D.pdf">Greenhaven Road Capital</a></td><td width="10%">8/28/2021</td><td width="40%">$MKTW</td></tr>
<tr><td width="50%"><a href="http://www.goodhavenfunds.com/media/pdfs/2021_SAR.pdf">GoodHaven Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q2.pdf">Hayden Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/46240c98-192f-54b0-e33f-04bcfae1a6d3/Arquitos_Investor_Letter_Q2_2021.pdf">Arquitos Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2021.pdf">Evermore Global Value Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1z0cVyJJhW2gOIRJjcnm97gLAHPyGB7y5/view">Andaz Private Investments</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://4bcad08e-7e47-411d-ace4-bf332d18ac81.filesusr.com/ugd/ae68ee_0b2b61051db64ebd8e6c9b6bf84f5bf5.pdf">WertArt Capital</a></td><td width="10%">8/28/2021</td><td width="40%">$SUPN, $GOE.PA, $NTDOY, $HSCNF</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/129847b2-a046-f058-3f5b-574f42e332c7/Rhizome_Partners_Q2_2021_Investor_Letter_Final_8_11_2021.pdf">Rhizome Partners</a></td><td width="10%">8/28/2021</td><td width="40%">$FRPH</td></tr>
<tr><td width="50%"><a href="https://palmcapital.co.za/wp-content/uploads/2021/08/2021Q2-Commentary.pdf">Palm Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
</tbody>
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<hr /><span style="font-size: large;">1st Quarter 2021</span><br /><hr /><br />
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/04/STJIC-Adviser-Letter-2021-Q1-Final.pdf">St. James Investment Company </a></td><td width="15%">4/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/04/HCM-Q1-21-Quarterly-Letter.pdf">Headwaters Capital</a></td><td width="10%">4/05/2021</td><td width="40%">$AFG, $TREE</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/60661aecfb181a159d5db5c6/1617304300584/Q12021.pdf">Comus Investments</a></td><td width="10%">4/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/606b99c2db9f0919a2294aa6/1617664479120/Del+Principe+O%27Brien+March+2021+Letter+.pdf">Del Principe O’Brien Financial Advisors</a></td><td width="10%">4/05/2021</td><td width="40%">$AVGO, $DISCA, $BIIB</td></tr>
<tr><td width="50%"><a href="http://east72.com.au/wp-content/uploads/2021/04/QUARTERLY-REPORT-Public-March-2021.pdf">East72 Holdings</a></td><td width="10%">4/06/2021</td><td width="40%">$VHI, $HALFF</td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_64_en.pdf">Vltava Fund</a></td><td width="10%">4/07/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$PHYS, $CRI, $WHGLY, $DOX</td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_349e86f42c3f42c78ed7759e48940932.pdf">Merion Road Capital</a></td><td width="10%">4/08/2021</td><td width="40%">$FNF, $RCKY</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2021/">Oakmark Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$MO, $COP</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2021/">Oakmark Select Fund</a></td><td width="10%">4/08/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2021/">Oakmark Global Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$CGEMY, $FISV, $GD, $HUM, $SAP</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-quarter-2021/">Oakmark Global Select Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$DDAIF, $CS</td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Worm%20Capital%20-%20Q1%202021%20Letter.pdf?utm_medium=email&_hsmi=120528142&_hsenc=p2ANqtz-88OPptDlNk0V_RKer-I8HnGkft2e5Y_-jllYmTk9S3aCp_JUT34K1fdxVHIJ8TE3KQBnHX6Ndz6Zovncgns-qhi6iROQ&utm_content=120528142&utm_source=hs_email">Worm Capital</a></td><td width="10%">4/09/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://p.weebly.com/14123551/80d38a39e3/ACML_2021_Q1.pdf">Alphyn Capital Management</a></td><td width="10%">4/11/2021</td><td width="40%">$CFX</td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=a1db0cdb72">Argosy Investors</a></td><td width="10%">4/12/2021</td><td width="40%">$KAR, $GO, $CNSWF, $RRTS, $DFH, $RGLD</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/c6900e62-2470-4112-ad70-66c7876601e0/March_2021_Investor_Letter_Institutional_Imperative_vFinal.pdf">Richie Capital Group</a></td><td width="10%">4/12/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_de9b06acfa2e43c1b2cccbeecbca5f38.pdf">Wedgewood Partners</a></td><td width="10%">4/14/2021</td><td width="40%">$BKNG, $EW, $ODFL, $SBUX</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">4/14/2021</td><td width="40%">$MSTR, $DKNG, $MGNI, $EH, $CHPT, $PLAN</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">4/14/2021</td><td width="40%">$SHAK, $CTRX, $TECH, $BLI, $BIGC, $AVLR</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210331.pdf">FMI All Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210331.pdf">FMI International Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210331.pdf">FMI Large Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210331.pdf">FMI Small Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">4/15/2021</td><td width="40%">$UNH, $BKNG, $SCHW, $SQ, ZG, $SNOW, $FTCH</td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$UNH, $BKNG, $SCHW, $SQ, ZG, $SNOW, $FTCH</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202103.pdf">Bronte Capital</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/607848df2b3546320bb614e8/1618495713359/Upslope+-+2021Q1+Letter.pdf">Upslope Capital Management</a></td><td width="10%">4/15/2021</td><td width="40%">$FCV, $TMXXF, $CBOE</td></tr>
<tr><td width="50%"><a href="https://www.nzscapital.com/quarterly-letters/q1-2021-letter">NZS Capital</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$LUMN, $AMG, $CNX, $GE, $MGM, $FRFHF, $CNHI</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$LUMN,$CNX, $ESRT, $RLGY, $MAT</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">4/15/2021</td><td width="40%">$TOITF, $ATVI</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">4/15/2021</td><td width="40%">$TOITF, $ATVI</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2021Q1NP.pdf">Hoisington Investment Management</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$FISV</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q1-letter-fewer-but-better">Andvari Associates</a></td><td width="10%">4/15/2021</td><td width="40%">$CSGP</td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_e111d7b217d84fc6a3d141bc4da4e2c2.pdf">Old West Capital Management</a></td><td width="10%">4/16/2021</td><td width="40%">$RFL</td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/1Q21-Investor-Letter.pdf">Summers Value Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$ELMD</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.21.pdf">Baron Asset Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$TRIP, $EPAM</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.21.pdf">Baron Discovery Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$TRIP, $VSPR, $MRCY, $DSP, $SAIL</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.21.pdf">Baron Health Care Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$ICLR, $TECH</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-3.31.21_0.pdf">Baron Opportunity Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/first-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$$FAST, $HD</td></tr>
<tr><td width="50%"><a href="https://info.massifcap.com/cs/c/?cta_guid=1c92330b-c129-4677-99c2-1e472dbf2bf3&signature=AAH58kGMg6AB-2tlmoiqkWnIMLMFRr9cxQ&pageId=44998595421&placement_guid=7176c8ab-1803-4f2a-982d-00261ee33e87&click=6453a38f-d437-4d45-9ed8-0f022fea3c0a&hsutk=c7a00000129d1ab31df10178dc3acf03&canon=https%3A%2F%2Finfo.massifcap.com%2Ffirst-quarter-2021-letter-to-investors-full&utm_referrer=https%3A%2F%2Fwww.reddit.com%2F&portal_id=4518141&redirect_url=APefjpEOhoAzbqmMIGOodmqp0YJMarGkKPCQ1nX11xmBRxJ3L4UbCp_iosSORBALh1LqwIe1d_UqRT13T7zUISDnL-XXSv7NhAmiwt7Dncx1kydBMgDScbvQqAFVXlU4Qnf2IA_vtv_KNfm2dnj5hsQkQS2Z5eeIE8Agbwyqo5u5eJEwmADP9bR9-Y5VMS0hdwmUfjzSDDyXqFpOc4YMjE9gg5FAMt3Q29eD5dCCdKc00dq0Mko-5sE915i8kn9_2z5U3P3EaJ-kN97S0lErcVWVMvpQyLPkMA">Massif Capital</a></td><td width="10%">4/16/2021</td><td width="40%">$LAC, $IVN, $TRQ</td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/04/Qlet2021-01-2.pdf">Greenlight Capital</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_1f4310f663684c688a501f1d425e1cb5.pdf">Spree Capital</a></td><td width="10%">4/16/2021</td><td width="40%">$ICE</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=3059">Miller/Howard Investments</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2021/04/shareholder-letter-smead-value-fund1.pdf">Smead Value Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_03_31_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="10%">4/17/2021</td><td width="40%">$UPLD, $ORBC, $JIH</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTMX-APDMX-APHMX-QCommentary-1Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/1q2021-commentary">Whitebrook Capital</a></td><td width="10%">4/17/2021</td><td width="40%">$DISCA, $CNDT</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6073fa24de1505281daa7d78/1618213412780/2021+Q1.pdf">Blue Tower Asset Management</a></td><td width="10%">4/17/2021</td><td width="40%">$CGEO.L</td></tr>
<tr><td width="50%"><a href="https://l1international.com/wp-content/uploads/2021/04/L1_International_Fund_March_2021_Quarterly.pdf">L1 International Capital Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-1Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-1Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-1Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="10%">4/17/2021</td><td width="40%">$HNHPF, $WEGZY, $6415.TW</td></tr>
<tr><td width="50%"><a href="https://www.nelsoncapitalmgmt.com/wp-content/uploads/2021/04/2021Q1.pdf">Nelson Capital</a></td><td width="10%">4/17/2021</td><td width="40%">$DNMR</td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/04/Q1-2021-Letter.pdf">Distillate Capital</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.akrefund.com/wp-content/uploads/2021/04/Akre-Focus-Fund-Quarterly-Commentary-2021-Q1.pdf">Akre Focus Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="10%">4/18/2021</td><td width="40%">$VREOF, $SKY, $MX, $NLS, $ASPU, $STRL, $ROAD</td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/04/Arisaig-Quarterly-April-2021.pdf">Arisaig Partners</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$LEN, $BAM, $CBRE, $JBGS, $PLD</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$BSIG</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr><tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.21.pdf">Baron Growth Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$ACVA</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.21.pdf">Baron Partners Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.21_0.pdf">Baron Real Estate Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc936d6a4-4d95-4062-a6d3-1be113b71c41_1770x2502.png">Tidefall Capital Management</a></td><td width="10%">4/22/2021</td><td width="40%">$BRK.B</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/607dbeff4b7b445d523e1dda/1618853631624/GCAM+Q1+2021+client+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">4/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$UHAL, $RGA, $PSB</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$CCBG, $NFG, $CGAU</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$PAHC, $MEI</td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/04/Greystone-Capital-Q1-2021-Letter.pdf">Greystone Capital Management</a></td><td width="10%">4/25/2021</td><td width="40%">$PW, $SHSP, $HIL, $THRY, $RMNI, $LSYN, $PLBY</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/608403732cc7860039191c41/1619264371755/Q1%2721+letter.pdf">1 Main Capital Partners</a></td><td width="10%">4/25/2021</td><td width="40%">$GOOG, $KKR, $LMB, $PSH, $RICK, $LGIH, $W, $WINE.LN</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="10%">4/25/2021</td><td width="40%">$AMZN, $NFLX, $CRM</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2021.pdf">Polen Capital - Global Growth</a></td><td width="10%">4/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2021.pdf">Polen Capital - International Growth</a></td><td width="10%">4/25/2021</td><td width="40%">$TCRHY, $AON, $SGPYY, $EDU, $ADDYY, $CSLLY, $EVVTY</td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q1-2021-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="10%">4/25/2021</td><td width="40%">$TPL</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/608306de4e49f0272799af39/1619199711634/Kinsman+Oak+-+Q1+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="10%">4/25/2021</td><td width="40%">$BWXT</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-3.31.21.pdf">Baron FinTech Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.21.pdf">Baron Small Cap Fund</a></td><td width="10%">4/27/2021</td><td width="40%">$DRVN, $ETWO, $SHLS</td></tr>
<tr><td width="50%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q21.pdf">Horos Funds</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/60837419998e6d1327cad2f2/1619227673384/Laughing+Water+Capital+Q1+2021.pdf">Laughing Water Capital</a></td><td width="10%">4/27/2021</td><td width="40%">$RMNI, $ITI</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTKX-APDKX-APHKX-QCommentary-1Q21-vR.pdf">Artisan International Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTSX-APDSX-APHSX-QCommentary-1Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary_0.PDF">First Eagle Global Value</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/04/VVP-Quarterly-Letter-21.03.31.pdf">Vulcan Value Partners</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637551430890000000">Weitz Hickory Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637551430890000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637551430890000000">Weitz Partners Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637551430890000000">Weitz Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2021.pdf">L1 Capital Long Short Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aikya.co.uk/wp-content/uploads/2021/04/2021-Q1-Aikya-letter.pdf">Aikya Funds</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/04/Alluvial-Capital-Management-Q1-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="10%">4/28/2021</td><td width="40%">$PIOE, $CRAWA, $LGNC, $WHLR, $MMAC</td></tr>
<tr><td width="50%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202103/Commentary-Small-Cap-Fund-2021-03-31.pdf?c=637552293870000000">Diamond Hill Small Cap Fund</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rgaia.com/wp-content/uploads/2021/04/Q1-2021-Investment-Commentary-FINAL.pdf">RGA Investment Advisors</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q1.pdf?sfvrsn=8">FPA Crescent Fund</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/608c14f248d0480bd46a9f0f/1619793138598/Maran+Partners+Fund+LP+2021+1Q+Letter.pdf">Maran Capital Management</a></td><td width="10%">5/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/608f30c68a421213d86a1fca/1619996870844/Q1+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">5/02/2021</td><td width="40%">$VQSLF</td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/04/Epoch-Quarterly-Newsletter_April-2021.pdf">Epoch Investment Partners</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/04/DKAM-ROE-Reporter-April-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-1Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/04/28/investor-letter-2021-q1/">Tao Value</a></td><td width="10%">5/03/2021</td><td width="40%">$TAL, $FUTU</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6090ae79e8c9d0715bdbb1d2/1620094586126/Q1+2021Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="10%">5/04/2021</td><td width="40%">$SODI $PCOA $DBMG $PCHM $PDRX $RILY $SBNC</td></tr>
<tr><td width="50%"><a href="https://www.palmharbourcapital.com/files/PHC_Q1_2021_Letter.pdf">Palm Harbour Capital</a></td><td width="10%">5/06/2021</td><td width="40%">$SEOAY, $</td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/156KaPykj421-qrzeb22yP2Yr55kdmGc2/view">Andaz Private Investments</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202021%20-%20Final.pdf">Tweedy Browne</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://bluehawkinvestors.com/wp-content/uploads/2021/05/Q1-2021-Investor-Letter.pdf">Blue Hawk Investment Group </a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1620323022969">Miller Income Strategy</a></td><td width="10%">5/06/2021</td><td width="40%">$PBI, $CHS, $VTRS, $GEO</td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1620314382817">Miller Opportunity Equity</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-1Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-1Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdpointlimited.com/wp-content/uploads/2021/05/Third-Point-Q1-2021-Investor-Letter-TPIL.pdf">Third Point</a></td><td width="10%">5/07/2021</td><td width="40%">$UPST, $GRAB, $CSGP</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/7840b0a9-c29d-4f13-a92e-3ab748b62a11/Steel_City_Capital_1Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="10%">5/10/2021</td><td width="40%">$NWSA, $SIGA, $ATEX, $LSYN, $TRUP, $WDFC</td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2021.Q1%20Commentary/2021.Q1%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/crescat-april-investor-letter/">Crestcat Capital</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_05_13.pdf">Myrmikan Research</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/early-days-in-the-value-recovery-commentary/">Pzena Investment Management</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abd98abb-2e75-dd3f-742d-521ce1e13373/050521_Bonhoeffer_Partner_Letter_Q1_2021.pdf">Bonhoeffer Capital Management</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.appleseedfund.com/wp-content/uploads/2021/05/APPLX-Q1-2021-Semi-Annual-Letter.pdf">Appleseed Fund</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Sustainable-Q1-2021-web.pdf">Saturna Capital</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Amana-Q1-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Sextant-Q1-2021-web.pdf">Saturna Capital - Sextant Funds</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://choice-equities.com/wp-content/uploads/2021/05/2021-Q1-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="10%">5/13/2021</td><td width="40%">$BNED, $FARM</td></tr>
<tr><td width="50%"><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2021-partner-letter-oNRTNaLn">Artko Capital</a></td><td width="10%">5/23/2021</td><td width="40%">$HQI</td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/04/2021-03-March-Performance-Update-Public.pdf">LRT Capital</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/">Ariel Trust Funds</a></td><td width="10%">5/23/2021</td><td width="40%">$AXTA, $SNA, $SRCL</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/APFDX-APDDX-APHDX-QCommentary-1Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTLX-APDLX-APHLX-QCommentary-1Q21-vR.pdf">Artisan Value Fund</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/60a80d2db82d4c0854264a21/1621626158448/Bonsai+Partners+Q1+2021+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td width="10%">5/23/2021</td><td width="40%">$RDBBF, $MU, TSYHY, $PHPYF, $LKQ, $TSM, $ILMN</td></tr>
</tbody>
</table>
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<hr /><span style="font-size: large;">4th Quarter 2020</span><br /><hr /><br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="15%">1/14/2021</td><td width="40%">$NET, $ROKU, $FTCH, $QDEL, $STMP, $ZM</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">1/14/2021</td><td width="40%">$CDNA, $NTRA, $CMD, $STMP, $TNDM, $QDEL</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://p.weebly.com/14123551/0fd3577090/ACML_2020_Q4.pdf">Alphyn Capital Management</a></td><td width="10%">1/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/6010d367849bae794accb740/1611715431638/Q4+2020+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1WotHxQKWf4FdXA4Fz-1oWl9MVCMet2XA/view">Andaz Private Investments</a></td><td width="10%">1/04/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q4-letter-the-leap-of-faith">Andvari Associates</a></td><td width="10%">1/07/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=e596a3f39f">Argosy Investors</a></td><td width="10%">1/12/2021</td><td width="40%">$PINS, $JD, $RP, $SPB, $FTV, $WFC</td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/01/Arisaig-Quarterly-January-2021.pdf">Arisaig Partners</a></td><td width="10%">1/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/APFDX-APDDX-APHDX-QCommentary-4Q20-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTIX-APDIX-APHIX-QCommentary-4Q20-vR.pdf">Artisan International Value Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTMX-APDMX-APHMX-QCommentary-4Q20-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTSX-APDSX-APHSX-QCommentary-4Q20-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$SMMC ($BTRS), $DNLI, $ZNGA, $FROG.</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTLX-APDLX-APHLX-QCommentary-4Q20-vR.pdf">Artisan Value Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://docsend.com/view/ffasrkj3xbcp73rp">Avory & Company</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-12.31.20.pdf">Baron Asset Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$SFIX, $FTCH.</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-12.31.20.pdf">Baron Discovery Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$CDNA, $TPIC, $ALGM, $ESPR, $EBS, $SILK, $FQVTF, $MDEVF, $RRR, $EAR.</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-12.31.20.pdf">Baron FinTech Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$SHOP, $MELI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-12.31.20.pdf">Baron Growth Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$DM</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-12.31.20.pdf">Baron Health Care Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-12.31.20.pdf">Baron Opportunity Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$OPEN, $SFIX, $FTCH</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-12.31.20.pdf">Baron Partners Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-12.31.20_0.pdf">Baron Real Estate Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_12_31_bca_scv_marketcomm_final.pdf">Bernzott Capital Advisors</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/600e93bc3e161e647bf37eb8/1611568060751/2020+Q4.pdf">Blue Tower Asset Management</a></td><td width="10%">1/27/2021</td><td width="40%">$EZPW</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202012.pdf">Bronte Capital</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5fef8b00dac66e1e16b7d4d0/1609534209232/Q42020.pdf">Comus Investments</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://concentratedcompounding.com/2020-annual-letter/">Concentrated Compounding*</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2020/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">1/20/2021</td><td width="40%">$TKAYY, $WMG, $WDAY, $OCPNY.</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2020/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/01/Q4-2020-Letter.pdf">Distillate Capital</a></td><td width="10%">1/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/01/DKAM-ROE-Reporter-January-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/dd77d6a119e511a93e9308144/files/d2f72ae0-8aec-47c9-9e3a-66ec7ebe0d92/Edgebrook_Annual_Letter_2020.01.pdf">Edgebrook Partners</a></td><td width="10%">1/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/01/Epoch-Quarterly-Newsletter_January-2021.pdf">Epoch Investment Partners</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/FE_GV_Annual_Letter_F-CM-GVT-ANNLTR-P-US.pdf">First Eagle Global Value</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20201231.pdf">FMI All Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20201231.pdf">FMI International Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20201231.pdf">FMI Large Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20201231.pdf">FMI Small Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://foragerfunds.com/wp-content/uploads/2021/01/FORAGER-QR_DEC20.pdf">Forager Funds</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2020.pdf?sfvrsn=4">Fundsmith Equity Fund</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/6008b2665bd7e21cbb2aefd0/1611182698327/GCAM+FY+2020+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.goodhavenfunds.com/media/pdfs/2020_AR.pdf">GoodHaven Fund</a></td><td width="10%">1/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/01/Qlet2020-041.pdf">Greenlight Capital</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/01/Greystone-Capital-Q4-2020-Letter.pdf">Greystone Capital Management</a></td><td width="10%">1/16/2021</td><td width="40%">$CHRM, $TRRVF, $LSYN, $USAT, $FREE</td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/01/Q4-20-HCM-Investment-Letter-FINAL.pdf">Headwaters Capital</a></td><td width="10%">1/10/2021</td><td width="40%">$ENTG, $FICO, $INSP</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$FCX, $RJF, $BG, $AAP</td></tr>
<tr><td width="50%"><a href="">Heartland Select Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$THO, $NVT, $CAGDF</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$PAHC, $RILY.</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2020Q4NP.pdf">Hoisington Investment Management</a></td><td width="10%">1/19/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2020.pdf">L1 Capital Long Short Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/600d8da0643aa1698781e02a/1611500960816/Laughing+Water+Capital+YE+2020.pdf">Laughing Water Capital</a></td><td width="10%">1/24/2021</td><td width="40%">$AIMFF, $CDMO, $PAR, $USAT</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/01/2020-12-December-Performance-Update.pdf?utm_source=LRT+Capital+Management&utm_campaign=7b597b9b26-EMAIL_CAMPAIGN_4_27_2019_9_58_COPY_01&utm_medium=email&utm_term=0_8ad2dd2e5c-7b597b9b26-328907381">LRT Capital</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/6009bb1b2d18d542ead573a2/1611250465556/2020.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_c4c58da3cf8940a2a507e31c7543f084.pdf">Merion Road Capital</a></td><td width="10%">1/12/2021</td><td width="40%">$PINS, $FCPT, $FERGY, $MHH, $RMCF, $LNSR</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=3050">Miller/Howard Investments</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1igQ64JuZiJ7IEQllP0u3RyQBJ3_uPJTg/view">MPE Capital</a></td><td width="10%">1/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_01_13.pdf">Myrmikan Research</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.nzscapital.com/news/nzs-capital-q4-2020-update">NZS Capital</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2020/">Oakmark Fund</a></td><td width="10%">1/11/2021</td><td width="40%">$FISV, $KKR</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2020/">Oakmark Select Fund</a></td><td width="10%">1/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2020/">Oakmark Global Fund</a></td><td width="10%">1/11/2021</td><td width="40%">$NVS, $KDP, $LYV, $PINS</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2020/">Oakmark Global Select Fund</a></td><td width="10%">1/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d433d06abf354a039039af0d4933c5f8.pdf">Old West Capital Management</a></td><td width="10%">1/11/2021</td><td width="40%">$WLDBF.</td></tr>
<tr><td width="50%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_84c55e774aac418fa065fb61206be3c1.pdf">Palm Valley Capital Fund</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2020.pdf">Polen Capital - Focus Growth</a></td><td width="10%">1/22/2021</td><td width="40%">$ILMN, $CRM.</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2020.pdf">Polen Capital - Global Growth</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2020.pdf">Polen Capital - International Growth</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/momentum-is-with-value/">Pzena Investment Management</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/e5a21f93-8c76-431c-8ddd-63c0efe24514/December_2020_Investor_Letter_Blind_Spots_vFinal.pdf">Richie Capital Group</a></td><td width="10%">1/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q20_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">1/14/2021</td><td width="40%">$SNAP, $PINS, $BX, $UBER, $EXAS, $LMT, $DXCM.</td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_4Q20_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rvcapital.ch/post/rv-capital-s-2020-letter-to-co-investors-in-the-business-owner-fund?utm_campaign=35210720-6fbf-42de-a744-9fd46d8f3f4e&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="10%">1/15/2021</td><td width="40%">$WORK</td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_dbd7c0662df04a51889bfc17d810d421.pdf">Spree Capital</a></td><td width="10%">1/18/2021</td><td width="40%">$CDLX, $UPWK.</td></tr>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/01/STJ-Adviser-Letter-2020-Q4.pdf">St. James Investment Company </a></td><td width="10%">1/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/51948ad1-0c35-4453-9e43-36915ae8cfec/Steel_City_Capital_4Q_20_Partner_Letter.pdf">Steel City Capital</a></td><td width="10%">1/25/2021</td><td width="40%">$LSYN, $ATEX, $EBAY, $TRUP, $WDFC</td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/2020-Annual-Investor-Letter-.pdf">Summers Value Fund</a></td><td width="10%">1/21/2021</td><td width="40%">$BASI, $ELMD, $MODV</td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/01/20/investor-letter-2020-q4/">Tao Value</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%">$FNMA, $AMH</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%">$LAZ, $SVNDY.</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/600031ce75feee1e320a0c37/1610625487864/Upslope+-+2020Q4+Letter.pdf">Upslope Capital Management</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_63_en.pdf">Vltava Fund</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/01/VVP-Annual-Letter-20.12.31.pdf">Vulcan Value Partners</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_e0367d900f594418b9f80f5332a78da3.pdf">Wedgewood Partners</a></td><td width="10%">1/13/2021</td><td width="40%">$PGR, $SPGI, $TSCI</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637472989640000000">Weitz Hickory Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637472989640000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637472989640000000">Weitz Partners Value Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637472989640000000">Weitz Value Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/4q2020-commentary">Whitebrook Capital</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q4-2020-Review_Final_Approved.pdf">Horizon Kinetics</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-4Q20-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-4Q20-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hardingloevner.com/strategies/international-small-companies-equity/">Harding Loevner International Small Companies Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hardingloevner.com/strategies/global-small-companies-equity/">Harding Loevner Global Small Companies</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q4-2020/">Crestcat Capital</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2020.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2020.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/fourth-quarter-2020-investment-update/?__hstc=3281263.805dd8f22d7941cbc2e047cb71a92ba5.1612067828585.1612067828585.1612067828585.1&__hssc=3281263.13.1612067818999&__hsfp=3642198382">Ensemble Fund</a></td><td width="10%">1/30/2021</td><td width="40%">$RACE, $NVR</td></tr>
</tbody>
</table>
<br /></div><div><br /></div><div><br /></div><div><br /></div><div><span style="font-size: x-large;">3rd Quarter 2020</span></div><div><span style="font-size: x-large;"><br /></span></div><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f91d68ffcf5365a608ae79b/1603393167269/Q3%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($LMB)</li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($PENN, $ZM, $DKNG, $VAPO, $MIDD, $VERX)</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($NTRA, $CYRX, $VEEV, $AYX, $EHTH, $PRO).</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://p.weebly.com/14123551/0e14046f58/acml_2020_q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f9c71c178bf29569ce3e73c/1604088257626/Q3+2020+Alta+Fox+Capital+Quarterly+Letter+-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT)</li><li><a href="https://drive.google.com/file/d/16Z5Ah7ylRfTNtv7_89hvySNkLBs94ymo/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://andvariassociates.com/q3-letter-repeatable-process-and-concentration" target="_blank">Andvari Associates</a> -($GLIBA, $LBRDA, $CSGP, $TYL)</li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/08/APPLX-Q2-2020-Letter-.pdf" target="_blank">Appleseed Fund</a></li><li><a href="https://mailchi.mp/d5669ebd0777/argosy-investors-3q20-letter-5089533" target="_blank">Argosy Investors</a> - ($TIG, $TAP, $XPO, $HEI, $CIGI).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BAP, $FLIR, $NOV, $MTN).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abb0e242-eb67-40d1-883b-ecdfa6b22d71/Arquitos_Investor_Letter_Q3_2020.pdf" target="_blank">Arquitos Capital</a></li><li><a href="https://arisaig.com/wp-content/uploads/2020/10/Arisaig-Quarterly-October-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/3q/APFDX-APDDX-APHDX-QCommentary-3Q20-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTKX-APDKX-MCommentary-0920-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTMX-APDMX-MCommentary-0920-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTSX-APDSX-MCommentary-0920-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTLX-APDLX-MCommentary-0920-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-3q-2020-partner-letter-XOMTVzxR" target="_blank">Artko Capital</a> - ($NTIC, $PBPB, $FTK)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-9.30.20.pdf" target="_blank">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-9.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($PRPL, $VITL, $PACB, $BLI, $AFIB, $MEG, $AEIS).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron FinTech Fund</a> - ($SQ, $NVEI.TO).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-9.30.20.pdf" target="_blank">Baron Growth Fund</a> - ($AMWL).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-9.30.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-9.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-9.30.20_1.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_9_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($SSTK, INOV, $WSC, $EPAY, $SP, $CSOD)</li><li><a href="https://s3.amazonaws.com/bireme/3Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AAADKn6HMQN3RcB_NnJSPUsRa/Black%20Bear%20Value%20Partners%20Q3%202020.pdf?dl=0" target="_blank">Black Bear Value Partners</a> - ($AWI, $AN, $BRK.B, $PSX, $TPL)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f84061d553af93162d867d1/1602487838468/2020+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($BERY)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f90958a0514cc4e0f71e119/1603310986504/Bonsai+Partners+Q3+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($RDBBF, $PHPYF, $MU, $GNSS, $TSM).</li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202009.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf3q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a> - ($CRL, $BFAM, $JKHY, $RP)</li><li><a href="https://browncapital.com/system/files/scf3q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($IRTC, $VEEV, $AYX, $PRO)</li><li><a href="https://browncapital.com/system/files/ief3q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf3q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://drive.google.com/file/d/1a76lPrhT-7Z1kFGOwh1f_w90IPJiAnNE/view" target="_blank">Cartenna Capital</a> - ($FDX, $LAD, $LEA)</li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f85eb7289085d67fca99c88/1602612084148/Q3+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:7abf9ad9-f7fe-4977-813d-f110bc6cd463#pageNum=1" target="_blank">Choice Equities Fund</a> - ($APPS, $PINS, $MGNI, $SIC).</li><li><a href="https://cedcapital.in/wp-content/uploads/2020/10/Quarterly-PMS-Letter-Sep20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5f761584c70e806b3d25af69/1601574277212/Q32020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Hedged)</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Unhedged)</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q3-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5f8770933c746c06627c78af/1602711699235/Q3+2020+Letter.pdf" target="_blank">Curreen Capital</a> - ($CNDT).</li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5fb1cf491cc5cc6622c8d927/1605488457151/Del+Principe+O%27Brien+October+2020+Letter+pdf.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a> - ($BRK.B, $ROP, $DHR, $MC, $ICE)</li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/2eca2e7c-b182-4c14-8b24-b57b0eb9b1e1/2020_Q3_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/10/Q3-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://dmzpartners.in/Documents/Files/DMZ-2103-2Q20-21-Redacted.pdf" target="_blank">DMZ Partners</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/10/DKAM-ROE-Reporter-October-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2020/" target="_blank">Ensemble Fund</a> - ($CMG, $ISRG. $NVR, $BR, $FRC, $NVR).</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/10/16105449/Client-Letter-Q3-2020-FINAL.pdf" target="_blank">Ewing Morris</a> - ($KAI)</li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200930.pdf" target="_blank">FMI All Cap Equity</a> - ($CMCSA, $DLTR).</li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200930.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200930.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200930.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-q3.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NCR, $AGCO, $CNOM, $CNC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q3-final-w-disclosures-and-holdings.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q3%20Commentary/2020.Q3%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f9c6af71e0c5e77d38dbda4/1604086519425/Greenhaven+Road+Letter+%282020+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $KKR, $APPS, $ESTC, $ROKU, $AEYE, $APG, $NLS, $BNED)</li><li><a href="https://www.valuewalk.com/wp-content/uploads/2020/10/Qlet2020-03-1.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.11.01-Q3-Letter-v2.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/11/Greystone-Capital-Q3-2020-Letter.pdf" target="_blank">Greystone Capital Management</a> - ($RICK, $RMNI, $CRAWA, $RSSS, $PW)</li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-3Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-3Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-3Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-3Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q3.pdf" target="_blank">Hayden Capital</a> - ($AFTPF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($HLT, $SPB, $FE, $MHK)</li><li><a href="https://www.heartlandadvisors.com/Products/Strategies/Heartland-Opportunistic-Value-Equity-Strategy/Heartland-Opportunistic-Value-Equity-Strategy-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Opportunistic Value Fund</a> - ($HLT, $CSCO, $BRK.B)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TSC, $OESX ,$PLAB)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SPB, $FCFS, $RL)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q3NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($TPL)</li><li><a href="https://l1international.com/wp-content/uploads/2020/10/09_2020_International_Fund_Quarterly_Report.pdf" target="_blank">L1 International Capital Fund</a></li><li><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2020.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f8c75b4bdc0fc164f836caf/1603040693094/Laughing+Water+Capital+Q3%2720.pdf" target="_blank">Laughing Water Capital</a> - ($USAT, $FREE)</li><li><a href="https://southeasternasset.com/commentary/3q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/10/2020-09-September-Performance-Update-Public.pdf" target="_blank">LRT Capital</a></li><li><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_1bf005a3950242f48eeff54c938130ed.pdf" target="_blank">Luca Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($HON)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0" target="_blank">Madison Investors Fund</a> - ($FB)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0" target="_blank">Madison Mid Cap Fund</a> - ($ANET)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5fa85397ef83d42c47c6bbad/1604866968719/Maran+Partners+Fund+LP+2020+3Q+Letter.pdf" target="_blank">Maran Capital Management</a> - ($FREE, $PCYO, $CLAR)</li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5f91f70b872be4229ca34d82/1603401483222/2020.Q3+Massif+Investor+Client+Letter.pdf" target="_blank">Massif Capital</a></li><li><a href="https://www.mawer.com/learn/mawer-quarterly/third-quarter-2020/" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://www.mclaincap.com/letters" target="_blank">McLain Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_ff943467174a4a2fbef2fb129e71359a.pdf" target="_blank">Merion Road Capital</a> - ($FERGY, $TUESQ)</li><li><a href="https://www.mhinvest.com/download.html?docId=3036" target="_blank">Miller/Howard Investments</a></li><li><a href="https://millervalue.com/deep-value-strategy-3q20-letter/" target="_blank">Miller Value - Deep Value Strategies</a> - ($NBR, $BBBY, $GME, $SIG, $PBI, $ATCO)</li><li><a href="https://millervalue.com/opportunity-equity-3q20-letter/" target="_blank">Miller Value - Opportunity Equity</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a></li><li><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2020_10_13.pdf" target="_blank">Myrmikan Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/10/2020Q3.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($QDEL).</li><li><a href="https://drive.google.com/file/d/1wavRmQCrmYZ0Xr91X-0o7wfgS-oaE48W/view" target="_blank">Nomadic Value</a> - ($UNH, $OHS, $IPOC).</li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2020/" target="_blank">Oakmark Fund</a> - ($CBRE, $KDP)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_16ebf57ec73a4bd8957c37c5ed02890b.pdf" target="_blank">Old West Investment Management</a> - ($LEU)</li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_ebd5d2ddc5a04d9b8a657a03a5115b1f.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($UNH, $ISRG, $CRM, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.rgaia.com/wp-content/uploads/2020/11/Q3-2020-Investment-Commentary-Ignition.pdf" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/0c3c2277-336b-4b40-957b-97b4df6c3b1b/Rhizome_Partners_Q3_2020_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q20.pdf" target="_blank">RiverPark Large Growth</a> - ($PINS, $AAPL, $AMZN, $EXAS, $ISRG, $ILMN, $AMT, $ADSK)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_3Q20.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/11/2020-Q3-Newsletter.pdf" target="_blank">Rowan Street Capital</a> - ($BABA)</li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sustainable-Q3-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Amana-Q3-2020-web.pdf" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sextant-Q3-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://drive.google.com/file/d/1A0s8GKvMy-_xUHbzxDSaN0AEjmwSg_f6/view" target="_blank">Selcouth Capital Management</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=459a37f7-5751-4cfe-9518-f3a1538c959e&Name=Q3_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/ba603bd1-d159-48eb-8ad5-d291db00375b/SilverRingValuePartners_2020Q3_Letter.pdf" target="_blank">Silver Ring Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_706aab945eef4b7088fcb7ee7409a296.pdf" target="_blank">Spree Capital</a> - ($IAC, $ANGI, $PINS)</li><li><a href="https://stjic.com/wp-content/uploads/2020/09/STJIC-Adviser-Letter-2020-Q3.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/13ac1227-dad0-4f2e-9abf-49860419ff60/Steel_City_Capital_3Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a> - ($LSYN, $ATEX. $SATS, $EBAY, $TCP, $TRUP, $HBI, $OLLI)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $ELMD, $PRSC, $ASRT)</li><li><a href="https://taovalue.files.wordpress.com/2020/10/taovalue_2020_q3_final.pdf" target="_blank">Tao Value</a> - ($BEKE, $WORK, $API)</li><li><a href="https://drive.google.com/file/d/1Utxz55Fm5B66CLNOoTYUOktAfFEX5jgq/view" target="_blank">Tidefall Capital Management</a> - ($FB, $NFLX, $MTCH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAREX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FNMA, $CBRE, $AMH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TASCX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($HBB)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAVFX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://thirdpointlimited.com/wp-content/uploads/2020/10/Third-Point-Q3-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AABLnwQSozTE3JKv2sad6Z9fa?dl=0&preview=Tollymore+Q3+2020.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRUP, $FTCH).</li><li><a href="https://www.turtlecreek.ca/wp-content/uploads/2020/10/Turtle-Creek-Quarterly-Commentary-2020-Q3.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202020%20-%20FINAL.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f871d84732ab26ee19d4081/1602690437395/Upslope+-+2020Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($BFAM)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_62_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/10/VVP-Quarterly-Letter-20.09.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f46984994bc44abab0fa9d012fa35da.pdf" target="_blank">Wedgewood Partners</a> - ($FRC, $NVDA, $V, $PYPL)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/3q2020-commentary" target="_blank">White Brook Capital</a> - ($GOOG, $GT)</li><li><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Q3%20Letter%20-%20Worm%20Capital%20-%20October%202020.pdf?utm_medium=email&_hsmi=96979337&_hsenc=p2ANqtz-9c8-1QN7remFXHTROTOZTyb6aD5SohUf2rFfwP8peAv3-Z1XJlW5WJvb4sn6epTXlR7KXK61iVzvAd7ZtR3HHcWBQZvQ&utm_content=96979337&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><span style="font-size: x-large;">2nd Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f1646c5f488c44459f92f6f/1595295430480/Q2%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($HBI)</li><li><a href="https://www.adestella.com/wp-content/uploads/2020/08/Q2-2020-Investor-Letter.pdf" target="_blank">Adestella Investment Management</a> - (WSE:LVC)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/07/Akre-Focus-Fund-Quarterly-Commentary-2020-Q2.pdf" target="_blank">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($QDEL, $DKNG, $MKTX, $INGN, $XPO, $HLIO).</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus</a></li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/07/Alluvial-Capital-Management-Q2-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $LICT, $NUVR, $RWWI, $CRAWA, $PII, $MMAC, $BUKS, $MHGU)</li><li><a href="https://p.weebly.com/14123551/8d9576d761/ACML_2020_Q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f21cdd21a3a007c9039d884/1596050899234/Q2+2020+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT, $NLAB)</li><li><a href="https://drive.google.com/file/d/1tOgr8EbBQL-DFcyuEIteClKQnktt-ioR/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/05/Q1-2020-applx-semi-annual-letter-updated-v2.pdf" target="_blank">Appleseed Fund</a> - ($TPIC).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($JLL, $MSGE, $SWK).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/06/Arisaig-Quarterly-July-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTIX-APDIX-APHIX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTMX-APDMX-APHMX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($PTON, $CHGG, $IEX, $LSCC, $BURL, $ASND).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTSX-APDSX-APHSX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-2q-2020-partner-letter-XzMTMQrb" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/08/2020-08-10-Askeladden-Capital-Q2-2020-Letter-Unkind.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://mcusercontent.com/1299c2986ac5b8b808d25e3db/files/3a2f5125-2747-4c36-90e0-cb882c13bfc0/Avory_Quarterly_Letter_2020_Q3.pdf" target="_blank">Avory&Company</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.20.pdf" target="_blank">Baron Asset Fund</a> - ($ZI)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-6.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($AAT, $CAKE, $FOUR, $AEIS, $CYRX, $NARI).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.20.pdf" target="_blank">Baron Health Care Fund</a> - ($SWAV, $IMMU, $CYRX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-6.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-6.30.30.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.20_0.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-6.30.20.pdf" target="_blank">Baron Small Cap Fund</a> - ($CCH, $AXNX, $KTOS, $AZEK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_6_30_bca_scv_marketcomm_final.pdf?utm_source=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CRNC, $CTLT, $EPAY, $PLOW, $SP, $BV, $SPSC, $TWNK)</li><li><a href="https://bluehawkinvestors.com/q2-2020-investor-letter/" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $EA, $SPLK, $STZ).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f1561892a4010553ea9a4fc/1595236745929/2020+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/c68a1a6b-f4ef-4fa0-a118-538e1f21755d/081020_Bonhoeffer_Partner_Letter_Q2_2020.pdf" target="_blank">Bonhoeffer Fund</a> - ($AM)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f0e14ec768fd51a428a531a/1594758381666/Bonsai+Partners+Q2+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($LKQ, $GNSS, $TSM, $PHPYF)</li><li><a href="https://www.boyarvaluegroup.com/wp-content/uploads/2020/07/2Q_2020_BVGLETTER.pdf" target="_blank">Boyar Group</a></li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202006.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf2q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf2q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/ief2q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f179f71130d4a67c0b7cc14/1595383665773/Q2+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2020/07/2020-Q2-CEF-Investor-Letter-2.pdf" target="_blank">Choice Equities Fund</a> - ($CELH, $APPS, $PINS, $CTRN, $TAST).</li><li><a href="http://choufunds.com/pdf/SEMI-AR%202020%20%28English%29.pdf" target="_blank">Chou Funds</a></li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2020+Q2+Letter.pdf" target="_blank">Coho Capital</a> - ($SPOT)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5efce03ba58d546e2e0f9e2b/1593630780199/Q22020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q2-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://www.docdroid.net/bFfeMjX/david-capital-partners-llc-letter-on-covid-19-2020-q2-pdf" target="_blank">David Capital Partners</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a> - ($COF, $BK).</li><li><a href="https://davisfunds.com/downloads/DGFPMComm.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFPMComm.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5efb340b8974eb3c8fb597aa/1593521163499/Del+Principe+O%27Brien+June+2020+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/fee3146b-2929-4ef2-a438-b026f217bccb/2020_Q2_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://dfdent.com/wp-content/uploads/2020/09/DF-Dent-063020-Annual-Report-FINAL-updated-3.pdf" target="_blank">DF Dent</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200630_Diamond-Hill_Small-Cap-Fund-Commentary-1.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/07/Q2-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/08/DKAM-ROE-Reporter-July-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_c1778ec658b04174856e4169cb505c0c.pdf" target="_blank">Emeth Value Capital</a> - ($BSM)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2020/" target="_blank">Ensemble Fund</a> - ($MASI, $NFLX)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_0.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200630.pdf" target="_blank">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200630.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200630.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200630.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://foragerfunds.com/wp-content/uploads/2020/07/Quarterly-Report_June-2020.pdf" target="_blank">Forager Fund</a> - ($CELH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-06.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q2.pdf?sfvrsn=14" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5f078ab33b43a56a3eb3feae/1594329782036/GCAM+Q2+2020+letter.pdf" target="_blank">Giverny Capital Asset Management</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q2%20Commentary/2020.02%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f1ce3f5ffc2762dc1e36675/1595728886611/Greenhaven+Road+Letter+%282020+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($GOGO, $LE, $IAC, $APPS, $KKR, $ESTC, $PAR)</li><li><a href="https://www.docdroid.net/8aEd6Ge/greenlight-2q20-letter-pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.08.18-Q2-2020-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/07/Greystone-Capital-Letter-H1-2020.pdf" target="_blank">Greystone Capital Management</a> - ($HIL, $RICK, $APG, $TRRVF, $MIXT</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/GE-2Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/IE-2Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-2Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-2Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q2.pdf" target="_blank">Hayden Capital</a> - ($AMZN, $SE)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($AAP, $RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($CNI, RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($MDC, $PLAB, $NFG)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SAH, $CCRN, $PCH)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q2NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Quarterly-Commentary_Q2-2020.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q20.pdf" target="_blank">Horos Asset Management</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/07/2020-Half-Year-JDP-Capital.pdf" target="_blank">JDP Capital</a></li><li><a href="http://investors.l1longshort.com/DownloadFile.axd?file=/Report/ComNews/20200720/02256558.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://l1international.com/wp-content/uploads/2020/07/06-2020-International-Fund-Quarterly-Report.pdf" target="_blank">L1 International Capital Fund</a> <a href="https://www.lrtcapital.com/wp-content/uploads/2020/07/2020-06-June-Performance-Update-Public.pdf" target="_blank">Capital</a></li><li><a href="https://www.docdroid.net/2ExPtjh/lakewood-capital-2020-q2-letter-pdf" target="_blank">Lakewood Capital Management</a> - ($HDS, $NSP, $ATH, $BLDP, $SLP, $SRNE)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f19a4d1e0b9f47a7f5974aa/1595516114278/Laughing+Water+Capital+1H%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/nlml7il3uj1purr/Lightsail%202Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($MMM)</li><li><a href="http://madison%20mid%20cap%20fund/" target="_blank">Madison Investors Fund</a> - ($MMC)</li><li><a href="http://madison%20investors%20fund%20-%20%28%24mmc%29/" target="_blank">Madison Mid Cap Fund</a> - ($IT, $LH, $MC).</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://www.docdroid.net/FGa8ior/maran-partners-fund-lp-2020-q2-letter1582-pdf" target="_blank">Maran Capital Management</a> - ($IAC)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2020/09/MVIP-Strategic-Growth-Commentary-2Q-2020.pdf" target="_blank">Mar Vista Investment Partners</a> - ($APH)</li><li><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202nd%20Quarter%20Letter%20to%20Investors.pdf?utm_medium=email&_hsmi=91107066&_hsenc=p2ANqtz-9LijGwDjSgj8jyqCenBnIBF47dmzsWi3IMjSFYI4FdU7JJBgy3y9ZYV2Hb0dIgRDoabuG10U1l5XThj0OJNeKKIwi9SQ&utm_content=91107066&utm_source=hs_email" target="_blank">Massif Capital</a> - ($HES, $RUN, $GOLD).</li><li><a href="https://www.mawer.com/assets/Newsletters/2Q20-Quarterly-Series-A-Net.pdf" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_aa805187f361412fa7b16ed0918e00e2.pdf" target="_blank">Merion Road Capital</a> - ($TRNS)</li><li><a href="https://millervalue.com/deep-value-strategy-2q20-letter/">Miller Value Fund</a> - ($BBBY, $NBR, $TMHC, $DXC).</li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q2_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a> - ($CRMLF, $CAR, $CCL, $REV, $CPXGF, $AZTEF)</li><li><a href="https://drive.google.com/file/d/1EY3GUJZn0WVXSuQy17mk1W5FYdOqL2Ry/view" target="_blank">MPE Capital</a> - ($WIX, $BRBOF).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/07/2020Q2.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($DOCU).</li><li><a href="https://drive.google.com/file/d/1vccfEmwX4ulExfEIrOE1IOB6uKeMU6QW/view" target="_blank">Nomadic Value Investment Partners</a></li><li><a href="https://www.nzscapital.com/s/NZS-Capital-Q2-2020-Letter.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2020/" target="_blank">Oakmark Fund</a> - ($RGA, $GD, $TMUS)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_a30dcf83719d44bba64d3b6e9f3f4345.pdf" target="_blank">Old West Investment Management</a> - ($FLGT).</li><li><a href="https://www.docdroid.net/bg0gNdv/pabrai-funds-q2-2020-pdf#page=7" target="_blank">Pabrai Funds</a></li><li><a href="https://www.palmvalleycapital.com/fundletter" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growt</a>h</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5f3b4cb88ea6a1347c012598/1597721787995/RF+Capital+Q2+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://www.rgaia.com/q22020-investment-commentary-the-tale-of-two-markets/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/67acd636-2e8e-4ba4-b038-d2c2d5805461/Rhizome_Partners_Q2_2020_Investor_Letter_Final.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q20.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($SNAP, $SHOP, $BILL, $AMZN, $TWLO, $CME, $IQV, $ZTS, $APO, $KKR, $MTN).</li><li><a href="http://riverpark%20large%20growth%20fund%20-%20%28%24snap%2C%20%24pins%2C%20%24uber%2C%20%24shop%2C%20%24bill%2C%20%24dxcm%2C%20%24rng%2C%20%24lmt%29.%20riverpark%20long/Short%20Opportunity%20Fund" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_2Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($BKNG, $BMT, $FB, $FLT)</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/08/Near-Term-Delusions-Long-Term-Collisions.pdf" target="_blank">RLT Capital</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan_Street_Capital_First_Half_2020_Letter.pdf" target="_blank">Rowan Street Capital</a> - ($SPOT)</li><li><a href="https://www.rvcapital.ch/post/co-investor-letter-h1-2020?cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6&utm_campaign=cadf75be-7334-4451-a092-5873c7ac02ac&utm_medium=mail&utm_source=so" target="_blank">RV Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c6eb517f46b24b9d8e9aad440f79ee19.pdf" target="_blank">Saga Partners</a></li><li><a href="https://www.saltlight.co.za/wp-content/uploads/2020/08/SaltLIght-2Q20-Letter-Final.pdf" target="_blank">SaltLight Capital</a> - ($COH.JO, CTK.JO)</li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ce3ae7fe-7fcc-4291-979b-4d30eb11a66a&Name=Q2_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="http://saturna%20capital%20saturna%20capital%20-%20amanafunds%20saturna%20capital%20-%20sextant%20funds/" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/b301205c-52a7-4f24-883c-1f3580537837/SilverRingValuePartners_2020Q2_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_7c247397881f467d9360d21885e78fb4.pdf" target="_blank">Spree Capital</a> - ($STNE, $WIX).</li><li><a href="https://srk-capital.com/content_files/2020/09/SRK-Fund-Q2-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/07/STJIC-Adviser-Letter-2020-Q2-Final.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $BSTC)</li><li><a href="https://taovalue.files.wordpress.com/2020/07/taovalue_2020_q2_final.pdf" target="_blank">Tao Value</a> - ($PDD, $YY, $AVLR, $CIH)</li><li><a href="https://langfrist.de/dokumente/H1_2020_E_Partners_Fund.pdf" target="_blank">TGV Partners Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAREX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TASCX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($WASH, $CKH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAVFX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Value Fund</a> - ($BKRIF, $IFSPF, $LUNMF, $CSFFF).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/08/Third-Point-Q2-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a> - ($BABA, $JD, $AMZN, $DIS, $PUK, $SPGI)</li><li><a href="https://drive.google.com/file/d/1nfnh_0ZD0IGbaB52zeQHGM4ESJTKJ5fQ/view" target="_blank">Tidefall Capital Management</a></li><li><a href="https://www.dropbox.com/sh/bkvnxsr7u27twgu/AABMPqyMuEORLDm6WSyqF7dla/Tollymore%20Q2%202020.pdf?dl=0" target="_blank">Tollymore Investment Partners</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q2.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202020%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f0dd29b6a8632767c30911b/1594741405126/Upslope+-+2020Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($RBA)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_61_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/07/VVP-Quarterly-Letter-20.06.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_a12f91a6fbfb4131afc3d1d848b4ae84.pdf" target="_blank">Wedgewood Partners</a> - ($AAPL, $BKNG, $BMY, $FB, $FLT)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Hickory Fund</a> - ($DLB)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/2q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5f0874ba8817e8400a707586/1594389693251/Quarterly+Letter+-+Q2+2020.pdf?utm_medium=email&_hsmi=91143433&_hsenc=p2ANqtz-8Ko2sOTz4bmQKkH-p3YIfULcolG5rwew-9bA1O9V_uN53WPygN_Q0fFs4scHhjzt3id6F-RguAoCQJ0AJnhDfYRrOHHA&utm_content=91143433&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">1st Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5eb05bb94b525e14b5bea7bc/1588616121738/Q1%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($GMS)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/04/Akre-Focus-Fund-Quarterly-Commentary-2020-Q1.pdf">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($EVBG, $EHTH, $QDEL, $CMD, $HSKA, $TCMD)</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a> - ($AMZN, $NVDA, $NFLX, $CBOE, $FB, $APPL, $V, $MDB).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/04/Alluvial-Capital-Management-Q1-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2020-q1.pdf">Alphyn Capital Management</a> - ($EXXRF, $BAM, $KKR, $BRFRF, $WANSF, $CDAY, $CFX, $OSSIF).</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5eab8f05c455f14a97fbcb32/1588301573873/Q1+2020+Alta+Fox+Capital+Quarterly+Letter-+Final+%281%29.pdf" target="_blank">Alta Fox Capital Management</a> - ($MMMB, $EVVTY, $GMMNF)</li><li><a href="https://drive.google.com/file/d/1y1uNGXNScAjx27rcd6yZf_U6GFWLtmVd/view">Andaz Private Investments</a></li><li><a href="https://ift.tt/2za22cd">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2020/02/APPLX-Q4-2019-Letter.pdf">Appleseed Fund</a> - ($HRTX, $NLY).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/45aea71a-f4d5-4f4b-98c2-44acc7934978/Arquitos_Investor_Letter_Q1_2020.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $SYTE, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($KMT, $NVST, $PGR).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/04/Arisaig-Quarterly-April-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTKX-APDKX-APHKX-QCommentary-1Q20-vR.pdf">Artisan International Value Fund</a> - ($BABA, $TCOM, $SLB, $TS, $SU, $SNE, $DANOY, $CNHI).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTMX-APDMX-APHMX-QCommentary-1Q20-vR.pdf">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTSX-APDSX-APHSX-QCommentary-1Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2020-partner-letter-X7QTZR97" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/04/Coronavirus-The-Cure-Is-Worse-Than-The-Disease.pdf">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.20.pdf">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.20.pdf" target="_blank">Baron Discovery Fund</a> - ($INGN, $QLYS, $FND, $SIEN, $PAR, $TXMD, $EVBG, $KTOS, $PENN, $AXNX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.30_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.2020.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.20.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_3_31_bca_scv_marketcomm_final.pdf" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $MEDP, $SP, $CNK, $PLOW, $CRNC, $TREE, $SERV).</li><li><a href="https://s3.amazonaws.com/bireme/1Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $BKNG, $WFC, $RICK, $KRG)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/04/Investor-Letter-Q1-20-FINAL.pdf">Blue Hawk Investment Group</a> - ($MSFT, $MTCH, $NFLX, $EA, $INTU, $ISRG, $V, $FB, $CHTR, $FND, $STZ, $NYT, $SPLK, $LULU).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e93edd2125a911e469ed339/1586752979541/2020+Q1.pdf">Blue Tower Asset Management</a></li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/762bb2f1-3530-4df8-9178-1acf0c0568f6/0520_Bonhoeffer_Partner_Letter_Q1_2020.pdf" target="_blank">Bonhoeffer Fund</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4595129/1Q_2020_BVG%20Letter.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=87095134&_hsenc=p2ANqtz-8G6GJm2tQ-xl7UIJ2SOoumqTKP4AhC-pkmfW5viIuwNsaxl8CcHOkHkKE0NZfnwUAC6TZZuSUzpyAM76WVz55zUySpCQ&_hsmi=87095134" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf1q20commentary.pdf">Brown Capital Management Mid Company Fund</a> - ($DXCM, $SHOP, $NCLH, $BFAM, $TDOC)</li><li><a href="https://browncapital.com/system/files/scf1q20commentary.pdf">Brown Capital Management Small Company Fund</a> - ($QDEL, $VEEV, $MANH, $PRO, $PLAN, $DDOG, $KIDS, $INCY).</li><li><a href="https://browncapital.com/system/files/ief1q20commentary.pdf">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q20commentary.pdf">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/04/Broyhill-Portfolio-Update-2020.Q1-FINAL.pdf" target="_blank">Broyhill Asset Management</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://cedcapital.in/wp-content/uploads/2020/04/Quarterly-PMS-Letter-Mar20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e85354c10a8a95136c22668/1585788237400/Q12020.pdf">Comus Investments</a></li><li><a href="https://www.crescat.net/wp-content/uploads/Q1-2020.pdf" target="_blank">Crestcat Capital</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/ecf4cd6f-3eb2-4b0c-8efb-1f9d281cfd7f/2020_Q1_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200331_Diamond-Hill_Small-Cap-Fund-Commentary.pdf">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/dcp_1q20_update" target="_blank">Distillate Capital</a></li><li>D<a href="https://mcusercontent.com/90031b83688dd5c83d79fcf31/files/a3202ae7-9dca-471c-94ed-340f07250b85/DKAM_ROE_Reporter_April_2020_.pdf" target="_blank">onville Kent Asset Management</a></li><li><a href="https://www.docdroid.net/kfBxxVh/elliot-letter-april-162020-perspectives-paul-singer-elliott-pdf#page=9">Elliot Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2020/" target="_blank">Ensemble Fund</a></li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2020.pdf">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/04/16115847/Client-Letter-Q1-2020_FINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://ift.tt/2VWR7dz" target="_blank">Firebird Management</a></li><li><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_Gold-Update.pdf" target="_blank">First Eagle Global Fund</a></li><li><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200331.pdf">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200331.pdf">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200331.pdf">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200331.pdf">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-03_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NBL, $VNOM, $ISBC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-update-q1-2020.pdf?sfvrsn=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/2020-3-fef-letter-to-shareholders.pdf?sfvrsn=12">Fundsmith Equity Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5e8f6c4e02b8fa04bead5904/1586457686283/GCAM+initial+letter+2020-03-27.pdf" target="_blank">Giverny Capital Asset Management</a> - ($GOOG, $GOOGL, $KMX, $BRK.B, $PGR, $SCHW, $SSNC, $HEI, $MKL, $ANET)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ea425773459dd34b66cf263/1587815799646/Greenhaven+Road+Letter+%282020+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($SHSP, $APPS, $KKR, $PAR, $KLR, $CSSE, $OPT)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.05.10-Confessions-v3.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4043042/Commentaries/2020.Q1%20Commentary/2020.Q1%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-1Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-1Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q1.pdf" target="_blank">Hayden Capital</a> - ($IBKR, $CVNA)</li><li><a href="http://m.heartlandadvisors.com/mid-cap-value-fund-q1-commentary.pdf" target="_blank">Heartland Mid Cap Value Fund</a> - ($WU, $PXD, $AAP)</li><li><a href="http://m.heartlandadvisors.com/select-value-fund-q1-commentary.pdf" target="_blank">Heartland Select Value Fund</a> - ($GRC, $CALM, $JNJ)</li><li><a href="http://m.heartlandadvisors.com/value-fund-q1-commentary.pdf" target="_blank">Heartland Value Fund</a> - ($MDU, $MDC,$EVTC)</li><li><a href="http://m.heartlandadvisors.com/value-plus-fund-q1-commentary.pdf" target="_blank">Heartland Value Plus Fund</a> - ($IDCC, $HTLD)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q1NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2020-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($BA, $ADM, $CRL, $ICE, $BTC).</li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q20.pdf" target="_blank">Horos Asset Management</a> - ($TGP, $TK, $GLNG, $AER, $NPSNY).</li><li><a href="https://www.dropbox.com/s/nqwe7xcvwjfxysy/Huffman%20Prairie%20-%201Q2020%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/02/2019-Annual-Letter-JDP-Capital-Management.pdf">JDP Capital</a> - ($SPOT, $STNE, $XPO)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5ea5f560592a27104f5c8cf0/1587934561140/Laughing+Water+Capital+Q1%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/ofrydh35bl0xctw/Lightsail%201Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/ltglobal-equity-fund/LTGEF_Latest.pdf">Lindsell Train</a>- ($WWE, $DIS, $DEO, $BF.A, $EBAY, $PYPL, $INTU)</li><li><a href="https://southeasternasset.com/commentary/1q20-llpf-commentary/">Longleaf Partners Fund</a> - ($H, $DD, $CTL, $CNHI, $PK, $CKHUY, $MAT).</li><li><a href="https://southeasternasset.com/commentary/1q20-llgl-commentary/">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llin-commentary/">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/04/2020-03-March-Performance-Update-Public.pdf">LRT Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a> - ($CSL).</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5ea1a3fb6d7e355e7a72a301/1587651580748/Maran+Partners+Fund+LP+2020+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20First%20Quarter%20Letter%20to%20Investors.pdf?utm_source=hs_email&utm_medium=email&utm_content=86138479&_hsenc=p2ANqtz-85M_ZqQO42g6PDwSL7bISxrDZM6OIQj5JzJ9uWzZx5Pf0pU87NtPhlX2MKkKLQ0F5775rJ5yF6-0W92JiA-wFdmFYs5g&_hsmi=86138479">Massif Capital</a></li><li><a href="https://www.mawer.com/assets/Newsletters/1Q20-Quarterly-Series-A-Net-1.pdf">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_b57612e6cdaa48429a600bdfe37560c4.pdf">Merion Road Capital</a> - ($CPRT, $EVBG, $RMCF)</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2020_03.pdf">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2020_03.pdf">Moneta MultiCaps C</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/04/2020Q1.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($GSK)</li><li><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2020/">Oakmark Fund</a> - ($AXP, $MTCH, $PINS, $WDAY)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2020/">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2020/">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d588a8b5d90047478bfcd71d0c8dd0a1.pdf">Old West Investment Management</a></li><li><a href="https://drive.google.com/file/d/1tD5XOGaM8cls4v95DSXFF131OYYpAMxE/view" target="_blank">Open Square Capital</a></li><li><a href="https://www.osam.com/pdfs/research/OSAM%20Update_Blizzard,%20Winter,%20or%20Ice%20Age_FINAL.pdf">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a> - ($AAP, $AGI, $BHE, $CRI, $CASS, $DKS, $EZPW, $GENC, $HCSG, $HP, $SLV, $KELYA, $OR, $SCHL, $SKX, $SP, $SYKE, $UNF, $UG, $WMK).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ABT, $BKNG, $FB, $ORLY, $ADSK, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5ea714f9981de6313a251243/1588008188839/RF+Capital+Q1+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/a591f71a-64ef-4ca1-80dc-2ea2a4646172/Rhizome_Partners_Q1_2020_Investor_Letter_Final.pdf">Rhizome Partners</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/04/Q1-2020-Investment-Commentary-FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($NUAN)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q20.pdf">RiverPark Large Growth Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_1Q20.pdf">RiverPark Long/Short Opportunity Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT, $COST, $APO, $KKR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_1Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($FAST, $KEYS, $MSFT, $ROSS).</li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan-Street-Capital-Q1-2020-Letter-1.pdf" target="_blank">Rowan Street Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_4ad59d00e289448cabcd6a61a130760e.pdf" target="_blank">Saga Partners</a> - ($AYX $CVNA $DBX $FB $LGIH $LIMAF $TTD $TRUP $VSEC $WIX)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q1-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q1-2020-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q1-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://moiglobal.com/wp-content/uploads/Semper-Vic-Partners-L.P.-Letter-to-Investors-April-2020.pdf" target="_blank">Semper Vic Partners</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ee82efca-a8be-4855-b3e0-e3ba3069a318&Name=Q1_2020_-_Investor_Letter">Sequoia Fund</a></li><li><a href="https://smeadcap.com/files/7915/8696/1388/1Q_2020_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://srk-capital.com/content_files/2020/05/SRK-Fund-Q1-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/04/STJIC-Adviser-Letter-2020-Q1.pdf">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ff8c300-0ef4-4034-914b-cbd5c86d581d/Steel_City_Capital_1Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/1Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a></li><li><a href="https://taovalue.files.wordpress.com/2020/05/taovalue_2020_q1_final-1.pdf" target="_blank">Tao Value</a> - ($GILD, $CACC, $ADS, $NXRT, $$BILI)</li><li><a href="https://static1.squarespace.com/static/54ce2abfe4b0513e12ea592f/t/5e886ec613e1233cd43c8cae/1585999558895/Templeton+and+Phillips+Commentary+-+March+2020.pdf">Templeton and Phillips Capital Management</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a> - ($CALM, $CET, $BATRA, $BATRK).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAVFX-Shareholder-Letter-Web.pdf">Third Avenue Value Fund</a> - ($BMWYY, $DB, $IFSPF, $HA, $ORI, $FDX, $VNO)</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/04/Third-Point-Q1-2020-Investor-Letter-TPOI-1.pdf" target="_blank">Third Point</a></li><li><a href="https://drive.google.com/file/d/1jshHJg_zQ30ZvmrU8iBTIBX9zE6CDtdo/view" target="_blank">Tidefall Capital Management</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q1.pdf">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202020%20-%20Final.pdf">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e99e67f7f671d105bf293af/1587144320124/Upslope+-+2020Q1+Letter.pdf" target="_blank">Upslope Capital Management</a></li><li><a href="https://www.docdroid.net/q7NxMcX/universa-investments-q1-2020-letter-pdf#page=6">Universa Investments</a></li><li><a href="https://mcusercontent.com/2686100c548ffa2b413d5cb29/files/3cb819ec-c2d9-4ff5-870b-cc86b4d93fbd/Vltava_Fund_Letter_to_Shareholders_Q1_2020.pdf">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/04/VVP-Quarterly-Letter-20.03.31.pdf">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q1-2020-REV-FNL.pdf">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200406/pdf/44gqxsc6q8zjdy.pdf">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f47cdae028142f1ade840f42986ab09.pdf">Wedgewood Partners</a> - ($FAST, $FB, $KEYS, $MSFT, $ROSS, $NVDA, $EA, $BKNG, $EW).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/1q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://mcusercontent.com/d194e1b3fd218137abdb074da/files/90c79ff7-93d3-49ac-9da6-1f1ea8209ae0/2020_04_16_White_Crane_Q1_2020_Letter.pdf">White Crane Capital</a></li><li><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/securepdfs/2020/04/23094734/Wolf-Hill-Q1-2020-Letter.pdf" target="_blank">Wolf Hill Capital</a> - ($HGV, $MIDD)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5ea1a3a3bc77342600cf7649/1587651493472/Worm+Capital+-+Q1+2020+Investor+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><span style="font-size: large;"><br /></span><span style="font-size: large;">4th Quarter 2019</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5e35af9e12c5156ca6085326/1580576670740/Q4%2719+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($ISDR, $RICK, $TSSI, $DPZ)</li><li><a href="https://drive.google.com/file/d/1ANcyf36aA9H83xfjYF3N5Z6Rc2YaS75q/view" target="_blank">2Point2 Capital</a></li><li><a href="https://gallery.mailchimp.com/f6660ee7c7b25c0643c0e8337/files/53f90575-0084-456e-b563-3e47282ae860/Admiral_Cap_4Q19_Letter.pdf">Admiral Capital Partners Fund</a> - ($CVNA, $GDDY, $GTT).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/01/Alluvial-Capital-Management-Q4-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $CRAWA, $BUKS, $NUVR, $LICT)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5e3633d4cd5a0d4354e18334/1580610521595/Q4+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q4.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://drive.google.com/file/d/1OSNsquPrryvmnAYEPpfK8VMGtb5qSILE/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://ift.tt/2TwwgOx" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($ARDX, $SAVE, $MOS, $SINA, $SNE, $RYAAY).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Funds</a> - ($CCL, $NLSN).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/APFDX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTMX-APDMX-APHMX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($SWKS, $TW, $CMS, $UA, $ABMD, $ZS, $BURL, $AMD, $ANET, $SERV, $DXCM).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTSX-APDSX-APHSX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTLX-APDLX-APHLX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2019-partner-letter-w57TvkLz" target="_blank">Artko Capital</a> - ($MO, $REPH, $GAIA, $RSSS)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/02/2020-02-17-Askeladden-Capital-Q4-2019-Letter-Breaking-Bad.pdf">Askeladden Capital</a></li><li><a href="https://content.rwbaird.com/RWB/Content/PDF/AssetManagement/Q3-2019-Mid-Cap-Growth-Mutual-Fund-Commentary.pdf">Baird MidCap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Asset Fund</a> - ($DXCM, $SAGE).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Discovery Fund</a> - ($PGNY, $ESPR, $SIEN, $SITE, $ICHR, $TXMD, $MRCY, $FSCT, $TCMD, $SCPPF, $OLLI, $BRP, $CDNA).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%2012.31.19_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Real%20Estate%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="http://www.bernzott.com/uploads/1/5/9/5/15953620/2019_12_31_bca_scv_marketcomm.pdf?utm_source=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $PLOW, $LOGM, $MG, $MIK, $CNK, $CTLT, $EPAM, $AGS).</li><li><a href="https://s3.amazonaws.com/bireme/4Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a> - ($KRG, $DNKN)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/01/Q4-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e2e81226ba9076709046053/1580106019545/2019+Q4.pdf" target="_blank">Blue Tower Asset Management</a></li><li><a href="http://boyarvaluegroup.com/bvg-pdf/4Q_2019_BoyarResearch.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=82628381&_hsenc=p2ANqtz-_eFJS4AvVpyZPJ93cqx7hT_a3Ecgy_iQ8I_KJWvq6pyI5hY8KWOrRF3lJXq2wgq7vsVrrVKm3ExXWqv88qtB2prmxWqg&_hsmi=82628381" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf4q19commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf4q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($VEEV, $GKOS, $TNDM, $SMAR).</li><li><a href="https://browncapital.com/system/files/ief4q19commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf4q19commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/02/The-Broyhill-Letter-2020.02-FINAL.pdf">Broyhill Asset Management</a></li><li><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2020/01/bumbershoot-holdings-2020-1-jan-letter-to-partners-2019-1.pdf" target="_blank">Bumbershoot Holdings</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://citronfund.com/wp-content/uploads/2020/01/Citron-Capital-Annual-Investor-Letter-for-2019.pdf" target="_blank">Citron Capital</a> - ($RH, $PTON).</li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2019+Q4+Letter.pdf">Coho Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e181bff65c626738a349429/1578638336674/FY2019.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($YUMC, $FRRVF, $PTC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5e3048cf9826d330d5c2854e/1580222671293/Q4+and+YE+2019+Letter.pdf" target="_blank">Curreen Capital</a></li><li><a href="https://danwang.co/2019-letter/" target="_blank">Dan Wang</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a>.</li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFAnnualReview.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYVFPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Midcap-Letter-4Q19.pdf" target="_blank">DF Dent Midcap Growth</a> - ($ODFL, $TWLO, $VEEV, $ANSS, $MCO, $CBRE, $VRSK, $VMC, $MKL).</li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Small-Cap-Letter-4Q19.pdf" target="_blank">DF Dent Small Cap Growth</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/191231_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/90031b83688dd5c83d79fcf31/files/48eecab4-b7af-4d56-8e05-f3d54f33d10f/DKAM_ROE_Reporter_January_2020_.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://www.nsx.com.au/ftp/news/021737727.PDF" target="_blank">East 72 Holdings</a></li><li><a href="https://gallery.mailchimp.com/dd77d6a119e511a93e9308144/files/98e445bf-1c22-4a23-8a6b-1d71d798899f/Edgebrook_Mid_Year_Letter_2019.pdf" target="_blank">Edgebrook Partners</a> - ($APEUF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2019/" target="_blank">Ensemble Fund</a> - ($PAYX, $BR)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2019.pdf">Evermore Global Value Fund</a> - ($IAC, $MTCH, $ANGI, $STNG, $KRA, $ENZ).</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15183252/Q4-2019-Broadview-Dark-Horse-Quarterly-Letter.pdf" target="_blank">Ewing Morris Dark Horse</a> - ($LQSIF)</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15170401/Q4-2019-Final-1.pdf" target="_blank">Ewing Morris Opportunities Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-12_final.pdf?sfvrsn=8">FPA Capital Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2019.pdf?sfvrsn=6" target="_blank">Fundsmith Equity Fund</a></li><li><a href="http://gatorcapital.com/wp-content/uploads/2020/01/GFP-Q4-Investor-Letter-Updated.pdf" target="_blank">Gator Capital Management</a></li><li><a href="http://www.givernycapital.com/en/doc/236/Giverny_Capital_-_Annual_Letter_2019_web_.pdf">Giverny Capital</a></li><li><a href="http://www.goodhavenfunds.com/media/pdfs/2019_AR.pdf" target="_blank">GoodHaven Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5e4703048934db2c06ec56ae/1581712134756/Greenhaven+Road+Letter+%282019+Q4%29.pdf">Greenhaven Road Capital</a></li><li><a href="https://www.scribd.com/document/443770600/Greenlight-Q4-2019#download&from_embed" target="_blank">Greenlight Capital</a> - ($AER, $AGO, $ATC, $BHF, $CC, $GM, $GRBK, $NFLX, $DXC).</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.01.23-Q4-Letter-v5.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-4Q19-Report.pdf">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2019/IE-4Q19-Report.pdf">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2019/ISC-4Q19-Report.pdf">Harding Loevner International Small Companies Equity</a> - ($GUZOF, $ALICORC1, $PGENY).</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-4Q19-Report.pdf">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q4.pdf">Hayden Capital</a> - ($SE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($LEG, $EXC, $UMBF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SCHW, $GTS, $CONE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TBBK, $AMRC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($ASB, $PAHC)</li><li><a href="http://www.hgcinvest.com/wp-content/uploads/2020/01/HGC-Arb-Letter-December-2019.pdf" target="_blank">HGC Investment Management</a> - ($GSAC, $DEAC).</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2019Q4NP.pdf">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q4-2019-Horizon-Kinetics-Commentary_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q19.pdf">Horos Asset Management</a></li><li><a href="https://www.dropbox.com/s/wj5xngs5dpjc0la/Huffman%20Prairie%20-%202H2019%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a> - ($PKE)</li><li><a href="https://l1international.com/wp-content/uploads/2020/01/L1-Capital-International-Fund-Quarterly-2019-12.pdf" target="_blank">L1 Capital International Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5e3b0e94a8e0ad4a457d4a5e/1580928660765/Laughing+Water+Capital+YE+2019.pdf">Laughing Water Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/lt-uk-fund/2019/LTUK_MR_2019_12.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5e33310f6cac3d0b6f0a070d/1580413200079/4Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $CTEK, $SFE, $PESI)</li><li><a href="https://southeasternasset.com/commentary/4q19-llpf-commentary/">Longleaf Partners Fund</a></li><li><a href="https://www.lyricalam.com/wp-content/uploads/2020/01/LAM-2019-Review-letter.pdf" target="_blank">Lyrical Asset Management</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5e323c32f8043d0750f9a1f1/1580350515744/Maran+Partners+Fund+LP+2019+Q4+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RNGR, $SDI).</li><li><a href="https://www.mcmadvisors.com/wp-content/uploads/2020/01/Martin-Capital-Management-2019-Annual-Report.pdf" target="_blank">Martin Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Year%20End%20Letter.pdf?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-8wWAtvLCSJ92jhQUdjS_UF5sLUTcGZPdtnlxPMJfKIFGmlgVgnj1U2Yj9GHeBoCbudkm9l" target="_blank">Massif Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_4b6d6eb57e724504b2acd6925fe444a6.pdf" target="_blank">Merion Road Capital</a> - ($TTWO, $ODP)</li><li><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf">Miller Value Fund</a> - ($FTCH, $ET, $CDEV).</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2019_12.pdf" target="_blank">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2019_12.pdf" target="_blank">Moneta MultiCaps C</a></li><li><a href="https://drive.google.com/file/d/1HXfARV-D0Ty0LjixHFdMQc9keEOyV3XN/view" target="_blank">MPE Capital</a> - ($CACC).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/01/2019-Nelson-Roberts-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($IBM)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Fourth-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_1eee8738221f439bacc164cda1472ccf.pdf">Old West Investment Management</a> - ($GOLD)</li><li><a href="https://www.osam.com/pdfs/research/Q4%202019%20Investor%20Letter%20-%20FINAL.pdf" target="_blank">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmharbourcapital.com/files/PHC%20Q4%202019%20Letter.pdf" target="_blank">Palm Harbour Capital</a></li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_7f7cfd9362f1496597164ec1ee5a1757.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/dab30c88-52e6-425d-94a0-2f672f543d3f/4Q19%20Parnassus%20Core%20Equity%20Fund%20Commentary.pdf">Parnassus Core Equity Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/fc4897bd-50cb-43fb-9296-bddb814716c6/4Q19%20Parnassus%20Mid%20Cap%20Fund%20Commentary.pdf">Parnassus Mid Cap Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $CRM, $ABT, $NOW, $ORCL).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Global Growth</a> - ($MSFT, $BABA, $ABT)</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5e66d8317891847c6cd48c38/1583798321575/RF+Capital+Q4+2019+Investor+Letter.pdf">RF Capital Management</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/01/2019-Year-End-Commentary_FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($ANGI, $DBX, $GRUB, $TWTR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($AAPL, $UNH, $BX, $MSFT, $ADSK, $SDC, $TWTR, $NOC, $TDC, $TWLO).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_4Q19.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_4Q19_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/01/Dont-Cha-Know.pdf" target="_blank">RLT Capital</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Fund.pdf">RMB Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Small-Cap-Fund.pdf">RMB Small Cap Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-SMID-Cap-Fund.pdf">RMB SMID Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/aaf68a26-7a10-4c45-bfe1-fb0cb97b85d1/Saber_Investment_Fund_Q4_2019_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c69e35b055894d1aad827cde8423bc2f.pdf">Saga Partners</a> - ($TTD, $LIMAF, $FB, $LGIH, $VSEC, $CVNA)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q4-2019-web.pdf">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q4-2019-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q4-2019-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://static.fmgsuite.com/media/documents/c388840b-3dda-41da-a062-077bf785255b.pdf">Semper Augustus</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=7a947f03-c188-49d6-b32f-9cddfe5ebb9a&Name=Q4_2019_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://gallery.mailchimp.com/57cdfc490b101d54b70128c06/files/a813a300-8f68-43cb-8b3d-2fa28aed58fb/SilverRingValuePartners_2019Q4_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/files/9315/7910/2122/4Q_2019_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://www.socialcapital.com/annual-letters/2019.pdf">Social Capital</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_d91d278701ba4b21afd564ffabb36d1f.pdf" target="_blank">Spree Capital</a> - ($RST, $MTCH, $FERGY).</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2019-Annual-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($TARO, $EGRX, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2020/02/taovalue_2019_q4_final.pdf">Tao Value</a></li><li><a href="https://www.langfrist.de/dokumente/2019_e_Rubicon_full.pdf" target="_blank">TGV Rubicon Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($GPOR.L, $HHC, $PSA, $VNO, $SRG, $FPH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BMWYY, $DB, $MAC).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/01/Third-Point-Q4-2019-Letter-TPOI-Final.pdf" target="_blank">Third Point</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2019-Q4.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://mcusercontent.com/2506bda6ca9a8b7ce8b3c54b4/files/0c17bc16-6a20-4c24-8459-53e800315fe7/TARF_2019_Annual_Commentary_vFinal.pdf" target="_blank">Tyro Capital Management</a> - ($MO, $REPH, $SKY, $SMCI, $MTCH, $UBSFF, $BXC, $MYOV)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e209a872cfe3e653d0bd4bd/1579195017065/Upslope+-+2019Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FOCS, $DLTR)</li><li><a href="https://www.dropbox.com/s/lgqbpo4oownzo5m/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q4%202019%20%28V1.1%29.pdf?dl=0&utm_source=The+Vilas+Fund%2C+LP&utm_campaign=d48e03b6f7-4Q2019+Main&utm_medium=email&utm_term=0_d81d32d2af-d48e03b6f7-431110445" target="_blank">Vilas Fund</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_58_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200108/pdf/44d49tnm31r1hz.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_b41d00a2669749f4babb2c468e820ecd.pdf" target="_blank">Wedgewood Partners</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners III Opportunity Fund</a> - ($SIRI, $LSXMB, $EVREF).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/ds32xz73grnzqbxdargxzancsg91q7it" target="_blank">White Brook Capital</a></li><li><a href="https://gallery.mailchimp.com/d194e1b3fd218137abdb074da/files/a8558333-dad0-40c8-8abd-8468fb20e0f9/2020_01_21_WCMSF_Q4_2019_Letter.pdf" target="_blank">White Crane Capital</a></li><li><a href="https://www.docdroid.net/tJT1NRd/wolf-hill-2019-year-end-letter.pdf" target="_blank">Wolf Hill Capital</a> - ($CNR, $REGI, $WTSHF)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5e1d007471426f2f29068da4/1578958966239/Worm+Capital+2019+Year+End+Letter.pdf" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">3rd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/10/Alluvial-Capital-Management-Q3-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $LICT, $NUVR, $APTL, $NORSA, $PIOE, $MHGU, $ITD.IM, $EDAC.IM, $SIO.IM)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5db8fdd21b54db1101ac3c18/1572404691231/Q3+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($KRMD, $KYYWF, $STKS)</li><li><a href="https://www.docdroid.net/I8sosdq/andaz-notes-2019-09-30.pdf" target="_blank">Andaz Private Investments</a> - (CBS.B, $VIAB)</li><li><a href="https://ift.tt/35Tb1KD" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($SINA, $WB, $MOS, $SAVE, $ARDX, $SNE, $RYAAY)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/eb95b5c5-e141-4f87-b0d5-95d5e1a7a2a5/Arquitos_Investor_Letter_Q3_2019.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BX, $BWA, $DIFTY, $ZBH)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTMX-APDMX-APHMX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($ALXN, $EXAS, $GDI, $GWRE, $CTLT, $BURL, $PAGS, $LHX, $ANET, $ASND)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTSX-APDSX-APHSX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-3q-2019-partner-letter-EvrTnLGB" target="_blank">Artko Capital</a> - ($FTK, $LEAF, $SKY, $USAT, $EEI, $SPAR)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/11/2019-10-28-Askeladden-Capital-Q3-2019-Letter-Earn-It.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Asset Fund</a> - ($CCC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Discovery Fund</a> - ($TXMD, $FND, $TREX, $MRCY, $KNSL $VRAY, $SILK, $BE, $CDNA, $TPIC, $MDLA, $PING, $WMS, $VRNS, $INGN)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Investor%20-%20Baron%20Small%20Cap%20Fund%203Q19.pdf" target="_blank">Baron Small Cap Fund</a> - ($CDAY, $CCC, $COLD)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $SP, $PLOW, $OI, $AGS, $QUOT,$ CTLT, $EPAM, $KN, $CLDR, $AGS, $GNRC)</li><li><a href="https://s3.amazonaws.com/bireme/3Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $COKE)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/10/Q3-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($SFIX, $GRUB, $MTCH, $NFLX)<span id="goog_146329209"></span><a href="https://www.blogger.com/"></a><span id="goog_146329210"></span></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5dad22ac218aa17443c4035b/1571627692663/2019+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2d3eecc8-c31e-45c7-8c24-e0e1a8269ac3/1019_BCM__Partner_Letter_Q3_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $CAMB.LN)</li><li><a href="https://browncapital.com/system/files/scf3q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($TYL, $MANH, $ABMD, $INGN)</li><li><a href="https://browncapital.com/system/files/mcf3q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a> - ($EW, $TYL, $ALGN, $ULTA, $MKTX, $CRL, $JBHT)</li><li><a href="https://browncapital.com/system/files/ief3q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a> - ($CZMWF, $ESLOY, $QGEN, $IPSEF, $MONOY)</li><li><a href="https://browncapital.com/system/files/iscf3q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/10/2019-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> ($RUBI, $BXC, $HOME, $QMCO)</li><li><a href="https://drive.google.com/file/d/1jzHBEfehpV9TfzwFhiGl91UMVtnGwWjS/view">Compound Everyday Capital</a></li><li><a href="https://gallery.mailchimp.com/a6cd0be2415ea775a57718587/files/14809e7f-2f16-4cb8-8fb3-8c589f63c6ed/50._Q3_2019.pdf" target="_blank">Compound Money Fund</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5db88acf71786e4ef3228683/1572375248129/2019Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($IPGLF, $NVST, $A, $FRC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5da0d2a16603d478b62581b4/1570820769906/Q3+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($GTX, $KTB, $MFGP, $BLD)</li><li><a href="https://davisfunds.com/downloads/DFFInterview.pdf" target="_blank">Davis Financial Fund</a></li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a> - ($JD, $AMAT)</li><li><a href="https://davisfunds.com/document/read/DNYPMComm" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/bf83181f-b69f-4ece-a640-a4007c15ed07/Q3_2019_Investor_Letter_Desert_Lion_Capital.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/190930_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/10/E72-Quarterly-Report-Sept-2019.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $DTLA, $FFXDF, $VULC, $PICO)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2019/" target="_blank">Ensemble Fund</a> - ($MA, $TIF)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2019.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2019/10/07164955/Quarterly-Update-Q3-2019.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/funds/shrpt/ann_shrpt_093019.pdf" target="_blank">Fiduciary Management FMI Large Cap</a> - ($HDS)</li><li><a href="https://t.co/3lQBLZ89rY?amp=1" target="_blank">Firebird Management</a> - ($LNC, $GES)</li><li><a href="https://focusedcompounding.com/wp-content/uploads/2017/06/Q3_2019_Letter_to_Clients-1.pdf" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI, $TPHS, $KEWL, $MLP)</li><li><a href="https://www.asx.com.au/asxpdf/20191011/pdf/449dftp5k138nd.pdf" target="_blank">Forager Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2019-q3b0f6f4531b0367849d6cff0000f7084a.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-09.pdf?sfvrsn=8" target="_blank">FPA Capital Fund</a> - ($AMBA, $NBL, $DAN, $IDCC)</li><li><a href="http://gatorcapital.com/wp-content/uploads/2019/10/GFP-Q3-Investor-Letter.pdf" target="_blank">Gator Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5daa7eaeab96a61181bef76f/1571454639744/Greenhaven+Road+Letter+%282019+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($NTDOY, $CSSE, $KKR, $BXC, $APPS, $PAR, $SHSP, $GIGRT, $GIGWS)</li><li><a href="https://www.docdroid.net/hM7Tnw8/qlet2019-032.pdf" target="_blank">Greenlight Capital</a> - ($NFLX, $TSLA, $CC)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.11.14-Q3-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://ift.tt/34FFgn5" target="_blank">Goehring & Rozencwajg</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q3.pdf" target="_blank">Hayden Capital</a> - ($CACC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a></li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SAFM, $MHK, $CVS)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($VST, $LNDC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a></li><li><a href="https://www.docdroid.net/pCmtahr/hellerhouseopportunityfund-2019q2letter-public.pdf#page=17" target="_blank">Heller House Opportunity Fund</a> - ($SHOP $WORK $ROKU)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://www.dropbox.com/s/l24e3ilw0j2kkyq/Lightsail%203Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/investment-insights/2019/Are%20You%20Experienced%20-%20November%202019.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5db9dbd123316d682a695a20/1572461522295/3Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $PSSR, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/3q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CTL, $GOOG, $GOOGL, $CMCSA, $GE, $FDX, $FRFHF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5db9f8173907823b364ebba8/1572468760093/Maran+Partners+Fund+LP+2019+Q3+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RCMT)</li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Third%20Quarter%20Letter%20to%20Investors.pdf" target="_blank">Massif Capital</a> - ($DO, $TOO, $EAF, $DE, $UNP, $CSX, $NCLH)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_adb2e39184484fd5a9374a1b8ddad5fe.pdf" target="_blank">Merion Road Capital</a> - ($HXL, $IAA, $TRNS)</li><li><a href="https://www.hvst.com/organization/meson-capital-partners-llc/posts/meson-q3-update-man-vs-machine-wPZT3xZx" target="_blank">Meson Capital</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2019Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/10/2019-Q3-Nelson-Roberts-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($SIVB, $SCHW, $AKAM, $PFE, $DLR)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Third-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a> - ($GOOG, $CHTR, $DDAIF, $APA)</li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_fe35b044b6f9420aa65670c4b7dfbf7f.pdf" target="_blank">Old West Investment Management</a></li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_2044e47207184e0a96223be92f96d4b5.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.B, $CRD/B, $GENC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $IT, $MSCI)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a> - ($ALGN, $ABT, $SGSOY)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a> - ($TREX, $FND, $LMAT, $FOXF, $OLLI, $TREE, $APPF, $ALTR)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://files.constantcontact.com/07cbbb80601/d7746d56-0340-44ba-b2d3-fb41d43a159a.pdf" target="_blank">Rangeley Capital</a> - ($CHTR)</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5db930e3f152967e525fbd89/1572417764733/RF+Capital+Q3+Letter+2019.pdf" target="_blank">RF Capital Management</a> - ($FL, $GAPFF, $ZAGG, $GME, $GTX)</li><li><a href="http://www.rgaia.com/q32019-investment-commentary-kambi/" target="_blank">RGA Investment Advisors</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($GOOG, $BX, $AAPL, $NOC, $EQIX, $EXAS, $ALGN, $AMZN, $SDC, $ULTA, $TWLO)</li><li><a href="http://www.rmbcap.com/files/RMB_Core_Equity_-_Investor_Letter_3Q19.pdf" target="_blank">RMB Core Equity Fund</a></li><li><a href="https://themarketplunger.com/2019/11/12/q3-2019-letters/" target="_blank">Rockvue Capital</a> - ($UAA, $FOX)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/4d8542a4-48be-4664-bc79-6506621e8100/Saber_Investment_Fund_Q3_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_7f9545a28a0a48129a7920980b5b2f27.pdf" target="_blank">Saga Partners</a> - ($VSEC)</li><li><a href="https://sevencanyonsadvisors.com/resources/seven-canyons-world-innovators-quarterly-commentary/" target="_blank">Seven Canyons World Innovators</a></li><li><a href="https://docs.wixstatic.com/ugd/de07f6_0c03e7d62d824ca98a96fa974471a7fb.pdf" target="_blank">Spree Capital</a> - ($CFX, $CARS)</li><li><a href="https://srk-capital.com/content_files/2019/11/SRK-Fund-Q3-2019.pdf" target="_blank">SRK Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($SLGD, $BSTC, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2019/10/taovalue_2019_q3_final.pdf" target="_blank">Tao Value</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/11/2019-Q3-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($CLNY, $GWW, $HNGKY)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CTB, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2019/10/Third-Point-Q3-2019-Letter-TPOI-.pdf" target="_blank">Third Point Offshore Fund</a> - ($ESLOY, $SNE)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5da981abd30f37336bb612b3/1571389868322/Tollymore+letter+Sep+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($GRUB)</li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Fund</a> - ($KRNTY, $FOX $FOXA, $TBABF, $BIDU)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5da09b01c80d065ebaf8d703/1570806531156/Upslope+-+2019Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($IT)</li><li><a href="https://www.dropbox.com/s/vsrenaad14f2bxa/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q3%202019%20%28Final%29.pdf?dl=0&utm_source=Website+Signup+-+Vilas+Capital+Management%2C+LLC&utm_campaign=8004c87a9b-3Q2019+Ltr_Web&utm_medium=email&utm_term=0_0fbdf27fc5-8004c87a9b-431098533" target="_blank">Vilas Capital</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_57_en.pdf" target="_blank">Vltava Fund</a> - ($BRK.A, $BRK.B, $SBRCY, $BMWYY)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_03b9a051772a4b9792c849ed7f74150a.pdf" target="_blank">Wedgewood Partners</a> - ($CDW, BRK.B, $NVDA, $ULTA)</li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/3Q19_Value%20Matters.pdf?1572140971546" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/4giogadrnt294d6q8t3a4awtxhrkjmjh" target="_blank">White Brook Capital</a> - ($BOX, $GRPN)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5db752012422566f6f7f86a4/1572295170818/Q3+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><div><br /></div></div><span style="font-size: large;">2nd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/07/Alluvial-Capital-Management-Q2-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $NUVR, $MMAC, $RAMPF, $CLWY, $CMLS, $FTR)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5d3a2ee5c694120001688a00/1564094184541/Q2+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($PAYS, $KWS, $NTDOY)</li><li><a href="https://www.dropbox.com/s/19lcbm48spw3g9c/Andvari-2019q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MLAB, $UPLD, $APPN, $BL, $WDAY, $TYL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/08/APPLX-Q2-2019.pdf" target="_blank">Appleseed Fund</a> - ($CRTO, $SINA)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAZ, $TAP, $MTSC)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/6b4ee586-4e8c-4044-a1be-d9f30c4f9e34/Arquitos_Investor_Letter_Q2_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTMX-APDMX-APHMX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTSX-APDSX-APHSX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-2q-2019-partner-letter-EvrTnmKZ" target="_blank">Artko Capital</a> - ($CCNI, $JYNT, $WFCW, $FLL, $NRCGW)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/07/2019-06-29-Askeladden-Capital-Q2-2019-Letter-Askeladden-Reloaded.pdf" target="_blank">Askeladden Capital</a> - ($FC, $AER, $DLTH, $LGIH, $SFM, LQDT)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $IDXX, $SSNC, $BNFT, $IRDM, $FDS, $ACGL, $RRR, $TWOU, $CVET, $ADPT, $ALEC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $ACGL, $CHH, TSLA, $BNFT, $MANU)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($IDXX, $JBT, $SITE, $TTD, $BFAM, $GTT, $RRR, $CISN, $PRA, $CVET, $TREX)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_6_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $GNRC, $BV, $CLDR, $SSTK, $MIK, $EPAM, $SNPS, $LOGM, $INOV, $CARB, $MINI)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-2q19-quarterly-letter" target="_blank">Bireme Capital</a></li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/07/Q2-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $GRUB, $TRIP)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5d350ce2e13121000110246f/1563757795868/2019+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($CNR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/8ef5fe82-9246-4fdd-afb3-8bb4681ebb8b/0719_BCM_Partner_Letter_Q2_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $GTN)</li><li><a href="https://browncapital.com/system/files/scf2q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf2q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief2q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/07/2019-Q2-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($DEST, $BXC, $PAR)</li><li><a href="https://www.docdroid.net/IereKR2/coho-capital-2019-q2-letter.pdf" target="_blank">Coho Capital</a> - ($GDDY)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5d1909fa11a9570001ea18c8/1561922043505/2019Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FISV, $FRRVY, $FRRVF, $TTNDY)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5d2fbf4e8b4dd7000199603e/1563410254409/Q2+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($KTB)</li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/5fd3b3ea-7001-4c07-8d63-f95d455af921/Q2_2019_Desert_Lion_Capital_Letter.02.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/07/E72-Quarterly-Report-June-2019.pdf" target="_blank">East 72 Holdings</a> - ($AFTPF, $ADS)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2019/" target="_blank">Ensemble Fund</a> - ($BR, $SBUX, $FAST, $FRC, $GOOG)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($DIS, $BORR, $STING)</li><li><a href="https://www.ewingmorris.com/wp-content/uploads/2019/07/Q2-2019-Letter-vFINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2019/iso_lc_20190630.pdf" target="_blank">Fiduciary Management FMI Large Cap</a></li><li><a href="http://ift.tt/2lCHEK9" target="_blank">Firebird Management</a> - ($BV, $KSS)</li><li><a href="http://bit.ly/2IVHtCO" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q2-2019.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-06_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5d44bf055832920001fa4381/1564786438422/Greenhaven+Road+Letter+%282019+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($KKR, $APPS, $PAR, $SHSP, $ETSY, $NTDOY)</li><li><a href="https://www.docdroid.net/nGef9ZE/greenlightq2letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.08.19-Q2-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q2.pdf" target="_blank">Hayden Capital</a> - ($CMPR, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($RDN, $VST, $CALX)</li><li><a href="https://www.dropbox.com/s/5nuv7dwl1ciblrv/Lightsail%202Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5d46e8a04cbc950001226b6c/1564928160433/2Q19+letter.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $DAIO, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/2q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CMCSA, $GE, $AMG, $CTL, $HCMLY\$HCMLF, $CHKGF, $CNHI, $FDX, $MAT, $CNX) - ($CBLLF, $DE)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5d3b26b6b5cb710001c505e5/1564157623654/Maran+Partners+Fund+LP+2019+Q2+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $WLK, $BXC, $SVIN, $BH)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2019/07/MVIP-2Q19-Letter-FINAL.pdf" target="_blank">Mar Vista Investment Partners</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5d2dd3b02daa030001a79d58/1563284400621/Massif+Capital+Second+Quarter+Letter+to+Investors.pdf" target="_blank">Massif Capital</a> - ($CBLLF, $DE)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_109a2c968fa84fa2afd22765e9af9374.pdf" target="_blank">Merion Road Capital</a> - ($IAA, $KAR, $MHH)</li><li><a href="https://www.brookvine.com.au/wp-content/uploads/2019Q2_Mittleman-Global-Value-Equity-Fund_Qtrly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/13kJJaxTuFCpNSOGStboGQFTDcl6ywMQq/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q2-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ROP, $DLR, $PFE) </li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_704bd79f605041f3920f5f06d726faf1.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.A\$CRD.B, $CWGL, $NGS, $WMK, $UG, PTVCA\PTVCB, $AE, $DOX, $SCHL, $GENC)</li><li><a href="https://pershingsquareholdings.com/wp-content/uploads/2019/08/2019-Semiannual-Financials-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q2-2019-investment-commentary/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://gallery.mailchimp.com/bca5bc00638aa58b6cada7fab/files/3f913a70-cf19-4e27-8a1c-42a613be3200/Rhizome_Partners_Q2_2019_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($ADBE, $AMZN, $FIVE, $ISRG, $GOOG\$GOOGL, $FB, $AAPL, $BX, $EXAS, $MSFT, $DIS, $PANW, $TDC, $ADSK, $COG)</li><li><a href="https://themarketplunger.com/2019/08/10/2q-2019-letter/" target="_blank">Rockvue Capital</a> - ($EAF, $TH, $UAA)</li><li><a href="https://www.rvcapital.ch/wp-content/uploads/2019/08/Co-Investor_Letter_H1_2019-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/a676b819-a092-4246-8284-74178e0a6fa9/SIF_2019_07_19_Investor_Letter.04.pdf" target="_blank">Saber Capital Management</a> - ($FB, $WFC)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_cee76b8ab55c40bcbc31421f7759ca6f.pdf" target="_blank">Saga Partners</a> - ($TTD, $LIMAF, $FB, $TRUP, $UA)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_58cdbf3f06da4d9b9bfc3dfba3366371.pdf" target="_blank">Spree Capital</a> - ($CVET, $BB, $QCOM)</li><li><a href="https://assets.empirefinancialresearch.com/uploads/2019/07/EFD-7-1-Stanphyl-Capital-Letter-June-2019.pdf" target="_blank">Stanphyl Capital Management</a> - ($TSLA, $AVNW, $WSTL)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $BSTC, $ELMD)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5d1b720139ab94000119388b/1562079747536/Tollymore+letter+June+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($BID)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5d2cb4770f60db0001b4a56c/1563210872722/Upslope+-+2019Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FLIR, $HGV, $COKE, $PACK)</li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_56_en.pdf" target="_blank">Vltava Fund</a> - ($AN)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_d88728c47e5442b9aa1f1d731c89ef5b.pdf" target="_blank">Wedgewood Partners</a> - ($ALC, $BRK.B, $SCHW, $CTSH, $EA, $MSI, $ODFL)</li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1570807813238" target="_blank">Weitz Value Fund</a></li></ul></div><br /><span style="font-size: large;">1st Quarter 2019</span><br /><br /><div><ul><li><a href="https://gallery.mailchimp.com/b5aa12c5c889b46c0f8288f6d/files/a791ca4e-e5b2-4a25-b606-0d1d6c95f384/Alluvial_Capital_Management_Q1_2019_Letter_to_Partners_04.22.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $APTL, $IEHC, $HICKA)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7b8f29e3a8d0001860027/1556592883034/Q1+2019+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL - $PAYS, $JYNT, $RMBL, $STKS). <a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7baa5eb39310fecbc7bdf/1556593318315/Alta+Fox+STKS+Long+4.28.19.pdf" target="_blank">Full Pitch</a> on $STKS)</li><li><a href="https://www.dropbox.com/s/rax170rmix70bir/Andvari-2019q1-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($UPLD, $TLRA, $WDAY, $V, $MA, $TYL, $MKL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/05/2019-APPLX-semi-annual-letter.pdf" target="_blank">Appleseed Fund</a> - ($SKM, $ERJ)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($AXE, $KMX, $ZBRA)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/680d1b4b-376f-4a4a-9324-af9ff3abe4dd/Arquitos_Investor_Letter_Q1_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2019-partner-letter-wy9TLMel" target="_blank">Artko Capital</a> - ($REPH, $NRCGW, $GAIA, $EEI, $LEAF)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%203.31.19.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $SSNC, $IRDM, $ANSS, $NEOG)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $H, $IRDM, $GWRE, $TSLA, $BNFT, $CHH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%203.31.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($TTD, $TDG, $FND, $GWRE, $HUD, $OEC, $PRTY, $BJRI, $CCC, $OSW, $CCX.U)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAM, $SSTK,$VRNT, $MIK, $QUOT, $MG, $BV)</li><li><a href="https://bluehawkinvestors.com/q1-2019-investor-letter/" target="_blank">Bluehawk Investors</a> - ($MTCH, $FND)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-1q19-quarterly-letter" target="_blank">Bireme Capital</a> - ($AAPL, $BKNG)</li><li><a href="https://browncapital.com/system/files/scf1q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf1q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief1q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/05/2019-Q1-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $USX)</li><li><a href="https://drive.google.com/file/d/1YUpNRWvSGBBLMymAbEXUoOCqFON2ENEJ/view">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ca171d41905f4c611b9202c/1554084308682/2019Q1letter.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SHMZF, $APH, $FRRVY, $FRRVF, $DHR, BAM, $SAPIF)</li><li><a href="https://www.nsx.com.au/ftp/news/021736732.PDF" target="_blank">East 72 Holdings</a> - ($ING, $MKL, $Y)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2019/" target="_blank">Ensemble Fund</a> - ($LSTR, $GOOG, $GOOGL)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($BDRBF, $KRA)</li><li><a href="https://t.co/YPShTxBhfj" target="_blank">Ewing Morris</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-2019-q1.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-03.pdf?sfvrsn=6" target="_blank">FPA Capital Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5cc366e74442bb0001c72482/1556309735923/Greenhaven+Letter+%282019+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $APPS, $KKR, $ETSY, $SHSP, $BOX, $EVI, $FCAU, $CSSE)</li><li><a href="https://www.docdroid.net/H7KPSVZ/greenlight-capital-q1-2019.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.05.23-Q1-Letter-Building-Gamma.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-1Q19-Report.pdf" target="_blank">Harding Loevner Global Small Cap Equities</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-1Q19-Report.pdf" target="_blank">Harding Loevner Global Equities</a> - ($KHC, $NSRGY, $LYFT, $WBC, $VRTX)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($BRY, $ARAY, $NWPX, $CCS, $FSLR)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q1.pdf?utm_source=Hayden+Capital&utm_campaign=fc6ae8918e-EMAIL_CAMPAIGN_2019_05_12&utm_medium=email&utm_term=0_aae4c81ce6-fc6ae8918e-103558831" target="_blank">Hayden Capital</a> - ($SE, $ZLPSF)</li><li><a href="http://www.horancm.com/sites/default/files/users/horancm/Portfolio%20Activity%201Q2019.pdf" target="_blank">Horan Capital Management</a> - ($MTN, $ATVI, $BKNG, $AAPL, $THO, $TCEHY, $GOOG, $FB)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($K, $PEP, $NFLX, $AMZN, $TPL)</li><li><a href="https://jdpcap.com/wp-content/uploads/2019/05/1Q-2019-Presentation-.pdf" target="_blank">JDP Capital Management</a> - ($XPO, $TK, $SPOT)</li><li><a href="https://www.docdroid.net/3VOAy5K/laughing-water-capital-q1-2019.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/1brj1hqavl9r08n/Lightsail%201Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a> - ($DRTTF)</li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5caf96756e9a7f50f6f03ec5/1555011190189/1Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $EVI, $CTEK)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/1Q19-Longleaf-Partners-Commentary.pdf" target="_blank">Longleaf Partners Fund</a> - ($GE, $MAT, $WYNN, $CTL, $HCMLY, $CHKGF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5cbdecde53450adb9a30dde5/1555950815790/Maran+Partners+Fund+LP+2019+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5cb5d9ccf9619acd0cf39f4e/1555421645754/Massif+Capital+First+Qtr+2019+Letter+to+Investors.pdf" target="_blank">Massif Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_b0cee1afd831423facf7f964eeada115.pdf" target="_blank">Merion Road Capital</a> - ($FCPT, $SLGG)</li><li><a href="https://www.docdroid.net/ostq4If/2019-q1-midwood-q1-2019-investor-letter.pdf" target="_blank">Midwood Capital Partners</a> - ($NXST, $DRTTF, $RCM, $LMB, $REPH)</li><li><a href="https://millervalue.com/bill-miller-1q-2019-market-letter/?dtr" target="_blank">Miller Value Partners</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q1-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($HD)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0319.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://assets.pershingsquareholdings.com/2019/05/17082807/Pershing-Square-Holdings-Ltd.-Q1-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a> - ($ADP, $QSR, $LOW, $SBUX, $HLT, $UTX, $HHC, $FNMA, $FMCC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q12019-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($GRUB)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/24185410-368c-44bd-a930-4a9d92e88bf9/SIF_2019_04_20_Investor_Letter.pdf" target="_blank">Saber Capital Management</a> - ($AAPL. $FB, $TCEHY)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_28dd8002fdf344a382a093d989c5b0f5.pdf" target="_blank">Saga Partners</a> - ($TRUP)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_21e9c90b285a4116ae4312cc1bb1bdbd.pdf" target="_blank">Spree Capital</a> - ($ROKU, $FTDR, $EBAY, $ALRM, $ZAYO)</li><li><a href="https://www.docdroid.net/QBav0xn/summers-value-partners-1q19-investor-letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $CVET, $SLGD, $ELAN, $KHTRF)</li><li><a href="https://mailchi.mp/ltfunds/templeton-and-phillips-investment-commentary-1q19-india" target="_blank">Templeton and Phillips Capital Management</a> - ($FFXDF, $HDB)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5cdd1d38e79c70fa76c315b2/1557994809354/Tollymore+letter+May+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRIP, $SE)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAREX-1Q19-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($INTU.L, $NWHM, $JBGS)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TASCX-1Q19-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($AGX)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAVFX-1Q19-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCC, $TDW, $EXP, $MHK)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5cb8894071c10b5b67e05353/1555597643395/Upslope+-+2019Q1+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($ATR, $YETI, $BLD)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1557519727747" target="_blank">Weitz Investment</a><span id="goog_1812407177"></span><a href="https://www.blogger.com/"></a><span id="goog_1812407178"></span> - <a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/Analyst%20Corner_CarMax.pdf?1557519727747" target="_blank">An Introduction to CarMax, Inc.</a> - $KMX</li></ul></div><br /><br /><span style="font-size: large;">4th Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5c509321f950b7176a5db508/1548784418298/Q4+2018+Alta+Fox+Capital+Quarterly+Letter+Final.docx.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/01/Alluvial_Capital_Management_Q4_2018_Letter_to_Partners_01.24.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $MMAC, $RAMPF, $AMNF)</li><li><a href="https://www.dropbox.com/s/53g8vs2pt3cpv4o/Andvari-2018q4-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MA, $TYL)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/" target="_blank">Ariel Funds</a> - ($ATGE, $AMG, $KN)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/9d0f05b1-9864-4bfe-84ff-d97cd237714e/Arquitos_Investor_Letter_Q4_2018.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2018-partner-letter-wnLTNPM6" target="_blank">Artko Capital</a> - ($JYNT, $SMED, $AFCN, $USAT, $PRIXQ, $SPAR)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%2012.31.18_3.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_12_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($HRC, $TRS, $CLH, $SSTK, $CMP, $CTLT, $EPAY, $MEDP, $ELY, $MIK, $MG, $SRCL)</li><li><a href="https://choice-equities.com/wp-content/uploads/2019/02/2018-Q4-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $DEST, $UA, $CMG)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5c2ca3e0aa4a995f08caea24/1546429409931/FY2018.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($BAM, $PTC, $SIRI, $PYPL, $HEI)</li><li><a href="http://east72.com.au/wp-content/uploads/2019/01/E72-Quarterly-Report-Dec-2018.pdf" target="_blank">East 72 Holdings</a> - ($AER, $EXXRF, $VIRT)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2018/" target="_blank">Ensemble Fund</a> - ($SCHW, $ST)</li><li><a href="https://www.evansandpartners.com.au/sites/default/files/InternationalFundQuarterly_December2018.pdf" target="_blank">Evans and Partners International Fund</a> - ($SKFOF, $RELX, $MMM, $GOOG, $V, $ADDYY, $AON)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/fpa-capital-fund-annual-report_03-31-19_web-ready.pdf?sfvrsn=4" target="_blank">FPA Capital Fund - Annual Report</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/crescent-fund-annual-report-web-ready-(12-31-18).pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2018.pdf" target="_blank">Fundsmith Equity Funds</a> - ($PM, $FB, $SBUX, $MSFT) - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="http://www.goodwoodfunds.com/wp-content/uploads/Goodwood-Annual-Report-2018.pdf" target="_blank">Goodwood Funds</a> - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5c4bc50842bfc120277fb927/1548469513395/Greenhaven+2018+Q4+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $KKR, $YELP, $BOX)</li><li><a href="https://drive.google.com/file/d/1W8cHASX6-hodil8f2KsnZdbWwkERXCjw/view" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.01.15-Q4-2018-Letter-vFinal.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q4.pdf" target="_blank">Hayden Capital</a> - ($MPNGF, $CVNA, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS, $NWPX, $ARAY)</li><li><a href="https://static1.squarespace.com/static/59a07c7b7131a5b68981e4d5/t/5cc7c1aaf56535000156ba28/1556595115918/Lightsail+2Q+2018+Letter.pdf" target="_blank">Lightsail Capital management</a> - ($DRTTF)</li><li><a href="https://www.valuewalk.com/2019/02/mittleman-brothers-4q18-clear-media/" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/1TmrJPz9OlvLmGBSiADH7ggUOs544pllr/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/01/Nelson-Roberts-2018-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ZTS)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_1218.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/2018-year-end-investment-commentary-easy-come-easy-go/" target="_blank">RGA Investment Advisors</a> - ($ROKU, $CGNX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/Co-Investor_Letter_2018-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_ae6d4d06c60344d8b7971326501d9b65.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LGIH, $FB)</li><li><a href="https://drive.google.com/file/d/1YKnOvM33MFTIEO_rnU9ZmOBQczTSqLd0/view" target="_blank">Sebids Capital</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAREX-4Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($DLN.L, $WY, $ZION, $PNC Warrants)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TASCX-4Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CUBI, $MYRG, $ATNI)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAVFX-4Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($DWDP, $DDAIF, $ANFGF)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5c3cb0b540ec9ab9b9fd10f0/1547481270127/Tollymore+letter+December+2018.pdf" target="_blank">Tollymore Investment Partners</a> - ($UHAL, $GYM.LN, $ITEGY, $TRIP, $TRUP)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5c38b8cb4fa51a28ba9f70a0/1547221197096/Upslope+-+2018Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($EVR, $BLD, $JE.LN, $DLTR, $KWR, $YETI, $MKTX, $TSLA)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global</a></li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/4Q18_Value%20Matters.pdf?1557519727747" target="_blank">Weitz Investment</a></li><li><a href="http://wiedowercapital.com/files/Letter2018.pdf" target="_blank">Wiedower Capital</a> - ($TRUP, $JD, $ISDR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/33abc1df-abe9-49a8-aef3-cc6058c2948d/WOSF_Partner_Letter_January_22_2019.pdf" target="_blank">Willow Oak Select Fund</a> - ($BEL)</li></ul><br /><br /><div><span style="font-size: large;">3rd Quarter 2018</span></div><br /><div style="font-family: "times new roman"; margin: 0px;"><div style="font-family: "Times New Roman";"><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5bc79a54eef1a1e334de4634/1539807830450/Q3+2018+Alta+Fox+Capital+Quarterly+Letter+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($XPEL, $TPNL, $UWN)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q3-2018-Letter-to-Partners-10.29.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $OTEL, $MMAC, $CTRA, $BXC, $RAMPF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-3q-2018-partner-letter-X34TP2Oe" target="_blank">Artko Capital</a> - ($TWNKW, $RSSS)</li><li><a href="https://www.baronfunds.com/sites/default/files/Quarterly%20Report%209.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $SSTK, $MIK, $PLOW, $GNTX, $OI, $APAM, $QUOT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/11/2018-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($LAWS, $BECN, $BXC, $YELP, $DEST)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5bb318fa15fcc0a9cd511971/1538463995185/2018Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FTV, $FERGY, $CCF, $ROP, $FRC, $AMADY, $CMCSA, $SIRI, $AON)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2018/" target="_blank">Ensemble Fund</a> - ($TRUP, $BKNG)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5be1e3a60e2e72c05e5cdd4b/1541530534947/Greenhaven+Road+-+2018+Q3+Final_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $TRIP, $YELP, $EVI, $BOX)</li><li><a href="https://www.docdroid.net/MfMnIs3/greenlight-capital-q3-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.10.10-Q3-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TRIP, $TI)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q3.pdf" target="_blank">Hayden Capital</a> - ($MKL, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TLRY, $BRY, $SRCI, $AXAS, $CCS)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/3Q18-Longleaf-Partners-Funds-Shareholder-Letter.pdf" target="_blank">Longleaf Partners Fund</a> - ($CTL, $BEL, $OCINF)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0918.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/U.S.%20Small%20Company%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/q32018-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($PYPL, $WBA)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_890d215dee47497ba91e2a46ad7aa95a.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAREX-3Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($BKG.L, $JBGS, $CHKGF)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/11/TASCX-3Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $ASIX, $MYRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAVFX-3Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($TDW, $CHKGF, $BZZFF, $DB)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5bc894958165f5a62a1e5c6a/1539871893976/Upslope+-+2018Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($CWH, $TSLA, $MKTX)</li></ul></div></div><div style="font-family: "times new roman"; margin: 0px;"><br /></div><br /><span style="font-size: large;">2nd Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5b57bd2988251bd8777d5ee0/1532476738546/Q2+2018+Alta+Fox+Capital+Quarterly+Letter.docx.pdf" target="_blank">Alta Fox Capital Management</a> - (T$PNL, $XPLT)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q2-2018-Letter-to-Partners-7.20.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $SCOO, $NUVR, $MMAC)</li><li><a href="https://www.dropbox.com/s/ga6p199nuv30j9i/Andvari-2018q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($TTD, $APPN, $TCEHY, $MKTX, $GOOG)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAKE, $TISI, $TGNA)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-2q-2018-partner-letter-wARTJpDv" target="_blank">Artko Capital</a> - ($EEI, $ROSEW/ROSEU, $WFCF, $FRD)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%206.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_6_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $KN, $OI, $APAM, $CNK, $PLOW, $MIK, $CSOD, $EXLS)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/464760b7-cb8c-4974-98ae-c9ff09e5f2c8/0718_BCM_Partner_Letter_Q2_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($KT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/08/2018-Q2-CEF-Investor-Letter_WEBSITE-PDF.pdf" target="_blank">Choice Equities Fund</a> - ($CMG, $REED, $BECN)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5b38349e2b6a280422fa91ba/1530410142957/2018Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SAPIF, $TTNDY, $MKSI, $CMCSA, $PNR, $CIGI, $BAX, $SPGI)</li><li><a href="http://east72.com.au/wp-content/uploads/2018/07/E72-Quarterly-Report-June-2018.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $UCPLF, $ELFIF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2018/" target="_blank">Ensemble Fund</a> - ($LB, $PBH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q2-letter_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://gatorcapital.com/wp-content/uploads/2018/07/20180723-GFP-2018-Q2-Letter.pdf" target="_blank">Gator Capital Management</a> - ($AMP)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5b5b790daa4a9904b4e75eb0/1532721421547/Greenhaven+%282018+Q2%29_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $YELP, $CSSE)</li><li><a href="https://www.docdroid.net/xz9WkeV/greenlight-capital-q2-2018-letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.07.18-Q2-2018-Letter-v2.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TI)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS)</li><li><a href="https://www.docdroid.net/KyxH0f8/laughing-water-capital-h118.pdf" target="_blank">Laughing Water Capital</a> - ($EZPW, $FCAU, $CDMO, $CWH, $RMNI/$RMNIW)</li><li><a href="https://www.docdroid.net/PctUQHa/maran-partners-fund-lp-2018-2q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $LOV)</li><li><a href="https://drive.google.com/file/d/1n2UY-hQd8QEPzidhsQFL2lyeBngGsdPw/view" target="_blank">MPE Capital</a></li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0618.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/US-Small-Company-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/08/Q2-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($EQIX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2018/07/Co-Investor_Letter_H1_2018-EN.pdf" target="_blank">RV Capital</a> - (AddLife, PSG Group)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_6b3f18269c334631a75ac584d4276af6.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAREX-2Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FPH, $LEN)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TASCX-2Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAVFX-2Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCTPF, $KKWFF, $BCAUY, $HA</li><li><a href="http://wiedowercapital.com/files/Letter1H18.pdf" target="_blank">Wiedower Capital</a> - ($JD)</li></ul><br /><div><br /><span style="font-size: large;">1st Quarter 2018</span><br /><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q1-2018-Letter-to-Partners-4.23.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $OTEL, $LICT, $MMAC $BXC)</li><li><a href="https://www.docdroid.net/90TaM6T/arquitos-investor-letter-q1-2018.pdf" target="_blank">Arquitos Capital Management</a> - ($SYTE, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-1q-2018-partner-letter-wPZT33Kb" target="_blank">Artko Capital</a> - ($HTM, $GAIA, $HDSN, $SKY)</li><li><a href="https://doc.morningstar.com/Document/a444b3ab802f4a0c076025c4dee1cd5a.msdoc/original?clientid=globaldocuments&key=52dbc583e1012395" target="_blank">Ariel Funds</a> - ($KEYS, $MHK, $OAK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $ELY, $EPAY, $CMP, $MIK, $MG)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2249ec23-e80d-46a8-9f65-846264852383/0418__BCM_Partner_Letter_Q1_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TI, $TOO)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ada7a78575d1f52aa6e679d/1524267640733/2018Q1.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SPGI, $CME, $CMCSA, $SPB)</li><li><a href="https://www.docdroid.net/S613L8e/1q-2018-dane-investor-letter.pdf" target="_blank">Dane Capital Management</a> - ($DSKE, $IEA, $LAZY, $LMB, $YTRA, $EVI)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2018/" target="_blank">Ensemble Fund</a> - ($NFLX, $DNOW)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q1-letter_vfinal.pdf#page=2" target="_blank">FPA Capital Fund</a> - ($WDC, $TEN, $ALGT)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q1-2018-vfinal.pdf#page=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ae7bf98f950b7272142f5c2/1525137305236/Greenhaven+2018+Q1+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $BXC)</li><li><a href="https://www.docdroid.net/K95Fju3/greenlight-capital-q1-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.05.11-Q1-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $RYCEY, $VIVHY)</li><li><a href="https://www.docdroid.net/81jd56q/laughing-water-capital-q1-2018.pdf" target="_blank">Laughing Water Capital</a> - ($BXC, $OCN, $TRC, $GHL, $ITI, $GAIA)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Documents/1Q18-Longleaf-Partners-Quarterly-Summary-Report-All-Funds.pdf" target="_blank">Longleaf Partners</a></li><li><a href="https://www.docdroid.net/eFTaTcE/maran-partners-fund-lp-2018-1q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $IAC, $ATTO)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0318.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/05/Q1-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($DIS, $RAMP)</li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q18.pdf" target="_blank">RiverPark Large Growth Fund</a></li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rpfvf/commentary/RiverPark_Focused_Value_1Q18_SH_Letter.pdf" target="_blank">RiverPark Focused Value Fund</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_64caf8ca6a264972923df8b202415b9a.pdf" target="_blank">Saga Partners</a> - ($ESI, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAREX-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($AKR, $SRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TASCX-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($FRPH, $WEDXF. $SMHI)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAVFX-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BDRLF, $KKWFF, $BMWYY)</li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2018/04/VVP-Quarterly-Commentary-18.03.31.pdf" target="_blank">Vulcan Value Partners</a></li></ul></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-20005127655953676722023-04-30T17:46:00.060-04:002023-06-13T13:43:01.444-04:00Full Lists of Investment Letters<script async="" crossorigin="anonymous" src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-1039680221405690"></script>
<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">1st Quarter 2023</span>
<hr />
<h2>If you enjoy going through 13-F filings, take look at Q1 2023 for the <a href="https://lettersandreviews.blogspot.com/p/q1-2023-13f.html" target="_blank">13-f filers</a> i read on regular basis.</h2>
<h2>Enjoy!!!</h2>
<br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th>
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<tr><td><a href="https://east72.com.au/wp-content/uploads/2023/04/E72DT-QUARTERLY-REPORT-Mar-2023.pdf">East72 Dynasty Trust</a></td><td>4/03/2023</td><td><a href="https://roic.ai/company/BAIN.PA " target="_blank">BAIN.PA </a><a href="https://roic.ai/company/VWAGY" target="_blank">VWAGY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://stjic.com/wp-content/uploads/2023/04/STJIC-Adviser-Letter-2023-Q1-v2.pdf">St. James Investment Company </a></td><td>4/06/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/642e7873a1ee6b44bd6933e3/1680767092090/Q12023.pdf">Comus Investments</a></td><td>4/06/2023</td><td><a href="https://roic.ai/company/1023.HK " target="_blank">1023.HK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_c0d0844318294a93b988e858fd3274da.pdf">Palm Valley Capital Fund</a></td><td>4/06/2023</td><td><a href="https://roic.ai/company/CRD-A " target="_blank">CRD-A </a><a href="https://roic.ai/company/CRD-B " target="_blank">CRD-B </a><a href="https://roic.ai/company/MLR " target="_blank">MLR </a><a href="https://roic.ai/company/GENC" target="_blank">GENC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.boyarvaluegroup.com/wp-content/uploads/2023/04/BVG_letter_2023_Q1.pdf">Boyar Value Group</a></td><td>4/07/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.vltavafund.com/dopisy-akcionarum/allocation">Vltava Fund</a></td><td>4/07/2023</td><td><a href="https://roic.ai/company/JFBHF" target="_blank">JFBHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/f3dfc645-8afe-0274-a808-6c7ff4fd996b/First_Quarter_2023_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td>4/08/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/8fe1787b-e848-89c6-54f4-6997a2d868c9/March_2023_Investor_Letter_Who_will_fill_the_voidvfin.pdf">Richie Capital Group</a></td><td>4/11/2023</td><td><a href="https://roic.ai/company/PERI " target="_blank">PERI </a><a href="https://roic.ai/company/FIX " target="_blank">FIX </a><a href="https://roic.ai/company/MSCI " target="_blank">MSCI </a><a href="https://roic.ai/company/AMT " target="_blank">AMT </a><a href="https://roic.ai/company/ATEN " target="_blank">ATEN </a><a href="https://roic.ai/company/AMT" target="_blank">AMT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.lrtcapital.com/wp-content/uploads/2023/04/2023-03-March-Investor-Update.pdf?utm_source=newsletter&utm_medium=email&utm_term=2023-04-11&utm_campaign=LRT+Capital+March+2023+-+Investor+Update">LRT Capital</a></td><td>4/11/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2023_03_15.pdf">Myrmikan Research</a></td><td>4/11/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fmimgt.com/fmi/corp/Letters/iso_20230331.pdf">Fiduciary Management Inc.</a></td><td>4/11/2023</td><td><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/FBIN " target="_blank">FBIN </a><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://gbcvalue.com/wp-content/uploads/2023/04/2023-Q1_Gehlen-Braeutigam-Value-HI-%E2%80%93-Letter-to-Partners-19-EN.pdf">Gehlen Bräutigam Capital GmbH</a></td><td>4/12/2023</td><td><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/GYYMF " target="_blank">GYYMF </a><a href="https://roic.ai/company/0OPA.L " target="_blank">0OPA.L </a><a href="https://roic.ai/company/SEIGY " target="_blank">SEIGY </a><a href="https://roic.ai/company/SKB.DE " target="_blank">SKB.DE </a><a href="https://roic.ai/company/HLFFF " target="_blank">HLFFF </a><a href="https://roic.ai/company/KSB.DE" target="_blank">KSB.DE</a><a href="https://roic.ai/company/KSB.DE" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rowanstreet.com/post/rowan-street-q1-2023-letter">Rowan Street Capital</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/TTD" target="_blank">TTD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.akrefund.com/wp-content/uploads/2023/04/Akre-Focus-Fund-Quarterly-Commentary-2023-Q1.pdf#page=1">Akre Focus Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://lvsadvisory.com/wp-content/uploads/2023/04/LVS-Advisory-Letter-Q1-2023.pdf">LVS Advisory</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/ABMD-CVR " target="_blank">ABMD-CVR </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/JYNT " target="_blank">JYNT </a><a href="https://roic.ai/company/GOGO " target="_blank">GOGO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/1Q23-Mid-Cap-Comm">Heartland Mid Cap Value Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/CNC " target="_blank">CNC </a><a href="https://roic.ai/company/INGR " target="_blank">INGR </a><a href="https://roic.ai/company/IBKR " target="_blank">IBKR </a><a href="https://roic.ai/company/TDC" target="_blank">TDC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/1Q23-Value-Fund-Comm">Heartland Value Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/FIBK " target="_blank">FIBK </a><a href="https://roic.ai/company/CGAU " target="_blank">CGAU </a><a href="https://roic.ai/company/NSA " target="_blank">NSA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/1Q23-VP-Comm">Heartland Value Plus Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/AVNS" target="_blank">AVNS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://img1.wsimg.com/blobby/go/c10d5993-4abc-4a97-baea-c72b4e5c6857/Q1%202023.pdf">Ace River Capital</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/HZO" target="_blank">HZO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-fund-first-calendar-quarter-2023/">Oakmark Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/KR " target="_blank">KR </a><a href="https://roic.ai/company/TFC " target="_blank">TFC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-calendar-quarter-2023/">Oakmark Global Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/CGEMY " target="_blank">CGEMY </a><a href="https://roic.ai/company/COF " target="_blank">COF </a><a href="https://roic.ai/company/COP " target="_blank">COP </a><a href="https://roic.ai/company/ICE " target="_blank">ICE </a><a href="https://roic.ai/company/NVST" target="_blank">NVST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-calendar-quarter-2023/">Oakmark Global Select Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/GOOG" target="_blank">GOOG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-fund-first-calendar-quarter-2023/">Oakmark International Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/CON.DE " target="_blank">CON.DE </a><a href="https://roic.ai/company/GLCNF " target="_blank">GLCNF </a><a href="https://roic.ai/company/ERFSF " target="_blank">ERFSF </a><a href="https://roic.ai/company/BNTGF" target="_blank">BNTGF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-first-calendar-quarter-2023/">Oakmark International Small Cap Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/TMVWY " target="_blank">TMVWY </a><a href="https://roic.ai/company/OSP2.DE " target="_blank">OSP2.DE </a><a href="https://roic.ai/company/CIGI " target="_blank">CIGI </a><a href="https://roic.ai/company/KSANF " target="_blank">KSANF </a><a href="https://roic.ai/company/MEDX.SW" target="_blank">MEDX.SW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-calendar-quarter-2023/">Oakmark Select Fund</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="http://covestreetfunds.com/wp-content/uploads/2023/04/CSCAX_2023-03-31_Shareholder_Letter_Final.pdf">Cove Street Capital</a></td><td>4/13/2023</td><td><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/SSP " target="_blank">SSP </a><a href="https://roic.ai/company/NUVA " target="_blank">NUVA </a><a href="https://roic.ai/company/HNRG " target="_blank">HNRG </a><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/CLMB " target="_blank">CLMB </a><a href="https://roic.ai/company/CLMB " target="_blank">GLDD </a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTYX-APDYX-APHYX-QCommentary-1Q23-vR.pdf">Artisan Developing World Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/SE" target="_blank">SE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2023Q1.pdf">Frontaura Global Frontier Fund LLC </a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.righttailcapital.com/_files/ugd/9593df_636c8638dfa24341b4a23ebd4ffd47c6.pdf">Right Tail Capital</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/LAD" target="_blank">LAD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonDividendIncome-ISL.pdf">Madison Dividend Income Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/UPS " target="_blank">UPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonInvestorsFund-ISL.pdf">Madison Investors Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/USB " target="_blank">USB </a><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonMidCap-ISL.pdf">Madison Mid Cap Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSmallCap-ISL.pdf">Madison Small Cap Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://madisonfunds.com/wp-content/uploads/MadisonSustainableEquityFund-ISL.pdf">Madison Sustainable Equity Fund</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/LLY " target="_blank">LLY </a><a href="https://roic.ai/company/DHR " target="_blank">DHR </a><a href="https://roic.ai/company/ORCL" target="_blank">ORCL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/64368ee6b157b05bc0ccb151/1681297127076/Q1%2723+letter.pdf">1 Main Capital Partners</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/DNTL " target="_blank">DNTL </a><a href="https://roic.ai/company/LMB " target="_blank">LMB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/635cafa2259a125cc55eae33/t/64387c7cf1e5c4626d787d38/1681423485063/Atai+Capital+-+Q1-2023+Letter.pdf">Atai Capital Management</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/ALOT " target="_blank">ALOT </a><a href="https://roic.ai/company/ATVI " target="_blank">ATVI </a><a href="https://roic.ai/company/CABO " target="_blank">CABO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.ithakagroup.com/_files/ugd/a80814_a0e88abb324448e5997e79b84d68c740.pdf">The Ithaka Group</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/MSFT " target="_blank">MSFT </a><a href="https://roic.ai/company/ISRG " target="_blank">ISRG </a><a href="https://roic.ai/company/SNOW " target="_blank">SNOW </a><a href="https://roic.ai/company/DXCM" target="_blank">DXCM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://wedgewoodpartners.com/wp-content/uploads/2023/04/1Q2023ClientLetter.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/SPGI " target="_blank">SPGI </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TSM " target="_blank">TSM </a><a href="https://roic.ai/company/TSM " target="_blank">GOOG </a></td></tr>
<tr><td><a href="https://distillatecapital.com/wp-content/uploads/2023/04/Q1-2023-Letter.pdf">Distillate Capital</a></td><td>4/14/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/643cc7de74206766c2cfe31a/1681704926120/2023+Q1.pdf">Blue Tower Asset Management</a></td><td>4/17/2023</td><td><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2023/04/1Q-2023-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://smeadcap.com/wp-content/uploads/2023/04/1Q-2023-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/643d46ae3621b5582b786995/1681737391548/Upslope+-+2023Q1+Letter.pdf">Upslope Capital Management</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/FTT.TO" target="_blank">FTT.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2023/">Cooper Investors Global Equity Fund (Hedged)</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2023/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td>4/18/2023</td><td><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://files.constantcontact.com/e71b08bb301/f100647c-b579-4eb1-b182-0d9553ac3403.pdf?rdr=true">Bernzott Capital Advisors</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/GVA " target="_blank">GVA </a><a href="https://roic.ai/company/ATSG " target="_blank">ATSG </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/HLMN " target="_blank">HLMN </a><a href="https://roic.ai/company/PTEN" target="_blank">PTEN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.oldwestim.com/_files/ugd/718a37_8cee40a0b4ec4b4486478e0b2e0d32be.pdf">Old West Capital Management</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/AFM " target="_blank">AFM </a><a href="https://roic.ai/company/BG " target="_blank">BG </a><a href="https://roic.ai/company/WLDBF" target="_blank">WLDBF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_7a31fdc7d2c343b9a5009b02ef61b2ef.pdf">Merion Road Capital</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/MWA " target="_blank">MWA </a><a href="https://roic.ai/company/WCC " target="_blank">WCC </a><a href="https://roic.ai/company/RFIL " target="_blank">RFIL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1681937498394">Miller Income Strategy</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/HDELY " target="_blank">HDELY </a><a href="https://roic.ai/company/MSTR " target="_blank">MSTR </a><a href="https://roic.ai/company/JXN " target="_blank">JXN </a><a href="https://roic.ai/company/VNA.DE " target="_blank">VNA.DE </a><a href="https://roic.ai/company/MPW " target="_blank">MPW </a><a href="https://roic.ai/company/VTRS" target="_blank">VTRS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervalue.com/dont-forget-value-and-small/">Miller Deep Value</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/MHO " target="_blank">MHO </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary.pdf">Polen Capital - Global Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/MSFT " target="_blank">MSFT </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/ABT " target="_blank">ABT </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/MA " target="_blank">MA </a><a href="https://roic.ai/company/MA " target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary.pdf">Polen Capital - Global SMID Company Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/GSHD " target="_blank">GSHD </a><a href="https://roic.ai/company/DAVA " target="_blank">DAVA </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary.pdf">Polen Capital - International Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/TLPFY " target="_blank">TLPFY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary.pdf">Polen Capital - International Small Company Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/FQVTF " target="_blank">FQVTF </a><a href="https://roic.ai/company/CMPUY " target="_blank">CMPUY </a><a href="https://roic.ai/company/KXSCF " target="_blank">KXSCF </a><a href="https://roic.ai/company/SVPLF " target="_blank">SVPLF </a><a href="https://roic.ai/company/MYTE " target="_blank">MYTE </a><a href="https://roic.ai/company/DAVA " target="_blank">DAVA </a><a href="https://roic.ai/company/JDG.L" target="_blank">JDG.L</a><a href="https://roic.ai/company/JDG.L" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary.pdf">Polen Capital - U.S. Small Company Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/WRBY " target="_blank">WRBY </a><a href="https://roic.ai/company/BMBL " target="_blank">BMBL </a><a href="https://roic.ai/company/ALIT " target="_blank">ALIT </a><a href="https://roic.ai/company/DCGO " target="_blank">DCGO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary.pdf">Polen Capital - U.S. SMID Company Growth</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/WRBY " target="_blank">WRBY </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/MPWR" target="_blank">MPWR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://millervalue.com/opportunity-equity-1q2023-commentary/">Miller Opportunity Equity</a></td><td>4/19/2023</td><td><a href="https://roic.ai/company/UBS " target="_blank">UBS </a><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.whitebrookcapital.com/1q2023-commentary">Whitebrook Capital Partners </a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/GPRE " target="_blank">GPRE </a><a href="https://roic.ai/company/RILY " target="_blank">RILY </a><a href="https://roic.ai/company/KAR " target="_blank">KAR </a><a href="https://roic.ai/company/MOS " target="_blank">MOS </a><a href="https://roic.ai/company/AFYA" target="_blank">AFYA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://ensemblefund.com/first-quarter-2023-investment-update/">Ensemble Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/RACE " target="_blank">RACE </a><a href="https://roic.ai/company/CMG " target="_blank">CMG </a><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.okeefestevens.com/wp-content/uploads/2023/01/Q1-2023-Value-Connection-Newsletter.pdf">O'Keefe Stevens</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-3.31.23.pdf">Baron Real Estate Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/BN " target="_blank">BN </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/RRR" target="_blank">RRR</a><a href="https://roic.ai/company/ARE " target="_blank">ARE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-3.31.23_0.pdf">Baron Discovery Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/DKNG " target="_blank">DKNG </a><a href="https://roic.ai/company/CERT " target="_blank">CERT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td>4/20/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2023/2023%20Q1%20Letter%20-Approved.pdf">Praetorian Capital </a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-3.31.23.pdf">Baron Health Care Fund</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/RXDX " target="_blank">RXDX </a><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/WST " target="_blank">WST </a><a href="https://roic.ai/company/DXCM " target="_blank">DXCM </a><a href="https://roic.ai/company/EXAS " target="_blank">EXAS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_CE.pdf">Aristotle - Core Equity</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/ZTS " target="_blank">ZTS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_FG.pdf">Aristotle - Focus Growth</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_IE-ADR.pdf">Aristotle - International Equity ADR</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_LCG.pdf">Aristotle - Large Cap Growth</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/ENPH " target="_blank">ENPH </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/BMRN " target="_blank">BMRN </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_SC.pdf">Aristotle - Small Cap Equity</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/HASI " target="_blank">HASI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_SMID.pdf">Aristotle - Small/Mid Cap Equity</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/HASI " target="_blank">HASI </a><a href="https://roic.ai/company/TFX " target="_blank">TFX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.aristotlecap.com/wp-content/uploads/2023/04/2023_1Q_Commentary_VE.pdf">Aristotle - Value Equity</a></td><td>4/21/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTTX-APDTX-APHTX-QCommentary-1Q23-vR.pdf">Artisan Focus Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTKX-APDKX-APHKX-QCommentary-1Q23-vR.pdf">Artisan International Value Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTMX-APDMX-APHMX-QCommentary-1Q23-vR.pdf">Artisan Mid Cap Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/MKTX " target="_blank">MKTX </a><a href="https://roic.ai/company/ROK " target="_blank">ROK </a><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/BSY " target="_blank">BSY </a><a href="https://roic.ai/company/AJG " target="_blank">AJG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTSX-APDSX-APHSX-QCommentary-1Q23-vR.pdf">Artisan Small Cap Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/SAIA " target="_blank">SAIA </a><a href="https://roic.ai/company/FOUR " target="_blank">FOUR </a><a href="https://roic.ai/company/MKTX " target="_blank">MKTX </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/CDMO" target="_blank">CDMO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/ARTLX-APDLX-APHLX-QCommentary-1Q23-vR.pdf">Artisan Value Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/PNC " target="_blank">PNC </a><a href="https://roic.ai/company/USB " target="_blank">USB </a><a href="https://roic.ai/company/BAX" target="_blank">BAX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2023.pdf">L1 Capital Long Short Fund</a></td><td>4/22/2023</td><td><a href="https://roic.ai/company/PDYPY " target="_blank">PDYPY </a><a href="https://roic.ai/company/NCMGY " target="_blank">NCMGY </a><a href="https://roic.ai/company/CSCCF " target="_blank">CSCCF </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/BLSFY " target="_blank">BLSFY </a><a href="https://roic.ai/company/QBIEY " target="_blank">QBIEY </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/AAPL " target="_blank">DOW.AX </a></td></tr>
<tr><td><a href="https://files.brontecapital.com/amalthea/Amalthea_Letter_202303.pdf">Bronte Capital</a></td><td>4/24/2023</td><td><a href="https://roic.ai/company/UBS " target="_blank">UBS </a><a href="https://roic.ai/company/FCNCA " target="_blank">FCNCA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.pzena.com/the-current-opportunity-in-small-caps-globally/">Pzena Investment Management</a></td><td>4/24/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://hoisington.com/pdf/HIM2023Q1NP.pdf">Hoisington Investment Management</a></td><td>4/24/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td>4/24/2023</td><td><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/SPSC " target="_blank">SPSC </a><a href="https://roic.ai/company/VERX " target="_blank">VERX </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/MEG " target="_blank">MEG </a><a href="https://roic.ai/company/XMTR" target="_blank">XMTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-3.31.23.pdf">Baron Asset Fund</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/PWR " target="_blank">PWR </a><a href="https://roic.ai/company/RGEN" target="_blank">RGEN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-3.31.23.pdf">Baron Partners Fund</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary.pdf">Polen Capital - Focus Growth</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/AMZN" target="_blank"></a></td></tr>
<tr><td><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2023/1q/APFDX-APDDX-APHDX-QCommentary-1Q23-vR.pdf">Artisan Global Discovery Fund</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/WST " target="_blank">WST </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/NTOIY" target="_blank">NTOIY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://l1international.com/wp-content/uploads/2023/04/L1-Capital-International-31-March-2023-Quarterly.pdf">L1 International Capital Fund</a></td><td>4/25/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://alluvialcapital.com/wp-content/uploads/2023/04/Alluvial-Capital-Management-Q1-2023-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/HPS-A.TO " target="_blank">HPS-A.TO </a><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/EACO " target="_blank">EACO </a><a href="https://roic.ai/company/SKTP " target="_blank">SKTP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/644872509e61401b01f36b78/1682469456611/Q1+2023+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/SODI " target="_blank">SODI </a><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638181382150000000">Weitz Partners III Opportunity Fund</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638181382150000000">Weitz Partners Value Fund</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638181382150000000">Weitz Value Fund</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/644972d37a6f3804fa997915/1682535124107/GCAM+2023+Q1+letter.pdf">Giverny Capital Asset Management</a></td><td>4/27/2023</td><td><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/ANET " target="_blank">ANET </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://docsend.com/view/xywtg28xbjt6vb36">Silver Beach Capital</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/ECNCF " target="_blank">ECNCF </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/ALLY " target="_blank">ALLY </a><a href="https://roic.ai/company/FCNCA " target="_blank">FCNCA </a><a href="https://roic.ai/company/GRBK" target="_blank">GRBK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q23_Investor_Letter.pdf">RiverPark Large Growth</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/LULU " target="_blank">LULU </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/SCHW " target="_blank">RNG </a></td></tr>
<tr><td><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q23_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/LULU " target="_blank">LULU </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.crescat.net/wp-content/uploads/Whistling-Past-the-Graveyard.pdf">Crestcat Capital</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2023-03.pdf?sfvrsn=be309f9d_4">FPA Crescent Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/HCMLF" target="_blank">HCMLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-qr-small-cap-value-fund-commentary-2023-03.pdf?sfvrsn=df339f9d_4">FPA Queens Road Small Cap Value Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/SFBS " target="_blank">SFBS </a><a href="https://roic.ai/company/AX" target="_blank">AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-value-fund/literature/fpa-qr-value-fund-commentary-2023-03.pdf?sfvrsn=2b319f9d_6">FPA Queens Road Value Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/fpa-us-core-fund-commentary-2023-03.pdf?sfvrsn=64309f9d_6">FPA U.S. Core Equity Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2023-q1.pdf">Alphyn Capital Management</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/WANSF " target="_blank">WANSF </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/PROSF " target="_blank">PROSF </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/ENOV " target="_blank">ENOV </a><a href="https://roic.ai/company/KMX" target="_blank">KMX </a><a href="https://roic.ai/company/KMX" target="_blank">BAM </a></td></tr>
<tr><td><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202303/Commentary-Small-Cap-Fund-2023-03-31.pdf?c=638183103050000000">Diamond Hill Small Cap Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/SAMG " target="_blank">SAMG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/644ad2944d60ad43588dc9c2/1682625172120/Q1+2023+Letter.pdf">Curreen Capital</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Emerging-Markets-Fund-Quarterly-Letter-3.31.23.pdf">Baron Emerging Markets Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/000858.SZ " target="_blank">000858.SZ </a><a href="https://roic.ai/company/PRNDY " target="_blank">PRNDY </a><a href="https://roic.ai/company/HINDUNILVR.NS " target="_blank">HINDUNILVR.NS </a><a href="https://roic.ai/company/TCS.NS " target="_blank">TCS.NS </a><a href="https://roic.ai/company/0L2T.L " target="_blank">0L2T.L </a><a href="https://roic.ai/company/051910.KS" target="_blank">051910.KS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-3.31.23_0.pdf">Baron Opportunity Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/MRVL " target="_blank">MRVL </a><a href="https://roic.ai/company/DXCM " target="_blank">DXCM </a><a href="https://roic.ai/company/GTLB" target="_blank">GTLB</a><a href="https://roic.ai/company/TSLA" target="_blank">TSLA</a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/INDI " target="_blank">INDI </a><a href="https://roic.ai/company/INDI " target="_blank"></a></td></tr>
<tr><td><a href="https://southeasternasset.com/commentary/1q23-partners-fund-commentary/">Longleaf Partners Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/FDX " target="_blank">FDX </a><a href="https://roic.ai/company/PVH " target="_blank">PVH </a><a href="https://roic.ai/company/LUMN" target="_blank">LUMN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southeasternasset.com/commentary/1q23-global-fund-commentary/">Longleaf Partners Global Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/FDX " target="_blank">FDX </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/LUMN" target="_blank">LUMN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southeasternasset.com/commentary/1q23-international-fund-commentary/">Longleaf Partners International Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/ACCYY " target="_blank">ACCYY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southeasternasset.com/commentary/1q23-small-cap-fund-commentary/">Longleaf Partners Small-Cap Fund</a></td><td>4/29/2023</td><td><a href="https://roic.ai/company/OSCR " target="_blank">OSCR </a><a href="https://roic.ai/company/H " target="_blank">H </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/qtd-large-cap-1q2023-vs-r1000/">The London Company - Large Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/CVX " target="_blank">CVX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/qtd-mid-cap-1q2023-vs-rmc/">The London Company - Mid Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/SWKS " target="_blank">SWKS </a><a href="https://roic.ai/company/CPRT " target="_blank">CPRT </a><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/MTB " target="_blank">MTB </a><a href="https://roic.ai/company/UNF " target="_blank">UNF </a><a href="https://roic.ai/company/HAS " target="_blank">HAS </a><a href="https://roic.ai/company/CBRE" target="_blank">CBRE</a><a href="https://roic.ai/company/CBRE" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/qtd-small-cap-1q2023-vs-r2000/">The London Company - Small Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/VNT " target="_blank">VNT </a><a href="https://roic.ai/company/AQUA " target="_blank">AQUA </a><a href="https://roic.ai/company/TPX " target="_blank">TPX </a><a href="https://roic.ai/company/LVN " target="_blank">LVN </a><a href="https://roic.ai/company/MUSA " target="_blank">MUSA </a><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/ENOV" target="_blank">ENOV</a><a href="https://roic.ai/company/ENOV" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tlcadvisory.com/qtd-smid-cap-1q2023-vs-r2500/">The London Company - Small-Mid Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/CHDN " target="_blank">CHDN </a><a href="https://roic.ai/company/LW " target="_blank">LW </a><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/MBI " target="_blank">MBI </a><a href="https://roic.ai/company/JKHY " target="_blank">JKHY </a><a href="https://roic.ai/company/STOR " target="_blank">STOR </a><a href="https://roic.ai/company/MUSA " target="_blank">MUSA </a><a href="https://roic.ai/company/MUSA " target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2023/04/First-Quarter-2023-SouthernSun-Small-Cap-Strategy-Composite-Commentary-3.pdf">SouternSun Small Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/BCO " target="_blank">BCO </a><a href="https://roic.ai/company/TKR " target="_blank">TKR </a><a href="https://roic.ai/company/LOB " target="_blank">LOB </a><a href="https://roic.ai/company/DAR " target="_blank">DAR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://southernsunam.com/wp-content/uploads/2023/04/First-Quarter-2023-SouthernSun-SMID-Cap-Composite-Commentary-4.pdf">SouternSun SMID Cap</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/WSO " target="_blank">WSO </a><a href="https://roic.ai/company/BCO " target="_blank">BCO </a><a href="https://roic.ai/company/DAR " target="_blank">DAR </a><a href="https://roic.ai/company/WRK " target="_blank">WRK </a><a href="https://roic.ai/company/LPX " target="_blank">LPX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/644a9f41a585964a74bc2eb2/1682612033653/Q1+2023+NZS+Letter.pdf">NZS Capital</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://andvariassociates.com/q1-2023-letter-tyler-technologies-is-ready-to-run">Andvari Associates</a></td><td>4/30/2023</td><td><a href="https://roic.ai/company/TYL" target="_blank">TYL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td>5/02/2023</td><td><a href="https://roic.ai/company/HSKA " target="_blank">HSKA </a><a href="https://roic.ai/company/GWRE " target="_blank">GWRE </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/XMTR " target="_blank">XMTR </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td>5/02/2023</td><td><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/MSFT " target="_blank">MSFT </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/LLY " target="_blank">LLY </a><a href="https://roic.ai/company/UNH " target="_blank">UNH </a><a href="https://roic.ai/company/ACHC" target="_blank">ACHC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td>5/09/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td>5/09/2023</td><td><a href="https://roic.ai/company/JLL " target="_blank">JLL </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/SVS.L " target="_blank">SVS.L </a><a href="https://roic.ai/company/INGEF " target="_blank">INGEF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td>5/09/2023</td><td><a href="https://roic.ai/company/WEDXF " target="_blank">WEDXF </a><a href="https://roic.ai/company/FRPH " target="_blank">FRPH </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/BATRA " target="_blank">BATRA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td>5/09/2023</td><td><a href="https://roic.ai/company/CMA " target="_blank">CMA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.greystonevalue.com/_files/ugd/47fd79_4bc7a737390344ceb68d07367503b878.pdf">Greystone Capital Management</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/GFF " target="_blank">GFF </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/POL " target="_blank">POL </a><a href="https://roic.ai/company/SYZLF " target="_blank">SYZLF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q23.pdf">Horos Funds</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/MG " target="_blank">MG </a><a href="https://roic.ai/company/PSHZF " target="_blank">PSHZF </a><a href="https://roic.ai/company/EAT.WA " target="_blank">EAT.WA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_ec282b58db5c405ca4f87cea282120f5.pdf">Arch Capital Fund</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mcjcapitalpartners.com/q1-2023-update">MCJ Capital Partners</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://headwaterscapmgmt.com/wp-content/uploads/2023/04/HCM-Q1-23-Investor-Letter.pdf">Headwaters Capital</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/EYE" target="_blank">EYE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/645bce3568de4156b7afd2d8/1683738165531/Laughing+Water+Capital+Q1%2723+LFCR-final.pdf">Laughing Water Capital</a></td><td>5/10/2023</td><td><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.deepsailcapital.com/_files/ugd/50dba3_d22e0841d600457f969ecafd70a016bf.pdf">Deep Sail Capital</a></td><td>5/11/2023</td><td><a href="https://roic.ai/company/MELI " target="_blank">MELI </a><a href="https://roic.ai/company/LEAT " target="_blank">LEAT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/645415b13f8e364f90a6052e/1683232177772/Nordstern+Capital+1Q2023+partnership+memo.pdf">Nordstern Capital</a></td><td>5/11/2023</td><td><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/ASTL " target="_blank">ASTL </a><a href="https://roic.ai/company/ERJ " target="_blank">ERJ </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=4Q2022">Ave Maria Funds</a></td><td>5/11/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Growth-Fund-Quarterly-Letter-3.31.23.pdf">Baron Fifth Avenue Growth Fund</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/NET " target="_blank">NET </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20230331.pdf">Rondure Global</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://donvillekent.com/wp-content/uploads/2023/05/DKAM-ROE-Reporter-April-2023-Final.pdf">Donville Kent Asset Management</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/RTMNF " target="_blank">RTMNF </a><a href="https://roic.ai/company/TCX " target="_blank">TCX </a><a href="https://roic.ai/company/KUT.V " target="_blank">KUT.V </a><a href="https://roic.ai/company/GSY.TO " target="_blank">GSY.TO </a><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/NVEI " target="_blank">NVEI </a><a href="https://roic.ai/company/VHIBF" target="_blank">VHIBF</a><a href="https://roic.ai/company/VHIBF" target="_blank"></a></td></tr>
<tr><td><a href="https://vulcanvaluepartners.com/core/uploads/2023/04/VVP-Quarterly-Letter-23.03.31-FINAL.pdf">Vulcan Value Partners</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/645c493b618e556818733cdc/1683769659460/Maran+Partners+Fund+LP+2023+1Q+Letter.pdf">Maran Capital Management</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/DK " target="_blank">DK </a><a href="https://roic.ai/company/RNGR " target="_blank">RNGR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/c3f2e1e3-49d6-4a6c-d067-53670e27055d/SilverRingValuePartners_2023Q1_Letter_b.pdf">Silver Ring Value Partners</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/OI " target="_blank">OI </a><a href="https://roic.ai/company/GTXAP " target="_blank">GTXAP </a><a href="https://roic.ai/company/AIM.TO " target="_blank">AIM.TO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/644ffc9a857b8e4c6fe18b5d/1682963610567/2023.Q1+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/LAC " target="_blank">LAC </a><a href="https://roic.ai/company/EQX " target="_blank">EQX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_1Q_2023.pdf">Saltlight Capital </a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/644bf0f3f5855f2f397e989b/1682698483965/Kinsman+Oak+-+Q1+2023+Letter+vCommentary.pdf">Kinsman Oak Equity Fund</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/6463e51fc22ddc3d0b6189c9/1684268319477/2023+Q1_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/PLYA " target="_blank">PLYA </a><a href="https://roic.ai/company/ASO " target="_blank">ASO </a><a href="https://roic.ai/company/ECNCF " target="_blank">ECNCF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.appleseedfund.com/wp-content/uploads/2023/04/2023-Semi-Annual-Letter.pdf">Appleseed Fund</a></td><td>5/15/2023</td><td><a href="https://roic.ai/company/MDT " target="_blank">MDT </a><a href="https://roic.ai/company/SWK " target="_blank">SWK </a><a href="https://roic.ai/company/SNV " target="_blank">SNV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202023%20FINAL.pdf">Tweedy Browne</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/6452638f2eb3d251647476f1/1683121039715/1Q23+letter+final.pdf">Long Cast Advisers </a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/PESI " target="_blank">PESI </a><a href="https://roic.ai/company/MTRX " target="_blank">MTRX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://dmzpartners.in/Documents/Files/DMZ-2857-DMZ-Partners-Year-End-Letter-FY-22-23-(Redacted-Version).pdf">DMZ Partners</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.palmharbourcapital.com/files/PHC_Letter_Q1_2023_FINAL_ENG.pdf">Palm Harbour Capital</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/TKAGY " target="_blank">TKAGY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://horizonkinetics.com/app/uploads/Q1-2023-Commentary_FINAL.pdf">Horizon Kinetics</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/PREKF " target="_blank">PREKF </a><a href="https://roic.ai/company/TRC " target="_blank">TRC </a><a href="https://roic.ai/company/LAND " target="_blank">LAND </a><a href="https://roic.ai/company/AND.TO " target="_blank">AND.TO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.fairlightcapital.com/_files/ugd/a6cb30_b629d9c2917d4de989b7a667b7956d17.pdf">Fairlight Alpha Fund LP</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/OPRA " target="_blank">OPRA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcvalueblog.files.wordpress.com/2023/05/mcintyre-partnerships-q1-2023-letter-publishing.pdf?force_download=true">McIntyre Partnerships</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/STHO " target="_blank">STHO </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/SPHR" target="_blank">SPHR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://mcusercontent.com/3fff1ea9d792aab7f6dffe0ab/files/95158614-509e-3a40-9096-269614fb88fe/Sohra_Peak_Capital_Partners_Partnership_Letter_Q1_2023.pdf">Sohra Peak Capital Partners</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/DUR.AX" target="_blank">DUR.AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/6452a6aec90b9820a50e74da/1683138222774/Greenhaven+Road+%282023+Q1%29+Quarterly+Letter_.pdf">Greenhaven Road Capital</a></td><td>5/19/2023</td><td><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/BNED " target="_blank">BNED </a><a href="https://roic.ai/company/BNED " target="_blank"></a></td></tr>
<tr><td><a href="https://gatorcapital.com/wp-content/uploads/2023/05/20230425-GFP-2023-Q1-Letter-1.pdf">Gator Capital Management</a></td><td>5/23/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_1Q23_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td>5/23/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static.fmgsuite.com/media/documents/1ce2321f-d5c2-458e-93ba-9d546be8370e.pdf">Conestoga Capital Advisors, LLC</a></td><td>5/23/2023</td><td><a href="https://roic.ai/company/DGII " target="_blank">DGII </a><a href="https://roic.ai/company/EXPO " target="_blank">EXPO </a><a href="https://roic.ai/company/BSY " target="_blank">BSY </a><a href="https://roic.ai/company/PCOR" target="_blank">PCOR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.arielinvestments.com/wp-content/uploads/2022/12/ArielInvestmentTrustSemiAnnualReport033123.pdf">Ariel Trust Funds</a></td><td>5/23/2023</td><td><a href="https://roic.ai/company/BIDU " target="_blank">BIDU </a><a href="https://roic.ai/company/LESL " target="_blank">LESL </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/SRCL" target="_blank">SRCL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/64790b2cd3986c12d93cf4aa/1685654316748/Bonsai+Partners+Fund+Q1+2023+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td>6/02/2023</td><td><a href="https://roic.ai/company/HWDJY" target="_blank">HWDJY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2023/HL-EM-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner Emerging Markets Equity</a></td><td>6/02/2023</td><td><a href="https://roic.ai/company/KAKZF " target="_blank">KAKZF </a><a href="https://roic.ai/company/GLOB" target="_blank">GLOB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2023/HL-Global-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner Global Equity</a></td><td>6/02/2023</td><td><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/NOC" target="_blank">NOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-3.31.23.pdf">Baron FinTech Fund</a></td><td>6/02/2023</td><td><a href="https://roic.ai/company/IBKR " target="_blank">IBKR </a><a href="https://roic.ai/company/APO " target="_blank">APO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://d1io3yog0oux5.cloudfront.net/_7f0f3f83a18cc8c3dfb533da32512621/180degreecapital/db/373/2891/letter_to_shareholders/Q1+2023+Shareholder+Letter+-+Final.pdf">180 Degree Capital Corp.</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/PBPB " target="_blank">PBPB </a><a href="https://roic.ai/company/ALTG " target="_blank">ALTG </a><a href="https://roic.ai/company/SNCR " target="_blank">SNCR </a><a href="https://roic.ai/company/IVAC " target="_blank">IVAC </a><a href="https://roic.ai/company/AREN " target="_blank">AREN </a><a href="https://roic.ai/company/QBTS " target="_blank">QBTS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.rgaia.com/wp-content/uploads/2023/05/RGAIA-Investment-Commentary-Q1-2023.pdf">RGA Investment Advisors</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://assets.thirdpointlimited.com/f/166217/x/a4928be28f/third-point-q1-2023-investor-letter-tpil.pdf">Third Point Offshore Fund</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/UBS " target="_blank">UBS </a><a href="https://roic.ai/company/GOOGL " target="_blank">GOOGL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://palmcapital.co.za/wp-content/uploads/2023/05/2023Q1-Commentary.pdf">Palm Capital</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/GOOGL" target="_blank">GOOGL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://wedgewoodpartners.com/wp-content/uploads/2023/05/Wedgewood-Partners-SMID-Letter-1Q2023.pdf">Wedgewood Partners Focus SMID Cap</a></td><td>6/03/2023</td><td><a href="https://roic.ai/company/JBHT " target="_blank">JBHT </a><a href="https://roic.ai/company/LSTR " target="_blank">LSTR </a><a href="https://roic.ai/company/SAIA " target="_blank">SAIA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-3.31.23.pdf">Baron Growth Fund</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/DNUT " target="_blank">DNUT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-3.31.23.pdf">Baron Small Cap Fund</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/CLVT" target="_blank">CLVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2023/HL-Global-Small-Cos-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner Global Small Companies</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/SNR.L " target="_blank">SNR.L </a><a href="https://roic.ai/company/PDX.ST " target="_blank">PDX.ST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2023/HL-Intl-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner International Equity</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/HLN" target="_blank">HLN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2023/HL-Intl-Small-Cos-Equity-Quarterly-Report-1Q23.pdf">Harding Loevner International Small Companies Equity</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/SNR.L " target="_blank">SNR.L </a><a href="https://roic.ai/company/PDX.ST " target="_blank">PDX.ST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://evermoreglobal.com/assets/pdfs/Evermore_Commentary_Q1_2023.pdf">Evermore Global Value Fund</a></td><td>6/12/2023</td><td><a href="https://roic.ai/company/DHT " target="_blank">DHT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://4043042.fs1.hubspotusercontent-na1.net/hubfs/4043042/Content%20Offers/2023.Q1%20Commentary/2023.Q1%20Goehring%20and%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td>6/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Growth_Fund_Commentary.pdf">Mairs & Power Growth Fund</a></td><td>6/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td><a href="https://www.mairsandpower.com/images/resources/Small_Cap_Fund_Commentary.pdf">Mairs & Power Small Cap Fund</a></td><td>6/13/2023</td><td><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">4th Quarter 2022</span>
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<th>Stocks Mentioned</th></tr>
</thead>
<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2023/01/STJIC-Adviser-Letter-2022-Q4.pdf">St. James Investment Company </a></td><td width="14%">1/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_73_en.pdf">Vltava Fund</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/ARW " target="_blank">ARW </a><a href="https://roic.ai/company/GOOG" target="_blank">GOOG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/63b601b8597b413059e65e27/1672872376450/Q42022.pdf">Comus Investments</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2023/01/QUARTERLY-REPORT-Dec-2022-WEB.pdf">East72 Holdings</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/MFG.AX" target="_blank">MFG.AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_fe019478d5bd467ba615a8f521fbfa18.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://concentratedcompounding.substack.com/p/2022-annual-letter">Concentrated Compounding*</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/TDG " target="_blank">TDG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/RADI " target="_blank">RADI </a><a href="https://roic.ai/company/CHTR" target="_blank">CHTR</a><a href="https://roic.ai/company/CHTR" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_888ee89906e54813afeebb4b26163507.pdf">Palm Valley Capital Fund</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/2022-q4-letter/">Moon Capital</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/DVA " target="_blank">DVA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-2022-year-end-letter">Rowan Street Capital</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://novelinvestor.com/2022-a-year-in-returns/">Novel Investor</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_c50ba975f9df4cab94d949c13bf05897.pdf">Merion Road Capital</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/CPRT " target="_blank">CPRT </a><a href="https://roic.ai/company/MWA " target="_blank">MWA </a><a href="https://roic.ai/company/WHG " target="_blank">WHG </a><a href="https://roic.ai/company/MHH " target="_blank">MHH </a><a href="https://roic.ai/company/UBAB" target="_blank">UBAB</a><a href="https://roic.ai/company/UBAB" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fairlightcapital.com/_files/ugd/a6cb30_4b516623824544d2b3f9a075da1358e5.pdf">Fairlight Alpha Fund LP</a></td><td width="14%">1/17/2023</td><td width="39%"><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/OPRA" target="_blank">OPRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_b5e09c9e75554a4ebe50235180d1f940.pdf">Old West Capital Management</a></td><td width="14%">1/17/2023</td><td width="39%"><a href="https://roic.ai/company/AEM " target="_blank">AEM </a><a href="https://roic.ai/company/GOLD " target="_blank">GOLD </a><a href="https://roic.ai/company/NG " target="_blank">NG </a><a href="https://roic.ai/company/SA " target="_blank">SA </a><a href="https://roic.ai/company/WDO.TO " target="_blank">WDO.TO </a><a href="https://roic.ai/company/MAI.V" target="_blank">MAI.V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1q-T-iXlixliNHaMe3HyJNnzCCzd3_yzy/view">Greenlight Capital</a></td><td width="14%">1/17/2023</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/DNMR " target="_blank">DNMR </a><a href="https://roic.ai/company/CEIX " target="_blank">CEIX </a><a href="https://roic.ai/company/TECK " target="_blank">TECK </a><a href="https://roic.ai/company/THC" target="_blank">THC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20221231.pdf">FMI All Cap Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20221231.pdf">FMI International Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20221231.pdf">FMI Large Cap Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20221231.pdf">FMI Small Cap Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2023/01/Akre-Focus-Fund-Quarterly-Commentary-2022-Q4.pdf#page=1">Akre Focus Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/CVX" target="_blank">CVX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/CLVT" target="_blank">CLVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/SMG " target="_blank">SMG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2023/01/L1-Capital-International-December-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/CABO " target="_blank">CABO </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/RNR" target="_blank">RNR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/AJRD " target="_blank">AJRD </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/PRMW" target="_blank">PRMW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/POWL " target="_blank">POWL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3177">Miller/Howard Investments</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2023/01/Q4-2022-Letter.pdf">Distillate Capital</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/fourth-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/MASI " target="_blank">MASI </a><a href="https://roic.ai/company/PAYX" target="_blank">PAYX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1Hx6Xr-tM9Mx3JIMPUxYayyELiAXyniTs/view">Tidefall Capital Management</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/FFXDF" target="_blank">FFXDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lvsadvisory.com/wp-content/uploads/2023/01/LVS-Advisory-Letter-Q4-2022.pdf">LVS Advisory</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/BLK " target="_blank">BLK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://marvistainvestments.com/wp-content/uploads/2023/01/MVSGF-Annual-f.pdf">Mar Vista Strategic Growth Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2023/01/4Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/8833525b-02a0-40e1-9695-9a9cd1a399f9.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q4NP.pdf">Hoisington Investment Management</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2023_01_13.pdf">Myrmikan Research</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/4q2022-commentary">Whitebrook Capital Partners </a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/GBX " target="_blank">GBX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/xiexie/">Miller Income Strategy</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/BKE " target="_blank">BKE </a><a href="https://roic.ai/company/HEI.DE " target="_blank">HEI.DE </a><a href="https://roic.ai/company/VTRS " target="_blank">VTRS </a><a href="https://roic.ai/company/RILY" target="_blank">RILY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/opportunity-equity-4q2022-commentary/">Miller Opportunity Equity</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2023/01/CSCAX_2022-12-31_Shareholder_Letter.final_.pdf">Cove Street Capital</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/IEHC " target="_blank">IEHC </a><a href="https://roic.ai/company/LTRPA " target="_blank">LTRPA </a><a href="https://roic.ai/company/HRG " target="_blank">HRG </a><a href="https://roic.ai/company/CLMB " target="_blank">CLMB </a><a href="https://roic.ai/company/VMD " target="_blank">VMD </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/IAC " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/63c824e82a86e2382f1aa168/1674061033668/Upslope+-+2022Q4+Letter.pdf">Upslope Capital Management</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/ATS.TO " target="_blank">ATS.TO </a><a href="https://roic.ai/company/BOKF " target="_blank">BOKF </a><a href="https://roic.ai/company/GLT " target="_blank">GLT </a><a href="https://roic.ai/company/EMG.L" target="_blank">EMG.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1doYYSAqWjmIRwcA4eDFOLstWR-MRohbM/view">Tourlite Capital Management</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/PRM " target="_blank">PRM </a><a href="https://roic.ai/company/VRRM" target="_blank">VRRM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/63ccf8a1a226f819f483af77/1674377377319/2022+Q4.pdf">Blue Tower Asset Management</a></td><td width="14%">1/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/HLN " target="_blank">HLN </a><a href="https://roic.ai/company/TKELY" target="_blank">TKELY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/63d1d8d183cf42640381af79/1674696913242/GCAM+2022+Q4+Letter.pdf">Giverny Capital Asset Management</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/PGR " target="_blank">PGR </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/COHR " target="_blank">COHR </a><a href="https://roic.ai/company/ERFSF " target="_blank">ERFSF </a><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/ANET " target="_blank">ANET </a><a href="https://roic.ai/company/ANET " target="_blank">GOOG </a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2022.pdf">L1 Capital Long Short Fund</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-12.31.22.pdf">Baron Health Care Fund</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/CI " target="_blank">CI </a><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/OPCH " target="_blank">OPCH </a><a href="https://roic.ai/company/MRNA " target="_blank">MRNA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/63d197a2ce28fd77bcc26e1c/1674680226625/Nordstern+Capital+4Q2022+partnership+memo.pdf">Nordstern Capital</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-12.31.22.pdf">Baron Real Estate Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/TOL " target="_blank">TOL </a><a href="https://roic.ai/company/LEN " target="_blank">LEN </a><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/SHW " target="_blank">SHW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=638101946440000000">Weitz Hickory Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638101946440000000">Weitz Partners III Opportunity Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638101946440000000">Weitz Partners Value Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638101946440000000">Weitz Value Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202212/Commentary-Small-Cap-Fund-2022-12-31.pdf?c=638102647540000000">Diamond Hill Small Cap Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/GHC " target="_blank">GHC </a><a href="https://roic.ai/company/FTAI " target="_blank">FTAI </a><a href="https://roic.ai/company/GTES " target="_blank">GTES </a><a href="https://roic.ai/company/ODC" target="_blank">ODC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q4.pdf">Alphyn Capital Management</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/WANSF " target="_blank">WANSF </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/ALVO " target="_blank">ALVO </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/BAM " target="_blank">W</a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/63cae1d5aa9fb46a85ae910e/1674240470057/2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/MGAG " target="_blank">MGAG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/63cfc4a0af00443cc82de164/1674560672628/Q4%2722+letter.pdf">1 Main Capital Partners</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/deep-value-4q-2022-letter/">Miller Deep Value</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/TUP " target="_blank">TUP </a><a href="https://roic.ai/company/MHO " target="_blank">MHO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitefalconcap.com/_files/ugd/2e6ec1_7e624046f21548888a3ecaf044b00e69.pdf">White Falcon Capital Management</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/AMD" target="_blank">AMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2022/">Oakmark Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/MGA " target="_blank">MGA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2022/">Oakmark Global Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/STJ.L" target="_blank">STJ.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2022/">Oakmark Global Select Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/COF" target="_blank">COF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-fourth-quarter-2022/">Oakmark International Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/AKZOY " target="_blank">AKZOY </a><a href="https://roic.ai/company/SDVKY " target="_blank">SDVKY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-fourth-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/KNCRY " target="_blank">KNCRY </a><a href="https://roic.ai/company/TOWR.JK " target="_blank">TOWR.JK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2022/">Oakmark Select Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/ORCL " target="_blank">ORCL </a><a href="https://roic.ai/company/ICE" target="_blank">ICE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_e6373377fc8c4196920f4efbcca7a7b7.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/GIL " target="_blank">GIL </a><a href="https://roic.ai/company/SHOO" target="_blank">SHOO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/2022%20Q4%20Letter%20-%20Approved.pdf">Praetorian Capital </a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcvalueblog.files.wordpress.com/2023/01/mcintyre-partnerships-q4-2022-letter-publishing.pdf?force_download=true">McIntyre Partnerships</a></td><td width="14%">1/31/2023</td><td width="39%"><a href="https://roic.ai/company/SHC " target="_blank">SHC </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/wp-content/uploads/2023/01/Andvari-2022q4-letter.pdf">Andvari Associates</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/CPRT " target="_blank">CPRT </a><a href="https://roic.ai/company/CSGP " target="_blank">CSGP </a><a href="https://roic.ai/company/DBRG " target="_blank">DBRG </a><a href="https://roic.ai/company/MLAB " target="_blank">MLAB </a><a href="https://roic.ai/company/SPGI " target="_blank">SPGI </a><a href="https://roic.ai/company/SPGI " target="_blank">TYL</a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/63d33583c261f420b34ac709/1674786182483/4Q22+letter+final.pdf">Long Cast Advisers </a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/ENVX " target="_blank">ENVX </a><a href="https://roic.ai/company/RSSS" target="_blank">RSSS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/63da6e12308d0f3b2f039126/1675259411073/Q4+2022+Letter.pdf">Curreen Capital</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/ASAI.ST " target="_blank">ASAI.ST </a><a href="https://roic.ai/company/WIX.L" target="_blank">WIX.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ip-capitalpartners.com/reports/jan2023/#idc-9">IP-Capital Partners</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/63d47310894c822d74c8efc8/1674867472947/Q4+2022+NZS+Letter.pdf">NZS Capital</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/TDG " target="_blank">TDG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/DDOG" target="_blank">DDOG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vgipartners.com/wp-content/uploads/2023/01/VG1-2023-01-31_Investor-Letter-Year-to-December-2022-1.pdf">VGI Partners Global Investments</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/CME " target="_blank">CME </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DBOEY " target="_blank">DBOEY </a><a href="https://roic.ai/company/CFRUY " target="_blank">CFRUY </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/DIS " target="_blank">DIS </a><a href="https://roic.ai/company/RNMBY " target="_blank">RNMBY </a><a href="https://roic.ai/company/RNMBY " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://gatorcapital.com/wp-content/uploads/2023/01/20230124-GFP-2022-Year-End-Letter.pdf">Gator Capital Management</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/CG " target="_blank">CG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.legacyridgecapital.com/wp-content/uploads/2023/01/LRCM-2022-Letter.pdf">Legacy Ridge Capital Management</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/EPD " target="_blank">EPD </a><a href="https://roic.ai/company/NRG " target="_blank">NRG </a><a href="https://roic.ai/company/VST " target="_blank">VST </a><a href="https://roic.ai/company/DCP " target="_blank">DCP </a><a href="https://roic.ai/company/SMLP " target="_blank">SMLP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/63d9cd83dd3e94195b8bcabb/1675218307153/Maran+Partners+Fund+LP+2022+4Q+Letter.pdf">Maran Capital Management</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/CLAR " target="_blank">CLAR </a><a href="https://roic.ai/company/CTT.LS " target="_blank">CTT.LS </a><a href="https://roic.ai/company/VTY.L " target="_blank">VTY.L </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/63db08bc72bc814cc05fb5e4/1675299004295/2022+Investor+Letter.pdf">Worm Capital</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-12.31.22.pdf">Baron Asset Fund</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/ICLR" target="_blank">ICLR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=4Q2022">Ave Maria Funds</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/NJDCY " target="_blank">NJDCY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2023/02/VVP-Annual-Letter-22.12.31.pdf">Vulcan Value Partners</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary.pdf">Polen Capital - Focus Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary.pdf">Polen Capital - Global Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/NOW " target="_blank">NOW </a><a href="https://roic.ai/company/EL " target="_blank">EL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary.pdf">Polen Capital - Global SMID Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary.pdf">Polen Capital - International Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/HDB " target="_blank">HDB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary.pdf">Polen Capital - International Small Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/TOI.V " target="_blank">TOI.V </a><a href="https://roic.ai/company/ERF.PA" target="_blank">ERF.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary.pdf">Polen Capital - U.S. SMID Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/OLPX" target="_blank">OLPX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/OLPX " target="_blank">OLPX </a><a href="https://roic.ai/company/RH" target="_blank">RH</a><a href="https://roic.ai/company/CCCS " target="_blank">CCCS </a><a href="https://roic.ai/company/FSV" target="_blank">FSV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2023/01/Alluvial-Capital-Management-Q4-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/APR.WA " target="_blank">APR.WA </a><a href="https://roic.ai/company/JOB " target="_blank">JOB </a><a href="https://roic.ai/company/RVIC " target="_blank">RVIC </a><a href="https://roic.ai/company/FTLF " target="_blank">FTLF </a><a href="https://roic.ai/company/SXP.TO" target="_blank">SXP.TO</a><a href="https://roic.ai/company/SXP.TO" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/3fff1ea9d792aab7f6dffe0ab/files/b8d66142-70b7-62da-891b-ffa88af747a3/Sohra_Peak_Capital_Partners_Letter_to_Partners_Q4_2022.01.pdf">Sohra Peak Capital Partners</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-partners-fund-commentary/">Longleaf Partners Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/CNX " target="_blank">CNX </a><a href="https://roic.ai/company/AMG " target="_blank">AMG </a><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/WBD " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-global-fund-commentary/">Longleaf Partners Global Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-international-commentary/">Longleaf Partners International Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-small-cap-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/WEST " target="_blank">WEST </a><a href="https://roic.ai/company/MSGS " target="_blank">MSGS </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/commentary/q4-2022-investment-commentary-trends-to-consider-and-lessons-learned/">RGA Investment Advisors</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_c7c08886d89d4cf89bb65db91e98e16e.pdf">Arch Capital Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q4.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2023/02/DKAM-ROE-Reporter-January-2023-Final.pdf">Donville Kent Asset Management</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/RET.V" target="_blank">RET.V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/DDOG " target="_blank">DDOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/PODD " target="_blank">PODD </a><a href="https://roic.ai/company/XPO " target="_blank">XPO </a><a href="https://roic.ai/company/COUP " target="_blank">COUP </a><a href="https://roic.ai/company/CRWD " target="_blank">CRWD </a><a href="https://roic.ai/company/RXO " target="_blank">RXO </a><a href="https://roic.ai/company/GNRC " target="_blank">GNRC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_4Q_2022.pdf">Saltlight Capital </a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/RBLX " target="_blank">RBLX </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/TCEHY " target="_blank">TCEHY </a><a href="https://roic.ai/company/BAT.JO" target="_blank">BAT.JO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_79fa4050d7784ca2b9e622c574c9abb1.pdf">Greystone Capital Management</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/GFF " target="_blank">GFF </a><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/IDT " target="_blank">IDT </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/POL " target="_blank">POL </a><a href="https://roic.ai/company/POL " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lyricalam.com/wp-content/uploads/dlm_uploads/2023/01/LAM-2022-U.S.-Review-letter.pdf">Lyrical Asset Management</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q22.pdf">Horos Funds</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/BIDU " target="_blank">BIDU </a><a href="https://roic.ai/company/ALD.PA " target="_blank">ALD.PA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2023/01/PzenaNewsletter-Commentary-4Q22-1.pdf">Pzena Investment Management</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2022-q4.pdf?sfvrsn=a3f8909d_6">FPA Crescent Fund</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2022-q4.pdf?sfvrsn=8cfc909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/SJI " target="_blank">SJI </a><a href="https://roic.ai/company/RLI " target="_blank">RLI </a><a href="https://roic.ai/company/FN " target="_blank">FN </a><a href="https://roic.ai/company/AEL " target="_blank">AEL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-q4.pdf?sfvrsn=95029f9d_6">FPA U.S. Core Equity Fund</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DECK" target="_blank">DECK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20221231.pdf">Rondure Global</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2023/01/2022-Q4-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/CROX" target="_blank">CROX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/74a703a9-1e11-2b30-db6e-c2815a46b811/SilverRingValuePartners_2022Q4_Letter.pdf">Silver Ring Value Partners</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/FRII.TO " target="_blank">FRII.TO </a><a href="https://roic.ai/company/WINE.L " target="_blank">WINE.L </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2023/02/bumbershoot-holdings-e28094-2023-2-feb-e28094-letter-to-partners-e28094-2022.pdf">Bumbershoot Holdings</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/CHX " target="_blank">CHX </a><a href="https://roic.ai/company/INSP " target="_blank">INSP </a><a href="https://roic.ai/company/RXDX " target="_blank">RXDX </a><a href="https://roic.ai/company/XMTR " target="_blank">XMTR </a><a href="https://roic.ai/company/CYRX " target="_blank">CYRX </a><a href="https://roic.ai/company/SWAV" target="_blank">SWAV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/35d8bd09-7f9e-ae4b-c8ff-b0565d5b55c7/Fourth_Quarter_2022_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-12.31.22.pdf">Baron Opportunity Fund</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTTX-APDTX-APHTX-QCommentary-4Q22-vR.pdf">Artisan Focus Fund</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/63dffd210f60c8044b4ceeb4/1675623722432/Greenhaven+Road+-+2022+Q4+-+Final-.pdf">Greenhaven Road Capital</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/PAT.DE " target="_blank">PAT.DE </a><a href="https://roic.ai/company/CLAR" target="_blank">CLAR</a><a href="https://roic.ai/company/CLAR" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://a.storyblok.com/f/166217/x/c179ba3ef3/third-point-q4-2022-investor-letter-tpil.pdf">Third Point Offshore Fund</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/BBWI " target="_blank">BBWI </a><a href="https://roic.ai/company/CL " target="_blank">CL </a><a href="https://roic.ai/company/DD " target="_blank">DD </a><a href="https://roic.ai/company/PCG " target="_blank">PCG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/rubbing-my-nose-in-it">Mindset Value Fund</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/GLASF " target="_blank">GLASF </a><a href="https://roic.ai/company/ARA.MX" target="_blank">ARA.MX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/63cea6c741bdeb3f8c8d81c7/1674487496244/Laughing+Water+Capital+YE+2022.pdf">Laughing Water Capital</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/HGV " target="_blank">HGV </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/VTY.L " target="_blank">VTY.L </a><a href="https://roic.ai/company/LFCR" target="_blank">LFCR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/mispriced-inflation/">Crestcat Capital</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://docsend.com/view/mwmq48da78tdgkh6">Bonsai Partners</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2023/02/Epoch-Quarterly-Newsletter_February-2023.pdf">Epoch Investment Partners</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/APFDX-APDDX-APHDX-QCommentary-4Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/MPWR " target="_blank">MPWR </a><a href="https://roic.ai/company/2734.T" target="_blank">2734.T</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_67f9cc1047fc4d0b905d6ef6eb4b1c67.pdf">Emeth Value Capital</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/DESP" target="_blank">DESP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://srk-capital.com/content_files/2023/02/SRK_Fund_H2_2022_Letter.pdf">SRK Capital</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/HROW " target="_blank">HROW </a><a href="https://roic.ai/company/PYCFF " target="_blank">PYCFF </a><a href="https://roic.ai/company/HGBL " target="_blank">HGBL </a><a href="https://roic.ai/company/JOB " target="_blank">JOB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-12.31.22.pdf">Baron FinTech Fund</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2022-partner-letter-EdnTy8Rv">Artko Capital</a></td><td width="14%">2/17/2023</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/GAIA " target="_blank">GAIA </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/NTIC " target="_blank">PBPB </a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dea95dc8fdee044b6f12fb9/t/63dbf46300dbad51d9ee0c3e/1675359332413/Q4+and+2022+EOY+Update.pdf">MCJ Capital Partners</a></td><td width="14%">2/17/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/_files/ugd/3b0d6d_433685d4d14c4bad8e54f40609582792.pdf">Saga Partners</a></td><td width="14%">2/17/2023</td><td width="39%"><a href="https://roic.ai/company/RDFN " target="_blank">RDFN </a><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/4Q22%20-%20FV.html">Bireme Capital</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/BOIVF " target="_blank">BOIVF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-12.31.22.pdf">Baron Growth Fund</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/MSCI" target="_blank">MSCI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-12.31.22.pdf">Baron Partners Fund</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2023/02/HCM-Q4-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/ICFI" target="_blank">ICFI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/MEG " target="_blank">MEG </a><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/GKOS " target="_blank">GKOS </a><a href="https://roic.ai/company/XMTR" target="_blank">XMTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202022%20FINAL.pdf">Tweedy Browne</a></td><td width="14%">2/22/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-12.31.22.pdf">Baron Discovery Fund</a></td><td width="14%">2/23/2023</td><td width="39%"><a href="https://roic.ai/company/CDNA " target="_blank">CDNA </a><a href="https://roic.ai/company/DH " target="_blank">DH </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/QLYS " target="_blank">QLYS </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/CYBR " target="_blank">CYBR </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/PAR " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Growth-Fund-Quarterly-Letter-12.31.22.pdf">Baron Fifth Avenue Growth Fund</a></td><td width="14%">2/23/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-12.31.22_0.pdf">Baron Small Cap Fund</a></td><td width="14%">2/23/2023</td><td width="39%"><a href="https://roic.ai/company/NEOG " target="_blank">NEOG </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static.fmgsuite.com/media/documents/628dd5de-7bed-46cd-92d8-029b09a1fb15.pdf">Semper Augustus</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTMX-APDMX-APHMX-QCommentary-4Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/BSY " target="_blank">BSY </a><a href="https://roic.ai/company/HALO " target="_blank">HALO </a><a href="https://roic.ai/company/SAIA" target="_blank">SAIA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTSX-APDSX-APHSX-QCommentary-4Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/CTLT " target="_blank">CTLT </a><a href="https://roic.ai/company/SIVB " target="_blank">SIVB </a><a href="https://roic.ai/company/MKTX" target="_blank">MKTX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTKX-APDKX-APHKX-QCommentary-4Q22-vR.pdf">Artisan International Value Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTLX-APDLX-APHLX-QCommentary-4Q22-vR.pdf">Artisan Value Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/63dd05f6c16eff311b05b8d7/1675429367339/2022.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/SMEGF " target="_blank">SMEGF </a><a href="https://roic.ai/company/ADMLF " target="_blank">ADMLF </a><a href="https://roic.ai/company/CTTZF " target="_blank">CTTZF </a><a href="https://roic.ai/company/IXRRF " target="_blank">IXRRF </a><a href="https://roic.ai/company/LAC" target="_blank">LAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://img1.wsimg.com/blobby/go/ee65fbd7-2d89-48b3-83e6-be9864c38c3b/downloads/Nitor%20Capital%20Management%202023%20Annual%20Letter.pdf?ver=1676653916023">Nitor Capital</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.righttailcapital.com/_files/ugd/9593df_65907af5b9c94afbb864699330b2b145.pdf">Right Tail Capital</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/ROST " target="_blank">ROST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/wp-content/uploads/2023/02/ArielInvestmentTrustQuarterlyReport123122.pdf">Ariel Trust Funds</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/BOKF " target="_blank">BOKF </a><a href="https://roic.ai/company/CG " target="_blank">CG </a><a href="https://roic.ai/company/ZBRA" target="_blank">ZBRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/1e163043-f15e-1f02-9f6a-e8cece7f76e4/December_2022_Investor_Letter_End_of_free_moneyvfin.pdf">Richie Capital Group</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/FICO " target="_blank">FICO </a><a href="https://roic.ai/company/PERI " target="_blank">PERI </a><a href="https://roic.ai/company/RELL" target="_blank">RELL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.brontecapital.com/amalthea/Amalthea_Letter_202212.pdf">Bronte Capital</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/HLF " target="_blank">HLF </a><a href="https://roic.ai/company/GMHLF " target="_blank">GMHLF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2022-Q4-Aikya-Letter-Public-Bank.pdf">Aikya Funds</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/PBLOF " target="_blank">PBLOF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_4Q22_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mawer.com/assets/Uploads/4Q22-Quarterly.pdf">Mawer Mutual Funds</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/RKT " target="_blank">RKT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/PNGAY " target="_blank">PNGAY </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/OC" target="_blank">OC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/PNGAY " target="_blank">PNGAY </a><a href="https://roic.ai/company/CPNG " target="_blank">CPNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/COF " target="_blank">COF </a><a href="https://roic.ai/company/WFC " target="_blank">WFC </a><a href="https://roic.ai/company/BRK.B " target="_blank">BRK.B </a><a href="https://roic.ai/company/AMAT " target="_blank">AMAT </a><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/COF " target="_blank">COF </a><a href="https://roic.ai/company/WFC " target="_blank">WFC </a><a href="https://roic.ai/company/BRK.B " target="_blank">BRK.B </a><a href="https://roic.ai/company/AMAT " target="_blank">AMAT </a><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="Templeton+&+Phillips+-+2022+Letter+-+Public.pdf (squarespace.com)">Templeton & Phillips Capital Management</a></td><td width="14%">2/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rvcapital.ch/post/2022-letter-to-co-investors-in-business-owner?utm_campaign=ca72bd39-5c54-4309-82dd-c8ff9d204193&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="14%">2/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.deepsailcapital.com/_files/ugd/50dba3_1fee3e85d4804f44b1b7f4e0b0453d73.pdf">Deep Sail Capital</a></td><td width="14%">3/01/2023</td><td width="39%"><a href="https://roic.ai/company/LEAT " target="_blank">LEAT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/57eff176e58c621a298bfa61/t/63c31bd9cf3aa73258174080/1673731033092/Plural+Partners+Fund+Letter+-+2022%3AQ4.pdf">Plural Investing</a></td><td width="14%">3/02/2023</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/DRTGF " target="_blank">DRTGF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/63f66bc227a3227f4d574179/1677093827154/Kinsman+Oak+-+FY+2022+Letter+vCommentary.pdf">Kinsman Oak Equity Fund</a></td><td width="14%">3/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://evermoreglobal.com/media/pdfs/evermore_annual_report.pdf">Evermore Global Value Fund</a></td><td width="14%">3/03/2023</td><td width="39%"><a href="https://roic.ai/company/INW.MI " target="_blank">INW.MI </a><a href="https://roic.ai/company/HOEGF " target="_blank">HOEGF </a><a href="https://roic.ai/company/CLMT " target="_blank">CLMT </a><a href="https://roic.ai/company/AASZF " target="_blank">AASZF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/63ffdbf2cfa90630a0b07567/1677712371223/2022+Q4_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="14%">3/03/2023</td><td width="39%"><a href="https://roic.ai/company/ALTG " target="_blank">ALTG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/c2c02322-09f5-a9e7-0cc2-5c1d5994635c/030923_Bonhoeffer_Partner_Letter_Q4_2022.pdf">Bonhoeffer Capital Management</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/KT " target="_blank">KT </a><a href="https://roic.ai/company/TIIAY " target="_blank">TIIAY </a><a href="https://roic.ai/company/SSP " target="_blank">SSP </a><a href="https://roic.ai/company/GTN " target="_blank">GTN </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/BLDR " target="_blank">BLDR </a><a href="https://roic.ai/company/NICE" target="_blank">NICE</a><a href="https://roic.ai/company/NICE" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/FEM/2022/HL-FEM-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner Global Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Cos-Quarterly-Report-4Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/VAIAS.HE " target="_blank">VAIAS.HE </a><a href="https://roic.ai/company/TMRAY " target="_blank">TMRAY </a><a href="https://roic.ai/company/0QKB.L" target="_blank">0QKB.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner International Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-Intl-Small-Cos-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.appleseedfund.com/wp-content/uploads/2022/12/2022-Appleseed-annual-letter.pdf">Appleseed Fund</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmharbourcapital.com/files/PHC_Letter_Q4_2022_FINAL_EN.pdf">Palm Harbour Capital</a></td><td width="14%">3/16/2023</td><td width="39%"><a href="https://roic.ai/company/LNA.PA" target="_blank">LNA.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fundsmith.co.uk/media/bm0lyc22/annual-letter-to-shareholders-2022.pdf">Fundsmith Equity Fund</a></td><td width="14%">3/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href=""></a></td><td width="14%"> </td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
</tbody>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">3rd Quarter 2022</span>
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<thead>
<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
</thead>
<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/10/STJIC-Adviser-Letter-2022-Q3.pdf">St. James Investment Company </a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_72_en.pdf">Vltava Fund</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ATD.TO " target="_blank">ATD.TO </a><a href="https://roic.ai/company/BRK-B " target="_blank">BRK-B </a><a href="https://roic.ai/company/BMW.DE " target="_blank">BMW.DE </a><a href="https://roic.ai/company/CVS " target="_blank">CVS </a><a href="https://roic.ai/company/JPM " target="_blank">JPM </a><a href="https://roic.ai/company/LMT " target="_blank">LMT </a><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/MKL " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/633c8df908400e1e6f281e9b/1664912890141/Q32022.pdf">Comus Investments</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/2022-q3-letter/">Moon Capital</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ALLY " target="_blank">ALLY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6343a480b2dc737b6247b478/1665377408612/2022+Q3.pdf">Blue Tower Asset Management</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ENVA" target="_blank">ENVA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/10/QUARTERLY-REPORT-WEB-Sept-2022.pdf">East72 Holdings</a></td><td width="14%">10/17/2022</td><td width="39%"><a href="https://roic.ai/company/MSGS " target="_blank">MSGS </a><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_0c3a777e46d8414cbd20c537775e892e.pdf">Palm Valley Capital Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/KELYA " target="_blank">KELYA </a><a href="https://roic.ai/company/MAN " target="_blank">MAN </a><a href="https://roic.ai/company/SNN " target="_blank">SNN </a><a href="https://roic.ai/company/SRM " target="_blank">SRM </a><a href="https://roic.ai/company/CRDA" target="_blank">CRDA</a><a href="https://roic.ai/company/WHGLY " target="_blank">WHGLY </a><a href="https://roic.ai/company/ODC" target="_blank">ODC</a><a href="https://roic.ai/company/ODC" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/10/3Q-2022-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/10/3Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/FIVN " target="_blank">FIVN </a><a href="https://roic.ai/company/BKNG" target="_blank">BKNG</a><a href="https://roic.ai/company/INTU " target="_blank">INTU </a><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/WDAY " target="_blank">WDAY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_3Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_3bc0278b487a4c69988e2ef2f44627ca.pdf">Old West Capital Management</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/FIL.TO " target="_blank">FIL.TO </a><a href="https://roic.ai/company/FLMMF" target="_blank">FLMMF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3162">Miller/Howard Investments</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/wp-content/uploads/2022/10/Andvari-2022q3-letter-1.pdf">Andvari Associates</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/634db41b0b7dab72e4496ebd/1666036763837/GCAM+2022+Q3+letter+.pdf">Giverny Capital Asset Management</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/63480ee00d8483044cb4a8f7/1665666784591/Q3+2022+Letter.pdf">Curreen Capital</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2022.pdf">L1 Capital Long Short Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/10/L1-Capital-International-September-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-09.30.22.pdf">Baron Health Care Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/HUM " target="_blank">HUM </a><a href="https://roic.ai/company/ALNY " target="_blank">ALNY </a><a href="https://roic.ai/company/DHR " target="_blank">DHR </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/ISRG" target="_blank">ISRG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_5f53ace924b14d07a30f8e7c99be4a78.pdf">Merion Road Capital</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/SIX " target="_blank">SIX </a><a href="https://roic.ai/company/CRMT " target="_blank">CRMT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_10_18.pdf">Myrmikan Research</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/10/Akre-Focus-Fund-Quarterly-Commentary-2022-Q3.pdf#page=1">Akre Focus Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/third-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220930.pdf">FMI All Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/AVY " target="_blank">AVY </a><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220930.pdf">FMI International Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/BME.L " target="_blank">BME.L </a><a href="https://roic.ai/company/HWDN.L" target="_blank">HWDN.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220930.pdf">FMI Large Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/AVY " target="_blank">AVY </a><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220930.pdf">FMI Small Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/SSD " target="_blank">SSD </a><a href="https://roic.ai/company/G" target="_blank">G</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/MS" target="_blank">MS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/ACGL " target="_blank">ACGL </a><a href="https://roic.ai/company/ALC" target="_blank">ALC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/MKSI " target="_blank">MKSI </a><a href="https://roic.ai/company/ROST" target="_blank">ROST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_335ac33761cb41fca0df619b92792f4e.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/EZJ.L" target="_blank">EZJ.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/CEG " target="_blank">CEG </a><a href="https://roic.ai/company/SWKS " target="_blank">SWKS </a><a href="https://roic.ai/company/AAP " target="_blank">AAP </a><a href="https://roic.ai/company/TCBI" target="_blank">TCBI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/NOV " target="_blank">NOV </a><a href="https://roic.ai/company/PDCO " target="_blank">PDCO </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/PLOW " target="_blank">PLOW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/10/Q3-2022-Letter.pdf">Distillate Capital</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-09.30.22_0.pdf">Baron Asset Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/LPLA" target="_blank">LPLA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-09.30.22.pdf">Baron Real Estate Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/PLD " target="_blank">PLD </a><a href="https://roic.ai/company/NTST " target="_blank">NTST </a><a href="https://roic.ai/company/SBAC " target="_blank">SBAC </a><a href="https://roic.ai/company/REXR " target="_blank">REXR </a><a href="https://roic.ai/company/POOL" target="_blank">POOL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-09.30.22.pdf">Baron Discovery Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/TXRH " target="_blank">TXRH </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/CDNA " target="_blank">CDNA </a><a href="https://roic.ai/company/NVTS " target="_blank">NVTS </a><a href="https://roic.ai/company/SMRT" target="_blank">SMRT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q3.pdf">Alphyn Capital Management</a></td><td width="14%">10/23/2022</td><td width="39%"><a href="https://roic.ai/company/WAND.L " target="_blank">WAND.L </a><a href="https://roic.ai/company/AHT.L " target="_blank">AHT.L </a><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/IAC" target="_blank">IAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/634e89d6a2cbef04f1622a8f/1666091479613/Upslope+-+2022Q3+Letter.pdf">Upslope Capital Management</a></td><td width="14%">10/23/2022</td><td width="39%"><a href="https://roic.ai/company/CACI " target="_blank">CACI </a><a href="https://roic.ai/company/BOMXF" target="_blank">BOMXF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tidefallcapital.com/_files/ugd/8a849d_3fae497374bf484ea2ff05fa846574c9.pdf">Tidefall Capital Management</a></td><td width="14%">10/25/2022</td><td width="39%"><a href="https://roic.ai/company/FFH.TO" target="_blank">FFH.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/10/Alluvial-Capital-Management-Q3-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="14%">10/25/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/BFCC " target="_blank">BFCC </a><a href="https://roic.ai/company/UBAB " target="_blank">UBAB </a><a href="https://roic.ai/company/CBOBA " target="_blank">CBOBA </a><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/JOB" target="_blank">JOB</a><a href="https://roic.ai/company/JOB" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q3NP.pdf">Hoisington Investment Management</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-3Q2022.pdf.pdf">Polen - U.S. SMID Company Growth </a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/EEFT " target="_blank">EEFT </a><a href="https://roic.ai/company/BMBL" target="_blank">BMBL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-3Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/ILMN" target="_blank">ILMN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2022.pdf">Polen Capital - Global Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/OR.PA" target="_blank">OR.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - Global SMID Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2022.pdf">Polen Capital - International Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/KER.PA " target="_blank">KER.PA </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/EVO.ST" target="_blank">EVO.ST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=638023291350000000">Weitz Hickory Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/CHTR " target="_blank">CHTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638023291350000000">Weitz Partners III Opportunity Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638023291350000000">Weitz Partners Value Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638023291350000000">Weitz Value Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-09.30.22.pdf">Baron Small Cap Fund</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/CAKE " target="_blank">CAKE </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/CLVT" target="_blank">CLVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-09.30.22.pdf">Baron Opportunity Fund</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/MPWR " target="_blank">MPWR </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/NET " target="_blank">NET </a><a href="https://roic.ai/company/INDI" target="_blank">INDI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/636060c8d7eb05165dcc49f4/1667260616405/NZS+Capital+Q3+2022+Letter.pdf">NZS Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.okeefestevens.com/wp-content/uploads/2022/10/Q3-2022-Letter-1.pdf">O'Keefe Stevens</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/LAZ " target="_blank">LAZ </a><a href="https://roic.ai/company/SRG " target="_blank">SRG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-q3-2022-letter">Rowan Street Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1izeodANnozDBAGIUqaBbVZDbA3pC3it4/view">Greenlight Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/6360899201fcc54056e8475f/1667271058990/Nordstern+Capital+3Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/3q2022-commentary">Whitebrook Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/BOX" target="_blank">BOX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/2baa1d32-1047-4534-86e2-f8957c0774de.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/CHRD " target="_blank">CHRD </a><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/SRC" target="_blank">SRC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llin-commentary/">Longleaf Partners International Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=3Q2022">Ave Maria Funds</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/DBRG " target="_blank">DBRG </a><a href="https://roic.ai/company/EDR.MC " target="_blank">EDR.MC </a><a href="https://roic.ai/company/AMMO" target="_blank">AMMO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/APFDX-APDDX-APHDX-QCommentary-3Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTKX-APDKX-APHKX-QCommentary-3Q22-vR.pdf">Artisan International Value Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTMX-APDMX-APHMX-QCommentary-3Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTSX-APDSX-APHSX-QCommentary-3Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/MTSI " target="_blank">MTSI </a><a href="https://roic.ai/company/IRTC " target="_blank">IRTC </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTLX-APDLX-APHLX-QCommentary-3Q22-vR.pdf">Artisan Value Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTTX-APDTX-APHTX-QCommentary-3Q22-vR.pdf">Artisan Focus Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2022/10/RGAIA-Q322-INVESTMENT-COMMENTARY.pdf">RGA Investment Advisors</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/BMY " target="_blank">BMY </a><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/MXCT " target="_blank">MXCT </a><a href="https://roic.ai/company/REGN" target="_blank">REGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/6345b2150a72d45aebb4ca7b/1665511958488/3Q22+letter+FINAL.pdf">Long Cast Advisers </a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_38844241568340438328f3a4b83aa589.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/LDOS " target="_blank">LDOS </a><a href="https://roic.ai/company/TTC" target="_blank">TTC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q3.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/5h5ztiwrudtejz4/2022_CTG_InvestorLetter_II.pdf?dl=0">Canterbury Tollgate</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/11/2022Q3-Commentary.pdf">Palm Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2022/10/CSCAX_2022-09-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/ECVT " target="_blank">ECVT </a><a href="https://roic.ai/company/GBLI " target="_blank">GBLI </a><a href="https://roic.ai/company/WSTG " target="_blank">WSTG </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/VSAT " target="_blank">VSAT </a><a href="https://roic.ai/company/CARG" target="_blank">CARG</a><a href="https://roic.ai/company/CARG" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/rising-uncertainty-greater-value-potential/">Miller Deep Value</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/TPC " target="_blank">TPC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/pop-goes-the-safety-bubble/">Miller Income Strategy</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/ARLP " target="_blank">ARLP </a><a href="https://roic.ai/company/CHK " target="_blank">CHK </a><a href="https://roic.ai/company/BKE " target="_blank">BKE </a><a href="https://roic.ai/company/OGN " target="_blank">OGN </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/VTRS" target="_blank">VTRS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/miller-opportunity-equity-3q2022-commentary/">Miller Opportunity Trust</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/10/HCM-Q3-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/UFPT" target="_blank">UFPT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/3Q22%20-%20FV.html">Bireme Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/11/Epoch-Quarterly-Newsletter_November-2022.pdf">Epoch Investment Partners</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/abb1a0_d96d3b63ef9249a4a1778f8368c0d997.pdf">Arch Capital Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/ADSK" target="_blank">ADSK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2022/11/VVP-Quarterly-Letter-22.09.30.pdf">Vulcan Value Partners</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-Q322.pdf">Horos Funds</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2022/10/2022-Q3-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/WCC " target="_blank">WCC </a><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/OEC " target="_blank">OEC </a><a href="https://roic.ai/company/FARM" target="_blank">FARM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2022/">Oakmark Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/FBHS " target="_blank">FBHS </a><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2022/">Oakmark Global Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-third-quarter-2022/">Oakmark Global Select Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-third-quarter-2022/">Oakmark International Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-third-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2022/">Oakmark Select Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/KKR" target="_blank">KKR</a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/WFC" target="_blank">WFC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q3-2022-Review-1.pdf">Horizon Kinetics</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-09.30.22.pdf">Baron FinTech Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/FDS " target="_blank">FDS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-09.30.22.pdf">Baron Growth Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Growth-Fund-Quarterly-Letter-09.30.22.pdf">Baron Fifth Avenue Growth Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/TEAM " target="_blank">TEAM </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-09.30.22.pdf">Blue Hawk Investment Group </a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202209/Commentary-Small-Cap-Fund-2022-09-30.pdf?c=638041193440000000">Diamond Hill Small Cap Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_88fbbb3c8834487e9613e5d9b99bcdb2.pdf">Greystone Capital Management</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/POL " target="_blank">POL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/bc1677a8-bc5f-f676-765a-c17cf163274d/Third_Quarter_2022_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20220930.pdf">Rondure Global</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/63828b47a89b9902cff228f3/1669499719982/Greenhaven+Road+-+2022+Q3+final.pdf">Greenhaven Road Capital</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/HGTY " target="_blank">HGTY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lvsadvisory.com/wp-content/uploads/2022/11/LVS-Advisory-Letter-Q3-2022.pdf">LVS Advisory</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1YX1wN-8uUGmgpr-7WONZxhWgmdHNE4xD/view">Andaz Private Investments</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/CEG " target="_blank">CEG </a><a href="https://roic.ai/company/PCTY " target="_blank">PCTY </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/AVTR " target="_blank">AVTR </a><a href="https://roic.ai/company/MRCY " target="_blank">MRCY </a><a href="https://roic.ai/company/SGEN" target="_blank">SGEN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/RBC " target="_blank">RBC </a><a href="https://roic.ai/company/SWAV " target="_blank">SWAV </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/MRCY " target="_blank">MRCY </a><a href="https://roic.ai/company/HSKA " target="_blank">HSKA </a><a href="https://roic.ai/company/QDEL" target="_blank">QDEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/AMRC " target="_blank">AMRC </a><a href="https://roic.ai/company/SPSC " target="_blank">SPSC </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/DRQ " target="_blank">DRQ </a><a href="https://roic.ai/company/DH" target="_blank">DH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6351f52d0605461c7ccb2368/1666315566155/Q3+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/BFCC " target="_blank">BFCC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/11/DKAM-ROE-Reporter-November-2022-Final-1.pdf">Donville Kent Asset Management</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/">Ariel Trust Funds</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/GNRC " target="_blank">GNRC </a><a href="https://roic.ai/company/SJM " target="_blank">SJM </a><a href="https://roic.ai/company/AD.AS " target="_blank">AD.AS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://dmzpartners.in/Documents/Files/DMZ-1953-DMZ-Partners-Semi-Annual-FY-22-23-(Redacted).pdf">DMZ Partners</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">2nd Quarter 2022</span>
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="https://andvariassociates.com/q2-2022-letter">Andvari Associates</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE" target="_blank">ADBE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/62c34100d8a0b71baa04f0d6/1656963328450/Q22022.pdf">Comus Investments</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/07/STJIC-Adviser-Letter-2022-Q2.pdf">St. James Investment Company </a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_71_en.pdf">Vltava Fund</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/CVE" target="_blank">CVE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_9ed0664cbf44487498dabef6136c34a9.pdf">Palm Valley Capital Fund</a></td><td width="13%">7/11/2022</td><td width="39%"><a href="https://roic.ai/company/CRI " target="_blank">CRI </a><a href="https://roic.ai/company/ORI " target="_blank">ORI </a><a href="https://roic.ai/company/HOFT " target="_blank">HOFT </a><a href="https://roic.ai/company/LSDAF " target="_blank">LSDAF </a><a href="https://roic.ai/company/NATH" target="_blank">NATH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/q2-2022-letter/">Moon Capital</a></td><td width="13%">7/11/2022</td><td width="39%"><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/07/QUARTERLY-REPORT-WEB-June-2022.pdf">East72 Holdings</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/UHAL" target="_blank">UHAL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220630.pdf">FMI All Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220630.pdf">FMI International Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220630.pdf">FMI Large Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220630.pdf">FMI Small Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/07/Akre-Focus-Fund-Quarterly-Commentary-2022-Q2.pdf#page=1">Akre Focus Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LNSTY" target="_blank">LNSTY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-june-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LNSTY" target="_blank">LNSTY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_1873be9d3ce44fc3b5c369e601b24bf2.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/POOL " target="_blank">POOL </a><a href="https://roic.ai/company/SBUX " target="_blank">SBUX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DiversifiedIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/FWONA " target="_blank">FWONA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/MODN" target="_blank">MODN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.okeefestevens.com/the-value-connection-q3-2022/">O'Keefe Stevens</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_c3d41bb31a4e4fceaeda7fd688900816.pdf">Merion Road Capital</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/WHG" target="_blank">WHG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/07/2Q-2022-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/07/2Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2022.pdf">L1 Capital Long Short Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/CVE " target="_blank">CVE </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/BLSFF " target="_blank">BLSFF </a><a href="https://roic.ai/company/CSCCF " target="_blank">CSCCF </a><a href="https://roic.ai/company/MALRF " target="_blank">MALRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/07/L1-Capital-International-June-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/EXP " target="_blank">EXP </a><a href="https://roic.ai/company/LPX " target="_blank">LPX </a><a href="https://roic.ai/company/GPK " target="_blank">GPK </a><a href="https://roic.ai/company/IQV" target="_blank">IQV</a><a href="https://roic.ai/company/IQV" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/62cbc62477b6d55880a73619/1657521700839/2022+Q2.pdf">Blue Tower Asset Management</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/TWLO " target="_blank">TWLO </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/NKE " target="_blank">NKE </a><a href="https://roic.ai/company/ADYEY " target="_blank">ADYEY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_2Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/62cdd2395fa0eb484016f5ee/1657655865394/NZS+Capital+Q2+2022+Letter.pdf">NZS Capital</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/62d2310dc4c1847abbeb2e81/1657942290214/Worm+Capital+-+Q2+2022+Investor+Letter+-+Final.pdf">Worm Capital</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_3d822183168e4209b8a3667996b689ba.pdf">Old West Capital Management</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/LMT" target="_blank">LMT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/07/Q2-2022-letter.pdf">Distillate Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/COLD " target="_blank">COLD </a><a href="https://roic.ai/company/FIBK " target="_blank">FIBK </a><a href="https://roic.ai/company/SNA " target="_blank">SNA </a><a href="https://roic.ai/company/G " target="_blank">G </a><a href="https://roic.ai/company/THO " target="_blank">THO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/CSV " target="_blank">CSV </a><a href="https://roic.ai/company/STKL " target="_blank">STKL </a><a href="https://roic.ai/company/DINO " target="_blank">DINO </a><a href="https://roic.ai/company/NWPX " target="_blank">NWPX </a><a href="https://roic.ai/company/CECE " target="_blank">CECE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/POWL " target="_blank">POWL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/62d84967f06fb35bcb155c28/1658341735984/Q2+2022+Letter.pdf">Curreen Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q2.pdf">Alphyn Capital Management</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/CRSS " target="_blank">CRSS </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/W " target="_blank">W </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3141">Miller/Howard Investments</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/62d79087a80fcc2f5c2d10b3/1658294408196/Nordstern+Capital+2Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/ARCH " target="_blank">ARCH </a><a href="https://roic.ai/company/ERJ " target="_blank">ERJ </a><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/EVVTY " target="_blank">EVVTY </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-06.30.22.pdf">Baron Health Care Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/BMY " target="_blank">BMY </a><a href="https://roic.ai/company/VRTX " target="_blank">VRTX </a><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/INGEF " target="_blank">INGEF </a><a href="https://roic.ai/company/VESTF " target="_blank">VESTF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/DHI " target="_blank">DHI </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/SUPN " target="_blank">SUPN </a><a href="https://roic.ai/company/CCF " target="_blank">CCF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/THYCF " target="_blank">THYCF </a><a href="https://roic.ai/company/AJMPF " target="_blank">AJMPF </a><a href="https://roic.ai/company/SCPPF" target="_blank">SCPPF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/2q2022-commentary">Whitebrook Capital</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/ITRI " target="_blank">ITRI </a><a href="https://roic.ai/company/AFYA " target="_blank">AFYA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-1h-2022-letter">Rowan Street Capital</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/PTON " target="_blank">PTON </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-06.30.22.pdf">Baron Discovery Fund</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/GWRE " target="_blank">GWRE </a><a href="https://roic.ai/company/ASGN " target="_blank">ASGN </a><a href="https://roic.ai/company/CDAY " target="_blank">CDAY </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/ESTA " target="_blank">ESTA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-06.30.22.pdf">Baron Real Estate Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/AVB " target="_blank">AVB </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/FBHS " target="_blank">FBHS </a><a href="https://roic.ai/company/DLR " target="_blank">DLR </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/second-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/NOW " target="_blank">NOW </a><a href="https://roic.ai/company/MASI " target="_blank">MASI </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/FAF " target="_blank">FAF </a><a href="https://roic.ai/company/HD" target="_blank">HD</a><a href="https://roic.ai/company/HD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/94923153-a150-4b32-838d-a5f30725880d.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/CADE " target="_blank">CADE </a><a href="https://roic.ai/company/HHC " target="_blank">HHC </a><a href="https://roic.ai/company/TRNO" target="_blank">TRNO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/62d7ddf71cba2f101dd6f698/1658314232755/Upslope+-+2022Q2+Letter.pdf">Upslope Capital Management</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/BALL " target="_blank">BALL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q2NP.pdf">Hoisington Investment Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q2-2022-Review_FINAL_2.pdf">Horizon Kinetics</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/WPM " target="_blank">WPM </a><a href="https://roic.ai/company/ATUSF " target="_blank">ATUSF </a><a href="https://roic.ai/company/ATRWF " target="_blank">ATRWF </a><a href="https://roic.ai/company/CME " target="_blank">CME </a><a href="https://roic.ai/company/PREKF" target="_blank">PREKF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2022/">Oakmark Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/DIS " target="_blank">DIS </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/MAS " target="_blank">MAS </a><a href="https://roic.ai/company/ORCL " target="_blank">ORCL </a><a href="https://roic.ai/company/PH" target="_blank">PH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2022/">Oakmark Global Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-quarter-2022/">Oakmark Global Select Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-quarter-2022/">Oakmark International Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/CS " target="_blank">CS </a><a href="https://roic.ai/company/PPRUY" target="_blank">PPRUY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-second-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/ELEEF " target="_blank">ELEEF </a><a href="https://roic.ai/company/ATEAY " target="_blank">ATEAY </a><a href="https://roic.ai/company/FLUIF " target="_blank">FLUIF </a><a href="https://roic.ai/company/NEXXY " target="_blank">NEXXY </a><a href="https://roic.ai/company/XPG.F" target="_blank">XPG.F</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2022/">Oakmark Select Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/07/Alluvial-Capital-Management-Q2-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/GTXAP " target="_blank">GTXAP </a><a href="https://roic.ai/company/TIMB " target="_blank">TIMB </a><a href="https://roic.ai/company/BSND " target="_blank">BSND </a><a href="https://roic.ai/company/CUSI" target="_blank">CUSI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/62cf0ec135184b57392bd28a/1657736897912/GCAM+Q2+2022+letter_.pdf">Giverny Capital Asset Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/ASHTF " target="_blank">ASHTF </a><a href="https://roic.ai/company/ADI " target="_blank">ADI </a><a href="https://roic.ai/company/FND" target="_blank">FND</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202206/Commentary-Small-Cap-Fund-2022-06-30.pdf?c=637941173470000000">Diamond Hill Small Cap Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/FA " target="_blank">FA </a><a href="https://roic.ai/company/ECOM " target="_blank">ECOM </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/ESAB " target="_blank">ESAB </a><a href="https://roic.ai/company/ENOV" target="_blank">ENOV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/values-opportunity-in-uncertain-times/">Pzena Investment Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_07_13.pdf">Myrmikan Research</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/EVH " target="_blank">EVH </a><a href="https://roic.ai/company/CYRX " target="_blank">CYRX </a><a href="https://roic.ai/company/GO " target="_blank">GO </a><a href="https://roic.ai/company/HRI " target="_blank">HRI </a><a href="https://roic.ai/company/ATRC " target="_blank">ATRC </a><a href="https://roic.ai/company/INSP" target="_blank">INSP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/APPL " target="_blank">APPL </a><a href="https://roic.ai/company/MSFT" target="_blank">MSFT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/low-valuation-securities-remain-attractive/">Miller Deep Value</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/AXL " target="_blank">AXL </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/FTI " target="_blank">FTI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WMB " target="_blank">WMB </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/GE" target="_blank">GE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2qllgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2q-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WHGLY " target="_blank">WHGLY </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/DPZ " target="_blank">DPZ </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/EXXRF" target="_blank">EXXRF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2qllsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/OSCR " target="_blank">OSCR </a><a href="https://roic.ai/company/VMEO " target="_blank">VMEO </a><a href="https://roic.ai/company/HOUS " target="_blank">HOUS </a><a href="https://roic.ai/company/ESRT " target="_blank">ESRT </a><a href="https://roic.ai/company/WEST" target="_blank">WEST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2022/07/CSCAX_2022-06-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/HNRG " target="_blank">HNRG </a><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/VSAT " target="_blank">VSAT </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/INFU " target="_blank">INFU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=4Q2021">Ave Maria Funds</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/BAMR " target="_blank">BAMR </a><a href="https://roic.ai/company/GPRE " target="_blank">GPRE </a><a href="https://roic.ai/company/CHK " target="_blank">CHK </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/MIR " target="_blank">MIR </a><a href="https://roic.ai/company/STNE" target="_blank">STNE</a><a href="https://roic.ai/company/STNE" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mawer.com/tools-and-resources/mawer-quarterly/second-quarter-2022/">Mawer Mutual Funds</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ip-capitalpartners.com/reports/turbulencia-disciplina-e-oportunidades/">IP-Capital Partners</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/CHTR " target="_blank">CHTR </a><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637941317810000000">Weitz Hickory Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637941317810000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637941317810000000">Weitz Partners Value Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637941317810000000">Weitz Value Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202206.pdf">Bronte Capital</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/62e2e2f20516c810ef10968d/1659036402933/Q2%2722+letter.pdf">1 Main Capital Partners</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/KKR" target="_blank">KKR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_3fd6189e2a71450f962f24f91188aa47.pdf">Emeth Value Capital</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/DECPF" target="_blank">DECPF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_2Q_2022.pdf">Saltlight Capital </a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/Q2%202022%20Investor%20Letter.pdf">Praetorian Capital </a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_6b3d9dfea2cc42fb9f2318b7c81a7061.pdf">Greystone Capital Management</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/IDT " target="_blank">IDT </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/ec64f82f-10b4-eda5-697d-61f8bc7c5f50/Second_Quarter_2022_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5a57e9fd53450ad1027d1e2f/1515710973971/Maran+Partners+Fund+LP+Founders+Letter_Web.pdf">Maran Capital Management</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-2Q2022.pdf">Polen - U.S. SMID Company Growth </a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-2Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/ABNB " target="_blank">ABNB </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2022.pdf">Polen Capital - Global Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2022.pdf">Polen Capital - International Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1659734271304">Miller Income Strategy</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/HRB " target="_blank">HRB </a><a href="https://roic.ai/company/ARLP " target="_blank">ARLP </a><a href="https://roic.ai/company/HMPT " target="_blank">HMPT </a><a href="https://roic.ai/company/JXN" target="_blank">JXN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1659734087106">Miller Opportunity Trust</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/UAL " target="_blank">UAL </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/KRTX " target="_blank">KRTX </a><a href="https://roic.ai/company/NCLH " target="_blank">NCLH </a><a href="https://roic.ai/company/COIN " target="_blank">COIN </a><a href="https://roic.ai/company/BHC" target="_blank">BHC</a><a href="https://roic.ai/company/BHC" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/2Q22%20-%20FV.html">Bireme Capital</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/08/Epoch-Quarterly-Newsletter_July-2022.pdf">Epoch Investment Partners</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/62e2cb493d43c21e9376276e/1659030345791/Q2+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/WCRS " target="_blank">WCRS </a><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/07/HCM-Q2-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/QLYS " target="_blank">QLYS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20220630.pdf">Rondure Global</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1FS2qH8wCrX1GJzXVnCNKruC88PSVEAeM/view">Tidefall Capital Management</a></td><td width="13%">8/06/2022</td><td width="39%"><a href="https://roic.ai/company/ONEXF" target="_blank">ONEXF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_263985b67ed3417898a45ca656079240.pdf">Arch Capital Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/IAC" target="_blank">IAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1q4vlkXfomG1UDoGDBOdqVQza0UfOwLFB/view">Andaz Private Investments</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2022/08/VVP-Quarterly-Letter-22.06.30.pdf">Vulcan Value Partners</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/SNBR " target="_blank">SNBR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/62ea7798a152c62213de90d3/1659533208350/2022+Q2_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/EXTR" target="_blank">EXTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2022-q2.pdf?sfvrsn=178909d_4">FPA Crescent Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-value-fund/literature/fpa-qr-value-fund-commentary-2022-q2.pdf?sfvrsn=127d909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-06.pdf?sfvrsn=9d78909d_4">FPA U.S. Core Equity Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/62d556904064b731387d7ff0/1658148496935/Laughing+Water+Capital+1H%2722.pdf">Laughing Water Capital</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/AIMFF " target="_blank">AIMFF </a><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/LNDC " target="_blank">LNDC </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/FREE " target="_blank">FREE </a><a href="https://roic.ai/company/TACT" target="_blank">TACT</a><a href="https://roic.ai/company/TACT" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/commentary/q2-2022/">RGA Investment Advisors</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/MXCT" target="_blank">MXCT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q22.pdf">Horos Funds</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2022/07/2022-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/FARM " target="_blank">FARM </a><a href="https://roic.ai/company/OEC " target="_blank">OEC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-06.30.22.pdf">Baron Asset Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/ICLR " target="_blank">ICLR </a><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-06.30.22.pdf">Baron FinTech Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/PGR" target="_blank">PGR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-06.30.22.pdf">Baron Growth Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/2Q22-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_58936293e76f4b18a81f15c112767f12.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/POOL " target="_blank">POOL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q2.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2022/HL-EM-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner Global Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/SIVB " target="_blank">SIVB </a><a href="https://roic.ai/company/ADYEY" target="_blank">ADYEY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Companies-Quarterly-Report-2Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner International Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-International-Small-Companies-Quarterly-Report-2Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/62eb088133bf8171c47f3445/1659570306154/2022.Q2+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/EVBG " target="_blank">EVBG </a><a href="https://roic.ai/company/XPEL " target="_blank">XPEL </a><a href="https://roic.ai/company/NGMS" target="_blank">NGMS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=9707b2a5f8">Argosy Investors</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/DFH " target="_blank">DFH </a><a href="https://roic.ai/company/AMOT " target="_blank">AMOT </a><a href="https://roic.ai/company/CURV " target="_blank">CURV </a><a href="https://roic.ai/company/FTV " target="_blank">FTV </a><a href="https://roic.ai/company/VNT " target="_blank">VNT </a><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/WBD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-06.30.22.pdf">Baron Partners Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-06.30.22.pdf">Baron Small Cap Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/SPT" target="_blank">SPT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/posts/artko-capital-2q-2022-partner-letter-wQrTlD7W">Artko Capital</a></td><td width="13%">8/16/2022</td><td width="39%"><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/PBPB " target="_blank">PBPB </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/HQI" target="_blank">HQI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/62e1b3a1a3675577a5c65806/1658958753933/2Q22+letter+final.pdf">Long Cast Advisers </a></td><td width="13%">8/16/2022</td><td width="39%"><a href="https://roic.ai/company/CCRN " target="_blank">CCRN </a><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/QRHC " target="_blank">QRHC </a><a href="https://roic.ai/company/DAIO " target="_blank">DAIO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/07/2022Q2-Commentary.pdf">Palm Capital</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/62f449c44ff2ac1a47ebbec8/1660176836873/Bonsai+Partners+Fund+Q2+2022+Investor+Letter+Final+For+Distribution.pdf">Bonsai Partners</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/RDBBF " target="_blank">RDBBF </a><a href="https://roic.ai/company/XPEL" target="_blank">XPEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/insider-buying-and-buybacks-at-hqi?utm_source=substack&utm_medium=email">Mindset Value Fund</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/MRMD " target="_blank">MRMD </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/NNI " target="_blank">NNI </a><a href="https://roic.ai/company/CNRFF" target="_blank">CNRFF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rvcapital.ch/post/first-half-2022-letter-to-co-investors-in-business-owner?utm_campaign=6b0317a6-2ab9-4e29-9937-076fe1218d6b&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/CACC " target="_blank">CACC </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/CVNA" target="_blank">CVNA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.gwinvestors.com/wp-content/uploads/2022.08.24-Q2-Letter-v3.pdf">GreenWood Investors</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/CTTPY " target="_blank">CTTPY </a><a href="https://roic.ai/company/KOD " target="_blank">KOD </a><a href="https://roic.ai/company/MEIP " target="_blank">MEIP </a><a href="https://roic.ai/company/LTRPA " target="_blank">LTRPA </a><a href="https://roic.ai/company/RH" target="_blank">RH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.riveroakcapital.se/docs/2022H1-ShareholderLetter-inclSinchComment-RiverOakCapitalAB.pdf">River Oak Capital</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/QTGPF " target="_blank">QTGPF </a><a href="https://roic.ai/company/SINCH.ST " target="_blank">SINCH.ST </a><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/APFDX-APDDX-APHDX-QCommentary-2Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/MAREL.AS " target="_blank">MAREL.AS </a><a href="https://roic.ai/company/VEEV " target="_blank">VEEV </a><a href="https://roic.ai/company/ON" target="_blank">ON</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTKX-APDKX-APHKX-QCommentary-2Q22-vR.pdf">Artisan International Value Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTMX-APDMX-APHMX-QCommentary-2Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/VEEV " target="_blank">VEEV </a><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/RYAN " target="_blank">RYAN </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTSX-APDSX-APHSX-QCommentary-2Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/NVST " target="_blank">NVST </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/JBT " target="_blank">JBT </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/SPT " target="_blank">SPT </a><a href="https://roic.ai/company/DV" target="_blank">DV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTLX-APDLX-APHLX-QCommentary-2Q22-vR.pdf">Artisan Value Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/BAC " target="_blank">BAC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://goodhavenfunds.com/media/GOODX%202022%20Semi-Annual%20Report.pdf">GoodHaven Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ad6aa59-a7ab-2ada-d10c-d6a911285822/Steel_City_Capital_2Q_22_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/TRUP " target="_blank">TRUP </a><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/SCI " target="_blank">SCI </a><a href="https://roic.ai/company/ETRN " target="_blank">ETRN </a><a href="https://roic.ai/company/UNTC " target="_blank">UNTC </a><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/630ae597b0970b461c0bb3a1/1661658519729/Greenhaven+Road+%282022+Q2%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">8/31/2022</td><td width="39%"><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">1st Quarter 2022</span>
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<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/04/STJIC-Adviser-Letter-2022-Q1.pdf">St. James Investment Company </a></td><td width="13%">4/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/04/QUARTERLY-REPORT-March-2022-Public.pdf">East72 Holdings</a></td><td width="13%">4/07/2022</td><td width="39%"><a href="https://roic.ai/company/VWAGY" target="_blank">VWAGY </a><a href="https://roic.ai/company/AU1.AX" target="_blank">AU1.AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/dopisy-akcionarum/war">Vltava Fund</a></td><td width="13%">4/08/2022</td><td width="39%"><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/CE " target="_blank">CE </a><a href="https://roic.ai/company/KLAC" target="_blank">KLAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/624a258b6c76b76db54c3f1f/1649026443456/Q12022.pdf">Comus Investments</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_a39d94d07f5a4ff8a1deec3550b06e6c.pdf">Palm Valley Capital Fund</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/HTLD " target="_blank">HTLD </a><a href="https://roic.ai/company/PLPC " target="_blank">PLPC </a><a href="https://roic.ai/company/MLR " target="_blank">MLR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/q1-2022-letter/">Moon Capital</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/MLNK " target="_blank">MLNK </a><a href="https://roic.ai/company/LGIH " target="_blank">LGIH </a><a href="https://roic.ai/company/GRBK" target="_blank">GRBK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/6151d62c-8cdf-d92d-0813-b9836d243d33/March_2022_Investor_Letter_What_if_a_Recession_is_the_Curevfin.pdf">Richie Capital Group</a></td><td width="13%">4/11/2022</td><td width="39%"><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/NXST " target="_blank">NXST </a><a href="https://roic.ai/company/SEDG " target="_blank">SEDG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_3ab5b8a4581b46ff8e8add6ab6705cc9.pdf">Merion Road Capital</a></td><td width="13%">4/11/2022</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/PTON " target="_blank">PTON </a><a href="https://roic.ai/company/SPWH" target="_blank">SPWH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/e1858d66-b8a2-4b96-71df-a603ceb99dc3/First_Quarter_2022_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CTAS " target="_blank">CTAS </a><a href="https://roic.ai/company/SMCYY " target="_blank">SMCYY </a><a href="https://roic.ai/company/HOCPY " target="_blank">HOCPY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CTAS " target="_blank">CTAS </a><a href="https://roic.ai/company/SMCYY " target="_blank">SMCYY </a><a href="https://roic.ai/company/HOCPY " target="_blank">HOCPY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_9aeda574e86d4f54b0b574ce3caa252a.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/625756132bad9d6fb7b93d3a/1649890835942/Q1+2022+-+Investor+Letter+-+4-12.pdf">Worm Capital</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220331.pdf">FMI All Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CSL " target="_blank">CSL </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220331.pdf">FMI International Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/SDXAY " target="_blank">SDXAY </a><a href="https://roic.ai/company/GRG.L" target="_blank">GRG.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220331.pdf">FMI Large Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CSL " target="_blank">CSL </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220331.pdf">FMI Small Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/SKX " target="_blank">SKX </a><a href="https://roic.ai/company/NVT " target="_blank">NVT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/EOG " target="_blank">EOG </a><a href="https://roic.ai/company/ADM " target="_blank">ADM </a><a href="https://roic.ai/company/NUE" target="_blank">NUE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/THO" target="_blank">THO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/NXST " target="_blank">NXST </a><a href="https://roic.ai/company/ABC " target="_blank">ABC </a><a href="https://roic.ai/company/PPG " target="_blank">PPG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/RDN " target="_blank">RDN </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/COLD " target="_blank">COLD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6253f41981bad02de3f2175a/1649669145713/2022+Q1.pdf">Blue Tower Asset Management</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/04/1Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=2249">Miller/Howard Investments</a></td><td width="13%">4/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/04/Q1-2022-letter.pdf">Distillate Capital</a></td><td width="13%">4/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Core-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Micro-Cap-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/KRNT " target="_blank">KRNT </a><a href="https://roic.ai/company/PRPL " target="_blank">PRPL </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/HLLY " target="_blank">HLLY </a><a href="https://roic.ai/company/SLP" target="_blank">SLP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Value-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/KRNT " target="_blank">KRNT </a><a href="https://roic.ai/company/MEDP " target="_blank">MEDP </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/HQY " target="_blank">HQY </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/EEFT " target="_blank">EEFT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Value-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Ultra-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2022/04/2022-03-March-Investor-Update.pdf">LRT Capital</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/PSA " target="_blank">PSA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2022.pdf">L1 Capital Long Short Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/04/L1-Capital-International-March-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2022/">Oakmark Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/EFX " target="_blank">EFX </a><a href="https://roic.ai/company/GPN " target="_blank">GPN </a><a href="https://roic.ai/company/PINS " target="_blank">PINS </a><a href="https://roic.ai/company/PHM " target="_blank">PHM </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2022/">Oakmark Global Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/BAYRY " target="_blank">BAYRY </a><a href="https://roic.ai/company/GLNCY " target="_blank">GLNCY </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/GM " target="_blank">GM </a><a href="https://roic.ai/company/CS" target="_blank">CS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-quarter-2022/">Oakmark Global Select Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-first-quarter-2022/">Oakmark International Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2022/">Oakmark Select Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-first-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_2b058680f1c7435ea64a4f5bcfea20bb.pdf">Old West Capital Management</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/BG" target="_blank">BG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/625ac340cf3dfa42945771c0/1650115393148/Laughing+Water+Capital+Q1%2722.pdf">Laughing Water Capital</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/TACT " target="_blank">TACT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/04/HCM-Q1-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/NOTV " target="_blank">NOTV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/GRI.L" target="_blank">GRI.L</a><a href="https://roic.ai/company/DHI " target="_blank">DHI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/625d4cf5eef5817d8a32bae1/1650281718164/Upslope+-+2022Q1+Letter.pdf">Upslope Capital Management</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/BWXT " target="_blank">BWXT </a><a href="https://roic.ai/company/NSKFF " target="_blank">NSKFF </a><a href="https://roic.ai/company/CMGMF " target="_blank">CMGMF </a><a href="https://roic.ai/company/SLGN" target="_blank">SLGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/04/Akre-Focus-Fund-Quarterly-Commentary-2022-Q1.pdf#page=1">Akre Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/PLAN " target="_blank">PLAN </a><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/NEOG " target="_blank">NEOG </a><a href="https://roic.ai/company/CFLT " target="_blank">CFLT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/HQY " target="_blank">HQY </a><a href="https://roic.ai/company/CHX " target="_blank">CHX </a><a href="https://roic.ai/company/PDCE " target="_blank">PDCE </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/CRYX " target="_blank">CRYX </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/CRWD " target="_blank">CRWD </a><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/AMD " target="_blank">AMD </a><a href="https://roic.ai/company/NTRA" target="_blank">NTRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/APR " target="_blank">APR </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/SWIM" target="_blank">SWIM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/1q2022-commentary">Whitebrook Capital</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/q1-2022-letter-be-greedy-when-everyone-else-is-fearful">Rowan Street Capital</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/DOCU " target="_blank">DOCU </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-03.31.22.pdf">Baron Health Care Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/ANTM " target="_blank">ANTM </a><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/RHHBY" target="_blank">RHHBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-03.31.22.pdf">Baron Real Estate Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/MTN " target="_blank">MTN </a><a href="https://roic.ai/company/PSA " target="_blank">PSA </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/GDS " target="_blank">GDS </a><a href="https://roic.ai/company/LVS " target="_blank">LVS </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2022/04/PzenaNewsletter-Commentary-1Q22.pdf">Pzena Investment Management</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202112/Commentary-Small-Cap-Fund-2021-12-31.pdf?c=637860577560000000">Diamond Hill Small Cap Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/RHP " target="_blank">RHP </a><a href="https://roic.ai/company/ERII " target="_blank">ERII </a><a href="https://roic.ai/company/JOUT " target="_blank">JOUT </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-03.31.22.pdf">Baron Discovery Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/ACC " target="_blank">ACC </a><a href="https://roic.ai/company/AXON " target="_blank">AXON </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/first-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/GOOGL " target="_blank">GOOGL </a><a href="https://roic.ai/company/CMG " target="_blank">CMG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q1NP.pdf">Hoisington Investment Management</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1eWlvQ6bBGVUrfdlMLRdnD2SXg_k4BxHc/view">Greenlight Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/BHF " target="_blank">BHF </a><a href="https://roic.ai/company/INSW " target="_blank">INSW </a><a href="https://roic.ai/company/RYAAY " target="_blank">RYAAY </a><a href="https://roic.ai/company/SNX " target="_blank">SNX </a><a href="https://roic.ai/company/SWN " target="_blank">SWN </a><a href="https://roic.ai/company/WFRD" target="_blank">WFRD</a><a href="https://roic.ai/company/WFRD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/626419bdf119917020e60231/1650727357479/NZS+Capital+Q1+2022+Letter.pdf">NZS Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/1q22_scv_commentary.pdf">Bernzott Capital Advisors</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/HALO " target="_blank">HALO </a><a href="https://roic.ai/company/HCI " target="_blank">HCI </a><a href="https://roic.ai/company/MP " target="_blank">MP </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/VNOM " target="_blank">VNOM </a><a href="https://roic.ai/company/CMP" target="_blank">CMP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202203.pdf">Bronte Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/HLF" target="_blank">HLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/letters">Arch Capital Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/WIX" target="_blank">WIX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://okeefestevens.com/wp-content/uploads/2022/04/Q1-2022-Letter.pdf">O'Keefe Stevens</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/EAF " target="_blank">EAF </a><a href="https://roic.ai/company/NMRK " target="_blank">NMRK </a><a href="https://roic.ai/company/INTC " target="_blank">INTC </a><a href="https://roic.ai/company/DFIN " target="_blank">DFIN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.nelsoncap.com/2022/04/19/a-shift-to-value/">Nelson Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/1q/ARTKX-APDKX-APHKX-QCommentary-1Q22-vR.pdf">Artisan International Value Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/INGVF " target="_blank">INGVF </a><a href="https://roic.ai/company/DANOY " target="_blank">DANOY </a><a href="https://roic.ai/company/ACGL " target="_blank">ACGL </a><a href="https://roic.ai/company/ST " target="_blank">ST </a><a href="https://roic.ai/company/GRMN " target="_blank">GRMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/1q/ARTMX-APDMX-APHMX-QCommentary-1Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/WMS " target="_blank">WMS </a><a href="https://roic.ai/company/ZI " target="_blank">ZI </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/NVST " target="_blank">NVST </a><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/a-plethora-of-new-macro-trends/?nowprocket=1">Crestcat Capital</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q1.pdf">Alphyn Capital Management</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/NPSNY " target="_blank">NPSNY </a><a href="https://roic.ai/company/W" target="_blank">W</a><a href="https://roic.ai/company/W" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/62631820b0120447ae1bfd0d/1650661409058/Q1+2022+Letter.pdf">Curreen Capital</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/625f19fcdfe4601f6c548eac/1650399740156/GCAM+Q1+2022+letter.pdf">Giverny Capital Asset Management</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/FIVE " target="_blank">FIVE </a><a href="https://roic.ai/company/ERFSF " target="_blank">ERFSF </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/IBP " target="_blank">IBP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q1-2022-letter">Andvari Associates</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/TOITF" target="_blank">TOITF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/626308527b9928476cd4c91a/1650657362518/Nordstern+Capital+1Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/THQQF " target="_blank">THQQF </a><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/EVVTY " target="_blank">EVVTY </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/ARCH " target="_blank">ARCH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1651366770635">Miller Income Strategy</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/VALE " target="_blank">VALE </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/HRB " target="_blank">HRB </a><a href="https://roic.ai/company/SDIG " target="_blank">SDIG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1651366550692">Miller Opportunity Trust</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/OVV " target="_blank">OVV </a><a href="https://roic.ai/company/FANG " target="_blank">FANG </a><a href="https://roic.ai/company/CLF " target="_blank">CLF </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/HLF" target="_blank">HLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637868432950000000">Weitz Hickory Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/AZO" target="_blank">AZO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637868432950000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637868432950000000">Weitz Partners Value Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637868432950000000">Weitz Value Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/FB" target="_blank">FB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2022.pdf">Polen Capital - Global Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/ALGN" target="_blank">ALGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2022.pdf">Polen Capital - International Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2022/HL-EM-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Global Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/ROK " target="_blank">ROK </a><a href="https://roic.ai/company/SBGSY " target="_blank">SBGSY </a><a href="https://roic.ai/company/DE " target="_blank">DE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Cos-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/TCHBF " target="_blank">TCHBF </a><a href="https://roic.ai/company/KWS.L" target="_blank">KWS.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner International Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-Intl-Small-Cos-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/04/Epoch-Quarterly-Newsletter_April-2022.pdf">Epoch Investment Partners</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-03.31.22.pdf">Baron Asset Fund</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/EPAM " target="_blank">EPAM </a><a href="https://roic.ai/company/TFX " target="_blank">TFX </a><a href="https://roic.ai/company/CSGP " target="_blank">CSGP </a><a href="https://roic.ai/company/FICO" target="_blank">FICO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/626fcd2edf6cb02eb0e8d2e3/1651494191083/2022.Q1+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/NGMS " target="_blank">NGMS </a><a href="https://roic.ai/company/DSKE " target="_blank">DSKE </a><a href="https://roic.ai/company/XPEL" target="_blank">XPEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-03.31.22.pdf">Baron Small Cap Fund</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/PGNY " target="_blank">PGNY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2022/04/Greystone-Capital-Q1-2022-Letter.pdf">Greystone Capital Management</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/62701052a50f890241d6532e/1651511379503/1Q22+letter.pdf">Long Cast Advisers </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/DAIO" target="_blank">DAIO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/626fe5c78d02785e0c2d9450/1651500487422/Q1%2722+letter.pdf">1 Main Capital Partners</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/FIGS" target="_blank">FIGS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_54611dd9142d4b99bd5919ac79a27e36.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/AYI " target="_blank">AYI </a><a href="https://roic.ai/company/MMS " target="_blank">MMS </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/6263e168f5c19b0ca3ab9afd/1650712936941/Greenhaven+Road+%282022+Q1%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/TDOC " target="_blank">TDOC </a><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-1Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/TSM " target="_blank">TSM </a><a href="https://roic.ai/company/WZZAF " target="_blank">WZZAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-1Q2022.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/BMBL " target="_blank">BMBL </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/HLNE " target="_blank">HLNE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6271768f1b27f83c5c8e5b7c/1651603089351/Q1+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/QUCT " target="_blank">QUCT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q1-2022-Roundtable-Discussion-for-Website_FINAL.pdf">Horizon Kinetics</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-03.31.22.pdf">Baron FinTech Fund</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/EFX " target="_blank">EFX </a><a href="https://roic.ai/company/GLOB " target="_blank">GLOB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q1.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202022%20Final.pdf">Tweedy Browne</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/BZZUY " target="_blank">BZZUY </a><a href="https://roic.ai/company/KOYJF " target="_blank">KOYJF </a><a href="https://roic.ai/company/THO " target="_blank">THO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/36dbc4dd-55c3-16ab-a279-58bcc8775251/Steel_City_Capital_1Q_22_Partner_Letter.pdf">Steel City Capital</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/SCI " target="_blank">SCI </a><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/LILA " target="_blank">LILA </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/APM" target="_blank">APM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/Q1%202022%20Investor%20Letter%20-%20Final.pdf">Praetorian Capital </a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-commentary-2022-03.pdf?sfvrsn=b42909d_4">FPA Crescent Fund</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-qr-small-cap-value-fund-commentary-2022-q1.pdf?sfvrsn=8a4b909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2022-Q1-Aikya-letter.pdf">Aikya Funds</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1WM3rALdle5NhFgpyZF2jcNIXWe73VkYp/view">Tidefall Capital Management</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20220331.pdf">Rondure Global</a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlightcapital.com/saltlight-snn-worldwide-flexible-fund-investor-letter-1q22/">Saltlight Capital </a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/6282f5aca591b577f04a2bef/1652749741615/Bonsai+Partners+Fund+Q1+2022+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/ESTC" target="_blank">ESTC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://4043042.fs1.hubspotusercontent-na1.net/hubfs/4043042/Content%20Offers/2022.Q1%20Commentary/2022.Q1%20GR%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/_files/ugd/3b0d6d_28e86645644f4099b5b411a3025eaa0e.pdf">Saga Partners</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/RDFN " target="_blank">RDFN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1TAGBJGoJzWm4JG4ubsb4vXyV72RBenz3/view">Andaz Private Investments</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/05/DKAM-ROE-Reporter-April-2022-Final-.pdf">Donville Kent Asset Management</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/EHMEF " target="_blank">EHMEF </a><a href="https://roic.ai/company/GIVX.TO " target="_blank">GIVX.TO </a><a href="https://roic.ai/company/VHIBF " target="_blank">VHIBF </a><a href="https://roic.ai/company/CTSDF" target="_blank">CTSDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2022-Q1.pdf">Hayden Capital</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-q1.pdf?sfvrsn=7b4d909d_6">FPA U.S. Core Equity Fund</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/627182cef9390517a0bdfe5f/1651606222430/Maran+Partners+Fund+LP+2022+1Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/1Q22%20-%20FV.html">Bireme Capital</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/CGEAF " target="_blank">CGEAF </a><a href="https://roic.ai/company/FB" target="_blank">FB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/627419a4d25dbf262c894fbd/1651775908325/2022.Q1+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/CTTZF " target="_blank">CTTZF </a><a href="https://roic.ai/company/SMNEY " target="_blank">SMNEY </a><a href="https://roic.ai/company/LUCRF " target="_blank">LUCRF </a><a href="https://roic.ai/company/IVPAF " target="_blank">IVPAF </a><a href="https://roic.ai/company/AOIFF" target="_blank">AOIFF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=2cf5241e3e">Argosy Investors</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/VZIO " target="_blank">VZIO </a><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/IS" target="_blank">IS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-1q-2022-partner-letter-wl2T621Y">Artko Capital</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/GOED WS " target="_blank">GOED WS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">4th Quarter 2021</span>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/01/QUARTERLY-REPORT-December-2021-Web.pdf">East72 Holdings</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/ARKK" target="_blank">ARKK </a><a href="https://roic.ai/company/YBRHF" target="_blank">YBRHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_68_en.pdf">Vltava Fund</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/SBRCY " target="_blank">SBRCY </a><a href="https://roic.ai/company/BMWYY " target="_blank">BMWYY </a><a href="https://roic.ai/company/LH" target="_blank">LH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/61d3a86180af5560d2fc9f5e/1641261154076/Q42021.pdf">Comus Investments</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/01/STJIC-Adviser-Letter-2021-Q4.pdf">St. James Investment Company </a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_66728216a304405b84fd411d2f30a550.pdf">Palm Valley Capital Fund</a></td><td width="13%">1/09/2022</td><td width="39%"><a href="https://roic.ai/company/AGI " target="_blank">AGI </a><a href="https://roic.ai/company/DRQ " target="_blank">DRQ </a><a href="https://roic.ai/company/CRD-A " target="_blank">CRD-A </a><a href="https://roic.ai/company/WHGLY" target="_blank">WHGLY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/ec7645_e919e84dd8a844a18b04f9f24876b2fb.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">1/12/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20211231.pdf">FMI All Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20211231.pdf">FMI International Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20211231.pdf">FMI Large Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20211231.pdf">FMI Small Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/01/Akre-Focus-Fund-Quarterly-Commentary-2021-Q4.pdf#page=1">Akre Focus Fund</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">1/14/2022</td><td width="39%"><a href="https://roic.ai/company/TFX" target="_blank">TFX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">1/14/2022</td><td width="39%"><a href="https://roic.ai/company/TFX" target="_blank">TFX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q4-2021-letter">Andvari Associates</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/MA " target="_blank">MA </a><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/NOVT" target="_blank">NOVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-12.31.21.pdf">Baron Asset Fund</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-12.31.21.pdf">Baron Discovery Fund</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/BYD " target="_blank">BYD </a><a href="https://roic.ai/company/ENFN " target="_blank">ENFN </a><a href="https://roic.ai/company/BASE" target="_blank">BASE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_ff750f7afc8b4601a14ea1571b376bfc.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/TSCO " target="_blank">TSCO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-12.31.21.pdf">Baron Real Estate Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-12.31.21.pdf">Baron Health Care Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/AZN " target="_blank">AZN </a><a href="https://roic.ai/company/MCK " target="_blank">MCK </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/61df939be19b8f24cc253228/1642042267535/Q4+2021+Letter.pdf">Curreen Capital</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/AMD " target="_blank">AMD </a><a href="https://roic.ai/company/VCRA " target="_blank">VCRA </a><a href="https://roic.ai/company/BILL " target="_blank">BILL </a><a href="https://roic.ai/company/TASK " target="_blank">TASK </a><a href="https://roic.ai/company/BSY" target="_blank">BSY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/UPST " target="_blank">UPST </a><a href="https://roic.ai/company/MQ" target="_blank">MQ</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/SBNY " target="_blank">SBNY </a><a href="https://roic.ai/company/MEG " target="_blank">MEG </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/EVBG" target="_blank">EVBG</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q4.pdf">Alphyn Capital Management</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/OACB " target="_blank">OACB </a><a href="https://roic.ai/company/WANSF " target="_blank">WANSF </a><a href="https://roic.ai/company/W" target="_blank">W</a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2021/">Oakmark Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/WTW " target="_blank">WTW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2021/">Oakmark Global Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2021/">Oakmark Global Select Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-fourth-quarter-2021/">Oakmark International Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2021/">Oakmark Select Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/020149e8628527512acbfb43b/files/031c3cdc-d04b-09f3-5081-900e3c1555bd/Tollymore_letters_to_partners_Dec_2021.pdf">Tollymore Investment Partners</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/61e3d61d963af533b3d8f01c/1642321437303/2021+Q4.pdf">Blue Tower Asset Management</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/PPG" target="_blank">PPG </a><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/DLTR" target="_blank">DLTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/CCBG " target="_blank">CCBG </a><a href="https://roic.ai/company/PRGO " target="_blank">PRGO </a><a href="https://roic.ai/company/BRY " target="_blank">BRY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/TRS " target="_blank">TRS </a><a href="https://roic.ai/company/KN " target="_blank">KN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/CVS" target="_blank">CVS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/LOW " target="_blank">LOW </a><a href="https://roic.ai/company/BDX " target="_blank">BDX </a><a href="https://roic.ai/company/NVS " target="_blank">NVS </a><a href="https://roic.ai/company/FISV " target="_blank">FISV </a><a href="https://roic.ai/company/V" target="_blank">V </a><a href="https://roic.ai/company/BKI " target="_blank">BKI </a><a href="https://roic.ai/company/PH" target="_blank">PH</a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BKI " target="_blank">BKI </a><a href="https://roic.ai/company/MKSI " target="_blank">MKSI </a><a href="https://roic.ai/company/DLTR" target="_blank">DLTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/NEWR " target="_blank">NEWR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblecapital.com/wp-content/uploads/2022/01/ECM-Quarterly-Letter-4Q21.pdf">Ensemble Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BL " target="_blank">BL </a><a href="https://roic.ai/company/COST " target="_blank">COST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/61ddf8db43fdcd2d6b033b4b/1641937116559/NZS+Capital+Q4+2021+Letter.pdf">NZS Capital</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3117">Miller/Howard Investments</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/INV " target="_blank">INV </a><a href="https://roic.ai/company/CTT " target="_blank">CTT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BATRA " target="_blank">BATRA </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/FRPH " target="_blank">FRPH </a><a href="https://roic.ai/company/FPH " target="_blank">FPH </a><a href="https://roic.ai/company/IVT" target="_blank">IVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/01/Q4-2021-Letter.pdf">Distillate Capital</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_d59e5529852440a9a9ce67ff4be178ba.pdf">Old West Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/PINS " target="_blank">PINS </a><a href="https://roic.ai/company/TWTR " target="_blank">TWTR </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/SQ " target="_blank">SQ </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/SOFI " target="_blank">SOFI </a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_4Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/61e88024ea403840e2631912/1642627109448/Upslope+-+2021Q4+Letter.pdf">Upslope Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/MKTX " target="_blank">MKTX </a><a href="https://roic.ai/company/CASY" target="_blank">CASY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/01/Alluvial-Capital-Management-Q4-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/LICT " target="_blank">LICT </a><a href="https://roic.ai/company/CRAWA " target="_blank">CRAWA </a><a href="https://roic.ai/company/GTX " target="_blank">GTX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/TIMB " target="_blank">TIM.WSE</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/4q21_scv_commentary__final_.pdf">Bernzott Capital Advisors</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/WSC " target="_blank">WSC </a><a href="https://roic.ai/company/HI " target="_blank">HI </a><a href="https://roic.ai/company/UPLD " target="_blank">UPLD </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/JR" target="_blank">JRVR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/01/4Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/CPRI " target="_blank">CPRI </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/EVBG " target="_blank">EVBG </a><a href="https://roic.ai/company/GENI " target="_blank">GENI </a><a href="https://roic.ai/company/HSKA" target="_blank">HSKA</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/61e1a8df7c45833bf347b6e2/1642178783496/2021.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/GSL " target="_blank">GSL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2021.pdf">L1 Capital Long Short Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/01/L1-International-Fund-December-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/CRH" target="_blank">CRH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-12.31.21_1.pdf">Baron Small Cap Fund</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/SG" target="_blank">SG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-12.31.21.pdf">Baron Growth Fund</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/MIR " target="_blank">MIR </a><a href="https://roic.ai/company/SG " target="_blank">SG </a><a href="https://roic.ai/company/WRBY" target="_blank">WRBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-2021-year-end-letter">Rowan Street Capital</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/DOCU " target="_blank">DOCU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2021Q4NP.pdf">Hoisington Investment Management</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/4q2021-commentary">Whitebrook Capital</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_00e46e69dc984559a5f36c6ac0019842.pdf">Merion Road Capital</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/ATVI " target="_blank">ATVI </a><a href="https://roic.ai/company/LEAT " target="_blank">LEAT </a><a href="https://roic.ai/company/LNSR " target="_blank">LNSR </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/61ec866c184e8c17755464c9/1642890860567/Nordstern+Capital+4Q2021+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/STNE" target="_blank">STNE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DOCU" target="_blank">DOCU</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2021.pdf">Polen Capital - Global Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/ADSK " target="_blank">ADSK </a><a href="https://roic.ai/company/V" target="_blank">V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2021.pdf">Polen Capital - International Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTKX-APDKX-APHKX-QCommentary-4Q21-vR.pdf">Artisan International Value Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/WTW " target="_blank">WTW </a><a href="https://roic.ai/company/ASBFY" target="_blank">ASBFY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTMX-APDMX-APHMX-QCommentary-4Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTSX-APDSX-APHSX-QCommentary-4Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/IRTC " target="_blank">IRTC </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/WK " target="_blank">WK </a><a href="https://roic.ai/company/BIGC" target="_blank">BIGC</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTLX-APDLX-APHLX-QCommentary-4Q21-vR.pdf">Artisan Value Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/DIS" target="_blank">DIS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2022/01/PzenaNewsletter-Commentary-4Q21.pdf">Pzena Investment Management</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/61eb18135e28e93a1b989a12/1642797076632/GCAM+2021+Q4+letter+.pdf">Giverny Capital Asset Management</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202112/Commentary-Small-Cap-Fund-2021-12-31.pdf?c=637787374490000000">Diamond Hill Small Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/RHP " target="_blank">RHP </a><a href="https://roic.ai/company/ERII " target="_blank">ERII </a><a href="https://roic.ai/company/JOUT " target="_blank">JOUT </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/deep-value-strategy-4q21-letter/">Miller Deep Value</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/ENDP " target="_blank">ENDP </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/CNDT " target="_blank">CNDT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1643292697477">Miller Income Strategy</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/APO " target="_blank">APO </a><a href="https://roic.ai/company/SCU " target="_blank">SCU </a><a href="https://roic.ai/company/SBRCY " target="_blank">SBRCY </a><a href="https://roic.ai/company/OMF" target="_blank">OMF</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/opportunity-equity-4q21-letter/">Miller Opportunity Equity</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/TMHC " target="_blank">TMHC </a><a href="https://roic.ai/company/MTTR " target="_blank">MTTR </a><a href="https://roic.ai/company/FANG " target="_blank">FANG </a><a href="https://roic.ai/company/SFIX " target="_blank">SFIX </a><a href="https://roic.ai/company/SPLK " target="_blank">SPLK </a><a href="https://roic.ai/company/NCLH" target="_blank">NCLH</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/2021-Annual-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/NOTV " target="_blank">NOTV </a><a href="https://roic.ai/company/UFPT " target="_blank">UFPT </a><a href="https://roic.ai/company/UTMD" target="_blank">UTMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_01_18.pdf">Myrmikan Research</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637787358840000000">Weitz Hickory Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637787358840000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637787358840000000">Weitz Partners Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637787358840000000">Weitz Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1Nb2a7A-4S588IJtN5UVTb2Q_urhCnaNX/view">Greenlight Capital</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/BHF " target="_blank">BHF </a><a href="https://roic.ai/company/TECK " target="_blank">TECK </a><a href="https://roic.ai/company/DNMR " target="_blank">DNMR </a><a href="https://roic.ai/company/GPN " target="_blank">GPN </a><a href="https://roic.ai/company/CPRI " target="_blank">CPRI </a><a href="https://roic.ai/company/GLPG " target="_blank">GLPG </a><a href="https://roic.ai/company/ODP" target="_blank">ODP</a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/AMG " target="_blank">AMG </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/BIIB " target="_blank">BIIB </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/H " target="_blank">H </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/WMB " target="_blank">WMB </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/BIIB " target="_blank">BIIB </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CFRUY " target="_blank">CFRUY </a><a href="https://roic.ai/company/DPZ " target="_blank">DPZ </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CNX " target="_blank">CNX </a><a href="https://roic.ai/company/RLGY " target="_blank">RLGY </a><a href="https://roic.ai/company/MAT " target="_blank">MAT </a><a href="https://roic.ai/company/RNR " target="_blank">RNR </a><a href="https://roic.ai/company/IDRSF " target="_blank">IDRSF </a><a href="https://roic.ai/company/LNXSF " target="_blank">LNXSF </a><a href="https://roic.ai/company/KODK" target="_blank">KODK</a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202112.pdf">Bronte Capital</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/61e5e320b5857c262626e510/1642455841875/4Q21+letter.pdf">Long Cast Advisers </a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/AIMFF " target="_blank">AIMFF </a><a href="https://roic.ai/company/SNES " target="_blank">SNES </a><a href="https://roic.ai/company/SOTK " target="_blank">SOTK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/HL-EM-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CCHGY " target="_blank">CCHGY </a><a href="https://roic.ai/company/MGLUY " target="_blank">MGLUY </a><a href="https://roic.ai/company/XP " target="_blank">XP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/HL-Global-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Global Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/MELI" target="_blank">MELI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/HL-Global-Small-Cos-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/SLP " target="_blank">SLP </a><a href="https://roic.ai/company/ALTR " target="_blank">ALTR </a><a href="https://roic.ai/company/NEMTF " target="_blank">NEMTF </a><a href="https://roic.ai/company/ABMD" target="_blank">ABMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IADR/2021/HL-Intl-Equity-ADR-Quarterly-Report-4Q21.pdf">Harding Loevner International Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/HL-Intl-Small-Cos-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/MHSDF" target="_blank">MHSDF</a><a href="https://roic.ai/company/LZRFY " target="_blank">LZRFY </a><a href="https://roic.ai/company/VACNY " target="_blank">VACNY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2022/01/2021-12-December-Investor-Update.pdf">LRT Capital</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/WSO" target="_blank">WSO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_05e73048c3af46bfa6ed0f81e0f43a29.pdf">Arch Capital Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/SFM " target="_blank">SFM </a><a href="https://roic.ai/company/NNI " target="_blank">NNI </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/HRBR" target="_blank">HRBR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/825e7129-c367-9868-11ed-115b47c755b7/December_2021_Investor_Letter_The_Hidden_Taxvfin.pdf">Richie Capital Group</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/FREE " target="_blank">FREE </a><a href="https://roic.ai/company/AVGO " target="_blank">AVGO </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/ABT " target="_blank">ABT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/2022/01/15235630/Fundsmith-Equity-Funds-Q4-2021-Investor-Letter.pdf">Fundsmith Equity Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/MORN " target="_blank">MORN </a><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/OLLI " target="_blank">OLLI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/TRNS " target="_blank">TRNS </a><a href="https://roic.ai/company/NPTN " target="_blank">NPTN </a><a href="https://roic.ai/company/CCXI " target="_blank">CCXI </a><a href="https://roic.ai/company/MSGM " target="_blank">MSGM </a><a href="https://roic.ai/company/CSTL " target="_blank">CSTL </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/RDVT " target="_blank">RDVT </a><a href="https://roic.ai/company/BWMN " target="_blank">BWMN </a><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/ASPU " target="_blank">ASPU </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/TCDM " target="_blank">TCDM </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/BOOT " target="_blank">BOOT </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/MEDP " target="_blank">MEDP </a><a href="https://roic.ai/company/FRPT " target="_blank">FRPT </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/HQY" target="_blank">HQY</a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/CCXI " target="_blank">CCXI </a><a href="https://roic.ai/company/NVMI " target="_blank">NVMI </a><a href="https://roic.ai/company/FRPT " target="_blank">FRPT </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/CSTL" target="_blank">CSTL</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20211231.pdf">Rondure Global</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2021Q4.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Amana-Q4-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.turtlecreek.ca/wp-content/uploads/2022/01/Turtle-Creek-Quarterly-Commentary-2021-Q4.pdf">Turtle Creek</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=5ad662b014">Argosy Investors</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/LESL " target="_blank">LESL </a><a href="https://roic.ai/company/AGIL " target="_blank">AGIL </a><a href="https://roic.ai/company/CURV " target="_blank">CURV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://img1.wsimg.com/blobby/go/ee65fbd7-2d89-48b3-83e6-be9864c38c3b/downloads/2022%20Nitor%20Capital%20Management%20Annual%20Letter.pdf?ver=1643209078495">Nitor Capital</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/VST " target="_blank">VST </a><a href="https://roic.ai/company/CF " target="_blank">CF </a><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/61f4601ca0cc3227736bf76f/1643405340863/Greenhaven+Road+%282021+Q4%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/TDOC " target="_blank">TDOC </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/61f8b8cf6faed02fd91ec060/1643690191597/Q4+2021+Alta+Fox+Capital+Quarterly+Letter+-+final.pdf">Alta Fox Capital Management</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/IDT" target="_blank">IDT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/61f9cf7a3d4ef81723c5b357/1643761530528/Q4+2021+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/SODI " target="_blank">SODI </a><a href="https://roic.ai/company/PCHM " target="_blank">PCHM </a><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/WCRS" target="_blank">WCRS</a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/4Q21%20-%20FV.html">Bireme Capital</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/AFRM " target="_blank">AFRM </a><a href="https://roic.ai/company/TME " target="_blank">TME </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/02/HCM-Q4-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/CRNC" target="_blank">CRNC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-4Q2021.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/TME" target="_blank">TME</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary-4Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q4-Aikya-letter.pdf">Aikya Funds</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.firsteagle.com/FE-Global-Value-Team-Annual-Letter-2021_US">First Eagle Global Value</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/02/2021Q4-Commentary.pdf">Palm Capital</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/CRM" target="_blank">CRM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1KWg62-kXpSHzM2CGUzqlIA-6NFEERsOp/view">Andaz Private Investments</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/RKT " target="_blank">RKT </a><a href="https://roic.ai/company/XLNX " target="_blank">XLNX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/post/investor-letter-h2-2021">Saga Partners</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/RDFN" target="_blank">RDFN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/ypwx12sh2oxixmw/2021_CTG_InvestorLetter_III%20%28yr%20end%29.pdf?dl=0">Canterbury Tollgate</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/02/DKAM-ROE-Reporter-January-2022.pdf">Donville Kent Asset Management</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/NGMS " target="_blank">NGMS </a><a href="https://roic.ai/company/GIVX.TO" target="_blank">GIVX.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2022/02/Greystone-Capital-Q4-2021-Letter.pdf">Greystone Capital Management</a></td><td width="13%">2/07/2022</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/ID " target="_blank">ID </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/IDT" target="_blank">IDT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/84ecef49-45e5-424c-1d06-7450ff480952/Fourth_Quarter_2021_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="13%">2/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/62025b581b92b1229ea34236/1644321624479/Q4%2721+letter.pdf">1 Main Capital Partners</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/61f704c1f0e77848cc88879f/1643578562345/Maran+Partners+Fund+LP+2021+4Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/CDRE" target="_blank">CDRE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-12.31.21.pdf">Baron FinTech Fund</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/LPLA " target="_blank">LPLA </a><a href="https://roic.ai/company/EXFY" target="_blank">EXFY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-12.31.21.pdf">Baron Partners Fund</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1ckJEI9udIXZDWQ_jpwjUhnq1iTVWn0YI/view">Tidefall Capital Management</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/FFXDF" target="_blank">FFXDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2021.pdf">Evermore Global Value Fund</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmharbourcapital.com/files/PHC%20Letter%20Q4%202021-FINAL_EN.pdf">Palm Harbour Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/OCINF " target="_blank">OCINF </a><a href="https://roic.ai/company/GEAHF " target="_blank">GEAHF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/62050baea91a235dd67c8baa/1644497838872/Laughing+Water+Capital+YE+2021.pdf">Laughing Water Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/TACT" target="_blank">TACT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/caafeb57-9e30-8af0-e660-6464ae971825/Steel_City_Capital_4Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/GDOT " target="_blank">GDOT </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/SXC" target="_blank">SXC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202021%20Final.pdf">Tweedy Browne</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/VRTX " target="_blank">VRTX </a><a href="https://roic.ai/company/RBSFY " target="_blank">RBSFY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1NjbvXcjfNGinPg7Y3YySMQde4oN8gHjd/view">MPE Capital</a></td><td width="13%">2/11/2022</td><td width="39%"><a href="https://roic.ai/company/SQSP" target="_blank">SQSP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_d8d3433827ac482ea4648323a2e6ecdf.pdf">Emeth Value Capital</a></td><td width="13%">2/12/2022</td><td width="39%"><a href="https://roic.ai/company/BUR" target="_blank">BUR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://srk-capital.com/content_files/2022/02/SRK-Fund-H2-2021-Letter.pdf">SRK Capital</a></td><td width="13%">2/12/2022</td><td width="39%"><a href="https://roic.ai/company/HROW " target="_blank">HROW </a><a href="https://roic.ai/company/TTSH " target="_blank">TTSH </a><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/PYCFF " target="_blank">PYCFF </a><a href="https://roic.ai/company/RTMAF " target="_blank">RTMAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/mindset-value-cannabis-fund-year">Mindset Value Cannabis Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/VRNOF " target="_blank">VRNOF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fs.hubspotusercontent00.net/hubfs/6004402/Quarterly%20Letters/2021/2021%20Q4%20Investor%20Letter%20-%20Final.pdf">Praetorian Capital </a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/LEE " target="_blank">LEE </a><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q4-2021-Quarterly-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-12.31.21.pdf">Baron Opportunity Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/MRTX " target="_blank">MRTX </a><a href="https://roic.ai/company/CTV " target="_blank">CTV </a><a href="https://roic.ai/company/FIGS " target="_blank">FIGS </a><a href="https://roic.ai/company/SHOP" target="_blank">SHOP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SaltLight_Letter_4Q21.pdf">Saltlight Capital </a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q4.pdf?sfvrsn=ec17909d_6">FPA Crescent Fund</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/02/Epoch-Quarterly-Newsletter_January-2022.pdf">Epoch Investment Partners</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lucacap.com/_files/ugd/f50b59_1915e17451f345ce963f4a53ececbb78.pdf">Luca Capital</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q4.pdf">Hayden Capital</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/SE" target="_blank">SE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lyricalam.com/wp-content/uploads/2022/01/LAM-2021-U.S.-Review-letter-1.pdf">Lyrical Asset Management</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2021-annual-partner-letter-wBqTRnab">Artko Capital</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/GAIA " target="_blank">GAIA </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/NTIC " target="_blank">PBPB</a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2022/02/2021-Year-End-Commentary_FINAL.pdf">RGA Investment Advisors</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/SFIX " target="_blank">SFIX </a><a href="https://roic.ai/company/ROKU " target="_blank">ROKU </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/DBX " target="_blank">DBX </a><a href="https://roic.ai/company/TWTR " target="_blank">TWTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2022/02/bumbershoot-holdings-e28094-2022-2-feb-e28094-letter-to-partners-e28094-2021.pdf">Bumbershoot Holdings</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.broyhillasset.com/wp-content/uploads/2022/02/The-Broyhill-Letter-2021.Q4.pdf?ct=t(RSS_EMAIL_CAMPAIGN)&mc_cid=70cf4a1313&mc_eid=67cf7be10e">Broyhill Asset Management</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/CAR " target="_blank">CAR </a><a href="https://roic.ai/company/DLTR " target="_blank">DLTR </a><a href="https://roic.ai/company/MCK " target="_blank">MCK </a><a href="https://roic.ai/company/ABEV " target="_blank">ABEV </a><a href="https://roic.ai/company/BUD " target="_blank">BUD </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wormcapital.com/the-wormhole-source/q4-2021">Worm Capital</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2021-q4.pdf?sfvrsn=601e909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://taovalue.files.wordpress.com/2022/02/taovalue_2021_q4_final.pdf">Tao Value</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_4Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/TSCO " target="_blank">TSCO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Trust Funds</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/REZI " target="_blank">REZI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/621d8a9deabea5384d671d4b/1646103197454/2021+Q4_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/AVYA " target="_blank">AVYA </a><a href="https://roic.ai/company/OLN " target="_blank">OLN </a><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/MT " target="_blank">MT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/4b290b05-2ad7-5453-0d81-972ecbfe0df0/Rhizome_Partners_Q4_2021_Investor_Letter_Final_w_CP.pdf">Rhizome Partners</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/FRP " target="_blank">FRP </a><a href="https://roic.ai/company/HHC " target="_blank">HHC </a><a href="https://roic.ai/company/INDT " target="_blank">INDT </a><a href="https://roic.ai/company/CLPR" target="_blank">CLPR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2022/02/VVP-Annual-Letter-21.12.31.pdf">Vulcan Value Partners</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q4%20Commentary/2021.Q4%20GR%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<div><span style="font-size: large;"><br /></span></div><p></p><span style="font-size: large;">3rd Quarter 2021</span><br /><hr /><div><br /></div><div><br /></div><div>
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
</thead>
<tbody>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2021/10/QUARTERLY-REPORT-September-2021-WEB.pdf">East72 Holdings</a></td><td width="15%">10/08/2021</td><td width="39%">$ANSLY, $APPEF, $BOWX, $FRPH, $MAC, $LLC.AX</td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_67_en.pdf">Vltava Fund</a></td><td width="13%">10/08/2021</td><td width="39%">$WLTW</td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4518141/3rd%20Qtr%20Letter%20to%20Investors.pdf?__hstc=85836102.23c8f3e82a968957555abbebcad8e401.1633718563683.1633718563683.1633718563683.1&__hssc=85836102.1.1633718563684&__hsfp=2220563331&hsCtaTracking=f20d68ce-ba35-4ab5-8a9f-28c064d8d62e%7C38129298-76e6-4b80-827d-347d188cad6d">Massif Capital</a></td><td width="13%">10/08/2021</td><td width="39%">$SBLK</td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/10/HCM-Q3-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">10/08/2021</td><td width="39%">$SPSC, $FICO, $TRNS</td></tr>
<tr><td width="48%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_78696aa87a57428b8dc7e1d59a24f061.pdf">Palm Valley Capital Fund</a></td><td width="13%">10/09/2021</td><td width="39%">$THS, $TRFPF, $AMRK, $WHGLY</td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2021/10/STJIC-Adviser-Letter-2021-Q3-Final.pdf">St. James Investment Company </a></td><td width="13%">10/09/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/3bd743d8-12f8-fdff-fe90-0c8fbcc891da/September_2021_Investor_Letter_When_Everyone_is_in_Agreement_vfin.01.pdf">Richie Capital Group</a></td><td width="13%">10/11/2021</td><td width="39%">$FICO, $FREE, $INS, $MSCI</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/615770080d5db77b4d03451a/1633120265649/Q32021.pdf">Comus Investments</a></td><td width="13%">10/11/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6163cca8834694462ec5bf6c/1633930408143/2021+Q3.pdf">Blue Tower Asset Management</a></td><td width="13%">10/12/2021</td><td width="39%">$3723.T</td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_7edda3c956ef433dbbc1c1499ad03904.pdf">Wedgewood Partners</a></td><td width="13%">10/13/2021</td><td width="39%">$MSI, $UNH</td></tr>
<tr><td width="48%"><a href="https://dmzpartners.in/Documents/Files/DMZ-6993-DMZ-Partners-Semi-Annual-Letter-FY21-22.pdf">DMZ Partners</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210930.pdf">FMI All Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210930.pdf">FMI International Equity</a></td><td width="13%">10/14/2021</td><td width="39%">$RXLSF, $4403.T</td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210930.pdf">FMI Large Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210930.pdf">FMI Small Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%">$PCAR, $BRKB</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/616997337f463661f6409b2e/1634309939204/Q3+2021+Letter.pdf">Curreen Capital</a></td><td width="13%">10/15/2021</td><td width="39%">$JXN, $MIC</td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">10/15/2021</td><td width="39%">$RYAN, $CSGP</td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">10/15/2021</td><td width="39%">$BKR, $EOG</td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">10/15/2021</td><td width="39%">$AMZN, $ADI, $PPG, $TEL</td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/60e7cf14d93aeb546a13eaf3/1625804565827/Quarterly+Letter+-+Q3+2020.pdf">Worm Capital</a></td><td width="13%">10/16/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_70053807908848a9826c9af71f82c210.pdf">Merion Road Capital</a></td><td width="13%">10/16/2021</td><td width="39%">$BLDR, $RCKY</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/3Q21-Mid-Cap-Comm">Heartland Mid Cap Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$CBOE, $EXC, $SPB</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/3Q21-Value-Fund-Comm">Heartland Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$CVLG, $BBBY, $BRY</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/3Q21-VP-Comm">Heartland Value Plus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$POR, $FCFS, $HAE</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$INMD, $GXO, $UPST, $RNLX, $GENI, $PINS</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$RGEN, $MPWR, $PAYC, $CDNA, $SHAK, $NVRO</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$UPST, $GOOG, $MSFT, $ROKU, $PINS, $PYPL</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$UPST, $PCTY, $GLOB, $OLLI, $NVRO, $CLB</td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/3Q21-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$NTOV, $ELMD</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-letter-9.30.21.pdf">Baron Growth Fund</a></td><td width="13%">10/17/2021</td><td width="39%">$VLD, $DNUT, $SMRT</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-9.30.21.pdf">Baron Real Estate Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-9.30.21.pdf">Baron Health Care Fund</a></td><td width="13%">10/17/2021</td><td width="39%">$NTRA, $GDRX, $MRTX, $STVN</td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2021/">Oakmark Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2021/">Oakmark Global Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-third-quarter-2021/">Oakmark Global Select Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-third-quarter-2021/">Oakmark International Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-third-quarter-2021/">Oakmark International Small Cap Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2021/">Oakmark Select Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3091">Miller/Howard Investments</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/616748eb5c9562698ee55a81/1634158828217/NZS+Capital+Q3+2021+Letter+Final.pdf">NZS Capital</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$APTS, $WARFY, $</td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$MSGE</td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$BMWYY, $DDAIF, $BKRIF, $DB, $CSFFF, $LUNMF</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/616d53174eca1923cfcd5120/1634554647983/Upslope+-+2021Q3+Letter.pdf">Upslope Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$TCHBF, $BWXT</td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-q3-2021-letter">Rowan Street Capital</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_ee97904c9eeb422b94eafdc01a59a79d.pdf">Old West Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$FLGT</td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2021/10/Q3-2021-Letter.pdf">Distillate Capital</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q3.pdf">Alphyn Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$PSTH, $CSPLF, $CRSS, $CFX, $NPSNY, $PROSY, $TCEHY</td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/third-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="13%">10/20/2021</td><td width="39%">$BKNG, $LSTR</td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2021/10/3Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">10/20/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_09_30_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="13%">10/20/2021</td><td width="39%">$ATIP, $VNOM</td></tr>
<tr><td width="48%"><a href="https://www.docdroid.net/IwyWM87/qlet2021-03-3-1-1-pdf">Greenlight Capital</a></td><td width="13%">10/20/2021</td><td width="39%">$GRBK, $BHF, $CSPLF $SONO</td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$DISCK</td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$RNR</td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2021Q3NP.pdf">Hoisington Investment Management</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/3q2021-commentary">Whitebrook Capital</a></td><td width="13%">10/21/2021</td><td width="39%">$QRTEA</td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2021/10/L1-International-Fund-Sep-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$TXN</td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2021.pdf">L1 Capital Long Short Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q3-CVALUE-Review_FINAL-1.pdf">Horizon Kinetics</a></td><td width="13%">10/23/2021</td><td width="39%">$LNG, $TPL</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-letter-9.30.21.pdf">Baron Discovery Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$BASE, $SMRT, $MCG, $FORG, $QLYS</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-9.30.21.pdf">Baron Asset Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$HUBS</td></tr>
<tr><td width="48%"><a href="https://arisaig.com/wp-content/uploads/2021/10/Arisaig-Quarterly-October-2021.pdf">Arisaig Partners</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/6171ac247c6fe3670903e719/1634839592319/Kinsman+Oak+-+Q3+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$RICK</td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="13%">10/23/2021</td><td width="39%">$ABNB</td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2021.pdf">Polen Capital - Global Growth</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2021.pdf">Polen Capital - International Growth</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202109.pdf">Bronte Capital</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q3-Aikya-letter-Investment-Update-Autumn-2021.pdf">Aikya Funds</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2021_10_15.pdf">Myrmikan Research</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/september-performance-estimates/">Crestcat Capital</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2021/10/PzenaNewsletter-Commentary-3Q21-1.pdf">Pzena Investment Management</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202109/Commentary-Small-Cap-Fund-2021-09-30.pdf?c=637705371690000000">Diamond Hill Small Cap Fund</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2021/10/Akre-Focus-Fund-Quarterly-Commentary-2021-Q3.pdf#page=1">Akre Focus Fund</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20210930.pdf">Rondure Global</a></td><td width="13%">10/23/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTMX-APDMX-APHMX-QCommentary-3Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/NEO " target="_blank">NEO </a><a href="https://roic.ai/company/MQ " target="_blank">MQ </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/CDAY " target="_blank">CDAY </a><a href="https://roic.ai/company/ENTG" target="_blank">ENTG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTKX-APDKX-APHKX-QCommentary-3Q21-vR.pdf">Artisan International Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637705452170000000">Weitz Hickory Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637705452170000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637705452170000000">Weitz Partners Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637705452170000000">Weitz Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/6170313de7824974acd905cb/1634742589280/GCAM+Q3-2021+letter.pdf">Giverny Capital Asset Management</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/IIVI" target="_blank">IIVI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=0a903ea1f5">Argosy Investors</a></td><td width="13%">10/25/2021</td><td width="39%"><a href="https://roic.ai/company/DFH " target="_blank">DFH </a><a href="https://roic.ai/company/GO " target="_blank">GO </a><a href="https://roic.ai/company/RRTS " target="_blank">RRTS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd315918c-9729-4e3e-98ca-aac08ad53229_1928x2494.png">Tidefall Capital Management</a></td><td width="13%">10/25/2021</td><td width="39%"><a href="https://roic.ai/company/FRFHF" target="_blank">FRFHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">10/26/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-3Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">10/26/2021</td><td width="39%"><a href="https://roic.ai/company/OLO" target="_blank">OLO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://taovalue.files.wordpress.com/2021/10/taovalue_2021_q3_final.pdf">Tao Value</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/RBLX" target="_blank">RBLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/617c36009692b75c50af7c04/1635530240599/Q3+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_GlobalValueTeam_Commentary.pdf">First Eagle Global Value</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/10/VVP-Quarterly-Letter-21.09.30.pdf">Vulcan Value Partners</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/LRCX " target="_blank">LRCX </a><a href="https://roic.ai/company/UPST " target="_blank">UPST </a><a href="https://roic.ai/company/AMAT" target="_blank">AMAT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q3.pdf?sfvrsn=f7db919d_6">FPA Crescent Fund</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1635549282596">Miller Opportunity Equity</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/GM " target="_blank">GM </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/MTTR " target="_blank">MTTR </a><a href="https://roic.ai/company/WW " target="_blank">WW </a><a href="https://roic.ai/company/VRM " target="_blank">VRM </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1635549972885">Miller Income Strategy</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/VALE " target="_blank">VALE </a><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/10/2021-09-September-Investor-Update.pdf">LRT Capital</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/TSCO" target="_blank">TSCO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_3a862abe12ef49a3a6ed24ad0e544622.pdf">Luca Capital</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/10/Greystone-Capital-Q3-2021-Letter.pdf">Greystone Capital Management</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2021/10/Epoch-Quarterly-Newsletter_October-2021.pdf">Epoch Investment Partners</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/DXCM " target="_blank">DXCM </a><a href="https://roic.ai/company/SNOW " target="_blank">SNOW </a><a href="https://roic.ai/company/TWLO " target="_blank">TWLO </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/EXAS " target="_blank">EXAS </a><a href="https://roic.ai/company/ZG " target="_blank">ZG </a><a href="https://roic.ai/company/SOFI" target="_blank">SOFI</a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_3Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/617ebf28a5fcd26d065ed9a0/1635696424780/Maran+Partners+Fund+LP+2021+3Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/CLAR " target="_blank">CLAR </a><a href="https://roic.ai/company/TPB " target="_blank">TPB </a><a href="https://roic.ai/company/CRSS " target="_blank">CRSS </a><a href="https://roic.ai/company/AOUT" target="_blank">AOUT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/3Q21%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/BOIVF " target="_blank">BOIVF </a><a href="https://roic.ai/company/ORI " target="_blank">ORI </a><a href="https://roic.ai/company/IMBBY" target="_blank">IMBBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/617e856ac0c880691233af57/1635681642905/Q3%2721+letter.pdf">1 Main Capital Partners</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/LMB " target="_blank">LMB </a><a href="https://roic.ai/company/ATIP " target="_blank">ATIP </a><a href="https://roic.ai/company/GREE" target="_blank">GREE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/when-do-you-reevaluate-an-investment">Mindset Value Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q3-2021-letter">Andvari Associates</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/CHE" target="_blank">CHE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-9.30.21.pdf">Baron FinTech Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/WPLCF " target="_blank">WPLCF </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/TOST" target="_blank">TOST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.21.pdf">Baron Partners Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-3Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-3Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-3Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/STAEF " target="_blank">STAEF </a><a href="https://roic.ai/company/ST " target="_blank">ST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-3Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-3Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/10/Alluvial-Capital-Management-Q3-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/CRAWA " target="_blank">CRAWA </a><a href="https://roic.ai/company/LICT " target="_blank">LICT </a><a href="https://roic.ai/company/NUVR " target="_blank">NUVR </a><a href="https://roic.ai/company/WHLR " target="_blank">WHLR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/617c5f708ab5754dbc9ae419/1635540848533/Greenhaven+Road+%282021+Q3%29+Quarterly+Letter%5B21%5D.pdf">Greenhaven Road Capital</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/MKTW" target="_blank">MKTW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2021/11/Q32021-Investment-Commentary_Looking-inward-and-looking-westward.pdf">RGA Investment Advisors</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/KW" target="_blank">KW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2021/11/DKAM-ROE-Reporter-October-2021.pdf">Donville Kent Asset Management</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/PRL.TO " target="_blank">PRL.TO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static.seekingalpha.com/uploads/sa_presentations/847/75847/original.pdf">Tollymore Investment Partners</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/NXGPY " target="_blank">NXGPY </a><a href="https://roic.ai/company/HLFFF " target="_blank">HLFFF </a><a href="https://roic.ai/company/RDBBF" target="_blank">RDBBF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/bec99160-9175-6415-695f-c1f64e5e646e/Steel_City_Capital_3Q_21_Partner_Letter.pdf">Steel City Capital</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/SIGA" target="_blank">SIGA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_3Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="13%">11/04/2021</td><td width="39%"><a href="https://roic.ai/company/MSI " target="_blank">MSI </a><a href="https://roic.ai/company/UNH" target="_blank">UNH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/APFDX-APDDX-APHDX-QCommentary-3Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTSX-APDSX-APHSX-QCommentary-3Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/COMP " target="_blank">COMP </a><a href="https://roic.ai/company/SI " target="_blank">SI </a><a href="https://roic.ai/company/TWOU " target="_blank">TWOU </a><a href="https://roic.ai/company/BTRS " target="_blank">BTRS </a><a href="https://roic.ai/company/OLO" target="_blank">OLO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTLX-APDLX-APHLX-QCommentary-3Q21-vR.pdf">Artisan Value Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Sustainable-Q3-2021-web.pdf">Saturna Capital</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Amana-Q3-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Sextant-Q3-20210930-web.pdf">Saturna Capital - Sextant Funds</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6186d96995befe0544bc22e2/1636227434790/Q3+2021+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/PCHM " target="_blank">PCHM </a><a href="https://roic.ai/company/NNUP" target="_blank">NNUP </a><a href="https://roic.ai/company/DBMG" target="_blank">DBMG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-9.30.21.pdf">Baron Opportunity Fund</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/NRDY " target="_blank">NRDY </a><a href="https://roic.ai/company/TOST " target="_blank">TOST </a><a href="https://roic.ai/company/CDAY" target="_blank">CDAY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-9.30.21.pdf">Baron Small Cap Fund</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/MCG " target="_blank">MCG </a><a href="https://roic.ai/company/SMRT " target="_blank">SMRT </a><a href="https://roic.ai/company/HLLY" target="_blank">HLLY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-3q-2021-partner-letter-w0DTgJKY">Artko Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/HQI" target="_blank">HQI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q3.pdf">Hayden Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/COIN " target="_blank">COIN </a><a href="https://roic.ai/company/ZLPSF" target="_blank">ZLPSF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202021%20Final.pdf">Tweedy Browne</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/hrj7145nzxqor9u/2021_CTG_InvestorLetter_II.pdf?dl=0">Canterbury Tollgate</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1M9lcgQF8GuavsFmPSmyEwmuGqHQekh3t/view">Andaz Private Investments</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.riveroakcapital.se/docs/2021H1-ShareholderLetter-RiverOakCapitalAB.pdf">River Oak Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2021/11/2021Q3-Commentary.pdf">Palm Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/618c1c08863e5466ef40eb3b/1636572168864/3Q21+Final.pdf">Long Cast Advisers </a></td><td width="13%">11/22/2021</td><td width="39%"><a href="https://roic.ai/company/SANW " target="_blank">SANW </a><a href="https://roic.ai/company/PDEX " target="_blank">PDEX </a><a href="https://roic.ai/company/CTEK " target="_blank">CTEK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2021-q3.pdf?sfvrsn=8cde919d_10">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">11/22/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2021/11/2021-Q3-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/FARM " target="_blank">FARM </a><a href="https://roic.ai/company/INVE " target="_blank">INVE </a><a href="https://roic.ai/company/GMS " target="_blank">GMS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/">Ariel Trust Funds</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/BIDU " target="_blank">BIDU </a><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/GNTX" target="_blank">GNTX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.gwinvestors.com/wp-content/uploads/2021.11.23-Q3-Letter-Defense-Offense-Conviction-v4-Clean.pdf">GreenWood Investors</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-3Q21.pdf">Horos Funds</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q3%20Commentary/2021.Q3%20GR_Market_Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SaltLight_Investor_Letter_3Q21.pdf">Saltlight Capital </a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/619ea3551952ea74563e6b13/1637786454976/2021+Q3_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">12/14/2021</td><td width="39%"><a href="https://roic.ai/company/SWIR " target="_blank">SWIR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.turtlecreek.ca/wp-content/uploads/2021/11/Turtle-Creek-Quarterly-Commentary-2021-Q3.pdf">Turtle Creek</a></td><td width="13%">12/14/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<hr /><span style="font-size: large;">2nd Quarter 2021</span><br /><hr /><br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/07/STJIC-Adviser-Letter-2021-Q2-Final.pdf">St. James Investment Company </a></td><td width="15%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://east72.com.au/wp-content/uploads/2021/07/QUARTERLY-REPORT-June-2021-WEB.pdf">East72 Holdings</a></td><td width="10%">7/14/2021</td><td width="40%">$NAM.AX, $SZL.AX</td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_65_en.pdf">Vltava Fund</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/07/HCM-Q2-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="10%">7/14/2021</td><td width="40%">$ABCM</td></tr>
<tr><td width="50%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q2.pdf">Alphyn Capital Management</a></td><td width="10%">7/14/2021</td><td width="40%">$CRSS, $VMEO</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/60e104d88cf4a87ec6121191/1625359578136/Q22021.pdf">Comus Investments</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210630.pdf">FMI All Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210630.pdf">FMI International Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210630.pdf">FMI Large Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210630.pdf">FMI Small Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_a7010caa73484aa79860d446dfa072a3.pdf">Wedgewood Partners</a></td><td width="10%">7/14/2021</td><td width="40%">$CDW, $CPRT, $TSM</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">7/15/2021</td><td width="40%">$PROSY, $0200.HK</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_8c46c9c6e9d44d60a516d5174bda2794.pdf">Palm Valley Capital Fund</a></td><td width="10%">7/15/2021</td><td width="40%">$COG, $VWTR</td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/17j-cxhXk7CoZMnur9D3PlEstPJoENtoL/view">MPE Capital</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/60eef4cdf2ccfc444305a495/1626272975590/Worm+Capital+-+Q2+2021+Letter.pdf?utm_medium=email&_hsmi=140441214&_hsenc=p2ANqtz-8vBjMBZwyJR_miVrb6tu4LVmeAcMcRMU8xdNYgyNu-KeNGt9qPTyZaf3IvsTwE__LIbUSRxAbF9cgwLhcKJEe38NWRBw&utm_content=140441214&utm_source=hs_email">Worm Capital</a></td><td width="10%">7/17/2021</td><td width="40%">$ABNB, $SHOP, $TSLA</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/37ed0e4e-201e-3501-874f-69ad3236db36/June_2021_Investor_Letter_There_s_a_Playbook_for_That.pdf">Richie Capital Group</a></td><td width="10%">7/17/2021</td><td width="40%">$INS, $MKTX, $VMD, $TTD, $ADBE</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-june-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q2-letter-latent-value">Andvari Associates</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_2Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$NET, $BSY, $HUBS, $DKNG, $MGNI, $DISCK</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$PGNY, $CLB, $FSV, $EAR, $CHGG, $NEO</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$STRS, $FNMA</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2021/07/2Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_afba319ad48349ba9cf0f4bc1b4a9e21.pdf">Old West Capital Management</a></td><td width="10%">7/17/2021</td><td width="40%">$RFL, $URPTF</td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/07/Q2-2021-Letter.pdf">Distillate Capital</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.nelsoncapitalmgmt.com/wp-content/uploads/2021/07/2021-Q2-Nelson-Capital-Quarterly-Commentary.pdf">Nelson Capital</a></td><td width="10%">7/18/2021</td><td width="40%">$BKNG</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.21.pdf">Baron Health Care Fund</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.21.pdf">Baron Real Estate Fund</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$PPG, $FCFS, $DGX</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$MNR, $PDCO, $BBBY</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$DRQ, $AVNS, $FCFS</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/60ec92eef91837287388095f/1626116847850/NZS+Capital+Q2+2021+Letter.pdf">NZS Capital</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202Q2021%20Letter%20to%20Investors.pdf?__hstc=85836102.15f20432e0ea5dec955a13ff3d6a419d.1626639822446.1626639822446.1626639822446.1&__hssc=85836102.2.1626639822448&__hsfp=430853256&hsCtaTracking=58fc37ba-5f5d-410d-b210-865e3d2529e2%7C48fcdb2e-21a4-4454-83b8-dc7e654a0bcf">Massif Capital</a></td><td width="10%">7/18/2021</td><td width="40%">$ADMLF, $EQX, $AOIFF, $EQNR</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=2249">Miller/Howard Investments</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$AFL</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$BD, $DLTR, $PCAR, $PGR</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$CNNE, $PCAR</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_06_30_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="10%">7/20/2021</td><td width="40%">$ADTN, $ATSG, $GVA, $JRVR</td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/2q2021-commentary">Whitebrook Capital</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_8d85a47df4ac4bb28f307921fcd64961.pdf">Merion Road Capital</a></td><td width="10%">7/20/2021</td><td width="40%">$FLXS</td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/07/Arisaig-Quarterly-July-2021.pdf">Arisaig Partners</a></td><td width="10%">7/20/2021</td><td width="40%">$ARCE</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2021Q2NP.pdf">Hoisington Investment Management</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://l1international.com/wp-content/uploads/2021/07/L1-International-Fund-June-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$GPK</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/60f5143e81f38b20589bb696/1626674238831/2021+Q2.pdf">Blue Tower Asset Management</a></td><td width="10%">7/20/2021</td><td width="40%">$CNR, $TCS.L</td></tr>
<tr><td width="50%"><a href="https://tidefall.substack.com/p/q2-2021-letter">Tidefall Capital Management</a></td><td width="10%">7/20/2021</td><td width="40%">$FB</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/60f7ad8a3fe7684a17b9ef61/1626844555719/Q2+2021Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="10%">7/22/2021</td><td width="40%">$CCUR $YSACU $GOED $MGAG $SODI $PCOA $ASTR $DBMG $PCHM $NNUP</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/60f6f873da228c63e37549b6/1626798195865/Kinsman+Oak+-+Q2+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/07/VVP-Quarterly-Letter-21.06.30.pdf">Vulcan Value Partners</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2021.pdf">Polen Capital - Global Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2021.pdf">Polen Capital - International Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/1766ad27-75c5-d3bf-a347-f467d6f0f302/Steel_City_Capital_2Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="10%">7/22/2021</td><td width="40%">$ATEX, $NEWSA, $LSYN, $SIGA, $TRUP</td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/second-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$NTDOY, $ILMN</td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_93a7743bb3f24198a2d79dad4efa8a48.pdf">Spree Capital</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2021/">Oakmark Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2021/">Oakmark Global Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$THC, $INCZY</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-quarter-2021/">Oakmark Global Select Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-quarter-2021/">Oakmark International Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2021/">Oakmark Select Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$ALSN</td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q2-CVALUE-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="10%">7/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/60fa220c811d9973fb0f68e0/1627005453234/Maran+Partners+Fund+LP+2021+2Q+Letter.pdf">Maran Capital Management</a></td><td width="10%">7/24/2021</td><td width="40%">$CRSS, $CTT.PT, $CLAR, $PCYO</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202106.pdf">Bronte Capital</a></td><td width="10%">7/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.21.pdf">Baron Asset Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$AVLR</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.21.pdf">Baron Growth Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$ZY</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Quarterly-Letter-6.30.21.pdf">Baron Small Cap Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$JBI, $FA</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/60fb1f431155b25f3e6e24a3/1627070275338/Laughing+Water+Capital+H1+2021.pdf">Laughing Water Capital</a></td><td width="10%">7/25/2021</td><td width="40%">$AIMFF, $TACT, $THRY</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/60fbe987b6530a7c47398e53/1627122055845/Q2%2721+letter.pdf">1 Main Capital Partners</a></td><td width="10%">7/25/2021</td><td width="40%">$MHH, $ATIP.WS, $LMB</td></tr>
<tr><td width="50%"><a href="https://www.dropbox.com/s/01e8amkocdrjjai/Voss%20Value%20Fund%20Q2%202021%20Letter.pdf?dl=0">Voss Capital</a></td><td width="10%">7/25/2021</td><td width="40%">$IMXI, $ECNCF</td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/07/Greystone-Capital-Q2-2021-Letter-1.pdf">Greystone Capital Management</a></td><td width="10%">7/25/2021</td><td width="40%">$HOME, $THBRF</td></tr>
<tr><td width="50%"><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_39ad74e8a82d44d0bdcf9529b65981f7.pdf">Emeth Value Capital</a></td><td width="10%">7/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/2Q21-Investor-Letter-.pdf">Summers Value Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTKX-APDKX-APHKX-QCommentary-2Q21-vR.pdf">Artisan International Value Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTMX-APDMX-APHMX-QCommentary-2Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$LPLA, $ENTG, $WMS, $HUBS, $GMAB</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTSX-APDSX-APHSX-QCommentary-2Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$OLO, $WK, $EB, $WMS, $VMI, $BIGC</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-6.30.21.pdf">Baron Opportunity Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$EDR, $INDI, $RNG, $TEAM, $SOFI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-6.30.21.pdf">Baron Partners Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-6.30.21.pdf">Baron FinTech Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$DLO, $MQ, $SOFI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-6.30.21.pdf">Baron Discovery Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$JBGS, $DV, $INDI, $ALKT, $PING, $ZY, $OLK, $RXRX</td></tr>
<tr><td width="50%"><a href="https://www.akrefund.com/wp-content/uploads/2021/07/Akre-Focus-Fund-Quarterly-Commentary-2021-Q2.pdf">Akre Focus Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/07/Epoch-Quarterly-Newsletter_July-2021.pdf">Epoch Investment Partners</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/07/Qlet2021-02-1.pdf">Greenlight Capital</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-2Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202106/Commentary-Small-Cap-Fund-2021-06-30.pdf?c=637629261700000000">Diamond Hill Small Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/07/Alluvial-Capital-Management-Q2-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="10%">7/28/2021</td><td width="40%">$GTX, $PIOE, $CRSS, $TPRP</td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=b8f98eac91">Argosy Investors</a></td><td width="10%">7/28/2021</td><td width="40%">$FERG, $ARLO, $VZIO</td></tr>
<tr><td width="50%"><a href="https://static.seekingalpha.com/uploads/sa_presentations/620/71620/original.pdf">JDP Capital Management</a></td><td width="10%">7/29/2021</td><td width="40%">$SPOT, $ROKU, $DRTT, $INVVY, $STNE</td></tr>
<tr><td width="50%"><a href="https://boyarvaluegroup.com/bvg-pdf/2Q_2021_BVG.pdf">Boyar Value Group</a></td><td width="10%">7/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/60f5db77fc97a93375260820/1626725239450/2Q21+Letter.pdf">Long Cast Advisers </a></td><td width="10%">7/29/2021</td><td width="40%">$QRHC</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637632664960000000">Weitz Hickory Fund</a></td><td width="10%">7/31/2021</td><td width="40%">$MKTX, $DNB</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637632664960000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637632664960000000">Weitz Partners Value Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637632664960000000">Weitz Value Fund</a></td><td width="10%">7/31/2021</td><td width="40%">$ROP</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/60edefe81f6a951228719afb/1626206185704/GCAM+Q2+2021+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">7/31/2021</td><td width="40%">$ACOPF, $ATHM, $KMX</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/610450a3423d6c305d644531/1627672739392/Q2+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/07/DKAM-ROE-Reporter-July-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">7/31/2021</td><td width="40%">$PLCKF, $NOW.V</td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf">First Eagle Global Value</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rowanstreet.com/post/rowan-street-h1-2021-letter">Rowan Street Capital</a></td><td width="10%">7/31/2021</td><td width="40%">$SPOT, $FB</td></tr>
<tr><td width="50%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q2.pdf?sfvrsn=9d9e919d_4">FPA Crescent Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_07_12.pdf">Myrmikan Research</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2021.pdf">L1 Capital Long Short Fund</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q2-Aikya-Letter.pdf">Aikya Funds</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q21.pdf">Horos Funds</a></td><td width="10%">8/10/2021</td><td width="40%">$SUHJY, $MBI</td></tr>
<tr><td width="50%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202021%20-%20Final.pdf">Tweedy Browne</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/60f5682aac77840235833ab0/1626695723048/Upslope+-+2021Q2+Letter.pdf">Upslope Capital Management</a></td><td width="10%">8/10/2021</td><td width="40%">$MKTX, $ENV</td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/july-research-letter-not-your-mothers-inflation/">Crestcat Capital</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/staying-the-course-inflation-and-value-investing/">Pzena Investment Management</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/08/06/investor-letter-2021-q2/">Tao Value</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdpointlimited.com/wp-content/uploads/2021/08/Third-Point-Q2-2021-Investor-Letter-TPIL.pdf">Third Point</a></td><td width="10%">8/10/2021</td><td width="40%">$RH, $DIS</td></tr>
<tr><td width="50%"><a href="https://www.rgaia.com/wp-content/uploads/2021/08/Q2-2021-Investment-Commentary_Final.pdf">RGA Investment Advisors</a></td><td width="10%">8/10/2021</td><td width="40%">$SFIX</td></tr>
<tr><td width="50%"><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_41dd99dced82438a8be6619d79aa814d.pdf">Luca Capital</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1628686646354">Miller Income Strategy</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1628686579058">Miller Opportunity Equity</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q2%20Commentary/2021.Q2%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/APFDX-APDDX-APHDX-QCommentary-2Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTLX-APDLX-APHLX-QCommentary-2Q21-vR.pdf">Artisan Value Fund</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2q-2021-partner-letter-XzMTMlk1">Artko Capital</a></td><td width="10%">8/23/2021</td><td width="40%">$GLBI, $CURN</td></tr>
<tr><td width="50%"><a href="https://choice-equities.com/wp-content/uploads/2021/08/2021-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="10%">8/23/2021</td><td width="40%">$INVE</td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/07/2021-06-June-Investor-Update.pdf">LRT Capital</a></td><td width="10%">8/23/2021</td><td width="40%">$DPZ, $SCL, $MAR, $NVO, $RGEN, $HXL, $WSO, $TPL, $CIGI, $TFII</td></tr>
<tr><td width="50%"><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_88277daf3c064730b1a221d3605374cd.pdf">Saga Partners</a></td><td width="10%">8/23/2021</td><td width="40%">$GDRX</td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-2Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-2Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-2Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-2Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-2Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.appleseedfund.com/wp-content/uploads/2021/08/APPLX-2021-Q3-Letter.pdf">Appleseed Fund</a></td><td width="10%">8/28/2021</td><td width="40%">$HLF, $BOWFF, $ALL, $NPSNY</td></tr>
<tr><td width="50%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/">Ariel Trust Funds</a></td><td width="10%">8/28/2021</td><td width="40%">$ADT, $BOKF, $MDP</td></tr>
<tr><td width="50%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20210630.pdf">Rondure Global</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_2Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="10%">8/28/2021</td><td width="40%">$CDW, $CPRT, $TSM</td></tr>
<tr><td width="50%"><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/semi-annual-letter-to-shareholders-2021.pdf?sfvrsn=6">Fundsmith Equity Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/60fd6459b6530a7c47483cb4/1627219033515/Greenhaven+Road+Letter+%282021+Q2%29%5B14%5D.pdf">Greenhaven Road Capital</a></td><td width="10%">8/28/2021</td><td width="40%">$MKTW</td></tr>
<tr><td width="50%"><a href="http://www.goodhavenfunds.com/media/pdfs/2021_SAR.pdf">GoodHaven Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q2.pdf">Hayden Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/46240c98-192f-54b0-e33f-04bcfae1a6d3/Arquitos_Investor_Letter_Q2_2021.pdf">Arquitos Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2021.pdf">Evermore Global Value Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1z0cVyJJhW2gOIRJjcnm97gLAHPyGB7y5/view">Andaz Private Investments</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://4bcad08e-7e47-411d-ace4-bf332d18ac81.filesusr.com/ugd/ae68ee_0b2b61051db64ebd8e6c9b6bf84f5bf5.pdf">WertArt Capital</a></td><td width="10%">8/28/2021</td><td width="40%">$SUPN, $GOE.PA, $NTDOY, $HSCNF</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/129847b2-a046-f058-3f5b-574f42e332c7/Rhizome_Partners_Q2_2021_Investor_Letter_Final_8_11_2021.pdf">Rhizome Partners</a></td><td width="10%">8/28/2021</td><td width="40%">$FRPH</td></tr>
<tr><td width="50%"><a href="https://palmcapital.co.za/wp-content/uploads/2021/08/2021Q2-Commentary.pdf">Palm Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
</tbody>
</table>
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<hr /><span style="font-size: large;">1st Quarter 2021</span><br /><hr /><br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/04/STJIC-Adviser-Letter-2021-Q1-Final.pdf">St. James Investment Company </a></td><td width="15%">4/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/04/HCM-Q1-21-Quarterly-Letter.pdf">Headwaters Capital</a></td><td width="10%">4/05/2021</td><td width="40%">$AFG, $TREE</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/60661aecfb181a159d5db5c6/1617304300584/Q12021.pdf">Comus Investments</a></td><td width="10%">4/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/606b99c2db9f0919a2294aa6/1617664479120/Del+Principe+O%27Brien+March+2021+Letter+.pdf">Del Principe O’Brien Financial Advisors</a></td><td width="10%">4/05/2021</td><td width="40%">$AVGO, $DISCA, $BIIB</td></tr>
<tr><td width="50%"><a href="http://east72.com.au/wp-content/uploads/2021/04/QUARTERLY-REPORT-Public-March-2021.pdf">East72 Holdings</a></td><td width="10%">4/06/2021</td><td width="40%">$VHI, $HALFF</td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_64_en.pdf">Vltava Fund</a></td><td width="10%">4/07/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$PHYS, $CRI, $WHGLY, $DOX</td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_349e86f42c3f42c78ed7759e48940932.pdf">Merion Road Capital</a></td><td width="10%">4/08/2021</td><td width="40%">$FNF, $RCKY</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2021/">Oakmark Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$MO, $COP</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2021/">Oakmark Select Fund</a></td><td width="10%">4/08/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2021/">Oakmark Global Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$CGEMY, $FISV, $GD, $HUM, $SAP</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-quarter-2021/">Oakmark Global Select Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$DDAIF, $CS</td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Worm%20Capital%20-%20Q1%202021%20Letter.pdf?utm_medium=email&_hsmi=120528142&_hsenc=p2ANqtz-88OPptDlNk0V_RKer-I8HnGkft2e5Y_-jllYmTk9S3aCp_JUT34K1fdxVHIJ8TE3KQBnHX6Ndz6Zovncgns-qhi6iROQ&utm_content=120528142&utm_source=hs_email">Worm Capital</a></td><td width="10%">4/09/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://p.weebly.com/14123551/80d38a39e3/ACML_2021_Q1.pdf">Alphyn Capital Management</a></td><td width="10%">4/11/2021</td><td width="40%">$CFX</td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=a1db0cdb72">Argosy Investors</a></td><td width="10%">4/12/2021</td><td width="40%">$KAR, $GO, $CNSWF, $RRTS, $DFH, $RGLD</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/c6900e62-2470-4112-ad70-66c7876601e0/March_2021_Investor_Letter_Institutional_Imperative_vFinal.pdf">Richie Capital Group</a></td><td width="10%">4/12/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_de9b06acfa2e43c1b2cccbeecbca5f38.pdf">Wedgewood Partners</a></td><td width="10%">4/14/2021</td><td width="40%">$BKNG, $EW, $ODFL, $SBUX</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">4/14/2021</td><td width="40%">$MSTR, $DKNG, $MGNI, $EH, $CHPT, $PLAN</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">4/14/2021</td><td width="40%">$SHAK, $CTRX, $TECH, $BLI, $BIGC, $AVLR</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210331.pdf">FMI All Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210331.pdf">FMI International Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210331.pdf">FMI Large Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210331.pdf">FMI Small Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">4/15/2021</td><td width="40%">$UNH, $BKNG, $SCHW, $SQ, ZG, $SNOW, $FTCH</td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$UNH, $BKNG, $SCHW, $SQ, ZG, $SNOW, $FTCH</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202103.pdf">Bronte Capital</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/607848df2b3546320bb614e8/1618495713359/Upslope+-+2021Q1+Letter.pdf">Upslope Capital Management</a></td><td width="10%">4/15/2021</td><td width="40%">$FCV, $TMXXF, $CBOE</td></tr>
<tr><td width="50%"><a href="https://www.nzscapital.com/quarterly-letters/q1-2021-letter">NZS Capital</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$LUMN, $AMG, $CNX, $GE, $MGM, $FRFHF, $CNHI</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$LUMN,$CNX, $ESRT, $RLGY, $MAT</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">4/15/2021</td><td width="40%">$TOITF, $ATVI</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">4/15/2021</td><td width="40%">$TOITF, $ATVI</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2021Q1NP.pdf">Hoisington Investment Management</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$FISV</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q1-letter-fewer-but-better">Andvari Associates</a></td><td width="10%">4/15/2021</td><td width="40%">$CSGP</td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_e111d7b217d84fc6a3d141bc4da4e2c2.pdf">Old West Capital Management</a></td><td width="10%">4/16/2021</td><td width="40%">$RFL</td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/1Q21-Investor-Letter.pdf">Summers Value Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$ELMD</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.21.pdf">Baron Asset Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$TRIP, $EPAM</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.21.pdf">Baron Discovery Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$TRIP, $VSPR, $MRCY, $DSP, $SAIL</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.21.pdf">Baron Health Care Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$ICLR, $TECH</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-3.31.21_0.pdf">Baron Opportunity Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/first-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$$FAST, $HD</td></tr>
<tr><td width="50%"><a href="https://info.massifcap.com/cs/c/?cta_guid=1c92330b-c129-4677-99c2-1e472dbf2bf3&signature=AAH58kGMg6AB-2tlmoiqkWnIMLMFRr9cxQ&pageId=44998595421&placement_guid=7176c8ab-1803-4f2a-982d-00261ee33e87&click=6453a38f-d437-4d45-9ed8-0f022fea3c0a&hsutk=c7a00000129d1ab31df10178dc3acf03&canon=https%3A%2F%2Finfo.massifcap.com%2Ffirst-quarter-2021-letter-to-investors-full&utm_referrer=https%3A%2F%2Fwww.reddit.com%2F&portal_id=4518141&redirect_url=APefjpEOhoAzbqmMIGOodmqp0YJMarGkKPCQ1nX11xmBRxJ3L4UbCp_iosSORBALh1LqwIe1d_UqRT13T7zUISDnL-XXSv7NhAmiwt7Dncx1kydBMgDScbvQqAFVXlU4Qnf2IA_vtv_KNfm2dnj5hsQkQS2Z5eeIE8Agbwyqo5u5eJEwmADP9bR9-Y5VMS0hdwmUfjzSDDyXqFpOc4YMjE9gg5FAMt3Q29eD5dCCdKc00dq0Mko-5sE915i8kn9_2z5U3P3EaJ-kN97S0lErcVWVMvpQyLPkMA">Massif Capital</a></td><td width="10%">4/16/2021</td><td width="40%">$LAC, $IVN, $TRQ</td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/04/Qlet2021-01-2.pdf">Greenlight Capital</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_1f4310f663684c688a501f1d425e1cb5.pdf">Spree Capital</a></td><td width="10%">4/16/2021</td><td width="40%">$ICE</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=3059">Miller/Howard Investments</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2021/04/shareholder-letter-smead-value-fund1.pdf">Smead Value Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_03_31_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="10%">4/17/2021</td><td width="40%">$UPLD, $ORBC, $JIH</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTMX-APDMX-APHMX-QCommentary-1Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/1q2021-commentary">Whitebrook Capital</a></td><td width="10%">4/17/2021</td><td width="40%">$DISCA, $CNDT</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6073fa24de1505281daa7d78/1618213412780/2021+Q1.pdf">Blue Tower Asset Management</a></td><td width="10%">4/17/2021</td><td width="40%">$CGEO.L</td></tr>
<tr><td width="50%"><a href="https://l1international.com/wp-content/uploads/2021/04/L1_International_Fund_March_2021_Quarterly.pdf">L1 International Capital Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-1Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-1Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-1Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="10%">4/17/2021</td><td width="40%">$HNHPF, $WEGZY, $6415.TW</td></tr>
<tr><td width="50%"><a href="https://www.nelsoncapitalmgmt.com/wp-content/uploads/2021/04/2021Q1.pdf">Nelson Capital</a></td><td width="10%">4/17/2021</td><td width="40%">$DNMR</td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/04/Q1-2021-Letter.pdf">Distillate Capital</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.akrefund.com/wp-content/uploads/2021/04/Akre-Focus-Fund-Quarterly-Commentary-2021-Q1.pdf">Akre Focus Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="10%">4/18/2021</td><td width="40%">$VREOF, $SKY, $MX, $NLS, $ASPU, $STRL, $ROAD</td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/04/Arisaig-Quarterly-April-2021.pdf">Arisaig Partners</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$LEN, $BAM, $CBRE, $JBGS, $PLD</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$BSIG</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr><tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.21.pdf">Baron Growth Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$ACVA</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.21.pdf">Baron Partners Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.21_0.pdf">Baron Real Estate Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc936d6a4-4d95-4062-a6d3-1be113b71c41_1770x2502.png">Tidefall Capital Management</a></td><td width="10%">4/22/2021</td><td width="40%">$BRK.B</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/607dbeff4b7b445d523e1dda/1618853631624/GCAM+Q1+2021+client+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">4/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$UHAL, $RGA, $PSB</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$CCBG, $NFG, $CGAU</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$PAHC, $MEI</td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/04/Greystone-Capital-Q1-2021-Letter.pdf">Greystone Capital Management</a></td><td width="10%">4/25/2021</td><td width="40%">$PW, $SHSP, $HIL, $THRY, $RMNI, $LSYN, $PLBY</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/608403732cc7860039191c41/1619264371755/Q1%2721+letter.pdf">1 Main Capital Partners</a></td><td width="10%">4/25/2021</td><td width="40%">$GOOG, $KKR, $LMB, $PSH, $RICK, $LGIH, $W, $WINE.LN</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="10%">4/25/2021</td><td width="40%">$AMZN, $NFLX, $CRM</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2021.pdf">Polen Capital - Global Growth</a></td><td width="10%">4/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2021.pdf">Polen Capital - International Growth</a></td><td width="10%">4/25/2021</td><td width="40%">$TCRHY, $AON, $SGPYY, $EDU, $ADDYY, $CSLLY, $EVVTY</td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q1-2021-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="10%">4/25/2021</td><td width="40%">$TPL</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/608306de4e49f0272799af39/1619199711634/Kinsman+Oak+-+Q1+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="10%">4/25/2021</td><td width="40%">$BWXT</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-3.31.21.pdf">Baron FinTech Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.21.pdf">Baron Small Cap Fund</a></td><td width="10%">4/27/2021</td><td width="40%">$DRVN, $ETWO, $SHLS</td></tr>
<tr><td width="50%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q21.pdf">Horos Funds</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/60837419998e6d1327cad2f2/1619227673384/Laughing+Water+Capital+Q1+2021.pdf">Laughing Water Capital</a></td><td width="10%">4/27/2021</td><td width="40%">$RMNI, $ITI</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTKX-APDKX-APHKX-QCommentary-1Q21-vR.pdf">Artisan International Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTSX-APDSX-APHSX-QCommentary-1Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary_0.PDF">First Eagle Global Value</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/04/VVP-Quarterly-Letter-21.03.31.pdf">Vulcan Value Partners</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637551430890000000">Weitz Hickory Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637551430890000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637551430890000000">Weitz Partners Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637551430890000000">Weitz Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2021.pdf">L1 Capital Long Short Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aikya.co.uk/wp-content/uploads/2021/04/2021-Q1-Aikya-letter.pdf">Aikya Funds</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/04/Alluvial-Capital-Management-Q1-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="10%">4/28/2021</td><td width="40%">$PIOE, $CRAWA, $LGNC, $WHLR, $MMAC</td></tr>
<tr><td width="50%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202103/Commentary-Small-Cap-Fund-2021-03-31.pdf?c=637552293870000000">Diamond Hill Small Cap Fund</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rgaia.com/wp-content/uploads/2021/04/Q1-2021-Investment-Commentary-FINAL.pdf">RGA Investment Advisors</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q1.pdf?sfvrsn=8">FPA Crescent Fund</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/608c14f248d0480bd46a9f0f/1619793138598/Maran+Partners+Fund+LP+2021+1Q+Letter.pdf">Maran Capital Management</a></td><td width="10%">5/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/608f30c68a421213d86a1fca/1619996870844/Q1+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">5/02/2021</td><td width="40%">$VQSLF</td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/04/Epoch-Quarterly-Newsletter_April-2021.pdf">Epoch Investment Partners</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/04/DKAM-ROE-Reporter-April-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-1Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/04/28/investor-letter-2021-q1/">Tao Value</a></td><td width="10%">5/03/2021</td><td width="40%">$TAL, $FUTU</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6090ae79e8c9d0715bdbb1d2/1620094586126/Q1+2021Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="10%">5/04/2021</td><td width="40%">$SODI $PCOA $DBMG $PCHM $PDRX $RILY $SBNC</td></tr>
<tr><td width="50%"><a href="https://www.palmharbourcapital.com/files/PHC_Q1_2021_Letter.pdf">Palm Harbour Capital</a></td><td width="10%">5/06/2021</td><td width="40%">$SEOAY, $</td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/156KaPykj421-qrzeb22yP2Yr55kdmGc2/view">Andaz Private Investments</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202021%20-%20Final.pdf">Tweedy Browne</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://bluehawkinvestors.com/wp-content/uploads/2021/05/Q1-2021-Investor-Letter.pdf">Blue Hawk Investment Group </a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1620323022969">Miller Income Strategy</a></td><td width="10%">5/06/2021</td><td width="40%">$PBI, $CHS, $VTRS, $GEO</td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1620314382817">Miller Opportunity Equity</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-1Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-1Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdpointlimited.com/wp-content/uploads/2021/05/Third-Point-Q1-2021-Investor-Letter-TPIL.pdf">Third Point</a></td><td width="10%">5/07/2021</td><td width="40%">$UPST, $GRAB, $CSGP</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/7840b0a9-c29d-4f13-a92e-3ab748b62a11/Steel_City_Capital_1Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="10%">5/10/2021</td><td width="40%">$NWSA, $SIGA, $ATEX, $LSYN, $TRUP, $WDFC</td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2021.Q1%20Commentary/2021.Q1%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/crescat-april-investor-letter/">Crestcat Capital</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_05_13.pdf">Myrmikan Research</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/early-days-in-the-value-recovery-commentary/">Pzena Investment Management</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abd98abb-2e75-dd3f-742d-521ce1e13373/050521_Bonhoeffer_Partner_Letter_Q1_2021.pdf">Bonhoeffer Capital Management</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.appleseedfund.com/wp-content/uploads/2021/05/APPLX-Q1-2021-Semi-Annual-Letter.pdf">Appleseed Fund</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Sustainable-Q1-2021-web.pdf">Saturna Capital</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Amana-Q1-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Sextant-Q1-2021-web.pdf">Saturna Capital - Sextant Funds</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://choice-equities.com/wp-content/uploads/2021/05/2021-Q1-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="10%">5/13/2021</td><td width="40%">$BNED, $FARM</td></tr>
<tr><td width="50%"><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2021-partner-letter-oNRTNaLn">Artko Capital</a></td><td width="10%">5/23/2021</td><td width="40%">$HQI</td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/04/2021-03-March-Performance-Update-Public.pdf">LRT Capital</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/">Ariel Trust Funds</a></td><td width="10%">5/23/2021</td><td width="40%">$AXTA, $SNA, $SRCL</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/APFDX-APDDX-APHDX-QCommentary-1Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTLX-APDLX-APHLX-QCommentary-1Q21-vR.pdf">Artisan Value Fund</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/60a80d2db82d4c0854264a21/1621626158448/Bonsai+Partners+Q1+2021+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td width="10%">5/23/2021</td><td width="40%">$RDBBF, $MU, TSYHY, $PHPYF, $LKQ, $TSM, $ILMN</td></tr>
</tbody>
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<hr /><span style="font-size: large;">4th Quarter 2020</span><br /><hr /><br />
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</thead>
<tbody>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="15%">1/14/2021</td><td width="40%">$NET, $ROKU, $FTCH, $QDEL, $STMP, $ZM</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">1/14/2021</td><td width="40%">$CDNA, $NTRA, $CMD, $STMP, $TNDM, $QDEL</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://p.weebly.com/14123551/0fd3577090/ACML_2020_Q4.pdf">Alphyn Capital Management</a></td><td width="10%">1/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/6010d367849bae794accb740/1611715431638/Q4+2020+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1WotHxQKWf4FdXA4Fz-1oWl9MVCMet2XA/view">Andaz Private Investments</a></td><td width="10%">1/04/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q4-letter-the-leap-of-faith">Andvari Associates</a></td><td width="10%">1/07/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=e596a3f39f">Argosy Investors</a></td><td width="10%">1/12/2021</td><td width="40%">$PINS, $JD, $RP, $SPB, $FTV, $WFC</td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/01/Arisaig-Quarterly-January-2021.pdf">Arisaig Partners</a></td><td width="10%">1/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/APFDX-APDDX-APHDX-QCommentary-4Q20-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTIX-APDIX-APHIX-QCommentary-4Q20-vR.pdf">Artisan International Value Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTMX-APDMX-APHMX-QCommentary-4Q20-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTSX-APDSX-APHSX-QCommentary-4Q20-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$SMMC ($BTRS), $DNLI, $ZNGA, $FROG.</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTLX-APDLX-APHLX-QCommentary-4Q20-vR.pdf">Artisan Value Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://docsend.com/view/ffasrkj3xbcp73rp">Avory & Company</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-12.31.20.pdf">Baron Asset Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$SFIX, $FTCH.</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-12.31.20.pdf">Baron Discovery Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$CDNA, $TPIC, $ALGM, $ESPR, $EBS, $SILK, $FQVTF, $MDEVF, $RRR, $EAR.</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-12.31.20.pdf">Baron FinTech Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$SHOP, $MELI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-12.31.20.pdf">Baron Growth Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$DM</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-12.31.20.pdf">Baron Health Care Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-12.31.20.pdf">Baron Opportunity Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$OPEN, $SFIX, $FTCH</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-12.31.20.pdf">Baron Partners Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-12.31.20_0.pdf">Baron Real Estate Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_12_31_bca_scv_marketcomm_final.pdf">Bernzott Capital Advisors</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/600e93bc3e161e647bf37eb8/1611568060751/2020+Q4.pdf">Blue Tower Asset Management</a></td><td width="10%">1/27/2021</td><td width="40%">$EZPW</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202012.pdf">Bronte Capital</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5fef8b00dac66e1e16b7d4d0/1609534209232/Q42020.pdf">Comus Investments</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://concentratedcompounding.com/2020-annual-letter/">Concentrated Compounding*</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2020/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">1/20/2021</td><td width="40%">$TKAYY, $WMG, $WDAY, $OCPNY.</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2020/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/01/Q4-2020-Letter.pdf">Distillate Capital</a></td><td width="10%">1/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/01/DKAM-ROE-Reporter-January-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/dd77d6a119e511a93e9308144/files/d2f72ae0-8aec-47c9-9e3a-66ec7ebe0d92/Edgebrook_Annual_Letter_2020.01.pdf">Edgebrook Partners</a></td><td width="10%">1/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/01/Epoch-Quarterly-Newsletter_January-2021.pdf">Epoch Investment Partners</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/FE_GV_Annual_Letter_F-CM-GVT-ANNLTR-P-US.pdf">First Eagle Global Value</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20201231.pdf">FMI All Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20201231.pdf">FMI International Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20201231.pdf">FMI Large Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20201231.pdf">FMI Small Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://foragerfunds.com/wp-content/uploads/2021/01/FORAGER-QR_DEC20.pdf">Forager Funds</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2020.pdf?sfvrsn=4">Fundsmith Equity Fund</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/6008b2665bd7e21cbb2aefd0/1611182698327/GCAM+FY+2020+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.goodhavenfunds.com/media/pdfs/2020_AR.pdf">GoodHaven Fund</a></td><td width="10%">1/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/01/Qlet2020-041.pdf">Greenlight Capital</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/01/Greystone-Capital-Q4-2020-Letter.pdf">Greystone Capital Management</a></td><td width="10%">1/16/2021</td><td width="40%">$CHRM, $TRRVF, $LSYN, $USAT, $FREE</td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/01/Q4-20-HCM-Investment-Letter-FINAL.pdf">Headwaters Capital</a></td><td width="10%">1/10/2021</td><td width="40%">$ENTG, $FICO, $INSP</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$FCX, $RJF, $BG, $AAP</td></tr>
<tr><td width="50%"><a href="">Heartland Select Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$THO, $NVT, $CAGDF</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$PAHC, $RILY.</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2020Q4NP.pdf">Hoisington Investment Management</a></td><td width="10%">1/19/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2020.pdf">L1 Capital Long Short Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/600d8da0643aa1698781e02a/1611500960816/Laughing+Water+Capital+YE+2020.pdf">Laughing Water Capital</a></td><td width="10%">1/24/2021</td><td width="40%">$AIMFF, $CDMO, $PAR, $USAT</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/01/2020-12-December-Performance-Update.pdf?utm_source=LRT+Capital+Management&utm_campaign=7b597b9b26-EMAIL_CAMPAIGN_4_27_2019_9_58_COPY_01&utm_medium=email&utm_term=0_8ad2dd2e5c-7b597b9b26-328907381">LRT Capital</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/6009bb1b2d18d542ead573a2/1611250465556/2020.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_c4c58da3cf8940a2a507e31c7543f084.pdf">Merion Road Capital</a></td><td width="10%">1/12/2021</td><td width="40%">$PINS, $FCPT, $FERGY, $MHH, $RMCF, $LNSR</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=3050">Miller/Howard Investments</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1igQ64JuZiJ7IEQllP0u3RyQBJ3_uPJTg/view">MPE Capital</a></td><td width="10%">1/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_01_13.pdf">Myrmikan Research</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.nzscapital.com/news/nzs-capital-q4-2020-update">NZS Capital</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2020/">Oakmark Fund</a></td><td width="10%">1/11/2021</td><td width="40%">$FISV, $KKR</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2020/">Oakmark Select Fund</a></td><td width="10%">1/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2020/">Oakmark Global Fund</a></td><td width="10%">1/11/2021</td><td width="40%">$NVS, $KDP, $LYV, $PINS</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2020/">Oakmark Global Select Fund</a></td><td width="10%">1/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d433d06abf354a039039af0d4933c5f8.pdf">Old West Capital Management</a></td><td width="10%">1/11/2021</td><td width="40%">$WLDBF.</td></tr>
<tr><td width="50%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_84c55e774aac418fa065fb61206be3c1.pdf">Palm Valley Capital Fund</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2020.pdf">Polen Capital - Focus Growth</a></td><td width="10%">1/22/2021</td><td width="40%">$ILMN, $CRM.</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2020.pdf">Polen Capital - Global Growth</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2020.pdf">Polen Capital - International Growth</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/momentum-is-with-value/">Pzena Investment Management</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/e5a21f93-8c76-431c-8ddd-63c0efe24514/December_2020_Investor_Letter_Blind_Spots_vFinal.pdf">Richie Capital Group</a></td><td width="10%">1/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q20_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">1/14/2021</td><td width="40%">$SNAP, $PINS, $BX, $UBER, $EXAS, $LMT, $DXCM.</td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_4Q20_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rvcapital.ch/post/rv-capital-s-2020-letter-to-co-investors-in-the-business-owner-fund?utm_campaign=35210720-6fbf-42de-a744-9fd46d8f3f4e&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="10%">1/15/2021</td><td width="40%">$WORK</td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_dbd7c0662df04a51889bfc17d810d421.pdf">Spree Capital</a></td><td width="10%">1/18/2021</td><td width="40%">$CDLX, $UPWK.</td></tr>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/01/STJ-Adviser-Letter-2020-Q4.pdf">St. James Investment Company </a></td><td width="10%">1/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/51948ad1-0c35-4453-9e43-36915ae8cfec/Steel_City_Capital_4Q_20_Partner_Letter.pdf">Steel City Capital</a></td><td width="10%">1/25/2021</td><td width="40%">$LSYN, $ATEX, $EBAY, $TRUP, $WDFC</td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/2020-Annual-Investor-Letter-.pdf">Summers Value Fund</a></td><td width="10%">1/21/2021</td><td width="40%">$BASI, $ELMD, $MODV</td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/01/20/investor-letter-2020-q4/">Tao Value</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%">$FNMA, $AMH</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%">$LAZ, $SVNDY.</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/600031ce75feee1e320a0c37/1610625487864/Upslope+-+2020Q4+Letter.pdf">Upslope Capital Management</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_63_en.pdf">Vltava Fund</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/01/VVP-Annual-Letter-20.12.31.pdf">Vulcan Value Partners</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_e0367d900f594418b9f80f5332a78da3.pdf">Wedgewood Partners</a></td><td width="10%">1/13/2021</td><td width="40%">$PGR, $SPGI, $TSCI</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637472989640000000">Weitz Hickory Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637472989640000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637472989640000000">Weitz Partners Value Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637472989640000000">Weitz Value Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/4q2020-commentary">Whitebrook Capital</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q4-2020-Review_Final_Approved.pdf">Horizon Kinetics</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-4Q20-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-4Q20-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hardingloevner.com/strategies/international-small-companies-equity/">Harding Loevner International Small Companies Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hardingloevner.com/strategies/global-small-companies-equity/">Harding Loevner Global Small Companies</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q4-2020/">Crestcat Capital</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2020.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2020.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/fourth-quarter-2020-investment-update/?__hstc=3281263.805dd8f22d7941cbc2e047cb71a92ba5.1612067828585.1612067828585.1612067828585.1&__hssc=3281263.13.1612067818999&__hsfp=3642198382">Ensemble Fund</a></td><td width="10%">1/30/2021</td><td width="40%">$RACE, $NVR</td></tr>
</tbody>
</table>
<br /></div><div><br /></div><div><br /></div><div><br /></div><div><span style="font-size: x-large;">3rd Quarter 2020</span></div><div><span style="font-size: x-large;"><br /></span></div><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f91d68ffcf5365a608ae79b/1603393167269/Q3%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($LMB)</li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($PENN, $ZM, $DKNG, $VAPO, $MIDD, $VERX)</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($NTRA, $CYRX, $VEEV, $AYX, $EHTH, $PRO).</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://p.weebly.com/14123551/0e14046f58/acml_2020_q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f9c71c178bf29569ce3e73c/1604088257626/Q3+2020+Alta+Fox+Capital+Quarterly+Letter+-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT)</li><li><a href="https://drive.google.com/file/d/16Z5Ah7ylRfTNtv7_89hvySNkLBs94ymo/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://andvariassociates.com/q3-letter-repeatable-process-and-concentration" target="_blank">Andvari Associates</a> -($GLIBA, $LBRDA, $CSGP, $TYL)</li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/08/APPLX-Q2-2020-Letter-.pdf" target="_blank">Appleseed Fund</a></li><li><a href="https://mailchi.mp/d5669ebd0777/argosy-investors-3q20-letter-5089533" target="_blank">Argosy Investors</a> - ($TIG, $TAP, $XPO, $HEI, $CIGI).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BAP, $FLIR, $NOV, $MTN).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abb0e242-eb67-40d1-883b-ecdfa6b22d71/Arquitos_Investor_Letter_Q3_2020.pdf" target="_blank">Arquitos Capital</a></li><li><a href="https://arisaig.com/wp-content/uploads/2020/10/Arisaig-Quarterly-October-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/3q/APFDX-APDDX-APHDX-QCommentary-3Q20-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTKX-APDKX-MCommentary-0920-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTMX-APDMX-MCommentary-0920-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTSX-APDSX-MCommentary-0920-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTLX-APDLX-MCommentary-0920-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-3q-2020-partner-letter-XOMTVzxR" target="_blank">Artko Capital</a> - ($NTIC, $PBPB, $FTK)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-9.30.20.pdf" target="_blank">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-9.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($PRPL, $VITL, $PACB, $BLI, $AFIB, $MEG, $AEIS).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron FinTech Fund</a> - ($SQ, $NVEI.TO).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-9.30.20.pdf" target="_blank">Baron Growth Fund</a> - ($AMWL).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-9.30.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-9.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-9.30.20_1.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_9_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($SSTK, INOV, $WSC, $EPAY, $SP, $CSOD)</li><li><a href="https://s3.amazonaws.com/bireme/3Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AAADKn6HMQN3RcB_NnJSPUsRa/Black%20Bear%20Value%20Partners%20Q3%202020.pdf?dl=0" target="_blank">Black Bear Value Partners</a> - ($AWI, $AN, $BRK.B, $PSX, $TPL)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f84061d553af93162d867d1/1602487838468/2020+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($BERY)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f90958a0514cc4e0f71e119/1603310986504/Bonsai+Partners+Q3+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($RDBBF, $PHPYF, $MU, $GNSS, $TSM).</li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202009.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf3q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a> - ($CRL, $BFAM, $JKHY, $RP)</li><li><a href="https://browncapital.com/system/files/scf3q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($IRTC, $VEEV, $AYX, $PRO)</li><li><a href="https://browncapital.com/system/files/ief3q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf3q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://drive.google.com/file/d/1a76lPrhT-7Z1kFGOwh1f_w90IPJiAnNE/view" target="_blank">Cartenna Capital</a> - ($FDX, $LAD, $LEA)</li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f85eb7289085d67fca99c88/1602612084148/Q3+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:7abf9ad9-f7fe-4977-813d-f110bc6cd463#pageNum=1" target="_blank">Choice Equities Fund</a> - ($APPS, $PINS, $MGNI, $SIC).</li><li><a href="https://cedcapital.in/wp-content/uploads/2020/10/Quarterly-PMS-Letter-Sep20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5f761584c70e806b3d25af69/1601574277212/Q32020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Hedged)</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Unhedged)</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q3-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5f8770933c746c06627c78af/1602711699235/Q3+2020+Letter.pdf" target="_blank">Curreen Capital</a> - ($CNDT).</li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5fb1cf491cc5cc6622c8d927/1605488457151/Del+Principe+O%27Brien+October+2020+Letter+pdf.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a> - ($BRK.B, $ROP, $DHR, $MC, $ICE)</li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/2eca2e7c-b182-4c14-8b24-b57b0eb9b1e1/2020_Q3_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/10/Q3-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://dmzpartners.in/Documents/Files/DMZ-2103-2Q20-21-Redacted.pdf" target="_blank">DMZ Partners</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/10/DKAM-ROE-Reporter-October-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2020/" target="_blank">Ensemble Fund</a> - ($CMG, $ISRG. $NVR, $BR, $FRC, $NVR).</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/10/16105449/Client-Letter-Q3-2020-FINAL.pdf" target="_blank">Ewing Morris</a> - ($KAI)</li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200930.pdf" target="_blank">FMI All Cap Equity</a> - ($CMCSA, $DLTR).</li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200930.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200930.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200930.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-q3.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NCR, $AGCO, $CNOM, $CNC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q3-final-w-disclosures-and-holdings.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q3%20Commentary/2020.Q3%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f9c6af71e0c5e77d38dbda4/1604086519425/Greenhaven+Road+Letter+%282020+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $KKR, $APPS, $ESTC, $ROKU, $AEYE, $APG, $NLS, $BNED)</li><li><a href="https://www.valuewalk.com/wp-content/uploads/2020/10/Qlet2020-03-1.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.11.01-Q3-Letter-v2.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/11/Greystone-Capital-Q3-2020-Letter.pdf" target="_blank">Greystone Capital Management</a> - ($RICK, $RMNI, $CRAWA, $RSSS, $PW)</li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-3Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-3Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-3Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-3Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q3.pdf" target="_blank">Hayden Capital</a> - ($AFTPF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($HLT, $SPB, $FE, $MHK)</li><li><a href="https://www.heartlandadvisors.com/Products/Strategies/Heartland-Opportunistic-Value-Equity-Strategy/Heartland-Opportunistic-Value-Equity-Strategy-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Opportunistic Value Fund</a> - ($HLT, $CSCO, $BRK.B)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TSC, $OESX ,$PLAB)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SPB, $FCFS, $RL)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q3NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($TPL)</li><li><a href="https://l1international.com/wp-content/uploads/2020/10/09_2020_International_Fund_Quarterly_Report.pdf" target="_blank">L1 International Capital Fund</a></li><li><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2020.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f8c75b4bdc0fc164f836caf/1603040693094/Laughing+Water+Capital+Q3%2720.pdf" target="_blank">Laughing Water Capital</a> - ($USAT, $FREE)</li><li><a href="https://southeasternasset.com/commentary/3q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/10/2020-09-September-Performance-Update-Public.pdf" target="_blank">LRT Capital</a></li><li><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_1bf005a3950242f48eeff54c938130ed.pdf" target="_blank">Luca Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($HON)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0" target="_blank">Madison Investors Fund</a> - ($FB)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0" target="_blank">Madison Mid Cap Fund</a> - ($ANET)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5fa85397ef83d42c47c6bbad/1604866968719/Maran+Partners+Fund+LP+2020+3Q+Letter.pdf" target="_blank">Maran Capital Management</a> - ($FREE, $PCYO, $CLAR)</li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5f91f70b872be4229ca34d82/1603401483222/2020.Q3+Massif+Investor+Client+Letter.pdf" target="_blank">Massif Capital</a></li><li><a href="https://www.mawer.com/learn/mawer-quarterly/third-quarter-2020/" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://www.mclaincap.com/letters" target="_blank">McLain Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_ff943467174a4a2fbef2fb129e71359a.pdf" target="_blank">Merion Road Capital</a> - ($FERGY, $TUESQ)</li><li><a href="https://www.mhinvest.com/download.html?docId=3036" target="_blank">Miller/Howard Investments</a></li><li><a href="https://millervalue.com/deep-value-strategy-3q20-letter/" target="_blank">Miller Value - Deep Value Strategies</a> - ($NBR, $BBBY, $GME, $SIG, $PBI, $ATCO)</li><li><a href="https://millervalue.com/opportunity-equity-3q20-letter/" target="_blank">Miller Value - Opportunity Equity</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a></li><li><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2020_10_13.pdf" target="_blank">Myrmikan Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/10/2020Q3.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($QDEL).</li><li><a href="https://drive.google.com/file/d/1wavRmQCrmYZ0Xr91X-0o7wfgS-oaE48W/view" target="_blank">Nomadic Value</a> - ($UNH, $OHS, $IPOC).</li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2020/" target="_blank">Oakmark Fund</a> - ($CBRE, $KDP)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_16ebf57ec73a4bd8957c37c5ed02890b.pdf" target="_blank">Old West Investment Management</a> - ($LEU)</li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_ebd5d2ddc5a04d9b8a657a03a5115b1f.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($UNH, $ISRG, $CRM, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.rgaia.com/wp-content/uploads/2020/11/Q3-2020-Investment-Commentary-Ignition.pdf" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/0c3c2277-336b-4b40-957b-97b4df6c3b1b/Rhizome_Partners_Q3_2020_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q20.pdf" target="_blank">RiverPark Large Growth</a> - ($PINS, $AAPL, $AMZN, $EXAS, $ISRG, $ILMN, $AMT, $ADSK)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_3Q20.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/11/2020-Q3-Newsletter.pdf" target="_blank">Rowan Street Capital</a> - ($BABA)</li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sustainable-Q3-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Amana-Q3-2020-web.pdf" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sextant-Q3-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://drive.google.com/file/d/1A0s8GKvMy-_xUHbzxDSaN0AEjmwSg_f6/view" target="_blank">Selcouth Capital Management</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=459a37f7-5751-4cfe-9518-f3a1538c959e&Name=Q3_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/ba603bd1-d159-48eb-8ad5-d291db00375b/SilverRingValuePartners_2020Q3_Letter.pdf" target="_blank">Silver Ring Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_706aab945eef4b7088fcb7ee7409a296.pdf" target="_blank">Spree Capital</a> - ($IAC, $ANGI, $PINS)</li><li><a href="https://stjic.com/wp-content/uploads/2020/09/STJIC-Adviser-Letter-2020-Q3.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/13ac1227-dad0-4f2e-9abf-49860419ff60/Steel_City_Capital_3Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a> - ($LSYN, $ATEX. $SATS, $EBAY, $TCP, $TRUP, $HBI, $OLLI)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $ELMD, $PRSC, $ASRT)</li><li><a href="https://taovalue.files.wordpress.com/2020/10/taovalue_2020_q3_final.pdf" target="_blank">Tao Value</a> - ($BEKE, $WORK, $API)</li><li><a href="https://drive.google.com/file/d/1Utxz55Fm5B66CLNOoTYUOktAfFEX5jgq/view" target="_blank">Tidefall Capital Management</a> - ($FB, $NFLX, $MTCH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAREX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FNMA, $CBRE, $AMH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TASCX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($HBB)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAVFX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://thirdpointlimited.com/wp-content/uploads/2020/10/Third-Point-Q3-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AABLnwQSozTE3JKv2sad6Z9fa?dl=0&preview=Tollymore+Q3+2020.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRUP, $FTCH).</li><li><a href="https://www.turtlecreek.ca/wp-content/uploads/2020/10/Turtle-Creek-Quarterly-Commentary-2020-Q3.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202020%20-%20FINAL.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f871d84732ab26ee19d4081/1602690437395/Upslope+-+2020Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($BFAM)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_62_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/10/VVP-Quarterly-Letter-20.09.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f46984994bc44abab0fa9d012fa35da.pdf" target="_blank">Wedgewood Partners</a> - ($FRC, $NVDA, $V, $PYPL)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/3q2020-commentary" target="_blank">White Brook Capital</a> - ($GOOG, $GT)</li><li><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Q3%20Letter%20-%20Worm%20Capital%20-%20October%202020.pdf?utm_medium=email&_hsmi=96979337&_hsenc=p2ANqtz-9c8-1QN7remFXHTROTOZTyb6aD5SohUf2rFfwP8peAv3-Z1XJlW5WJvb4sn6epTXlR7KXK61iVzvAd7ZtR3HHcWBQZvQ&utm_content=96979337&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><span style="font-size: x-large;">2nd Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f1646c5f488c44459f92f6f/1595295430480/Q2%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($HBI)</li><li><a href="https://www.adestella.com/wp-content/uploads/2020/08/Q2-2020-Investor-Letter.pdf" target="_blank">Adestella Investment Management</a> - (WSE:LVC)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/07/Akre-Focus-Fund-Quarterly-Commentary-2020-Q2.pdf" target="_blank">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($QDEL, $DKNG, $MKTX, $INGN, $XPO, $HLIO).</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus</a></li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/07/Alluvial-Capital-Management-Q2-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $LICT, $NUVR, $RWWI, $CRAWA, $PII, $MMAC, $BUKS, $MHGU)</li><li><a href="https://p.weebly.com/14123551/8d9576d761/ACML_2020_Q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f21cdd21a3a007c9039d884/1596050899234/Q2+2020+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT, $NLAB)</li><li><a href="https://drive.google.com/file/d/1tOgr8EbBQL-DFcyuEIteClKQnktt-ioR/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/05/Q1-2020-applx-semi-annual-letter-updated-v2.pdf" target="_blank">Appleseed Fund</a> - ($TPIC).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($JLL, $MSGE, $SWK).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/06/Arisaig-Quarterly-July-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTIX-APDIX-APHIX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTMX-APDMX-APHMX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($PTON, $CHGG, $IEX, $LSCC, $BURL, $ASND).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTSX-APDSX-APHSX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-2q-2020-partner-letter-XzMTMQrb" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/08/2020-08-10-Askeladden-Capital-Q2-2020-Letter-Unkind.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://mcusercontent.com/1299c2986ac5b8b808d25e3db/files/3a2f5125-2747-4c36-90e0-cb882c13bfc0/Avory_Quarterly_Letter_2020_Q3.pdf" target="_blank">Avory&Company</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.20.pdf" target="_blank">Baron Asset Fund</a> - ($ZI)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-6.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($AAT, $CAKE, $FOUR, $AEIS, $CYRX, $NARI).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.20.pdf" target="_blank">Baron Health Care Fund</a> - ($SWAV, $IMMU, $CYRX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-6.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-6.30.30.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.20_0.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-6.30.20.pdf" target="_blank">Baron Small Cap Fund</a> - ($CCH, $AXNX, $KTOS, $AZEK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_6_30_bca_scv_marketcomm_final.pdf?utm_source=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CRNC, $CTLT, $EPAY, $PLOW, $SP, $BV, $SPSC, $TWNK)</li><li><a href="https://bluehawkinvestors.com/q2-2020-investor-letter/" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $EA, $SPLK, $STZ).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f1561892a4010553ea9a4fc/1595236745929/2020+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/c68a1a6b-f4ef-4fa0-a118-538e1f21755d/081020_Bonhoeffer_Partner_Letter_Q2_2020.pdf" target="_blank">Bonhoeffer Fund</a> - ($AM)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f0e14ec768fd51a428a531a/1594758381666/Bonsai+Partners+Q2+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($LKQ, $GNSS, $TSM, $PHPYF)</li><li><a href="https://www.boyarvaluegroup.com/wp-content/uploads/2020/07/2Q_2020_BVGLETTER.pdf" target="_blank">Boyar Group</a></li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202006.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf2q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf2q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/ief2q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f179f71130d4a67c0b7cc14/1595383665773/Q2+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2020/07/2020-Q2-CEF-Investor-Letter-2.pdf" target="_blank">Choice Equities Fund</a> - ($CELH, $APPS, $PINS, $CTRN, $TAST).</li><li><a href="http://choufunds.com/pdf/SEMI-AR%202020%20%28English%29.pdf" target="_blank">Chou Funds</a></li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2020+Q2+Letter.pdf" target="_blank">Coho Capital</a> - ($SPOT)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5efce03ba58d546e2e0f9e2b/1593630780199/Q22020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q2-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://www.docdroid.net/bFfeMjX/david-capital-partners-llc-letter-on-covid-19-2020-q2-pdf" target="_blank">David Capital Partners</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a> - ($COF, $BK).</li><li><a href="https://davisfunds.com/downloads/DGFPMComm.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFPMComm.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5efb340b8974eb3c8fb597aa/1593521163499/Del+Principe+O%27Brien+June+2020+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/fee3146b-2929-4ef2-a438-b026f217bccb/2020_Q2_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://dfdent.com/wp-content/uploads/2020/09/DF-Dent-063020-Annual-Report-FINAL-updated-3.pdf" target="_blank">DF Dent</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200630_Diamond-Hill_Small-Cap-Fund-Commentary-1.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/07/Q2-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/08/DKAM-ROE-Reporter-July-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_c1778ec658b04174856e4169cb505c0c.pdf" target="_blank">Emeth Value Capital</a> - ($BSM)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2020/" target="_blank">Ensemble Fund</a> - ($MASI, $NFLX)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_0.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200630.pdf" target="_blank">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200630.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200630.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200630.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://foragerfunds.com/wp-content/uploads/2020/07/Quarterly-Report_June-2020.pdf" target="_blank">Forager Fund</a> - ($CELH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-06.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q2.pdf?sfvrsn=14" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5f078ab33b43a56a3eb3feae/1594329782036/GCAM+Q2+2020+letter.pdf" target="_blank">Giverny Capital Asset Management</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q2%20Commentary/2020.02%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f1ce3f5ffc2762dc1e36675/1595728886611/Greenhaven+Road+Letter+%282020+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($GOGO, $LE, $IAC, $APPS, $KKR, $ESTC, $PAR)</li><li><a href="https://www.docdroid.net/8aEd6Ge/greenlight-2q20-letter-pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.08.18-Q2-2020-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/07/Greystone-Capital-Letter-H1-2020.pdf" target="_blank">Greystone Capital Management</a> - ($HIL, $RICK, $APG, $TRRVF, $MIXT</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/GE-2Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/IE-2Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-2Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-2Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q2.pdf" target="_blank">Hayden Capital</a> - ($AMZN, $SE)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($AAP, $RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($CNI, RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($MDC, $PLAB, $NFG)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SAH, $CCRN, $PCH)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q2NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Quarterly-Commentary_Q2-2020.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q20.pdf" target="_blank">Horos Asset Management</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/07/2020-Half-Year-JDP-Capital.pdf" target="_blank">JDP Capital</a></li><li><a href="http://investors.l1longshort.com/DownloadFile.axd?file=/Report/ComNews/20200720/02256558.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://l1international.com/wp-content/uploads/2020/07/06-2020-International-Fund-Quarterly-Report.pdf" target="_blank">L1 International Capital Fund</a> <a href="https://www.lrtcapital.com/wp-content/uploads/2020/07/2020-06-June-Performance-Update-Public.pdf" target="_blank">Capital</a></li><li><a href="https://www.docdroid.net/2ExPtjh/lakewood-capital-2020-q2-letter-pdf" target="_blank">Lakewood Capital Management</a> - ($HDS, $NSP, $ATH, $BLDP, $SLP, $SRNE)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f19a4d1e0b9f47a7f5974aa/1595516114278/Laughing+Water+Capital+1H%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/nlml7il3uj1purr/Lightsail%202Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($MMM)</li><li><a href="http://madison%20mid%20cap%20fund/" target="_blank">Madison Investors Fund</a> - ($MMC)</li><li><a href="http://madison%20investors%20fund%20-%20%28%24mmc%29/" target="_blank">Madison Mid Cap Fund</a> - ($IT, $LH, $MC).</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://www.docdroid.net/FGa8ior/maran-partners-fund-lp-2020-q2-letter1582-pdf" target="_blank">Maran Capital Management</a> - ($IAC)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2020/09/MVIP-Strategic-Growth-Commentary-2Q-2020.pdf" target="_blank">Mar Vista Investment Partners</a> - ($APH)</li><li><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202nd%20Quarter%20Letter%20to%20Investors.pdf?utm_medium=email&_hsmi=91107066&_hsenc=p2ANqtz-9LijGwDjSgj8jyqCenBnIBF47dmzsWi3IMjSFYI4FdU7JJBgy3y9ZYV2Hb0dIgRDoabuG10U1l5XThj0OJNeKKIwi9SQ&utm_content=91107066&utm_source=hs_email" target="_blank">Massif Capital</a> - ($HES, $RUN, $GOLD).</li><li><a href="https://www.mawer.com/assets/Newsletters/2Q20-Quarterly-Series-A-Net.pdf" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_aa805187f361412fa7b16ed0918e00e2.pdf" target="_blank">Merion Road Capital</a> - ($TRNS)</li><li><a href="https://millervalue.com/deep-value-strategy-2q20-letter/">Miller Value Fund</a> - ($BBBY, $NBR, $TMHC, $DXC).</li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q2_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a> - ($CRMLF, $CAR, $CCL, $REV, $CPXGF, $AZTEF)</li><li><a href="https://drive.google.com/file/d/1EY3GUJZn0WVXSuQy17mk1W5FYdOqL2Ry/view" target="_blank">MPE Capital</a> - ($WIX, $BRBOF).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/07/2020Q2.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($DOCU).</li><li><a href="https://drive.google.com/file/d/1vccfEmwX4ulExfEIrOE1IOB6uKeMU6QW/view" target="_blank">Nomadic Value Investment Partners</a></li><li><a href="https://www.nzscapital.com/s/NZS-Capital-Q2-2020-Letter.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2020/" target="_blank">Oakmark Fund</a> - ($RGA, $GD, $TMUS)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_a30dcf83719d44bba64d3b6e9f3f4345.pdf" target="_blank">Old West Investment Management</a> - ($FLGT).</li><li><a href="https://www.docdroid.net/bg0gNdv/pabrai-funds-q2-2020-pdf#page=7" target="_blank">Pabrai Funds</a></li><li><a href="https://www.palmvalleycapital.com/fundletter" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growt</a>h</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5f3b4cb88ea6a1347c012598/1597721787995/RF+Capital+Q2+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://www.rgaia.com/q22020-investment-commentary-the-tale-of-two-markets/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/67acd636-2e8e-4ba4-b038-d2c2d5805461/Rhizome_Partners_Q2_2020_Investor_Letter_Final.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q20.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($SNAP, $SHOP, $BILL, $AMZN, $TWLO, $CME, $IQV, $ZTS, $APO, $KKR, $MTN).</li><li><a href="http://riverpark%20large%20growth%20fund%20-%20%28%24snap%2C%20%24pins%2C%20%24uber%2C%20%24shop%2C%20%24bill%2C%20%24dxcm%2C%20%24rng%2C%20%24lmt%29.%20riverpark%20long/Short%20Opportunity%20Fund" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_2Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($BKNG, $BMT, $FB, $FLT)</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/08/Near-Term-Delusions-Long-Term-Collisions.pdf" target="_blank">RLT Capital</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan_Street_Capital_First_Half_2020_Letter.pdf" target="_blank">Rowan Street Capital</a> - ($SPOT)</li><li><a href="https://www.rvcapital.ch/post/co-investor-letter-h1-2020?cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6&utm_campaign=cadf75be-7334-4451-a092-5873c7ac02ac&utm_medium=mail&utm_source=so" target="_blank">RV Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c6eb517f46b24b9d8e9aad440f79ee19.pdf" target="_blank">Saga Partners</a></li><li><a href="https://www.saltlight.co.za/wp-content/uploads/2020/08/SaltLIght-2Q20-Letter-Final.pdf" target="_blank">SaltLight Capital</a> - ($COH.JO, CTK.JO)</li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ce3ae7fe-7fcc-4291-979b-4d30eb11a66a&Name=Q2_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="http://saturna%20capital%20saturna%20capital%20-%20amanafunds%20saturna%20capital%20-%20sextant%20funds/" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/b301205c-52a7-4f24-883c-1f3580537837/SilverRingValuePartners_2020Q2_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_7c247397881f467d9360d21885e78fb4.pdf" target="_blank">Spree Capital</a> - ($STNE, $WIX).</li><li><a href="https://srk-capital.com/content_files/2020/09/SRK-Fund-Q2-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/07/STJIC-Adviser-Letter-2020-Q2-Final.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $BSTC)</li><li><a href="https://taovalue.files.wordpress.com/2020/07/taovalue_2020_q2_final.pdf" target="_blank">Tao Value</a> - ($PDD, $YY, $AVLR, $CIH)</li><li><a href="https://langfrist.de/dokumente/H1_2020_E_Partners_Fund.pdf" target="_blank">TGV Partners Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAREX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TASCX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($WASH, $CKH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAVFX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Value Fund</a> - ($BKRIF, $IFSPF, $LUNMF, $CSFFF).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/08/Third-Point-Q2-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a> - ($BABA, $JD, $AMZN, $DIS, $PUK, $SPGI)</li><li><a href="https://drive.google.com/file/d/1nfnh_0ZD0IGbaB52zeQHGM4ESJTKJ5fQ/view" target="_blank">Tidefall Capital Management</a></li><li><a href="https://www.dropbox.com/sh/bkvnxsr7u27twgu/AABMPqyMuEORLDm6WSyqF7dla/Tollymore%20Q2%202020.pdf?dl=0" target="_blank">Tollymore Investment Partners</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q2.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202020%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f0dd29b6a8632767c30911b/1594741405126/Upslope+-+2020Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($RBA)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_61_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/07/VVP-Quarterly-Letter-20.06.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_a12f91a6fbfb4131afc3d1d848b4ae84.pdf" target="_blank">Wedgewood Partners</a> - ($AAPL, $BKNG, $BMY, $FB, $FLT)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Hickory Fund</a> - ($DLB)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/2q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5f0874ba8817e8400a707586/1594389693251/Quarterly+Letter+-+Q2+2020.pdf?utm_medium=email&_hsmi=91143433&_hsenc=p2ANqtz-8Ko2sOTz4bmQKkH-p3YIfULcolG5rwew-9bA1O9V_uN53WPygN_Q0fFs4scHhjzt3id6F-RguAoCQJ0AJnhDfYRrOHHA&utm_content=91143433&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">1st Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5eb05bb94b525e14b5bea7bc/1588616121738/Q1%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($GMS)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/04/Akre-Focus-Fund-Quarterly-Commentary-2020-Q1.pdf">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($EVBG, $EHTH, $QDEL, $CMD, $HSKA, $TCMD)</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a> - ($AMZN, $NVDA, $NFLX, $CBOE, $FB, $APPL, $V, $MDB).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/04/Alluvial-Capital-Management-Q1-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2020-q1.pdf">Alphyn Capital Management</a> - ($EXXRF, $BAM, $KKR, $BRFRF, $WANSF, $CDAY, $CFX, $OSSIF).</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5eab8f05c455f14a97fbcb32/1588301573873/Q1+2020+Alta+Fox+Capital+Quarterly+Letter-+Final+%281%29.pdf" target="_blank">Alta Fox Capital Management</a> - ($MMMB, $EVVTY, $GMMNF)</li><li><a href="https://drive.google.com/file/d/1y1uNGXNScAjx27rcd6yZf_U6GFWLtmVd/view">Andaz Private Investments</a></li><li><a href="https://ift.tt/2za22cd">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2020/02/APPLX-Q4-2019-Letter.pdf">Appleseed Fund</a> - ($HRTX, $NLY).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/45aea71a-f4d5-4f4b-98c2-44acc7934978/Arquitos_Investor_Letter_Q1_2020.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $SYTE, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($KMT, $NVST, $PGR).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/04/Arisaig-Quarterly-April-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTKX-APDKX-APHKX-QCommentary-1Q20-vR.pdf">Artisan International Value Fund</a> - ($BABA, $TCOM, $SLB, $TS, $SU, $SNE, $DANOY, $CNHI).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTMX-APDMX-APHMX-QCommentary-1Q20-vR.pdf">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTSX-APDSX-APHSX-QCommentary-1Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2020-partner-letter-X7QTZR97" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/04/Coronavirus-The-Cure-Is-Worse-Than-The-Disease.pdf">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.20.pdf">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.20.pdf" target="_blank">Baron Discovery Fund</a> - ($INGN, $QLYS, $FND, $SIEN, $PAR, $TXMD, $EVBG, $KTOS, $PENN, $AXNX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.30_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.2020.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.20.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_3_31_bca_scv_marketcomm_final.pdf" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $MEDP, $SP, $CNK, $PLOW, $CRNC, $TREE, $SERV).</li><li><a href="https://s3.amazonaws.com/bireme/1Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $BKNG, $WFC, $RICK, $KRG)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/04/Investor-Letter-Q1-20-FINAL.pdf">Blue Hawk Investment Group</a> - ($MSFT, $MTCH, $NFLX, $EA, $INTU, $ISRG, $V, $FB, $CHTR, $FND, $STZ, $NYT, $SPLK, $LULU).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e93edd2125a911e469ed339/1586752979541/2020+Q1.pdf">Blue Tower Asset Management</a></li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/762bb2f1-3530-4df8-9178-1acf0c0568f6/0520_Bonhoeffer_Partner_Letter_Q1_2020.pdf" target="_blank">Bonhoeffer Fund</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4595129/1Q_2020_BVG%20Letter.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=87095134&_hsenc=p2ANqtz-8G6GJm2tQ-xl7UIJ2SOoumqTKP4AhC-pkmfW5viIuwNsaxl8CcHOkHkKE0NZfnwUAC6TZZuSUzpyAM76WVz55zUySpCQ&_hsmi=87095134" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf1q20commentary.pdf">Brown Capital Management Mid Company Fund</a> - ($DXCM, $SHOP, $NCLH, $BFAM, $TDOC)</li><li><a href="https://browncapital.com/system/files/scf1q20commentary.pdf">Brown Capital Management Small Company Fund</a> - ($QDEL, $VEEV, $MANH, $PRO, $PLAN, $DDOG, $KIDS, $INCY).</li><li><a href="https://browncapital.com/system/files/ief1q20commentary.pdf">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q20commentary.pdf">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/04/Broyhill-Portfolio-Update-2020.Q1-FINAL.pdf" target="_blank">Broyhill Asset Management</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://cedcapital.in/wp-content/uploads/2020/04/Quarterly-PMS-Letter-Mar20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e85354c10a8a95136c22668/1585788237400/Q12020.pdf">Comus Investments</a></li><li><a href="https://www.crescat.net/wp-content/uploads/Q1-2020.pdf" target="_blank">Crestcat Capital</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/ecf4cd6f-3eb2-4b0c-8efb-1f9d281cfd7f/2020_Q1_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200331_Diamond-Hill_Small-Cap-Fund-Commentary.pdf">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/dcp_1q20_update" target="_blank">Distillate Capital</a></li><li>D<a href="https://mcusercontent.com/90031b83688dd5c83d79fcf31/files/a3202ae7-9dca-471c-94ed-340f07250b85/DKAM_ROE_Reporter_April_2020_.pdf" target="_blank">onville Kent Asset Management</a></li><li><a href="https://www.docdroid.net/kfBxxVh/elliot-letter-april-162020-perspectives-paul-singer-elliott-pdf#page=9">Elliot Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2020/" target="_blank">Ensemble Fund</a></li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2020.pdf">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/04/16115847/Client-Letter-Q1-2020_FINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://ift.tt/2VWR7dz" target="_blank">Firebird Management</a></li><li><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_Gold-Update.pdf" target="_blank">First Eagle Global Fund</a></li><li><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200331.pdf">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200331.pdf">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200331.pdf">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200331.pdf">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-03_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NBL, $VNOM, $ISBC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-update-q1-2020.pdf?sfvrsn=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/2020-3-fef-letter-to-shareholders.pdf?sfvrsn=12">Fundsmith Equity Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5e8f6c4e02b8fa04bead5904/1586457686283/GCAM+initial+letter+2020-03-27.pdf" target="_blank">Giverny Capital Asset Management</a> - ($GOOG, $GOOGL, $KMX, $BRK.B, $PGR, $SCHW, $SSNC, $HEI, $MKL, $ANET)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ea425773459dd34b66cf263/1587815799646/Greenhaven+Road+Letter+%282020+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($SHSP, $APPS, $KKR, $PAR, $KLR, $CSSE, $OPT)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.05.10-Confessions-v3.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4043042/Commentaries/2020.Q1%20Commentary/2020.Q1%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-1Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-1Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q1.pdf" target="_blank">Hayden Capital</a> - ($IBKR, $CVNA)</li><li><a href="http://m.heartlandadvisors.com/mid-cap-value-fund-q1-commentary.pdf" target="_blank">Heartland Mid Cap Value Fund</a> - ($WU, $PXD, $AAP)</li><li><a href="http://m.heartlandadvisors.com/select-value-fund-q1-commentary.pdf" target="_blank">Heartland Select Value Fund</a> - ($GRC, $CALM, $JNJ)</li><li><a href="http://m.heartlandadvisors.com/value-fund-q1-commentary.pdf" target="_blank">Heartland Value Fund</a> - ($MDU, $MDC,$EVTC)</li><li><a href="http://m.heartlandadvisors.com/value-plus-fund-q1-commentary.pdf" target="_blank">Heartland Value Plus Fund</a> - ($IDCC, $HTLD)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q1NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2020-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($BA, $ADM, $CRL, $ICE, $BTC).</li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q20.pdf" target="_blank">Horos Asset Management</a> - ($TGP, $TK, $GLNG, $AER, $NPSNY).</li><li><a href="https://www.dropbox.com/s/nqwe7xcvwjfxysy/Huffman%20Prairie%20-%201Q2020%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/02/2019-Annual-Letter-JDP-Capital-Management.pdf">JDP Capital</a> - ($SPOT, $STNE, $XPO)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5ea5f560592a27104f5c8cf0/1587934561140/Laughing+Water+Capital+Q1%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/ofrydh35bl0xctw/Lightsail%201Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/ltglobal-equity-fund/LTGEF_Latest.pdf">Lindsell Train</a>- ($WWE, $DIS, $DEO, $BF.A, $EBAY, $PYPL, $INTU)</li><li><a href="https://southeasternasset.com/commentary/1q20-llpf-commentary/">Longleaf Partners Fund</a> - ($H, $DD, $CTL, $CNHI, $PK, $CKHUY, $MAT).</li><li><a href="https://southeasternasset.com/commentary/1q20-llgl-commentary/">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llin-commentary/">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/04/2020-03-March-Performance-Update-Public.pdf">LRT Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a> - ($CSL).</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5ea1a3fb6d7e355e7a72a301/1587651580748/Maran+Partners+Fund+LP+2020+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20First%20Quarter%20Letter%20to%20Investors.pdf?utm_source=hs_email&utm_medium=email&utm_content=86138479&_hsenc=p2ANqtz-85M_ZqQO42g6PDwSL7bISxrDZM6OIQj5JzJ9uWzZx5Pf0pU87NtPhlX2MKkKLQ0F5775rJ5yF6-0W92JiA-wFdmFYs5g&_hsmi=86138479">Massif Capital</a></li><li><a href="https://www.mawer.com/assets/Newsletters/1Q20-Quarterly-Series-A-Net-1.pdf">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_b57612e6cdaa48429a600bdfe37560c4.pdf">Merion Road Capital</a> - ($CPRT, $EVBG, $RMCF)</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2020_03.pdf">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2020_03.pdf">Moneta MultiCaps C</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/04/2020Q1.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($GSK)</li><li><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2020/">Oakmark Fund</a> - ($AXP, $MTCH, $PINS, $WDAY)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2020/">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2020/">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d588a8b5d90047478bfcd71d0c8dd0a1.pdf">Old West Investment Management</a></li><li><a href="https://drive.google.com/file/d/1tD5XOGaM8cls4v95DSXFF131OYYpAMxE/view" target="_blank">Open Square Capital</a></li><li><a href="https://www.osam.com/pdfs/research/OSAM%20Update_Blizzard,%20Winter,%20or%20Ice%20Age_FINAL.pdf">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a> - ($AAP, $AGI, $BHE, $CRI, $CASS, $DKS, $EZPW, $GENC, $HCSG, $HP, $SLV, $KELYA, $OR, $SCHL, $SKX, $SP, $SYKE, $UNF, $UG, $WMK).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ABT, $BKNG, $FB, $ORLY, $ADSK, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5ea714f9981de6313a251243/1588008188839/RF+Capital+Q1+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/a591f71a-64ef-4ca1-80dc-2ea2a4646172/Rhizome_Partners_Q1_2020_Investor_Letter_Final.pdf">Rhizome Partners</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/04/Q1-2020-Investment-Commentary-FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($NUAN)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q20.pdf">RiverPark Large Growth Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_1Q20.pdf">RiverPark Long/Short Opportunity Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT, $COST, $APO, $KKR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_1Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($FAST, $KEYS, $MSFT, $ROSS).</li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan-Street-Capital-Q1-2020-Letter-1.pdf" target="_blank">Rowan Street Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_4ad59d00e289448cabcd6a61a130760e.pdf" target="_blank">Saga Partners</a> - ($AYX $CVNA $DBX $FB $LGIH $LIMAF $TTD $TRUP $VSEC $WIX)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q1-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q1-2020-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q1-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://moiglobal.com/wp-content/uploads/Semper-Vic-Partners-L.P.-Letter-to-Investors-April-2020.pdf" target="_blank">Semper Vic Partners</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ee82efca-a8be-4855-b3e0-e3ba3069a318&Name=Q1_2020_-_Investor_Letter">Sequoia Fund</a></li><li><a href="https://smeadcap.com/files/7915/8696/1388/1Q_2020_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://srk-capital.com/content_files/2020/05/SRK-Fund-Q1-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/04/STJIC-Adviser-Letter-2020-Q1.pdf">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ff8c300-0ef4-4034-914b-cbd5c86d581d/Steel_City_Capital_1Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/1Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a></li><li><a href="https://taovalue.files.wordpress.com/2020/05/taovalue_2020_q1_final-1.pdf" target="_blank">Tao Value</a> - ($GILD, $CACC, $ADS, $NXRT, $$BILI)</li><li><a href="https://static1.squarespace.com/static/54ce2abfe4b0513e12ea592f/t/5e886ec613e1233cd43c8cae/1585999558895/Templeton+and+Phillips+Commentary+-+March+2020.pdf">Templeton and Phillips Capital Management</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a> - ($CALM, $CET, $BATRA, $BATRK).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAVFX-Shareholder-Letter-Web.pdf">Third Avenue Value Fund</a> - ($BMWYY, $DB, $IFSPF, $HA, $ORI, $FDX, $VNO)</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/04/Third-Point-Q1-2020-Investor-Letter-TPOI-1.pdf" target="_blank">Third Point</a></li><li><a href="https://drive.google.com/file/d/1jshHJg_zQ30ZvmrU8iBTIBX9zE6CDtdo/view" target="_blank">Tidefall Capital Management</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q1.pdf">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202020%20-%20Final.pdf">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e99e67f7f671d105bf293af/1587144320124/Upslope+-+2020Q1+Letter.pdf" target="_blank">Upslope Capital Management</a></li><li><a href="https://www.docdroid.net/q7NxMcX/universa-investments-q1-2020-letter-pdf#page=6">Universa Investments</a></li><li><a href="https://mcusercontent.com/2686100c548ffa2b413d5cb29/files/3cb819ec-c2d9-4ff5-870b-cc86b4d93fbd/Vltava_Fund_Letter_to_Shareholders_Q1_2020.pdf">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/04/VVP-Quarterly-Letter-20.03.31.pdf">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q1-2020-REV-FNL.pdf">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200406/pdf/44gqxsc6q8zjdy.pdf">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f47cdae028142f1ade840f42986ab09.pdf">Wedgewood Partners</a> - ($FAST, $FB, $KEYS, $MSFT, $ROSS, $NVDA, $EA, $BKNG, $EW).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/1q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://mcusercontent.com/d194e1b3fd218137abdb074da/files/90c79ff7-93d3-49ac-9da6-1f1ea8209ae0/2020_04_16_White_Crane_Q1_2020_Letter.pdf">White Crane Capital</a></li><li><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/securepdfs/2020/04/23094734/Wolf-Hill-Q1-2020-Letter.pdf" target="_blank">Wolf Hill Capital</a> - ($HGV, $MIDD)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5ea1a3a3bc77342600cf7649/1587651493472/Worm+Capital+-+Q1+2020+Investor+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><span style="font-size: large;"><br /></span><span style="font-size: large;">4th Quarter 2019</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5e35af9e12c5156ca6085326/1580576670740/Q4%2719+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($ISDR, $RICK, $TSSI, $DPZ)</li><li><a href="https://drive.google.com/file/d/1ANcyf36aA9H83xfjYF3N5Z6Rc2YaS75q/view" target="_blank">2Point2 Capital</a></li><li><a href="https://gallery.mailchimp.com/f6660ee7c7b25c0643c0e8337/files/53f90575-0084-456e-b563-3e47282ae860/Admiral_Cap_4Q19_Letter.pdf">Admiral Capital Partners Fund</a> - ($CVNA, $GDDY, $GTT).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/01/Alluvial-Capital-Management-Q4-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $CRAWA, $BUKS, $NUVR, $LICT)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5e3633d4cd5a0d4354e18334/1580610521595/Q4+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q4.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://drive.google.com/file/d/1OSNsquPrryvmnAYEPpfK8VMGtb5qSILE/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://ift.tt/2TwwgOx" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($ARDX, $SAVE, $MOS, $SINA, $SNE, $RYAAY).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Funds</a> - ($CCL, $NLSN).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/APFDX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTMX-APDMX-APHMX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($SWKS, $TW, $CMS, $UA, $ABMD, $ZS, $BURL, $AMD, $ANET, $SERV, $DXCM).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTSX-APDSX-APHSX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTLX-APDLX-APHLX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2019-partner-letter-w57TvkLz" target="_blank">Artko Capital</a> - ($MO, $REPH, $GAIA, $RSSS)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/02/2020-02-17-Askeladden-Capital-Q4-2019-Letter-Breaking-Bad.pdf">Askeladden Capital</a></li><li><a href="https://content.rwbaird.com/RWB/Content/PDF/AssetManagement/Q3-2019-Mid-Cap-Growth-Mutual-Fund-Commentary.pdf">Baird MidCap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Asset Fund</a> - ($DXCM, $SAGE).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Discovery Fund</a> - ($PGNY, $ESPR, $SIEN, $SITE, $ICHR, $TXMD, $MRCY, $FSCT, $TCMD, $SCPPF, $OLLI, $BRP, $CDNA).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%2012.31.19_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Real%20Estate%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="http://www.bernzott.com/uploads/1/5/9/5/15953620/2019_12_31_bca_scv_marketcomm.pdf?utm_source=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $PLOW, $LOGM, $MG, $MIK, $CNK, $CTLT, $EPAM, $AGS).</li><li><a href="https://s3.amazonaws.com/bireme/4Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a> - ($KRG, $DNKN)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/01/Q4-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e2e81226ba9076709046053/1580106019545/2019+Q4.pdf" target="_blank">Blue Tower Asset Management</a></li><li><a href="http://boyarvaluegroup.com/bvg-pdf/4Q_2019_BoyarResearch.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=82628381&_hsenc=p2ANqtz-_eFJS4AvVpyZPJ93cqx7hT_a3Ecgy_iQ8I_KJWvq6pyI5hY8KWOrRF3lJXq2wgq7vsVrrVKm3ExXWqv88qtB2prmxWqg&_hsmi=82628381" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf4q19commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf4q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($VEEV, $GKOS, $TNDM, $SMAR).</li><li><a href="https://browncapital.com/system/files/ief4q19commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf4q19commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/02/The-Broyhill-Letter-2020.02-FINAL.pdf">Broyhill Asset Management</a></li><li><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2020/01/bumbershoot-holdings-2020-1-jan-letter-to-partners-2019-1.pdf" target="_blank">Bumbershoot Holdings</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://citronfund.com/wp-content/uploads/2020/01/Citron-Capital-Annual-Investor-Letter-for-2019.pdf" target="_blank">Citron Capital</a> - ($RH, $PTON).</li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2019+Q4+Letter.pdf">Coho Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e181bff65c626738a349429/1578638336674/FY2019.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($YUMC, $FRRVF, $PTC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5e3048cf9826d330d5c2854e/1580222671293/Q4+and+YE+2019+Letter.pdf" target="_blank">Curreen Capital</a></li><li><a href="https://danwang.co/2019-letter/" target="_blank">Dan Wang</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a>.</li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFAnnualReview.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYVFPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Midcap-Letter-4Q19.pdf" target="_blank">DF Dent Midcap Growth</a> - ($ODFL, $TWLO, $VEEV, $ANSS, $MCO, $CBRE, $VRSK, $VMC, $MKL).</li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Small-Cap-Letter-4Q19.pdf" target="_blank">DF Dent Small Cap Growth</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/191231_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/90031b83688dd5c83d79fcf31/files/48eecab4-b7af-4d56-8e05-f3d54f33d10f/DKAM_ROE_Reporter_January_2020_.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://www.nsx.com.au/ftp/news/021737727.PDF" target="_blank">East 72 Holdings</a></li><li><a href="https://gallery.mailchimp.com/dd77d6a119e511a93e9308144/files/98e445bf-1c22-4a23-8a6b-1d71d798899f/Edgebrook_Mid_Year_Letter_2019.pdf" target="_blank">Edgebrook Partners</a> - ($APEUF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2019/" target="_blank">Ensemble Fund</a> - ($PAYX, $BR)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2019.pdf">Evermore Global Value Fund</a> - ($IAC, $MTCH, $ANGI, $STNG, $KRA, $ENZ).</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15183252/Q4-2019-Broadview-Dark-Horse-Quarterly-Letter.pdf" target="_blank">Ewing Morris Dark Horse</a> - ($LQSIF)</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15170401/Q4-2019-Final-1.pdf" target="_blank">Ewing Morris Opportunities Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-12_final.pdf?sfvrsn=8">FPA Capital Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2019.pdf?sfvrsn=6" target="_blank">Fundsmith Equity Fund</a></li><li><a href="http://gatorcapital.com/wp-content/uploads/2020/01/GFP-Q4-Investor-Letter-Updated.pdf" target="_blank">Gator Capital Management</a></li><li><a href="http://www.givernycapital.com/en/doc/236/Giverny_Capital_-_Annual_Letter_2019_web_.pdf">Giverny Capital</a></li><li><a href="http://www.goodhavenfunds.com/media/pdfs/2019_AR.pdf" target="_blank">GoodHaven Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5e4703048934db2c06ec56ae/1581712134756/Greenhaven+Road+Letter+%282019+Q4%29.pdf">Greenhaven Road Capital</a></li><li><a href="https://www.scribd.com/document/443770600/Greenlight-Q4-2019#download&from_embed" target="_blank">Greenlight Capital</a> - ($AER, $AGO, $ATC, $BHF, $CC, $GM, $GRBK, $NFLX, $DXC).</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.01.23-Q4-Letter-v5.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-4Q19-Report.pdf">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2019/IE-4Q19-Report.pdf">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2019/ISC-4Q19-Report.pdf">Harding Loevner International Small Companies Equity</a> - ($GUZOF, $ALICORC1, $PGENY).</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-4Q19-Report.pdf">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q4.pdf">Hayden Capital</a> - ($SE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($LEG, $EXC, $UMBF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SCHW, $GTS, $CONE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TBBK, $AMRC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($ASB, $PAHC)</li><li><a href="http://www.hgcinvest.com/wp-content/uploads/2020/01/HGC-Arb-Letter-December-2019.pdf" target="_blank">HGC Investment Management</a> - ($GSAC, $DEAC).</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2019Q4NP.pdf">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q4-2019-Horizon-Kinetics-Commentary_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q19.pdf">Horos Asset Management</a></li><li><a href="https://www.dropbox.com/s/wj5xngs5dpjc0la/Huffman%20Prairie%20-%202H2019%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a> - ($PKE)</li><li><a href="https://l1international.com/wp-content/uploads/2020/01/L1-Capital-International-Fund-Quarterly-2019-12.pdf" target="_blank">L1 Capital International Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5e3b0e94a8e0ad4a457d4a5e/1580928660765/Laughing+Water+Capital+YE+2019.pdf">Laughing Water Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/lt-uk-fund/2019/LTUK_MR_2019_12.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5e33310f6cac3d0b6f0a070d/1580413200079/4Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $CTEK, $SFE, $PESI)</li><li><a href="https://southeasternasset.com/commentary/4q19-llpf-commentary/">Longleaf Partners Fund</a></li><li><a href="https://www.lyricalam.com/wp-content/uploads/2020/01/LAM-2019-Review-letter.pdf" target="_blank">Lyrical Asset Management</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5e323c32f8043d0750f9a1f1/1580350515744/Maran+Partners+Fund+LP+2019+Q4+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RNGR, $SDI).</li><li><a href="https://www.mcmadvisors.com/wp-content/uploads/2020/01/Martin-Capital-Management-2019-Annual-Report.pdf" target="_blank">Martin Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Year%20End%20Letter.pdf?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-8wWAtvLCSJ92jhQUdjS_UF5sLUTcGZPdtnlxPMJfKIFGmlgVgnj1U2Yj9GHeBoCbudkm9l" target="_blank">Massif Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_4b6d6eb57e724504b2acd6925fe444a6.pdf" target="_blank">Merion Road Capital</a> - ($TTWO, $ODP)</li><li><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf">Miller Value Fund</a> - ($FTCH, $ET, $CDEV).</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2019_12.pdf" target="_blank">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2019_12.pdf" target="_blank">Moneta MultiCaps C</a></li><li><a href="https://drive.google.com/file/d/1HXfARV-D0Ty0LjixHFdMQc9keEOyV3XN/view" target="_blank">MPE Capital</a> - ($CACC).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/01/2019-Nelson-Roberts-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($IBM)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Fourth-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_1eee8738221f439bacc164cda1472ccf.pdf">Old West Investment Management</a> - ($GOLD)</li><li><a href="https://www.osam.com/pdfs/research/Q4%202019%20Investor%20Letter%20-%20FINAL.pdf" target="_blank">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmharbourcapital.com/files/PHC%20Q4%202019%20Letter.pdf" target="_blank">Palm Harbour Capital</a></li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_7f7cfd9362f1496597164ec1ee5a1757.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/dab30c88-52e6-425d-94a0-2f672f543d3f/4Q19%20Parnassus%20Core%20Equity%20Fund%20Commentary.pdf">Parnassus Core Equity Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/fc4897bd-50cb-43fb-9296-bddb814716c6/4Q19%20Parnassus%20Mid%20Cap%20Fund%20Commentary.pdf">Parnassus Mid Cap Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $CRM, $ABT, $NOW, $ORCL).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Global Growth</a> - ($MSFT, $BABA, $ABT)</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5e66d8317891847c6cd48c38/1583798321575/RF+Capital+Q4+2019+Investor+Letter.pdf">RF Capital Management</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/01/2019-Year-End-Commentary_FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($ANGI, $DBX, $GRUB, $TWTR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($AAPL, $UNH, $BX, $MSFT, $ADSK, $SDC, $TWTR, $NOC, $TDC, $TWLO).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_4Q19.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_4Q19_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/01/Dont-Cha-Know.pdf" target="_blank">RLT Capital</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Fund.pdf">RMB Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Small-Cap-Fund.pdf">RMB Small Cap Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-SMID-Cap-Fund.pdf">RMB SMID Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/aaf68a26-7a10-4c45-bfe1-fb0cb97b85d1/Saber_Investment_Fund_Q4_2019_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c69e35b055894d1aad827cde8423bc2f.pdf">Saga Partners</a> - ($TTD, $LIMAF, $FB, $LGIH, $VSEC, $CVNA)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q4-2019-web.pdf">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q4-2019-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q4-2019-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://static.fmgsuite.com/media/documents/c388840b-3dda-41da-a062-077bf785255b.pdf">Semper Augustus</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=7a947f03-c188-49d6-b32f-9cddfe5ebb9a&Name=Q4_2019_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://gallery.mailchimp.com/57cdfc490b101d54b70128c06/files/a813a300-8f68-43cb-8b3d-2fa28aed58fb/SilverRingValuePartners_2019Q4_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/files/9315/7910/2122/4Q_2019_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://www.socialcapital.com/annual-letters/2019.pdf">Social Capital</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_d91d278701ba4b21afd564ffabb36d1f.pdf" target="_blank">Spree Capital</a> - ($RST, $MTCH, $FERGY).</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2019-Annual-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($TARO, $EGRX, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2020/02/taovalue_2019_q4_final.pdf">Tao Value</a></li><li><a href="https://www.langfrist.de/dokumente/2019_e_Rubicon_full.pdf" target="_blank">TGV Rubicon Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($GPOR.L, $HHC, $PSA, $VNO, $SRG, $FPH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BMWYY, $DB, $MAC).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/01/Third-Point-Q4-2019-Letter-TPOI-Final.pdf" target="_blank">Third Point</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2019-Q4.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://mcusercontent.com/2506bda6ca9a8b7ce8b3c54b4/files/0c17bc16-6a20-4c24-8459-53e800315fe7/TARF_2019_Annual_Commentary_vFinal.pdf" target="_blank">Tyro Capital Management</a> - ($MO, $REPH, $SKY, $SMCI, $MTCH, $UBSFF, $BXC, $MYOV)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e209a872cfe3e653d0bd4bd/1579195017065/Upslope+-+2019Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FOCS, $DLTR)</li><li><a href="https://www.dropbox.com/s/lgqbpo4oownzo5m/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q4%202019%20%28V1.1%29.pdf?dl=0&utm_source=The+Vilas+Fund%2C+LP&utm_campaign=d48e03b6f7-4Q2019+Main&utm_medium=email&utm_term=0_d81d32d2af-d48e03b6f7-431110445" target="_blank">Vilas Fund</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_58_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200108/pdf/44d49tnm31r1hz.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_b41d00a2669749f4babb2c468e820ecd.pdf" target="_blank">Wedgewood Partners</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners III Opportunity Fund</a> - ($SIRI, $LSXMB, $EVREF).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/ds32xz73grnzqbxdargxzancsg91q7it" target="_blank">White Brook Capital</a></li><li><a href="https://gallery.mailchimp.com/d194e1b3fd218137abdb074da/files/a8558333-dad0-40c8-8abd-8468fb20e0f9/2020_01_21_WCMSF_Q4_2019_Letter.pdf" target="_blank">White Crane Capital</a></li><li><a href="https://www.docdroid.net/tJT1NRd/wolf-hill-2019-year-end-letter.pdf" target="_blank">Wolf Hill Capital</a> - ($CNR, $REGI, $WTSHF)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5e1d007471426f2f29068da4/1578958966239/Worm+Capital+2019+Year+End+Letter.pdf" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">3rd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/10/Alluvial-Capital-Management-Q3-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $LICT, $NUVR, $APTL, $NORSA, $PIOE, $MHGU, $ITD.IM, $EDAC.IM, $SIO.IM)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5db8fdd21b54db1101ac3c18/1572404691231/Q3+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($KRMD, $KYYWF, $STKS)</li><li><a href="https://www.docdroid.net/I8sosdq/andaz-notes-2019-09-30.pdf" target="_blank">Andaz Private Investments</a> - (CBS.B, $VIAB)</li><li><a href="https://ift.tt/35Tb1KD" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($SINA, $WB, $MOS, $SAVE, $ARDX, $SNE, $RYAAY)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/eb95b5c5-e141-4f87-b0d5-95d5e1a7a2a5/Arquitos_Investor_Letter_Q3_2019.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BX, $BWA, $DIFTY, $ZBH)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTMX-APDMX-APHMX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($ALXN, $EXAS, $GDI, $GWRE, $CTLT, $BURL, $PAGS, $LHX, $ANET, $ASND)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTSX-APDSX-APHSX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-3q-2019-partner-letter-EvrTnLGB" target="_blank">Artko Capital</a> - ($FTK, $LEAF, $SKY, $USAT, $EEI, $SPAR)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/11/2019-10-28-Askeladden-Capital-Q3-2019-Letter-Earn-It.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Asset Fund</a> - ($CCC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Discovery Fund</a> - ($TXMD, $FND, $TREX, $MRCY, $KNSL $VRAY, $SILK, $BE, $CDNA, $TPIC, $MDLA, $PING, $WMS, $VRNS, $INGN)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Investor%20-%20Baron%20Small%20Cap%20Fund%203Q19.pdf" target="_blank">Baron Small Cap Fund</a> - ($CDAY, $CCC, $COLD)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $SP, $PLOW, $OI, $AGS, $QUOT,$ CTLT, $EPAM, $KN, $CLDR, $AGS, $GNRC)</li><li><a href="https://s3.amazonaws.com/bireme/3Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $COKE)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/10/Q3-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($SFIX, $GRUB, $MTCH, $NFLX)<span id="goog_146329209"></span><a href="https://www.blogger.com/"></a><span id="goog_146329210"></span></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5dad22ac218aa17443c4035b/1571627692663/2019+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2d3eecc8-c31e-45c7-8c24-e0e1a8269ac3/1019_BCM__Partner_Letter_Q3_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $CAMB.LN)</li><li><a href="https://browncapital.com/system/files/scf3q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($TYL, $MANH, $ABMD, $INGN)</li><li><a href="https://browncapital.com/system/files/mcf3q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a> - ($EW, $TYL, $ALGN, $ULTA, $MKTX, $CRL, $JBHT)</li><li><a href="https://browncapital.com/system/files/ief3q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a> - ($CZMWF, $ESLOY, $QGEN, $IPSEF, $MONOY)</li><li><a href="https://browncapital.com/system/files/iscf3q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/10/2019-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> ($RUBI, $BXC, $HOME, $QMCO)</li><li><a href="https://drive.google.com/file/d/1jzHBEfehpV9TfzwFhiGl91UMVtnGwWjS/view">Compound Everyday Capital</a></li><li><a href="https://gallery.mailchimp.com/a6cd0be2415ea775a57718587/files/14809e7f-2f16-4cb8-8fb3-8c589f63c6ed/50._Q3_2019.pdf" target="_blank">Compound Money Fund</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5db88acf71786e4ef3228683/1572375248129/2019Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($IPGLF, $NVST, $A, $FRC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5da0d2a16603d478b62581b4/1570820769906/Q3+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($GTX, $KTB, $MFGP, $BLD)</li><li><a href="https://davisfunds.com/downloads/DFFInterview.pdf" target="_blank">Davis Financial Fund</a></li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a> - ($JD, $AMAT)</li><li><a href="https://davisfunds.com/document/read/DNYPMComm" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/bf83181f-b69f-4ece-a640-a4007c15ed07/Q3_2019_Investor_Letter_Desert_Lion_Capital.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/190930_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/10/E72-Quarterly-Report-Sept-2019.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $DTLA, $FFXDF, $VULC, $PICO)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2019/" target="_blank">Ensemble Fund</a> - ($MA, $TIF)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2019.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2019/10/07164955/Quarterly-Update-Q3-2019.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/funds/shrpt/ann_shrpt_093019.pdf" target="_blank">Fiduciary Management FMI Large Cap</a> - ($HDS)</li><li><a href="https://t.co/3lQBLZ89rY?amp=1" target="_blank">Firebird Management</a> - ($LNC, $GES)</li><li><a href="https://focusedcompounding.com/wp-content/uploads/2017/06/Q3_2019_Letter_to_Clients-1.pdf" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI, $TPHS, $KEWL, $MLP)</li><li><a href="https://www.asx.com.au/asxpdf/20191011/pdf/449dftp5k138nd.pdf" target="_blank">Forager Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2019-q3b0f6f4531b0367849d6cff0000f7084a.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-09.pdf?sfvrsn=8" target="_blank">FPA Capital Fund</a> - ($AMBA, $NBL, $DAN, $IDCC)</li><li><a href="http://gatorcapital.com/wp-content/uploads/2019/10/GFP-Q3-Investor-Letter.pdf" target="_blank">Gator Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5daa7eaeab96a61181bef76f/1571454639744/Greenhaven+Road+Letter+%282019+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($NTDOY, $CSSE, $KKR, $BXC, $APPS, $PAR, $SHSP, $GIGRT, $GIGWS)</li><li><a href="https://www.docdroid.net/hM7Tnw8/qlet2019-032.pdf" target="_blank">Greenlight Capital</a> - ($NFLX, $TSLA, $CC)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.11.14-Q3-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://ift.tt/34FFgn5" target="_blank">Goehring & Rozencwajg</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q3.pdf" target="_blank">Hayden Capital</a> - ($CACC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a></li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SAFM, $MHK, $CVS)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($VST, $LNDC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a></li><li><a href="https://www.docdroid.net/pCmtahr/hellerhouseopportunityfund-2019q2letter-public.pdf#page=17" target="_blank">Heller House Opportunity Fund</a> - ($SHOP $WORK $ROKU)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://www.dropbox.com/s/l24e3ilw0j2kkyq/Lightsail%203Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/investment-insights/2019/Are%20You%20Experienced%20-%20November%202019.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5db9dbd123316d682a695a20/1572461522295/3Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $PSSR, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/3q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CTL, $GOOG, $GOOGL, $CMCSA, $GE, $FDX, $FRFHF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5db9f8173907823b364ebba8/1572468760093/Maran+Partners+Fund+LP+2019+Q3+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RCMT)</li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Third%20Quarter%20Letter%20to%20Investors.pdf" target="_blank">Massif Capital</a> - ($DO, $TOO, $EAF, $DE, $UNP, $CSX, $NCLH)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_adb2e39184484fd5a9374a1b8ddad5fe.pdf" target="_blank">Merion Road Capital</a> - ($HXL, $IAA, $TRNS)</li><li><a href="https://www.hvst.com/organization/meson-capital-partners-llc/posts/meson-q3-update-man-vs-machine-wPZT3xZx" target="_blank">Meson Capital</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2019Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/10/2019-Q3-Nelson-Roberts-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($SIVB, $SCHW, $AKAM, $PFE, $DLR)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Third-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a> - ($GOOG, $CHTR, $DDAIF, $APA)</li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_fe35b044b6f9420aa65670c4b7dfbf7f.pdf" target="_blank">Old West Investment Management</a></li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_2044e47207184e0a96223be92f96d4b5.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.B, $CRD/B, $GENC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $IT, $MSCI)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a> - ($ALGN, $ABT, $SGSOY)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a> - ($TREX, $FND, $LMAT, $FOXF, $OLLI, $TREE, $APPF, $ALTR)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://files.constantcontact.com/07cbbb80601/d7746d56-0340-44ba-b2d3-fb41d43a159a.pdf" target="_blank">Rangeley Capital</a> - ($CHTR)</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5db930e3f152967e525fbd89/1572417764733/RF+Capital+Q3+Letter+2019.pdf" target="_blank">RF Capital Management</a> - ($FL, $GAPFF, $ZAGG, $GME, $GTX)</li><li><a href="http://www.rgaia.com/q32019-investment-commentary-kambi/" target="_blank">RGA Investment Advisors</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($GOOG, $BX, $AAPL, $NOC, $EQIX, $EXAS, $ALGN, $AMZN, $SDC, $ULTA, $TWLO)</li><li><a href="http://www.rmbcap.com/files/RMB_Core_Equity_-_Investor_Letter_3Q19.pdf" target="_blank">RMB Core Equity Fund</a></li><li><a href="https://themarketplunger.com/2019/11/12/q3-2019-letters/" target="_blank">Rockvue Capital</a> - ($UAA, $FOX)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/4d8542a4-48be-4664-bc79-6506621e8100/Saber_Investment_Fund_Q3_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_7f9545a28a0a48129a7920980b5b2f27.pdf" target="_blank">Saga Partners</a> - ($VSEC)</li><li><a href="https://sevencanyonsadvisors.com/resources/seven-canyons-world-innovators-quarterly-commentary/" target="_blank">Seven Canyons World Innovators</a></li><li><a href="https://docs.wixstatic.com/ugd/de07f6_0c03e7d62d824ca98a96fa974471a7fb.pdf" target="_blank">Spree Capital</a> - ($CFX, $CARS)</li><li><a href="https://srk-capital.com/content_files/2019/11/SRK-Fund-Q3-2019.pdf" target="_blank">SRK Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($SLGD, $BSTC, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2019/10/taovalue_2019_q3_final.pdf" target="_blank">Tao Value</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/11/2019-Q3-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($CLNY, $GWW, $HNGKY)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CTB, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2019/10/Third-Point-Q3-2019-Letter-TPOI-.pdf" target="_blank">Third Point Offshore Fund</a> - ($ESLOY, $SNE)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5da981abd30f37336bb612b3/1571389868322/Tollymore+letter+Sep+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($GRUB)</li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Fund</a> - ($KRNTY, $FOX $FOXA, $TBABF, $BIDU)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5da09b01c80d065ebaf8d703/1570806531156/Upslope+-+2019Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($IT)</li><li><a href="https://www.dropbox.com/s/vsrenaad14f2bxa/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q3%202019%20%28Final%29.pdf?dl=0&utm_source=Website+Signup+-+Vilas+Capital+Management%2C+LLC&utm_campaign=8004c87a9b-3Q2019+Ltr_Web&utm_medium=email&utm_term=0_0fbdf27fc5-8004c87a9b-431098533" target="_blank">Vilas Capital</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_57_en.pdf" target="_blank">Vltava Fund</a> - ($BRK.A, $BRK.B, $SBRCY, $BMWYY)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_03b9a051772a4b9792c849ed7f74150a.pdf" target="_blank">Wedgewood Partners</a> - ($CDW, BRK.B, $NVDA, $ULTA)</li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/3Q19_Value%20Matters.pdf?1572140971546" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/4giogadrnt294d6q8t3a4awtxhrkjmjh" target="_blank">White Brook Capital</a> - ($BOX, $GRPN)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5db752012422566f6f7f86a4/1572295170818/Q3+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><div><br /></div></div><span style="font-size: large;">2nd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/07/Alluvial-Capital-Management-Q2-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $NUVR, $MMAC, $RAMPF, $CLWY, $CMLS, $FTR)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5d3a2ee5c694120001688a00/1564094184541/Q2+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($PAYS, $KWS, $NTDOY)</li><li><a href="https://www.dropbox.com/s/19lcbm48spw3g9c/Andvari-2019q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MLAB, $UPLD, $APPN, $BL, $WDAY, $TYL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/08/APPLX-Q2-2019.pdf" target="_blank">Appleseed Fund</a> - ($CRTO, $SINA)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAZ, $TAP, $MTSC)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/6b4ee586-4e8c-4044-a1be-d9f30c4f9e34/Arquitos_Investor_Letter_Q2_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTMX-APDMX-APHMX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTSX-APDSX-APHSX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-2q-2019-partner-letter-EvrTnmKZ" target="_blank">Artko Capital</a> - ($CCNI, $JYNT, $WFCW, $FLL, $NRCGW)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/07/2019-06-29-Askeladden-Capital-Q2-2019-Letter-Askeladden-Reloaded.pdf" target="_blank">Askeladden Capital</a> - ($FC, $AER, $DLTH, $LGIH, $SFM, LQDT)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $IDXX, $SSNC, $BNFT, $IRDM, $FDS, $ACGL, $RRR, $TWOU, $CVET, $ADPT, $ALEC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $ACGL, $CHH, TSLA, $BNFT, $MANU)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($IDXX, $JBT, $SITE, $TTD, $BFAM, $GTT, $RRR, $CISN, $PRA, $CVET, $TREX)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_6_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $GNRC, $BV, $CLDR, $SSTK, $MIK, $EPAM, $SNPS, $LOGM, $INOV, $CARB, $MINI)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-2q19-quarterly-letter" target="_blank">Bireme Capital</a></li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/07/Q2-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $GRUB, $TRIP)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5d350ce2e13121000110246f/1563757795868/2019+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($CNR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/8ef5fe82-9246-4fdd-afb3-8bb4681ebb8b/0719_BCM_Partner_Letter_Q2_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $GTN)</li><li><a href="https://browncapital.com/system/files/scf2q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf2q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief2q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/07/2019-Q2-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($DEST, $BXC, $PAR)</li><li><a href="https://www.docdroid.net/IereKR2/coho-capital-2019-q2-letter.pdf" target="_blank">Coho Capital</a> - ($GDDY)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5d1909fa11a9570001ea18c8/1561922043505/2019Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FISV, $FRRVY, $FRRVF, $TTNDY)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5d2fbf4e8b4dd7000199603e/1563410254409/Q2+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($KTB)</li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/5fd3b3ea-7001-4c07-8d63-f95d455af921/Q2_2019_Desert_Lion_Capital_Letter.02.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/07/E72-Quarterly-Report-June-2019.pdf" target="_blank">East 72 Holdings</a> - ($AFTPF, $ADS)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2019/" target="_blank">Ensemble Fund</a> - ($BR, $SBUX, $FAST, $FRC, $GOOG)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($DIS, $BORR, $STING)</li><li><a href="https://www.ewingmorris.com/wp-content/uploads/2019/07/Q2-2019-Letter-vFINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2019/iso_lc_20190630.pdf" target="_blank">Fiduciary Management FMI Large Cap</a></li><li><a href="http://ift.tt/2lCHEK9" target="_blank">Firebird Management</a> - ($BV, $KSS)</li><li><a href="http://bit.ly/2IVHtCO" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q2-2019.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-06_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5d44bf055832920001fa4381/1564786438422/Greenhaven+Road+Letter+%282019+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($KKR, $APPS, $PAR, $SHSP, $ETSY, $NTDOY)</li><li><a href="https://www.docdroid.net/nGef9ZE/greenlightq2letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.08.19-Q2-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q2.pdf" target="_blank">Hayden Capital</a> - ($CMPR, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($RDN, $VST, $CALX)</li><li><a href="https://www.dropbox.com/s/5nuv7dwl1ciblrv/Lightsail%202Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5d46e8a04cbc950001226b6c/1564928160433/2Q19+letter.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $DAIO, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/2q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CMCSA, $GE, $AMG, $CTL, $HCMLY\$HCMLF, $CHKGF, $CNHI, $FDX, $MAT, $CNX) - ($CBLLF, $DE)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5d3b26b6b5cb710001c505e5/1564157623654/Maran+Partners+Fund+LP+2019+Q2+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $WLK, $BXC, $SVIN, $BH)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2019/07/MVIP-2Q19-Letter-FINAL.pdf" target="_blank">Mar Vista Investment Partners</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5d2dd3b02daa030001a79d58/1563284400621/Massif+Capital+Second+Quarter+Letter+to+Investors.pdf" target="_blank">Massif Capital</a> - ($CBLLF, $DE)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_109a2c968fa84fa2afd22765e9af9374.pdf" target="_blank">Merion Road Capital</a> - ($IAA, $KAR, $MHH)</li><li><a href="https://www.brookvine.com.au/wp-content/uploads/2019Q2_Mittleman-Global-Value-Equity-Fund_Qtrly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/13kJJaxTuFCpNSOGStboGQFTDcl6ywMQq/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q2-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ROP, $DLR, $PFE) </li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_704bd79f605041f3920f5f06d726faf1.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.A\$CRD.B, $CWGL, $NGS, $WMK, $UG, PTVCA\PTVCB, $AE, $DOX, $SCHL, $GENC)</li><li><a href="https://pershingsquareholdings.com/wp-content/uploads/2019/08/2019-Semiannual-Financials-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q2-2019-investment-commentary/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://gallery.mailchimp.com/bca5bc00638aa58b6cada7fab/files/3f913a70-cf19-4e27-8a1c-42a613be3200/Rhizome_Partners_Q2_2019_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($ADBE, $AMZN, $FIVE, $ISRG, $GOOG\$GOOGL, $FB, $AAPL, $BX, $EXAS, $MSFT, $DIS, $PANW, $TDC, $ADSK, $COG)</li><li><a href="https://themarketplunger.com/2019/08/10/2q-2019-letter/" target="_blank">Rockvue Capital</a> - ($EAF, $TH, $UAA)</li><li><a href="https://www.rvcapital.ch/wp-content/uploads/2019/08/Co-Investor_Letter_H1_2019-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/a676b819-a092-4246-8284-74178e0a6fa9/SIF_2019_07_19_Investor_Letter.04.pdf" target="_blank">Saber Capital Management</a> - ($FB, $WFC)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_cee76b8ab55c40bcbc31421f7759ca6f.pdf" target="_blank">Saga Partners</a> - ($TTD, $LIMAF, $FB, $TRUP, $UA)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_58cdbf3f06da4d9b9bfc3dfba3366371.pdf" target="_blank">Spree Capital</a> - ($CVET, $BB, $QCOM)</li><li><a href="https://assets.empirefinancialresearch.com/uploads/2019/07/EFD-7-1-Stanphyl-Capital-Letter-June-2019.pdf" target="_blank">Stanphyl Capital Management</a> - ($TSLA, $AVNW, $WSTL)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $BSTC, $ELMD)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5d1b720139ab94000119388b/1562079747536/Tollymore+letter+June+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($BID)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5d2cb4770f60db0001b4a56c/1563210872722/Upslope+-+2019Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FLIR, $HGV, $COKE, $PACK)</li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_56_en.pdf" target="_blank">Vltava Fund</a> - ($AN)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_d88728c47e5442b9aa1f1d731c89ef5b.pdf" target="_blank">Wedgewood Partners</a> - ($ALC, $BRK.B, $SCHW, $CTSH, $EA, $MSI, $ODFL)</li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1570807813238" target="_blank">Weitz Value Fund</a></li></ul></div><br /><span style="font-size: large;">1st Quarter 2019</span><br /><br /><div><ul><li><a href="https://gallery.mailchimp.com/b5aa12c5c889b46c0f8288f6d/files/a791ca4e-e5b2-4a25-b606-0d1d6c95f384/Alluvial_Capital_Management_Q1_2019_Letter_to_Partners_04.22.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $APTL, $IEHC, $HICKA)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7b8f29e3a8d0001860027/1556592883034/Q1+2019+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL - $PAYS, $JYNT, $RMBL, $STKS). <a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7baa5eb39310fecbc7bdf/1556593318315/Alta+Fox+STKS+Long+4.28.19.pdf" target="_blank">Full Pitch</a> on $STKS)</li><li><a href="https://www.dropbox.com/s/rax170rmix70bir/Andvari-2019q1-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($UPLD, $TLRA, $WDAY, $V, $MA, $TYL, $MKL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/05/2019-APPLX-semi-annual-letter.pdf" target="_blank">Appleseed Fund</a> - ($SKM, $ERJ)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($AXE, $KMX, $ZBRA)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/680d1b4b-376f-4a4a-9324-af9ff3abe4dd/Arquitos_Investor_Letter_Q1_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2019-partner-letter-wy9TLMel" target="_blank">Artko Capital</a> - ($REPH, $NRCGW, $GAIA, $EEI, $LEAF)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%203.31.19.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $SSNC, $IRDM, $ANSS, $NEOG)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $H, $IRDM, $GWRE, $TSLA, $BNFT, $CHH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%203.31.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($TTD, $TDG, $FND, $GWRE, $HUD, $OEC, $PRTY, $BJRI, $CCC, $OSW, $CCX.U)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAM, $SSTK,$VRNT, $MIK, $QUOT, $MG, $BV)</li><li><a href="https://bluehawkinvestors.com/q1-2019-investor-letter/" target="_blank">Bluehawk Investors</a> - ($MTCH, $FND)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-1q19-quarterly-letter" target="_blank">Bireme Capital</a> - ($AAPL, $BKNG)</li><li><a href="https://browncapital.com/system/files/scf1q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf1q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief1q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/05/2019-Q1-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $USX)</li><li><a href="https://drive.google.com/file/d/1YUpNRWvSGBBLMymAbEXUoOCqFON2ENEJ/view">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ca171d41905f4c611b9202c/1554084308682/2019Q1letter.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SHMZF, $APH, $FRRVY, $FRRVF, $DHR, BAM, $SAPIF)</li><li><a href="https://www.nsx.com.au/ftp/news/021736732.PDF" target="_blank">East 72 Holdings</a> - ($ING, $MKL, $Y)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2019/" target="_blank">Ensemble Fund</a> - ($LSTR, $GOOG, $GOOGL)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($BDRBF, $KRA)</li><li><a href="https://t.co/YPShTxBhfj" target="_blank">Ewing Morris</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-2019-q1.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-03.pdf?sfvrsn=6" target="_blank">FPA Capital Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5cc366e74442bb0001c72482/1556309735923/Greenhaven+Letter+%282019+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $APPS, $KKR, $ETSY, $SHSP, $BOX, $EVI, $FCAU, $CSSE)</li><li><a href="https://www.docdroid.net/H7KPSVZ/greenlight-capital-q1-2019.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.05.23-Q1-Letter-Building-Gamma.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-1Q19-Report.pdf" target="_blank">Harding Loevner Global Small Cap Equities</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-1Q19-Report.pdf" target="_blank">Harding Loevner Global Equities</a> - ($KHC, $NSRGY, $LYFT, $WBC, $VRTX)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($BRY, $ARAY, $NWPX, $CCS, $FSLR)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q1.pdf?utm_source=Hayden+Capital&utm_campaign=fc6ae8918e-EMAIL_CAMPAIGN_2019_05_12&utm_medium=email&utm_term=0_aae4c81ce6-fc6ae8918e-103558831" target="_blank">Hayden Capital</a> - ($SE, $ZLPSF)</li><li><a href="http://www.horancm.com/sites/default/files/users/horancm/Portfolio%20Activity%201Q2019.pdf" target="_blank">Horan Capital Management</a> - ($MTN, $ATVI, $BKNG, $AAPL, $THO, $TCEHY, $GOOG, $FB)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($K, $PEP, $NFLX, $AMZN, $TPL)</li><li><a href="https://jdpcap.com/wp-content/uploads/2019/05/1Q-2019-Presentation-.pdf" target="_blank">JDP Capital Management</a> - ($XPO, $TK, $SPOT)</li><li><a href="https://www.docdroid.net/3VOAy5K/laughing-water-capital-q1-2019.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/1brj1hqavl9r08n/Lightsail%201Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a> - ($DRTTF)</li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5caf96756e9a7f50f6f03ec5/1555011190189/1Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $EVI, $CTEK)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/1Q19-Longleaf-Partners-Commentary.pdf" target="_blank">Longleaf Partners Fund</a> - ($GE, $MAT, $WYNN, $CTL, $HCMLY, $CHKGF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5cbdecde53450adb9a30dde5/1555950815790/Maran+Partners+Fund+LP+2019+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5cb5d9ccf9619acd0cf39f4e/1555421645754/Massif+Capital+First+Qtr+2019+Letter+to+Investors.pdf" target="_blank">Massif Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_b0cee1afd831423facf7f964eeada115.pdf" target="_blank">Merion Road Capital</a> - ($FCPT, $SLGG)</li><li><a href="https://www.docdroid.net/ostq4If/2019-q1-midwood-q1-2019-investor-letter.pdf" target="_blank">Midwood Capital Partners</a> - ($NXST, $DRTTF, $RCM, $LMB, $REPH)</li><li><a href="https://millervalue.com/bill-miller-1q-2019-market-letter/?dtr" target="_blank">Miller Value Partners</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q1-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($HD)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0319.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://assets.pershingsquareholdings.com/2019/05/17082807/Pershing-Square-Holdings-Ltd.-Q1-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a> - ($ADP, $QSR, $LOW, $SBUX, $HLT, $UTX, $HHC, $FNMA, $FMCC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q12019-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($GRUB)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/24185410-368c-44bd-a930-4a9d92e88bf9/SIF_2019_04_20_Investor_Letter.pdf" target="_blank">Saber Capital Management</a> - ($AAPL. $FB, $TCEHY)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_28dd8002fdf344a382a093d989c5b0f5.pdf" target="_blank">Saga Partners</a> - ($TRUP)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_21e9c90b285a4116ae4312cc1bb1bdbd.pdf" target="_blank">Spree Capital</a> - ($ROKU, $FTDR, $EBAY, $ALRM, $ZAYO)</li><li><a href="https://www.docdroid.net/QBav0xn/summers-value-partners-1q19-investor-letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $CVET, $SLGD, $ELAN, $KHTRF)</li><li><a href="https://mailchi.mp/ltfunds/templeton-and-phillips-investment-commentary-1q19-india" target="_blank">Templeton and Phillips Capital Management</a> - ($FFXDF, $HDB)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5cdd1d38e79c70fa76c315b2/1557994809354/Tollymore+letter+May+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRIP, $SE)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAREX-1Q19-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($INTU.L, $NWHM, $JBGS)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TASCX-1Q19-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($AGX)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAVFX-1Q19-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCC, $TDW, $EXP, $MHK)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5cb8894071c10b5b67e05353/1555597643395/Upslope+-+2019Q1+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($ATR, $YETI, $BLD)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1557519727747" target="_blank">Weitz Investment</a><span id="goog_1812407177"></span><a href="https://www.blogger.com/"></a><span id="goog_1812407178"></span> - <a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/Analyst%20Corner_CarMax.pdf?1557519727747" target="_blank">An Introduction to CarMax, Inc.</a> - $KMX</li></ul></div><br /><br /><span style="font-size: large;">4th Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5c509321f950b7176a5db508/1548784418298/Q4+2018+Alta+Fox+Capital+Quarterly+Letter+Final.docx.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/01/Alluvial_Capital_Management_Q4_2018_Letter_to_Partners_01.24.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $MMAC, $RAMPF, $AMNF)</li><li><a href="https://www.dropbox.com/s/53g8vs2pt3cpv4o/Andvari-2018q4-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MA, $TYL)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/" target="_blank">Ariel Funds</a> - ($ATGE, $AMG, $KN)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/9d0f05b1-9864-4bfe-84ff-d97cd237714e/Arquitos_Investor_Letter_Q4_2018.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2018-partner-letter-wnLTNPM6" target="_blank">Artko Capital</a> - ($JYNT, $SMED, $AFCN, $USAT, $PRIXQ, $SPAR)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%2012.31.18_3.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_12_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($HRC, $TRS, $CLH, $SSTK, $CMP, $CTLT, $EPAY, $MEDP, $ELY, $MIK, $MG, $SRCL)</li><li><a href="https://choice-equities.com/wp-content/uploads/2019/02/2018-Q4-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $DEST, $UA, $CMG)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5c2ca3e0aa4a995f08caea24/1546429409931/FY2018.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($BAM, $PTC, $SIRI, $PYPL, $HEI)</li><li><a href="http://east72.com.au/wp-content/uploads/2019/01/E72-Quarterly-Report-Dec-2018.pdf" target="_blank">East 72 Holdings</a> - ($AER, $EXXRF, $VIRT)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2018/" target="_blank">Ensemble Fund</a> - ($SCHW, $ST)</li><li><a href="https://www.evansandpartners.com.au/sites/default/files/InternationalFundQuarterly_December2018.pdf" target="_blank">Evans and Partners International Fund</a> - ($SKFOF, $RELX, $MMM, $GOOG, $V, $ADDYY, $AON)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/fpa-capital-fund-annual-report_03-31-19_web-ready.pdf?sfvrsn=4" target="_blank">FPA Capital Fund - Annual Report</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/crescent-fund-annual-report-web-ready-(12-31-18).pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2018.pdf" target="_blank">Fundsmith Equity Funds</a> - ($PM, $FB, $SBUX, $MSFT) - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="http://www.goodwoodfunds.com/wp-content/uploads/Goodwood-Annual-Report-2018.pdf" target="_blank">Goodwood Funds</a> - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5c4bc50842bfc120277fb927/1548469513395/Greenhaven+2018+Q4+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $KKR, $YELP, $BOX)</li><li><a href="https://drive.google.com/file/d/1W8cHASX6-hodil8f2KsnZdbWwkERXCjw/view" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.01.15-Q4-2018-Letter-vFinal.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q4.pdf" target="_blank">Hayden Capital</a> - ($MPNGF, $CVNA, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS, $NWPX, $ARAY)</li><li><a href="https://static1.squarespace.com/static/59a07c7b7131a5b68981e4d5/t/5cc7c1aaf56535000156ba28/1556595115918/Lightsail+2Q+2018+Letter.pdf" target="_blank">Lightsail Capital management</a> - ($DRTTF)</li><li><a href="https://www.valuewalk.com/2019/02/mittleman-brothers-4q18-clear-media/" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/1TmrJPz9OlvLmGBSiADH7ggUOs544pllr/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/01/Nelson-Roberts-2018-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ZTS)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_1218.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/2018-year-end-investment-commentary-easy-come-easy-go/" target="_blank">RGA Investment Advisors</a> - ($ROKU, $CGNX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/Co-Investor_Letter_2018-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_ae6d4d06c60344d8b7971326501d9b65.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LGIH, $FB)</li><li><a href="https://drive.google.com/file/d/1YKnOvM33MFTIEO_rnU9ZmOBQczTSqLd0/view" target="_blank">Sebids Capital</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAREX-4Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($DLN.L, $WY, $ZION, $PNC Warrants)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TASCX-4Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CUBI, $MYRG, $ATNI)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAVFX-4Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($DWDP, $DDAIF, $ANFGF)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5c3cb0b540ec9ab9b9fd10f0/1547481270127/Tollymore+letter+December+2018.pdf" target="_blank">Tollymore Investment Partners</a> - ($UHAL, $GYM.LN, $ITEGY, $TRIP, $TRUP)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5c38b8cb4fa51a28ba9f70a0/1547221197096/Upslope+-+2018Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($EVR, $BLD, $JE.LN, $DLTR, $KWR, $YETI, $MKTX, $TSLA)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global</a></li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/4Q18_Value%20Matters.pdf?1557519727747" target="_blank">Weitz Investment</a></li><li><a href="http://wiedowercapital.com/files/Letter2018.pdf" target="_blank">Wiedower Capital</a> - ($TRUP, $JD, $ISDR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/33abc1df-abe9-49a8-aef3-cc6058c2948d/WOSF_Partner_Letter_January_22_2019.pdf" target="_blank">Willow Oak Select Fund</a> - ($BEL)</li></ul><br /><br /><div><span style="font-size: large;">3rd Quarter 2018</span></div><br /><div style="font-family: "times new roman"; margin: 0px;"><div style="font-family: "Times New Roman";"><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5bc79a54eef1a1e334de4634/1539807830450/Q3+2018+Alta+Fox+Capital+Quarterly+Letter+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($XPEL, $TPNL, $UWN)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q3-2018-Letter-to-Partners-10.29.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $OTEL, $MMAC, $CTRA, $BXC, $RAMPF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-3q-2018-partner-letter-X34TP2Oe" target="_blank">Artko Capital</a> - ($TWNKW, $RSSS)</li><li><a href="https://www.baronfunds.com/sites/default/files/Quarterly%20Report%209.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $SSTK, $MIK, $PLOW, $GNTX, $OI, $APAM, $QUOT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/11/2018-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($LAWS, $BECN, $BXC, $YELP, $DEST)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5bb318fa15fcc0a9cd511971/1538463995185/2018Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FTV, $FERGY, $CCF, $ROP, $FRC, $AMADY, $CMCSA, $SIRI, $AON)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2018/" target="_blank">Ensemble Fund</a> - ($TRUP, $BKNG)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5be1e3a60e2e72c05e5cdd4b/1541530534947/Greenhaven+Road+-+2018+Q3+Final_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $TRIP, $YELP, $EVI, $BOX)</li><li><a href="https://www.docdroid.net/MfMnIs3/greenlight-capital-q3-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.10.10-Q3-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TRIP, $TI)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q3.pdf" target="_blank">Hayden Capital</a> - ($MKL, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TLRY, $BRY, $SRCI, $AXAS, $CCS)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/3Q18-Longleaf-Partners-Funds-Shareholder-Letter.pdf" target="_blank">Longleaf Partners Fund</a> - ($CTL, $BEL, $OCINF)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0918.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/U.S.%20Small%20Company%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/q32018-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($PYPL, $WBA)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_890d215dee47497ba91e2a46ad7aa95a.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAREX-3Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($BKG.L, $JBGS, $CHKGF)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/11/TASCX-3Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $ASIX, $MYRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAVFX-3Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($TDW, $CHKGF, $BZZFF, $DB)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5bc894958165f5a62a1e5c6a/1539871893976/Upslope+-+2018Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($CWH, $TSLA, $MKTX)</li></ul></div></div><div style="font-family: "times new roman"; margin: 0px;"><br /></div><br /><span style="font-size: large;">2nd Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5b57bd2988251bd8777d5ee0/1532476738546/Q2+2018+Alta+Fox+Capital+Quarterly+Letter.docx.pdf" target="_blank">Alta Fox Capital Management</a> - (T$PNL, $XPLT)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q2-2018-Letter-to-Partners-7.20.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $SCOO, $NUVR, $MMAC)</li><li><a href="https://www.dropbox.com/s/ga6p199nuv30j9i/Andvari-2018q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($TTD, $APPN, $TCEHY, $MKTX, $GOOG)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAKE, $TISI, $TGNA)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-2q-2018-partner-letter-wARTJpDv" target="_blank">Artko Capital</a> - ($EEI, $ROSEW/ROSEU, $WFCF, $FRD)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%206.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_6_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $KN, $OI, $APAM, $CNK, $PLOW, $MIK, $CSOD, $EXLS)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/464760b7-cb8c-4974-98ae-c9ff09e5f2c8/0718_BCM_Partner_Letter_Q2_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($KT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/08/2018-Q2-CEF-Investor-Letter_WEBSITE-PDF.pdf" target="_blank">Choice Equities Fund</a> - ($CMG, $REED, $BECN)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5b38349e2b6a280422fa91ba/1530410142957/2018Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SAPIF, $TTNDY, $MKSI, $CMCSA, $PNR, $CIGI, $BAX, $SPGI)</li><li><a href="http://east72.com.au/wp-content/uploads/2018/07/E72-Quarterly-Report-June-2018.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $UCPLF, $ELFIF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2018/" target="_blank">Ensemble Fund</a> - ($LB, $PBH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q2-letter_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://gatorcapital.com/wp-content/uploads/2018/07/20180723-GFP-2018-Q2-Letter.pdf" target="_blank">Gator Capital Management</a> - ($AMP)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5b5b790daa4a9904b4e75eb0/1532721421547/Greenhaven+%282018+Q2%29_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $YELP, $CSSE)</li><li><a href="https://www.docdroid.net/xz9WkeV/greenlight-capital-q2-2018-letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.07.18-Q2-2018-Letter-v2.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TI)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS)</li><li><a href="https://www.docdroid.net/KyxH0f8/laughing-water-capital-h118.pdf" target="_blank">Laughing Water Capital</a> - ($EZPW, $FCAU, $CDMO, $CWH, $RMNI/$RMNIW)</li><li><a href="https://www.docdroid.net/PctUQHa/maran-partners-fund-lp-2018-2q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $LOV)</li><li><a href="https://drive.google.com/file/d/1n2UY-hQd8QEPzidhsQFL2lyeBngGsdPw/view" target="_blank">MPE Capital</a></li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0618.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/US-Small-Company-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/08/Q2-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($EQIX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2018/07/Co-Investor_Letter_H1_2018-EN.pdf" target="_blank">RV Capital</a> - (AddLife, PSG Group)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_6b3f18269c334631a75ac584d4276af6.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAREX-2Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FPH, $LEN)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TASCX-2Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAVFX-2Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCTPF, $KKWFF, $BCAUY, $HA</li><li><a href="http://wiedowercapital.com/files/Letter1H18.pdf" target="_blank">Wiedower Capital</a> - ($JD)</li></ul><br /><div><br /><span style="font-size: large;">1st Quarter 2018</span><br /><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q1-2018-Letter-to-Partners-4.23.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $OTEL, $LICT, $MMAC $BXC)</li><li><a href="https://www.docdroid.net/90TaM6T/arquitos-investor-letter-q1-2018.pdf" target="_blank">Arquitos Capital Management</a> - ($SYTE, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-1q-2018-partner-letter-wPZT33Kb" target="_blank">Artko Capital</a> - ($HTM, $GAIA, $HDSN, $SKY)</li><li><a href="https://doc.morningstar.com/Document/a444b3ab802f4a0c076025c4dee1cd5a.msdoc/original?clientid=globaldocuments&key=52dbc583e1012395" target="_blank">Ariel Funds</a> - ($KEYS, $MHK, $OAK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $ELY, $EPAY, $CMP, $MIK, $MG)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2249ec23-e80d-46a8-9f65-846264852383/0418__BCM_Partner_Letter_Q1_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TI, $TOO)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ada7a78575d1f52aa6e679d/1524267640733/2018Q1.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SPGI, $CME, $CMCSA, $SPB)</li><li><a href="https://www.docdroid.net/S613L8e/1q-2018-dane-investor-letter.pdf" target="_blank">Dane Capital Management</a> - ($DSKE, $IEA, $LAZY, $LMB, $YTRA, $EVI)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2018/" target="_blank">Ensemble Fund</a> - ($NFLX, $DNOW)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q1-letter_vfinal.pdf#page=2" target="_blank">FPA Capital Fund</a> - ($WDC, $TEN, $ALGT)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q1-2018-vfinal.pdf#page=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ae7bf98f950b7272142f5c2/1525137305236/Greenhaven+2018+Q1+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $BXC)</li><li><a href="https://www.docdroid.net/K95Fju3/greenlight-capital-q1-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.05.11-Q1-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $RYCEY, $VIVHY)</li><li><a href="https://www.docdroid.net/81jd56q/laughing-water-capital-q1-2018.pdf" target="_blank">Laughing Water Capital</a> - ($BXC, $OCN, $TRC, $GHL, $ITI, $GAIA)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Documents/1Q18-Longleaf-Partners-Quarterly-Summary-Report-All-Funds.pdf" target="_blank">Longleaf Partners</a></li><li><a href="https://www.docdroid.net/eFTaTcE/maran-partners-fund-lp-2018-1q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $IAC, $ATTO)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0318.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/05/Q1-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($DIS, $RAMP)</li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q18.pdf" target="_blank">RiverPark Large Growth Fund</a></li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rpfvf/commentary/RiverPark_Focused_Value_1Q18_SH_Letter.pdf" target="_blank">RiverPark Focused Value Fund</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_64caf8ca6a264972923df8b202415b9a.pdf" target="_blank">Saga Partners</a> - ($ESI, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAREX-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($AKR, $SRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TASCX-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($FRPH, $WEDXF. $SMHI)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAVFX-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BDRLF, $KKWFF, $BMWYY)</li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2018/04/VVP-Quarterly-Commentary-18.03.31.pdf" target="_blank">Vulcan Value Partners</a></li></ul></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-26866434233077795242023-01-24T16:08:00.135-05:002023-03-16T17:17:59.723-04:00Full List of Investment Letters<script async="" crossorigin="anonymous" src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-1039680221405690"></script>
<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">4th Quarter 2022</span>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2023/01/STJIC-Adviser-Letter-2022-Q4.pdf">St. James Investment Company </a></td><td width="14%">1/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_73_en.pdf">Vltava Fund</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/ARW " target="_blank">ARW </a><a href="https://roic.ai/company/GOOG" target="_blank">GOOG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/63b601b8597b413059e65e27/1672872376450/Q42022.pdf">Comus Investments</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2023/01/QUARTERLY-REPORT-Dec-2022-WEB.pdf">East72 Holdings</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/MFG.AX" target="_blank">MFG.AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_fe019478d5bd467ba615a8f521fbfa18.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://concentratedcompounding.substack.com/p/2022-annual-letter">Concentrated Compounding*</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/TDG " target="_blank">TDG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/RADI " target="_blank">RADI </a><a href="https://roic.ai/company/CHTR" target="_blank">CHTR</a><a href="https://roic.ai/company/CHTR" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_888ee89906e54813afeebb4b26163507.pdf">Palm Valley Capital Fund</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/2022-q4-letter/">Moon Capital</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/DVA " target="_blank">DVA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-2022-year-end-letter">Rowan Street Capital</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://novelinvestor.com/2022-a-year-in-returns/">Novel Investor</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_c50ba975f9df4cab94d949c13bf05897.pdf">Merion Road Capital</a></td><td width="14%">1/16/2023</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/CPRT " target="_blank">CPRT </a><a href="https://roic.ai/company/MWA " target="_blank">MWA </a><a href="https://roic.ai/company/WHG " target="_blank">WHG </a><a href="https://roic.ai/company/MHH " target="_blank">MHH </a><a href="https://roic.ai/company/UBAB" target="_blank">UBAB</a><a href="https://roic.ai/company/UBAB" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fairlightcapital.com/_files/ugd/a6cb30_4b516623824544d2b3f9a075da1358e5.pdf">Fairlight Alpha Fund LP</a></td><td width="14%">1/17/2023</td><td width="39%"><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/OPRA" target="_blank">OPRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_b5e09c9e75554a4ebe50235180d1f940.pdf">Old West Capital Management</a></td><td width="14%">1/17/2023</td><td width="39%"><a href="https://roic.ai/company/AEM " target="_blank">AEM </a><a href="https://roic.ai/company/GOLD " target="_blank">GOLD </a><a href="https://roic.ai/company/NG " target="_blank">NG </a><a href="https://roic.ai/company/SA " target="_blank">SA </a><a href="https://roic.ai/company/WDO.TO " target="_blank">WDO.TO </a><a href="https://roic.ai/company/MAI.V" target="_blank">MAI.V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1q-T-iXlixliNHaMe3HyJNnzCCzd3_yzy/view">Greenlight Capital</a></td><td width="14%">1/17/2023</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/DNMR " target="_blank">DNMR </a><a href="https://roic.ai/company/CEIX " target="_blank">CEIX </a><a href="https://roic.ai/company/TECK " target="_blank">TECK </a><a href="https://roic.ai/company/THC" target="_blank">THC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20221231.pdf">FMI All Cap Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20221231.pdf">FMI International Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20221231.pdf">FMI Large Cap Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20221231.pdf">FMI Small Cap Equity</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2023/01/Akre-Focus-Fund-Quarterly-Commentary-2022-Q4.pdf#page=1">Akre Focus Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/CVX" target="_blank">CVX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/CLVT" target="_blank">CLVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/SMG " target="_blank">SMG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2023/01/L1-Capital-International-December-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="14%">1/19/2023</td><td width="39%"><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/CABO " target="_blank">CABO </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/RNR" target="_blank">RNR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/AJRD " target="_blank">AJRD </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/PRMW" target="_blank">PRMW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/POWL " target="_blank">POWL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3177">Miller/Howard Investments</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2023/01/Q4-2022-Letter.pdf">Distillate Capital</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/fourth-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/MASI " target="_blank">MASI </a><a href="https://roic.ai/company/PAYX" target="_blank">PAYX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1Hx6Xr-tM9Mx3JIMPUxYayyELiAXyniTs/view">Tidefall Capital Management</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/FFXDF" target="_blank">FFXDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lvsadvisory.com/wp-content/uploads/2023/01/LVS-Advisory-Letter-Q4-2022.pdf">LVS Advisory</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/BJ " target="_blank">BJ </a><a href="https://roic.ai/company/BLK " target="_blank">BLK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://marvistainvestments.com/wp-content/uploads/2023/01/MVSGF-Annual-f.pdf">Mar Vista Strategic Growth Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2023/01/4Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/8833525b-02a0-40e1-9695-9a9cd1a399f9.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q4NP.pdf">Hoisington Investment Management</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2023_01_13.pdf">Myrmikan Research</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="14%">1/20/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/4q2022-commentary">Whitebrook Capital Partners </a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/GBX " target="_blank">GBX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/xiexie/">Miller Income Strategy</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/BKE " target="_blank">BKE </a><a href="https://roic.ai/company/HEI.DE " target="_blank">HEI.DE </a><a href="https://roic.ai/company/VTRS " target="_blank">VTRS </a><a href="https://roic.ai/company/RILY" target="_blank">RILY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/opportunity-equity-4q2022-commentary/">Miller Opportunity Equity</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2023/01/CSCAX_2022-12-31_Shareholder_Letter.final_.pdf">Cove Street Capital</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/LFCR " target="_blank">LFCR </a><a href="https://roic.ai/company/IEHC " target="_blank">IEHC </a><a href="https://roic.ai/company/LTRPA " target="_blank">LTRPA </a><a href="https://roic.ai/company/HRG " target="_blank">HRG </a><a href="https://roic.ai/company/CLMB " target="_blank">CLMB </a><a href="https://roic.ai/company/VMD " target="_blank">VMD </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/IAC " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/63c824e82a86e2382f1aa168/1674061033668/Upslope+-+2022Q4+Letter.pdf">Upslope Capital Management</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/ATS.TO " target="_blank">ATS.TO </a><a href="https://roic.ai/company/BOKF " target="_blank">BOKF </a><a href="https://roic.ai/company/GLT " target="_blank">GLT </a><a href="https://roic.ai/company/EMG.L" target="_blank">EMG.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1doYYSAqWjmIRwcA4eDFOLstWR-MRohbM/view">Tourlite Capital Management</a></td><td width="14%">1/23/2023</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/PRM " target="_blank">PRM </a><a href="https://roic.ai/company/VRRM" target="_blank">VRRM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/63ccf8a1a226f819f483af77/1674377377319/2022+Q4.pdf">Blue Tower Asset Management</a></td><td width="14%">1/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/HLN " target="_blank">HLN </a><a href="https://roic.ai/company/TKELY" target="_blank">TKELY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/63d1d8d183cf42640381af79/1674696913242/GCAM+2022+Q4+Letter.pdf">Giverny Capital Asset Management</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/PGR " target="_blank">PGR </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/COHR " target="_blank">COHR </a><a href="https://roic.ai/company/ERFSF " target="_blank">ERFSF </a><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/ANET " target="_blank">ANET </a><a href="https://roic.ai/company/ANET " target="_blank">GOOG </a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2022.pdf">L1 Capital Long Short Fund</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-12.31.22.pdf">Baron Health Care Fund</a></td><td width="14%">1/26/2023</td><td width="39%"><a href="https://roic.ai/company/CI " target="_blank">CI </a><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/OPCH " target="_blank">OPCH </a><a href="https://roic.ai/company/MRNA " target="_blank">MRNA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/63d197a2ce28fd77bcc26e1c/1674680226625/Nordstern+Capital+4Q2022+partnership+memo.pdf">Nordstern Capital</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-12.31.22.pdf">Baron Real Estate Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/TOL " target="_blank">TOL </a><a href="https://roic.ai/company/LEN " target="_blank">LEN </a><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/SHW " target="_blank">SHW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=638101946440000000">Weitz Hickory Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638101946440000000">Weitz Partners III Opportunity Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638101946440000000">Weitz Partners Value Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638101946440000000">Weitz Value Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202212/Commentary-Small-Cap-Fund-2022-12-31.pdf?c=638102647540000000">Diamond Hill Small Cap Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/GHC " target="_blank">GHC </a><a href="https://roic.ai/company/FTAI " target="_blank">FTAI </a><a href="https://roic.ai/company/GTES " target="_blank">GTES </a><a href="https://roic.ai/company/ODC" target="_blank">ODC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q4.pdf">Alphyn Capital Management</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/WANSF " target="_blank">WANSF </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/ALVO " target="_blank">ALVO </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/BAM " target="_blank">W</a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/63cae1d5aa9fb46a85ae910e/1674240470057/2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/MGAG " target="_blank">MGAG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/raymond-james-investment-management/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/63cfc4a0af00443cc82de164/1674560672628/Q4%2722+letter.pdf">1 Main Capital Partners</a></td><td width="14%">1/27/2023</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/deep-value-4q-2022-letter/">Miller Deep Value</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/TUP " target="_blank">TUP </a><a href="https://roic.ai/company/MHO " target="_blank">MHO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitefalconcap.com/_files/ugd/2e6ec1_7e624046f21548888a3ecaf044b00e69.pdf">White Falcon Capital Management</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/AMD" target="_blank">AMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2022/">Oakmark Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/MGA " target="_blank">MGA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2022/">Oakmark Global Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/STJ.L" target="_blank">STJ.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2022/">Oakmark Global Select Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/COF" target="_blank">COF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-fourth-quarter-2022/">Oakmark International Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/AKZOY " target="_blank">AKZOY </a><a href="https://roic.ai/company/SDVKY " target="_blank">SDVKY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-fourth-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/KNCRY " target="_blank">KNCRY </a><a href="https://roic.ai/company/TOWR.JK " target="_blank">TOWR.JK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2022/">Oakmark Select Fund</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/ORCL " target="_blank">ORCL </a><a href="https://roic.ai/company/ICE" target="_blank">ICE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_e6373377fc8c4196920f4efbcca7a7b7.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/GIL " target="_blank">GIL </a><a href="https://roic.ai/company/SHOO" target="_blank">SHOO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/2022%20Q4%20Letter%20-%20Approved.pdf">Praetorian Capital </a></td><td width="14%">1/30/2023</td><td width="39%"><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcvalueblog.files.wordpress.com/2023/01/mcintyre-partnerships-q4-2022-letter-publishing.pdf?force_download=true">McIntyre Partnerships</a></td><td width="14%">1/31/2023</td><td width="39%"><a href="https://roic.ai/company/SHC " target="_blank">SHC </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/wp-content/uploads/2023/01/Andvari-2022q4-letter.pdf">Andvari Associates</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/CPRT " target="_blank">CPRT </a><a href="https://roic.ai/company/CSGP " target="_blank">CSGP </a><a href="https://roic.ai/company/DBRG " target="_blank">DBRG </a><a href="https://roic.ai/company/MLAB " target="_blank">MLAB </a><a href="https://roic.ai/company/SPGI " target="_blank">SPGI </a><a href="https://roic.ai/company/SPGI " target="_blank">TYL</a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/63d33583c261f420b34ac709/1674786182483/4Q22+letter+final.pdf">Long Cast Advisers </a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/ENVX " target="_blank">ENVX </a><a href="https://roic.ai/company/RSSS" target="_blank">RSSS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/63da6e12308d0f3b2f039126/1675259411073/Q4+2022+Letter.pdf">Curreen Capital</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/ASAI.ST " target="_blank">ASAI.ST </a><a href="https://roic.ai/company/WIX.L" target="_blank">WIX.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ip-capitalpartners.com/reports/jan2023/#idc-9">IP-Capital Partners</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/63d47310894c822d74c8efc8/1674867472947/Q4+2022+NZS+Letter.pdf">NZS Capital</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/TDG " target="_blank">TDG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/DDOG" target="_blank">DDOG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vgipartners.com/wp-content/uploads/2023/01/VG1-2023-01-31_Investor-Letter-Year-to-December-2022-1.pdf">VGI Partners Global Investments</a></td><td width="14%">2/01/2023</td><td width="39%"><a href="https://roic.ai/company/CME " target="_blank">CME </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DBOEY " target="_blank">DBOEY </a><a href="https://roic.ai/company/CFRUY " target="_blank">CFRUY </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/DIS " target="_blank">DIS </a><a href="https://roic.ai/company/RNMBY " target="_blank">RNMBY </a><a href="https://roic.ai/company/RNMBY " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://gatorcapital.com/wp-content/uploads/2023/01/20230124-GFP-2022-Year-End-Letter.pdf">Gator Capital Management</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/CG " target="_blank">CG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.legacyridgecapital.com/wp-content/uploads/2023/01/LRCM-2022-Letter.pdf">Legacy Ridge Capital Management</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/EPD " target="_blank">EPD </a><a href="https://roic.ai/company/NRG " target="_blank">NRG </a><a href="https://roic.ai/company/VST " target="_blank">VST </a><a href="https://roic.ai/company/DCP " target="_blank">DCP </a><a href="https://roic.ai/company/SMLP " target="_blank">SMLP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/63d9cd83dd3e94195b8bcabb/1675218307153/Maran+Partners+Fund+LP+2022+4Q+Letter.pdf">Maran Capital Management</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/CLAR " target="_blank">CLAR </a><a href="https://roic.ai/company/CTT.LS " target="_blank">CTT.LS </a><a href="https://roic.ai/company/VTY.L " target="_blank">VTY.L </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/63db08bc72bc814cc05fb5e4/1675299004295/2022+Investor+Letter.pdf">Worm Capital</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-12.31.22.pdf">Baron Asset Fund</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/ICLR" target="_blank">ICLR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=4Q2022">Ave Maria Funds</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/NJDCY " target="_blank">NJDCY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2023/02/VVP-Annual-Letter-22.12.31.pdf">Vulcan Value Partners</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary.pdf">Polen Capital - Focus Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary.pdf">Polen Capital - Global Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/TMO " target="_blank">TMO </a><a href="https://roic.ai/company/NOW " target="_blank">NOW </a><a href="https://roic.ai/company/EL " target="_blank">EL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary.pdf">Polen Capital - Global SMID Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary.pdf">Polen Capital - International Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/HDB " target="_blank">HDB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary.pdf">Polen Capital - International Small Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/TOI.V " target="_blank">TOI.V </a><a href="https://roic.ai/company/ERF.PA" target="_blank">ERF.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary.pdf">Polen Capital - U.S. SMID Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/OLPX" target="_blank">OLPX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="14%">2/02/2023</td><td width="39%"><a href="https://roic.ai/company/SITM " target="_blank">SITM </a><a href="https://roic.ai/company/OLPX " target="_blank">OLPX </a><a href="https://roic.ai/company/RH" target="_blank">RH</a><a href="https://roic.ai/company/CCCS " target="_blank">CCCS </a><a href="https://roic.ai/company/FSV" target="_blank">FSV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2023/01/Alluvial-Capital-Management-Q4-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/APR.WA " target="_blank">APR.WA </a><a href="https://roic.ai/company/JOB " target="_blank">JOB </a><a href="https://roic.ai/company/RVIC " target="_blank">RVIC </a><a href="https://roic.ai/company/FTLF " target="_blank">FTLF </a><a href="https://roic.ai/company/SXP.TO" target="_blank">SXP.TO</a><a href="https://roic.ai/company/SXP.TO" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/3fff1ea9d792aab7f6dffe0ab/files/b8d66142-70b7-62da-891b-ffa88af747a3/Sohra_Peak_Capital_Partners_Letter_to_Partners_Q4_2022.01.pdf">Sohra Peak Capital Partners</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-partners-fund-commentary/">Longleaf Partners Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/CNX " target="_blank">CNX </a><a href="https://roic.ai/company/AMG " target="_blank">AMG </a><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/WBD " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-global-fund-commentary/">Longleaf Partners Global Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-international-commentary/">Longleaf Partners International Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q22-small-cap-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/WEST " target="_blank">WEST </a><a href="https://roic.ai/company/MSGS " target="_blank">MSGS </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/commentary/q4-2022-investment-commentary-trends-to-consider-and-lessons-learned/">RGA Investment Advisors</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_c7c08886d89d4cf89bb65db91e98e16e.pdf">Arch Capital Fund</a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q4.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="14%">2/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2023/02/DKAM-ROE-Reporter-January-2023-Final.pdf">Donville Kent Asset Management</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/RET.V" target="_blank">RET.V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/DDOG " target="_blank">DDOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/PODD " target="_blank">PODD </a><a href="https://roic.ai/company/XPO " target="_blank">XPO </a><a href="https://roic.ai/company/COUP " target="_blank">COUP </a><a href="https://roic.ai/company/CRWD " target="_blank">CRWD </a><a href="https://roic.ai/company/RXO " target="_blank">RXO </a><a href="https://roic.ai/company/GNRC " target="_blank">GNRC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_4Q_2022.pdf">Saltlight Capital </a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/RBLX " target="_blank">RBLX </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/TCEHY " target="_blank">TCEHY </a><a href="https://roic.ai/company/BAT.JO" target="_blank">BAT.JO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_79fa4050d7784ca2b9e622c574c9abb1.pdf">Greystone Capital Management</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/GFF " target="_blank">GFF </a><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/IDT " target="_blank">IDT </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/POL " target="_blank">POL </a><a href="https://roic.ai/company/POL " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lyricalam.com/wp-content/uploads/dlm_uploads/2023/01/LAM-2022-U.S.-Review-letter.pdf">Lyrical Asset Management</a></td><td width="14%">2/06/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q22.pdf">Horos Funds</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/BIDU " target="_blank">BIDU </a><a href="https://roic.ai/company/ALD.PA " target="_blank">ALD.PA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2023/01/PzenaNewsletter-Commentary-4Q22-1.pdf">Pzena Investment Management</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2022-q4.pdf?sfvrsn=a3f8909d_6">FPA Crescent Fund</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2022-q4.pdf?sfvrsn=8cfc909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/SJI " target="_blank">SJI </a><a href="https://roic.ai/company/RLI " target="_blank">RLI </a><a href="https://roic.ai/company/FN " target="_blank">FN </a><a href="https://roic.ai/company/AEL " target="_blank">AEL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-q4.pdf?sfvrsn=95029f9d_6">FPA U.S. Core Equity Fund</a></td><td width="14%">2/07/2023</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DECK" target="_blank">DECK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20221231.pdf">Rondure Global</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2023/01/2022-Q4-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/CROX" target="_blank">CROX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/74a703a9-1e11-2b30-db6e-c2815a46b811/SilverRingValuePartners_2022Q4_Letter.pdf">Silver Ring Value Partners</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/FRII.TO " target="_blank">FRII.TO </a><a href="https://roic.ai/company/WINE.L " target="_blank">WINE.L </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2023/02/bumbershoot-holdings-e28094-2023-2-feb-e28094-letter-to-partners-e28094-2022.pdf">Bumbershoot Holdings</a></td><td width="14%">2/09/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/CHX " target="_blank">CHX </a><a href="https://roic.ai/company/INSP " target="_blank">INSP </a><a href="https://roic.ai/company/RXDX " target="_blank">RXDX </a><a href="https://roic.ai/company/XMTR " target="_blank">XMTR </a><a href="https://roic.ai/company/CYRX " target="_blank">CYRX </a><a href="https://roic.ai/company/SWAV" target="_blank">SWAV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/35d8bd09-7f9e-ae4b-c8ff-b0565d5b55c7/Fourth_Quarter_2022_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-12.31.22.pdf">Baron Opportunity Fund</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTTX-APDTX-APHTX-QCommentary-4Q22-vR.pdf">Artisan Focus Fund</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/63dffd210f60c8044b4ceeb4/1675623722432/Greenhaven+Road+-+2022+Q4+-+Final-.pdf">Greenhaven Road Capital</a></td><td width="14%">2/12/2023</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/PAT.DE " target="_blank">PAT.DE </a><a href="https://roic.ai/company/CLAR" target="_blank">CLAR</a><a href="https://roic.ai/company/CLAR" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://a.storyblok.com/f/166217/x/c179ba3ef3/third-point-q4-2022-investor-letter-tpil.pdf">Third Point Offshore Fund</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/AIG " target="_blank">AIG </a><a href="https://roic.ai/company/BBWI " target="_blank">BBWI </a><a href="https://roic.ai/company/CL " target="_blank">CL </a><a href="https://roic.ai/company/DD " target="_blank">DD </a><a href="https://roic.ai/company/PCG " target="_blank">PCG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/rubbing-my-nose-in-it">Mindset Value Fund</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/GLASF " target="_blank">GLASF </a><a href="https://roic.ai/company/ARA.MX" target="_blank">ARA.MX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/63cea6c741bdeb3f8c8d81c7/1674487496244/Laughing+Water+Capital+YE+2022.pdf">Laughing Water Capital</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/HGV " target="_blank">HGV </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/VTY.L " target="_blank">VTY.L </a><a href="https://roic.ai/company/LFCR" target="_blank">LFCR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/mispriced-inflation/">Crestcat Capital</a></td><td width="14%">2/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://docsend.com/view/mwmq48da78tdgkh6">Bonsai Partners</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2023/02/Epoch-Quarterly-Newsletter_February-2023.pdf">Epoch Investment Partners</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/APFDX-APDDX-APHDX-QCommentary-4Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/MPWR " target="_blank">MPWR </a><a href="https://roic.ai/company/2734.T" target="_blank">2734.T</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_67f9cc1047fc4d0b905d6ef6eb4b1c67.pdf">Emeth Value Capital</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/DESP" target="_blank">DESP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://srk-capital.com/content_files/2023/02/SRK_Fund_H2_2022_Letter.pdf">SRK Capital</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/HROW " target="_blank">HROW </a><a href="https://roic.ai/company/PYCFF " target="_blank">PYCFF </a><a href="https://roic.ai/company/HGBL " target="_blank">HGBL </a><a href="https://roic.ai/company/JOB " target="_blank">JOB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-12.31.22.pdf">Baron FinTech Fund</a></td><td width="14%">2/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2022-partner-letter-EdnTy8Rv">Artko Capital</a></td><td width="14%">2/17/2023</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/GAIA " target="_blank">GAIA </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/NTIC " target="_blank">PBPB </a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dea95dc8fdee044b6f12fb9/t/63dbf46300dbad51d9ee0c3e/1675359332413/Q4+and+2022+EOY+Update.pdf">MCJ Capital Partners</a></td><td width="14%">2/17/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/_files/ugd/3b0d6d_433685d4d14c4bad8e54f40609582792.pdf">Saga Partners</a></td><td width="14%">2/17/2023</td><td width="39%"><a href="https://roic.ai/company/RDFN " target="_blank">RDFN </a><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/4Q22%20-%20FV.html">Bireme Capital</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/BOIVF " target="_blank">BOIVF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-12.31.22.pdf">Baron Growth Fund</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/MSCI" target="_blank">MSCI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-12.31.22.pdf">Baron Partners Fund</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2023/02/HCM-Q4-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/ICFI" target="_blank">ICFI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="14%">2/21/2023</td><td width="39%"><a href="https://roic.ai/company/MEG " target="_blank">MEG </a><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/GKOS " target="_blank">GKOS </a><a href="https://roic.ai/company/XMTR" target="_blank">XMTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202022%20FINAL.pdf">Tweedy Browne</a></td><td width="14%">2/22/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-12.31.22.pdf">Baron Discovery Fund</a></td><td width="14%">2/23/2023</td><td width="39%"><a href="https://roic.ai/company/CDNA " target="_blank">CDNA </a><a href="https://roic.ai/company/DH " target="_blank">DH </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/QLYS " target="_blank">QLYS </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/CYBR " target="_blank">CYBR </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/PAR " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Growth-Fund-Quarterly-Letter-12.31.22.pdf">Baron Fifth Avenue Growth Fund</a></td><td width="14%">2/23/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-12.31.22_0.pdf">Baron Small Cap Fund</a></td><td width="14%">2/23/2023</td><td width="39%"><a href="https://roic.ai/company/NEOG " target="_blank">NEOG </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static.fmgsuite.com/media/documents/628dd5de-7bed-46cd-92d8-029b09a1fb15.pdf">Semper Augustus</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTMX-APDMX-APHMX-QCommentary-4Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/BSY " target="_blank">BSY </a><a href="https://roic.ai/company/HALO " target="_blank">HALO </a><a href="https://roic.ai/company/SAIA" target="_blank">SAIA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTSX-APDSX-APHSX-QCommentary-4Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/CTLT " target="_blank">CTLT </a><a href="https://roic.ai/company/SIVB " target="_blank">SIVB </a><a href="https://roic.ai/company/MKTX" target="_blank">MKTX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTKX-APDKX-APHKX-QCommentary-4Q22-vR.pdf">Artisan International Value Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/4q/ARTLX-APDLX-APHLX-QCommentary-4Q22-vR.pdf">Artisan Value Fund</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/63dd05f6c16eff311b05b8d7/1675429367339/2022.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="14%">2/24/2023</td><td width="39%"><a href="https://roic.ai/company/SMEGF " target="_blank">SMEGF </a><a href="https://roic.ai/company/ADMLF " target="_blank">ADMLF </a><a href="https://roic.ai/company/CTTZF " target="_blank">CTTZF </a><a href="https://roic.ai/company/IXRRF " target="_blank">IXRRF </a><a href="https://roic.ai/company/LAC" target="_blank">LAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://img1.wsimg.com/blobby/go/ee65fbd7-2d89-48b3-83e6-be9864c38c3b/downloads/Nitor%20Capital%20Management%202023%20Annual%20Letter.pdf?ver=1676653916023">Nitor Capital</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.righttailcapital.com/_files/ugd/9593df_65907af5b9c94afbb864699330b2b145.pdf">Right Tail Capital</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/ROST " target="_blank">ROST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/wp-content/uploads/2023/02/ArielInvestmentTrustQuarterlyReport123122.pdf">Ariel Trust Funds</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/BOKF " target="_blank">BOKF </a><a href="https://roic.ai/company/CG " target="_blank">CG </a><a href="https://roic.ai/company/ZBRA" target="_blank">ZBRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/1e163043-f15e-1f02-9f6a-e8cece7f76e4/December_2022_Investor_Letter_End_of_free_moneyvfin.pdf">Richie Capital Group</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/FICO " target="_blank">FICO </a><a href="https://roic.ai/company/PERI " target="_blank">PERI </a><a href="https://roic.ai/company/RELL" target="_blank">RELL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.brontecapital.com/amalthea/Amalthea_Letter_202212.pdf">Bronte Capital</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/HLF " target="_blank">HLF </a><a href="https://roic.ai/company/GMHLF " target="_blank">GMHLF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2022-Q4-Aikya-Letter-Public-Bank.pdf">Aikya Funds</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/PBLOF " target="_blank">PBLOF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_4Q22_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mawer.com/assets/Uploads/4Q22-Quarterly.pdf">Mawer Mutual Funds</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/RKT " target="_blank">RKT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/PNGAY " target="_blank">PNGAY </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/OC" target="_blank">OC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/PNGAY " target="_blank">PNGAY </a><a href="https://roic.ai/company/CPNG " target="_blank">CPNG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/COF " target="_blank">COF </a><a href="https://roic.ai/company/WFC " target="_blank">WFC </a><a href="https://roic.ai/company/BRK.B " target="_blank">BRK.B </a><a href="https://roic.ai/company/AMAT " target="_blank">AMAT </a><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="14%">2/26/2023</td><td width="39%"><a href="https://roic.ai/company/COF " target="_blank">COF </a><a href="https://roic.ai/company/WFC " target="_blank">WFC </a><a href="https://roic.ai/company/BRK.B " target="_blank">BRK.B </a><a href="https://roic.ai/company/AMAT " target="_blank">AMAT </a><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="Templeton+&+Phillips+-+2022+Letter+-+Public.pdf (squarespace.com)">Templeton & Phillips Capital Management</a></td><td width="14%">2/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rvcapital.ch/post/2022-letter-to-co-investors-in-business-owner?utm_campaign=ca72bd39-5c54-4309-82dd-c8ff9d204193&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="14%">2/27/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.deepsailcapital.com/_files/ugd/50dba3_1fee3e85d4804f44b1b7f4e0b0453d73.pdf">Deep Sail Capital</a></td><td width="14%">3/01/2023</td><td width="39%"><a href="https://roic.ai/company/LEAT " target="_blank">LEAT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/57eff176e58c621a298bfa61/t/63c31bd9cf3aa73258174080/1673731033092/Plural+Partners+Fund+Letter+-+2022%3AQ4.pdf">Plural Investing</a></td><td width="14%">3/02/2023</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/DRTGF " target="_blank">DRTGF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/63f66bc227a3227f4d574179/1677093827154/Kinsman+Oak+-+FY+2022+Letter+vCommentary.pdf">Kinsman Oak Equity Fund</a></td><td width="14%">3/03/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://evermoreglobal.com/media/pdfs/evermore_annual_report.pdf">Evermore Global Value Fund</a></td><td width="14%">3/03/2023</td><td width="39%"><a href="https://roic.ai/company/INW.MI " target="_blank">INW.MI </a><a href="https://roic.ai/company/HOEGF " target="_blank">HOEGF </a><a href="https://roic.ai/company/CLMT " target="_blank">CLMT </a><a href="https://roic.ai/company/AASZF " target="_blank">AASZF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/63ffdbf2cfa90630a0b07567/1677712371223/2022+Q4_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="14%">3/03/2023</td><td width="39%"><a href="https://roic.ai/company/ALTG " target="_blank">ALTG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/c2c02322-09f5-a9e7-0cc2-5c1d5994635c/030923_Bonhoeffer_Partner_Letter_Q4_2022.pdf">Bonhoeffer Capital Management</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/KT " target="_blank">KT </a><a href="https://roic.ai/company/TIIAY " target="_blank">TIIAY </a><a href="https://roic.ai/company/SSP " target="_blank">SSP </a><a href="https://roic.ai/company/GTN " target="_blank">GTN </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/BLDR " target="_blank">BLDR </a><a href="https://roic.ai/company/NICE" target="_blank">NICE</a><a href="https://roic.ai/company/NICE" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/FEM/2022/HL-FEM-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner Global Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Cos-Quarterly-Report-4Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/VAIAS.HE " target="_blank">VAIAS.HE </a><a href="https://roic.ai/company/TMRAY " target="_blank">TMRAY </a><a href="https://roic.ai/company/0QKB.L" target="_blank">0QKB.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner International Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-Intl-Small-Cos-Equity-Quarterly-Report-4Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.appleseedfund.com/wp-content/uploads/2022/12/2022-Appleseed-annual-letter.pdf">Appleseed Fund</a></td><td width="14%">3/13/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmharbourcapital.com/files/PHC_Letter_Q4_2022_FINAL_EN.pdf">Palm Harbour Capital</a></td><td width="14%">3/16/2023</td><td width="39%"><a href="https://roic.ai/company/LNA.PA" target="_blank">LNA.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fundsmith.co.uk/media/bm0lyc22/annual-letter-to-shareholders-2022.pdf">Fundsmith Equity Fund</a></td><td width="14%">3/16/2023</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href=""></a></td><td width="14%"> </td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">3rd Quarter 2022</span>
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<th>Fund Name</th>
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<th>Stocks Mentioned</th></tr>
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<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/10/STJIC-Adviser-Letter-2022-Q3.pdf">St. James Investment Company </a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_72_en.pdf">Vltava Fund</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ATD.TO " target="_blank">ATD.TO </a><a href="https://roic.ai/company/BRK-B " target="_blank">BRK-B </a><a href="https://roic.ai/company/BMW.DE " target="_blank">BMW.DE </a><a href="https://roic.ai/company/CVS " target="_blank">CVS </a><a href="https://roic.ai/company/JPM " target="_blank">JPM </a><a href="https://roic.ai/company/LMT " target="_blank">LMT </a><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/MKL " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/633c8df908400e1e6f281e9b/1664912890141/Q32022.pdf">Comus Investments</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/2022-q3-letter/">Moon Capital</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ALLY " target="_blank">ALLY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6343a480b2dc737b6247b478/1665377408612/2022+Q3.pdf">Blue Tower Asset Management</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ENVA" target="_blank">ENVA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/10/QUARTERLY-REPORT-WEB-Sept-2022.pdf">East72 Holdings</a></td><td width="14%">10/17/2022</td><td width="39%"><a href="https://roic.ai/company/MSGS " target="_blank">MSGS </a><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_0c3a777e46d8414cbd20c537775e892e.pdf">Palm Valley Capital Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/KELYA " target="_blank">KELYA </a><a href="https://roic.ai/company/MAN " target="_blank">MAN </a><a href="https://roic.ai/company/SNN " target="_blank">SNN </a><a href="https://roic.ai/company/SRM " target="_blank">SRM </a><a href="https://roic.ai/company/CRDA" target="_blank">CRDA</a><a href="https://roic.ai/company/WHGLY " target="_blank">WHGLY </a><a href="https://roic.ai/company/ODC" target="_blank">ODC</a><a href="https://roic.ai/company/ODC" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/10/3Q-2022-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/10/3Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/FIVN " target="_blank">FIVN </a><a href="https://roic.ai/company/BKNG" target="_blank">BKNG</a><a href="https://roic.ai/company/INTU " target="_blank">INTU </a><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/WDAY " target="_blank">WDAY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_3Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_3bc0278b487a4c69988e2ef2f44627ca.pdf">Old West Capital Management</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/FIL.TO " target="_blank">FIL.TO </a><a href="https://roic.ai/company/FLMMF" target="_blank">FLMMF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3162">Miller/Howard Investments</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/wp-content/uploads/2022/10/Andvari-2022q3-letter-1.pdf">Andvari Associates</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/634db41b0b7dab72e4496ebd/1666036763837/GCAM+2022+Q3+letter+.pdf">Giverny Capital Asset Management</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/63480ee00d8483044cb4a8f7/1665666784591/Q3+2022+Letter.pdf">Curreen Capital</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2022.pdf">L1 Capital Long Short Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/10/L1-Capital-International-September-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-09.30.22.pdf">Baron Health Care Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/HUM " target="_blank">HUM </a><a href="https://roic.ai/company/ALNY " target="_blank">ALNY </a><a href="https://roic.ai/company/DHR " target="_blank">DHR </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/ISRG" target="_blank">ISRG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_5f53ace924b14d07a30f8e7c99be4a78.pdf">Merion Road Capital</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/SIX " target="_blank">SIX </a><a href="https://roic.ai/company/CRMT " target="_blank">CRMT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_10_18.pdf">Myrmikan Research</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/10/Akre-Focus-Fund-Quarterly-Commentary-2022-Q3.pdf#page=1">Akre Focus Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/third-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220930.pdf">FMI All Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/AVY " target="_blank">AVY </a><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220930.pdf">FMI International Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/BME.L " target="_blank">BME.L </a><a href="https://roic.ai/company/HWDN.L" target="_blank">HWDN.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220930.pdf">FMI Large Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/AVY " target="_blank">AVY </a><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220930.pdf">FMI Small Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/SSD " target="_blank">SSD </a><a href="https://roic.ai/company/G" target="_blank">G</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/MS" target="_blank">MS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/ACGL " target="_blank">ACGL </a><a href="https://roic.ai/company/ALC" target="_blank">ALC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/MKSI " target="_blank">MKSI </a><a href="https://roic.ai/company/ROST" target="_blank">ROST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_335ac33761cb41fca0df619b92792f4e.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/EZJ.L" target="_blank">EZJ.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/CEG " target="_blank">CEG </a><a href="https://roic.ai/company/SWKS " target="_blank">SWKS </a><a href="https://roic.ai/company/AAP " target="_blank">AAP </a><a href="https://roic.ai/company/TCBI" target="_blank">TCBI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/NOV " target="_blank">NOV </a><a href="https://roic.ai/company/PDCO " target="_blank">PDCO </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/PLOW " target="_blank">PLOW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/10/Q3-2022-Letter.pdf">Distillate Capital</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-09.30.22_0.pdf">Baron Asset Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/LPLA" target="_blank">LPLA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-09.30.22.pdf">Baron Real Estate Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/PLD " target="_blank">PLD </a><a href="https://roic.ai/company/NTST " target="_blank">NTST </a><a href="https://roic.ai/company/SBAC " target="_blank">SBAC </a><a href="https://roic.ai/company/REXR " target="_blank">REXR </a><a href="https://roic.ai/company/POOL" target="_blank">POOL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-09.30.22.pdf">Baron Discovery Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/TXRH " target="_blank">TXRH </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/CDNA " target="_blank">CDNA </a><a href="https://roic.ai/company/NVTS " target="_blank">NVTS </a><a href="https://roic.ai/company/SMRT" target="_blank">SMRT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q3.pdf">Alphyn Capital Management</a></td><td width="14%">10/23/2022</td><td width="39%"><a href="https://roic.ai/company/WAND.L " target="_blank">WAND.L </a><a href="https://roic.ai/company/AHT.L " target="_blank">AHT.L </a><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/IAC" target="_blank">IAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/634e89d6a2cbef04f1622a8f/1666091479613/Upslope+-+2022Q3+Letter.pdf">Upslope Capital Management</a></td><td width="14%">10/23/2022</td><td width="39%"><a href="https://roic.ai/company/CACI " target="_blank">CACI </a><a href="https://roic.ai/company/BOMXF" target="_blank">BOMXF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tidefallcapital.com/_files/ugd/8a849d_3fae497374bf484ea2ff05fa846574c9.pdf">Tidefall Capital Management</a></td><td width="14%">10/25/2022</td><td width="39%"><a href="https://roic.ai/company/FFH.TO" target="_blank">FFH.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/10/Alluvial-Capital-Management-Q3-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="14%">10/25/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/BFCC " target="_blank">BFCC </a><a href="https://roic.ai/company/UBAB " target="_blank">UBAB </a><a href="https://roic.ai/company/CBOBA " target="_blank">CBOBA </a><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/JOB" target="_blank">JOB</a><a href="https://roic.ai/company/JOB" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q3NP.pdf">Hoisington Investment Management</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-3Q2022.pdf.pdf">Polen - U.S. SMID Company Growth </a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/EEFT " target="_blank">EEFT </a><a href="https://roic.ai/company/BMBL" target="_blank">BMBL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-3Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/ILMN" target="_blank">ILMN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2022.pdf">Polen Capital - Global Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/OR.PA" target="_blank">OR.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - Global SMID Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2022.pdf">Polen Capital - International Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/KER.PA " target="_blank">KER.PA </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/EVO.ST" target="_blank">EVO.ST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=638023291350000000">Weitz Hickory Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/CHTR " target="_blank">CHTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638023291350000000">Weitz Partners III Opportunity Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638023291350000000">Weitz Partners Value Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638023291350000000">Weitz Value Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-09.30.22.pdf">Baron Small Cap Fund</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/CAKE " target="_blank">CAKE </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/CLVT" target="_blank">CLVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-09.30.22.pdf">Baron Opportunity Fund</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/MPWR " target="_blank">MPWR </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/NET " target="_blank">NET </a><a href="https://roic.ai/company/INDI" target="_blank">INDI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/636060c8d7eb05165dcc49f4/1667260616405/NZS+Capital+Q3+2022+Letter.pdf">NZS Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.okeefestevens.com/wp-content/uploads/2022/10/Q3-2022-Letter-1.pdf">O'Keefe Stevens</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/LAZ " target="_blank">LAZ </a><a href="https://roic.ai/company/SRG " target="_blank">SRG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-q3-2022-letter">Rowan Street Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1izeodANnozDBAGIUqaBbVZDbA3pC3it4/view">Greenlight Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/6360899201fcc54056e8475f/1667271058990/Nordstern+Capital+3Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/3q2022-commentary">Whitebrook Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/BOX" target="_blank">BOX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/2baa1d32-1047-4534-86e2-f8957c0774de.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/CHRD " target="_blank">CHRD </a><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/SRC" target="_blank">SRC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llin-commentary/">Longleaf Partners International Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=3Q2022">Ave Maria Funds</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/DBRG " target="_blank">DBRG </a><a href="https://roic.ai/company/EDR.MC " target="_blank">EDR.MC </a><a href="https://roic.ai/company/AMMO" target="_blank">AMMO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/APFDX-APDDX-APHDX-QCommentary-3Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTKX-APDKX-APHKX-QCommentary-3Q22-vR.pdf">Artisan International Value Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTMX-APDMX-APHMX-QCommentary-3Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTSX-APDSX-APHSX-QCommentary-3Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/MTSI " target="_blank">MTSI </a><a href="https://roic.ai/company/IRTC " target="_blank">IRTC </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTLX-APDLX-APHLX-QCommentary-3Q22-vR.pdf">Artisan Value Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTTX-APDTX-APHTX-QCommentary-3Q22-vR.pdf">Artisan Focus Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2022/10/RGAIA-Q322-INVESTMENT-COMMENTARY.pdf">RGA Investment Advisors</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/BMY " target="_blank">BMY </a><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/MXCT " target="_blank">MXCT </a><a href="https://roic.ai/company/REGN" target="_blank">REGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/6345b2150a72d45aebb4ca7b/1665511958488/3Q22+letter+FINAL.pdf">Long Cast Advisers </a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_38844241568340438328f3a4b83aa589.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/LDOS " target="_blank">LDOS </a><a href="https://roic.ai/company/TTC" target="_blank">TTC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q3.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/5h5ztiwrudtejz4/2022_CTG_InvestorLetter_II.pdf?dl=0">Canterbury Tollgate</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/11/2022Q3-Commentary.pdf">Palm Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2022/10/CSCAX_2022-09-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/ECVT " target="_blank">ECVT </a><a href="https://roic.ai/company/GBLI " target="_blank">GBLI </a><a href="https://roic.ai/company/WSTG " target="_blank">WSTG </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/VSAT " target="_blank">VSAT </a><a href="https://roic.ai/company/CARG" target="_blank">CARG</a><a href="https://roic.ai/company/CARG" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/rising-uncertainty-greater-value-potential/">Miller Deep Value</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/TPC " target="_blank">TPC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/pop-goes-the-safety-bubble/">Miller Income Strategy</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/ARLP " target="_blank">ARLP </a><a href="https://roic.ai/company/CHK " target="_blank">CHK </a><a href="https://roic.ai/company/BKE " target="_blank">BKE </a><a href="https://roic.ai/company/OGN " target="_blank">OGN </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/VTRS" target="_blank">VTRS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/miller-opportunity-equity-3q2022-commentary/">Miller Opportunity Trust</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/10/HCM-Q3-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/UFPT" target="_blank">UFPT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/3Q22%20-%20FV.html">Bireme Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/11/Epoch-Quarterly-Newsletter_November-2022.pdf">Epoch Investment Partners</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/abb1a0_d96d3b63ef9249a4a1778f8368c0d997.pdf">Arch Capital Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/ADSK" target="_blank">ADSK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2022/11/VVP-Quarterly-Letter-22.09.30.pdf">Vulcan Value Partners</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-Q322.pdf">Horos Funds</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2022/10/2022-Q3-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/WCC " target="_blank">WCC </a><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/OEC " target="_blank">OEC </a><a href="https://roic.ai/company/FARM" target="_blank">FARM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2022/">Oakmark Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/FBHS " target="_blank">FBHS </a><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2022/">Oakmark Global Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-third-quarter-2022/">Oakmark Global Select Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-third-quarter-2022/">Oakmark International Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-third-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2022/">Oakmark Select Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/KKR" target="_blank">KKR</a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/WFC" target="_blank">WFC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q3-2022-Review-1.pdf">Horizon Kinetics</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-09.30.22.pdf">Baron FinTech Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/FDS " target="_blank">FDS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-09.30.22.pdf">Baron Growth Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Growth-Fund-Quarterly-Letter-09.30.22.pdf">Baron Fifth Avenue Growth Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/TEAM " target="_blank">TEAM </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-09.30.22.pdf">Blue Hawk Investment Group </a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202209/Commentary-Small-Cap-Fund-2022-09-30.pdf?c=638041193440000000">Diamond Hill Small Cap Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_88fbbb3c8834487e9613e5d9b99bcdb2.pdf">Greystone Capital Management</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/POL " target="_blank">POL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/bc1677a8-bc5f-f676-765a-c17cf163274d/Third_Quarter_2022_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20220930.pdf">Rondure Global</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/63828b47a89b9902cff228f3/1669499719982/Greenhaven+Road+-+2022+Q3+final.pdf">Greenhaven Road Capital</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/HGTY " target="_blank">HGTY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lvsadvisory.com/wp-content/uploads/2022/11/LVS-Advisory-Letter-Q3-2022.pdf">LVS Advisory</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1YX1wN-8uUGmgpr-7WONZxhWgmdHNE4xD/view">Andaz Private Investments</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/CEG " target="_blank">CEG </a><a href="https://roic.ai/company/PCTY " target="_blank">PCTY </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/AVTR " target="_blank">AVTR </a><a href="https://roic.ai/company/MRCY " target="_blank">MRCY </a><a href="https://roic.ai/company/SGEN" target="_blank">SGEN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/RBC " target="_blank">RBC </a><a href="https://roic.ai/company/SWAV " target="_blank">SWAV </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/MRCY " target="_blank">MRCY </a><a href="https://roic.ai/company/HSKA " target="_blank">HSKA </a><a href="https://roic.ai/company/QDEL" target="_blank">QDEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/AMRC " target="_blank">AMRC </a><a href="https://roic.ai/company/SPSC " target="_blank">SPSC </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/DRQ " target="_blank">DRQ </a><a href="https://roic.ai/company/DH" target="_blank">DH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6351f52d0605461c7ccb2368/1666315566155/Q3+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/BFCC " target="_blank">BFCC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/11/DKAM-ROE-Reporter-November-2022-Final-1.pdf">Donville Kent Asset Management</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/">Ariel Trust Funds</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/GNRC " target="_blank">GNRC </a><a href="https://roic.ai/company/SJM " target="_blank">SJM </a><a href="https://roic.ai/company/AD.AS " target="_blank">AD.AS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://dmzpartners.in/Documents/Files/DMZ-1953-DMZ-Partners-Semi-Annual-FY-22-23-(Redacted).pdf">DMZ Partners</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">2nd Quarter 2022</span>
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<th>Fund Name</th>
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<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="https://andvariassociates.com/q2-2022-letter">Andvari Associates</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE" target="_blank">ADBE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/62c34100d8a0b71baa04f0d6/1656963328450/Q22022.pdf">Comus Investments</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/07/STJIC-Adviser-Letter-2022-Q2.pdf">St. James Investment Company </a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_71_en.pdf">Vltava Fund</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/CVE" target="_blank">CVE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_9ed0664cbf44487498dabef6136c34a9.pdf">Palm Valley Capital Fund</a></td><td width="13%">7/11/2022</td><td width="39%"><a href="https://roic.ai/company/CRI " target="_blank">CRI </a><a href="https://roic.ai/company/ORI " target="_blank">ORI </a><a href="https://roic.ai/company/HOFT " target="_blank">HOFT </a><a href="https://roic.ai/company/LSDAF " target="_blank">LSDAF </a><a href="https://roic.ai/company/NATH" target="_blank">NATH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/q2-2022-letter/">Moon Capital</a></td><td width="13%">7/11/2022</td><td width="39%"><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/07/QUARTERLY-REPORT-WEB-June-2022.pdf">East72 Holdings</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/UHAL" target="_blank">UHAL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220630.pdf">FMI All Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220630.pdf">FMI International Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220630.pdf">FMI Large Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220630.pdf">FMI Small Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/07/Akre-Focus-Fund-Quarterly-Commentary-2022-Q2.pdf#page=1">Akre Focus Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LNSTY" target="_blank">LNSTY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-june-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LNSTY" target="_blank">LNSTY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_1873be9d3ce44fc3b5c369e601b24bf2.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/POOL " target="_blank">POOL </a><a href="https://roic.ai/company/SBUX " target="_blank">SBUX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DiversifiedIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/FWONA " target="_blank">FWONA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/MODN" target="_blank">MODN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.okeefestevens.com/the-value-connection-q3-2022/">O'Keefe Stevens</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_c3d41bb31a4e4fceaeda7fd688900816.pdf">Merion Road Capital</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/WHG" target="_blank">WHG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/07/2Q-2022-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/07/2Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2022.pdf">L1 Capital Long Short Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/CVE " target="_blank">CVE </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/BLSFF " target="_blank">BLSFF </a><a href="https://roic.ai/company/CSCCF " target="_blank">CSCCF </a><a href="https://roic.ai/company/MALRF " target="_blank">MALRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/07/L1-Capital-International-June-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/EXP " target="_blank">EXP </a><a href="https://roic.ai/company/LPX " target="_blank">LPX </a><a href="https://roic.ai/company/GPK " target="_blank">GPK </a><a href="https://roic.ai/company/IQV" target="_blank">IQV</a><a href="https://roic.ai/company/IQV" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/62cbc62477b6d55880a73619/1657521700839/2022+Q2.pdf">Blue Tower Asset Management</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/TWLO " target="_blank">TWLO </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/NKE " target="_blank">NKE </a><a href="https://roic.ai/company/ADYEY " target="_blank">ADYEY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_2Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/62cdd2395fa0eb484016f5ee/1657655865394/NZS+Capital+Q2+2022+Letter.pdf">NZS Capital</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/62d2310dc4c1847abbeb2e81/1657942290214/Worm+Capital+-+Q2+2022+Investor+Letter+-+Final.pdf">Worm Capital</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_3d822183168e4209b8a3667996b689ba.pdf">Old West Capital Management</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/LMT" target="_blank">LMT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/07/Q2-2022-letter.pdf">Distillate Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/COLD " target="_blank">COLD </a><a href="https://roic.ai/company/FIBK " target="_blank">FIBK </a><a href="https://roic.ai/company/SNA " target="_blank">SNA </a><a href="https://roic.ai/company/G " target="_blank">G </a><a href="https://roic.ai/company/THO " target="_blank">THO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/CSV " target="_blank">CSV </a><a href="https://roic.ai/company/STKL " target="_blank">STKL </a><a href="https://roic.ai/company/DINO " target="_blank">DINO </a><a href="https://roic.ai/company/NWPX " target="_blank">NWPX </a><a href="https://roic.ai/company/CECE " target="_blank">CECE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/POWL " target="_blank">POWL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/62d84967f06fb35bcb155c28/1658341735984/Q2+2022+Letter.pdf">Curreen Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q2.pdf">Alphyn Capital Management</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/CRSS " target="_blank">CRSS </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/W " target="_blank">W </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3141">Miller/Howard Investments</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/62d79087a80fcc2f5c2d10b3/1658294408196/Nordstern+Capital+2Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/ARCH " target="_blank">ARCH </a><a href="https://roic.ai/company/ERJ " target="_blank">ERJ </a><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/EVVTY " target="_blank">EVVTY </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-06.30.22.pdf">Baron Health Care Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/BMY " target="_blank">BMY </a><a href="https://roic.ai/company/VRTX " target="_blank">VRTX </a><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/INGEF " target="_blank">INGEF </a><a href="https://roic.ai/company/VESTF " target="_blank">VESTF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/DHI " target="_blank">DHI </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/SUPN " target="_blank">SUPN </a><a href="https://roic.ai/company/CCF " target="_blank">CCF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/THYCF " target="_blank">THYCF </a><a href="https://roic.ai/company/AJMPF " target="_blank">AJMPF </a><a href="https://roic.ai/company/SCPPF" target="_blank">SCPPF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/2q2022-commentary">Whitebrook Capital</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/ITRI " target="_blank">ITRI </a><a href="https://roic.ai/company/AFYA " target="_blank">AFYA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-1h-2022-letter">Rowan Street Capital</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/PTON " target="_blank">PTON </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-06.30.22.pdf">Baron Discovery Fund</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/GWRE " target="_blank">GWRE </a><a href="https://roic.ai/company/ASGN " target="_blank">ASGN </a><a href="https://roic.ai/company/CDAY " target="_blank">CDAY </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/ESTA " target="_blank">ESTA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-06.30.22.pdf">Baron Real Estate Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/AVB " target="_blank">AVB </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/FBHS " target="_blank">FBHS </a><a href="https://roic.ai/company/DLR " target="_blank">DLR </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/second-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/NOW " target="_blank">NOW </a><a href="https://roic.ai/company/MASI " target="_blank">MASI </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/FAF " target="_blank">FAF </a><a href="https://roic.ai/company/HD" target="_blank">HD</a><a href="https://roic.ai/company/HD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/94923153-a150-4b32-838d-a5f30725880d.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/CADE " target="_blank">CADE </a><a href="https://roic.ai/company/HHC " target="_blank">HHC </a><a href="https://roic.ai/company/TRNO" target="_blank">TRNO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/62d7ddf71cba2f101dd6f698/1658314232755/Upslope+-+2022Q2+Letter.pdf">Upslope Capital Management</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/BALL " target="_blank">BALL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q2NP.pdf">Hoisington Investment Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q2-2022-Review_FINAL_2.pdf">Horizon Kinetics</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/WPM " target="_blank">WPM </a><a href="https://roic.ai/company/ATUSF " target="_blank">ATUSF </a><a href="https://roic.ai/company/ATRWF " target="_blank">ATRWF </a><a href="https://roic.ai/company/CME " target="_blank">CME </a><a href="https://roic.ai/company/PREKF" target="_blank">PREKF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2022/">Oakmark Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/DIS " target="_blank">DIS </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/MAS " target="_blank">MAS </a><a href="https://roic.ai/company/ORCL " target="_blank">ORCL </a><a href="https://roic.ai/company/PH" target="_blank">PH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2022/">Oakmark Global Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-quarter-2022/">Oakmark Global Select Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-quarter-2022/">Oakmark International Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/CS " target="_blank">CS </a><a href="https://roic.ai/company/PPRUY" target="_blank">PPRUY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-second-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/ELEEF " target="_blank">ELEEF </a><a href="https://roic.ai/company/ATEAY " target="_blank">ATEAY </a><a href="https://roic.ai/company/FLUIF " target="_blank">FLUIF </a><a href="https://roic.ai/company/NEXXY " target="_blank">NEXXY </a><a href="https://roic.ai/company/XPG.F" target="_blank">XPG.F</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2022/">Oakmark Select Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/07/Alluvial-Capital-Management-Q2-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/GTXAP " target="_blank">GTXAP </a><a href="https://roic.ai/company/TIMB " target="_blank">TIMB </a><a href="https://roic.ai/company/BSND " target="_blank">BSND </a><a href="https://roic.ai/company/CUSI" target="_blank">CUSI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/62cf0ec135184b57392bd28a/1657736897912/GCAM+Q2+2022+letter_.pdf">Giverny Capital Asset Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/ASHTF " target="_blank">ASHTF </a><a href="https://roic.ai/company/ADI " target="_blank">ADI </a><a href="https://roic.ai/company/FND" target="_blank">FND</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202206/Commentary-Small-Cap-Fund-2022-06-30.pdf?c=637941173470000000">Diamond Hill Small Cap Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/FA " target="_blank">FA </a><a href="https://roic.ai/company/ECOM " target="_blank">ECOM </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/ESAB " target="_blank">ESAB </a><a href="https://roic.ai/company/ENOV" target="_blank">ENOV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/values-opportunity-in-uncertain-times/">Pzena Investment Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_07_13.pdf">Myrmikan Research</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/EVH " target="_blank">EVH </a><a href="https://roic.ai/company/CYRX " target="_blank">CYRX </a><a href="https://roic.ai/company/GO " target="_blank">GO </a><a href="https://roic.ai/company/HRI " target="_blank">HRI </a><a href="https://roic.ai/company/ATRC " target="_blank">ATRC </a><a href="https://roic.ai/company/INSP" target="_blank">INSP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/APPL " target="_blank">APPL </a><a href="https://roic.ai/company/MSFT" target="_blank">MSFT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/low-valuation-securities-remain-attractive/">Miller Deep Value</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/AXL " target="_blank">AXL </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/FTI " target="_blank">FTI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WMB " target="_blank">WMB </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/GE" target="_blank">GE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2qllgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2q-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WHGLY " target="_blank">WHGLY </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/DPZ " target="_blank">DPZ </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/EXXRF" target="_blank">EXXRF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2qllsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/OSCR " target="_blank">OSCR </a><a href="https://roic.ai/company/VMEO " target="_blank">VMEO </a><a href="https://roic.ai/company/HOUS " target="_blank">HOUS </a><a href="https://roic.ai/company/ESRT " target="_blank">ESRT </a><a href="https://roic.ai/company/WEST" target="_blank">WEST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2022/07/CSCAX_2022-06-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/HNRG " target="_blank">HNRG </a><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/VSAT " target="_blank">VSAT </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/INFU " target="_blank">INFU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=4Q2021">Ave Maria Funds</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/BAMR " target="_blank">BAMR </a><a href="https://roic.ai/company/GPRE " target="_blank">GPRE </a><a href="https://roic.ai/company/CHK " target="_blank">CHK </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/MIR " target="_blank">MIR </a><a href="https://roic.ai/company/STNE" target="_blank">STNE</a><a href="https://roic.ai/company/STNE" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mawer.com/tools-and-resources/mawer-quarterly/second-quarter-2022/">Mawer Mutual Funds</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ip-capitalpartners.com/reports/turbulencia-disciplina-e-oportunidades/">IP-Capital Partners</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/CHTR " target="_blank">CHTR </a><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637941317810000000">Weitz Hickory Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637941317810000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637941317810000000">Weitz Partners Value Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637941317810000000">Weitz Value Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202206.pdf">Bronte Capital</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/62e2e2f20516c810ef10968d/1659036402933/Q2%2722+letter.pdf">1 Main Capital Partners</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/KKR" target="_blank">KKR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_3fd6189e2a71450f962f24f91188aa47.pdf">Emeth Value Capital</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/DECPF" target="_blank">DECPF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_2Q_2022.pdf">Saltlight Capital </a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/Q2%202022%20Investor%20Letter.pdf">Praetorian Capital </a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_6b3d9dfea2cc42fb9f2318b7c81a7061.pdf">Greystone Capital Management</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/IDT " target="_blank">IDT </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/ec64f82f-10b4-eda5-697d-61f8bc7c5f50/Second_Quarter_2022_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5a57e9fd53450ad1027d1e2f/1515710973971/Maran+Partners+Fund+LP+Founders+Letter_Web.pdf">Maran Capital Management</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-2Q2022.pdf">Polen - U.S. SMID Company Growth </a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-2Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/ABNB " target="_blank">ABNB </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2022.pdf">Polen Capital - Global Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2022.pdf">Polen Capital - International Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1659734271304">Miller Income Strategy</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/HRB " target="_blank">HRB </a><a href="https://roic.ai/company/ARLP " target="_blank">ARLP </a><a href="https://roic.ai/company/HMPT " target="_blank">HMPT </a><a href="https://roic.ai/company/JXN" target="_blank">JXN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1659734087106">Miller Opportunity Trust</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/UAL " target="_blank">UAL </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/KRTX " target="_blank">KRTX </a><a href="https://roic.ai/company/NCLH " target="_blank">NCLH </a><a href="https://roic.ai/company/COIN " target="_blank">COIN </a><a href="https://roic.ai/company/BHC" target="_blank">BHC</a><a href="https://roic.ai/company/BHC" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/2Q22%20-%20FV.html">Bireme Capital</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/08/Epoch-Quarterly-Newsletter_July-2022.pdf">Epoch Investment Partners</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/62e2cb493d43c21e9376276e/1659030345791/Q2+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/WCRS " target="_blank">WCRS </a><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/07/HCM-Q2-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/QLYS " target="_blank">QLYS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20220630.pdf">Rondure Global</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1FS2qH8wCrX1GJzXVnCNKruC88PSVEAeM/view">Tidefall Capital Management</a></td><td width="13%">8/06/2022</td><td width="39%"><a href="https://roic.ai/company/ONEXF" target="_blank">ONEXF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_263985b67ed3417898a45ca656079240.pdf">Arch Capital Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/IAC" target="_blank">IAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1q4vlkXfomG1UDoGDBOdqVQza0UfOwLFB/view">Andaz Private Investments</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2022/08/VVP-Quarterly-Letter-22.06.30.pdf">Vulcan Value Partners</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/SNBR " target="_blank">SNBR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/62ea7798a152c62213de90d3/1659533208350/2022+Q2_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/EXTR" target="_blank">EXTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2022-q2.pdf?sfvrsn=178909d_4">FPA Crescent Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-value-fund/literature/fpa-qr-value-fund-commentary-2022-q2.pdf?sfvrsn=127d909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-06.pdf?sfvrsn=9d78909d_4">FPA U.S. Core Equity Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/62d556904064b731387d7ff0/1658148496935/Laughing+Water+Capital+1H%2722.pdf">Laughing Water Capital</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/AIMFF " target="_blank">AIMFF </a><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/LNDC " target="_blank">LNDC </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/FREE " target="_blank">FREE </a><a href="https://roic.ai/company/TACT" target="_blank">TACT</a><a href="https://roic.ai/company/TACT" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/commentary/q2-2022/">RGA Investment Advisors</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/MXCT" target="_blank">MXCT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q22.pdf">Horos Funds</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2022/07/2022-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/FARM " target="_blank">FARM </a><a href="https://roic.ai/company/OEC " target="_blank">OEC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-06.30.22.pdf">Baron Asset Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/ICLR " target="_blank">ICLR </a><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-06.30.22.pdf">Baron FinTech Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/PGR" target="_blank">PGR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-06.30.22.pdf">Baron Growth Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/2Q22-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_58936293e76f4b18a81f15c112767f12.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/POOL " target="_blank">POOL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q2.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2022/HL-EM-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner Global Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/SIVB " target="_blank">SIVB </a><a href="https://roic.ai/company/ADYEY" target="_blank">ADYEY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Companies-Quarterly-Report-2Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner International Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-International-Small-Companies-Quarterly-Report-2Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/62eb088133bf8171c47f3445/1659570306154/2022.Q2+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/EVBG " target="_blank">EVBG </a><a href="https://roic.ai/company/XPEL " target="_blank">XPEL </a><a href="https://roic.ai/company/NGMS" target="_blank">NGMS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=9707b2a5f8">Argosy Investors</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/DFH " target="_blank">DFH </a><a href="https://roic.ai/company/AMOT " target="_blank">AMOT </a><a href="https://roic.ai/company/CURV " target="_blank">CURV </a><a href="https://roic.ai/company/FTV " target="_blank">FTV </a><a href="https://roic.ai/company/VNT " target="_blank">VNT </a><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/WBD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-06.30.22.pdf">Baron Partners Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-06.30.22.pdf">Baron Small Cap Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/SPT" target="_blank">SPT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/posts/artko-capital-2q-2022-partner-letter-wQrTlD7W">Artko Capital</a></td><td width="13%">8/16/2022</td><td width="39%"><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/PBPB " target="_blank">PBPB </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/HQI" target="_blank">HQI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/62e1b3a1a3675577a5c65806/1658958753933/2Q22+letter+final.pdf">Long Cast Advisers </a></td><td width="13%">8/16/2022</td><td width="39%"><a href="https://roic.ai/company/CCRN " target="_blank">CCRN </a><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/QRHC " target="_blank">QRHC </a><a href="https://roic.ai/company/DAIO " target="_blank">DAIO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/07/2022Q2-Commentary.pdf">Palm Capital</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/62f449c44ff2ac1a47ebbec8/1660176836873/Bonsai+Partners+Fund+Q2+2022+Investor+Letter+Final+For+Distribution.pdf">Bonsai Partners</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/RDBBF " target="_blank">RDBBF </a><a href="https://roic.ai/company/XPEL" target="_blank">XPEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/insider-buying-and-buybacks-at-hqi?utm_source=substack&utm_medium=email">Mindset Value Fund</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/MRMD " target="_blank">MRMD </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/NNI " target="_blank">NNI </a><a href="https://roic.ai/company/CNRFF" target="_blank">CNRFF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rvcapital.ch/post/first-half-2022-letter-to-co-investors-in-business-owner?utm_campaign=6b0317a6-2ab9-4e29-9937-076fe1218d6b&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/CACC " target="_blank">CACC </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/CVNA" target="_blank">CVNA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.gwinvestors.com/wp-content/uploads/2022.08.24-Q2-Letter-v3.pdf">GreenWood Investors</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/CTTPY " target="_blank">CTTPY </a><a href="https://roic.ai/company/KOD " target="_blank">KOD </a><a href="https://roic.ai/company/MEIP " target="_blank">MEIP </a><a href="https://roic.ai/company/LTRPA " target="_blank">LTRPA </a><a href="https://roic.ai/company/RH" target="_blank">RH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.riveroakcapital.se/docs/2022H1-ShareholderLetter-inclSinchComment-RiverOakCapitalAB.pdf">River Oak Capital</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/QTGPF " target="_blank">QTGPF </a><a href="https://roic.ai/company/SINCH.ST " target="_blank">SINCH.ST </a><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/APFDX-APDDX-APHDX-QCommentary-2Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/MAREL.AS " target="_blank">MAREL.AS </a><a href="https://roic.ai/company/VEEV " target="_blank">VEEV </a><a href="https://roic.ai/company/ON" target="_blank">ON</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTKX-APDKX-APHKX-QCommentary-2Q22-vR.pdf">Artisan International Value Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTMX-APDMX-APHMX-QCommentary-2Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/VEEV " target="_blank">VEEV </a><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/RYAN " target="_blank">RYAN </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTSX-APDSX-APHSX-QCommentary-2Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/NVST " target="_blank">NVST </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/JBT " target="_blank">JBT </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/SPT " target="_blank">SPT </a><a href="https://roic.ai/company/DV" target="_blank">DV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTLX-APDLX-APHLX-QCommentary-2Q22-vR.pdf">Artisan Value Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/BAC " target="_blank">BAC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://goodhavenfunds.com/media/GOODX%202022%20Semi-Annual%20Report.pdf">GoodHaven Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ad6aa59-a7ab-2ada-d10c-d6a911285822/Steel_City_Capital_2Q_22_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/TRUP " target="_blank">TRUP </a><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/SCI " target="_blank">SCI </a><a href="https://roic.ai/company/ETRN " target="_blank">ETRN </a><a href="https://roic.ai/company/UNTC " target="_blank">UNTC </a><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/630ae597b0970b461c0bb3a1/1661658519729/Greenhaven+Road+%282022+Q2%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">8/31/2022</td><td width="39%"><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">1st Quarter 2022</span>
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/04/STJIC-Adviser-Letter-2022-Q1.pdf">St. James Investment Company </a></td><td width="13%">4/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/04/QUARTERLY-REPORT-March-2022-Public.pdf">East72 Holdings</a></td><td width="13%">4/07/2022</td><td width="39%"><a href="https://roic.ai/company/VWAGY" target="_blank">VWAGY </a><a href="https://roic.ai/company/AU1.AX" target="_blank">AU1.AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/dopisy-akcionarum/war">Vltava Fund</a></td><td width="13%">4/08/2022</td><td width="39%"><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/CE " target="_blank">CE </a><a href="https://roic.ai/company/KLAC" target="_blank">KLAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/624a258b6c76b76db54c3f1f/1649026443456/Q12022.pdf">Comus Investments</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_a39d94d07f5a4ff8a1deec3550b06e6c.pdf">Palm Valley Capital Fund</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/HTLD " target="_blank">HTLD </a><a href="https://roic.ai/company/PLPC " target="_blank">PLPC </a><a href="https://roic.ai/company/MLR " target="_blank">MLR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/q1-2022-letter/">Moon Capital</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/MLNK " target="_blank">MLNK </a><a href="https://roic.ai/company/LGIH " target="_blank">LGIH </a><a href="https://roic.ai/company/GRBK" target="_blank">GRBK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/6151d62c-8cdf-d92d-0813-b9836d243d33/March_2022_Investor_Letter_What_if_a_Recession_is_the_Curevfin.pdf">Richie Capital Group</a></td><td width="13%">4/11/2022</td><td width="39%"><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/NXST " target="_blank">NXST </a><a href="https://roic.ai/company/SEDG " target="_blank">SEDG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_3ab5b8a4581b46ff8e8add6ab6705cc9.pdf">Merion Road Capital</a></td><td width="13%">4/11/2022</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/PTON " target="_blank">PTON </a><a href="https://roic.ai/company/SPWH" target="_blank">SPWH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/e1858d66-b8a2-4b96-71df-a603ceb99dc3/First_Quarter_2022_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CTAS " target="_blank">CTAS </a><a href="https://roic.ai/company/SMCYY " target="_blank">SMCYY </a><a href="https://roic.ai/company/HOCPY " target="_blank">HOCPY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CTAS " target="_blank">CTAS </a><a href="https://roic.ai/company/SMCYY " target="_blank">SMCYY </a><a href="https://roic.ai/company/HOCPY " target="_blank">HOCPY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_9aeda574e86d4f54b0b574ce3caa252a.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/625756132bad9d6fb7b93d3a/1649890835942/Q1+2022+-+Investor+Letter+-+4-12.pdf">Worm Capital</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220331.pdf">FMI All Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CSL " target="_blank">CSL </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220331.pdf">FMI International Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/SDXAY " target="_blank">SDXAY </a><a href="https://roic.ai/company/GRG.L" target="_blank">GRG.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220331.pdf">FMI Large Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CSL " target="_blank">CSL </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220331.pdf">FMI Small Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/SKX " target="_blank">SKX </a><a href="https://roic.ai/company/NVT " target="_blank">NVT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/EOG " target="_blank">EOG </a><a href="https://roic.ai/company/ADM " target="_blank">ADM </a><a href="https://roic.ai/company/NUE" target="_blank">NUE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/THO" target="_blank">THO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/NXST " target="_blank">NXST </a><a href="https://roic.ai/company/ABC " target="_blank">ABC </a><a href="https://roic.ai/company/PPG " target="_blank">PPG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/RDN " target="_blank">RDN </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/COLD " target="_blank">COLD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6253f41981bad02de3f2175a/1649669145713/2022+Q1.pdf">Blue Tower Asset Management</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/04/1Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=2249">Miller/Howard Investments</a></td><td width="13%">4/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/04/Q1-2022-letter.pdf">Distillate Capital</a></td><td width="13%">4/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Core-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Micro-Cap-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/KRNT " target="_blank">KRNT </a><a href="https://roic.ai/company/PRPL " target="_blank">PRPL </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/HLLY " target="_blank">HLLY </a><a href="https://roic.ai/company/SLP" target="_blank">SLP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Value-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/KRNT " target="_blank">KRNT </a><a href="https://roic.ai/company/MEDP " target="_blank">MEDP </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/HQY " target="_blank">HQY </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/EEFT " target="_blank">EEFT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Value-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Ultra-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2022/04/2022-03-March-Investor-Update.pdf">LRT Capital</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/PSA " target="_blank">PSA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2022.pdf">L1 Capital Long Short Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/04/L1-Capital-International-March-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2022/">Oakmark Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/EFX " target="_blank">EFX </a><a href="https://roic.ai/company/GPN " target="_blank">GPN </a><a href="https://roic.ai/company/PINS " target="_blank">PINS </a><a href="https://roic.ai/company/PHM " target="_blank">PHM </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2022/">Oakmark Global Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/BAYRY " target="_blank">BAYRY </a><a href="https://roic.ai/company/GLNCY " target="_blank">GLNCY </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/GM " target="_blank">GM </a><a href="https://roic.ai/company/CS" target="_blank">CS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-quarter-2022/">Oakmark Global Select Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-first-quarter-2022/">Oakmark International Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2022/">Oakmark Select Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-first-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_2b058680f1c7435ea64a4f5bcfea20bb.pdf">Old West Capital Management</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/BG" target="_blank">BG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/625ac340cf3dfa42945771c0/1650115393148/Laughing+Water+Capital+Q1%2722.pdf">Laughing Water Capital</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/TACT " target="_blank">TACT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/04/HCM-Q1-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/NOTV " target="_blank">NOTV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/GRI.L" target="_blank">GRI.L</a><a href="https://roic.ai/company/DHI " target="_blank">DHI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/625d4cf5eef5817d8a32bae1/1650281718164/Upslope+-+2022Q1+Letter.pdf">Upslope Capital Management</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/BWXT " target="_blank">BWXT </a><a href="https://roic.ai/company/NSKFF " target="_blank">NSKFF </a><a href="https://roic.ai/company/CMGMF " target="_blank">CMGMF </a><a href="https://roic.ai/company/SLGN" target="_blank">SLGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/04/Akre-Focus-Fund-Quarterly-Commentary-2022-Q1.pdf#page=1">Akre Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/PLAN " target="_blank">PLAN </a><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/NEOG " target="_blank">NEOG </a><a href="https://roic.ai/company/CFLT " target="_blank">CFLT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/HQY " target="_blank">HQY </a><a href="https://roic.ai/company/CHX " target="_blank">CHX </a><a href="https://roic.ai/company/PDCE " target="_blank">PDCE </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/CRYX " target="_blank">CRYX </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/CRWD " target="_blank">CRWD </a><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/AMD " target="_blank">AMD </a><a href="https://roic.ai/company/NTRA" target="_blank">NTRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/APR " target="_blank">APR </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/SWIM" target="_blank">SWIM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/1q2022-commentary">Whitebrook Capital</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/q1-2022-letter-be-greedy-when-everyone-else-is-fearful">Rowan Street Capital</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/DOCU " target="_blank">DOCU </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-03.31.22.pdf">Baron Health Care Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/ANTM " target="_blank">ANTM </a><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/RHHBY" target="_blank">RHHBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-03.31.22.pdf">Baron Real Estate Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/MTN " target="_blank">MTN </a><a href="https://roic.ai/company/PSA " target="_blank">PSA </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/GDS " target="_blank">GDS </a><a href="https://roic.ai/company/LVS " target="_blank">LVS </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2022/04/PzenaNewsletter-Commentary-1Q22.pdf">Pzena Investment Management</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202112/Commentary-Small-Cap-Fund-2021-12-31.pdf?c=637860577560000000">Diamond Hill Small Cap Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/RHP " target="_blank">RHP </a><a href="https://roic.ai/company/ERII " target="_blank">ERII </a><a href="https://roic.ai/company/JOUT " target="_blank">JOUT </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-03.31.22.pdf">Baron Discovery Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/ACC " target="_blank">ACC </a><a href="https://roic.ai/company/AXON " target="_blank">AXON </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/first-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/GOOGL " target="_blank">GOOGL </a><a href="https://roic.ai/company/CMG " target="_blank">CMG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q1NP.pdf">Hoisington Investment Management</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1eWlvQ6bBGVUrfdlMLRdnD2SXg_k4BxHc/view">Greenlight Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/BHF " target="_blank">BHF </a><a href="https://roic.ai/company/INSW " target="_blank">INSW </a><a href="https://roic.ai/company/RYAAY " target="_blank">RYAAY </a><a href="https://roic.ai/company/SNX " target="_blank">SNX </a><a href="https://roic.ai/company/SWN " target="_blank">SWN </a><a href="https://roic.ai/company/WFRD" target="_blank">WFRD</a><a href="https://roic.ai/company/WFRD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/626419bdf119917020e60231/1650727357479/NZS+Capital+Q1+2022+Letter.pdf">NZS Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/1q22_scv_commentary.pdf">Bernzott Capital Advisors</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/HALO " target="_blank">HALO </a><a href="https://roic.ai/company/HCI " target="_blank">HCI </a><a href="https://roic.ai/company/MP " target="_blank">MP </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/VNOM " target="_blank">VNOM </a><a href="https://roic.ai/company/CMP" target="_blank">CMP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202203.pdf">Bronte Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/HLF" target="_blank">HLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/letters">Arch Capital Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/WIX" target="_blank">WIX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://okeefestevens.com/wp-content/uploads/2022/04/Q1-2022-Letter.pdf">O'Keefe Stevens</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/EAF " target="_blank">EAF </a><a href="https://roic.ai/company/NMRK " target="_blank">NMRK </a><a href="https://roic.ai/company/INTC " target="_blank">INTC </a><a href="https://roic.ai/company/DFIN " target="_blank">DFIN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.nelsoncap.com/2022/04/19/a-shift-to-value/">Nelson Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/1q/ARTKX-APDKX-APHKX-QCommentary-1Q22-vR.pdf">Artisan International Value Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/INGVF " target="_blank">INGVF </a><a href="https://roic.ai/company/DANOY " target="_blank">DANOY </a><a href="https://roic.ai/company/ACGL " target="_blank">ACGL </a><a href="https://roic.ai/company/ST " target="_blank">ST </a><a href="https://roic.ai/company/GRMN " target="_blank">GRMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/1q/ARTMX-APDMX-APHMX-QCommentary-1Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/WMS " target="_blank">WMS </a><a href="https://roic.ai/company/ZI " target="_blank">ZI </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/NVST " target="_blank">NVST </a><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/a-plethora-of-new-macro-trends/?nowprocket=1">Crestcat Capital</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q1.pdf">Alphyn Capital Management</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/NPSNY " target="_blank">NPSNY </a><a href="https://roic.ai/company/W" target="_blank">W</a><a href="https://roic.ai/company/W" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/62631820b0120447ae1bfd0d/1650661409058/Q1+2022+Letter.pdf">Curreen Capital</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/625f19fcdfe4601f6c548eac/1650399740156/GCAM+Q1+2022+letter.pdf">Giverny Capital Asset Management</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/FIVE " target="_blank">FIVE </a><a href="https://roic.ai/company/ERFSF " target="_blank">ERFSF </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/IBP " target="_blank">IBP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q1-2022-letter">Andvari Associates</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/TOITF" target="_blank">TOITF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/626308527b9928476cd4c91a/1650657362518/Nordstern+Capital+1Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/THQQF " target="_blank">THQQF </a><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/EVVTY " target="_blank">EVVTY </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/ARCH " target="_blank">ARCH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1651366770635">Miller Income Strategy</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/VALE " target="_blank">VALE </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/HRB " target="_blank">HRB </a><a href="https://roic.ai/company/SDIG " target="_blank">SDIG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1651366550692">Miller Opportunity Trust</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/OVV " target="_blank">OVV </a><a href="https://roic.ai/company/FANG " target="_blank">FANG </a><a href="https://roic.ai/company/CLF " target="_blank">CLF </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/HLF" target="_blank">HLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637868432950000000">Weitz Hickory Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/AZO" target="_blank">AZO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637868432950000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637868432950000000">Weitz Partners Value Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637868432950000000">Weitz Value Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/FB" target="_blank">FB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2022.pdf">Polen Capital - Global Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/ALGN" target="_blank">ALGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2022.pdf">Polen Capital - International Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2022/HL-EM-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Global Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/ROK " target="_blank">ROK </a><a href="https://roic.ai/company/SBGSY " target="_blank">SBGSY </a><a href="https://roic.ai/company/DE " target="_blank">DE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Cos-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/TCHBF " target="_blank">TCHBF </a><a href="https://roic.ai/company/KWS.L" target="_blank">KWS.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner International Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-Intl-Small-Cos-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/04/Epoch-Quarterly-Newsletter_April-2022.pdf">Epoch Investment Partners</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-03.31.22.pdf">Baron Asset Fund</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/EPAM " target="_blank">EPAM </a><a href="https://roic.ai/company/TFX " target="_blank">TFX </a><a href="https://roic.ai/company/CSGP " target="_blank">CSGP </a><a href="https://roic.ai/company/FICO" target="_blank">FICO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/626fcd2edf6cb02eb0e8d2e3/1651494191083/2022.Q1+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/NGMS " target="_blank">NGMS </a><a href="https://roic.ai/company/DSKE " target="_blank">DSKE </a><a href="https://roic.ai/company/XPEL" target="_blank">XPEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-03.31.22.pdf">Baron Small Cap Fund</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/PGNY " target="_blank">PGNY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2022/04/Greystone-Capital-Q1-2022-Letter.pdf">Greystone Capital Management</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/62701052a50f890241d6532e/1651511379503/1Q22+letter.pdf">Long Cast Advisers </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/DAIO" target="_blank">DAIO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/626fe5c78d02785e0c2d9450/1651500487422/Q1%2722+letter.pdf">1 Main Capital Partners</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/FIGS" target="_blank">FIGS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_54611dd9142d4b99bd5919ac79a27e36.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/AYI " target="_blank">AYI </a><a href="https://roic.ai/company/MMS " target="_blank">MMS </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/6263e168f5c19b0ca3ab9afd/1650712936941/Greenhaven+Road+%282022+Q1%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/TDOC " target="_blank">TDOC </a><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-1Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/TSM " target="_blank">TSM </a><a href="https://roic.ai/company/WZZAF " target="_blank">WZZAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-1Q2022.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/BMBL " target="_blank">BMBL </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/HLNE " target="_blank">HLNE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6271768f1b27f83c5c8e5b7c/1651603089351/Q1+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/QUCT " target="_blank">QUCT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q1-2022-Roundtable-Discussion-for-Website_FINAL.pdf">Horizon Kinetics</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-03.31.22.pdf">Baron FinTech Fund</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/EFX " target="_blank">EFX </a><a href="https://roic.ai/company/GLOB " target="_blank">GLOB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q1.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202022%20Final.pdf">Tweedy Browne</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/BZZUY " target="_blank">BZZUY </a><a href="https://roic.ai/company/KOYJF " target="_blank">KOYJF </a><a href="https://roic.ai/company/THO " target="_blank">THO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/36dbc4dd-55c3-16ab-a279-58bcc8775251/Steel_City_Capital_1Q_22_Partner_Letter.pdf">Steel City Capital</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/SCI " target="_blank">SCI </a><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/LILA " target="_blank">LILA </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/APM" target="_blank">APM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/Q1%202022%20Investor%20Letter%20-%20Final.pdf">Praetorian Capital </a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-commentary-2022-03.pdf?sfvrsn=b42909d_4">FPA Crescent Fund</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-qr-small-cap-value-fund-commentary-2022-q1.pdf?sfvrsn=8a4b909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2022-Q1-Aikya-letter.pdf">Aikya Funds</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1WM3rALdle5NhFgpyZF2jcNIXWe73VkYp/view">Tidefall Capital Management</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20220331.pdf">Rondure Global</a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlightcapital.com/saltlight-snn-worldwide-flexible-fund-investor-letter-1q22/">Saltlight Capital </a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/6282f5aca591b577f04a2bef/1652749741615/Bonsai+Partners+Fund+Q1+2022+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/ESTC" target="_blank">ESTC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://4043042.fs1.hubspotusercontent-na1.net/hubfs/4043042/Content%20Offers/2022.Q1%20Commentary/2022.Q1%20GR%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/_files/ugd/3b0d6d_28e86645644f4099b5b411a3025eaa0e.pdf">Saga Partners</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/RDFN " target="_blank">RDFN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1TAGBJGoJzWm4JG4ubsb4vXyV72RBenz3/view">Andaz Private Investments</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/05/DKAM-ROE-Reporter-April-2022-Final-.pdf">Donville Kent Asset Management</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/EHMEF " target="_blank">EHMEF </a><a href="https://roic.ai/company/GIVX.TO " target="_blank">GIVX.TO </a><a href="https://roic.ai/company/VHIBF " target="_blank">VHIBF </a><a href="https://roic.ai/company/CTSDF" target="_blank">CTSDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2022-Q1.pdf">Hayden Capital</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-q1.pdf?sfvrsn=7b4d909d_6">FPA U.S. Core Equity Fund</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/627182cef9390517a0bdfe5f/1651606222430/Maran+Partners+Fund+LP+2022+1Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/1Q22%20-%20FV.html">Bireme Capital</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/CGEAF " target="_blank">CGEAF </a><a href="https://roic.ai/company/FB" target="_blank">FB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/627419a4d25dbf262c894fbd/1651775908325/2022.Q1+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/CTTZF " target="_blank">CTTZF </a><a href="https://roic.ai/company/SMNEY " target="_blank">SMNEY </a><a href="https://roic.ai/company/LUCRF " target="_blank">LUCRF </a><a href="https://roic.ai/company/IVPAF " target="_blank">IVPAF </a><a href="https://roic.ai/company/AOIFF" target="_blank">AOIFF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=2cf5241e3e">Argosy Investors</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/VZIO " target="_blank">VZIO </a><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/IS" target="_blank">IS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-1q-2022-partner-letter-wl2T621Y">Artko Capital</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/GOED WS " target="_blank">GOED WS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">4th Quarter 2021</span>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/01/QUARTERLY-REPORT-December-2021-Web.pdf">East72 Holdings</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/ARKK" target="_blank">ARKK </a><a href="https://roic.ai/company/YBRHF" target="_blank">YBRHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_68_en.pdf">Vltava Fund</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/SBRCY " target="_blank">SBRCY </a><a href="https://roic.ai/company/BMWYY " target="_blank">BMWYY </a><a href="https://roic.ai/company/LH" target="_blank">LH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/61d3a86180af5560d2fc9f5e/1641261154076/Q42021.pdf">Comus Investments</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/01/STJIC-Adviser-Letter-2021-Q4.pdf">St. James Investment Company </a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_66728216a304405b84fd411d2f30a550.pdf">Palm Valley Capital Fund</a></td><td width="13%">1/09/2022</td><td width="39%"><a href="https://roic.ai/company/AGI " target="_blank">AGI </a><a href="https://roic.ai/company/DRQ " target="_blank">DRQ </a><a href="https://roic.ai/company/CRD-A " target="_blank">CRD-A </a><a href="https://roic.ai/company/WHGLY" target="_blank">WHGLY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/ec7645_e919e84dd8a844a18b04f9f24876b2fb.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">1/12/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20211231.pdf">FMI All Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20211231.pdf">FMI International Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20211231.pdf">FMI Large Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20211231.pdf">FMI Small Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/01/Akre-Focus-Fund-Quarterly-Commentary-2021-Q4.pdf#page=1">Akre Focus Fund</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">1/14/2022</td><td width="39%"><a href="https://roic.ai/company/TFX" target="_blank">TFX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">1/14/2022</td><td width="39%"><a href="https://roic.ai/company/TFX" target="_blank">TFX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q4-2021-letter">Andvari Associates</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/MA " target="_blank">MA </a><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/NOVT" target="_blank">NOVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-12.31.21.pdf">Baron Asset Fund</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-12.31.21.pdf">Baron Discovery Fund</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/BYD " target="_blank">BYD </a><a href="https://roic.ai/company/ENFN " target="_blank">ENFN </a><a href="https://roic.ai/company/BASE" target="_blank">BASE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_ff750f7afc8b4601a14ea1571b376bfc.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/TSCO " target="_blank">TSCO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-12.31.21.pdf">Baron Real Estate Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-12.31.21.pdf">Baron Health Care Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/AZN " target="_blank">AZN </a><a href="https://roic.ai/company/MCK " target="_blank">MCK </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/61df939be19b8f24cc253228/1642042267535/Q4+2021+Letter.pdf">Curreen Capital</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/AMD " target="_blank">AMD </a><a href="https://roic.ai/company/VCRA " target="_blank">VCRA </a><a href="https://roic.ai/company/BILL " target="_blank">BILL </a><a href="https://roic.ai/company/TASK " target="_blank">TASK </a><a href="https://roic.ai/company/BSY" target="_blank">BSY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/UPST " target="_blank">UPST </a><a href="https://roic.ai/company/MQ" target="_blank">MQ</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/SBNY " target="_blank">SBNY </a><a href="https://roic.ai/company/MEG " target="_blank">MEG </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/EVBG" target="_blank">EVBG</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q4.pdf">Alphyn Capital Management</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/OACB " target="_blank">OACB </a><a href="https://roic.ai/company/WANSF " target="_blank">WANSF </a><a href="https://roic.ai/company/W" target="_blank">W</a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2021/">Oakmark Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/WTW " target="_blank">WTW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2021/">Oakmark Global Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2021/">Oakmark Global Select Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-fourth-quarter-2021/">Oakmark International Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2021/">Oakmark Select Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/020149e8628527512acbfb43b/files/031c3cdc-d04b-09f3-5081-900e3c1555bd/Tollymore_letters_to_partners_Dec_2021.pdf">Tollymore Investment Partners</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/61e3d61d963af533b3d8f01c/1642321437303/2021+Q4.pdf">Blue Tower Asset Management</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/PPG" target="_blank">PPG </a><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/DLTR" target="_blank">DLTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/CCBG " target="_blank">CCBG </a><a href="https://roic.ai/company/PRGO " target="_blank">PRGO </a><a href="https://roic.ai/company/BRY " target="_blank">BRY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/TRS " target="_blank">TRS </a><a href="https://roic.ai/company/KN " target="_blank">KN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/CVS" target="_blank">CVS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/LOW " target="_blank">LOW </a><a href="https://roic.ai/company/BDX " target="_blank">BDX </a><a href="https://roic.ai/company/NVS " target="_blank">NVS </a><a href="https://roic.ai/company/FISV " target="_blank">FISV </a><a href="https://roic.ai/company/V" target="_blank">V </a><a href="https://roic.ai/company/BKI " target="_blank">BKI </a><a href="https://roic.ai/company/PH" target="_blank">PH</a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BKI " target="_blank">BKI </a><a href="https://roic.ai/company/MKSI " target="_blank">MKSI </a><a href="https://roic.ai/company/DLTR" target="_blank">DLTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/NEWR " target="_blank">NEWR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblecapital.com/wp-content/uploads/2022/01/ECM-Quarterly-Letter-4Q21.pdf">Ensemble Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BL " target="_blank">BL </a><a href="https://roic.ai/company/COST " target="_blank">COST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/61ddf8db43fdcd2d6b033b4b/1641937116559/NZS+Capital+Q4+2021+Letter.pdf">NZS Capital</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3117">Miller/Howard Investments</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/INV " target="_blank">INV </a><a href="https://roic.ai/company/CTT " target="_blank">CTT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BATRA " target="_blank">BATRA </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/FRPH " target="_blank">FRPH </a><a href="https://roic.ai/company/FPH " target="_blank">FPH </a><a href="https://roic.ai/company/IVT" target="_blank">IVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/01/Q4-2021-Letter.pdf">Distillate Capital</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_d59e5529852440a9a9ce67ff4be178ba.pdf">Old West Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/PINS " target="_blank">PINS </a><a href="https://roic.ai/company/TWTR " target="_blank">TWTR </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/SQ " target="_blank">SQ </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/SOFI " target="_blank">SOFI </a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_4Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/61e88024ea403840e2631912/1642627109448/Upslope+-+2021Q4+Letter.pdf">Upslope Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/MKTX " target="_blank">MKTX </a><a href="https://roic.ai/company/CASY" target="_blank">CASY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/01/Alluvial-Capital-Management-Q4-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/LICT " target="_blank">LICT </a><a href="https://roic.ai/company/CRAWA " target="_blank">CRAWA </a><a href="https://roic.ai/company/GTX " target="_blank">GTX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/TIMB " target="_blank">TIM.WSE</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/4q21_scv_commentary__final_.pdf">Bernzott Capital Advisors</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/WSC " target="_blank">WSC </a><a href="https://roic.ai/company/HI " target="_blank">HI </a><a href="https://roic.ai/company/UPLD " target="_blank">UPLD </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/JR" target="_blank">JRVR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/01/4Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/CPRI " target="_blank">CPRI </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/EVBG " target="_blank">EVBG </a><a href="https://roic.ai/company/GENI " target="_blank">GENI </a><a href="https://roic.ai/company/HSKA" target="_blank">HSKA</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/61e1a8df7c45833bf347b6e2/1642178783496/2021.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/GSL " target="_blank">GSL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2021.pdf">L1 Capital Long Short Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/01/L1-International-Fund-December-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/CRH" target="_blank">CRH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-12.31.21_1.pdf">Baron Small Cap Fund</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/SG" target="_blank">SG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-12.31.21.pdf">Baron Growth Fund</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/MIR " target="_blank">MIR </a><a href="https://roic.ai/company/SG " target="_blank">SG </a><a href="https://roic.ai/company/WRBY" target="_blank">WRBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-2021-year-end-letter">Rowan Street Capital</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/DOCU " target="_blank">DOCU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2021Q4NP.pdf">Hoisington Investment Management</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/4q2021-commentary">Whitebrook Capital</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_00e46e69dc984559a5f36c6ac0019842.pdf">Merion Road Capital</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/ATVI " target="_blank">ATVI </a><a href="https://roic.ai/company/LEAT " target="_blank">LEAT </a><a href="https://roic.ai/company/LNSR " target="_blank">LNSR </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/61ec866c184e8c17755464c9/1642890860567/Nordstern+Capital+4Q2021+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/STNE" target="_blank">STNE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DOCU" target="_blank">DOCU</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2021.pdf">Polen Capital - Global Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/ADSK " target="_blank">ADSK </a><a href="https://roic.ai/company/V" target="_blank">V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2021.pdf">Polen Capital - International Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTKX-APDKX-APHKX-QCommentary-4Q21-vR.pdf">Artisan International Value Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/WTW " target="_blank">WTW </a><a href="https://roic.ai/company/ASBFY" target="_blank">ASBFY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTMX-APDMX-APHMX-QCommentary-4Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTSX-APDSX-APHSX-QCommentary-4Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/IRTC " target="_blank">IRTC </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/WK " target="_blank">WK </a><a href="https://roic.ai/company/BIGC" target="_blank">BIGC</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTLX-APDLX-APHLX-QCommentary-4Q21-vR.pdf">Artisan Value Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/DIS" target="_blank">DIS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2022/01/PzenaNewsletter-Commentary-4Q21.pdf">Pzena Investment Management</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/61eb18135e28e93a1b989a12/1642797076632/GCAM+2021+Q4+letter+.pdf">Giverny Capital Asset Management</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202112/Commentary-Small-Cap-Fund-2021-12-31.pdf?c=637787374490000000">Diamond Hill Small Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/RHP " target="_blank">RHP </a><a href="https://roic.ai/company/ERII " target="_blank">ERII </a><a href="https://roic.ai/company/JOUT " target="_blank">JOUT </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/deep-value-strategy-4q21-letter/">Miller Deep Value</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/ENDP " target="_blank">ENDP </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/CNDT " target="_blank">CNDT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1643292697477">Miller Income Strategy</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/APO " target="_blank">APO </a><a href="https://roic.ai/company/SCU " target="_blank">SCU </a><a href="https://roic.ai/company/SBRCY " target="_blank">SBRCY </a><a href="https://roic.ai/company/OMF" target="_blank">OMF</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/opportunity-equity-4q21-letter/">Miller Opportunity Equity</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/TMHC " target="_blank">TMHC </a><a href="https://roic.ai/company/MTTR " target="_blank">MTTR </a><a href="https://roic.ai/company/FANG " target="_blank">FANG </a><a href="https://roic.ai/company/SFIX " target="_blank">SFIX </a><a href="https://roic.ai/company/SPLK " target="_blank">SPLK </a><a href="https://roic.ai/company/NCLH" target="_blank">NCLH</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/2021-Annual-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/NOTV " target="_blank">NOTV </a><a href="https://roic.ai/company/UFPT " target="_blank">UFPT </a><a href="https://roic.ai/company/UTMD" target="_blank">UTMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_01_18.pdf">Myrmikan Research</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637787358840000000">Weitz Hickory Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637787358840000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637787358840000000">Weitz Partners Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637787358840000000">Weitz Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1Nb2a7A-4S588IJtN5UVTb2Q_urhCnaNX/view">Greenlight Capital</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/BHF " target="_blank">BHF </a><a href="https://roic.ai/company/TECK " target="_blank">TECK </a><a href="https://roic.ai/company/DNMR " target="_blank">DNMR </a><a href="https://roic.ai/company/GPN " target="_blank">GPN </a><a href="https://roic.ai/company/CPRI " target="_blank">CPRI </a><a href="https://roic.ai/company/GLPG " target="_blank">GLPG </a><a href="https://roic.ai/company/ODP" target="_blank">ODP</a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/AMG " target="_blank">AMG </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/BIIB " target="_blank">BIIB </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/H " target="_blank">H </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/WMB " target="_blank">WMB </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/BIIB " target="_blank">BIIB </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CFRUY " target="_blank">CFRUY </a><a href="https://roic.ai/company/DPZ " target="_blank">DPZ </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CNX " target="_blank">CNX </a><a href="https://roic.ai/company/RLGY " target="_blank">RLGY </a><a href="https://roic.ai/company/MAT " target="_blank">MAT </a><a href="https://roic.ai/company/RNR " target="_blank">RNR </a><a href="https://roic.ai/company/IDRSF " target="_blank">IDRSF </a><a href="https://roic.ai/company/LNXSF " target="_blank">LNXSF </a><a href="https://roic.ai/company/KODK" target="_blank">KODK</a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202112.pdf">Bronte Capital</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/61e5e320b5857c262626e510/1642455841875/4Q21+letter.pdf">Long Cast Advisers </a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/AIMFF " target="_blank">AIMFF </a><a href="https://roic.ai/company/SNES " target="_blank">SNES </a><a href="https://roic.ai/company/SOTK " target="_blank">SOTK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/HL-EM-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CCHGY " target="_blank">CCHGY </a><a href="https://roic.ai/company/MGLUY " target="_blank">MGLUY </a><a href="https://roic.ai/company/XP " target="_blank">XP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/HL-Global-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Global Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/MELI" target="_blank">MELI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/HL-Global-Small-Cos-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/SLP " target="_blank">SLP </a><a href="https://roic.ai/company/ALTR " target="_blank">ALTR </a><a href="https://roic.ai/company/NEMTF " target="_blank">NEMTF </a><a href="https://roic.ai/company/ABMD" target="_blank">ABMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IADR/2021/HL-Intl-Equity-ADR-Quarterly-Report-4Q21.pdf">Harding Loevner International Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/HL-Intl-Small-Cos-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/MHSDF" target="_blank">MHSDF</a><a href="https://roic.ai/company/LZRFY " target="_blank">LZRFY </a><a href="https://roic.ai/company/VACNY " target="_blank">VACNY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2022/01/2021-12-December-Investor-Update.pdf">LRT Capital</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/WSO" target="_blank">WSO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_05e73048c3af46bfa6ed0f81e0f43a29.pdf">Arch Capital Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/SFM " target="_blank">SFM </a><a href="https://roic.ai/company/NNI " target="_blank">NNI </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/HRBR" target="_blank">HRBR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/825e7129-c367-9868-11ed-115b47c755b7/December_2021_Investor_Letter_The_Hidden_Taxvfin.pdf">Richie Capital Group</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/FREE " target="_blank">FREE </a><a href="https://roic.ai/company/AVGO " target="_blank">AVGO </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/ABT " target="_blank">ABT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/2022/01/15235630/Fundsmith-Equity-Funds-Q4-2021-Investor-Letter.pdf">Fundsmith Equity Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/MORN " target="_blank">MORN </a><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/OLLI " target="_blank">OLLI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/TRNS " target="_blank">TRNS </a><a href="https://roic.ai/company/NPTN " target="_blank">NPTN </a><a href="https://roic.ai/company/CCXI " target="_blank">CCXI </a><a href="https://roic.ai/company/MSGM " target="_blank">MSGM </a><a href="https://roic.ai/company/CSTL " target="_blank">CSTL </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/RDVT " target="_blank">RDVT </a><a href="https://roic.ai/company/BWMN " target="_blank">BWMN </a><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/ASPU " target="_blank">ASPU </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/TCDM " target="_blank">TCDM </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/BOOT " target="_blank">BOOT </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/MEDP " target="_blank">MEDP </a><a href="https://roic.ai/company/FRPT " target="_blank">FRPT </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/HQY" target="_blank">HQY</a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/CCXI " target="_blank">CCXI </a><a href="https://roic.ai/company/NVMI " target="_blank">NVMI </a><a href="https://roic.ai/company/FRPT " target="_blank">FRPT </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/CSTL" target="_blank">CSTL</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20211231.pdf">Rondure Global</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2021Q4.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Amana-Q4-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.turtlecreek.ca/wp-content/uploads/2022/01/Turtle-Creek-Quarterly-Commentary-2021-Q4.pdf">Turtle Creek</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=5ad662b014">Argosy Investors</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/LESL " target="_blank">LESL </a><a href="https://roic.ai/company/AGIL " target="_blank">AGIL </a><a href="https://roic.ai/company/CURV " target="_blank">CURV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://img1.wsimg.com/blobby/go/ee65fbd7-2d89-48b3-83e6-be9864c38c3b/downloads/2022%20Nitor%20Capital%20Management%20Annual%20Letter.pdf?ver=1643209078495">Nitor Capital</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/VST " target="_blank">VST </a><a href="https://roic.ai/company/CF " target="_blank">CF </a><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/61f4601ca0cc3227736bf76f/1643405340863/Greenhaven+Road+%282021+Q4%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/TDOC " target="_blank">TDOC </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/61f8b8cf6faed02fd91ec060/1643690191597/Q4+2021+Alta+Fox+Capital+Quarterly+Letter+-+final.pdf">Alta Fox Capital Management</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/IDT" target="_blank">IDT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/61f9cf7a3d4ef81723c5b357/1643761530528/Q4+2021+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/SODI " target="_blank">SODI </a><a href="https://roic.ai/company/PCHM " target="_blank">PCHM </a><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/WCRS" target="_blank">WCRS</a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/4Q21%20-%20FV.html">Bireme Capital</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/AFRM " target="_blank">AFRM </a><a href="https://roic.ai/company/TME " target="_blank">TME </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/02/HCM-Q4-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/CRNC" target="_blank">CRNC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-4Q2021.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/TME" target="_blank">TME</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary-4Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q4-Aikya-letter.pdf">Aikya Funds</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.firsteagle.com/FE-Global-Value-Team-Annual-Letter-2021_US">First Eagle Global Value</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/02/2021Q4-Commentary.pdf">Palm Capital</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/CRM" target="_blank">CRM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1KWg62-kXpSHzM2CGUzqlIA-6NFEERsOp/view">Andaz Private Investments</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/RKT " target="_blank">RKT </a><a href="https://roic.ai/company/XLNX " target="_blank">XLNX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/post/investor-letter-h2-2021">Saga Partners</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/RDFN" target="_blank">RDFN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/ypwx12sh2oxixmw/2021_CTG_InvestorLetter_III%20%28yr%20end%29.pdf?dl=0">Canterbury Tollgate</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/02/DKAM-ROE-Reporter-January-2022.pdf">Donville Kent Asset Management</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/NGMS " target="_blank">NGMS </a><a href="https://roic.ai/company/GIVX.TO" target="_blank">GIVX.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2022/02/Greystone-Capital-Q4-2021-Letter.pdf">Greystone Capital Management</a></td><td width="13%">2/07/2022</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/ID " target="_blank">ID </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/IDT" target="_blank">IDT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/84ecef49-45e5-424c-1d06-7450ff480952/Fourth_Quarter_2021_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="13%">2/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/62025b581b92b1229ea34236/1644321624479/Q4%2721+letter.pdf">1 Main Capital Partners</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/61f704c1f0e77848cc88879f/1643578562345/Maran+Partners+Fund+LP+2021+4Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/CDRE" target="_blank">CDRE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-12.31.21.pdf">Baron FinTech Fund</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/LPLA " target="_blank">LPLA </a><a href="https://roic.ai/company/EXFY" target="_blank">EXFY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-12.31.21.pdf">Baron Partners Fund</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1ckJEI9udIXZDWQ_jpwjUhnq1iTVWn0YI/view">Tidefall Capital Management</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/FFXDF" target="_blank">FFXDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2021.pdf">Evermore Global Value Fund</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmharbourcapital.com/files/PHC%20Letter%20Q4%202021-FINAL_EN.pdf">Palm Harbour Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/OCINF " target="_blank">OCINF </a><a href="https://roic.ai/company/GEAHF " target="_blank">GEAHF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/62050baea91a235dd67c8baa/1644497838872/Laughing+Water+Capital+YE+2021.pdf">Laughing Water Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/TACT" target="_blank">TACT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/caafeb57-9e30-8af0-e660-6464ae971825/Steel_City_Capital_4Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/GDOT " target="_blank">GDOT </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/SXC" target="_blank">SXC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202021%20Final.pdf">Tweedy Browne</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/VRTX " target="_blank">VRTX </a><a href="https://roic.ai/company/RBSFY " target="_blank">RBSFY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1NjbvXcjfNGinPg7Y3YySMQde4oN8gHjd/view">MPE Capital</a></td><td width="13%">2/11/2022</td><td width="39%"><a href="https://roic.ai/company/SQSP" target="_blank">SQSP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_d8d3433827ac482ea4648323a2e6ecdf.pdf">Emeth Value Capital</a></td><td width="13%">2/12/2022</td><td width="39%"><a href="https://roic.ai/company/BUR" target="_blank">BUR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://srk-capital.com/content_files/2022/02/SRK-Fund-H2-2021-Letter.pdf">SRK Capital</a></td><td width="13%">2/12/2022</td><td width="39%"><a href="https://roic.ai/company/HROW " target="_blank">HROW </a><a href="https://roic.ai/company/TTSH " target="_blank">TTSH </a><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/PYCFF " target="_blank">PYCFF </a><a href="https://roic.ai/company/RTMAF " target="_blank">RTMAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/mindset-value-cannabis-fund-year">Mindset Value Cannabis Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/VRNOF " target="_blank">VRNOF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fs.hubspotusercontent00.net/hubfs/6004402/Quarterly%20Letters/2021/2021%20Q4%20Investor%20Letter%20-%20Final.pdf">Praetorian Capital </a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/LEE " target="_blank">LEE </a><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q4-2021-Quarterly-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-12.31.21.pdf">Baron Opportunity Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/MRTX " target="_blank">MRTX </a><a href="https://roic.ai/company/CTV " target="_blank">CTV </a><a href="https://roic.ai/company/FIGS " target="_blank">FIGS </a><a href="https://roic.ai/company/SHOP" target="_blank">SHOP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SaltLight_Letter_4Q21.pdf">Saltlight Capital </a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q4.pdf?sfvrsn=ec17909d_6">FPA Crescent Fund</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/02/Epoch-Quarterly-Newsletter_January-2022.pdf">Epoch Investment Partners</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lucacap.com/_files/ugd/f50b59_1915e17451f345ce963f4a53ececbb78.pdf">Luca Capital</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q4.pdf">Hayden Capital</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/SE" target="_blank">SE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lyricalam.com/wp-content/uploads/2022/01/LAM-2021-U.S.-Review-letter-1.pdf">Lyrical Asset Management</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2021-annual-partner-letter-wBqTRnab">Artko Capital</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/GAIA " target="_blank">GAIA </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/NTIC " target="_blank">PBPB</a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2022/02/2021-Year-End-Commentary_FINAL.pdf">RGA Investment Advisors</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/SFIX " target="_blank">SFIX </a><a href="https://roic.ai/company/ROKU " target="_blank">ROKU </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/DBX " target="_blank">DBX </a><a href="https://roic.ai/company/TWTR " target="_blank">TWTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2022/02/bumbershoot-holdings-e28094-2022-2-feb-e28094-letter-to-partners-e28094-2021.pdf">Bumbershoot Holdings</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.broyhillasset.com/wp-content/uploads/2022/02/The-Broyhill-Letter-2021.Q4.pdf?ct=t(RSS_EMAIL_CAMPAIGN)&mc_cid=70cf4a1313&mc_eid=67cf7be10e">Broyhill Asset Management</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/CAR " target="_blank">CAR </a><a href="https://roic.ai/company/DLTR " target="_blank">DLTR </a><a href="https://roic.ai/company/MCK " target="_blank">MCK </a><a href="https://roic.ai/company/ABEV " target="_blank">ABEV </a><a href="https://roic.ai/company/BUD " target="_blank">BUD </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wormcapital.com/the-wormhole-source/q4-2021">Worm Capital</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2021-q4.pdf?sfvrsn=601e909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://taovalue.files.wordpress.com/2022/02/taovalue_2021_q4_final.pdf">Tao Value</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_4Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/TSCO " target="_blank">TSCO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Trust Funds</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/REZI " target="_blank">REZI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/621d8a9deabea5384d671d4b/1646103197454/2021+Q4_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/AVYA " target="_blank">AVYA </a><a href="https://roic.ai/company/OLN " target="_blank">OLN </a><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/MT " target="_blank">MT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/4b290b05-2ad7-5453-0d81-972ecbfe0df0/Rhizome_Partners_Q4_2021_Investor_Letter_Final_w_CP.pdf">Rhizome Partners</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/FRP " target="_blank">FRP </a><a href="https://roic.ai/company/HHC " target="_blank">HHC </a><a href="https://roic.ai/company/INDT " target="_blank">INDT </a><a href="https://roic.ai/company/CLPR" target="_blank">CLPR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2022/02/VVP-Annual-Letter-21.12.31.pdf">Vulcan Value Partners</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q4%20Commentary/2021.Q4%20GR%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<div><span style="font-size: large;"><br /></span></div><p></p><span style="font-size: large;">3rd Quarter 2021</span><br /><hr /><div><br /></div><div><br /></div><div>
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
</thead>
<tbody>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2021/10/QUARTERLY-REPORT-September-2021-WEB.pdf">East72 Holdings</a></td><td width="15%">10/08/2021</td><td width="39%">$ANSLY, $APPEF, $BOWX, $FRPH, $MAC, $LLC.AX</td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_67_en.pdf">Vltava Fund</a></td><td width="13%">10/08/2021</td><td width="39%">$WLTW</td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4518141/3rd%20Qtr%20Letter%20to%20Investors.pdf?__hstc=85836102.23c8f3e82a968957555abbebcad8e401.1633718563683.1633718563683.1633718563683.1&__hssc=85836102.1.1633718563684&__hsfp=2220563331&hsCtaTracking=f20d68ce-ba35-4ab5-8a9f-28c064d8d62e%7C38129298-76e6-4b80-827d-347d188cad6d">Massif Capital</a></td><td width="13%">10/08/2021</td><td width="39%">$SBLK</td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/10/HCM-Q3-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">10/08/2021</td><td width="39%">$SPSC, $FICO, $TRNS</td></tr>
<tr><td width="48%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_78696aa87a57428b8dc7e1d59a24f061.pdf">Palm Valley Capital Fund</a></td><td width="13%">10/09/2021</td><td width="39%">$THS, $TRFPF, $AMRK, $WHGLY</td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2021/10/STJIC-Adviser-Letter-2021-Q3-Final.pdf">St. James Investment Company </a></td><td width="13%">10/09/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/3bd743d8-12f8-fdff-fe90-0c8fbcc891da/September_2021_Investor_Letter_When_Everyone_is_in_Agreement_vfin.01.pdf">Richie Capital Group</a></td><td width="13%">10/11/2021</td><td width="39%">$FICO, $FREE, $INS, $MSCI</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/615770080d5db77b4d03451a/1633120265649/Q32021.pdf">Comus Investments</a></td><td width="13%">10/11/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6163cca8834694462ec5bf6c/1633930408143/2021+Q3.pdf">Blue Tower Asset Management</a></td><td width="13%">10/12/2021</td><td width="39%">$3723.T</td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_7edda3c956ef433dbbc1c1499ad03904.pdf">Wedgewood Partners</a></td><td width="13%">10/13/2021</td><td width="39%">$MSI, $UNH</td></tr>
<tr><td width="48%"><a href="https://dmzpartners.in/Documents/Files/DMZ-6993-DMZ-Partners-Semi-Annual-Letter-FY21-22.pdf">DMZ Partners</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210930.pdf">FMI All Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210930.pdf">FMI International Equity</a></td><td width="13%">10/14/2021</td><td width="39%">$RXLSF, $4403.T</td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210930.pdf">FMI Large Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210930.pdf">FMI Small Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%">$PCAR, $BRKB</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/616997337f463661f6409b2e/1634309939204/Q3+2021+Letter.pdf">Curreen Capital</a></td><td width="13%">10/15/2021</td><td width="39%">$JXN, $MIC</td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">10/15/2021</td><td width="39%">$RYAN, $CSGP</td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">10/15/2021</td><td width="39%">$BKR, $EOG</td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">10/15/2021</td><td width="39%">$AMZN, $ADI, $PPG, $TEL</td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/60e7cf14d93aeb546a13eaf3/1625804565827/Quarterly+Letter+-+Q3+2020.pdf">Worm Capital</a></td><td width="13%">10/16/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_70053807908848a9826c9af71f82c210.pdf">Merion Road Capital</a></td><td width="13%">10/16/2021</td><td width="39%">$BLDR, $RCKY</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/3Q21-Mid-Cap-Comm">Heartland Mid Cap Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$CBOE, $EXC, $SPB</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/3Q21-Value-Fund-Comm">Heartland Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$CVLG, $BBBY, $BRY</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/3Q21-VP-Comm">Heartland Value Plus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$POR, $FCFS, $HAE</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$INMD, $GXO, $UPST, $RNLX, $GENI, $PINS</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$RGEN, $MPWR, $PAYC, $CDNA, $SHAK, $NVRO</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$UPST, $GOOG, $MSFT, $ROKU, $PINS, $PYPL</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$UPST, $PCTY, $GLOB, $OLLI, $NVRO, $CLB</td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/3Q21-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$NTOV, $ELMD</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-letter-9.30.21.pdf">Baron Growth Fund</a></td><td width="13%">10/17/2021</td><td width="39%">$VLD, $DNUT, $SMRT</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-9.30.21.pdf">Baron Real Estate Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-9.30.21.pdf">Baron Health Care Fund</a></td><td width="13%">10/17/2021</td><td width="39%">$NTRA, $GDRX, $MRTX, $STVN</td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2021/">Oakmark Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2021/">Oakmark Global Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-third-quarter-2021/">Oakmark Global Select Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-third-quarter-2021/">Oakmark International Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-third-quarter-2021/">Oakmark International Small Cap Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2021/">Oakmark Select Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3091">Miller/Howard Investments</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/616748eb5c9562698ee55a81/1634158828217/NZS+Capital+Q3+2021+Letter+Final.pdf">NZS Capital</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$APTS, $WARFY, $</td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$MSGE</td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$BMWYY, $DDAIF, $BKRIF, $DB, $CSFFF, $LUNMF</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/616d53174eca1923cfcd5120/1634554647983/Upslope+-+2021Q3+Letter.pdf">Upslope Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$TCHBF, $BWXT</td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-q3-2021-letter">Rowan Street Capital</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_ee97904c9eeb422b94eafdc01a59a79d.pdf">Old West Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$FLGT</td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2021/10/Q3-2021-Letter.pdf">Distillate Capital</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q3.pdf">Alphyn Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$PSTH, $CSPLF, $CRSS, $CFX, $NPSNY, $PROSY, $TCEHY</td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/third-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="13%">10/20/2021</td><td width="39%">$BKNG, $LSTR</td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2021/10/3Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">10/20/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_09_30_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="13%">10/20/2021</td><td width="39%">$ATIP, $VNOM</td></tr>
<tr><td width="48%"><a href="https://www.docdroid.net/IwyWM87/qlet2021-03-3-1-1-pdf">Greenlight Capital</a></td><td width="13%">10/20/2021</td><td width="39%">$GRBK, $BHF, $CSPLF $SONO</td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$DISCK</td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$RNR</td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2021Q3NP.pdf">Hoisington Investment Management</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/3q2021-commentary">Whitebrook Capital</a></td><td width="13%">10/21/2021</td><td width="39%">$QRTEA</td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2021/10/L1-International-Fund-Sep-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$TXN</td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2021.pdf">L1 Capital Long Short Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q3-CVALUE-Review_FINAL-1.pdf">Horizon Kinetics</a></td><td width="13%">10/23/2021</td><td width="39%">$LNG, $TPL</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-letter-9.30.21.pdf">Baron Discovery Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$BASE, $SMRT, $MCG, $FORG, $QLYS</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-9.30.21.pdf">Baron Asset Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$HUBS</td></tr>
<tr><td width="48%"><a href="https://arisaig.com/wp-content/uploads/2021/10/Arisaig-Quarterly-October-2021.pdf">Arisaig Partners</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/6171ac247c6fe3670903e719/1634839592319/Kinsman+Oak+-+Q3+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$RICK</td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="13%">10/23/2021</td><td width="39%">$ABNB</td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2021.pdf">Polen Capital - Global Growth</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2021.pdf">Polen Capital - International Growth</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202109.pdf">Bronte Capital</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q3-Aikya-letter-Investment-Update-Autumn-2021.pdf">Aikya Funds</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2021_10_15.pdf">Myrmikan Research</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/september-performance-estimates/">Crestcat Capital</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2021/10/PzenaNewsletter-Commentary-3Q21-1.pdf">Pzena Investment Management</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202109/Commentary-Small-Cap-Fund-2021-09-30.pdf?c=637705371690000000">Diamond Hill Small Cap Fund</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2021/10/Akre-Focus-Fund-Quarterly-Commentary-2021-Q3.pdf#page=1">Akre Focus Fund</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20210930.pdf">Rondure Global</a></td><td width="13%">10/23/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTMX-APDMX-APHMX-QCommentary-3Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/NEO " target="_blank">NEO </a><a href="https://roic.ai/company/MQ " target="_blank">MQ </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/CDAY " target="_blank">CDAY </a><a href="https://roic.ai/company/ENTG" target="_blank">ENTG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTKX-APDKX-APHKX-QCommentary-3Q21-vR.pdf">Artisan International Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637705452170000000">Weitz Hickory Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637705452170000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637705452170000000">Weitz Partners Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637705452170000000">Weitz Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/6170313de7824974acd905cb/1634742589280/GCAM+Q3-2021+letter.pdf">Giverny Capital Asset Management</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/IIVI" target="_blank">IIVI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=0a903ea1f5">Argosy Investors</a></td><td width="13%">10/25/2021</td><td width="39%"><a href="https://roic.ai/company/DFH " target="_blank">DFH </a><a href="https://roic.ai/company/GO " target="_blank">GO </a><a href="https://roic.ai/company/RRTS " target="_blank">RRTS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd315918c-9729-4e3e-98ca-aac08ad53229_1928x2494.png">Tidefall Capital Management</a></td><td width="13%">10/25/2021</td><td width="39%"><a href="https://roic.ai/company/FRFHF" target="_blank">FRFHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">10/26/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-3Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">10/26/2021</td><td width="39%"><a href="https://roic.ai/company/OLO" target="_blank">OLO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://taovalue.files.wordpress.com/2021/10/taovalue_2021_q3_final.pdf">Tao Value</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/RBLX" target="_blank">RBLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/617c36009692b75c50af7c04/1635530240599/Q3+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_GlobalValueTeam_Commentary.pdf">First Eagle Global Value</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/10/VVP-Quarterly-Letter-21.09.30.pdf">Vulcan Value Partners</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/LRCX " target="_blank">LRCX </a><a href="https://roic.ai/company/UPST " target="_blank">UPST </a><a href="https://roic.ai/company/AMAT" target="_blank">AMAT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q3.pdf?sfvrsn=f7db919d_6">FPA Crescent Fund</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1635549282596">Miller Opportunity Equity</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/GM " target="_blank">GM </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/MTTR " target="_blank">MTTR </a><a href="https://roic.ai/company/WW " target="_blank">WW </a><a href="https://roic.ai/company/VRM " target="_blank">VRM </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1635549972885">Miller Income Strategy</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/VALE " target="_blank">VALE </a><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/10/2021-09-September-Investor-Update.pdf">LRT Capital</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/TSCO" target="_blank">TSCO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_3a862abe12ef49a3a6ed24ad0e544622.pdf">Luca Capital</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/10/Greystone-Capital-Q3-2021-Letter.pdf">Greystone Capital Management</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2021/10/Epoch-Quarterly-Newsletter_October-2021.pdf">Epoch Investment Partners</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/DXCM " target="_blank">DXCM </a><a href="https://roic.ai/company/SNOW " target="_blank">SNOW </a><a href="https://roic.ai/company/TWLO " target="_blank">TWLO </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/EXAS " target="_blank">EXAS </a><a href="https://roic.ai/company/ZG " target="_blank">ZG </a><a href="https://roic.ai/company/SOFI" target="_blank">SOFI</a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_3Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/617ebf28a5fcd26d065ed9a0/1635696424780/Maran+Partners+Fund+LP+2021+3Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/CLAR " target="_blank">CLAR </a><a href="https://roic.ai/company/TPB " target="_blank">TPB </a><a href="https://roic.ai/company/CRSS " target="_blank">CRSS </a><a href="https://roic.ai/company/AOUT" target="_blank">AOUT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/3Q21%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/BOIVF " target="_blank">BOIVF </a><a href="https://roic.ai/company/ORI " target="_blank">ORI </a><a href="https://roic.ai/company/IMBBY" target="_blank">IMBBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/617e856ac0c880691233af57/1635681642905/Q3%2721+letter.pdf">1 Main Capital Partners</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/LMB " target="_blank">LMB </a><a href="https://roic.ai/company/ATIP " target="_blank">ATIP </a><a href="https://roic.ai/company/GREE" target="_blank">GREE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/when-do-you-reevaluate-an-investment">Mindset Value Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q3-2021-letter">Andvari Associates</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/CHE" target="_blank">CHE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-9.30.21.pdf">Baron FinTech Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/WPLCF " target="_blank">WPLCF </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/TOST" target="_blank">TOST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.21.pdf">Baron Partners Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-3Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-3Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-3Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/STAEF " target="_blank">STAEF </a><a href="https://roic.ai/company/ST " target="_blank">ST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-3Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-3Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/10/Alluvial-Capital-Management-Q3-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/CRAWA " target="_blank">CRAWA </a><a href="https://roic.ai/company/LICT " target="_blank">LICT </a><a href="https://roic.ai/company/NUVR " target="_blank">NUVR </a><a href="https://roic.ai/company/WHLR " target="_blank">WHLR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/617c5f708ab5754dbc9ae419/1635540848533/Greenhaven+Road+%282021+Q3%29+Quarterly+Letter%5B21%5D.pdf">Greenhaven Road Capital</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/MKTW" target="_blank">MKTW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2021/11/Q32021-Investment-Commentary_Looking-inward-and-looking-westward.pdf">RGA Investment Advisors</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/KW" target="_blank">KW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2021/11/DKAM-ROE-Reporter-October-2021.pdf">Donville Kent Asset Management</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/PRL.TO " target="_blank">PRL.TO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static.seekingalpha.com/uploads/sa_presentations/847/75847/original.pdf">Tollymore Investment Partners</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/NXGPY " target="_blank">NXGPY </a><a href="https://roic.ai/company/HLFFF " target="_blank">HLFFF </a><a href="https://roic.ai/company/RDBBF" target="_blank">RDBBF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/bec99160-9175-6415-695f-c1f64e5e646e/Steel_City_Capital_3Q_21_Partner_Letter.pdf">Steel City Capital</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/SIGA" target="_blank">SIGA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_3Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="13%">11/04/2021</td><td width="39%"><a href="https://roic.ai/company/MSI " target="_blank">MSI </a><a href="https://roic.ai/company/UNH" target="_blank">UNH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/APFDX-APDDX-APHDX-QCommentary-3Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTSX-APDSX-APHSX-QCommentary-3Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/COMP " target="_blank">COMP </a><a href="https://roic.ai/company/SI " target="_blank">SI </a><a href="https://roic.ai/company/TWOU " target="_blank">TWOU </a><a href="https://roic.ai/company/BTRS " target="_blank">BTRS </a><a href="https://roic.ai/company/OLO" target="_blank">OLO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTLX-APDLX-APHLX-QCommentary-3Q21-vR.pdf">Artisan Value Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Sustainable-Q3-2021-web.pdf">Saturna Capital</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Amana-Q3-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Sextant-Q3-20210930-web.pdf">Saturna Capital - Sextant Funds</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6186d96995befe0544bc22e2/1636227434790/Q3+2021+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/PCHM " target="_blank">PCHM </a><a href="https://roic.ai/company/NNUP" target="_blank">NNUP </a><a href="https://roic.ai/company/DBMG" target="_blank">DBMG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-9.30.21.pdf">Baron Opportunity Fund</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/NRDY " target="_blank">NRDY </a><a href="https://roic.ai/company/TOST " target="_blank">TOST </a><a href="https://roic.ai/company/CDAY" target="_blank">CDAY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-9.30.21.pdf">Baron Small Cap Fund</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/MCG " target="_blank">MCG </a><a href="https://roic.ai/company/SMRT " target="_blank">SMRT </a><a href="https://roic.ai/company/HLLY" target="_blank">HLLY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-3q-2021-partner-letter-w0DTgJKY">Artko Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/HQI" target="_blank">HQI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q3.pdf">Hayden Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/COIN " target="_blank">COIN </a><a href="https://roic.ai/company/ZLPSF" target="_blank">ZLPSF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202021%20Final.pdf">Tweedy Browne</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/hrj7145nzxqor9u/2021_CTG_InvestorLetter_II.pdf?dl=0">Canterbury Tollgate</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1M9lcgQF8GuavsFmPSmyEwmuGqHQekh3t/view">Andaz Private Investments</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.riveroakcapital.se/docs/2021H1-ShareholderLetter-RiverOakCapitalAB.pdf">River Oak Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2021/11/2021Q3-Commentary.pdf">Palm Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/618c1c08863e5466ef40eb3b/1636572168864/3Q21+Final.pdf">Long Cast Advisers </a></td><td width="13%">11/22/2021</td><td width="39%"><a href="https://roic.ai/company/SANW " target="_blank">SANW </a><a href="https://roic.ai/company/PDEX " target="_blank">PDEX </a><a href="https://roic.ai/company/CTEK " target="_blank">CTEK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2021-q3.pdf?sfvrsn=8cde919d_10">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">11/22/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2021/11/2021-Q3-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/FARM " target="_blank">FARM </a><a href="https://roic.ai/company/INVE " target="_blank">INVE </a><a href="https://roic.ai/company/GMS " target="_blank">GMS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/">Ariel Trust Funds</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/BIDU " target="_blank">BIDU </a><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/GNTX" target="_blank">GNTX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.gwinvestors.com/wp-content/uploads/2021.11.23-Q3-Letter-Defense-Offense-Conviction-v4-Clean.pdf">GreenWood Investors</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-3Q21.pdf">Horos Funds</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q3%20Commentary/2021.Q3%20GR_Market_Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SaltLight_Investor_Letter_3Q21.pdf">Saltlight Capital </a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/619ea3551952ea74563e6b13/1637786454976/2021+Q3_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">12/14/2021</td><td width="39%"><a href="https://roic.ai/company/SWIR " target="_blank">SWIR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.turtlecreek.ca/wp-content/uploads/2021/11/Turtle-Creek-Quarterly-Commentary-2021-Q3.pdf">Turtle Creek</a></td><td width="13%">12/14/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<hr /><span style="font-size: large;">2nd Quarter 2021</span><br /><hr /><br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/07/STJIC-Adviser-Letter-2021-Q2-Final.pdf">St. James Investment Company </a></td><td width="15%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://east72.com.au/wp-content/uploads/2021/07/QUARTERLY-REPORT-June-2021-WEB.pdf">East72 Holdings</a></td><td width="10%">7/14/2021</td><td width="40%">$NAM.AX, $SZL.AX</td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_65_en.pdf">Vltava Fund</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/07/HCM-Q2-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="10%">7/14/2021</td><td width="40%">$ABCM</td></tr>
<tr><td width="50%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q2.pdf">Alphyn Capital Management</a></td><td width="10%">7/14/2021</td><td width="40%">$CRSS, $VMEO</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/60e104d88cf4a87ec6121191/1625359578136/Q22021.pdf">Comus Investments</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210630.pdf">FMI All Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210630.pdf">FMI International Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210630.pdf">FMI Large Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210630.pdf">FMI Small Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_a7010caa73484aa79860d446dfa072a3.pdf">Wedgewood Partners</a></td><td width="10%">7/14/2021</td><td width="40%">$CDW, $CPRT, $TSM</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">7/15/2021</td><td width="40%">$PROSY, $0200.HK</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_8c46c9c6e9d44d60a516d5174bda2794.pdf">Palm Valley Capital Fund</a></td><td width="10%">7/15/2021</td><td width="40%">$COG, $VWTR</td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/17j-cxhXk7CoZMnur9D3PlEstPJoENtoL/view">MPE Capital</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/60eef4cdf2ccfc444305a495/1626272975590/Worm+Capital+-+Q2+2021+Letter.pdf?utm_medium=email&_hsmi=140441214&_hsenc=p2ANqtz-8vBjMBZwyJR_miVrb6tu4LVmeAcMcRMU8xdNYgyNu-KeNGt9qPTyZaf3IvsTwE__LIbUSRxAbF9cgwLhcKJEe38NWRBw&utm_content=140441214&utm_source=hs_email">Worm Capital</a></td><td width="10%">7/17/2021</td><td width="40%">$ABNB, $SHOP, $TSLA</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/37ed0e4e-201e-3501-874f-69ad3236db36/June_2021_Investor_Letter_There_s_a_Playbook_for_That.pdf">Richie Capital Group</a></td><td width="10%">7/17/2021</td><td width="40%">$INS, $MKTX, $VMD, $TTD, $ADBE</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-june-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q2-letter-latent-value">Andvari Associates</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_2Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$NET, $BSY, $HUBS, $DKNG, $MGNI, $DISCK</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$PGNY, $CLB, $FSV, $EAR, $CHGG, $NEO</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$STRS, $FNMA</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2021/07/2Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_afba319ad48349ba9cf0f4bc1b4a9e21.pdf">Old West Capital Management</a></td><td width="10%">7/17/2021</td><td width="40%">$RFL, $URPTF</td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/07/Q2-2021-Letter.pdf">Distillate Capital</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.nelsoncapitalmgmt.com/wp-content/uploads/2021/07/2021-Q2-Nelson-Capital-Quarterly-Commentary.pdf">Nelson Capital</a></td><td width="10%">7/18/2021</td><td width="40%">$BKNG</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.21.pdf">Baron Health Care Fund</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.21.pdf">Baron Real Estate Fund</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$PPG, $FCFS, $DGX</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$MNR, $PDCO, $BBBY</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$DRQ, $AVNS, $FCFS</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/60ec92eef91837287388095f/1626116847850/NZS+Capital+Q2+2021+Letter.pdf">NZS Capital</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202Q2021%20Letter%20to%20Investors.pdf?__hstc=85836102.15f20432e0ea5dec955a13ff3d6a419d.1626639822446.1626639822446.1626639822446.1&__hssc=85836102.2.1626639822448&__hsfp=430853256&hsCtaTracking=58fc37ba-5f5d-410d-b210-865e3d2529e2%7C48fcdb2e-21a4-4454-83b8-dc7e654a0bcf">Massif Capital</a></td><td width="10%">7/18/2021</td><td width="40%">$ADMLF, $EQX, $AOIFF, $EQNR</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=2249">Miller/Howard Investments</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$AFL</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$BD, $DLTR, $PCAR, $PGR</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$CNNE, $PCAR</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_06_30_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="10%">7/20/2021</td><td width="40%">$ADTN, $ATSG, $GVA, $JRVR</td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/2q2021-commentary">Whitebrook Capital</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_8d85a47df4ac4bb28f307921fcd64961.pdf">Merion Road Capital</a></td><td width="10%">7/20/2021</td><td width="40%">$FLXS</td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/07/Arisaig-Quarterly-July-2021.pdf">Arisaig Partners</a></td><td width="10%">7/20/2021</td><td width="40%">$ARCE</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2021Q2NP.pdf">Hoisington Investment Management</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://l1international.com/wp-content/uploads/2021/07/L1-International-Fund-June-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$GPK</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/60f5143e81f38b20589bb696/1626674238831/2021+Q2.pdf">Blue Tower Asset Management</a></td><td width="10%">7/20/2021</td><td width="40%">$CNR, $TCS.L</td></tr>
<tr><td width="50%"><a href="https://tidefall.substack.com/p/q2-2021-letter">Tidefall Capital Management</a></td><td width="10%">7/20/2021</td><td width="40%">$FB</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/60f7ad8a3fe7684a17b9ef61/1626844555719/Q2+2021Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="10%">7/22/2021</td><td width="40%">$CCUR $YSACU $GOED $MGAG $SODI $PCOA $ASTR $DBMG $PCHM $NNUP</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/60f6f873da228c63e37549b6/1626798195865/Kinsman+Oak+-+Q2+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/07/VVP-Quarterly-Letter-21.06.30.pdf">Vulcan Value Partners</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2021.pdf">Polen Capital - Global Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2021.pdf">Polen Capital - International Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/1766ad27-75c5-d3bf-a347-f467d6f0f302/Steel_City_Capital_2Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="10%">7/22/2021</td><td width="40%">$ATEX, $NEWSA, $LSYN, $SIGA, $TRUP</td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/second-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$NTDOY, $ILMN</td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_93a7743bb3f24198a2d79dad4efa8a48.pdf">Spree Capital</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2021/">Oakmark Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2021/">Oakmark Global Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$THC, $INCZY</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-quarter-2021/">Oakmark Global Select Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-quarter-2021/">Oakmark International Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2021/">Oakmark Select Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$ALSN</td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q2-CVALUE-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="10%">7/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/60fa220c811d9973fb0f68e0/1627005453234/Maran+Partners+Fund+LP+2021+2Q+Letter.pdf">Maran Capital Management</a></td><td width="10%">7/24/2021</td><td width="40%">$CRSS, $CTT.PT, $CLAR, $PCYO</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202106.pdf">Bronte Capital</a></td><td width="10%">7/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.21.pdf">Baron Asset Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$AVLR</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.21.pdf">Baron Growth Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$ZY</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Quarterly-Letter-6.30.21.pdf">Baron Small Cap Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$JBI, $FA</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/60fb1f431155b25f3e6e24a3/1627070275338/Laughing+Water+Capital+H1+2021.pdf">Laughing Water Capital</a></td><td width="10%">7/25/2021</td><td width="40%">$AIMFF, $TACT, $THRY</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/60fbe987b6530a7c47398e53/1627122055845/Q2%2721+letter.pdf">1 Main Capital Partners</a></td><td width="10%">7/25/2021</td><td width="40%">$MHH, $ATIP.WS, $LMB</td></tr>
<tr><td width="50%"><a href="https://www.dropbox.com/s/01e8amkocdrjjai/Voss%20Value%20Fund%20Q2%202021%20Letter.pdf?dl=0">Voss Capital</a></td><td width="10%">7/25/2021</td><td width="40%">$IMXI, $ECNCF</td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/07/Greystone-Capital-Q2-2021-Letter-1.pdf">Greystone Capital Management</a></td><td width="10%">7/25/2021</td><td width="40%">$HOME, $THBRF</td></tr>
<tr><td width="50%"><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_39ad74e8a82d44d0bdcf9529b65981f7.pdf">Emeth Value Capital</a></td><td width="10%">7/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/2Q21-Investor-Letter-.pdf">Summers Value Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTKX-APDKX-APHKX-QCommentary-2Q21-vR.pdf">Artisan International Value Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTMX-APDMX-APHMX-QCommentary-2Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$LPLA, $ENTG, $WMS, $HUBS, $GMAB</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTSX-APDSX-APHSX-QCommentary-2Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$OLO, $WK, $EB, $WMS, $VMI, $BIGC</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-6.30.21.pdf">Baron Opportunity Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$EDR, $INDI, $RNG, $TEAM, $SOFI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-6.30.21.pdf">Baron Partners Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-6.30.21.pdf">Baron FinTech Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$DLO, $MQ, $SOFI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-6.30.21.pdf">Baron Discovery Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$JBGS, $DV, $INDI, $ALKT, $PING, $ZY, $OLK, $RXRX</td></tr>
<tr><td width="50%"><a href="https://www.akrefund.com/wp-content/uploads/2021/07/Akre-Focus-Fund-Quarterly-Commentary-2021-Q2.pdf">Akre Focus Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/07/Epoch-Quarterly-Newsletter_July-2021.pdf">Epoch Investment Partners</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/07/Qlet2021-02-1.pdf">Greenlight Capital</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-2Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202106/Commentary-Small-Cap-Fund-2021-06-30.pdf?c=637629261700000000">Diamond Hill Small Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/07/Alluvial-Capital-Management-Q2-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="10%">7/28/2021</td><td width="40%">$GTX, $PIOE, $CRSS, $TPRP</td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=b8f98eac91">Argosy Investors</a></td><td width="10%">7/28/2021</td><td width="40%">$FERG, $ARLO, $VZIO</td></tr>
<tr><td width="50%"><a href="https://static.seekingalpha.com/uploads/sa_presentations/620/71620/original.pdf">JDP Capital Management</a></td><td width="10%">7/29/2021</td><td width="40%">$SPOT, $ROKU, $DRTT, $INVVY, $STNE</td></tr>
<tr><td width="50%"><a href="https://boyarvaluegroup.com/bvg-pdf/2Q_2021_BVG.pdf">Boyar Value Group</a></td><td width="10%">7/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/60f5db77fc97a93375260820/1626725239450/2Q21+Letter.pdf">Long Cast Advisers </a></td><td width="10%">7/29/2021</td><td width="40%">$QRHC</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637632664960000000">Weitz Hickory Fund</a></td><td width="10%">7/31/2021</td><td width="40%">$MKTX, $DNB</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637632664960000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637632664960000000">Weitz Partners Value Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637632664960000000">Weitz Value Fund</a></td><td width="10%">7/31/2021</td><td width="40%">$ROP</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/60edefe81f6a951228719afb/1626206185704/GCAM+Q2+2021+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">7/31/2021</td><td width="40%">$ACOPF, $ATHM, $KMX</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/610450a3423d6c305d644531/1627672739392/Q2+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/07/DKAM-ROE-Reporter-July-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">7/31/2021</td><td width="40%">$PLCKF, $NOW.V</td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf">First Eagle Global Value</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rowanstreet.com/post/rowan-street-h1-2021-letter">Rowan Street Capital</a></td><td width="10%">7/31/2021</td><td width="40%">$SPOT, $FB</td></tr>
<tr><td width="50%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q2.pdf?sfvrsn=9d9e919d_4">FPA Crescent Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_07_12.pdf">Myrmikan Research</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2021.pdf">L1 Capital Long Short Fund</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q2-Aikya-Letter.pdf">Aikya Funds</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q21.pdf">Horos Funds</a></td><td width="10%">8/10/2021</td><td width="40%">$SUHJY, $MBI</td></tr>
<tr><td width="50%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202021%20-%20Final.pdf">Tweedy Browne</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/60f5682aac77840235833ab0/1626695723048/Upslope+-+2021Q2+Letter.pdf">Upslope Capital Management</a></td><td width="10%">8/10/2021</td><td width="40%">$MKTX, $ENV</td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/july-research-letter-not-your-mothers-inflation/">Crestcat Capital</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/staying-the-course-inflation-and-value-investing/">Pzena Investment Management</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/08/06/investor-letter-2021-q2/">Tao Value</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdpointlimited.com/wp-content/uploads/2021/08/Third-Point-Q2-2021-Investor-Letter-TPIL.pdf">Third Point</a></td><td width="10%">8/10/2021</td><td width="40%">$RH, $DIS</td></tr>
<tr><td width="50%"><a href="https://www.rgaia.com/wp-content/uploads/2021/08/Q2-2021-Investment-Commentary_Final.pdf">RGA Investment Advisors</a></td><td width="10%">8/10/2021</td><td width="40%">$SFIX</td></tr>
<tr><td width="50%"><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_41dd99dced82438a8be6619d79aa814d.pdf">Luca Capital</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1628686646354">Miller Income Strategy</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1628686579058">Miller Opportunity Equity</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q2%20Commentary/2021.Q2%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/APFDX-APDDX-APHDX-QCommentary-2Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTLX-APDLX-APHLX-QCommentary-2Q21-vR.pdf">Artisan Value Fund</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2q-2021-partner-letter-XzMTMlk1">Artko Capital</a></td><td width="10%">8/23/2021</td><td width="40%">$GLBI, $CURN</td></tr>
<tr><td width="50%"><a href="https://choice-equities.com/wp-content/uploads/2021/08/2021-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="10%">8/23/2021</td><td width="40%">$INVE</td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/07/2021-06-June-Investor-Update.pdf">LRT Capital</a></td><td width="10%">8/23/2021</td><td width="40%">$DPZ, $SCL, $MAR, $NVO, $RGEN, $HXL, $WSO, $TPL, $CIGI, $TFII</td></tr>
<tr><td width="50%"><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_88277daf3c064730b1a221d3605374cd.pdf">Saga Partners</a></td><td width="10%">8/23/2021</td><td width="40%">$GDRX</td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-2Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-2Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-2Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-2Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-2Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.appleseedfund.com/wp-content/uploads/2021/08/APPLX-2021-Q3-Letter.pdf">Appleseed Fund</a></td><td width="10%">8/28/2021</td><td width="40%">$HLF, $BOWFF, $ALL, $NPSNY</td></tr>
<tr><td width="50%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/">Ariel Trust Funds</a></td><td width="10%">8/28/2021</td><td width="40%">$ADT, $BOKF, $MDP</td></tr>
<tr><td width="50%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20210630.pdf">Rondure Global</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_2Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="10%">8/28/2021</td><td width="40%">$CDW, $CPRT, $TSM</td></tr>
<tr><td width="50%"><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/semi-annual-letter-to-shareholders-2021.pdf?sfvrsn=6">Fundsmith Equity Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/60fd6459b6530a7c47483cb4/1627219033515/Greenhaven+Road+Letter+%282021+Q2%29%5B14%5D.pdf">Greenhaven Road Capital</a></td><td width="10%">8/28/2021</td><td width="40%">$MKTW</td></tr>
<tr><td width="50%"><a href="http://www.goodhavenfunds.com/media/pdfs/2021_SAR.pdf">GoodHaven Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q2.pdf">Hayden Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/46240c98-192f-54b0-e33f-04bcfae1a6d3/Arquitos_Investor_Letter_Q2_2021.pdf">Arquitos Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2021.pdf">Evermore Global Value Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1z0cVyJJhW2gOIRJjcnm97gLAHPyGB7y5/view">Andaz Private Investments</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://4bcad08e-7e47-411d-ace4-bf332d18ac81.filesusr.com/ugd/ae68ee_0b2b61051db64ebd8e6c9b6bf84f5bf5.pdf">WertArt Capital</a></td><td width="10%">8/28/2021</td><td width="40%">$SUPN, $GOE.PA, $NTDOY, $HSCNF</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/129847b2-a046-f058-3f5b-574f42e332c7/Rhizome_Partners_Q2_2021_Investor_Letter_Final_8_11_2021.pdf">Rhizome Partners</a></td><td width="10%">8/28/2021</td><td width="40%">$FRPH</td></tr>
<tr><td width="50%"><a href="https://palmcapital.co.za/wp-content/uploads/2021/08/2021Q2-Commentary.pdf">Palm Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
</tbody>
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<hr /><span style="font-size: large;">1st Quarter 2021</span><br /><hr /><br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/04/STJIC-Adviser-Letter-2021-Q1-Final.pdf">St. James Investment Company </a></td><td width="15%">4/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/04/HCM-Q1-21-Quarterly-Letter.pdf">Headwaters Capital</a></td><td width="10%">4/05/2021</td><td width="40%">$AFG, $TREE</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/60661aecfb181a159d5db5c6/1617304300584/Q12021.pdf">Comus Investments</a></td><td width="10%">4/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/606b99c2db9f0919a2294aa6/1617664479120/Del+Principe+O%27Brien+March+2021+Letter+.pdf">Del Principe O’Brien Financial Advisors</a></td><td width="10%">4/05/2021</td><td width="40%">$AVGO, $DISCA, $BIIB</td></tr>
<tr><td width="50%"><a href="http://east72.com.au/wp-content/uploads/2021/04/QUARTERLY-REPORT-Public-March-2021.pdf">East72 Holdings</a></td><td width="10%">4/06/2021</td><td width="40%">$VHI, $HALFF</td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_64_en.pdf">Vltava Fund</a></td><td width="10%">4/07/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$PHYS, $CRI, $WHGLY, $DOX</td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_349e86f42c3f42c78ed7759e48940932.pdf">Merion Road Capital</a></td><td width="10%">4/08/2021</td><td width="40%">$FNF, $RCKY</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2021/">Oakmark Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$MO, $COP</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2021/">Oakmark Select Fund</a></td><td width="10%">4/08/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2021/">Oakmark Global Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$CGEMY, $FISV, $GD, $HUM, $SAP</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-quarter-2021/">Oakmark Global Select Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$DDAIF, $CS</td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Worm%20Capital%20-%20Q1%202021%20Letter.pdf?utm_medium=email&_hsmi=120528142&_hsenc=p2ANqtz-88OPptDlNk0V_RKer-I8HnGkft2e5Y_-jllYmTk9S3aCp_JUT34K1fdxVHIJ8TE3KQBnHX6Ndz6Zovncgns-qhi6iROQ&utm_content=120528142&utm_source=hs_email">Worm Capital</a></td><td width="10%">4/09/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://p.weebly.com/14123551/80d38a39e3/ACML_2021_Q1.pdf">Alphyn Capital Management</a></td><td width="10%">4/11/2021</td><td width="40%">$CFX</td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=a1db0cdb72">Argosy Investors</a></td><td width="10%">4/12/2021</td><td width="40%">$KAR, $GO, $CNSWF, $RRTS, $DFH, $RGLD</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/c6900e62-2470-4112-ad70-66c7876601e0/March_2021_Investor_Letter_Institutional_Imperative_vFinal.pdf">Richie Capital Group</a></td><td width="10%">4/12/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_de9b06acfa2e43c1b2cccbeecbca5f38.pdf">Wedgewood Partners</a></td><td width="10%">4/14/2021</td><td width="40%">$BKNG, $EW, $ODFL, $SBUX</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">4/14/2021</td><td width="40%">$MSTR, $DKNG, $MGNI, $EH, $CHPT, $PLAN</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">4/14/2021</td><td width="40%">$SHAK, $CTRX, $TECH, $BLI, $BIGC, $AVLR</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210331.pdf">FMI All Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210331.pdf">FMI International Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210331.pdf">FMI Large Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210331.pdf">FMI Small Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">4/15/2021</td><td width="40%">$UNH, $BKNG, $SCHW, $SQ, ZG, $SNOW, $FTCH</td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$UNH, $BKNG, $SCHW, $SQ, ZG, $SNOW, $FTCH</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202103.pdf">Bronte Capital</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/607848df2b3546320bb614e8/1618495713359/Upslope+-+2021Q1+Letter.pdf">Upslope Capital Management</a></td><td width="10%">4/15/2021</td><td width="40%">$FCV, $TMXXF, $CBOE</td></tr>
<tr><td width="50%"><a href="https://www.nzscapital.com/quarterly-letters/q1-2021-letter">NZS Capital</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$LUMN, $AMG, $CNX, $GE, $MGM, $FRFHF, $CNHI</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$LUMN,$CNX, $ESRT, $RLGY, $MAT</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">4/15/2021</td><td width="40%">$TOITF, $ATVI</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">4/15/2021</td><td width="40%">$TOITF, $ATVI</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2021Q1NP.pdf">Hoisington Investment Management</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$FISV</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q1-letter-fewer-but-better">Andvari Associates</a></td><td width="10%">4/15/2021</td><td width="40%">$CSGP</td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_e111d7b217d84fc6a3d141bc4da4e2c2.pdf">Old West Capital Management</a></td><td width="10%">4/16/2021</td><td width="40%">$RFL</td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/1Q21-Investor-Letter.pdf">Summers Value Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$ELMD</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.21.pdf">Baron Asset Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$TRIP, $EPAM</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.21.pdf">Baron Discovery Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$TRIP, $VSPR, $MRCY, $DSP, $SAIL</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.21.pdf">Baron Health Care Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$ICLR, $TECH</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-3.31.21_0.pdf">Baron Opportunity Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/first-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$$FAST, $HD</td></tr>
<tr><td width="50%"><a href="https://info.massifcap.com/cs/c/?cta_guid=1c92330b-c129-4677-99c2-1e472dbf2bf3&signature=AAH58kGMg6AB-2tlmoiqkWnIMLMFRr9cxQ&pageId=44998595421&placement_guid=7176c8ab-1803-4f2a-982d-00261ee33e87&click=6453a38f-d437-4d45-9ed8-0f022fea3c0a&hsutk=c7a00000129d1ab31df10178dc3acf03&canon=https%3A%2F%2Finfo.massifcap.com%2Ffirst-quarter-2021-letter-to-investors-full&utm_referrer=https%3A%2F%2Fwww.reddit.com%2F&portal_id=4518141&redirect_url=APefjpEOhoAzbqmMIGOodmqp0YJMarGkKPCQ1nX11xmBRxJ3L4UbCp_iosSORBALh1LqwIe1d_UqRT13T7zUISDnL-XXSv7NhAmiwt7Dncx1kydBMgDScbvQqAFVXlU4Qnf2IA_vtv_KNfm2dnj5hsQkQS2Z5eeIE8Agbwyqo5u5eJEwmADP9bR9-Y5VMS0hdwmUfjzSDDyXqFpOc4YMjE9gg5FAMt3Q29eD5dCCdKc00dq0Mko-5sE915i8kn9_2z5U3P3EaJ-kN97S0lErcVWVMvpQyLPkMA">Massif Capital</a></td><td width="10%">4/16/2021</td><td width="40%">$LAC, $IVN, $TRQ</td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/04/Qlet2021-01-2.pdf">Greenlight Capital</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_1f4310f663684c688a501f1d425e1cb5.pdf">Spree Capital</a></td><td width="10%">4/16/2021</td><td width="40%">$ICE</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=3059">Miller/Howard Investments</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2021/04/shareholder-letter-smead-value-fund1.pdf">Smead Value Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_03_31_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="10%">4/17/2021</td><td width="40%">$UPLD, $ORBC, $JIH</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTMX-APDMX-APHMX-QCommentary-1Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/1q2021-commentary">Whitebrook Capital</a></td><td width="10%">4/17/2021</td><td width="40%">$DISCA, $CNDT</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6073fa24de1505281daa7d78/1618213412780/2021+Q1.pdf">Blue Tower Asset Management</a></td><td width="10%">4/17/2021</td><td width="40%">$CGEO.L</td></tr>
<tr><td width="50%"><a href="https://l1international.com/wp-content/uploads/2021/04/L1_International_Fund_March_2021_Quarterly.pdf">L1 International Capital Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-1Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-1Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-1Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="10%">4/17/2021</td><td width="40%">$HNHPF, $WEGZY, $6415.TW</td></tr>
<tr><td width="50%"><a href="https://www.nelsoncapitalmgmt.com/wp-content/uploads/2021/04/2021Q1.pdf">Nelson Capital</a></td><td width="10%">4/17/2021</td><td width="40%">$DNMR</td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/04/Q1-2021-Letter.pdf">Distillate Capital</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.akrefund.com/wp-content/uploads/2021/04/Akre-Focus-Fund-Quarterly-Commentary-2021-Q1.pdf">Akre Focus Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="10%">4/18/2021</td><td width="40%">$VREOF, $SKY, $MX, $NLS, $ASPU, $STRL, $ROAD</td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/04/Arisaig-Quarterly-April-2021.pdf">Arisaig Partners</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$LEN, $BAM, $CBRE, $JBGS, $PLD</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$BSIG</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr><tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.21.pdf">Baron Growth Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$ACVA</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.21.pdf">Baron Partners Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.21_0.pdf">Baron Real Estate Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc936d6a4-4d95-4062-a6d3-1be113b71c41_1770x2502.png">Tidefall Capital Management</a></td><td width="10%">4/22/2021</td><td width="40%">$BRK.B</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/607dbeff4b7b445d523e1dda/1618853631624/GCAM+Q1+2021+client+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">4/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$UHAL, $RGA, $PSB</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$CCBG, $NFG, $CGAU</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$PAHC, $MEI</td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/04/Greystone-Capital-Q1-2021-Letter.pdf">Greystone Capital Management</a></td><td width="10%">4/25/2021</td><td width="40%">$PW, $SHSP, $HIL, $THRY, $RMNI, $LSYN, $PLBY</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/608403732cc7860039191c41/1619264371755/Q1%2721+letter.pdf">1 Main Capital Partners</a></td><td width="10%">4/25/2021</td><td width="40%">$GOOG, $KKR, $LMB, $PSH, $RICK, $LGIH, $W, $WINE.LN</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="10%">4/25/2021</td><td width="40%">$AMZN, $NFLX, $CRM</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2021.pdf">Polen Capital - Global Growth</a></td><td width="10%">4/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2021.pdf">Polen Capital - International Growth</a></td><td width="10%">4/25/2021</td><td width="40%">$TCRHY, $AON, $SGPYY, $EDU, $ADDYY, $CSLLY, $EVVTY</td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q1-2021-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="10%">4/25/2021</td><td width="40%">$TPL</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/608306de4e49f0272799af39/1619199711634/Kinsman+Oak+-+Q1+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="10%">4/25/2021</td><td width="40%">$BWXT</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-3.31.21.pdf">Baron FinTech Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.21.pdf">Baron Small Cap Fund</a></td><td width="10%">4/27/2021</td><td width="40%">$DRVN, $ETWO, $SHLS</td></tr>
<tr><td width="50%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q21.pdf">Horos Funds</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/60837419998e6d1327cad2f2/1619227673384/Laughing+Water+Capital+Q1+2021.pdf">Laughing Water Capital</a></td><td width="10%">4/27/2021</td><td width="40%">$RMNI, $ITI</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTKX-APDKX-APHKX-QCommentary-1Q21-vR.pdf">Artisan International Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTSX-APDSX-APHSX-QCommentary-1Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary_0.PDF">First Eagle Global Value</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/04/VVP-Quarterly-Letter-21.03.31.pdf">Vulcan Value Partners</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637551430890000000">Weitz Hickory Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637551430890000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637551430890000000">Weitz Partners Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637551430890000000">Weitz Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2021.pdf">L1 Capital Long Short Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aikya.co.uk/wp-content/uploads/2021/04/2021-Q1-Aikya-letter.pdf">Aikya Funds</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/04/Alluvial-Capital-Management-Q1-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="10%">4/28/2021</td><td width="40%">$PIOE, $CRAWA, $LGNC, $WHLR, $MMAC</td></tr>
<tr><td width="50%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202103/Commentary-Small-Cap-Fund-2021-03-31.pdf?c=637552293870000000">Diamond Hill Small Cap Fund</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rgaia.com/wp-content/uploads/2021/04/Q1-2021-Investment-Commentary-FINAL.pdf">RGA Investment Advisors</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q1.pdf?sfvrsn=8">FPA Crescent Fund</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/608c14f248d0480bd46a9f0f/1619793138598/Maran+Partners+Fund+LP+2021+1Q+Letter.pdf">Maran Capital Management</a></td><td width="10%">5/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/608f30c68a421213d86a1fca/1619996870844/Q1+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">5/02/2021</td><td width="40%">$VQSLF</td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/04/Epoch-Quarterly-Newsletter_April-2021.pdf">Epoch Investment Partners</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/04/DKAM-ROE-Reporter-April-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-1Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/04/28/investor-letter-2021-q1/">Tao Value</a></td><td width="10%">5/03/2021</td><td width="40%">$TAL, $FUTU</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6090ae79e8c9d0715bdbb1d2/1620094586126/Q1+2021Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="10%">5/04/2021</td><td width="40%">$SODI $PCOA $DBMG $PCHM $PDRX $RILY $SBNC</td></tr>
<tr><td width="50%"><a href="https://www.palmharbourcapital.com/files/PHC_Q1_2021_Letter.pdf">Palm Harbour Capital</a></td><td width="10%">5/06/2021</td><td width="40%">$SEOAY, $</td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/156KaPykj421-qrzeb22yP2Yr55kdmGc2/view">Andaz Private Investments</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202021%20-%20Final.pdf">Tweedy Browne</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://bluehawkinvestors.com/wp-content/uploads/2021/05/Q1-2021-Investor-Letter.pdf">Blue Hawk Investment Group </a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1620323022969">Miller Income Strategy</a></td><td width="10%">5/06/2021</td><td width="40%">$PBI, $CHS, $VTRS, $GEO</td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1620314382817">Miller Opportunity Equity</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-1Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-1Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdpointlimited.com/wp-content/uploads/2021/05/Third-Point-Q1-2021-Investor-Letter-TPIL.pdf">Third Point</a></td><td width="10%">5/07/2021</td><td width="40%">$UPST, $GRAB, $CSGP</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/7840b0a9-c29d-4f13-a92e-3ab748b62a11/Steel_City_Capital_1Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="10%">5/10/2021</td><td width="40%">$NWSA, $SIGA, $ATEX, $LSYN, $TRUP, $WDFC</td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2021.Q1%20Commentary/2021.Q1%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/crescat-april-investor-letter/">Crestcat Capital</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_05_13.pdf">Myrmikan Research</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/early-days-in-the-value-recovery-commentary/">Pzena Investment Management</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abd98abb-2e75-dd3f-742d-521ce1e13373/050521_Bonhoeffer_Partner_Letter_Q1_2021.pdf">Bonhoeffer Capital Management</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.appleseedfund.com/wp-content/uploads/2021/05/APPLX-Q1-2021-Semi-Annual-Letter.pdf">Appleseed Fund</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Sustainable-Q1-2021-web.pdf">Saturna Capital</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Amana-Q1-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Sextant-Q1-2021-web.pdf">Saturna Capital - Sextant Funds</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://choice-equities.com/wp-content/uploads/2021/05/2021-Q1-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="10%">5/13/2021</td><td width="40%">$BNED, $FARM</td></tr>
<tr><td width="50%"><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2021-partner-letter-oNRTNaLn">Artko Capital</a></td><td width="10%">5/23/2021</td><td width="40%">$HQI</td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/04/2021-03-March-Performance-Update-Public.pdf">LRT Capital</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/">Ariel Trust Funds</a></td><td width="10%">5/23/2021</td><td width="40%">$AXTA, $SNA, $SRCL</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/APFDX-APDDX-APHDX-QCommentary-1Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTLX-APDLX-APHLX-QCommentary-1Q21-vR.pdf">Artisan Value Fund</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/60a80d2db82d4c0854264a21/1621626158448/Bonsai+Partners+Q1+2021+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td width="10%">5/23/2021</td><td width="40%">$RDBBF, $MU, TSYHY, $PHPYF, $LKQ, $TSM, $ILMN</td></tr>
</tbody>
</table>
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<hr /><span style="font-size: large;">4th Quarter 2020</span><br /><hr /><br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="15%">1/14/2021</td><td width="40%">$NET, $ROKU, $FTCH, $QDEL, $STMP, $ZM</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">1/14/2021</td><td width="40%">$CDNA, $NTRA, $CMD, $STMP, $TNDM, $QDEL</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://p.weebly.com/14123551/0fd3577090/ACML_2020_Q4.pdf">Alphyn Capital Management</a></td><td width="10%">1/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/6010d367849bae794accb740/1611715431638/Q4+2020+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1WotHxQKWf4FdXA4Fz-1oWl9MVCMet2XA/view">Andaz Private Investments</a></td><td width="10%">1/04/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q4-letter-the-leap-of-faith">Andvari Associates</a></td><td width="10%">1/07/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=e596a3f39f">Argosy Investors</a></td><td width="10%">1/12/2021</td><td width="40%">$PINS, $JD, $RP, $SPB, $FTV, $WFC</td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/01/Arisaig-Quarterly-January-2021.pdf">Arisaig Partners</a></td><td width="10%">1/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/APFDX-APDDX-APHDX-QCommentary-4Q20-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTIX-APDIX-APHIX-QCommentary-4Q20-vR.pdf">Artisan International Value Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTMX-APDMX-APHMX-QCommentary-4Q20-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTSX-APDSX-APHSX-QCommentary-4Q20-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$SMMC ($BTRS), $DNLI, $ZNGA, $FROG.</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTLX-APDLX-APHLX-QCommentary-4Q20-vR.pdf">Artisan Value Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://docsend.com/view/ffasrkj3xbcp73rp">Avory & Company</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-12.31.20.pdf">Baron Asset Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$SFIX, $FTCH.</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-12.31.20.pdf">Baron Discovery Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$CDNA, $TPIC, $ALGM, $ESPR, $EBS, $SILK, $FQVTF, $MDEVF, $RRR, $EAR.</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-12.31.20.pdf">Baron FinTech Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$SHOP, $MELI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-12.31.20.pdf">Baron Growth Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$DM</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-12.31.20.pdf">Baron Health Care Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-12.31.20.pdf">Baron Opportunity Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$OPEN, $SFIX, $FTCH</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-12.31.20.pdf">Baron Partners Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-12.31.20_0.pdf">Baron Real Estate Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_12_31_bca_scv_marketcomm_final.pdf">Bernzott Capital Advisors</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/600e93bc3e161e647bf37eb8/1611568060751/2020+Q4.pdf">Blue Tower Asset Management</a></td><td width="10%">1/27/2021</td><td width="40%">$EZPW</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202012.pdf">Bronte Capital</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5fef8b00dac66e1e16b7d4d0/1609534209232/Q42020.pdf">Comus Investments</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://concentratedcompounding.com/2020-annual-letter/">Concentrated Compounding*</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2020/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">1/20/2021</td><td width="40%">$TKAYY, $WMG, $WDAY, $OCPNY.</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2020/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/01/Q4-2020-Letter.pdf">Distillate Capital</a></td><td width="10%">1/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/01/DKAM-ROE-Reporter-January-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/dd77d6a119e511a93e9308144/files/d2f72ae0-8aec-47c9-9e3a-66ec7ebe0d92/Edgebrook_Annual_Letter_2020.01.pdf">Edgebrook Partners</a></td><td width="10%">1/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/01/Epoch-Quarterly-Newsletter_January-2021.pdf">Epoch Investment Partners</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/FE_GV_Annual_Letter_F-CM-GVT-ANNLTR-P-US.pdf">First Eagle Global Value</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20201231.pdf">FMI All Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20201231.pdf">FMI International Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20201231.pdf">FMI Large Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20201231.pdf">FMI Small Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://foragerfunds.com/wp-content/uploads/2021/01/FORAGER-QR_DEC20.pdf">Forager Funds</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2020.pdf?sfvrsn=4">Fundsmith Equity Fund</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/6008b2665bd7e21cbb2aefd0/1611182698327/GCAM+FY+2020+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.goodhavenfunds.com/media/pdfs/2020_AR.pdf">GoodHaven Fund</a></td><td width="10%">1/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/01/Qlet2020-041.pdf">Greenlight Capital</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/01/Greystone-Capital-Q4-2020-Letter.pdf">Greystone Capital Management</a></td><td width="10%">1/16/2021</td><td width="40%">$CHRM, $TRRVF, $LSYN, $USAT, $FREE</td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/01/Q4-20-HCM-Investment-Letter-FINAL.pdf">Headwaters Capital</a></td><td width="10%">1/10/2021</td><td width="40%">$ENTG, $FICO, $INSP</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$FCX, $RJF, $BG, $AAP</td></tr>
<tr><td width="50%"><a href="">Heartland Select Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$THO, $NVT, $CAGDF</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$PAHC, $RILY.</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2020Q4NP.pdf">Hoisington Investment Management</a></td><td width="10%">1/19/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2020.pdf">L1 Capital Long Short Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/600d8da0643aa1698781e02a/1611500960816/Laughing+Water+Capital+YE+2020.pdf">Laughing Water Capital</a></td><td width="10%">1/24/2021</td><td width="40%">$AIMFF, $CDMO, $PAR, $USAT</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/01/2020-12-December-Performance-Update.pdf?utm_source=LRT+Capital+Management&utm_campaign=7b597b9b26-EMAIL_CAMPAIGN_4_27_2019_9_58_COPY_01&utm_medium=email&utm_term=0_8ad2dd2e5c-7b597b9b26-328907381">LRT Capital</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/6009bb1b2d18d542ead573a2/1611250465556/2020.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_c4c58da3cf8940a2a507e31c7543f084.pdf">Merion Road Capital</a></td><td width="10%">1/12/2021</td><td width="40%">$PINS, $FCPT, $FERGY, $MHH, $RMCF, $LNSR</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=3050">Miller/Howard Investments</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1igQ64JuZiJ7IEQllP0u3RyQBJ3_uPJTg/view">MPE Capital</a></td><td width="10%">1/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_01_13.pdf">Myrmikan Research</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.nzscapital.com/news/nzs-capital-q4-2020-update">NZS Capital</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2020/">Oakmark Fund</a></td><td width="10%">1/11/2021</td><td width="40%">$FISV, $KKR</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2020/">Oakmark Select Fund</a></td><td width="10%">1/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2020/">Oakmark Global Fund</a></td><td width="10%">1/11/2021</td><td width="40%">$NVS, $KDP, $LYV, $PINS</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2020/">Oakmark Global Select Fund</a></td><td width="10%">1/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d433d06abf354a039039af0d4933c5f8.pdf">Old West Capital Management</a></td><td width="10%">1/11/2021</td><td width="40%">$WLDBF.</td></tr>
<tr><td width="50%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_84c55e774aac418fa065fb61206be3c1.pdf">Palm Valley Capital Fund</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2020.pdf">Polen Capital - Focus Growth</a></td><td width="10%">1/22/2021</td><td width="40%">$ILMN, $CRM.</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2020.pdf">Polen Capital - Global Growth</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2020.pdf">Polen Capital - International Growth</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/momentum-is-with-value/">Pzena Investment Management</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/e5a21f93-8c76-431c-8ddd-63c0efe24514/December_2020_Investor_Letter_Blind_Spots_vFinal.pdf">Richie Capital Group</a></td><td width="10%">1/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q20_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">1/14/2021</td><td width="40%">$SNAP, $PINS, $BX, $UBER, $EXAS, $LMT, $DXCM.</td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_4Q20_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rvcapital.ch/post/rv-capital-s-2020-letter-to-co-investors-in-the-business-owner-fund?utm_campaign=35210720-6fbf-42de-a744-9fd46d8f3f4e&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="10%">1/15/2021</td><td width="40%">$WORK</td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_dbd7c0662df04a51889bfc17d810d421.pdf">Spree Capital</a></td><td width="10%">1/18/2021</td><td width="40%">$CDLX, $UPWK.</td></tr>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/01/STJ-Adviser-Letter-2020-Q4.pdf">St. James Investment Company </a></td><td width="10%">1/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/51948ad1-0c35-4453-9e43-36915ae8cfec/Steel_City_Capital_4Q_20_Partner_Letter.pdf">Steel City Capital</a></td><td width="10%">1/25/2021</td><td width="40%">$LSYN, $ATEX, $EBAY, $TRUP, $WDFC</td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/2020-Annual-Investor-Letter-.pdf">Summers Value Fund</a></td><td width="10%">1/21/2021</td><td width="40%">$BASI, $ELMD, $MODV</td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/01/20/investor-letter-2020-q4/">Tao Value</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%">$FNMA, $AMH</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%">$LAZ, $SVNDY.</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/600031ce75feee1e320a0c37/1610625487864/Upslope+-+2020Q4+Letter.pdf">Upslope Capital Management</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_63_en.pdf">Vltava Fund</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/01/VVP-Annual-Letter-20.12.31.pdf">Vulcan Value Partners</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_e0367d900f594418b9f80f5332a78da3.pdf">Wedgewood Partners</a></td><td width="10%">1/13/2021</td><td width="40%">$PGR, $SPGI, $TSCI</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637472989640000000">Weitz Hickory Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637472989640000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637472989640000000">Weitz Partners Value Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637472989640000000">Weitz Value Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/4q2020-commentary">Whitebrook Capital</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q4-2020-Review_Final_Approved.pdf">Horizon Kinetics</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-4Q20-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-4Q20-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hardingloevner.com/strategies/international-small-companies-equity/">Harding Loevner International Small Companies Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hardingloevner.com/strategies/global-small-companies-equity/">Harding Loevner Global Small Companies</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q4-2020/">Crestcat Capital</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2020.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2020.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/fourth-quarter-2020-investment-update/?__hstc=3281263.805dd8f22d7941cbc2e047cb71a92ba5.1612067828585.1612067828585.1612067828585.1&__hssc=3281263.13.1612067818999&__hsfp=3642198382">Ensemble Fund</a></td><td width="10%">1/30/2021</td><td width="40%">$RACE, $NVR</td></tr>
</tbody>
</table>
<br /></div><div><br /></div><div><br /></div><div><br /></div><div><span style="font-size: x-large;">3rd Quarter 2020</span></div><div><span style="font-size: x-large;"><br /></span></div><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f91d68ffcf5365a608ae79b/1603393167269/Q3%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($LMB)</li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($PENN, $ZM, $DKNG, $VAPO, $MIDD, $VERX)</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($NTRA, $CYRX, $VEEV, $AYX, $EHTH, $PRO).</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://p.weebly.com/14123551/0e14046f58/acml_2020_q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f9c71c178bf29569ce3e73c/1604088257626/Q3+2020+Alta+Fox+Capital+Quarterly+Letter+-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT)</li><li><a href="https://drive.google.com/file/d/16Z5Ah7ylRfTNtv7_89hvySNkLBs94ymo/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://andvariassociates.com/q3-letter-repeatable-process-and-concentration" target="_blank">Andvari Associates</a> -($GLIBA, $LBRDA, $CSGP, $TYL)</li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/08/APPLX-Q2-2020-Letter-.pdf" target="_blank">Appleseed Fund</a></li><li><a href="https://mailchi.mp/d5669ebd0777/argosy-investors-3q20-letter-5089533" target="_blank">Argosy Investors</a> - ($TIG, $TAP, $XPO, $HEI, $CIGI).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BAP, $FLIR, $NOV, $MTN).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abb0e242-eb67-40d1-883b-ecdfa6b22d71/Arquitos_Investor_Letter_Q3_2020.pdf" target="_blank">Arquitos Capital</a></li><li><a href="https://arisaig.com/wp-content/uploads/2020/10/Arisaig-Quarterly-October-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/3q/APFDX-APDDX-APHDX-QCommentary-3Q20-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTKX-APDKX-MCommentary-0920-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTMX-APDMX-MCommentary-0920-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTSX-APDSX-MCommentary-0920-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTLX-APDLX-MCommentary-0920-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-3q-2020-partner-letter-XOMTVzxR" target="_blank">Artko Capital</a> - ($NTIC, $PBPB, $FTK)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-9.30.20.pdf" target="_blank">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-9.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($PRPL, $VITL, $PACB, $BLI, $AFIB, $MEG, $AEIS).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron FinTech Fund</a> - ($SQ, $NVEI.TO).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-9.30.20.pdf" target="_blank">Baron Growth Fund</a> - ($AMWL).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-9.30.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-9.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-9.30.20_1.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_9_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($SSTK, INOV, $WSC, $EPAY, $SP, $CSOD)</li><li><a href="https://s3.amazonaws.com/bireme/3Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AAADKn6HMQN3RcB_NnJSPUsRa/Black%20Bear%20Value%20Partners%20Q3%202020.pdf?dl=0" target="_blank">Black Bear Value Partners</a> - ($AWI, $AN, $BRK.B, $PSX, $TPL)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f84061d553af93162d867d1/1602487838468/2020+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($BERY)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f90958a0514cc4e0f71e119/1603310986504/Bonsai+Partners+Q3+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($RDBBF, $PHPYF, $MU, $GNSS, $TSM).</li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202009.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf3q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a> - ($CRL, $BFAM, $JKHY, $RP)</li><li><a href="https://browncapital.com/system/files/scf3q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($IRTC, $VEEV, $AYX, $PRO)</li><li><a href="https://browncapital.com/system/files/ief3q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf3q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://drive.google.com/file/d/1a76lPrhT-7Z1kFGOwh1f_w90IPJiAnNE/view" target="_blank">Cartenna Capital</a> - ($FDX, $LAD, $LEA)</li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f85eb7289085d67fca99c88/1602612084148/Q3+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:7abf9ad9-f7fe-4977-813d-f110bc6cd463#pageNum=1" target="_blank">Choice Equities Fund</a> - ($APPS, $PINS, $MGNI, $SIC).</li><li><a href="https://cedcapital.in/wp-content/uploads/2020/10/Quarterly-PMS-Letter-Sep20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5f761584c70e806b3d25af69/1601574277212/Q32020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Hedged)</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Unhedged)</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q3-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5f8770933c746c06627c78af/1602711699235/Q3+2020+Letter.pdf" target="_blank">Curreen Capital</a> - ($CNDT).</li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5fb1cf491cc5cc6622c8d927/1605488457151/Del+Principe+O%27Brien+October+2020+Letter+pdf.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a> - ($BRK.B, $ROP, $DHR, $MC, $ICE)</li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/2eca2e7c-b182-4c14-8b24-b57b0eb9b1e1/2020_Q3_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/10/Q3-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://dmzpartners.in/Documents/Files/DMZ-2103-2Q20-21-Redacted.pdf" target="_blank">DMZ Partners</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/10/DKAM-ROE-Reporter-October-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2020/" target="_blank">Ensemble Fund</a> - ($CMG, $ISRG. $NVR, $BR, $FRC, $NVR).</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/10/16105449/Client-Letter-Q3-2020-FINAL.pdf" target="_blank">Ewing Morris</a> - ($KAI)</li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200930.pdf" target="_blank">FMI All Cap Equity</a> - ($CMCSA, $DLTR).</li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200930.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200930.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200930.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-q3.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NCR, $AGCO, $CNOM, $CNC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q3-final-w-disclosures-and-holdings.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q3%20Commentary/2020.Q3%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f9c6af71e0c5e77d38dbda4/1604086519425/Greenhaven+Road+Letter+%282020+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $KKR, $APPS, $ESTC, $ROKU, $AEYE, $APG, $NLS, $BNED)</li><li><a href="https://www.valuewalk.com/wp-content/uploads/2020/10/Qlet2020-03-1.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.11.01-Q3-Letter-v2.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/11/Greystone-Capital-Q3-2020-Letter.pdf" target="_blank">Greystone Capital Management</a> - ($RICK, $RMNI, $CRAWA, $RSSS, $PW)</li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-3Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-3Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-3Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-3Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q3.pdf" target="_blank">Hayden Capital</a> - ($AFTPF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($HLT, $SPB, $FE, $MHK)</li><li><a href="https://www.heartlandadvisors.com/Products/Strategies/Heartland-Opportunistic-Value-Equity-Strategy/Heartland-Opportunistic-Value-Equity-Strategy-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Opportunistic Value Fund</a> - ($HLT, $CSCO, $BRK.B)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TSC, $OESX ,$PLAB)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SPB, $FCFS, $RL)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q3NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($TPL)</li><li><a href="https://l1international.com/wp-content/uploads/2020/10/09_2020_International_Fund_Quarterly_Report.pdf" target="_blank">L1 International Capital Fund</a></li><li><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2020.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f8c75b4bdc0fc164f836caf/1603040693094/Laughing+Water+Capital+Q3%2720.pdf" target="_blank">Laughing Water Capital</a> - ($USAT, $FREE)</li><li><a href="https://southeasternasset.com/commentary/3q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/10/2020-09-September-Performance-Update-Public.pdf" target="_blank">LRT Capital</a></li><li><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_1bf005a3950242f48eeff54c938130ed.pdf" target="_blank">Luca Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($HON)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0" target="_blank">Madison Investors Fund</a> - ($FB)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0" target="_blank">Madison Mid Cap Fund</a> - ($ANET)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5fa85397ef83d42c47c6bbad/1604866968719/Maran+Partners+Fund+LP+2020+3Q+Letter.pdf" target="_blank">Maran Capital Management</a> - ($FREE, $PCYO, $CLAR)</li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5f91f70b872be4229ca34d82/1603401483222/2020.Q3+Massif+Investor+Client+Letter.pdf" target="_blank">Massif Capital</a></li><li><a href="https://www.mawer.com/learn/mawer-quarterly/third-quarter-2020/" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://www.mclaincap.com/letters" target="_blank">McLain Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_ff943467174a4a2fbef2fb129e71359a.pdf" target="_blank">Merion Road Capital</a> - ($FERGY, $TUESQ)</li><li><a href="https://www.mhinvest.com/download.html?docId=3036" target="_blank">Miller/Howard Investments</a></li><li><a href="https://millervalue.com/deep-value-strategy-3q20-letter/" target="_blank">Miller Value - Deep Value Strategies</a> - ($NBR, $BBBY, $GME, $SIG, $PBI, $ATCO)</li><li><a href="https://millervalue.com/opportunity-equity-3q20-letter/" target="_blank">Miller Value - Opportunity Equity</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a></li><li><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2020_10_13.pdf" target="_blank">Myrmikan Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/10/2020Q3.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($QDEL).</li><li><a href="https://drive.google.com/file/d/1wavRmQCrmYZ0Xr91X-0o7wfgS-oaE48W/view" target="_blank">Nomadic Value</a> - ($UNH, $OHS, $IPOC).</li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2020/" target="_blank">Oakmark Fund</a> - ($CBRE, $KDP)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_16ebf57ec73a4bd8957c37c5ed02890b.pdf" target="_blank">Old West Investment Management</a> - ($LEU)</li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_ebd5d2ddc5a04d9b8a657a03a5115b1f.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($UNH, $ISRG, $CRM, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.rgaia.com/wp-content/uploads/2020/11/Q3-2020-Investment-Commentary-Ignition.pdf" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/0c3c2277-336b-4b40-957b-97b4df6c3b1b/Rhizome_Partners_Q3_2020_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q20.pdf" target="_blank">RiverPark Large Growth</a> - ($PINS, $AAPL, $AMZN, $EXAS, $ISRG, $ILMN, $AMT, $ADSK)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_3Q20.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/11/2020-Q3-Newsletter.pdf" target="_blank">Rowan Street Capital</a> - ($BABA)</li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sustainable-Q3-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Amana-Q3-2020-web.pdf" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sextant-Q3-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://drive.google.com/file/d/1A0s8GKvMy-_xUHbzxDSaN0AEjmwSg_f6/view" target="_blank">Selcouth Capital Management</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=459a37f7-5751-4cfe-9518-f3a1538c959e&Name=Q3_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/ba603bd1-d159-48eb-8ad5-d291db00375b/SilverRingValuePartners_2020Q3_Letter.pdf" target="_blank">Silver Ring Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_706aab945eef4b7088fcb7ee7409a296.pdf" target="_blank">Spree Capital</a> - ($IAC, $ANGI, $PINS)</li><li><a href="https://stjic.com/wp-content/uploads/2020/09/STJIC-Adviser-Letter-2020-Q3.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/13ac1227-dad0-4f2e-9abf-49860419ff60/Steel_City_Capital_3Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a> - ($LSYN, $ATEX. $SATS, $EBAY, $TCP, $TRUP, $HBI, $OLLI)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $ELMD, $PRSC, $ASRT)</li><li><a href="https://taovalue.files.wordpress.com/2020/10/taovalue_2020_q3_final.pdf" target="_blank">Tao Value</a> - ($BEKE, $WORK, $API)</li><li><a href="https://drive.google.com/file/d/1Utxz55Fm5B66CLNOoTYUOktAfFEX5jgq/view" target="_blank">Tidefall Capital Management</a> - ($FB, $NFLX, $MTCH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAREX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FNMA, $CBRE, $AMH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TASCX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($HBB)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAVFX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://thirdpointlimited.com/wp-content/uploads/2020/10/Third-Point-Q3-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AABLnwQSozTE3JKv2sad6Z9fa?dl=0&preview=Tollymore+Q3+2020.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRUP, $FTCH).</li><li><a href="https://www.turtlecreek.ca/wp-content/uploads/2020/10/Turtle-Creek-Quarterly-Commentary-2020-Q3.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202020%20-%20FINAL.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f871d84732ab26ee19d4081/1602690437395/Upslope+-+2020Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($BFAM)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_62_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/10/VVP-Quarterly-Letter-20.09.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f46984994bc44abab0fa9d012fa35da.pdf" target="_blank">Wedgewood Partners</a> - ($FRC, $NVDA, $V, $PYPL)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/3q2020-commentary" target="_blank">White Brook Capital</a> - ($GOOG, $GT)</li><li><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Q3%20Letter%20-%20Worm%20Capital%20-%20October%202020.pdf?utm_medium=email&_hsmi=96979337&_hsenc=p2ANqtz-9c8-1QN7remFXHTROTOZTyb6aD5SohUf2rFfwP8peAv3-Z1XJlW5WJvb4sn6epTXlR7KXK61iVzvAd7ZtR3HHcWBQZvQ&utm_content=96979337&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><span style="font-size: x-large;">2nd Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f1646c5f488c44459f92f6f/1595295430480/Q2%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($HBI)</li><li><a href="https://www.adestella.com/wp-content/uploads/2020/08/Q2-2020-Investor-Letter.pdf" target="_blank">Adestella Investment Management</a> - (WSE:LVC)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/07/Akre-Focus-Fund-Quarterly-Commentary-2020-Q2.pdf" target="_blank">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($QDEL, $DKNG, $MKTX, $INGN, $XPO, $HLIO).</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus</a></li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/07/Alluvial-Capital-Management-Q2-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $LICT, $NUVR, $RWWI, $CRAWA, $PII, $MMAC, $BUKS, $MHGU)</li><li><a href="https://p.weebly.com/14123551/8d9576d761/ACML_2020_Q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f21cdd21a3a007c9039d884/1596050899234/Q2+2020+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT, $NLAB)</li><li><a href="https://drive.google.com/file/d/1tOgr8EbBQL-DFcyuEIteClKQnktt-ioR/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/05/Q1-2020-applx-semi-annual-letter-updated-v2.pdf" target="_blank">Appleseed Fund</a> - ($TPIC).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($JLL, $MSGE, $SWK).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/06/Arisaig-Quarterly-July-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTIX-APDIX-APHIX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTMX-APDMX-APHMX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($PTON, $CHGG, $IEX, $LSCC, $BURL, $ASND).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTSX-APDSX-APHSX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-2q-2020-partner-letter-XzMTMQrb" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/08/2020-08-10-Askeladden-Capital-Q2-2020-Letter-Unkind.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://mcusercontent.com/1299c2986ac5b8b808d25e3db/files/3a2f5125-2747-4c36-90e0-cb882c13bfc0/Avory_Quarterly_Letter_2020_Q3.pdf" target="_blank">Avory&Company</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.20.pdf" target="_blank">Baron Asset Fund</a> - ($ZI)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-6.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($AAT, $CAKE, $FOUR, $AEIS, $CYRX, $NARI).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.20.pdf" target="_blank">Baron Health Care Fund</a> - ($SWAV, $IMMU, $CYRX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-6.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-6.30.30.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.20_0.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-6.30.20.pdf" target="_blank">Baron Small Cap Fund</a> - ($CCH, $AXNX, $KTOS, $AZEK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_6_30_bca_scv_marketcomm_final.pdf?utm_source=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CRNC, $CTLT, $EPAY, $PLOW, $SP, $BV, $SPSC, $TWNK)</li><li><a href="https://bluehawkinvestors.com/q2-2020-investor-letter/" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $EA, $SPLK, $STZ).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f1561892a4010553ea9a4fc/1595236745929/2020+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/c68a1a6b-f4ef-4fa0-a118-538e1f21755d/081020_Bonhoeffer_Partner_Letter_Q2_2020.pdf" target="_blank">Bonhoeffer Fund</a> - ($AM)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f0e14ec768fd51a428a531a/1594758381666/Bonsai+Partners+Q2+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($LKQ, $GNSS, $TSM, $PHPYF)</li><li><a href="https://www.boyarvaluegroup.com/wp-content/uploads/2020/07/2Q_2020_BVGLETTER.pdf" target="_blank">Boyar Group</a></li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202006.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf2q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf2q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/ief2q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f179f71130d4a67c0b7cc14/1595383665773/Q2+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2020/07/2020-Q2-CEF-Investor-Letter-2.pdf" target="_blank">Choice Equities Fund</a> - ($CELH, $APPS, $PINS, $CTRN, $TAST).</li><li><a href="http://choufunds.com/pdf/SEMI-AR%202020%20%28English%29.pdf" target="_blank">Chou Funds</a></li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2020+Q2+Letter.pdf" target="_blank">Coho Capital</a> - ($SPOT)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5efce03ba58d546e2e0f9e2b/1593630780199/Q22020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q2-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://www.docdroid.net/bFfeMjX/david-capital-partners-llc-letter-on-covid-19-2020-q2-pdf" target="_blank">David Capital Partners</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a> - ($COF, $BK).</li><li><a href="https://davisfunds.com/downloads/DGFPMComm.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFPMComm.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5efb340b8974eb3c8fb597aa/1593521163499/Del+Principe+O%27Brien+June+2020+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/fee3146b-2929-4ef2-a438-b026f217bccb/2020_Q2_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://dfdent.com/wp-content/uploads/2020/09/DF-Dent-063020-Annual-Report-FINAL-updated-3.pdf" target="_blank">DF Dent</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200630_Diamond-Hill_Small-Cap-Fund-Commentary-1.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/07/Q2-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/08/DKAM-ROE-Reporter-July-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_c1778ec658b04174856e4169cb505c0c.pdf" target="_blank">Emeth Value Capital</a> - ($BSM)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2020/" target="_blank">Ensemble Fund</a> - ($MASI, $NFLX)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_0.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200630.pdf" target="_blank">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200630.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200630.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200630.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://foragerfunds.com/wp-content/uploads/2020/07/Quarterly-Report_June-2020.pdf" target="_blank">Forager Fund</a> - ($CELH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-06.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q2.pdf?sfvrsn=14" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5f078ab33b43a56a3eb3feae/1594329782036/GCAM+Q2+2020+letter.pdf" target="_blank">Giverny Capital Asset Management</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q2%20Commentary/2020.02%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f1ce3f5ffc2762dc1e36675/1595728886611/Greenhaven+Road+Letter+%282020+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($GOGO, $LE, $IAC, $APPS, $KKR, $ESTC, $PAR)</li><li><a href="https://www.docdroid.net/8aEd6Ge/greenlight-2q20-letter-pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.08.18-Q2-2020-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/07/Greystone-Capital-Letter-H1-2020.pdf" target="_blank">Greystone Capital Management</a> - ($HIL, $RICK, $APG, $TRRVF, $MIXT</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/GE-2Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/IE-2Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-2Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-2Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q2.pdf" target="_blank">Hayden Capital</a> - ($AMZN, $SE)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($AAP, $RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($CNI, RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($MDC, $PLAB, $NFG)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SAH, $CCRN, $PCH)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q2NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Quarterly-Commentary_Q2-2020.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q20.pdf" target="_blank">Horos Asset Management</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/07/2020-Half-Year-JDP-Capital.pdf" target="_blank">JDP Capital</a></li><li><a href="http://investors.l1longshort.com/DownloadFile.axd?file=/Report/ComNews/20200720/02256558.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://l1international.com/wp-content/uploads/2020/07/06-2020-International-Fund-Quarterly-Report.pdf" target="_blank">L1 International Capital Fund</a> <a href="https://www.lrtcapital.com/wp-content/uploads/2020/07/2020-06-June-Performance-Update-Public.pdf" target="_blank">Capital</a></li><li><a href="https://www.docdroid.net/2ExPtjh/lakewood-capital-2020-q2-letter-pdf" target="_blank">Lakewood Capital Management</a> - ($HDS, $NSP, $ATH, $BLDP, $SLP, $SRNE)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f19a4d1e0b9f47a7f5974aa/1595516114278/Laughing+Water+Capital+1H%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/nlml7il3uj1purr/Lightsail%202Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($MMM)</li><li><a href="http://madison%20mid%20cap%20fund/" target="_blank">Madison Investors Fund</a> - ($MMC)</li><li><a href="http://madison%20investors%20fund%20-%20%28%24mmc%29/" target="_blank">Madison Mid Cap Fund</a> - ($IT, $LH, $MC).</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://www.docdroid.net/FGa8ior/maran-partners-fund-lp-2020-q2-letter1582-pdf" target="_blank">Maran Capital Management</a> - ($IAC)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2020/09/MVIP-Strategic-Growth-Commentary-2Q-2020.pdf" target="_blank">Mar Vista Investment Partners</a> - ($APH)</li><li><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202nd%20Quarter%20Letter%20to%20Investors.pdf?utm_medium=email&_hsmi=91107066&_hsenc=p2ANqtz-9LijGwDjSgj8jyqCenBnIBF47dmzsWi3IMjSFYI4FdU7JJBgy3y9ZYV2Hb0dIgRDoabuG10U1l5XThj0OJNeKKIwi9SQ&utm_content=91107066&utm_source=hs_email" target="_blank">Massif Capital</a> - ($HES, $RUN, $GOLD).</li><li><a href="https://www.mawer.com/assets/Newsletters/2Q20-Quarterly-Series-A-Net.pdf" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_aa805187f361412fa7b16ed0918e00e2.pdf" target="_blank">Merion Road Capital</a> - ($TRNS)</li><li><a href="https://millervalue.com/deep-value-strategy-2q20-letter/">Miller Value Fund</a> - ($BBBY, $NBR, $TMHC, $DXC).</li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q2_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a> - ($CRMLF, $CAR, $CCL, $REV, $CPXGF, $AZTEF)</li><li><a href="https://drive.google.com/file/d/1EY3GUJZn0WVXSuQy17mk1W5FYdOqL2Ry/view" target="_blank">MPE Capital</a> - ($WIX, $BRBOF).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/07/2020Q2.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($DOCU).</li><li><a href="https://drive.google.com/file/d/1vccfEmwX4ulExfEIrOE1IOB6uKeMU6QW/view" target="_blank">Nomadic Value Investment Partners</a></li><li><a href="https://www.nzscapital.com/s/NZS-Capital-Q2-2020-Letter.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2020/" target="_blank">Oakmark Fund</a> - ($RGA, $GD, $TMUS)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_a30dcf83719d44bba64d3b6e9f3f4345.pdf" target="_blank">Old West Investment Management</a> - ($FLGT).</li><li><a href="https://www.docdroid.net/bg0gNdv/pabrai-funds-q2-2020-pdf#page=7" target="_blank">Pabrai Funds</a></li><li><a href="https://www.palmvalleycapital.com/fundletter" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growt</a>h</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5f3b4cb88ea6a1347c012598/1597721787995/RF+Capital+Q2+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://www.rgaia.com/q22020-investment-commentary-the-tale-of-two-markets/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/67acd636-2e8e-4ba4-b038-d2c2d5805461/Rhizome_Partners_Q2_2020_Investor_Letter_Final.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q20.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($SNAP, $SHOP, $BILL, $AMZN, $TWLO, $CME, $IQV, $ZTS, $APO, $KKR, $MTN).</li><li><a href="http://riverpark%20large%20growth%20fund%20-%20%28%24snap%2C%20%24pins%2C%20%24uber%2C%20%24shop%2C%20%24bill%2C%20%24dxcm%2C%20%24rng%2C%20%24lmt%29.%20riverpark%20long/Short%20Opportunity%20Fund" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_2Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($BKNG, $BMT, $FB, $FLT)</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/08/Near-Term-Delusions-Long-Term-Collisions.pdf" target="_blank">RLT Capital</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan_Street_Capital_First_Half_2020_Letter.pdf" target="_blank">Rowan Street Capital</a> - ($SPOT)</li><li><a href="https://www.rvcapital.ch/post/co-investor-letter-h1-2020?cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6&utm_campaign=cadf75be-7334-4451-a092-5873c7ac02ac&utm_medium=mail&utm_source=so" target="_blank">RV Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c6eb517f46b24b9d8e9aad440f79ee19.pdf" target="_blank">Saga Partners</a></li><li><a href="https://www.saltlight.co.za/wp-content/uploads/2020/08/SaltLIght-2Q20-Letter-Final.pdf" target="_blank">SaltLight Capital</a> - ($COH.JO, CTK.JO)</li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ce3ae7fe-7fcc-4291-979b-4d30eb11a66a&Name=Q2_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="http://saturna%20capital%20saturna%20capital%20-%20amanafunds%20saturna%20capital%20-%20sextant%20funds/" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/b301205c-52a7-4f24-883c-1f3580537837/SilverRingValuePartners_2020Q2_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_7c247397881f467d9360d21885e78fb4.pdf" target="_blank">Spree Capital</a> - ($STNE, $WIX).</li><li><a href="https://srk-capital.com/content_files/2020/09/SRK-Fund-Q2-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/07/STJIC-Adviser-Letter-2020-Q2-Final.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $BSTC)</li><li><a href="https://taovalue.files.wordpress.com/2020/07/taovalue_2020_q2_final.pdf" target="_blank">Tao Value</a> - ($PDD, $YY, $AVLR, $CIH)</li><li><a href="https://langfrist.de/dokumente/H1_2020_E_Partners_Fund.pdf" target="_blank">TGV Partners Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAREX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TASCX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($WASH, $CKH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAVFX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Value Fund</a> - ($BKRIF, $IFSPF, $LUNMF, $CSFFF).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/08/Third-Point-Q2-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a> - ($BABA, $JD, $AMZN, $DIS, $PUK, $SPGI)</li><li><a href="https://drive.google.com/file/d/1nfnh_0ZD0IGbaB52zeQHGM4ESJTKJ5fQ/view" target="_blank">Tidefall Capital Management</a></li><li><a href="https://www.dropbox.com/sh/bkvnxsr7u27twgu/AABMPqyMuEORLDm6WSyqF7dla/Tollymore%20Q2%202020.pdf?dl=0" target="_blank">Tollymore Investment Partners</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q2.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202020%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f0dd29b6a8632767c30911b/1594741405126/Upslope+-+2020Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($RBA)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_61_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/07/VVP-Quarterly-Letter-20.06.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_a12f91a6fbfb4131afc3d1d848b4ae84.pdf" target="_blank">Wedgewood Partners</a> - ($AAPL, $BKNG, $BMY, $FB, $FLT)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Hickory Fund</a> - ($DLB)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/2q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5f0874ba8817e8400a707586/1594389693251/Quarterly+Letter+-+Q2+2020.pdf?utm_medium=email&_hsmi=91143433&_hsenc=p2ANqtz-8Ko2sOTz4bmQKkH-p3YIfULcolG5rwew-9bA1O9V_uN53WPygN_Q0fFs4scHhjzt3id6F-RguAoCQJ0AJnhDfYRrOHHA&utm_content=91143433&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">1st Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5eb05bb94b525e14b5bea7bc/1588616121738/Q1%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($GMS)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/04/Akre-Focus-Fund-Quarterly-Commentary-2020-Q1.pdf">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($EVBG, $EHTH, $QDEL, $CMD, $HSKA, $TCMD)</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a> - ($AMZN, $NVDA, $NFLX, $CBOE, $FB, $APPL, $V, $MDB).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/04/Alluvial-Capital-Management-Q1-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2020-q1.pdf">Alphyn Capital Management</a> - ($EXXRF, $BAM, $KKR, $BRFRF, $WANSF, $CDAY, $CFX, $OSSIF).</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5eab8f05c455f14a97fbcb32/1588301573873/Q1+2020+Alta+Fox+Capital+Quarterly+Letter-+Final+%281%29.pdf" target="_blank">Alta Fox Capital Management</a> - ($MMMB, $EVVTY, $GMMNF)</li><li><a href="https://drive.google.com/file/d/1y1uNGXNScAjx27rcd6yZf_U6GFWLtmVd/view">Andaz Private Investments</a></li><li><a href="https://ift.tt/2za22cd">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2020/02/APPLX-Q4-2019-Letter.pdf">Appleseed Fund</a> - ($HRTX, $NLY).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/45aea71a-f4d5-4f4b-98c2-44acc7934978/Arquitos_Investor_Letter_Q1_2020.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $SYTE, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($KMT, $NVST, $PGR).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/04/Arisaig-Quarterly-April-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTKX-APDKX-APHKX-QCommentary-1Q20-vR.pdf">Artisan International Value Fund</a> - ($BABA, $TCOM, $SLB, $TS, $SU, $SNE, $DANOY, $CNHI).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTMX-APDMX-APHMX-QCommentary-1Q20-vR.pdf">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTSX-APDSX-APHSX-QCommentary-1Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2020-partner-letter-X7QTZR97" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/04/Coronavirus-The-Cure-Is-Worse-Than-The-Disease.pdf">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.20.pdf">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.20.pdf" target="_blank">Baron Discovery Fund</a> - ($INGN, $QLYS, $FND, $SIEN, $PAR, $TXMD, $EVBG, $KTOS, $PENN, $AXNX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.30_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.2020.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.20.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_3_31_bca_scv_marketcomm_final.pdf" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $MEDP, $SP, $CNK, $PLOW, $CRNC, $TREE, $SERV).</li><li><a href="https://s3.amazonaws.com/bireme/1Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $BKNG, $WFC, $RICK, $KRG)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/04/Investor-Letter-Q1-20-FINAL.pdf">Blue Hawk Investment Group</a> - ($MSFT, $MTCH, $NFLX, $EA, $INTU, $ISRG, $V, $FB, $CHTR, $FND, $STZ, $NYT, $SPLK, $LULU).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e93edd2125a911e469ed339/1586752979541/2020+Q1.pdf">Blue Tower Asset Management</a></li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/762bb2f1-3530-4df8-9178-1acf0c0568f6/0520_Bonhoeffer_Partner_Letter_Q1_2020.pdf" target="_blank">Bonhoeffer Fund</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4595129/1Q_2020_BVG%20Letter.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=87095134&_hsenc=p2ANqtz-8G6GJm2tQ-xl7UIJ2SOoumqTKP4AhC-pkmfW5viIuwNsaxl8CcHOkHkKE0NZfnwUAC6TZZuSUzpyAM76WVz55zUySpCQ&_hsmi=87095134" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf1q20commentary.pdf">Brown Capital Management Mid Company Fund</a> - ($DXCM, $SHOP, $NCLH, $BFAM, $TDOC)</li><li><a href="https://browncapital.com/system/files/scf1q20commentary.pdf">Brown Capital Management Small Company Fund</a> - ($QDEL, $VEEV, $MANH, $PRO, $PLAN, $DDOG, $KIDS, $INCY).</li><li><a href="https://browncapital.com/system/files/ief1q20commentary.pdf">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q20commentary.pdf">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/04/Broyhill-Portfolio-Update-2020.Q1-FINAL.pdf" target="_blank">Broyhill Asset Management</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://cedcapital.in/wp-content/uploads/2020/04/Quarterly-PMS-Letter-Mar20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e85354c10a8a95136c22668/1585788237400/Q12020.pdf">Comus Investments</a></li><li><a href="https://www.crescat.net/wp-content/uploads/Q1-2020.pdf" target="_blank">Crestcat Capital</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/ecf4cd6f-3eb2-4b0c-8efb-1f9d281cfd7f/2020_Q1_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200331_Diamond-Hill_Small-Cap-Fund-Commentary.pdf">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/dcp_1q20_update" target="_blank">Distillate Capital</a></li><li>D<a href="https://mcusercontent.com/90031b83688dd5c83d79fcf31/files/a3202ae7-9dca-471c-94ed-340f07250b85/DKAM_ROE_Reporter_April_2020_.pdf" target="_blank">onville Kent Asset Management</a></li><li><a href="https://www.docdroid.net/kfBxxVh/elliot-letter-april-162020-perspectives-paul-singer-elliott-pdf#page=9">Elliot Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2020/" target="_blank">Ensemble Fund</a></li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2020.pdf">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/04/16115847/Client-Letter-Q1-2020_FINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://ift.tt/2VWR7dz" target="_blank">Firebird Management</a></li><li><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_Gold-Update.pdf" target="_blank">First Eagle Global Fund</a></li><li><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200331.pdf">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200331.pdf">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200331.pdf">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200331.pdf">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-03_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NBL, $VNOM, $ISBC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-update-q1-2020.pdf?sfvrsn=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/2020-3-fef-letter-to-shareholders.pdf?sfvrsn=12">Fundsmith Equity Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5e8f6c4e02b8fa04bead5904/1586457686283/GCAM+initial+letter+2020-03-27.pdf" target="_blank">Giverny Capital Asset Management</a> - ($GOOG, $GOOGL, $KMX, $BRK.B, $PGR, $SCHW, $SSNC, $HEI, $MKL, $ANET)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ea425773459dd34b66cf263/1587815799646/Greenhaven+Road+Letter+%282020+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($SHSP, $APPS, $KKR, $PAR, $KLR, $CSSE, $OPT)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.05.10-Confessions-v3.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4043042/Commentaries/2020.Q1%20Commentary/2020.Q1%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-1Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-1Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q1.pdf" target="_blank">Hayden Capital</a> - ($IBKR, $CVNA)</li><li><a href="http://m.heartlandadvisors.com/mid-cap-value-fund-q1-commentary.pdf" target="_blank">Heartland Mid Cap Value Fund</a> - ($WU, $PXD, $AAP)</li><li><a href="http://m.heartlandadvisors.com/select-value-fund-q1-commentary.pdf" target="_blank">Heartland Select Value Fund</a> - ($GRC, $CALM, $JNJ)</li><li><a href="http://m.heartlandadvisors.com/value-fund-q1-commentary.pdf" target="_blank">Heartland Value Fund</a> - ($MDU, $MDC,$EVTC)</li><li><a href="http://m.heartlandadvisors.com/value-plus-fund-q1-commentary.pdf" target="_blank">Heartland Value Plus Fund</a> - ($IDCC, $HTLD)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q1NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2020-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($BA, $ADM, $CRL, $ICE, $BTC).</li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q20.pdf" target="_blank">Horos Asset Management</a> - ($TGP, $TK, $GLNG, $AER, $NPSNY).</li><li><a href="https://www.dropbox.com/s/nqwe7xcvwjfxysy/Huffman%20Prairie%20-%201Q2020%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/02/2019-Annual-Letter-JDP-Capital-Management.pdf">JDP Capital</a> - ($SPOT, $STNE, $XPO)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5ea5f560592a27104f5c8cf0/1587934561140/Laughing+Water+Capital+Q1%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/ofrydh35bl0xctw/Lightsail%201Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/ltglobal-equity-fund/LTGEF_Latest.pdf">Lindsell Train</a>- ($WWE, $DIS, $DEO, $BF.A, $EBAY, $PYPL, $INTU)</li><li><a href="https://southeasternasset.com/commentary/1q20-llpf-commentary/">Longleaf Partners Fund</a> - ($H, $DD, $CTL, $CNHI, $PK, $CKHUY, $MAT).</li><li><a href="https://southeasternasset.com/commentary/1q20-llgl-commentary/">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llin-commentary/">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/04/2020-03-March-Performance-Update-Public.pdf">LRT Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a> - ($CSL).</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5ea1a3fb6d7e355e7a72a301/1587651580748/Maran+Partners+Fund+LP+2020+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20First%20Quarter%20Letter%20to%20Investors.pdf?utm_source=hs_email&utm_medium=email&utm_content=86138479&_hsenc=p2ANqtz-85M_ZqQO42g6PDwSL7bISxrDZM6OIQj5JzJ9uWzZx5Pf0pU87NtPhlX2MKkKLQ0F5775rJ5yF6-0W92JiA-wFdmFYs5g&_hsmi=86138479">Massif Capital</a></li><li><a href="https://www.mawer.com/assets/Newsletters/1Q20-Quarterly-Series-A-Net-1.pdf">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_b57612e6cdaa48429a600bdfe37560c4.pdf">Merion Road Capital</a> - ($CPRT, $EVBG, $RMCF)</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2020_03.pdf">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2020_03.pdf">Moneta MultiCaps C</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/04/2020Q1.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($GSK)</li><li><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2020/">Oakmark Fund</a> - ($AXP, $MTCH, $PINS, $WDAY)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2020/">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2020/">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d588a8b5d90047478bfcd71d0c8dd0a1.pdf">Old West Investment Management</a></li><li><a href="https://drive.google.com/file/d/1tD5XOGaM8cls4v95DSXFF131OYYpAMxE/view" target="_blank">Open Square Capital</a></li><li><a href="https://www.osam.com/pdfs/research/OSAM%20Update_Blizzard,%20Winter,%20or%20Ice%20Age_FINAL.pdf">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a> - ($AAP, $AGI, $BHE, $CRI, $CASS, $DKS, $EZPW, $GENC, $HCSG, $HP, $SLV, $KELYA, $OR, $SCHL, $SKX, $SP, $SYKE, $UNF, $UG, $WMK).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ABT, $BKNG, $FB, $ORLY, $ADSK, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5ea714f9981de6313a251243/1588008188839/RF+Capital+Q1+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/a591f71a-64ef-4ca1-80dc-2ea2a4646172/Rhizome_Partners_Q1_2020_Investor_Letter_Final.pdf">Rhizome Partners</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/04/Q1-2020-Investment-Commentary-FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($NUAN)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q20.pdf">RiverPark Large Growth Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_1Q20.pdf">RiverPark Long/Short Opportunity Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT, $COST, $APO, $KKR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_1Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($FAST, $KEYS, $MSFT, $ROSS).</li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan-Street-Capital-Q1-2020-Letter-1.pdf" target="_blank">Rowan Street Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_4ad59d00e289448cabcd6a61a130760e.pdf" target="_blank">Saga Partners</a> - ($AYX $CVNA $DBX $FB $LGIH $LIMAF $TTD $TRUP $VSEC $WIX)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q1-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q1-2020-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q1-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://moiglobal.com/wp-content/uploads/Semper-Vic-Partners-L.P.-Letter-to-Investors-April-2020.pdf" target="_blank">Semper Vic Partners</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ee82efca-a8be-4855-b3e0-e3ba3069a318&Name=Q1_2020_-_Investor_Letter">Sequoia Fund</a></li><li><a href="https://smeadcap.com/files/7915/8696/1388/1Q_2020_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://srk-capital.com/content_files/2020/05/SRK-Fund-Q1-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/04/STJIC-Adviser-Letter-2020-Q1.pdf">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ff8c300-0ef4-4034-914b-cbd5c86d581d/Steel_City_Capital_1Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/1Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a></li><li><a href="https://taovalue.files.wordpress.com/2020/05/taovalue_2020_q1_final-1.pdf" target="_blank">Tao Value</a> - ($GILD, $CACC, $ADS, $NXRT, $$BILI)</li><li><a href="https://static1.squarespace.com/static/54ce2abfe4b0513e12ea592f/t/5e886ec613e1233cd43c8cae/1585999558895/Templeton+and+Phillips+Commentary+-+March+2020.pdf">Templeton and Phillips Capital Management</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a> - ($CALM, $CET, $BATRA, $BATRK).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAVFX-Shareholder-Letter-Web.pdf">Third Avenue Value Fund</a> - ($BMWYY, $DB, $IFSPF, $HA, $ORI, $FDX, $VNO)</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/04/Third-Point-Q1-2020-Investor-Letter-TPOI-1.pdf" target="_blank">Third Point</a></li><li><a href="https://drive.google.com/file/d/1jshHJg_zQ30ZvmrU8iBTIBX9zE6CDtdo/view" target="_blank">Tidefall Capital Management</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q1.pdf">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202020%20-%20Final.pdf">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e99e67f7f671d105bf293af/1587144320124/Upslope+-+2020Q1+Letter.pdf" target="_blank">Upslope Capital Management</a></li><li><a href="https://www.docdroid.net/q7NxMcX/universa-investments-q1-2020-letter-pdf#page=6">Universa Investments</a></li><li><a href="https://mcusercontent.com/2686100c548ffa2b413d5cb29/files/3cb819ec-c2d9-4ff5-870b-cc86b4d93fbd/Vltava_Fund_Letter_to_Shareholders_Q1_2020.pdf">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/04/VVP-Quarterly-Letter-20.03.31.pdf">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q1-2020-REV-FNL.pdf">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200406/pdf/44gqxsc6q8zjdy.pdf">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f47cdae028142f1ade840f42986ab09.pdf">Wedgewood Partners</a> - ($FAST, $FB, $KEYS, $MSFT, $ROSS, $NVDA, $EA, $BKNG, $EW).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/1q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://mcusercontent.com/d194e1b3fd218137abdb074da/files/90c79ff7-93d3-49ac-9da6-1f1ea8209ae0/2020_04_16_White_Crane_Q1_2020_Letter.pdf">White Crane Capital</a></li><li><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/securepdfs/2020/04/23094734/Wolf-Hill-Q1-2020-Letter.pdf" target="_blank">Wolf Hill Capital</a> - ($HGV, $MIDD)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5ea1a3a3bc77342600cf7649/1587651493472/Worm+Capital+-+Q1+2020+Investor+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><span style="font-size: large;"><br /></span><span style="font-size: large;">4th Quarter 2019</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5e35af9e12c5156ca6085326/1580576670740/Q4%2719+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($ISDR, $RICK, $TSSI, $DPZ)</li><li><a href="https://drive.google.com/file/d/1ANcyf36aA9H83xfjYF3N5Z6Rc2YaS75q/view" target="_blank">2Point2 Capital</a></li><li><a href="https://gallery.mailchimp.com/f6660ee7c7b25c0643c0e8337/files/53f90575-0084-456e-b563-3e47282ae860/Admiral_Cap_4Q19_Letter.pdf">Admiral Capital Partners Fund</a> - ($CVNA, $GDDY, $GTT).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/01/Alluvial-Capital-Management-Q4-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $CRAWA, $BUKS, $NUVR, $LICT)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5e3633d4cd5a0d4354e18334/1580610521595/Q4+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q4.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://drive.google.com/file/d/1OSNsquPrryvmnAYEPpfK8VMGtb5qSILE/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://ift.tt/2TwwgOx" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($ARDX, $SAVE, $MOS, $SINA, $SNE, $RYAAY).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Funds</a> - ($CCL, $NLSN).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/APFDX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTMX-APDMX-APHMX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($SWKS, $TW, $CMS, $UA, $ABMD, $ZS, $BURL, $AMD, $ANET, $SERV, $DXCM).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTSX-APDSX-APHSX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTLX-APDLX-APHLX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2019-partner-letter-w57TvkLz" target="_blank">Artko Capital</a> - ($MO, $REPH, $GAIA, $RSSS)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/02/2020-02-17-Askeladden-Capital-Q4-2019-Letter-Breaking-Bad.pdf">Askeladden Capital</a></li><li><a href="https://content.rwbaird.com/RWB/Content/PDF/AssetManagement/Q3-2019-Mid-Cap-Growth-Mutual-Fund-Commentary.pdf">Baird MidCap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Asset Fund</a> - ($DXCM, $SAGE).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Discovery Fund</a> - ($PGNY, $ESPR, $SIEN, $SITE, $ICHR, $TXMD, $MRCY, $FSCT, $TCMD, $SCPPF, $OLLI, $BRP, $CDNA).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%2012.31.19_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Real%20Estate%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="http://www.bernzott.com/uploads/1/5/9/5/15953620/2019_12_31_bca_scv_marketcomm.pdf?utm_source=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $PLOW, $LOGM, $MG, $MIK, $CNK, $CTLT, $EPAM, $AGS).</li><li><a href="https://s3.amazonaws.com/bireme/4Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a> - ($KRG, $DNKN)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/01/Q4-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e2e81226ba9076709046053/1580106019545/2019+Q4.pdf" target="_blank">Blue Tower Asset Management</a></li><li><a href="http://boyarvaluegroup.com/bvg-pdf/4Q_2019_BoyarResearch.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=82628381&_hsenc=p2ANqtz-_eFJS4AvVpyZPJ93cqx7hT_a3Ecgy_iQ8I_KJWvq6pyI5hY8KWOrRF3lJXq2wgq7vsVrrVKm3ExXWqv88qtB2prmxWqg&_hsmi=82628381" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf4q19commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf4q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($VEEV, $GKOS, $TNDM, $SMAR).</li><li><a href="https://browncapital.com/system/files/ief4q19commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf4q19commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/02/The-Broyhill-Letter-2020.02-FINAL.pdf">Broyhill Asset Management</a></li><li><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2020/01/bumbershoot-holdings-2020-1-jan-letter-to-partners-2019-1.pdf" target="_blank">Bumbershoot Holdings</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://citronfund.com/wp-content/uploads/2020/01/Citron-Capital-Annual-Investor-Letter-for-2019.pdf" target="_blank">Citron Capital</a> - ($RH, $PTON).</li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2019+Q4+Letter.pdf">Coho Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e181bff65c626738a349429/1578638336674/FY2019.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($YUMC, $FRRVF, $PTC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5e3048cf9826d330d5c2854e/1580222671293/Q4+and+YE+2019+Letter.pdf" target="_blank">Curreen Capital</a></li><li><a href="https://danwang.co/2019-letter/" target="_blank">Dan Wang</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a>.</li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFAnnualReview.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYVFPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Midcap-Letter-4Q19.pdf" target="_blank">DF Dent Midcap Growth</a> - ($ODFL, $TWLO, $VEEV, $ANSS, $MCO, $CBRE, $VRSK, $VMC, $MKL).</li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Small-Cap-Letter-4Q19.pdf" target="_blank">DF Dent Small Cap Growth</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/191231_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/90031b83688dd5c83d79fcf31/files/48eecab4-b7af-4d56-8e05-f3d54f33d10f/DKAM_ROE_Reporter_January_2020_.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://www.nsx.com.au/ftp/news/021737727.PDF" target="_blank">East 72 Holdings</a></li><li><a href="https://gallery.mailchimp.com/dd77d6a119e511a93e9308144/files/98e445bf-1c22-4a23-8a6b-1d71d798899f/Edgebrook_Mid_Year_Letter_2019.pdf" target="_blank">Edgebrook Partners</a> - ($APEUF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2019/" target="_blank">Ensemble Fund</a> - ($PAYX, $BR)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2019.pdf">Evermore Global Value Fund</a> - ($IAC, $MTCH, $ANGI, $STNG, $KRA, $ENZ).</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15183252/Q4-2019-Broadview-Dark-Horse-Quarterly-Letter.pdf" target="_blank">Ewing Morris Dark Horse</a> - ($LQSIF)</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15170401/Q4-2019-Final-1.pdf" target="_blank">Ewing Morris Opportunities Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-12_final.pdf?sfvrsn=8">FPA Capital Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2019.pdf?sfvrsn=6" target="_blank">Fundsmith Equity Fund</a></li><li><a href="http://gatorcapital.com/wp-content/uploads/2020/01/GFP-Q4-Investor-Letter-Updated.pdf" target="_blank">Gator Capital Management</a></li><li><a href="http://www.givernycapital.com/en/doc/236/Giverny_Capital_-_Annual_Letter_2019_web_.pdf">Giverny Capital</a></li><li><a href="http://www.goodhavenfunds.com/media/pdfs/2019_AR.pdf" target="_blank">GoodHaven Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5e4703048934db2c06ec56ae/1581712134756/Greenhaven+Road+Letter+%282019+Q4%29.pdf">Greenhaven Road Capital</a></li><li><a href="https://www.scribd.com/document/443770600/Greenlight-Q4-2019#download&from_embed" target="_blank">Greenlight Capital</a> - ($AER, $AGO, $ATC, $BHF, $CC, $GM, $GRBK, $NFLX, $DXC).</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.01.23-Q4-Letter-v5.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-4Q19-Report.pdf">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2019/IE-4Q19-Report.pdf">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2019/ISC-4Q19-Report.pdf">Harding Loevner International Small Companies Equity</a> - ($GUZOF, $ALICORC1, $PGENY).</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-4Q19-Report.pdf">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q4.pdf">Hayden Capital</a> - ($SE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($LEG, $EXC, $UMBF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SCHW, $GTS, $CONE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TBBK, $AMRC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($ASB, $PAHC)</li><li><a href="http://www.hgcinvest.com/wp-content/uploads/2020/01/HGC-Arb-Letter-December-2019.pdf" target="_blank">HGC Investment Management</a> - ($GSAC, $DEAC).</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2019Q4NP.pdf">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q4-2019-Horizon-Kinetics-Commentary_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q19.pdf">Horos Asset Management</a></li><li><a href="https://www.dropbox.com/s/wj5xngs5dpjc0la/Huffman%20Prairie%20-%202H2019%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a> - ($PKE)</li><li><a href="https://l1international.com/wp-content/uploads/2020/01/L1-Capital-International-Fund-Quarterly-2019-12.pdf" target="_blank">L1 Capital International Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5e3b0e94a8e0ad4a457d4a5e/1580928660765/Laughing+Water+Capital+YE+2019.pdf">Laughing Water Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/lt-uk-fund/2019/LTUK_MR_2019_12.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5e33310f6cac3d0b6f0a070d/1580413200079/4Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $CTEK, $SFE, $PESI)</li><li><a href="https://southeasternasset.com/commentary/4q19-llpf-commentary/">Longleaf Partners Fund</a></li><li><a href="https://www.lyricalam.com/wp-content/uploads/2020/01/LAM-2019-Review-letter.pdf" target="_blank">Lyrical Asset Management</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5e323c32f8043d0750f9a1f1/1580350515744/Maran+Partners+Fund+LP+2019+Q4+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RNGR, $SDI).</li><li><a href="https://www.mcmadvisors.com/wp-content/uploads/2020/01/Martin-Capital-Management-2019-Annual-Report.pdf" target="_blank">Martin Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Year%20End%20Letter.pdf?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-8wWAtvLCSJ92jhQUdjS_UF5sLUTcGZPdtnlxPMJfKIFGmlgVgnj1U2Yj9GHeBoCbudkm9l" target="_blank">Massif Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_4b6d6eb57e724504b2acd6925fe444a6.pdf" target="_blank">Merion Road Capital</a> - ($TTWO, $ODP)</li><li><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf">Miller Value Fund</a> - ($FTCH, $ET, $CDEV).</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2019_12.pdf" target="_blank">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2019_12.pdf" target="_blank">Moneta MultiCaps C</a></li><li><a href="https://drive.google.com/file/d/1HXfARV-D0Ty0LjixHFdMQc9keEOyV3XN/view" target="_blank">MPE Capital</a> - ($CACC).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/01/2019-Nelson-Roberts-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($IBM)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Fourth-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_1eee8738221f439bacc164cda1472ccf.pdf">Old West Investment Management</a> - ($GOLD)</li><li><a href="https://www.osam.com/pdfs/research/Q4%202019%20Investor%20Letter%20-%20FINAL.pdf" target="_blank">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmharbourcapital.com/files/PHC%20Q4%202019%20Letter.pdf" target="_blank">Palm Harbour Capital</a></li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_7f7cfd9362f1496597164ec1ee5a1757.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/dab30c88-52e6-425d-94a0-2f672f543d3f/4Q19%20Parnassus%20Core%20Equity%20Fund%20Commentary.pdf">Parnassus Core Equity Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/fc4897bd-50cb-43fb-9296-bddb814716c6/4Q19%20Parnassus%20Mid%20Cap%20Fund%20Commentary.pdf">Parnassus Mid Cap Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $CRM, $ABT, $NOW, $ORCL).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Global Growth</a> - ($MSFT, $BABA, $ABT)</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5e66d8317891847c6cd48c38/1583798321575/RF+Capital+Q4+2019+Investor+Letter.pdf">RF Capital Management</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/01/2019-Year-End-Commentary_FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($ANGI, $DBX, $GRUB, $TWTR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($AAPL, $UNH, $BX, $MSFT, $ADSK, $SDC, $TWTR, $NOC, $TDC, $TWLO).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_4Q19.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_4Q19_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/01/Dont-Cha-Know.pdf" target="_blank">RLT Capital</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Fund.pdf">RMB Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Small-Cap-Fund.pdf">RMB Small Cap Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-SMID-Cap-Fund.pdf">RMB SMID Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/aaf68a26-7a10-4c45-bfe1-fb0cb97b85d1/Saber_Investment_Fund_Q4_2019_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c69e35b055894d1aad827cde8423bc2f.pdf">Saga Partners</a> - ($TTD, $LIMAF, $FB, $LGIH, $VSEC, $CVNA)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q4-2019-web.pdf">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q4-2019-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q4-2019-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://static.fmgsuite.com/media/documents/c388840b-3dda-41da-a062-077bf785255b.pdf">Semper Augustus</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=7a947f03-c188-49d6-b32f-9cddfe5ebb9a&Name=Q4_2019_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://gallery.mailchimp.com/57cdfc490b101d54b70128c06/files/a813a300-8f68-43cb-8b3d-2fa28aed58fb/SilverRingValuePartners_2019Q4_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/files/9315/7910/2122/4Q_2019_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://www.socialcapital.com/annual-letters/2019.pdf">Social Capital</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_d91d278701ba4b21afd564ffabb36d1f.pdf" target="_blank">Spree Capital</a> - ($RST, $MTCH, $FERGY).</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2019-Annual-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($TARO, $EGRX, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2020/02/taovalue_2019_q4_final.pdf">Tao Value</a></li><li><a href="https://www.langfrist.de/dokumente/2019_e_Rubicon_full.pdf" target="_blank">TGV Rubicon Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($GPOR.L, $HHC, $PSA, $VNO, $SRG, $FPH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BMWYY, $DB, $MAC).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/01/Third-Point-Q4-2019-Letter-TPOI-Final.pdf" target="_blank">Third Point</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2019-Q4.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://mcusercontent.com/2506bda6ca9a8b7ce8b3c54b4/files/0c17bc16-6a20-4c24-8459-53e800315fe7/TARF_2019_Annual_Commentary_vFinal.pdf" target="_blank">Tyro Capital Management</a> - ($MO, $REPH, $SKY, $SMCI, $MTCH, $UBSFF, $BXC, $MYOV)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e209a872cfe3e653d0bd4bd/1579195017065/Upslope+-+2019Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FOCS, $DLTR)</li><li><a href="https://www.dropbox.com/s/lgqbpo4oownzo5m/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q4%202019%20%28V1.1%29.pdf?dl=0&utm_source=The+Vilas+Fund%2C+LP&utm_campaign=d48e03b6f7-4Q2019+Main&utm_medium=email&utm_term=0_d81d32d2af-d48e03b6f7-431110445" target="_blank">Vilas Fund</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_58_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200108/pdf/44d49tnm31r1hz.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_b41d00a2669749f4babb2c468e820ecd.pdf" target="_blank">Wedgewood Partners</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners III Opportunity Fund</a> - ($SIRI, $LSXMB, $EVREF).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/ds32xz73grnzqbxdargxzancsg91q7it" target="_blank">White Brook Capital</a></li><li><a href="https://gallery.mailchimp.com/d194e1b3fd218137abdb074da/files/a8558333-dad0-40c8-8abd-8468fb20e0f9/2020_01_21_WCMSF_Q4_2019_Letter.pdf" target="_blank">White Crane Capital</a></li><li><a href="https://www.docdroid.net/tJT1NRd/wolf-hill-2019-year-end-letter.pdf" target="_blank">Wolf Hill Capital</a> - ($CNR, $REGI, $WTSHF)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5e1d007471426f2f29068da4/1578958966239/Worm+Capital+2019+Year+End+Letter.pdf" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">3rd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/10/Alluvial-Capital-Management-Q3-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $LICT, $NUVR, $APTL, $NORSA, $PIOE, $MHGU, $ITD.IM, $EDAC.IM, $SIO.IM)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5db8fdd21b54db1101ac3c18/1572404691231/Q3+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($KRMD, $KYYWF, $STKS)</li><li><a href="https://www.docdroid.net/I8sosdq/andaz-notes-2019-09-30.pdf" target="_blank">Andaz Private Investments</a> - (CBS.B, $VIAB)</li><li><a href="https://ift.tt/35Tb1KD" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($SINA, $WB, $MOS, $SAVE, $ARDX, $SNE, $RYAAY)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/eb95b5c5-e141-4f87-b0d5-95d5e1a7a2a5/Arquitos_Investor_Letter_Q3_2019.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BX, $BWA, $DIFTY, $ZBH)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTMX-APDMX-APHMX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($ALXN, $EXAS, $GDI, $GWRE, $CTLT, $BURL, $PAGS, $LHX, $ANET, $ASND)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTSX-APDSX-APHSX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-3q-2019-partner-letter-EvrTnLGB" target="_blank">Artko Capital</a> - ($FTK, $LEAF, $SKY, $USAT, $EEI, $SPAR)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/11/2019-10-28-Askeladden-Capital-Q3-2019-Letter-Earn-It.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Asset Fund</a> - ($CCC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Discovery Fund</a> - ($TXMD, $FND, $TREX, $MRCY, $KNSL $VRAY, $SILK, $BE, $CDNA, $TPIC, $MDLA, $PING, $WMS, $VRNS, $INGN)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Investor%20-%20Baron%20Small%20Cap%20Fund%203Q19.pdf" target="_blank">Baron Small Cap Fund</a> - ($CDAY, $CCC, $COLD)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $SP, $PLOW, $OI, $AGS, $QUOT,$ CTLT, $EPAM, $KN, $CLDR, $AGS, $GNRC)</li><li><a href="https://s3.amazonaws.com/bireme/3Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $COKE)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/10/Q3-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($SFIX, $GRUB, $MTCH, $NFLX)<span id="goog_146329209"></span><a href="https://www.blogger.com/"></a><span id="goog_146329210"></span></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5dad22ac218aa17443c4035b/1571627692663/2019+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2d3eecc8-c31e-45c7-8c24-e0e1a8269ac3/1019_BCM__Partner_Letter_Q3_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $CAMB.LN)</li><li><a href="https://browncapital.com/system/files/scf3q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($TYL, $MANH, $ABMD, $INGN)</li><li><a href="https://browncapital.com/system/files/mcf3q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a> - ($EW, $TYL, $ALGN, $ULTA, $MKTX, $CRL, $JBHT)</li><li><a href="https://browncapital.com/system/files/ief3q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a> - ($CZMWF, $ESLOY, $QGEN, $IPSEF, $MONOY)</li><li><a href="https://browncapital.com/system/files/iscf3q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/10/2019-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> ($RUBI, $BXC, $HOME, $QMCO)</li><li><a href="https://drive.google.com/file/d/1jzHBEfehpV9TfzwFhiGl91UMVtnGwWjS/view">Compound Everyday Capital</a></li><li><a href="https://gallery.mailchimp.com/a6cd0be2415ea775a57718587/files/14809e7f-2f16-4cb8-8fb3-8c589f63c6ed/50._Q3_2019.pdf" target="_blank">Compound Money Fund</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5db88acf71786e4ef3228683/1572375248129/2019Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($IPGLF, $NVST, $A, $FRC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5da0d2a16603d478b62581b4/1570820769906/Q3+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($GTX, $KTB, $MFGP, $BLD)</li><li><a href="https://davisfunds.com/downloads/DFFInterview.pdf" target="_blank">Davis Financial Fund</a></li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a> - ($JD, $AMAT)</li><li><a href="https://davisfunds.com/document/read/DNYPMComm" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/bf83181f-b69f-4ece-a640-a4007c15ed07/Q3_2019_Investor_Letter_Desert_Lion_Capital.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/190930_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/10/E72-Quarterly-Report-Sept-2019.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $DTLA, $FFXDF, $VULC, $PICO)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2019/" target="_blank">Ensemble Fund</a> - ($MA, $TIF)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2019.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2019/10/07164955/Quarterly-Update-Q3-2019.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/funds/shrpt/ann_shrpt_093019.pdf" target="_blank">Fiduciary Management FMI Large Cap</a> - ($HDS)</li><li><a href="https://t.co/3lQBLZ89rY?amp=1" target="_blank">Firebird Management</a> - ($LNC, $GES)</li><li><a href="https://focusedcompounding.com/wp-content/uploads/2017/06/Q3_2019_Letter_to_Clients-1.pdf" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI, $TPHS, $KEWL, $MLP)</li><li><a href="https://www.asx.com.au/asxpdf/20191011/pdf/449dftp5k138nd.pdf" target="_blank">Forager Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2019-q3b0f6f4531b0367849d6cff0000f7084a.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-09.pdf?sfvrsn=8" target="_blank">FPA Capital Fund</a> - ($AMBA, $NBL, $DAN, $IDCC)</li><li><a href="http://gatorcapital.com/wp-content/uploads/2019/10/GFP-Q3-Investor-Letter.pdf" target="_blank">Gator Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5daa7eaeab96a61181bef76f/1571454639744/Greenhaven+Road+Letter+%282019+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($NTDOY, $CSSE, $KKR, $BXC, $APPS, $PAR, $SHSP, $GIGRT, $GIGWS)</li><li><a href="https://www.docdroid.net/hM7Tnw8/qlet2019-032.pdf" target="_blank">Greenlight Capital</a> - ($NFLX, $TSLA, $CC)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.11.14-Q3-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://ift.tt/34FFgn5" target="_blank">Goehring & Rozencwajg</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q3.pdf" target="_blank">Hayden Capital</a> - ($CACC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a></li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SAFM, $MHK, $CVS)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($VST, $LNDC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a></li><li><a href="https://www.docdroid.net/pCmtahr/hellerhouseopportunityfund-2019q2letter-public.pdf#page=17" target="_blank">Heller House Opportunity Fund</a> - ($SHOP $WORK $ROKU)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://www.dropbox.com/s/l24e3ilw0j2kkyq/Lightsail%203Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/investment-insights/2019/Are%20You%20Experienced%20-%20November%202019.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5db9dbd123316d682a695a20/1572461522295/3Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $PSSR, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/3q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CTL, $GOOG, $GOOGL, $CMCSA, $GE, $FDX, $FRFHF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5db9f8173907823b364ebba8/1572468760093/Maran+Partners+Fund+LP+2019+Q3+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RCMT)</li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Third%20Quarter%20Letter%20to%20Investors.pdf" target="_blank">Massif Capital</a> - ($DO, $TOO, $EAF, $DE, $UNP, $CSX, $NCLH)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_adb2e39184484fd5a9374a1b8ddad5fe.pdf" target="_blank">Merion Road Capital</a> - ($HXL, $IAA, $TRNS)</li><li><a href="https://www.hvst.com/organization/meson-capital-partners-llc/posts/meson-q3-update-man-vs-machine-wPZT3xZx" target="_blank">Meson Capital</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2019Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/10/2019-Q3-Nelson-Roberts-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($SIVB, $SCHW, $AKAM, $PFE, $DLR)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Third-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a> - ($GOOG, $CHTR, $DDAIF, $APA)</li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_fe35b044b6f9420aa65670c4b7dfbf7f.pdf" target="_blank">Old West Investment Management</a></li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_2044e47207184e0a96223be92f96d4b5.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.B, $CRD/B, $GENC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $IT, $MSCI)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a> - ($ALGN, $ABT, $SGSOY)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a> - ($TREX, $FND, $LMAT, $FOXF, $OLLI, $TREE, $APPF, $ALTR)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://files.constantcontact.com/07cbbb80601/d7746d56-0340-44ba-b2d3-fb41d43a159a.pdf" target="_blank">Rangeley Capital</a> - ($CHTR)</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5db930e3f152967e525fbd89/1572417764733/RF+Capital+Q3+Letter+2019.pdf" target="_blank">RF Capital Management</a> - ($FL, $GAPFF, $ZAGG, $GME, $GTX)</li><li><a href="http://www.rgaia.com/q32019-investment-commentary-kambi/" target="_blank">RGA Investment Advisors</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($GOOG, $BX, $AAPL, $NOC, $EQIX, $EXAS, $ALGN, $AMZN, $SDC, $ULTA, $TWLO)</li><li><a href="http://www.rmbcap.com/files/RMB_Core_Equity_-_Investor_Letter_3Q19.pdf" target="_blank">RMB Core Equity Fund</a></li><li><a href="https://themarketplunger.com/2019/11/12/q3-2019-letters/" target="_blank">Rockvue Capital</a> - ($UAA, $FOX)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/4d8542a4-48be-4664-bc79-6506621e8100/Saber_Investment_Fund_Q3_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_7f9545a28a0a48129a7920980b5b2f27.pdf" target="_blank">Saga Partners</a> - ($VSEC)</li><li><a href="https://sevencanyonsadvisors.com/resources/seven-canyons-world-innovators-quarterly-commentary/" target="_blank">Seven Canyons World Innovators</a></li><li><a href="https://docs.wixstatic.com/ugd/de07f6_0c03e7d62d824ca98a96fa974471a7fb.pdf" target="_blank">Spree Capital</a> - ($CFX, $CARS)</li><li><a href="https://srk-capital.com/content_files/2019/11/SRK-Fund-Q3-2019.pdf" target="_blank">SRK Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($SLGD, $BSTC, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2019/10/taovalue_2019_q3_final.pdf" target="_blank">Tao Value</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/11/2019-Q3-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($CLNY, $GWW, $HNGKY)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CTB, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2019/10/Third-Point-Q3-2019-Letter-TPOI-.pdf" target="_blank">Third Point Offshore Fund</a> - ($ESLOY, $SNE)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5da981abd30f37336bb612b3/1571389868322/Tollymore+letter+Sep+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($GRUB)</li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Fund</a> - ($KRNTY, $FOX $FOXA, $TBABF, $BIDU)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5da09b01c80d065ebaf8d703/1570806531156/Upslope+-+2019Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($IT)</li><li><a href="https://www.dropbox.com/s/vsrenaad14f2bxa/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q3%202019%20%28Final%29.pdf?dl=0&utm_source=Website+Signup+-+Vilas+Capital+Management%2C+LLC&utm_campaign=8004c87a9b-3Q2019+Ltr_Web&utm_medium=email&utm_term=0_0fbdf27fc5-8004c87a9b-431098533" target="_blank">Vilas Capital</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_57_en.pdf" target="_blank">Vltava Fund</a> - ($BRK.A, $BRK.B, $SBRCY, $BMWYY)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_03b9a051772a4b9792c849ed7f74150a.pdf" target="_blank">Wedgewood Partners</a> - ($CDW, BRK.B, $NVDA, $ULTA)</li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/3Q19_Value%20Matters.pdf?1572140971546" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/4giogadrnt294d6q8t3a4awtxhrkjmjh" target="_blank">White Brook Capital</a> - ($BOX, $GRPN)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5db752012422566f6f7f86a4/1572295170818/Q3+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><div><br /></div></div><span style="font-size: large;">2nd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/07/Alluvial-Capital-Management-Q2-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $NUVR, $MMAC, $RAMPF, $CLWY, $CMLS, $FTR)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5d3a2ee5c694120001688a00/1564094184541/Q2+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($PAYS, $KWS, $NTDOY)</li><li><a href="https://www.dropbox.com/s/19lcbm48spw3g9c/Andvari-2019q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MLAB, $UPLD, $APPN, $BL, $WDAY, $TYL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/08/APPLX-Q2-2019.pdf" target="_blank">Appleseed Fund</a> - ($CRTO, $SINA)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAZ, $TAP, $MTSC)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/6b4ee586-4e8c-4044-a1be-d9f30c4f9e34/Arquitos_Investor_Letter_Q2_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTMX-APDMX-APHMX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTSX-APDSX-APHSX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-2q-2019-partner-letter-EvrTnmKZ" target="_blank">Artko Capital</a> - ($CCNI, $JYNT, $WFCW, $FLL, $NRCGW)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/07/2019-06-29-Askeladden-Capital-Q2-2019-Letter-Askeladden-Reloaded.pdf" target="_blank">Askeladden Capital</a> - ($FC, $AER, $DLTH, $LGIH, $SFM, LQDT)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $IDXX, $SSNC, $BNFT, $IRDM, $FDS, $ACGL, $RRR, $TWOU, $CVET, $ADPT, $ALEC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $ACGL, $CHH, TSLA, $BNFT, $MANU)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($IDXX, $JBT, $SITE, $TTD, $BFAM, $GTT, $RRR, $CISN, $PRA, $CVET, $TREX)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_6_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $GNRC, $BV, $CLDR, $SSTK, $MIK, $EPAM, $SNPS, $LOGM, $INOV, $CARB, $MINI)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-2q19-quarterly-letter" target="_blank">Bireme Capital</a></li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/07/Q2-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $GRUB, $TRIP)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5d350ce2e13121000110246f/1563757795868/2019+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($CNR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/8ef5fe82-9246-4fdd-afb3-8bb4681ebb8b/0719_BCM_Partner_Letter_Q2_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $GTN)</li><li><a href="https://browncapital.com/system/files/scf2q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf2q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief2q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/07/2019-Q2-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($DEST, $BXC, $PAR)</li><li><a href="https://www.docdroid.net/IereKR2/coho-capital-2019-q2-letter.pdf" target="_blank">Coho Capital</a> - ($GDDY)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5d1909fa11a9570001ea18c8/1561922043505/2019Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FISV, $FRRVY, $FRRVF, $TTNDY)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5d2fbf4e8b4dd7000199603e/1563410254409/Q2+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($KTB)</li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/5fd3b3ea-7001-4c07-8d63-f95d455af921/Q2_2019_Desert_Lion_Capital_Letter.02.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/07/E72-Quarterly-Report-June-2019.pdf" target="_blank">East 72 Holdings</a> - ($AFTPF, $ADS)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2019/" target="_blank">Ensemble Fund</a> - ($BR, $SBUX, $FAST, $FRC, $GOOG)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($DIS, $BORR, $STING)</li><li><a href="https://www.ewingmorris.com/wp-content/uploads/2019/07/Q2-2019-Letter-vFINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2019/iso_lc_20190630.pdf" target="_blank">Fiduciary Management FMI Large Cap</a></li><li><a href="http://ift.tt/2lCHEK9" target="_blank">Firebird Management</a> - ($BV, $KSS)</li><li><a href="http://bit.ly/2IVHtCO" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q2-2019.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-06_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5d44bf055832920001fa4381/1564786438422/Greenhaven+Road+Letter+%282019+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($KKR, $APPS, $PAR, $SHSP, $ETSY, $NTDOY)</li><li><a href="https://www.docdroid.net/nGef9ZE/greenlightq2letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.08.19-Q2-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q2.pdf" target="_blank">Hayden Capital</a> - ($CMPR, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($RDN, $VST, $CALX)</li><li><a href="https://www.dropbox.com/s/5nuv7dwl1ciblrv/Lightsail%202Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5d46e8a04cbc950001226b6c/1564928160433/2Q19+letter.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $DAIO, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/2q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CMCSA, $GE, $AMG, $CTL, $HCMLY\$HCMLF, $CHKGF, $CNHI, $FDX, $MAT, $CNX) - ($CBLLF, $DE)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5d3b26b6b5cb710001c505e5/1564157623654/Maran+Partners+Fund+LP+2019+Q2+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $WLK, $BXC, $SVIN, $BH)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2019/07/MVIP-2Q19-Letter-FINAL.pdf" target="_blank">Mar Vista Investment Partners</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5d2dd3b02daa030001a79d58/1563284400621/Massif+Capital+Second+Quarter+Letter+to+Investors.pdf" target="_blank">Massif Capital</a> - ($CBLLF, $DE)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_109a2c968fa84fa2afd22765e9af9374.pdf" target="_blank">Merion Road Capital</a> - ($IAA, $KAR, $MHH)</li><li><a href="https://www.brookvine.com.au/wp-content/uploads/2019Q2_Mittleman-Global-Value-Equity-Fund_Qtrly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/13kJJaxTuFCpNSOGStboGQFTDcl6ywMQq/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q2-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ROP, $DLR, $PFE) </li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_704bd79f605041f3920f5f06d726faf1.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.A\$CRD.B, $CWGL, $NGS, $WMK, $UG, PTVCA\PTVCB, $AE, $DOX, $SCHL, $GENC)</li><li><a href="https://pershingsquareholdings.com/wp-content/uploads/2019/08/2019-Semiannual-Financials-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q2-2019-investment-commentary/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://gallery.mailchimp.com/bca5bc00638aa58b6cada7fab/files/3f913a70-cf19-4e27-8a1c-42a613be3200/Rhizome_Partners_Q2_2019_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($ADBE, $AMZN, $FIVE, $ISRG, $GOOG\$GOOGL, $FB, $AAPL, $BX, $EXAS, $MSFT, $DIS, $PANW, $TDC, $ADSK, $COG)</li><li><a href="https://themarketplunger.com/2019/08/10/2q-2019-letter/" target="_blank">Rockvue Capital</a> - ($EAF, $TH, $UAA)</li><li><a href="https://www.rvcapital.ch/wp-content/uploads/2019/08/Co-Investor_Letter_H1_2019-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/a676b819-a092-4246-8284-74178e0a6fa9/SIF_2019_07_19_Investor_Letter.04.pdf" target="_blank">Saber Capital Management</a> - ($FB, $WFC)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_cee76b8ab55c40bcbc31421f7759ca6f.pdf" target="_blank">Saga Partners</a> - ($TTD, $LIMAF, $FB, $TRUP, $UA)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_58cdbf3f06da4d9b9bfc3dfba3366371.pdf" target="_blank">Spree Capital</a> - ($CVET, $BB, $QCOM)</li><li><a href="https://assets.empirefinancialresearch.com/uploads/2019/07/EFD-7-1-Stanphyl-Capital-Letter-June-2019.pdf" target="_blank">Stanphyl Capital Management</a> - ($TSLA, $AVNW, $WSTL)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $BSTC, $ELMD)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5d1b720139ab94000119388b/1562079747536/Tollymore+letter+June+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($BID)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5d2cb4770f60db0001b4a56c/1563210872722/Upslope+-+2019Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FLIR, $HGV, $COKE, $PACK)</li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_56_en.pdf" target="_blank">Vltava Fund</a> - ($AN)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_d88728c47e5442b9aa1f1d731c89ef5b.pdf" target="_blank">Wedgewood Partners</a> - ($ALC, $BRK.B, $SCHW, $CTSH, $EA, $MSI, $ODFL)</li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1570807813238" target="_blank">Weitz Value Fund</a></li></ul></div><br /><span style="font-size: large;">1st Quarter 2019</span><br /><br /><div><ul><li><a href="https://gallery.mailchimp.com/b5aa12c5c889b46c0f8288f6d/files/a791ca4e-e5b2-4a25-b606-0d1d6c95f384/Alluvial_Capital_Management_Q1_2019_Letter_to_Partners_04.22.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $APTL, $IEHC, $HICKA)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7b8f29e3a8d0001860027/1556592883034/Q1+2019+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL - $PAYS, $JYNT, $RMBL, $STKS). <a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7baa5eb39310fecbc7bdf/1556593318315/Alta+Fox+STKS+Long+4.28.19.pdf" target="_blank">Full Pitch</a> on $STKS)</li><li><a href="https://www.dropbox.com/s/rax170rmix70bir/Andvari-2019q1-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($UPLD, $TLRA, $WDAY, $V, $MA, $TYL, $MKL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/05/2019-APPLX-semi-annual-letter.pdf" target="_blank">Appleseed Fund</a> - ($SKM, $ERJ)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($AXE, $KMX, $ZBRA)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/680d1b4b-376f-4a4a-9324-af9ff3abe4dd/Arquitos_Investor_Letter_Q1_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2019-partner-letter-wy9TLMel" target="_blank">Artko Capital</a> - ($REPH, $NRCGW, $GAIA, $EEI, $LEAF)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%203.31.19.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $SSNC, $IRDM, $ANSS, $NEOG)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $H, $IRDM, $GWRE, $TSLA, $BNFT, $CHH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%203.31.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($TTD, $TDG, $FND, $GWRE, $HUD, $OEC, $PRTY, $BJRI, $CCC, $OSW, $CCX.U)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAM, $SSTK,$VRNT, $MIK, $QUOT, $MG, $BV)</li><li><a href="https://bluehawkinvestors.com/q1-2019-investor-letter/" target="_blank">Bluehawk Investors</a> - ($MTCH, $FND)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-1q19-quarterly-letter" target="_blank">Bireme Capital</a> - ($AAPL, $BKNG)</li><li><a href="https://browncapital.com/system/files/scf1q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf1q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief1q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/05/2019-Q1-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $USX)</li><li><a href="https://drive.google.com/file/d/1YUpNRWvSGBBLMymAbEXUoOCqFON2ENEJ/view">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ca171d41905f4c611b9202c/1554084308682/2019Q1letter.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SHMZF, $APH, $FRRVY, $FRRVF, $DHR, BAM, $SAPIF)</li><li><a href="https://www.nsx.com.au/ftp/news/021736732.PDF" target="_blank">East 72 Holdings</a> - ($ING, $MKL, $Y)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2019/" target="_blank">Ensemble Fund</a> - ($LSTR, $GOOG, $GOOGL)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($BDRBF, $KRA)</li><li><a href="https://t.co/YPShTxBhfj" target="_blank">Ewing Morris</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-2019-q1.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-03.pdf?sfvrsn=6" target="_blank">FPA Capital Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5cc366e74442bb0001c72482/1556309735923/Greenhaven+Letter+%282019+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $APPS, $KKR, $ETSY, $SHSP, $BOX, $EVI, $FCAU, $CSSE)</li><li><a href="https://www.docdroid.net/H7KPSVZ/greenlight-capital-q1-2019.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.05.23-Q1-Letter-Building-Gamma.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-1Q19-Report.pdf" target="_blank">Harding Loevner Global Small Cap Equities</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-1Q19-Report.pdf" target="_blank">Harding Loevner Global Equities</a> - ($KHC, $NSRGY, $LYFT, $WBC, $VRTX)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($BRY, $ARAY, $NWPX, $CCS, $FSLR)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q1.pdf?utm_source=Hayden+Capital&utm_campaign=fc6ae8918e-EMAIL_CAMPAIGN_2019_05_12&utm_medium=email&utm_term=0_aae4c81ce6-fc6ae8918e-103558831" target="_blank">Hayden Capital</a> - ($SE, $ZLPSF)</li><li><a href="http://www.horancm.com/sites/default/files/users/horancm/Portfolio%20Activity%201Q2019.pdf" target="_blank">Horan Capital Management</a> - ($MTN, $ATVI, $BKNG, $AAPL, $THO, $TCEHY, $GOOG, $FB)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($K, $PEP, $NFLX, $AMZN, $TPL)</li><li><a href="https://jdpcap.com/wp-content/uploads/2019/05/1Q-2019-Presentation-.pdf" target="_blank">JDP Capital Management</a> - ($XPO, $TK, $SPOT)</li><li><a href="https://www.docdroid.net/3VOAy5K/laughing-water-capital-q1-2019.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/1brj1hqavl9r08n/Lightsail%201Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a> - ($DRTTF)</li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5caf96756e9a7f50f6f03ec5/1555011190189/1Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $EVI, $CTEK)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/1Q19-Longleaf-Partners-Commentary.pdf" target="_blank">Longleaf Partners Fund</a> - ($GE, $MAT, $WYNN, $CTL, $HCMLY, $CHKGF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5cbdecde53450adb9a30dde5/1555950815790/Maran+Partners+Fund+LP+2019+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5cb5d9ccf9619acd0cf39f4e/1555421645754/Massif+Capital+First+Qtr+2019+Letter+to+Investors.pdf" target="_blank">Massif Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_b0cee1afd831423facf7f964eeada115.pdf" target="_blank">Merion Road Capital</a> - ($FCPT, $SLGG)</li><li><a href="https://www.docdroid.net/ostq4If/2019-q1-midwood-q1-2019-investor-letter.pdf" target="_blank">Midwood Capital Partners</a> - ($NXST, $DRTTF, $RCM, $LMB, $REPH)</li><li><a href="https://millervalue.com/bill-miller-1q-2019-market-letter/?dtr" target="_blank">Miller Value Partners</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q1-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($HD)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0319.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://assets.pershingsquareholdings.com/2019/05/17082807/Pershing-Square-Holdings-Ltd.-Q1-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a> - ($ADP, $QSR, $LOW, $SBUX, $HLT, $UTX, $HHC, $FNMA, $FMCC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q12019-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($GRUB)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/24185410-368c-44bd-a930-4a9d92e88bf9/SIF_2019_04_20_Investor_Letter.pdf" target="_blank">Saber Capital Management</a> - ($AAPL. $FB, $TCEHY)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_28dd8002fdf344a382a093d989c5b0f5.pdf" target="_blank">Saga Partners</a> - ($TRUP)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_21e9c90b285a4116ae4312cc1bb1bdbd.pdf" target="_blank">Spree Capital</a> - ($ROKU, $FTDR, $EBAY, $ALRM, $ZAYO)</li><li><a href="https://www.docdroid.net/QBav0xn/summers-value-partners-1q19-investor-letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $CVET, $SLGD, $ELAN, $KHTRF)</li><li><a href="https://mailchi.mp/ltfunds/templeton-and-phillips-investment-commentary-1q19-india" target="_blank">Templeton and Phillips Capital Management</a> - ($FFXDF, $HDB)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5cdd1d38e79c70fa76c315b2/1557994809354/Tollymore+letter+May+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRIP, $SE)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAREX-1Q19-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($INTU.L, $NWHM, $JBGS)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TASCX-1Q19-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($AGX)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAVFX-1Q19-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCC, $TDW, $EXP, $MHK)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5cb8894071c10b5b67e05353/1555597643395/Upslope+-+2019Q1+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($ATR, $YETI, $BLD)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1557519727747" target="_blank">Weitz Investment</a><span id="goog_1812407177"></span><a href="https://www.blogger.com/"></a><span id="goog_1812407178"></span> - <a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/Analyst%20Corner_CarMax.pdf?1557519727747" target="_blank">An Introduction to CarMax, Inc.</a> - $KMX</li></ul></div><br /><br /><span style="font-size: large;">4th Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5c509321f950b7176a5db508/1548784418298/Q4+2018+Alta+Fox+Capital+Quarterly+Letter+Final.docx.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/01/Alluvial_Capital_Management_Q4_2018_Letter_to_Partners_01.24.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $MMAC, $RAMPF, $AMNF)</li><li><a href="https://www.dropbox.com/s/53g8vs2pt3cpv4o/Andvari-2018q4-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MA, $TYL)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/" target="_blank">Ariel Funds</a> - ($ATGE, $AMG, $KN)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/9d0f05b1-9864-4bfe-84ff-d97cd237714e/Arquitos_Investor_Letter_Q4_2018.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2018-partner-letter-wnLTNPM6" target="_blank">Artko Capital</a> - ($JYNT, $SMED, $AFCN, $USAT, $PRIXQ, $SPAR)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%2012.31.18_3.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_12_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($HRC, $TRS, $CLH, $SSTK, $CMP, $CTLT, $EPAY, $MEDP, $ELY, $MIK, $MG, $SRCL)</li><li><a href="https://choice-equities.com/wp-content/uploads/2019/02/2018-Q4-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $DEST, $UA, $CMG)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5c2ca3e0aa4a995f08caea24/1546429409931/FY2018.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($BAM, $PTC, $SIRI, $PYPL, $HEI)</li><li><a href="http://east72.com.au/wp-content/uploads/2019/01/E72-Quarterly-Report-Dec-2018.pdf" target="_blank">East 72 Holdings</a> - ($AER, $EXXRF, $VIRT)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2018/" target="_blank">Ensemble Fund</a> - ($SCHW, $ST)</li><li><a href="https://www.evansandpartners.com.au/sites/default/files/InternationalFundQuarterly_December2018.pdf" target="_blank">Evans and Partners International Fund</a> - ($SKFOF, $RELX, $MMM, $GOOG, $V, $ADDYY, $AON)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/fpa-capital-fund-annual-report_03-31-19_web-ready.pdf?sfvrsn=4" target="_blank">FPA Capital Fund - Annual Report</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/crescent-fund-annual-report-web-ready-(12-31-18).pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2018.pdf" target="_blank">Fundsmith Equity Funds</a> - ($PM, $FB, $SBUX, $MSFT) - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="http://www.goodwoodfunds.com/wp-content/uploads/Goodwood-Annual-Report-2018.pdf" target="_blank">Goodwood Funds</a> - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5c4bc50842bfc120277fb927/1548469513395/Greenhaven+2018+Q4+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $KKR, $YELP, $BOX)</li><li><a href="https://drive.google.com/file/d/1W8cHASX6-hodil8f2KsnZdbWwkERXCjw/view" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.01.15-Q4-2018-Letter-vFinal.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q4.pdf" target="_blank">Hayden Capital</a> - ($MPNGF, $CVNA, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS, $NWPX, $ARAY)</li><li><a href="https://static1.squarespace.com/static/59a07c7b7131a5b68981e4d5/t/5cc7c1aaf56535000156ba28/1556595115918/Lightsail+2Q+2018+Letter.pdf" target="_blank">Lightsail Capital management</a> - ($DRTTF)</li><li><a href="https://www.valuewalk.com/2019/02/mittleman-brothers-4q18-clear-media/" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/1TmrJPz9OlvLmGBSiADH7ggUOs544pllr/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/01/Nelson-Roberts-2018-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ZTS)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_1218.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/2018-year-end-investment-commentary-easy-come-easy-go/" target="_blank">RGA Investment Advisors</a> - ($ROKU, $CGNX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/Co-Investor_Letter_2018-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_ae6d4d06c60344d8b7971326501d9b65.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LGIH, $FB)</li><li><a href="https://drive.google.com/file/d/1YKnOvM33MFTIEO_rnU9ZmOBQczTSqLd0/view" target="_blank">Sebids Capital</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAREX-4Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($DLN.L, $WY, $ZION, $PNC Warrants)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TASCX-4Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CUBI, $MYRG, $ATNI)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAVFX-4Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($DWDP, $DDAIF, $ANFGF)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5c3cb0b540ec9ab9b9fd10f0/1547481270127/Tollymore+letter+December+2018.pdf" target="_blank">Tollymore Investment Partners</a> - ($UHAL, $GYM.LN, $ITEGY, $TRIP, $TRUP)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5c38b8cb4fa51a28ba9f70a0/1547221197096/Upslope+-+2018Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($EVR, $BLD, $JE.LN, $DLTR, $KWR, $YETI, $MKTX, $TSLA)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global</a></li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/4Q18_Value%20Matters.pdf?1557519727747" target="_blank">Weitz Investment</a></li><li><a href="http://wiedowercapital.com/files/Letter2018.pdf" target="_blank">Wiedower Capital</a> - ($TRUP, $JD, $ISDR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/33abc1df-abe9-49a8-aef3-cc6058c2948d/WOSF_Partner_Letter_January_22_2019.pdf" target="_blank">Willow Oak Select Fund</a> - ($BEL)</li></ul><br /><br /><div><span style="font-size: large;">3rd Quarter 2018</span></div><br /><div style="font-family: "times new roman"; margin: 0px;"><div style="font-family: "Times New Roman";"><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5bc79a54eef1a1e334de4634/1539807830450/Q3+2018+Alta+Fox+Capital+Quarterly+Letter+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($XPEL, $TPNL, $UWN)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q3-2018-Letter-to-Partners-10.29.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $OTEL, $MMAC, $CTRA, $BXC, $RAMPF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-3q-2018-partner-letter-X34TP2Oe" target="_blank">Artko Capital</a> - ($TWNKW, $RSSS)</li><li><a href="https://www.baronfunds.com/sites/default/files/Quarterly%20Report%209.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $SSTK, $MIK, $PLOW, $GNTX, $OI, $APAM, $QUOT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/11/2018-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($LAWS, $BECN, $BXC, $YELP, $DEST)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5bb318fa15fcc0a9cd511971/1538463995185/2018Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FTV, $FERGY, $CCF, $ROP, $FRC, $AMADY, $CMCSA, $SIRI, $AON)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2018/" target="_blank">Ensemble Fund</a> - ($TRUP, $BKNG)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5be1e3a60e2e72c05e5cdd4b/1541530534947/Greenhaven+Road+-+2018+Q3+Final_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $TRIP, $YELP, $EVI, $BOX)</li><li><a href="https://www.docdroid.net/MfMnIs3/greenlight-capital-q3-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.10.10-Q3-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TRIP, $TI)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q3.pdf" target="_blank">Hayden Capital</a> - ($MKL, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TLRY, $BRY, $SRCI, $AXAS, $CCS)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/3Q18-Longleaf-Partners-Funds-Shareholder-Letter.pdf" target="_blank">Longleaf Partners Fund</a> - ($CTL, $BEL, $OCINF)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0918.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/U.S.%20Small%20Company%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/q32018-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($PYPL, $WBA)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_890d215dee47497ba91e2a46ad7aa95a.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAREX-3Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($BKG.L, $JBGS, $CHKGF)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/11/TASCX-3Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $ASIX, $MYRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAVFX-3Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($TDW, $CHKGF, $BZZFF, $DB)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5bc894958165f5a62a1e5c6a/1539871893976/Upslope+-+2018Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($CWH, $TSLA, $MKTX)</li></ul></div></div><div style="font-family: "times new roman"; margin: 0px;"><br /></div><br /><span style="font-size: large;">2nd Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5b57bd2988251bd8777d5ee0/1532476738546/Q2+2018+Alta+Fox+Capital+Quarterly+Letter.docx.pdf" target="_blank">Alta Fox Capital Management</a> - (T$PNL, $XPLT)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q2-2018-Letter-to-Partners-7.20.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $SCOO, $NUVR, $MMAC)</li><li><a href="https://www.dropbox.com/s/ga6p199nuv30j9i/Andvari-2018q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($TTD, $APPN, $TCEHY, $MKTX, $GOOG)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAKE, $TISI, $TGNA)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-2q-2018-partner-letter-wARTJpDv" target="_blank">Artko Capital</a> - ($EEI, $ROSEW/ROSEU, $WFCF, $FRD)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%206.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_6_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $KN, $OI, $APAM, $CNK, $PLOW, $MIK, $CSOD, $EXLS)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/464760b7-cb8c-4974-98ae-c9ff09e5f2c8/0718_BCM_Partner_Letter_Q2_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($KT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/08/2018-Q2-CEF-Investor-Letter_WEBSITE-PDF.pdf" target="_blank">Choice Equities Fund</a> - ($CMG, $REED, $BECN)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5b38349e2b6a280422fa91ba/1530410142957/2018Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SAPIF, $TTNDY, $MKSI, $CMCSA, $PNR, $CIGI, $BAX, $SPGI)</li><li><a href="http://east72.com.au/wp-content/uploads/2018/07/E72-Quarterly-Report-June-2018.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $UCPLF, $ELFIF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2018/" target="_blank">Ensemble Fund</a> - ($LB, $PBH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q2-letter_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://gatorcapital.com/wp-content/uploads/2018/07/20180723-GFP-2018-Q2-Letter.pdf" target="_blank">Gator Capital Management</a> - ($AMP)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5b5b790daa4a9904b4e75eb0/1532721421547/Greenhaven+%282018+Q2%29_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $YELP, $CSSE)</li><li><a href="https://www.docdroid.net/xz9WkeV/greenlight-capital-q2-2018-letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.07.18-Q2-2018-Letter-v2.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TI)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS)</li><li><a href="https://www.docdroid.net/KyxH0f8/laughing-water-capital-h118.pdf" target="_blank">Laughing Water Capital</a> - ($EZPW, $FCAU, $CDMO, $CWH, $RMNI/$RMNIW)</li><li><a href="https://www.docdroid.net/PctUQHa/maran-partners-fund-lp-2018-2q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $LOV)</li><li><a href="https://drive.google.com/file/d/1n2UY-hQd8QEPzidhsQFL2lyeBngGsdPw/view" target="_blank">MPE Capital</a></li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0618.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/US-Small-Company-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/08/Q2-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($EQIX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2018/07/Co-Investor_Letter_H1_2018-EN.pdf" target="_blank">RV Capital</a> - (AddLife, PSG Group)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_6b3f18269c334631a75ac584d4276af6.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAREX-2Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FPH, $LEN)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TASCX-2Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAVFX-2Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCTPF, $KKWFF, $BCAUY, $HA</li><li><a href="http://wiedowercapital.com/files/Letter1H18.pdf" target="_blank">Wiedower Capital</a> - ($JD)</li></ul><br /><div><br /><span style="font-size: large;">1st Quarter 2018</span><br /><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q1-2018-Letter-to-Partners-4.23.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $OTEL, $LICT, $MMAC $BXC)</li><li><a href="https://www.docdroid.net/90TaM6T/arquitos-investor-letter-q1-2018.pdf" target="_blank">Arquitos Capital Management</a> - ($SYTE, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-1q-2018-partner-letter-wPZT33Kb" target="_blank">Artko Capital</a> - ($HTM, $GAIA, $HDSN, $SKY)</li><li><a href="https://doc.morningstar.com/Document/a444b3ab802f4a0c076025c4dee1cd5a.msdoc/original?clientid=globaldocuments&key=52dbc583e1012395" target="_blank">Ariel Funds</a> - ($KEYS, $MHK, $OAK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $ELY, $EPAY, $CMP, $MIK, $MG)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2249ec23-e80d-46a8-9f65-846264852383/0418__BCM_Partner_Letter_Q1_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TI, $TOO)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ada7a78575d1f52aa6e679d/1524267640733/2018Q1.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SPGI, $CME, $CMCSA, $SPB)</li><li><a href="https://www.docdroid.net/S613L8e/1q-2018-dane-investor-letter.pdf" target="_blank">Dane Capital Management</a> - ($DSKE, $IEA, $LAZY, $LMB, $YTRA, $EVI)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2018/" target="_blank">Ensemble Fund</a> - ($NFLX, $DNOW)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q1-letter_vfinal.pdf#page=2" target="_blank">FPA Capital Fund</a> - ($WDC, $TEN, $ALGT)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q1-2018-vfinal.pdf#page=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ae7bf98f950b7272142f5c2/1525137305236/Greenhaven+2018+Q1+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $BXC)</li><li><a href="https://www.docdroid.net/K95Fju3/greenlight-capital-q1-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.05.11-Q1-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $RYCEY, $VIVHY)</li><li><a href="https://www.docdroid.net/81jd56q/laughing-water-capital-q1-2018.pdf" target="_blank">Laughing Water Capital</a> - ($BXC, $OCN, $TRC, $GHL, $ITI, $GAIA)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Documents/1Q18-Longleaf-Partners-Quarterly-Summary-Report-All-Funds.pdf" target="_blank">Longleaf Partners</a></li><li><a href="https://www.docdroid.net/eFTaTcE/maran-partners-fund-lp-2018-1q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $IAC, $ATTO)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0318.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/05/Q1-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($DIS, $RAMP)</li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q18.pdf" target="_blank">RiverPark Large Growth Fund</a></li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rpfvf/commentary/RiverPark_Focused_Value_1Q18_SH_Letter.pdf" target="_blank">RiverPark Focused Value Fund</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_64caf8ca6a264972923df8b202415b9a.pdf" target="_blank">Saga Partners</a> - ($ESI, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAREX-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($AKR, $SRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TASCX-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($FRPH, $WEDXF. $SMHI)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAVFX-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BDRLF, $KKWFF, $BMWYY)</li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2018/04/VVP-Quarterly-Commentary-18.03.31.pdf" target="_blank">Vulcan Value Partners</a></li></ul></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-33146304292467263762022-05-07T08:29:00.199-04:002022-11-28T19:16:15.338-05:00Full List of Investment Letters<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">3rd Quarter 2022</span>
<hr />
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/10/STJIC-Adviser-Letter-2022-Q3.pdf">St. James Investment Company </a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_72_en.pdf">Vltava Fund</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ATD.TO " target="_blank">ATD.TO </a><a href="https://roic.ai/company/BRK-B " target="_blank">BRK-B </a><a href="https://roic.ai/company/BMW.DE " target="_blank">BMW.DE </a><a href="https://roic.ai/company/CVS " target="_blank">CVS </a><a href="https://roic.ai/company/JPM " target="_blank">JPM </a><a href="https://roic.ai/company/LMT " target="_blank">LMT </a><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/MKL " target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/633c8df908400e1e6f281e9b/1664912890141/Q32022.pdf">Comus Investments</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/2022-q3-letter/">Moon Capital</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ALLY " target="_blank">ALLY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6343a480b2dc737b6247b478/1665377408612/2022+Q3.pdf">Blue Tower Asset Management</a></td><td width="14%">10/16/2022</td><td width="39%"><a href="https://roic.ai/company/ENVA" target="_blank">ENVA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/10/QUARTERLY-REPORT-WEB-Sept-2022.pdf">East72 Holdings</a></td><td width="14%">10/17/2022</td><td width="39%"><a href="https://roic.ai/company/MSGS " target="_blank">MSGS </a><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_0c3a777e46d8414cbd20c537775e892e.pdf">Palm Valley Capital Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/KELYA " target="_blank">KELYA </a><a href="https://roic.ai/company/MAN " target="_blank">MAN </a><a href="https://roic.ai/company/SNN " target="_blank">SNN </a><a href="https://roic.ai/company/SRM " target="_blank">SRM </a><a href="https://roic.ai/company/CRDA" target="_blank">CRDA</a><a href="https://roic.ai/company/WHGLY " target="_blank">WHGLY </a><a href="https://roic.ai/company/ODC" target="_blank">ODC</a><a href="https://roic.ai/company/ODC" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/10/3Q-2022-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/10/3Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/FIVN " target="_blank">FIVN </a><a href="https://roic.ai/company/BKNG" target="_blank">BKNG</a><a href="https://roic.ai/company/INTU " target="_blank">INTU </a><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/WDAY " target="_blank">WDAY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_3Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_3bc0278b487a4c69988e2ef2f44627ca.pdf">Old West Capital Management</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/FIL.TO " target="_blank">FIL.TO </a><a href="https://roic.ai/company/FLMMF" target="_blank">FLMMF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3162">Miller/Howard Investments</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/wp-content/uploads/2022/10/Andvari-2022q3-letter-1.pdf">Andvari Associates</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/634db41b0b7dab72e4496ebd/1666036763837/GCAM+2022+Q3+letter+.pdf">Giverny Capital Asset Management</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/63480ee00d8483044cb4a8f7/1665666784591/Q3+2022+Letter.pdf">Curreen Capital</a></td><td width="14%">10/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2022.pdf">L1 Capital Long Short Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/10/L1-Capital-International-September-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-09.30.22.pdf">Baron Health Care Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/HUM " target="_blank">HUM </a><a href="https://roic.ai/company/ALNY " target="_blank">ALNY </a><a href="https://roic.ai/company/DHR " target="_blank">DHR </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/ISRG" target="_blank">ISRG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_5f53ace924b14d07a30f8e7c99be4a78.pdf">Merion Road Capital</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/SIX " target="_blank">SIX </a><a href="https://roic.ai/company/CRMT " target="_blank">CRMT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_10_18.pdf">Myrmikan Research</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/10/Akre-Focus-Fund-Quarterly-Commentary-2022-Q3.pdf#page=1">Akre Focus Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/third-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/SCHW" target="_blank">SCHW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220930.pdf">FMI All Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/AVY " target="_blank">AVY </a><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220930.pdf">FMI International Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/BME.L " target="_blank">BME.L </a><a href="https://roic.ai/company/HWDN.L" target="_blank">HWDN.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220930.pdf">FMI Large Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/AVY " target="_blank">AVY </a><a href="https://roic.ai/company/FERG" target="_blank">FERG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220930.pdf">FMI Small Cap Equity</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/SSD " target="_blank">SSD </a><a href="https://roic.ai/company/G" target="_blank">G</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/MS" target="_blank">MS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/ACGL " target="_blank">ACGL </a><a href="https://roic.ai/company/ALC" target="_blank">ALC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/MKSI " target="_blank">MKSI </a><a href="https://roic.ai/company/ROST" target="_blank">ROST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_335ac33761cb41fca0df619b92792f4e.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="14%">10/20/2022</td><td width="39%"><a href="https://roic.ai/company/EZJ.L" target="_blank">EZJ.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/CEG " target="_blank">CEG </a><a href="https://roic.ai/company/SWKS " target="_blank">SWKS </a><a href="https://roic.ai/company/AAP " target="_blank">AAP </a><a href="https://roic.ai/company/TCBI" target="_blank">TCBI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/NOV " target="_blank">NOV </a><a href="https://roic.ai/company/PDCO " target="_blank">PDCO </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/PLOW " target="_blank">PLOW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/10/Q3-2022-Letter.pdf">Distillate Capital</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-09.30.22_0.pdf">Baron Asset Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/LPLA" target="_blank">LPLA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-09.30.22.pdf">Baron Real Estate Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/PLD " target="_blank">PLD </a><a href="https://roic.ai/company/NTST " target="_blank">NTST </a><a href="https://roic.ai/company/SBAC " target="_blank">SBAC </a><a href="https://roic.ai/company/REXR " target="_blank">REXR </a><a href="https://roic.ai/company/POOL" target="_blank">POOL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-09.30.22.pdf">Baron Discovery Fund</a></td><td width="14%">10/21/2022</td><td width="39%"><a href="https://roic.ai/company/TXRH " target="_blank">TXRH </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/CDNA " target="_blank">CDNA </a><a href="https://roic.ai/company/NVTS " target="_blank">NVTS </a><a href="https://roic.ai/company/SMRT" target="_blank">SMRT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q3.pdf">Alphyn Capital Management</a></td><td width="14%">10/23/2022</td><td width="39%"><a href="https://roic.ai/company/WAND.L " target="_blank">WAND.L </a><a href="https://roic.ai/company/AHT.L " target="_blank">AHT.L </a><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/IAC" target="_blank">IAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/634e89d6a2cbef04f1622a8f/1666091479613/Upslope+-+2022Q3+Letter.pdf">Upslope Capital Management</a></td><td width="14%">10/23/2022</td><td width="39%"><a href="https://roic.ai/company/CACI " target="_blank">CACI </a><a href="https://roic.ai/company/BOMXF" target="_blank">BOMXF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tidefallcapital.com/_files/ugd/8a849d_3fae497374bf484ea2ff05fa846574c9.pdf">Tidefall Capital Management</a></td><td width="14%">10/25/2022</td><td width="39%"><a href="https://roic.ai/company/FFH.TO" target="_blank">FFH.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/10/Alluvial-Capital-Management-Q3-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="14%">10/25/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/BFCC " target="_blank">BFCC </a><a href="https://roic.ai/company/UBAB " target="_blank">UBAB </a><a href="https://roic.ai/company/CBOBA " target="_blank">CBOBA </a><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/JOB" target="_blank">JOB</a><a href="https://roic.ai/company/JOB" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rjinvestmentmanagement.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q3NP.pdf">Hoisington Investment Management</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-3Q2022.pdf.pdf">Polen - U.S. SMID Company Growth </a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/EEFT " target="_blank">EEFT </a><a href="https://roic.ai/company/BMBL" target="_blank">BMBL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-3Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/ILMN" target="_blank">ILMN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2022.pdf">Polen Capital - Global Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/OR.PA" target="_blank">OR.PA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - Global SMID Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2022.pdf">Polen Capital - International Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/KER.PA " target="_blank">KER.PA </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/EVO.ST" target="_blank">EVO.ST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=638023291350000000">Weitz Hickory Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/CHTR " target="_blank">CHTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=638023291350000000">Weitz Partners III Opportunity Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=638023291350000000">Weitz Partners Value Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=638023291350000000">Weitz Value Fund</a></td><td width="14%">10/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-09.30.22.pdf">Baron Small Cap Fund</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/CAKE " target="_blank">CAKE </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/CLVT" target="_blank">CLVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-09.30.22.pdf">Baron Opportunity Fund</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/MPWR " target="_blank">MPWR </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/NET " target="_blank">NET </a><a href="https://roic.ai/company/INDI" target="_blank">INDI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/636060c8d7eb05165dcc49f4/1667260616405/NZS+Capital+Q3+2022+Letter.pdf">NZS Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.okeefestevens.com/wp-content/uploads/2022/10/Q3-2022-Letter-1.pdf">O'Keefe Stevens</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/LAZ " target="_blank">LAZ </a><a href="https://roic.ai/company/SRG " target="_blank">SRG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-q3-2022-letter">Rowan Street Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1izeodANnozDBAGIUqaBbVZDbA3pC3it4/view">Greenlight Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/6360899201fcc54056e8475f/1667271058990/Nordstern+Capital+3Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/3q2022-commentary">Whitebrook Capital</a></td><td width="14%">11/01/2022</td><td width="39%"><a href="https://roic.ai/company/BOX" target="_blank">BOX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/2baa1d32-1047-4534-86e2-f8957c0774de.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/CHRD " target="_blank">CHRD </a><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/TCBI " target="_blank">TCBI </a><a href="https://roic.ai/company/SRC" target="_blank">SRC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llin-commentary/">Longleaf Partners International Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q22-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=3Q2022">Ave Maria Funds</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/DBRG " target="_blank">DBRG </a><a href="https://roic.ai/company/EDR.MC " target="_blank">EDR.MC </a><a href="https://roic.ai/company/AMMO" target="_blank">AMMO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/APFDX-APDDX-APHDX-QCommentary-3Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTKX-APDKX-APHKX-QCommentary-3Q22-vR.pdf">Artisan International Value Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTMX-APDMX-APHMX-QCommentary-3Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTSX-APDSX-APHSX-QCommentary-3Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/MTSI " target="_blank">MTSI </a><a href="https://roic.ai/company/IRTC " target="_blank">IRTC </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTLX-APDLX-APHLX-QCommentary-3Q22-vR.pdf">Artisan Value Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/3q/ARTTX-APDTX-APHTX-QCommentary-3Q22-vR.pdf">Artisan Focus Fund</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2022/10/RGAIA-Q322-INVESTMENT-COMMENTARY.pdf">RGA Investment Advisors</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/BMY " target="_blank">BMY </a><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/MXCT " target="_blank">MXCT </a><a href="https://roic.ai/company/REGN" target="_blank">REGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/6345b2150a72d45aebb4ca7b/1665511958488/3Q22+letter+FINAL.pdf">Long Cast Advisers </a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_38844241568340438328f3a4b83aa589.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/LDOS " target="_blank">LDOS </a><a href="https://roic.ai/company/TTC" target="_blank">TTC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q3.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="14%">11/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/5h5ztiwrudtejz4/2022_CTG_InvestorLetter_II.pdf?dl=0">Canterbury Tollgate</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/11/2022Q3-Commentary.pdf">Palm Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2022/10/CSCAX_2022-09-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/ECVT " target="_blank">ECVT </a><a href="https://roic.ai/company/GBLI " target="_blank">GBLI </a><a href="https://roic.ai/company/WSTG " target="_blank">WSTG </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/VSAT " target="_blank">VSAT </a><a href="https://roic.ai/company/CARG" target="_blank">CARG</a><a href="https://roic.ai/company/CARG" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/rising-uncertainty-greater-value-potential/">Miller Deep Value</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/TPC " target="_blank">TPC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/pop-goes-the-safety-bubble/">Miller Income Strategy</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/ARLP " target="_blank">ARLP </a><a href="https://roic.ai/company/CHK " target="_blank">CHK </a><a href="https://roic.ai/company/BKE " target="_blank">BKE </a><a href="https://roic.ai/company/OGN " target="_blank">OGN </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/VTRS" target="_blank">VTRS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/miller-opportunity-equity-3q2022-commentary/">Miller Opportunity Trust</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/10/HCM-Q3-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/UFPT" target="_blank">UFPT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/3Q22%20-%20FV.html">Bireme Capital</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/11/Epoch-Quarterly-Newsletter_November-2022.pdf">Epoch Investment Partners</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/abb1a0_d96d3b63ef9249a4a1778f8368c0d997.pdf">Arch Capital Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/ADSK" target="_blank">ADSK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2022/11/VVP-Quarterly-Letter-22.09.30.pdf">Vulcan Value Partners</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-Q322.pdf">Horos Funds</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2022/10/2022-Q3-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/WCC " target="_blank">WCC </a><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/OEC " target="_blank">OEC </a><a href="https://roic.ai/company/FARM" target="_blank">FARM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2022/">Oakmark Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/FBHS " target="_blank">FBHS </a><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2022/">Oakmark Global Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-third-quarter-2022/">Oakmark Global Select Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-third-quarter-2022/">Oakmark International Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-third-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2022/">Oakmark Select Fund</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/KKR" target="_blank">KKR</a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/WFC" target="_blank">WFC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q3-2022-Review-1.pdf">Horizon Kinetics</a></td><td width="14%">11/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-09.30.22.pdf">Baron FinTech Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/FDS " target="_blank">FDS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-09.30.22.pdf">Baron Growth Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Fifth-Avenue-Growth-Fund-Quarterly-Letter-09.30.22.pdf">Baron Fifth Avenue Growth Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/TEAM " target="_blank">TEAM </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-09.30.22.pdf">Blue Hawk Investment Group </a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202209/Commentary-Small-Cap-Fund-2022-09-30.pdf?c=638041193440000000">Diamond Hill Small Cap Fund</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_88fbbb3c8834487e9613e5d9b99bcdb2.pdf">Greystone Capital Management</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/POL " target="_blank">POL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/bc1677a8-bc5f-f676-765a-c17cf163274d/Third_Quarter_2022_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://secure.alpsinc.com/MarketingAPI/api/v1/Content/rondureglobal/rondureglobal-comm-20220930.pdf">Rondure Global</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/63828b47a89b9902cff228f3/1669499719982/Greenhaven+Road+-+2022+Q3+final.pdf">Greenhaven Road Capital</a></td><td width="14%">11/26/2022</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/HGTY " target="_blank">HGTY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://lvsadvisory.com/wp-content/uploads/2022/11/LVS-Advisory-Letter-Q3-2022.pdf">LVS Advisory</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1YX1wN-8uUGmgpr-7WONZxhWgmdHNE4xD/view">Andaz Private Investments</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/CEG " target="_blank">CEG </a><a href="https://roic.ai/company/PCTY " target="_blank">PCTY </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/AVTR " target="_blank">AVTR </a><a href="https://roic.ai/company/MRCY " target="_blank">MRCY </a><a href="https://roic.ai/company/SGEN" target="_blank">SGEN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/RBC " target="_blank">RBC </a><a href="https://roic.ai/company/SWAV " target="_blank">SWAV </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/MRCY " target="_blank">MRCY </a><a href="https://roic.ai/company/HSKA " target="_blank">HSKA </a><a href="https://roic.ai/company/QDEL" target="_blank">QDEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/AMRC " target="_blank">AMRC </a><a href="https://roic.ai/company/SPSC " target="_blank">SPSC </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/DRQ " target="_blank">DRQ </a><a href="https://roic.ai/company/DH" target="_blank">DH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6351f52d0605461c7ccb2368/1666315566155/Q3+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/CZBS " target="_blank">CZBS </a><a href="https://roic.ai/company/MFBP " target="_blank">MFBP </a><a href="https://roic.ai/company/BFCC " target="_blank">BFCC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/11/DKAM-ROE-Reporter-November-2022-Final-1.pdf">Donville Kent Asset Management</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/">Ariel Trust Funds</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/GNRC " target="_blank">GNRC </a><a href="https://roic.ai/company/SJM " target="_blank">SJM </a><a href="https://roic.ai/company/AD.AS " target="_blank">AD.AS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://dmzpartners.in/Documents/Files/DMZ-1953-DMZ-Partners-Semi-Annual-FY-22-23-(Redacted).pdf">DMZ Partners</a></td><td width="14%">11/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">2nd Quarter 2022</span>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="https://andvariassociates.com/q2-2022-letter">Andvari Associates</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE" target="_blank">ADBE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/62c34100d8a0b71baa04f0d6/1656963328450/Q22022.pdf">Comus Investments</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/07/STJIC-Adviser-Letter-2022-Q2.pdf">St. James Investment Company </a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_71_en.pdf">Vltava Fund</a></td><td width="13%">7/09/2022</td><td width="39%"><a href="https://roic.ai/company/CVE" target="_blank">CVE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_9ed0664cbf44487498dabef6136c34a9.pdf">Palm Valley Capital Fund</a></td><td width="13%">7/11/2022</td><td width="39%"><a href="https://roic.ai/company/CRI " target="_blank">CRI </a><a href="https://roic.ai/company/ORI " target="_blank">ORI </a><a href="https://roic.ai/company/HOFT " target="_blank">HOFT </a><a href="https://roic.ai/company/LSDAF " target="_blank">LSDAF </a><a href="https://roic.ai/company/NATH" target="_blank">NATH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/q2-2022-letter/">Moon Capital</a></td><td width="13%">7/11/2022</td><td width="39%"><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/07/QUARTERLY-REPORT-WEB-June-2022.pdf">East72 Holdings</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/UHAL" target="_blank">UHAL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220630.pdf">FMI All Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220630.pdf">FMI International Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220630.pdf">FMI Large Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220630.pdf">FMI Small Cap Equity</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/07/Akre-Focus-Fund-Quarterly-Commentary-2022-Q2.pdf#page=1">Akre Focus Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LNSTY" target="_blank">LNSTY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-june-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/LNSTY" target="_blank">LNSTY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_1873be9d3ce44fc3b5c369e601b24bf2.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/POOL " target="_blank">POOL </a><a href="https://roic.ai/company/SBUX " target="_blank">SBUX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DiversifiedIncome.pdf?ctgv=626.0">Madison Dividend Income Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=626.0">Madison Investors Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=626.0">Madison Mid Cap Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/FWONA " target="_blank">FWONA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=626.0">Madison Small Cap Fund</a></td><td width="13%">7/15/2022</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/MODN" target="_blank">MODN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.okeefestevens.com/the-value-connection-q3-2022/">O'Keefe Stevens</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_c3d41bb31a4e4fceaeda7fd688900816.pdf">Merion Road Capital</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/WHG" target="_blank">WHG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/07/2Q-2022-Shareholder-Letter-Smead-International-Value-Fund.pdf">Smead International Value Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/07/2Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2022.pdf">L1 Capital Long Short Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/CVE " target="_blank">CVE </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/BLSFF " target="_blank">BLSFF </a><a href="https://roic.ai/company/CSCCF " target="_blank">CSCCF </a><a href="https://roic.ai/company/MALRF " target="_blank">MALRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/07/L1-Capital-International-June-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/BKNG " target="_blank">BKNG </a><a href="https://roic.ai/company/EXP " target="_blank">EXP </a><a href="https://roic.ai/company/LPX " target="_blank">LPX </a><a href="https://roic.ai/company/GPK " target="_blank">GPK </a><a href="https://roic.ai/company/IQV" target="_blank">IQV</a><a href="https://roic.ai/company/IQV" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/62cbc62477b6d55880a73619/1657521700839/2022+Q2.pdf">Blue Tower Asset Management</a></td><td width="13%">7/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/UBER " target="_blank">UBER </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/TWLO " target="_blank">TWLO </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/NKE " target="_blank">NKE </a><a href="https://roic.ai/company/ADYEY " target="_blank">ADYEY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_2Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/62cdd2395fa0eb484016f5ee/1657655865394/NZS+Capital+Q2+2022+Letter.pdf">NZS Capital</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/62d2310dc4c1847abbeb2e81/1657942290214/Worm+Capital+-+Q2+2022+Investor+Letter+-+Final.pdf">Worm Capital</a></td><td width="13%">7/17/2022</td><td width="39%"><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_3d822183168e4209b8a3667996b689ba.pdf">Old West Capital Management</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/LMT" target="_blank">LMT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/07/Q2-2022-letter.pdf">Distillate Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/COLD " target="_blank">COLD </a><a href="https://roic.ai/company/FIBK " target="_blank">FIBK </a><a href="https://roic.ai/company/SNA " target="_blank">SNA </a><a href="https://roic.ai/company/G " target="_blank">G </a><a href="https://roic.ai/company/THO " target="_blank">THO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/CSV " target="_blank">CSV </a><a href="https://roic.ai/company/STKL " target="_blank">STKL </a><a href="https://roic.ai/company/DINO " target="_blank">DINO </a><a href="https://roic.ai/company/NWPX " target="_blank">NWPX </a><a href="https://roic.ai/company/CECE " target="_blank">CECE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/POWL " target="_blank">POWL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/62d84967f06fb35bcb155c28/1658341735984/Q2+2022+Letter.pdf">Curreen Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q2.pdf">Alphyn Capital Management</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/BUR " target="_blank">BUR </a><a href="https://roic.ai/company/CRSS " target="_blank">CRSS </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/W " target="_blank">W </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3141">Miller/Howard Investments</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/62d79087a80fcc2f5c2d10b3/1658294408196/Nordstern+Capital+2Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/ARCH " target="_blank">ARCH </a><a href="https://roic.ai/company/ERJ " target="_blank">ERJ </a><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/EVVTY " target="_blank">EVVTY </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-06.30.22.pdf">Baron Health Care Fund</a></td><td width="13%">7/20/2022</td><td width="39%"><a href="https://roic.ai/company/BMY " target="_blank">BMY </a><a href="https://roic.ai/company/VRTX " target="_blank">VRTX </a><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/INGEF " target="_blank">INGEF </a><a href="https://roic.ai/company/VESTF " target="_blank">VESTF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/DHI " target="_blank">DHI </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/SUPN " target="_blank">SUPN </a><a href="https://roic.ai/company/CCF " target="_blank">CCF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/THYCF " target="_blank">THYCF </a><a href="https://roic.ai/company/AJMPF " target="_blank">AJMPF </a><a href="https://roic.ai/company/SCPPF" target="_blank">SCPPF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/2q2022-commentary">Whitebrook Capital</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/ITRI " target="_blank">ITRI </a><a href="https://roic.ai/company/AFYA " target="_blank">AFYA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-1h-2022-letter">Rowan Street Capital</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/PTON " target="_blank">PTON </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-06.30.22.pdf">Baron Discovery Fund</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/GWRE " target="_blank">GWRE </a><a href="https://roic.ai/company/ASGN " target="_blank">ASGN </a><a href="https://roic.ai/company/CDAY " target="_blank">CDAY </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/ESTA " target="_blank">ESTA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-06.30.22.pdf">Baron Real Estate Fund</a></td><td width="13%">7/21/2022</td><td width="39%"><a href="https://roic.ai/company/AVB " target="_blank">AVB </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/FBHS " target="_blank">FBHS </a><a href="https://roic.ai/company/DLR " target="_blank">DLR </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/second-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/NOW " target="_blank">NOW </a><a href="https://roic.ai/company/MASI " target="_blank">MASI </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVR " target="_blank">NVR </a><a href="https://roic.ai/company/FAF " target="_blank">FAF </a><a href="https://roic.ai/company/HD" target="_blank">HD</a><a href="https://roic.ai/company/HD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://files.constantcontact.com/e71b08bb301/94923153-a150-4b32-838d-a5f30725880d.pdf?rdr=true">Bernzott Capital Advisors</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/CADE " target="_blank">CADE </a><a href="https://roic.ai/company/HHC " target="_blank">HHC </a><a href="https://roic.ai/company/TRNO" target="_blank">TRNO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/62d7ddf71cba2f101dd6f698/1658314232755/Upslope+-+2022Q2+Letter.pdf">Upslope Capital Management</a></td><td width="13%">7/22/2022</td><td width="39%"><a href="https://roic.ai/company/BALL " target="_blank">BALL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q2NP.pdf">Hoisington Investment Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q2-2022-Review_FINAL_2.pdf">Horizon Kinetics</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/WPM " target="_blank">WPM </a><a href="https://roic.ai/company/ATUSF " target="_blank">ATUSF </a><a href="https://roic.ai/company/ATRWF " target="_blank">ATRWF </a><a href="https://roic.ai/company/CME " target="_blank">CME </a><a href="https://roic.ai/company/PREKF" target="_blank">PREKF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2022/">Oakmark Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/DIS " target="_blank">DIS </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/MAS " target="_blank">MAS </a><a href="https://roic.ai/company/ORCL " target="_blank">ORCL </a><a href="https://roic.ai/company/PH" target="_blank">PH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2022/">Oakmark Global Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-quarter-2022/">Oakmark Global Select Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/AMZN" target="_blank">AMZN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-quarter-2022/">Oakmark International Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/CS " target="_blank">CS </a><a href="https://roic.ai/company/PPRUY" target="_blank">PPRUY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-second-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/ELEEF " target="_blank">ELEEF </a><a href="https://roic.ai/company/ATEAY " target="_blank">ATEAY </a><a href="https://roic.ai/company/FLUIF " target="_blank">FLUIF </a><a href="https://roic.ai/company/NEXXY " target="_blank">NEXXY </a><a href="https://roic.ai/company/XPG.F" target="_blank">XPG.F</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2022/">Oakmark Select Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/07/Alluvial-Capital-Management-Q2-2022-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/GTXAP " target="_blank">GTXAP </a><a href="https://roic.ai/company/TIMB " target="_blank">TIMB </a><a href="https://roic.ai/company/BSND " target="_blank">BSND </a><a href="https://roic.ai/company/CUSI" target="_blank">CUSI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/62cf0ec135184b57392bd28a/1657736897912/GCAM+Q2+2022+letter_.pdf">Giverny Capital Asset Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/ASHTF " target="_blank">ASHTF </a><a href="https://roic.ai/company/ADI " target="_blank">ADI </a><a href="https://roic.ai/company/FND" target="_blank">FND</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202206/Commentary-Small-Cap-Fund-2022-06-30.pdf?c=637941173470000000">Diamond Hill Small Cap Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/FA " target="_blank">FA </a><a href="https://roic.ai/company/ECOM " target="_blank">ECOM </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/ESAB " target="_blank">ESAB </a><a href="https://roic.ai/company/ENOV" target="_blank">ENOV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/values-opportunity-in-uncertain-times/">Pzena Investment Management</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_07_13.pdf">Myrmikan Research</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/EVH " target="_blank">EVH </a><a href="https://roic.ai/company/CYRX " target="_blank">CYRX </a><a href="https://roic.ai/company/GO " target="_blank">GO </a><a href="https://roic.ai/company/HRI " target="_blank">HRI </a><a href="https://roic.ai/company/ATRC " target="_blank">ATRC </a><a href="https://roic.ai/company/INSP" target="_blank">INSP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/APPL " target="_blank">APPL </a><a href="https://roic.ai/company/MSFT" target="_blank">MSFT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/low-valuation-securities-remain-attractive/">Miller Deep Value</a></td><td width="13%">7/23/2022</td><td width="39%"><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/AXL " target="_blank">AXL </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/FTI " target="_blank">FTI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WMB " target="_blank">WMB </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/GE" target="_blank">GE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2qllgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/WBD " target="_blank">WBD </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2q-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WHGLY " target="_blank">WHGLY </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/DPZ " target="_blank">DPZ </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/EXXRF" target="_blank">EXXRF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/2qllsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/OSCR " target="_blank">OSCR </a><a href="https://roic.ai/company/VMEO " target="_blank">VMEO </a><a href="https://roic.ai/company/HOUS " target="_blank">HOUS </a><a href="https://roic.ai/company/ESRT " target="_blank">ESRT </a><a href="https://roic.ai/company/WEST" target="_blank">WEST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://covestreetfunds.com/wp-content/uploads/2022/07/CSCAX_2022-06-30_Shareholder_Letter.pdf">Cove Street Capital</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/HNRG " target="_blank">HNRG </a><a href="https://roic.ai/company/WTM " target="_blank">WTM </a><a href="https://roic.ai/company/VSAT " target="_blank">VSAT </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/LGF.B " target="_blank">LGF.B </a><a href="https://roic.ai/company/INFU " target="_blank">INFU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.avemariafunds.com/pdfs/fund-commentaries/AMMF%20Commentary%20Combo.pdf?v=4Q2021">Ave Maria Funds</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/APG " target="_blank">APG </a><a href="https://roic.ai/company/BAMR " target="_blank">BAMR </a><a href="https://roic.ai/company/GPRE " target="_blank">GPRE </a><a href="https://roic.ai/company/CHK " target="_blank">CHK </a><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/MIR " target="_blank">MIR </a><a href="https://roic.ai/company/STNE" target="_blank">STNE</a><a href="https://roic.ai/company/STNE" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mawer.com/tools-and-resources/mawer-quarterly/second-quarter-2022/">Mawer Mutual Funds</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ip-capitalpartners.com/reports/turbulencia-disciplina-e-oportunidades/">IP-Capital Partners</a></td><td width="13%">7/24/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/CHTR " target="_blank">CHTR </a><a href="https://roic.ai/company/SCHW " target="_blank">SCHW </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637941317810000000">Weitz Hickory Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637941317810000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637941317810000000">Weitz Partners Value Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637941317810000000">Weitz Value Fund</a></td><td width="13%">7/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202206.pdf">Bronte Capital</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/META" target="_blank">META</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/62e2e2f20516c810ef10968d/1659036402933/Q2%2722+letter.pdf">1 Main Capital Partners</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/KKR" target="_blank">KKR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_3fd6189e2a71450f962f24f91188aa47.pdf">Emeth Value Capital</a></td><td width="13%">7/31/2022</td><td width="39%"><a href="https://roic.ai/company/DECPF" target="_blank">DECPF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SLTWWF_Letter_2Q_2022.pdf">Saltlight Capital </a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/BAM " target="_blank">BAM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/Q2%202022%20Investor%20Letter.pdf">Praetorian Capital </a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/_files/ugd/47fd79_6b3d9dfea2cc42fb9f2318b7c81a7061.pdf">Greystone Capital Management</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/IDT " target="_blank">IDT </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/ec64f82f-10b4-eda5-697d-61f8bc7c5f50/Second_Quarter_2022_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5a57e9fd53450ad1027d1e2f/1515710973971/Maran+Partners+Fund+LP+Founders+Letter_Web.pdf">Maran Capital Management</a></td><td width="13%">8/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-2Q2022.pdf">Polen - U.S. SMID Company Growth </a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-2Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/ADBE " target="_blank">ADBE </a><a href="https://roic.ai/company/ABNB " target="_blank">ABNB </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2022.pdf">Polen Capital - Global Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2022.pdf">Polen Capital - International Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1659734271304">Miller Income Strategy</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/HRB " target="_blank">HRB </a><a href="https://roic.ai/company/ARLP " target="_blank">ARLP </a><a href="https://roic.ai/company/HMPT " target="_blank">HMPT </a><a href="https://roic.ai/company/JXN" target="_blank">JXN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1659734087106">Miller Opportunity Trust</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/EXPE " target="_blank">EXPE </a><a href="https://roic.ai/company/UAL " target="_blank">UAL </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/KRTX " target="_blank">KRTX </a><a href="https://roic.ai/company/NCLH " target="_blank">NCLH </a><a href="https://roic.ai/company/COIN " target="_blank">COIN </a><a href="https://roic.ai/company/BHC" target="_blank">BHC</a><a href="https://roic.ai/company/BHC" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/2Q22%20-%20FV.html">Bireme Capital</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/HCA " target="_blank">HCA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/08/Epoch-Quarterly-Newsletter_July-2022.pdf">Epoch Investment Partners</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/62e2cb493d43c21e9376276e/1659030345791/Q2+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/HRBR " target="_blank">HRBR </a><a href="https://roic.ai/company/WCRS " target="_blank">WCRS </a><a href="https://roic.ai/company/ROYTL " target="_blank">ROYTL </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/07/HCM-Q2-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/QLYS " target="_blank">QLYS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20220630.pdf">Rondure Global</a></td><td width="13%">8/05/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1FS2qH8wCrX1GJzXVnCNKruC88PSVEAeM/view">Tidefall Capital Management</a></td><td width="13%">8/06/2022</td><td width="39%"><a href="https://roic.ai/company/ONEXF" target="_blank">ONEXF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_263985b67ed3417898a45ca656079240.pdf">Arch Capital Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/IAC" target="_blank">IAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1q4vlkXfomG1UDoGDBOdqVQza0UfOwLFB/view">Andaz Private Investments</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://vulcanvaluepartners.com/core/uploads/2022/08/VVP-Quarterly-Letter-22.06.30.pdf">Vulcan Value Partners</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/GE " target="_blank">GE </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/SNBR " target="_blank">SNBR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/62ea7798a152c62213de90d3/1659533208350/2022+Q2_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/EXTR" target="_blank">EXTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2022-q2.pdf?sfvrsn=178909d_4">FPA Crescent Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-value-fund/literature/fpa-qr-value-fund-commentary-2022-q2.pdf?sfvrsn=127d909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-06.pdf?sfvrsn=9d78909d_4">FPA U.S. Core Equity Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/62d556904064b731387d7ff0/1658148496935/Laughing+Water+Capital+1H%2722.pdf">Laughing Water Capital</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/AIMFF " target="_blank">AIMFF </a><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/LNDC " target="_blank">LNDC </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/FREE " target="_blank">FREE </a><a href="https://roic.ai/company/TACT" target="_blank">TACT</a><a href="https://roic.ai/company/TACT" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/commentary/q2-2022/">RGA Investment Advisors</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/CTKB " target="_blank">CTKB </a><a href="https://roic.ai/company/MXCT" target="_blank">MXCT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q22.pdf">Horos Funds</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2022/07/2022-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="13%">8/08/2022</td><td width="39%"><a href="https://roic.ai/company/CROX " target="_blank">CROX </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/FARM " target="_blank">FARM </a><a href="https://roic.ai/company/OEC " target="_blank">OEC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-06.30.22.pdf">Baron Asset Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/ICLR " target="_blank">ICLR </a><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-06.30.22.pdf">Baron FinTech Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/PGR" target="_blank">PGR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-06.30.22.pdf">Baron Growth Fund</a></td><td width="13%">8/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/2Q22-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_58936293e76f4b18a81f15c112767f12.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/FRC " target="_blank">FRC </a><a href="https://roic.ai/company/POOL " target="_blank">POOL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q2.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2022/HL-EM-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner Global Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/SIVB " target="_blank">SIVB </a><a href="https://roic.ai/company/ADYEY" target="_blank">ADYEY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Companies-Quarterly-Report-2Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-2Q22.pdf">Harding Loevner International Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-International-Small-Companies-Quarterly-Report-2Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/62eb088133bf8171c47f3445/1659570306154/2022.Q2+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/EVBG " target="_blank">EVBG </a><a href="https://roic.ai/company/XPEL " target="_blank">XPEL </a><a href="https://roic.ai/company/NGMS" target="_blank">NGMS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=9707b2a5f8">Argosy Investors</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/DFH " target="_blank">DFH </a><a href="https://roic.ai/company/AMOT " target="_blank">AMOT </a><a href="https://roic.ai/company/CURV " target="_blank">CURV </a><a href="https://roic.ai/company/FTV " target="_blank">FTV </a><a href="https://roic.ai/company/VNT " target="_blank">VNT </a><a href="https://roic.ai/company/WBD" target="_blank">WBD</a><a href="https://roic.ai/company/WBD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-06.30.22.pdf">Baron Partners Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-06.30.22.pdf">Baron Small Cap Fund</a></td><td width="13%">8/15/2022</td><td width="39%"><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/SPT" target="_blank">SPT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/posts/artko-capital-2q-2022-partner-letter-wQrTlD7W">Artko Capital</a></td><td width="13%">8/16/2022</td><td width="39%"><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/PBPB " target="_blank">PBPB </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/HQI" target="_blank">HQI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/62e1b3a1a3675577a5c65806/1658958753933/2Q22+letter+final.pdf">Long Cast Advisers </a></td><td width="13%">8/16/2022</td><td width="39%"><a href="https://roic.ai/company/CCRN " target="_blank">CCRN </a><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/QRHC " target="_blank">QRHC </a><a href="https://roic.ai/company/DAIO " target="_blank">DAIO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/07/2022Q2-Commentary.pdf">Palm Capital</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/62f449c44ff2ac1a47ebbec8/1660176836873/Bonsai+Partners+Fund+Q2+2022+Investor+Letter+Final+For+Distribution.pdf">Bonsai Partners</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/RDBBF " target="_blank">RDBBF </a><a href="https://roic.ai/company/XPEL" target="_blank">XPEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/insider-buying-and-buybacks-at-hqi?utm_source=substack&utm_medium=email">Mindset Value Fund</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/MRMD " target="_blank">MRMD </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/NNI " target="_blank">NNI </a><a href="https://roic.ai/company/CNRFF" target="_blank">CNRFF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rvcapital.ch/post/first-half-2022-letter-to-co-investors-in-business-owner?utm_campaign=6b0317a6-2ab9-4e29-9937-076fe1218d6b&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="13%">8/17/2022</td><td width="39%"><a href="https://roic.ai/company/CACC " target="_blank">CACC </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/META " target="_blank">META </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/CVNA" target="_blank">CVNA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.gwinvestors.com/wp-content/uploads/2022.08.24-Q2-Letter-v3.pdf">GreenWood Investors</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/CTTPY " target="_blank">CTTPY </a><a href="https://roic.ai/company/KOD " target="_blank">KOD </a><a href="https://roic.ai/company/MEIP " target="_blank">MEIP </a><a href="https://roic.ai/company/LTRPA " target="_blank">LTRPA </a><a href="https://roic.ai/company/RH" target="_blank">RH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.riveroakcapital.se/docs/2022H1-ShareholderLetter-inclSinchComment-RiverOakCapitalAB.pdf">River Oak Capital</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/QTGPF " target="_blank">QTGPF </a><a href="https://roic.ai/company/SINCH.ST " target="_blank">SINCH.ST </a><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/APFDX-APDDX-APHDX-QCommentary-2Q22-vR.pdf">Artisan Global Discovery Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/MAREL.AS " target="_blank">MAREL.AS </a><a href="https://roic.ai/company/VEEV " target="_blank">VEEV </a><a href="https://roic.ai/company/ON" target="_blank">ON</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTKX-APDKX-APHKX-QCommentary-2Q22-vR.pdf">Artisan International Value Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTMX-APDMX-APHMX-QCommentary-2Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/VEEV " target="_blank">VEEV </a><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/RYAN " target="_blank">RYAN </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTSX-APDSX-APHSX-QCommentary-2Q22-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/NVST " target="_blank">NVST </a><a href="https://roic.ai/company/ETSY " target="_blank">ETSY </a><a href="https://roic.ai/company/JBT " target="_blank">JBT </a><a href="https://roic.ai/company/RGEN " target="_blank">RGEN </a><a href="https://roic.ai/company/SPT " target="_blank">SPT </a><a href="https://roic.ai/company/DV" target="_blank">DV</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/2q/ARTLX-APDLX-APHLX-QCommentary-2Q22-vR.pdf">Artisan Value Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/BAC " target="_blank">BAC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://goodhavenfunds.com/media/GOODX%202022%20Semi-Annual%20Report.pdf">GoodHaven Fund</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ad6aa59-a7ab-2ada-d10c-d6a911285822/Steel_City_Capital_2Q_22_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="13%">8/29/2022</td><td width="39%"><a href="https://roic.ai/company/TRUP " target="_blank">TRUP </a><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/SCI " target="_blank">SCI </a><a href="https://roic.ai/company/ETRN " target="_blank">ETRN </a><a href="https://roic.ai/company/UNTC " target="_blank">UNTC </a><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/630ae597b0970b461c0bb3a1/1661658519729/Greenhaven+Road+%282022+Q2%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">8/31/2022</td><td width="39%"><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">1st Quarter 2022</span>
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
</thead>
<tbody>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/04/STJIC-Adviser-Letter-2022-Q1.pdf">St. James Investment Company </a></td><td width="13%">4/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/04/QUARTERLY-REPORT-March-2022-Public.pdf">East72 Holdings</a></td><td width="13%">4/07/2022</td><td width="39%"><a href="https://roic.ai/company/VWAGY" target="_blank">VWAGY </a><a href="https://roic.ai/company/AU1.AX" target="_blank">AU1.AX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/dopisy-akcionarum/war">Vltava Fund</a></td><td width="13%">4/08/2022</td><td width="39%"><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/CE " target="_blank">CE </a><a href="https://roic.ai/company/KLAC" target="_blank">KLAC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/624a258b6c76b76db54c3f1f/1649026443456/Q12022.pdf">Comus Investments</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmvalleycapital.com/_files/ugd/ef2f99_a39d94d07f5a4ff8a1deec3550b06e6c.pdf">Palm Valley Capital Fund</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/HTLD " target="_blank">HTLD </a><a href="https://roic.ai/company/PLPC " target="_blank">PLPC </a><a href="https://roic.ai/company/MLR " target="_blank">MLR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mooncap.com/q1-2022-letter/">Moon Capital</a></td><td width="13%">4/10/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/MLNK " target="_blank">MLNK </a><a href="https://roic.ai/company/LGIH " target="_blank">LGIH </a><a href="https://roic.ai/company/GRBK" target="_blank">GRBK</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/6151d62c-8cdf-d92d-0813-b9836d243d33/March_2022_Investor_Letter_What_if_a_Recession_is_the_Curevfin.pdf">Richie Capital Group</a></td><td width="13%">4/11/2022</td><td width="39%"><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/NXST " target="_blank">NXST </a><a href="https://roic.ai/company/SEDG " target="_blank">SEDG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_3ab5b8a4581b46ff8e8add6ab6705cc9.pdf">Merion Road Capital</a></td><td width="13%">4/11/2022</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/PTON " target="_blank">PTON </a><a href="https://roic.ai/company/SPWH" target="_blank">SPWH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/e1858d66-b8a2-4b96-71df-a603ceb99dc3/First_Quarter_2022_Letter_to_Leaven_Partners.01.pdf">Leaven Partners</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2022/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CTAS " target="_blank">CTAS </a><a href="https://roic.ai/company/SMCYY " target="_blank">SMCYY </a><a href="https://roic.ai/company/HOCPY " target="_blank">HOCPY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2022/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CTAS " target="_blank">CTAS </a><a href="https://roic.ai/company/SMCYY " target="_blank">SMCYY </a><a href="https://roic.ai/company/HOCPY " target="_blank">HOCPY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_9aeda574e86d4f54b0b574ce3caa252a.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/625756132bad9d6fb7b93d3a/1649890835942/Q1+2022+-+Investor+Letter+-+4-12.pdf">Worm Capital</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/TSLA " target="_blank">TSLA </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2022/iso_ac_20220331.pdf">FMI All Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CSL " target="_blank">CSL </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2022/iso_in_20220331.pdf">FMI International Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/SDXAY " target="_blank">SDXAY </a><a href="https://roic.ai/company/GRG.L" target="_blank">GRG.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2022/iso_lc_20220331.pdf">FMI Large Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/CSL " target="_blank">CSL </a><a href="https://roic.ai/company/KMX" target="_blank">KMX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2022/iso_sc_20220331.pdf">FMI Small Cap Equity</a></td><td width="13%">4/15/2022</td><td width="39%"><a href="https://roic.ai/company/SKX " target="_blank">SKX </a><a href="https://roic.ai/company/NVT " target="_blank">NVT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/EOG " target="_blank">EOG </a><a href="https://roic.ai/company/ADM " target="_blank">ADM </a><a href="https://roic.ai/company/NUE" target="_blank">NUE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/THO" target="_blank">THO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/NXST " target="_blank">NXST </a><a href="https://roic.ai/company/ABC " target="_blank">ABC </a><a href="https://roic.ai/company/PPG " target="_blank">PPG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/RDN " target="_blank">RDN </a><a href="https://roic.ai/company/CCS " target="_blank">CCS </a><a href="https://roic.ai/company/COLD " target="_blank">COLD </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-1Q22-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6253f41981bad02de3f2175a/1649669145713/2022+Q1.pdf">Blue Tower Asset Management</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/04/1Q-2022-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">4/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=2249">Miller/Howard Investments</a></td><td width="13%">4/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/04/Q1-2022-letter.pdf">Distillate Capital</a></td><td width="13%">4/17/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Core-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Micro-Cap-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/KRNT " target="_blank">KRNT </a><a href="https://roic.ai/company/PRPL " target="_blank">PRPL </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/HLLY " target="_blank">HLLY </a><a href="https://roic.ai/company/SLP" target="_blank">SLP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Value-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/KRNT " target="_blank">KRNT </a><a href="https://roic.ai/company/MEDP " target="_blank">MEDP </a><a href="https://roic.ai/company/GDYN " target="_blank">GDYN </a><a href="https://roic.ai/company/HQY " target="_blank">HQY </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/EEFT " target="_blank">EEFT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Small-Cap-Value-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2022/03/Ultra-Growth-Fund-Commentary-2022.03.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2022/04/2022-03-March-Investor-Update.pdf">LRT Capital</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/PSA " target="_blank">PSA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2022.pdf">L1 Capital Long Short Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/04/L1-Capital-International-March-2022-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2022/">Oakmark Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/EFX " target="_blank">EFX </a><a href="https://roic.ai/company/GPN " target="_blank">GPN </a><a href="https://roic.ai/company/PINS " target="_blank">PINS </a><a href="https://roic.ai/company/PHM " target="_blank">PHM </a><a href="https://roic.ai/company/CRM " target="_blank">CRM </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2022/">Oakmark Global Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/BAYRY " target="_blank">BAYRY </a><a href="https://roic.ai/company/GLNCY " target="_blank">GLNCY </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a><a href="https://roic.ai/company/GM " target="_blank">GM </a><a href="https://roic.ai/company/CS" target="_blank">CS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-quarter-2022/">Oakmark Global Select Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-first-quarter-2022/">Oakmark International Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2022/">Oakmark Select Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-first-quarter-2022/">Oakmark International Small Cap Fund</a></td><td width="13%">4/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_2b058680f1c7435ea64a4f5bcfea20bb.pdf">Old West Capital Management</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/BG" target="_blank">BG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/625ac340cf3dfa42945771c0/1650115393148/Laughing+Water+Capital+Q1%2722.pdf">Laughing Water Capital</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/TACT " target="_blank">TACT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/04/HCM-Q1-22-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/NOTV " target="_blank">NOTV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/UHAL " target="_blank">UHAL </a><a href="https://roic.ai/company/GRI.L" target="_blank">GRI.L</a><a href="https://roic.ai/company/DHI " target="_blank">DHI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/625d4cf5eef5817d8a32bae1/1650281718164/Upslope+-+2022Q1+Letter.pdf">Upslope Capital Management</a></td><td width="13%">4/19/2022</td><td width="39%"><a href="https://roic.ai/company/BWXT " target="_blank">BWXT </a><a href="https://roic.ai/company/NSKFF " target="_blank">NSKFF </a><a href="https://roic.ai/company/CMGMF " target="_blank">CMGMF </a><a href="https://roic.ai/company/SLGN" target="_blank">SLGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/04/Akre-Focus-Fund-Quarterly-Commentary-2022-Q1.pdf#page=1">Akre Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/PLAN " target="_blank">PLAN </a><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/NEOG " target="_blank">NEOG </a><a href="https://roic.ai/company/CFLT " target="_blank">CFLT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/HQY " target="_blank">HQY </a><a href="https://roic.ai/company/CHX " target="_blank">CHX </a><a href="https://roic.ai/company/PDCE " target="_blank">PDCE </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/CRYX " target="_blank">CRYX </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/CRWD " target="_blank">CRWD </a><a href="https://roic.ai/company/BKR " target="_blank">BKR </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/AMD " target="_blank">AMD </a><a href="https://roic.ai/company/NTRA" target="_blank">NTRA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/CLB " target="_blank">CLB </a><a href="https://roic.ai/company/APR " target="_blank">APR </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/SWIM" target="_blank">SWIM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/1q2022-commentary">Whitebrook Capital</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/q1-2022-letter-be-greedy-when-everyone-else-is-fearful">Rowan Street Capital</a></td><td width="13%">4/20/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/DOCU " target="_blank">DOCU </a><a href="https://roic.ai/company/SHOP " target="_blank">SHOP </a><a href="https://roic.ai/company/NFLX" target="_blank">NFLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q22_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q22_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/NVDA " target="_blank">NVDA </a><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/1q22-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-03.31.22.pdf">Baron Health Care Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/ANTM " target="_blank">ANTM </a><a href="https://roic.ai/company/ABBV " target="_blank">ABBV </a><a href="https://roic.ai/company/NVO " target="_blank">NVO </a><a href="https://roic.ai/company/RHHBY" target="_blank">RHHBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-03.31.22.pdf">Baron Real Estate Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/MTN " target="_blank">MTN </a><a href="https://roic.ai/company/PSA " target="_blank">PSA </a><a href="https://roic.ai/company/BX " target="_blank">BX </a><a href="https://roic.ai/company/GDS " target="_blank">GDS </a><a href="https://roic.ai/company/LVS " target="_blank">LVS </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2022/04/PzenaNewsletter-Commentary-1Q22.pdf">Pzena Investment Management</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202112/Commentary-Small-Cap-Fund-2021-12-31.pdf?c=637860577560000000">Diamond Hill Small Cap Fund</a></td><td width="13%">4/21/2022</td><td width="39%"><a href="https://roic.ai/company/RHP " target="_blank">RHP </a><a href="https://roic.ai/company/ERII " target="_blank">ERII </a><a href="https://roic.ai/company/JOUT " target="_blank">JOUT </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-03.31.22.pdf">Baron Discovery Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/ACC " target="_blank">ACC </a><a href="https://roic.ai/company/AXON " target="_blank">AXON </a><a href="https://roic.ai/company/GTLS " target="_blank">GTLS </a><a href="https://roic.ai/company/GTLB " target="_blank">GTLB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/first-quarter-2022-investment-update/">Ensemble Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/GOOGL " target="_blank">GOOGL </a><a href="https://roic.ai/company/CMG " target="_blank">CMG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2022Q1NP.pdf">Hoisington Investment Management</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1eWlvQ6bBGVUrfdlMLRdnD2SXg_k4BxHc/view">Greenlight Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/GRBK " target="_blank">GRBK </a><a href="https://roic.ai/company/BHF " target="_blank">BHF </a><a href="https://roic.ai/company/INSW " target="_blank">INSW </a><a href="https://roic.ai/company/RYAAY " target="_blank">RYAAY </a><a href="https://roic.ai/company/SNX " target="_blank">SNX </a><a href="https://roic.ai/company/SWN " target="_blank">SWN </a><a href="https://roic.ai/company/WFRD" target="_blank">WFRD</a><a href="https://roic.ai/company/WFRD" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/626419bdf119917020e60231/1650727357479/NZS+Capital+Q1+2022+Letter.pdf">NZS Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/1q22_scv_commentary.pdf">Bernzott Capital Advisors</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/HALO " target="_blank">HALO </a><a href="https://roic.ai/company/HCI " target="_blank">HCI </a><a href="https://roic.ai/company/MP " target="_blank">MP </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/VNOM " target="_blank">VNOM </a><a href="https://roic.ai/company/CMP" target="_blank">CMP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202203.pdf">Bronte Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/HLF" target="_blank">HLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/letters">Arch Capital Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/WIX" target="_blank">WIX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://okeefestevens.com/wp-content/uploads/2022/04/Q1-2022-Letter.pdf">O'Keefe Stevens</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/EAF " target="_blank">EAF </a><a href="https://roic.ai/company/NMRK " target="_blank">NMRK </a><a href="https://roic.ai/company/INTC " target="_blank">INTC </a><a href="https://roic.ai/company/DFIN " target="_blank">DFIN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.nelsoncap.com/2022/04/19/a-shift-to-value/">Nelson Capital</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/1q/ARTKX-APDKX-APHKX-QCommentary-1Q22-vR.pdf">Artisan International Value Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/INGVF " target="_blank">INGVF </a><a href="https://roic.ai/company/DANOY " target="_blank">DANOY </a><a href="https://roic.ai/company/ACGL " target="_blank">ACGL </a><a href="https://roic.ai/company/ST " target="_blank">ST </a><a href="https://roic.ai/company/GRMN " target="_blank">GRMN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2022/1q/ARTMX-APDMX-APHMX-QCommentary-1Q22-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">4/23/2022</td><td width="39%"><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/WMS " target="_blank">WMS </a><a href="https://roic.ai/company/ZI " target="_blank">ZI </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/NVST " target="_blank">NVST </a><a href="https://roic.ai/company/COO " target="_blank">COO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/a-plethora-of-new-macro-trends/?nowprocket=1">Crestcat Capital</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2022-q1.pdf">Alphyn Capital Management</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/NPSNY " target="_blank">NPSNY </a><a href="https://roic.ai/company/W" target="_blank">W</a><a href="https://roic.ai/company/W" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/62631820b0120447ae1bfd0d/1650661409058/Q1+2022+Letter.pdf">Curreen Capital</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/625f19fcdfe4601f6c548eac/1650399740156/GCAM+Q1+2022+letter.pdf">Giverny Capital Asset Management</a></td><td width="13%">4/24/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/FIVE " target="_blank">FIVE </a><a href="https://roic.ai/company/ERFSF " target="_blank">ERFSF </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/IBP " target="_blank">IBP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q1-2022-letter">Andvari Associates</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/TOITF" target="_blank">TOITF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/626308527b9928476cd4c91a/1650657362518/Nordstern+Capital+1Q2022+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/THQQF " target="_blank">THQQF </a><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/EVVTY " target="_blank">EVVTY </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/ARCH " target="_blank">ARCH </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1651366770635">Miller Income Strategy</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/VALE " target="_blank">VALE </a><a href="https://roic.ai/company/QUAD " target="_blank">QUAD </a><a href="https://roic.ai/company/HRB " target="_blank">HRB </a><a href="https://roic.ai/company/SDIG " target="_blank">SDIG </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1651366550692">Miller Opportunity Trust</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/OVV " target="_blank">OVV </a><a href="https://roic.ai/company/FANG " target="_blank">FANG </a><a href="https://roic.ai/company/CLF " target="_blank">CLF </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/HLF" target="_blank">HLF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637868432950000000">Weitz Hickory Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/KMX " target="_blank">KMX </a><a href="https://roic.ai/company/MKL " target="_blank">MKL </a><a href="https://roic.ai/company/AZO" target="_blank">AZO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637868432950000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637868432950000000">Weitz Partners Value Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637868432950000000">Weitz Value Fund</a></td><td width="13%">4/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2022.pdf">Polen Capital - Focus Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/FB" target="_blank">FB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2022.pdf">Polen Capital - Global Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/SAP " target="_blank">SAP </a><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/ALGN" target="_blank">ALGN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2022.pdf">Polen Capital - International Growth</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2022/HL-EM-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2022/HL-Global-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Global Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/ROK " target="_blank">ROK </a><a href="https://roic.ai/company/SBGSY " target="_blank">SBGSY </a><a href="https://roic.ai/company/DE " target="_blank">DE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2022/HL-Global-Small-Cos-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/TCHBF " target="_blank">TCHBF </a><a href="https://roic.ai/company/KWS.L" target="_blank">KWS.L</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2022/HL-Intl-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner International Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2022/HL-Intl-Small-Cos-Equity-Quarterly-Report-1Q22.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/04/Epoch-Quarterly-Newsletter_April-2022.pdf">Epoch Investment Partners</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-03.31.22.pdf">Baron Asset Fund</a></td><td width="13%">5/01/2022</td><td width="39%"><a href="https://roic.ai/company/EPAM " target="_blank">EPAM </a><a href="https://roic.ai/company/TFX " target="_blank">TFX </a><a href="https://roic.ai/company/CSGP " target="_blank">CSGP </a><a href="https://roic.ai/company/FICO" target="_blank">FICO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/626fcd2edf6cb02eb0e8d2e3/1651494191083/2022.Q1+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/NGMS " target="_blank">NGMS </a><a href="https://roic.ai/company/DSKE " target="_blank">DSKE </a><a href="https://roic.ai/company/XPEL" target="_blank">XPEL</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-03.31.22.pdf">Baron Small Cap Fund</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/PGNY " target="_blank">PGNY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2022/04/Greystone-Capital-Q1-2022-Letter.pdf">Greystone Capital Management</a></td><td width="13%">5/02/2022</td><td width="39%"><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/62701052a50f890241d6532e/1651511379503/1Q22+letter.pdf">Long Cast Advisers </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/CCRD " target="_blank">CCRD </a><a href="https://roic.ai/company/DAIO" target="_blank">DAIO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/626fe5c78d02785e0c2d9450/1651500487422/Q1%2722+letter.pdf">1 Main Capital Partners</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/FIGS" target="_blank">FIGS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wedgewoodpartners.com/_files/ugd/d2a1d2_54611dd9142d4b99bd5919ac79a27e36.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/AYI " target="_blank">AYI </a><a href="https://roic.ai/company/MMS " target="_blank">MMS </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/6263e168f5c19b0ca3ab9afd/1650712936941/Greenhaven+Road+%282022+Q1%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/TDOC " target="_blank">TDOC </a><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-1Q2022.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/TSM " target="_blank">TSM </a><a href="https://roic.ai/company/WZZAF " target="_blank">WZZAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2022.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2022.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-1Q2022.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/BMBL " target="_blank">BMBL </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/HLNE " target="_blank">HLNE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6271768f1b27f83c5c8e5b7c/1651603089351/Q1+2022+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/QUCT " target="_blank">QUCT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q1-2022-Roundtable-Discussion-for-Website_FINAL.pdf">Horizon Kinetics</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-03.31.22.pdf">Baron FinTech Fund</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/EFX " target="_blank">EFX </a><a href="https://roic.ai/company/GLOB " target="_blank">GLOB </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2022Q1.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202022%20Final.pdf">Tweedy Browne</a></td><td width="13%">5/06/2022</td><td width="39%"><a href="https://roic.ai/company/BZZUY " target="_blank">BZZUY </a><a href="https://roic.ai/company/KOYJF " target="_blank">KOYJF </a><a href="https://roic.ai/company/THO " target="_blank">THO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/36dbc4dd-55c3-16ab-a279-58bcc8775251/Steel_City_Capital_1Q_22_Partner_Letter.pdf">Steel City Capital</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/SCI " target="_blank">SCI </a><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/LILA " target="_blank">LILA </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/APM" target="_blank">APM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://6004402.fs1.hubspotusercontent-na1.net/hubfs/6004402/Quarterly%20Letters/2022/Q1%202022%20Investor%20Letter%20-%20Final.pdf">Praetorian Capital </a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-commentary-2022-03.pdf?sfvrsn=b42909d_4">FPA Crescent Fund</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-qr-small-cap-value-fund-commentary-2022-q1.pdf?sfvrsn=8a4b909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2022-Q1-Aikya-letter.pdf">Aikya Funds</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1WM3rALdle5NhFgpyZF2jcNIXWe73VkYp/view">Tidefall Capital Management</a></td><td width="13%">5/07/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20220331.pdf">Rondure Global</a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlightcapital.com/saltlight-snn-worldwide-flexible-fund-investor-letter-1q22/">Saltlight Capital </a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/6282f5aca591b577f04a2bef/1652749741615/Bonsai+Partners+Fund+Q1+2022+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td width="13%">5/18/2022</td><td width="39%"><a href="https://roic.ai/company/ESTC" target="_blank">ESTC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://4043042.fs1.hubspotusercontent-na1.net/hubfs/4043042/Content%20Offers/2022.Q1%20Commentary/2022.Q1%20GR%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/_files/ugd/3b0d6d_28e86645644f4099b5b411a3025eaa0e.pdf">Saga Partners</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/CVNA " target="_blank">CVNA </a><a href="https://roic.ai/company/RDFN " target="_blank">RDFN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1TAGBJGoJzWm4JG4ubsb4vXyV72RBenz3/view">Andaz Private Investments</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/05/DKAM-ROE-Reporter-April-2022-Final-.pdf">Donville Kent Asset Management</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/EHMEF " target="_blank">EHMEF </a><a href="https://roic.ai/company/GIVX.TO " target="_blank">GIVX.TO </a><a href="https://roic.ai/company/VHIBF " target="_blank">VHIBF </a><a href="https://roic.ai/company/CTSDF" target="_blank">CTSDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2022-Q1.pdf">Hayden Capital</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-u.s.-value-fund/literature/quarterly-commentaries/fpa-us-core-equity-commentary-2022-q1.pdf?sfvrsn=7b4d909d_6">FPA U.S. Core Equity Fund</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/627182cef9390517a0bdfe5f/1651606222430/Maran+Partners+Fund+LP+2022+1Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/1Q22%20-%20FV.html">Bireme Capital</a></td><td width="13%">5/25/2022</td><td width="39%"><a href="https://roic.ai/company/NFLX " target="_blank">NFLX </a><a href="https://roic.ai/company/CGEAF " target="_blank">CGEAF </a><a href="https://roic.ai/company/FB" target="_blank">FB</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/627419a4d25dbf262c894fbd/1651775908325/2022.Q1+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/CTTZF " target="_blank">CTTZF </a><a href="https://roic.ai/company/SMNEY " target="_blank">SMNEY </a><a href="https://roic.ai/company/LUCRF " target="_blank">LUCRF </a><a href="https://roic.ai/company/IVPAF " target="_blank">IVPAF </a><a href="https://roic.ai/company/AOIFF" target="_blank">AOIFF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=2cf5241e3e">Argosy Investors</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/VZIO " target="_blank">VZIO </a><a href="https://roic.ai/company/FSV " target="_blank">FSV </a><a href="https://roic.ai/company/STNE " target="_blank">STNE </a><a href="https://roic.ai/company/IS" target="_blank">IS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-1q-2022-partner-letter-wl2T621Y">Artko Capital</a></td><td width="13%">5/26/2022</td><td width="39%"><a href="https://roic.ai/company/GOED WS " target="_blank">GOED WS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<span style="font-size: large;"><br /></span><p></p><span style="font-size: large;">4th Quarter 2021</span>
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<th>Stocks Mentioned</th></tr>
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<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2022/01/QUARTERLY-REPORT-December-2021-Web.pdf">East72 Holdings</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/ARKK" target="_blank">ARKK </a><a href="https://roic.ai/company/YBRHF" target="_blank">YBRHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_68_en.pdf">Vltava Fund</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/SBRCY " target="_blank">SBRCY </a><a href="https://roic.ai/company/BMWYY " target="_blank">BMWYY </a><a href="https://roic.ai/company/LH" target="_blank">LH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/61d3a86180af5560d2fc9f5e/1641261154076/Q42021.pdf">Comus Investments</a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2022/01/STJIC-Adviser-Letter-2021-Q4.pdf">St. James Investment Company </a></td><td width="13%">1/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_66728216a304405b84fd411d2f30a550.pdf">Palm Valley Capital Fund</a></td><td width="13%">1/09/2022</td><td width="39%"><a href="https://roic.ai/company/AGI " target="_blank">AGI </a><a href="https://roic.ai/company/DRQ " target="_blank">DRQ </a><a href="https://roic.ai/company/CRD-A " target="_blank">CRD-A </a><a href="https://roic.ai/company/WHGLY" target="_blank">WHGLY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/ec7645_e919e84dd8a844a18b04f9f24876b2fb.pdf">Wedgewood Partners Focus SMID Cap</a></td><td width="13%">1/12/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20211231.pdf">FMI All Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20211231.pdf">FMI International Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20211231.pdf">FMI Large Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20211231.pdf">FMI Small Cap Equity</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2022/01/Akre-Focus-Fund-Quarterly-Commentary-2021-Q4.pdf#page=1">Akre Focus Fund</a></td><td width="13%">1/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">1/14/2022</td><td width="39%"><a href="https://roic.ai/company/TFX" target="_blank">TFX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">1/14/2022</td><td width="39%"><a href="https://roic.ai/company/TFX" target="_blank">TFX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q4-2021-letter">Andvari Associates</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/MA " target="_blank">MA </a><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/NOVT" target="_blank">NOVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Quarterly-Letter-12.31.21.pdf">Baron Asset Fund</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-12.31.21.pdf">Baron Discovery Fund</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/BYD " target="_blank">BYD </a><a href="https://roic.ai/company/ENFN " target="_blank">ENFN </a><a href="https://roic.ai/company/BASE" target="_blank">BASE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_ff750f7afc8b4601a14ea1571b376bfc.pdf">Wedgewood Partners Large Cap Focused Growth</a></td><td width="13%">1/15/2022</td><td width="39%"><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/TSCO " target="_blank">TSCO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-12.31.21.pdf">Baron Real Estate Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Quarterly-Letter-12.31.21.pdf">Baron Health Care Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/AZN " target="_blank">AZN </a><a href="https://roic.ai/company/MCK " target="_blank">MCK </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/61df939be19b8f24cc253228/1642042267535/Q4+2021+Letter.pdf">Curreen Capital</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/AMD " target="_blank">AMD </a><a href="https://roic.ai/company/VCRA " target="_blank">VCRA </a><a href="https://roic.ai/company/BILL " target="_blank">BILL </a><a href="https://roic.ai/company/TASK " target="_blank">TASK </a><a href="https://roic.ai/company/BSY" target="_blank">BSY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/UPST " target="_blank">UPST </a><a href="https://roic.ai/company/MQ" target="_blank">MQ</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">1/16/2022</td><td width="39%"><a href="https://roic.ai/company/SITE " target="_blank">SITE </a><a href="https://roic.ai/company/SBNY " target="_blank">SBNY </a><a href="https://roic.ai/company/MEG " target="_blank">MEG </a><a href="https://roic.ai/company/CHGG " target="_blank">CHGG </a><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/EVBG" target="_blank">EVBG</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q4.pdf">Alphyn Capital Management</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/GOOG " target="_blank">GOOG </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/IAC " target="_blank">IAC </a><a href="https://roic.ai/company/OACB " target="_blank">OACB </a><a href="https://roic.ai/company/WANSF " target="_blank">WANSF </a><a href="https://roic.ai/company/W" target="_blank">W</a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2021/">Oakmark Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/WTW " target="_blank">WTW </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2021/">Oakmark Global Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2021/">Oakmark Global Select Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-fourth-quarter-2021/">Oakmark International Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2021/">Oakmark Select Fund</a></td><td width="13%">1/19/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/020149e8628527512acbfb43b/files/031c3cdc-d04b-09f3-5081-900e3c1555bd/Tollymore_letters_to_partners_Dec_2021.pdf">Tollymore Investment Partners</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/61e3d61d963af533b3d8f01c/1642321437303/2021+Q4.pdf">Blue Tower Asset Management</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/PPG" target="_blank">PPG </a><a href="https://roic.ai/company/EHC " target="_blank">EHC </a><a href="https://roic.ai/company/DLTR" target="_blank">DLTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/CCBG " target="_blank">CCBG </a><a href="https://roic.ai/company/PRGO " target="_blank">PRGO </a><a href="https://roic.ai/company/BRY " target="_blank">BRY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="13%">1/20/2022</td><td width="39%"><a href="https://roic.ai/company/TRS " target="_blank">TRS </a><a href="https://roic.ai/company/KN " target="_blank">KN </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/CVS" target="_blank">CVS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/LOW " target="_blank">LOW </a><a href="https://roic.ai/company/BDX " target="_blank">BDX </a><a href="https://roic.ai/company/NVS " target="_blank">NVS </a><a href="https://roic.ai/company/FISV " target="_blank">FISV </a><a href="https://roic.ai/company/V" target="_blank">V </a><a href="https://roic.ai/company/BKI " target="_blank">BKI </a><a href="https://roic.ai/company/PH" target="_blank">PH</a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BKI " target="_blank">BKI </a><a href="https://roic.ai/company/MKSI " target="_blank">MKSI </a><a href="https://roic.ai/company/DLTR" target="_blank">DLTR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/HAIN " target="_blank">HAIN </a><a href="https://roic.ai/company/ENTG " target="_blank">ENTG </a><a href="https://roic.ai/company/NEWR " target="_blank">NEWR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://ensemblecapital.com/wp-content/uploads/2022/01/ECM-Quarterly-Letter-4Q21.pdf">Ensemble Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BL " target="_blank">BL </a><a href="https://roic.ai/company/COST " target="_blank">COST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/61ddf8db43fdcd2d6b033b4b/1641937116559/NZS+Capital+Q4+2021+Letter.pdf">NZS Capital</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3117">Miller/Howard Investments</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/INV " target="_blank">INV </a><a href="https://roic.ai/company/CTT " target="_blank">CTT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/BATRA " target="_blank">BATRA </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/FRPH " target="_blank">FRPH </a><a href="https://roic.ai/company/FPH " target="_blank">FPH </a><a href="https://roic.ai/company/IVT" target="_blank">IVT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2022/01/Q4-2021-Letter.pdf">Distillate Capital</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.oldwestim.com/_files/ugd/718a37_d59e5529852440a9a9ce67ff4be178ba.pdf">Old West Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/PINS " target="_blank">PINS </a><a href="https://roic.ai/company/TWTR " target="_blank">TWTR </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/SQ " target="_blank">SQ </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/ILMN " target="_blank">ILMN </a><a href="https://roic.ai/company/SOFI " target="_blank">SOFI </a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_4Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/61e88024ea403840e2631912/1642627109448/Upslope+-+2021Q4+Letter.pdf">Upslope Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/MKTX " target="_blank">MKTX </a><a href="https://roic.ai/company/CASY" target="_blank">CASY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2022/01/Alluvial-Capital-Management-Q4-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/LICT " target="_blank">LICT </a><a href="https://roic.ai/company/CRAWA " target="_blank">CRAWA </a><a href="https://roic.ai/company/GTX " target="_blank">GTX </a><a href="https://roic.ai/company/UD.MI " target="_blank">UD.MI </a><a href="https://roic.ai/company/TIMB " target="_blank">TIM.WSE</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/4q21_scv_commentary__final_.pdf">Bernzott Capital Advisors</a></td><td width="13%">1/21/2022</td><td width="39%"><a href="https://roic.ai/company/WSC " target="_blank">WSC </a><a href="https://roic.ai/company/HI " target="_blank">HI </a><a href="https://roic.ai/company/UPLD " target="_blank">UPLD </a><a href="https://roic.ai/company/CMP " target="_blank">CMP </a><a href="https://roic.ai/company/JR" target="_blank">JRVR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2022/01/4Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/CPRI " target="_blank">CPRI </a><a href="https://roic.ai/company/SMAR " target="_blank">SMAR </a><a href="https://roic.ai/company/EVBG " target="_blank">EVBG </a><a href="https://roic.ai/company/GENI " target="_blank">GENI </a><a href="https://roic.ai/company/HSKA" target="_blank">HSKA</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/61e1a8df7c45833bf347b6e2/1642178783496/2021.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/GSL " target="_blank">GSL </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2021.pdf">L1 Capital Long Short Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2022/01/L1-International-Fund-December-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">1/22/2022</td><td width="39%"><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/CRH" target="_blank">CRH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Quarterly-Letter-12.31.21_1.pdf">Baron Small Cap Fund</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/SG" target="_blank">SG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Quarterly-Letter-12.31.21.pdf">Baron Growth Fund</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/MIR " target="_blank">MIR </a><a href="https://roic.ai/company/SG " target="_blank">SG </a><a href="https://roic.ai/company/WRBY" target="_blank">WRBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-2021-year-end-letter">Rowan Street Capital</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/DOCU " target="_blank">DOCU </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2021Q4NP.pdf">Hoisington Investment Management</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/4q2021-commentary">Whitebrook Capital</a></td><td width="13%">1/24/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.merionroadcapital.com/_files/ugd/f6ee8c_00e46e69dc984559a5f36c6ac0019842.pdf">Merion Road Capital</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/FERG " target="_blank">FERG </a><a href="https://roic.ai/company/ATVI " target="_blank">ATVI </a><a href="https://roic.ai/company/LEAT " target="_blank">LEAT </a><a href="https://roic.ai/company/LNSR " target="_blank">LNSR </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5fd3bbe6cdf707628cbdd084/t/61ec866c184e8c17755464c9/1642890860567/Nordstern+Capital+4Q2021+partnership+-+memo+-.pdf">Nordstern Capital</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/IPMLF " target="_blank">IPMLF </a><a href="https://roic.ai/company/STNE" target="_blank">STNE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AMZN " target="_blank">AMZN </a><a href="https://roic.ai/company/DOCU" target="_blank">DOCU</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2021.pdf">Polen Capital - Global Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/ADSK " target="_blank">ADSK </a><a href="https://roic.ai/company/V" target="_blank">V</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2021.pdf">Polen Capital - International Growth</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTKX-APDKX-APHKX-QCommentary-4Q21-vR.pdf">Artisan International Value Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/WTW " target="_blank">WTW </a><a href="https://roic.ai/company/ASBFY" target="_blank">ASBFY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTMX-APDMX-APHMX-QCommentary-4Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/ON " target="_blank">ON </a><a href="https://roic.ai/company/SPOT" target="_blank">SPOT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTSX-APDSX-APHSX-QCommentary-4Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/AZTA " target="_blank">AZTA </a><a href="https://roic.ai/company/CDMO " target="_blank">CDMO </a><a href="https://roic.ai/company/IRTC " target="_blank">IRTC </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/WK " target="_blank">WK </a><a href="https://roic.ai/company/BIGC" target="_blank">BIGC</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/4q/ARTLX-APDLX-APHLX-QCommentary-4Q21-vR.pdf">Artisan Value Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/V " target="_blank">V </a><a href="https://roic.ai/company/DIS" target="_blank">DIS</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2022/01/PzenaNewsletter-Commentary-4Q21.pdf">Pzena Investment Management</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/61eb18135e28e93a1b989a12/1642797076632/GCAM+2021+Q4+letter+.pdf">Giverny Capital Asset Management</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202112/Commentary-Small-Cap-Fund-2021-12-31.pdf?c=637787374490000000">Diamond Hill Small Cap Fund</a></td><td width="13%">1/26/2022</td><td width="39%"><a href="https://roic.ai/company/RHP " target="_blank">RHP </a><a href="https://roic.ai/company/ERII " target="_blank">ERII </a><a href="https://roic.ai/company/JOUT " target="_blank">JOUT </a><a href="https://roic.ai/company/RCKY" target="_blank">RCKY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/deep-value-strategy-4q21-letter/">Miller Deep Value</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/ENDP " target="_blank">ENDP </a><a href="https://roic.ai/company/NBR " target="_blank">NBR </a><a href="https://roic.ai/company/GCI " target="_blank">GCI </a><a href="https://roic.ai/company/CNDT " target="_blank">CNDT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1643292697477">Miller Income Strategy</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/APO " target="_blank">APO </a><a href="https://roic.ai/company/SCU " target="_blank">SCU </a><a href="https://roic.ai/company/SBRCY " target="_blank">SBRCY </a><a href="https://roic.ai/company/OMF" target="_blank">OMF</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervalue.com/opportunity-equity-4q21-letter/">Miller Opportunity Equity</a></td><td width="13%">1/27/2022</td><td width="39%"><a href="https://roic.ai/company/TMHC " target="_blank">TMHC </a><a href="https://roic.ai/company/MTTR " target="_blank">MTTR </a><a href="https://roic.ai/company/FANG " target="_blank">FANG </a><a href="https://roic.ai/company/SFIX " target="_blank">SFIX </a><a href="https://roic.ai/company/SPLK " target="_blank">SPLK </a><a href="https://roic.ai/company/NCLH" target="_blank">NCLH</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/2021-Annual-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/NOTV " target="_blank">NOTV </a><a href="https://roic.ai/company/UFPT " target="_blank">UFPT </a><a href="https://roic.ai/company/UTMD" target="_blank">UTMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2022_01_18.pdf">Myrmikan Research</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637787358840000000">Weitz Hickory Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/LBRDA " target="_blank">LBRDA </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637787358840000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637787358840000000">Weitz Partners Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637787358840000000">Weitz Value Fund</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1Nb2a7A-4S588IJtN5UVTb2Q_urhCnaNX/view">Greenlight Capital</a></td><td width="13%">1/28/2022</td><td width="39%"><a href="https://roic.ai/company/BHF " target="_blank">BHF </a><a href="https://roic.ai/company/TECK " target="_blank">TECK </a><a href="https://roic.ai/company/DNMR " target="_blank">DNMR </a><a href="https://roic.ai/company/GPN " target="_blank">GPN </a><a href="https://roic.ai/company/CPRI " target="_blank">CPRI </a><a href="https://roic.ai/company/GLPG " target="_blank">GLPG </a><a href="https://roic.ai/company/ODP" target="_blank">ODP</a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/AMG " target="_blank">AMG </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/CNHI " target="_blank">CNHI </a><a href="https://roic.ai/company/BIIB " target="_blank">BIIB </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/H " target="_blank">H </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/WMB " target="_blank">WMB </a><a href="https://roic.ai/company/LUMN " target="_blank">LUMN </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/BIIB " target="_blank">BIIB </a><a href="https://roic.ai/company/MGM " target="_blank">MGM </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CFRUY " target="_blank">CFRUY </a><a href="https://roic.ai/company/DPZ " target="_blank">DPZ </a><a href="https://roic.ai/company/FRFHF " target="_blank">FRFHF </a><a href="https://roic.ai/company/EXXRF " target="_blank">EXXRF </a><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/TIGO " target="_blank">TIGO </a><a href="https://roic.ai/company/PROSY " target="_blank">PROSY </a></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/4q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CNX " target="_blank">CNX </a><a href="https://roic.ai/company/RLGY " target="_blank">RLGY </a><a href="https://roic.ai/company/MAT " target="_blank">MAT </a><a href="https://roic.ai/company/RNR " target="_blank">RNR </a><a href="https://roic.ai/company/IDRSF " target="_blank">IDRSF </a><a href="https://roic.ai/company/LNXSF " target="_blank">LNXSF </a><a href="https://roic.ai/company/KODK" target="_blank">KODK</a></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202112.pdf">Bronte Capital</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/61e5e320b5857c262626e510/1642455841875/4Q21+letter.pdf">Long Cast Advisers </a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/AIMFF " target="_blank">AIMFF </a><a href="https://roic.ai/company/SNES " target="_blank">SNES </a><a href="https://roic.ai/company/SOTK " target="_blank">SOTK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/HL-EM-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/CCHGY " target="_blank">CCHGY </a><a href="https://roic.ai/company/MGLUY " target="_blank">MGLUY </a><a href="https://roic.ai/company/XP " target="_blank">XP </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/HL-Global-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Global Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/EW " target="_blank">EW </a><a href="https://roic.ai/company/ALGN " target="_blank">ALGN </a><a href="https://roic.ai/company/MELI" target="_blank">MELI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/HL-Global-Small-Cos-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/SLP " target="_blank">SLP </a><a href="https://roic.ai/company/ALTR " target="_blank">ALTR </a><a href="https://roic.ai/company/NEMTF " target="_blank">NEMTF </a><a href="https://roic.ai/company/ABMD" target="_blank">ABMD</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IADR/2021/HL-Intl-Equity-ADR-Quarterly-Report-4Q21.pdf">Harding Loevner International Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/HL-Intl-Small-Cos-Equity-Quarterly-Report-4Q21.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/MHSDF" target="_blank">MHSDF</a><a href="https://roic.ai/company/LZRFY " target="_blank">LZRFY </a><a href="https://roic.ai/company/VACNY " target="_blank">VACNY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2022/01/2021-12-December-Investor-Update.pdf">LRT Capital</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/WSO" target="_blank">WSO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.archcapitalfund.com/_files/ugd/d7eae5_05e73048c3af46bfa6ed0f81e0f43a29.pdf">Arch Capital Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/SPOT " target="_blank">SPOT </a><a href="https://roic.ai/company/SFM " target="_blank">SFM </a><a href="https://roic.ai/company/NNI " target="_blank">NNI </a><a href="https://roic.ai/company/TTWO " target="_blank">TTWO </a><a href="https://roic.ai/company/HRBR" target="_blank">HRBR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/825e7129-c367-9868-11ed-115b47c755b7/December_2021_Investor_Letter_The_Hidden_Taxvfin.pdf">Richie Capital Group</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/FREE " target="_blank">FREE </a><a href="https://roic.ai/company/AVGO " target="_blank">AVGO </a><a href="https://roic.ai/company/TTD " target="_blank">TTD </a><a href="https://roic.ai/company/ABT " target="_blank">ABT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/2022/01/15235630/Fundsmith-Equity-Funds-Q4-2021-Investor-Letter.pdf">Fundsmith Equity Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/MORN " target="_blank">MORN </a><a href="https://roic.ai/company/TREX " target="_blank">TREX </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/OLLI " target="_blank">OLLI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/TRNS " target="_blank">TRNS </a><a href="https://roic.ai/company/NPTN " target="_blank">NPTN </a><a href="https://roic.ai/company/CCXI " target="_blank">CCXI </a><a href="https://roic.ai/company/MSGM " target="_blank">MSGM </a><a href="https://roic.ai/company/CSTL " target="_blank">CSTL </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/RDVT " target="_blank">RDVT </a><a href="https://roic.ai/company/BWMN " target="_blank">BWMN </a><a href="https://roic.ai/company/PI " target="_blank">PI </a><a href="https://roic.ai/company/ASPU " target="_blank">ASPU </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/TCDM " target="_blank">TCDM </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/FND " target="_blank">FND </a><a href="https://roic.ai/company/BOOT " target="_blank">BOOT </a><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/MEDP " target="_blank">MEDP </a><a href="https://roic.ai/company/FRPT " target="_blank">FRPT </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/HQY" target="_blank">HQY</a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.12.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="13%">1/29/2022</td><td width="39%"><a href="https://roic.ai/company/ITCI " target="_blank">ITCI </a><a href="https://roic.ai/company/CCXI " target="_blank">CCXI </a><a href="https://roic.ai/company/NVMI " target="_blank">NVMI </a><a href="https://roic.ai/company/FRPT " target="_blank">FRPT </a><a href="https://roic.ai/company/LPRO " target="_blank">LPRO </a><a href="https://roic.ai/company/CSTL" target="_blank">CSTL</a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20211231.pdf">Rondure Global</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.frontauracapital.com/quarterlyletters/Frontaura_Quarterly_Letter_2021Q4.pdf">Frontaura Global Frontier Fund LLC </a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Amana-Q4-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.turtlecreek.ca/wp-content/uploads/2022/01/Turtle-Creek-Quarterly-Commentary-2021-Q4.pdf">Turtle Creek</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=5ad662b014">Argosy Investors</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/LESL " target="_blank">LESL </a><a href="https://roic.ai/company/AGIL " target="_blank">AGIL </a><a href="https://roic.ai/company/CURV " target="_blank">CURV </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://img1.wsimg.com/blobby/go/ee65fbd7-2d89-48b3-83e6-be9864c38c3b/downloads/2022%20Nitor%20Capital%20Management%20Annual%20Letter.pdf?ver=1643209078495">Nitor Capital</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/VST " target="_blank">VST </a><a href="https://roic.ai/company/CF " target="_blank">CF </a><a href="https://roic.ai/company/JOE " target="_blank">JOE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/61f4601ca0cc3227736bf76f/1643405340863/Greenhaven+Road+%282021+Q4%29+Quarterly+Letter.pdf">Greenhaven Road Capital</a></td><td width="13%">1/30/2022</td><td width="39%"><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/PAR " target="_blank">PAR </a><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/ESTC " target="_blank">ESTC </a><a href="https://roic.ai/company/TDOC " target="_blank">TDOC </a><a href="https://roic.ai/company/CLBT " target="_blank">CLBT </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/61f8b8cf6faed02fd91ec060/1643690191597/Q4+2021+Alta+Fox+Capital+Quarterly+Letter+-+final.pdf">Alta Fox Capital Management</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/IDT" target="_blank">IDT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/61f9cf7a3d4ef81723c5b357/1643761530528/Q4+2021+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/SODI " target="_blank">SODI </a><a href="https://roic.ai/company/PCHM " target="_blank">PCHM </a><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/PDRX " target="_blank">PDRX </a><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/WCRS" target="_blank">WCRS</a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/4Q21%20-%20FV.html">Bireme Capital</a></td><td width="13%">2/02/2022</td><td width="39%"><a href="https://roic.ai/company/AFRM " target="_blank">AFRM </a><a href="https://roic.ai/company/TME " target="_blank">TME </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2022/02/HCM-Q4-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/CRNC" target="_blank">CRNC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Emerging-Markets-Growth_Commentary-4Q2021.pdf">Polen Capital - Emerging Markets Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/TME" target="_blank">TME</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-SMID-Company-Growth_Commentary-4Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q4-Aikya-letter.pdf">Aikya Funds</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.firsteagle.com/FE-Global-Value-Team-Annual-Letter-2021_US">First Eagle Global Value</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2022/02/2021Q4-Commentary.pdf">Palm Capital</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/CNSWF " target="_blank">CNSWF </a><a href="https://roic.ai/company/CRM" target="_blank">CRM</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1KWg62-kXpSHzM2CGUzqlIA-6NFEERsOp/view">Andaz Private Investments</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/RKT " target="_blank">RKT </a><a href="https://roic.ai/company/XLNX " target="_blank">XLNX </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.sagapartners.com/post/investor-letter-h2-2021">Saga Partners</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/RDFN" target="_blank">RDFN</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/ypwx12sh2oxixmw/2021_CTG_InvestorLetter_III%20%28yr%20end%29.pdf?dl=0">Canterbury Tollgate</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2022/02/DKAM-ROE-Reporter-January-2022.pdf">Donville Kent Asset Management</a></td><td width="13%">2/04/2022</td><td width="39%"><a href="https://roic.ai/company/NGMS " target="_blank">NGMS </a><a href="https://roic.ai/company/GIVX.TO" target="_blank">GIVX.TO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2022/02/Greystone-Capital-Q4-2021-Letter.pdf">Greystone Capital Management</a></td><td width="13%">2/07/2022</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/GOED " target="_blank">GOED </a><a href="https://roic.ai/company/ID " target="_blank">ID </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/IDT" target="_blank">IDT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/2536952836a8f1408eed6fc6c/files/84ecef49-45e5-424c-1d06-7450ff480952/Fourth_Quarter_2021_Letter_to_Leaven_Partners.pdf">Leaven Partners</a></td><td width="13%">2/07/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/62025b581b92b1229ea34236/1644321624479/Q4%2721+letter.pdf">1 Main Capital Partners</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/61f704c1f0e77848cc88879f/1643578562345/Maran+Partners+Fund+LP+2021+4Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/CDRE" target="_blank">CDRE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-12.31.21.pdf">Baron FinTech Fund</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/LPLA " target="_blank">LPLA </a><a href="https://roic.ai/company/EXFY" target="_blank">EXFY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-12.31.21.pdf">Baron Partners Fund</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1ckJEI9udIXZDWQ_jpwjUhnq1iTVWn0YI/view">Tidefall Capital Management</a></td><td width="13%">2/08/2022</td><td width="39%"><a href="https://roic.ai/company/FFXDF" target="_blank">FFXDF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2021.pdf">Evermore Global Value Fund</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.palmharbourcapital.com/files/PHC%20Letter%20Q4%202021-FINAL_EN.pdf">Palm Harbour Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/OCINF " target="_blank">OCINF </a><a href="https://roic.ai/company/GEAHF " target="_blank">GEAHF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/62050baea91a235dd67c8baa/1644497838872/Laughing+Water+Capital+YE+2021.pdf">Laughing Water Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/CSPLF " target="_blank">CSPLF </a><a href="https://roic.ai/company/THRY " target="_blank">THRY </a><a href="https://roic.ai/company/HMHC " target="_blank">HMHC </a><a href="https://roic.ai/company/TACT" target="_blank">TACT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/caafeb57-9e30-8af0-e660-6464ae971825/Steel_City_Capital_4Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/GDOT " target="_blank">GDOT </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/SXC" target="_blank">SXC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202021%20Final.pdf">Tweedy Browne</a></td><td width="13%">2/10/2022</td><td width="39%"><a href="https://roic.ai/company/VRTX " target="_blank">VRTX </a><a href="https://roic.ai/company/RBSFY " target="_blank">RBSFY </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1NjbvXcjfNGinPg7Y3YySMQde4oN8gHjd/view">MPE Capital</a></td><td width="13%">2/11/2022</td><td width="39%"><a href="https://roic.ai/company/SQSP" target="_blank">SQSP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.emethvaluecapital.com/_files/ugd/b2ee4c_d8d3433827ac482ea4648323a2e6ecdf.pdf">Emeth Value Capital</a></td><td width="13%">2/12/2022</td><td width="39%"><a href="https://roic.ai/company/BUR" target="_blank">BUR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://srk-capital.com/content_files/2022/02/SRK-Fund-H2-2021-Letter.pdf">SRK Capital</a></td><td width="13%">2/12/2022</td><td width="39%"><a href="https://roic.ai/company/HROW " target="_blank">HROW </a><a href="https://roic.ai/company/TTSH " target="_blank">TTSH </a><a href="https://roic.ai/company/NNUP " target="_blank">NNUP </a><a href="https://roic.ai/company/PYCFF " target="_blank">PYCFF </a><a href="https://roic.ai/company/RTMAF " target="_blank">RTMAF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/mindset-value-cannabis-fund-year">Mindset Value Cannabis Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/VRNOF " target="_blank">VRNOF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fs.hubspotusercontent00.net/hubfs/6004402/Quarterly%20Letters/2021/2021%20Q4%20Investor%20Letter%20-%20Final.pdf">Praetorian Capital </a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/LEE " target="_blank">LEE </a><a href="https://roic.ai/company/JOE" target="_blank">JOE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q4-2021-Quarterly-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-12.31.21.pdf">Baron Opportunity Fund</a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/RIVN " target="_blank">RIVN </a><a href="https://roic.ai/company/MRTX " target="_blank">MRTX </a><a href="https://roic.ai/company/CTV " target="_blank">CTV </a><a href="https://roic.ai/company/FIGS " target="_blank">FIGS </a><a href="https://roic.ai/company/SHOP" target="_blank">SHOP</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SaltLight_Letter_4Q21.pdf">Saltlight Capital </a></td><td width="13%">2/13/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q4.pdf?sfvrsn=ec17909d_6">FPA Crescent Fund</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2022/02/Epoch-Quarterly-Newsletter_January-2022.pdf">Epoch Investment Partners</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lucacap.com/_files/ugd/f50b59_1915e17451f345ce963f4a53ececbb78.pdf">Luca Capital</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q4.pdf">Hayden Capital</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/SE" target="_blank">SE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lyricalam.com/wp-content/uploads/2022/01/LAM-2021-U.S.-Review-letter-1.pdf">Lyrical Asset Management</a></td><td width="13%">2/15/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2021-annual-partner-letter-wBqTRnab">Artko Capital</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/CURN " target="_blank">CURN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/ACFN " target="_blank">ACFN </a><a href="https://roic.ai/company/GAIA " target="_blank">GAIA </a><a href="https://roic.ai/company/HQI " target="_blank">HQI </a><a href="https://roic.ai/company/SHYF " target="_blank">SHYF </a><a href="https://roic.ai/company/NTIC " target="_blank">NTIC </a><a href="https://roic.ai/company/NTIC " target="_blank">PBPB</a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2022/02/2021-Year-End-Commentary_FINAL.pdf">RGA Investment Advisors</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/SFIX " target="_blank">SFIX </a><a href="https://roic.ai/company/ROKU " target="_blank">ROKU </a><a href="https://roic.ai/company/PYPL " target="_blank">PYPL </a><a href="https://roic.ai/company/DBX " target="_blank">DBX </a><a href="https://roic.ai/company/TWTR " target="_blank">TWTR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2022/02/bumbershoot-holdings-e28094-2022-2-feb-e28094-letter-to-partners-e28094-2021.pdf">Bumbershoot Holdings</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.broyhillasset.com/wp-content/uploads/2022/02/The-Broyhill-Letter-2021.Q4.pdf?ct=t(RSS_EMAIL_CAMPAIGN)&mc_cid=70cf4a1313&mc_eid=67cf7be10e">Broyhill Asset Management</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/CAR " target="_blank">CAR </a><a href="https://roic.ai/company/DLTR " target="_blank">DLTR </a><a href="https://roic.ai/company/MCK " target="_blank">MCK </a><a href="https://roic.ai/company/ABEV " target="_blank">ABEV </a><a href="https://roic.ai/company/BUD " target="_blank">BUD </a><a href="https://roic.ai/company/MSGE " target="_blank">MSGE </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.wormcapital.com/the-wormhole-source/q4-2021">Worm Capital</a></td><td width="13%">2/18/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2021-q4.pdf?sfvrsn=601e909d_4">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://taovalue.files.wordpress.com/2022/02/taovalue_2021_q4_final.pdf">Tao Value</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_4Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="13%">2/25/2022</td><td width="39%"><a href="https://roic.ai/company/AAPL " target="_blank">AAPL </a><a href="https://roic.ai/company/TPL " target="_blank">TPL </a><a href="https://roic.ai/company/TSCO " target="_blank">TSCO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Trust Funds</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/KKR " target="_blank">KKR </a><a href="https://roic.ai/company/MANU " target="_blank">MANU </a><a href="https://roic.ai/company/REZI " target="_blank">REZI </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/621d8a9deabea5384d671d4b/1646103197454/2021+Q4_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/AVYA " target="_blank">AVYA </a><a href="https://roic.ai/company/OLN " target="_blank">OLN </a><a href="https://roic.ai/company/ABG " target="_blank">ABG </a><a href="https://roic.ai/company/MT " target="_blank">MT </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/4b290b05-2ad7-5453-0d81-972ecbfe0df0/Rhizome_Partners_Q4_2021_Investor_Letter_Final_w_CP.pdf">Rhizome Partners</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/FRP " target="_blank">FRP </a><a href="https://roic.ai/company/HHC " target="_blank">HHC </a><a href="https://roic.ai/company/INDT " target="_blank">INDT </a><a href="https://roic.ai/company/CLPR" target="_blank">CLPR</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2022/02/VVP-Annual-Letter-21.12.31.pdf">Vulcan Value Partners</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q4%20Commentary/2021.Q4%20GR%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">3/01/2022</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<div><span style="font-size: large;"><br /></span></div><p></p><span style="font-size: large;">3rd Quarter 2021</span><br /><hr /><div><br /></div><div><br /></div><div>
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2021/10/QUARTERLY-REPORT-September-2021-WEB.pdf">East72 Holdings</a></td><td width="15%">10/08/2021</td><td width="39%">$ANSLY, $APPEF, $BOWX, $FRPH, $MAC, $LLC.AX</td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_67_en.pdf">Vltava Fund</a></td><td width="13%">10/08/2021</td><td width="39%">$WLTW</td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4518141/3rd%20Qtr%20Letter%20to%20Investors.pdf?__hstc=85836102.23c8f3e82a968957555abbebcad8e401.1633718563683.1633718563683.1633718563683.1&__hssc=85836102.1.1633718563684&__hsfp=2220563331&hsCtaTracking=f20d68ce-ba35-4ab5-8a9f-28c064d8d62e%7C38129298-76e6-4b80-827d-347d188cad6d">Massif Capital</a></td><td width="13%">10/08/2021</td><td width="39%">$SBLK</td></tr>
<tr><td width="48%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/10/HCM-Q3-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="13%">10/08/2021</td><td width="39%">$SPSC, $FICO, $TRNS</td></tr>
<tr><td width="48%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_78696aa87a57428b8dc7e1d59a24f061.pdf">Palm Valley Capital Fund</a></td><td width="13%">10/09/2021</td><td width="39%">$THS, $TRFPF, $AMRK, $WHGLY</td></tr>
<tr><td width="48%"><a href="https://stjic.com/wp-content/uploads/2021/10/STJIC-Adviser-Letter-2021-Q3-Final.pdf">St. James Investment Company </a></td><td width="13%">10/09/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/3bd743d8-12f8-fdff-fe90-0c8fbcc891da/September_2021_Investor_Letter_When_Everyone_is_in_Agreement_vfin.01.pdf">Richie Capital Group</a></td><td width="13%">10/11/2021</td><td width="39%">$FICO, $FREE, $INS, $MSCI</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/615770080d5db77b4d03451a/1633120265649/Q32021.pdf">Comus Investments</a></td><td width="13%">10/11/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6163cca8834694462ec5bf6c/1633930408143/2021+Q3.pdf">Blue Tower Asset Management</a></td><td width="13%">10/12/2021</td><td width="39%">$3723.T</td></tr>
<tr><td width="48%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_7edda3c956ef433dbbc1c1499ad03904.pdf">Wedgewood Partners</a></td><td width="13%">10/13/2021</td><td width="39%">$MSI, $UNH</td></tr>
<tr><td width="48%"><a href="https://dmzpartners.in/Documents/Files/DMZ-6993-DMZ-Partners-Semi-Annual-Letter-FY21-22.pdf">DMZ Partners</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210930.pdf">FMI All Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210930.pdf">FMI International Equity</a></td><td width="13%">10/14/2021</td><td width="39%">$RXLSF, $4403.T</td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210930.pdf">FMI Large Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210930.pdf">FMI Small Cap Equity</a></td><td width="13%">10/14/2021</td><td width="39%">$PCAR, $BRKB</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/616997337f463661f6409b2e/1634309939204/Q3+2021+Letter.pdf">Curreen Capital</a></td><td width="13%">10/15/2021</td><td width="39%">$JXN, $MIC</td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="13%">10/15/2021</td><td width="39%">$RYAN, $CSGP</td></tr>
<tr><td width="48%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="13%">10/15/2021</td><td width="39%">$BKR, $EOG</td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="13%">10/15/2021</td><td width="39%">$AMZN, $ADI, $PPG, $TEL</td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="13%">10/15/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/60e7cf14d93aeb546a13eaf3/1625804565827/Quarterly+Letter+-+Q3+2020.pdf">Worm Capital</a></td><td width="13%">10/16/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_70053807908848a9826c9af71f82c210.pdf">Merion Road Capital</a></td><td width="13%">10/16/2021</td><td width="39%">$BLDR, $RCKY</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/3Q21-Mid-Cap-Comm">Heartland Mid Cap Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$CBOE, $EXC, $SPB</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/3Q21-Value-Fund-Comm">Heartland Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$CVLG, $BBBY, $BRY</td></tr>
<tr><td width="48%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/3Q21-VP-Comm">Heartland Value Plus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$POR, $FCFS, $HAE</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$INMD, $GXO, $UPST, $RNLX, $GENI, $PINS</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$RGEN, $MPWR, $PAYC, $CDNA, $SHAK, $NVRO</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$UPST, $GOOG, $MSFT, $ROKU, $PINS, $PYPL</td></tr>
<tr><td width="48%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$UPST, $PCTY, $GLOB, $OLLI, $NVRO, $CLB</td></tr>
<tr><td width="48%"><a href="https://www.summersvalue.com/wp-content/uploads/3Q21-Investor-Letter.pdf">Summers Value Fund</a></td><td width="13%">10/16/2021</td><td width="39%">$NTOV, $ELMD</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-letter-9.30.21.pdf">Baron Growth Fund</a></td><td width="13%">10/17/2021</td><td width="39%">$VLD, $DNUT, $SMRT</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Quarterly-Letter-9.30.21.pdf">Baron Real Estate Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-9.30.21.pdf">Baron Health Care Fund</a></td><td width="13%">10/17/2021</td><td width="39%">$NTRA, $GDRX, $MRTX, $STVN</td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2021/">Oakmark Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2021/">Oakmark Global Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-third-quarter-2021/">Oakmark Global Select Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-third-quarter-2021/">Oakmark International Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-international-small-cap-fund-third-quarter-2021/">Oakmark International Small Cap Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2021/">Oakmark Select Fund</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.mhinvest.com/download.html?docId=3091">Miller/Howard Investments</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/616748eb5c9562698ee55a81/1634158828217/NZS+Capital+Q3+2021+Letter+Final.pdf">NZS Capital</a></td><td width="13%">10/17/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$APTS, $WARFY, $</td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$MSGE</td></tr>
<tr><td width="48%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="13%">10/19/2021</td><td width="39%">$BMWYY, $DDAIF, $BKRIF, $DB, $CSFFF, $LUNMF</td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/616d53174eca1923cfcd5120/1634554647983/Upslope+-+2021Q3+Letter.pdf">Upslope Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$TCHBF, $BWXT</td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.rowanstreet.com/post/rowan-street-q3-2021-letter">Rowan Street Capital</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_ee97904c9eeb422b94eafdc01a59a79d.pdf">Old West Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$FLGT</td></tr>
<tr><td width="48%"><a href="https://distillatecapital.com/wp-content/uploads/2021/10/Q3-2021-Letter.pdf">Distillate Capital</a></td><td width="13%">10/19/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q3.pdf">Alphyn Capital Management</a></td><td width="13%">10/19/2021</td><td width="39%">$PSTH, $CSPLF, $CRSS, $CFX, $NPSNY, $PROSY, $TCEHY</td></tr>
<tr><td width="48%"><a href="https://ensemblefund.com/third-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="13%">10/20/2021</td><td width="39%">$BKNG, $LSTR</td></tr>
<tr><td width="48%"><a href="https://smeadcap.com/wp-content/uploads/2021/10/3Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="13%">10/20/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_09_30_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="13%">10/20/2021</td><td width="39%">$ATIP, $VNOM</td></tr>
<tr><td width="48%"><a href="https://www.docdroid.net/IwyWM87/qlet2021-03-3-1-1-pdf">Greenlight Capital</a></td><td width="13%">10/20/2021</td><td width="39%">$GRBK, $BHF, $CSPLF $SONO</td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$DISCK</td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://southeasternasset.com/commentary/3q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$RNR</td></tr>
<tr><td width="48%"><a href="https://hoisington.com/pdf/HIM2021Q3NP.pdf">Hoisington Investment Management</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.whitebrookcapital.com/3q2021-commentary">Whitebrook Capital</a></td><td width="13%">10/21/2021</td><td width="39%">$QRTEA</td></tr>
<tr><td width="48%"><a href="https://l1international.com/wp-content/uploads/2021/10/L1-International-Fund-Sep-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="13%">10/21/2021</td><td width="39%">$TXN</td></tr>
<tr><td width="48%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2021.pdf">L1 Capital Long Short Fund</a></td><td width="13%">10/21/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://horizonkinetics.com/app/uploads/Q3-CVALUE-Review_FINAL-1.pdf">Horizon Kinetics</a></td><td width="13%">10/23/2021</td><td width="39%">$LNG, $TPL</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-letter-9.30.21.pdf">Baron Discovery Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$BASE, $SMRT, $MCG, $FORG, $QLYS</td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-9.30.21.pdf">Baron Asset Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$HUBS</td></tr>
<tr><td width="48%"><a href="https://arisaig.com/wp-content/uploads/2021/10/Arisaig-Quarterly-October-2021.pdf">Arisaig Partners</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/6171ac247c6fe3670903e719/1634839592319/Kinsman+Oak+-+Q3+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="13%">10/23/2021</td><td width="39%">$RICK</td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="13%">10/23/2021</td><td width="39%">$ABNB</td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2021.pdf">Polen Capital - Global Growth</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2021.pdf">Polen Capital - International Growth</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202109.pdf">Bronte Capital</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q3-Aikya-letter-Investment-Update-Autumn-2021.pdf">Aikya Funds</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.myrmikan.com/pub/Myrmikan_Research_2021_10_15.pdf">Myrmikan Research</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.crescat.net/september-performance-estimates/">Crestcat Capital</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.pzena.com/wp-content/uploads/2021/10/PzenaNewsletter-Commentary-3Q21-1.pdf">Pzena Investment Management</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202109/Commentary-Small-Cap-Fund-2021-09-30.pdf?c=637705371690000000">Diamond Hill Small Cap Fund</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.akrefund.com/wp-content/uploads/2021/10/Akre-Focus-Fund-Quarterly-Commentary-2021-Q3.pdf#page=1">Akre Focus Fund</a></td><td width="13%">10/23/2021</td><td width="39%"></td></tr>
<tr><td width="48%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20210930.pdf">Rondure Global</a></td><td width="13%">10/23/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTMX-APDMX-APHMX-QCommentary-3Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/NEO " target="_blank">NEO </a><a href="https://roic.ai/company/MQ " target="_blank">MQ </a><a href="https://roic.ai/company/ASND " target="_blank">ASND </a><a href="https://roic.ai/company/CDAY " target="_blank">CDAY </a><a href="https://roic.ai/company/ENTG" target="_blank">ENTG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTKX-APDKX-APHKX-QCommentary-3Q21-vR.pdf">Artisan International Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637705452170000000">Weitz Hickory Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637705452170000000">Weitz Partners III Opportunity Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637705452170000000">Weitz Partners Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637705452170000000">Weitz Value Fund</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/6170313de7824974acd905cb/1634742589280/GCAM+Q3-2021+letter.pdf">Giverny Capital Asset Management</a></td><td width="13%">10/24/2021</td><td width="39%"><a href="https://roic.ai/company/IIVI" target="_blank">IIVI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=0a903ea1f5">Argosy Investors</a></td><td width="13%">10/25/2021</td><td width="39%"><a href="https://roic.ai/company/DFH " target="_blank">DFH </a><a href="https://roic.ai/company/GO " target="_blank">GO </a><a href="https://roic.ai/company/RRTS " target="_blank">RRTS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd315918c-9729-4e3e-98ca-aac08ad53229_1928x2494.png">Tidefall Capital Management</a></td><td width="13%">10/25/2021</td><td width="39%"><a href="https://roic.ai/company/FRFHF" target="_blank">FRFHF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="13%">10/26/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-3Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="13%">10/26/2021</td><td width="39%"><a href="https://roic.ai/company/OLO" target="_blank">OLO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://taovalue.files.wordpress.com/2021/10/taovalue_2021_q3_final.pdf">Tao Value</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/FB " target="_blank">FB </a><a href="https://roic.ai/company/RBLX" target="_blank">RBLX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/617c36009692b75c50af7c04/1635530240599/Q3+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_GlobalValueTeam_Commentary.pdf">First Eagle Global Value</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/10/VVP-Quarterly-Letter-21.09.30.pdf">Vulcan Value Partners</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/LRCX " target="_blank">LRCX </a><a href="https://roic.ai/company/UPST " target="_blank">UPST </a><a href="https://roic.ai/company/AMAT" target="_blank">AMAT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q3.pdf?sfvrsn=f7db919d_6">FPA Crescent Fund</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1635549282596">Miller Opportunity Equity</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/BABA " target="_blank">BABA </a><a href="https://roic.ai/company/GM " target="_blank">GM </a><a href="https://roic.ai/company/FTCH " target="_blank">FTCH </a><a href="https://roic.ai/company/MTTR " target="_blank">MTTR </a><a href="https://roic.ai/company/WW " target="_blank">WW </a><a href="https://roic.ai/company/VRM " target="_blank">VRM </a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1635549972885">Miller Income Strategy</a></td><td width="13%">10/29/2021</td><td width="39%"><a href="https://roic.ai/company/APTS " target="_blank">APTS </a><a href="https://roic.ai/company/VALE " target="_blank">VALE </a><a href="https://roic.ai/company/CHS " target="_blank">CHS </a><a href="https://roic.ai/company/CC " target="_blank">CC </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/10/2021-09-September-Investor-Update.pdf">LRT Capital</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/TSCO" target="_blank">TSCO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_3a862abe12ef49a3a6ed24ad0e544622.pdf">Luca Capital</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/TDOC" target="_blank">TDOC</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/10/Greystone-Capital-Q3-2021-Letter.pdf">Greystone Capital Management</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/RSSS " target="_blank">RSSS </a><a href="https://roic.ai/company/BSFFF " target="_blank">BSFFF </a><a href="https://roic.ai/company/EDDRF " target="_blank">EDDRF </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.eipny.com/wp-content/uploads/2021/10/Epoch-Quarterly-Newsletter_October-2021.pdf">Epoch Investment Partners</a></td><td width="13%">10/30/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/DXCM " target="_blank">DXCM </a><a href="https://roic.ai/company/SNOW " target="_blank">SNOW </a><a href="https://roic.ai/company/TWLO " target="_blank">TWLO </a><a href="https://roic.ai/company/RNG " target="_blank">RNG </a><a href="https://roic.ai/company/EXAS " target="_blank">EXAS </a><a href="https://roic.ai/company/ZG " target="_blank">ZG </a><a href="https://roic.ai/company/SOFI" target="_blank">SOFI</a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_3Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/617ebf28a5fcd26d065ed9a0/1635696424780/Maran+Partners+Fund+LP+2021+3Q+Letter.pdf">Maran Capital Management</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/CLAR " target="_blank">CLAR </a><a href="https://roic.ai/company/TPB " target="_blank">TPB </a><a href="https://roic.ai/company/CRSS " target="_blank">CRSS </a><a href="https://roic.ai/company/AOUT" target="_blank">AOUT</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://s3.amazonaws.com/bireme/3Q21%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/RICK " target="_blank">RICK </a><a href="https://roic.ai/company/BOIVF " target="_blank">BOIVF </a><a href="https://roic.ai/company/ORI " target="_blank">ORI </a><a href="https://roic.ai/company/IMBBY" target="_blank">IMBBY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/617e856ac0c880691233af57/1635681642905/Q3%2721+letter.pdf">1 Main Capital Partners</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/LMB " target="_blank">LMB </a><a href="https://roic.ai/company/ATIP " target="_blank">ATIP </a><a href="https://roic.ai/company/GREE" target="_blank">GREE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mindsetvalue.substack.com/p/when-do-you-reevaluate-an-investment">Mindset Value Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://andvariassociates.com/q3-2021-letter">Andvari Associates</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/CHE" target="_blank">CHE</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-9.30.21.pdf">Baron FinTech Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/WPLCF " target="_blank">WPLCF </a><a href="https://roic.ai/company/CWAN " target="_blank">CWAN </a><a href="https://roic.ai/company/TOST" target="_blank">TOST</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.21.pdf">Baron Partners Fund</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-3Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-3Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-3Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/STAEF " target="_blank">STAEF </a><a href="https://roic.ai/company/ST " target="_blank">ST </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-3Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-3Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="13%">10/31/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/10/Alluvial-Capital-Management-Q3-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/PX " target="_blank">PX </a><a href="https://roic.ai/company/CRAWA " target="_blank">CRAWA </a><a href="https://roic.ai/company/LICT " target="_blank">LICT </a><a href="https://roic.ai/company/NUVR " target="_blank">NUVR </a><a href="https://roic.ai/company/WHLR " target="_blank">WHLR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/617c5f708ab5754dbc9ae419/1635540848533/Greenhaven+Road+%282021+Q3%29+Quarterly+Letter%5B21%5D.pdf">Greenhaven Road Capital</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/APPS " target="_blank">APPS </a><a href="https://roic.ai/company/MKTW" target="_blank">MKTW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.rgaia.com/wp-content/uploads/2021/11/Q32021-Investment-Commentary_Looking-inward-and-looking-westward.pdf">RGA Investment Advisors</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/KW" target="_blank">KW</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://donvillekent.com/wp-content/uploads/2021/11/DKAM-ROE-Reporter-October-2021.pdf">Donville Kent Asset Management</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/PRL.TO " target="_blank">PRL.TO </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static.seekingalpha.com/uploads/sa_presentations/847/75847/original.pdf">Tollymore Investment Partners</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/NXGPY " target="_blank">NXGPY </a><a href="https://roic.ai/company/HLFFF " target="_blank">HLFFF </a><a href="https://roic.ai/company/RDBBF" target="_blank">RDBBF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/bec99160-9175-6415-695f-c1f64e5e646e/Steel_City_Capital_3Q_21_Partner_Letter.pdf">Steel City Capital</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/ATEX " target="_blank">ATEX </a><a href="https://roic.ai/company/LSYN " target="_blank">LSYN </a><a href="https://roic.ai/company/SIGA" target="_blank">SIGA</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="13%">11/02/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_3Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="13%">11/04/2021</td><td width="39%"><a href="https://roic.ai/company/MSI " target="_blank">MSI </a><a href="https://roic.ai/company/UNH" target="_blank">UNH</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/APFDX-APDDX-APHDX-QCommentary-3Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTSX-APDSX-APHSX-QCommentary-3Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/COMP " target="_blank">COMP </a><a href="https://roic.ai/company/SI " target="_blank">SI </a><a href="https://roic.ai/company/TWOU " target="_blank">TWOU </a><a href="https://roic.ai/company/BTRS " target="_blank">BTRS </a><a href="https://roic.ai/company/OLO" target="_blank">OLO</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/3q/ARTLX-APDLX-APHLX-QCommentary-3Q21-vR.pdf">Artisan Value Fund</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Sustainable-Q3-2021-web.pdf">Saturna Capital</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Amana-Q3-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.saturna.com/sites/saturna.com/files/files/Sextant-Q3-20210930-web.pdf">Saturna Capital - Sextant Funds</a></td><td width="13%">11/06/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6186d96995befe0544bc22e2/1636227434790/Q3+2021+Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/BMTX " target="_blank">BMTX </a><a href="https://roic.ai/company/PCHM " target="_blank">PCHM </a><a href="https://roic.ai/company/NNUP" target="_blank">NNUP </a><a href="https://roic.ai/company/DBMG" target="_blank">DBMG</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-9.30.21.pdf">Baron Opportunity Fund</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/NTRA " target="_blank">NTRA </a><a href="https://roic.ai/company/NRDY " target="_blank">NRDY </a><a href="https://roic.ai/company/TOST " target="_blank">TOST </a><a href="https://roic.ai/company/CDAY" target="_blank">CDAY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-9.30.21.pdf">Baron Small Cap Fund</a></td><td width="13%">11/08/2021</td><td width="39%"><a href="https://roic.ai/company/MCG " target="_blank">MCG </a><a href="https://roic.ai/company/SMRT " target="_blank">SMRT </a><a href="https://roic.ai/company/HLLY" target="_blank">HLLY</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-3q-2021-partner-letter-w0DTgJKY">Artko Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/HQI" target="_blank">HQI</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q3.pdf">Hayden Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/COIN " target="_blank">COIN </a><a href="https://roic.ai/company/ZLPSF" target="_blank">ZLPSF</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202021%20Final.pdf">Tweedy Browne</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.dropbox.com/s/hrj7145nzxqor9u/2021_CTG_InvestorLetter_II.pdf?dl=0">Canterbury Tollgate</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://drive.google.com/file/d/1M9lcgQF8GuavsFmPSmyEwmuGqHQekh3t/view">Andaz Private Investments</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.riveroakcapital.se/docs/2021H1-ShareholderLetter-RiverOakCapitalAB.pdf">River Oak Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://palmcapital.co.za/wp-content/uploads/2021/11/2021Q3-Commentary.pdf">Palm Capital</a></td><td width="13%">11/17/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/618c1c08863e5466ef40eb3b/1636572168864/3Q21+Final.pdf">Long Cast Advisers </a></td><td width="13%">11/22/2021</td><td width="39%"><a href="https://roic.ai/company/SANW " target="_blank">SANW </a><a href="https://roic.ai/company/PDEX " target="_blank">PDEX </a><a href="https://roic.ai/company/CTEK " target="_blank">CTEK </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://fpa.com/docs/default-source/funds/fpa-queens-road-small-cap-value-fund/literature/fpa-queens-road-small-cap-value-fund-commentary-2021-q3.pdf?sfvrsn=8cde919d_10">FPA Queens Road Small Cap Value Fund</a></td><td width="13%">11/22/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://choice-equities.com/wp-content/uploads/2021/11/2021-Q3-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/FARM " target="_blank">FARM </a><a href="https://roic.ai/company/INVE " target="_blank">INVE </a><a href="https://roic.ai/company/GMS " target="_blank">GMS </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/">Ariel Trust Funds</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/BIDU " target="_blank">BIDU </a><a href="https://roic.ai/company/BWA " target="_blank">BWA </a><a href="https://roic.ai/company/CBRE " target="_blank">CBRE </a><a href="https://roic.ai/company/GNTX" target="_blank">GNTX</a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.gwinvestors.com/wp-content/uploads/2021.11.23-Q3-Letter-Defense-Offense-Conviction-v4-Clean.pdf">GreenWood Investors</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-3Q21.pdf">Horos Funds</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q3%20Commentary/2021.Q3%20GR_Market_Commentary.pdf">Goehring & Rozencwajg</a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://saltlight-website-files.s3.eu-west-1.amazonaws.com/documents/SaltLight_Investor_Letter_3Q21.pdf">Saltlight Capital </a></td><td width="13%">11/29/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://static1.squarespace.com/static/601ae5e60b044d0313307aca/t/619ea3551952ea74563e6b13/1637786454976/2021+Q3_Voss+Value+Funds+Letter+to+Partners.pdf">Voss Capital</a></td><td width="13%">12/14/2021</td><td width="39%"><a href="https://roic.ai/company/SWIR " target="_blank">SWIR </a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
<tr><td width="48%"><a href="https://www.turtlecreek.ca/wp-content/uploads/2021/11/Turtle-Creek-Quarterly-Commentary-2021-Q3.pdf">Turtle Creek</a></td><td width="13%">12/14/2021</td><td width="39%"><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a><a href="https://roic.ai/company/" target="_blank"></a></td></tr>
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<hr /><span style="font-size: large;">2nd Quarter 2021</span><br /><hr /><br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/07/STJIC-Adviser-Letter-2021-Q2-Final.pdf">St. James Investment Company </a></td><td width="15%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://east72.com.au/wp-content/uploads/2021/07/QUARTERLY-REPORT-June-2021-WEB.pdf">East72 Holdings</a></td><td width="10%">7/14/2021</td><td width="40%">$NAM.AX, $SZL.AX</td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_65_en.pdf">Vltava Fund</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/07/HCM-Q2-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="10%">7/14/2021</td><td width="40%">$ABCM</td></tr>
<tr><td width="50%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q2.pdf">Alphyn Capital Management</a></td><td width="10%">7/14/2021</td><td width="40%">$CRSS, $VMEO</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/60e104d88cf4a87ec6121191/1625359578136/Q22021.pdf">Comus Investments</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210630.pdf">FMI All Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210630.pdf">FMI International Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210630.pdf">FMI Large Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210630.pdf">FMI Small Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_a7010caa73484aa79860d446dfa072a3.pdf">Wedgewood Partners</a></td><td width="10%">7/14/2021</td><td width="40%">$CDW, $CPRT, $TSM</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">7/15/2021</td><td width="40%">$PROSY, $0200.HK</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_8c46c9c6e9d44d60a516d5174bda2794.pdf">Palm Valley Capital Fund</a></td><td width="10%">7/15/2021</td><td width="40%">$COG, $VWTR</td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/17j-cxhXk7CoZMnur9D3PlEstPJoENtoL/view">MPE Capital</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/60eef4cdf2ccfc444305a495/1626272975590/Worm+Capital+-+Q2+2021+Letter.pdf?utm_medium=email&_hsmi=140441214&_hsenc=p2ANqtz-8vBjMBZwyJR_miVrb6tu4LVmeAcMcRMU8xdNYgyNu-KeNGt9qPTyZaf3IvsTwE__LIbUSRxAbF9cgwLhcKJEe38NWRBw&utm_content=140441214&utm_source=hs_email">Worm Capital</a></td><td width="10%">7/17/2021</td><td width="40%">$ABNB, $SHOP, $TSLA</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/37ed0e4e-201e-3501-874f-69ad3236db36/June_2021_Investor_Letter_There_s_a_Playbook_for_That.pdf">Richie Capital Group</a></td><td width="10%">7/17/2021</td><td width="40%">$INS, $MKTX, $VMD, $TTD, $ADBE</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-june-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q2-letter-latent-value">Andvari Associates</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_2Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$NET, $BSY, $HUBS, $DKNG, $MGNI, $DISCK</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$PGNY, $CLB, $FSV, $EAR, $CHGG, $NEO</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$STRS, $FNMA</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2021/07/2Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_afba319ad48349ba9cf0f4bc1b4a9e21.pdf">Old West Capital Management</a></td><td width="10%">7/17/2021</td><td width="40%">$RFL, $URPTF</td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/07/Q2-2021-Letter.pdf">Distillate Capital</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.nelsoncapitalmgmt.com/wp-content/uploads/2021/07/2021-Q2-Nelson-Capital-Quarterly-Commentary.pdf">Nelson Capital</a></td><td width="10%">7/18/2021</td><td width="40%">$BKNG</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.21.pdf">Baron Health Care Fund</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.21.pdf">Baron Real Estate Fund</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$PPG, $FCFS, $DGX</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$MNR, $PDCO, $BBBY</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$DRQ, $AVNS, $FCFS</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/60ec92eef91837287388095f/1626116847850/NZS+Capital+Q2+2021+Letter.pdf">NZS Capital</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202Q2021%20Letter%20to%20Investors.pdf?__hstc=85836102.15f20432e0ea5dec955a13ff3d6a419d.1626639822446.1626639822446.1626639822446.1&__hssc=85836102.2.1626639822448&__hsfp=430853256&hsCtaTracking=58fc37ba-5f5d-410d-b210-865e3d2529e2%7C48fcdb2e-21a4-4454-83b8-dc7e654a0bcf">Massif Capital</a></td><td width="10%">7/18/2021</td><td width="40%">$ADMLF, $EQX, $AOIFF, $EQNR</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=2249">Miller/Howard Investments</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$AFL</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$BD, $DLTR, $PCAR, $PGR</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$CNNE, $PCAR</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_06_30_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="10%">7/20/2021</td><td width="40%">$ADTN, $ATSG, $GVA, $JRVR</td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/2q2021-commentary">Whitebrook Capital</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_8d85a47df4ac4bb28f307921fcd64961.pdf">Merion Road Capital</a></td><td width="10%">7/20/2021</td><td width="40%">$FLXS</td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/07/Arisaig-Quarterly-July-2021.pdf">Arisaig Partners</a></td><td width="10%">7/20/2021</td><td width="40%">$ARCE</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2021Q2NP.pdf">Hoisington Investment Management</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://l1international.com/wp-content/uploads/2021/07/L1-International-Fund-June-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$GPK</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/60f5143e81f38b20589bb696/1626674238831/2021+Q2.pdf">Blue Tower Asset Management</a></td><td width="10%">7/20/2021</td><td width="40%">$CNR, $TCS.L</td></tr>
<tr><td width="50%"><a href="https://tidefall.substack.com/p/q2-2021-letter">Tidefall Capital Management</a></td><td width="10%">7/20/2021</td><td width="40%">$FB</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/60f7ad8a3fe7684a17b9ef61/1626844555719/Q2+2021Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="10%">7/22/2021</td><td width="40%">$CCUR $YSACU $GOED $MGAG $SODI $PCOA $ASTR $DBMG $PCHM $NNUP</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/60f6f873da228c63e37549b6/1626798195865/Kinsman+Oak+-+Q2+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/07/VVP-Quarterly-Letter-21.06.30.pdf">Vulcan Value Partners</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2021.pdf">Polen Capital - Global Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2021.pdf">Polen Capital - International Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/1766ad27-75c5-d3bf-a347-f467d6f0f302/Steel_City_Capital_2Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="10%">7/22/2021</td><td width="40%">$ATEX, $NEWSA, $LSYN, $SIGA, $TRUP</td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/second-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$NTDOY, $ILMN</td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_93a7743bb3f24198a2d79dad4efa8a48.pdf">Spree Capital</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2021/">Oakmark Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2021/">Oakmark Global Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$THC, $INCZY</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-quarter-2021/">Oakmark Global Select Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-quarter-2021/">Oakmark International Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2021/">Oakmark Select Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$ALSN</td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q2-CVALUE-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="10%">7/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/60fa220c811d9973fb0f68e0/1627005453234/Maran+Partners+Fund+LP+2021+2Q+Letter.pdf">Maran Capital Management</a></td><td width="10%">7/24/2021</td><td width="40%">$CRSS, $CTT.PT, $CLAR, $PCYO</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202106.pdf">Bronte Capital</a></td><td width="10%">7/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.21.pdf">Baron Asset Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$AVLR</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.21.pdf">Baron Growth Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$ZY</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Quarterly-Letter-6.30.21.pdf">Baron Small Cap Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$JBI, $FA</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/60fb1f431155b25f3e6e24a3/1627070275338/Laughing+Water+Capital+H1+2021.pdf">Laughing Water Capital</a></td><td width="10%">7/25/2021</td><td width="40%">$AIMFF, $TACT, $THRY</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/60fbe987b6530a7c47398e53/1627122055845/Q2%2721+letter.pdf">1 Main Capital Partners</a></td><td width="10%">7/25/2021</td><td width="40%">$MHH, $ATIP.WS, $LMB</td></tr>
<tr><td width="50%"><a href="https://www.dropbox.com/s/01e8amkocdrjjai/Voss%20Value%20Fund%20Q2%202021%20Letter.pdf?dl=0">Voss Capital</a></td><td width="10%">7/25/2021</td><td width="40%">$IMXI, $ECNCF</td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/07/Greystone-Capital-Q2-2021-Letter-1.pdf">Greystone Capital Management</a></td><td width="10%">7/25/2021</td><td width="40%">$HOME, $THBRF</td></tr>
<tr><td width="50%"><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_39ad74e8a82d44d0bdcf9529b65981f7.pdf">Emeth Value Capital</a></td><td width="10%">7/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/2Q21-Investor-Letter-.pdf">Summers Value Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTKX-APDKX-APHKX-QCommentary-2Q21-vR.pdf">Artisan International Value Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTMX-APDMX-APHMX-QCommentary-2Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$LPLA, $ENTG, $WMS, $HUBS, $GMAB</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTSX-APDSX-APHSX-QCommentary-2Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$OLO, $WK, $EB, $WMS, $VMI, $BIGC</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-6.30.21.pdf">Baron Opportunity Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$EDR, $INDI, $RNG, $TEAM, $SOFI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-6.30.21.pdf">Baron Partners Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-6.30.21.pdf">Baron FinTech Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$DLO, $MQ, $SOFI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-6.30.21.pdf">Baron Discovery Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$JBGS, $DV, $INDI, $ALKT, $PING, $ZY, $OLK, $RXRX</td></tr>
<tr><td width="50%"><a href="https://www.akrefund.com/wp-content/uploads/2021/07/Akre-Focus-Fund-Quarterly-Commentary-2021-Q2.pdf">Akre Focus Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/07/Epoch-Quarterly-Newsletter_July-2021.pdf">Epoch Investment Partners</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/07/Qlet2021-02-1.pdf">Greenlight Capital</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-2Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202106/Commentary-Small-Cap-Fund-2021-06-30.pdf?c=637629261700000000">Diamond Hill Small Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/07/Alluvial-Capital-Management-Q2-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="10%">7/28/2021</td><td width="40%">$GTX, $PIOE, $CRSS, $TPRP</td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=b8f98eac91">Argosy Investors</a></td><td width="10%">7/28/2021</td><td width="40%">$FERG, $ARLO, $VZIO</td></tr>
<tr><td width="50%"><a href="https://static.seekingalpha.com/uploads/sa_presentations/620/71620/original.pdf">JDP Capital Management</a></td><td width="10%">7/29/2021</td><td width="40%">$SPOT, $ROKU, $DRTT, $INVVY, $STNE</td></tr>
<tr><td width="50%"><a href="https://boyarvaluegroup.com/bvg-pdf/2Q_2021_BVG.pdf">Boyar Value Group</a></td><td width="10%">7/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/60f5db77fc97a93375260820/1626725239450/2Q21+Letter.pdf">Long Cast Advisers </a></td><td width="10%">7/29/2021</td><td width="40%">$QRHC</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637632664960000000">Weitz Hickory Fund</a></td><td width="10%">7/31/2021</td><td width="40%">$MKTX, $DNB</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637632664960000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637632664960000000">Weitz Partners Value Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637632664960000000">Weitz Value Fund</a></td><td width="10%">7/31/2021</td><td width="40%">$ROP</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/60edefe81f6a951228719afb/1626206185704/GCAM+Q2+2021+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">7/31/2021</td><td width="40%">$ACOPF, $ATHM, $KMX</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/610450a3423d6c305d644531/1627672739392/Q2+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/07/DKAM-ROE-Reporter-July-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">7/31/2021</td><td width="40%">$PLCKF, $NOW.V</td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf">First Eagle Global Value</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rowanstreet.com/post/rowan-street-h1-2021-letter">Rowan Street Capital</a></td><td width="10%">7/31/2021</td><td width="40%">$SPOT, $FB</td></tr>
<tr><td width="50%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q2.pdf?sfvrsn=9d9e919d_4">FPA Crescent Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_07_12.pdf">Myrmikan Research</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2021.pdf">L1 Capital Long Short Fund</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q2-Aikya-Letter.pdf">Aikya Funds</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q21.pdf">Horos Funds</a></td><td width="10%">8/10/2021</td><td width="40%">$SUHJY, $MBI</td></tr>
<tr><td width="50%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202021%20-%20Final.pdf">Tweedy Browne</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/60f5682aac77840235833ab0/1626695723048/Upslope+-+2021Q2+Letter.pdf">Upslope Capital Management</a></td><td width="10%">8/10/2021</td><td width="40%">$MKTX, $ENV</td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/july-research-letter-not-your-mothers-inflation/">Crestcat Capital</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/staying-the-course-inflation-and-value-investing/">Pzena Investment Management</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/08/06/investor-letter-2021-q2/">Tao Value</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdpointlimited.com/wp-content/uploads/2021/08/Third-Point-Q2-2021-Investor-Letter-TPIL.pdf">Third Point</a></td><td width="10%">8/10/2021</td><td width="40%">$RH, $DIS</td></tr>
<tr><td width="50%"><a href="https://www.rgaia.com/wp-content/uploads/2021/08/Q2-2021-Investment-Commentary_Final.pdf">RGA Investment Advisors</a></td><td width="10%">8/10/2021</td><td width="40%">$SFIX</td></tr>
<tr><td width="50%"><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_41dd99dced82438a8be6619d79aa814d.pdf">Luca Capital</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1628686646354">Miller Income Strategy</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1628686579058">Miller Opportunity Equity</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q2%20Commentary/2021.Q2%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/APFDX-APDDX-APHDX-QCommentary-2Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTLX-APDLX-APHLX-QCommentary-2Q21-vR.pdf">Artisan Value Fund</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2q-2021-partner-letter-XzMTMlk1">Artko Capital</a></td><td width="10%">8/23/2021</td><td width="40%">$GLBI, $CURN</td></tr>
<tr><td width="50%"><a href="https://choice-equities.com/wp-content/uploads/2021/08/2021-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="10%">8/23/2021</td><td width="40%">$INVE</td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/07/2021-06-June-Investor-Update.pdf">LRT Capital</a></td><td width="10%">8/23/2021</td><td width="40%">$DPZ, $SCL, $MAR, $NVO, $RGEN, $HXL, $WSO, $TPL, $CIGI, $TFII</td></tr>
<tr><td width="50%"><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_88277daf3c064730b1a221d3605374cd.pdf">Saga Partners</a></td><td width="10%">8/23/2021</td><td width="40%">$GDRX</td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-2Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-2Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-2Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-2Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-2Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.appleseedfund.com/wp-content/uploads/2021/08/APPLX-2021-Q3-Letter.pdf">Appleseed Fund</a></td><td width="10%">8/28/2021</td><td width="40%">$HLF, $BOWFF, $ALL, $NPSNY</td></tr>
<tr><td width="50%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/">Ariel Trust Funds</a></td><td width="10%">8/28/2021</td><td width="40%">$ADT, $BOKF, $MDP</td></tr>
<tr><td width="50%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20210630.pdf">Rondure Global</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_2Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="10%">8/28/2021</td><td width="40%">$CDW, $CPRT, $TSM</td></tr>
<tr><td width="50%"><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/semi-annual-letter-to-shareholders-2021.pdf?sfvrsn=6">Fundsmith Equity Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/60fd6459b6530a7c47483cb4/1627219033515/Greenhaven+Road+Letter+%282021+Q2%29%5B14%5D.pdf">Greenhaven Road Capital</a></td><td width="10%">8/28/2021</td><td width="40%">$MKTW</td></tr>
<tr><td width="50%"><a href="http://www.goodhavenfunds.com/media/pdfs/2021_SAR.pdf">GoodHaven Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q2.pdf">Hayden Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/46240c98-192f-54b0-e33f-04bcfae1a6d3/Arquitos_Investor_Letter_Q2_2021.pdf">Arquitos Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2021.pdf">Evermore Global Value Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1z0cVyJJhW2gOIRJjcnm97gLAHPyGB7y5/view">Andaz Private Investments</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://4bcad08e-7e47-411d-ace4-bf332d18ac81.filesusr.com/ugd/ae68ee_0b2b61051db64ebd8e6c9b6bf84f5bf5.pdf">WertArt Capital</a></td><td width="10%">8/28/2021</td><td width="40%">$SUPN, $GOE.PA, $NTDOY, $HSCNF</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/129847b2-a046-f058-3f5b-574f42e332c7/Rhizome_Partners_Q2_2021_Investor_Letter_Final_8_11_2021.pdf">Rhizome Partners</a></td><td width="10%">8/28/2021</td><td width="40%">$FRPH</td></tr>
<tr><td width="50%"><a href="https://palmcapital.co.za/wp-content/uploads/2021/08/2021Q2-Commentary.pdf">Palm Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
</tbody>
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<hr /><span style="font-size: large;">1st Quarter 2021</span><br /><hr /><br />
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<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/04/STJIC-Adviser-Letter-2021-Q1-Final.pdf">St. James Investment Company </a></td><td width="15%">4/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/04/HCM-Q1-21-Quarterly-Letter.pdf">Headwaters Capital</a></td><td width="10%">4/05/2021</td><td width="40%">$AFG, $TREE</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/60661aecfb181a159d5db5c6/1617304300584/Q12021.pdf">Comus Investments</a></td><td width="10%">4/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/606b99c2db9f0919a2294aa6/1617664479120/Del+Principe+O%27Brien+March+2021+Letter+.pdf">Del Principe O’Brien Financial Advisors</a></td><td width="10%">4/05/2021</td><td width="40%">$AVGO, $DISCA, $BIIB</td></tr>
<tr><td width="50%"><a href="http://east72.com.au/wp-content/uploads/2021/04/QUARTERLY-REPORT-Public-March-2021.pdf">East72 Holdings</a></td><td width="10%">4/06/2021</td><td width="40%">$VHI, $HALFF</td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_64_en.pdf">Vltava Fund</a></td><td width="10%">4/07/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$PHYS, $CRI, $WHGLY, $DOX</td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_349e86f42c3f42c78ed7759e48940932.pdf">Merion Road Capital</a></td><td width="10%">4/08/2021</td><td width="40%">$FNF, $RCKY</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2021/">Oakmark Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$MO, $COP</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2021/">Oakmark Select Fund</a></td><td width="10%">4/08/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2021/">Oakmark Global Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$CGEMY, $FISV, $GD, $HUM, $SAP</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-quarter-2021/">Oakmark Global Select Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$DDAIF, $CS</td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Worm%20Capital%20-%20Q1%202021%20Letter.pdf?utm_medium=email&_hsmi=120528142&_hsenc=p2ANqtz-88OPptDlNk0V_RKer-I8HnGkft2e5Y_-jllYmTk9S3aCp_JUT34K1fdxVHIJ8TE3KQBnHX6Ndz6Zovncgns-qhi6iROQ&utm_content=120528142&utm_source=hs_email">Worm Capital</a></td><td width="10%">4/09/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://p.weebly.com/14123551/80d38a39e3/ACML_2021_Q1.pdf">Alphyn Capital Management</a></td><td width="10%">4/11/2021</td><td width="40%">$CFX</td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=a1db0cdb72">Argosy Investors</a></td><td width="10%">4/12/2021</td><td width="40%">$KAR, $GO, $CNSWF, $RRTS, $DFH, $RGLD</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/c6900e62-2470-4112-ad70-66c7876601e0/March_2021_Investor_Letter_Institutional_Imperative_vFinal.pdf">Richie Capital Group</a></td><td width="10%">4/12/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_de9b06acfa2e43c1b2cccbeecbca5f38.pdf">Wedgewood Partners</a></td><td width="10%">4/14/2021</td><td width="40%">$BKNG, $EW, $ODFL, $SBUX</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">4/14/2021</td><td width="40%">$MSTR, $DKNG, $MGNI, $EH, $CHPT, $PLAN</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">4/14/2021</td><td width="40%">$SHAK, $CTRX, $TECH, $BLI, $BIGC, $AVLR</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210331.pdf">FMI All Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210331.pdf">FMI International Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210331.pdf">FMI Large Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210331.pdf">FMI Small Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">4/15/2021</td><td width="40%">$UNH, $BKNG, $SCHW, $SQ, ZG, $SNOW, $FTCH</td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$UNH, $BKNG, $SCHW, $SQ, ZG, $SNOW, $FTCH</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202103.pdf">Bronte Capital</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/607848df2b3546320bb614e8/1618495713359/Upslope+-+2021Q1+Letter.pdf">Upslope Capital Management</a></td><td width="10%">4/15/2021</td><td width="40%">$FCV, $TMXXF, $CBOE</td></tr>
<tr><td width="50%"><a href="https://www.nzscapital.com/quarterly-letters/q1-2021-letter">NZS Capital</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$LUMN, $AMG, $CNX, $GE, $MGM, $FRFHF, $CNHI</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$LUMN,$CNX, $ESRT, $RLGY, $MAT</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">4/15/2021</td><td width="40%">$TOITF, $ATVI</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">4/15/2021</td><td width="40%">$TOITF, $ATVI</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2021Q1NP.pdf">Hoisington Investment Management</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$FISV</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q1-letter-fewer-but-better">Andvari Associates</a></td><td width="10%">4/15/2021</td><td width="40%">$CSGP</td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_e111d7b217d84fc6a3d141bc4da4e2c2.pdf">Old West Capital Management</a></td><td width="10%">4/16/2021</td><td width="40%">$RFL</td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/1Q21-Investor-Letter.pdf">Summers Value Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$ELMD</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.21.pdf">Baron Asset Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$TRIP, $EPAM</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.21.pdf">Baron Discovery Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$TRIP, $VSPR, $MRCY, $DSP, $SAIL</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.21.pdf">Baron Health Care Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$ICLR, $TECH</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-3.31.21_0.pdf">Baron Opportunity Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/first-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$$FAST, $HD</td></tr>
<tr><td width="50%"><a href="https://info.massifcap.com/cs/c/?cta_guid=1c92330b-c129-4677-99c2-1e472dbf2bf3&signature=AAH58kGMg6AB-2tlmoiqkWnIMLMFRr9cxQ&pageId=44998595421&placement_guid=7176c8ab-1803-4f2a-982d-00261ee33e87&click=6453a38f-d437-4d45-9ed8-0f022fea3c0a&hsutk=c7a00000129d1ab31df10178dc3acf03&canon=https%3A%2F%2Finfo.massifcap.com%2Ffirst-quarter-2021-letter-to-investors-full&utm_referrer=https%3A%2F%2Fwww.reddit.com%2F&portal_id=4518141&redirect_url=APefjpEOhoAzbqmMIGOodmqp0YJMarGkKPCQ1nX11xmBRxJ3L4UbCp_iosSORBALh1LqwIe1d_UqRT13T7zUISDnL-XXSv7NhAmiwt7Dncx1kydBMgDScbvQqAFVXlU4Qnf2IA_vtv_KNfm2dnj5hsQkQS2Z5eeIE8Agbwyqo5u5eJEwmADP9bR9-Y5VMS0hdwmUfjzSDDyXqFpOc4YMjE9gg5FAMt3Q29eD5dCCdKc00dq0Mko-5sE915i8kn9_2z5U3P3EaJ-kN97S0lErcVWVMvpQyLPkMA">Massif Capital</a></td><td width="10%">4/16/2021</td><td width="40%">$LAC, $IVN, $TRQ</td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/04/Qlet2021-01-2.pdf">Greenlight Capital</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_1f4310f663684c688a501f1d425e1cb5.pdf">Spree Capital</a></td><td width="10%">4/16/2021</td><td width="40%">$ICE</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=3059">Miller/Howard Investments</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2021/04/shareholder-letter-smead-value-fund1.pdf">Smead Value Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_03_31_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="10%">4/17/2021</td><td width="40%">$UPLD, $ORBC, $JIH</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTMX-APDMX-APHMX-QCommentary-1Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/1q2021-commentary">Whitebrook Capital</a></td><td width="10%">4/17/2021</td><td width="40%">$DISCA, $CNDT</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6073fa24de1505281daa7d78/1618213412780/2021+Q1.pdf">Blue Tower Asset Management</a></td><td width="10%">4/17/2021</td><td width="40%">$CGEO.L</td></tr>
<tr><td width="50%"><a href="https://l1international.com/wp-content/uploads/2021/04/L1_International_Fund_March_2021_Quarterly.pdf">L1 International Capital Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-1Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-1Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-1Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="10%">4/17/2021</td><td width="40%">$HNHPF, $WEGZY, $6415.TW</td></tr>
<tr><td width="50%"><a href="https://www.nelsoncapitalmgmt.com/wp-content/uploads/2021/04/2021Q1.pdf">Nelson Capital</a></td><td width="10%">4/17/2021</td><td width="40%">$DNMR</td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/04/Q1-2021-Letter.pdf">Distillate Capital</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.akrefund.com/wp-content/uploads/2021/04/Akre-Focus-Fund-Quarterly-Commentary-2021-Q1.pdf">Akre Focus Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="10%">4/18/2021</td><td width="40%">$VREOF, $SKY, $MX, $NLS, $ASPU, $STRL, $ROAD</td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/04/Arisaig-Quarterly-April-2021.pdf">Arisaig Partners</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$LEN, $BAM, $CBRE, $JBGS, $PLD</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$BSIG</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr><tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.21.pdf">Baron Growth Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$ACVA</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.21.pdf">Baron Partners Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.21_0.pdf">Baron Real Estate Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc936d6a4-4d95-4062-a6d3-1be113b71c41_1770x2502.png">Tidefall Capital Management</a></td><td width="10%">4/22/2021</td><td width="40%">$BRK.B</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/607dbeff4b7b445d523e1dda/1618853631624/GCAM+Q1+2021+client+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">4/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$UHAL, $RGA, $PSB</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$CCBG, $NFG, $CGAU</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$PAHC, $MEI</td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/04/Greystone-Capital-Q1-2021-Letter.pdf">Greystone Capital Management</a></td><td width="10%">4/25/2021</td><td width="40%">$PW, $SHSP, $HIL, $THRY, $RMNI, $LSYN, $PLBY</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/608403732cc7860039191c41/1619264371755/Q1%2721+letter.pdf">1 Main Capital Partners</a></td><td width="10%">4/25/2021</td><td width="40%">$GOOG, $KKR, $LMB, $PSH, $RICK, $LGIH, $W, $WINE.LN</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="10%">4/25/2021</td><td width="40%">$AMZN, $NFLX, $CRM</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2021.pdf">Polen Capital - Global Growth</a></td><td width="10%">4/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2021.pdf">Polen Capital - International Growth</a></td><td width="10%">4/25/2021</td><td width="40%">$TCRHY, $AON, $SGPYY, $EDU, $ADDYY, $CSLLY, $EVVTY</td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q1-2021-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="10%">4/25/2021</td><td width="40%">$TPL</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/608306de4e49f0272799af39/1619199711634/Kinsman+Oak+-+Q1+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="10%">4/25/2021</td><td width="40%">$BWXT</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-3.31.21.pdf">Baron FinTech Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.21.pdf">Baron Small Cap Fund</a></td><td width="10%">4/27/2021</td><td width="40%">$DRVN, $ETWO, $SHLS</td></tr>
<tr><td width="50%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q21.pdf">Horos Funds</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/60837419998e6d1327cad2f2/1619227673384/Laughing+Water+Capital+Q1+2021.pdf">Laughing Water Capital</a></td><td width="10%">4/27/2021</td><td width="40%">$RMNI, $ITI</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTKX-APDKX-APHKX-QCommentary-1Q21-vR.pdf">Artisan International Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTSX-APDSX-APHSX-QCommentary-1Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary_0.PDF">First Eagle Global Value</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/04/VVP-Quarterly-Letter-21.03.31.pdf">Vulcan Value Partners</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637551430890000000">Weitz Hickory Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637551430890000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637551430890000000">Weitz Partners Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637551430890000000">Weitz Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2021.pdf">L1 Capital Long Short Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aikya.co.uk/wp-content/uploads/2021/04/2021-Q1-Aikya-letter.pdf">Aikya Funds</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/04/Alluvial-Capital-Management-Q1-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="10%">4/28/2021</td><td width="40%">$PIOE, $CRAWA, $LGNC, $WHLR, $MMAC</td></tr>
<tr><td width="50%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202103/Commentary-Small-Cap-Fund-2021-03-31.pdf?c=637552293870000000">Diamond Hill Small Cap Fund</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rgaia.com/wp-content/uploads/2021/04/Q1-2021-Investment-Commentary-FINAL.pdf">RGA Investment Advisors</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q1.pdf?sfvrsn=8">FPA Crescent Fund</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/608c14f248d0480bd46a9f0f/1619793138598/Maran+Partners+Fund+LP+2021+1Q+Letter.pdf">Maran Capital Management</a></td><td width="10%">5/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/608f30c68a421213d86a1fca/1619996870844/Q1+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">5/02/2021</td><td width="40%">$VQSLF</td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/04/Epoch-Quarterly-Newsletter_April-2021.pdf">Epoch Investment Partners</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/04/DKAM-ROE-Reporter-April-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-1Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/04/28/investor-letter-2021-q1/">Tao Value</a></td><td width="10%">5/03/2021</td><td width="40%">$TAL, $FUTU</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6090ae79e8c9d0715bdbb1d2/1620094586126/Q1+2021Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="10%">5/04/2021</td><td width="40%">$SODI $PCOA $DBMG $PCHM $PDRX $RILY $SBNC</td></tr>
<tr><td width="50%"><a href="https://www.palmharbourcapital.com/files/PHC_Q1_2021_Letter.pdf">Palm Harbour Capital</a></td><td width="10%">5/06/2021</td><td width="40%">$SEOAY, $</td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/156KaPykj421-qrzeb22yP2Yr55kdmGc2/view">Andaz Private Investments</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202021%20-%20Final.pdf">Tweedy Browne</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://bluehawkinvestors.com/wp-content/uploads/2021/05/Q1-2021-Investor-Letter.pdf">Blue Hawk Investment Group </a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1620323022969">Miller Income Strategy</a></td><td width="10%">5/06/2021</td><td width="40%">$PBI, $CHS, $VTRS, $GEO</td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1620314382817">Miller Opportunity Equity</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-1Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-1Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdpointlimited.com/wp-content/uploads/2021/05/Third-Point-Q1-2021-Investor-Letter-TPIL.pdf">Third Point</a></td><td width="10%">5/07/2021</td><td width="40%">$UPST, $GRAB, $CSGP</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/7840b0a9-c29d-4f13-a92e-3ab748b62a11/Steel_City_Capital_1Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="10%">5/10/2021</td><td width="40%">$NWSA, $SIGA, $ATEX, $LSYN, $TRUP, $WDFC</td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2021.Q1%20Commentary/2021.Q1%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/crescat-april-investor-letter/">Crestcat Capital</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_05_13.pdf">Myrmikan Research</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/early-days-in-the-value-recovery-commentary/">Pzena Investment Management</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abd98abb-2e75-dd3f-742d-521ce1e13373/050521_Bonhoeffer_Partner_Letter_Q1_2021.pdf">Bonhoeffer Capital Management</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.appleseedfund.com/wp-content/uploads/2021/05/APPLX-Q1-2021-Semi-Annual-Letter.pdf">Appleseed Fund</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Sustainable-Q1-2021-web.pdf">Saturna Capital</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Amana-Q1-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Sextant-Q1-2021-web.pdf">Saturna Capital - Sextant Funds</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://choice-equities.com/wp-content/uploads/2021/05/2021-Q1-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="10%">5/13/2021</td><td width="40%">$BNED, $FARM</td></tr>
<tr><td width="50%"><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2021-partner-letter-oNRTNaLn">Artko Capital</a></td><td width="10%">5/23/2021</td><td width="40%">$HQI</td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/04/2021-03-March-Performance-Update-Public.pdf">LRT Capital</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/">Ariel Trust Funds</a></td><td width="10%">5/23/2021</td><td width="40%">$AXTA, $SNA, $SRCL</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/APFDX-APDDX-APHDX-QCommentary-1Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTLX-APDLX-APHLX-QCommentary-1Q21-vR.pdf">Artisan Value Fund</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/60a80d2db82d4c0854264a21/1621626158448/Bonsai+Partners+Q1+2021+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td width="10%">5/23/2021</td><td width="40%">$RDBBF, $MU, TSYHY, $PHPYF, $LKQ, $TSM, $ILMN</td></tr>
</tbody>
</table>
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<hr /><span style="font-size: large;">4th Quarter 2020</span><br /><hr /><br />
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<th>Fund Name</th>
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<th>Stocks Mentioned</th></tr>
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<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="15%">1/14/2021</td><td width="40%">$NET, $ROKU, $FTCH, $QDEL, $STMP, $ZM</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">1/14/2021</td><td width="40%">$CDNA, $NTRA, $CMD, $STMP, $TNDM, $QDEL</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://p.weebly.com/14123551/0fd3577090/ACML_2020_Q4.pdf">Alphyn Capital Management</a></td><td width="10%">1/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/6010d367849bae794accb740/1611715431638/Q4+2020+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1WotHxQKWf4FdXA4Fz-1oWl9MVCMet2XA/view">Andaz Private Investments</a></td><td width="10%">1/04/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q4-letter-the-leap-of-faith">Andvari Associates</a></td><td width="10%">1/07/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=e596a3f39f">Argosy Investors</a></td><td width="10%">1/12/2021</td><td width="40%">$PINS, $JD, $RP, $SPB, $FTV, $WFC</td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/01/Arisaig-Quarterly-January-2021.pdf">Arisaig Partners</a></td><td width="10%">1/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/APFDX-APDDX-APHDX-QCommentary-4Q20-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTIX-APDIX-APHIX-QCommentary-4Q20-vR.pdf">Artisan International Value Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTMX-APDMX-APHMX-QCommentary-4Q20-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTSX-APDSX-APHSX-QCommentary-4Q20-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$SMMC ($BTRS), $DNLI, $ZNGA, $FROG.</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTLX-APDLX-APHLX-QCommentary-4Q20-vR.pdf">Artisan Value Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://docsend.com/view/ffasrkj3xbcp73rp">Avory & Company</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-12.31.20.pdf">Baron Asset Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$SFIX, $FTCH.</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-12.31.20.pdf">Baron Discovery Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$CDNA, $TPIC, $ALGM, $ESPR, $EBS, $SILK, $FQVTF, $MDEVF, $RRR, $EAR.</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-12.31.20.pdf">Baron FinTech Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$SHOP, $MELI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-12.31.20.pdf">Baron Growth Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$DM</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-12.31.20.pdf">Baron Health Care Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-12.31.20.pdf">Baron Opportunity Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$OPEN, $SFIX, $FTCH</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-12.31.20.pdf">Baron Partners Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-12.31.20_0.pdf">Baron Real Estate Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_12_31_bca_scv_marketcomm_final.pdf">Bernzott Capital Advisors</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/600e93bc3e161e647bf37eb8/1611568060751/2020+Q4.pdf">Blue Tower Asset Management</a></td><td width="10%">1/27/2021</td><td width="40%">$EZPW</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202012.pdf">Bronte Capital</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5fef8b00dac66e1e16b7d4d0/1609534209232/Q42020.pdf">Comus Investments</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://concentratedcompounding.com/2020-annual-letter/">Concentrated Compounding*</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2020/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">1/20/2021</td><td width="40%">$TKAYY, $WMG, $WDAY, $OCPNY.</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2020/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/01/Q4-2020-Letter.pdf">Distillate Capital</a></td><td width="10%">1/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/01/DKAM-ROE-Reporter-January-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/dd77d6a119e511a93e9308144/files/d2f72ae0-8aec-47c9-9e3a-66ec7ebe0d92/Edgebrook_Annual_Letter_2020.01.pdf">Edgebrook Partners</a></td><td width="10%">1/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/01/Epoch-Quarterly-Newsletter_January-2021.pdf">Epoch Investment Partners</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/FE_GV_Annual_Letter_F-CM-GVT-ANNLTR-P-US.pdf">First Eagle Global Value</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20201231.pdf">FMI All Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20201231.pdf">FMI International Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20201231.pdf">FMI Large Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20201231.pdf">FMI Small Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://foragerfunds.com/wp-content/uploads/2021/01/FORAGER-QR_DEC20.pdf">Forager Funds</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2020.pdf?sfvrsn=4">Fundsmith Equity Fund</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/6008b2665bd7e21cbb2aefd0/1611182698327/GCAM+FY+2020+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.goodhavenfunds.com/media/pdfs/2020_AR.pdf">GoodHaven Fund</a></td><td width="10%">1/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/01/Qlet2020-041.pdf">Greenlight Capital</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/01/Greystone-Capital-Q4-2020-Letter.pdf">Greystone Capital Management</a></td><td width="10%">1/16/2021</td><td width="40%">$CHRM, $TRRVF, $LSYN, $USAT, $FREE</td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/01/Q4-20-HCM-Investment-Letter-FINAL.pdf">Headwaters Capital</a></td><td width="10%">1/10/2021</td><td width="40%">$ENTG, $FICO, $INSP</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$FCX, $RJF, $BG, $AAP</td></tr>
<tr><td width="50%"><a href="">Heartland Select Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$THO, $NVT, $CAGDF</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$PAHC, $RILY.</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2020Q4NP.pdf">Hoisington Investment Management</a></td><td width="10%">1/19/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2020.pdf">L1 Capital Long Short Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/600d8da0643aa1698781e02a/1611500960816/Laughing+Water+Capital+YE+2020.pdf">Laughing Water Capital</a></td><td width="10%">1/24/2021</td><td width="40%">$AIMFF, $CDMO, $PAR, $USAT</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/01/2020-12-December-Performance-Update.pdf?utm_source=LRT+Capital+Management&utm_campaign=7b597b9b26-EMAIL_CAMPAIGN_4_27_2019_9_58_COPY_01&utm_medium=email&utm_term=0_8ad2dd2e5c-7b597b9b26-328907381">LRT Capital</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/6009bb1b2d18d542ead573a2/1611250465556/2020.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_c4c58da3cf8940a2a507e31c7543f084.pdf">Merion Road Capital</a></td><td width="10%">1/12/2021</td><td width="40%">$PINS, $FCPT, $FERGY, $MHH, $RMCF, $LNSR</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=3050">Miller/Howard Investments</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1igQ64JuZiJ7IEQllP0u3RyQBJ3_uPJTg/view">MPE Capital</a></td><td width="10%">1/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_01_13.pdf">Myrmikan Research</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.nzscapital.com/news/nzs-capital-q4-2020-update">NZS Capital</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2020/">Oakmark Fund</a></td><td width="10%">1/11/2021</td><td width="40%">$FISV, $KKR</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2020/">Oakmark Select Fund</a></td><td width="10%">1/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2020/">Oakmark Global Fund</a></td><td width="10%">1/11/2021</td><td width="40%">$NVS, $KDP, $LYV, $PINS</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2020/">Oakmark Global Select Fund</a></td><td width="10%">1/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d433d06abf354a039039af0d4933c5f8.pdf">Old West Capital Management</a></td><td width="10%">1/11/2021</td><td width="40%">$WLDBF.</td></tr>
<tr><td width="50%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_84c55e774aac418fa065fb61206be3c1.pdf">Palm Valley Capital Fund</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2020.pdf">Polen Capital - Focus Growth</a></td><td width="10%">1/22/2021</td><td width="40%">$ILMN, $CRM.</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2020.pdf">Polen Capital - Global Growth</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2020.pdf">Polen Capital - International Growth</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/momentum-is-with-value/">Pzena Investment Management</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/e5a21f93-8c76-431c-8ddd-63c0efe24514/December_2020_Investor_Letter_Blind_Spots_vFinal.pdf">Richie Capital Group</a></td><td width="10%">1/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q20_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">1/14/2021</td><td width="40%">$SNAP, $PINS, $BX, $UBER, $EXAS, $LMT, $DXCM.</td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_4Q20_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rvcapital.ch/post/rv-capital-s-2020-letter-to-co-investors-in-the-business-owner-fund?utm_campaign=35210720-6fbf-42de-a744-9fd46d8f3f4e&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="10%">1/15/2021</td><td width="40%">$WORK</td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_dbd7c0662df04a51889bfc17d810d421.pdf">Spree Capital</a></td><td width="10%">1/18/2021</td><td width="40%">$CDLX, $UPWK.</td></tr>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/01/STJ-Adviser-Letter-2020-Q4.pdf">St. James Investment Company </a></td><td width="10%">1/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/51948ad1-0c35-4453-9e43-36915ae8cfec/Steel_City_Capital_4Q_20_Partner_Letter.pdf">Steel City Capital</a></td><td width="10%">1/25/2021</td><td width="40%">$LSYN, $ATEX, $EBAY, $TRUP, $WDFC</td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/2020-Annual-Investor-Letter-.pdf">Summers Value Fund</a></td><td width="10%">1/21/2021</td><td width="40%">$BASI, $ELMD, $MODV</td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/01/20/investor-letter-2020-q4/">Tao Value</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%">$FNMA, $AMH</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%">$LAZ, $SVNDY.</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/600031ce75feee1e320a0c37/1610625487864/Upslope+-+2020Q4+Letter.pdf">Upslope Capital Management</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_63_en.pdf">Vltava Fund</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/01/VVP-Annual-Letter-20.12.31.pdf">Vulcan Value Partners</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_e0367d900f594418b9f80f5332a78da3.pdf">Wedgewood Partners</a></td><td width="10%">1/13/2021</td><td width="40%">$PGR, $SPGI, $TSCI</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637472989640000000">Weitz Hickory Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637472989640000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637472989640000000">Weitz Partners Value Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637472989640000000">Weitz Value Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/4q2020-commentary">Whitebrook Capital</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q4-2020-Review_Final_Approved.pdf">Horizon Kinetics</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-4Q20-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-4Q20-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hardingloevner.com/strategies/international-small-companies-equity/">Harding Loevner International Small Companies Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hardingloevner.com/strategies/global-small-companies-equity/">Harding Loevner Global Small Companies</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q4-2020/">Crestcat Capital</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2020.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2020.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/fourth-quarter-2020-investment-update/?__hstc=3281263.805dd8f22d7941cbc2e047cb71a92ba5.1612067828585.1612067828585.1612067828585.1&__hssc=3281263.13.1612067818999&__hsfp=3642198382">Ensemble Fund</a></td><td width="10%">1/30/2021</td><td width="40%">$RACE, $NVR</td></tr>
</tbody>
</table>
<br /></div><div><br /></div><div><br /></div><div><br /></div><div><span style="font-size: x-large;">3rd Quarter 2020</span></div><div><span style="font-size: x-large;"><br /></span></div><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f91d68ffcf5365a608ae79b/1603393167269/Q3%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($LMB)</li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($PENN, $ZM, $DKNG, $VAPO, $MIDD, $VERX)</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($NTRA, $CYRX, $VEEV, $AYX, $EHTH, $PRO).</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://p.weebly.com/14123551/0e14046f58/acml_2020_q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f9c71c178bf29569ce3e73c/1604088257626/Q3+2020+Alta+Fox+Capital+Quarterly+Letter+-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT)</li><li><a href="https://drive.google.com/file/d/16Z5Ah7ylRfTNtv7_89hvySNkLBs94ymo/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://andvariassociates.com/q3-letter-repeatable-process-and-concentration" target="_blank">Andvari Associates</a> -($GLIBA, $LBRDA, $CSGP, $TYL)</li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/08/APPLX-Q2-2020-Letter-.pdf" target="_blank">Appleseed Fund</a></li><li><a href="https://mailchi.mp/d5669ebd0777/argosy-investors-3q20-letter-5089533" target="_blank">Argosy Investors</a> - ($TIG, $TAP, $XPO, $HEI, $CIGI).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BAP, $FLIR, $NOV, $MTN).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abb0e242-eb67-40d1-883b-ecdfa6b22d71/Arquitos_Investor_Letter_Q3_2020.pdf" target="_blank">Arquitos Capital</a></li><li><a href="https://arisaig.com/wp-content/uploads/2020/10/Arisaig-Quarterly-October-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/3q/APFDX-APDDX-APHDX-QCommentary-3Q20-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTKX-APDKX-MCommentary-0920-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTMX-APDMX-MCommentary-0920-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTSX-APDSX-MCommentary-0920-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTLX-APDLX-MCommentary-0920-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-3q-2020-partner-letter-XOMTVzxR" target="_blank">Artko Capital</a> - ($NTIC, $PBPB, $FTK)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-9.30.20.pdf" target="_blank">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-9.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($PRPL, $VITL, $PACB, $BLI, $AFIB, $MEG, $AEIS).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron FinTech Fund</a> - ($SQ, $NVEI.TO).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-9.30.20.pdf" target="_blank">Baron Growth Fund</a> - ($AMWL).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-9.30.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-9.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-9.30.20_1.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_9_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($SSTK, INOV, $WSC, $EPAY, $SP, $CSOD)</li><li><a href="https://s3.amazonaws.com/bireme/3Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AAADKn6HMQN3RcB_NnJSPUsRa/Black%20Bear%20Value%20Partners%20Q3%202020.pdf?dl=0" target="_blank">Black Bear Value Partners</a> - ($AWI, $AN, $BRK.B, $PSX, $TPL)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f84061d553af93162d867d1/1602487838468/2020+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($BERY)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f90958a0514cc4e0f71e119/1603310986504/Bonsai+Partners+Q3+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($RDBBF, $PHPYF, $MU, $GNSS, $TSM).</li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202009.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf3q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a> - ($CRL, $BFAM, $JKHY, $RP)</li><li><a href="https://browncapital.com/system/files/scf3q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($IRTC, $VEEV, $AYX, $PRO)</li><li><a href="https://browncapital.com/system/files/ief3q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf3q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://drive.google.com/file/d/1a76lPrhT-7Z1kFGOwh1f_w90IPJiAnNE/view" target="_blank">Cartenna Capital</a> - ($FDX, $LAD, $LEA)</li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f85eb7289085d67fca99c88/1602612084148/Q3+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:7abf9ad9-f7fe-4977-813d-f110bc6cd463#pageNum=1" target="_blank">Choice Equities Fund</a> - ($APPS, $PINS, $MGNI, $SIC).</li><li><a href="https://cedcapital.in/wp-content/uploads/2020/10/Quarterly-PMS-Letter-Sep20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5f761584c70e806b3d25af69/1601574277212/Q32020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Hedged)</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Unhedged)</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q3-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5f8770933c746c06627c78af/1602711699235/Q3+2020+Letter.pdf" target="_blank">Curreen Capital</a> - ($CNDT).</li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5fb1cf491cc5cc6622c8d927/1605488457151/Del+Principe+O%27Brien+October+2020+Letter+pdf.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a> - ($BRK.B, $ROP, $DHR, $MC, $ICE)</li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/2eca2e7c-b182-4c14-8b24-b57b0eb9b1e1/2020_Q3_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/10/Q3-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://dmzpartners.in/Documents/Files/DMZ-2103-2Q20-21-Redacted.pdf" target="_blank">DMZ Partners</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/10/DKAM-ROE-Reporter-October-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2020/" target="_blank">Ensemble Fund</a> - ($CMG, $ISRG. $NVR, $BR, $FRC, $NVR).</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/10/16105449/Client-Letter-Q3-2020-FINAL.pdf" target="_blank">Ewing Morris</a> - ($KAI)</li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200930.pdf" target="_blank">FMI All Cap Equity</a> - ($CMCSA, $DLTR).</li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200930.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200930.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200930.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-q3.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NCR, $AGCO, $CNOM, $CNC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q3-final-w-disclosures-and-holdings.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q3%20Commentary/2020.Q3%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f9c6af71e0c5e77d38dbda4/1604086519425/Greenhaven+Road+Letter+%282020+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $KKR, $APPS, $ESTC, $ROKU, $AEYE, $APG, $NLS, $BNED)</li><li><a href="https://www.valuewalk.com/wp-content/uploads/2020/10/Qlet2020-03-1.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.11.01-Q3-Letter-v2.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/11/Greystone-Capital-Q3-2020-Letter.pdf" target="_blank">Greystone Capital Management</a> - ($RICK, $RMNI, $CRAWA, $RSSS, $PW)</li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-3Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-3Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-3Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-3Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q3.pdf" target="_blank">Hayden Capital</a> - ($AFTPF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($HLT, $SPB, $FE, $MHK)</li><li><a href="https://www.heartlandadvisors.com/Products/Strategies/Heartland-Opportunistic-Value-Equity-Strategy/Heartland-Opportunistic-Value-Equity-Strategy-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Opportunistic Value Fund</a> - ($HLT, $CSCO, $BRK.B)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TSC, $OESX ,$PLAB)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SPB, $FCFS, $RL)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q3NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($TPL)</li><li><a href="https://l1international.com/wp-content/uploads/2020/10/09_2020_International_Fund_Quarterly_Report.pdf" target="_blank">L1 International Capital Fund</a></li><li><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2020.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f8c75b4bdc0fc164f836caf/1603040693094/Laughing+Water+Capital+Q3%2720.pdf" target="_blank">Laughing Water Capital</a> - ($USAT, $FREE)</li><li><a href="https://southeasternasset.com/commentary/3q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/10/2020-09-September-Performance-Update-Public.pdf" target="_blank">LRT Capital</a></li><li><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_1bf005a3950242f48eeff54c938130ed.pdf" target="_blank">Luca Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($HON)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0" target="_blank">Madison Investors Fund</a> - ($FB)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0" target="_blank">Madison Mid Cap Fund</a> - ($ANET)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5fa85397ef83d42c47c6bbad/1604866968719/Maran+Partners+Fund+LP+2020+3Q+Letter.pdf" target="_blank">Maran Capital Management</a> - ($FREE, $PCYO, $CLAR)</li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5f91f70b872be4229ca34d82/1603401483222/2020.Q3+Massif+Investor+Client+Letter.pdf" target="_blank">Massif Capital</a></li><li><a href="https://www.mawer.com/learn/mawer-quarterly/third-quarter-2020/" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://www.mclaincap.com/letters" target="_blank">McLain Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_ff943467174a4a2fbef2fb129e71359a.pdf" target="_blank">Merion Road Capital</a> - ($FERGY, $TUESQ)</li><li><a href="https://www.mhinvest.com/download.html?docId=3036" target="_blank">Miller/Howard Investments</a></li><li><a href="https://millervalue.com/deep-value-strategy-3q20-letter/" target="_blank">Miller Value - Deep Value Strategies</a> - ($NBR, $BBBY, $GME, $SIG, $PBI, $ATCO)</li><li><a href="https://millervalue.com/opportunity-equity-3q20-letter/" target="_blank">Miller Value - Opportunity Equity</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a></li><li><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2020_10_13.pdf" target="_blank">Myrmikan Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/10/2020Q3.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($QDEL).</li><li><a href="https://drive.google.com/file/d/1wavRmQCrmYZ0Xr91X-0o7wfgS-oaE48W/view" target="_blank">Nomadic Value</a> - ($UNH, $OHS, $IPOC).</li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2020/" target="_blank">Oakmark Fund</a> - ($CBRE, $KDP)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_16ebf57ec73a4bd8957c37c5ed02890b.pdf" target="_blank">Old West Investment Management</a> - ($LEU)</li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_ebd5d2ddc5a04d9b8a657a03a5115b1f.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($UNH, $ISRG, $CRM, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.rgaia.com/wp-content/uploads/2020/11/Q3-2020-Investment-Commentary-Ignition.pdf" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/0c3c2277-336b-4b40-957b-97b4df6c3b1b/Rhizome_Partners_Q3_2020_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q20.pdf" target="_blank">RiverPark Large Growth</a> - ($PINS, $AAPL, $AMZN, $EXAS, $ISRG, $ILMN, $AMT, $ADSK)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_3Q20.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/11/2020-Q3-Newsletter.pdf" target="_blank">Rowan Street Capital</a> - ($BABA)</li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sustainable-Q3-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Amana-Q3-2020-web.pdf" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sextant-Q3-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://drive.google.com/file/d/1A0s8GKvMy-_xUHbzxDSaN0AEjmwSg_f6/view" target="_blank">Selcouth Capital Management</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=459a37f7-5751-4cfe-9518-f3a1538c959e&Name=Q3_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/ba603bd1-d159-48eb-8ad5-d291db00375b/SilverRingValuePartners_2020Q3_Letter.pdf" target="_blank">Silver Ring Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_706aab945eef4b7088fcb7ee7409a296.pdf" target="_blank">Spree Capital</a> - ($IAC, $ANGI, $PINS)</li><li><a href="https://stjic.com/wp-content/uploads/2020/09/STJIC-Adviser-Letter-2020-Q3.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/13ac1227-dad0-4f2e-9abf-49860419ff60/Steel_City_Capital_3Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a> - ($LSYN, $ATEX. $SATS, $EBAY, $TCP, $TRUP, $HBI, $OLLI)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $ELMD, $PRSC, $ASRT)</li><li><a href="https://taovalue.files.wordpress.com/2020/10/taovalue_2020_q3_final.pdf" target="_blank">Tao Value</a> - ($BEKE, $WORK, $API)</li><li><a href="https://drive.google.com/file/d/1Utxz55Fm5B66CLNOoTYUOktAfFEX5jgq/view" target="_blank">Tidefall Capital Management</a> - ($FB, $NFLX, $MTCH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAREX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FNMA, $CBRE, $AMH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TASCX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($HBB)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAVFX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://thirdpointlimited.com/wp-content/uploads/2020/10/Third-Point-Q3-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AABLnwQSozTE3JKv2sad6Z9fa?dl=0&preview=Tollymore+Q3+2020.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRUP, $FTCH).</li><li><a href="https://www.turtlecreek.ca/wp-content/uploads/2020/10/Turtle-Creek-Quarterly-Commentary-2020-Q3.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202020%20-%20FINAL.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f871d84732ab26ee19d4081/1602690437395/Upslope+-+2020Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($BFAM)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_62_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/10/VVP-Quarterly-Letter-20.09.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f46984994bc44abab0fa9d012fa35da.pdf" target="_blank">Wedgewood Partners</a> - ($FRC, $NVDA, $V, $PYPL)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/3q2020-commentary" target="_blank">White Brook Capital</a> - ($GOOG, $GT)</li><li><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Q3%20Letter%20-%20Worm%20Capital%20-%20October%202020.pdf?utm_medium=email&_hsmi=96979337&_hsenc=p2ANqtz-9c8-1QN7remFXHTROTOZTyb6aD5SohUf2rFfwP8peAv3-Z1XJlW5WJvb4sn6epTXlR7KXK61iVzvAd7ZtR3HHcWBQZvQ&utm_content=96979337&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><span style="font-size: x-large;">2nd Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f1646c5f488c44459f92f6f/1595295430480/Q2%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($HBI)</li><li><a href="https://www.adestella.com/wp-content/uploads/2020/08/Q2-2020-Investor-Letter.pdf" target="_blank">Adestella Investment Management</a> - (WSE:LVC)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/07/Akre-Focus-Fund-Quarterly-Commentary-2020-Q2.pdf" target="_blank">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($QDEL, $DKNG, $MKTX, $INGN, $XPO, $HLIO).</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus</a></li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/07/Alluvial-Capital-Management-Q2-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $LICT, $NUVR, $RWWI, $CRAWA, $PII, $MMAC, $BUKS, $MHGU)</li><li><a href="https://p.weebly.com/14123551/8d9576d761/ACML_2020_Q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f21cdd21a3a007c9039d884/1596050899234/Q2+2020+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT, $NLAB)</li><li><a href="https://drive.google.com/file/d/1tOgr8EbBQL-DFcyuEIteClKQnktt-ioR/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/05/Q1-2020-applx-semi-annual-letter-updated-v2.pdf" target="_blank">Appleseed Fund</a> - ($TPIC).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($JLL, $MSGE, $SWK).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/06/Arisaig-Quarterly-July-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTIX-APDIX-APHIX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTMX-APDMX-APHMX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($PTON, $CHGG, $IEX, $LSCC, $BURL, $ASND).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTSX-APDSX-APHSX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-2q-2020-partner-letter-XzMTMQrb" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/08/2020-08-10-Askeladden-Capital-Q2-2020-Letter-Unkind.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://mcusercontent.com/1299c2986ac5b8b808d25e3db/files/3a2f5125-2747-4c36-90e0-cb882c13bfc0/Avory_Quarterly_Letter_2020_Q3.pdf" target="_blank">Avory&Company</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.20.pdf" target="_blank">Baron Asset Fund</a> - ($ZI)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-6.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($AAT, $CAKE, $FOUR, $AEIS, $CYRX, $NARI).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.20.pdf" target="_blank">Baron Health Care Fund</a> - ($SWAV, $IMMU, $CYRX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-6.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-6.30.30.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.20_0.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-6.30.20.pdf" target="_blank">Baron Small Cap Fund</a> - ($CCH, $AXNX, $KTOS, $AZEK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_6_30_bca_scv_marketcomm_final.pdf?utm_source=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CRNC, $CTLT, $EPAY, $PLOW, $SP, $BV, $SPSC, $TWNK)</li><li><a href="https://bluehawkinvestors.com/q2-2020-investor-letter/" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $EA, $SPLK, $STZ).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f1561892a4010553ea9a4fc/1595236745929/2020+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/c68a1a6b-f4ef-4fa0-a118-538e1f21755d/081020_Bonhoeffer_Partner_Letter_Q2_2020.pdf" target="_blank">Bonhoeffer Fund</a> - ($AM)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f0e14ec768fd51a428a531a/1594758381666/Bonsai+Partners+Q2+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($LKQ, $GNSS, $TSM, $PHPYF)</li><li><a href="https://www.boyarvaluegroup.com/wp-content/uploads/2020/07/2Q_2020_BVGLETTER.pdf" target="_blank">Boyar Group</a></li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202006.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf2q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf2q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/ief2q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f179f71130d4a67c0b7cc14/1595383665773/Q2+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2020/07/2020-Q2-CEF-Investor-Letter-2.pdf" target="_blank">Choice Equities Fund</a> - ($CELH, $APPS, $PINS, $CTRN, $TAST).</li><li><a href="http://choufunds.com/pdf/SEMI-AR%202020%20%28English%29.pdf" target="_blank">Chou Funds</a></li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2020+Q2+Letter.pdf" target="_blank">Coho Capital</a> - ($SPOT)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5efce03ba58d546e2e0f9e2b/1593630780199/Q22020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q2-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://www.docdroid.net/bFfeMjX/david-capital-partners-llc-letter-on-covid-19-2020-q2-pdf" target="_blank">David Capital Partners</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a> - ($COF, $BK).</li><li><a href="https://davisfunds.com/downloads/DGFPMComm.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFPMComm.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5efb340b8974eb3c8fb597aa/1593521163499/Del+Principe+O%27Brien+June+2020+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/fee3146b-2929-4ef2-a438-b026f217bccb/2020_Q2_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://dfdent.com/wp-content/uploads/2020/09/DF-Dent-063020-Annual-Report-FINAL-updated-3.pdf" target="_blank">DF Dent</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200630_Diamond-Hill_Small-Cap-Fund-Commentary-1.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/07/Q2-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/08/DKAM-ROE-Reporter-July-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_c1778ec658b04174856e4169cb505c0c.pdf" target="_blank">Emeth Value Capital</a> - ($BSM)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2020/" target="_blank">Ensemble Fund</a> - ($MASI, $NFLX)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_0.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200630.pdf" target="_blank">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200630.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200630.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200630.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://foragerfunds.com/wp-content/uploads/2020/07/Quarterly-Report_June-2020.pdf" target="_blank">Forager Fund</a> - ($CELH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-06.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q2.pdf?sfvrsn=14" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5f078ab33b43a56a3eb3feae/1594329782036/GCAM+Q2+2020+letter.pdf" target="_blank">Giverny Capital Asset Management</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q2%20Commentary/2020.02%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f1ce3f5ffc2762dc1e36675/1595728886611/Greenhaven+Road+Letter+%282020+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($GOGO, $LE, $IAC, $APPS, $KKR, $ESTC, $PAR)</li><li><a href="https://www.docdroid.net/8aEd6Ge/greenlight-2q20-letter-pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.08.18-Q2-2020-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/07/Greystone-Capital-Letter-H1-2020.pdf" target="_blank">Greystone Capital Management</a> - ($HIL, $RICK, $APG, $TRRVF, $MIXT</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/GE-2Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/IE-2Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-2Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-2Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q2.pdf" target="_blank">Hayden Capital</a> - ($AMZN, $SE)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($AAP, $RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($CNI, RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($MDC, $PLAB, $NFG)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SAH, $CCRN, $PCH)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q2NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Quarterly-Commentary_Q2-2020.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q20.pdf" target="_blank">Horos Asset Management</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/07/2020-Half-Year-JDP-Capital.pdf" target="_blank">JDP Capital</a></li><li><a href="http://investors.l1longshort.com/DownloadFile.axd?file=/Report/ComNews/20200720/02256558.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://l1international.com/wp-content/uploads/2020/07/06-2020-International-Fund-Quarterly-Report.pdf" target="_blank">L1 International Capital Fund</a> <a href="https://www.lrtcapital.com/wp-content/uploads/2020/07/2020-06-June-Performance-Update-Public.pdf" target="_blank">Capital</a></li><li><a href="https://www.docdroid.net/2ExPtjh/lakewood-capital-2020-q2-letter-pdf" target="_blank">Lakewood Capital Management</a> - ($HDS, $NSP, $ATH, $BLDP, $SLP, $SRNE)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f19a4d1e0b9f47a7f5974aa/1595516114278/Laughing+Water+Capital+1H%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/nlml7il3uj1purr/Lightsail%202Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($MMM)</li><li><a href="http://madison%20mid%20cap%20fund/" target="_blank">Madison Investors Fund</a> - ($MMC)</li><li><a href="http://madison%20investors%20fund%20-%20%28%24mmc%29/" target="_blank">Madison Mid Cap Fund</a> - ($IT, $LH, $MC).</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://www.docdroid.net/FGa8ior/maran-partners-fund-lp-2020-q2-letter1582-pdf" target="_blank">Maran Capital Management</a> - ($IAC)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2020/09/MVIP-Strategic-Growth-Commentary-2Q-2020.pdf" target="_blank">Mar Vista Investment Partners</a> - ($APH)</li><li><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202nd%20Quarter%20Letter%20to%20Investors.pdf?utm_medium=email&_hsmi=91107066&_hsenc=p2ANqtz-9LijGwDjSgj8jyqCenBnIBF47dmzsWi3IMjSFYI4FdU7JJBgy3y9ZYV2Hb0dIgRDoabuG10U1l5XThj0OJNeKKIwi9SQ&utm_content=91107066&utm_source=hs_email" target="_blank">Massif Capital</a> - ($HES, $RUN, $GOLD).</li><li><a href="https://www.mawer.com/assets/Newsletters/2Q20-Quarterly-Series-A-Net.pdf" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_aa805187f361412fa7b16ed0918e00e2.pdf" target="_blank">Merion Road Capital</a> - ($TRNS)</li><li><a href="https://millervalue.com/deep-value-strategy-2q20-letter/">Miller Value Fund</a> - ($BBBY, $NBR, $TMHC, $DXC).</li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q2_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a> - ($CRMLF, $CAR, $CCL, $REV, $CPXGF, $AZTEF)</li><li><a href="https://drive.google.com/file/d/1EY3GUJZn0WVXSuQy17mk1W5FYdOqL2Ry/view" target="_blank">MPE Capital</a> - ($WIX, $BRBOF).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/07/2020Q2.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($DOCU).</li><li><a href="https://drive.google.com/file/d/1vccfEmwX4ulExfEIrOE1IOB6uKeMU6QW/view" target="_blank">Nomadic Value Investment Partners</a></li><li><a href="https://www.nzscapital.com/s/NZS-Capital-Q2-2020-Letter.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2020/" target="_blank">Oakmark Fund</a> - ($RGA, $GD, $TMUS)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_a30dcf83719d44bba64d3b6e9f3f4345.pdf" target="_blank">Old West Investment Management</a> - ($FLGT).</li><li><a href="https://www.docdroid.net/bg0gNdv/pabrai-funds-q2-2020-pdf#page=7" target="_blank">Pabrai Funds</a></li><li><a href="https://www.palmvalleycapital.com/fundletter" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growt</a>h</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5f3b4cb88ea6a1347c012598/1597721787995/RF+Capital+Q2+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://www.rgaia.com/q22020-investment-commentary-the-tale-of-two-markets/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/67acd636-2e8e-4ba4-b038-d2c2d5805461/Rhizome_Partners_Q2_2020_Investor_Letter_Final.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q20.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($SNAP, $SHOP, $BILL, $AMZN, $TWLO, $CME, $IQV, $ZTS, $APO, $KKR, $MTN).</li><li><a href="http://riverpark%20large%20growth%20fund%20-%20%28%24snap%2C%20%24pins%2C%20%24uber%2C%20%24shop%2C%20%24bill%2C%20%24dxcm%2C%20%24rng%2C%20%24lmt%29.%20riverpark%20long/Short%20Opportunity%20Fund" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_2Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($BKNG, $BMT, $FB, $FLT)</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/08/Near-Term-Delusions-Long-Term-Collisions.pdf" target="_blank">RLT Capital</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan_Street_Capital_First_Half_2020_Letter.pdf" target="_blank">Rowan Street Capital</a> - ($SPOT)</li><li><a href="https://www.rvcapital.ch/post/co-investor-letter-h1-2020?cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6&utm_campaign=cadf75be-7334-4451-a092-5873c7ac02ac&utm_medium=mail&utm_source=so" target="_blank">RV Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c6eb517f46b24b9d8e9aad440f79ee19.pdf" target="_blank">Saga Partners</a></li><li><a href="https://www.saltlight.co.za/wp-content/uploads/2020/08/SaltLIght-2Q20-Letter-Final.pdf" target="_blank">SaltLight Capital</a> - ($COH.JO, CTK.JO)</li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ce3ae7fe-7fcc-4291-979b-4d30eb11a66a&Name=Q2_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="http://saturna%20capital%20saturna%20capital%20-%20amanafunds%20saturna%20capital%20-%20sextant%20funds/" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/b301205c-52a7-4f24-883c-1f3580537837/SilverRingValuePartners_2020Q2_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_7c247397881f467d9360d21885e78fb4.pdf" target="_blank">Spree Capital</a> - ($STNE, $WIX).</li><li><a href="https://srk-capital.com/content_files/2020/09/SRK-Fund-Q2-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/07/STJIC-Adviser-Letter-2020-Q2-Final.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $BSTC)</li><li><a href="https://taovalue.files.wordpress.com/2020/07/taovalue_2020_q2_final.pdf" target="_blank">Tao Value</a> - ($PDD, $YY, $AVLR, $CIH)</li><li><a href="https://langfrist.de/dokumente/H1_2020_E_Partners_Fund.pdf" target="_blank">TGV Partners Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAREX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TASCX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($WASH, $CKH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAVFX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Value Fund</a> - ($BKRIF, $IFSPF, $LUNMF, $CSFFF).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/08/Third-Point-Q2-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a> - ($BABA, $JD, $AMZN, $DIS, $PUK, $SPGI)</li><li><a href="https://drive.google.com/file/d/1nfnh_0ZD0IGbaB52zeQHGM4ESJTKJ5fQ/view" target="_blank">Tidefall Capital Management</a></li><li><a href="https://www.dropbox.com/sh/bkvnxsr7u27twgu/AABMPqyMuEORLDm6WSyqF7dla/Tollymore%20Q2%202020.pdf?dl=0" target="_blank">Tollymore Investment Partners</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q2.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202020%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f0dd29b6a8632767c30911b/1594741405126/Upslope+-+2020Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($RBA)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_61_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/07/VVP-Quarterly-Letter-20.06.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_a12f91a6fbfb4131afc3d1d848b4ae84.pdf" target="_blank">Wedgewood Partners</a> - ($AAPL, $BKNG, $BMY, $FB, $FLT)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Hickory Fund</a> - ($DLB)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/2q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5f0874ba8817e8400a707586/1594389693251/Quarterly+Letter+-+Q2+2020.pdf?utm_medium=email&_hsmi=91143433&_hsenc=p2ANqtz-8Ko2sOTz4bmQKkH-p3YIfULcolG5rwew-9bA1O9V_uN53WPygN_Q0fFs4scHhjzt3id6F-RguAoCQJ0AJnhDfYRrOHHA&utm_content=91143433&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">1st Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5eb05bb94b525e14b5bea7bc/1588616121738/Q1%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($GMS)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/04/Akre-Focus-Fund-Quarterly-Commentary-2020-Q1.pdf">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($EVBG, $EHTH, $QDEL, $CMD, $HSKA, $TCMD)</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a> - ($AMZN, $NVDA, $NFLX, $CBOE, $FB, $APPL, $V, $MDB).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/04/Alluvial-Capital-Management-Q1-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2020-q1.pdf">Alphyn Capital Management</a> - ($EXXRF, $BAM, $KKR, $BRFRF, $WANSF, $CDAY, $CFX, $OSSIF).</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5eab8f05c455f14a97fbcb32/1588301573873/Q1+2020+Alta+Fox+Capital+Quarterly+Letter-+Final+%281%29.pdf" target="_blank">Alta Fox Capital Management</a> - ($MMMB, $EVVTY, $GMMNF)</li><li><a href="https://drive.google.com/file/d/1y1uNGXNScAjx27rcd6yZf_U6GFWLtmVd/view">Andaz Private Investments</a></li><li><a href="https://ift.tt/2za22cd">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2020/02/APPLX-Q4-2019-Letter.pdf">Appleseed Fund</a> - ($HRTX, $NLY).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/45aea71a-f4d5-4f4b-98c2-44acc7934978/Arquitos_Investor_Letter_Q1_2020.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $SYTE, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($KMT, $NVST, $PGR).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/04/Arisaig-Quarterly-April-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTKX-APDKX-APHKX-QCommentary-1Q20-vR.pdf">Artisan International Value Fund</a> - ($BABA, $TCOM, $SLB, $TS, $SU, $SNE, $DANOY, $CNHI).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTMX-APDMX-APHMX-QCommentary-1Q20-vR.pdf">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTSX-APDSX-APHSX-QCommentary-1Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2020-partner-letter-X7QTZR97" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/04/Coronavirus-The-Cure-Is-Worse-Than-The-Disease.pdf">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.20.pdf">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.20.pdf" target="_blank">Baron Discovery Fund</a> - ($INGN, $QLYS, $FND, $SIEN, $PAR, $TXMD, $EVBG, $KTOS, $PENN, $AXNX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.30_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.2020.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.20.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_3_31_bca_scv_marketcomm_final.pdf" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $MEDP, $SP, $CNK, $PLOW, $CRNC, $TREE, $SERV).</li><li><a href="https://s3.amazonaws.com/bireme/1Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $BKNG, $WFC, $RICK, $KRG)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/04/Investor-Letter-Q1-20-FINAL.pdf">Blue Hawk Investment Group</a> - ($MSFT, $MTCH, $NFLX, $EA, $INTU, $ISRG, $V, $FB, $CHTR, $FND, $STZ, $NYT, $SPLK, $LULU).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e93edd2125a911e469ed339/1586752979541/2020+Q1.pdf">Blue Tower Asset Management</a></li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/762bb2f1-3530-4df8-9178-1acf0c0568f6/0520_Bonhoeffer_Partner_Letter_Q1_2020.pdf" target="_blank">Bonhoeffer Fund</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4595129/1Q_2020_BVG%20Letter.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=87095134&_hsenc=p2ANqtz-8G6GJm2tQ-xl7UIJ2SOoumqTKP4AhC-pkmfW5viIuwNsaxl8CcHOkHkKE0NZfnwUAC6TZZuSUzpyAM76WVz55zUySpCQ&_hsmi=87095134" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf1q20commentary.pdf">Brown Capital Management Mid Company Fund</a> - ($DXCM, $SHOP, $NCLH, $BFAM, $TDOC)</li><li><a href="https://browncapital.com/system/files/scf1q20commentary.pdf">Brown Capital Management Small Company Fund</a> - ($QDEL, $VEEV, $MANH, $PRO, $PLAN, $DDOG, $KIDS, $INCY).</li><li><a href="https://browncapital.com/system/files/ief1q20commentary.pdf">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q20commentary.pdf">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/04/Broyhill-Portfolio-Update-2020.Q1-FINAL.pdf" target="_blank">Broyhill Asset Management</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://cedcapital.in/wp-content/uploads/2020/04/Quarterly-PMS-Letter-Mar20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e85354c10a8a95136c22668/1585788237400/Q12020.pdf">Comus Investments</a></li><li><a href="https://www.crescat.net/wp-content/uploads/Q1-2020.pdf" target="_blank">Crestcat Capital</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/ecf4cd6f-3eb2-4b0c-8efb-1f9d281cfd7f/2020_Q1_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200331_Diamond-Hill_Small-Cap-Fund-Commentary.pdf">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/dcp_1q20_update" target="_blank">Distillate Capital</a></li><li>D<a href="https://mcusercontent.com/90031b83688dd5c83d79fcf31/files/a3202ae7-9dca-471c-94ed-340f07250b85/DKAM_ROE_Reporter_April_2020_.pdf" target="_blank">onville Kent Asset Management</a></li><li><a href="https://www.docdroid.net/kfBxxVh/elliot-letter-april-162020-perspectives-paul-singer-elliott-pdf#page=9">Elliot Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2020/" target="_blank">Ensemble Fund</a></li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2020.pdf">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/04/16115847/Client-Letter-Q1-2020_FINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://ift.tt/2VWR7dz" target="_blank">Firebird Management</a></li><li><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_Gold-Update.pdf" target="_blank">First Eagle Global Fund</a></li><li><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200331.pdf">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200331.pdf">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200331.pdf">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200331.pdf">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-03_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NBL, $VNOM, $ISBC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-update-q1-2020.pdf?sfvrsn=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/2020-3-fef-letter-to-shareholders.pdf?sfvrsn=12">Fundsmith Equity Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5e8f6c4e02b8fa04bead5904/1586457686283/GCAM+initial+letter+2020-03-27.pdf" target="_blank">Giverny Capital Asset Management</a> - ($GOOG, $GOOGL, $KMX, $BRK.B, $PGR, $SCHW, $SSNC, $HEI, $MKL, $ANET)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ea425773459dd34b66cf263/1587815799646/Greenhaven+Road+Letter+%282020+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($SHSP, $APPS, $KKR, $PAR, $KLR, $CSSE, $OPT)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.05.10-Confessions-v3.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4043042/Commentaries/2020.Q1%20Commentary/2020.Q1%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-1Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-1Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q1.pdf" target="_blank">Hayden Capital</a> - ($IBKR, $CVNA)</li><li><a href="http://m.heartlandadvisors.com/mid-cap-value-fund-q1-commentary.pdf" target="_blank">Heartland Mid Cap Value Fund</a> - ($WU, $PXD, $AAP)</li><li><a href="http://m.heartlandadvisors.com/select-value-fund-q1-commentary.pdf" target="_blank">Heartland Select Value Fund</a> - ($GRC, $CALM, $JNJ)</li><li><a href="http://m.heartlandadvisors.com/value-fund-q1-commentary.pdf" target="_blank">Heartland Value Fund</a> - ($MDU, $MDC,$EVTC)</li><li><a href="http://m.heartlandadvisors.com/value-plus-fund-q1-commentary.pdf" target="_blank">Heartland Value Plus Fund</a> - ($IDCC, $HTLD)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q1NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2020-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($BA, $ADM, $CRL, $ICE, $BTC).</li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q20.pdf" target="_blank">Horos Asset Management</a> - ($TGP, $TK, $GLNG, $AER, $NPSNY).</li><li><a href="https://www.dropbox.com/s/nqwe7xcvwjfxysy/Huffman%20Prairie%20-%201Q2020%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/02/2019-Annual-Letter-JDP-Capital-Management.pdf">JDP Capital</a> - ($SPOT, $STNE, $XPO)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5ea5f560592a27104f5c8cf0/1587934561140/Laughing+Water+Capital+Q1%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/ofrydh35bl0xctw/Lightsail%201Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/ltglobal-equity-fund/LTGEF_Latest.pdf">Lindsell Train</a>- ($WWE, $DIS, $DEO, $BF.A, $EBAY, $PYPL, $INTU)</li><li><a href="https://southeasternasset.com/commentary/1q20-llpf-commentary/">Longleaf Partners Fund</a> - ($H, $DD, $CTL, $CNHI, $PK, $CKHUY, $MAT).</li><li><a href="https://southeasternasset.com/commentary/1q20-llgl-commentary/">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llin-commentary/">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/04/2020-03-March-Performance-Update-Public.pdf">LRT Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a> - ($CSL).</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5ea1a3fb6d7e355e7a72a301/1587651580748/Maran+Partners+Fund+LP+2020+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20First%20Quarter%20Letter%20to%20Investors.pdf?utm_source=hs_email&utm_medium=email&utm_content=86138479&_hsenc=p2ANqtz-85M_ZqQO42g6PDwSL7bISxrDZM6OIQj5JzJ9uWzZx5Pf0pU87NtPhlX2MKkKLQ0F5775rJ5yF6-0W92JiA-wFdmFYs5g&_hsmi=86138479">Massif Capital</a></li><li><a href="https://www.mawer.com/assets/Newsletters/1Q20-Quarterly-Series-A-Net-1.pdf">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_b57612e6cdaa48429a600bdfe37560c4.pdf">Merion Road Capital</a> - ($CPRT, $EVBG, $RMCF)</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2020_03.pdf">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2020_03.pdf">Moneta MultiCaps C</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/04/2020Q1.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($GSK)</li><li><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2020/">Oakmark Fund</a> - ($AXP, $MTCH, $PINS, $WDAY)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2020/">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2020/">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d588a8b5d90047478bfcd71d0c8dd0a1.pdf">Old West Investment Management</a></li><li><a href="https://drive.google.com/file/d/1tD5XOGaM8cls4v95DSXFF131OYYpAMxE/view" target="_blank">Open Square Capital</a></li><li><a href="https://www.osam.com/pdfs/research/OSAM%20Update_Blizzard,%20Winter,%20or%20Ice%20Age_FINAL.pdf">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a> - ($AAP, $AGI, $BHE, $CRI, $CASS, $DKS, $EZPW, $GENC, $HCSG, $HP, $SLV, $KELYA, $OR, $SCHL, $SKX, $SP, $SYKE, $UNF, $UG, $WMK).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ABT, $BKNG, $FB, $ORLY, $ADSK, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5ea714f9981de6313a251243/1588008188839/RF+Capital+Q1+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/a591f71a-64ef-4ca1-80dc-2ea2a4646172/Rhizome_Partners_Q1_2020_Investor_Letter_Final.pdf">Rhizome Partners</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/04/Q1-2020-Investment-Commentary-FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($NUAN)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q20.pdf">RiverPark Large Growth Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_1Q20.pdf">RiverPark Long/Short Opportunity Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT, $COST, $APO, $KKR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_1Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($FAST, $KEYS, $MSFT, $ROSS).</li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan-Street-Capital-Q1-2020-Letter-1.pdf" target="_blank">Rowan Street Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_4ad59d00e289448cabcd6a61a130760e.pdf" target="_blank">Saga Partners</a> - ($AYX $CVNA $DBX $FB $LGIH $LIMAF $TTD $TRUP $VSEC $WIX)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q1-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q1-2020-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q1-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://moiglobal.com/wp-content/uploads/Semper-Vic-Partners-L.P.-Letter-to-Investors-April-2020.pdf" target="_blank">Semper Vic Partners</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ee82efca-a8be-4855-b3e0-e3ba3069a318&Name=Q1_2020_-_Investor_Letter">Sequoia Fund</a></li><li><a href="https://smeadcap.com/files/7915/8696/1388/1Q_2020_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://srk-capital.com/content_files/2020/05/SRK-Fund-Q1-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/04/STJIC-Adviser-Letter-2020-Q1.pdf">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ff8c300-0ef4-4034-914b-cbd5c86d581d/Steel_City_Capital_1Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/1Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a></li><li><a href="https://taovalue.files.wordpress.com/2020/05/taovalue_2020_q1_final-1.pdf" target="_blank">Tao Value</a> - ($GILD, $CACC, $ADS, $NXRT, $$BILI)</li><li><a href="https://static1.squarespace.com/static/54ce2abfe4b0513e12ea592f/t/5e886ec613e1233cd43c8cae/1585999558895/Templeton+and+Phillips+Commentary+-+March+2020.pdf">Templeton and Phillips Capital Management</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a> - ($CALM, $CET, $BATRA, $BATRK).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAVFX-Shareholder-Letter-Web.pdf">Third Avenue Value Fund</a> - ($BMWYY, $DB, $IFSPF, $HA, $ORI, $FDX, $VNO)</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/04/Third-Point-Q1-2020-Investor-Letter-TPOI-1.pdf" target="_blank">Third Point</a></li><li><a href="https://drive.google.com/file/d/1jshHJg_zQ30ZvmrU8iBTIBX9zE6CDtdo/view" target="_blank">Tidefall Capital Management</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q1.pdf">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202020%20-%20Final.pdf">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e99e67f7f671d105bf293af/1587144320124/Upslope+-+2020Q1+Letter.pdf" target="_blank">Upslope Capital Management</a></li><li><a href="https://www.docdroid.net/q7NxMcX/universa-investments-q1-2020-letter-pdf#page=6">Universa Investments</a></li><li><a href="https://mcusercontent.com/2686100c548ffa2b413d5cb29/files/3cb819ec-c2d9-4ff5-870b-cc86b4d93fbd/Vltava_Fund_Letter_to_Shareholders_Q1_2020.pdf">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/04/VVP-Quarterly-Letter-20.03.31.pdf">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q1-2020-REV-FNL.pdf">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200406/pdf/44gqxsc6q8zjdy.pdf">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f47cdae028142f1ade840f42986ab09.pdf">Wedgewood Partners</a> - ($FAST, $FB, $KEYS, $MSFT, $ROSS, $NVDA, $EA, $BKNG, $EW).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/1q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://mcusercontent.com/d194e1b3fd218137abdb074da/files/90c79ff7-93d3-49ac-9da6-1f1ea8209ae0/2020_04_16_White_Crane_Q1_2020_Letter.pdf">White Crane Capital</a></li><li><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/securepdfs/2020/04/23094734/Wolf-Hill-Q1-2020-Letter.pdf" target="_blank">Wolf Hill Capital</a> - ($HGV, $MIDD)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5ea1a3a3bc77342600cf7649/1587651493472/Worm+Capital+-+Q1+2020+Investor+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><span style="font-size: large;"><br /></span><span style="font-size: large;">4th Quarter 2019</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5e35af9e12c5156ca6085326/1580576670740/Q4%2719+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($ISDR, $RICK, $TSSI, $DPZ)</li><li><a href="https://drive.google.com/file/d/1ANcyf36aA9H83xfjYF3N5Z6Rc2YaS75q/view" target="_blank">2Point2 Capital</a></li><li><a href="https://gallery.mailchimp.com/f6660ee7c7b25c0643c0e8337/files/53f90575-0084-456e-b563-3e47282ae860/Admiral_Cap_4Q19_Letter.pdf">Admiral Capital Partners Fund</a> - ($CVNA, $GDDY, $GTT).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/01/Alluvial-Capital-Management-Q4-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $CRAWA, $BUKS, $NUVR, $LICT)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5e3633d4cd5a0d4354e18334/1580610521595/Q4+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q4.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://drive.google.com/file/d/1OSNsquPrryvmnAYEPpfK8VMGtb5qSILE/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://ift.tt/2TwwgOx" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($ARDX, $SAVE, $MOS, $SINA, $SNE, $RYAAY).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Funds</a> - ($CCL, $NLSN).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/APFDX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTMX-APDMX-APHMX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($SWKS, $TW, $CMS, $UA, $ABMD, $ZS, $BURL, $AMD, $ANET, $SERV, $DXCM).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTSX-APDSX-APHSX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTLX-APDLX-APHLX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2019-partner-letter-w57TvkLz" target="_blank">Artko Capital</a> - ($MO, $REPH, $GAIA, $RSSS)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/02/2020-02-17-Askeladden-Capital-Q4-2019-Letter-Breaking-Bad.pdf">Askeladden Capital</a></li><li><a href="https://content.rwbaird.com/RWB/Content/PDF/AssetManagement/Q3-2019-Mid-Cap-Growth-Mutual-Fund-Commentary.pdf">Baird MidCap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Asset Fund</a> - ($DXCM, $SAGE).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Discovery Fund</a> - ($PGNY, $ESPR, $SIEN, $SITE, $ICHR, $TXMD, $MRCY, $FSCT, $TCMD, $SCPPF, $OLLI, $BRP, $CDNA).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%2012.31.19_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Real%20Estate%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="http://www.bernzott.com/uploads/1/5/9/5/15953620/2019_12_31_bca_scv_marketcomm.pdf?utm_source=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $PLOW, $LOGM, $MG, $MIK, $CNK, $CTLT, $EPAM, $AGS).</li><li><a href="https://s3.amazonaws.com/bireme/4Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a> - ($KRG, $DNKN)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/01/Q4-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e2e81226ba9076709046053/1580106019545/2019+Q4.pdf" target="_blank">Blue Tower Asset Management</a></li><li><a href="http://boyarvaluegroup.com/bvg-pdf/4Q_2019_BoyarResearch.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=82628381&_hsenc=p2ANqtz-_eFJS4AvVpyZPJ93cqx7hT_a3Ecgy_iQ8I_KJWvq6pyI5hY8KWOrRF3lJXq2wgq7vsVrrVKm3ExXWqv88qtB2prmxWqg&_hsmi=82628381" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf4q19commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf4q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($VEEV, $GKOS, $TNDM, $SMAR).</li><li><a href="https://browncapital.com/system/files/ief4q19commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf4q19commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/02/The-Broyhill-Letter-2020.02-FINAL.pdf">Broyhill Asset Management</a></li><li><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2020/01/bumbershoot-holdings-2020-1-jan-letter-to-partners-2019-1.pdf" target="_blank">Bumbershoot Holdings</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://citronfund.com/wp-content/uploads/2020/01/Citron-Capital-Annual-Investor-Letter-for-2019.pdf" target="_blank">Citron Capital</a> - ($RH, $PTON).</li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2019+Q4+Letter.pdf">Coho Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e181bff65c626738a349429/1578638336674/FY2019.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($YUMC, $FRRVF, $PTC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5e3048cf9826d330d5c2854e/1580222671293/Q4+and+YE+2019+Letter.pdf" target="_blank">Curreen Capital</a></li><li><a href="https://danwang.co/2019-letter/" target="_blank">Dan Wang</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a>.</li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFAnnualReview.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYVFPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Midcap-Letter-4Q19.pdf" target="_blank">DF Dent Midcap Growth</a> - ($ODFL, $TWLO, $VEEV, $ANSS, $MCO, $CBRE, $VRSK, $VMC, $MKL).</li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Small-Cap-Letter-4Q19.pdf" target="_blank">DF Dent Small Cap Growth</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/191231_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/90031b83688dd5c83d79fcf31/files/48eecab4-b7af-4d56-8e05-f3d54f33d10f/DKAM_ROE_Reporter_January_2020_.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://www.nsx.com.au/ftp/news/021737727.PDF" target="_blank">East 72 Holdings</a></li><li><a href="https://gallery.mailchimp.com/dd77d6a119e511a93e9308144/files/98e445bf-1c22-4a23-8a6b-1d71d798899f/Edgebrook_Mid_Year_Letter_2019.pdf" target="_blank">Edgebrook Partners</a> - ($APEUF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2019/" target="_blank">Ensemble Fund</a> - ($PAYX, $BR)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2019.pdf">Evermore Global Value Fund</a> - ($IAC, $MTCH, $ANGI, $STNG, $KRA, $ENZ).</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15183252/Q4-2019-Broadview-Dark-Horse-Quarterly-Letter.pdf" target="_blank">Ewing Morris Dark Horse</a> - ($LQSIF)</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15170401/Q4-2019-Final-1.pdf" target="_blank">Ewing Morris Opportunities Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-12_final.pdf?sfvrsn=8">FPA Capital Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2019.pdf?sfvrsn=6" target="_blank">Fundsmith Equity Fund</a></li><li><a href="http://gatorcapital.com/wp-content/uploads/2020/01/GFP-Q4-Investor-Letter-Updated.pdf" target="_blank">Gator Capital Management</a></li><li><a href="http://www.givernycapital.com/en/doc/236/Giverny_Capital_-_Annual_Letter_2019_web_.pdf">Giverny Capital</a></li><li><a href="http://www.goodhavenfunds.com/media/pdfs/2019_AR.pdf" target="_blank">GoodHaven Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5e4703048934db2c06ec56ae/1581712134756/Greenhaven+Road+Letter+%282019+Q4%29.pdf">Greenhaven Road Capital</a></li><li><a href="https://www.scribd.com/document/443770600/Greenlight-Q4-2019#download&from_embed" target="_blank">Greenlight Capital</a> - ($AER, $AGO, $ATC, $BHF, $CC, $GM, $GRBK, $NFLX, $DXC).</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.01.23-Q4-Letter-v5.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-4Q19-Report.pdf">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2019/IE-4Q19-Report.pdf">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2019/ISC-4Q19-Report.pdf">Harding Loevner International Small Companies Equity</a> - ($GUZOF, $ALICORC1, $PGENY).</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-4Q19-Report.pdf">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q4.pdf">Hayden Capital</a> - ($SE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($LEG, $EXC, $UMBF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SCHW, $GTS, $CONE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TBBK, $AMRC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($ASB, $PAHC)</li><li><a href="http://www.hgcinvest.com/wp-content/uploads/2020/01/HGC-Arb-Letter-December-2019.pdf" target="_blank">HGC Investment Management</a> - ($GSAC, $DEAC).</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2019Q4NP.pdf">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q4-2019-Horizon-Kinetics-Commentary_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q19.pdf">Horos Asset Management</a></li><li><a href="https://www.dropbox.com/s/wj5xngs5dpjc0la/Huffman%20Prairie%20-%202H2019%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a> - ($PKE)</li><li><a href="https://l1international.com/wp-content/uploads/2020/01/L1-Capital-International-Fund-Quarterly-2019-12.pdf" target="_blank">L1 Capital International Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5e3b0e94a8e0ad4a457d4a5e/1580928660765/Laughing+Water+Capital+YE+2019.pdf">Laughing Water Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/lt-uk-fund/2019/LTUK_MR_2019_12.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5e33310f6cac3d0b6f0a070d/1580413200079/4Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $CTEK, $SFE, $PESI)</li><li><a href="https://southeasternasset.com/commentary/4q19-llpf-commentary/">Longleaf Partners Fund</a></li><li><a href="https://www.lyricalam.com/wp-content/uploads/2020/01/LAM-2019-Review-letter.pdf" target="_blank">Lyrical Asset Management</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5e323c32f8043d0750f9a1f1/1580350515744/Maran+Partners+Fund+LP+2019+Q4+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RNGR, $SDI).</li><li><a href="https://www.mcmadvisors.com/wp-content/uploads/2020/01/Martin-Capital-Management-2019-Annual-Report.pdf" target="_blank">Martin Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Year%20End%20Letter.pdf?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-8wWAtvLCSJ92jhQUdjS_UF5sLUTcGZPdtnlxPMJfKIFGmlgVgnj1U2Yj9GHeBoCbudkm9l" target="_blank">Massif Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_4b6d6eb57e724504b2acd6925fe444a6.pdf" target="_blank">Merion Road Capital</a> - ($TTWO, $ODP)</li><li><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf">Miller Value Fund</a> - ($FTCH, $ET, $CDEV).</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2019_12.pdf" target="_blank">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2019_12.pdf" target="_blank">Moneta MultiCaps C</a></li><li><a href="https://drive.google.com/file/d/1HXfARV-D0Ty0LjixHFdMQc9keEOyV3XN/view" target="_blank">MPE Capital</a> - ($CACC).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/01/2019-Nelson-Roberts-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($IBM)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Fourth-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_1eee8738221f439bacc164cda1472ccf.pdf">Old West Investment Management</a> - ($GOLD)</li><li><a href="https://www.osam.com/pdfs/research/Q4%202019%20Investor%20Letter%20-%20FINAL.pdf" target="_blank">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmharbourcapital.com/files/PHC%20Q4%202019%20Letter.pdf" target="_blank">Palm Harbour Capital</a></li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_7f7cfd9362f1496597164ec1ee5a1757.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/dab30c88-52e6-425d-94a0-2f672f543d3f/4Q19%20Parnassus%20Core%20Equity%20Fund%20Commentary.pdf">Parnassus Core Equity Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/fc4897bd-50cb-43fb-9296-bddb814716c6/4Q19%20Parnassus%20Mid%20Cap%20Fund%20Commentary.pdf">Parnassus Mid Cap Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $CRM, $ABT, $NOW, $ORCL).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Global Growth</a> - ($MSFT, $BABA, $ABT)</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5e66d8317891847c6cd48c38/1583798321575/RF+Capital+Q4+2019+Investor+Letter.pdf">RF Capital Management</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/01/2019-Year-End-Commentary_FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($ANGI, $DBX, $GRUB, $TWTR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($AAPL, $UNH, $BX, $MSFT, $ADSK, $SDC, $TWTR, $NOC, $TDC, $TWLO).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_4Q19.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_4Q19_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/01/Dont-Cha-Know.pdf" target="_blank">RLT Capital</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Fund.pdf">RMB Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Small-Cap-Fund.pdf">RMB Small Cap Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-SMID-Cap-Fund.pdf">RMB SMID Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/aaf68a26-7a10-4c45-bfe1-fb0cb97b85d1/Saber_Investment_Fund_Q4_2019_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c69e35b055894d1aad827cde8423bc2f.pdf">Saga Partners</a> - ($TTD, $LIMAF, $FB, $LGIH, $VSEC, $CVNA)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q4-2019-web.pdf">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q4-2019-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q4-2019-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://static.fmgsuite.com/media/documents/c388840b-3dda-41da-a062-077bf785255b.pdf">Semper Augustus</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=7a947f03-c188-49d6-b32f-9cddfe5ebb9a&Name=Q4_2019_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://gallery.mailchimp.com/57cdfc490b101d54b70128c06/files/a813a300-8f68-43cb-8b3d-2fa28aed58fb/SilverRingValuePartners_2019Q4_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/files/9315/7910/2122/4Q_2019_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://www.socialcapital.com/annual-letters/2019.pdf">Social Capital</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_d91d278701ba4b21afd564ffabb36d1f.pdf" target="_blank">Spree Capital</a> - ($RST, $MTCH, $FERGY).</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2019-Annual-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($TARO, $EGRX, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2020/02/taovalue_2019_q4_final.pdf">Tao Value</a></li><li><a href="https://www.langfrist.de/dokumente/2019_e_Rubicon_full.pdf" target="_blank">TGV Rubicon Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($GPOR.L, $HHC, $PSA, $VNO, $SRG, $FPH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BMWYY, $DB, $MAC).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/01/Third-Point-Q4-2019-Letter-TPOI-Final.pdf" target="_blank">Third Point</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2019-Q4.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://mcusercontent.com/2506bda6ca9a8b7ce8b3c54b4/files/0c17bc16-6a20-4c24-8459-53e800315fe7/TARF_2019_Annual_Commentary_vFinal.pdf" target="_blank">Tyro Capital Management</a> - ($MO, $REPH, $SKY, $SMCI, $MTCH, $UBSFF, $BXC, $MYOV)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e209a872cfe3e653d0bd4bd/1579195017065/Upslope+-+2019Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FOCS, $DLTR)</li><li><a href="https://www.dropbox.com/s/lgqbpo4oownzo5m/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q4%202019%20%28V1.1%29.pdf?dl=0&utm_source=The+Vilas+Fund%2C+LP&utm_campaign=d48e03b6f7-4Q2019+Main&utm_medium=email&utm_term=0_d81d32d2af-d48e03b6f7-431110445" target="_blank">Vilas Fund</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_58_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200108/pdf/44d49tnm31r1hz.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_b41d00a2669749f4babb2c468e820ecd.pdf" target="_blank">Wedgewood Partners</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners III Opportunity Fund</a> - ($SIRI, $LSXMB, $EVREF).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/ds32xz73grnzqbxdargxzancsg91q7it" target="_blank">White Brook Capital</a></li><li><a href="https://gallery.mailchimp.com/d194e1b3fd218137abdb074da/files/a8558333-dad0-40c8-8abd-8468fb20e0f9/2020_01_21_WCMSF_Q4_2019_Letter.pdf" target="_blank">White Crane Capital</a></li><li><a href="https://www.docdroid.net/tJT1NRd/wolf-hill-2019-year-end-letter.pdf" target="_blank">Wolf Hill Capital</a> - ($CNR, $REGI, $WTSHF)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5e1d007471426f2f29068da4/1578958966239/Worm+Capital+2019+Year+End+Letter.pdf" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">3rd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/10/Alluvial-Capital-Management-Q3-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $LICT, $NUVR, $APTL, $NORSA, $PIOE, $MHGU, $ITD.IM, $EDAC.IM, $SIO.IM)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5db8fdd21b54db1101ac3c18/1572404691231/Q3+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($KRMD, $KYYWF, $STKS)</li><li><a href="https://www.docdroid.net/I8sosdq/andaz-notes-2019-09-30.pdf" target="_blank">Andaz Private Investments</a> - (CBS.B, $VIAB)</li><li><a href="https://ift.tt/35Tb1KD" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($SINA, $WB, $MOS, $SAVE, $ARDX, $SNE, $RYAAY)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/eb95b5c5-e141-4f87-b0d5-95d5e1a7a2a5/Arquitos_Investor_Letter_Q3_2019.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BX, $BWA, $DIFTY, $ZBH)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTMX-APDMX-APHMX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($ALXN, $EXAS, $GDI, $GWRE, $CTLT, $BURL, $PAGS, $LHX, $ANET, $ASND)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTSX-APDSX-APHSX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-3q-2019-partner-letter-EvrTnLGB" target="_blank">Artko Capital</a> - ($FTK, $LEAF, $SKY, $USAT, $EEI, $SPAR)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/11/2019-10-28-Askeladden-Capital-Q3-2019-Letter-Earn-It.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Asset Fund</a> - ($CCC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Discovery Fund</a> - ($TXMD, $FND, $TREX, $MRCY, $KNSL $VRAY, $SILK, $BE, $CDNA, $TPIC, $MDLA, $PING, $WMS, $VRNS, $INGN)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Investor%20-%20Baron%20Small%20Cap%20Fund%203Q19.pdf" target="_blank">Baron Small Cap Fund</a> - ($CDAY, $CCC, $COLD)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $SP, $PLOW, $OI, $AGS, $QUOT,$ CTLT, $EPAM, $KN, $CLDR, $AGS, $GNRC)</li><li><a href="https://s3.amazonaws.com/bireme/3Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $COKE)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/10/Q3-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($SFIX, $GRUB, $MTCH, $NFLX)<span id="goog_146329209"></span><a href="https://www.blogger.com/"></a><span id="goog_146329210"></span></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5dad22ac218aa17443c4035b/1571627692663/2019+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2d3eecc8-c31e-45c7-8c24-e0e1a8269ac3/1019_BCM__Partner_Letter_Q3_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $CAMB.LN)</li><li><a href="https://browncapital.com/system/files/scf3q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($TYL, $MANH, $ABMD, $INGN)</li><li><a href="https://browncapital.com/system/files/mcf3q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a> - ($EW, $TYL, $ALGN, $ULTA, $MKTX, $CRL, $JBHT)</li><li><a href="https://browncapital.com/system/files/ief3q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a> - ($CZMWF, $ESLOY, $QGEN, $IPSEF, $MONOY)</li><li><a href="https://browncapital.com/system/files/iscf3q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/10/2019-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> ($RUBI, $BXC, $HOME, $QMCO)</li><li><a href="https://drive.google.com/file/d/1jzHBEfehpV9TfzwFhiGl91UMVtnGwWjS/view">Compound Everyday Capital</a></li><li><a href="https://gallery.mailchimp.com/a6cd0be2415ea775a57718587/files/14809e7f-2f16-4cb8-8fb3-8c589f63c6ed/50._Q3_2019.pdf" target="_blank">Compound Money Fund</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5db88acf71786e4ef3228683/1572375248129/2019Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($IPGLF, $NVST, $A, $FRC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5da0d2a16603d478b62581b4/1570820769906/Q3+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($GTX, $KTB, $MFGP, $BLD)</li><li><a href="https://davisfunds.com/downloads/DFFInterview.pdf" target="_blank">Davis Financial Fund</a></li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a> - ($JD, $AMAT)</li><li><a href="https://davisfunds.com/document/read/DNYPMComm" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/bf83181f-b69f-4ece-a640-a4007c15ed07/Q3_2019_Investor_Letter_Desert_Lion_Capital.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/190930_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/10/E72-Quarterly-Report-Sept-2019.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $DTLA, $FFXDF, $VULC, $PICO)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2019/" target="_blank">Ensemble Fund</a> - ($MA, $TIF)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2019.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2019/10/07164955/Quarterly-Update-Q3-2019.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/funds/shrpt/ann_shrpt_093019.pdf" target="_blank">Fiduciary Management FMI Large Cap</a> - ($HDS)</li><li><a href="https://t.co/3lQBLZ89rY?amp=1" target="_blank">Firebird Management</a> - ($LNC, $GES)</li><li><a href="https://focusedcompounding.com/wp-content/uploads/2017/06/Q3_2019_Letter_to_Clients-1.pdf" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI, $TPHS, $KEWL, $MLP)</li><li><a href="https://www.asx.com.au/asxpdf/20191011/pdf/449dftp5k138nd.pdf" target="_blank">Forager Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2019-q3b0f6f4531b0367849d6cff0000f7084a.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-09.pdf?sfvrsn=8" target="_blank">FPA Capital Fund</a> - ($AMBA, $NBL, $DAN, $IDCC)</li><li><a href="http://gatorcapital.com/wp-content/uploads/2019/10/GFP-Q3-Investor-Letter.pdf" target="_blank">Gator Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5daa7eaeab96a61181bef76f/1571454639744/Greenhaven+Road+Letter+%282019+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($NTDOY, $CSSE, $KKR, $BXC, $APPS, $PAR, $SHSP, $GIGRT, $GIGWS)</li><li><a href="https://www.docdroid.net/hM7Tnw8/qlet2019-032.pdf" target="_blank">Greenlight Capital</a> - ($NFLX, $TSLA, $CC)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.11.14-Q3-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://ift.tt/34FFgn5" target="_blank">Goehring & Rozencwajg</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q3.pdf" target="_blank">Hayden Capital</a> - ($CACC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a></li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SAFM, $MHK, $CVS)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($VST, $LNDC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a></li><li><a href="https://www.docdroid.net/pCmtahr/hellerhouseopportunityfund-2019q2letter-public.pdf#page=17" target="_blank">Heller House Opportunity Fund</a> - ($SHOP $WORK $ROKU)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://www.dropbox.com/s/l24e3ilw0j2kkyq/Lightsail%203Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/investment-insights/2019/Are%20You%20Experienced%20-%20November%202019.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5db9dbd123316d682a695a20/1572461522295/3Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $PSSR, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/3q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CTL, $GOOG, $GOOGL, $CMCSA, $GE, $FDX, $FRFHF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5db9f8173907823b364ebba8/1572468760093/Maran+Partners+Fund+LP+2019+Q3+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RCMT)</li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Third%20Quarter%20Letter%20to%20Investors.pdf" target="_blank">Massif Capital</a> - ($DO, $TOO, $EAF, $DE, $UNP, $CSX, $NCLH)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_adb2e39184484fd5a9374a1b8ddad5fe.pdf" target="_blank">Merion Road Capital</a> - ($HXL, $IAA, $TRNS)</li><li><a href="https://www.hvst.com/organization/meson-capital-partners-llc/posts/meson-q3-update-man-vs-machine-wPZT3xZx" target="_blank">Meson Capital</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2019Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/10/2019-Q3-Nelson-Roberts-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($SIVB, $SCHW, $AKAM, $PFE, $DLR)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Third-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a> - ($GOOG, $CHTR, $DDAIF, $APA)</li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_fe35b044b6f9420aa65670c4b7dfbf7f.pdf" target="_blank">Old West Investment Management</a></li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_2044e47207184e0a96223be92f96d4b5.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.B, $CRD/B, $GENC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $IT, $MSCI)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a> - ($ALGN, $ABT, $SGSOY)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a> - ($TREX, $FND, $LMAT, $FOXF, $OLLI, $TREE, $APPF, $ALTR)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://files.constantcontact.com/07cbbb80601/d7746d56-0340-44ba-b2d3-fb41d43a159a.pdf" target="_blank">Rangeley Capital</a> - ($CHTR)</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5db930e3f152967e525fbd89/1572417764733/RF+Capital+Q3+Letter+2019.pdf" target="_blank">RF Capital Management</a> - ($FL, $GAPFF, $ZAGG, $GME, $GTX)</li><li><a href="http://www.rgaia.com/q32019-investment-commentary-kambi/" target="_blank">RGA Investment Advisors</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($GOOG, $BX, $AAPL, $NOC, $EQIX, $EXAS, $ALGN, $AMZN, $SDC, $ULTA, $TWLO)</li><li><a href="http://www.rmbcap.com/files/RMB_Core_Equity_-_Investor_Letter_3Q19.pdf" target="_blank">RMB Core Equity Fund</a></li><li><a href="https://themarketplunger.com/2019/11/12/q3-2019-letters/" target="_blank">Rockvue Capital</a> - ($UAA, $FOX)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/4d8542a4-48be-4664-bc79-6506621e8100/Saber_Investment_Fund_Q3_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_7f9545a28a0a48129a7920980b5b2f27.pdf" target="_blank">Saga Partners</a> - ($VSEC)</li><li><a href="https://sevencanyonsadvisors.com/resources/seven-canyons-world-innovators-quarterly-commentary/" target="_blank">Seven Canyons World Innovators</a></li><li><a href="https://docs.wixstatic.com/ugd/de07f6_0c03e7d62d824ca98a96fa974471a7fb.pdf" target="_blank">Spree Capital</a> - ($CFX, $CARS)</li><li><a href="https://srk-capital.com/content_files/2019/11/SRK-Fund-Q3-2019.pdf" target="_blank">SRK Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($SLGD, $BSTC, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2019/10/taovalue_2019_q3_final.pdf" target="_blank">Tao Value</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/11/2019-Q3-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($CLNY, $GWW, $HNGKY)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CTB, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2019/10/Third-Point-Q3-2019-Letter-TPOI-.pdf" target="_blank">Third Point Offshore Fund</a> - ($ESLOY, $SNE)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5da981abd30f37336bb612b3/1571389868322/Tollymore+letter+Sep+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($GRUB)</li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Fund</a> - ($KRNTY, $FOX $FOXA, $TBABF, $BIDU)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5da09b01c80d065ebaf8d703/1570806531156/Upslope+-+2019Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($IT)</li><li><a href="https://www.dropbox.com/s/vsrenaad14f2bxa/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q3%202019%20%28Final%29.pdf?dl=0&utm_source=Website+Signup+-+Vilas+Capital+Management%2C+LLC&utm_campaign=8004c87a9b-3Q2019+Ltr_Web&utm_medium=email&utm_term=0_0fbdf27fc5-8004c87a9b-431098533" target="_blank">Vilas Capital</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_57_en.pdf" target="_blank">Vltava Fund</a> - ($BRK.A, $BRK.B, $SBRCY, $BMWYY)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_03b9a051772a4b9792c849ed7f74150a.pdf" target="_blank">Wedgewood Partners</a> - ($CDW, BRK.B, $NVDA, $ULTA)</li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/3Q19_Value%20Matters.pdf?1572140971546" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/4giogadrnt294d6q8t3a4awtxhrkjmjh" target="_blank">White Brook Capital</a> - ($BOX, $GRPN)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5db752012422566f6f7f86a4/1572295170818/Q3+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><div><br /></div></div><span style="font-size: large;">2nd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/07/Alluvial-Capital-Management-Q2-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $NUVR, $MMAC, $RAMPF, $CLWY, $CMLS, $FTR)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5d3a2ee5c694120001688a00/1564094184541/Q2+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($PAYS, $KWS, $NTDOY)</li><li><a href="https://www.dropbox.com/s/19lcbm48spw3g9c/Andvari-2019q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MLAB, $UPLD, $APPN, $BL, $WDAY, $TYL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/08/APPLX-Q2-2019.pdf" target="_blank">Appleseed Fund</a> - ($CRTO, $SINA)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAZ, $TAP, $MTSC)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/6b4ee586-4e8c-4044-a1be-d9f30c4f9e34/Arquitos_Investor_Letter_Q2_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTMX-APDMX-APHMX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTSX-APDSX-APHSX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-2q-2019-partner-letter-EvrTnmKZ" target="_blank">Artko Capital</a> - ($CCNI, $JYNT, $WFCW, $FLL, $NRCGW)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/07/2019-06-29-Askeladden-Capital-Q2-2019-Letter-Askeladden-Reloaded.pdf" target="_blank">Askeladden Capital</a> - ($FC, $AER, $DLTH, $LGIH, $SFM, LQDT)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $IDXX, $SSNC, $BNFT, $IRDM, $FDS, $ACGL, $RRR, $TWOU, $CVET, $ADPT, $ALEC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $ACGL, $CHH, TSLA, $BNFT, $MANU)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($IDXX, $JBT, $SITE, $TTD, $BFAM, $GTT, $RRR, $CISN, $PRA, $CVET, $TREX)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_6_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $GNRC, $BV, $CLDR, $SSTK, $MIK, $EPAM, $SNPS, $LOGM, $INOV, $CARB, $MINI)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-2q19-quarterly-letter" target="_blank">Bireme Capital</a></li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/07/Q2-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $GRUB, $TRIP)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5d350ce2e13121000110246f/1563757795868/2019+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($CNR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/8ef5fe82-9246-4fdd-afb3-8bb4681ebb8b/0719_BCM_Partner_Letter_Q2_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $GTN)</li><li><a href="https://browncapital.com/system/files/scf2q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf2q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief2q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/07/2019-Q2-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($DEST, $BXC, $PAR)</li><li><a href="https://www.docdroid.net/IereKR2/coho-capital-2019-q2-letter.pdf" target="_blank">Coho Capital</a> - ($GDDY)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5d1909fa11a9570001ea18c8/1561922043505/2019Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FISV, $FRRVY, $FRRVF, $TTNDY)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5d2fbf4e8b4dd7000199603e/1563410254409/Q2+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($KTB)</li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/5fd3b3ea-7001-4c07-8d63-f95d455af921/Q2_2019_Desert_Lion_Capital_Letter.02.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/07/E72-Quarterly-Report-June-2019.pdf" target="_blank">East 72 Holdings</a> - ($AFTPF, $ADS)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2019/" target="_blank">Ensemble Fund</a> - ($BR, $SBUX, $FAST, $FRC, $GOOG)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($DIS, $BORR, $STING)</li><li><a href="https://www.ewingmorris.com/wp-content/uploads/2019/07/Q2-2019-Letter-vFINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2019/iso_lc_20190630.pdf" target="_blank">Fiduciary Management FMI Large Cap</a></li><li><a href="http://ift.tt/2lCHEK9" target="_blank">Firebird Management</a> - ($BV, $KSS)</li><li><a href="http://bit.ly/2IVHtCO" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q2-2019.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-06_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5d44bf055832920001fa4381/1564786438422/Greenhaven+Road+Letter+%282019+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($KKR, $APPS, $PAR, $SHSP, $ETSY, $NTDOY)</li><li><a href="https://www.docdroid.net/nGef9ZE/greenlightq2letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.08.19-Q2-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q2.pdf" target="_blank">Hayden Capital</a> - ($CMPR, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($RDN, $VST, $CALX)</li><li><a href="https://www.dropbox.com/s/5nuv7dwl1ciblrv/Lightsail%202Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5d46e8a04cbc950001226b6c/1564928160433/2Q19+letter.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $DAIO, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/2q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CMCSA, $GE, $AMG, $CTL, $HCMLY\$HCMLF, $CHKGF, $CNHI, $FDX, $MAT, $CNX) - ($CBLLF, $DE)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5d3b26b6b5cb710001c505e5/1564157623654/Maran+Partners+Fund+LP+2019+Q2+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $WLK, $BXC, $SVIN, $BH)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2019/07/MVIP-2Q19-Letter-FINAL.pdf" target="_blank">Mar Vista Investment Partners</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5d2dd3b02daa030001a79d58/1563284400621/Massif+Capital+Second+Quarter+Letter+to+Investors.pdf" target="_blank">Massif Capital</a> - ($CBLLF, $DE)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_109a2c968fa84fa2afd22765e9af9374.pdf" target="_blank">Merion Road Capital</a> - ($IAA, $KAR, $MHH)</li><li><a href="https://www.brookvine.com.au/wp-content/uploads/2019Q2_Mittleman-Global-Value-Equity-Fund_Qtrly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/13kJJaxTuFCpNSOGStboGQFTDcl6ywMQq/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q2-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ROP, $DLR, $PFE) </li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_704bd79f605041f3920f5f06d726faf1.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.A\$CRD.B, $CWGL, $NGS, $WMK, $UG, PTVCA\PTVCB, $AE, $DOX, $SCHL, $GENC)</li><li><a href="https://pershingsquareholdings.com/wp-content/uploads/2019/08/2019-Semiannual-Financials-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q2-2019-investment-commentary/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://gallery.mailchimp.com/bca5bc00638aa58b6cada7fab/files/3f913a70-cf19-4e27-8a1c-42a613be3200/Rhizome_Partners_Q2_2019_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($ADBE, $AMZN, $FIVE, $ISRG, $GOOG\$GOOGL, $FB, $AAPL, $BX, $EXAS, $MSFT, $DIS, $PANW, $TDC, $ADSK, $COG)</li><li><a href="https://themarketplunger.com/2019/08/10/2q-2019-letter/" target="_blank">Rockvue Capital</a> - ($EAF, $TH, $UAA)</li><li><a href="https://www.rvcapital.ch/wp-content/uploads/2019/08/Co-Investor_Letter_H1_2019-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/a676b819-a092-4246-8284-74178e0a6fa9/SIF_2019_07_19_Investor_Letter.04.pdf" target="_blank">Saber Capital Management</a> - ($FB, $WFC)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_cee76b8ab55c40bcbc31421f7759ca6f.pdf" target="_blank">Saga Partners</a> - ($TTD, $LIMAF, $FB, $TRUP, $UA)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_58cdbf3f06da4d9b9bfc3dfba3366371.pdf" target="_blank">Spree Capital</a> - ($CVET, $BB, $QCOM)</li><li><a href="https://assets.empirefinancialresearch.com/uploads/2019/07/EFD-7-1-Stanphyl-Capital-Letter-June-2019.pdf" target="_blank">Stanphyl Capital Management</a> - ($TSLA, $AVNW, $WSTL)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $BSTC, $ELMD)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5d1b720139ab94000119388b/1562079747536/Tollymore+letter+June+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($BID)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5d2cb4770f60db0001b4a56c/1563210872722/Upslope+-+2019Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FLIR, $HGV, $COKE, $PACK)</li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_56_en.pdf" target="_blank">Vltava Fund</a> - ($AN)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_d88728c47e5442b9aa1f1d731c89ef5b.pdf" target="_blank">Wedgewood Partners</a> - ($ALC, $BRK.B, $SCHW, $CTSH, $EA, $MSI, $ODFL)</li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1570807813238" target="_blank">Weitz Value Fund</a></li></ul></div><br /><span style="font-size: large;">1st Quarter 2019</span><br /><br /><div><ul><li><a href="https://gallery.mailchimp.com/b5aa12c5c889b46c0f8288f6d/files/a791ca4e-e5b2-4a25-b606-0d1d6c95f384/Alluvial_Capital_Management_Q1_2019_Letter_to_Partners_04.22.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $APTL, $IEHC, $HICKA)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7b8f29e3a8d0001860027/1556592883034/Q1+2019+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL - $PAYS, $JYNT, $RMBL, $STKS). <a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7baa5eb39310fecbc7bdf/1556593318315/Alta+Fox+STKS+Long+4.28.19.pdf" target="_blank">Full Pitch</a> on $STKS)</li><li><a href="https://www.dropbox.com/s/rax170rmix70bir/Andvari-2019q1-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($UPLD, $TLRA, $WDAY, $V, $MA, $TYL, $MKL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/05/2019-APPLX-semi-annual-letter.pdf" target="_blank">Appleseed Fund</a> - ($SKM, $ERJ)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($AXE, $KMX, $ZBRA)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/680d1b4b-376f-4a4a-9324-af9ff3abe4dd/Arquitos_Investor_Letter_Q1_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2019-partner-letter-wy9TLMel" target="_blank">Artko Capital</a> - ($REPH, $NRCGW, $GAIA, $EEI, $LEAF)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%203.31.19.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $SSNC, $IRDM, $ANSS, $NEOG)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $H, $IRDM, $GWRE, $TSLA, $BNFT, $CHH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%203.31.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($TTD, $TDG, $FND, $GWRE, $HUD, $OEC, $PRTY, $BJRI, $CCC, $OSW, $CCX.U)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAM, $SSTK,$VRNT, $MIK, $QUOT, $MG, $BV)</li><li><a href="https://bluehawkinvestors.com/q1-2019-investor-letter/" target="_blank">Bluehawk Investors</a> - ($MTCH, $FND)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-1q19-quarterly-letter" target="_blank">Bireme Capital</a> - ($AAPL, $BKNG)</li><li><a href="https://browncapital.com/system/files/scf1q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf1q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief1q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/05/2019-Q1-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $USX)</li><li><a href="https://drive.google.com/file/d/1YUpNRWvSGBBLMymAbEXUoOCqFON2ENEJ/view">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ca171d41905f4c611b9202c/1554084308682/2019Q1letter.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SHMZF, $APH, $FRRVY, $FRRVF, $DHR, BAM, $SAPIF)</li><li><a href="https://www.nsx.com.au/ftp/news/021736732.PDF" target="_blank">East 72 Holdings</a> - ($ING, $MKL, $Y)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2019/" target="_blank">Ensemble Fund</a> - ($LSTR, $GOOG, $GOOGL)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($BDRBF, $KRA)</li><li><a href="https://t.co/YPShTxBhfj" target="_blank">Ewing Morris</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-2019-q1.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-03.pdf?sfvrsn=6" target="_blank">FPA Capital Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5cc366e74442bb0001c72482/1556309735923/Greenhaven+Letter+%282019+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $APPS, $KKR, $ETSY, $SHSP, $BOX, $EVI, $FCAU, $CSSE)</li><li><a href="https://www.docdroid.net/H7KPSVZ/greenlight-capital-q1-2019.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.05.23-Q1-Letter-Building-Gamma.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-1Q19-Report.pdf" target="_blank">Harding Loevner Global Small Cap Equities</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-1Q19-Report.pdf" target="_blank">Harding Loevner Global Equities</a> - ($KHC, $NSRGY, $LYFT, $WBC, $VRTX)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($BRY, $ARAY, $NWPX, $CCS, $FSLR)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q1.pdf?utm_source=Hayden+Capital&utm_campaign=fc6ae8918e-EMAIL_CAMPAIGN_2019_05_12&utm_medium=email&utm_term=0_aae4c81ce6-fc6ae8918e-103558831" target="_blank">Hayden Capital</a> - ($SE, $ZLPSF)</li><li><a href="http://www.horancm.com/sites/default/files/users/horancm/Portfolio%20Activity%201Q2019.pdf" target="_blank">Horan Capital Management</a> - ($MTN, $ATVI, $BKNG, $AAPL, $THO, $TCEHY, $GOOG, $FB)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($K, $PEP, $NFLX, $AMZN, $TPL)</li><li><a href="https://jdpcap.com/wp-content/uploads/2019/05/1Q-2019-Presentation-.pdf" target="_blank">JDP Capital Management</a> - ($XPO, $TK, $SPOT)</li><li><a href="https://www.docdroid.net/3VOAy5K/laughing-water-capital-q1-2019.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/1brj1hqavl9r08n/Lightsail%201Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a> - ($DRTTF)</li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5caf96756e9a7f50f6f03ec5/1555011190189/1Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $EVI, $CTEK)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/1Q19-Longleaf-Partners-Commentary.pdf" target="_blank">Longleaf Partners Fund</a> - ($GE, $MAT, $WYNN, $CTL, $HCMLY, $CHKGF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5cbdecde53450adb9a30dde5/1555950815790/Maran+Partners+Fund+LP+2019+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5cb5d9ccf9619acd0cf39f4e/1555421645754/Massif+Capital+First+Qtr+2019+Letter+to+Investors.pdf" target="_blank">Massif Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_b0cee1afd831423facf7f964eeada115.pdf" target="_blank">Merion Road Capital</a> - ($FCPT, $SLGG)</li><li><a href="https://www.docdroid.net/ostq4If/2019-q1-midwood-q1-2019-investor-letter.pdf" target="_blank">Midwood Capital Partners</a> - ($NXST, $DRTTF, $RCM, $LMB, $REPH)</li><li><a href="https://millervalue.com/bill-miller-1q-2019-market-letter/?dtr" target="_blank">Miller Value Partners</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q1-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($HD)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0319.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://assets.pershingsquareholdings.com/2019/05/17082807/Pershing-Square-Holdings-Ltd.-Q1-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a> - ($ADP, $QSR, $LOW, $SBUX, $HLT, $UTX, $HHC, $FNMA, $FMCC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q12019-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($GRUB)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/24185410-368c-44bd-a930-4a9d92e88bf9/SIF_2019_04_20_Investor_Letter.pdf" target="_blank">Saber Capital Management</a> - ($AAPL. $FB, $TCEHY)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_28dd8002fdf344a382a093d989c5b0f5.pdf" target="_blank">Saga Partners</a> - ($TRUP)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_21e9c90b285a4116ae4312cc1bb1bdbd.pdf" target="_blank">Spree Capital</a> - ($ROKU, $FTDR, $EBAY, $ALRM, $ZAYO)</li><li><a href="https://www.docdroid.net/QBav0xn/summers-value-partners-1q19-investor-letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $CVET, $SLGD, $ELAN, $KHTRF)</li><li><a href="https://mailchi.mp/ltfunds/templeton-and-phillips-investment-commentary-1q19-india" target="_blank">Templeton and Phillips Capital Management</a> - ($FFXDF, $HDB)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5cdd1d38e79c70fa76c315b2/1557994809354/Tollymore+letter+May+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRIP, $SE)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAREX-1Q19-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($INTU.L, $NWHM, $JBGS)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TASCX-1Q19-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($AGX)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAVFX-1Q19-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCC, $TDW, $EXP, $MHK)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5cb8894071c10b5b67e05353/1555597643395/Upslope+-+2019Q1+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($ATR, $YETI, $BLD)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1557519727747" target="_blank">Weitz Investment</a><span id="goog_1812407177"></span><a href="https://www.blogger.com/"></a><span id="goog_1812407178"></span> - <a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/Analyst%20Corner_CarMax.pdf?1557519727747" target="_blank">An Introduction to CarMax, Inc.</a> - $KMX</li></ul></div><br /><br /><span style="font-size: large;">4th Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5c509321f950b7176a5db508/1548784418298/Q4+2018+Alta+Fox+Capital+Quarterly+Letter+Final.docx.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/01/Alluvial_Capital_Management_Q4_2018_Letter_to_Partners_01.24.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $MMAC, $RAMPF, $AMNF)</li><li><a href="https://www.dropbox.com/s/53g8vs2pt3cpv4o/Andvari-2018q4-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MA, $TYL)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/" target="_blank">Ariel Funds</a> - ($ATGE, $AMG, $KN)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/9d0f05b1-9864-4bfe-84ff-d97cd237714e/Arquitos_Investor_Letter_Q4_2018.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2018-partner-letter-wnLTNPM6" target="_blank">Artko Capital</a> - ($JYNT, $SMED, $AFCN, $USAT, $PRIXQ, $SPAR)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%2012.31.18_3.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_12_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($HRC, $TRS, $CLH, $SSTK, $CMP, $CTLT, $EPAY, $MEDP, $ELY, $MIK, $MG, $SRCL)</li><li><a href="https://choice-equities.com/wp-content/uploads/2019/02/2018-Q4-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $DEST, $UA, $CMG)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5c2ca3e0aa4a995f08caea24/1546429409931/FY2018.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($BAM, $PTC, $SIRI, $PYPL, $HEI)</li><li><a href="http://east72.com.au/wp-content/uploads/2019/01/E72-Quarterly-Report-Dec-2018.pdf" target="_blank">East 72 Holdings</a> - ($AER, $EXXRF, $VIRT)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2018/" target="_blank">Ensemble Fund</a> - ($SCHW, $ST)</li><li><a href="https://www.evansandpartners.com.au/sites/default/files/InternationalFundQuarterly_December2018.pdf" target="_blank">Evans and Partners International Fund</a> - ($SKFOF, $RELX, $MMM, $GOOG, $V, $ADDYY, $AON)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/fpa-capital-fund-annual-report_03-31-19_web-ready.pdf?sfvrsn=4" target="_blank">FPA Capital Fund - Annual Report</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/crescent-fund-annual-report-web-ready-(12-31-18).pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2018.pdf" target="_blank">Fundsmith Equity Funds</a> - ($PM, $FB, $SBUX, $MSFT) - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="http://www.goodwoodfunds.com/wp-content/uploads/Goodwood-Annual-Report-2018.pdf" target="_blank">Goodwood Funds</a> - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5c4bc50842bfc120277fb927/1548469513395/Greenhaven+2018+Q4+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $KKR, $YELP, $BOX)</li><li><a href="https://drive.google.com/file/d/1W8cHASX6-hodil8f2KsnZdbWwkERXCjw/view" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.01.15-Q4-2018-Letter-vFinal.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q4.pdf" target="_blank">Hayden Capital</a> - ($MPNGF, $CVNA, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS, $NWPX, $ARAY)</li><li><a href="https://static1.squarespace.com/static/59a07c7b7131a5b68981e4d5/t/5cc7c1aaf56535000156ba28/1556595115918/Lightsail+2Q+2018+Letter.pdf" target="_blank">Lightsail Capital management</a> - ($DRTTF)</li><li><a href="https://www.valuewalk.com/2019/02/mittleman-brothers-4q18-clear-media/" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/1TmrJPz9OlvLmGBSiADH7ggUOs544pllr/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/01/Nelson-Roberts-2018-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ZTS)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_1218.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/2018-year-end-investment-commentary-easy-come-easy-go/" target="_blank">RGA Investment Advisors</a> - ($ROKU, $CGNX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/Co-Investor_Letter_2018-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_ae6d4d06c60344d8b7971326501d9b65.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LGIH, $FB)</li><li><a href="https://drive.google.com/file/d/1YKnOvM33MFTIEO_rnU9ZmOBQczTSqLd0/view" target="_blank">Sebids Capital</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAREX-4Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($DLN.L, $WY, $ZION, $PNC Warrants)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TASCX-4Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CUBI, $MYRG, $ATNI)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAVFX-4Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($DWDP, $DDAIF, $ANFGF)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5c3cb0b540ec9ab9b9fd10f0/1547481270127/Tollymore+letter+December+2018.pdf" target="_blank">Tollymore Investment Partners</a> - ($UHAL, $GYM.LN, $ITEGY, $TRIP, $TRUP)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5c38b8cb4fa51a28ba9f70a0/1547221197096/Upslope+-+2018Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($EVR, $BLD, $JE.LN, $DLTR, $KWR, $YETI, $MKTX, $TSLA)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global</a></li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/4Q18_Value%20Matters.pdf?1557519727747" target="_blank">Weitz Investment</a></li><li><a href="http://wiedowercapital.com/files/Letter2018.pdf" target="_blank">Wiedower Capital</a> - ($TRUP, $JD, $ISDR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/33abc1df-abe9-49a8-aef3-cc6058c2948d/WOSF_Partner_Letter_January_22_2019.pdf" target="_blank">Willow Oak Select Fund</a> - ($BEL)</li></ul><br /><br /><div><span style="font-size: large;">3rd Quarter 2018</span></div><br /><div style="font-family: "times new roman"; margin: 0px;"><div style="font-family: "Times New Roman";"><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5bc79a54eef1a1e334de4634/1539807830450/Q3+2018+Alta+Fox+Capital+Quarterly+Letter+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($XPEL, $TPNL, $UWN)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q3-2018-Letter-to-Partners-10.29.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $OTEL, $MMAC, $CTRA, $BXC, $RAMPF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-3q-2018-partner-letter-X34TP2Oe" target="_blank">Artko Capital</a> - ($TWNKW, $RSSS)</li><li><a href="https://www.baronfunds.com/sites/default/files/Quarterly%20Report%209.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $SSTK, $MIK, $PLOW, $GNTX, $OI, $APAM, $QUOT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/11/2018-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($LAWS, $BECN, $BXC, $YELP, $DEST)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5bb318fa15fcc0a9cd511971/1538463995185/2018Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FTV, $FERGY, $CCF, $ROP, $FRC, $AMADY, $CMCSA, $SIRI, $AON)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2018/" target="_blank">Ensemble Fund</a> - ($TRUP, $BKNG)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5be1e3a60e2e72c05e5cdd4b/1541530534947/Greenhaven+Road+-+2018+Q3+Final_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $TRIP, $YELP, $EVI, $BOX)</li><li><a href="https://www.docdroid.net/MfMnIs3/greenlight-capital-q3-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.10.10-Q3-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TRIP, $TI)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q3.pdf" target="_blank">Hayden Capital</a> - ($MKL, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TLRY, $BRY, $SRCI, $AXAS, $CCS)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/3Q18-Longleaf-Partners-Funds-Shareholder-Letter.pdf" target="_blank">Longleaf Partners Fund</a> - ($CTL, $BEL, $OCINF)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0918.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/U.S.%20Small%20Company%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/q32018-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($PYPL, $WBA)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_890d215dee47497ba91e2a46ad7aa95a.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAREX-3Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($BKG.L, $JBGS, $CHKGF)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/11/TASCX-3Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $ASIX, $MYRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAVFX-3Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($TDW, $CHKGF, $BZZFF, $DB)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5bc894958165f5a62a1e5c6a/1539871893976/Upslope+-+2018Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($CWH, $TSLA, $MKTX)</li></ul></div></div><div style="font-family: "times new roman"; margin: 0px;"><br /></div><br /><span style="font-size: large;">2nd Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5b57bd2988251bd8777d5ee0/1532476738546/Q2+2018+Alta+Fox+Capital+Quarterly+Letter.docx.pdf" target="_blank">Alta Fox Capital Management</a> - (T$PNL, $XPLT)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q2-2018-Letter-to-Partners-7.20.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $SCOO, $NUVR, $MMAC)</li><li><a href="https://www.dropbox.com/s/ga6p199nuv30j9i/Andvari-2018q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($TTD, $APPN, $TCEHY, $MKTX, $GOOG)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAKE, $TISI, $TGNA)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-2q-2018-partner-letter-wARTJpDv" target="_blank">Artko Capital</a> - ($EEI, $ROSEW/ROSEU, $WFCF, $FRD)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%206.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_6_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $KN, $OI, $APAM, $CNK, $PLOW, $MIK, $CSOD, $EXLS)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/464760b7-cb8c-4974-98ae-c9ff09e5f2c8/0718_BCM_Partner_Letter_Q2_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($KT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/08/2018-Q2-CEF-Investor-Letter_WEBSITE-PDF.pdf" target="_blank">Choice Equities Fund</a> - ($CMG, $REED, $BECN)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5b38349e2b6a280422fa91ba/1530410142957/2018Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SAPIF, $TTNDY, $MKSI, $CMCSA, $PNR, $CIGI, $BAX, $SPGI)</li><li><a href="http://east72.com.au/wp-content/uploads/2018/07/E72-Quarterly-Report-June-2018.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $UCPLF, $ELFIF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2018/" target="_blank">Ensemble Fund</a> - ($LB, $PBH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q2-letter_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://gatorcapital.com/wp-content/uploads/2018/07/20180723-GFP-2018-Q2-Letter.pdf" target="_blank">Gator Capital Management</a> - ($AMP)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5b5b790daa4a9904b4e75eb0/1532721421547/Greenhaven+%282018+Q2%29_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $YELP, $CSSE)</li><li><a href="https://www.docdroid.net/xz9WkeV/greenlight-capital-q2-2018-letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.07.18-Q2-2018-Letter-v2.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TI)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS)</li><li><a href="https://www.docdroid.net/KyxH0f8/laughing-water-capital-h118.pdf" target="_blank">Laughing Water Capital</a> - ($EZPW, $FCAU, $CDMO, $CWH, $RMNI/$RMNIW)</li><li><a href="https://www.docdroid.net/PctUQHa/maran-partners-fund-lp-2018-2q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $LOV)</li><li><a href="https://drive.google.com/file/d/1n2UY-hQd8QEPzidhsQFL2lyeBngGsdPw/view" target="_blank">MPE Capital</a></li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0618.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/US-Small-Company-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/08/Q2-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($EQIX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2018/07/Co-Investor_Letter_H1_2018-EN.pdf" target="_blank">RV Capital</a> - (AddLife, PSG Group)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_6b3f18269c334631a75ac584d4276af6.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAREX-2Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FPH, $LEN)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TASCX-2Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAVFX-2Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCTPF, $KKWFF, $BCAUY, $HA</li><li><a href="http://wiedowercapital.com/files/Letter1H18.pdf" target="_blank">Wiedower Capital</a> - ($JD)</li></ul><br /><div><br /><span style="font-size: large;">1st Quarter 2018</span><br /><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q1-2018-Letter-to-Partners-4.23.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $OTEL, $LICT, $MMAC $BXC)</li><li><a href="https://www.docdroid.net/90TaM6T/arquitos-investor-letter-q1-2018.pdf" target="_blank">Arquitos Capital Management</a> - ($SYTE, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-1q-2018-partner-letter-wPZT33Kb" target="_blank">Artko Capital</a> - ($HTM, $GAIA, $HDSN, $SKY)</li><li><a href="https://doc.morningstar.com/Document/a444b3ab802f4a0c076025c4dee1cd5a.msdoc/original?clientid=globaldocuments&key=52dbc583e1012395" target="_blank">Ariel Funds</a> - ($KEYS, $MHK, $OAK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $ELY, $EPAY, $CMP, $MIK, $MG)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2249ec23-e80d-46a8-9f65-846264852383/0418__BCM_Partner_Letter_Q1_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TI, $TOO)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ada7a78575d1f52aa6e679d/1524267640733/2018Q1.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SPGI, $CME, $CMCSA, $SPB)</li><li><a href="https://www.docdroid.net/S613L8e/1q-2018-dane-investor-letter.pdf" target="_blank">Dane Capital Management</a> - ($DSKE, $IEA, $LAZY, $LMB, $YTRA, $EVI)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2018/" target="_blank">Ensemble Fund</a> - ($NFLX, $DNOW)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q1-letter_vfinal.pdf#page=2" target="_blank">FPA Capital Fund</a> - ($WDC, $TEN, $ALGT)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q1-2018-vfinal.pdf#page=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ae7bf98f950b7272142f5c2/1525137305236/Greenhaven+2018+Q1+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $BXC)</li><li><a href="https://www.docdroid.net/K95Fju3/greenlight-capital-q1-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.05.11-Q1-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $RYCEY, $VIVHY)</li><li><a href="https://www.docdroid.net/81jd56q/laughing-water-capital-q1-2018.pdf" target="_blank">Laughing Water Capital</a> - ($BXC, $OCN, $TRC, $GHL, $ITI, $GAIA)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Documents/1Q18-Longleaf-Partners-Quarterly-Summary-Report-All-Funds.pdf" target="_blank">Longleaf Partners</a></li><li><a href="https://www.docdroid.net/eFTaTcE/maran-partners-fund-lp-2018-1q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $IAC, $ATTO)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0318.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/05/Q1-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($DIS, $RAMP)</li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q18.pdf" target="_blank">RiverPark Large Growth Fund</a></li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rpfvf/commentary/RiverPark_Focused_Value_1Q18_SH_Letter.pdf" target="_blank">RiverPark Focused Value Fund</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_64caf8ca6a264972923df8b202415b9a.pdf" target="_blank">Saga Partners</a> - ($ESI, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAREX-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($AKR, $SRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TASCX-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($FRPH, $WEDXF. $SMHI)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAVFX-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BDRLF, $KKWFF, $BMWYY)</li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2018/04/VVP-Quarterly-Commentary-18.03.31.pdf" target="_blank">Vulcan Value Partners</a></li></ul></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-46938033301471630932021-01-30T23:03:00.018-05:002021-10-09T14:54:17.414-04:00<p> <span style="font-size: large;">Updating with 3rd quarter letters. Have fun reading.</span></p>
<hr /><span style="font-size: large;">3rd Quarter 2021</span><br /><hr /><br /><div><br /></div><div><br /></div><div>
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<tr><td width="48%"><a href="http://east72.com.au/wp-content/uploads/2021/10/QUARTERLY-REPORT-September-2021-WEB.pdf">East72 Holdings</a></td><td width="13%">10/08/2021</td><td width="39%">$ANSLY, $APPEF, $BOWX, $FRPH, $MAC, $LLC.AX</td></tr>
<tr><td width="48%"><a href="https://www.vltavafund.com/data/dopisy/dopis_67_en.pdf">Vltava Fund</a></td><td width="13%">10/08/2021</td><td width="39%">$WLTW</td></tr>
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<hr /><span style="font-size: large;">2nd Quarter 2021</span><br /><hr /><br />
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<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/07/STJIC-Adviser-Letter-2021-Q2-Final.pdf">St. James Investment Company </a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://east72.com.au/wp-content/uploads/2021/07/QUARTERLY-REPORT-June-2021-WEB.pdf">East72 Holdings</a></td><td width="10%">7/14/2021</td><td width="40%">$NAM.AX, $SZL.AX</td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_65_en.pdf">Vltava Fund</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/07/HCM-Q2-21-Investor-Letter.pdf">Headwaters Capital</a></td><td width="10%">7/14/2021</td><td width="40%">$ABCM</td></tr>
<tr><td width="50%"><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2021-q2.pdf">Alphyn Capital Management</a></td><td width="10%">7/14/2021</td><td width="40%">$CRSS, $VMEO</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/60e104d88cf4a87ec6121191/1625359578136/Q22021.pdf">Comus Investments</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210630.pdf">FMI All Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210630.pdf">FMI International Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210630.pdf">FMI Large Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210630.pdf">FMI Small Cap Equity</a></td><td width="10%">7/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_a7010caa73484aa79860d446dfa072a3.pdf">Wedgewood Partners</a></td><td width="10%">7/14/2021</td><td width="40%">$CDW, $CPRT, $TSM</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">7/15/2021</td><td width="40%">$PROSY, $0200.HK</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/2q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">7/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_8c46c9c6e9d44d60a516d5174bda2794.pdf">Palm Valley Capital Fund</a></td><td width="10%">7/15/2021</td><td width="40%">$COG, $VWTR</td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/17j-cxhXk7CoZMnur9D3PlEstPJoENtoL/view">MPE Capital</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/60c24f91684d920cb6097d4e/t/60eef4cdf2ccfc444305a495/1626272975590/Worm+Capital+-+Q2+2021+Letter.pdf?utm_medium=email&_hsmi=140441214&_hsenc=p2ANqtz-8vBjMBZwyJR_miVrb6tu4LVmeAcMcRMU8xdNYgyNu-KeNGt9qPTyZaf3IvsTwE__LIbUSRxAbF9cgwLhcKJEe38NWRBw&utm_content=140441214&utm_source=hs_email">Worm Capital</a></td><td width="10%">7/17/2021</td><td width="40%">$ABNB, $SHOP, $TSLA</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/37ed0e4e-201e-3501-874f-69ad3236db36/June_2021_Investor_Letter_There_s_a_Playbook_for_That.pdf">Richie Capital Group</a></td><td width="10%">7/17/2021</td><td width="40%">$INS, $MKTX, $VMD, $TTD, $ADBE</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-june-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q2-letter-latent-value">Andvari Associates</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_2Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$NET, $BSY, $HUBS, $DKNG, $MGNI, $DISCK</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$PGNY, $CLB, $FSV, $EAR, $CHGG, $NEO</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%">$STRS, $FNMA</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2021/07/2Q-2021-Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_afba319ad48349ba9cf0f4bc1b4a9e21.pdf">Old West Capital Management</a></td><td width="10%">7/17/2021</td><td width="40%">$RFL, $URPTF</td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/07/Q2-2021-Letter.pdf">Distillate Capital</a></td><td width="10%">7/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.nelsoncapitalmgmt.com/wp-content/uploads/2021/07/2021-Q2-Nelson-Capital-Quarterly-Commentary.pdf">Nelson Capital</a></td><td width="10%">7/18/2021</td><td width="40%">$BKNG</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.21.pdf">Baron Health Care Fund</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.21.pdf">Baron Real Estate Fund</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$PPG, $FCFS, $DGX</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$MNR, $PDCO, $BBBY</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">7/18/2021</td><td width="40%">$DRQ, $AVNS, $FCFS</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ca38f3216b6405d11e3d4b4/t/60ec92eef91837287388095f/1626116847850/NZS+Capital+Q2+2021+Letter.pdf">NZS Capital</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202Q2021%20Letter%20to%20Investors.pdf?__hstc=85836102.15f20432e0ea5dec955a13ff3d6a419d.1626639822446.1626639822446.1626639822446.1&__hssc=85836102.2.1626639822448&__hsfp=430853256&hsCtaTracking=58fc37ba-5f5d-410d-b210-865e3d2529e2%7C48fcdb2e-21a4-4454-83b8-dc7e654a0bcf">Massif Capital</a></td><td width="10%">7/18/2021</td><td width="40%">$ADMLF, $EQX, $AOIFF, $EQNR</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=2249">Miller/Howard Investments</a></td><td width="10%">7/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$AFL</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$BD, $DLTR, $PCAR, $PGR</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$CNNE, $PCAR</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_06_30_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="10%">7/20/2021</td><td width="40%">$ADTN, $ATSG, $GVA, $JRVR</td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/2q2021-commentary">Whitebrook Capital</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_8d85a47df4ac4bb28f307921fcd64961.pdf">Merion Road Capital</a></td><td width="10%">7/20/2021</td><td width="40%">$FLXS</td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/07/Arisaig-Quarterly-July-2021.pdf">Arisaig Partners</a></td><td width="10%">7/20/2021</td><td width="40%">$ARCE</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2021Q2NP.pdf">Hoisington Investment Management</a></td><td width="10%">7/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://l1international.com/wp-content/uploads/2021/07/L1-International-Fund-June-2021-Quarterly.pdf">L1 International Capital Fund</a></td><td width="10%">7/20/2021</td><td width="40%">$GPK</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/60f5143e81f38b20589bb696/1626674238831/2021+Q2.pdf">Blue Tower Asset Management</a></td><td width="10%">7/20/2021</td><td width="40%">$CNR, $TCS.L</td></tr>
<tr><td width="50%"><a href="https://tidefall.substack.com/p/q2-2021-letter">Tidefall Capital Management</a></td><td width="10%">7/20/2021</td><td width="40%">$FB</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/60f7ad8a3fe7684a17b9ef61/1626844555719/Q2+2021Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="10%">7/22/2021</td><td width="40%">$CCUR $YSACU $GOED $MGAG $SODI $PCOA $ASTR $DBMG $PCHM $NNUP</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/60f6f873da228c63e37549b6/1626798195865/Kinsman+Oak+-+Q2+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/07/VVP-Quarterly-Letter-21.06.30.pdf">Vulcan Value Partners</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2021.pdf">Polen Capital - Global Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2021.pdf">Polen Capital - International Growth</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/1766ad27-75c5-d3bf-a347-f467d6f0f302/Steel_City_Capital_2Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="10%">7/22/2021</td><td width="40%">$ATEX, $NEWSA, $LSYN, $SIGA, $TRUP</td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/second-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$NTDOY, $ILMN</td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_93a7743bb3f24198a2d79dad4efa8a48.pdf">Spree Capital</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2021/">Oakmark Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2021/">Oakmark Global Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$THC, $INCZY</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-second-quarter-2021/">Oakmark Global Select Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-international-fund-second-quarter-2021/">Oakmark International Fund</a></td><td width="10%">7/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2021/">Oakmark Select Fund</a></td><td width="10%">7/22/2021</td><td width="40%">$ALSN</td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q2-CVALUE-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="10%">7/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/60fa220c811d9973fb0f68e0/1627005453234/Maran+Partners+Fund+LP+2021+2Q+Letter.pdf">Maran Capital Management</a></td><td width="10%">7/24/2021</td><td width="40%">$CRSS, $CTT.PT, $CLAR, $PCYO</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202106.pdf">Bronte Capital</a></td><td width="10%">7/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.21.pdf">Baron Asset Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$AVLR</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.21.pdf">Baron Growth Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$ZY</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Quarterly-Letter-6.30.21.pdf">Baron Small Cap Fund</a></td><td width="10%">7/24/2021</td><td width="40%">$JBI, $FA</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/60fb1f431155b25f3e6e24a3/1627070275338/Laughing+Water+Capital+H1+2021.pdf">Laughing Water Capital</a></td><td width="10%">7/25/2021</td><td width="40%">$AIMFF, $TACT, $THRY</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/60fbe987b6530a7c47398e53/1627122055845/Q2%2721+letter.pdf">1 Main Capital Partners</a></td><td width="10%">7/25/2021</td><td width="40%">$MHH, $ATIP.WS, $LMB</td></tr>
<tr><td width="50%"><a href="https://www.dropbox.com/s/01e8amkocdrjjai/Voss%20Value%20Fund%20Q2%202021%20Letter.pdf?dl=0">Voss Capital</a></td><td width="10%">7/25/2021</td><td width="40%">$IMXI, $ECNCF</td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/07/Greystone-Capital-Q2-2021-Letter-1.pdf">Greystone Capital Management</a></td><td width="10%">7/25/2021</td><td width="40%">$HOME, $THBRF</td></tr>
<tr><td width="50%"><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_39ad74e8a82d44d0bdcf9529b65981f7.pdf">Emeth Value Capital</a></td><td width="10%">7/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/2Q21-Investor-Letter-.pdf">Summers Value Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTKX-APDKX-APHKX-QCommentary-2Q21-vR.pdf">Artisan International Value Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTMX-APDMX-APHMX-QCommentary-2Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$LPLA, $ENTG, $WMS, $HUBS, $GMAB</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTSX-APDSX-APHSX-QCommentary-2Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$OLO, $WK, $EB, $WMS, $VMI, $BIGC</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Quarterly-Letter-6.30.21.pdf">Baron Opportunity Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$EDR, $INDI, $RNG, $TEAM, $SOFI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Quarterly-Letter-6.30.21.pdf">Baron Partners Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Quarterly-Letter-6.30.21.pdf">Baron FinTech Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$DLO, $MQ, $SOFI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Quarterly-Letter-6.30.21.pdf">Baron Discovery Fund</a></td><td width="10%">7/27/2021</td><td width="40%">$JBGS, $DV, $INDI, $ALKT, $PING, $ZY, $OLK, $RXRX</td></tr>
<tr><td width="50%"><a href="https://www.akrefund.com/wp-content/uploads/2021/07/Akre-Focus-Fund-Quarterly-Commentary-2021-Q2.pdf">Akre Focus Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/07/Epoch-Quarterly-Newsletter_July-2021.pdf">Epoch Investment Partners</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/07/Qlet2021-02-1.pdf">Greenlight Capital</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-2Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202106/Commentary-Small-Cap-Fund-2021-06-30.pdf?c=637629261700000000">Diamond Hill Small Cap Fund</a></td><td width="10%">7/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/07/Alluvial-Capital-Management-Q2-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="10%">7/28/2021</td><td width="40%">$GTX, $PIOE, $CRSS, $TPRP</td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=b8f98eac91">Argosy Investors</a></td><td width="10%">7/28/2021</td><td width="40%">$FERG, $ARLO, $VZIO</td></tr>
<tr><td width="50%"><a href="https://static.seekingalpha.com/uploads/sa_presentations/620/71620/original.pdf">JDP Capital Management</a></td><td width="10%">7/29/2021</td><td width="40%">$SPOT, $ROKU, $DRTT, $INVVY, $STNE</td></tr>
<tr><td width="50%"><a href="https://boyarvaluegroup.com/bvg-pdf/2Q_2021_BVG.pdf">Boyar Value Group</a></td><td width="10%">7/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/60f5db77fc97a93375260820/1626725239450/2Q21+Letter.pdf">Long Cast Advisers </a></td><td width="10%">7/29/2021</td><td width="40%">$QRHC</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637632664960000000">Weitz Hickory Fund</a></td><td width="10%">7/31/2021</td><td width="40%">$MKTX, $DNB</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637632664960000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637632664960000000">Weitz Partners Value Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637632664960000000">Weitz Value Fund</a></td><td width="10%">7/31/2021</td><td width="40%">$ROP</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/60edefe81f6a951228719afb/1626206185704/GCAM+Q2+2021+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">7/31/2021</td><td width="40%">$ACOPF, $ATHM, $KMX</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/610450a3423d6c305d644531/1627672739392/Q2+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/07/DKAM-ROE-Reporter-July-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">7/31/2021</td><td width="40%">$PLCKF, $NOW.V</td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf">First Eagle Global Value</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rowanstreet.com/post/rowan-street-h1-2021-letter">Rowan Street Capital</a></td><td width="10%">7/31/2021</td><td width="40%">$SPOT, $FB</td></tr>
<tr><td width="50%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q2.pdf?sfvrsn=9d9e919d_4">FPA Crescent Fund</a></td><td width="10%">7/31/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.06.30-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_07_12.pdf">Myrmikan Research</a></td><td width="10%">8/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterJun2021.pdf">L1 Capital Long Short Fund</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aikya.co.uk/wp-content/uploads/2021-Q2-Aikya-Letter.pdf">Aikya Funds</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q21.pdf">Horos Funds</a></td><td width="10%">8/10/2021</td><td width="40%">$SUHJY, $MBI</td></tr>
<tr><td width="50%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202021%20-%20Final.pdf">Tweedy Browne</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/60f5682aac77840235833ab0/1626695723048/Upslope+-+2021Q2+Letter.pdf">Upslope Capital Management</a></td><td width="10%">8/10/2021</td><td width="40%">$MKTX, $ENV</td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/july-research-letter-not-your-mothers-inflation/">Crestcat Capital</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/staying-the-course-inflation-and-value-investing/">Pzena Investment Management</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/08/06/investor-letter-2021-q2/">Tao Value</a></td><td width="10%">8/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdpointlimited.com/wp-content/uploads/2021/08/Third-Point-Q2-2021-Investor-Letter-TPIL.pdf">Third Point</a></td><td width="10%">8/10/2021</td><td width="40%">$RH, $DIS</td></tr>
<tr><td width="50%"><a href="https://www.rgaia.com/wp-content/uploads/2021/08/Q2-2021-Investment-Commentary_Final.pdf">RGA Investment Advisors</a></td><td width="10%">8/10/2021</td><td width="40%">$SFIX</td></tr>
<tr><td width="50%"><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_41dd99dced82438a8be6619d79aa814d.pdf">Luca Capital</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1628686646354">Miller Income Strategy</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1628686579058">Miller Opportunity Equity</a></td><td width="10%">8/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Content%20Offers/2021.Q2%20Commentary/2021.Q2%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/APFDX-APDDX-APHDX-QCommentary-2Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/2q/ARTLX-APDLX-APHLX-QCommentary-2Q21-vR.pdf">Artisan Value Fund</a></td><td width="10%">8/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hvst.com/page/art-capital-lp/posts/artko-capital-2q-2021-partner-letter-XzMTMlk1">Artko Capital</a></td><td width="10%">8/23/2021</td><td width="40%">$GLBI, $CURN</td></tr>
<tr><td width="50%"><a href="https://choice-equities.com/wp-content/uploads/2021/08/2021-Q2-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="10%">8/23/2021</td><td width="40%">$INVE</td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/07/2021-06-June-Investor-Update.pdf">LRT Capital</a></td><td width="10%">8/23/2021</td><td width="40%">$DPZ, $SCL, $MAR, $NVO, $RGEN, $HXL, $WSO, $TPL, $CIGI, $TFII</td></tr>
<tr><td width="50%"><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_88277daf3c064730b1a221d3605374cd.pdf">Saga Partners</a></td><td width="10%">8/23/2021</td><td width="40%">$GDRX</td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-2Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-2Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-2Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-2Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-2Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.appleseedfund.com/wp-content/uploads/2021/08/APPLX-2021-Q3-Letter.pdf">Appleseed Fund</a></td><td width="10%">8/28/2021</td><td width="40%">$HLF, $BOWFF, $ALL, $NPSNY</td></tr>
<tr><td width="50%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/">Ariel Trust Funds</a></td><td width="10%">8/28/2021</td><td width="40%">$ADT, $BOKF, $MDP</td></tr>
<tr><td width="50%"><a href="https://www.rondureglobal.com/documents/rondureglobal-comm-20210630.pdf">Rondure Global</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rpwf/commentary/Wedgewood_Fund_2Q21_Investor_Letter.pdf">RiverPark/Wedgewood Fund</a></td><td width="10%">8/28/2021</td><td width="40%">$CDW, $CPRT, $TSM</td></tr>
<tr><td width="50%"><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/semi-annual-letter-to-shareholders-2021.pdf?sfvrsn=6">Fundsmith Equity Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/60fd6459b6530a7c47483cb4/1627219033515/Greenhaven+Road+Letter+%282021+Q2%29%5B14%5D.pdf">Greenhaven Road Capital</a></td><td width="10%">8/28/2021</td><td width="40%">$MKTW</td></tr>
<tr><td width="50%"><a href="http://www.goodhavenfunds.com/media/pdfs/2021_SAR.pdf">GoodHaven Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2021-Q2.pdf">Hayden Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/46240c98-192f-54b0-e33f-04bcfae1a6d3/Arquitos_Investor_Letter_Q2_2021.pdf">Arquitos Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2021.pdf">Evermore Global Value Fund</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1z0cVyJJhW2gOIRJjcnm97gLAHPyGB7y5/view">Andaz Private Investments</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://4bcad08e-7e47-411d-ace4-bf332d18ac81.filesusr.com/ugd/ae68ee_0b2b61051db64ebd8e6c9b6bf84f5bf5.pdf">WertArt Capital</a></td><td width="10%">8/28/2021</td><td width="40%">$SUPN, $GOE.PA, $NTDOY, $HSCNF</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/129847b2-a046-f058-3f5b-574f42e332c7/Rhizome_Partners_Q2_2021_Investor_Letter_Final_8_11_2021.pdf">Rhizome Partners</a></td><td width="10%">8/28/2021</td><td width="40%">$FRPH</td></tr>
<tr><td width="50%"><a href="https://palmcapital.co.za/wp-content/uploads/2021/08/2021Q2-Commentary.pdf">Palm Capital</a></td><td width="10%">8/28/2021</td><td width="40%"></td></tr>
</tbody>
</table>
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<hr /><span style="font-size: large;">1st Quarter 2021</span><br /><hr /><br />
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<thead>
<tr>
<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
</thead>
<tbody>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/04/STJIC-Adviser-Letter-2021-Q1-Final.pdf">St. James Investment Company </a></td><td width="10%">4/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/04/HCM-Q1-21-Quarterly-Letter.pdf">Headwaters Capital</a></td><td width="10%">4/05/2021</td><td width="40%">$AFG, $TREE</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/60661aecfb181a159d5db5c6/1617304300584/Q12021.pdf">Comus Investments</a></td><td width="10%">4/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/606b99c2db9f0919a2294aa6/1617664479120/Del+Principe+O%27Brien+March+2021+Letter+.pdf">Del Principe O’Brien Financial Advisors</a></td><td width="10%">4/05/2021</td><td width="40%">$AVGO, $DISCA, $BIIB</td></tr>
<tr><td width="50%"><a href="http://east72.com.au/wp-content/uploads/2021/04/QUARTERLY-REPORT-Public-March-2021.pdf">East72 Holdings</a></td><td width="10%">4/06/2021</td><td width="40%">$VHI, $HALFF</td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_64_en.pdf">Vltava Fund</a></td><td width="10%">4/07/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$PHYS, $CRI, $WHGLY, $DOX</td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_349e86f42c3f42c78ed7759e48940932.pdf">Merion Road Capital</a></td><td width="10%">4/08/2021</td><td width="40%">$FNF, $RCKY</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2021/">Oakmark Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$MO, $COP</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2021/">Oakmark Select Fund</a></td><td width="10%">4/08/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2021/">Oakmark Global Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$CGEMY, $FISV, $GD, $HUM, $SAP</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-first-quarter-2021/">Oakmark Global Select Fund</a></td><td width="10%">4/08/2021</td><td width="40%">$DDAIF, $CS</td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Worm%20Capital%20-%20Q1%202021%20Letter.pdf?utm_medium=email&_hsmi=120528142&_hsenc=p2ANqtz-88OPptDlNk0V_RKer-I8HnGkft2e5Y_-jllYmTk9S3aCp_JUT34K1fdxVHIJ8TE3KQBnHX6Ndz6Zovncgns-qhi6iROQ&utm_content=120528142&utm_source=hs_email">Worm Capital</a></td><td width="10%">4/09/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://p.weebly.com/14123551/80d38a39e3/ACML_2021_Q1.pdf">Alphyn Capital Management</a></td><td width="10%">4/11/2021</td><td width="40%">$CFX</td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=a1db0cdb72">Argosy Investors</a></td><td width="10%">4/12/2021</td><td width="40%">$KAR, $GO, $CNSWF, $RRTS, $DFH, $RGLD</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/c6900e62-2470-4112-ad70-66c7876601e0/March_2021_Investor_Letter_Institutional_Imperative_vFinal.pdf">Richie Capital Group</a></td><td width="10%">4/12/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/d2a1d2_de9b06acfa2e43c1b2cccbeecbca5f38.pdf">Wedgewood Partners</a></td><td width="10%">4/14/2021</td><td width="40%">$BKNG, $EW, $ODFL, $SBUX</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">4/14/2021</td><td width="40%">$MSTR, $DKNG, $MGNI, $EH, $CHPT, $PLAN</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">4/14/2021</td><td width="40%">$SHAK, $CTRX, $TECH, $BLI, $BIGC, $AVLR</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2021/iso_ac_20210331.pdf">FMI All Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2021/iso_in_20210331.pdf">FMI International Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2021/iso_lc_20210331.pdf">FMI Large Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2021/iso_sc_20210331.pdf">FMI Small Cap Equity</a></td><td width="10%">4/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q21_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">4/15/2021</td><td width="40%">$UNH, $BKNG, $SCHW, $SQ, ZG, $SNOW, $FTCH</td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/assets/pdfs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_1Q21_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$UNH, $BKNG, $SCHW, $SQ, ZG, $SNOW, $FTCH</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202103.pdf">Bronte Capital</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/607848df2b3546320bb614e8/1618495713359/Upslope+-+2021Q1+Letter.pdf">Upslope Capital Management</a></td><td width="10%">4/15/2021</td><td width="40%">$FCV, $TMXXF, $CBOE</td></tr>
<tr><td width="50%"><a href="https://www.nzscapital.com/quarterly-letters/q1-2021-letter">NZS Capital</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$LUMN, $AMG, $CNX, $GE, $MGM, $FRFHF, $CNHI</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/1q21-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$LUMN,$CNX, $ESRT, $RLGY, $MAT</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2021/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">4/15/2021</td><td width="40%">$TOITF, $ATVI</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-march-2021/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">4/15/2021</td><td width="40%">$TOITF, $ATVI</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2021Q1NP.pdf">Hoisington Investment Management</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">4/15/2021</td><td width="40%">$FISV</td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">4/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q1-letter-fewer-but-better">Andvari Associates</a></td><td width="10%">4/15/2021</td><td width="40%">$CSGP</td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_e111d7b217d84fc6a3d141bc4da4e2c2.pdf">Old West Capital Management</a></td><td width="10%">4/16/2021</td><td width="40%">$RFL</td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/1Q21-Investor-Letter.pdf">Summers Value Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$ELMD</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.21.pdf">Baron Asset Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$TRIP, $EPAM</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.21.pdf">Baron Discovery Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$TRIP, $VSPR, $MRCY, $DSP, $SAIL</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.21.pdf">Baron Health Care Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$ICLR, $TECH</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-3.31.21_0.pdf">Baron Opportunity Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/first-quarter-2021-investment-update/">Ensemble Fund</a></td><td width="10%">4/16/2021</td><td width="40%">$$FAST, $HD</td></tr>
<tr><td width="50%"><a href="https://info.massifcap.com/cs/c/?cta_guid=1c92330b-c129-4677-99c2-1e472dbf2bf3&signature=AAH58kGMg6AB-2tlmoiqkWnIMLMFRr9cxQ&pageId=44998595421&placement_guid=7176c8ab-1803-4f2a-982d-00261ee33e87&click=6453a38f-d437-4d45-9ed8-0f022fea3c0a&hsutk=c7a00000129d1ab31df10178dc3acf03&canon=https%3A%2F%2Finfo.massifcap.com%2Ffirst-quarter-2021-letter-to-investors-full&utm_referrer=https%3A%2F%2Fwww.reddit.com%2F&portal_id=4518141&redirect_url=APefjpEOhoAzbqmMIGOodmqp0YJMarGkKPCQ1nX11xmBRxJ3L4UbCp_iosSORBALh1LqwIe1d_UqRT13T7zUISDnL-XXSv7NhAmiwt7Dncx1kydBMgDScbvQqAFVXlU4Qnf2IA_vtv_KNfm2dnj5hsQkQS2Z5eeIE8Agbwyqo5u5eJEwmADP9bR9-Y5VMS0hdwmUfjzSDDyXqFpOc4YMjE9gg5FAMt3Q29eD5dCCdKc00dq0Mko-5sE915i8kn9_2z5U3P3EaJ-kN97S0lErcVWVMvpQyLPkMA">Massif Capital</a></td><td width="10%">4/16/2021</td><td width="40%">$LAC, $IVN, $TRQ</td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/04/Qlet2021-01-2.pdf">Greenlight Capital</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_1f4310f663684c688a501f1d425e1cb5.pdf">Spree Capital</a></td><td width="10%">4/16/2021</td><td width="40%">$ICE</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=3059">Miller/Howard Investments</a></td><td width="10%">4/16/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2021/04/shareholder-letter-smead-value-fund1.pdf">Smead Value Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2021_03_31_bca_scv_marketcomm.pdf">Bernzott Capital Advisors</a></td><td width="10%">4/17/2021</td><td width="40%">$UPLD, $ORBC, $JIH</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTMX-APDMX-APHMX-QCommentary-1Q21-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/1q2021-commentary">Whitebrook Capital</a></td><td width="10%">4/17/2021</td><td width="40%">$DISCA, $CNDT</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/6073fa24de1505281daa7d78/1618213412780/2021+Q1.pdf">Blue Tower Asset Management</a></td><td width="10%">4/17/2021</td><td width="40%">$CGEO.L</td></tr>
<tr><td width="50%"><a href="https://l1international.com/wp-content/uploads/2021/04/L1_International_Fund_March_2021_Quarterly.pdf">L1 International Capital Fund</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2021/GE-1Q21-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2021/IE-1Q21-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">4/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/EM/2021/EM-1Q21-Report.pdf">Harding Loevner Emerging Markets Equity</a></td><td width="10%">4/17/2021</td><td width="40%">$HNHPF, $WEGZY, $6415.TW</td></tr>
<tr><td width="50%"><a href="https://www.nelsoncapitalmgmt.com/wp-content/uploads/2021/04/2021Q1.pdf">Nelson Capital</a></td><td width="10%">4/17/2021</td><td width="40%">$DNMR</td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/04/Q1-2021-Letter.pdf">Distillate Capital</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.akrefund.com/wp-content/uploads/2021/04/Akre-Focus-Fund-Quarterly-Commentary-2021-Q1.pdf">Akre Focus Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Core Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Micro Cap Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Micro Cap Value Fund</a></td><td width="10%">4/18/2021</td><td width="40%">$VREOF, $SKY, $MX, $NLS, $ASPU, $STRL, $ROAD</td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Small Cap Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Small Cap Value Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2021.03.31-Q-FNL.pdf">Wasatch Ultra Growth Fund</a></td><td width="10%">4/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/04/Arisaig-Quarterly-April-2021.pdf">Arisaig Partners</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/REIFX-Shareholder-Letter.pdf">Third Avenue International Real Estate Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$LEN, $BAM, $CBRE, $JBGS, $PLD</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$BSIG</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr><tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.21.pdf">Baron Growth Fund</a></td><td width="10%">4/20/2021</td><td width="40%">$ACVA</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.21.pdf">Baron Partners Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.21_0.pdf">Baron Real Estate Fund</a></td><td width="10%">4/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://cdn.substack.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc936d6a4-4d95-4062-a6d3-1be113b71c41_1770x2502.png">Tidefall Capital Management</a></td><td width="10%">4/22/2021</td><td width="40%">$BRK.B</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/607dbeff4b7b445d523e1dda/1618853631624/GCAM+Q1+2021+client+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">4/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$UHAL, $RGA, $PSB</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$CCBG, $NFG, $CGAU</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-1Q21-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">4/22/2021</td><td width="40%">$PAHC, $MEI</td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/04/Greystone-Capital-Q1-2021-Letter.pdf">Greystone Capital Management</a></td><td width="10%">4/25/2021</td><td width="40%">$PW, $SHSP, $HIL, $THRY, $RMNI, $LSYN, $PLBY</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/608403732cc7860039191c41/1619264371755/Q1%2721+letter.pdf">1 Main Capital Partners</a></td><td width="10%">4/25/2021</td><td width="40%">$GOOG, $KKR, $LMB, $PSH, $RICK, $LGIH, $W, $WINE.LN</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2021.pdf">Polen Capital - Focus Growth</a></td><td width="10%">4/25/2021</td><td width="40%">$AMZN, $NFLX, $CRM</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2021.pdf">Polen Capital - Global Growth</a></td><td width="10%">4/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2021.pdf">Polen Capital - International Growth</a></td><td width="10%">4/25/2021</td><td width="40%">$TCRHY, $AON, $SGPYY, $EDU, $ADDYY, $CSLLY, $EVVTY</td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q1-2021-Review_FINAL.pdf">Horizon Kinetics</a></td><td width="10%">4/25/2021</td><td width="40%">$TPL</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5dffdcfc384bd7412cac2e9b/t/608306de4e49f0272799af39/1619199711634/Kinsman+Oak+-+Q1+2021+Letter+vFinal.pdf">Kinsman Oak Equity Fund</a></td><td width="10%">4/25/2021</td><td width="40%">$BWXT</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-3.31.21.pdf">Baron FinTech Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.21.pdf">Baron Small Cap Fund</a></td><td width="10%">4/27/2021</td><td width="40%">$DRVN, $ETWO, $SHLS</td></tr>
<tr><td width="50%"><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q21.pdf">Horos Funds</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/60837419998e6d1327cad2f2/1619227673384/Laughing+Water+Capital+Q1+2021.pdf">Laughing Water Capital</a></td><td width="10%">4/27/2021</td><td width="40%">$RMNI, $ITI</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTKX-APDKX-APHKX-QCommentary-1Q21-vR.pdf">Artisan International Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTSX-APDSX-APHSX-QCommentary-1Q21-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary_0.PDF">First Eagle Global Value</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/04/VVP-Quarterly-Letter-21.03.31.pdf">Vulcan Value Partners</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637551430890000000">Weitz Hickory Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637551430890000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637551430890000000">Weitz Partners Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637551430890000000">Weitz Value Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterMar2021.pdf">L1 Capital Long Short Fund</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aikya.co.uk/wp-content/uploads/2021/04/2021-Q1-Aikya-letter.pdf">Aikya Funds</a></td><td width="10%">4/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://alluvialcapital.com/wp-content/uploads/2021/04/Alluvial-Capital-Management-Q1-2021-Letter-to-Partners.pdf">Alluvial Capital Management</a></td><td width="10%">4/28/2021</td><td width="40%">$PIOE, $CRAWA, $LGNC, $WHLR, $MMAC</td></tr>
<tr><td width="50%"><a href="https://www.diamond-hill.com/sitefiles/live/documents/funds/commentaries/202103/Commentary-Small-Cap-Fund-2021-03-31.pdf?c=637552293870000000">Diamond Hill Small Cap Fund</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rgaia.com/wp-content/uploads/2021/04/Q1-2021-Investment-Commentary-FINAL.pdf">RGA Investment Advisors</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2021-q1.pdf?sfvrsn=8">FPA Crescent Fund</a></td><td width="10%">4/28/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/608c14f248d0480bd46a9f0f/1619793138598/Maran+Partners+Fund+LP+2021+1Q+Letter.pdf">Maran Capital Management</a></td><td width="10%">5/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/608f30c68a421213d86a1fca/1619996870844/Q1+2021+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">5/02/2021</td><td width="40%">$VQSLF</td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/04/Epoch-Quarterly-Newsletter_April-2021.pdf">Epoch Investment Partners</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/04/DKAM-ROE-Reporter-April-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2021.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2021.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-SMID-Company-Growth_Commentary-1Q2021.pdf">Polen U.S. SMID Company Growth </a></td><td width="10%">5/03/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/04/28/investor-letter-2021-q1/">Tao Value</a></td><td width="10%">5/03/2021</td><td width="40%">$TAL, $FUTU</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/6090ae79e8c9d0715bdbb1d2/1620094586126/Q1+2021Results+for+Cedar+Creek+Partners.pdf">Cedar Creek Partners</a></td><td width="10%">5/04/2021</td><td width="40%">$SODI $PCOA $DBMG $PCHM $PDRX $RILY $SBNC</td></tr>
<tr><td width="50%"><a href="https://www.palmharbourcapital.com/files/PHC_Q1_2021_Letter.pdf">Palm Harbour Capital</a></td><td width="10%">5/06/2021</td><td width="40%">$SEOAY, $</td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/156KaPykj421-qrzeb22yP2Yr55kdmGc2/view">Andaz Private Investments</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202021%20-%20Final.pdf">Tweedy Browne</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://bluehawkinvestors.com/wp-content/uploads/2021/05/Q1-2021-Investor-Letter.pdf">Blue Hawk Investment Group </a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-income-fund-commentary.pdf?cache=1620323022969">Miller Income Strategy</a></td><td width="10%">5/06/2021</td><td width="40%">$PBI, $CHS, $VTRS, $GEO</td></tr>
<tr><td width="50%"><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf?cache=1620314382817">Miller Opportunity Equity</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2021/GSC-1Q21-Report.pdf">Harding Loevner Global Small Companies</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2021/ISC-1Q21-Report.pdf">Harding Loevner International Small Companies Equity</a></td><td width="10%">5/06/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdpointlimited.com/wp-content/uploads/2021/05/Third-Point-Q1-2021-Investor-Letter-TPIL.pdf">Third Point</a></td><td width="10%">5/07/2021</td><td width="40%">$UPST, $GRAB, $CSGP</td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/7840b0a9-c29d-4f13-a92e-3ab748b62a11/Steel_City_Capital_1Q_21_Partner_Letter.01.pdf">Steel City Capital</a></td><td width="10%">5/10/2021</td><td width="40%">$NWSA, $SIGA, $ATEX, $LSYN, $TRUP, $WDFC</td></tr>
<tr><td width="50%"><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2021.Q1%20Commentary/2021.Q1%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf">Goehring & Rozencwajg</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/crescat-april-investor-letter/">Crestcat Capital</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_05_13.pdf">Myrmikan Research</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/early-days-in-the-value-recovery-commentary/">Pzena Investment Management</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abd98abb-2e75-dd3f-742d-521ce1e13373/050521_Bonhoeffer_Partner_Letter_Q1_2021.pdf">Bonhoeffer Capital Management</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.appleseedfund.com/wp-content/uploads/2021/05/APPLX-Q1-2021-Semi-Annual-Letter.pdf">Appleseed Fund</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Sustainable-Q1-2021-web.pdf">Saturna Capital</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Amana-Q1-2021-web.pdf">Saturna Capital - Amana Funds</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.saturna.com/sites/saturna.com/files/files/2021/Sextant-Q1-2021-web.pdf">Saturna Capital - Sextant Funds</a></td><td width="10%">5/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://choice-equities.com/wp-content/uploads/2021/05/2021-Q1-CEF-Investor-Letter.pdf">Choice Equities Fund</a></td><td width="10%">5/13/2021</td><td width="40%">$BNED, $FARM</td></tr>
<tr><td width="50%"><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2021-partner-letter-oNRTNaLn">Artko Capital</a></td><td width="10%">5/23/2021</td><td width="40%">$HQI</td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/04/2021-03-March-Performance-Update-Public.pdf">LRT Capital</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/">Ariel Trust Funds</a></td><td width="10%">5/23/2021</td><td width="40%">$AXTA, $SNA, $SRCL</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/APFDX-APDDX-APHDX-QCommentary-1Q21-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2021/1q/ARTLX-APDLX-APHLX-QCommentary-1Q21-vR.pdf">Artisan Value Fund</a></td><td width="10%">5/23/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/60a80d2db82d4c0854264a21/1621626158448/Bonsai+Partners+Q1+2021+Investor+Letter+Final.pdf">Bonsai Partners</a></td><td width="10%">5/23/2021</td><td width="40%">$RDBBF, $MU, TSYHY, $PHPYF, $LKQ, $TSM, $ILMN</td></tr>
</tbody>
</table>
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<hr /><span style="font-size: large;">4th Quarter 2020</span><br /><hr /><br />
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<th>Fund Name</th>
<th>Date</th>
<th>Stocks Mentioned</th></tr>
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<tbody>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf">Alger Mid Cap Focus Fund</a></td><td width="10%">1/14/2021</td><td width="40%">$NET, $ROKU, $FTCH, $QDEL, $STMP, $ZM</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf">Alger Small Cap Focus Fund</a></td><td width="10%">1/14/2021</td><td width="40%">$CDNA, $NTRA, $CMD, $STMP, $TNDM, $QDEL</td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf">Alger Spectra Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.alger.com/AlgerDocuments/SpecializedGrowthFund_Commentary.pdf">Alger Weatherbie Specialized Growth Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://p.weebly.com/14123551/0fd3577090/ACML_2020_Q4.pdf">Alphyn Capital Management</a></td><td width="10%">1/24/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/6010d367849bae794accb740/1611715431638/Q4+2020+Alta+Fox+Capital+Quarterly+Letter.pdf">Alta Fox Capital Management</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1WotHxQKWf4FdXA4Fz-1oWl9MVCMet2XA/view">Andaz Private Investments</a></td><td width="10%">1/04/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://andvariassociates.com/q4-letter-the-leap-of-faith">Andvari Associates</a></td><td width="10%">1/07/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://us17.campaign-archive.com/?u=b31fc288ff34d8bcaac5a79ef&id=e596a3f39f">Argosy Investors</a></td><td width="10%">1/12/2021</td><td width="40%">$PINS, $JD, $RP, $SPB, $FTV, $WFC</td></tr>
<tr><td width="50%"><a href="https://arisaig.com/wp-content/uploads/2021/01/Arisaig-Quarterly-January-2021.pdf">Arisaig Partners</a></td><td width="10%">1/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/APFDX-APDDX-APHDX-QCommentary-4Q20-vR.pdf">Artisan Global Discovery Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTIX-APDIX-APHIX-QCommentary-4Q20-vR.pdf">Artisan International Value Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTMX-APDMX-APHMX-QCommentary-4Q20-vR.pdf">Artisan Mid Cap Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTSX-APDSX-APHSX-QCommentary-4Q20-vR.pdf">Artisan Small Cap Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$SMMC ($BTRS), $DNLI, $ZNGA, $FROG.</td></tr>
<tr><td width="50%"><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/4q/ARTLX-APDLX-APHLX-QCommentary-4Q20-vR.pdf">Artisan Value Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://docsend.com/view/ffasrkj3xbcp73rp">Avory & Company</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-12.31.20.pdf">Baron Asset Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$SFIX, $FTCH.</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-12.31.20.pdf">Baron Discovery Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$CDNA, $TPIC, $ALGM, $ESPR, $EBS, $SILK, $FQVTF, $MDEVF, $RRR, $EAR.</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-FinTech-Fund-Letter-12.31.20.pdf">Baron FinTech Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$SHOP, $MELI</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-12.31.20.pdf">Baron Growth Fund</a></td><td width="10%">1/25/2021</td><td width="40%">$DM</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-12.31.20.pdf">Baron Health Care Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-12.31.20.pdf">Baron Opportunity Fund</a></td><td width="10%">1/17/2021</td><td width="40%">$OPEN, $SFIX, $FTCH</td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-12.31.20.pdf">Baron Partners Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-12.31.20_0.pdf">Baron Real Estate Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_12_31_bca_scv_marketcomm_final.pdf">Bernzott Capital Advisors</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/600e93bc3e161e647bf37eb8/1611568060751/2020+Q4.pdf">Blue Tower Asset Management</a></td><td width="10%">1/27/2021</td><td width="40%">$EZPW</td></tr>
<tr><td width="50%"><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202012.pdf">Bronte Capital</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_scg_fund_commentary.pdf">Carillon Eagle Small Cap Growth Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5fef8b00dac66e1e16b7d4d0/1609534209232/Q42020.pdf">Comus Investments</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://concentratedcompounding.com/2020-annual-letter/">Concentrated Compounding*</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2020/">Cooper Investors Global Equity Fund (Hedged)</a></td><td width="10%">1/20/2021</td><td width="40%">$TKAYY, $WMG, $WDAY, $OCPNY.</td></tr>
<tr><td width="50%"><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-december-2020/">Cooper Investors Global Equity Fund (Unhedged)</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://distillatecapital.com/wp-content/uploads/2021/01/Q4-2020-Letter.pdf">Distillate Capital</a></td><td width="10%">1/02/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://donvillekent.com/wp-content/uploads/2021/01/DKAM-ROE-Reporter-January-2021.pdf">Donville Kent Asset Management</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/dd77d6a119e511a93e9308144/files/d2f72ae0-8aec-47c9-9e3a-66ec7ebe0d92/Edgebrook_Annual_Letter_2020.01.pdf">Edgebrook Partners</a></td><td width="10%">1/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.eipny.com/wp-content/uploads/2021/01/Epoch-Quarterly-Newsletter_January-2021.pdf">Epoch Investment Partners</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.feim.com/sites/default/files/FE_GV_Annual_Letter_F-CM-GVT-ANNLTR-P-US.pdf">First Eagle Global Value</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20201231.pdf">FMI All Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20201231.pdf">FMI International Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20201231.pdf">FMI Large Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20201231.pdf">FMI Small Cap Equity</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://foragerfunds.com/wp-content/uploads/2021/01/FORAGER-QR_DEC20.pdf">Forager Funds</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2020.pdf?sfvrsn=4">Fundsmith Equity Fund</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/6008b2665bd7e21cbb2aefd0/1611182698327/GCAM+FY+2020+letter.pdf">Giverny Capital Asset Management</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.goodhavenfunds.com/media/pdfs/2020_AR.pdf">GoodHaven Fund</a></td><td width="10%">1/29/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.valuewalk.com/wp-content/uploads/2021/01/Qlet2020-041.pdf">Greenlight Capital</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.greystonevalue.com/wp-content/uploads/2021/01/Greystone-Capital-Q4-2020-Letter.pdf">Greystone Capital Management</a></td><td width="10%">1/16/2021</td><td width="40%">$CHRM, $TRRVF, $LSYN, $USAT, $FREE</td></tr>
<tr><td width="50%"><a href="https://headwaterscapmgmt.com/wp-content/uploads/2021/01/Q4-20-HCM-Investment-Letter-FINAL.pdf">Headwaters Capital</a></td><td width="10%">1/10/2021</td><td width="40%">$ENTG, $FICO, $INSP</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Mid Cap Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$FCX, $RJF, $BG, $AAP</td></tr>
<tr><td width="50%"><a href="">Heartland Select Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Value Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$THO, $NVT, $CAGDF</td></tr>
<tr><td width="50%"><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q20-Portfolio-Manager-Commentary">Heartland Value Plus Fund</a></td><td width="10%">1/15/2021</td><td width="40%">$PAHC, $RILY.</td></tr>
<tr><td width="50%"><a href="https://hoisington.com/pdf/HIM2020Q4NP.pdf">Hoisington Investment Management</a></td><td width="10%">1/19/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterDec2020.pdf">L1 Capital Long Short Fund</a></td><td width="10%">1/25/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/600d8da0643aa1698781e02a/1611500960816/Laughing+Water+Capital+YE+2020.pdf">Laughing Water Capital</a></td><td width="10%">1/24/2021</td><td width="40%">$AIMFF, $CDMO, $PAR, $USAT</td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llpf-commentary/">Longleaf Partners Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llgl-commentary/">Longleaf Partners Global Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q20-llin-commentary/">Longleaf Partners International Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://southeasternasset.com/commentary/4q-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.lrtcapital.com/wp-content/uploads/2021/01/2020-12-December-Performance-Update.pdf?utm_source=LRT+Capital+Management&utm_campaign=7b597b9b26-EMAIL_CAMPAIGN_4_27_2019_9_58_COPY_01&utm_medium=email&utm_term=0_8ad2dd2e5c-7b597b9b26-328907381">LRT Capital</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0">Madison Small Cap Fund</a></td><td width="10%">1/18/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/6009bb1b2d18d542ead573a2/1611250465556/2020.Q4+Massif+Investor+Client+Letter.pdf">Massif Capital</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_c4c58da3cf8940a2a507e31c7543f084.pdf">Merion Road Capital</a></td><td width="10%">1/12/2021</td><td width="40%">$PINS, $FCPT, $FERGY, $MHH, $RMCF, $LNSR</td></tr>
<tr><td width="50%"><a href="https://www.mhinvest.com/download.html?docId=3050">Miller/Howard Investments</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://drive.google.com/file/d/1igQ64JuZiJ7IEQllP0u3RyQBJ3_uPJTg/view">MPE Capital</a></td><td width="10%">1/13/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2021_01_13.pdf">Myrmikan Research</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.nzscapital.com/news/nzs-capital-q4-2020-update">NZS Capital</a></td><td width="10%">1/17/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-fund-fourth-quarter-2020/">Oakmark Fund</a></td><td width="10%">1/11/2021</td><td width="40%">$FISV, $KKR</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-select-fund-fourth-quarter-2020/">Oakmark Select Fund</a></td><td width="10%">1/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-fund-fourth-quarter-2020/">Oakmark Global Fund</a></td><td width="10%">1/11/2021</td><td width="40%">$NVS, $KDP, $LYV, $PINS</td></tr>
<tr><td width="50%"><a href="https://oakmark.com/news-insights/oakmark-global-select-fund-fourth-quarter-2020/">Oakmark Global Select Fund</a></td><td width="10%">1/11/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d433d06abf354a039039af0d4933c5f8.pdf">Old West Capital Management</a></td><td width="10%">1/11/2021</td><td width="40%">$WLDBF.</td></tr>
<tr><td width="50%"><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_84c55e774aac418fa065fb61206be3c1.pdf">Palm Valley Capital Fund</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2020.pdf">Polen Capital - Focus Growth</a></td><td width="10%">1/22/2021</td><td width="40%">$ILMN, $CRM.</td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2020.pdf">Polen Capital - Global Growth</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2020.pdf">Polen Capital - International Growth</a></td><td width="10%">1/22/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.pzena.com/momentum-is-with-value/">Pzena Investment Management</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/ecdc9789db8ac15ad9607f3f6/files/e5a21f93-8c76-431c-8ddd-63c0efe24514/December_2020_Investor_Letter_Blind_Spots_vFinal.pdf">Richie Capital Group</a></td><td width="10%">1/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q20_Investor_Letter.pdf">RiverPark Large Growth</a></td><td width="10%">1/14/2021</td><td width="40%">$SNAP, $PINS, $BX, $UBER, $EXAS, $LMT, $DXCM.</td></tr>
<tr><td width="50%"><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long-Short_Opportunity_Fund_4Q20_Investor_Letter.pdf">RiverPark Long/Short Opportunity Fund</a></td><td width="10%">1/14/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.rvcapital.ch/post/rv-capital-s-2020-letter-to-co-investors-in-the-business-owner-fund?utm_campaign=35210720-6fbf-42de-a744-9fd46d8f3f4e&utm_source=so&utm_medium=mail&cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6">RV Capital</a></td><td width="10%">1/15/2021</td><td width="40%">$WORK</td></tr>
<tr><td width="50%"><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf">Smead Value Fund</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_dbd7c0662df04a51889bfc17d810d421.pdf">Spree Capital</a></td><td width="10%">1/18/2021</td><td width="40%">$CDLX, $UPWK.</td></tr>
<tr><td width="50%"><a href="https://stjic.com/wp-content/uploads/2021/01/STJ-Adviser-Letter-2020-Q4.pdf">St. James Investment Company </a></td><td width="10%">1/10/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/51948ad1-0c35-4453-9e43-36915ae8cfec/Steel_City_Capital_4Q_20_Partner_Letter.pdf">Steel City Capital</a></td><td width="10%">1/25/2021</td><td width="40%">$LSYN, $ATEX, $EBAY, $TRUP, $WDFC</td></tr>
<tr><td width="50%"><a href="https://www.summersvalue.com/wp-content/uploads/2020-Annual-Investor-Letter-.pdf">Summers Value Fund</a></td><td width="10%">1/21/2021</td><td width="40%">$BASI, $ELMD, $MODV</td></tr>
<tr><td width="50%"><a href="https://taovalue.net/2021/01/20/investor-letter-2020-q4/">Tao Value</a></td><td width="10%">1/21/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%">$FNMA, $AMH</td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://thirdave.com/wp-content/uploads/shareholder-letters/TAVFX-Shareholder-Letter.pdf">Third Avenue Value Fund</a></td><td width="10%">1/20/2021</td><td width="40%">$LAZ, $SVNDY.</td></tr>
<tr><td width="50%"><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/600031ce75feee1e320a0c37/1610625487864/Upslope+-+2020Q4+Letter.pdf">Upslope Capital Management</a></td><td width="10%">1/15/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vltavafund.com/data/dopisy/dopis_63_en.pdf">Vltava Fund</a></td><td width="10%">1/05/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2021/01/VVP-Annual-Letter-20.12.31.pdf">Vulcan Value Partners</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_e0367d900f594418b9f80f5332a78da3.pdf">Wedgewood Partners</a></td><td width="10%">1/13/2021</td><td width="40%">$PGR, $SPGI, $TSCI</td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637472989640000000">Weitz Hickory Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637472989640000000">Weitz Partners III Opportunity Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637472989640000000">Weitz Partners Value Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637472989640000000">Weitz Value Fund</a></td><td width="10%">1/27/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.whitebrookcapital.com/4q2020-commentary">Whitebrook Capital</a></td><td width="10%">1/26/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://horizonkinetics.com/app/uploads/Q4-2020-Review_Final_Approved.pdf">Horizon Kinetics</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-4Q20-Report.pdf">Harding Loevner Global Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-4Q20-Report.pdf">Harding Loevner International Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hardingloevner.com/strategies/international-small-companies-equity/">Harding Loevner International Small Companies Equity</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.hardingloevner.com/strategies/global-small-companies-equity/">Harding Loevner Global Small Companies</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DFFPMComm.pdf">Davis Financial Fund.</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DGFPMComm.pdf">Davis Global Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DIFPMComm.pdf">Davis International Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DNYPMComm.pdf">Davis New York Venture Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://davisfunds.com/downloads/DOFPMComm.pdf">Davis Opportunity Fund</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q4-2020/">Crestcat Capital</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2020.pdf">Polen Capital - International Small Company Growth</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2020.pdf">Polen Capital - U.S. Small Company Growth</a></td><td width="10%">1/30/2021</td><td width="40%"></td></tr>
<tr><td width="50%"><a href="https://ensemblefund.com/fourth-quarter-2020-investment-update/?__hstc=3281263.805dd8f22d7941cbc2e047cb71a92ba5.1612067828585.1612067828585.1612067828585.1&__hssc=3281263.13.1612067818999&__hsfp=3642198382">Ensemble Fund</a></td><td width="10%">1/30/2021</td><td width="40%">$RACE, $NVR</td></tr>
</tbody>
</table>
<br /></div><div><br /></div><div><br /></div><div><br /></div><div><span style="font-size: x-large;">3rd Quarter 2020</span></div><div><span style="font-size: x-large;"><br /></span></div><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f91d68ffcf5365a608ae79b/1603393167269/Q3%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($LMB)</li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($PENN, $ZM, $DKNG, $VAPO, $MIDD, $VERX)</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($NTRA, $CYRX, $VEEV, $AYX, $EHTH, $PRO).</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://p.weebly.com/14123551/0e14046f58/acml_2020_q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f9c71c178bf29569ce3e73c/1604088257626/Q3+2020+Alta+Fox+Capital+Quarterly+Letter+-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT)</li><li><a href="https://drive.google.com/file/d/16Z5Ah7ylRfTNtv7_89hvySNkLBs94ymo/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://andvariassociates.com/q3-letter-repeatable-process-and-concentration" target="_blank">Andvari Associates</a> -($GLIBA, $LBRDA, $CSGP, $TYL)</li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/08/APPLX-Q2-2020-Letter-.pdf" target="_blank">Appleseed Fund</a></li><li><a href="https://mailchi.mp/d5669ebd0777/argosy-investors-3q20-letter-5089533" target="_blank">Argosy Investors</a> - ($TIG, $TAP, $XPO, $HEI, $CIGI).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BAP, $FLIR, $NOV, $MTN).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abb0e242-eb67-40d1-883b-ecdfa6b22d71/Arquitos_Investor_Letter_Q3_2020.pdf" target="_blank">Arquitos Capital</a></li><li><a href="https://arisaig.com/wp-content/uploads/2020/10/Arisaig-Quarterly-October-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/3q/APFDX-APDDX-APHDX-QCommentary-3Q20-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTKX-APDKX-MCommentary-0920-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTMX-APDMX-MCommentary-0920-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTSX-APDSX-MCommentary-0920-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTLX-APDLX-MCommentary-0920-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-3q-2020-partner-letter-XOMTVzxR" target="_blank">Artko Capital</a> - ($NTIC, $PBPB, $FTK)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-9.30.20.pdf" target="_blank">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-9.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($PRPL, $VITL, $PACB, $BLI, $AFIB, $MEG, $AEIS).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron FinTech Fund</a> - ($SQ, $NVEI.TO).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-9.30.20.pdf" target="_blank">Baron Growth Fund</a> - ($AMWL).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-9.30.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-9.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-9.30.20_1.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_9_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($SSTK, INOV, $WSC, $EPAY, $SP, $CSOD)</li><li><a href="https://s3.amazonaws.com/bireme/3Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AAADKn6HMQN3RcB_NnJSPUsRa/Black%20Bear%20Value%20Partners%20Q3%202020.pdf?dl=0" target="_blank">Black Bear Value Partners</a> - ($AWI, $AN, $BRK.B, $PSX, $TPL)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f84061d553af93162d867d1/1602487838468/2020+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($BERY)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f90958a0514cc4e0f71e119/1603310986504/Bonsai+Partners+Q3+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($RDBBF, $PHPYF, $MU, $GNSS, $TSM).</li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202009.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf3q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a> - ($CRL, $BFAM, $JKHY, $RP)</li><li><a href="https://browncapital.com/system/files/scf3q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($IRTC, $VEEV, $AYX, $PRO)</li><li><a href="https://browncapital.com/system/files/ief3q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf3q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://drive.google.com/file/d/1a76lPrhT-7Z1kFGOwh1f_w90IPJiAnNE/view" target="_blank">Cartenna Capital</a> - ($FDX, $LAD, $LEA)</li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f85eb7289085d67fca99c88/1602612084148/Q3+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:7abf9ad9-f7fe-4977-813d-f110bc6cd463#pageNum=1" target="_blank">Choice Equities Fund</a> - ($APPS, $PINS, $MGNI, $SIC).</li><li><a href="https://cedcapital.in/wp-content/uploads/2020/10/Quarterly-PMS-Letter-Sep20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5f761584c70e806b3d25af69/1601574277212/Q32020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Hedged)</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Unhedged)</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q3-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5f8770933c746c06627c78af/1602711699235/Q3+2020+Letter.pdf" target="_blank">Curreen Capital</a> - ($CNDT).</li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5fb1cf491cc5cc6622c8d927/1605488457151/Del+Principe+O%27Brien+October+2020+Letter+pdf.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a> - ($BRK.B, $ROP, $DHR, $MC, $ICE)</li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/2eca2e7c-b182-4c14-8b24-b57b0eb9b1e1/2020_Q3_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/10/Q3-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://dmzpartners.in/Documents/Files/DMZ-2103-2Q20-21-Redacted.pdf" target="_blank">DMZ Partners</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/10/DKAM-ROE-Reporter-October-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2020/" target="_blank">Ensemble Fund</a> - ($CMG, $ISRG. $NVR, $BR, $FRC, $NVR).</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/10/16105449/Client-Letter-Q3-2020-FINAL.pdf" target="_blank">Ewing Morris</a> - ($KAI)</li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200930.pdf" target="_blank">FMI All Cap Equity</a> - ($CMCSA, $DLTR).</li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200930.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200930.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200930.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-q3.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NCR, $AGCO, $CNOM, $CNC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q3-final-w-disclosures-and-holdings.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q3%20Commentary/2020.Q3%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f9c6af71e0c5e77d38dbda4/1604086519425/Greenhaven+Road+Letter+%282020+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $KKR, $APPS, $ESTC, $ROKU, $AEYE, $APG, $NLS, $BNED)</li><li><a href="https://www.valuewalk.com/wp-content/uploads/2020/10/Qlet2020-03-1.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.11.01-Q3-Letter-v2.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/11/Greystone-Capital-Q3-2020-Letter.pdf" target="_blank">Greystone Capital Management</a> - ($RICK, $RMNI, $CRAWA, $RSSS, $PW)</li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-3Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-3Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-3Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-3Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q3.pdf" target="_blank">Hayden Capital</a> - ($AFTPF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($HLT, $SPB, $FE, $MHK)</li><li><a href="https://www.heartlandadvisors.com/Products/Strategies/Heartland-Opportunistic-Value-Equity-Strategy/Heartland-Opportunistic-Value-Equity-Strategy-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Opportunistic Value Fund</a> - ($HLT, $CSCO, $BRK.B)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TSC, $OESX ,$PLAB)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SPB, $FCFS, $RL)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q3NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($TPL)</li><li><a href="https://l1international.com/wp-content/uploads/2020/10/09_2020_International_Fund_Quarterly_Report.pdf" target="_blank">L1 International Capital Fund</a></li><li><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2020.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f8c75b4bdc0fc164f836caf/1603040693094/Laughing+Water+Capital+Q3%2720.pdf" target="_blank">Laughing Water Capital</a> - ($USAT, $FREE)</li><li><a href="https://southeasternasset.com/commentary/3q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/10/2020-09-September-Performance-Update-Public.pdf" target="_blank">LRT Capital</a></li><li><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_1bf005a3950242f48eeff54c938130ed.pdf" target="_blank">Luca Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($HON)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0" target="_blank">Madison Investors Fund</a> - ($FB)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0" target="_blank">Madison Mid Cap Fund</a> - ($ANET)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5fa85397ef83d42c47c6bbad/1604866968719/Maran+Partners+Fund+LP+2020+3Q+Letter.pdf" target="_blank">Maran Capital Management</a> - ($FREE, $PCYO, $CLAR)</li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5f91f70b872be4229ca34d82/1603401483222/2020.Q3+Massif+Investor+Client+Letter.pdf" target="_blank">Massif Capital</a></li><li><a href="https://www.mawer.com/learn/mawer-quarterly/third-quarter-2020/" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://www.mclaincap.com/letters" target="_blank">McLain Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_ff943467174a4a2fbef2fb129e71359a.pdf" target="_blank">Merion Road Capital</a> - ($FERGY, $TUESQ)</li><li><a href="https://www.mhinvest.com/download.html?docId=3036" target="_blank">Miller/Howard Investments</a></li><li><a href="https://millervalue.com/deep-value-strategy-3q20-letter/" target="_blank">Miller Value - Deep Value Strategies</a> - ($NBR, $BBBY, $GME, $SIG, $PBI, $ATCO)</li><li><a href="https://millervalue.com/opportunity-equity-3q20-letter/" target="_blank">Miller Value - Opportunity Equity</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a></li><li><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2020_10_13.pdf" target="_blank">Myrmikan Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/10/2020Q3.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($QDEL).</li><li><a href="https://drive.google.com/file/d/1wavRmQCrmYZ0Xr91X-0o7wfgS-oaE48W/view" target="_blank">Nomadic Value</a> - ($UNH, $OHS, $IPOC).</li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2020/" target="_blank">Oakmark Fund</a> - ($CBRE, $KDP)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_16ebf57ec73a4bd8957c37c5ed02890b.pdf" target="_blank">Old West Investment Management</a> - ($LEU)</li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_ebd5d2ddc5a04d9b8a657a03a5115b1f.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($UNH, $ISRG, $CRM, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.rgaia.com/wp-content/uploads/2020/11/Q3-2020-Investment-Commentary-Ignition.pdf" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/0c3c2277-336b-4b40-957b-97b4df6c3b1b/Rhizome_Partners_Q3_2020_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q20.pdf" target="_blank">RiverPark Large Growth</a> - ($PINS, $AAPL, $AMZN, $EXAS, $ISRG, $ILMN, $AMT, $ADSK)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_3Q20.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/11/2020-Q3-Newsletter.pdf" target="_blank">Rowan Street Capital</a> - ($BABA)</li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sustainable-Q3-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Amana-Q3-2020-web.pdf" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sextant-Q3-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://drive.google.com/file/d/1A0s8GKvMy-_xUHbzxDSaN0AEjmwSg_f6/view" target="_blank">Selcouth Capital Management</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=459a37f7-5751-4cfe-9518-f3a1538c959e&Name=Q3_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/ba603bd1-d159-48eb-8ad5-d291db00375b/SilverRingValuePartners_2020Q3_Letter.pdf" target="_blank">Silver Ring Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_706aab945eef4b7088fcb7ee7409a296.pdf" target="_blank">Spree Capital</a> - ($IAC, $ANGI, $PINS)</li><li><a href="https://stjic.com/wp-content/uploads/2020/09/STJIC-Adviser-Letter-2020-Q3.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/13ac1227-dad0-4f2e-9abf-49860419ff60/Steel_City_Capital_3Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a> - ($LSYN, $ATEX. $SATS, $EBAY, $TCP, $TRUP, $HBI, $OLLI)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $ELMD, $PRSC, $ASRT)</li><li><a href="https://taovalue.files.wordpress.com/2020/10/taovalue_2020_q3_final.pdf" target="_blank">Tao Value</a> - ($BEKE, $WORK, $API)</li><li><a href="https://drive.google.com/file/d/1Utxz55Fm5B66CLNOoTYUOktAfFEX5jgq/view" target="_blank">Tidefall Capital Management</a> - ($FB, $NFLX, $MTCH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAREX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FNMA, $CBRE, $AMH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TASCX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($HBB)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAVFX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://thirdpointlimited.com/wp-content/uploads/2020/10/Third-Point-Q3-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AABLnwQSozTE3JKv2sad6Z9fa?dl=0&preview=Tollymore+Q3+2020.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRUP, $FTCH).</li><li><a href="https://www.turtlecreek.ca/wp-content/uploads/2020/10/Turtle-Creek-Quarterly-Commentary-2020-Q3.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202020%20-%20FINAL.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f871d84732ab26ee19d4081/1602690437395/Upslope+-+2020Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($BFAM)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_62_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/10/VVP-Quarterly-Letter-20.09.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f46984994bc44abab0fa9d012fa35da.pdf" target="_blank">Wedgewood Partners</a> - ($FRC, $NVDA, $V, $PYPL)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/3q2020-commentary" target="_blank">White Brook Capital</a> - ($GOOG, $GT)</li><li><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Q3%20Letter%20-%20Worm%20Capital%20-%20October%202020.pdf?utm_medium=email&_hsmi=96979337&_hsenc=p2ANqtz-9c8-1QN7remFXHTROTOZTyb6aD5SohUf2rFfwP8peAv3-Z1XJlW5WJvb4sn6epTXlR7KXK61iVzvAd7ZtR3HHcWBQZvQ&utm_content=96979337&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><span style="font-size: x-large;">2nd Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f1646c5f488c44459f92f6f/1595295430480/Q2%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($HBI)</li><li><a href="https://www.adestella.com/wp-content/uploads/2020/08/Q2-2020-Investor-Letter.pdf" target="_blank">Adestella Investment Management</a> - (WSE:LVC)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/07/Akre-Focus-Fund-Quarterly-Commentary-2020-Q2.pdf" target="_blank">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($QDEL, $DKNG, $MKTX, $INGN, $XPO, $HLIO).</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus</a></li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/07/Alluvial-Capital-Management-Q2-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $LICT, $NUVR, $RWWI, $CRAWA, $PII, $MMAC, $BUKS, $MHGU)</li><li><a href="https://p.weebly.com/14123551/8d9576d761/ACML_2020_Q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f21cdd21a3a007c9039d884/1596050899234/Q2+2020+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT, $NLAB)</li><li><a href="https://drive.google.com/file/d/1tOgr8EbBQL-DFcyuEIteClKQnktt-ioR/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/05/Q1-2020-applx-semi-annual-letter-updated-v2.pdf" target="_blank">Appleseed Fund</a> - ($TPIC).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($JLL, $MSGE, $SWK).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/06/Arisaig-Quarterly-July-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTIX-APDIX-APHIX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTMX-APDMX-APHMX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($PTON, $CHGG, $IEX, $LSCC, $BURL, $ASND).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTSX-APDSX-APHSX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-2q-2020-partner-letter-XzMTMQrb" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/08/2020-08-10-Askeladden-Capital-Q2-2020-Letter-Unkind.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://mcusercontent.com/1299c2986ac5b8b808d25e3db/files/3a2f5125-2747-4c36-90e0-cb882c13bfc0/Avory_Quarterly_Letter_2020_Q3.pdf" target="_blank">Avory&Company</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.20.pdf" target="_blank">Baron Asset Fund</a> - ($ZI)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-6.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($AAT, $CAKE, $FOUR, $AEIS, $CYRX, $NARI).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.20.pdf" target="_blank">Baron Health Care Fund</a> - ($SWAV, $IMMU, $CYRX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-6.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-6.30.30.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.20_0.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-6.30.20.pdf" target="_blank">Baron Small Cap Fund</a> - ($CCH, $AXNX, $KTOS, $AZEK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_6_30_bca_scv_marketcomm_final.pdf?utm_source=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CRNC, $CTLT, $EPAY, $PLOW, $SP, $BV, $SPSC, $TWNK)</li><li><a href="https://bluehawkinvestors.com/q2-2020-investor-letter/" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $EA, $SPLK, $STZ).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f1561892a4010553ea9a4fc/1595236745929/2020+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/c68a1a6b-f4ef-4fa0-a118-538e1f21755d/081020_Bonhoeffer_Partner_Letter_Q2_2020.pdf" target="_blank">Bonhoeffer Fund</a> - ($AM)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f0e14ec768fd51a428a531a/1594758381666/Bonsai+Partners+Q2+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($LKQ, $GNSS, $TSM, $PHPYF)</li><li><a href="https://www.boyarvaluegroup.com/wp-content/uploads/2020/07/2Q_2020_BVGLETTER.pdf" target="_blank">Boyar Group</a></li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202006.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf2q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf2q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/ief2q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f179f71130d4a67c0b7cc14/1595383665773/Q2+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2020/07/2020-Q2-CEF-Investor-Letter-2.pdf" target="_blank">Choice Equities Fund</a> - ($CELH, $APPS, $PINS, $CTRN, $TAST).</li><li><a href="http://choufunds.com/pdf/SEMI-AR%202020%20%28English%29.pdf" target="_blank">Chou Funds</a></li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2020+Q2+Letter.pdf" target="_blank">Coho Capital</a> - ($SPOT)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5efce03ba58d546e2e0f9e2b/1593630780199/Q22020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q2-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://www.docdroid.net/bFfeMjX/david-capital-partners-llc-letter-on-covid-19-2020-q2-pdf" target="_blank">David Capital Partners</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a> - ($COF, $BK).</li><li><a href="https://davisfunds.com/downloads/DGFPMComm.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFPMComm.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5efb340b8974eb3c8fb597aa/1593521163499/Del+Principe+O%27Brien+June+2020+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/fee3146b-2929-4ef2-a438-b026f217bccb/2020_Q2_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://dfdent.com/wp-content/uploads/2020/09/DF-Dent-063020-Annual-Report-FINAL-updated-3.pdf" target="_blank">DF Dent</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200630_Diamond-Hill_Small-Cap-Fund-Commentary-1.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/07/Q2-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/08/DKAM-ROE-Reporter-July-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_c1778ec658b04174856e4169cb505c0c.pdf" target="_blank">Emeth Value Capital</a> - ($BSM)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2020/" target="_blank">Ensemble Fund</a> - ($MASI, $NFLX)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_0.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200630.pdf" target="_blank">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200630.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200630.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200630.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://foragerfunds.com/wp-content/uploads/2020/07/Quarterly-Report_June-2020.pdf" target="_blank">Forager Fund</a> - ($CELH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-06.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q2.pdf?sfvrsn=14" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5f078ab33b43a56a3eb3feae/1594329782036/GCAM+Q2+2020+letter.pdf" target="_blank">Giverny Capital Asset Management</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q2%20Commentary/2020.02%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f1ce3f5ffc2762dc1e36675/1595728886611/Greenhaven+Road+Letter+%282020+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($GOGO, $LE, $IAC, $APPS, $KKR, $ESTC, $PAR)</li><li><a href="https://www.docdroid.net/8aEd6Ge/greenlight-2q20-letter-pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.08.18-Q2-2020-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/07/Greystone-Capital-Letter-H1-2020.pdf" target="_blank">Greystone Capital Management</a> - ($HIL, $RICK, $APG, $TRRVF, $MIXT</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/GE-2Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/IE-2Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-2Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-2Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q2.pdf" target="_blank">Hayden Capital</a> - ($AMZN, $SE)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($AAP, $RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($CNI, RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($MDC, $PLAB, $NFG)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SAH, $CCRN, $PCH)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q2NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Quarterly-Commentary_Q2-2020.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q20.pdf" target="_blank">Horos Asset Management</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/07/2020-Half-Year-JDP-Capital.pdf" target="_blank">JDP Capital</a></li><li><a href="http://investors.l1longshort.com/DownloadFile.axd?file=/Report/ComNews/20200720/02256558.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://l1international.com/wp-content/uploads/2020/07/06-2020-International-Fund-Quarterly-Report.pdf" target="_blank">L1 International Capital Fund</a> <a href="https://www.lrtcapital.com/wp-content/uploads/2020/07/2020-06-June-Performance-Update-Public.pdf" target="_blank">Capital</a></li><li><a href="https://www.docdroid.net/2ExPtjh/lakewood-capital-2020-q2-letter-pdf" target="_blank">Lakewood Capital Management</a> - ($HDS, $NSP, $ATH, $BLDP, $SLP, $SRNE)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f19a4d1e0b9f47a7f5974aa/1595516114278/Laughing+Water+Capital+1H%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/nlml7il3uj1purr/Lightsail%202Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($MMM)</li><li><a href="http://madison%20mid%20cap%20fund/" target="_blank">Madison Investors Fund</a> - ($MMC)</li><li><a href="http://madison%20investors%20fund%20-%20%28%24mmc%29/" target="_blank">Madison Mid Cap Fund</a> - ($IT, $LH, $MC).</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://www.docdroid.net/FGa8ior/maran-partners-fund-lp-2020-q2-letter1582-pdf" target="_blank">Maran Capital Management</a> - ($IAC)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2020/09/MVIP-Strategic-Growth-Commentary-2Q-2020.pdf" target="_blank">Mar Vista Investment Partners</a> - ($APH)</li><li><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202nd%20Quarter%20Letter%20to%20Investors.pdf?utm_medium=email&_hsmi=91107066&_hsenc=p2ANqtz-9LijGwDjSgj8jyqCenBnIBF47dmzsWi3IMjSFYI4FdU7JJBgy3y9ZYV2Hb0dIgRDoabuG10U1l5XThj0OJNeKKIwi9SQ&utm_content=91107066&utm_source=hs_email" target="_blank">Massif Capital</a> - ($HES, $RUN, $GOLD).</li><li><a href="https://www.mawer.com/assets/Newsletters/2Q20-Quarterly-Series-A-Net.pdf" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_aa805187f361412fa7b16ed0918e00e2.pdf" target="_blank">Merion Road Capital</a> - ($TRNS)</li><li><a href="https://millervalue.com/deep-value-strategy-2q20-letter/">Miller Value Fund</a> - ($BBBY, $NBR, $TMHC, $DXC).</li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q2_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a> - ($CRMLF, $CAR, $CCL, $REV, $CPXGF, $AZTEF)</li><li><a href="https://drive.google.com/file/d/1EY3GUJZn0WVXSuQy17mk1W5FYdOqL2Ry/view" target="_blank">MPE Capital</a> - ($WIX, $BRBOF).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/07/2020Q2.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($DOCU).</li><li><a href="https://drive.google.com/file/d/1vccfEmwX4ulExfEIrOE1IOB6uKeMU6QW/view" target="_blank">Nomadic Value Investment Partners</a></li><li><a href="https://www.nzscapital.com/s/NZS-Capital-Q2-2020-Letter.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2020/" target="_blank">Oakmark Fund</a> - ($RGA, $GD, $TMUS)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_a30dcf83719d44bba64d3b6e9f3f4345.pdf" target="_blank">Old West Investment Management</a> - ($FLGT).</li><li><a href="https://www.docdroid.net/bg0gNdv/pabrai-funds-q2-2020-pdf#page=7" target="_blank">Pabrai Funds</a></li><li><a href="https://www.palmvalleycapital.com/fundletter" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growt</a>h</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5f3b4cb88ea6a1347c012598/1597721787995/RF+Capital+Q2+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://www.rgaia.com/q22020-investment-commentary-the-tale-of-two-markets/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/67acd636-2e8e-4ba4-b038-d2c2d5805461/Rhizome_Partners_Q2_2020_Investor_Letter_Final.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q20.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($SNAP, $SHOP, $BILL, $AMZN, $TWLO, $CME, $IQV, $ZTS, $APO, $KKR, $MTN).</li><li><a href="http://riverpark%20large%20growth%20fund%20-%20%28%24snap%2C%20%24pins%2C%20%24uber%2C%20%24shop%2C%20%24bill%2C%20%24dxcm%2C%20%24rng%2C%20%24lmt%29.%20riverpark%20long/Short%20Opportunity%20Fund" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_2Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($BKNG, $BMT, $FB, $FLT)</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/08/Near-Term-Delusions-Long-Term-Collisions.pdf" target="_blank">RLT Capital</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan_Street_Capital_First_Half_2020_Letter.pdf" target="_blank">Rowan Street Capital</a> - ($SPOT)</li><li><a href="https://www.rvcapital.ch/post/co-investor-letter-h1-2020?cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6&utm_campaign=cadf75be-7334-4451-a092-5873c7ac02ac&utm_medium=mail&utm_source=so" target="_blank">RV Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c6eb517f46b24b9d8e9aad440f79ee19.pdf" target="_blank">Saga Partners</a></li><li><a href="https://www.saltlight.co.za/wp-content/uploads/2020/08/SaltLIght-2Q20-Letter-Final.pdf" target="_blank">SaltLight Capital</a> - ($COH.JO, CTK.JO)</li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ce3ae7fe-7fcc-4291-979b-4d30eb11a66a&Name=Q2_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="http://saturna%20capital%20saturna%20capital%20-%20amanafunds%20saturna%20capital%20-%20sextant%20funds/" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/b301205c-52a7-4f24-883c-1f3580537837/SilverRingValuePartners_2020Q2_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_7c247397881f467d9360d21885e78fb4.pdf" target="_blank">Spree Capital</a> - ($STNE, $WIX).</li><li><a href="https://srk-capital.com/content_files/2020/09/SRK-Fund-Q2-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/07/STJIC-Adviser-Letter-2020-Q2-Final.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $BSTC)</li><li><a href="https://taovalue.files.wordpress.com/2020/07/taovalue_2020_q2_final.pdf" target="_blank">Tao Value</a> - ($PDD, $YY, $AVLR, $CIH)</li><li><a href="https://langfrist.de/dokumente/H1_2020_E_Partners_Fund.pdf" target="_blank">TGV Partners Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAREX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TASCX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($WASH, $CKH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAVFX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Value Fund</a> - ($BKRIF, $IFSPF, $LUNMF, $CSFFF).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/08/Third-Point-Q2-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a> - ($BABA, $JD, $AMZN, $DIS, $PUK, $SPGI)</li><li><a href="https://drive.google.com/file/d/1nfnh_0ZD0IGbaB52zeQHGM4ESJTKJ5fQ/view" target="_blank">Tidefall Capital Management</a></li><li><a href="https://www.dropbox.com/sh/bkvnxsr7u27twgu/AABMPqyMuEORLDm6WSyqF7dla/Tollymore%20Q2%202020.pdf?dl=0" target="_blank">Tollymore Investment Partners</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q2.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202020%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f0dd29b6a8632767c30911b/1594741405126/Upslope+-+2020Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($RBA)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_61_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/07/VVP-Quarterly-Letter-20.06.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_a12f91a6fbfb4131afc3d1d848b4ae84.pdf" target="_blank">Wedgewood Partners</a> - ($AAPL, $BKNG, $BMY, $FB, $FLT)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Hickory Fund</a> - ($DLB)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/2q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5f0874ba8817e8400a707586/1594389693251/Quarterly+Letter+-+Q2+2020.pdf?utm_medium=email&_hsmi=91143433&_hsenc=p2ANqtz-8Ko2sOTz4bmQKkH-p3YIfULcolG5rwew-9bA1O9V_uN53WPygN_Q0fFs4scHhjzt3id6F-RguAoCQJ0AJnhDfYRrOHHA&utm_content=91143433&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">1st Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5eb05bb94b525e14b5bea7bc/1588616121738/Q1%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($GMS)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/04/Akre-Focus-Fund-Quarterly-Commentary-2020-Q1.pdf">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($EVBG, $EHTH, $QDEL, $CMD, $HSKA, $TCMD)</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a> - ($AMZN, $NVDA, $NFLX, $CBOE, $FB, $APPL, $V, $MDB).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/04/Alluvial-Capital-Management-Q1-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2020-q1.pdf">Alphyn Capital Management</a> - ($EXXRF, $BAM, $KKR, $BRFRF, $WANSF, $CDAY, $CFX, $OSSIF).</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5eab8f05c455f14a97fbcb32/1588301573873/Q1+2020+Alta+Fox+Capital+Quarterly+Letter-+Final+%281%29.pdf" target="_blank">Alta Fox Capital Management</a> - ($MMMB, $EVVTY, $GMMNF)</li><li><a href="https://drive.google.com/file/d/1y1uNGXNScAjx27rcd6yZf_U6GFWLtmVd/view">Andaz Private Investments</a></li><li><a href="https://ift.tt/2za22cd">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2020/02/APPLX-Q4-2019-Letter.pdf">Appleseed Fund</a> - ($HRTX, $NLY).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/45aea71a-f4d5-4f4b-98c2-44acc7934978/Arquitos_Investor_Letter_Q1_2020.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $SYTE, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($KMT, $NVST, $PGR).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/04/Arisaig-Quarterly-April-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTKX-APDKX-APHKX-QCommentary-1Q20-vR.pdf">Artisan International Value Fund</a> - ($BABA, $TCOM, $SLB, $TS, $SU, $SNE, $DANOY, $CNHI).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTMX-APDMX-APHMX-QCommentary-1Q20-vR.pdf">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTSX-APDSX-APHSX-QCommentary-1Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2020-partner-letter-X7QTZR97" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/04/Coronavirus-The-Cure-Is-Worse-Than-The-Disease.pdf">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.20.pdf">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.20.pdf" target="_blank">Baron Discovery Fund</a> - ($INGN, $QLYS, $FND, $SIEN, $PAR, $TXMD, $EVBG, $KTOS, $PENN, $AXNX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.30_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.2020.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.20.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_3_31_bca_scv_marketcomm_final.pdf" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $MEDP, $SP, $CNK, $PLOW, $CRNC, $TREE, $SERV).</li><li><a href="https://s3.amazonaws.com/bireme/1Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $BKNG, $WFC, $RICK, $KRG)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/04/Investor-Letter-Q1-20-FINAL.pdf">Blue Hawk Investment Group</a> - ($MSFT, $MTCH, $NFLX, $EA, $INTU, $ISRG, $V, $FB, $CHTR, $FND, $STZ, $NYT, $SPLK, $LULU).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e93edd2125a911e469ed339/1586752979541/2020+Q1.pdf">Blue Tower Asset Management</a></li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/762bb2f1-3530-4df8-9178-1acf0c0568f6/0520_Bonhoeffer_Partner_Letter_Q1_2020.pdf" target="_blank">Bonhoeffer Fund</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4595129/1Q_2020_BVG%20Letter.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=87095134&_hsenc=p2ANqtz-8G6GJm2tQ-xl7UIJ2SOoumqTKP4AhC-pkmfW5viIuwNsaxl8CcHOkHkKE0NZfnwUAC6TZZuSUzpyAM76WVz55zUySpCQ&_hsmi=87095134" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf1q20commentary.pdf">Brown Capital Management Mid Company Fund</a> - ($DXCM, $SHOP, $NCLH, $BFAM, $TDOC)</li><li><a href="https://browncapital.com/system/files/scf1q20commentary.pdf">Brown Capital Management Small Company Fund</a> - ($QDEL, $VEEV, $MANH, $PRO, $PLAN, $DDOG, $KIDS, $INCY).</li><li><a href="https://browncapital.com/system/files/ief1q20commentary.pdf">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q20commentary.pdf">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/04/Broyhill-Portfolio-Update-2020.Q1-FINAL.pdf" target="_blank">Broyhill Asset Management</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://cedcapital.in/wp-content/uploads/2020/04/Quarterly-PMS-Letter-Mar20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e85354c10a8a95136c22668/1585788237400/Q12020.pdf">Comus Investments</a></li><li><a href="https://www.crescat.net/wp-content/uploads/Q1-2020.pdf" target="_blank">Crestcat Capital</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/ecf4cd6f-3eb2-4b0c-8efb-1f9d281cfd7f/2020_Q1_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200331_Diamond-Hill_Small-Cap-Fund-Commentary.pdf">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/dcp_1q20_update" target="_blank">Distillate Capital</a></li><li>D<a href="https://mcusercontent.com/90031b83688dd5c83d79fcf31/files/a3202ae7-9dca-471c-94ed-340f07250b85/DKAM_ROE_Reporter_April_2020_.pdf" target="_blank">onville Kent Asset Management</a></li><li><a href="https://www.docdroid.net/kfBxxVh/elliot-letter-april-162020-perspectives-paul-singer-elliott-pdf#page=9">Elliot Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2020/" target="_blank">Ensemble Fund</a></li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2020.pdf">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/04/16115847/Client-Letter-Q1-2020_FINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://ift.tt/2VWR7dz" target="_blank">Firebird Management</a></li><li><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_Gold-Update.pdf" target="_blank">First Eagle Global Fund</a></li><li><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200331.pdf">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200331.pdf">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200331.pdf">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200331.pdf">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-03_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NBL, $VNOM, $ISBC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-update-q1-2020.pdf?sfvrsn=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/2020-3-fef-letter-to-shareholders.pdf?sfvrsn=12">Fundsmith Equity Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5e8f6c4e02b8fa04bead5904/1586457686283/GCAM+initial+letter+2020-03-27.pdf" target="_blank">Giverny Capital Asset Management</a> - ($GOOG, $GOOGL, $KMX, $BRK.B, $PGR, $SCHW, $SSNC, $HEI, $MKL, $ANET)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ea425773459dd34b66cf263/1587815799646/Greenhaven+Road+Letter+%282020+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($SHSP, $APPS, $KKR, $PAR, $KLR, $CSSE, $OPT)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.05.10-Confessions-v3.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4043042/Commentaries/2020.Q1%20Commentary/2020.Q1%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-1Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-1Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q1.pdf" target="_blank">Hayden Capital</a> - ($IBKR, $CVNA)</li><li><a href="http://m.heartlandadvisors.com/mid-cap-value-fund-q1-commentary.pdf" target="_blank">Heartland Mid Cap Value Fund</a> - ($WU, $PXD, $AAP)</li><li><a href="http://m.heartlandadvisors.com/select-value-fund-q1-commentary.pdf" target="_blank">Heartland Select Value Fund</a> - ($GRC, $CALM, $JNJ)</li><li><a href="http://m.heartlandadvisors.com/value-fund-q1-commentary.pdf" target="_blank">Heartland Value Fund</a> - ($MDU, $MDC,$EVTC)</li><li><a href="http://m.heartlandadvisors.com/value-plus-fund-q1-commentary.pdf" target="_blank">Heartland Value Plus Fund</a> - ($IDCC, $HTLD)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q1NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2020-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($BA, $ADM, $CRL, $ICE, $BTC).</li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q20.pdf" target="_blank">Horos Asset Management</a> - ($TGP, $TK, $GLNG, $AER, $NPSNY).</li><li><a href="https://www.dropbox.com/s/nqwe7xcvwjfxysy/Huffman%20Prairie%20-%201Q2020%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/02/2019-Annual-Letter-JDP-Capital-Management.pdf">JDP Capital</a> - ($SPOT, $STNE, $XPO)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5ea5f560592a27104f5c8cf0/1587934561140/Laughing+Water+Capital+Q1%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/ofrydh35bl0xctw/Lightsail%201Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/ltglobal-equity-fund/LTGEF_Latest.pdf">Lindsell Train</a>- ($WWE, $DIS, $DEO, $BF.A, $EBAY, $PYPL, $INTU)</li><li><a href="https://southeasternasset.com/commentary/1q20-llpf-commentary/">Longleaf Partners Fund</a> - ($H, $DD, $CTL, $CNHI, $PK, $CKHUY, $MAT).</li><li><a href="https://southeasternasset.com/commentary/1q20-llgl-commentary/">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llin-commentary/">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/04/2020-03-March-Performance-Update-Public.pdf">LRT Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a> - ($CSL).</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5ea1a3fb6d7e355e7a72a301/1587651580748/Maran+Partners+Fund+LP+2020+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20First%20Quarter%20Letter%20to%20Investors.pdf?utm_source=hs_email&utm_medium=email&utm_content=86138479&_hsenc=p2ANqtz-85M_ZqQO42g6PDwSL7bISxrDZM6OIQj5JzJ9uWzZx5Pf0pU87NtPhlX2MKkKLQ0F5775rJ5yF6-0W92JiA-wFdmFYs5g&_hsmi=86138479">Massif Capital</a></li><li><a href="https://www.mawer.com/assets/Newsletters/1Q20-Quarterly-Series-A-Net-1.pdf">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_b57612e6cdaa48429a600bdfe37560c4.pdf">Merion Road Capital</a> - ($CPRT, $EVBG, $RMCF)</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2020_03.pdf">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2020_03.pdf">Moneta MultiCaps C</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/04/2020Q1.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($GSK)</li><li><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2020/">Oakmark Fund</a> - ($AXP, $MTCH, $PINS, $WDAY)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2020/">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2020/">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d588a8b5d90047478bfcd71d0c8dd0a1.pdf">Old West Investment Management</a></li><li><a href="https://drive.google.com/file/d/1tD5XOGaM8cls4v95DSXFF131OYYpAMxE/view" target="_blank">Open Square Capital</a></li><li><a href="https://www.osam.com/pdfs/research/OSAM%20Update_Blizzard,%20Winter,%20or%20Ice%20Age_FINAL.pdf">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a> - ($AAP, $AGI, $BHE, $CRI, $CASS, $DKS, $EZPW, $GENC, $HCSG, $HP, $SLV, $KELYA, $OR, $SCHL, $SKX, $SP, $SYKE, $UNF, $UG, $WMK).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ABT, $BKNG, $FB, $ORLY, $ADSK, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5ea714f9981de6313a251243/1588008188839/RF+Capital+Q1+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/a591f71a-64ef-4ca1-80dc-2ea2a4646172/Rhizome_Partners_Q1_2020_Investor_Letter_Final.pdf">Rhizome Partners</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/04/Q1-2020-Investment-Commentary-FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($NUAN)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q20.pdf">RiverPark Large Growth Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_1Q20.pdf">RiverPark Long/Short Opportunity Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT, $COST, $APO, $KKR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_1Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($FAST, $KEYS, $MSFT, $ROSS).</li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan-Street-Capital-Q1-2020-Letter-1.pdf" target="_blank">Rowan Street Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_4ad59d00e289448cabcd6a61a130760e.pdf" target="_blank">Saga Partners</a> - ($AYX $CVNA $DBX $FB $LGIH $LIMAF $TTD $TRUP $VSEC $WIX)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q1-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q1-2020-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q1-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://moiglobal.com/wp-content/uploads/Semper-Vic-Partners-L.P.-Letter-to-Investors-April-2020.pdf" target="_blank">Semper Vic Partners</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ee82efca-a8be-4855-b3e0-e3ba3069a318&Name=Q1_2020_-_Investor_Letter">Sequoia Fund</a></li><li><a href="https://smeadcap.com/files/7915/8696/1388/1Q_2020_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://srk-capital.com/content_files/2020/05/SRK-Fund-Q1-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/04/STJIC-Adviser-Letter-2020-Q1.pdf">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ff8c300-0ef4-4034-914b-cbd5c86d581d/Steel_City_Capital_1Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/1Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a></li><li><a href="https://taovalue.files.wordpress.com/2020/05/taovalue_2020_q1_final-1.pdf" target="_blank">Tao Value</a> - ($GILD, $CACC, $ADS, $NXRT, $$BILI)</li><li><a href="https://static1.squarespace.com/static/54ce2abfe4b0513e12ea592f/t/5e886ec613e1233cd43c8cae/1585999558895/Templeton+and+Phillips+Commentary+-+March+2020.pdf">Templeton and Phillips Capital Management</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a> - ($CALM, $CET, $BATRA, $BATRK).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAVFX-Shareholder-Letter-Web.pdf">Third Avenue Value Fund</a> - ($BMWYY, $DB, $IFSPF, $HA, $ORI, $FDX, $VNO)</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/04/Third-Point-Q1-2020-Investor-Letter-TPOI-1.pdf" target="_blank">Third Point</a></li><li><a href="https://drive.google.com/file/d/1jshHJg_zQ30ZvmrU8iBTIBX9zE6CDtdo/view" target="_blank">Tidefall Capital Management</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q1.pdf">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202020%20-%20Final.pdf">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e99e67f7f671d105bf293af/1587144320124/Upslope+-+2020Q1+Letter.pdf" target="_blank">Upslope Capital Management</a></li><li><a href="https://www.docdroid.net/q7NxMcX/universa-investments-q1-2020-letter-pdf#page=6">Universa Investments</a></li><li><a href="https://mcusercontent.com/2686100c548ffa2b413d5cb29/files/3cb819ec-c2d9-4ff5-870b-cc86b4d93fbd/Vltava_Fund_Letter_to_Shareholders_Q1_2020.pdf">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/04/VVP-Quarterly-Letter-20.03.31.pdf">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q1-2020-REV-FNL.pdf">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200406/pdf/44gqxsc6q8zjdy.pdf">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f47cdae028142f1ade840f42986ab09.pdf">Wedgewood Partners</a> - ($FAST, $FB, $KEYS, $MSFT, $ROSS, $NVDA, $EA, $BKNG, $EW).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/1q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://mcusercontent.com/d194e1b3fd218137abdb074da/files/90c79ff7-93d3-49ac-9da6-1f1ea8209ae0/2020_04_16_White_Crane_Q1_2020_Letter.pdf">White Crane Capital</a></li><li><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/securepdfs/2020/04/23094734/Wolf-Hill-Q1-2020-Letter.pdf" target="_blank">Wolf Hill Capital</a> - ($HGV, $MIDD)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5ea1a3a3bc77342600cf7649/1587651493472/Worm+Capital+-+Q1+2020+Investor+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><span style="font-size: large;"><br /></span><span style="font-size: large;">4th Quarter 2019</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5e35af9e12c5156ca6085326/1580576670740/Q4%2719+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($ISDR, $RICK, $TSSI, $DPZ)</li><li><a href="https://drive.google.com/file/d/1ANcyf36aA9H83xfjYF3N5Z6Rc2YaS75q/view" target="_blank">2Point2 Capital</a></li><li><a href="https://gallery.mailchimp.com/f6660ee7c7b25c0643c0e8337/files/53f90575-0084-456e-b563-3e47282ae860/Admiral_Cap_4Q19_Letter.pdf">Admiral Capital Partners Fund</a> - ($CVNA, $GDDY, $GTT).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/01/Alluvial-Capital-Management-Q4-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $CRAWA, $BUKS, $NUVR, $LICT)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5e3633d4cd5a0d4354e18334/1580610521595/Q4+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q4.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://drive.google.com/file/d/1OSNsquPrryvmnAYEPpfK8VMGtb5qSILE/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://ift.tt/2TwwgOx" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($ARDX, $SAVE, $MOS, $SINA, $SNE, $RYAAY).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Funds</a> - ($CCL, $NLSN).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/APFDX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTMX-APDMX-APHMX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($SWKS, $TW, $CMS, $UA, $ABMD, $ZS, $BURL, $AMD, $ANET, $SERV, $DXCM).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTSX-APDSX-APHSX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTLX-APDLX-APHLX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2019-partner-letter-w57TvkLz" target="_blank">Artko Capital</a> - ($MO, $REPH, $GAIA, $RSSS)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/02/2020-02-17-Askeladden-Capital-Q4-2019-Letter-Breaking-Bad.pdf">Askeladden Capital</a></li><li><a href="https://content.rwbaird.com/RWB/Content/PDF/AssetManagement/Q3-2019-Mid-Cap-Growth-Mutual-Fund-Commentary.pdf">Baird MidCap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Asset Fund</a> - ($DXCM, $SAGE).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Discovery Fund</a> - ($PGNY, $ESPR, $SIEN, $SITE, $ICHR, $TXMD, $MRCY, $FSCT, $TCMD, $SCPPF, $OLLI, $BRP, $CDNA).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%2012.31.19_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Real%20Estate%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="http://www.bernzott.com/uploads/1/5/9/5/15953620/2019_12_31_bca_scv_marketcomm.pdf?utm_source=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $PLOW, $LOGM, $MG, $MIK, $CNK, $CTLT, $EPAM, $AGS).</li><li><a href="https://s3.amazonaws.com/bireme/4Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a> - ($KRG, $DNKN)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/01/Q4-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e2e81226ba9076709046053/1580106019545/2019+Q4.pdf" target="_blank">Blue Tower Asset Management</a></li><li><a href="http://boyarvaluegroup.com/bvg-pdf/4Q_2019_BoyarResearch.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=82628381&_hsenc=p2ANqtz-_eFJS4AvVpyZPJ93cqx7hT_a3Ecgy_iQ8I_KJWvq6pyI5hY8KWOrRF3lJXq2wgq7vsVrrVKm3ExXWqv88qtB2prmxWqg&_hsmi=82628381" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf4q19commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf4q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($VEEV, $GKOS, $TNDM, $SMAR).</li><li><a href="https://browncapital.com/system/files/ief4q19commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf4q19commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/02/The-Broyhill-Letter-2020.02-FINAL.pdf">Broyhill Asset Management</a></li><li><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2020/01/bumbershoot-holdings-2020-1-jan-letter-to-partners-2019-1.pdf" target="_blank">Bumbershoot Holdings</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://citronfund.com/wp-content/uploads/2020/01/Citron-Capital-Annual-Investor-Letter-for-2019.pdf" target="_blank">Citron Capital</a> - ($RH, $PTON).</li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2019+Q4+Letter.pdf">Coho Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e181bff65c626738a349429/1578638336674/FY2019.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($YUMC, $FRRVF, $PTC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5e3048cf9826d330d5c2854e/1580222671293/Q4+and+YE+2019+Letter.pdf" target="_blank">Curreen Capital</a></li><li><a href="https://danwang.co/2019-letter/" target="_blank">Dan Wang</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a>.</li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFAnnualReview.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYVFPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Midcap-Letter-4Q19.pdf" target="_blank">DF Dent Midcap Growth</a> - ($ODFL, $TWLO, $VEEV, $ANSS, $MCO, $CBRE, $VRSK, $VMC, $MKL).</li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Small-Cap-Letter-4Q19.pdf" target="_blank">DF Dent Small Cap Growth</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/191231_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/90031b83688dd5c83d79fcf31/files/48eecab4-b7af-4d56-8e05-f3d54f33d10f/DKAM_ROE_Reporter_January_2020_.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://www.nsx.com.au/ftp/news/021737727.PDF" target="_blank">East 72 Holdings</a></li><li><a href="https://gallery.mailchimp.com/dd77d6a119e511a93e9308144/files/98e445bf-1c22-4a23-8a6b-1d71d798899f/Edgebrook_Mid_Year_Letter_2019.pdf" target="_blank">Edgebrook Partners</a> - ($APEUF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2019/" target="_blank">Ensemble Fund</a> - ($PAYX, $BR)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2019.pdf">Evermore Global Value Fund</a> - ($IAC, $MTCH, $ANGI, $STNG, $KRA, $ENZ).</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15183252/Q4-2019-Broadview-Dark-Horse-Quarterly-Letter.pdf" target="_blank">Ewing Morris Dark Horse</a> - ($LQSIF)</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15170401/Q4-2019-Final-1.pdf" target="_blank">Ewing Morris Opportunities Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-12_final.pdf?sfvrsn=8">FPA Capital Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2019.pdf?sfvrsn=6" target="_blank">Fundsmith Equity Fund</a></li><li><a href="http://gatorcapital.com/wp-content/uploads/2020/01/GFP-Q4-Investor-Letter-Updated.pdf" target="_blank">Gator Capital Management</a></li><li><a href="http://www.givernycapital.com/en/doc/236/Giverny_Capital_-_Annual_Letter_2019_web_.pdf">Giverny Capital</a></li><li><a href="http://www.goodhavenfunds.com/media/pdfs/2019_AR.pdf" target="_blank">GoodHaven Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5e4703048934db2c06ec56ae/1581712134756/Greenhaven+Road+Letter+%282019+Q4%29.pdf">Greenhaven Road Capital</a></li><li><a href="https://www.scribd.com/document/443770600/Greenlight-Q4-2019#download&from_embed" target="_blank">Greenlight Capital</a> - ($AER, $AGO, $ATC, $BHF, $CC, $GM, $GRBK, $NFLX, $DXC).</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.01.23-Q4-Letter-v5.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-4Q19-Report.pdf">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2019/IE-4Q19-Report.pdf">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2019/ISC-4Q19-Report.pdf">Harding Loevner International Small Companies Equity</a> - ($GUZOF, $ALICORC1, $PGENY).</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-4Q19-Report.pdf">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q4.pdf">Hayden Capital</a> - ($SE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($LEG, $EXC, $UMBF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SCHW, $GTS, $CONE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TBBK, $AMRC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($ASB, $PAHC)</li><li><a href="http://www.hgcinvest.com/wp-content/uploads/2020/01/HGC-Arb-Letter-December-2019.pdf" target="_blank">HGC Investment Management</a> - ($GSAC, $DEAC).</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2019Q4NP.pdf">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q4-2019-Horizon-Kinetics-Commentary_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q19.pdf">Horos Asset Management</a></li><li><a href="https://www.dropbox.com/s/wj5xngs5dpjc0la/Huffman%20Prairie%20-%202H2019%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a> - ($PKE)</li><li><a href="https://l1international.com/wp-content/uploads/2020/01/L1-Capital-International-Fund-Quarterly-2019-12.pdf" target="_blank">L1 Capital International Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5e3b0e94a8e0ad4a457d4a5e/1580928660765/Laughing+Water+Capital+YE+2019.pdf">Laughing Water Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/lt-uk-fund/2019/LTUK_MR_2019_12.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5e33310f6cac3d0b6f0a070d/1580413200079/4Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $CTEK, $SFE, $PESI)</li><li><a href="https://southeasternasset.com/commentary/4q19-llpf-commentary/">Longleaf Partners Fund</a></li><li><a href="https://www.lyricalam.com/wp-content/uploads/2020/01/LAM-2019-Review-letter.pdf" target="_blank">Lyrical Asset Management</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5e323c32f8043d0750f9a1f1/1580350515744/Maran+Partners+Fund+LP+2019+Q4+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RNGR, $SDI).</li><li><a href="https://www.mcmadvisors.com/wp-content/uploads/2020/01/Martin-Capital-Management-2019-Annual-Report.pdf" target="_blank">Martin Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Year%20End%20Letter.pdf?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-8wWAtvLCSJ92jhQUdjS_UF5sLUTcGZPdtnlxPMJfKIFGmlgVgnj1U2Yj9GHeBoCbudkm9l" target="_blank">Massif Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_4b6d6eb57e724504b2acd6925fe444a6.pdf" target="_blank">Merion Road Capital</a> - ($TTWO, $ODP)</li><li><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf">Miller Value Fund</a> - ($FTCH, $ET, $CDEV).</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2019_12.pdf" target="_blank">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2019_12.pdf" target="_blank">Moneta MultiCaps C</a></li><li><a href="https://drive.google.com/file/d/1HXfARV-D0Ty0LjixHFdMQc9keEOyV3XN/view" target="_blank">MPE Capital</a> - ($CACC).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/01/2019-Nelson-Roberts-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($IBM)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Fourth-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_1eee8738221f439bacc164cda1472ccf.pdf">Old West Investment Management</a> - ($GOLD)</li><li><a href="https://www.osam.com/pdfs/research/Q4%202019%20Investor%20Letter%20-%20FINAL.pdf" target="_blank">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmharbourcapital.com/files/PHC%20Q4%202019%20Letter.pdf" target="_blank">Palm Harbour Capital</a></li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_7f7cfd9362f1496597164ec1ee5a1757.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/dab30c88-52e6-425d-94a0-2f672f543d3f/4Q19%20Parnassus%20Core%20Equity%20Fund%20Commentary.pdf">Parnassus Core Equity Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/fc4897bd-50cb-43fb-9296-bddb814716c6/4Q19%20Parnassus%20Mid%20Cap%20Fund%20Commentary.pdf">Parnassus Mid Cap Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $CRM, $ABT, $NOW, $ORCL).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Global Growth</a> - ($MSFT, $BABA, $ABT)</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5e66d8317891847c6cd48c38/1583798321575/RF+Capital+Q4+2019+Investor+Letter.pdf">RF Capital Management</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/01/2019-Year-End-Commentary_FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($ANGI, $DBX, $GRUB, $TWTR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($AAPL, $UNH, $BX, $MSFT, $ADSK, $SDC, $TWTR, $NOC, $TDC, $TWLO).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_4Q19.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_4Q19_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/01/Dont-Cha-Know.pdf" target="_blank">RLT Capital</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Fund.pdf">RMB Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Small-Cap-Fund.pdf">RMB Small Cap Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-SMID-Cap-Fund.pdf">RMB SMID Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/aaf68a26-7a10-4c45-bfe1-fb0cb97b85d1/Saber_Investment_Fund_Q4_2019_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c69e35b055894d1aad827cde8423bc2f.pdf">Saga Partners</a> - ($TTD, $LIMAF, $FB, $LGIH, $VSEC, $CVNA)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q4-2019-web.pdf">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q4-2019-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q4-2019-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://static.fmgsuite.com/media/documents/c388840b-3dda-41da-a062-077bf785255b.pdf">Semper Augustus</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=7a947f03-c188-49d6-b32f-9cddfe5ebb9a&Name=Q4_2019_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://gallery.mailchimp.com/57cdfc490b101d54b70128c06/files/a813a300-8f68-43cb-8b3d-2fa28aed58fb/SilverRingValuePartners_2019Q4_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/files/9315/7910/2122/4Q_2019_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://www.socialcapital.com/annual-letters/2019.pdf">Social Capital</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_d91d278701ba4b21afd564ffabb36d1f.pdf" target="_blank">Spree Capital</a> - ($RST, $MTCH, $FERGY).</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2019-Annual-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($TARO, $EGRX, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2020/02/taovalue_2019_q4_final.pdf">Tao Value</a></li><li><a href="https://www.langfrist.de/dokumente/2019_e_Rubicon_full.pdf" target="_blank">TGV Rubicon Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($GPOR.L, $HHC, $PSA, $VNO, $SRG, $FPH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BMWYY, $DB, $MAC).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/01/Third-Point-Q4-2019-Letter-TPOI-Final.pdf" target="_blank">Third Point</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2019-Q4.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://mcusercontent.com/2506bda6ca9a8b7ce8b3c54b4/files/0c17bc16-6a20-4c24-8459-53e800315fe7/TARF_2019_Annual_Commentary_vFinal.pdf" target="_blank">Tyro Capital Management</a> - ($MO, $REPH, $SKY, $SMCI, $MTCH, $UBSFF, $BXC, $MYOV)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e209a872cfe3e653d0bd4bd/1579195017065/Upslope+-+2019Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FOCS, $DLTR)</li><li><a href="https://www.dropbox.com/s/lgqbpo4oownzo5m/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q4%202019%20%28V1.1%29.pdf?dl=0&utm_source=The+Vilas+Fund%2C+LP&utm_campaign=d48e03b6f7-4Q2019+Main&utm_medium=email&utm_term=0_d81d32d2af-d48e03b6f7-431110445" target="_blank">Vilas Fund</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_58_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200108/pdf/44d49tnm31r1hz.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_b41d00a2669749f4babb2c468e820ecd.pdf" target="_blank">Wedgewood Partners</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners III Opportunity Fund</a> - ($SIRI, $LSXMB, $EVREF).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/ds32xz73grnzqbxdargxzancsg91q7it" target="_blank">White Brook Capital</a></li><li><a href="https://gallery.mailchimp.com/d194e1b3fd218137abdb074da/files/a8558333-dad0-40c8-8abd-8468fb20e0f9/2020_01_21_WCMSF_Q4_2019_Letter.pdf" target="_blank">White Crane Capital</a></li><li><a href="https://www.docdroid.net/tJT1NRd/wolf-hill-2019-year-end-letter.pdf" target="_blank">Wolf Hill Capital</a> - ($CNR, $REGI, $WTSHF)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5e1d007471426f2f29068da4/1578958966239/Worm+Capital+2019+Year+End+Letter.pdf" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">3rd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/10/Alluvial-Capital-Management-Q3-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $LICT, $NUVR, $APTL, $NORSA, $PIOE, $MHGU, $ITD.IM, $EDAC.IM, $SIO.IM)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5db8fdd21b54db1101ac3c18/1572404691231/Q3+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($KRMD, $KYYWF, $STKS)</li><li><a href="https://www.docdroid.net/I8sosdq/andaz-notes-2019-09-30.pdf" target="_blank">Andaz Private Investments</a> - (CBS.B, $VIAB)</li><li><a href="https://ift.tt/35Tb1KD" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($SINA, $WB, $MOS, $SAVE, $ARDX, $SNE, $RYAAY)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/eb95b5c5-e141-4f87-b0d5-95d5e1a7a2a5/Arquitos_Investor_Letter_Q3_2019.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BX, $BWA, $DIFTY, $ZBH)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTMX-APDMX-APHMX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($ALXN, $EXAS, $GDI, $GWRE, $CTLT, $BURL, $PAGS, $LHX, $ANET, $ASND)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTSX-APDSX-APHSX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-3q-2019-partner-letter-EvrTnLGB" target="_blank">Artko Capital</a> - ($FTK, $LEAF, $SKY, $USAT, $EEI, $SPAR)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/11/2019-10-28-Askeladden-Capital-Q3-2019-Letter-Earn-It.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Asset Fund</a> - ($CCC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Discovery Fund</a> - ($TXMD, $FND, $TREX, $MRCY, $KNSL $VRAY, $SILK, $BE, $CDNA, $TPIC, $MDLA, $PING, $WMS, $VRNS, $INGN)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Investor%20-%20Baron%20Small%20Cap%20Fund%203Q19.pdf" target="_blank">Baron Small Cap Fund</a> - ($CDAY, $CCC, $COLD)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $SP, $PLOW, $OI, $AGS, $QUOT,$ CTLT, $EPAM, $KN, $CLDR, $AGS, $GNRC)</li><li><a href="https://s3.amazonaws.com/bireme/3Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $COKE)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/10/Q3-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($SFIX, $GRUB, $MTCH, $NFLX)<span id="goog_146329209"></span><a href="https://www.blogger.com/"></a><span id="goog_146329210"></span></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5dad22ac218aa17443c4035b/1571627692663/2019+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2d3eecc8-c31e-45c7-8c24-e0e1a8269ac3/1019_BCM__Partner_Letter_Q3_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $CAMB.LN)</li><li><a href="https://browncapital.com/system/files/scf3q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($TYL, $MANH, $ABMD, $INGN)</li><li><a href="https://browncapital.com/system/files/mcf3q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a> - ($EW, $TYL, $ALGN, $ULTA, $MKTX, $CRL, $JBHT)</li><li><a href="https://browncapital.com/system/files/ief3q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a> - ($CZMWF, $ESLOY, $QGEN, $IPSEF, $MONOY)</li><li><a href="https://browncapital.com/system/files/iscf3q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/10/2019-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> ($RUBI, $BXC, $HOME, $QMCO)</li><li><a href="https://drive.google.com/file/d/1jzHBEfehpV9TfzwFhiGl91UMVtnGwWjS/view">Compound Everyday Capital</a></li><li><a href="https://gallery.mailchimp.com/a6cd0be2415ea775a57718587/files/14809e7f-2f16-4cb8-8fb3-8c589f63c6ed/50._Q3_2019.pdf" target="_blank">Compound Money Fund</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5db88acf71786e4ef3228683/1572375248129/2019Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($IPGLF, $NVST, $A, $FRC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5da0d2a16603d478b62581b4/1570820769906/Q3+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($GTX, $KTB, $MFGP, $BLD)</li><li><a href="https://davisfunds.com/downloads/DFFInterview.pdf" target="_blank">Davis Financial Fund</a></li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a> - ($JD, $AMAT)</li><li><a href="https://davisfunds.com/document/read/DNYPMComm" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/bf83181f-b69f-4ece-a640-a4007c15ed07/Q3_2019_Investor_Letter_Desert_Lion_Capital.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/190930_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/10/E72-Quarterly-Report-Sept-2019.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $DTLA, $FFXDF, $VULC, $PICO)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2019/" target="_blank">Ensemble Fund</a> - ($MA, $TIF)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2019.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2019/10/07164955/Quarterly-Update-Q3-2019.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/funds/shrpt/ann_shrpt_093019.pdf" target="_blank">Fiduciary Management FMI Large Cap</a> - ($HDS)</li><li><a href="https://t.co/3lQBLZ89rY?amp=1" target="_blank">Firebird Management</a> - ($LNC, $GES)</li><li><a href="https://focusedcompounding.com/wp-content/uploads/2017/06/Q3_2019_Letter_to_Clients-1.pdf" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI, $TPHS, $KEWL, $MLP)</li><li><a href="https://www.asx.com.au/asxpdf/20191011/pdf/449dftp5k138nd.pdf" target="_blank">Forager Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2019-q3b0f6f4531b0367849d6cff0000f7084a.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-09.pdf?sfvrsn=8" target="_blank">FPA Capital Fund</a> - ($AMBA, $NBL, $DAN, $IDCC)</li><li><a href="http://gatorcapital.com/wp-content/uploads/2019/10/GFP-Q3-Investor-Letter.pdf" target="_blank">Gator Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5daa7eaeab96a61181bef76f/1571454639744/Greenhaven+Road+Letter+%282019+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($NTDOY, $CSSE, $KKR, $BXC, $APPS, $PAR, $SHSP, $GIGRT, $GIGWS)</li><li><a href="https://www.docdroid.net/hM7Tnw8/qlet2019-032.pdf" target="_blank">Greenlight Capital</a> - ($NFLX, $TSLA, $CC)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.11.14-Q3-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://ift.tt/34FFgn5" target="_blank">Goehring & Rozencwajg</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q3.pdf" target="_blank">Hayden Capital</a> - ($CACC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a></li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SAFM, $MHK, $CVS)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($VST, $LNDC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a></li><li><a href="https://www.docdroid.net/pCmtahr/hellerhouseopportunityfund-2019q2letter-public.pdf#page=17" target="_blank">Heller House Opportunity Fund</a> - ($SHOP $WORK $ROKU)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://www.dropbox.com/s/l24e3ilw0j2kkyq/Lightsail%203Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/investment-insights/2019/Are%20You%20Experienced%20-%20November%202019.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5db9dbd123316d682a695a20/1572461522295/3Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $PSSR, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/3q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CTL, $GOOG, $GOOGL, $CMCSA, $GE, $FDX, $FRFHF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5db9f8173907823b364ebba8/1572468760093/Maran+Partners+Fund+LP+2019+Q3+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RCMT)</li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Third%20Quarter%20Letter%20to%20Investors.pdf" target="_blank">Massif Capital</a> - ($DO, $TOO, $EAF, $DE, $UNP, $CSX, $NCLH)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_adb2e39184484fd5a9374a1b8ddad5fe.pdf" target="_blank">Merion Road Capital</a> - ($HXL, $IAA, $TRNS)</li><li><a href="https://www.hvst.com/organization/meson-capital-partners-llc/posts/meson-q3-update-man-vs-machine-wPZT3xZx" target="_blank">Meson Capital</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2019Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/10/2019-Q3-Nelson-Roberts-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($SIVB, $SCHW, $AKAM, $PFE, $DLR)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Third-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a> - ($GOOG, $CHTR, $DDAIF, $APA)</li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_fe35b044b6f9420aa65670c4b7dfbf7f.pdf" target="_blank">Old West Investment Management</a></li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_2044e47207184e0a96223be92f96d4b5.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.B, $CRD/B, $GENC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $IT, $MSCI)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a> - ($ALGN, $ABT, $SGSOY)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a> - ($TREX, $FND, $LMAT, $FOXF, $OLLI, $TREE, $APPF, $ALTR)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://files.constantcontact.com/07cbbb80601/d7746d56-0340-44ba-b2d3-fb41d43a159a.pdf" target="_blank">Rangeley Capital</a> - ($CHTR)</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5db930e3f152967e525fbd89/1572417764733/RF+Capital+Q3+Letter+2019.pdf" target="_blank">RF Capital Management</a> - ($FL, $GAPFF, $ZAGG, $GME, $GTX)</li><li><a href="http://www.rgaia.com/q32019-investment-commentary-kambi/" target="_blank">RGA Investment Advisors</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($GOOG, $BX, $AAPL, $NOC, $EQIX, $EXAS, $ALGN, $AMZN, $SDC, $ULTA, $TWLO)</li><li><a href="http://www.rmbcap.com/files/RMB_Core_Equity_-_Investor_Letter_3Q19.pdf" target="_blank">RMB Core Equity Fund</a></li><li><a href="https://themarketplunger.com/2019/11/12/q3-2019-letters/" target="_blank">Rockvue Capital</a> - ($UAA, $FOX)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/4d8542a4-48be-4664-bc79-6506621e8100/Saber_Investment_Fund_Q3_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_7f9545a28a0a48129a7920980b5b2f27.pdf" target="_blank">Saga Partners</a> - ($VSEC)</li><li><a href="https://sevencanyonsadvisors.com/resources/seven-canyons-world-innovators-quarterly-commentary/" target="_blank">Seven Canyons World Innovators</a></li><li><a href="https://docs.wixstatic.com/ugd/de07f6_0c03e7d62d824ca98a96fa974471a7fb.pdf" target="_blank">Spree Capital</a> - ($CFX, $CARS)</li><li><a href="https://srk-capital.com/content_files/2019/11/SRK-Fund-Q3-2019.pdf" target="_blank">SRK Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($SLGD, $BSTC, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2019/10/taovalue_2019_q3_final.pdf" target="_blank">Tao Value</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/11/2019-Q3-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($CLNY, $GWW, $HNGKY)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CTB, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2019/10/Third-Point-Q3-2019-Letter-TPOI-.pdf" target="_blank">Third Point Offshore Fund</a> - ($ESLOY, $SNE)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5da981abd30f37336bb612b3/1571389868322/Tollymore+letter+Sep+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($GRUB)</li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Fund</a> - ($KRNTY, $FOX $FOXA, $TBABF, $BIDU)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5da09b01c80d065ebaf8d703/1570806531156/Upslope+-+2019Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($IT)</li><li><a href="https://www.dropbox.com/s/vsrenaad14f2bxa/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q3%202019%20%28Final%29.pdf?dl=0&utm_source=Website+Signup+-+Vilas+Capital+Management%2C+LLC&utm_campaign=8004c87a9b-3Q2019+Ltr_Web&utm_medium=email&utm_term=0_0fbdf27fc5-8004c87a9b-431098533" target="_blank">Vilas Capital</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_57_en.pdf" target="_blank">Vltava Fund</a> - ($BRK.A, $BRK.B, $SBRCY, $BMWYY)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_03b9a051772a4b9792c849ed7f74150a.pdf" target="_blank">Wedgewood Partners</a> - ($CDW, BRK.B, $NVDA, $ULTA)</li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/3Q19_Value%20Matters.pdf?1572140971546" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/4giogadrnt294d6q8t3a4awtxhrkjmjh" target="_blank">White Brook Capital</a> - ($BOX, $GRPN)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5db752012422566f6f7f86a4/1572295170818/Q3+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><div><br /></div></div><span style="font-size: large;">2nd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/07/Alluvial-Capital-Management-Q2-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $NUVR, $MMAC, $RAMPF, $CLWY, $CMLS, $FTR)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5d3a2ee5c694120001688a00/1564094184541/Q2+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($PAYS, $KWS, $NTDOY)</li><li><a href="https://www.dropbox.com/s/19lcbm48spw3g9c/Andvari-2019q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MLAB, $UPLD, $APPN, $BL, $WDAY, $TYL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/08/APPLX-Q2-2019.pdf" target="_blank">Appleseed Fund</a> - ($CRTO, $SINA)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAZ, $TAP, $MTSC)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/6b4ee586-4e8c-4044-a1be-d9f30c4f9e34/Arquitos_Investor_Letter_Q2_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTMX-APDMX-APHMX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTSX-APDSX-APHSX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-2q-2019-partner-letter-EvrTnmKZ" target="_blank">Artko Capital</a> - ($CCNI, $JYNT, $WFCW, $FLL, $NRCGW)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/07/2019-06-29-Askeladden-Capital-Q2-2019-Letter-Askeladden-Reloaded.pdf" target="_blank">Askeladden Capital</a> - ($FC, $AER, $DLTH, $LGIH, $SFM, LQDT)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $IDXX, $SSNC, $BNFT, $IRDM, $FDS, $ACGL, $RRR, $TWOU, $CVET, $ADPT, $ALEC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $ACGL, $CHH, TSLA, $BNFT, $MANU)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($IDXX, $JBT, $SITE, $TTD, $BFAM, $GTT, $RRR, $CISN, $PRA, $CVET, $TREX)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_6_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $GNRC, $BV, $CLDR, $SSTK, $MIK, $EPAM, $SNPS, $LOGM, $INOV, $CARB, $MINI)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-2q19-quarterly-letter" target="_blank">Bireme Capital</a></li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/07/Q2-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $GRUB, $TRIP)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5d350ce2e13121000110246f/1563757795868/2019+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($CNR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/8ef5fe82-9246-4fdd-afb3-8bb4681ebb8b/0719_BCM_Partner_Letter_Q2_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $GTN)</li><li><a href="https://browncapital.com/system/files/scf2q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf2q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief2q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/07/2019-Q2-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($DEST, $BXC, $PAR)</li><li><a href="https://www.docdroid.net/IereKR2/coho-capital-2019-q2-letter.pdf" target="_blank">Coho Capital</a> - ($GDDY)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5d1909fa11a9570001ea18c8/1561922043505/2019Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FISV, $FRRVY, $FRRVF, $TTNDY)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5d2fbf4e8b4dd7000199603e/1563410254409/Q2+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($KTB)</li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/5fd3b3ea-7001-4c07-8d63-f95d455af921/Q2_2019_Desert_Lion_Capital_Letter.02.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/07/E72-Quarterly-Report-June-2019.pdf" target="_blank">East 72 Holdings</a> - ($AFTPF, $ADS)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2019/" target="_blank">Ensemble Fund</a> - ($BR, $SBUX, $FAST, $FRC, $GOOG)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($DIS, $BORR, $STING)</li><li><a href="https://www.ewingmorris.com/wp-content/uploads/2019/07/Q2-2019-Letter-vFINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2019/iso_lc_20190630.pdf" target="_blank">Fiduciary Management FMI Large Cap</a></li><li><a href="http://ift.tt/2lCHEK9" target="_blank">Firebird Management</a> - ($BV, $KSS)</li><li><a href="http://bit.ly/2IVHtCO" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q2-2019.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-06_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5d44bf055832920001fa4381/1564786438422/Greenhaven+Road+Letter+%282019+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($KKR, $APPS, $PAR, $SHSP, $ETSY, $NTDOY)</li><li><a href="https://www.docdroid.net/nGef9ZE/greenlightq2letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.08.19-Q2-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q2.pdf" target="_blank">Hayden Capital</a> - ($CMPR, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($RDN, $VST, $CALX)</li><li><a href="https://www.dropbox.com/s/5nuv7dwl1ciblrv/Lightsail%202Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5d46e8a04cbc950001226b6c/1564928160433/2Q19+letter.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $DAIO, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/2q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CMCSA, $GE, $AMG, $CTL, $HCMLY\$HCMLF, $CHKGF, $CNHI, $FDX, $MAT, $CNX) - ($CBLLF, $DE)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5d3b26b6b5cb710001c505e5/1564157623654/Maran+Partners+Fund+LP+2019+Q2+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $WLK, $BXC, $SVIN, $BH)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2019/07/MVIP-2Q19-Letter-FINAL.pdf" target="_blank">Mar Vista Investment Partners</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5d2dd3b02daa030001a79d58/1563284400621/Massif+Capital+Second+Quarter+Letter+to+Investors.pdf" target="_blank">Massif Capital</a> - ($CBLLF, $DE)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_109a2c968fa84fa2afd22765e9af9374.pdf" target="_blank">Merion Road Capital</a> - ($IAA, $KAR, $MHH)</li><li><a href="https://www.brookvine.com.au/wp-content/uploads/2019Q2_Mittleman-Global-Value-Equity-Fund_Qtrly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/13kJJaxTuFCpNSOGStboGQFTDcl6ywMQq/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q2-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ROP, $DLR, $PFE) </li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_704bd79f605041f3920f5f06d726faf1.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.A\$CRD.B, $CWGL, $NGS, $WMK, $UG, PTVCA\PTVCB, $AE, $DOX, $SCHL, $GENC)</li><li><a href="https://pershingsquareholdings.com/wp-content/uploads/2019/08/2019-Semiannual-Financials-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q2-2019-investment-commentary/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://gallery.mailchimp.com/bca5bc00638aa58b6cada7fab/files/3f913a70-cf19-4e27-8a1c-42a613be3200/Rhizome_Partners_Q2_2019_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($ADBE, $AMZN, $FIVE, $ISRG, $GOOG\$GOOGL, $FB, $AAPL, $BX, $EXAS, $MSFT, $DIS, $PANW, $TDC, $ADSK, $COG)</li><li><a href="https://themarketplunger.com/2019/08/10/2q-2019-letter/" target="_blank">Rockvue Capital</a> - ($EAF, $TH, $UAA)</li><li><a href="https://www.rvcapital.ch/wp-content/uploads/2019/08/Co-Investor_Letter_H1_2019-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/a676b819-a092-4246-8284-74178e0a6fa9/SIF_2019_07_19_Investor_Letter.04.pdf" target="_blank">Saber Capital Management</a> - ($FB, $WFC)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_cee76b8ab55c40bcbc31421f7759ca6f.pdf" target="_blank">Saga Partners</a> - ($TTD, $LIMAF, $FB, $TRUP, $UA)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_58cdbf3f06da4d9b9bfc3dfba3366371.pdf" target="_blank">Spree Capital</a> - ($CVET, $BB, $QCOM)</li><li><a href="https://assets.empirefinancialresearch.com/uploads/2019/07/EFD-7-1-Stanphyl-Capital-Letter-June-2019.pdf" target="_blank">Stanphyl Capital Management</a> - ($TSLA, $AVNW, $WSTL)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $BSTC, $ELMD)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5d1b720139ab94000119388b/1562079747536/Tollymore+letter+June+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($BID)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5d2cb4770f60db0001b4a56c/1563210872722/Upslope+-+2019Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FLIR, $HGV, $COKE, $PACK)</li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_56_en.pdf" target="_blank">Vltava Fund</a> - ($AN)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_d88728c47e5442b9aa1f1d731c89ef5b.pdf" target="_blank">Wedgewood Partners</a> - ($ALC, $BRK.B, $SCHW, $CTSH, $EA, $MSI, $ODFL)</li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1570807813238" target="_blank">Weitz Value Fund</a></li></ul></div><br /><span style="font-size: large;">1st Quarter 2019</span><br /><br /><div><ul><li><a href="https://gallery.mailchimp.com/b5aa12c5c889b46c0f8288f6d/files/a791ca4e-e5b2-4a25-b606-0d1d6c95f384/Alluvial_Capital_Management_Q1_2019_Letter_to_Partners_04.22.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $APTL, $IEHC, $HICKA)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7b8f29e3a8d0001860027/1556592883034/Q1+2019+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL - $PAYS, $JYNT, $RMBL, $STKS). <a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7baa5eb39310fecbc7bdf/1556593318315/Alta+Fox+STKS+Long+4.28.19.pdf" target="_blank">Full Pitch</a> on $STKS)</li><li><a href="https://www.dropbox.com/s/rax170rmix70bir/Andvari-2019q1-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($UPLD, $TLRA, $WDAY, $V, $MA, $TYL, $MKL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/05/2019-APPLX-semi-annual-letter.pdf" target="_blank">Appleseed Fund</a> - ($SKM, $ERJ)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($AXE, $KMX, $ZBRA)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/680d1b4b-376f-4a4a-9324-af9ff3abe4dd/Arquitos_Investor_Letter_Q1_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2019-partner-letter-wy9TLMel" target="_blank">Artko Capital</a> - ($REPH, $NRCGW, $GAIA, $EEI, $LEAF)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%203.31.19.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $SSNC, $IRDM, $ANSS, $NEOG)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $H, $IRDM, $GWRE, $TSLA, $BNFT, $CHH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%203.31.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($TTD, $TDG, $FND, $GWRE, $HUD, $OEC, $PRTY, $BJRI, $CCC, $OSW, $CCX.U)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAM, $SSTK,$VRNT, $MIK, $QUOT, $MG, $BV)</li><li><a href="https://bluehawkinvestors.com/q1-2019-investor-letter/" target="_blank">Bluehawk Investors</a> - ($MTCH, $FND)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-1q19-quarterly-letter" target="_blank">Bireme Capital</a> - ($AAPL, $BKNG)</li><li><a href="https://browncapital.com/system/files/scf1q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf1q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief1q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/05/2019-Q1-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $USX)</li><li><a href="https://drive.google.com/file/d/1YUpNRWvSGBBLMymAbEXUoOCqFON2ENEJ/view">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ca171d41905f4c611b9202c/1554084308682/2019Q1letter.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SHMZF, $APH, $FRRVY, $FRRVF, $DHR, BAM, $SAPIF)</li><li><a href="https://www.nsx.com.au/ftp/news/021736732.PDF" target="_blank">East 72 Holdings</a> - ($ING, $MKL, $Y)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2019/" target="_blank">Ensemble Fund</a> - ($LSTR, $GOOG, $GOOGL)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($BDRBF, $KRA)</li><li><a href="https://t.co/YPShTxBhfj" target="_blank">Ewing Morris</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-2019-q1.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-03.pdf?sfvrsn=6" target="_blank">FPA Capital Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5cc366e74442bb0001c72482/1556309735923/Greenhaven+Letter+%282019+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $APPS, $KKR, $ETSY, $SHSP, $BOX, $EVI, $FCAU, $CSSE)</li><li><a href="https://www.docdroid.net/H7KPSVZ/greenlight-capital-q1-2019.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.05.23-Q1-Letter-Building-Gamma.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-1Q19-Report.pdf" target="_blank">Harding Loevner Global Small Cap Equities</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-1Q19-Report.pdf" target="_blank">Harding Loevner Global Equities</a> - ($KHC, $NSRGY, $LYFT, $WBC, $VRTX)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($BRY, $ARAY, $NWPX, $CCS, $FSLR)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q1.pdf?utm_source=Hayden+Capital&utm_campaign=fc6ae8918e-EMAIL_CAMPAIGN_2019_05_12&utm_medium=email&utm_term=0_aae4c81ce6-fc6ae8918e-103558831" target="_blank">Hayden Capital</a> - ($SE, $ZLPSF)</li><li><a href="http://www.horancm.com/sites/default/files/users/horancm/Portfolio%20Activity%201Q2019.pdf" target="_blank">Horan Capital Management</a> - ($MTN, $ATVI, $BKNG, $AAPL, $THO, $TCEHY, $GOOG, $FB)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($K, $PEP, $NFLX, $AMZN, $TPL)</li><li><a href="https://jdpcap.com/wp-content/uploads/2019/05/1Q-2019-Presentation-.pdf" target="_blank">JDP Capital Management</a> - ($XPO, $TK, $SPOT)</li><li><a href="https://www.docdroid.net/3VOAy5K/laughing-water-capital-q1-2019.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/1brj1hqavl9r08n/Lightsail%201Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a> - ($DRTTF)</li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5caf96756e9a7f50f6f03ec5/1555011190189/1Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $EVI, $CTEK)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/1Q19-Longleaf-Partners-Commentary.pdf" target="_blank">Longleaf Partners Fund</a> - ($GE, $MAT, $WYNN, $CTL, $HCMLY, $CHKGF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5cbdecde53450adb9a30dde5/1555950815790/Maran+Partners+Fund+LP+2019+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5cb5d9ccf9619acd0cf39f4e/1555421645754/Massif+Capital+First+Qtr+2019+Letter+to+Investors.pdf" target="_blank">Massif Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_b0cee1afd831423facf7f964eeada115.pdf" target="_blank">Merion Road Capital</a> - ($FCPT, $SLGG)</li><li><a href="https://www.docdroid.net/ostq4If/2019-q1-midwood-q1-2019-investor-letter.pdf" target="_blank">Midwood Capital Partners</a> - ($NXST, $DRTTF, $RCM, $LMB, $REPH)</li><li><a href="https://millervalue.com/bill-miller-1q-2019-market-letter/?dtr" target="_blank">Miller Value Partners</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q1-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($HD)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0319.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://assets.pershingsquareholdings.com/2019/05/17082807/Pershing-Square-Holdings-Ltd.-Q1-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a> - ($ADP, $QSR, $LOW, $SBUX, $HLT, $UTX, $HHC, $FNMA, $FMCC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q12019-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($GRUB)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/24185410-368c-44bd-a930-4a9d92e88bf9/SIF_2019_04_20_Investor_Letter.pdf" target="_blank">Saber Capital Management</a> - ($AAPL. $FB, $TCEHY)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_28dd8002fdf344a382a093d989c5b0f5.pdf" target="_blank">Saga Partners</a> - ($TRUP)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_21e9c90b285a4116ae4312cc1bb1bdbd.pdf" target="_blank">Spree Capital</a> - ($ROKU, $FTDR, $EBAY, $ALRM, $ZAYO)</li><li><a href="https://www.docdroid.net/QBav0xn/summers-value-partners-1q19-investor-letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $CVET, $SLGD, $ELAN, $KHTRF)</li><li><a href="https://mailchi.mp/ltfunds/templeton-and-phillips-investment-commentary-1q19-india" target="_blank">Templeton and Phillips Capital Management</a> - ($FFXDF, $HDB)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5cdd1d38e79c70fa76c315b2/1557994809354/Tollymore+letter+May+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRIP, $SE)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAREX-1Q19-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($INTU.L, $NWHM, $JBGS)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TASCX-1Q19-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($AGX)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAVFX-1Q19-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCC, $TDW, $EXP, $MHK)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5cb8894071c10b5b67e05353/1555597643395/Upslope+-+2019Q1+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($ATR, $YETI, $BLD)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1557519727747" target="_blank">Weitz Investment</a><span id="goog_1812407177"></span><a href="https://www.blogger.com/"></a><span id="goog_1812407178"></span> - <a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/Analyst%20Corner_CarMax.pdf?1557519727747" target="_blank">An Introduction to CarMax, Inc.</a> - $KMX</li></ul></div><br /><br /><span style="font-size: large;">4th Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5c509321f950b7176a5db508/1548784418298/Q4+2018+Alta+Fox+Capital+Quarterly+Letter+Final.docx.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/01/Alluvial_Capital_Management_Q4_2018_Letter_to_Partners_01.24.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $MMAC, $RAMPF, $AMNF)</li><li><a href="https://www.dropbox.com/s/53g8vs2pt3cpv4o/Andvari-2018q4-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MA, $TYL)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/" target="_blank">Ariel Funds</a> - ($ATGE, $AMG, $KN)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/9d0f05b1-9864-4bfe-84ff-d97cd237714e/Arquitos_Investor_Letter_Q4_2018.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2018-partner-letter-wnLTNPM6" target="_blank">Artko Capital</a> - ($JYNT, $SMED, $AFCN, $USAT, $PRIXQ, $SPAR)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%2012.31.18_3.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_12_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($HRC, $TRS, $CLH, $SSTK, $CMP, $CTLT, $EPAY, $MEDP, $ELY, $MIK, $MG, $SRCL)</li><li><a href="https://choice-equities.com/wp-content/uploads/2019/02/2018-Q4-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $DEST, $UA, $CMG)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5c2ca3e0aa4a995f08caea24/1546429409931/FY2018.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($BAM, $PTC, $SIRI, $PYPL, $HEI)</li><li><a href="http://east72.com.au/wp-content/uploads/2019/01/E72-Quarterly-Report-Dec-2018.pdf" target="_blank">East 72 Holdings</a> - ($AER, $EXXRF, $VIRT)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2018/" target="_blank">Ensemble Fund</a> - ($SCHW, $ST)</li><li><a href="https://www.evansandpartners.com.au/sites/default/files/InternationalFundQuarterly_December2018.pdf" target="_blank">Evans and Partners International Fund</a> - ($SKFOF, $RELX, $MMM, $GOOG, $V, $ADDYY, $AON)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/fpa-capital-fund-annual-report_03-31-19_web-ready.pdf?sfvrsn=4" target="_blank">FPA Capital Fund - Annual Report</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/crescent-fund-annual-report-web-ready-(12-31-18).pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2018.pdf" target="_blank">Fundsmith Equity Funds</a> - ($PM, $FB, $SBUX, $MSFT) - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="http://www.goodwoodfunds.com/wp-content/uploads/Goodwood-Annual-Report-2018.pdf" target="_blank">Goodwood Funds</a> - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5c4bc50842bfc120277fb927/1548469513395/Greenhaven+2018+Q4+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $KKR, $YELP, $BOX)</li><li><a href="https://drive.google.com/file/d/1W8cHASX6-hodil8f2KsnZdbWwkERXCjw/view" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.01.15-Q4-2018-Letter-vFinal.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q4.pdf" target="_blank">Hayden Capital</a> - ($MPNGF, $CVNA, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS, $NWPX, $ARAY)</li><li><a href="https://static1.squarespace.com/static/59a07c7b7131a5b68981e4d5/t/5cc7c1aaf56535000156ba28/1556595115918/Lightsail+2Q+2018+Letter.pdf" target="_blank">Lightsail Capital management</a> - ($DRTTF)</li><li><a href="https://www.valuewalk.com/2019/02/mittleman-brothers-4q18-clear-media/" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/1TmrJPz9OlvLmGBSiADH7ggUOs544pllr/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/01/Nelson-Roberts-2018-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ZTS)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_1218.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/2018-year-end-investment-commentary-easy-come-easy-go/" target="_blank">RGA Investment Advisors</a> - ($ROKU, $CGNX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/Co-Investor_Letter_2018-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_ae6d4d06c60344d8b7971326501d9b65.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LGIH, $FB)</li><li><a href="https://drive.google.com/file/d/1YKnOvM33MFTIEO_rnU9ZmOBQczTSqLd0/view" target="_blank">Sebids Capital</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAREX-4Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($DLN.L, $WY, $ZION, $PNC Warrants)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TASCX-4Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CUBI, $MYRG, $ATNI)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAVFX-4Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($DWDP, $DDAIF, $ANFGF)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5c3cb0b540ec9ab9b9fd10f0/1547481270127/Tollymore+letter+December+2018.pdf" target="_blank">Tollymore Investment Partners</a> - ($UHAL, $GYM.LN, $ITEGY, $TRIP, $TRUP)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5c38b8cb4fa51a28ba9f70a0/1547221197096/Upslope+-+2018Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($EVR, $BLD, $JE.LN, $DLTR, $KWR, $YETI, $MKTX, $TSLA)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global</a></li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/4Q18_Value%20Matters.pdf?1557519727747" target="_blank">Weitz Investment</a></li><li><a href="http://wiedowercapital.com/files/Letter2018.pdf" target="_blank">Wiedower Capital</a> - ($TRUP, $JD, $ISDR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/33abc1df-abe9-49a8-aef3-cc6058c2948d/WOSF_Partner_Letter_January_22_2019.pdf" target="_blank">Willow Oak Select Fund</a> - ($BEL)</li></ul><br /><br /><div><span style="font-size: large;">3rd Quarter 2018</span></div><br /><div style="font-family: "times new roman"; margin: 0px;"><div style="font-family: "Times New Roman";"><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5bc79a54eef1a1e334de4634/1539807830450/Q3+2018+Alta+Fox+Capital+Quarterly+Letter+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($XPEL, $TPNL, $UWN)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q3-2018-Letter-to-Partners-10.29.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $OTEL, $MMAC, $CTRA, $BXC, $RAMPF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-3q-2018-partner-letter-X34TP2Oe" target="_blank">Artko Capital</a> - ($TWNKW, $RSSS)</li><li><a href="https://www.baronfunds.com/sites/default/files/Quarterly%20Report%209.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $SSTK, $MIK, $PLOW, $GNTX, $OI, $APAM, $QUOT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/11/2018-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($LAWS, $BECN, $BXC, $YELP, $DEST)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5bb318fa15fcc0a9cd511971/1538463995185/2018Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FTV, $FERGY, $CCF, $ROP, $FRC, $AMADY, $CMCSA, $SIRI, $AON)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2018/" target="_blank">Ensemble Fund</a> - ($TRUP, $BKNG)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5be1e3a60e2e72c05e5cdd4b/1541530534947/Greenhaven+Road+-+2018+Q3+Final_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $TRIP, $YELP, $EVI, $BOX)</li><li><a href="https://www.docdroid.net/MfMnIs3/greenlight-capital-q3-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.10.10-Q3-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TRIP, $TI)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q3.pdf" target="_blank">Hayden Capital</a> - ($MKL, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TLRY, $BRY, $SRCI, $AXAS, $CCS)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/3Q18-Longleaf-Partners-Funds-Shareholder-Letter.pdf" target="_blank">Longleaf Partners Fund</a> - ($CTL, $BEL, $OCINF)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0918.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/U.S.%20Small%20Company%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/q32018-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($PYPL, $WBA)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_890d215dee47497ba91e2a46ad7aa95a.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAREX-3Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($BKG.L, $JBGS, $CHKGF)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/11/TASCX-3Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $ASIX, $MYRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAVFX-3Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($TDW, $CHKGF, $BZZFF, $DB)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5bc894958165f5a62a1e5c6a/1539871893976/Upslope+-+2018Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($CWH, $TSLA, $MKTX)</li></ul></div></div><div style="font-family: "times new roman"; margin: 0px;"><br /></div><br /><span style="font-size: large;">2nd Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5b57bd2988251bd8777d5ee0/1532476738546/Q2+2018+Alta+Fox+Capital+Quarterly+Letter.docx.pdf" target="_blank">Alta Fox Capital Management</a> - (T$PNL, $XPLT)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q2-2018-Letter-to-Partners-7.20.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $SCOO, $NUVR, $MMAC)</li><li><a href="https://www.dropbox.com/s/ga6p199nuv30j9i/Andvari-2018q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($TTD, $APPN, $TCEHY, $MKTX, $GOOG)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAKE, $TISI, $TGNA)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-2q-2018-partner-letter-wARTJpDv" target="_blank">Artko Capital</a> - ($EEI, $ROSEW/ROSEU, $WFCF, $FRD)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%206.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_6_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $KN, $OI, $APAM, $CNK, $PLOW, $MIK, $CSOD, $EXLS)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/464760b7-cb8c-4974-98ae-c9ff09e5f2c8/0718_BCM_Partner_Letter_Q2_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($KT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/08/2018-Q2-CEF-Investor-Letter_WEBSITE-PDF.pdf" target="_blank">Choice Equities Fund</a> - ($CMG, $REED, $BECN)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5b38349e2b6a280422fa91ba/1530410142957/2018Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SAPIF, $TTNDY, $MKSI, $CMCSA, $PNR, $CIGI, $BAX, $SPGI)</li><li><a href="http://east72.com.au/wp-content/uploads/2018/07/E72-Quarterly-Report-June-2018.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $UCPLF, $ELFIF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2018/" target="_blank">Ensemble Fund</a> - ($LB, $PBH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q2-letter_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://gatorcapital.com/wp-content/uploads/2018/07/20180723-GFP-2018-Q2-Letter.pdf" target="_blank">Gator Capital Management</a> - ($AMP)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5b5b790daa4a9904b4e75eb0/1532721421547/Greenhaven+%282018+Q2%29_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $YELP, $CSSE)</li><li><a href="https://www.docdroid.net/xz9WkeV/greenlight-capital-q2-2018-letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.07.18-Q2-2018-Letter-v2.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TI)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS)</li><li><a href="https://www.docdroid.net/KyxH0f8/laughing-water-capital-h118.pdf" target="_blank">Laughing Water Capital</a> - ($EZPW, $FCAU, $CDMO, $CWH, $RMNI/$RMNIW)</li><li><a href="https://www.docdroid.net/PctUQHa/maran-partners-fund-lp-2018-2q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $LOV)</li><li><a href="https://drive.google.com/file/d/1n2UY-hQd8QEPzidhsQFL2lyeBngGsdPw/view" target="_blank">MPE Capital</a></li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0618.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/US-Small-Company-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/08/Q2-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($EQIX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2018/07/Co-Investor_Letter_H1_2018-EN.pdf" target="_blank">RV Capital</a> - (AddLife, PSG Group)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_6b3f18269c334631a75ac584d4276af6.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAREX-2Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FPH, $LEN)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TASCX-2Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAVFX-2Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCTPF, $KKWFF, $BCAUY, $HA</li><li><a href="http://wiedowercapital.com/files/Letter1H18.pdf" target="_blank">Wiedower Capital</a> - ($JD)</li></ul><br /><div><br /><span style="font-size: large;">1st Quarter 2018</span><br /><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q1-2018-Letter-to-Partners-4.23.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $OTEL, $LICT, $MMAC $BXC)</li><li><a href="https://www.docdroid.net/90TaM6T/arquitos-investor-letter-q1-2018.pdf" target="_blank">Arquitos Capital Management</a> - ($SYTE, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-1q-2018-partner-letter-wPZT33Kb" target="_blank">Artko Capital</a> - ($HTM, $GAIA, $HDSN, $SKY)</li><li><a href="https://doc.morningstar.com/Document/a444b3ab802f4a0c076025c4dee1cd5a.msdoc/original?clientid=globaldocuments&key=52dbc583e1012395" target="_blank">Ariel Funds</a> - ($KEYS, $MHK, $OAK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $ELY, $EPAY, $CMP, $MIK, $MG)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2249ec23-e80d-46a8-9f65-846264852383/0418__BCM_Partner_Letter_Q1_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TI, $TOO)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ada7a78575d1f52aa6e679d/1524267640733/2018Q1.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SPGI, $CME, $CMCSA, $SPB)</li><li><a href="https://www.docdroid.net/S613L8e/1q-2018-dane-investor-letter.pdf" target="_blank">Dane Capital Management</a> - ($DSKE, $IEA, $LAZY, $LMB, $YTRA, $EVI)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2018/" target="_blank">Ensemble Fund</a> - ($NFLX, $DNOW)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q1-letter_vfinal.pdf#page=2" target="_blank">FPA Capital Fund</a> - ($WDC, $TEN, $ALGT)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q1-2018-vfinal.pdf#page=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ae7bf98f950b7272142f5c2/1525137305236/Greenhaven+2018+Q1+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $BXC)</li><li><a href="https://www.docdroid.net/K95Fju3/greenlight-capital-q1-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.05.11-Q1-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $RYCEY, $VIVHY)</li><li><a href="https://www.docdroid.net/81jd56q/laughing-water-capital-q1-2018.pdf" target="_blank">Laughing Water Capital</a> - ($BXC, $OCN, $TRC, $GHL, $ITI, $GAIA)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Documents/1Q18-Longleaf-Partners-Quarterly-Summary-Report-All-Funds.pdf" target="_blank">Longleaf Partners</a></li><li><a href="https://www.docdroid.net/eFTaTcE/maran-partners-fund-lp-2018-1q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $IAC, $ATTO)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0318.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/05/Q1-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($DIS, $RAMP)</li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q18.pdf" target="_blank">RiverPark Large Growth Fund</a></li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rpfvf/commentary/RiverPark_Focused_Value_1Q18_SH_Letter.pdf" target="_blank">RiverPark Focused Value Fund</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_64caf8ca6a264972923df8b202415b9a.pdf" target="_blank">Saga Partners</a> - ($ESI, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAREX-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($AKR, $SRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TASCX-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($FRPH, $WEDXF. $SMHI)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAVFX-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BDRLF, $KKWFF, $BMWYY)</li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2018/04/VVP-Quarterly-Commentary-18.03.31.pdf" target="_blank">Vulcan Value Partners</a></li></ul></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-33321234850016317332020-11-08T09:09:00.004-05:002020-11-25T21:53:57.710-05:00<p> <span style="font-size: large;">Updating with 3rd quarter letters. Have fun reading.</span></p><hr /><span style="font-size: large;">3rd Quarter 2020</span><br /><hr /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f91d68ffcf5365a608ae79b/1603393167269/Q3%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($LMB)</li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($PENN, $ZM, $DKNG, $VAPO, $MIDD, $VERX)</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($NTRA, $CYRX, $VEEV, $AYX, $EHTH, $PRO).</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://p.weebly.com/14123551/0e14046f58/acml_2020_q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f9c71c178bf29569ce3e73c/1604088257626/Q3+2020+Alta+Fox+Capital+Quarterly+Letter+-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT)</li><li><a href="https://drive.google.com/file/d/16Z5Ah7ylRfTNtv7_89hvySNkLBs94ymo/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://andvariassociates.com/q3-letter-repeatable-process-and-concentration" target="_blank">Andvari Associates</a> -($GLIBA, $LBRDA, $CSGP, $TYL)</li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/08/APPLX-Q2-2020-Letter-.pdf" target="_blank">Appleseed Fund</a></li><li><a href="https://mailchi.mp/d5669ebd0777/argosy-investors-3q20-letter-5089533" target="_blank">Argosy Investors</a> - ($TIG, $TAP, $XPO, $HEI, $CIGI).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BAP, $FLIR, $NOV, $MTN).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/abb0e242-eb67-40d1-883b-ecdfa6b22d71/Arquitos_Investor_Letter_Q3_2020.pdf" target="_blank">Arquitos Capital</a></li><li><a href="https://arisaig.com/wp-content/uploads/2020/10/Arisaig-Quarterly-October-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/3q/APFDX-APDDX-APHDX-QCommentary-3Q20-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTKX-APDKX-MCommentary-0920-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTMX-APDMX-MCommentary-0920-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTSX-APDSX-MCommentary-0920-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/monthly-commentary/vr/2020/sep/ARTLX-APDLX-MCommentary-0920-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-3q-2020-partner-letter-XOMTVzxR" target="_blank">Artko Capital</a> - ($NTIC, $PBPB, $FTK)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-9.30.20.pdf" target="_blank">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-9.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($PRPL, $VITL, $PACB, $BLI, $AFIB, $MEG, $AEIS).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron FinTech Fund</a> - ($SQ, $NVEI.TO).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-9.30.20.pdf" target="_blank">Baron Growth Fund</a> - ($AMWL).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-9.30.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-9.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-9.30.20.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-9.30.20_1.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_9_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+3Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($SSTK, INOV, $WSC, $EPAY, $SP, $CSOD)</li><li><a href="https://s3.amazonaws.com/bireme/3Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AAADKn6HMQN3RcB_NnJSPUsRa/Black%20Bear%20Value%20Partners%20Q3%202020.pdf?dl=0" target="_blank">Black Bear Value Partners</a> - ($AWI, $AN, $BRK.B, $PSX, $TPL)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f84061d553af93162d867d1/1602487838468/2020+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($BERY)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f90958a0514cc4e0f71e119/1603310986504/Bonsai+Partners+Q3+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($RDBBF, $PHPYF, $MU, $GNSS, $TSM).</li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202009.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf3q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a> - ($CRL, $BFAM, $JKHY, $RP)</li><li><a href="https://browncapital.com/system/files/scf3q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($IRTC, $VEEV, $AYX, $PRO)</li><li><a href="https://browncapital.com/system/files/ief3q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf3q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://drive.google.com/file/d/1a76lPrhT-7Z1kFGOwh1f_w90IPJiAnNE/view" target="_blank">Cartenna Capital</a> - ($FDX, $LAD, $LEA)</li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f85eb7289085d67fca99c88/1602612084148/Q3+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://documentcloud.adobe.com/link/review?uri=urn:aaid:scds:US:7abf9ad9-f7fe-4977-813d-f110bc6cd463#pageNum=1" target="_blank">Choice Equities Fund</a> - ($APPS, $PINS, $MGNI, $SIC).</li><li><a href="https://cedcapital.in/wp-content/uploads/2020/10/Quarterly-PMS-Letter-Sep20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5f761584c70e806b3d25af69/1601574277212/Q32020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Hedged)</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-unhedged/reports/quarterly-commentary-report-september-2020/" target="_blank">Cooper Investors Global Equity Fund (Unhedged)</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q3-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5f8770933c746c06627c78af/1602711699235/Q3+2020+Letter.pdf" target="_blank">Curreen Capital</a> - ($CNDT).</li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5fb1cf491cc5cc6622c8d927/1605488457151/Del+Principe+O%27Brien+October+2020+Letter+pdf.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a> - ($BRK.B, $ROP, $DHR, $MC, $ICE)</li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/2eca2e7c-b182-4c14-8b24-b57b0eb9b1e1/2020_Q3_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/10/Q3-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://dmzpartners.in/Documents/Files/DMZ-2103-2Q20-21-Redacted.pdf" target="_blank">DMZ Partners</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/10/DKAM-ROE-Reporter-October-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2020/" target="_blank">Ensemble Fund</a> - ($CMG, $ISRG. $NVR, $BR, $FRC, $NVR).</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/10/16105449/Client-Letter-Q3-2020-FINAL.pdf" target="_blank">Ewing Morris</a> - ($KAI)</li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_1.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200930.pdf" target="_blank">FMI All Cap Equity</a> - ($CMCSA, $DLTR).</li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200930.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200930.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200930.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-q3.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NCR, $AGCO, $CNOM, $CNC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q3-final-w-disclosures-and-holdings.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q3%20Commentary/2020.Q3%20Goehring%20%26%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f9c6af71e0c5e77d38dbda4/1604086519425/Greenhaven+Road+Letter+%282020+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $KKR, $APPS, $ESTC, $ROKU, $AEYE, $APG, $NLS, $BNED)</li><li><a href="https://www.valuewalk.com/wp-content/uploads/2020/10/Qlet2020-03-1.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.11.01-Q3-Letter-v2.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/11/Greystone-Capital-Q3-2020-Letter.pdf" target="_blank">Greystone Capital Management</a> - ($RICK, $RMNI, $CRAWA, $RSSS, $PW)</li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GE/2020/GE-3Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/IE/2020/IE-3Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-3Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-3Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q3.pdf" target="_blank">Hayden Capital</a> - ($AFTPF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($HLT, $SPB, $FE, $MHK)</li><li><a href="https://www.heartlandadvisors.com/Products/Strategies/Heartland-Opportunistic-Value-Equity-Strategy/Heartland-Opportunistic-Value-Equity-Strategy-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Opportunistic Value Fund</a> - ($HLT, $CSCO, $BRK.B)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TSC, $OESX ,$PLAB)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SPB, $FCFS, $RL)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q3NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($TPL)</li><li><a href="https://l1international.com/wp-content/uploads/2020/10/09_2020_International_Fund_Quarterly_Report.pdf" target="_blank">L1 International Capital Fund</a></li><li><a href="http://investors.l1longshort.com/FormBuilder/_Resource/_module/I55ldzd8PEOEMsL6ie52-w/file/Quarterly_Investor_LetterSep2020.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f8c75b4bdc0fc164f836caf/1603040693094/Laughing+Water+Capital+Q3%2720.pdf" target="_blank">Laughing Water Capital</a> - ($USAT, $FREE)</li><li><a href="https://southeasternasset.com/commentary/3q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/3q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/10/2020-09-September-Performance-Update-Public.pdf" target="_blank">LRT Capital</a></li><li><a href="https://983a9a5c-98df-449f-8ee4-a4a76a14e0a9.filesusr.com/ugd/f50b59_1bf005a3950242f48eeff54c938130ed.pdf" target="_blank">Luca Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($HON)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0" target="_blank">Madison Investors Fund</a> - ($FB)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0" target="_blank">Madison Mid Cap Fund</a> - ($ANET)</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5fa85397ef83d42c47c6bbad/1604866968719/Maran+Partners+Fund+LP+2020+3Q+Letter.pdf" target="_blank">Maran Capital Management</a> - ($FREE, $PCYO, $CLAR)</li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5f91f70b872be4229ca34d82/1603401483222/2020.Q3+Massif+Investor+Client+Letter.pdf" target="_blank">Massif Capital</a></li><li><a href="https://www.mawer.com/learn/mawer-quarterly/third-quarter-2020/" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://www.mclaincap.com/letters" target="_blank">McLain Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_ff943467174a4a2fbef2fb129e71359a.pdf" target="_blank">Merion Road Capital</a> - ($FERGY, $TUESQ)</li><li><a href="https://www.mhinvest.com/download.html?docId=3036" target="_blank">Miller/Howard Investments</a></li><li><a href="https://millervalue.com/deep-value-strategy-3q20-letter/" target="_blank">Miller Value - Deep Value Strategies</a> - ($NBR, $BBBY, $GME, $SIG, $PBI, $ATCO)</li><li><a href="https://millervalue.com/opportunity-equity-3q20-letter/" target="_blank">Miller Value - Opportunity Equity</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a></li><li><a href="http://www.myrmikan.com/pub/Myrmikan_Research_2020_10_13.pdf" target="_blank">Myrmikan Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/10/2020Q3.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($QDEL).</li><li><a href="https://drive.google.com/file/d/1wavRmQCrmYZ0Xr91X-0o7wfgS-oaE48W/view" target="_blank">Nomadic Value</a> - ($UNH, $OHS, $IPOC).</li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-third-quarter-2020/" target="_blank">Oakmark Fund</a> - ($CBRE, $KDP)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-third-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-third-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_16ebf57ec73a4bd8957c37c5ed02890b.pdf" target="_blank">Old West Investment Management</a> - ($LEU)</li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_ebd5d2ddc5a04d9b8a657a03a5115b1f.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($UNH, $ISRG, $CRM, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-3Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.rgaia.com/wp-content/uploads/2020/11/Q3-2020-Investment-Commentary-Ignition.pdf" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/0c3c2277-336b-4b40-957b-97b4df6c3b1b/Rhizome_Partners_Q3_2020_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q20.pdf" target="_blank">RiverPark Large Growth</a> - ($PINS, $AAPL, $AMZN, $EXAS, $ISRG, $ILMN, $AMT, $ADSK)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_3Q20.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/11/2020-Q3-Newsletter.pdf" target="_blank">Rowan Street Capital</a> - ($BABA)</li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sustainable-Q3-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Amana-Q3-2020-web.pdf" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/saturna.com/files/files/2020/Sextant-Q3-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://drive.google.com/file/d/1A0s8GKvMy-_xUHbzxDSaN0AEjmwSg_f6/view" target="_blank">Selcouth Capital Management</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=459a37f7-5751-4cfe-9518-f3a1538c959e&Name=Q3_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/ba603bd1-d159-48eb-8ad5-d291db00375b/SilverRingValuePartners_2020Q3_Letter.pdf" target="_blank">Silver Ring Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_706aab945eef4b7088fcb7ee7409a296.pdf" target="_blank">Spree Capital</a> - ($IAC, $ANGI, $PINS)</li><li><a href="https://stjic.com/wp-content/uploads/2020/09/STJIC-Adviser-Letter-2020-Q3.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/13ac1227-dad0-4f2e-9abf-49860419ff60/Steel_City_Capital_3Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a> - ($LSYN, $ATEX. $SATS, $EBAY, $TCP, $TRUP, $HBI, $OLLI)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $ELMD, $PRSC, $ASRT)</li><li><a href="https://taovalue.files.wordpress.com/2020/10/taovalue_2020_q3_final.pdf" target="_blank">Tao Value</a> - ($BEKE, $WORK, $API)</li><li><a href="https://drive.google.com/file/d/1Utxz55Fm5B66CLNOoTYUOktAfFEX5jgq/view" target="_blank">Tidefall Capital Management</a> - ($FB, $NFLX, $MTCH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAREX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FNMA, $CBRE, $AMH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TASCX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($HBB)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/10/TAVFX-Shareholder-Letter-3Q20.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://thirdpointlimited.com/wp-content/uploads/2020/10/Third-Point-Q3-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a></li><li><a href="https://www.dropbox.com/sh/rpazms6ygofkm6q/AABLnwQSozTE3JKv2sad6Z9fa?dl=0&preview=Tollymore+Q3+2020.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRUP, $FTCH).</li><li><a href="https://www.turtlecreek.ca/wp-content/uploads/2020/10/Turtle-Creek-Quarterly-Commentary-2020-Q3.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202020%20-%20FINAL.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f871d84732ab26ee19d4081/1602690437395/Upslope+-+2020Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($BFAM)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_62_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/10/VVP-Quarterly-Letter-20.09.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Small-Cap-Value-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Commentary-2020.09.30-Q-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f46984994bc44abab0fa9d012fa35da.pdf" target="_blank">Wedgewood Partners</a> - ($FRC, $NVDA, $V, $PYPL)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637390754590000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/3q2020-commentary" target="_blank">White Brook Capital</a> - ($GOOG, $GT)</li><li><a href="https://f.hubspotusercontent20.net/hubfs/5063922/Q3%20Letter%20-%20Worm%20Capital%20-%20October%202020.pdf?utm_medium=email&_hsmi=96979337&_hsenc=p2ANqtz-9c8-1QN7remFXHTROTOZTyb6aD5SohUf2rFfwP8peAv3-Z1XJlW5WJvb4sn6epTXlR7KXK61iVzvAd7ZtR3HHcWBQZvQ&utm_content=96979337&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><span style="font-size: x-large;">2nd Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f1646c5f488c44459f92f6f/1595295430480/Q2%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($HBI)</li><li><a href="https://www.adestella.com/wp-content/uploads/2020/08/Q2-2020-Investor-Letter.pdf" target="_blank">Adestella Investment Management</a> - (WSE:LVC)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/07/Akre-Focus-Fund-Quarterly-Commentary-2020-Q2.pdf" target="_blank">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($QDEL, $DKNG, $MKTX, $INGN, $XPO, $HLIO).</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus</a></li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/07/Alluvial-Capital-Management-Q2-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $LICT, $NUVR, $RWWI, $CRAWA, $PII, $MMAC, $BUKS, $MHGU)</li><li><a href="https://p.weebly.com/14123551/8d9576d761/ACML_2020_Q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f21cdd21a3a007c9039d884/1596050899234/Q2+2020+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT, $NLAB)</li><li><a href="https://drive.google.com/file/d/1tOgr8EbBQL-DFcyuEIteClKQnktt-ioR/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/05/Q1-2020-applx-semi-annual-letter-updated-v2.pdf" target="_blank">Appleseed Fund</a> - ($TPIC).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($JLL, $MSGE, $SWK).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/06/Arisaig-Quarterly-July-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTIX-APDIX-APHIX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTMX-APDMX-APHMX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($PTON, $CHGG, $IEX, $LSCC, $BURL, $ASND).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTSX-APDSX-APHSX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-2q-2020-partner-letter-XzMTMQrb" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/08/2020-08-10-Askeladden-Capital-Q2-2020-Letter-Unkind.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://mcusercontent.com/1299c2986ac5b8b808d25e3db/files/3a2f5125-2747-4c36-90e0-cb882c13bfc0/Avory_Quarterly_Letter_2020_Q3.pdf" target="_blank">Avory&Company</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.20.pdf" target="_blank">Baron Asset Fund</a> - ($ZI)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-6.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($AAT, $CAKE, $FOUR, $AEIS, $CYRX, $NARI).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.20.pdf" target="_blank">Baron Health Care Fund</a> - ($SWAV, $IMMU, $CYRX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-6.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-6.30.30.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.20_0.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-6.30.20.pdf" target="_blank">Baron Small Cap Fund</a> - ($CCH, $AXNX, $KTOS, $AZEK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_6_30_bca_scv_marketcomm_final.pdf?utm_source=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CRNC, $CTLT, $EPAY, $PLOW, $SP, $BV, $SPSC, $TWNK)</li><li><a href="https://bluehawkinvestors.com/q2-2020-investor-letter/" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $EA, $SPLK, $STZ).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f1561892a4010553ea9a4fc/1595236745929/2020+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/c68a1a6b-f4ef-4fa0-a118-538e1f21755d/081020_Bonhoeffer_Partner_Letter_Q2_2020.pdf" target="_blank">Bonhoeffer Fund</a> - ($AM)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f0e14ec768fd51a428a531a/1594758381666/Bonsai+Partners+Q2+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($LKQ, $GNSS, $TSM, $PHPYF)</li><li><a href="https://www.boyarvaluegroup.com/wp-content/uploads/2020/07/2Q_2020_BVGLETTER.pdf" target="_blank">Boyar Group</a></li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202006.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf2q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf2q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/ief2q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f179f71130d4a67c0b7cc14/1595383665773/Q2+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2020/07/2020-Q2-CEF-Investor-Letter-2.pdf" target="_blank">Choice Equities Fund</a> - ($CELH, $APPS, $PINS, $CTRN, $TAST).</li><li><a href="http://choufunds.com/pdf/SEMI-AR%202020%20%28English%29.pdf" target="_blank">Chou Funds</a></li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2020+Q2+Letter.pdf" target="_blank">Coho Capital</a> - ($SPOT)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5efce03ba58d546e2e0f9e2b/1593630780199/Q22020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q2-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://www.docdroid.net/bFfeMjX/david-capital-partners-llc-letter-on-covid-19-2020-q2-pdf" target="_blank">David Capital Partners</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a> - ($COF, $BK).</li><li><a href="https://davisfunds.com/downloads/DGFPMComm.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFPMComm.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5efb340b8974eb3c8fb597aa/1593521163499/Del+Principe+O%27Brien+June+2020+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/fee3146b-2929-4ef2-a438-b026f217bccb/2020_Q2_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://dfdent.com/wp-content/uploads/2020/09/DF-Dent-063020-Annual-Report-FINAL-updated-3.pdf" target="_blank">DF Dent</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200630_Diamond-Hill_Small-Cap-Fund-Commentary-1.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/07/Q2-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/08/DKAM-ROE-Reporter-July-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_c1778ec658b04174856e4169cb505c0c.pdf" target="_blank">Emeth Value Capital</a> - ($BSM)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2020/" target="_blank">Ensemble Fund</a> - ($MASI, $NFLX)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_0.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200630.pdf" target="_blank">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200630.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200630.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200630.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://foragerfunds.com/wp-content/uploads/2020/07/Quarterly-Report_June-2020.pdf" target="_blank">Forager Fund</a> - ($CELH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-06.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2020-q2.pdf?sfvrsn=14" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5f078ab33b43a56a3eb3feae/1594329782036/GCAM+Q2+2020+letter.pdf" target="_blank">Giverny Capital Asset Management</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q2%20Commentary/2020.02%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f1ce3f5ffc2762dc1e36675/1595728886611/Greenhaven+Road+Letter+%282020+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($GOGO, $LE, $IAC, $APPS, $KKR, $ESTC, $PAR)</li><li><a href="https://www.docdroid.net/8aEd6Ge/greenlight-2q20-letter-pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.08.18-Q2-2020-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/07/Greystone-Capital-Letter-H1-2020.pdf" target="_blank">Greystone Capital Management</a> - ($HIL, $RICK, $APG, $TRRVF, $MIXT</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/GE-2Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/IE-2Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-2Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-2Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q2.pdf" target="_blank">Hayden Capital</a> - ($AMZN, $SE)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($AAP, $RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($CNI, RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($MDC, $PLAB, $NFG)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SAH, $CCRN, $PCH)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q2NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Quarterly-Commentary_Q2-2020.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q20.pdf" target="_blank">Horos Asset Management</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/07/2020-Half-Year-JDP-Capital.pdf" target="_blank">JDP Capital</a></li><li><a href="http://investors.l1longshort.com/DownloadFile.axd?file=/Report/ComNews/20200720/02256558.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://l1international.com/wp-content/uploads/2020/07/06-2020-International-Fund-Quarterly-Report.pdf" target="_blank">L1 International Capital Fund</a> <a href="https://www.lrtcapital.com/wp-content/uploads/2020/07/2020-06-June-Performance-Update-Public.pdf" target="_blank">Capital</a></li><li><a href="https://www.docdroid.net/2ExPtjh/lakewood-capital-2020-q2-letter-pdf" target="_blank">Lakewood Capital Management</a> - ($HDS, $NSP, $ATH, $BLDP, $SLP, $SRNE)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f19a4d1e0b9f47a7f5974aa/1595516114278/Laughing+Water+Capital+1H%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/nlml7il3uj1purr/Lightsail%202Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($MMM)</li><li><a href="http://madison%20mid%20cap%20fund/" target="_blank">Madison Investors Fund</a> - ($MMC)</li><li><a href="http://madison%20investors%20fund%20-%20%28%24mmc%29/" target="_blank">Madison Mid Cap Fund</a> - ($IT, $LH, $MC).</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://www.docdroid.net/FGa8ior/maran-partners-fund-lp-2020-q2-letter1582-pdf" target="_blank">Maran Capital Management</a> - ($IAC)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2020/09/MVIP-Strategic-Growth-Commentary-2Q-2020.pdf" target="_blank">Mar Vista Investment Partners</a> - ($APH)</li><li><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202nd%20Quarter%20Letter%20to%20Investors.pdf?utm_medium=email&_hsmi=91107066&_hsenc=p2ANqtz-9LijGwDjSgj8jyqCenBnIBF47dmzsWi3IMjSFYI4FdU7JJBgy3y9ZYV2Hb0dIgRDoabuG10U1l5XThj0OJNeKKIwi9SQ&utm_content=91107066&utm_source=hs_email" target="_blank">Massif Capital</a> - ($HES, $RUN, $GOLD).</li><li><a href="https://www.mawer.com/assets/Newsletters/2Q20-Quarterly-Series-A-Net.pdf" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_aa805187f361412fa7b16ed0918e00e2.pdf" target="_blank">Merion Road Capital</a> - ($TRNS)</li><li><a href="https://millervalue.com/deep-value-strategy-2q20-letter/">Miller Value Fund</a> - ($BBBY, $NBR, $TMHC, $DXC).</li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q2_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a> - ($CRMLF, $CAR, $CCL, $REV, $CPXGF, $AZTEF)</li><li><a href="https://drive.google.com/file/d/1EY3GUJZn0WVXSuQy17mk1W5FYdOqL2Ry/view" target="_blank">MPE Capital</a> - ($WIX, $BRBOF).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/07/2020Q2.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($DOCU).</li><li><a href="https://drive.google.com/file/d/1vccfEmwX4ulExfEIrOE1IOB6uKeMU6QW/view" target="_blank">Nomadic Value Investment Partners</a></li><li><a href="https://www.nzscapital.com/s/NZS-Capital-Q2-2020-Letter.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2020/" target="_blank">Oakmark Fund</a> - ($RGA, $GD, $TMUS)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_a30dcf83719d44bba64d3b6e9f3f4345.pdf" target="_blank">Old West Investment Management</a> - ($FLGT).</li><li><a href="https://www.docdroid.net/bg0gNdv/pabrai-funds-q2-2020-pdf#page=7" target="_blank">Pabrai Funds</a></li><li><a href="https://www.palmvalleycapital.com/fundletter" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growt</a>h</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5f3b4cb88ea6a1347c012598/1597721787995/RF+Capital+Q2+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://www.rgaia.com/q22020-investment-commentary-the-tale-of-two-markets/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/67acd636-2e8e-4ba4-b038-d2c2d5805461/Rhizome_Partners_Q2_2020_Investor_Letter_Final.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q20.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($SNAP, $SHOP, $BILL, $AMZN, $TWLO, $CME, $IQV, $ZTS, $APO, $KKR, $MTN).</li><li><a href="http://riverpark%20large%20growth%20fund%20-%20%28%24snap%2C%20%24pins%2C%20%24uber%2C%20%24shop%2C%20%24bill%2C%20%24dxcm%2C%20%24rng%2C%20%24lmt%29.%20riverpark%20long/Short%20Opportunity%20Fund" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_2Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($BKNG, $BMT, $FB, $FLT)</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/08/Near-Term-Delusions-Long-Term-Collisions.pdf" target="_blank">RLT Capital</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan_Street_Capital_First_Half_2020_Letter.pdf" target="_blank">Rowan Street Capital</a> - ($SPOT)</li><li><a href="https://www.rvcapital.ch/post/co-investor-letter-h1-2020?cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6&utm_campaign=cadf75be-7334-4451-a092-5873c7ac02ac&utm_medium=mail&utm_source=so" target="_blank">RV Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c6eb517f46b24b9d8e9aad440f79ee19.pdf" target="_blank">Saga Partners</a></li><li><a href="https://www.saltlight.co.za/wp-content/uploads/2020/08/SaltLIght-2Q20-Letter-Final.pdf" target="_blank">SaltLight Capital</a> - ($COH.JO, CTK.JO)</li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ce3ae7fe-7fcc-4291-979b-4d30eb11a66a&Name=Q2_2020_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="http://saturna%20capital%20saturna%20capital%20-%20amanafunds%20saturna%20capital%20-%20sextant%20funds/" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/b301205c-52a7-4f24-883c-1f3580537837/SilverRingValuePartners_2020Q2_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_7c247397881f467d9360d21885e78fb4.pdf" target="_blank">Spree Capital</a> - ($STNE, $WIX).</li><li><a href="https://srk-capital.com/content_files/2020/09/SRK-Fund-Q2-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/07/STJIC-Adviser-Letter-2020-Q2-Final.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $BSTC)</li><li><a href="https://taovalue.files.wordpress.com/2020/07/taovalue_2020_q2_final.pdf" target="_blank">Tao Value</a> - ($PDD, $YY, $AVLR, $CIH)</li><li><a href="https://langfrist.de/dokumente/H1_2020_E_Partners_Fund.pdf" target="_blank">TGV Partners Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAREX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TASCX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($WASH, $CKH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAVFX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Value Fund</a> - ($BKRIF, $IFSPF, $LUNMF, $CSFFF).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/08/Third-Point-Q2-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a> - ($BABA, $JD, $AMZN, $DIS, $PUK, $SPGI)</li><li><a href="https://drive.google.com/file/d/1nfnh_0ZD0IGbaB52zeQHGM4ESJTKJ5fQ/view" target="_blank">Tidefall Capital Management</a></li><li><a href="https://www.dropbox.com/sh/bkvnxsr7u27twgu/AABMPqyMuEORLDm6WSyqF7dla/Tollymore%20Q2%202020.pdf?dl=0" target="_blank">Tollymore Investment Partners</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q2.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202020%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f0dd29b6a8632767c30911b/1594741405126/Upslope+-+2020Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($RBA)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_61_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/07/VVP-Quarterly-Letter-20.06.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_a12f91a6fbfb4131afc3d1d848b4ae84.pdf" target="_blank">Wedgewood Partners</a> - ($AAPL, $BKNG, $BMY, $FB, $FLT)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Hickory Fund</a> - ($DLB)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/2q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5f0874ba8817e8400a707586/1594389693251/Quarterly+Letter+-+Q2+2020.pdf?utm_medium=email&_hsmi=91143433&_hsenc=p2ANqtz-8Ko2sOTz4bmQKkH-p3YIfULcolG5rwew-9bA1O9V_uN53WPygN_Q0fFs4scHhjzt3id6F-RguAoCQJ0AJnhDfYRrOHHA&utm_content=91143433&utm_source=hs_email" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">1st Quarter 2020</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5eb05bb94b525e14b5bea7bc/1588616121738/Q1%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($GMS)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/04/Akre-Focus-Fund-Quarterly-Commentary-2020-Q1.pdf">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($EVBG, $EHTH, $QDEL, $CMD, $HSKA, $TCMD)</li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a> - ($AMZN, $NVDA, $NFLX, $CBOE, $FB, $APPL, $V, $MDB).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/04/Alluvial-Capital-Management-Q1-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2020-q1.pdf">Alphyn Capital Management</a> - ($EXXRF, $BAM, $KKR, $BRFRF, $WANSF, $CDAY, $CFX, $OSSIF).</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5eab8f05c455f14a97fbcb32/1588301573873/Q1+2020+Alta+Fox+Capital+Quarterly+Letter-+Final+%281%29.pdf" target="_blank">Alta Fox Capital Management</a> - ($MMMB, $EVVTY, $GMMNF)</li><li><a href="https://drive.google.com/file/d/1y1uNGXNScAjx27rcd6yZf_U6GFWLtmVd/view">Andaz Private Investments</a></li><li><a href="https://ift.tt/2za22cd">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2020/02/APPLX-Q4-2019-Letter.pdf">Appleseed Fund</a> - ($HRTX, $NLY).</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/45aea71a-f4d5-4f4b-98c2-44acc7934978/Arquitos_Investor_Letter_Q1_2020.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $SYTE, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($KMT, $NVST, $PGR).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/04/Arisaig-Quarterly-April-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTKX-APDKX-APHKX-QCommentary-1Q20-vR.pdf">Artisan International Value Fund</a> - ($BABA, $TCOM, $SLB, $TS, $SU, $SNE, $DANOY, $CNHI).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTMX-APDMX-APHMX-QCommentary-1Q20-vR.pdf">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTSX-APDSX-APHSX-QCommentary-1Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2020-partner-letter-X7QTZR97" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/04/Coronavirus-The-Cure-Is-Worse-Than-The-Disease.pdf">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.20.pdf">Baron Asset Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.20.pdf" target="_blank">Baron Discovery Fund</a> - ($INGN, $QLYS, $FND, $SIEN, $PAR, $TXMD, $EVBG, $KTOS, $PENN, $AXNX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.20.pdf" target="_blank">Baron Health Care Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.30_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.2020.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.20.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_3_31_bca_scv_marketcomm_final.pdf" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $MEDP, $SP, $CNK, $PLOW, $CRNC, $TREE, $SERV).</li><li><a href="https://s3.amazonaws.com/bireme/1Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $BKNG, $WFC, $RICK, $KRG)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/04/Investor-Letter-Q1-20-FINAL.pdf">Blue Hawk Investment Group</a> - ($MSFT, $MTCH, $NFLX, $EA, $INTU, $ISRG, $V, $FB, $CHTR, $FND, $STZ, $NYT, $SPLK, $LULU).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e93edd2125a911e469ed339/1586752979541/2020+Q1.pdf">Blue Tower Asset Management</a></li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/762bb2f1-3530-4df8-9178-1acf0c0568f6/0520_Bonhoeffer_Partner_Letter_Q1_2020.pdf" target="_blank">Bonhoeffer Fund</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4595129/1Q_2020_BVG%20Letter.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=87095134&_hsenc=p2ANqtz-8G6GJm2tQ-xl7UIJ2SOoumqTKP4AhC-pkmfW5viIuwNsaxl8CcHOkHkKE0NZfnwUAC6TZZuSUzpyAM76WVz55zUySpCQ&_hsmi=87095134" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf1q20commentary.pdf">Brown Capital Management Mid Company Fund</a> - ($DXCM, $SHOP, $NCLH, $BFAM, $TDOC)</li><li><a href="https://browncapital.com/system/files/scf1q20commentary.pdf">Brown Capital Management Small Company Fund</a> - ($QDEL, $VEEV, $MANH, $PRO, $PLAN, $DDOG, $KIDS, $INCY).</li><li><a href="https://browncapital.com/system/files/ief1q20commentary.pdf">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q20commentary.pdf">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/04/Broyhill-Portfolio-Update-2020.Q1-FINAL.pdf" target="_blank">Broyhill Asset Management</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://cedcapital.in/wp-content/uploads/2020/04/Quarterly-PMS-Letter-Mar20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e85354c10a8a95136c22668/1585788237400/Q12020.pdf">Comus Investments</a></li><li><a href="https://www.crescat.net/wp-content/uploads/Q1-2020.pdf" target="_blank">Crestcat Capital</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/ecf4cd6f-3eb2-4b0c-8efb-1f9d281cfd7f/2020_Q1_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200331_Diamond-Hill_Small-Cap-Fund-Commentary.pdf">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/dcp_1q20_update" target="_blank">Distillate Capital</a></li><li>D<a href="https://mcusercontent.com/90031b83688dd5c83d79fcf31/files/a3202ae7-9dca-471c-94ed-340f07250b85/DKAM_ROE_Reporter_April_2020_.pdf" target="_blank">onville Kent Asset Management</a></li><li><a href="https://www.docdroid.net/kfBxxVh/elliot-letter-april-162020-perspectives-paul-singer-elliott-pdf#page=9">Elliot Management</a></li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2020/" target="_blank">Ensemble Fund</a></li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2020.pdf">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/04/16115847/Client-Letter-Q1-2020_FINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://ift.tt/2VWR7dz" target="_blank">Firebird Management</a></li><li><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_Gold-Update.pdf" target="_blank">First Eagle Global Fund</a></li><li><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200331.pdf">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200331.pdf">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200331.pdf">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200331.pdf">FMI Small Cap Equity</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-03_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NBL, $VNOM, $ISBC)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-update-q1-2020.pdf?sfvrsn=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/2020-3-fef-letter-to-shareholders.pdf?sfvrsn=12">Fundsmith Equity Fund</a></li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5e8f6c4e02b8fa04bead5904/1586457686283/GCAM+initial+letter+2020-03-27.pdf" target="_blank">Giverny Capital Asset Management</a> - ($GOOG, $GOOGL, $KMX, $BRK.B, $PGR, $SCHW, $SSNC, $HEI, $MKL, $ANET)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ea425773459dd34b66cf263/1587815799646/Greenhaven+Road+Letter+%282020+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($SHSP, $APPS, $KKR, $PAR, $KLR, $CSSE, $OPT)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.05.10-Confessions-v3.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4043042/Commentaries/2020.Q1%20Commentary/2020.Q1%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-1Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-1Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q1.pdf" target="_blank">Hayden Capital</a> - ($IBKR, $CVNA)</li><li><a href="http://m.heartlandadvisors.com/mid-cap-value-fund-q1-commentary.pdf" target="_blank">Heartland Mid Cap Value Fund</a> - ($WU, $PXD, $AAP)</li><li><a href="http://m.heartlandadvisors.com/select-value-fund-q1-commentary.pdf" target="_blank">Heartland Select Value Fund</a> - ($GRC, $CALM, $JNJ)</li><li><a href="http://m.heartlandadvisors.com/value-fund-q1-commentary.pdf" target="_blank">Heartland Value Fund</a> - ($MDU, $MDC,$EVTC)</li><li><a href="http://m.heartlandadvisors.com/value-plus-fund-q1-commentary.pdf" target="_blank">Heartland Value Plus Fund</a> - ($IDCC, $HTLD)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q1NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2020-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($BA, $ADM, $CRL, $ICE, $BTC).</li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q20.pdf" target="_blank">Horos Asset Management</a> - ($TGP, $TK, $GLNG, $AER, $NPSNY).</li><li><a href="https://www.dropbox.com/s/nqwe7xcvwjfxysy/Huffman%20Prairie%20-%201Q2020%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/02/2019-Annual-Letter-JDP-Capital-Management.pdf">JDP Capital</a> - ($SPOT, $STNE, $XPO)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5ea5f560592a27104f5c8cf0/1587934561140/Laughing+Water+Capital+Q1%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/ofrydh35bl0xctw/Lightsail%201Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/ltglobal-equity-fund/LTGEF_Latest.pdf">Lindsell Train</a>- ($WWE, $DIS, $DEO, $BF.A, $EBAY, $PYPL, $INTU)</li><li><a href="https://southeasternasset.com/commentary/1q20-llpf-commentary/">Longleaf Partners Fund</a> - ($H, $DD, $CTL, $CNHI, $PK, $CKHUY, $MAT).</li><li><a href="https://southeasternasset.com/commentary/1q20-llgl-commentary/">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llin-commentary/">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/1q20-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/04/2020-03-March-Performance-Update-Public.pdf">LRT Capital</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a> - ($CSL).</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5ea1a3fb6d7e355e7a72a301/1587651580748/Maran+Partners+Fund+LP+2020+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20First%20Quarter%20Letter%20to%20Investors.pdf?utm_source=hs_email&utm_medium=email&utm_content=86138479&_hsenc=p2ANqtz-85M_ZqQO42g6PDwSL7bISxrDZM6OIQj5JzJ9uWzZx5Pf0pU87NtPhlX2MKkKLQ0F5775rJ5yF6-0W92JiA-wFdmFYs5g&_hsmi=86138479">Massif Capital</a></li><li><a href="https://www.mawer.com/assets/Newsletters/1Q20-Quarterly-Series-A-Net-1.pdf">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_b57612e6cdaa48429a600bdfe37560c4.pdf">Merion Road Capital</a> - ($CPRT, $EVBG, $RMCF)</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2020_03.pdf">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2020_03.pdf">Moneta MultiCaps C</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/04/2020Q1.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($GSK)</li><li><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2020/">Oakmark Fund</a> - ($AXP, $MTCH, $PINS, $WDAY)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2020/">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2020/">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d588a8b5d90047478bfcd71d0c8dd0a1.pdf">Old West Investment Management</a></li><li><a href="https://drive.google.com/file/d/1tD5XOGaM8cls4v95DSXFF131OYYpAMxE/view" target="_blank">Open Square Capital</a></li><li><a href="https://www.osam.com/pdfs/research/OSAM%20Update_Blizzard,%20Winter,%20or%20Ice%20Age_FINAL.pdf">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a> - ($AAP, $AGI, $BHE, $CRI, $CASS, $DKS, $EZPW, $GENC, $HCSG, $HP, $SLV, $KELYA, $OR, $SCHL, $SKX, $SP, $SYKE, $UNF, $UG, $WMK).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ABT, $BKNG, $FB, $ORLY, $ADSK, $REGN).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5ea714f9981de6313a251243/1588008188839/RF+Capital+Q1+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/a591f71a-64ef-4ca1-80dc-2ea2a4646172/Rhizome_Partners_Q1_2020_Investor_Letter_Final.pdf">Rhizome Partners</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/04/Q1-2020-Investment-Commentary-FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($NUAN)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q20.pdf">RiverPark Large Growth Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_1Q20.pdf">RiverPark Long/Short Opportunity Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT, $COST, $APO, $KKR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_1Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($FAST, $KEYS, $MSFT, $ROSS).</li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan-Street-Capital-Q1-2020-Letter-1.pdf" target="_blank">Rowan Street Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_4ad59d00e289448cabcd6a61a130760e.pdf" target="_blank">Saga Partners</a> - ($AYX $CVNA $DBX $FB $LGIH $LIMAF $TTD $TRUP $VSEC $WIX)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q1-2020-web.pdf" target="_blank">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q1-2020-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q1-2020-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://moiglobal.com/wp-content/uploads/Semper-Vic-Partners-L.P.-Letter-to-Investors-April-2020.pdf" target="_blank">Semper Vic Partners</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ee82efca-a8be-4855-b3e0-e3ba3069a318&Name=Q1_2020_-_Investor_Letter">Sequoia Fund</a></li><li><a href="https://smeadcap.com/files/7915/8696/1388/1Q_2020_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://srk-capital.com/content_files/2020/05/SRK-Fund-Q1-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/04/STJIC-Adviser-Letter-2020-Q1.pdf">St. James Investment Company</a></li><li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ff8c300-0ef4-4034-914b-cbd5c86d581d/Steel_City_Capital_1Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/1Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a></li><li><a href="https://taovalue.files.wordpress.com/2020/05/taovalue_2020_q1_final-1.pdf" target="_blank">Tao Value</a> - ($GILD, $CACC, $ADS, $NXRT, $$BILI)</li><li><a href="https://static1.squarespace.com/static/54ce2abfe4b0513e12ea592f/t/5e886ec613e1233cd43c8cae/1585999558895/Templeton+and+Phillips+Commentary+-+March+2020.pdf">Templeton and Phillips Capital Management</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a> - ($CALM, $CET, $BATRA, $BATRK).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAVFX-Shareholder-Letter-Web.pdf">Third Avenue Value Fund</a> - ($BMWYY, $DB, $IFSPF, $HA, $ORI, $FDX, $VNO)</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/04/Third-Point-Q1-2020-Investor-Letter-TPOI-1.pdf" target="_blank">Third Point</a></li><li><a href="https://drive.google.com/file/d/1jshHJg_zQ30ZvmrU8iBTIBX9zE6CDtdo/view" target="_blank">Tidefall Capital Management</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q1.pdf">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202020%20-%20Final.pdf">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e99e67f7f671d105bf293af/1587144320124/Upslope+-+2020Q1+Letter.pdf" target="_blank">Upslope Capital Management</a></li><li><a href="https://www.docdroid.net/q7NxMcX/universa-investments-q1-2020-letter-pdf#page=6">Universa Investments</a></li><li><a href="https://mcusercontent.com/2686100c548ffa2b413d5cb29/files/3cb819ec-c2d9-4ff5-870b-cc86b4d93fbd/Vltava_Fund_Letter_to_Shareholders_Q1_2020.pdf">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/04/VVP-Quarterly-Letter-20.03.31.pdf">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q1-2020-REV-FNL.pdf">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200406/pdf/44gqxsc6q8zjdy.pdf">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f47cdae028142f1ade840f42986ab09.pdf">Wedgewood Partners</a> - ($FAST, $FB, $KEYS, $MSFT, $ROSS, $NVDA, $EA, $BKNG, $EW).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/1q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://mcusercontent.com/d194e1b3fd218137abdb074da/files/90c79ff7-93d3-49ac-9da6-1f1ea8209ae0/2020_04_16_White_Crane_Q1_2020_Letter.pdf">White Crane Capital</a></li><li><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/securepdfs/2020/04/23094734/Wolf-Hill-Q1-2020-Letter.pdf" target="_blank">Wolf Hill Capital</a> - ($HGV, $MIDD)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5ea1a3a3bc77342600cf7649/1587651493472/Worm+Capital+-+Q1+2020+Investor+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><span style="font-size: large;"><br /></span><span style="font-size: large;">4th Quarter 2019</span><br /><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5e35af9e12c5156ca6085326/1580576670740/Q4%2719+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($ISDR, $RICK, $TSSI, $DPZ)</li><li><a href="https://drive.google.com/file/d/1ANcyf36aA9H83xfjYF3N5Z6Rc2YaS75q/view" target="_blank">2Point2 Capital</a></li><li><a href="https://gallery.mailchimp.com/f6660ee7c7b25c0643c0e8337/files/53f90575-0084-456e-b563-3e47282ae860/Admiral_Cap_4Q19_Letter.pdf">Admiral Capital Partners Fund</a> - ($CVNA, $GDDY, $GTT).</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/01/Alluvial-Capital-Management-Q4-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $CRAWA, $BUKS, $NUVR, $LICT)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5e3633d4cd5a0d4354e18334/1580610521595/Q4+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a></li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q4.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://drive.google.com/file/d/1OSNsquPrryvmnAYEPpfK8VMGtb5qSILE/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://ift.tt/2TwwgOx" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($ARDX, $SAVE, $MOS, $SINA, $SNE, $RYAAY).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Funds</a> - ($CCL, $NLSN).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/APFDX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTMX-APDMX-APHMX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($SWKS, $TW, $CMS, $UA, $ABMD, $ZS, $BURL, $AMD, $ANET, $SERV, $DXCM).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTSX-APDSX-APHSX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTLX-APDLX-APHLX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Value Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2019-partner-letter-w57TvkLz" target="_blank">Artko Capital</a> - ($MO, $REPH, $GAIA, $RSSS)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/02/2020-02-17-Askeladden-Capital-Q4-2019-Letter-Breaking-Bad.pdf">Askeladden Capital</a></li><li><a href="https://content.rwbaird.com/RWB/Content/PDF/AssetManagement/Q3-2019-Mid-Cap-Growth-Mutual-Fund-Commentary.pdf">Baird MidCap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Asset Fund</a> - ($DXCM, $SAGE).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Discovery Fund</a> - ($PGNY, $ESPR, $SIEN, $SITE, $ICHR, $TXMD, $MRCY, $FSCT, $TCMD, $SCPPF, $OLLI, $BRP, $CDNA).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%2012.31.19_0.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Small Cap Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Real%20Estate%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="http://www.bernzott.com/uploads/1/5/9/5/15953620/2019_12_31_bca_scv_marketcomm.pdf?utm_source=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $PLOW, $LOGM, $MG, $MIK, $CNK, $CTLT, $EPAM, $AGS).</li><li><a href="https://s3.amazonaws.com/bireme/4Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a> - ($KRG, $DNKN)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/01/Q4-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e2e81226ba9076709046053/1580106019545/2019+Q4.pdf" target="_blank">Blue Tower Asset Management</a></li><li><a href="http://boyarvaluegroup.com/bvg-pdf/4Q_2019_BoyarResearch.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=82628381&_hsenc=p2ANqtz-_eFJS4AvVpyZPJ93cqx7hT_a3Ecgy_iQ8I_KJWvq6pyI5hY8KWOrRF3lJXq2wgq7vsVrrVKm3ExXWqv88qtB2prmxWqg&_hsmi=82628381" target="_blank">Boyar Group</a></li><li><a href="https://browncapital.com/system/files/mcf4q19commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf4q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($VEEV, $GKOS, $TNDM, $SMAR).</li><li><a href="https://browncapital.com/system/files/ief4q19commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf4q19commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/02/The-Broyhill-Letter-2020.02-FINAL.pdf">Broyhill Asset Management</a></li><li><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2020/01/bumbershoot-holdings-2020-1-jan-letter-to-partners-2019-1.pdf" target="_blank">Bumbershoot Holdings</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://citronfund.com/wp-content/uploads/2020/01/Citron-Capital-Annual-Investor-Letter-for-2019.pdf" target="_blank">Citron Capital</a> - ($RH, $PTON).</li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2019+Q4+Letter.pdf">Coho Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e181bff65c626738a349429/1578638336674/FY2019.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($YUMC, $FRRVF, $PTC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5e3048cf9826d330d5c2854e/1580222671293/Q4+and+YE+2019+Letter.pdf" target="_blank">Curreen Capital</a></li><li><a href="https://danwang.co/2019-letter/" target="_blank">Dan Wang</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a>.</li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFAnnualReview.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYVFPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Midcap-Letter-4Q19.pdf" target="_blank">DF Dent Midcap Growth</a> - ($ODFL, $TWLO, $VEEV, $ANSS, $MCO, $CBRE, $VRSK, $VMC, $MKL).</li><li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Small-Cap-Letter-4Q19.pdf" target="_blank">DF Dent Small Cap Growth</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/191231_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/90031b83688dd5c83d79fcf31/files/48eecab4-b7af-4d56-8e05-f3d54f33d10f/DKAM_ROE_Reporter_January_2020_.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://www.nsx.com.au/ftp/news/021737727.PDF" target="_blank">East 72 Holdings</a></li><li><a href="https://gallery.mailchimp.com/dd77d6a119e511a93e9308144/files/98e445bf-1c22-4a23-8a6b-1d71d798899f/Edgebrook_Mid_Year_Letter_2019.pdf" target="_blank">Edgebrook Partners</a> - ($APEUF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2019/" target="_blank">Ensemble Fund</a> - ($PAYX, $BR)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2019.pdf">Evermore Global Value Fund</a> - ($IAC, $MTCH, $ANGI, $STNG, $KRA, $ENZ).</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15183252/Q4-2019-Broadview-Dark-Horse-Quarterly-Letter.pdf" target="_blank">Ewing Morris Dark Horse</a> - ($LQSIF)</li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15170401/Q4-2019-Final-1.pdf" target="_blank">Ewing Morris Opportunities Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-12_final.pdf?sfvrsn=8">FPA Capital Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2019.pdf?sfvrsn=6" target="_blank">Fundsmith Equity Fund</a></li><li><a href="http://gatorcapital.com/wp-content/uploads/2020/01/GFP-Q4-Investor-Letter-Updated.pdf" target="_blank">Gator Capital Management</a></li><li><a href="http://www.givernycapital.com/en/doc/236/Giverny_Capital_-_Annual_Letter_2019_web_.pdf">Giverny Capital</a></li><li><a href="http://www.goodhavenfunds.com/media/pdfs/2019_AR.pdf" target="_blank">GoodHaven Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5e4703048934db2c06ec56ae/1581712134756/Greenhaven+Road+Letter+%282019+Q4%29.pdf">Greenhaven Road Capital</a></li><li><a href="https://www.scribd.com/document/443770600/Greenlight-Q4-2019#download&from_embed" target="_blank">Greenlight Capital</a> - ($AER, $AGO, $ATC, $BHF, $CC, $GM, $GRBK, $NFLX, $DXC).</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.01.23-Q4-Letter-v5.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-4Q19-Report.pdf">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2019/IE-4Q19-Report.pdf">Harding Loevner International Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2019/ISC-4Q19-Report.pdf">Harding Loevner International Small Companies Equity</a> - ($GUZOF, $ALICORC1, $PGENY).</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-4Q19-Report.pdf">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q4.pdf">Hayden Capital</a> - ($SE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($LEG, $EXC, $UMBF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SCHW, $GTS, $CONE).</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TBBK, $AMRC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($ASB, $PAHC)</li><li><a href="http://www.hgcinvest.com/wp-content/uploads/2020/01/HGC-Arb-Letter-December-2019.pdf" target="_blank">HGC Investment Management</a> - ($GSAC, $DEAC).</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2019Q4NP.pdf">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q4-2019-Horizon-Kinetics-Commentary_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q19.pdf">Horos Asset Management</a></li><li><a href="https://www.dropbox.com/s/wj5xngs5dpjc0la/Huffman%20Prairie%20-%202H2019%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a> - ($PKE)</li><li><a href="https://l1international.com/wp-content/uploads/2020/01/L1-Capital-International-Fund-Quarterly-2019-12.pdf" target="_blank">L1 Capital International Fund</a></li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5e3b0e94a8e0ad4a457d4a5e/1580928660765/Laughing+Water+Capital+YE+2019.pdf">Laughing Water Capital</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/lt-uk-fund/2019/LTUK_MR_2019_12.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5e33310f6cac3d0b6f0a070d/1580413200079/4Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $CTEK, $SFE, $PESI)</li><li><a href="https://southeasternasset.com/commentary/4q19-llpf-commentary/">Longleaf Partners Fund</a></li><li><a href="https://www.lyricalam.com/wp-content/uploads/2020/01/LAM-2019-Review-letter.pdf" target="_blank">Lyrical Asset Management</a></li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5e323c32f8043d0750f9a1f1/1580350515744/Maran+Partners+Fund+LP+2019+Q4+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RNGR, $SDI).</li><li><a href="https://www.mcmadvisors.com/wp-content/uploads/2020/01/Martin-Capital-Management-2019-Annual-Report.pdf" target="_blank">Martin Capital Management</a></li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Year%20End%20Letter.pdf?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-8wWAtvLCSJ92jhQUdjS_UF5sLUTcGZPdtnlxPMJfKIFGmlgVgnj1U2Yj9GHeBoCbudkm9l" target="_blank">Massif Capital</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_4b6d6eb57e724504b2acd6925fe444a6.pdf" target="_blank">Merion Road Capital</a> - ($TTWO, $ODP)</li><li><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf">Miller Value Fund</a> - ($FTCH, $ET, $CDEV).</li><li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2019_12.pdf" target="_blank">Moneta Long Short A</a></li><li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2019_12.pdf" target="_blank">Moneta MultiCaps C</a></li><li><a href="https://drive.google.com/file/d/1HXfARV-D0Ty0LjixHFdMQc9keEOyV3XN/view" target="_blank">MPE Capital</a> - ($CACC).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/01/2019-Nelson-Roberts-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($IBM)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Fourth-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_1eee8738221f439bacc164cda1472ccf.pdf">Old West Investment Management</a> - ($GOLD)</li><li><a href="https://www.osam.com/pdfs/research/Q4%202019%20Investor%20Letter%20-%20FINAL.pdf" target="_blank">O’Shaughnessy Asset Management</a></li><li><a href="https://www.palmharbourcapital.com/files/PHC%20Q4%202019%20Letter.pdf" target="_blank">Palm Harbour Capital</a></li><li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_7f7cfd9362f1496597164ec1ee5a1757.pdf" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/dab30c88-52e6-425d-94a0-2f672f543d3f/4Q19%20Parnassus%20Core%20Equity%20Fund%20Commentary.pdf">Parnassus Core Equity Fund</a></li><li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/fc4897bd-50cb-43fb-9296-bddb814716c6/4Q19%20Parnassus%20Mid%20Cap%20Fund%20Commentary.pdf">Parnassus Mid Cap Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $CRM, $ABT, $NOW, $ORCL).</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Global Growth</a> - ($MSFT, $BABA, $ABT)</li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5e66d8317891847c6cd48c38/1583798321575/RF+Capital+Q4+2019+Investor+Letter.pdf">RF Capital Management</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2020/01/2019-Year-End-Commentary_FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($ANGI, $DBX, $GRUB, $TWTR)</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($AAPL, $UNH, $BX, $MSFT, $ADSK, $SDC, $TWTR, $NOC, $TDC, $TWLO).</li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_4Q19.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_4Q19_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/01/Dont-Cha-Know.pdf" target="_blank">RLT Capital</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Fund.pdf">RMB Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Small-Cap-Fund.pdf">RMB Small Cap Fund</a></li><li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-SMID-Cap-Fund.pdf">RMB SMID Cap Fund</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/aaf68a26-7a10-4c45-bfe1-fb0cb97b85d1/Saber_Investment_Fund_Q4_2019_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c69e35b055894d1aad827cde8423bc2f.pdf">Saga Partners</a> - ($TTD, $LIMAF, $FB, $LGIH, $VSEC, $CVNA)</li><li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q4-2019-web.pdf">Saturna Capital</a></li><li><a href="https://www.saturna.com/sites/default/files/Amana-Q4-2019-web.pdf">Saturna Capital - AmanaFunds</a></li><li><a href="https://www.saturna.com/sites/default/files/Sextant-Q4-2019-web.pdf">Saturna Capital - Sextant Funds</a></li><li><a href="https://static.fmgsuite.com/media/documents/c388840b-3dda-41da-a062-077bf785255b.pdf">Semper Augustus</a></li><li><a href="https://www.ruanecunniff.com/Download.aspx?ID=7a947f03-c188-49d6-b32f-9cddfe5ebb9a&Name=Q4_2019_-_Investor_Letter" target="_blank">Sequoia Fund</a></li><li><a href="https://gallery.mailchimp.com/57cdfc490b101d54b70128c06/files/a813a300-8f68-43cb-8b3d-2fa28aed58fb/SilverRingValuePartners_2019Q4_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/files/9315/7910/2122/4Q_2019_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li><li><a href="https://www.socialcapital.com/annual-letters/2019.pdf">Social Capital</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_d91d278701ba4b21afd564ffabb36d1f.pdf" target="_blank">Spree Capital</a> - ($RST, $MTCH, $FERGY).</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2019-Annual-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($TARO, $EGRX, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2020/02/taovalue_2019_q4_final.pdf">Tao Value</a></li><li><a href="https://www.langfrist.de/dokumente/2019_e_Rubicon_full.pdf" target="_blank">TGV Rubicon Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($GPOR.L, $HHC, $PSA, $VNO, $SRG, $FPH).</li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BMWYY, $DB, $MAC).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/01/Third-Point-Q4-2019-Letter-TPOI-Final.pdf" target="_blank">Third Point</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2019-Q4.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://mcusercontent.com/2506bda6ca9a8b7ce8b3c54b4/files/0c17bc16-6a20-4c24-8459-53e800315fe7/TARF_2019_Annual_Commentary_vFinal.pdf" target="_blank">Tyro Capital Management</a> - ($MO, $REPH, $SKY, $SMCI, $MTCH, $UBSFF, $BXC, $MYOV)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e209a872cfe3e653d0bd4bd/1579195017065/Upslope+-+2019Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FOCS, $DLTR)</li><li><a href="https://www.dropbox.com/s/lgqbpo4oownzo5m/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q4%202019%20%28V1.1%29.pdf?dl=0&utm_source=The+Vilas+Fund%2C+LP&utm_campaign=d48e03b6f7-4Q2019+Main&utm_medium=email&utm_term=0_d81d32d2af-d48e03b6f7-431110445" target="_blank">Vilas Fund</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_58_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://www.asx.com.au/asxpdf/20200108/pdf/44d49tnm31r1hz.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_b41d00a2669749f4babb2c468e820ecd.pdf" target="_blank">Wedgewood Partners</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Hickory Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners III Opportunity Fund</a> - ($SIRI, $LSXMB, $EVREF).</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/ds32xz73grnzqbxdargxzancsg91q7it" target="_blank">White Brook Capital</a></li><li><a href="https://gallery.mailchimp.com/d194e1b3fd218137abdb074da/files/a8558333-dad0-40c8-8abd-8468fb20e0f9/2020_01_21_WCMSF_Q4_2019_Letter.pdf" target="_blank">White Crane Capital</a></li><li><a href="https://www.docdroid.net/tJT1NRd/wolf-hill-2019-year-end-letter.pdf" target="_blank">Wolf Hill Capital</a> - ($CNR, $REGI, $WTSHF)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5e1d007471426f2f29068da4/1578958966239/Worm+Capital+2019+Year+End+Letter.pdf" target="_blank">Worm Capital</a></li></ul><br /><br /><span style="font-size: large;">3rd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/10/Alluvial-Capital-Management-Q3-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $LICT, $NUVR, $APTL, $NORSA, $PIOE, $MHGU, $ITD.IM, $EDAC.IM, $SIO.IM)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q3.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5db8fdd21b54db1101ac3c18/1572404691231/Q3+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($KRMD, $KYYWF, $STKS)</li><li><a href="https://www.docdroid.net/I8sosdq/andaz-notes-2019-09-30.pdf" target="_blank">Andaz Private Investments</a> - (CBS.B, $VIAB)</li><li><a href="https://ift.tt/35Tb1KD" target="_blank">Andvari Associates</a></li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($SINA, $WB, $MOS, $SAVE, $ARDX, $SNE, $RYAAY)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/eb95b5c5-e141-4f87-b0d5-95d5e1a7a2a5/Arquitos_Investor_Letter_Q3_2019.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $WEDXF)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BX, $BWA, $DIFTY, $ZBH)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTMX-APDMX-APHMX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($ALXN, $EXAS, $GDI, $GWRE, $CTLT, $BURL, $PAGS, $LHX, $ANET, $ASND)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTSX-APDSX-APHSX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-3q-2019-partner-letter-EvrTnLGB" target="_blank">Artko Capital</a> - ($FTK, $LEAF, $SKY, $USAT, $EEI, $SPAR)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/11/2019-10-28-Askeladden-Capital-Q3-2019-Letter-Earn-It.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Asset Fund</a> - ($CCC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Discovery Fund</a> - ($TXMD, $FND, $TREX, $MRCY, $KNSL $VRAY, $SILK, $BE, $CDNA, $TPIC, $MDLA, $PING, $WMS, $VRNS, $INGN)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Investor%20-%20Baron%20Small%20Cap%20Fund%203Q19.pdf" target="_blank">Baron Small Cap Fund</a> - ($CDAY, $CCC, $COLD)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $SP, $PLOW, $OI, $AGS, $QUOT,$ CTLT, $EPAM, $KN, $CLDR, $AGS, $GNRC)</li><li><a href="https://s3.amazonaws.com/bireme/3Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $COKE)</li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/10/Q3-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($SFIX, $GRUB, $MTCH, $NFLX)<span id="goog_146329209"></span><a href="https://www.blogger.com/"></a><span id="goog_146329210"></span></li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5dad22ac218aa17443c4035b/1571627692663/2019+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2d3eecc8-c31e-45c7-8c24-e0e1a8269ac3/1019_BCM__Partner_Letter_Q3_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $CAMB.LN)</li><li><a href="https://browncapital.com/system/files/scf3q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($TYL, $MANH, $ABMD, $INGN)</li><li><a href="https://browncapital.com/system/files/mcf3q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a> - ($EW, $TYL, $ALGN, $ULTA, $MKTX, $CRL, $JBHT)</li><li><a href="https://browncapital.com/system/files/ief3q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a> - ($CZMWF, $ESLOY, $QGEN, $IPSEF, $MONOY)</li><li><a href="https://browncapital.com/system/files/iscf3q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/10/2019-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> ($RUBI, $BXC, $HOME, $QMCO)</li><li><a href="https://drive.google.com/file/d/1jzHBEfehpV9TfzwFhiGl91UMVtnGwWjS/view">Compound Everyday Capital</a></li><li><a href="https://gallery.mailchimp.com/a6cd0be2415ea775a57718587/files/14809e7f-2f16-4cb8-8fb3-8c589f63c6ed/50._Q3_2019.pdf" target="_blank">Compound Money Fund</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5db88acf71786e4ef3228683/1572375248129/2019Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($IPGLF, $NVST, $A, $FRC)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5da0d2a16603d478b62581b4/1570820769906/Q3+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($GTX, $KTB, $MFGP, $BLD)</li><li><a href="https://davisfunds.com/downloads/DFFInterview.pdf" target="_blank">Davis Financial Fund</a></li><li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a> - ($JD, $AMAT)</li><li><a href="https://davisfunds.com/document/read/DNYPMComm" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/bf83181f-b69f-4ece-a640-a4007c15ed07/Q3_2019_Investor_Letter_Desert_Lion_Capital.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/190930_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/10/E72-Quarterly-Report-Sept-2019.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $DTLA, $FFXDF, $VULC, $PICO)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2019/" target="_blank">Ensemble Fund</a> - ($MA, $TIF)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2019.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2019/10/07164955/Quarterly-Update-Q3-2019.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/funds/shrpt/ann_shrpt_093019.pdf" target="_blank">Fiduciary Management FMI Large Cap</a> - ($HDS)</li><li><a href="https://t.co/3lQBLZ89rY?amp=1" target="_blank">Firebird Management</a> - ($LNC, $GES)</li><li><a href="https://focusedcompounding.com/wp-content/uploads/2017/06/Q3_2019_Letter_to_Clients-1.pdf" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI, $TPHS, $KEWL, $MLP)</li><li><a href="https://www.asx.com.au/asxpdf/20191011/pdf/449dftp5k138nd.pdf" target="_blank">Forager Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2019-q3b0f6f4531b0367849d6cff0000f7084a.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-09.pdf?sfvrsn=8" target="_blank">FPA Capital Fund</a> - ($AMBA, $NBL, $DAN, $IDCC)</li><li><a href="http://gatorcapital.com/wp-content/uploads/2019/10/GFP-Q3-Investor-Letter.pdf" target="_blank">Gator Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5daa7eaeab96a61181bef76f/1571454639744/Greenhaven+Road+Letter+%282019+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($NTDOY, $CSSE, $KKR, $BXC, $APPS, $PAR, $SHSP, $GIGRT, $GIGWS)</li><li><a href="https://www.docdroid.net/hM7Tnw8/qlet2019-032.pdf" target="_blank">Greenlight Capital</a> - ($NFLX, $TSLA, $CC)</li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.11.14-Q3-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://ift.tt/34FFgn5" target="_blank">Goehring & Rozencwajg</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q3.pdf" target="_blank">Hayden Capital</a> - ($CACC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a></li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SAFM, $MHK, $CVS)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($VST, $LNDC)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a></li><li><a href="https://www.docdroid.net/pCmtahr/hellerhouseopportunityfund-2019q2letter-public.pdf#page=17" target="_blank">Heller House Opportunity Fund</a> - ($SHOP $WORK $ROKU)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://www.dropbox.com/s/l24e3ilw0j2kkyq/Lightsail%203Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/investment-insights/2019/Are%20You%20Experienced%20-%20November%202019.pdf" target="_blank">Lindsell Train</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5db9dbd123316d682a695a20/1572461522295/3Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $PSSR, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/3q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CTL, $GOOG, $GOOGL, $CMCSA, $GE, $FDX, $FRFHF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5db9f8173907823b364ebba8/1572468760093/Maran+Partners+Fund+LP+2019+Q3+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RCMT)</li><li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Third%20Quarter%20Letter%20to%20Investors.pdf" target="_blank">Massif Capital</a> - ($DO, $TOO, $EAF, $DE, $UNP, $CSX, $NCLH)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_adb2e39184484fd5a9374a1b8ddad5fe.pdf" target="_blank">Merion Road Capital</a> - ($HXL, $IAA, $TRNS)</li><li><a href="https://www.hvst.com/organization/meson-capital-partners-llc/posts/meson-q3-update-man-vs-machine-wPZT3xZx" target="_blank">Meson Capital</a></li><li><a href="https://brookvine.com.au/wp-content/uploads/2019Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/10/2019-Q3-Nelson-Roberts-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($SIVB, $SCHW, $AKAM, $PFE, $DLR)</li><li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Third-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a> - ($GOOG, $CHTR, $DDAIF, $APA)</li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_fe35b044b6f9420aa65670c4b7dfbf7f.pdf" target="_blank">Old West Investment Management</a></li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_2044e47207184e0a96223be92f96d4b5.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.B, $CRD/B, $GENC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $IT, $MSCI)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a> - ($ALGN, $ABT, $SGSOY)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a> - ($TREX, $FND, $LMAT, $FOXF, $OLLI, $TREE, $APPF, $ALTR)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://files.constantcontact.com/07cbbb80601/d7746d56-0340-44ba-b2d3-fb41d43a159a.pdf" target="_blank">Rangeley Capital</a> - ($CHTR)</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5db930e3f152967e525fbd89/1572417764733/RF+Capital+Q3+Letter+2019.pdf" target="_blank">RF Capital Management</a> - ($FL, $GAPFF, $ZAGG, $GME, $GTX)</li><li><a href="http://www.rgaia.com/q32019-investment-commentary-kambi/" target="_blank">RGA Investment Advisors</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($GOOG, $BX, $AAPL, $NOC, $EQIX, $EXAS, $ALGN, $AMZN, $SDC, $ULTA, $TWLO)</li><li><a href="http://www.rmbcap.com/files/RMB_Core_Equity_-_Investor_Letter_3Q19.pdf" target="_blank">RMB Core Equity Fund</a></li><li><a href="https://themarketplunger.com/2019/11/12/q3-2019-letters/" target="_blank">Rockvue Capital</a> - ($UAA, $FOX)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/4d8542a4-48be-4664-bc79-6506621e8100/Saber_Investment_Fund_Q3_Letter.pdf" target="_blank">Saber Capital Management</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_7f9545a28a0a48129a7920980b5b2f27.pdf" target="_blank">Saga Partners</a> - ($VSEC)</li><li><a href="https://sevencanyonsadvisors.com/resources/seven-canyons-world-innovators-quarterly-commentary/" target="_blank">Seven Canyons World Innovators</a></li><li><a href="https://docs.wixstatic.com/ugd/de07f6_0c03e7d62d824ca98a96fa974471a7fb.pdf" target="_blank">Spree Capital</a> - ($CFX, $CARS)</li><li><a href="https://srk-capital.com/content_files/2019/11/SRK-Fund-Q3-2019.pdf" target="_blank">SRK Capital</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/3Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($SLGD, $BSTC, $ELMD)</li><li><a href="https://taovalue.files.wordpress.com/2019/10/taovalue_2019_q3_final.pdf" target="_blank">Tao Value</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/11/2019-Q3-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($CLNY, $GWW, $HNGKY)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CTB, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2019/10/Third-Point-Q3-2019-Letter-TPOI-.pdf" target="_blank">Third Point Offshore Fund</a> - ($ESLOY, $SNE)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5da981abd30f37336bb612b3/1571389868322/Tollymore+letter+Sep+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($GRUB)</li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Fund</a> - ($KRNTY, $FOX $FOXA, $TBABF, $BIDU)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5da09b01c80d065ebaf8d703/1570806531156/Upslope+-+2019Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($IT)</li><li><a href="https://www.dropbox.com/s/vsrenaad14f2bxa/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q3%202019%20%28Final%29.pdf?dl=0&utm_source=Website+Signup+-+Vilas+Capital+Management%2C+LLC&utm_campaign=8004c87a9b-3Q2019+Ltr_Web&utm_medium=email&utm_term=0_0fbdf27fc5-8004c87a9b-431098533" target="_blank">Vilas Capital</a></li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_57_en.pdf" target="_blank">Vltava Fund</a> - ($BRK.A, $BRK.B, $SBRCY, $BMWYY)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_03b9a051772a4b9792c849ed7f74150a.pdf" target="_blank">Wedgewood Partners</a> - ($CDW, BRK.B, $NVDA, $ULTA)</li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/3Q19_Value%20Matters.pdf?1572140971546" target="_blank">Weitz Value Fund</a></li><li><a href="https://whitebrookcapital.app.box.com/s/4giogadrnt294d6q8t3a4awtxhrkjmjh" target="_blank">White Brook Capital</a> - ($BOX, $GRPN)</li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5db752012422566f6f7f86a4/1572295170818/Q3+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li></ul><div><br /></div></div><span style="font-size: large;">2nd Quarter 2019</span><br /><br /><div><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/07/Alluvial-Capital-Management-Q2-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $NUVR, $MMAC, $RAMPF, $CLWY, $CMLS, $FTR)</li><li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5d3a2ee5c694120001688a00/1564094184541/Q2+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($PAYS, $KWS, $NTDOY)</li><li><a href="https://www.dropbox.com/s/19lcbm48spw3g9c/Andvari-2019q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MLAB, $UPLD, $APPN, $BL, $WDAY, $TYL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/08/APPLX-Q2-2019.pdf" target="_blank">Appleseed Fund</a> - ($CRTO, $SINA)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAZ, $TAP, $MTSC)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/6b4ee586-4e8c-4044-a1be-d9f30c4f9e34/Arquitos_Investor_Letter_Q2_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC)</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTMX-APDMX-APHMX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTSX-APDSX-APHSX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-2q-2019-partner-letter-EvrTnmKZ" target="_blank">Artko Capital</a> - ($CCNI, $JYNT, $WFCW, $FLL, $NRCGW)</li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/07/2019-06-29-Askeladden-Capital-Q2-2019-Letter-Askeladden-Reloaded.pdf" target="_blank">Askeladden Capital</a> - ($FC, $AER, $DLTH, $LGIH, $SFM, LQDT)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $IDXX, $SSNC, $BNFT, $IRDM, $FDS, $ACGL, $RRR, $TWOU, $CVET, $ADPT, $ALEC)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $ACGL, $CHH, TSLA, $BNFT, $MANU)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($IDXX, $JBT, $SITE, $TTD, $BFAM, $GTT, $RRR, $CISN, $PRA, $CVET, $TREX)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_6_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $GNRC, $BV, $CLDR, $SSTK, $MIK, $EPAM, $SNPS, $LOGM, $INOV, $CARB, $MINI)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-2q19-quarterly-letter" target="_blank">Bireme Capital</a></li><li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/07/Q2-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $GRUB, $TRIP)</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5d350ce2e13121000110246f/1563757795868/2019+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($CNR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/8ef5fe82-9246-4fdd-afb3-8bb4681ebb8b/0719_BCM_Partner_Letter_Q2_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $GTN)</li><li><a href="https://browncapital.com/system/files/scf2q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf2q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief2q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/07/2019-Q2-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($DEST, $BXC, $PAR)</li><li><a href="https://www.docdroid.net/IereKR2/coho-capital-2019-q2-letter.pdf" target="_blank">Coho Capital</a> - ($GDDY)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5d1909fa11a9570001ea18c8/1561922043505/2019Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FISV, $FRRVY, $FRRVF, $TTNDY)</li><li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5d2fbf4e8b4dd7000199603e/1563410254409/Q2+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($KTB)</li><li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/5fd3b3ea-7001-4c07-8d63-f95d455af921/Q2_2019_Desert_Lion_Capital_Letter.02.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="http://east72.com.au/wp-content/uploads/2019/07/E72-Quarterly-Report-June-2019.pdf" target="_blank">East 72 Holdings</a> - ($AFTPF, $ADS)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2019/" target="_blank">Ensemble Fund</a> - ($BR, $SBUX, $FAST, $FRC, $GOOG)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($DIS, $BORR, $STING)</li><li><a href="https://www.ewingmorris.com/wp-content/uploads/2019/07/Q2-2019-Letter-vFINAL.pdf" target="_blank">Ewing Morris</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2019/iso_lc_20190630.pdf" target="_blank">Fiduciary Management FMI Large Cap</a></li><li><a href="http://ift.tt/2lCHEK9" target="_blank">Firebird Management</a> - ($BV, $KSS)</li><li><a href="http://bit.ly/2IVHtCO" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q2-2019.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-06_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($ALGT, $XEC, $MKSI)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5d44bf055832920001fa4381/1564786438422/Greenhaven+Road+Letter+%282019+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($KKR, $APPS, $PAR, $SHSP, $ETSY, $NTDOY)</li><li><a href="https://www.docdroid.net/nGef9ZE/greenlightq2letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.08.19-Q2-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q2.pdf" target="_blank">Hayden Capital</a> - ($CMPR, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($RDN, $VST, $CALX)</li><li><a href="https://www.dropbox.com/s/5nuv7dwl1ciblrv/Lightsail%202Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5d46e8a04cbc950001226b6c/1564928160433/2Q19+letter.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $DAIO, $SIFY, $INS, $CTEK, $TBTC)</li><li><a href="https://southeasternasset.com/commentary/2q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CMCSA, $GE, $AMG, $CTL, $HCMLY\$HCMLF, $CHKGF, $CNHI, $FDX, $MAT, $CNX) - ($CBLLF, $DE)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5d3b26b6b5cb710001c505e5/1564157623654/Maran+Partners+Fund+LP+2019+Q2+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $WLK, $BXC, $SVIN, $BH)</li><li><a href="https://marvistainvestments.com/wp-content/uploads/2019/07/MVIP-2Q19-Letter-FINAL.pdf" target="_blank">Mar Vista Investment Partners</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5d2dd3b02daa030001a79d58/1563284400621/Massif+Capital+Second+Quarter+Letter+to+Investors.pdf" target="_blank">Massif Capital</a> - ($CBLLF, $DE)</li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_109a2c968fa84fa2afd22765e9af9374.pdf" target="_blank">Merion Road Capital</a> - ($IAA, $KAR, $MHH)</li><li><a href="https://www.brookvine.com.au/wp-content/uploads/2019Q2_Mittleman-Global-Value-Equity-Fund_Qtrly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/13kJJaxTuFCpNSOGStboGQFTDcl6ywMQq/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q2-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ROP, $DLR, $PFE) </li><li><a href="https://docs.wixstatic.com/ugd/ef2f99_704bd79f605041f3920f5f06d726faf1.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.A\$CRD.B, $CWGL, $NGS, $WMK, $UG, PTVCA\PTVCB, $AE, $DOX, $SCHL, $GENC)</li><li><a href="https://pershingsquareholdings.com/wp-content/uploads/2019/08/2019-Semiannual-Financials-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q2-2019-investment-commentary/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://gallery.mailchimp.com/bca5bc00638aa58b6cada7fab/files/3f913a70-cf19-4e27-8a1c-42a613be3200/Rhizome_Partners_Q2_2019_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($ADBE, $AMZN, $FIVE, $ISRG, $GOOG\$GOOGL, $FB, $AAPL, $BX, $EXAS, $MSFT, $DIS, $PANW, $TDC, $ADSK, $COG)</li><li><a href="https://themarketplunger.com/2019/08/10/2q-2019-letter/" target="_blank">Rockvue Capital</a> - ($EAF, $TH, $UAA)</li><li><a href="https://www.rvcapital.ch/wp-content/uploads/2019/08/Co-Investor_Letter_H1_2019-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/a676b819-a092-4246-8284-74178e0a6fa9/SIF_2019_07_19_Investor_Letter.04.pdf" target="_blank">Saber Capital Management</a> - ($FB, $WFC)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_cee76b8ab55c40bcbc31421f7759ca6f.pdf" target="_blank">Saga Partners</a> - ($TTD, $LIMAF, $FB, $TRUP, $UA)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_58cdbf3f06da4d9b9bfc3dfba3366371.pdf" target="_blank">Spree Capital</a> - ($CVET, $BB, $QCOM)</li><li><a href="https://assets.empirefinancialresearch.com/uploads/2019/07/EFD-7-1-Stanphyl-Capital-Letter-June-2019.pdf" target="_blank">Stanphyl Capital Management</a> - ($TSLA, $AVNW, $WSTL)</li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $BSTC, $ELMD)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5d1b720139ab94000119388b/1562079747536/Tollymore+letter+June+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($BID)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5d2cb4770f60db0001b4a56c/1563210872722/Upslope+-+2019Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FLIR, $HGV, $COKE, $PACK)</li><li><a href="http://www.vltavafund.com/data/dopisy/dopis_56_en.pdf" target="_blank">Vltava Fund</a> - ($AN)</li><li><a href="https://docs.wixstatic.com/ugd/5bfe4b_d88728c47e5442b9aa1f1d731c89ef5b.pdf" target="_blank">Wedgewood Partners</a> - ($ALC, $BRK.B, $SCHW, $CTSH, $EA, $MSI, $ODFL)</li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1570807813238" target="_blank">Weitz Value Fund</a></li></ul></div><br /><span style="font-size: large;">1st Quarter 2019</span><br /><br /><div><ul><li><a href="https://gallery.mailchimp.com/b5aa12c5c889b46c0f8288f6d/files/a791ca4e-e5b2-4a25-b606-0d1d6c95f384/Alluvial_Capital_Management_Q1_2019_Letter_to_Partners_04.22.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $APTL, $IEHC, $HICKA)</li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7b8f29e3a8d0001860027/1556592883034/Q1+2019+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL - $PAYS, $JYNT, $RMBL, $STKS). <a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7baa5eb39310fecbc7bdf/1556593318315/Alta+Fox+STKS+Long+4.28.19.pdf" target="_blank">Full Pitch</a> on $STKS)</li><li><a href="https://www.dropbox.com/s/rax170rmix70bir/Andvari-2019q1-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($UPLD, $TLRA, $WDAY, $V, $MA, $TYL, $MKL)</li><li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/05/2019-APPLX-semi-annual-letter.pdf" target="_blank">Appleseed Fund</a> - ($SKM, $ERJ)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($AXE, $KMX, $ZBRA)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/680d1b4b-376f-4a4a-9324-af9ff3abe4dd/Arquitos_Investor_Letter_Q1_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2019-partner-letter-wy9TLMel" target="_blank">Artko Capital</a> - ($REPH, $NRCGW, $GAIA, $EEI, $LEAF)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%203.31.19.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $SSNC, $IRDM, $ANSS, $NEOG)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $H, $IRDM, $GWRE, $TSLA, $BNFT, $CHH)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%203.31.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($TTD, $TDG, $FND, $GWRE, $HUD, $OEC, $PRTY, $BJRI, $CCC, $OSW, $CCX.U)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAM, $SSTK,$VRNT, $MIK, $QUOT, $MG, $BV)</li><li><a href="https://bluehawkinvestors.com/q1-2019-investor-letter/" target="_blank">Bluehawk Investors</a> - ($MTCH, $FND)</li><li><a href="https://www.biremecapital.com/blog/fundamental-value-1q19-quarterly-letter" target="_blank">Bireme Capital</a> - ($AAPL, $BKNG)</li><li><a href="https://browncapital.com/system/files/scf1q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/mcf1q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li><li><a href="https://browncapital.com/system/files/ief1q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf1q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2019/05/2019-Q1-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $USX)</li><li><a href="https://drive.google.com/file/d/1YUpNRWvSGBBLMymAbEXUoOCqFON2ENEJ/view">Compound Everyday Capital</a></li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ca171d41905f4c611b9202c/1554084308682/2019Q1letter.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SHMZF, $APH, $FRRVY, $FRRVF, $DHR, BAM, $SAPIF)</li><li><a href="https://www.nsx.com.au/ftp/news/021736732.PDF" target="_blank">East 72 Holdings</a> - ($ING, $MKL, $Y)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2019/" target="_blank">Ensemble Fund</a> - ($LSTR, $GOOG, $GOOGL)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($BDRBF, $KRA)</li><li><a href="https://t.co/YPShTxBhfj" target="_blank">Ewing Morris</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-2019-q1.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-03.pdf?sfvrsn=6" target="_blank">FPA Capital Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5cc366e74442bb0001c72482/1556309735923/Greenhaven+Letter+%282019+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $APPS, $KKR, $ETSY, $SHSP, $BOX, $EVI, $FCAU, $CSSE)</li><li><a href="https://www.docdroid.net/H7KPSVZ/greenlight-capital-q1-2019.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.05.23-Q1-Letter-Building-Gamma.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-1Q19-Report.pdf" target="_blank">Harding Loevner Global Small Cap Equities</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-1Q19-Report.pdf" target="_blank">Harding Loevner Global Equities</a> - ($KHC, $NSRGY, $LYFT, $WBC, $VRTX)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($BRY, $ARAY, $NWPX, $CCS, $FSLR)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q1.pdf?utm_source=Hayden+Capital&utm_campaign=fc6ae8918e-EMAIL_CAMPAIGN_2019_05_12&utm_medium=email&utm_term=0_aae4c81ce6-fc6ae8918e-103558831" target="_blank">Hayden Capital</a> - ($SE, $ZLPSF)</li><li><a href="http://www.horancm.com/sites/default/files/users/horancm/Portfolio%20Activity%201Q2019.pdf" target="_blank">Horan Capital Management</a> - ($MTN, $ATVI, $BKNG, $AAPL, $THO, $TCEHY, $GOOG, $FB)</li><li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($K, $PEP, $NFLX, $AMZN, $TPL)</li><li><a href="https://jdpcap.com/wp-content/uploads/2019/05/1Q-2019-Presentation-.pdf" target="_blank">JDP Capital Management</a> - ($XPO, $TK, $SPOT)</li><li><a href="https://www.docdroid.net/3VOAy5K/laughing-water-capital-q1-2019.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/1brj1hqavl9r08n/Lightsail%201Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a> - ($DRTTF)</li><li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5caf96756e9a7f50f6f03ec5/1555011190189/1Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $EVI, $CTEK)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/1Q19-Longleaf-Partners-Commentary.pdf" target="_blank">Longleaf Partners Fund</a> - ($GE, $MAT, $WYNN, $CTL, $HCMLY, $CHKGF)</li><li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5cbdecde53450adb9a30dde5/1555950815790/Maran+Partners+Fund+LP+2019+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li><li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5cb5d9ccf9619acd0cf39f4e/1555421645754/Massif+Capital+First+Qtr+2019+Letter+to+Investors.pdf" target="_blank">Massif Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/f6ee8c_b0cee1afd831423facf7f964eeada115.pdf" target="_blank">Merion Road Capital</a> - ($FCPT, $SLGG)</li><li><a href="https://www.docdroid.net/ostq4If/2019-q1-midwood-q1-2019-investor-letter.pdf" target="_blank">Midwood Capital Partners</a> - ($NXST, $DRTTF, $RCM, $LMB, $REPH)</li><li><a href="https://millervalue.com/bill-miller-1q-2019-market-letter/?dtr" target="_blank">Miller Value Partners</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q1-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($HD)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0319.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://assets.pershingsquareholdings.com/2019/05/17082807/Pershing-Square-Holdings-Ltd.-Q1-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a> - ($ADP, $QSR, $LOW, $SBUX, $HLT, $UTX, $HHC, $FNMA, $FMCC)</li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="http://www.rgaia.com/q12019-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($GRUB)</li><li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/24185410-368c-44bd-a930-4a9d92e88bf9/SIF_2019_04_20_Investor_Letter.pdf" target="_blank">Saber Capital Management</a> - ($AAPL. $FB, $TCEHY)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_28dd8002fdf344a382a093d989c5b0f5.pdf" target="_blank">Saga Partners</a> - ($TRUP)</li><li><a href="https://docs.wixstatic.com/ugd/de07f6_21e9c90b285a4116ae4312cc1bb1bdbd.pdf" target="_blank">Spree Capital</a> - ($ROKU, $FTDR, $EBAY, $ALRM, $ZAYO)</li><li><a href="https://www.docdroid.net/QBav0xn/summers-value-partners-1q19-investor-letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $CVET, $SLGD, $ELAN, $KHTRF)</li><li><a href="https://mailchi.mp/ltfunds/templeton-and-phillips-investment-commentary-1q19-india" target="_blank">Templeton and Phillips Capital Management</a> - ($FFXDF, $HDB)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5cdd1d38e79c70fa76c315b2/1557994809354/Tollymore+letter+May+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRIP, $SE)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAREX-1Q19-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($INTU.L, $NWHM, $JBGS)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TASCX-1Q19-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($AGX)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAVFX-1Q19-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCC, $TDW, $EXP, $MHK)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5cb8894071c10b5b67e05353/1555597643395/Upslope+-+2019Q1+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($ATR, $YETI, $BLD)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global Growth</a></li><li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1557519727747" target="_blank">Weitz Investment</a><span id="goog_1812407177"></span><a href="https://www.blogger.com/"></a><span id="goog_1812407178"></span> - <a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/Analyst%20Corner_CarMax.pdf?1557519727747" target="_blank">An Introduction to CarMax, Inc.</a> - $KMX</li></ul></div><br /><br /><span style="font-size: large;">4th Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5c509321f950b7176a5db508/1548784418298/Q4+2018+Alta+Fox+Capital+Quarterly+Letter+Final.docx.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2019/01/Alluvial_Capital_Management_Q4_2018_Letter_to_Partners_01.24.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $MMAC, $RAMPF, $AMNF)</li><li><a href="https://www.dropbox.com/s/53g8vs2pt3cpv4o/Andvari-2018q4-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MA, $TYL)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/" target="_blank">Ariel Funds</a> - ($ATGE, $AMG, $KN)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/9d0f05b1-9864-4bfe-84ff-d97cd237714e/Arquitos_Investor_Letter_Q4_2018.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li><li><a href="https://www.hvst.com/posts/artko-capital-4q-2018-partner-letter-wnLTNPM6" target="_blank">Artko Capital</a> - ($JYNT, $SMED, $AFCN, $USAT, $PRIXQ, $SPAR)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%2012.31.18_3.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_12_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($HRC, $TRS, $CLH, $SSTK, $CMP, $CTLT, $EPAY, $MEDP, $ELY, $MIK, $MG, $SRCL)</li><li><a href="https://choice-equities.com/wp-content/uploads/2019/02/2018-Q4-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $DEST, $UA, $CMG)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5c2ca3e0aa4a995f08caea24/1546429409931/FY2018.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($BAM, $PTC, $SIRI, $PYPL, $HEI)</li><li><a href="http://east72.com.au/wp-content/uploads/2019/01/E72-Quarterly-Report-Dec-2018.pdf" target="_blank">East 72 Holdings</a> - ($AER, $EXXRF, $VIRT)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2018/" target="_blank">Ensemble Fund</a> - ($SCHW, $ST)</li><li><a href="https://www.evansandpartners.com.au/sites/default/files/InternationalFundQuarterly_December2018.pdf" target="_blank">Evans and Partners International Fund</a> - ($SKFOF, $RELX, $MMM, $GOOG, $V, $ADDYY, $AON)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/fpa-capital-fund-annual-report_03-31-19_web-ready.pdf?sfvrsn=4" target="_blank">FPA Capital Fund - Annual Report</a></li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/crescent-fund-annual-report-web-ready-(12-31-18).pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li><li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2018.pdf" target="_blank">Fundsmith Equity Funds</a> - ($PM, $FB, $SBUX, $MSFT) - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="http://www.goodwoodfunds.com/wp-content/uploads/Goodwood-Annual-Report-2018.pdf" target="_blank">Goodwood Funds</a> - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5c4bc50842bfc120277fb927/1548469513395/Greenhaven+2018+Q4+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $KKR, $YELP, $BOX)</li><li><a href="https://drive.google.com/file/d/1W8cHASX6-hodil8f2KsnZdbWwkERXCjw/view" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.01.15-Q4-2018-Letter-vFinal.pdf" target="_blank">GreenWood Investors</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q4.pdf" target="_blank">Hayden Capital</a> - ($MPNGF, $CVNA, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS, $NWPX, $ARAY)</li><li><a href="https://static1.squarespace.com/static/59a07c7b7131a5b68981e4d5/t/5cc7c1aaf56535000156ba28/1556595115918/Lightsail+2Q+2018+Letter.pdf" target="_blank">Lightsail Capital management</a> - ($DRTTF)</li><li><a href="https://www.valuewalk.com/2019/02/mittleman-brothers-4q18-clear-media/" target="_blank">Mittleman Brothers</a></li><li><a href="https://drive.google.com/file/d/1TmrJPz9OlvLmGBSiADH7ggUOs544pllr/view" target="_blank">MPE Capital</a></li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/01/Nelson-Roberts-2018-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ZTS)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_1218.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/2018-year-end-investment-commentary-easy-come-easy-go/" target="_blank">RGA Investment Advisors</a> - ($ROKU, $CGNX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/Co-Investor_Letter_2018-EN.pdf" target="_blank">RV Capital</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_ae6d4d06c60344d8b7971326501d9b65.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LGIH, $FB)</li><li><a href="https://drive.google.com/file/d/1YKnOvM33MFTIEO_rnU9ZmOBQczTSqLd0/view" target="_blank">Sebids Capital</a></li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAREX-4Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($DLN.L, $WY, $ZION, $PNC Warrants)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TASCX-4Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CUBI, $MYRG, $ATNI)</li><li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAVFX-4Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($DWDP, $DDAIF, $ANFGF)</li><li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5c3cb0b540ec9ab9b9fd10f0/1547481270127/Tollymore+letter+December+2018.pdf" target="_blank">Tollymore Investment Partners</a> - ($UHAL, $GYM.LN, $ITEGY, $TRIP, $TRUP)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5c38b8cb4fa51a28ba9f70a0/1547221197096/Upslope+-+2018Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($EVR, $BLD, $JE.LN, $DLTR, $KWR, $YETI, $MKTX, $TSLA)</li><li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global</a></li><li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/4Q18_Value%20Matters.pdf?1557519727747" target="_blank">Weitz Investment</a></li><li><a href="http://wiedowercapital.com/files/Letter2018.pdf" target="_blank">Wiedower Capital</a> - ($TRUP, $JD, $ISDR)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/33abc1df-abe9-49a8-aef3-cc6058c2948d/WOSF_Partner_Letter_January_22_2019.pdf" target="_blank">Willow Oak Select Fund</a> - ($BEL)</li></ul><br /><br /><div><span style="font-size: large;">3rd Quarter 2018</span></div><br /><div style="font-family: "times new roman"; margin: 0px;"><div style="font-family: "Times New Roman";"><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5bc79a54eef1a1e334de4634/1539807830450/Q3+2018+Alta+Fox+Capital+Quarterly+Letter+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($XPEL, $TPNL, $UWN)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q3-2018-Letter-to-Partners-10.29.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $OTEL, $MMAC, $CTRA, $BXC, $RAMPF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-3q-2018-partner-letter-X34TP2Oe" target="_blank">Artko Capital</a> - ($TWNKW, $RSSS)</li><li><a href="https://www.baronfunds.com/sites/default/files/Quarterly%20Report%209.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $SSTK, $MIK, $PLOW, $GNTX, $OI, $APAM, $QUOT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/11/2018-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($LAWS, $BECN, $BXC, $YELP, $DEST)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5bb318fa15fcc0a9cd511971/1538463995185/2018Q3.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FTV, $FERGY, $CCF, $ROP, $FRC, $AMADY, $CMCSA, $SIRI, $AON)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2018/" target="_blank">Ensemble Fund</a> - ($TRUP, $BKNG)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5be1e3a60e2e72c05e5cdd4b/1541530534947/Greenhaven+Road+-+2018+Q3+Final_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $TRIP, $YELP, $EVI, $BOX)</li><li><a href="https://www.docdroid.net/MfMnIs3/greenlight-capital-q3-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.10.10-Q3-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TRIP, $TI)</li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q3.pdf" target="_blank">Hayden Capital</a> - ($MKL, $JD)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TLRY, $BRY, $SRCI, $AXAS, $CCS)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/3Q18-Longleaf-Partners-Funds-Shareholder-Letter.pdf" target="_blank">Longleaf Partners Fund</a> - ($CTL, $BEL, $OCINF)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0918.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/U.S.%20Small%20Company%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/q32018-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($PYPL, $WBA)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_890d215dee47497ba91e2a46ad7aa95a.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAREX-3Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($BKG.L, $JBGS, $CHKGF)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/11/TASCX-3Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $ASIX, $MYRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAVFX-3Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($TDW, $CHKGF, $BZZFF, $DB)</li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5bc894958165f5a62a1e5c6a/1539871893976/Upslope+-+2018Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($CWH, $TSLA, $MKTX)</li></ul></div></div><div style="font-family: "times new roman"; margin: 0px;"><br /></div><br /><span style="font-size: large;">2nd Quarter 2018</span><br /><br /><ul><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5b57bd2988251bd8777d5ee0/1532476738546/Q2+2018+Alta+Fox+Capital+Quarterly+Letter.docx.pdf" target="_blank">Alta Fox Capital Management</a> - (T$PNL, $XPLT)</li><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q2-2018-Letter-to-Partners-7.20.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $SCOO, $NUVR, $MMAC)</li><li><a href="https://www.dropbox.com/s/ga6p199nuv30j9i/Andvari-2018q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($TTD, $APPN, $TCEHY, $MKTX, $GOOG)</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAKE, $TISI, $TGNA)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-2q-2018-partner-letter-wARTJpDv" target="_blank">Artko Capital</a> - ($EEI, $ROSEW/ROSEU, $WFCF, $FRD)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%206.30.18_0.pdf" target="_blank">Baron Funds</a></li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_6_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $KN, $OI, $APAM, $CNK, $PLOW, $MIK, $CSOD, $EXLS)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/464760b7-cb8c-4974-98ae-c9ff09e5f2c8/0718_BCM_Partner_Letter_Q2_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($KT)</li><li><a href="https://choice-equities.com/wp-content/uploads/2018/08/2018-Q2-CEF-Investor-Letter_WEBSITE-PDF.pdf" target="_blank">Choice Equities Fund</a> - ($CMG, $REED, $BECN)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5b38349e2b6a280422fa91ba/1530410142957/2018Q2.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SAPIF, $TTNDY, $MKSI, $CMCSA, $PNR, $CIGI, $BAX, $SPGI)</li><li><a href="http://east72.com.au/wp-content/uploads/2018/07/E72-Quarterly-Report-June-2018.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $UCPLF, $ELFIF)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2018/" target="_blank">Ensemble Fund</a> - ($LB, $PBH)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q2-letter_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li><li><a href="https://gatorcapital.com/wp-content/uploads/2018/07/20180723-GFP-2018-Q2-Letter.pdf" target="_blank">Gator Capital Management</a> - ($AMP)</li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5b5b790daa4a9904b4e75eb0/1532721421547/Greenhaven+%282018+Q2%29_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $YELP, $CSSE)</li><li><a href="https://www.docdroid.net/xz9WkeV/greenlight-capital-q2-2018-letter.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.07.18-Q2-2018-Letter-v2.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TI)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS)</li><li><a href="https://www.docdroid.net/KyxH0f8/laughing-water-capital-h118.pdf" target="_blank">Laughing Water Capital</a> - ($EZPW, $FCAU, $CDMO, $CWH, $RMNI/$RMNIW)</li><li><a href="https://www.docdroid.net/PctUQHa/maran-partners-fund-lp-2018-2q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $LOV)</li><li><a href="https://drive.google.com/file/d/1n2UY-hQd8QEPzidhsQFL2lyeBngGsdPw/view" target="_blank">MPE Capital</a></li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0618.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Focus-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/Global-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/International-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/US-Small-Company-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/08/Q2-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($EQIX)</li><li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2018/07/Co-Investor_Letter_H1_2018-EN.pdf" target="_blank">RV Capital</a> - (AddLife, PSG Group)</li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_6b3f18269c334631a75ac584d4276af6.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAREX-2Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FPH, $LEN)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TASCX-2Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $SAFM)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAVFX-2Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCTPF, $KKWFF, $BCAUY, $HA</li><li><a href="http://wiedowercapital.com/files/Letter1H18.pdf" target="_blank">Wiedower Capital</a> - ($JD)</li></ul><br /><div><br /><span style="font-size: large;">1st Quarter 2018</span><br /><br /><ul><li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q1-2018-Letter-to-Partners-4.23.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $OTEL, $LICT, $MMAC $BXC)</li><li><a href="https://www.docdroid.net/90TaM6T/arquitos-investor-letter-q1-2018.pdf" target="_blank">Arquitos Capital Management</a> - ($SYTE, $WEDXF)</li><li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-1q-2018-partner-letter-wPZT33Kb" target="_blank">Artko Capital</a> - ($HTM, $GAIA, $HDSN, $SKY)</li><li><a href="https://doc.morningstar.com/Document/a444b3ab802f4a0c076025c4dee1cd5a.msdoc/original?clientid=globaldocuments&key=52dbc583e1012395" target="_blank">Ariel Funds</a> - ($KEYS, $MHK, $OAK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $ELY, $EPAY, $CMP, $MIK, $MG)</li><li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2249ec23-e80d-46a8-9f65-846264852383/0418__BCM_Partner_Letter_Q1_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TI, $TOO)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ada7a78575d1f52aa6e679d/1524267640733/2018Q1.pdf" target="_blank">Comus Investment</a></li><li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SPGI, $CME, $CMCSA, $SPB)</li><li><a href="https://www.docdroid.net/S613L8e/1q-2018-dane-investor-letter.pdf" target="_blank">Dane Capital Management</a> - ($DSKE, $IEA, $LAZY, $LMB, $YTRA, $EVI)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2018/" target="_blank">Ensemble Fund</a> - ($NFLX, $DNOW)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q1-letter_vfinal.pdf#page=2" target="_blank">FPA Capital Fund</a> - ($WDC, $TEN, $ALGT)</li><li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q1-2018-vfinal.pdf#page=2" target="_blank">FPA Crescent Fund</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ae7bf98f950b7272142f5c2/1525137305236/Greenhaven+2018+Q1+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $BXC)</li><li><a href="https://www.docdroid.net/K95Fju3/greenlight-capital-q1-2018.pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.05.11-Q1-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $RYCEY, $VIVHY)</li><li><a href="https://www.docdroid.net/81jd56q/laughing-water-capital-q1-2018.pdf" target="_blank">Laughing Water Capital</a> - ($BXC, $OCN, $TRC, $GHL, $ITI, $GAIA)</li><li><a href="https://longleafpartners.com/sites/default/files/categories/Documents/1Q18-Longleaf-Partners-Quarterly-Summary-Report-All-Funds.pdf" target="_blank">Longleaf Partners</a></li><li><a href="https://www.docdroid.net/eFTaTcE/maran-partners-fund-lp-2018-1q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $IAC, $ATTO)</li><li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0318.pdf" target="_blank">Platinum Asset Management</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li><li><a href="http://www.rgaia.com/wp-content/uploads/2018/05/Q1-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($DIS, $RAMP)</li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q18.pdf" target="_blank">RiverPark Large Growth Fund</a></li><li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rpfvf/commentary/RiverPark_Focused_Value_1Q18_SH_Letter.pdf" target="_blank">RiverPark Focused Value Fund</a></li><li><a href="https://docs.wixstatic.com/ugd/3b0d6d_64caf8ca6a264972923df8b202415b9a.pdf" target="_blank">Saga Partners</a> - ($ESI, $LILAK)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAREX-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($AKR, $SRG)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TASCX-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($FRPH, $WEDXF. $SMHI)</li><li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAVFX-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BDRLF, $KKWFF, $BMWYY)</li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2018/04/VVP-Quarterly-Commentary-18.03.31.pdf" target="_blank">Vulcan Value Partners</a></li></ul></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-21708034528671982942020-08-01T09:10:00.004-04:002020-10-13T21:01:46.115-04:00<h2>
<span style="font-size: x-large;">Fund Management Letters</span></h2>
<span style="font-size: medium;"><br /></span><span style="font-size: medium;">Updating with 2nd quarter letters. Have fun reading.</span><br />
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<span style="font-size: large;">2nd Quarter 2020</span><br />
<span style="font-size: large;"><br /></span><span style="font-size: large;"></span>
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<ul>
<li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5f1646c5f488c44459f92f6f/1595295430480/Q2%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($HBI)</li><li><a href="https://www.adestella.com/wp-content/uploads/2020/08/Q2-2020-Investor-Letter.pdf" target="_blank">Adestella Investment Management</a> - (WSE:LVC)</li><li><a href="https://www.akrefund.com/wp-content/uploads/2020/07/Akre-Focus-Fund-Quarterly-Commentary-2020-Q2.pdf" target="_blank">Akre Focus Fund</a></li><li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a> - ($QDEL, $DKNG, $MKTX, $INGN, $XPO, $HLIO).</li><li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus</a></li><li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a></li><li><a href="https://alluvialcapital.com/wp-content/uploads/2020/07/Alluvial-Capital-Management-Q2-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $LICT, $NUVR, $RWWI, $CRAWA, $PII, $MMAC, $BUKS, $MHGU)</li><li><a href="https://p.weebly.com/14123551/8d9576d761/ACML_2020_Q2.pdf" target="_blank">Alphyn Capital Management</a></li><li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5f21cdd21a3a007c9039d884/1596050899234/Q2+2020+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($CLCT, $NLAB)</li><li><a href="https://drive.google.com/file/d/1tOgr8EbBQL-DFcyuEIteClKQnktt-ioR/view" target="_blank">Andaz Private Investments</a></li><li><a href="https://www.appleseedfund.com/wp-content/uploads/2020/05/Q1-2020-applx-semi-annual-letter-updated-v2.pdf" target="_blank">Appleseed Fund</a> - ($TPIC).</li><li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($JLL, $MSGE, $SWK).</li><li><a href="https://arisaig.com/wp-content/uploads/2020/06/Arisaig-Quarterly-July-2020.pdf" target="_blank">Arisaig Partners</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTIX-APDIX-APHIX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan International Value Fund</a></li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTMX-APDMX-APHMX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($PTON, $CHGG, $IEX, $LSCC, $BURL, $ASND).</li><li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/2q/ARTSX-APDSX-APHSX-QCommentary-2Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li><li><a href="https://www.hvst.com/posts/artko-capital-lp-2q-2020-partner-letter-XzMTMQrb" target="_blank">Artko Capital</a></li><li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/08/2020-08-10-Askeladden-Capital-Q2-2020-Letter-Unkind.pdf" target="_blank">Askeladden Capital</a></li><li><a href="https://mcusercontent.com/1299c2986ac5b8b808d25e3db/files/3a2f5125-2747-4c36-90e0-cb882c13bfc0/Avory_Quarterly_Letter_2020_Q3.pdf" target="_blank">Avory&Company</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-6.30.20.pdf" target="_blank">Baron Asset Fund</a> - ($ZI)</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-6.30.20.pdf" target="_blank">Baron Discovery Fund</a> - ($AAT, $CAKE, $FOUR, $AEIS, $CYRX, $NARI).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Focused Growth</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-6.30.20.pdf" target="_blank">Baron Growth Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-6.30.20.pdf" target="_blank">Baron Health Care Fund</a> - ($SWAV, $IMMU, $CYRX).</li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Opportunity-Fund-Letter-6.30.20.pdf" target="_blank">Baron Opportunity Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-6.30.30.pdf" target="_blank">Baron Partners Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-6.30.20_0.pdf" target="_blank">Baron Real Estate Fund</a></li><li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-6.30.20.pdf" target="_blank">Baron Small Cap Fund</a> - ($CCH, $AXNX, $KTOS, $AZEK)</li><li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_6_30_bca_scv_marketcomm_final.pdf?utm_source=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2020+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CRNC, $CTLT, $EPAY, $PLOW, $SP, $BV, $SPSC, $TWNK)</li><li><a href="https://bluehawkinvestors.com/q2-2020-investor-letter/" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $EA, $SPLK, $STZ).</li><li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5f1561892a4010553ea9a4fc/1595236745929/2020+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li><li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/c68a1a6b-f4ef-4fa0-a118-538e1f21755d/081020_Bonhoeffer_Partner_Letter_Q2_2020.pdf" target="_blank">Bonhoeffer Fund</a> - ($AM)</li><li><a href="https://static1.squarespace.com/static/5e4c4dc89e166529a9918439/t/5f0e14ec768fd51a428a531a/1594758381666/Bonsai+Partners+Q2+2020+Investor+Letter.pdf" target="_blank">Bonsai Partners</a> - ($LKQ, $GNSS, $TSM, $PHPYF)</li><li><a href="https://www.boyarvaluegroup.com/wp-content/uploads/2020/07/2Q_2020_BVGLETTER.pdf" target="_blank">Boyar Group</a></li><li><a href="http://files.brontecapital.com/amalthea/Amalthea_Letter_202006.pdf" target="_blank">Bronte Capital</a></li><li><a href="https://browncapital.com/system/files/mcf2q20commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li><li><a href="https://browncapital.com/system/files/scf2q20commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li><li><a href="https://browncapital.com/system/files/ief2q20commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li><li><a href="https://browncapital.com/system/files/iscf2q20commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li><li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li><li><a href="https://static1.squarespace.com/static/5ea6570a0ba57d406203e048/t/5f179f71130d4a67c0b7cc14/1595383665773/Q2+2020+Results+for+Cedar+Creek+Partners.pdf" target="_blank">Cedar Creek Partners</a></li><li><a href="https://choice-equities.com/wp-content/uploads/2020/07/2020-Q2-CEF-Investor-Letter-2.pdf" target="_blank">Choice Equities Fund</a> - ($CELH, $APPS, $PINS, $CTRN, $TAST).</li><li><a href="http://choufunds.com/pdf/SEMI-AR%202020%20%28English%29.pdf" target="_blank">Chou Funds</a></li><li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2020+Q2+Letter.pdf" target="_blank">Coho Capital</a> - ($SPOT)</li><li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5efce03ba58d546e2e0f9e2b/1593630780199/Q22020.pdf" target="_blank">Comus Investments</a></li><li><a href="https://www.crescat.net/crescat-capital-quarterly-investor-letter-q2-2020/" target="_blank">Crestcat Capital</a></li><li><a href="https://www.docdroid.net/bFfeMjX/david-capital-partners-llc-letter-on-covid-19-2020-q2-pdf" target="_blank">David Capital Partners</a></li><li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a> - ($COF, $BK).</li><li><a href="https://davisfunds.com/downloads/DGFPMComm.pdf" target="_blank">Davis Global Fund</a></li><li><a href="https://davisfunds.com/downloads/DIFPMComm.pdf" target="_blank">Davis International Fund</a></li><li><a href="https://davisfunds.com/downloads/DNYPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li><li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5efb340b8974eb3c8fb597aa/1593521163499/Del+Principe+O%27Brien+June+2020+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li><li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/fee3146b-2929-4ef2-a438-b026f217bccb/2020_Q2_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf" target="_blank">Desert Lion Capital</a></li><li><a href="https://dfdent.com/wp-content/uploads/2020/09/DF-Dent-063020-Annual-Report-FINAL-updated-3.pdf" target="_blank">DF Dent</a></li><li><a href="https://www.diamond-hill.com/wp-content/uploads/200630_Diamond-Hill_Small-Cap-Fund-Commentary-1.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li><li><a href="https://distillatecapital.com/wp-content/uploads/2020/07/Q2-2020-Letter.pdf" target="_blank">Distillate Capital</a></li><li><a href="https://donvillekent.com/wp-content/uploads/2020/08/DKAM-ROE-Reporter-July-2020-.pdf" target="_blank">Donville Kent Asset Management</a></li><li><a href="https://d6c0348e-5a3f-4bb3-a1bf-3864188b9c6e.filesusr.com/ugd/b2ee4c_c1778ec658b04174856e4169cb505c0c.pdf" target="_blank">Emeth Value Capital</a> - ($BSM)</li><li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2020/" target="_blank">Ensemble Fund</a> - ($MASI, $NFLX)</li><li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2020.pdf" target="_blank">Evermore Global Value Fund</a></li><li><a href="https://www.feim.com/sites/default/files/FE_GlobalValueTeam_Commentary_0.pdf" target="_blank">First Eagle Global Value</a></li><li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200630.pdf" target="_blank">FMI All Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200630.pdf" target="_blank">FMI International Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200630.pdf" target="_blank">FMI Large Cap Equity</a></li><li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200630.pdf" target="_blank">FMI Small Cap Equity</a></li><li><a href="https://foragerfunds.com/wp-content/uploads/2020/07/Quarterly-Report_June-2020.pdf" target="_blank">Forager Fund</a> - ($CELH)</li><li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5f078ab33b43a56a3eb3feae/1594329782036/GCAM+Q2+2020+letter.pdf" target="_blank">Giverny Capital Asset Management</a></li><li><a href="https://f.hubspotusercontent40.net/hubfs/4043042/Commentaries/2020.Q2%20Commentary/2020.02%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li><li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5f1ce3f5ffc2762dc1e36675/1595728886611/Greenhaven+Road+Letter+%282020+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($GOGO, $LE, $IAC, $APPS, $KKR, $ESTC, $PAR)</li><li><a href="https://www.docdroid.net/8aEd6Ge/greenlight-2q20-letter-pdf" target="_blank">Greenlight Capital</a></li><li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.08.18-Q2-2020-Letter.pdf" target="_blank">GreenWood Investors</a></li><li><a href="https://www.greystonevalue.com/wp-content/uploads/2020/07/Greystone-Capital-Letter-H1-2020.pdf" target="_blank">Greystone Capital Management</a> - ($HIL, $RICK, $APG, $TRRVF, $MIXT</li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/GE-2Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li><li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/IE-2Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-2Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li><li><a href="https://media.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-2Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li><li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q2.pdf" target="_blank">Hayden Capital</a> - ($AMZN, $SE)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($AAP, $RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($CNI, RJF)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($MDC, $PLAB, $NFG)</li><li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-2Q20-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($SAH, $CCRN, $PCH)</li><li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q2NP.pdf" target="_blank">Hoisington Investment Management</a></li><li><a href="https://horizonkinetics.com/wp-content/uploads/Quarterly-Commentary_Q2-2020.pdf" target="_blank">Horizon Kinetics</a></li><li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-2Q20.pdf" target="_blank">Horos Asset Management</a></li><li><a href="https://jdpcap.com/wp-content/uploads/2020/07/2020-Half-Year-JDP-Capital.pdf" target="_blank">JDP Capital</a></li><li><a href="http://investors.l1longshort.com/DownloadFile.axd?file=/Report/ComNews/20200720/02256558.pdf" target="_blank">L1 Capital Long Short Fund</a></li><li><a href="https://l1international.com/wp-content/uploads/2020/07/06-2020-International-Fund-Quarterly-Report.pdf" target="_blank">L1 International Capital Fund</a> <a href="https://www.lrtcapital.com/wp-content/uploads/2020/07/2020-06-June-Performance-Update-Public.pdf" target="_blank">Capital</a></li><li><a href="https://www.docdroid.net/2ExPtjh/lakewood-capital-2020-q2-letter-pdf" target="_blank">Lakewood Capital Management</a> - ($HDS, $NSP, $ATH, $BLDP, $SLP, $SRNE)</li><li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5f19a4d1e0b9f47a7f5974aa/1595516114278/Laughing+Water+Capital+1H%2720.pdf" target="_blank">Laughing Water Capital</a></li><li><a href="https://www.dropbox.com/s/nlml7il3uj1purr/Lightsail%202Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llpf-commentary/" target="_blank">Longleaf Partners Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llgl-commentary/" target="_blank">Longleaf Partners Global Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llin-commentary/" target="_blank">Longleaf Partners International Fund</a></li><li><a href="https://southeasternasset.com/commentary/2q20-llsc-commentary/" target="_blank">Longleaf Partners Small-Cap Fund</a></li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0" target="_blank">Madison Dividend Income Fund</a> - ($MMM)</li><li><a href="http://madison%20mid%20cap%20fund/" target="_blank">Madison Investors Fund</a> - ($MMC)</li><li><a href="http://madison%20investors%20fund%20-%20%28%24mmc%29/" target="_blank">Madison Mid Cap Fund</a> - ($IT, $LH, $MC).</li><li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/SmallCap.pdf?ctgv=554.0" target="_blank">Madison Small Cap Fund</a></li><li><a href="https://www.docdroid.net/FGa8ior/maran-partners-fund-lp-2020-q2-letter1582-pdf" target="_blank">Maran Capital Management</a> - ($IAC)</li><li><a href="https://f.hubspotusercontent40.net/hubfs/4518141/Massif%20Capital%202nd%20Quarter%20Letter%20to%20Investors.pdf?utm_medium=email&_hsmi=91107066&_hsenc=p2ANqtz-9LijGwDjSgj8jyqCenBnIBF47dmzsWi3IMjSFYI4FdU7JJBgy3y9ZYV2Hb0dIgRDoabuG10U1l5XThj0OJNeKKIwi9SQ&utm_content=91107066&utm_source=hs_email" target="_blank">Massif Capital</a> - ($HES, $RUN, $GOLD).</li><li><a href="https://www.mawer.com/assets/Newsletters/2Q20-Quarterly-Series-A-Net.pdf" target="_blank">Mawer Mutual Funds</a></li><li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_aa805187f361412fa7b16ed0918e00e2.pdf" target="_blank">Merion Road Capital</a> - ($TRNS)</li><li><a href="https://millervalue.com/deep-value-strategy-2q20-letter/">Miller Value Fund</a> - ($BBBY, $NBR, $TMHC, $DXC).</li><li><a href="https://brookvine.com.au/wp-content/uploads/2020Q2_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Global Value Equity Fund</a> - ($CRMLF, $CAR, $CCL, $REV, $CPXGF, $AZTEF)</li><li><a href="https://drive.google.com/file/d/1EY3GUJZn0WVXSuQy17mk1W5FYdOqL2Ry/view" target="_blank">MPE Capital</a> - ($WIX, $BRBOF).</li><li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/07/2020Q2.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($DOCU).</li><li><a href="https://drive.google.com/file/d/1vccfEmwX4ulExfEIrOE1IOB6uKeMU6QW/view" target="_blank">Nomadic Value Investment Partners</a></li><li><a href="https://www.nzscapital.com/s/NZS-Capital-Q2-2020-Letter.pdf" target="_blank">NZS Capital</a></li><li><a href="https://oakmark.com/news-insights/oakmark-fund-second-quarter-2020/" target="_blank">Oakmark Fund</a> - ($RGA, $GD, $TMUS)</li><li><a href="https://oakmark.com/news-insights/oakmark-select-fund-second-quarter-2020/" target="_blank">Oakmark Select Fund</a></li><li><a href="https://oakmark.com/news-insights/oakmark-global-fund-second-quarter-2020/" target="_blank">Oakmark Global Fund</a></li><li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_a30dcf83719d44bba64d3b6e9f3f4345.pdf" target="_blank">Old West Investment Management</a> - ($FLGT).</li><li><a href="https://www.docdroid.net/bg0gNdv/pabrai-funds-q2-2020-pdf#page=7" target="_blank">Pabrai Funds</a></li><li><a href="https://www.palmvalleycapital.com/fundletter" target="_blank">Palm Valley Capital Fund</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li><li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-2Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growt</a>h</li><li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5f3b4cb88ea6a1347c012598/1597721787995/RF+Capital+Q2+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li><li><a href="https://www.rgaia.com/q22020-investment-commentary-the-tale-of-two-markets/" target="_blank">RGA Investment Advisors</a></li><li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/67acd636-2e8e-4ba4-b038-d2c2d5805461/Rhizome_Partners_Q2_2020_Investor_Letter_Final.pdf" target="_blank">Rhizome Partners</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q20.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($SNAP, $SHOP, $BILL, $AMZN, $TWLO, $CME, $IQV, $ZTS, $APO, $KKR, $MTN).</li><li><a href="http://riverpark%20large%20growth%20fund%20-%20%28%24snap%2C%20%24pins%2C%20%24uber%2C%20%24shop%2C%20%24bill%2C%20%24dxcm%2C%20%24rng%2C%20%24lmt%29.%20riverpark%20long/Short%20Opportunity%20Fund" target="_blank">RiverPark Long/Short Opportunity Fund</a></li><li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_2Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($BKNG, $BMT, $FB, $FLT)</li><li><a href="http://rltcapital.com/wp-content/uploads/2020/08/Near-Term-Delusions-Long-Term-Collisions.pdf" target="_blank">RLT Capital</a></li><li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan_Street_Capital_First_Half_2020_Letter.pdf" target="_blank">Rowan Street Capital</a> - ($SPOT)</li><li><a href="https://www.rvcapital.ch/post/co-investor-letter-h1-2020?cid=4b107fa8-b34a-4f06-838c-76d511f3a6b6&utm_campaign=cadf75be-7334-4451-a092-5873c7ac02ac&utm_medium=mail&utm_source=so" target="_blank">RV Capital</a></li><li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c6eb517f46b24b9d8e9aad440f79ee19.pdf" target="_blank">Saga Partners</a></li><li><a href="https://www.saltlight.co.za/wp-content/uploads/2020/08/SaltLIght-2Q20-Letter-Final.pdf" target="_blank">SaltLight Capital</a> - ($COH.JO, CTK.JO)</li><li><a href="http://saturna%20capital%20saturna%20capital%20-%20amanafunds%20saturna%20capital%20-%20sextant%20funds/" target="_blank">Saturna Capital - AmanaFunds</a></li><li><a href="https://mcusercontent.com/57cdfc490b101d54b70128c06/files/b301205c-52a7-4f24-883c-1f3580537837/SilverRingValuePartners_2020Q2_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li><li><a href="https://smeadcap.com/wp-content/uploads/2020/06/Shareholder-Letter-Smead-Value-Fund.pdf" target="_blank">Smead Value Fund</a></li><li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_7c247397881f467d9360d21885e78fb4.pdf" target="_blank">Spree Capital</a> - ($STNE, $WIX).</li><li><a href="https://srk-capital.com/content_files/2020/09/SRK-Fund-Q2-2020.pdf" target="_blank">SRK Capital</a></li><li><a href="https://stjic.com/wp-content/uploads/2020/07/STJIC-Adviser-Letter-2020-Q2-Final.pdf" target="_blank">St. James Investment Company</a></li><li><a href="https://www.summersvalue.com/wp-content/uploads/2Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a> - ($EMIS, $BSTC)</li><li><a href="https://taovalue.files.wordpress.com/2020/07/taovalue_2020_q2_final.pdf" target="_blank">Tao Value</a> - ($PDD, $YY, $AVLR, $CIH)</li><li><a href="https://langfrist.de/dokumente/H1_2020_E_Partners_Fund.pdf" target="_blank">TGV Partners Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAREX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TASCX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($WASH, $CKH)</li><li><a href="https://thirdave.com/wp-content/uploads/2020/07/2020-Q2-TAVFX-Shareholder-Letter-Web.pdf" target="_blank">Third Avenue Value Fund</a> - ($BKRIF, $IFSPF, $LUNMF, $CSFFF).</li><li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/08/Third-Point-Q2-2020-Investor-Letter-TPOI.pdf" target="_blank">Third Point</a> - ($BABA, $JD, $AMZN, $DIS, $PUK, $SPGI)</li><li><a href="https://drive.google.com/file/d/1nfnh_0ZD0IGbaB52zeQHGM4ESJTKJ5fQ/view" target="_blank">Tidefall Capital Management</a></li><li><a href="https://www.dropbox.com/sh/bkvnxsr7u27twgu/AABMPqyMuEORLDm6WSyqF7dla/Tollymore%20Q2%202020.pdf?dl=0" target="_blank">Tollymore Investment Partners</a></li><li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q2.pdf" target="_blank">Turtle Creek Equity Fund</a></li><li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q2%202020%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li><li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5f0dd29b6a8632767c30911b/1594741405126/Upslope+-+2020Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($RBA)</li><li><a href="https://www.vltavafund.com/data/dopisy/dopis_61_en.pdf" target="_blank">Vltava Fund</a></li><li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/07/VVP-Quarterly-Letter-20.06.30.pdf" target="_blank">Vulcan Value Partners</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q2-2020-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li><li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li><li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_a12f91a6fbfb4131afc3d1d848b4ae84.pdf" target="_blank">Wedgewood Partners</a> - ($AAPL, $BKNG, $BMY, $FB, $FLT)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Hickory Fund</a> - ($DLB)</li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners III Opportunity Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Partners Value Fund</a></li><li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637311357350000000" target="_blank">Weitz Value Fund</a></li><li><a href="https://www.whitebrookcapital.com/2q2020-commentary" target="_blank">White Brook Capital</a></li><li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5f0874ba8817e8400a707586/1594389693251/Quarterly+Letter+-+Q2+2020.pdf?utm_medium=email&_hsmi=91143433&_hsenc=p2ANqtz-8Ko2sOTz4bmQKkH-p3YIfULcolG5rwew-9bA1O9V_uN53WPygN_Q0fFs4scHhjzt3id6F-RguAoCQJ0AJnhDfYRrOHHA&utm_content=91143433&utm_source=hs_email" target="_blank">Worm Capital</a></li>
</ul>
<br />
<br />
<span style="font-size: large;">1st Quarter 2020</span><br />
<br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5eb05bb94b525e14b5bea7bc/1588616121738/Q1%2720+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($GMS)</li>
<li><a href="https://www.akrefund.com/wp-content/uploads/2020/04/Akre-Focus-Fund-Quarterly-Commentary-2020-Q1.pdf">Akre Focus Fund</a></li>
<li><a href="https://www.alger.com/AlgerDocuments/MidCapFocus_Fund_Commentary.pdf" target="_blank">Alger Mid Cap Focus Fund</a></li>
<li><a href="https://www.alger.com/AlgerDocuments/SmallCapFocus_Commentary.pdf" target="_blank">Alger Small Cap Focus Fund</a> - ($EVBG, $EHTH, $QDEL, $CMD, $HSKA, $TCMD)</li>
<li><a href="https://www.alger.com/AlgerDocuments/Spectra_Commentary.pdf" target="_blank">Alger Spectra Fund</a> - ($AMZN, $NVDA, $NFLX, $CBOE, $FB, $APPL, $V, $MDB).</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2020/04/Alluvial-Capital-Management-Q1-2020-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a></li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2020-q1.pdf">Alphyn Capital Management</a> - ($EXXRF, $BAM, $KKR, $BRFRF, $WANSF, $CDAY, $CFX, $OSSIF).</li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5eab8f05c455f14a97fbcb32/1588301573873/Q1+2020+Alta+Fox+Capital+Quarterly+Letter-+Final+%281%29.pdf" target="_blank">Alta Fox Capital Management</a> - ($MMMB, $EVVTY, $GMMNF)</li>
<li><a href="https://drive.google.com/file/d/1y1uNGXNScAjx27rcd6yZf_U6GFWLtmVd/view">Andaz Private Investments</a></li>
<li><a href="https://ift.tt/2za22cd">Andvari Associates</a></li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2020/02/APPLX-Q4-2019-Letter.pdf">Appleseed Fund</a> - ($HRTX, $NLY).</li>
<li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/45aea71a-f4d5-4f4b-98c2-44acc7934978/Arquitos_Investor_Letter_Q1_2020.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $SYTE, $WEDXF)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($KMT, $NVST, $PGR).</li>
<li><a href="https://arisaig.com/wp-content/uploads/2020/04/Arisaig-Quarterly-April-2020.pdf" target="_blank">Arisaig Partners</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTKX-APDKX-APHKX-QCommentary-1Q20-vR.pdf">Artisan International Value Fund</a> - ($BABA, $TCOM, $SLB, $TS, $SU, $SNE, $DANOY, $CNHI).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTMX-APDMX-APHMX-QCommentary-1Q20-vR.pdf">Artisan Mid Cap Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTSX-APDSX-APHSX-QCommentary-1Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2020-partner-letter-X7QTZR97" target="_blank">Artko Capital</a></li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/04/Coronavirus-The-Cure-Is-Worse-Than-The-Disease.pdf">Askeladden Capital</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.20.pdf">Baron Asset Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.20.pdf" target="_blank">Baron Discovery Fund</a> - ($INGN, $QLYS, $FND, $SIEN, $PAR, $TXMD, $EVBG, $KTOS, $PENN, $AXNX).</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Focused Growth</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Growth Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.20.pdf" target="_blank">Baron Health Care Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.30_0.pdf" target="_blank">Baron Partners Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Real-Estate-Fund-Letter-3.31.2020.pdf" target="_blank">Baron Real Estate Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.20.pdf" target="_blank">Baron Small Cap Fund</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2020_3_31_bca_scv_marketcomm_final.pdf" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $MEDP, $SP, $CNK, $PLOW, $CRNC, $TREE, $SERV).</li>
<li><a href="https://s3.amazonaws.com/bireme/1Q20%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $BKNG, $WFC, $RICK, $KRG)</li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/04/Investor-Letter-Q1-20-FINAL.pdf">Blue Hawk Investment Group</a> - ($MSFT, $MTCH, $NFLX, $EA, $INTU, $ISRG, $V, $FB, $CHTR, $FND, $STZ, $NYT, $SPLK, $LULU).</li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e93edd2125a911e469ed339/1586752979541/2020+Q1.pdf">Blue Tower Asset Management</a></li>
<li><a href="https://mcusercontent.com/2511717cdf1bae9a0638c942a/files/762bb2f1-3530-4df8-9178-1acf0c0568f6/0520_Bonhoeffer_Partner_Letter_Q1_2020.pdf" target="_blank">Bonhoeffer Fund</a></li>
<li><a href="https://cdn2.hubspot.net/hubfs/4595129/1Q_2020_BVG%20Letter.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=87095134&_hsenc=p2ANqtz-8G6GJm2tQ-xl7UIJ2SOoumqTKP4AhC-pkmfW5viIuwNsaxl8CcHOkHkKE0NZfnwUAC6TZZuSUzpyAM76WVz55zUySpCQ&_hsmi=87095134" target="_blank">Boyar Group</a></li>
<li><a href="https://browncapital.com/system/files/mcf1q20commentary.pdf">Brown Capital Management Mid Company Fund</a> - ($DXCM, $SHOP, $NCLH, $BFAM, $TDOC)</li>
<li><a href="https://browncapital.com/system/files/scf1q20commentary.pdf">Brown Capital Management Small Company Fund</a> - ($QDEL, $VEEV, $MANH, $PRO, $PLAN, $DDOG, $KIDS, $INCY).</li>
<li><a href="https://browncapital.com/system/files/ief1q20commentary.pdf">Brown Capital Management International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf1q20commentary.pdf">Brown Capital Management International Small Company Fund</a></li>
<li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/04/Broyhill-Portfolio-Update-2020.Q1-FINAL.pdf" target="_blank">Broyhill Asset Management</a></li>
<li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf" target="_blank">Carillon Eagle Mid Cap Growth Fund</a></li>
<li><a href="https://cedcapital.in/wp-content/uploads/2020/04/Quarterly-PMS-Letter-Mar20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e85354c10a8a95136c22668/1585788237400/Q12020.pdf">Comus Investments</a></li>
<li><a href="https://www.crescat.net/wp-content/uploads/Q1-2020.pdf" target="_blank">Crestcat Capital</a></li>
<li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/ecf4cd6f-3eb2-4b0c-8efb-1f9d281cfd7f/2020_Q1_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf">Desert Lion Capital</a></li>
<li><a href="https://www.diamond-hill.com/wp-content/uploads/200331_Diamond-Hill_Small-Cap-Fund-Commentary.pdf">Diamond Hill Small Cap Fund</a></li>
<li><a href="https://distillatecapital.com/dcp_1q20_update" target="_blank">Distillate Capital</a></li>
<li>D<a href="https://mcusercontent.com/90031b83688dd5c83d79fcf31/files/a3202ae7-9dca-471c-94ed-340f07250b85/DKAM_ROE_Reporter_April_2020_.pdf" target="_blank">onville Kent Asset Management</a></li>
<li><a href="https://www.docdroid.net/kfBxxVh/elliot-letter-april-162020-perspectives-paul-singer-elliott-pdf#page=9">Elliot Management</a></li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2020/" target="_blank">Ensemble Fund</a></li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2020.pdf">Evermore Global Value Fund</a></li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/04/16115847/Client-Letter-Q1-2020_FINAL.pdf" target="_blank">Ewing Morris</a></li>
<li><a href="https://ift.tt/2VWR7dz" target="_blank">Firebird Management</a></li>
<li><a href="https://www.feim.com/sites/default/files/media/ckeditor/1/lit_forms/FE_Gold-Update.pdf" target="_blank">First Eagle Global Fund</a></li>
<li><a href="https://www.feim.com/sites/default/files/sales/files/FE_GlobalValueTeam_Commentary.pdf" target="_blank">First Eagle Global Value</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200331.pdf">FMI All Cap Equity</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200331.pdf">FMI International Equity</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200331.pdf">FMI Large Cap Equity</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200331.pdf">FMI Small Cap Equity</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2020-03_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($NBL, $VNOM, $ISBC)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/fpa-crescent-fund-update-q1-2020.pdf?sfvrsn=2" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/2020-3-fef-letter-to-shareholders.pdf?sfvrsn=12">Fundsmith Equity Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5e8f1f2a9432801293f6439e/t/5e8f6c4e02b8fa04bead5904/1586457686283/GCAM+initial+letter+2020-03-27.pdf" target="_blank">Giverny Capital Asset Management</a> - ($GOOG, $GOOGL, $KMX, $BRK.B, $PGR, $SCHW, $SSNC, $HEI, $MKL, $ANET)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ea425773459dd34b66cf263/1587815799646/Greenhaven+Road+Letter+%282020+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($SHSP, $APPS, $KKR, $PAR, $KLR, $CSSE, $OPT)</li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.05.10-Confessions-v3.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://cdn2.hubspot.net/hubfs/4043042/Commentaries/2020.Q1%20Commentary/2020.Q1%20Goehring%20&%20Rozencwajg%20Market%20Commentary.pdf" target="_blank">Goehring & Rozencwajg</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-1Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-1Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2020-Q1.pdf" target="_blank">Hayden Capital</a> - ($IBKR, $CVNA)</li>
<li><a href="http://m.heartlandadvisors.com/mid-cap-value-fund-q1-commentary.pdf" target="_blank">Heartland Mid Cap Value Fund</a> - ($WU, $PXD, $AAP)</li>
<li><a href="http://m.heartlandadvisors.com/select-value-fund-q1-commentary.pdf" target="_blank">Heartland Select Value Fund</a> - ($GRC, $CALM, $JNJ)</li>
<li><a href="http://m.heartlandadvisors.com/value-fund-q1-commentary.pdf" target="_blank">Heartland Value Fund</a> - ($MDU, $MDC,$EVTC)</li>
<li><a href="http://m.heartlandadvisors.com/value-plus-fund-q1-commentary.pdf" target="_blank">Heartland Value Plus Fund</a> - ($IDCC, $HTLD)</li>
<li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q1NP.pdf" target="_blank">Hoisington Investment Management</a></li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2020-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($BA, $ADM, $CRL, $ICE, $BTC).</li>
<li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q20.pdf" target="_blank">Horos Asset Management</a> - ($TGP, $TK, $GLNG, $AER, $NPSNY).</li>
<li><a href="https://www.dropbox.com/s/nqwe7xcvwjfxysy/Huffman%20Prairie%20-%201Q2020%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a></li>
<li><a href="https://jdpcap.com/wp-content/uploads/2020/02/2019-Annual-Letter-JDP-Capital-Management.pdf">JDP Capital</a> - ($SPOT, $STNE, $XPO)</li>
<li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5ea5f560592a27104f5c8cf0/1587934561140/Laughing+Water+Capital+Q1%2720.pdf" target="_blank">Laughing Water Capital</a></li>
<li><a href="https://www.dropbox.com/s/ofrydh35bl0xctw/Lightsail%201Q%202020%20Letter.pdf?dl=0" target="_blank">Lightsail Capital</a></li>
<li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/ltglobal-equity-fund/LTGEF_Latest.pdf">Lindsell Train</a>- ($WWE, $DIS, $DEO, $BF.A, $EBAY, $PYPL, $INTU)</li>
<li><a href="https://southeasternasset.com/commentary/1q20-llpf-commentary/">Longleaf Partners Fund</a> - ($H, $DD, $CTL, $CNHI, $PK, $CKHUY, $MAT).</li>
<li><a href="https://southeasternasset.com/commentary/1q20-llgl-commentary/">Longleaf Partners Global Fund</a></li>
<li><a href="https://southeasternasset.com/commentary/1q20-llin-commentary/">Longleaf Partners International Fund</a></li>
<li><a href="https://southeasternasset.com/commentary/1q20-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></li>
<li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/04/2020-03-March-Performance-Update-Public.pdf">LRT Capital</a></li>
<li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></li>
<li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></li>
<li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a> - ($CSL).</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5ea1a3fb6d7e355e7a72a301/1587651580748/Maran+Partners+Fund+LP+2020+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li>
<li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20First%20Quarter%20Letter%20to%20Investors.pdf?utm_source=hs_email&utm_medium=email&utm_content=86138479&_hsenc=p2ANqtz-85M_ZqQO42g6PDwSL7bISxrDZM6OIQj5JzJ9uWzZx5Pf0pU87NtPhlX2MKkKLQ0F5775rJ5yF6-0W92JiA-wFdmFYs5g&_hsmi=86138479">Massif Capital</a></li>
<li><a href="https://www.mawer.com/assets/Newsletters/1Q20-Quarterly-Series-A-Net-1.pdf">Mawer Mutual Funds</a></li>
<li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_b57612e6cdaa48429a600bdfe37560c4.pdf">Merion Road Capital</a> - ($CPRT, $EVBG, $RMCF)</li>
<li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2020_03.pdf">Moneta Long Short A</a></li>
<li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2020_03.pdf">Moneta MultiCaps C</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/04/2020Q1.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($GSK)</li>
<li><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2020/">Oakmark Fund</a> - ($AXP, $MTCH, $PINS, $WDAY)</li>
<li><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2020/">Oakmark Select Fund</a></li>
<li><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2020/">Oakmark Global Fund</a></li>
<li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d588a8b5d90047478bfcd71d0c8dd0a1.pdf">Old West Investment Management</a></li>
<li><a href="https://drive.google.com/file/d/1tD5XOGaM8cls4v95DSXFF131OYYpAMxE/view" target="_blank">Open Square Capital</a></li>
<li><a href="https://www.osam.com/pdfs/research/OSAM%20Update_Blizzard,%20Winter,%20or%20Ice%20Age_FINAL.pdf">O’Shaughnessy Asset Management</a></li>
<li><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a> - ($AAP, $AGI, $BHE, $CRI, $CASS, $DKS, $EZPW, $GENC, $HCSG, $HP, $SLV, $KELYA, $OR, $SCHL, $SKX, $SP, $SYKE, $UNF, $UG, $WMK).</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ABT, $BKNG, $FB, $ORLY, $ADSK, $REGN).</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5ea714f9981de6313a251243/1588008188839/RF+Capital+Q1+2020+Investor+Letter.pdf" target="_blank">RF Capital Management</a></li>
<li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/a591f71a-64ef-4ca1-80dc-2ea2a4646172/Rhizome_Partners_Q1_2020_Investor_Letter_Final.pdf">Rhizome Partners</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2020/04/Q1-2020-Investment-Commentary-FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($NUAN)</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q20.pdf">RiverPark Large Growth Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT).</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_1Q20.pdf">RiverPark Long/Short Opportunity Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT, $COST, $APO, $KKR)</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_1Q20_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($FAST, $KEYS, $MSFT, $ROSS).</li>
<li><a href="http://rowanstreet.com/wp-content/uploads/2020/07/Rowan-Street-Capital-Q1-2020-Letter-1.pdf" target="_blank">Rowan Street Capital</a></li>
<li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_4ad59d00e289448cabcd6a61a130760e.pdf" target="_blank">Saga Partners</a> - ($AYX $CVNA $DBX $FB $LGIH $LIMAF $TTD $TRUP $VSEC $WIX)</li>
<li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q1-2020-web.pdf" target="_blank">Saturna Capital</a></li>
<li><a href="https://www.saturna.com/sites/default/files/Amana-Q1-2020-web.pdf">Saturna Capital - AmanaFunds</a></li>
<li><a href="https://www.saturna.com/sites/default/files/Sextant-Q1-2020-web.pdf">Saturna Capital - Sextant Funds</a></li>
<li><a href="https://moiglobal.com/wp-content/uploads/Semper-Vic-Partners-L.P.-Letter-to-Investors-April-2020.pdf" target="_blank">Semper Vic Partners</a></li>
<li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ee82efca-a8be-4855-b3e0-e3ba3069a318&Name=Q1_2020_-_Investor_Letter">Sequoia Fund</a></li>
<li><a href="https://smeadcap.com/files/7915/8696/1388/1Q_2020_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li>
<li><a href="https://srk-capital.com/content_files/2020/05/SRK-Fund-Q1-2020.pdf" target="_blank">SRK Capital</a></li>
<li><a href="https://stjic.com/wp-content/uploads/2020/04/STJIC-Adviser-Letter-2020-Q1.pdf">St. James Investment Company</a></li>
<li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ff8c300-0ef4-4034-914b-cbd5c86d581d/Steel_City_Capital_1Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a></li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/1Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a></li>
<li><a href="https://taovalue.files.wordpress.com/2020/05/taovalue_2020_q1_final-1.pdf" target="_blank">Tao Value</a> - ($GILD, $CACC, $ADS, $NXRT, $$BILI)</li>
<li><a href="https://static1.squarespace.com/static/54ce2abfe4b0513e12ea592f/t/5e886ec613e1233cd43c8cae/1585999558895/Templeton+and+Phillips+Commentary+-+March+2020.pdf">Templeton and Phillips Capital Management</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a> - ($CALM, $CET, $BATRA, $BATRK).</li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAVFX-Shareholder-Letter-Web.pdf">Third Avenue Value Fund</a> - ($BMWYY, $DB, $IFSPF, $HA, $ORI, $FDX, $VNO)</li>
<li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/04/Third-Point-Q1-2020-Investor-Letter-TPOI-1.pdf" target="_blank">Third Point</a></li>
<li><a href="https://drive.google.com/file/d/1jshHJg_zQ30ZvmrU8iBTIBX9zE6CDtdo/view" target="_blank">Tidefall Capital Management</a></li>
<li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q1.pdf">Turtle Creek Equity Fund</a></li>
<li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202020%20-%20Final.pdf">Tweedy, Browne Funds</a></li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e99e67f7f671d105bf293af/1587144320124/Upslope+-+2020Q1+Letter.pdf" target="_blank">Upslope Capital Management</a></li>
<li><a href="https://www.docdroid.net/q7NxMcX/universa-investments-q1-2020-letter-pdf#page=6">Universa Investments</a></li>
<li><a href="https://mcusercontent.com/2686100c548ffa2b413d5cb29/files/3cb819ec-c2d9-4ff5-870b-cc86b4d93fbd/Vltava_Fund_Letter_to_Shareholders_Q1_2020.pdf">Vltava Fund</a></li>
<li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2020/04/VVP-Quarterly-Letter-20.03.31.pdf">Vulcan Value Partners</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q1-2020-REV-FNL.pdf">Wasatch Core Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-V2-FNL.pdf">Wasatch Ultra Growth Fund</a></li>
<li><a href="https://www.asx.com.au/asxpdf/20200406/pdf/44gqxsc6q8zjdy.pdf">WCM Global Growth</a></li>
<li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f47cdae028142f1ade840f42986ab09.pdf">Wedgewood Partners</a> - ($FAST, $FB, $KEYS, $MSFT, $ROSS, $NVDA, $EA, $BKNG, $EW).</li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Hickory Fund</a></li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners III Opportunity Fund</a></li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Partners Value Fund</a></li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637245466080000000" target="_blank">Weitz Value Fund</a></li>
<li><a href="https://www.whitebrookcapital.com/1q2020-commentary" target="_blank">White Brook Capital</a></li>
<li><a href="https://mcusercontent.com/d194e1b3fd218137abdb074da/files/90c79ff7-93d3-49ac-9da6-1f1ea8209ae0/2020_04_16_White_Crane_Q1_2020_Letter.pdf">White Crane Capital</a></li>
<li><a href="https://d2gr5kl7dt2z3t.cloudfront.net/blog/wp-content/uploads/securepdfs/2020/04/23094734/Wolf-Hill-Q1-2020-Letter.pdf" target="_blank">Wolf Hill Capital</a> - ($HGV, $MIDD)</li>
<li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5ea1a3a3bc77342600cf7649/1587651493472/Worm+Capital+-+Q1+2020+Investor+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li>
</ul>
<span style="font-size: large;"><br /></span><span style="font-size: large;">4th Quarter 2019</span><br />
<br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5e35af9e12c5156ca6085326/1580576670740/Q4%2719+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($ISDR, $RICK, $TSSI, $DPZ)</li>
<li><a href="https://drive.google.com/file/d/1ANcyf36aA9H83xfjYF3N5Z6Rc2YaS75q/view" target="_blank">2Point2 Capital</a></li>
<li><a href="https://gallery.mailchimp.com/f6660ee7c7b25c0643c0e8337/files/53f90575-0084-456e-b563-3e47282ae860/Admiral_Cap_4Q19_Letter.pdf">Admiral Capital Partners Fund</a> - ($CVNA, $GDDY, $GTT).</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2020/01/Alluvial-Capital-Management-Q4-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $CRAWA, $BUKS, $NUVR, $LICT)</li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5e3633d4cd5a0d4354e18334/1580610521595/Q4+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a></li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q4.pdf" target="_blank">Alphyn Capital Management</a></li>
<li><a href="https://drive.google.com/file/d/1OSNsquPrryvmnAYEPpfK8VMGtb5qSILE/view" target="_blank">Andaz Private Investments</a></li>
<li><a href="https://ift.tt/2TwwgOx" target="_blank">Andvari Associates</a></li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($ARDX, $SAVE, $MOS, $SINA, $SNE, $RYAAY).</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Funds</a> - ($CCL, $NLSN).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/APFDX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTMX-APDMX-APHMX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($SWKS, $TW, $CMS, $UA, $ABMD, $ZS, $BURL, $AMD, $ANET, $SERV, $DXCM).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTSX-APDSX-APHSX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTLX-APDLX-APHLX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Value Fund</a></li>
<li><a href="https://www.hvst.com/posts/artko-capital-4q-2019-partner-letter-w57TvkLz" target="_blank">Artko Capital</a> - ($MO, $REPH, $GAIA, $RSSS)</li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/02/2020-02-17-Askeladden-Capital-Q4-2019-Letter-Breaking-Bad.pdf">Askeladden Capital</a></li>
<li><a href="https://content.rwbaird.com/RWB/Content/PDF/AssetManagement/Q3-2019-Mid-Cap-Growth-Mutual-Fund-Commentary.pdf">Baird MidCap Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Asset Fund</a> - ($DXCM, $SAGE).</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Focused Growth</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Growth Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Discovery Fund</a> - ($PGNY, $ESPR, $SIEN, $SITE, $ICHR, $TXMD, $MRCY, $FSCT, $TCMD, $SCPPF, $OLLI, $BRP, $CDNA).</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%2012.31.19_0.pdf" target="_blank">Baron Partners Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Small Cap Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Real%20Estate%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Real Estate Fund</a></li>
<li><a href="http://www.bernzott.com/uploads/1/5/9/5/15953620/2019_12_31_bca_scv_marketcomm.pdf?utm_source=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $PLOW, $LOGM, $MG, $MIK, $CNK, $CTLT, $EPAM, $AGS).</li>
<li><a href="https://s3.amazonaws.com/bireme/4Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a> - ($KRG, $DNKN)</li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/01/Q4-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a></li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e2e81226ba9076709046053/1580106019545/2019+Q4.pdf" target="_blank">Blue Tower Asset Management</a></li>
<li><a href="http://boyarvaluegroup.com/bvg-pdf/4Q_2019_BoyarResearch.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=82628381&_hsenc=p2ANqtz-_eFJS4AvVpyZPJ93cqx7hT_a3Ecgy_iQ8I_KJWvq6pyI5hY8KWOrRF3lJXq2wgq7vsVrrVKm3ExXWqv88qtB2prmxWqg&_hsmi=82628381" target="_blank">Boyar Group</a></li>
<li><a href="https://browncapital.com/system/files/mcf4q19commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li>
<li><a href="https://browncapital.com/system/files/scf4q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($VEEV, $GKOS, $TNDM, $SMAR).</li>
<li><a href="https://browncapital.com/system/files/ief4q19commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf4q19commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li>
<li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/02/The-Broyhill-Letter-2020.02-FINAL.pdf">Broyhill Asset Management</a></li>
<li><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2020/01/bumbershoot-holdings-2020-1-jan-letter-to-partners-2019-1.pdf" target="_blank">Bumbershoot Holdings</a></li>
<li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></li>
<li><a href="https://citronfund.com/wp-content/uploads/2020/01/Citron-Capital-Annual-Investor-Letter-for-2019.pdf" target="_blank">Citron Capital</a> - ($RH, $PTON).</li>
<li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2019+Q4+Letter.pdf">Coho Capital</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e181bff65c626738a349429/1578638336674/FY2019.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($YUMC, $FRRVF, $PTC)</li>
<li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5e3048cf9826d330d5c2854e/1580222671293/Q4+and+YE+2019+Letter.pdf" target="_blank">Curreen Capital</a></li>
<li><a href="https://danwang.co/2019-letter/" target="_blank">Dan Wang</a></li>
<li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a>.</li>
<li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a></li>
<li><a href="https://davisfunds.com/downloads/DIFAnnualReview.pdf" target="_blank">Davis International Fund</a></li>
<li><a href="https://davisfunds.com/downloads/DNYVFPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li>
<li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li>
<li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Midcap-Letter-4Q19.pdf" target="_blank">DF Dent Midcap Growth</a> - ($ODFL, $TWLO, $VEEV, $ANSS, $MCO, $CBRE, $VRSK, $VMC, $MKL).</li>
<li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Small-Cap-Letter-4Q19.pdf" target="_blank">DF Dent Small Cap Growth</a></li>
<li><a href="https://www.diamond-hill.com/wp-content/uploads/191231_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li>
<li><a href="https://gallery.mailchimp.com/90031b83688dd5c83d79fcf31/files/48eecab4-b7af-4d56-8e05-f3d54f33d10f/DKAM_ROE_Reporter_January_2020_.pdf" target="_blank">Donville Kent Asset Management</a></li>
<li><a href="https://www.nsx.com.au/ftp/news/021737727.PDF" target="_blank">East 72 Holdings</a></li>
<li><a href="https://gallery.mailchimp.com/dd77d6a119e511a93e9308144/files/98e445bf-1c22-4a23-8a6b-1d71d798899f/Edgebrook_Mid_Year_Letter_2019.pdf" target="_blank">Edgebrook Partners</a> - ($APEUF)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2019/" target="_blank">Ensemble Fund</a> - ($PAYX, $BR)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2019.pdf">Evermore Global Value Fund</a> - ($IAC, $MTCH, $ANGI, $STNG, $KRA, $ENZ).</li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15183252/Q4-2019-Broadview-Dark-Horse-Quarterly-Letter.pdf" target="_blank">Ewing Morris Dark Horse</a> - ($LQSIF)</li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15170401/Q4-2019-Final-1.pdf" target="_blank">Ewing Morris Opportunities Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-12_final.pdf?sfvrsn=8">FPA Capital Fund</a></li>
<li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2019.pdf?sfvrsn=6" target="_blank">Fundsmith Equity Fund</a></li>
<li><a href="http://gatorcapital.com/wp-content/uploads/2020/01/GFP-Q4-Investor-Letter-Updated.pdf" target="_blank">Gator Capital Management</a></li>
<li><a href="http://www.givernycapital.com/en/doc/236/Giverny_Capital_-_Annual_Letter_2019_web_.pdf">Giverny Capital</a></li>
<li><a href="http://www.goodhavenfunds.com/media/pdfs/2019_AR.pdf" target="_blank">GoodHaven Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5e4703048934db2c06ec56ae/1581712134756/Greenhaven+Road+Letter+%282019+Q4%29.pdf">Greenhaven Road Capital</a></li>
<li><a href="https://www.scribd.com/document/443770600/Greenlight-Q4-2019#download&from_embed" target="_blank">Greenlight Capital</a> - ($AER, $AGO, $ATC, $BHF, $CC, $GM, $GRBK, $NFLX, $DXC).</li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.01.23-Q4-Letter-v5.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-4Q19-Report.pdf">Harding Loevner Global Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2019/IE-4Q19-Report.pdf">Harding Loevner International Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2019/ISC-4Q19-Report.pdf">Harding Loevner International Small Companies Equity</a> - ($GUZOF, $ALICORC1, $PGENY).</li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-4Q19-Report.pdf">Harding Loevner Global Small Companies</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q4.pdf">Hayden Capital</a> - ($SE).</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($LEG, $EXC, $UMBF)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SCHW, $GTS, $CONE).</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TBBK, $AMRC)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($ASB, $PAHC)</li>
<li><a href="http://www.hgcinvest.com/wp-content/uploads/2020/01/HGC-Arb-Letter-December-2019.pdf" target="_blank">HGC Investment Management</a> - ($GSAC, $DEAC).</li>
<li><a href="https://www.hoisingtonmgt.com/pdf/HIM2019Q4NP.pdf">Hoisington Investment Management</a></li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q4-2019-Horizon-Kinetics-Commentary_FINAL.pdf" target="_blank">Horizon Kinetics</a></li>
<li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q19.pdf">Horos Asset Management</a></li>
<li><a href="https://www.dropbox.com/s/wj5xngs5dpjc0la/Huffman%20Prairie%20-%202H2019%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a> - ($PKE)</li>
<li><a href="https://l1international.com/wp-content/uploads/2020/01/L1-Capital-International-Fund-Quarterly-2019-12.pdf" target="_blank">L1 Capital International Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5e3b0e94a8e0ad4a457d4a5e/1580928660765/Laughing+Water+Capital+YE+2019.pdf">Laughing Water Capital</a></li>
<li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/lt-uk-fund/2019/LTUK_MR_2019_12.pdf" target="_blank">Lindsell Train</a></li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5e33310f6cac3d0b6f0a070d/1580413200079/4Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $CTEK, $SFE, $PESI)</li>
<li><a href="https://southeasternasset.com/commentary/4q19-llpf-commentary/">Longleaf Partners Fund</a></li>
<li><a href="https://www.lyricalam.com/wp-content/uploads/2020/01/LAM-2019-Review-letter.pdf" target="_blank">Lyrical Asset Management</a></li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5e323c32f8043d0750f9a1f1/1580350515744/Maran+Partners+Fund+LP+2019+Q4+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RNGR, $SDI).</li>
<li><a href="https://www.mcmadvisors.com/wp-content/uploads/2020/01/Martin-Capital-Management-2019-Annual-Report.pdf" target="_blank">Martin Capital Management</a></li>
<li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Year%20End%20Letter.pdf?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-8wWAtvLCSJ92jhQUdjS_UF5sLUTcGZPdtnlxPMJfKIFGmlgVgnj1U2Yj9GHeBoCbudkm9l" target="_blank">Massif Capital</a></li>
<li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_4b6d6eb57e724504b2acd6925fe444a6.pdf" target="_blank">Merion Road Capital</a> - ($TTWO, $ODP)</li>
<li><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf">Miller Value Fund</a> - ($FTCH, $ET, $CDEV).</li>
<li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2019_12.pdf" target="_blank">Moneta Long Short A</a></li>
<li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2019_12.pdf" target="_blank">Moneta MultiCaps C</a></li>
<li><a href="https://drive.google.com/file/d/1HXfARV-D0Ty0LjixHFdMQc9keEOyV3XN/view" target="_blank">MPE Capital</a> - ($CACC).</li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/01/2019-Nelson-Roberts-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($IBM)</li>
<li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Fourth-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a></li>
<li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_1eee8738221f439bacc164cda1472ccf.pdf">Old West Investment Management</a> - ($GOLD)</li>
<li><a href="https://www.osam.com/pdfs/research/Q4%202019%20Investor%20Letter%20-%20FINAL.pdf" target="_blank">O’Shaughnessy Asset Management</a></li>
<li><a href="https://www.palmharbourcapital.com/files/PHC%20Q4%202019%20Letter.pdf" target="_blank">Palm Harbour Capital</a></li>
<li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_7f7cfd9362f1496597164ec1ee5a1757.pdf" target="_blank">Palm Valley Capital Fund</a></li>
<li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/dab30c88-52e6-425d-94a0-2f672f543d3f/4Q19%20Parnassus%20Core%20Equity%20Fund%20Commentary.pdf">Parnassus Core Equity Fund</a></li>
<li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/fc4897bd-50cb-43fb-9296-bddb814716c6/4Q19%20Parnassus%20Mid%20Cap%20Fund%20Commentary.pdf">Parnassus Mid Cap Fund</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $CRM, $ABT, $NOW, $ORCL).</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Global Growth</a> - ($MSFT, $BABA, $ABT)</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - International Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5e66d8317891847c6cd48c38/1583798321575/RF+Capital+Q4+2019+Investor+Letter.pdf">RF Capital Management</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2020/01/2019-Year-End-Commentary_FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($ANGI, $DBX, $GRUB, $TWTR)</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($AAPL, $UNH, $BX, $MSFT, $ADSK, $SDC, $TWTR, $NOC, $TDC, $TWLO).</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_4Q19.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_4Q19_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li>
<li><a href="http://rltcapital.com/wp-content/uploads/2020/01/Dont-Cha-Know.pdf" target="_blank">RLT Capital</a></li>
<li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Fund.pdf">RMB Fund</a></li>
<li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Small-Cap-Fund.pdf">RMB Small Cap Fund</a></li>
<li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-SMID-Cap-Fund.pdf">RMB SMID Cap Fund</a></li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/aaf68a26-7a10-4c45-bfe1-fb0cb97b85d1/Saber_Investment_Fund_Q4_2019_Letter.pdf" target="_blank">Saber Capital Management</a></li>
<li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c69e35b055894d1aad827cde8423bc2f.pdf">Saga Partners</a> - ($TTD, $LIMAF, $FB, $LGIH, $VSEC, $CVNA)</li>
<li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q4-2019-web.pdf">Saturna Capital</a></li>
<li><a href="https://www.saturna.com/sites/default/files/Amana-Q4-2019-web.pdf">Saturna Capital - AmanaFunds</a></li>
<li><a href="https://www.saturna.com/sites/default/files/Sextant-Q4-2019-web.pdf">Saturna Capital - Sextant Funds</a></li>
<li><a href="https://static.fmgsuite.com/media/documents/c388840b-3dda-41da-a062-077bf785255b.pdf">Semper Augustus</a></li>
<li><a href="https://www.ruanecunniff.com/Download.aspx?ID=7a947f03-c188-49d6-b32f-9cddfe5ebb9a&Name=Q4_2019_-_Investor_Letter" target="_blank">Sequoia Fund</a></li>
<li><a href="https://gallery.mailchimp.com/57cdfc490b101d54b70128c06/files/a813a300-8f68-43cb-8b3d-2fa28aed58fb/SilverRingValuePartners_2019Q4_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li>
<li><a href="https://smeadcap.com/files/9315/7910/2122/4Q_2019_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li>
<li><a href="https://www.socialcapital.com/annual-letters/2019.pdf">Social Capital</a></li>
<li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_d91d278701ba4b21afd564ffabb36d1f.pdf" target="_blank">Spree Capital</a> - ($RST, $MTCH, $FERGY).</li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/2019-Annual-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($TARO, $EGRX, $ELMD)</li>
<li><a href="https://taovalue.files.wordpress.com/2020/02/taovalue_2019_q4_final.pdf">Tao Value</a></li>
<li><a href="https://www.langfrist.de/dokumente/2019_e_Rubicon_full.pdf" target="_blank">TGV Rubicon Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($GPOR.L, $HHC, $PSA, $VNO, $SRG, $FPH).</li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BMWYY, $DB, $MAC).</li>
<li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/01/Third-Point-Q4-2019-Letter-TPOI-Final.pdf" target="_blank">Third Point</a></li>
<li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2019-Q4.pdf" target="_blank">Turtle Creek Equity Fund</a></li>
<li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li>
<li><a href="https://mcusercontent.com/2506bda6ca9a8b7ce8b3c54b4/files/0c17bc16-6a20-4c24-8459-53e800315fe7/TARF_2019_Annual_Commentary_vFinal.pdf" target="_blank">Tyro Capital Management</a> - ($MO, $REPH, $SKY, $SMCI, $MTCH, $UBSFF, $BXC, $MYOV)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e209a872cfe3e653d0bd4bd/1579195017065/Upslope+-+2019Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FOCS, $DLTR)</li>
<li><a href="https://www.dropbox.com/s/lgqbpo4oownzo5m/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q4%202019%20%28V1.1%29.pdf?dl=0&utm_source=The+Vilas+Fund%2C+LP&utm_campaign=d48e03b6f7-4Q2019+Main&utm_medium=email&utm_term=0_d81d32d2af-d48e03b6f7-431110445" target="_blank">Vilas Fund</a></li>
<li><a href="http://www.vltavafund.com/data/dopisy/dopis_58_en.pdf" target="_blank">Vltava Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li>
<li><a href="https://www.asx.com.au/asxpdf/20200108/pdf/44d49tnm31r1hz.pdf" target="_blank">WCM Global Growth</a></li>
<li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_b41d00a2669749f4babb2c468e820ecd.pdf" target="_blank">Wedgewood Partners</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Hickory Fund</a></li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners III Opportunity Fund</a> - ($SIRI, $LSXMB, $EVREF).</li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners Value Fund</a></li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Value Fund</a></li>
<li><a href="https://whitebrookcapital.app.box.com/s/ds32xz73grnzqbxdargxzancsg91q7it" target="_blank">White Brook Capital</a></li>
<li><a href="https://gallery.mailchimp.com/d194e1b3fd218137abdb074da/files/a8558333-dad0-40c8-8abd-8468fb20e0f9/2020_01_21_WCMSF_Q4_2019_Letter.pdf" target="_blank">White Crane Capital</a></li>
<li><a href="https://www.docdroid.net/tJT1NRd/wolf-hill-2019-year-end-letter.pdf" target="_blank">Wolf Hill Capital</a> - ($CNR, $REGI, $WTSHF)</li>
<li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5e1d007471426f2f29068da4/1578958966239/Worm+Capital+2019+Year+End+Letter.pdf" target="_blank">Worm Capital</a></li>
</ul>
<br />
<br />
<span style="font-size: large;">3rd Quarter 2019</span><br />
<br />
<div>
<br />
<ul>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2019/10/Alluvial-Capital-Management-Q3-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $LICT, $NUVR, $APTL, $NORSA, $PIOE, $MHGU, $ITD.IM, $EDAC.IM, $SIO.IM)</li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q3.pdf" target="_blank">Alphyn Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5db8fdd21b54db1101ac3c18/1572404691231/Q3+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($KRMD, $KYYWF, $STKS)</li>
<li><a href="https://www.docdroid.net/I8sosdq/andaz-notes-2019-09-30.pdf" target="_blank">Andaz Private Investments</a> - (CBS.B, $VIAB)</li>
<li><a href="https://ift.tt/35Tb1KD" target="_blank">Andvari Associates</a></li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($SINA, $WB, $MOS, $SAVE, $ARDX, $SNE, $RYAAY)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/eb95b5c5-e141-4f87-b0d5-95d5e1a7a2a5/Arquitos_Investor_Letter_Q3_2019.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $WEDXF)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BX, $BWA, $DIFTY, $ZBH)</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTMX-APDMX-APHMX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($ALXN, $EXAS, $GDI, $GWRE, $CTLT, $BURL, $PAGS, $LHX, $ANET, $ASND)</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTSX-APDSX-APHSX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-3q-2019-partner-letter-EvrTnLGB" target="_blank">Artko Capital</a> - ($FTK, $LEAF, $SKY, $USAT, $EEI, $SPAR)</li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/11/2019-10-28-Askeladden-Capital-Q3-2019-Letter-Earn-It.pdf" target="_blank">Askeladden Capital</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Asset Fund</a> - ($CCC)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Focused Growth</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Growth Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Discovery Fund</a> - ($TXMD, $FND, $TREX, $MRCY, $KNSL $VRAY, $SILK, $BE, $CDNA, $TPIC, $MDLA, $PING, $WMS, $VRNS, $INGN)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Partners Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Investor%20-%20Baron%20Small%20Cap%20Fund%203Q19.pdf" target="_blank">Baron Small Cap Fund</a> - ($CDAY, $CCC, $COLD)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $SP, $PLOW, $OI, $AGS, $QUOT,$ CTLT, $EPAM, $KN, $CLDR, $AGS, $GNRC)</li>
<li><a href="https://s3.amazonaws.com/bireme/3Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $COKE)</li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/10/Q3-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($SFIX, $GRUB, $MTCH, $NFLX)<span id="goog_146329209"></span><a href="https://www.blogger.com/"></a><span id="goog_146329210"></span></li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5dad22ac218aa17443c4035b/1571627692663/2019+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2d3eecc8-c31e-45c7-8c24-e0e1a8269ac3/1019_BCM__Partner_Letter_Q3_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $CAMB.LN)</li>
<li><a href="https://browncapital.com/system/files/scf3q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($TYL, $MANH, $ABMD, $INGN)</li>
<li><a href="https://browncapital.com/system/files/mcf3q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a> - ($EW, $TYL, $ALGN, $ULTA, $MKTX, $CRL, $JBHT)</li>
<li><a href="https://browncapital.com/system/files/ief3q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a> - ($CZMWF, $ESLOY, $QGEN, $IPSEF, $MONOY)</li>
<li><a href="https://browncapital.com/system/files/iscf3q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/10/2019-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> ($RUBI, $BXC, $HOME, $QMCO)</li>
<li><a href="https://drive.google.com/file/d/1jzHBEfehpV9TfzwFhiGl91UMVtnGwWjS/view">Compound Everyday Capital</a></li>
<li><a href="https://gallery.mailchimp.com/a6cd0be2415ea775a57718587/files/14809e7f-2f16-4cb8-8fb3-8c589f63c6ed/50._Q3_2019.pdf" target="_blank">Compound Money Fund</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5db88acf71786e4ef3228683/1572375248129/2019Q3.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($IPGLF, $NVST, $A, $FRC)</li>
<li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5da0d2a16603d478b62581b4/1570820769906/Q3+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($GTX, $KTB, $MFGP, $BLD)</li>
<li><a href="https://davisfunds.com/downloads/DFFInterview.pdf" target="_blank">Davis Financial Fund</a></li>
<li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a> - ($JD, $AMAT)</li>
<li><a href="https://davisfunds.com/document/read/DNYPMComm" target="_blank">Davis New York Venture Fund</a></li>
<li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a></li>
<li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/bf83181f-b69f-4ece-a640-a4007c15ed07/Q3_2019_Investor_Letter_Desert_Lion_Capital.pdf" target="_blank">Desert Lion Capital</a></li>
<li><a href="https://www.diamond-hill.com/wp-content/uploads/190930_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li>
<li><a href="http://east72.com.au/wp-content/uploads/2019/10/E72-Quarterly-Report-Sept-2019.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $DTLA, $FFXDF, $VULC, $PICO)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2019/" target="_blank">Ensemble Fund</a> - ($MA, $TIF)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2019.pdf" target="_blank">Evermore Global Value Fund</a></li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2019/10/07164955/Quarterly-Update-Q3-2019.pdf" target="_blank">Ewing Morris</a></li>
<li><a href="https://www.fmimgt.com/fmi/funds/shrpt/ann_shrpt_093019.pdf" target="_blank">Fiduciary Management FMI Large Cap</a> - ($HDS)</li>
<li><a href="https://t.co/3lQBLZ89rY?amp=1" target="_blank">Firebird Management</a> - ($LNC, $GES)</li>
<li><a href="https://focusedcompounding.com/wp-content/uploads/2017/06/Q3_2019_Letter_to_Clients-1.pdf" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI, $TPHS, $KEWL, $MLP)</li>
<li><a href="https://www.asx.com.au/asxpdf/20191011/pdf/449dftp5k138nd.pdf" target="_blank">Forager Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2019-q3b0f6f4531b0367849d6cff0000f7084a.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-09.pdf?sfvrsn=8" target="_blank">FPA Capital Fund</a> - ($AMBA, $NBL, $DAN, $IDCC)</li>
<li><a href="http://gatorcapital.com/wp-content/uploads/2019/10/GFP-Q3-Investor-Letter.pdf" target="_blank">Gator Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5daa7eaeab96a61181bef76f/1571454639744/Greenhaven+Road+Letter+%282019+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($NTDOY, $CSSE, $KKR, $BXC, $APPS, $PAR, $SHSP, $GIGRT, $GIGWS)</li>
<li><a href="https://www.docdroid.net/hM7Tnw8/qlet2019-032.pdf" target="_blank">Greenlight Capital</a> - ($NFLX, $TSLA, $CC)</li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.11.14-Q3-Letter.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://ift.tt/34FFgn5" target="_blank">Goehring & Rozencwajg</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q3.pdf" target="_blank">Hayden Capital</a> - ($CACC)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a></li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SAFM, $MHK, $CVS)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($VST, $LNDC)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a></li>
<li><a href="https://www.docdroid.net/pCmtahr/hellerhouseopportunityfund-2019q2letter-public.pdf#page=17" target="_blank">Heller House Opportunity Fund</a> - ($SHOP $WORK $ROKU)</li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a></li>
<li><a href="https://www.dropbox.com/s/l24e3ilw0j2kkyq/Lightsail%203Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li>
<li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/investment-insights/2019/Are%20You%20Experienced%20-%20November%202019.pdf" target="_blank">Lindsell Train</a></li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5db9dbd123316d682a695a20/1572461522295/3Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $PSSR, $SIFY, $INS, $CTEK, $TBTC)</li>
<li><a href="https://southeasternasset.com/commentary/3q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CTL, $GOOG, $GOOGL, $CMCSA, $GE, $FDX, $FRFHF)</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5db9f8173907823b364ebba8/1572468760093/Maran+Partners+Fund+LP+2019+Q3+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RCMT)</li>
<li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Third%20Quarter%20Letter%20to%20Investors.pdf" target="_blank">Massif Capital</a> - ($DO, $TOO, $EAF, $DE, $UNP, $CSX, $NCLH)</li>
<li><a href="https://docs.wixstatic.com/ugd/f6ee8c_adb2e39184484fd5a9374a1b8ddad5fe.pdf" target="_blank">Merion Road Capital</a> - ($HXL, $IAA, $TRNS)</li>
<li><a href="https://www.hvst.com/organization/meson-capital-partners-llc/posts/meson-q3-update-man-vs-machine-wPZT3xZx" target="_blank">Meson Capital</a></li>
<li><a href="https://brookvine.com.au/wp-content/uploads/2019Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/10/2019-Q3-Nelson-Roberts-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($SIVB, $SCHW, $AKAM, $PFE, $DLR)</li>
<li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Third-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a> - ($GOOG, $CHTR, $DDAIF, $APA)</li>
<li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_fe35b044b6f9420aa65670c4b7dfbf7f.pdf" target="_blank">Old West Investment Management</a></li>
<li><a href="https://docs.wixstatic.com/ugd/ef2f99_2044e47207184e0a96223be92f96d4b5.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.B, $CRD/B, $GENC)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $IT, $MSCI)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a> - ($ALGN, $ABT, $SGSOY)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a> - ($TREX, $FND, $LMAT, $FOXF, $OLLI, $TREE, $APPF, $ALTR)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="https://files.constantcontact.com/07cbbb80601/d7746d56-0340-44ba-b2d3-fb41d43a159a.pdf" target="_blank">Rangeley Capital</a> - ($CHTR)</li>
<li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5db930e3f152967e525fbd89/1572417764733/RF+Capital+Q3+Letter+2019.pdf" target="_blank">RF Capital Management</a> - ($FL, $GAPFF, $ZAGG, $GME, $GTX)</li>
<li><a href="http://www.rgaia.com/q32019-investment-commentary-kambi/" target="_blank">RGA Investment Advisors</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($GOOG, $BX, $AAPL, $NOC, $EQIX, $EXAS, $ALGN, $AMZN, $SDC, $ULTA, $TWLO)</li>
<li><a href="http://www.rmbcap.com/files/RMB_Core_Equity_-_Investor_Letter_3Q19.pdf" target="_blank">RMB Core Equity Fund</a></li>
<li><a href="https://themarketplunger.com/2019/11/12/q3-2019-letters/" target="_blank">Rockvue Capital</a> - ($UAA, $FOX)</li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/4d8542a4-48be-4664-bc79-6506621e8100/Saber_Investment_Fund_Q3_Letter.pdf" target="_blank">Saber Capital Management</a></li>
<li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_7f9545a28a0a48129a7920980b5b2f27.pdf" target="_blank">Saga Partners</a> - ($VSEC)</li>
<li><a href="https://sevencanyonsadvisors.com/resources/seven-canyons-world-innovators-quarterly-commentary/" target="_blank">Seven Canyons World Innovators</a></li>
<li><a href="https://docs.wixstatic.com/ugd/de07f6_0c03e7d62d824ca98a96fa974471a7fb.pdf" target="_blank">Spree Capital</a> - ($CFX, $CARS)</li>
<li><a href="https://srk-capital.com/content_files/2019/11/SRK-Fund-Q3-2019.pdf" target="_blank">SRK Capital</a></li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/3Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($SLGD, $BSTC, $ELMD)</li>
<li><a href="https://taovalue.files.wordpress.com/2019/10/taovalue_2019_q3_final.pdf" target="_blank">Tao Value</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/11/2019-Q3-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($CLNY, $GWW, $HNGKY)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CTB, $SAFM)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li>
<li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2019/10/Third-Point-Q3-2019-Letter-TPOI-.pdf" target="_blank">Third Point Offshore Fund</a> - ($ESLOY, $SNE)</li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5da981abd30f37336bb612b3/1571389868322/Tollymore+letter+Sep+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($GRUB)</li>
<li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Fund</a> - ($KRNTY, $FOX $FOXA, $TBABF, $BIDU)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5da09b01c80d065ebaf8d703/1570806531156/Upslope+-+2019Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($IT)</li>
<li><a href="https://www.dropbox.com/s/vsrenaad14f2bxa/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q3%202019%20%28Final%29.pdf?dl=0&utm_source=Website+Signup+-+Vilas+Capital+Management%2C+LLC&utm_campaign=8004c87a9b-3Q2019+Ltr_Web&utm_medium=email&utm_term=0_0fbdf27fc5-8004c87a9b-431098533" target="_blank">Vilas Capital</a></li>
<li><a href="http://www.vltavafund.com/data/dopisy/dopis_57_en.pdf" target="_blank">Vltava Fund</a> - ($BRK.A, $BRK.B, $SBRCY, $BMWYY)</li>
<li><a href="https://docs.wixstatic.com/ugd/5bfe4b_03b9a051772a4b9792c849ed7f74150a.pdf" target="_blank">Wedgewood Partners</a> - ($CDW, BRK.B, $NVDA, $ULTA)</li>
<li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/3Q19_Value%20Matters.pdf?1572140971546" target="_blank">Weitz Value Fund</a></li>
<li><a href="https://whitebrookcapital.app.box.com/s/4giogadrnt294d6q8t3a4awtxhrkjmjh" target="_blank">White Brook Capital</a> - ($BOX, $GRPN)</li>
<li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5db752012422566f6f7f86a4/1572295170818/Q3+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li>
</ul>
<div>
<br /></div>
</div>
<span style="font-size: large;">2nd Quarter 2019</span><br />
<br />
<div>
<br />
<ul>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2019/07/Alluvial-Capital-Management-Q2-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $NUVR, $MMAC, $RAMPF, $CLWY, $CMLS, $FTR)</li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q2.pdf" target="_blank">Alphyn Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5d3a2ee5c694120001688a00/1564094184541/Q2+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($PAYS, $KWS, $NTDOY)</li>
<li><a href="https://www.dropbox.com/s/19lcbm48spw3g9c/Andvari-2019q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MLAB, $UPLD, $APPN, $BL, $WDAY, $TYL)</li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/08/APPLX-Q2-2019.pdf" target="_blank">Appleseed Fund</a> - ($CRTO, $SINA)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAZ, $TAP, $MTSC)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/6b4ee586-4e8c-4044-a1be-d9f30c4f9e34/Arquitos_Investor_Letter_Q2_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC)</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTMX-APDMX-APHMX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTSX-APDSX-APHSX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.hvst.com/posts/artko-capital-2q-2019-partner-letter-EvrTnmKZ" target="_blank">Artko Capital</a> - ($CCNI, $JYNT, $WFCW, $FLL, $NRCGW)</li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/07/2019-06-29-Askeladden-Capital-Q2-2019-Letter-Askeladden-Reloaded.pdf" target="_blank">Askeladden Capital</a> - ($FC, $AER, $DLTH, $LGIH, $SFM, LQDT)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $IDXX, $SSNC, $BNFT, $IRDM, $FDS, $ACGL, $RRR, $TWOU, $CVET, $ADPT, $ALEC)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $ACGL, $CHH, TSLA, $BNFT, $MANU)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($IDXX, $JBT, $SITE, $TTD, $BFAM, $GTT, $RRR, $CISN, $PRA, $CVET, $TREX)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_6_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $GNRC, $BV, $CLDR, $SSTK, $MIK, $EPAM, $SNPS, $LOGM, $INOV, $CARB, $MINI)</li>
<li><a href="https://www.biremecapital.com/blog/fundamental-value-2q19-quarterly-letter" target="_blank">Bireme Capital</a></li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/07/Q2-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $GRUB, $TRIP)</li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5d350ce2e13121000110246f/1563757795868/2019+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($CNR)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/8ef5fe82-9246-4fdd-afb3-8bb4681ebb8b/0719_BCM_Partner_Letter_Q2_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $GTN)</li>
<li><a href="https://browncapital.com/system/files/scf2q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li>
<li><a href="https://browncapital.com/system/files/mcf2q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li>
<li><a href="https://browncapital.com/system/files/ief2q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf2q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/07/2019-Q2-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($DEST, $BXC, $PAR)</li>
<li><a href="https://www.docdroid.net/IereKR2/coho-capital-2019-q2-letter.pdf" target="_blank">Coho Capital</a> - ($GDDY)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5d1909fa11a9570001ea18c8/1561922043505/2019Q2.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FISV, $FRRVY, $FRRVF, $TTNDY)</li>
<li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5d2fbf4e8b4dd7000199603e/1563410254409/Q2+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($KTB)</li>
<li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/5fd3b3ea-7001-4c07-8d63-f95d455af921/Q2_2019_Desert_Lion_Capital_Letter.02.pdf" target="_blank">Desert Lion Capital</a></li>
<li><a href="http://east72.com.au/wp-content/uploads/2019/07/E72-Quarterly-Report-June-2019.pdf" target="_blank">East 72 Holdings</a> - ($AFTPF, $ADS)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2019/" target="_blank">Ensemble Fund</a> - ($BR, $SBUX, $FAST, $FRC, $GOOG)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($DIS, $BORR, $STING)</li>
<li><a href="https://www.ewingmorris.com/wp-content/uploads/2019/07/Q2-2019-Letter-vFINAL.pdf" target="_blank">Ewing Morris</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2019/iso_lc_20190630.pdf" target="_blank">Fiduciary Management FMI Large Cap</a></li>
<li><a href="http://ift.tt/2lCHEK9" target="_blank">Firebird Management</a> - ($BV, $KSS)</li>
<li><a href="http://bit.ly/2IVHtCO" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q2-2019.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a> - ($ALGT, $XEC, $MKSI)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-06_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($ALGT, $XEC, $MKSI)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5d44bf055832920001fa4381/1564786438422/Greenhaven+Road+Letter+%282019+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($KKR, $APPS, $PAR, $SHSP, $ETSY, $NTDOY)</li>
<li><a href="https://www.docdroid.net/nGef9ZE/greenlightq2letter.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.08.19-Q2-Letter.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q2.pdf" target="_blank">Hayden Capital</a> - ($CMPR, $JD)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($RDN, $VST, $CALX)</li>
<li><a href="https://www.dropbox.com/s/5nuv7dwl1ciblrv/Lightsail%202Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5d46e8a04cbc950001226b6c/1564928160433/2Q19+letter.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $DAIO, $SIFY, $INS, $CTEK, $TBTC)</li>
<li><a href="https://southeasternasset.com/commentary/2q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CMCSA, $GE, $AMG, $CTL, $HCMLY\$HCMLF, $CHKGF, $CNHI, $FDX, $MAT, $CNX) - ($CBLLF, $DE)</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5d3b26b6b5cb710001c505e5/1564157623654/Maran+Partners+Fund+LP+2019+Q2+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $WLK, $BXC, $SVIN, $BH)</li>
<li><a href="https://marvistainvestments.com/wp-content/uploads/2019/07/MVIP-2Q19-Letter-FINAL.pdf" target="_blank">Mar Vista Investment Partners</a></li>
<li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5d2dd3b02daa030001a79d58/1563284400621/Massif+Capital+Second+Quarter+Letter+to+Investors.pdf" target="_blank">Massif Capital</a> - ($CBLLF, $DE)</li>
<li><a href="https://docs.wixstatic.com/ugd/f6ee8c_109a2c968fa84fa2afd22765e9af9374.pdf" target="_blank">Merion Road Capital</a> - ($IAA, $KAR, $MHH)</li>
<li><a href="https://www.brookvine.com.au/wp-content/uploads/2019Q2_Mittleman-Global-Value-Equity-Fund_Qtrly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li>
<li><a href="https://drive.google.com/file/d/13kJJaxTuFCpNSOGStboGQFTDcl6ywMQq/view" target="_blank">MPE Capital</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q2-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ROP, $DLR, $PFE) </li>
<li><a href="https://docs.wixstatic.com/ugd/ef2f99_704bd79f605041f3920f5f06d726faf1.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.A\$CRD.B, $CWGL, $NGS, $WMK, $UG, PTVCA\PTVCB, $AE, $DOX, $SCHL, $GENC)</li>
<li><a href="https://pershingsquareholdings.com/wp-content/uploads/2019/08/2019-Semiannual-Financials-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/q2-2019-investment-commentary/" target="_blank">RGA Investment Advisors</a></li>
<li><a href="https://gallery.mailchimp.com/bca5bc00638aa58b6cada7fab/files/3f913a70-cf19-4e27-8a1c-42a613be3200/Rhizome_Partners_Q2_2019_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($ADBE, $AMZN, $FIVE, $ISRG, $GOOG\$GOOGL, $FB, $AAPL, $BX, $EXAS, $MSFT, $DIS, $PANW, $TDC, $ADSK, $COG)</li>
<li><a href="https://themarketplunger.com/2019/08/10/2q-2019-letter/" target="_blank">Rockvue Capital</a> - ($EAF, $TH, $UAA)</li>
<li><a href="https://www.rvcapital.ch/wp-content/uploads/2019/08/Co-Investor_Letter_H1_2019-EN.pdf" target="_blank">RV Capital</a></li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/a676b819-a092-4246-8284-74178e0a6fa9/SIF_2019_07_19_Investor_Letter.04.pdf" target="_blank">Saber Capital Management</a> - ($FB, $WFC)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_cee76b8ab55c40bcbc31421f7759ca6f.pdf" target="_blank">Saga Partners</a> - ($TTD, $LIMAF, $FB, $TRUP, $UA)</li>
<li><a href="https://docs.wixstatic.com/ugd/de07f6_58cdbf3f06da4d9b9bfc3dfba3366371.pdf" target="_blank">Spree Capital</a> - ($CVET, $BB, $QCOM)</li>
<li><a href="https://assets.empirefinancialresearch.com/uploads/2019/07/EFD-7-1-Stanphyl-Capital-Letter-June-2019.pdf" target="_blank">Stanphyl Capital Management</a> - ($TSLA, $AVNW, $WSTL)</li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/2Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $BSTC, $ELMD)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5d1b720139ab94000119388b/1562079747536/Tollymore+letter+June+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($BID)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5d2cb4770f60db0001b4a56c/1563210872722/Upslope+-+2019Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FLIR, $HGV, $COKE, $PACK)</li>
<li><a href="http://www.vltavafund.com/data/dopisy/dopis_56_en.pdf" target="_blank">Vltava Fund</a> - ($AN)</li>
<li><a href="https://docs.wixstatic.com/ugd/5bfe4b_d88728c47e5442b9aa1f1d731c89ef5b.pdf" target="_blank">Wedgewood Partners</a> - ($ALC, $BRK.B, $SCHW, $CTSH, $EA, $MSI, $ODFL)</li>
<li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1570807813238" target="_blank">Weitz Value Fund</a></li>
</ul>
</div>
<br />
<span style="font-size: large;">1st Quarter 2019</span><br />
<br />
<div>
<ul>
<li><a href="https://gallery.mailchimp.com/b5aa12c5c889b46c0f8288f6d/files/a791ca4e-e5b2-4a25-b606-0d1d6c95f384/Alluvial_Capital_Management_Q1_2019_Letter_to_Partners_04.22.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $APTL, $IEHC, $HICKA)</li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7b8f29e3a8d0001860027/1556592883034/Q1+2019+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL - $PAYS, $JYNT, $RMBL, $STKS). <a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7baa5eb39310fecbc7bdf/1556593318315/Alta+Fox+STKS+Long+4.28.19.pdf" target="_blank">Full Pitch</a> on $STKS)</li>
<li><a href="https://www.dropbox.com/s/rax170rmix70bir/Andvari-2019q1-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($UPLD, $TLRA, $WDAY, $V, $MA, $TYL, $MKL)</li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/05/2019-APPLX-semi-annual-letter.pdf" target="_blank">Appleseed Fund</a> - ($SKM, $ERJ)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($AXE, $KMX, $ZBRA)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/680d1b4b-376f-4a4a-9324-af9ff3abe4dd/Arquitos_Investor_Letter_Q1_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2019-partner-letter-wy9TLMel" target="_blank">Artko Capital</a> - ($REPH, $NRCGW, $GAIA, $EEI, $LEAF)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%203.31.19.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $SSNC, $IRDM, $ANSS, $NEOG)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $H, $IRDM, $GWRE, $TSLA, $BNFT, $CHH)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%203.31.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($TTD, $TDG, $FND, $GWRE, $HUD, $OEC, $PRTY, $BJRI, $CCC, $OSW, $CCX.U)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAM, $SSTK,$VRNT, $MIK, $QUOT, $MG, $BV)</li>
<li><a href="https://bluehawkinvestors.com/q1-2019-investor-letter/" target="_blank">Bluehawk Investors</a> - ($MTCH, $FND)</li>
<li><a href="https://www.biremecapital.com/blog/fundamental-value-1q19-quarterly-letter" target="_blank">Bireme Capital</a> - ($AAPL, $BKNG)</li>
<li><a href="https://browncapital.com/system/files/scf1q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li>
<li><a href="https://browncapital.com/system/files/mcf1q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li>
<li><a href="https://browncapital.com/system/files/ief1q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf1q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/05/2019-Q1-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $USX)</li>
<li><a href="https://drive.google.com/file/d/1YUpNRWvSGBBLMymAbEXUoOCqFON2ENEJ/view">Compound Everyday Capital</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ca171d41905f4c611b9202c/1554084308682/2019Q1letter.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SHMZF, $APH, $FRRVY, $FRRVF, $DHR, BAM, $SAPIF)</li>
<li><a href="https://www.nsx.com.au/ftp/news/021736732.PDF" target="_blank">East 72 Holdings</a> - ($ING, $MKL, $Y)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2019/" target="_blank">Ensemble Fund</a> - ($LSTR, $GOOG, $GOOGL)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($BDRBF, $KRA)</li>
<li><a href="https://t.co/YPShTxBhfj" target="_blank">Ewing Morris</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-2019-q1.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-03.pdf?sfvrsn=6" target="_blank">FPA Capital Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5cc366e74442bb0001c72482/1556309735923/Greenhaven+Letter+%282019+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $APPS, $KKR, $ETSY, $SHSP, $BOX, $EVI, $FCAU, $CSSE)</li>
<li><a href="https://www.docdroid.net/H7KPSVZ/greenlight-capital-q1-2019.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.05.23-Q1-Letter-Building-Gamma.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-1Q19-Report.pdf" target="_blank">Harding Loevner Global Small Cap Equities</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-1Q19-Report.pdf" target="_blank">Harding Loevner Global Equities</a> - ($KHC, $NSRGY, $LYFT, $WBC, $VRTX)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($BRY, $ARAY, $NWPX, $CCS, $FSLR)</li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q1.pdf?utm_source=Hayden+Capital&utm_campaign=fc6ae8918e-EMAIL_CAMPAIGN_2019_05_12&utm_medium=email&utm_term=0_aae4c81ce6-fc6ae8918e-103558831" target="_blank">Hayden Capital</a> - ($SE, $ZLPSF)</li>
<li><a href="http://www.horancm.com/sites/default/files/users/horancm/Portfolio%20Activity%201Q2019.pdf" target="_blank">Horan Capital Management</a> - ($MTN, $ATVI, $BKNG, $AAPL, $THO, $TCEHY, $GOOG, $FB)</li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($K, $PEP, $NFLX, $AMZN, $TPL)</li>
<li><a href="https://jdpcap.com/wp-content/uploads/2019/05/1Q-2019-Presentation-.pdf" target="_blank">JDP Capital Management</a> - ($XPO, $TK, $SPOT)</li>
<li><a href="https://www.docdroid.net/3VOAy5K/laughing-water-capital-q1-2019.pdf" target="_blank">Laughing Water Capital</a></li>
<li><a href="https://www.dropbox.com/s/1brj1hqavl9r08n/Lightsail%201Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a> - ($DRTTF)</li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5caf96756e9a7f50f6f03ec5/1555011190189/1Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $EVI, $CTEK)</li>
<li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/1Q19-Longleaf-Partners-Commentary.pdf" target="_blank">Longleaf Partners Fund</a> - ($GE, $MAT, $WYNN, $CTL, $HCMLY, $CHKGF)</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5cbdecde53450adb9a30dde5/1555950815790/Maran+Partners+Fund+LP+2019+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5cb5d9ccf9619acd0cf39f4e/1555421645754/Massif+Capital+First+Qtr+2019+Letter+to+Investors.pdf" target="_blank">Massif Capital</a></li>
<li><a href="https://docs.wixstatic.com/ugd/f6ee8c_b0cee1afd831423facf7f964eeada115.pdf" target="_blank">Merion Road Capital</a> - ($FCPT, $SLGG)</li>
<li><a href="https://www.docdroid.net/ostq4If/2019-q1-midwood-q1-2019-investor-letter.pdf" target="_blank">Midwood Capital Partners</a> - ($NXST, $DRTTF, $RCM, $LMB, $REPH)</li>
<li><a href="https://millervalue.com/bill-miller-1q-2019-market-letter/?dtr" target="_blank">Miller Value Partners</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q1-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($HD)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0319.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://assets.pershingsquareholdings.com/2019/05/17082807/Pershing-Square-Holdings-Ltd.-Q1-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a> - ($ADP, $QSR, $LOW, $SBUX, $HLT, $UTX, $HHC, $FNMA, $FMCC)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/q12019-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($GRUB)</li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/24185410-368c-44bd-a930-4a9d92e88bf9/SIF_2019_04_20_Investor_Letter.pdf" target="_blank">Saber Capital Management</a> - ($AAPL. $FB, $TCEHY)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_28dd8002fdf344a382a093d989c5b0f5.pdf" target="_blank">Saga Partners</a> - ($TRUP)</li>
<li><a href="https://docs.wixstatic.com/ugd/de07f6_21e9c90b285a4116ae4312cc1bb1bdbd.pdf" target="_blank">Spree Capital</a> - ($ROKU, $FTDR, $EBAY, $ALRM, $ZAYO)</li>
<li><a href="https://www.docdroid.net/QBav0xn/summers-value-partners-1q19-investor-letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $CVET, $SLGD, $ELAN, $KHTRF)</li>
<li><a href="https://mailchi.mp/ltfunds/templeton-and-phillips-investment-commentary-1q19-india" target="_blank">Templeton and Phillips Capital Management</a> - ($FFXDF, $HDB)</li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5cdd1d38e79c70fa76c315b2/1557994809354/Tollymore+letter+May+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRIP, $SE)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAREX-1Q19-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($INTU.L, $NWHM, $JBGS)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/04/TASCX-1Q19-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($AGX)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAVFX-1Q19-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCC, $TDW, $EXP, $MHK)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5cb8894071c10b5b67e05353/1555597643395/Upslope+-+2019Q1+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($ATR, $YETI, $BLD)</li>
<li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global Growth</a></li>
<li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1557519727747" target="_blank">Weitz Investment</a><span id="goog_1812407177"></span><a href="https://www.blogger.com/"></a><span id="goog_1812407178"></span> - <a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/Analyst%20Corner_CarMax.pdf?1557519727747" target="_blank">An Introduction to CarMax, Inc.</a> - $KMX</li>
</ul>
</div>
<br />
<br />
<span style="font-size: large;">4th Quarter 2018</span><br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5c509321f950b7176a5db508/1548784418298/Q4+2018+Alta+Fox+Capital+Quarterly+Letter+Final.docx.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL)</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2019/01/Alluvial_Capital_Management_Q4_2018_Letter_to_Partners_01.24.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $MMAC, $RAMPF, $AMNF)</li>
<li><a href="https://www.dropbox.com/s/53g8vs2pt3cpv4o/Andvari-2018q4-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MA, $TYL)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/" target="_blank">Ariel Funds</a> - ($ATGE, $AMG, $KN)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/9d0f05b1-9864-4bfe-84ff-d97cd237714e/Arquitos_Investor_Letter_Q4_2018.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li>
<li><a href="https://www.hvst.com/posts/artko-capital-4q-2018-partner-letter-wnLTNPM6" target="_blank">Artko Capital</a> - ($JYNT, $SMED, $AFCN, $USAT, $PRIXQ, $SPAR)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%2012.31.18_3.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_12_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($HRC, $TRS, $CLH, $SSTK, $CMP, $CTLT, $EPAY, $MEDP, $ELY, $MIK, $MG, $SRCL)</li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/02/2018-Q4-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $DEST, $UA, $CMG)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5c2ca3e0aa4a995f08caea24/1546429409931/FY2018.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($BAM, $PTC, $SIRI, $PYPL, $HEI)</li>
<li><a href="http://east72.com.au/wp-content/uploads/2019/01/E72-Quarterly-Report-Dec-2018.pdf" target="_blank">East 72 Holdings</a> - ($AER, $EXXRF, $VIRT)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2018/" target="_blank">Ensemble Fund</a> - ($SCHW, $ST)</li>
<li><a href="https://www.evansandpartners.com.au/sites/default/files/InternationalFundQuarterly_December2018.pdf" target="_blank">Evans and Partners International Fund</a> - ($SKFOF, $RELX, $MMM, $GOOG, $V, $ADDYY, $AON)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/fpa-capital-fund-annual-report_03-31-19_web-ready.pdf?sfvrsn=4" target="_blank">FPA Capital Fund - Annual Report</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/crescent-fund-annual-report-web-ready-(12-31-18).pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2018.pdf" target="_blank">Fundsmith Equity Funds</a> - ($PM, $FB, $SBUX, $MSFT) - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li>
<li><a href="http://www.goodwoodfunds.com/wp-content/uploads/Goodwood-Annual-Report-2018.pdf" target="_blank">Goodwood Funds</a> - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5c4bc50842bfc120277fb927/1548469513395/Greenhaven+2018+Q4+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $KKR, $YELP, $BOX)</li>
<li><a href="https://drive.google.com/file/d/1W8cHASX6-hodil8f2KsnZdbWwkERXCjw/view" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.01.15-Q4-2018-Letter-vFinal.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q4.pdf" target="_blank">Hayden Capital</a> - ($MPNGF, $CVNA, $JD)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS, $NWPX, $ARAY)</li>
<li><a href="https://static1.squarespace.com/static/59a07c7b7131a5b68981e4d5/t/5cc7c1aaf56535000156ba28/1556595115918/Lightsail+2Q+2018+Letter.pdf" target="_blank">Lightsail Capital management</a> - ($DRTTF)</li>
<li><a href="https://www.valuewalk.com/2019/02/mittleman-brothers-4q18-clear-media/" target="_blank">Mittleman Brothers</a></li>
<li><a href="https://drive.google.com/file/d/1TmrJPz9OlvLmGBSiADH7ggUOs544pllr/view" target="_blank">MPE Capital</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/01/Nelson-Roberts-2018-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ZTS)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_1218.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/2018-year-end-investment-commentary-easy-come-easy-go/" target="_blank">RGA Investment Advisors</a> - ($ROKU, $CGNX)</li>
<li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/Co-Investor_Letter_2018-EN.pdf" target="_blank">RV Capital</a></li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_ae6d4d06c60344d8b7971326501d9b65.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LGIH, $FB)</li>
<li><a href="https://drive.google.com/file/d/1YKnOvM33MFTIEO_rnU9ZmOBQczTSqLd0/view" target="_blank">Sebids Capital</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAREX-4Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($DLN.L, $WY, $ZION, $PNC Warrants)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/01/TASCX-4Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CUBI, $MYRG, $ATNI)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAVFX-4Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($DWDP, $DDAIF, $ANFGF)</li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5c3cb0b540ec9ab9b9fd10f0/1547481270127/Tollymore+letter+December+2018.pdf" target="_blank">Tollymore Investment Partners</a> - ($UHAL, $GYM.LN, $ITEGY, $TRIP, $TRUP)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5c38b8cb4fa51a28ba9f70a0/1547221197096/Upslope+-+2018Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($EVR, $BLD, $JE.LN, $DLTR, $KWR, $YETI, $MKTX, $TSLA)</li>
<li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global</a></li>
<li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/4Q18_Value%20Matters.pdf?1557519727747" target="_blank">Weitz Investment</a></li>
<li><a href="http://wiedowercapital.com/files/Letter2018.pdf" target="_blank">Wiedower Capital</a> - ($TRUP, $JD, $ISDR)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/33abc1df-abe9-49a8-aef3-cc6058c2948d/WOSF_Partner_Letter_January_22_2019.pdf" target="_blank">Willow Oak Select Fund</a> - ($BEL)</li>
</ul>
<br />
<br />
<div>
<span style="font-size: large;">3rd Quarter 2018</span></div>
<br />
<div style="font-family: "times new roman"; margin: 0px;">
<div style="font-family: "Times New Roman";">
<ul style="font-family: "Times New Roman";">
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5bc79a54eef1a1e334de4634/1539807830450/Q3+2018+Alta+Fox+Capital+Quarterly+Letter+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($XPEL, $TPNL, $UWN)</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q3-2018-Letter-to-Partners-10.29.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $OTEL, $MMAC, $CTRA, $BXC, $RAMPF)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-3q-2018-partner-letter-X34TP2Oe" target="_blank">Artko Capital</a> - ($TWNKW, $RSSS)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Quarterly%20Report%209.30.18_0.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $SSTK, $MIK, $PLOW, $GNTX, $OI, $APAM, $QUOT)</li>
<li><a href="https://choice-equities.com/wp-content/uploads/2018/11/2018-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($LAWS, $BECN, $BXC, $YELP, $DEST)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5bb318fa15fcc0a9cd511971/1538463995185/2018Q3.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FTV, $FERGY, $CCF, $ROP, $FRC, $AMADY, $CMCSA, $SIRI, $AON)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2018/" target="_blank">Ensemble Fund</a> - ($TRUP, $BKNG)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5be1e3a60e2e72c05e5cdd4b/1541530534947/Greenhaven+Road+-+2018+Q3+Final_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $TRIP, $YELP, $EVI, $BOX)</li>
<li><a href="https://www.docdroid.net/MfMnIs3/greenlight-capital-q3-2018.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.10.10-Q3-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TRIP, $TI)</li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q3.pdf" target="_blank">Hayden Capital</a> - ($MKL, $JD)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TLRY, $BRY, $SRCI, $AXAS, $CCS)</li>
<li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/3Q18-Longleaf-Partners-Funds-Shareholder-Letter.pdf" target="_blank">Longleaf Partners Fund</a> - ($CTL, $BEL, $OCINF)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0918.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Focus%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Global%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/International%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/U.S.%20Small%20Company%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/q32018-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($PYPL, $WBA)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_890d215dee47497ba91e2a46ad7aa95a.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAREX-3Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($BKG.L, $JBGS, $CHKGF)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/11/TASCX-3Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $ASIX, $MYRG)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAVFX-3Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($TDW, $CHKGF, $BZZFF, $DB)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5bc894958165f5a62a1e5c6a/1539871893976/Upslope+-+2018Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($CWH, $TSLA, $MKTX)</li>
</ul>
</div>
</div>
<div style="font-family: "times new roman"; margin: 0px;">
<br /></div>
<br />
<span style="font-size: large;">2nd Quarter 2018</span><br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5b57bd2988251bd8777d5ee0/1532476738546/Q2+2018+Alta+Fox+Capital+Quarterly+Letter.docx.pdf" target="_blank">Alta Fox Capital Management</a> - (T$PNL, $XPLT)</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q2-2018-Letter-to-Partners-7.20.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $SCOO, $NUVR, $MMAC)</li>
<li><a href="https://www.dropbox.com/s/ga6p199nuv30j9i/Andvari-2018q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($TTD, $APPN, $TCEHY, $MKTX, $GOOG)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAKE, $TISI, $TGNA)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-2q-2018-partner-letter-wARTJpDv" target="_blank">Artko Capital</a> - ($EEI, $ROSEW/ROSEU, $WFCF, $FRD)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%206.30.18_0.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_6_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $KN, $OI, $APAM, $CNK, $PLOW, $MIK, $CSOD, $EXLS)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/464760b7-cb8c-4974-98ae-c9ff09e5f2c8/0718_BCM_Partner_Letter_Q2_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($KT)</li>
<li><a href="https://choice-equities.com/wp-content/uploads/2018/08/2018-Q2-CEF-Investor-Letter_WEBSITE-PDF.pdf" target="_blank">Choice Equities Fund</a> - ($CMG, $REED, $BECN)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5b38349e2b6a280422fa91ba/1530410142957/2018Q2.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SAPIF, $TTNDY, $MKSI, $CMCSA, $PNR, $CIGI, $BAX, $SPGI)</li>
<li><a href="http://east72.com.au/wp-content/uploads/2018/07/E72-Quarterly-Report-June-2018.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $UCPLF, $ELFIF)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2018/" target="_blank">Ensemble Fund</a> - ($LB, $PBH)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q2-letter_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li>
<li><a href="https://gatorcapital.com/wp-content/uploads/2018/07/20180723-GFP-2018-Q2-Letter.pdf" target="_blank">Gator Capital Management</a> - ($AMP)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5b5b790daa4a9904b4e75eb0/1532721421547/Greenhaven+%282018+Q2%29_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $YELP, $CSSE)</li>
<li><a href="https://www.docdroid.net/xz9WkeV/greenlight-capital-q2-2018-letter.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.07.18-Q2-2018-Letter-v2.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TI)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS)</li>
<li><a href="https://www.docdroid.net/KyxH0f8/laughing-water-capital-h118.pdf" target="_blank">Laughing Water Capital</a> - ($EZPW, $FCAU, $CDMO, $CWH, $RMNI/$RMNIW)</li>
<li><a href="https://www.docdroid.net/PctUQHa/maran-partners-fund-lp-2018-2q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $LOV)</li>
<li><a href="https://drive.google.com/file/d/1n2UY-hQd8QEPzidhsQFL2lyeBngGsdPw/view" target="_blank">MPE Capital</a></li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0618.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Focus-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Global-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/International-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/US-Small-Company-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2018/08/Q2-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($EQIX)</li>
<li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2018/07/Co-Investor_Letter_H1_2018-EN.pdf" target="_blank">RV Capital</a> - (AddLife, PSG Group)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_6b3f18269c334631a75ac584d4276af6.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAREX-2Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FPH, $LEN)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/07/TASCX-2Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $SAFM)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAVFX-2Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCTPF, $KKWFF, $BCAUY, $HA</li>
<li><a href="http://wiedowercapital.com/files/Letter1H18.pdf" target="_blank">Wiedower Capital</a> - ($JD)</li>
</ul>
<br />
<div>
<br />
<span style="font-size: large;">1st Quarter 2018</span><br />
<br />
<ul>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q1-2018-Letter-to-Partners-4.23.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $OTEL, $LICT, $MMAC $BXC)</li>
<li><a href="https://www.docdroid.net/90TaM6T/arquitos-investor-letter-q1-2018.pdf" target="_blank">Arquitos Capital Management</a> - ($SYTE, $WEDXF)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-1q-2018-partner-letter-wPZT33Kb" target="_blank">Artko Capital</a> - ($HTM, $GAIA, $HDSN, $SKY)</li>
<li><a href="https://doc.morningstar.com/Document/a444b3ab802f4a0c076025c4dee1cd5a.msdoc/original?clientid=globaldocuments&key=52dbc583e1012395" target="_blank">Ariel Funds</a> - ($KEYS, $MHK, $OAK)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $ELY, $EPAY, $CMP, $MIK, $MG)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2249ec23-e80d-46a8-9f65-846264852383/0418__BCM_Partner_Letter_Q1_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TI, $TOO)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ada7a78575d1f52aa6e679d/1524267640733/2018Q1.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SPGI, $CME, $CMCSA, $SPB)</li>
<li><a href="https://www.docdroid.net/S613L8e/1q-2018-dane-investor-letter.pdf" target="_blank">Dane Capital Management</a> - ($DSKE, $IEA, $LAZY, $LMB, $YTRA, $EVI)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2018/" target="_blank">Ensemble Fund</a> - ($NFLX, $DNOW)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q1-letter_vfinal.pdf#page=2" target="_blank">FPA Capital Fund</a> - ($WDC, $TEN, $ALGT)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q1-2018-vfinal.pdf#page=2" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ae7bf98f950b7272142f5c2/1525137305236/Greenhaven+2018+Q1+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $BXC)</li>
<li><a href="https://www.docdroid.net/K95Fju3/greenlight-capital-q1-2018.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.05.11-Q1-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $RYCEY, $VIVHY)</li>
<li><a href="https://www.docdroid.net/81jd56q/laughing-water-capital-q1-2018.pdf" target="_blank">Laughing Water Capital</a> - ($BXC, $OCN, $TRC, $GHL, $ITI, $GAIA)</li>
<li><a href="https://longleafpartners.com/sites/default/files/categories/Documents/1Q18-Longleaf-Partners-Quarterly-Summary-Report-All-Funds.pdf" target="_blank">Longleaf Partners</a></li>
<li><a href="https://www.docdroid.net/eFTaTcE/maran-partners-fund-lp-2018-1q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $IAC, $ATTO)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0318.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2018/05/Q1-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($DIS, $RAMP)</li>
<li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q18.pdf" target="_blank">RiverPark Large Growth Fund</a></li>
<li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rpfvf/commentary/RiverPark_Focused_Value_1Q18_SH_Letter.pdf" target="_blank">RiverPark Focused Value Fund</a></li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_64caf8ca6a264972923df8b202415b9a.pdf" target="_blank">Saga Partners</a> - ($ESI, $LILAK)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAREX-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($AKR, $SRG)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TASCX-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($FRPH, $WEDXF. $SMHI)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAVFX-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BDRLF, $KKWFF, $BMWYY)</li>
<li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2018/04/VVP-Quarterly-Commentary-18.03.31.pdf" target="_blank">Vulcan Value Partners</a></li>
</ul>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-75519216155405700842020-04-25T14:12:00.001-04:002020-04-25T14:12:47.861-04:00<h2>
<span style="font-size: x-large;">Fund Management Letters</span></h2>
<span style="font-size: medium;"><br /></span><span style="font-size: medium;">Just reposting with new letters. Have fun reading.</span><br />
<hr />
<span style="font-size: large;">1st Quarter 2020</span><br />
<span style="font-size: large;"><br /></span><span style="font-size: large;"></span>
<hr />
<br />
<br />
<ul>
<li><a href="https://www.akrefund.com/wp-content/uploads/2020/04/Akre-Focus-Fund-Quarterly-Commentary-2020-Q1.pdf">Akre Focus Fund</a></li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2020-q1.pdf">Alphyn Capital Management</a> - ($EXXRF, $BAM, $KKR, $BRFRF, $WANSF, $CDAY, $CFX, $OSSIF).</li>
<li><a href="https://drive.google.com/file/d/1y1uNGXNScAjx27rcd6yZf_U6GFWLtmVd/view">Andaz Private Investments</a></li>
<li><a href="https://ift.tt/2za22cd">Andvari Associates</a></li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2020/02/APPLX-Q4-2019-Letter.pdf">Appleseed Fund</a> - ($HRTX, $NLY).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTKX-APDKX-APHKX-QCommentary-1Q20-vR.pdf">Artisan International Value Fund</a> - ($BABA, $TCOM, $SLB, $TS, $SU, $SNE, $DANOY, $CNHI).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTMX-APDMX-APHMX-QCommentary-1Q20-vR.pdf">Artisan Mid Cap Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTSX-APDSX-APHSX-QCommentary-1Q20-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/04/Coronavirus-The-Cure-Is-Worse-Than-The-Disease.pdf">Askeladden Capital</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.20.pdf">Baron Asset Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.20.pdf" target="_blank">Baron Discovery Fund</a> - ($INGN, $QLYS, $FND, $SIEN, $PAR, $TXMD, $EVBG, $KTOS, $PENN, $AXNX).</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Focused-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Focused Growth</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Growth Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.20.pdf" target="_blank">Baron Health Care Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Partners-Fund-Letter-3.31.30_0.pdf" target="_blank">Baron Partners Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Small-Cap-Fund-Letter-3.31.20.pdf" target="_blank">Baron Small Cap Fund</a></li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/04/Investor-Letter-Q1-20-FINAL.pdf">Blue Hawk Investment Group</a> - ($MSFT, $MTCH, $NFLX, $EA, $INTU, $ISRG, $V, $FB, $CHTR, $FND, $STZ, $NYT, $SPLK, $LULU).</li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e93edd2125a911e469ed339/1586752979541/2020+Q1.pdf">Blue Tower Asset Management</a></li>
<li><a href="https://browncapital.com/system/files/mcf1q20commentary.pdf">Brown Capital Management Mid Company Fund</a> - ($DXCM, $SHOP, $NCLH, $BFAM, $TDOC)</li>
<li><a href="https://browncapital.com/system/files/scf1q20commentary.pdf">Brown Capital Management Small Company Fund</a> - ($QDEL, $VEEV, $MANH, $PRO, $PLAN, $DDOG, $KIDS, $INCY).</li>
<li><a href="https://browncapital.com/system/files/ief1q20commentary.pdf">Brown Capital Management International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf1q20commentary.pdf">Brown Capital Management International Small Company Fund</a></li>
<li><a href="https://cedcapital.in/wp-content/uploads/2020/04/Quarterly-PMS-Letter-Mar20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e85354c10a8a95136c22668/1585788237400/Q12020.pdf">Comus Investments</a></li>
<li><a href="https://www.crescat.net/wp-content/uploads/Q1-2020.pdf" target="_blank">Crestcat Capital</a></li>
<li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/ecf4cd6f-3eb2-4b0c-8efb-1f9d281cfd7f/2020_Q1_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf">Desert Lion Capital</a></li>
<li><a href="https://www.diamond-hill.com/wp-content/uploads/200331_Diamond-Hill_Small-Cap-Fund-Commentary.pdf">Diamond Hill Small Cap Fund</a></li>
<li><a href="https://www.docdroid.net/kfBxxVh/elliot-letter-april-162020-perspectives-paul-singer-elliott-pdf#page=9">Elliot Management</a></li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2020/" target="_blank">Ensemble Fund</a></li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2020.pdf">Evermore Global Value Fund</a></li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/04/16115847/Client-Letter-Q1-2020_FINAL.pdf" target="_blank">Ewing Morris</a></li>
<li><a href="https://ift.tt/2VWR7dz" target="_blank">Firebird Management</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200331.pdf">FMI All Cap Equity</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200331.pdf">FMI International Equity</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200331.pdf">FMI Large Cap Equity</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200331.pdf">FMI Small Cap Equity</a></li>
<li><a href="https://www.blogger.com/">FPA Crescent Fund</a></li>
<li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/2020-3-fef-letter-to-shareholders.pdf?sfvrsn=12">Fundsmith Equity Fund</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2020/ISC-1Q20-Report.pdf" target="_blank">Harding Loevner International Small Companies Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2020/GSC-1Q20-Report.pdf" target="_blank">Harding Loevner Global Small Companies</a></li>
<li><a href="http://m.heartlandadvisors.com/mid-cap-value-fund-q1-commentary.pdf" target="_blank">Heartland Mid Cap Value Fund</a> - ($WU, $PXD, $AAP)</li>
<li><a href="http://m.heartlandadvisors.com/select-value-fund-q1-commentary.pdf" target="_blank">Heartland Select Value Fund</a> - ($GRC, $CALM, $JNJ)</li>
<li><a href="http://m.heartlandadvisors.com/value-fund-q1-commentary.pdf" target="_blank">Heartland Value Fund</a> - ($MDU, $MDC,$EVTC)</li>
<li><a href="http://m.heartlandadvisors.com/value-plus-fund-q1-commentary.pdf" target="_blank">Heartland Value Plus Fund</a> - ($IDCC, $HTLD)</li>
<li><a href="https://www.hoisingtonmgt.com/pdf/HIM2020Q1NP.pdf" target="_blank">Hoisington Investment Management</a></li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2020-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a></li>
<li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q20.pdf" target="_blank">Horos Asset Management</a> - ($TGP, $TK, $GLNG, $AER, $NPSNY).</li>
<li><a href="https://jdpcap.com/wp-content/uploads/2020/02/2019-Annual-Letter-JDP-Capital-Management.pdf">JDP Capital</a> - ($SPOT, $STNE, $XPO)</li>
<li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/ltglobal-equity-fund/LTGEF_Latest.pdf">Lindsell Train</a>- ($WWE, $DIS, $DEO, $BF.A, $EBAY, $PYPL, $INTU)</li>
<li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/04/2020-03-March-Performance-Update-Public.pdf">LRT Capital</a></li>
<li><a href="https://southeasternasset.com/commentary/1q20-llpf-commentary/">Longleaf Partners Fund</a> - ($H, $DD, $CTL, $CNHI, $PK, $CKHUY, $MAT).</li>
<li><a href="https://southeasternasset.com/commentary/1q20-llgl-commentary/">Longleaf Partners Global Fund</a></li>
<li><a href="https://southeasternasset.com/commentary/1q20-llin-commentary/">Longleaf Partners International Fund</a></li>
<li><a href="https://southeasternasset.com/commentary/1q20-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></li>
<li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/DividendIncome.pdf?ctgv=554.0">Madison Dividend Income Fund</a></li>
<li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/Investors.pdf?ctgv=554.0">Madison Investors Fund</a></li>
<li><a href="https://madisonfunds.com/proxy/files/Funds/InvestmentStrategyLetters/MidCap.pdf?ctgv=554.0">Madison Mid Cap Fund</a></li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5ea1a3fb6d7e355e7a72a301/1587651580748/Maran+Partners+Fund+LP+2020+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li>
<li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20First%20Quarter%20Letter%20to%20Investors.pdf?utm_source=hs_email&utm_medium=email&utm_content=86138479&_hsenc=p2ANqtz-85M_ZqQO42g6PDwSL7bISxrDZM6OIQj5JzJ9uWzZx5Pf0pU87NtPhlX2MKkKLQ0F5775rJ5yF6-0W92JiA-wFdmFYs5g&_hsmi=86138479">Massif Capital</a></li>
<li><a href="https://www.mawer.com/assets/Newsletters/1Q20-Quarterly-Series-A-Net-1.pdf">Mawer Mutual Funds</a></li>
<li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_b57612e6cdaa48429a600bdfe37560c4.pdf">Merion Road Capital</a></li>
<li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2020_03.pdf">Moneta Long Short A</a></li>
<li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2020_03.pdf">Moneta MultiCaps C</a></li>
<li><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2020/">Oakmark Fund</a> - ($AXP, $MTCH, $PINS, $WDAY)</li>
<li><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2020/">Oakmark Select Fund</a></li>
<li><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2020/">Oakmark Global Fund</a></li>
<li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_d588a8b5d90047478bfcd71d0c8dd0a1.pdf">Old West Investment Management</a></li>
<li><a href="https://www.osam.com/pdfs/research/OSAM%20Update_Blizzard,%20Winter,%20or%20Ice%20Age_FINAL.pdf">O’Shaughnessy Asset Management</a></li>
<li><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a> - ($AAP, $AGI, $BHE, $CRI, $CASS, $DKS, $EZPW, $GENC, $HCSG, $HP, $SLV, $KELYA, $OR, $SCHL, $SKX, $SP, $SYKE, $UNF, $UG, $WMK).</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ABT, $BKNG, $FB, $ORLY, $ADSK, $REGN).</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://mcusercontent.com/bca5bc00638aa58b6cada7fab/files/a591f71a-64ef-4ca1-80dc-2ea2a4646172/Rhizome_Partners_Q1_2020_Investor_Letter_Final.pdf">Rhizome Partners</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2020/04/Q1-2020-Investment-Commentary-FINAL.pdf" target="_blank">RGA Investment Advisors</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q20.pdf">RiverPark Large Growth Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT).</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_1Q20.pdf">RiverPark Long/Short Opportunity Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT, $COST, $APO, $KKR)</li>
<li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_4ad59d00e289448cabcd6a61a130760e.pdf" target="_blank">Saga Partners</a> - ($AYX $CVNA $DBX $FB $LGIH $LIMAF $TTD $TRUP $VSEC $WIX)</li>
<li><a href="https://www.saturna.com/sites/default/files/Amana-Q1-2020-web.pdf">Saturna Capital - AmanaFunds</a></li>
<li><a href="https://www.saturna.com/sites/default/files/Sextant-Q1-2020-web.pdf">Saturna Capital - Sextant Funds</a></li>
<li><a href="https://moiglobal.com/wp-content/uploads/Semper-Vic-Partners-L.P.-Letter-to-Investors-April-2020.pdf" target="_blank">Semper Vic Partners</a></li>
<li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ee82efca-a8be-4855-b3e0-e3ba3069a318&Name=Q1_2020_-_Investor_Letter">Sequoia Fund</a></li>
<li><a href="https://smeadcap.com/files/7915/8696/1388/1Q_2020_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li>
<li><a href="https://stjic.com/wp-content/uploads/2020/04/STJIC-Adviser-Letter-2020-Q1.pdf">St. James Investment Company</a></li>
<li><a href="https://mcusercontent.com/5a9b922c73b7d108f230f1403/files/8ff8c300-0ef4-4034-914b-cbd5c86d581d/Steel_City_Capital_1Q_20_Partner_Letter.pdf" target="_blank">Steel City Capital</a></li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/1Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a></li>
<li><a href="https://static1.squarespace.com/static/54ce2abfe4b0513e12ea592f/t/5e886ec613e1233cd43c8cae/1585999558895/Templeton+and+Phillips+Commentary+-+March+2020.pdf">Templeton and Phillips Capital Management</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a> - ($CALM, $CET, $BATRA, $BATRK).</li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAVFX-Shareholder-Letter-Web.pdf">Third Avenue Value Fund</a> - ($BMWYY, $DB, $IFSPF, $HA, $ORI, $FDX, $VNO)</li>
<li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/04/Third-Point-Q1-2020-Investor-Letter-TPOI-1.pdf" target="_blank">Third Point</a></li>
<li><a href="https://drive.google.com/file/d/1jshHJg_zQ30ZvmrU8iBTIBX9zE6CDtdo/view" target="_blank">Tidefall Capital Management</a></li>
<li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q1.pdf">Turtle Creek Equity Fund</a></li>
<li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202020%20-%20Final.pdf">Tweedy, Browne Funds</a></li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e99e67f7f671d105bf293af/1587144320124/Upslope+-+2020Q1+Letter.pdf" target="_blank">Upslope Capital Management</a></li>
<li><a href="https://www.docdroid.net/q7NxMcX/universa-investments-q1-2020-letter-pdf#page=6">Universa Investments</a></li>
<li><a href="https://mcusercontent.com/2686100c548ffa2b413d5cb29/files/3cb819ec-c2d9-4ff5-870b-cc86b4d93fbd/Vltava_Fund_Letter_to_Shareholders_Q1_2020.pdf">Vltava Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Core Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Ultra Growth Fund</a></li>
<li><a href="https://www.asx.com.au/asxpdf/20200406/pdf/44gqxsc6q8zjdy.pdf">WCM Global Growth</a></li>
<li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f47cdae028142f1ade840f42986ab09.pdf">Wedgewood Partners</a> - ($FAST, $FB, $KEYS, $MSFT, $ROSS, $NVDA, $EA, $BKNG, $EW).</li>
<li><a href="https://www.whitebrookcapital.com/1q2020-commentary" target="_blank">White Brook Capital</a></li>
<li><a href="https://mcusercontent.com/d194e1b3fd218137abdb074da/files/90c79ff7-93d3-49ac-9da6-1f1ea8209ae0/2020_04_16_White_Crane_Q1_2020_Letter.pdf">White Crane Capital</a></li>
<li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5ea1a3a3bc77342600cf7649/1587651493472/Worm+Capital+-+Q1+2020+Investor+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li>
</ul>
<div>
<br /></div>
<span style="font-size: large;"><br /></span><span style="font-size: large;">4th Quarter 2019</span><br />
<br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5e35af9e12c5156ca6085326/1580576670740/Q4%2719+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($ISDR, $RICK, $TSSI, $DPZ)</li>
<li><a href="https://drive.google.com/file/d/1ANcyf36aA9H83xfjYF3N5Z6Rc2YaS75q/view" target="_blank">2Point2 Capital</a></li>
<li><a href="https://gallery.mailchimp.com/f6660ee7c7b25c0643c0e8337/files/53f90575-0084-456e-b563-3e47282ae860/Admiral_Cap_4Q19_Letter.pdf">Admiral Capital Partners Fund</a> - ($CVNA, $GDDY, $GTT).</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2020/01/Alluvial-Capital-Management-Q4-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $CRAWA, $BUKS, $NUVR, $LICT)</li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5e3633d4cd5a0d4354e18334/1580610521595/Q4+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a></li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q4.pdf" target="_blank">Alphyn Capital Management</a></li>
<li><a href="https://drive.google.com/file/d/1OSNsquPrryvmnAYEPpfK8VMGtb5qSILE/view" target="_blank">Andaz Private Investments</a></li>
<li><a href="https://ift.tt/2TwwgOx" target="_blank">Andvari Associates</a></li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($ARDX, $SAVE, $MOS, $SINA, $SNE, $RYAAY).</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Funds</a> - ($CCL, $NLSN).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/APFDX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTMX-APDMX-APHMX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($SWKS, $TW, $CMS, $UA, $ABMD, $ZS, $BURL, $AMD, $ANET, $SERV, $DXCM).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTSX-APDSX-APHSX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTLX-APDLX-APHLX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Value Fund</a></li>
<li><a href="https://www.hvst.com/posts/artko-capital-4q-2019-partner-letter-w57TvkLz" target="_blank">Artko Capital</a> - ($MO, $REPH, $GAIA, $RSSS)</li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/02/2020-02-17-Askeladden-Capital-Q4-2019-Letter-Breaking-Bad.pdf">Askeladden Capital</a></li>
<li><a href="https://content.rwbaird.com/RWB/Content/PDF/AssetManagement/Q3-2019-Mid-Cap-Growth-Mutual-Fund-Commentary.pdf">Baird MidCap Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Asset Fund</a> - ($DXCM, $SAGE).</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Focused Growth</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Growth Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Discovery Fund</a> - ($PGNY, $ESPR, $SIEN, $SITE, $ICHR, $TXMD, $MRCY, $FSCT, $TCMD, $SCPPF, $OLLI, $BRP, $CDNA).</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%2012.31.19_0.pdf" target="_blank">Baron Partners Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Small Cap Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Real%20Estate%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Real Estate Fund</a></li>
<li><a href="http://www.bernzott.com/uploads/1/5/9/5/15953620/2019_12_31_bca_scv_marketcomm.pdf?utm_source=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $PLOW, $LOGM, $MG, $MIK, $CNK, $CTLT, $EPAM, $AGS).</li>
<li><a href="https://s3.amazonaws.com/bireme/4Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a> - ($KRG, $DNKN)</li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/01/Q4-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a></li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e2e81226ba9076709046053/1580106019545/2019+Q4.pdf" target="_blank">Blue Tower Asset Management</a></li>
<li><a href="http://boyarvaluegroup.com/bvg-pdf/4Q_2019_BoyarResearch.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=82628381&_hsenc=p2ANqtz-_eFJS4AvVpyZPJ93cqx7hT_a3Ecgy_iQ8I_KJWvq6pyI5hY8KWOrRF3lJXq2wgq7vsVrrVKm3ExXWqv88qtB2prmxWqg&_hsmi=82628381" target="_blank">Boyar Group</a></li>
<li><a href="https://browncapital.com/system/files/mcf4q19commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li>
<li><a href="https://browncapital.com/system/files/scf4q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($VEEV, $GKOS, $TNDM, $SMAR).</li>
<li><a href="https://browncapital.com/system/files/ief4q19commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf4q19commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li>
<li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/02/The-Broyhill-Letter-2020.02-FINAL.pdf">Broyhill Asset Management</a></li>
<li><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2020/01/bumbershoot-holdings-2020-1-jan-letter-to-partners-2019-1.pdf" target="_blank">Bumbershoot Holdings</a></li>
<li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></li>
<li><a href="https://citronfund.com/wp-content/uploads/2020/01/Citron-Capital-Annual-Investor-Letter-for-2019.pdf" target="_blank">Citron Capital</a> - ($RH, $PTON).</li>
<li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2019+Q4+Letter.pdf">Coho Capital</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e181bff65c626738a349429/1578638336674/FY2019.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($YUMC, $FRRVF, $PTC)</li>
<li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5e3048cf9826d330d5c2854e/1580222671293/Q4+and+YE+2019+Letter.pdf" target="_blank">Curreen Capital</a></li>
<li><a href="https://danwang.co/2019-letter/" target="_blank">Dan Wang</a></li>
<li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a>.</li>
<li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a></li>
<li><a href="https://davisfunds.com/downloads/DIFAnnualReview.pdf" target="_blank">Davis International Fund</a></li>
<li><a href="https://davisfunds.com/downloads/DNYVFPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li>
<li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li>
<li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Midcap-Letter-4Q19.pdf" target="_blank">DF Dent Midcap Growth</a> - ($ODFL, $TWLO, $VEEV, $ANSS, $MCO, $CBRE, $VRSK, $VMC, $MKL).</li>
<li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Small-Cap-Letter-4Q19.pdf" target="_blank">DF Dent Small Cap Growth</a></li>
<li><a href="https://www.diamond-hill.com/wp-content/uploads/191231_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li>
<li><a href="https://gallery.mailchimp.com/90031b83688dd5c83d79fcf31/files/48eecab4-b7af-4d56-8e05-f3d54f33d10f/DKAM_ROE_Reporter_January_2020_.pdf" target="_blank">Donville Kent Asset Management</a></li>
<li><a href="https://www.nsx.com.au/ftp/news/021737727.PDF" target="_blank">East 72 Holdings</a></li>
<li><a href="https://gallery.mailchimp.com/dd77d6a119e511a93e9308144/files/98e445bf-1c22-4a23-8a6b-1d71d798899f/Edgebrook_Mid_Year_Letter_2019.pdf" target="_blank">Edgebrook Partners</a> - ($APEUF)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2019/" target="_blank">Ensemble Fund</a> - ($PAYX, $BR)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2019.pdf">Evermore Global Value Fund</a> - ($IAC, $MTCH, $ANGI, $STNG, $KRA, $ENZ).</li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15183252/Q4-2019-Broadview-Dark-Horse-Quarterly-Letter.pdf" target="_blank">Ewing Morris Dark Horse</a> - ($LQSIF)</li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15170401/Q4-2019-Final-1.pdf" target="_blank">Ewing Morris Opportunities Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-12_final.pdf?sfvrsn=8">FPA Capital Fund</a></li>
<li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2019.pdf?sfvrsn=6" target="_blank">Fundsmith Equity Fund</a></li>
<li><a href="http://gatorcapital.com/wp-content/uploads/2020/01/GFP-Q4-Investor-Letter-Updated.pdf" target="_blank">Gator Capital Management</a></li>
<li><a href="http://www.givernycapital.com/en/doc/236/Giverny_Capital_-_Annual_Letter_2019_web_.pdf">Giverny Capital</a></li>
<li><a href="http://www.goodhavenfunds.com/media/pdfs/2019_AR.pdf" target="_blank">GoodHaven Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5e4703048934db2c06ec56ae/1581712134756/Greenhaven+Road+Letter+%282019+Q4%29.pdf">Greenhaven Road Capital</a></li>
<li><a href="https://www.scribd.com/document/443770600/Greenlight-Q4-2019#download&from_embed" target="_blank">Greenlight Capital</a> - ($AER, $AGO, $ATC, $BHF, $CC, $GM, $GRBK, $NFLX, $DXC).</li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.01.23-Q4-Letter-v5.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-4Q19-Report.pdf">Harding Loevner Global Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2019/IE-4Q19-Report.pdf">Harding Loevner International Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2019/ISC-4Q19-Report.pdf">Harding Loevner International Small Companies Equity</a> - ($GUZOF, $ALICORC1, $PGENY).</li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-4Q19-Report.pdf">Harding Loevner Global Small Companies</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q4.pdf">Hayden Capital</a> - ($SE).</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($LEG, $EXC, $UMBF)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SCHW, $GTS, $CONE).</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TBBK, $AMRC)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($ASB, $PAHC)</li>
<li><a href="http://www.hgcinvest.com/wp-content/uploads/2020/01/HGC-Arb-Letter-December-2019.pdf" target="_blank">HGC Investment Management</a> - ($GSAC, $DEAC).</li>
<li><a href="https://www.hoisingtonmgt.com/pdf/HIM2019Q4NP.pdf">Hoisington Investment Management</a></li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q4-2019-Horizon-Kinetics-Commentary_FINAL.pdf" target="_blank">Horizon Kinetics</a></li>
<li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q19.pdf">Horos Asset Management</a></li>
<li><a href="https://www.dropbox.com/s/wj5xngs5dpjc0la/Huffman%20Prairie%20-%202H2019%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a> - ($PKE)</li>
<li><a href="https://l1international.com/wp-content/uploads/2020/01/L1-Capital-International-Fund-Quarterly-2019-12.pdf" target="_blank">L1 Capital International Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5e3b0e94a8e0ad4a457d4a5e/1580928660765/Laughing+Water+Capital+YE+2019.pdf">Laughing Water Capital</a></li>
<li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/lt-uk-fund/2019/LTUK_MR_2019_12.pdf" target="_blank">Lindsell Train</a></li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5e33310f6cac3d0b6f0a070d/1580413200079/4Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $CTEK, $SFE, $PESI)</li>
<li><a href="https://southeasternasset.com/commentary/4q19-llpf-commentary/">Longleaf Partners Fund</a></li>
<li><a href="https://www.lyricalam.com/wp-content/uploads/2020/01/LAM-2019-Review-letter.pdf" target="_blank">Lyrical Asset Management</a></li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5e323c32f8043d0750f9a1f1/1580350515744/Maran+Partners+Fund+LP+2019+Q4+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RNGR, $SDI).</li>
<li><a href="https://www.mcmadvisors.com/wp-content/uploads/2020/01/Martin-Capital-Management-2019-Annual-Report.pdf" target="_blank">Martin Capital Management</a></li>
<li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Year%20End%20Letter.pdf?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-8wWAtvLCSJ92jhQUdjS_UF5sLUTcGZPdtnlxPMJfKIFGmlgVgnj1U2Yj9GHeBoCbudkm9l" target="_blank">Massif Capital</a></li>
<li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_4b6d6eb57e724504b2acd6925fe444a6.pdf" target="_blank">Merion Road Capital</a> - ($TTWO, $ODP)</li>
<li><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf">Miller Value Fund</a> - ($FTCH, $ET, $CDEV).</li>
<li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2019_12.pdf" target="_blank">Moneta Long Short A</a></li>
<li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2019_12.pdf" target="_blank">Moneta MultiCaps C</a></li>
<li><a href="https://drive.google.com/file/d/1HXfARV-D0Ty0LjixHFdMQc9keEOyV3XN/view" target="_blank">MPE Capital</a> - ($CACC).</li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/01/2019-Nelson-Roberts-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($IBM)</li>
<li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Fourth-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a></li>
<li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_1eee8738221f439bacc164cda1472ccf.pdf">Old West Investment Management</a> - ($GOLD)</li>
<li><a href="https://www.osam.com/pdfs/research/Q4%202019%20Investor%20Letter%20-%20FINAL.pdf" target="_blank">O’Shaughnessy Asset Management</a></li>
<li><a href="https://www.palmharbourcapital.com/files/PHC%20Q4%202019%20Letter.pdf" target="_blank">Palm Harbour Capital</a></li>
<li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_7f7cfd9362f1496597164ec1ee5a1757.pdf" target="_blank">Palm Valley Capital Fund</a></li>
<li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/dab30c88-52e6-425d-94a0-2f672f543d3f/4Q19%20Parnassus%20Core%20Equity%20Fund%20Commentary.pdf">Parnassus Core Equity Fund</a></li>
<li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/fc4897bd-50cb-43fb-9296-bddb814716c6/4Q19%20Parnassus%20Mid%20Cap%20Fund%20Commentary.pdf">Parnassus Mid Cap Fund</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $CRM, $ABT, $NOW, $ORCL).</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Global Growth</a> - ($MSFT, $BABA, $ABT)</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - International Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5e66d8317891847c6cd48c38/1583798321575/RF+Capital+Q4+2019+Investor+Letter.pdf">RF Capital Management</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2020/01/2019-Year-End-Commentary_FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($ANGI, $DBX, $GRUB, $TWTR)</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($AAPL, $UNH, $BX, $MSFT, $ADSK, $SDC, $TWTR, $NOC, $TDC, $TWLO).</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_4Q19.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_4Q19_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li>
<li><a href="http://rltcapital.com/wp-content/uploads/2020/01/Dont-Cha-Know.pdf" target="_blank">RLT Capital</a></li>
<li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Fund.pdf">RMB Fund</a></li>
<li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Small-Cap-Fund.pdf">RMB Small Cap Fund</a></li>
<li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-SMID-Cap-Fund.pdf">RMB SMID Cap Fund</a></li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/aaf68a26-7a10-4c45-bfe1-fb0cb97b85d1/Saber_Investment_Fund_Q4_2019_Letter.pdf" target="_blank">Saber Capital Management</a></li>
<li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c69e35b055894d1aad827cde8423bc2f.pdf">Saga Partners</a> - ($TTD, $LIMAF, $FB, $LGIH, $VSEC, $CVNA)</li>
<li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q4-2019-web.pdf">Saturna Capital</a></li>
<li><a href="https://www.saturna.com/sites/default/files/Amana-Q4-2019-web.pdf">Saturna Capital - AmanaFunds</a></li>
<li><a href="https://www.saturna.com/sites/default/files/Sextant-Q4-2019-web.pdf">Saturna Capital - Sextant Funds</a></li>
<li><a href="https://static.fmgsuite.com/media/documents/c388840b-3dda-41da-a062-077bf785255b.pdf">Semper Augustus</a></li>
<li><a href="https://www.ruanecunniff.com/Download.aspx?ID=7a947f03-c188-49d6-b32f-9cddfe5ebb9a&Name=Q4_2019_-_Investor_Letter" target="_blank">Sequoia Fund</a></li>
<li><a href="https://gallery.mailchimp.com/57cdfc490b101d54b70128c06/files/a813a300-8f68-43cb-8b3d-2fa28aed58fb/SilverRingValuePartners_2019Q4_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li>
<li><a href="https://smeadcap.com/files/9315/7910/2122/4Q_2019_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li>
<li><a href="https://www.socialcapital.com/annual-letters/2019.pdf">Social Capital</a></li>
<li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_d91d278701ba4b21afd564ffabb36d1f.pdf" target="_blank">Spree Capital</a> - ($RST, $MTCH, $FERGY).</li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/2019-Annual-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($TARO, $EGRX, $ELMD)</li>
<li><a href="https://taovalue.files.wordpress.com/2020/02/taovalue_2019_q4_final.pdf">Tao Value</a></li>
<li><a href="https://www.langfrist.de/dokumente/2019_e_Rubicon_full.pdf" target="_blank">TGV Rubicon Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($GPOR.L, $HHC, $PSA, $VNO, $SRG, $FPH).</li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BMWYY, $DB, $MAC).</li>
<li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/01/Third-Point-Q4-2019-Letter-TPOI-Final.pdf" target="_blank">Third Point</a></li>
<li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2019-Q4.pdf" target="_blank">Turtle Creek Equity Fund</a></li>
<li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li>
<li><a href="https://mcusercontent.com/2506bda6ca9a8b7ce8b3c54b4/files/0c17bc16-6a20-4c24-8459-53e800315fe7/TARF_2019_Annual_Commentary_vFinal.pdf" target="_blank">Tyro Capital Management</a> - ($MO, $REPH, $SKY, $SMCI, $MTCH, $UBSFF, $BXC, $MYOV)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e209a872cfe3e653d0bd4bd/1579195017065/Upslope+-+2019Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FOCS, $DLTR)</li>
<li><a href="https://www.dropbox.com/s/lgqbpo4oownzo5m/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q4%202019%20%28V1.1%29.pdf?dl=0&utm_source=The+Vilas+Fund%2C+LP&utm_campaign=d48e03b6f7-4Q2019+Main&utm_medium=email&utm_term=0_d81d32d2af-d48e03b6f7-431110445" target="_blank">Vilas Fund</a></li>
<li><a href="http://www.vltavafund.com/data/dopisy/dopis_58_en.pdf" target="_blank">Vltava Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li>
<li><a href="https://www.asx.com.au/asxpdf/20200108/pdf/44d49tnm31r1hz.pdf" target="_blank">WCM Global Growth</a></li>
<li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_b41d00a2669749f4babb2c468e820ecd.pdf" target="_blank">Wedgewood Partners</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Hickory Fund</a></li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners III Opportunity Fund</a> - ($SIRI, $LSXMB, $EVREF).</li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners Value Fund</a></li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Value Fund</a></li>
<li><a href="https://whitebrookcapital.app.box.com/s/ds32xz73grnzqbxdargxzancsg91q7it" target="_blank">White Brook Capital</a></li>
<li><a href="https://gallery.mailchimp.com/d194e1b3fd218137abdb074da/files/a8558333-dad0-40c8-8abd-8468fb20e0f9/2020_01_21_WCMSF_Q4_2019_Letter.pdf" target="_blank">White Crane Capital</a></li>
<li><a href="https://www.docdroid.net/tJT1NRd/wolf-hill-2019-year-end-letter.pdf" target="_blank">Wolf Hill Capital</a> - ($CNR, $REGI, $WTSHF)</li>
<li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5e1d007471426f2f29068da4/1578958966239/Worm+Capital+2019+Year+End+Letter.pdf" target="_blank">Worm Capital</a></li>
</ul>
<br />
<br />
<span style="font-size: large;">3rd Quarter 2019</span><br />
<br />
<div>
<br />
<ul>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2019/10/Alluvial-Capital-Management-Q3-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $LICT, $NUVR, $APTL, $NORSA, $PIOE, $MHGU, $ITD.IM, $EDAC.IM, $SIO.IM)</li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q3.pdf" target="_blank">Alphyn Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5db8fdd21b54db1101ac3c18/1572404691231/Q3+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($KRMD, $KYYWF, $STKS)</li>
<li><a href="https://www.docdroid.net/I8sosdq/andaz-notes-2019-09-30.pdf" target="_blank">Andaz Private Investments</a> - (CBS.B, $VIAB)</li>
<li><a href="https://ift.tt/35Tb1KD" target="_blank">Andvari Associates</a></li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($SINA, $WB, $MOS, $SAVE, $ARDX, $SNE, $RYAAY)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/eb95b5c5-e141-4f87-b0d5-95d5e1a7a2a5/Arquitos_Investor_Letter_Q3_2019.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $WEDXF)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BX, $BWA, $DIFTY, $ZBH)</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTMX-APDMX-APHMX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($ALXN, $EXAS, $GDI, $GWRE, $CTLT, $BURL, $PAGS, $LHX, $ANET, $ASND)</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTSX-APDSX-APHSX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-3q-2019-partner-letter-EvrTnLGB" target="_blank">Artko Capital</a> - ($FTK, $LEAF, $SKY, $USAT, $EEI, $SPAR)</li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/11/2019-10-28-Askeladden-Capital-Q3-2019-Letter-Earn-It.pdf" target="_blank">Askeladden Capital</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Asset Fund</a> - ($CCC)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Focused Growth</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Growth Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Discovery Fund</a> - ($TXMD, $FND, $TREX, $MRCY, $KNSL $VRAY, $SILK, $BE, $CDNA, $TPIC, $MDLA, $PING, $WMS, $VRNS, $INGN)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Partners Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Investor%20-%20Baron%20Small%20Cap%20Fund%203Q19.pdf" target="_blank">Baron Small Cap Fund</a> - ($CDAY, $CCC, $COLD)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $SP, $PLOW, $OI, $AGS, $QUOT,$ CTLT, $EPAM, $KN, $CLDR, $AGS, $GNRC)</li>
<li><a href="https://s3.amazonaws.com/bireme/3Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $COKE)</li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/10/Q3-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($SFIX, $GRUB, $MTCH, $NFLX)<span id="goog_146329209"></span><a href="https://www.blogger.com/"></a><span id="goog_146329210"></span></li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5dad22ac218aa17443c4035b/1571627692663/2019+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2d3eecc8-c31e-45c7-8c24-e0e1a8269ac3/1019_BCM__Partner_Letter_Q3_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $CAMB.LN)</li>
<li><a href="https://browncapital.com/system/files/scf3q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($TYL, $MANH, $ABMD, $INGN)</li>
<li><a href="https://browncapital.com/system/files/mcf3q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a> - ($EW, $TYL, $ALGN, $ULTA, $MKTX, $CRL, $JBHT)</li>
<li><a href="https://browncapital.com/system/files/ief3q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a> - ($CZMWF, $ESLOY, $QGEN, $IPSEF, $MONOY)</li>
<li><a href="https://browncapital.com/system/files/iscf3q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/10/2019-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> ($RUBI, $BXC, $HOME, $QMCO)</li>
<li><a href="https://drive.google.com/file/d/1jzHBEfehpV9TfzwFhiGl91UMVtnGwWjS/view">Compound Everyday Capital</a></li>
<li><a href="https://gallery.mailchimp.com/a6cd0be2415ea775a57718587/files/14809e7f-2f16-4cb8-8fb3-8c589f63c6ed/50._Q3_2019.pdf" target="_blank">Compound Money Fund</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5db88acf71786e4ef3228683/1572375248129/2019Q3.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($IPGLF, $NVST, $A, $FRC)</li>
<li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5da0d2a16603d478b62581b4/1570820769906/Q3+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($GTX, $KTB, $MFGP, $BLD)</li>
<li><a href="https://davisfunds.com/downloads/DFFInterview.pdf" target="_blank">Davis Financial Fund</a></li>
<li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a> - ($JD, $AMAT)</li>
<li><a href="https://davisfunds.com/document/read/DNYPMComm" target="_blank">Davis New York Venture Fund</a></li>
<li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a></li>
<li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/bf83181f-b69f-4ece-a640-a4007c15ed07/Q3_2019_Investor_Letter_Desert_Lion_Capital.pdf" target="_blank">Desert Lion Capital</a></li>
<li><a href="https://www.diamond-hill.com/wp-content/uploads/190930_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li>
<li><a href="http://east72.com.au/wp-content/uploads/2019/10/E72-Quarterly-Report-Sept-2019.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $DTLA, $FFXDF, $VULC, $PICO)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2019/" target="_blank">Ensemble Fund</a> - ($MA, $TIF)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2019.pdf" target="_blank">Evermore Global Value Fund</a></li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2019/10/07164955/Quarterly-Update-Q3-2019.pdf" target="_blank">Ewing Morris</a></li>
<li><a href="https://www.fmimgt.com/fmi/funds/shrpt/ann_shrpt_093019.pdf" target="_blank">Fiduciary Management FMI Large Cap</a> - ($HDS)</li>
<li><a href="https://t.co/3lQBLZ89rY?amp=1" target="_blank">Firebird Management</a> - ($LNC, $GES)</li>
<li><a href="https://focusedcompounding.com/wp-content/uploads/2017/06/Q3_2019_Letter_to_Clients-1.pdf" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI, $TPHS, $KEWL, $MLP)</li>
<li><a href="https://www.asx.com.au/asxpdf/20191011/pdf/449dftp5k138nd.pdf" target="_blank">Forager Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2019-q3b0f6f4531b0367849d6cff0000f7084a.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-09.pdf?sfvrsn=8" target="_blank">FPA Capital Fund</a> - ($AMBA, $NBL, $DAN, $IDCC)</li>
<li><a href="http://gatorcapital.com/wp-content/uploads/2019/10/GFP-Q3-Investor-Letter.pdf" target="_blank">Gator Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5daa7eaeab96a61181bef76f/1571454639744/Greenhaven+Road+Letter+%282019+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($NTDOY, $CSSE, $KKR, $BXC, $APPS, $PAR, $SHSP, $GIGRT, $GIGWS)</li>
<li><a href="https://www.docdroid.net/hM7Tnw8/qlet2019-032.pdf" target="_blank">Greenlight Capital</a> - ($NFLX, $TSLA, $CC)</li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.11.14-Q3-Letter.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://ift.tt/34FFgn5" target="_blank">Goehring & Rozencwajg</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q3.pdf" target="_blank">Hayden Capital</a> - ($CACC)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a></li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SAFM, $MHK, $CVS)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($VST, $LNDC)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a></li>
<li><a href="https://www.docdroid.net/pCmtahr/hellerhouseopportunityfund-2019q2letter-public.pdf#page=17" target="_blank">Heller House Opportunity Fund</a> - ($SHOP $WORK $ROKU)</li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a></li>
<li><a href="https://www.dropbox.com/s/l24e3ilw0j2kkyq/Lightsail%203Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li>
<li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/investment-insights/2019/Are%20You%20Experienced%20-%20November%202019.pdf" target="_blank">Lindsell Train</a></li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5db9dbd123316d682a695a20/1572461522295/3Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $PSSR, $SIFY, $INS, $CTEK, $TBTC)</li>
<li><a href="https://southeasternasset.com/commentary/3q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CTL, $GOOG, $GOOGL, $CMCSA, $GE, $FDX, $FRFHF)</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5db9f8173907823b364ebba8/1572468760093/Maran+Partners+Fund+LP+2019+Q3+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RCMT)</li>
<li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Third%20Quarter%20Letter%20to%20Investors.pdf" target="_blank">Massif Capital</a> - ($DO, $TOO, $EAF, $DE, $UNP, $CSX, $NCLH)</li>
<li><a href="https://docs.wixstatic.com/ugd/f6ee8c_adb2e39184484fd5a9374a1b8ddad5fe.pdf" target="_blank">Merion Road Capital</a> - ($HXL, $IAA, $TRNS)</li>
<li><a href="https://www.hvst.com/organization/meson-capital-partners-llc/posts/meson-q3-update-man-vs-machine-wPZT3xZx" target="_blank">Meson Capital</a></li>
<li><a href="https://brookvine.com.au/wp-content/uploads/2019Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/10/2019-Q3-Nelson-Roberts-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($SIVB, $SCHW, $AKAM, $PFE, $DLR)</li>
<li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Third-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a> - ($GOOG, $CHTR, $DDAIF, $APA)</li>
<li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_fe35b044b6f9420aa65670c4b7dfbf7f.pdf" target="_blank">Old West Investment Management</a></li>
<li><a href="https://docs.wixstatic.com/ugd/ef2f99_2044e47207184e0a96223be92f96d4b5.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.B, $CRD/B, $GENC)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $IT, $MSCI)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a> - ($ALGN, $ABT, $SGSOY)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a> - ($TREX, $FND, $LMAT, $FOXF, $OLLI, $TREE, $APPF, $ALTR)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="https://files.constantcontact.com/07cbbb80601/d7746d56-0340-44ba-b2d3-fb41d43a159a.pdf" target="_blank">Rangeley Capital</a> - ($CHTR)</li>
<li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5db930e3f152967e525fbd89/1572417764733/RF+Capital+Q3+Letter+2019.pdf" target="_blank">RF Capital Management</a> - ($FL, $GAPFF, $ZAGG, $GME, $GTX)</li>
<li><a href="http://www.rgaia.com/q32019-investment-commentary-kambi/" target="_blank">RGA Investment Advisors</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($GOOG, $BX, $AAPL, $NOC, $EQIX, $EXAS, $ALGN, $AMZN, $SDC, $ULTA, $TWLO)</li>
<li><a href="http://www.rmbcap.com/files/RMB_Core_Equity_-_Investor_Letter_3Q19.pdf" target="_blank">RMB Core Equity Fund</a></li>
<li><a href="https://themarketplunger.com/2019/11/12/q3-2019-letters/" target="_blank">Rockvue Capital</a> - ($UAA, $FOX)</li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/4d8542a4-48be-4664-bc79-6506621e8100/Saber_Investment_Fund_Q3_Letter.pdf" target="_blank">Saber Capital Management</a></li>
<li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_7f9545a28a0a48129a7920980b5b2f27.pdf" target="_blank">Saga Partners</a> - ($VSEC)</li>
<li><a href="https://sevencanyonsadvisors.com/resources/seven-canyons-world-innovators-quarterly-commentary/" target="_blank">Seven Canyons World Innovators</a></li>
<li><a href="https://docs.wixstatic.com/ugd/de07f6_0c03e7d62d824ca98a96fa974471a7fb.pdf" target="_blank">Spree Capital</a> - ($CFX, $CARS)</li>
<li><a href="https://srk-capital.com/content_files/2019/11/SRK-Fund-Q3-2019.pdf" target="_blank">SRK Capital</a></li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/3Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($SLGD, $BSTC, $ELMD)</li>
<li><a href="https://taovalue.files.wordpress.com/2019/10/taovalue_2019_q3_final.pdf" target="_blank">Tao Value</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/11/2019-Q3-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($CLNY, $GWW, $HNGKY)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CTB, $SAFM)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li>
<li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2019/10/Third-Point-Q3-2019-Letter-TPOI-.pdf" target="_blank">Third Point Offshore Fund</a> - ($ESLOY, $SNE)</li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5da981abd30f37336bb612b3/1571389868322/Tollymore+letter+Sep+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($GRUB)</li>
<li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Fund</a> - ($KRNTY, $FOX $FOXA, $TBABF, $BIDU)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5da09b01c80d065ebaf8d703/1570806531156/Upslope+-+2019Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($IT)</li>
<li><a href="https://www.dropbox.com/s/vsrenaad14f2bxa/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q3%202019%20%28Final%29.pdf?dl=0&utm_source=Website+Signup+-+Vilas+Capital+Management%2C+LLC&utm_campaign=8004c87a9b-3Q2019+Ltr_Web&utm_medium=email&utm_term=0_0fbdf27fc5-8004c87a9b-431098533" target="_blank">Vilas Capital</a></li>
<li><a href="http://www.vltavafund.com/data/dopisy/dopis_57_en.pdf" target="_blank">Vltava Fund</a> - ($BRK.A, $BRK.B, $SBRCY, $BMWYY)</li>
<li><a href="https://docs.wixstatic.com/ugd/5bfe4b_03b9a051772a4b9792c849ed7f74150a.pdf" target="_blank">Wedgewood Partners</a> - ($CDW, BRK.B, $NVDA, $ULTA)</li>
<li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/3Q19_Value%20Matters.pdf?1572140971546" target="_blank">Weitz Value Fund</a></li>
<li><a href="https://whitebrookcapital.app.box.com/s/4giogadrnt294d6q8t3a4awtxhrkjmjh" target="_blank">White Brook Capital</a> - ($BOX, $GRPN)</li>
<li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5db752012422566f6f7f86a4/1572295170818/Q3+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li>
</ul>
<div>
<br /></div>
</div>
<span style="font-size: large;">2nd Quarter 2019</span><br />
<br />
<div>
<br />
<ul>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2019/07/Alluvial-Capital-Management-Q2-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $NUVR, $MMAC, $RAMPF, $CLWY, $CMLS, $FTR)</li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q2.pdf" target="_blank">Alphyn Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5d3a2ee5c694120001688a00/1564094184541/Q2+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($PAYS, $KWS, $NTDOY)</li>
<li><a href="https://www.dropbox.com/s/19lcbm48spw3g9c/Andvari-2019q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MLAB, $UPLD, $APPN, $BL, $WDAY, $TYL)</li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/08/APPLX-Q2-2019.pdf" target="_blank">Appleseed Fund</a> - ($CRTO, $SINA)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAZ, $TAP, $MTSC)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/6b4ee586-4e8c-4044-a1be-d9f30c4f9e34/Arquitos_Investor_Letter_Q2_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC)</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTMX-APDMX-APHMX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTSX-APDSX-APHSX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.hvst.com/posts/artko-capital-2q-2019-partner-letter-EvrTnmKZ" target="_blank">Artko Capital</a> - ($CCNI, $JYNT, $WFCW, $FLL, $NRCGW)</li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/07/2019-06-29-Askeladden-Capital-Q2-2019-Letter-Askeladden-Reloaded.pdf" target="_blank">Askeladden Capital</a> - ($FC, $AER, $DLTH, $LGIH, $SFM, LQDT)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $IDXX, $SSNC, $BNFT, $IRDM, $FDS, $ACGL, $RRR, $TWOU, $CVET, $ADPT, $ALEC)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $ACGL, $CHH, TSLA, $BNFT, $MANU)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($IDXX, $JBT, $SITE, $TTD, $BFAM, $GTT, $RRR, $CISN, $PRA, $CVET, $TREX)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_6_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $GNRC, $BV, $CLDR, $SSTK, $MIK, $EPAM, $SNPS, $LOGM, $INOV, $CARB, $MINI)</li>
<li><a href="https://www.biremecapital.com/blog/fundamental-value-2q19-quarterly-letter" target="_blank">Bireme Capital</a></li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/07/Q2-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $GRUB, $TRIP)</li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5d350ce2e13121000110246f/1563757795868/2019+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($CNR)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/8ef5fe82-9246-4fdd-afb3-8bb4681ebb8b/0719_BCM_Partner_Letter_Q2_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $GTN)</li>
<li><a href="https://browncapital.com/system/files/scf2q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li>
<li><a href="https://browncapital.com/system/files/mcf2q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li>
<li><a href="https://browncapital.com/system/files/ief2q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf2q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/07/2019-Q2-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($DEST, $BXC, $PAR)</li>
<li><a href="https://www.docdroid.net/IereKR2/coho-capital-2019-q2-letter.pdf" target="_blank">Coho Capital</a> - ($GDDY)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5d1909fa11a9570001ea18c8/1561922043505/2019Q2.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FISV, $FRRVY, $FRRVF, $TTNDY)</li>
<li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5d2fbf4e8b4dd7000199603e/1563410254409/Q2+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($KTB)</li>
<li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/5fd3b3ea-7001-4c07-8d63-f95d455af921/Q2_2019_Desert_Lion_Capital_Letter.02.pdf" target="_blank">Desert Lion Capital</a></li>
<li><a href="http://east72.com.au/wp-content/uploads/2019/07/E72-Quarterly-Report-June-2019.pdf" target="_blank">East 72 Holdings</a> - ($AFTPF, $ADS)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2019/" target="_blank">Ensemble Fund</a> - ($BR, $SBUX, $FAST, $FRC, $GOOG)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($DIS, $BORR, $STING)</li>
<li><a href="https://www.ewingmorris.com/wp-content/uploads/2019/07/Q2-2019-Letter-vFINAL.pdf" target="_blank">Ewing Morris</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2019/iso_lc_20190630.pdf" target="_blank">Fiduciary Management FMI Large Cap</a></li>
<li><a href="http://ift.tt/2lCHEK9" target="_blank">Firebird Management</a> - ($BV, $KSS)</li>
<li><a href="http://bit.ly/2IVHtCO" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q2-2019.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a> - ($ALGT, $XEC, $MKSI)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-06_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($ALGT, $XEC, $MKSI)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5d44bf055832920001fa4381/1564786438422/Greenhaven+Road+Letter+%282019+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($KKR, $APPS, $PAR, $SHSP, $ETSY, $NTDOY)</li>
<li><a href="https://www.docdroid.net/nGef9ZE/greenlightq2letter.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.08.19-Q2-Letter.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q2.pdf" target="_blank">Hayden Capital</a> - ($CMPR, $JD)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($RDN, $VST, $CALX)</li>
<li><a href="https://www.dropbox.com/s/5nuv7dwl1ciblrv/Lightsail%202Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5d46e8a04cbc950001226b6c/1564928160433/2Q19+letter.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $DAIO, $SIFY, $INS, $CTEK, $TBTC)</li>
<li><a href="https://southeasternasset.com/commentary/2q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CMCSA, $GE, $AMG, $CTL, $HCMLY\$HCMLF, $CHKGF, $CNHI, $FDX, $MAT, $CNX) - ($CBLLF, $DE)</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5d3b26b6b5cb710001c505e5/1564157623654/Maran+Partners+Fund+LP+2019+Q2+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $WLK, $BXC, $SVIN, $BH)</li>
<li><a href="https://marvistainvestments.com/wp-content/uploads/2019/07/MVIP-2Q19-Letter-FINAL.pdf" target="_blank">Mar Vista Investment Partners</a></li>
<li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5d2dd3b02daa030001a79d58/1563284400621/Massif+Capital+Second+Quarter+Letter+to+Investors.pdf" target="_blank">Massif Capital</a> - ($CBLLF, $DE)</li>
<li><a href="https://docs.wixstatic.com/ugd/f6ee8c_109a2c968fa84fa2afd22765e9af9374.pdf" target="_blank">Merion Road Capital</a> - ($IAA, $KAR, $MHH)</li>
<li><a href="https://www.brookvine.com.au/wp-content/uploads/2019Q2_Mittleman-Global-Value-Equity-Fund_Qtrly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li>
<li><a href="https://drive.google.com/file/d/13kJJaxTuFCpNSOGStboGQFTDcl6ywMQq/view" target="_blank">MPE Capital</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q2-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ROP, $DLR, $PFE) </li>
<li><a href="https://docs.wixstatic.com/ugd/ef2f99_704bd79f605041f3920f5f06d726faf1.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.A\$CRD.B, $CWGL, $NGS, $WMK, $UG, PTVCA\PTVCB, $AE, $DOX, $SCHL, $GENC)</li>
<li><a href="https://pershingsquareholdings.com/wp-content/uploads/2019/08/2019-Semiannual-Financials-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/q2-2019-investment-commentary/" target="_blank">RGA Investment Advisors</a></li>
<li><a href="https://gallery.mailchimp.com/bca5bc00638aa58b6cada7fab/files/3f913a70-cf19-4e27-8a1c-42a613be3200/Rhizome_Partners_Q2_2019_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($ADBE, $AMZN, $FIVE, $ISRG, $GOOG\$GOOGL, $FB, $AAPL, $BX, $EXAS, $MSFT, $DIS, $PANW, $TDC, $ADSK, $COG)</li>
<li><a href="https://themarketplunger.com/2019/08/10/2q-2019-letter/" target="_blank">Rockvue Capital</a> - ($EAF, $TH, $UAA)</li>
<li><a href="https://www.rvcapital.ch/wp-content/uploads/2019/08/Co-Investor_Letter_H1_2019-EN.pdf" target="_blank">RV Capital</a></li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/a676b819-a092-4246-8284-74178e0a6fa9/SIF_2019_07_19_Investor_Letter.04.pdf" target="_blank">Saber Capital Management</a> - ($FB, $WFC)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_cee76b8ab55c40bcbc31421f7759ca6f.pdf" target="_blank">Saga Partners</a> - ($TTD, $LIMAF, $FB, $TRUP, $UA)</li>
<li><a href="https://docs.wixstatic.com/ugd/de07f6_58cdbf3f06da4d9b9bfc3dfba3366371.pdf" target="_blank">Spree Capital</a> - ($CVET, $BB, $QCOM)</li>
<li><a href="https://assets.empirefinancialresearch.com/uploads/2019/07/EFD-7-1-Stanphyl-Capital-Letter-June-2019.pdf" target="_blank">Stanphyl Capital Management</a> - ($TSLA, $AVNW, $WSTL)</li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/2Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $BSTC, $ELMD)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5d1b720139ab94000119388b/1562079747536/Tollymore+letter+June+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($BID)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5d2cb4770f60db0001b4a56c/1563210872722/Upslope+-+2019Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FLIR, $HGV, $COKE, $PACK)</li>
<li><a href="http://www.vltavafund.com/data/dopisy/dopis_56_en.pdf" target="_blank">Vltava Fund</a> - ($AN)</li>
<li><a href="https://docs.wixstatic.com/ugd/5bfe4b_d88728c47e5442b9aa1f1d731c89ef5b.pdf" target="_blank">Wedgewood Partners</a> - ($ALC, $BRK.B, $SCHW, $CTSH, $EA, $MSI, $ODFL)</li>
<li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1570807813238" target="_blank">Weitz Value Fund</a></li>
</ul>
</div>
<br />
<span style="font-size: large;">1st Quarter 2019</span><br />
<br />
<div>
<ul>
<li><a href="https://gallery.mailchimp.com/b5aa12c5c889b46c0f8288f6d/files/a791ca4e-e5b2-4a25-b606-0d1d6c95f384/Alluvial_Capital_Management_Q1_2019_Letter_to_Partners_04.22.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $APTL, $IEHC, $HICKA)</li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7b8f29e3a8d0001860027/1556592883034/Q1+2019+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL - $PAYS, $JYNT, $RMBL, $STKS). <a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7baa5eb39310fecbc7bdf/1556593318315/Alta+Fox+STKS+Long+4.28.19.pdf" target="_blank">Full Pitch</a> on $STKS)</li>
<li><a href="https://www.dropbox.com/s/rax170rmix70bir/Andvari-2019q1-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($UPLD, $TLRA, $WDAY, $V, $MA, $TYL, $MKL)</li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/05/2019-APPLX-semi-annual-letter.pdf" target="_blank">Appleseed Fund</a> - ($SKM, $ERJ)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($AXE, $KMX, $ZBRA)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/680d1b4b-376f-4a4a-9324-af9ff3abe4dd/Arquitos_Investor_Letter_Q1_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2019-partner-letter-wy9TLMel" target="_blank">Artko Capital</a> - ($REPH, $NRCGW, $GAIA, $EEI, $LEAF)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%203.31.19.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $SSNC, $IRDM, $ANSS, $NEOG)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $H, $IRDM, $GWRE, $TSLA, $BNFT, $CHH)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%203.31.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($TTD, $TDG, $FND, $GWRE, $HUD, $OEC, $PRTY, $BJRI, $CCC, $OSW, $CCX.U)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAM, $SSTK,$VRNT, $MIK, $QUOT, $MG, $BV)</li>
<li><a href="https://bluehawkinvestors.com/q1-2019-investor-letter/" target="_blank">Bluehawk Investors</a> - ($MTCH, $FND)</li>
<li><a href="https://www.biremecapital.com/blog/fundamental-value-1q19-quarterly-letter" target="_blank">Bireme Capital</a> - ($AAPL, $BKNG)</li>
<li><a href="https://browncapital.com/system/files/scf1q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li>
<li><a href="https://browncapital.com/system/files/mcf1q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li>
<li><a href="https://browncapital.com/system/files/ief1q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf1q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/05/2019-Q1-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $USX)</li>
<li><a href="https://drive.google.com/file/d/1YUpNRWvSGBBLMymAbEXUoOCqFON2ENEJ/view">Compound Everyday Capital</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ca171d41905f4c611b9202c/1554084308682/2019Q1letter.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SHMZF, $APH, $FRRVY, $FRRVF, $DHR, BAM, $SAPIF)</li>
<li><a href="https://www.nsx.com.au/ftp/news/021736732.PDF" target="_blank">East 72 Holdings</a> - ($ING, $MKL, $Y)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2019/" target="_blank">Ensemble Fund</a> - ($LSTR, $GOOG, $GOOGL)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($BDRBF, $KRA)</li>
<li><a href="https://t.co/YPShTxBhfj" target="_blank">Ewing Morris</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-2019-q1.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-03.pdf?sfvrsn=6" target="_blank">FPA Capital Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5cc366e74442bb0001c72482/1556309735923/Greenhaven+Letter+%282019+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $APPS, $KKR, $ETSY, $SHSP, $BOX, $EVI, $FCAU, $CSSE)</li>
<li><a href="https://www.docdroid.net/H7KPSVZ/greenlight-capital-q1-2019.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.05.23-Q1-Letter-Building-Gamma.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-1Q19-Report.pdf" target="_blank">Harding Loevner Global Small Cap Equities</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-1Q19-Report.pdf" target="_blank">Harding Loevner Global Equities</a> - ($KHC, $NSRGY, $LYFT, $WBC, $VRTX)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($BRY, $ARAY, $NWPX, $CCS, $FSLR)</li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q1.pdf?utm_source=Hayden+Capital&utm_campaign=fc6ae8918e-EMAIL_CAMPAIGN_2019_05_12&utm_medium=email&utm_term=0_aae4c81ce6-fc6ae8918e-103558831" target="_blank">Hayden Capital</a> - ($SE, $ZLPSF)</li>
<li><a href="http://www.horancm.com/sites/default/files/users/horancm/Portfolio%20Activity%201Q2019.pdf" target="_blank">Horan Capital Management</a> - ($MTN, $ATVI, $BKNG, $AAPL, $THO, $TCEHY, $GOOG, $FB)</li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($K, $PEP, $NFLX, $AMZN, $TPL)</li>
<li><a href="https://jdpcap.com/wp-content/uploads/2019/05/1Q-2019-Presentation-.pdf" target="_blank">JDP Capital Management</a> - ($XPO, $TK, $SPOT)</li>
<li><a href="https://www.docdroid.net/3VOAy5K/laughing-water-capital-q1-2019.pdf" target="_blank">Laughing Water Capital</a></li>
<li><a href="https://www.dropbox.com/s/1brj1hqavl9r08n/Lightsail%201Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a> - ($DRTTF)</li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5caf96756e9a7f50f6f03ec5/1555011190189/1Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $EVI, $CTEK)</li>
<li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/1Q19-Longleaf-Partners-Commentary.pdf" target="_blank">Longleaf Partners Fund</a> - ($GE, $MAT, $WYNN, $CTL, $HCMLY, $CHKGF)</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5cbdecde53450adb9a30dde5/1555950815790/Maran+Partners+Fund+LP+2019+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5cb5d9ccf9619acd0cf39f4e/1555421645754/Massif+Capital+First+Qtr+2019+Letter+to+Investors.pdf" target="_blank">Massif Capital</a></li>
<li><a href="https://docs.wixstatic.com/ugd/f6ee8c_b0cee1afd831423facf7f964eeada115.pdf" target="_blank">Merion Road Capital</a> - ($FCPT, $SLGG)</li>
<li><a href="https://www.docdroid.net/ostq4If/2019-q1-midwood-q1-2019-investor-letter.pdf" target="_blank">Midwood Capital Partners</a> - ($NXST, $DRTTF, $RCM, $LMB, $REPH)</li>
<li><a href="https://millervalue.com/bill-miller-1q-2019-market-letter/?dtr" target="_blank">Miller Value Partners</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q1-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($HD)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0319.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://assets.pershingsquareholdings.com/2019/05/17082807/Pershing-Square-Holdings-Ltd.-Q1-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a> - ($ADP, $QSR, $LOW, $SBUX, $HLT, $UTX, $HHC, $FNMA, $FMCC)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/q12019-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($GRUB)</li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/24185410-368c-44bd-a930-4a9d92e88bf9/SIF_2019_04_20_Investor_Letter.pdf" target="_blank">Saber Capital Management</a> - ($AAPL. $FB, $TCEHY)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_28dd8002fdf344a382a093d989c5b0f5.pdf" target="_blank">Saga Partners</a> - ($TRUP)</li>
<li><a href="https://docs.wixstatic.com/ugd/de07f6_21e9c90b285a4116ae4312cc1bb1bdbd.pdf" target="_blank">Spree Capital</a> - ($ROKU, $FTDR, $EBAY, $ALRM, $ZAYO)</li>
<li><a href="https://www.docdroid.net/QBav0xn/summers-value-partners-1q19-investor-letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $CVET, $SLGD, $ELAN, $KHTRF)</li>
<li><a href="https://mailchi.mp/ltfunds/templeton-and-phillips-investment-commentary-1q19-india" target="_blank">Templeton and Phillips Capital Management</a> - ($FFXDF, $HDB)</li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5cdd1d38e79c70fa76c315b2/1557994809354/Tollymore+letter+May+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRIP, $SE)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAREX-1Q19-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($INTU.L, $NWHM, $JBGS)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/04/TASCX-1Q19-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($AGX)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAVFX-1Q19-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCC, $TDW, $EXP, $MHK)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5cb8894071c10b5b67e05353/1555597643395/Upslope+-+2019Q1+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($ATR, $YETI, $BLD)</li>
<li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global Growth</a></li>
<li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1557519727747" target="_blank">Weitz Investment</a><span id="goog_1812407177"></span><a href="https://www.blogger.com/"></a><span id="goog_1812407178"></span> - <a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/Analyst%20Corner_CarMax.pdf?1557519727747" target="_blank">An Introduction to CarMax, Inc.</a> - $KMX</li>
</ul>
</div>
<br />
<br />
<span style="font-size: large;">4th Quarter 2018</span><br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5c509321f950b7176a5db508/1548784418298/Q4+2018+Alta+Fox+Capital+Quarterly+Letter+Final.docx.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL)</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2019/01/Alluvial_Capital_Management_Q4_2018_Letter_to_Partners_01.24.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $MMAC, $RAMPF, $AMNF)</li>
<li><a href="https://www.dropbox.com/s/53g8vs2pt3cpv4o/Andvari-2018q4-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MA, $TYL)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/" target="_blank">Ariel Funds</a> - ($ATGE, $AMG, $KN)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/9d0f05b1-9864-4bfe-84ff-d97cd237714e/Arquitos_Investor_Letter_Q4_2018.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li>
<li><a href="https://www.hvst.com/posts/artko-capital-4q-2018-partner-letter-wnLTNPM6" target="_blank">Artko Capital</a> - ($JYNT, $SMED, $AFCN, $USAT, $PRIXQ, $SPAR)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%2012.31.18_3.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_12_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($HRC, $TRS, $CLH, $SSTK, $CMP, $CTLT, $EPAY, $MEDP, $ELY, $MIK, $MG, $SRCL)</li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/02/2018-Q4-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $DEST, $UA, $CMG)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5c2ca3e0aa4a995f08caea24/1546429409931/FY2018.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($BAM, $PTC, $SIRI, $PYPL, $HEI)</li>
<li><a href="http://east72.com.au/wp-content/uploads/2019/01/E72-Quarterly-Report-Dec-2018.pdf" target="_blank">East 72 Holdings</a> - ($AER, $EXXRF, $VIRT)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2018/" target="_blank">Ensemble Fund</a> - ($SCHW, $ST)</li>
<li><a href="https://www.evansandpartners.com.au/sites/default/files/InternationalFundQuarterly_December2018.pdf" target="_blank">Evans and Partners International Fund</a> - ($SKFOF, $RELX, $MMM, $GOOG, $V, $ADDYY, $AON)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/fpa-capital-fund-annual-report_03-31-19_web-ready.pdf?sfvrsn=4" target="_blank">FPA Capital Fund - Annual Report</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/crescent-fund-annual-report-web-ready-(12-31-18).pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2018.pdf" target="_blank">Fundsmith Equity Funds</a> - ($PM, $FB, $SBUX, $MSFT) - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li>
<li><a href="http://www.goodwoodfunds.com/wp-content/uploads/Goodwood-Annual-Report-2018.pdf" target="_blank">Goodwood Funds</a> - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5c4bc50842bfc120277fb927/1548469513395/Greenhaven+2018+Q4+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $KKR, $YELP, $BOX)</li>
<li><a href="https://drive.google.com/file/d/1W8cHASX6-hodil8f2KsnZdbWwkERXCjw/view" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.01.15-Q4-2018-Letter-vFinal.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q4.pdf" target="_blank">Hayden Capital</a> - ($MPNGF, $CVNA, $JD)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS, $NWPX, $ARAY)</li>
<li><a href="https://static1.squarespace.com/static/59a07c7b7131a5b68981e4d5/t/5cc7c1aaf56535000156ba28/1556595115918/Lightsail+2Q+2018+Letter.pdf" target="_blank">Lightsail Capital management</a> - ($DRTTF)</li>
<li><a href="https://www.valuewalk.com/2019/02/mittleman-brothers-4q18-clear-media/" target="_blank">Mittleman Brothers</a></li>
<li><a href="https://drive.google.com/file/d/1TmrJPz9OlvLmGBSiADH7ggUOs544pllr/view" target="_blank">MPE Capital</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/01/Nelson-Roberts-2018-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ZTS)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_1218.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/2018-year-end-investment-commentary-easy-come-easy-go/" target="_blank">RGA Investment Advisors</a> - ($ROKU, $CGNX)</li>
<li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/Co-Investor_Letter_2018-EN.pdf" target="_blank">RV Capital</a></li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_ae6d4d06c60344d8b7971326501d9b65.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LGIH, $FB)</li>
<li><a href="https://drive.google.com/file/d/1YKnOvM33MFTIEO_rnU9ZmOBQczTSqLd0/view" target="_blank">Sebids Capital</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAREX-4Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($DLN.L, $WY, $ZION, $PNC Warrants)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/01/TASCX-4Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CUBI, $MYRG, $ATNI)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAVFX-4Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($DWDP, $DDAIF, $ANFGF)</li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5c3cb0b540ec9ab9b9fd10f0/1547481270127/Tollymore+letter+December+2018.pdf" target="_blank">Tollymore Investment Partners</a> - ($UHAL, $GYM.LN, $ITEGY, $TRIP, $TRUP)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5c38b8cb4fa51a28ba9f70a0/1547221197096/Upslope+-+2018Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($EVR, $BLD, $JE.LN, $DLTR, $KWR, $YETI, $MKTX, $TSLA)</li>
<li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global</a></li>
<li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/4Q18_Value%20Matters.pdf?1557519727747" target="_blank">Weitz Investment</a></li>
<li><a href="http://wiedowercapital.com/files/Letter2018.pdf" target="_blank">Wiedower Capital</a> - ($TRUP, $JD, $ISDR)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/33abc1df-abe9-49a8-aef3-cc6058c2948d/WOSF_Partner_Letter_January_22_2019.pdf" target="_blank">Willow Oak Select Fund</a> - ($BEL)</li>
</ul>
<br />
<br />
<div>
<span style="font-size: large;">3rd Quarter 2018</span></div>
<br />
<div style="font-family: "times new roman"; margin: 0px;">
<div style="font-family: "Times New Roman";">
<ul style="font-family: "Times New Roman";">
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5bc79a54eef1a1e334de4634/1539807830450/Q3+2018+Alta+Fox+Capital+Quarterly+Letter+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($XPEL, $TPNL, $UWN)</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q3-2018-Letter-to-Partners-10.29.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $OTEL, $MMAC, $CTRA, $BXC, $RAMPF)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-3q-2018-partner-letter-X34TP2Oe" target="_blank">Artko Capital</a> - ($TWNKW, $RSSS)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Quarterly%20Report%209.30.18_0.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $SSTK, $MIK, $PLOW, $GNTX, $OI, $APAM, $QUOT)</li>
<li><a href="https://choice-equities.com/wp-content/uploads/2018/11/2018-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($LAWS, $BECN, $BXC, $YELP, $DEST)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5bb318fa15fcc0a9cd511971/1538463995185/2018Q3.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FTV, $FERGY, $CCF, $ROP, $FRC, $AMADY, $CMCSA, $SIRI, $AON)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2018/" target="_blank">Ensemble Fund</a> - ($TRUP, $BKNG)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5be1e3a60e2e72c05e5cdd4b/1541530534947/Greenhaven+Road+-+2018+Q3+Final_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $TRIP, $YELP, $EVI, $BOX)</li>
<li><a href="https://www.docdroid.net/MfMnIs3/greenlight-capital-q3-2018.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.10.10-Q3-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TRIP, $TI)</li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q3.pdf" target="_blank">Hayden Capital</a> - ($MKL, $JD)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TLRY, $BRY, $SRCI, $AXAS, $CCS)</li>
<li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/3Q18-Longleaf-Partners-Funds-Shareholder-Letter.pdf" target="_blank">Longleaf Partners Fund</a> - ($CTL, $BEL, $OCINF)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0918.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Focus%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Global%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/International%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/U.S.%20Small%20Company%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/q32018-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($PYPL, $WBA)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_890d215dee47497ba91e2a46ad7aa95a.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAREX-3Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($BKG.L, $JBGS, $CHKGF)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/11/TASCX-3Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $ASIX, $MYRG)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAVFX-3Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($TDW, $CHKGF, $BZZFF, $DB)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5bc894958165f5a62a1e5c6a/1539871893976/Upslope+-+2018Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($CWH, $TSLA, $MKTX)</li>
</ul>
</div>
</div>
<div style="font-family: "times new roman"; margin: 0px;">
<br /></div>
<br />
<span style="font-size: large;">2nd Quarter 2018</span><br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5b57bd2988251bd8777d5ee0/1532476738546/Q2+2018+Alta+Fox+Capital+Quarterly+Letter.docx.pdf" target="_blank">Alta Fox Capital Management</a> - (T$PNL, $XPLT)</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q2-2018-Letter-to-Partners-7.20.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $SCOO, $NUVR, $MMAC)</li>
<li><a href="https://www.dropbox.com/s/ga6p199nuv30j9i/Andvari-2018q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($TTD, $APPN, $TCEHY, $MKTX, $GOOG)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAKE, $TISI, $TGNA)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-2q-2018-partner-letter-wARTJpDv" target="_blank">Artko Capital</a> - ($EEI, $ROSEW/ROSEU, $WFCF, $FRD)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%206.30.18_0.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_6_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $KN, $OI, $APAM, $CNK, $PLOW, $MIK, $CSOD, $EXLS)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/464760b7-cb8c-4974-98ae-c9ff09e5f2c8/0718_BCM_Partner_Letter_Q2_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($KT)</li>
<li><a href="https://choice-equities.com/wp-content/uploads/2018/08/2018-Q2-CEF-Investor-Letter_WEBSITE-PDF.pdf" target="_blank">Choice Equities Fund</a> - ($CMG, $REED, $BECN)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5b38349e2b6a280422fa91ba/1530410142957/2018Q2.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SAPIF, $TTNDY, $MKSI, $CMCSA, $PNR, $CIGI, $BAX, $SPGI)</li>
<li><a href="http://east72.com.au/wp-content/uploads/2018/07/E72-Quarterly-Report-June-2018.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $UCPLF, $ELFIF)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2018/" target="_blank">Ensemble Fund</a> - ($LB, $PBH)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q2-letter_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li>
<li><a href="https://gatorcapital.com/wp-content/uploads/2018/07/20180723-GFP-2018-Q2-Letter.pdf" target="_blank">Gator Capital Management</a> - ($AMP)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5b5b790daa4a9904b4e75eb0/1532721421547/Greenhaven+%282018+Q2%29_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $YELP, $CSSE)</li>
<li><a href="https://www.docdroid.net/xz9WkeV/greenlight-capital-q2-2018-letter.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.07.18-Q2-2018-Letter-v2.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TI)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS)</li>
<li><a href="https://www.docdroid.net/KyxH0f8/laughing-water-capital-h118.pdf" target="_blank">Laughing Water Capital</a> - ($EZPW, $FCAU, $CDMO, $CWH, $RMNI/$RMNIW)</li>
<li><a href="https://www.docdroid.net/PctUQHa/maran-partners-fund-lp-2018-2q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $LOV)</li>
<li><a href="https://drive.google.com/file/d/1n2UY-hQd8QEPzidhsQFL2lyeBngGsdPw/view" target="_blank">MPE Capital</a></li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0618.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Focus-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Global-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/International-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/US-Small-Company-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2018/08/Q2-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($EQIX)</li>
<li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2018/07/Co-Investor_Letter_H1_2018-EN.pdf" target="_blank">RV Capital</a> - (AddLife, PSG Group)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_6b3f18269c334631a75ac584d4276af6.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAREX-2Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FPH, $LEN)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/07/TASCX-2Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $SAFM)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAVFX-2Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCTPF, $KKWFF, $BCAUY, $HA</li>
<li><a href="http://wiedowercapital.com/files/Letter1H18.pdf" target="_blank">Wiedower Capital</a> - ($JD)</li>
</ul>
<br />
<div>
<br />
<span style="font-size: large;">1st Quarter 2018</span><br />
<br />
<ul>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q1-2018-Letter-to-Partners-4.23.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $OTEL, $LICT, $MMAC $BXC)</li>
<li><a href="https://www.docdroid.net/90TaM6T/arquitos-investor-letter-q1-2018.pdf" target="_blank">Arquitos Capital Management</a> - ($SYTE, $WEDXF)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-1q-2018-partner-letter-wPZT33Kb" target="_blank">Artko Capital</a> - ($HTM, $GAIA, $HDSN, $SKY)</li>
<li><a href="https://doc.morningstar.com/Document/a444b3ab802f4a0c076025c4dee1cd5a.msdoc/original?clientid=globaldocuments&key=52dbc583e1012395" target="_blank">Ariel Funds</a> - ($KEYS, $MHK, $OAK)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $ELY, $EPAY, $CMP, $MIK, $MG)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2249ec23-e80d-46a8-9f65-846264852383/0418__BCM_Partner_Letter_Q1_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TI, $TOO)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ada7a78575d1f52aa6e679d/1524267640733/2018Q1.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SPGI, $CME, $CMCSA, $SPB)</li>
<li><a href="https://www.docdroid.net/S613L8e/1q-2018-dane-investor-letter.pdf" target="_blank">Dane Capital Management</a> - ($DSKE, $IEA, $LAZY, $LMB, $YTRA, $EVI)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2018/" target="_blank">Ensemble Fund</a> - ($NFLX, $DNOW)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q1-letter_vfinal.pdf#page=2" target="_blank">FPA Capital Fund</a> - ($WDC, $TEN, $ALGT)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q1-2018-vfinal.pdf#page=2" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ae7bf98f950b7272142f5c2/1525137305236/Greenhaven+2018+Q1+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $BXC)</li>
<li><a href="https://www.docdroid.net/K95Fju3/greenlight-capital-q1-2018.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.05.11-Q1-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $RYCEY, $VIVHY)</li>
<li><a href="https://www.docdroid.net/81jd56q/laughing-water-capital-q1-2018.pdf" target="_blank">Laughing Water Capital</a> - ($BXC, $OCN, $TRC, $GHL, $ITI, $GAIA)</li>
<li><a href="https://longleafpartners.com/sites/default/files/categories/Documents/1Q18-Longleaf-Partners-Quarterly-Summary-Report-All-Funds.pdf" target="_blank">Longleaf Partners</a></li>
<li><a href="https://www.docdroid.net/eFTaTcE/maran-partners-fund-lp-2018-1q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $IAC, $ATTO)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0318.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2018/05/Q1-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($DIS, $RAMP)</li>
<li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q18.pdf" target="_blank">RiverPark Large Growth Fund</a></li>
<li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rpfvf/commentary/RiverPark_Focused_Value_1Q18_SH_Letter.pdf" target="_blank">RiverPark Focused Value Fund</a></li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_64caf8ca6a264972923df8b202415b9a.pdf" target="_blank">Saga Partners</a> - ($ESI, $LILAK)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAREX-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($AKR, $SRG)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TASCX-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($FRPH, $WEDXF. $SMHI)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAVFX-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BDRLF, $KKWFF, $BMWYY)</li>
<li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2018/04/VVP-Quarterly-Commentary-18.03.31.pdf" target="_blank">Vulcan Value Partners</a></li>
</ul>
</div>
Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-8511220737844688552.post-23883005291540192432020-04-12T13:18:00.001-04:002020-04-18T11:30:35.661-04:00<h2>
<span style="font-size: x-large;">Fund Management Letters</span></h2>
<span style="font-size: medium;"><br /></span><span style="font-size: medium;">Just reposting with new letters. Have fun reading.</span><br />
<hr />
<span style="font-size: large;">1st Quarter 2020</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"></span><br />
<ul>
<li><hr />
<br />
<br />
<ul>
<li><a href="https://www.akrefund.com/wp-content/uploads/2020/04/Akre-Focus-Fund-Quarterly-Commentary-2020-Q1.pdf">Akre Focus Fund</a></li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2020-q1.pdf">Alphyn Capital Management</a></li>
<li><a href="https://drive.google.com/file/d/1y1uNGXNScAjx27rcd6yZf_U6GFWLtmVd/view">Andaz Private Investments</a></li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2020/02/APPLX-Q4-2019-Letter.pdf">Appleseed Fund</a> - ($HRTX, $NLY).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTKX-APDKX-APHKX-QCommentary-1Q20-vR.pdf">Artisan International Value Fund</a> - ($BABA, $TCOM, $SLB, $TS, $SU, $SNE, $DANOY, $CNHI).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2020/1q/ARTMX-APDMX-APHMX-QCommentary-1Q20-vR.pdf">Artisan Mid Cap Fund</a></li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/04/Coronavirus-The-Cure-Is-Worse-Than-The-Disease.pdf">Askeladden Capital</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Asset-Fund-Letter-3.31.20.pdf">Baron Asset Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Discovery-Fund-Letter-3.31.20.pdf" target="_blank">Baron Discovery Fund</a> - ($INGN, $QLYS, $FND, $SIEN, $PAR, $TXMD, $EVBG, $KTOS, $PENN, $AXNX).</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Growth-Fund-Letter-3.31.20.pdf" target="_blank">Baron Growth Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron-Health-Care-Fund-Letter-3.31.20.pdf" target="_blank">Baron Health Care Fund</a></li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/04/Investor-Letter-Q1-20-FINAL.pdf">Blue Hawk Investment Group</a> - ($MSFT, $MTCH, $NFLX, $EA, $INTU, $ISRG, $V, $FB, $CHTR, $FND, $STZ, $NYT, $SPLK, $LULU).</li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e93edd2125a911e469ed339/1586752979541/2020+Q1.pdf">Blue Tower Asset Management</a></li>
<li><a href="https://cedcapital.in/wp-content/uploads/2020/04/Quarterly-PMS-Letter-Mar20-Extracts.pdf" target="_blank">Compound Everyday Capital</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e85354c10a8a95136c22668/1585788237400/Q12020.pdf">Comus Investments</a></li>
<li><a href="https://www.crescat.net/wp-content/uploads/Q1-2020.pdf" target="_blank">Crestcat Capital</a></li>
<li><a href="https://mcusercontent.com/2b965ce88104d672785279e80/files/ecf4cd6f-3eb2-4b0c-8efb-1f9d281cfd7f/2020_Q1_Investor_Letter_Desert_Lion_Capital_non_LPs.pdf">Desert Lion Capital</a></li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2020/" target="_blank">Ensemble Fund</a></li>
<li><a href="https://www.blogger.com/"><span id="goog_1753379622"></span>FPA Crescent Fund</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/AllCap/Letter/2020/iso_ac_20200331.pdf">FMI All Cap Equity</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/International/Letter/2020/iso_in_20200331.pdf">FMI International Equity</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2020/iso_lc_20200331.pdf">FMI Large Cap Equity</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/SmallCap/Letter/2020/iso_sc_20200331.pdf">FMI Small Cap Equity</a></li>
<li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/2020-3-fef-letter-to-shareholders.pdf?sfvrsn=12">Fundsmith Equity Fund</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner Global Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2020/1Q20-Report.pdf" target="_blank">Harding Loevner International Equity</a></li>
<li></li>
<li><a href="http://m.heartlandadvisors.com/mid-cap-value-fund-q1-commentary.pdf" target="_blank">Heartland Mid Cap Value Fund</a></li>
<li><a href="http://m.heartlandadvisors.com/select-value-fund-q1-commentary.pdf" target="_blank">Heartland Select Value Fund</a></li>
<li><a href="http://m.heartlandadvisors.com/value-fund-q1-commentary.pdf" target="_blank">Heartland Value Fund</a></li>
<li><a href="http://m.heartlandadvisors.com/value-plus-fund-q1-commentary.pdf" target="_blank">Heartland Value Plus Fund</a></li>
<li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-1Q20.pdf" target="_blank">Horos Asset Management</a> - ($TGP, $TK, $GLNG, $AER, $NPSNY).</li>
<li><a href="https://jdpcap.com/wp-content/uploads/2020/02/2019-Annual-Letter-JDP-Capital-Management.pdf">JDP Capital</a> - ($SPOT, $STNE, $XPO)</li>
<li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/ltglobal-equity-fund/LTGEF_Latest.pdf">Lindsell Train</a></li>
<li><a href="https://www.lrtcapital.com/wp-content/uploads/2020/04/2020-03-March-Performance-Update-Public.pdf">LRT Capital</a></li>
<li><a href="https://southeasternasset.com/commentary/1q20-llpf-commentary/">Longleaf Partners Fund</a></li>
<li><a href="https://southeasternasset.com/commentary/1q20-llgl-commentary/">Longleaf Partners Global Fund</a></li>
<li><a href="https://southeasternasset.com/commentary/1q20-llin-commentary/">Longleaf Partners International Fund</a></li>
<li><a href="https://southeasternasset.com/commentary/1q20-llsc-commentary/">Longleaf Partners Small-Cap Fund</a></li>
<li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20First%20Quarter%20Letter%20to%20Investors.pdf?utm_source=hs_email&utm_medium=email&utm_content=86138479&_hsenc=p2ANqtz-85M_ZqQO42g6PDwSL7bISxrDZM6OIQj5JzJ9uWzZx5Pf0pU87NtPhlX2MKkKLQ0F5775rJ5yF6-0W92JiA-wFdmFYs5g&_hsmi=86138479">Massif Capital</a></li>
<li><a href="https://www.mawer.com/assets/Newsletters/1Q20-Quarterly-Series-A-Net-1.pdf">Mawer Mutual Funds</a></li>
<li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_b57612e6cdaa48429a600bdfe37560c4.pdf">Merion Road Capital</a></li>
<li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2020_03.pdf">Moneta Long Short A</a></li>
<li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2020_03.pdf">Moneta MultiCaps C</a></li>
<li><a href="https://oakmark.com/news-insights/oakmark-fund-first-quarter-2020/">Oakmark Fund</a> - ($AXP, $MTCH, $PINS, $WDAY)</li>
<li><a href="https://oakmark.com/news-insights/oakmark-select-fund-first-quarter-2020/">Oakmark Select Fund</a></li>
<li><a href="https://oakmark.com/news-insights/oakmark-global-fund-first-quarter-2020/">Oakmark Global Fund</a></li>
<li><a href="https://www.osam.com/pdfs/research/OSAM%20Update_Blizzard,%20Winter,%20or%20Ice%20Age_FINAL.pdf">O’Shaughnessy Asset Management</a></li>
<li><a href="https://www.palmvalleycapital.com/fundletter">Palm Valley Capital Fund</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ABT, $BKNG, $FB, $ORLY, $ADSK, $REGN).</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-1Q2020.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q20.pdf">RiverPark Large Growth Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT).</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_1Q20.pdf">RiverPark Long/Short Opportunity Fund</a> - ($SNAP, $PINS, $UBER, $SHOP, $BILL, $DXCM, $RNG, $LMT, $COST, $APO, $KKR)</li>
<li><a href="https://www.ruanecunniff.com/Download.aspx?ID=ee82efca-a8be-4855-b3e0-e3ba3069a318&Name=Q1_2020_-_Investor_Letter">Sequoia Fund</a></li>
<li><a href="https://smeadcap.com/files/7915/8696/1388/1Q_2020_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li>
<li><a href="https://stjic.com/wp-content/uploads/2020/04/STJIC-Adviser-Letter-2020-Q1.pdf">St. James Investment Company</a></li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/1Q20-Investor-Letter-.pdf" target="_blank">Summers Value Fund</a></li>
<li><a href="https://static1.squarespace.com/static/54ce2abfe4b0513e12ea592f/t/5e886ec613e1233cd43c8cae/1585999558895/Templeton+and+Phillips+Commentary+-+March+2020.pdf">Templeton and Phillips Capital Management</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAREX-Shareholder-Letter.pdf">Third Avenue Real Estate Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TASCX-Shareholder-Letter.pdf">Third Avenue Small-Cap Value Fund</a> - ($CALM, $CET, $BATRA, $BATRK).</li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/04/2020-Q1-TAVFX-Shareholder-Letter-Web.pdf">Third Avenue Value Fund</a> - ($BMWYY, $DB, $IFSPF, $HA, $ORI, $FDX, $VNO)</li>
<li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/04/Third-Point-Q1-2020-Investor-Letter-TPOI-1.pdf" target="_blank">Third Point</a></li>
<li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2020-Q1.pdf">Turtle Creek Equity Fund</a></li>
<li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q1%202020%20-%20Final.pdf">Tweedy, Browne Funds</a></li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e99e67f7f671d105bf293af/1587144320124/Upslope+-+2020Q1+Letter.pdf" target="_blank">Upslope Capital Management</a></li>
<li><a href="https://www.docdroid.net/q7NxMcX/universa-investments-q1-2020-letter-pdf#page=6">Universa Investments</a></li>
<li><a href="https://mcusercontent.com/2686100c548ffa2b413d5cb29/files/3cb819ec-c2d9-4ff5-870b-cc86b4d93fbd/Vltava_Fund_Letter_to_Shareholders_Q1_2020.pdf">Vltava Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Core Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q1-2020-FNL.pdf">Wasatch Micro Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q1-2020-FNL.pdf">Wasatch Small Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q1-2020-FNL.pdf">Wasatch Ultra Growth Fund</a></li>
<li><a href="https://www.asx.com.au/asxpdf/20200406/pdf/44gqxsc6q8zjdy.pdf">WCM Global Growth</a></li>
<li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_7f47cdae028142f1ade840f42986ab09.pdf">Wedgewood Partners</a> - ($FAST, $FB, $KEYS, $MSFT, $ROSS, $NVDA, $EA, $BKNG, $EW).</li>
<li><a href="https://www.whitebrookcapital.com/1q2020-commentary" target="_blank">White Brook Capital</a></li>
</ul>
<div>
<br /></div>
</li>
</ul>
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">4th Quarter 2019</span><br />
<br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5e35af9e12c5156ca6085326/1580576670740/Q4%2719+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($ISDR, $RICK, $TSSI, $DPZ)</li>
<li><a href="https://drive.google.com/file/d/1ANcyf36aA9H83xfjYF3N5Z6Rc2YaS75q/view" target="_blank">2Point2 Capital</a></li>
<li><a href="https://gallery.mailchimp.com/f6660ee7c7b25c0643c0e8337/files/53f90575-0084-456e-b563-3e47282ae860/Admiral_Cap_4Q19_Letter.pdf">Admiral Capital Partners Fund</a> - ($CVNA, $GDDY, $GTT).</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2020/01/Alluvial-Capital-Management-Q4-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $CRAWA, $BUKS, $NUVR, $LICT)</li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5e3633d4cd5a0d4354e18334/1580610521595/Q4+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a></li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q4.pdf" target="_blank">Alphyn Capital Management</a></li>
<li><a href="https://drive.google.com/file/d/1OSNsquPrryvmnAYEPpfK8VMGtb5qSILE/view" target="_blank">Andaz Private Investments</a></li>
<li><a href="https://ift.tt/2TwwgOx" target="_blank">Andvari Associates</a></li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($ARDX, $SAVE, $MOS, $SINA, $SNE, $RYAAY).</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Funds</a> - ($CCL, $NLSN).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/APFDX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTMX-APDMX-APHMX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($SWKS, $TW, $CMS, $UA, $ABMD, $ZS, $BURL, $AMD, $ANET, $SERV, $DXCM).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTSX-APDSX-APHSX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTLX-APDLX-APHLX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Value Fund</a></li>
<li><a href="https://www.hvst.com/posts/artko-capital-4q-2019-partner-letter-w57TvkLz" target="_blank">Artko Capital</a> - ($MO, $REPH, $GAIA, $RSSS)</li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/02/2020-02-17-Askeladden-Capital-Q4-2019-Letter-Breaking-Bad.pdf">Askeladden Capital</a></li>
<li><a href="https://content.rwbaird.com/RWB/Content/PDF/AssetManagement/Q3-2019-Mid-Cap-Growth-Mutual-Fund-Commentary.pdf">Baird MidCap Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Asset Fund</a> - ($DXCM, $SAGE).</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Focused Growth</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Growth Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Discovery Fund</a> - ($PGNY, $ESPR, $SIEN, $SITE, $ICHR, $TXMD, $MRCY, $FSCT, $TCMD, $SCPPF, $OLLI, $BRP, $CDNA).</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%2012.31.19_0.pdf" target="_blank">Baron Partners Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Small Cap Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Real%20Estate%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Real Estate Fund</a></li>
<li><a href="http://www.bernzott.com/uploads/1/5/9/5/15953620/2019_12_31_bca_scv_marketcomm.pdf?utm_source=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $PLOW, $LOGM, $MG, $MIK, $CNK, $CTLT, $EPAM, $AGS).</li>
<li><a href="https://s3.amazonaws.com/bireme/4Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a> - ($KRG, $DNKN)</li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/01/Q4-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a></li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e2e81226ba9076709046053/1580106019545/2019+Q4.pdf" target="_blank">Blue Tower Asset Management</a></li>
<li><a href="http://boyarvaluegroup.com/bvg-pdf/4Q_2019_BoyarResearch.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=82628381&_hsenc=p2ANqtz-_eFJS4AvVpyZPJ93cqx7hT_a3Ecgy_iQ8I_KJWvq6pyI5hY8KWOrRF3lJXq2wgq7vsVrrVKm3ExXWqv88qtB2prmxWqg&_hsmi=82628381" target="_blank">Boyar Group</a></li>
<li><a href="https://browncapital.com/system/files/mcf4q19commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li>
<li><a href="https://browncapital.com/system/files/scf4q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($VEEV, $GKOS, $TNDM, $SMAR).</li>
<li><a href="https://browncapital.com/system/files/ief4q19commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf4q19commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li>
<li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/02/The-Broyhill-Letter-2020.02-FINAL.pdf">Broyhill Asset Management</a></li>
<li><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2020/01/bumbershoot-holdings-2020-1-jan-letter-to-partners-2019-1.pdf" target="_blank">Bumbershoot Holdings</a></li>
<li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></li>
<li><a href="https://citronfund.com/wp-content/uploads/2020/01/Citron-Capital-Annual-Investor-Letter-for-2019.pdf" target="_blank">Citron Capital</a> - ($RH, $PTON).</li>
<li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2019+Q4+Letter.pdf">Coho Capital</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e181bff65c626738a349429/1578638336674/FY2019.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($YUMC, $FRRVF, $PTC)</li>
<li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5e3048cf9826d330d5c2854e/1580222671293/Q4+and+YE+2019+Letter.pdf" target="_blank">Curreen Capital</a></li>
<li><a href="https://danwang.co/2019-letter/" target="_blank">Dan Wang</a></li>
<li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a>.</li>
<li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a></li>
<li><a href="https://davisfunds.com/downloads/DIFAnnualReview.pdf" target="_blank">Davis International Fund</a></li>
<li><a href="https://davisfunds.com/downloads/DNYVFPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li>
<li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li>
<li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Midcap-Letter-4Q19.pdf" target="_blank">DF Dent Midcap Growth</a> - ($ODFL, $TWLO, $VEEV, $ANSS, $MCO, $CBRE, $VRSK, $VMC, $MKL).</li>
<li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Small-Cap-Letter-4Q19.pdf" target="_blank">DF Dent Small Cap Growth</a></li>
<li><a href="https://www.diamond-hill.com/wp-content/uploads/191231_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li>
<li><a href="https://gallery.mailchimp.com/90031b83688dd5c83d79fcf31/files/48eecab4-b7af-4d56-8e05-f3d54f33d10f/DKAM_ROE_Reporter_January_2020_.pdf" target="_blank">Donville Kent Asset Management</a></li>
<li><a href="https://www.nsx.com.au/ftp/news/021737727.PDF" target="_blank">East 72 Holdings</a></li>
<li><a href="https://gallery.mailchimp.com/dd77d6a119e511a93e9308144/files/98e445bf-1c22-4a23-8a6b-1d71d798899f/Edgebrook_Mid_Year_Letter_2019.pdf" target="_blank">Edgebrook Partners</a> - ($APEUF)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2019/" target="_blank">Ensemble Fund</a> - ($PAYX, $BR)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2019.pdf">Evermore Global Value Fund</a> - ($IAC, $MTCH, $ANGI, $STNG, $KRA, $ENZ).</li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15183252/Q4-2019-Broadview-Dark-Horse-Quarterly-Letter.pdf" target="_blank">Ewing Morris Dark Horse</a> - ($LQSIF)</li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15170401/Q4-2019-Final-1.pdf" target="_blank">Ewing Morris Opportunities Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-12_final.pdf?sfvrsn=8">FPA Capital Fund</a></li>
<li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2019.pdf?sfvrsn=6" target="_blank">Fundsmith Equity Fund</a></li>
<li><a href="http://gatorcapital.com/wp-content/uploads/2020/01/GFP-Q4-Investor-Letter-Updated.pdf" target="_blank">Gator Capital Management</a></li>
<li><a href="http://www.givernycapital.com/en/doc/236/Giverny_Capital_-_Annual_Letter_2019_web_.pdf">Giverny Capital</a></li>
<li><a href="http://www.goodhavenfunds.com/media/pdfs/2019_AR.pdf" target="_blank">GoodHaven Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5e4703048934db2c06ec56ae/1581712134756/Greenhaven+Road+Letter+%282019+Q4%29.pdf">Greenhaven Road Capital</a></li>
<li><a href="https://www.scribd.com/document/443770600/Greenlight-Q4-2019#download&from_embed" target="_blank">Greenlight Capital</a> - ($AER, $AGO, $ATC, $BHF, $CC, $GM, $GRBK, $NFLX, $DXC).</li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.01.23-Q4-Letter-v5.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-4Q19-Report.pdf">Harding Loevner Global Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2019/IE-4Q19-Report.pdf">Harding Loevner International Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2019/ISC-4Q19-Report.pdf">Harding Loevner International Small Companies Equity</a> - ($GUZOF, $ALICORC1, $PGENY).</li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-4Q19-Report.pdf">Harding Loevner Global Small Companies</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q4.pdf">Hayden Capital</a> - ($SE).</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($LEG, $EXC, $UMBF)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SCHW, $GTS, $CONE).</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TBBK, $AMRC)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($ASB, $PAHC)</li>
<li><a href="http://www.hgcinvest.com/wp-content/uploads/2020/01/HGC-Arb-Letter-December-2019.pdf" target="_blank">HGC Investment Management</a> - ($GSAC, $DEAC).</li>
<li><a href="https://www.hoisingtonmgt.com/pdf/HIM2019Q4NP.pdf">Hoisington Investment Management</a></li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q4-2019-Horizon-Kinetics-Commentary_FINAL.pdf" target="_blank">Horizon Kinetics</a></li>
<li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q19.pdf">Horos Asset Management</a></li>
<li><a href="https://www.dropbox.com/s/wj5xngs5dpjc0la/Huffman%20Prairie%20-%202H2019%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a> - ($PKE)</li>
<li><a href="https://l1international.com/wp-content/uploads/2020/01/L1-Capital-International-Fund-Quarterly-2019-12.pdf" target="_blank">L1 Capital International Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5e3b0e94a8e0ad4a457d4a5e/1580928660765/Laughing+Water+Capital+YE+2019.pdf">Laughing Water Capital</a></li>
<li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/lt-uk-fund/2019/LTUK_MR_2019_12.pdf" target="_blank">Lindsell Train</a></li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5e33310f6cac3d0b6f0a070d/1580413200079/4Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $CTEK, $SFE, $PESI)</li>
<li><a href="https://southeasternasset.com/commentary/4q19-llpf-commentary/">Longleaf Partners Fund</a></li>
<li><a href="https://www.lyricalam.com/wp-content/uploads/2020/01/LAM-2019-Review-letter.pdf" target="_blank">Lyrical Asset Management</a></li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5e323c32f8043d0750f9a1f1/1580350515744/Maran+Partners+Fund+LP+2019+Q4+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RNGR, $SDI).</li>
<li><a href="https://www.mcmadvisors.com/wp-content/uploads/2020/01/Martin-Capital-Management-2019-Annual-Report.pdf" target="_blank">Martin Capital Management</a></li>
<li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Year%20End%20Letter.pdf?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-8wWAtvLCSJ92jhQUdjS_UF5sLUTcGZPdtnlxPMJfKIFGmlgVgnj1U2Yj9GHeBoCbudkm9l" target="_blank">Massif Capital</a></li>
<li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_4b6d6eb57e724504b2acd6925fe444a6.pdf" target="_blank">Merion Road Capital</a> - ($TTWO, $ODP)</li>
<li><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf">Miller Value Fund</a> - ($FTCH, $ET, $CDEV).</li>
<li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2019_12.pdf" target="_blank">Moneta Long Short A</a></li>
<li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2019_12.pdf" target="_blank">Moneta MultiCaps C</a></li>
<li><a href="https://drive.google.com/file/d/1HXfARV-D0Ty0LjixHFdMQc9keEOyV3XN/view" target="_blank">MPE Capital</a> - ($CACC).</li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/01/2019-Nelson-Roberts-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($IBM)</li>
<li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Fourth-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a></li>
<li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_1eee8738221f439bacc164cda1472ccf.pdf">Old West Investment Management</a> - ($GOLD)</li>
<li><a href="https://www.osam.com/pdfs/research/Q4%202019%20Investor%20Letter%20-%20FINAL.pdf" target="_blank">O’Shaughnessy Asset Management</a></li>
<li><a href="https://www.palmharbourcapital.com/files/PHC%20Q4%202019%20Letter.pdf" target="_blank">Palm Harbour Capital</a></li>
<li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_7f7cfd9362f1496597164ec1ee5a1757.pdf" target="_blank">Palm Valley Capital Fund</a></li>
<li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/dab30c88-52e6-425d-94a0-2f672f543d3f/4Q19%20Parnassus%20Core%20Equity%20Fund%20Commentary.pdf">Parnassus Core Equity Fund</a></li>
<li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/fc4897bd-50cb-43fb-9296-bddb814716c6/4Q19%20Parnassus%20Mid%20Cap%20Fund%20Commentary.pdf">Parnassus Mid Cap Fund</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $CRM, $ABT, $NOW, $ORCL).</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Global Growth</a> - ($MSFT, $BABA, $ABT)</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - International Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5e66d8317891847c6cd48c38/1583798321575/RF+Capital+Q4+2019+Investor+Letter.pdf">RF Capital Management</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2020/01/2019-Year-End-Commentary_FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($ANGI, $DBX, $GRUB, $TWTR)</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($AAPL, $UNH, $BX, $MSFT, $ADSK, $SDC, $TWTR, $NOC, $TDC, $TWLO).</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_4Q19.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_4Q19_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li>
<li><a href="http://rltcapital.com/wp-content/uploads/2020/01/Dont-Cha-Know.pdf" target="_blank">RLT Capital</a></li>
<li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Fund.pdf">RMB Fund</a></li>
<li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Small-Cap-Fund.pdf">RMB Small Cap Fund</a></li>
<li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-SMID-Cap-Fund.pdf">RMB SMID Cap Fund</a></li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/aaf68a26-7a10-4c45-bfe1-fb0cb97b85d1/Saber_Investment_Fund_Q4_2019_Letter.pdf" target="_blank">Saber Capital Management</a></li>
<li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c69e35b055894d1aad827cde8423bc2f.pdf">Saga Partners</a> - ($TTD, $LIMAF, $FB, $LGIH, $VSEC, $CVNA)</li>
<li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q4-2019-web.pdf">Saturna Capital</a></li>
<li><a href="https://www.saturna.com/sites/default/files/Amana-Q4-2019-web.pdf">Saturna Capital - AmanaFunds</a></li>
<li><a href="https://www.saturna.com/sites/default/files/Sextant-Q4-2019-web.pdf">Saturna Capital - Sextant Funds</a></li>
<li><a href="https://static.fmgsuite.com/media/documents/c388840b-3dda-41da-a062-077bf785255b.pdf">Semper Augustus</a></li>
<li><a href="https://www.ruanecunniff.com/Download.aspx?ID=7a947f03-c188-49d6-b32f-9cddfe5ebb9a&Name=Q4_2019_-_Investor_Letter" target="_blank">Sequoia Fund</a></li>
<li><a href="https://gallery.mailchimp.com/57cdfc490b101d54b70128c06/files/a813a300-8f68-43cb-8b3d-2fa28aed58fb/SilverRingValuePartners_2019Q4_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li>
<li><a href="https://smeadcap.com/files/9315/7910/2122/4Q_2019_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li>
<li><a href="https://www.socialcapital.com/annual-letters/2019.pdf">Social Capital</a></li>
<li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_d91d278701ba4b21afd564ffabb36d1f.pdf" target="_blank">Spree Capital</a> - ($RST, $MTCH, $FERGY).</li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/2019-Annual-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($TARO, $EGRX, $ELMD)</li>
<li><a href="https://taovalue.files.wordpress.com/2020/02/taovalue_2019_q4_final.pdf">Tao Value</a></li>
<li><a href="https://www.langfrist.de/dokumente/2019_e_Rubicon_full.pdf" target="_blank">TGV Rubicon Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($GPOR.L, $HHC, $PSA, $VNO, $SRG, $FPH).</li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BMWYY, $DB, $MAC).</li>
<li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/01/Third-Point-Q4-2019-Letter-TPOI-Final.pdf" target="_blank">Third Point</a></li>
<li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2019-Q4.pdf" target="_blank">Turtle Creek Equity Fund</a></li>
<li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li>
<li><a href="https://mcusercontent.com/2506bda6ca9a8b7ce8b3c54b4/files/0c17bc16-6a20-4c24-8459-53e800315fe7/TARF_2019_Annual_Commentary_vFinal.pdf" target="_blank">Tyro Capital Management</a> - ($MO, $REPH, $SKY, $SMCI, $MTCH, $UBSFF, $BXC, $MYOV)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e209a872cfe3e653d0bd4bd/1579195017065/Upslope+-+2019Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FOCS, $DLTR)</li>
<li><a href="https://www.dropbox.com/s/lgqbpo4oownzo5m/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q4%202019%20%28V1.1%29.pdf?dl=0&utm_source=The+Vilas+Fund%2C+LP&utm_campaign=d48e03b6f7-4Q2019+Main&utm_medium=email&utm_term=0_d81d32d2af-d48e03b6f7-431110445" target="_blank">Vilas Fund</a></li>
<li><a href="http://www.vltavafund.com/data/dopisy/dopis_58_en.pdf" target="_blank">Vltava Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li>
<li><a href="https://www.asx.com.au/asxpdf/20200108/pdf/44d49tnm31r1hz.pdf" target="_blank">WCM Global Growth</a></li>
<li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_b41d00a2669749f4babb2c468e820ecd.pdf" target="_blank">Wedgewood Partners</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Hickory Fund</a></li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners III Opportunity Fund</a> - ($SIRI, $LSXMB, $EVREF).</li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners Value Fund</a></li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Value Fund</a></li>
<li><a href="https://whitebrookcapital.app.box.com/s/ds32xz73grnzqbxdargxzancsg91q7it" target="_blank">White Brook Capital</a></li>
<li><a href="https://gallery.mailchimp.com/d194e1b3fd218137abdb074da/files/a8558333-dad0-40c8-8abd-8468fb20e0f9/2020_01_21_WCMSF_Q4_2019_Letter.pdf" target="_blank">White Crane Capital</a></li>
<li><a href="https://www.docdroid.net/tJT1NRd/wolf-hill-2019-year-end-letter.pdf" target="_blank">Wolf Hill Capital</a> - ($CNR, $REGI, $WTSHF)</li>
<li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5e1d007471426f2f29068da4/1578958966239/Worm+Capital+2019+Year+End+Letter.pdf" target="_blank">Worm Capital</a></li>
</ul>
<br />
<br />
<span style="font-size: large;">3rd Quarter 2019</span><br />
<br />
<div>
<br />
<ul>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2019/10/Alluvial-Capital-Management-Q3-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $LICT, $NUVR, $APTL, $NORSA, $PIOE, $MHGU, $ITD.IM, $EDAC.IM, $SIO.IM)</li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q3.pdf" target="_blank">Alphyn Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5db8fdd21b54db1101ac3c18/1572404691231/Q3+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($KRMD, $KYYWF, $STKS)</li>
<li><a href="https://www.docdroid.net/I8sosdq/andaz-notes-2019-09-30.pdf" target="_blank">Andaz Private Investments</a> - (CBS.B, $VIAB)</li>
<li><a href="https://ift.tt/35Tb1KD" target="_blank">Andvari Associates</a></li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($SINA, $WB, $MOS, $SAVE, $ARDX, $SNE, $RYAAY)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/eb95b5c5-e141-4f87-b0d5-95d5e1a7a2a5/Arquitos_Investor_Letter_Q3_2019.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $WEDXF)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BX, $BWA, $DIFTY, $ZBH)</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTMX-APDMX-APHMX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($ALXN, $EXAS, $GDI, $GWRE, $CTLT, $BURL, $PAGS, $LHX, $ANET, $ASND)</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTSX-APDSX-APHSX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-3q-2019-partner-letter-EvrTnLGB" target="_blank">Artko Capital</a> - ($FTK, $LEAF, $SKY, $USAT, $EEI, $SPAR)</li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/11/2019-10-28-Askeladden-Capital-Q3-2019-Letter-Earn-It.pdf" target="_blank">Askeladden Capital</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Asset Fund</a> - ($CCC)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Focused Growth</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Growth Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Discovery Fund</a> - ($TXMD, $FND, $TREX, $MRCY, $KNSL $VRAY, $SILK, $BE, $CDNA, $TPIC, $MDLA, $PING, $WMS, $VRNS, $INGN)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Partners Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Investor%20-%20Baron%20Small%20Cap%20Fund%203Q19.pdf" target="_blank">Baron Small Cap Fund</a> - ($CDAY, $CCC, $COLD)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $SP, $PLOW, $OI, $AGS, $QUOT,$ CTLT, $EPAM, $KN, $CLDR, $AGS, $GNRC)</li>
<li><a href="https://s3.amazonaws.com/bireme/3Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $COKE)</li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/10/Q3-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($SFIX, $GRUB, $MTCH, $NFLX)<span id="goog_146329209"></span><a href="https://www.blogger.com/"></a><span id="goog_146329210"></span></li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5dad22ac218aa17443c4035b/1571627692663/2019+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2d3eecc8-c31e-45c7-8c24-e0e1a8269ac3/1019_BCM__Partner_Letter_Q3_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $CAMB.LN)</li>
<li><a href="https://browncapital.com/system/files/scf3q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($TYL, $MANH, $ABMD, $INGN)</li>
<li><a href="https://browncapital.com/system/files/mcf3q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a> - ($EW, $TYL, $ALGN, $ULTA, $MKTX, $CRL, $JBHT)</li>
<li><a href="https://browncapital.com/system/files/ief3q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a> - ($CZMWF, $ESLOY, $QGEN, $IPSEF, $MONOY)</li>
<li><a href="https://browncapital.com/system/files/iscf3q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/10/2019-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> ($RUBI, $BXC, $HOME, $QMCO)</li>
<li><a href="https://drive.google.com/file/d/1jzHBEfehpV9TfzwFhiGl91UMVtnGwWjS/view">Compound Everyday Capital</a></li>
<li><a href="https://gallery.mailchimp.com/a6cd0be2415ea775a57718587/files/14809e7f-2f16-4cb8-8fb3-8c589f63c6ed/50._Q3_2019.pdf" target="_blank">Compound Money Fund</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5db88acf71786e4ef3228683/1572375248129/2019Q3.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($IPGLF, $NVST, $A, $FRC)</li>
<li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5da0d2a16603d478b62581b4/1570820769906/Q3+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($GTX, $KTB, $MFGP, $BLD)</li>
<li><a href="https://davisfunds.com/downloads/DFFInterview.pdf" target="_blank">Davis Financial Fund</a></li>
<li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a> - ($JD, $AMAT)</li>
<li><a href="https://davisfunds.com/document/read/DNYPMComm" target="_blank">Davis New York Venture Fund</a></li>
<li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a></li>
<li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/bf83181f-b69f-4ece-a640-a4007c15ed07/Q3_2019_Investor_Letter_Desert_Lion_Capital.pdf" target="_blank">Desert Lion Capital</a></li>
<li><a href="https://www.diamond-hill.com/wp-content/uploads/190930_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li>
<li><a href="http://east72.com.au/wp-content/uploads/2019/10/E72-Quarterly-Report-Sept-2019.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $DTLA, $FFXDF, $VULC, $PICO)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2019/" target="_blank">Ensemble Fund</a> - ($MA, $TIF)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2019.pdf" target="_blank">Evermore Global Value Fund</a></li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2019/10/07164955/Quarterly-Update-Q3-2019.pdf" target="_blank">Ewing Morris</a></li>
<li><a href="https://www.fmimgt.com/fmi/funds/shrpt/ann_shrpt_093019.pdf" target="_blank">Fiduciary Management FMI Large Cap</a> - ($HDS)</li>
<li><a href="https://t.co/3lQBLZ89rY?amp=1" target="_blank">Firebird Management</a> - ($LNC, $GES)</li>
<li><a href="https://focusedcompounding.com/wp-content/uploads/2017/06/Q3_2019_Letter_to_Clients-1.pdf" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI, $TPHS, $KEWL, $MLP)</li>
<li><a href="https://www.asx.com.au/asxpdf/20191011/pdf/449dftp5k138nd.pdf" target="_blank">Forager Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2019-q3b0f6f4531b0367849d6cff0000f7084a.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-09.pdf?sfvrsn=8" target="_blank">FPA Capital Fund</a> - ($AMBA, $NBL, $DAN, $IDCC)</li>
<li><a href="http://gatorcapital.com/wp-content/uploads/2019/10/GFP-Q3-Investor-Letter.pdf" target="_blank">Gator Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5daa7eaeab96a61181bef76f/1571454639744/Greenhaven+Road+Letter+%282019+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($NTDOY, $CSSE, $KKR, $BXC, $APPS, $PAR, $SHSP, $GIGRT, $GIGWS)</li>
<li><a href="https://www.docdroid.net/hM7Tnw8/qlet2019-032.pdf" target="_blank">Greenlight Capital</a> - ($NFLX, $TSLA, $CC)</li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.11.14-Q3-Letter.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://ift.tt/34FFgn5" target="_blank">Goehring & Rozencwajg</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q3.pdf" target="_blank">Hayden Capital</a> - ($CACC)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a></li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SAFM, $MHK, $CVS)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($VST, $LNDC)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a></li>
<li><a href="https://www.docdroid.net/pCmtahr/hellerhouseopportunityfund-2019q2letter-public.pdf#page=17" target="_blank">Heller House Opportunity Fund</a> - ($SHOP $WORK $ROKU)</li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a></li>
<li><a href="https://www.dropbox.com/s/l24e3ilw0j2kkyq/Lightsail%203Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li>
<li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/investment-insights/2019/Are%20You%20Experienced%20-%20November%202019.pdf" target="_blank">Lindsell Train</a></li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5db9dbd123316d682a695a20/1572461522295/3Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $PSSR, $SIFY, $INS, $CTEK, $TBTC)</li>
<li><a href="https://southeasternasset.com/commentary/3q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CTL, $GOOG, $GOOGL, $CMCSA, $GE, $FDX, $FRFHF)</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5db9f8173907823b364ebba8/1572468760093/Maran+Partners+Fund+LP+2019+Q3+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RCMT)</li>
<li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Third%20Quarter%20Letter%20to%20Investors.pdf" target="_blank">Massif Capital</a> - ($DO, $TOO, $EAF, $DE, $UNP, $CSX, $NCLH)</li>
<li><a href="https://docs.wixstatic.com/ugd/f6ee8c_adb2e39184484fd5a9374a1b8ddad5fe.pdf" target="_blank">Merion Road Capital</a> - ($HXL, $IAA, $TRNS)</li>
<li><a href="https://www.hvst.com/organization/meson-capital-partners-llc/posts/meson-q3-update-man-vs-machine-wPZT3xZx" target="_blank">Meson Capital</a></li>
<li><a href="https://brookvine.com.au/wp-content/uploads/2019Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/10/2019-Q3-Nelson-Roberts-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($SIVB, $SCHW, $AKAM, $PFE, $DLR)</li>
<li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Third-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a> - ($GOOG, $CHTR, $DDAIF, $APA)</li>
<li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_fe35b044b6f9420aa65670c4b7dfbf7f.pdf" target="_blank">Old West Investment Management</a></li>
<li><a href="https://docs.wixstatic.com/ugd/ef2f99_2044e47207184e0a96223be92f96d4b5.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.B, $CRD/B, $GENC)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $IT, $MSCI)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a> - ($ALGN, $ABT, $SGSOY)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a> - ($TREX, $FND, $LMAT, $FOXF, $OLLI, $TREE, $APPF, $ALTR)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="https://files.constantcontact.com/07cbbb80601/d7746d56-0340-44ba-b2d3-fb41d43a159a.pdf" target="_blank">Rangeley Capital</a> - ($CHTR)</li>
<li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5db930e3f152967e525fbd89/1572417764733/RF+Capital+Q3+Letter+2019.pdf" target="_blank">RF Capital Management</a> - ($FL, $GAPFF, $ZAGG, $GME, $GTX)</li>
<li><a href="http://www.rgaia.com/q32019-investment-commentary-kambi/" target="_blank">RGA Investment Advisors</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($GOOG, $BX, $AAPL, $NOC, $EQIX, $EXAS, $ALGN, $AMZN, $SDC, $ULTA, $TWLO)</li>
<li><a href="http://www.rmbcap.com/files/RMB_Core_Equity_-_Investor_Letter_3Q19.pdf" target="_blank">RMB Core Equity Fund</a></li>
<li><a href="https://themarketplunger.com/2019/11/12/q3-2019-letters/" target="_blank">Rockvue Capital</a> - ($UAA, $FOX)</li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/4d8542a4-48be-4664-bc79-6506621e8100/Saber_Investment_Fund_Q3_Letter.pdf" target="_blank">Saber Capital Management</a></li>
<li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_7f9545a28a0a48129a7920980b5b2f27.pdf" target="_blank">Saga Partners</a> - ($VSEC)</li>
<li><a href="https://sevencanyonsadvisors.com/resources/seven-canyons-world-innovators-quarterly-commentary/" target="_blank">Seven Canyons World Innovators</a></li>
<li><a href="https://docs.wixstatic.com/ugd/de07f6_0c03e7d62d824ca98a96fa974471a7fb.pdf" target="_blank">Spree Capital</a> - ($CFX, $CARS)</li>
<li><a href="https://srk-capital.com/content_files/2019/11/SRK-Fund-Q3-2019.pdf" target="_blank">SRK Capital</a></li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/3Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($SLGD, $BSTC, $ELMD)</li>
<li><a href="https://taovalue.files.wordpress.com/2019/10/taovalue_2019_q3_final.pdf" target="_blank">Tao Value</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/11/2019-Q3-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($CLNY, $GWW, $HNGKY)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CTB, $SAFM)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li>
<li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2019/10/Third-Point-Q3-2019-Letter-TPOI-.pdf" target="_blank">Third Point Offshore Fund</a> - ($ESLOY, $SNE)</li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5da981abd30f37336bb612b3/1571389868322/Tollymore+letter+Sep+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($GRUB)</li>
<li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Fund</a> - ($KRNTY, $FOX $FOXA, $TBABF, $BIDU)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5da09b01c80d065ebaf8d703/1570806531156/Upslope+-+2019Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($IT)</li>
<li><a href="https://www.dropbox.com/s/vsrenaad14f2bxa/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q3%202019%20%28Final%29.pdf?dl=0&utm_source=Website+Signup+-+Vilas+Capital+Management%2C+LLC&utm_campaign=8004c87a9b-3Q2019+Ltr_Web&utm_medium=email&utm_term=0_0fbdf27fc5-8004c87a9b-431098533" target="_blank">Vilas Capital</a></li>
<li><a href="http://www.vltavafund.com/data/dopisy/dopis_57_en.pdf" target="_blank">Vltava Fund</a> - ($BRK.A, $BRK.B, $SBRCY, $BMWYY)</li>
<li><a href="https://docs.wixstatic.com/ugd/5bfe4b_03b9a051772a4b9792c849ed7f74150a.pdf" target="_blank">Wedgewood Partners</a> - ($CDW, BRK.B, $NVDA, $ULTA)</li>
<li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/3Q19_Value%20Matters.pdf?1572140971546" target="_blank">Weitz Value Fund</a></li>
<li><a href="https://whitebrookcapital.app.box.com/s/4giogadrnt294d6q8t3a4awtxhrkjmjh" target="_blank">White Brook Capital</a> - ($BOX, $GRPN)</li>
<li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5db752012422566f6f7f86a4/1572295170818/Q3+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li>
</ul>
<div>
<br /></div>
</div>
<span style="font-size: large;">2nd Quarter 2019</span><br />
<br />
<div>
<br />
<ul>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2019/07/Alluvial-Capital-Management-Q2-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $NUVR, $MMAC, $RAMPF, $CLWY, $CMLS, $FTR)</li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q2.pdf" target="_blank">Alphyn Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5d3a2ee5c694120001688a00/1564094184541/Q2+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($PAYS, $KWS, $NTDOY)</li>
<li><a href="https://www.dropbox.com/s/19lcbm48spw3g9c/Andvari-2019q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MLAB, $UPLD, $APPN, $BL, $WDAY, $TYL)</li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/08/APPLX-Q2-2019.pdf" target="_blank">Appleseed Fund</a> - ($CRTO, $SINA)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAZ, $TAP, $MTSC)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/6b4ee586-4e8c-4044-a1be-d9f30c4f9e34/Arquitos_Investor_Letter_Q2_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC)</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTMX-APDMX-APHMX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTSX-APDSX-APHSX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.hvst.com/posts/artko-capital-2q-2019-partner-letter-EvrTnmKZ" target="_blank">Artko Capital</a> - ($CCNI, $JYNT, $WFCW, $FLL, $NRCGW)</li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/07/2019-06-29-Askeladden-Capital-Q2-2019-Letter-Askeladden-Reloaded.pdf" target="_blank">Askeladden Capital</a> - ($FC, $AER, $DLTH, $LGIH, $SFM, LQDT)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $IDXX, $SSNC, $BNFT, $IRDM, $FDS, $ACGL, $RRR, $TWOU, $CVET, $ADPT, $ALEC)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $ACGL, $CHH, TSLA, $BNFT, $MANU)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($IDXX, $JBT, $SITE, $TTD, $BFAM, $GTT, $RRR, $CISN, $PRA, $CVET, $TREX)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_6_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $GNRC, $BV, $CLDR, $SSTK, $MIK, $EPAM, $SNPS, $LOGM, $INOV, $CARB, $MINI)</li>
<li><a href="https://www.biremecapital.com/blog/fundamental-value-2q19-quarterly-letter" target="_blank">Bireme Capital</a></li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/07/Q2-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $GRUB, $TRIP)</li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5d350ce2e13121000110246f/1563757795868/2019+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($CNR)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/8ef5fe82-9246-4fdd-afb3-8bb4681ebb8b/0719_BCM_Partner_Letter_Q2_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $GTN)</li>
<li><a href="https://browncapital.com/system/files/scf2q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li>
<li><a href="https://browncapital.com/system/files/mcf2q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li>
<li><a href="https://browncapital.com/system/files/ief2q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf2q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/07/2019-Q2-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($DEST, $BXC, $PAR)</li>
<li><a href="https://www.docdroid.net/IereKR2/coho-capital-2019-q2-letter.pdf" target="_blank">Coho Capital</a> - ($GDDY)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5d1909fa11a9570001ea18c8/1561922043505/2019Q2.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FISV, $FRRVY, $FRRVF, $TTNDY)</li>
<li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5d2fbf4e8b4dd7000199603e/1563410254409/Q2+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($KTB)</li>
<li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/5fd3b3ea-7001-4c07-8d63-f95d455af921/Q2_2019_Desert_Lion_Capital_Letter.02.pdf" target="_blank">Desert Lion Capital</a></li>
<li><a href="http://east72.com.au/wp-content/uploads/2019/07/E72-Quarterly-Report-June-2019.pdf" target="_blank">East 72 Holdings</a> - ($AFTPF, $ADS)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2019/" target="_blank">Ensemble Fund</a> - ($BR, $SBUX, $FAST, $FRC, $GOOG)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($DIS, $BORR, $STING)</li>
<li><a href="https://www.ewingmorris.com/wp-content/uploads/2019/07/Q2-2019-Letter-vFINAL.pdf" target="_blank">Ewing Morris</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2019/iso_lc_20190630.pdf" target="_blank">Fiduciary Management FMI Large Cap</a></li>
<li><a href="http://ift.tt/2lCHEK9" target="_blank">Firebird Management</a> - ($BV, $KSS)</li>
<li><a href="http://bit.ly/2IVHtCO" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q2-2019.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a> - ($ALGT, $XEC, $MKSI)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-06_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($ALGT, $XEC, $MKSI)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5d44bf055832920001fa4381/1564786438422/Greenhaven+Road+Letter+%282019+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($KKR, $APPS, $PAR, $SHSP, $ETSY, $NTDOY)</li>
<li><a href="https://www.docdroid.net/nGef9ZE/greenlightq2letter.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.08.19-Q2-Letter.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q2.pdf" target="_blank">Hayden Capital</a> - ($CMPR, $JD)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($RDN, $VST, $CALX)</li>
<li><a href="https://www.dropbox.com/s/5nuv7dwl1ciblrv/Lightsail%202Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5d46e8a04cbc950001226b6c/1564928160433/2Q19+letter.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $DAIO, $SIFY, $INS, $CTEK, $TBTC)</li>
<li><a href="https://southeasternasset.com/commentary/2q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CMCSA, $GE, $AMG, $CTL, $HCMLY\$HCMLF, $CHKGF, $CNHI, $FDX, $MAT, $CNX) - ($CBLLF, $DE)</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5d3b26b6b5cb710001c505e5/1564157623654/Maran+Partners+Fund+LP+2019+Q2+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $WLK, $BXC, $SVIN, $BH)</li>
<li><a href="https://marvistainvestments.com/wp-content/uploads/2019/07/MVIP-2Q19-Letter-FINAL.pdf" target="_blank">Mar Vista Investment Partners</a></li>
<li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5d2dd3b02daa030001a79d58/1563284400621/Massif+Capital+Second+Quarter+Letter+to+Investors.pdf" target="_blank">Massif Capital</a> - ($CBLLF, $DE)</li>
<li><a href="https://docs.wixstatic.com/ugd/f6ee8c_109a2c968fa84fa2afd22765e9af9374.pdf" target="_blank">Merion Road Capital</a> - ($IAA, $KAR, $MHH)</li>
<li><a href="https://www.brookvine.com.au/wp-content/uploads/2019Q2_Mittleman-Global-Value-Equity-Fund_Qtrly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li>
<li><a href="https://drive.google.com/file/d/13kJJaxTuFCpNSOGStboGQFTDcl6ywMQq/view" target="_blank">MPE Capital</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q2-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ROP, $DLR, $PFE) </li>
<li><a href="https://docs.wixstatic.com/ugd/ef2f99_704bd79f605041f3920f5f06d726faf1.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.A\$CRD.B, $CWGL, $NGS, $WMK, $UG, PTVCA\PTVCB, $AE, $DOX, $SCHL, $GENC)</li>
<li><a href="https://pershingsquareholdings.com/wp-content/uploads/2019/08/2019-Semiannual-Financials-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/q2-2019-investment-commentary/" target="_blank">RGA Investment Advisors</a></li>
<li><a href="https://gallery.mailchimp.com/bca5bc00638aa58b6cada7fab/files/3f913a70-cf19-4e27-8a1c-42a613be3200/Rhizome_Partners_Q2_2019_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($ADBE, $AMZN, $FIVE, $ISRG, $GOOG\$GOOGL, $FB, $AAPL, $BX, $EXAS, $MSFT, $DIS, $PANW, $TDC, $ADSK, $COG)</li>
<li><a href="https://themarketplunger.com/2019/08/10/2q-2019-letter/" target="_blank">Rockvue Capital</a> - ($EAF, $TH, $UAA)</li>
<li><a href="https://www.rvcapital.ch/wp-content/uploads/2019/08/Co-Investor_Letter_H1_2019-EN.pdf" target="_blank">RV Capital</a></li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/a676b819-a092-4246-8284-74178e0a6fa9/SIF_2019_07_19_Investor_Letter.04.pdf" target="_blank">Saber Capital Management</a> - ($FB, $WFC)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_cee76b8ab55c40bcbc31421f7759ca6f.pdf" target="_blank">Saga Partners</a> - ($TTD, $LIMAF, $FB, $TRUP, $UA)</li>
<li><a href="https://docs.wixstatic.com/ugd/de07f6_58cdbf3f06da4d9b9bfc3dfba3366371.pdf" target="_blank">Spree Capital</a> - ($CVET, $BB, $QCOM)</li>
<li><a href="https://assets.empirefinancialresearch.com/uploads/2019/07/EFD-7-1-Stanphyl-Capital-Letter-June-2019.pdf" target="_blank">Stanphyl Capital Management</a> - ($TSLA, $AVNW, $WSTL)</li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/2Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $BSTC, $ELMD)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5d1b720139ab94000119388b/1562079747536/Tollymore+letter+June+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($BID)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5d2cb4770f60db0001b4a56c/1563210872722/Upslope+-+2019Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FLIR, $HGV, $COKE, $PACK)</li>
<li><a href="http://www.vltavafund.com/data/dopisy/dopis_56_en.pdf" target="_blank">Vltava Fund</a> - ($AN)</li>
<li><a href="https://docs.wixstatic.com/ugd/5bfe4b_d88728c47e5442b9aa1f1d731c89ef5b.pdf" target="_blank">Wedgewood Partners</a> - ($ALC, $BRK.B, $SCHW, $CTSH, $EA, $MSI, $ODFL)</li>
<li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1570807813238" target="_blank">Weitz Value Fund</a></li>
</ul>
</div>
<br />
<span style="font-size: large;">1st Quarter 2019</span><br />
<br />
<div>
<ul>
<li><a href="https://gallery.mailchimp.com/b5aa12c5c889b46c0f8288f6d/files/a791ca4e-e5b2-4a25-b606-0d1d6c95f384/Alluvial_Capital_Management_Q1_2019_Letter_to_Partners_04.22.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $APTL, $IEHC, $HICKA)</li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7b8f29e3a8d0001860027/1556592883034/Q1+2019+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL - $PAYS, $JYNT, $RMBL, $STKS). <a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7baa5eb39310fecbc7bdf/1556593318315/Alta+Fox+STKS+Long+4.28.19.pdf" target="_blank">Full Pitch</a> on $STKS)</li>
<li><a href="https://www.dropbox.com/s/rax170rmix70bir/Andvari-2019q1-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($UPLD, $TLRA, $WDAY, $V, $MA, $TYL, $MKL)</li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/05/2019-APPLX-semi-annual-letter.pdf" target="_blank">Appleseed Fund</a> - ($SKM, $ERJ)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($AXE, $KMX, $ZBRA)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/680d1b4b-376f-4a4a-9324-af9ff3abe4dd/Arquitos_Investor_Letter_Q1_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2019-partner-letter-wy9TLMel" target="_blank">Artko Capital</a> - ($REPH, $NRCGW, $GAIA, $EEI, $LEAF)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%203.31.19.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $SSNC, $IRDM, $ANSS, $NEOG)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $H, $IRDM, $GWRE, $TSLA, $BNFT, $CHH)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%203.31.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($TTD, $TDG, $FND, $GWRE, $HUD, $OEC, $PRTY, $BJRI, $CCC, $OSW, $CCX.U)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAM, $SSTK,$VRNT, $MIK, $QUOT, $MG, $BV)</li>
<li><a href="https://bluehawkinvestors.com/q1-2019-investor-letter/" target="_blank">Bluehawk Investors</a> - ($MTCH, $FND)</li>
<li><a href="https://www.biremecapital.com/blog/fundamental-value-1q19-quarterly-letter" target="_blank">Bireme Capital</a> - ($AAPL, $BKNG)</li>
<li><a href="https://browncapital.com/system/files/scf1q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li>
<li><a href="https://browncapital.com/system/files/mcf1q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li>
<li><a href="https://browncapital.com/system/files/ief1q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf1q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/05/2019-Q1-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $USX)</li>
<li><a href="https://drive.google.com/file/d/1YUpNRWvSGBBLMymAbEXUoOCqFON2ENEJ/view">Compound Everyday Capital</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ca171d41905f4c611b9202c/1554084308682/2019Q1letter.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SHMZF, $APH, $FRRVY, $FRRVF, $DHR, BAM, $SAPIF)</li>
<li><a href="https://www.nsx.com.au/ftp/news/021736732.PDF" target="_blank">East 72 Holdings</a> - ($ING, $MKL, $Y)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2019/" target="_blank">Ensemble Fund</a> - ($LSTR, $GOOG, $GOOGL)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($BDRBF, $KRA)</li>
<li><a href="https://t.co/YPShTxBhfj" target="_blank">Ewing Morris</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-2019-q1.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-03.pdf?sfvrsn=6" target="_blank">FPA Capital Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5cc366e74442bb0001c72482/1556309735923/Greenhaven+Letter+%282019+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $APPS, $KKR, $ETSY, $SHSP, $BOX, $EVI, $FCAU, $CSSE)</li>
<li><a href="https://www.docdroid.net/H7KPSVZ/greenlight-capital-q1-2019.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.05.23-Q1-Letter-Building-Gamma.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-1Q19-Report.pdf" target="_blank">Harding Loevner Global Small Cap Equities</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-1Q19-Report.pdf" target="_blank">Harding Loevner Global Equities</a> - ($KHC, $NSRGY, $LYFT, $WBC, $VRTX)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($BRY, $ARAY, $NWPX, $CCS, $FSLR)</li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q1.pdf?utm_source=Hayden+Capital&utm_campaign=fc6ae8918e-EMAIL_CAMPAIGN_2019_05_12&utm_medium=email&utm_term=0_aae4c81ce6-fc6ae8918e-103558831" target="_blank">Hayden Capital</a> - ($SE, $ZLPSF)</li>
<li><a href="http://www.horancm.com/sites/default/files/users/horancm/Portfolio%20Activity%201Q2019.pdf" target="_blank">Horan Capital Management</a> - ($MTN, $ATVI, $BKNG, $AAPL, $THO, $TCEHY, $GOOG, $FB)</li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($K, $PEP, $NFLX, $AMZN, $TPL)</li>
<li><a href="https://jdpcap.com/wp-content/uploads/2019/05/1Q-2019-Presentation-.pdf" target="_blank">JDP Capital Management</a> - ($XPO, $TK, $SPOT)</li>
<li><a href="https://www.docdroid.net/3VOAy5K/laughing-water-capital-q1-2019.pdf" target="_blank">Laughing Water Capital</a></li>
<li><a href="https://www.dropbox.com/s/1brj1hqavl9r08n/Lightsail%201Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a> - ($DRTTF)</li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5caf96756e9a7f50f6f03ec5/1555011190189/1Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $EVI, $CTEK)</li>
<li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/1Q19-Longleaf-Partners-Commentary.pdf" target="_blank">Longleaf Partners Fund</a> - ($GE, $MAT, $WYNN, $CTL, $HCMLY, $CHKGF)</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5cbdecde53450adb9a30dde5/1555950815790/Maran+Partners+Fund+LP+2019+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5cb5d9ccf9619acd0cf39f4e/1555421645754/Massif+Capital+First+Qtr+2019+Letter+to+Investors.pdf" target="_blank">Massif Capital</a></li>
<li><a href="https://docs.wixstatic.com/ugd/f6ee8c_b0cee1afd831423facf7f964eeada115.pdf" target="_blank">Merion Road Capital</a> - ($FCPT, $SLGG)</li>
<li><a href="https://www.docdroid.net/ostq4If/2019-q1-midwood-q1-2019-investor-letter.pdf" target="_blank">Midwood Capital Partners</a> - ($NXST, $DRTTF, $RCM, $LMB, $REPH)</li>
<li><a href="https://millervalue.com/bill-miller-1q-2019-market-letter/?dtr" target="_blank">Miller Value Partners</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q1-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($HD)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0319.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://assets.pershingsquareholdings.com/2019/05/17082807/Pershing-Square-Holdings-Ltd.-Q1-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a> - ($ADP, $QSR, $LOW, $SBUX, $HLT, $UTX, $HHC, $FNMA, $FMCC)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/q12019-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($GRUB)</li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/24185410-368c-44bd-a930-4a9d92e88bf9/SIF_2019_04_20_Investor_Letter.pdf" target="_blank">Saber Capital Management</a> - ($AAPL. $FB, $TCEHY)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_28dd8002fdf344a382a093d989c5b0f5.pdf" target="_blank">Saga Partners</a> - ($TRUP)</li>
<li><a href="https://docs.wixstatic.com/ugd/de07f6_21e9c90b285a4116ae4312cc1bb1bdbd.pdf" target="_blank">Spree Capital</a> - ($ROKU, $FTDR, $EBAY, $ALRM, $ZAYO)</li>
<li><a href="https://www.docdroid.net/QBav0xn/summers-value-partners-1q19-investor-letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $CVET, $SLGD, $ELAN, $KHTRF)</li>
<li><a href="https://mailchi.mp/ltfunds/templeton-and-phillips-investment-commentary-1q19-india" target="_blank">Templeton and Phillips Capital Management</a> - ($FFXDF, $HDB)</li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5cdd1d38e79c70fa76c315b2/1557994809354/Tollymore+letter+May+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRIP, $SE)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAREX-1Q19-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($INTU.L, $NWHM, $JBGS)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/04/TASCX-1Q19-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($AGX)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAVFX-1Q19-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCC, $TDW, $EXP, $MHK)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5cb8894071c10b5b67e05353/1555597643395/Upslope+-+2019Q1+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($ATR, $YETI, $BLD)</li>
<li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global Growth</a></li>
<li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1557519727747" target="_blank">Weitz Investment</a><span id="goog_1812407177"></span><a href="https://www.blogger.com/"></a><span id="goog_1812407178"></span> - <a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/Analyst%20Corner_CarMax.pdf?1557519727747" target="_blank">An Introduction to CarMax, Inc.</a> - $KMX</li>
</ul>
</div>
<br />
<br />
<span style="font-size: large;">4th Quarter 2018</span><br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5c509321f950b7176a5db508/1548784418298/Q4+2018+Alta+Fox+Capital+Quarterly+Letter+Final.docx.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL)</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2019/01/Alluvial_Capital_Management_Q4_2018_Letter_to_Partners_01.24.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $MMAC, $RAMPF, $AMNF)</li>
<li><a href="https://www.dropbox.com/s/53g8vs2pt3cpv4o/Andvari-2018q4-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MA, $TYL)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/" target="_blank">Ariel Funds</a> - ($ATGE, $AMG, $KN)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/9d0f05b1-9864-4bfe-84ff-d97cd237714e/Arquitos_Investor_Letter_Q4_2018.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li>
<li><a href="https://www.hvst.com/posts/artko-capital-4q-2018-partner-letter-wnLTNPM6" target="_blank">Artko Capital</a> - ($JYNT, $SMED, $AFCN, $USAT, $PRIXQ, $SPAR)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%2012.31.18_3.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_12_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($HRC, $TRS, $CLH, $SSTK, $CMP, $CTLT, $EPAY, $MEDP, $ELY, $MIK, $MG, $SRCL)</li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/02/2018-Q4-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $DEST, $UA, $CMG)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5c2ca3e0aa4a995f08caea24/1546429409931/FY2018.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($BAM, $PTC, $SIRI, $PYPL, $HEI)</li>
<li><a href="http://east72.com.au/wp-content/uploads/2019/01/E72-Quarterly-Report-Dec-2018.pdf" target="_blank">East 72 Holdings</a> - ($AER, $EXXRF, $VIRT)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2018/" target="_blank">Ensemble Fund</a> - ($SCHW, $ST)</li>
<li><a href="https://www.evansandpartners.com.au/sites/default/files/InternationalFundQuarterly_December2018.pdf" target="_blank">Evans and Partners International Fund</a> - ($SKFOF, $RELX, $MMM, $GOOG, $V, $ADDYY, $AON)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/fpa-capital-fund-annual-report_03-31-19_web-ready.pdf?sfvrsn=4" target="_blank">FPA Capital Fund - Annual Report</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/crescent-fund-annual-report-web-ready-(12-31-18).pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2018.pdf" target="_blank">Fundsmith Equity Funds</a> - ($PM, $FB, $SBUX, $MSFT) - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li>
<li><a href="http://www.goodwoodfunds.com/wp-content/uploads/Goodwood-Annual-Report-2018.pdf" target="_blank">Goodwood Funds</a> - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5c4bc50842bfc120277fb927/1548469513395/Greenhaven+2018+Q4+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $KKR, $YELP, $BOX)</li>
<li><a href="https://drive.google.com/file/d/1W8cHASX6-hodil8f2KsnZdbWwkERXCjw/view" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.01.15-Q4-2018-Letter-vFinal.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q4.pdf" target="_blank">Hayden Capital</a> - ($MPNGF, $CVNA, $JD)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS, $NWPX, $ARAY)</li>
<li><a href="https://static1.squarespace.com/static/59a07c7b7131a5b68981e4d5/t/5cc7c1aaf56535000156ba28/1556595115918/Lightsail+2Q+2018+Letter.pdf" target="_blank">Lightsail Capital management</a> - ($DRTTF)</li>
<li><a href="https://www.valuewalk.com/2019/02/mittleman-brothers-4q18-clear-media/" target="_blank">Mittleman Brothers</a></li>
<li><a href="https://drive.google.com/file/d/1TmrJPz9OlvLmGBSiADH7ggUOs544pllr/view" target="_blank">MPE Capital</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/01/Nelson-Roberts-2018-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ZTS)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_1218.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/2018-year-end-investment-commentary-easy-come-easy-go/" target="_blank">RGA Investment Advisors</a> - ($ROKU, $CGNX)</li>
<li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/Co-Investor_Letter_2018-EN.pdf" target="_blank">RV Capital</a></li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_ae6d4d06c60344d8b7971326501d9b65.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LGIH, $FB)</li>
<li><a href="https://drive.google.com/file/d/1YKnOvM33MFTIEO_rnU9ZmOBQczTSqLd0/view" target="_blank">Sebids Capital</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAREX-4Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($DLN.L, $WY, $ZION, $PNC Warrants)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/01/TASCX-4Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CUBI, $MYRG, $ATNI)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAVFX-4Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($DWDP, $DDAIF, $ANFGF)</li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5c3cb0b540ec9ab9b9fd10f0/1547481270127/Tollymore+letter+December+2018.pdf" target="_blank">Tollymore Investment Partners</a> - ($UHAL, $GYM.LN, $ITEGY, $TRIP, $TRUP)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5c38b8cb4fa51a28ba9f70a0/1547221197096/Upslope+-+2018Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($EVR, $BLD, $JE.LN, $DLTR, $KWR, $YETI, $MKTX, $TSLA)</li>
<li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global</a></li>
<li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/4Q18_Value%20Matters.pdf?1557519727747" target="_blank">Weitz Investment</a></li>
<li><a href="http://wiedowercapital.com/files/Letter2018.pdf" target="_blank">Wiedower Capital</a> - ($TRUP, $JD, $ISDR)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/33abc1df-abe9-49a8-aef3-cc6058c2948d/WOSF_Partner_Letter_January_22_2019.pdf" target="_blank">Willow Oak Select Fund</a> - ($BEL)</li>
</ul>
<br />
<br />
<div>
<span style="font-size: large;">3rd Quarter 2018</span></div>
<br />
<div style="font-family: "times new roman"; margin: 0px;">
<div style="font-family: "Times New Roman";">
<ul style="font-family: "Times New Roman";">
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5bc79a54eef1a1e334de4634/1539807830450/Q3+2018+Alta+Fox+Capital+Quarterly+Letter+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($XPEL, $TPNL, $UWN)</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q3-2018-Letter-to-Partners-10.29.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $OTEL, $MMAC, $CTRA, $BXC, $RAMPF)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-3q-2018-partner-letter-X34TP2Oe" target="_blank">Artko Capital</a> - ($TWNKW, $RSSS)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Quarterly%20Report%209.30.18_0.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $SSTK, $MIK, $PLOW, $GNTX, $OI, $APAM, $QUOT)</li>
<li><a href="https://choice-equities.com/wp-content/uploads/2018/11/2018-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($LAWS, $BECN, $BXC, $YELP, $DEST)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5bb318fa15fcc0a9cd511971/1538463995185/2018Q3.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FTV, $FERGY, $CCF, $ROP, $FRC, $AMADY, $CMCSA, $SIRI, $AON)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2018/" target="_blank">Ensemble Fund</a> - ($TRUP, $BKNG)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5be1e3a60e2e72c05e5cdd4b/1541530534947/Greenhaven+Road+-+2018+Q3+Final_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $TRIP, $YELP, $EVI, $BOX)</li>
<li><a href="https://www.docdroid.net/MfMnIs3/greenlight-capital-q3-2018.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.10.10-Q3-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TRIP, $TI)</li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q3.pdf" target="_blank">Hayden Capital</a> - ($MKL, $JD)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TLRY, $BRY, $SRCI, $AXAS, $CCS)</li>
<li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/3Q18-Longleaf-Partners-Funds-Shareholder-Letter.pdf" target="_blank">Longleaf Partners Fund</a> - ($CTL, $BEL, $OCINF)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0918.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Focus%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Global%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/International%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/U.S.%20Small%20Company%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/q32018-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($PYPL, $WBA)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_890d215dee47497ba91e2a46ad7aa95a.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAREX-3Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($BKG.L, $JBGS, $CHKGF)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/11/TASCX-3Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $ASIX, $MYRG)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAVFX-3Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($TDW, $CHKGF, $BZZFF, $DB)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5bc894958165f5a62a1e5c6a/1539871893976/Upslope+-+2018Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($CWH, $TSLA, $MKTX)</li>
</ul>
</div>
</div>
<div style="font-family: "times new roman"; margin: 0px;">
<br /></div>
<br />
<span style="font-size: large;">2nd Quarter 2018</span><br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5b57bd2988251bd8777d5ee0/1532476738546/Q2+2018+Alta+Fox+Capital+Quarterly+Letter.docx.pdf" target="_blank">Alta Fox Capital Management</a> - (T$PNL, $XPLT)</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q2-2018-Letter-to-Partners-7.20.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $SCOO, $NUVR, $MMAC)</li>
<li><a href="https://www.dropbox.com/s/ga6p199nuv30j9i/Andvari-2018q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($TTD, $APPN, $TCEHY, $MKTX, $GOOG)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAKE, $TISI, $TGNA)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-2q-2018-partner-letter-wARTJpDv" target="_blank">Artko Capital</a> - ($EEI, $ROSEW/ROSEU, $WFCF, $FRD)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%206.30.18_0.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_6_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $KN, $OI, $APAM, $CNK, $PLOW, $MIK, $CSOD, $EXLS)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/464760b7-cb8c-4974-98ae-c9ff09e5f2c8/0718_BCM_Partner_Letter_Q2_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($KT)</li>
<li><a href="https://choice-equities.com/wp-content/uploads/2018/08/2018-Q2-CEF-Investor-Letter_WEBSITE-PDF.pdf" target="_blank">Choice Equities Fund</a> - ($CMG, $REED, $BECN)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5b38349e2b6a280422fa91ba/1530410142957/2018Q2.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SAPIF, $TTNDY, $MKSI, $CMCSA, $PNR, $CIGI, $BAX, $SPGI)</li>
<li><a href="http://east72.com.au/wp-content/uploads/2018/07/E72-Quarterly-Report-June-2018.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $UCPLF, $ELFIF)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2018/" target="_blank">Ensemble Fund</a> - ($LB, $PBH)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q2-letter_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li>
<li><a href="https://gatorcapital.com/wp-content/uploads/2018/07/20180723-GFP-2018-Q2-Letter.pdf" target="_blank">Gator Capital Management</a> - ($AMP)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5b5b790daa4a9904b4e75eb0/1532721421547/Greenhaven+%282018+Q2%29_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $YELP, $CSSE)</li>
<li><a href="https://www.docdroid.net/xz9WkeV/greenlight-capital-q2-2018-letter.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.07.18-Q2-2018-Letter-v2.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TI)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS)</li>
<li><a href="https://www.docdroid.net/KyxH0f8/laughing-water-capital-h118.pdf" target="_blank">Laughing Water Capital</a> - ($EZPW, $FCAU, $CDMO, $CWH, $RMNI/$RMNIW)</li>
<li><a href="https://www.docdroid.net/PctUQHa/maran-partners-fund-lp-2018-2q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $LOV)</li>
<li><a href="https://drive.google.com/file/d/1n2UY-hQd8QEPzidhsQFL2lyeBngGsdPw/view" target="_blank">MPE Capital</a></li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0618.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Focus-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Global-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/International-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/US-Small-Company-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2018/08/Q2-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($EQIX)</li>
<li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2018/07/Co-Investor_Letter_H1_2018-EN.pdf" target="_blank">RV Capital</a> - (AddLife, PSG Group)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_6b3f18269c334631a75ac584d4276af6.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAREX-2Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FPH, $LEN)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/07/TASCX-2Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $SAFM)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAVFX-2Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCTPF, $KKWFF, $BCAUY, $HA</li>
<li><a href="http://wiedowercapital.com/files/Letter1H18.pdf" target="_blank">Wiedower Capital</a> - ($JD)</li>
</ul>
<br />
<div>
<br />
<span style="font-size: large;">1st Quarter 2018</span><br />
<br />
<ul>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q1-2018-Letter-to-Partners-4.23.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $OTEL, $LICT, $MMAC $BXC)</li>
<li><a href="https://www.docdroid.net/90TaM6T/arquitos-investor-letter-q1-2018.pdf" target="_blank">Arquitos Capital Management</a> - ($SYTE, $WEDXF)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-1q-2018-partner-letter-wPZT33Kb" target="_blank">Artko Capital</a> - ($HTM, $GAIA, $HDSN, $SKY)</li>
<li><a href="https://doc.morningstar.com/Document/a444b3ab802f4a0c076025c4dee1cd5a.msdoc/original?clientid=globaldocuments&key=52dbc583e1012395" target="_blank">Ariel Funds</a> - ($KEYS, $MHK, $OAK)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $ELY, $EPAY, $CMP, $MIK, $MG)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2249ec23-e80d-46a8-9f65-846264852383/0418__BCM_Partner_Letter_Q1_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TI, $TOO)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ada7a78575d1f52aa6e679d/1524267640733/2018Q1.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SPGI, $CME, $CMCSA, $SPB)</li>
<li><a href="https://www.docdroid.net/S613L8e/1q-2018-dane-investor-letter.pdf" target="_blank">Dane Capital Management</a> - ($DSKE, $IEA, $LAZY, $LMB, $YTRA, $EVI)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2018/" target="_blank">Ensemble Fund</a> - ($NFLX, $DNOW)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q1-letter_vfinal.pdf#page=2" target="_blank">FPA Capital Fund</a> - ($WDC, $TEN, $ALGT)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q1-2018-vfinal.pdf#page=2" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ae7bf98f950b7272142f5c2/1525137305236/Greenhaven+2018+Q1+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $BXC)</li>
<li><a href="https://www.docdroid.net/K95Fju3/greenlight-capital-q1-2018.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.05.11-Q1-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $RYCEY, $VIVHY)</li>
<li><a href="https://www.docdroid.net/81jd56q/laughing-water-capital-q1-2018.pdf" target="_blank">Laughing Water Capital</a> - ($BXC, $OCN, $TRC, $GHL, $ITI, $GAIA)</li>
<li><a href="https://longleafpartners.com/sites/default/files/categories/Documents/1Q18-Longleaf-Partners-Quarterly-Summary-Report-All-Funds.pdf" target="_blank">Longleaf Partners</a></li>
<li><a href="https://www.docdroid.net/eFTaTcE/maran-partners-fund-lp-2018-1q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $IAC, $ATTO)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0318.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2018/05/Q1-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($DIS, $RAMP)</li>
<li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q18.pdf" target="_blank">RiverPark Large Growth Fund</a></li>
<li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rpfvf/commentary/RiverPark_Focused_Value_1Q18_SH_Letter.pdf" target="_blank">RiverPark Focused Value Fund</a></li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_64caf8ca6a264972923df8b202415b9a.pdf" target="_blank">Saga Partners</a> - ($ESI, $LILAK)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAREX-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($AKR, $SRG)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TASCX-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($FRPH, $WEDXF. $SMHI)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAVFX-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BDRLF, $KKWFF, $BMWYY)</li>
<li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2018/04/VVP-Quarterly-Commentary-18.03.31.pdf" target="_blank">Vulcan Value Partners</a></li>
</ul>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-56164756756744226612020-02-07T20:26:00.001-05:002020-02-07T20:27:48.125-05:00Selected Tweets<span style="font-family: "quicksand" , sans-serif;">It's time for some tweets.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">Thanks for reading.</span><br />
<br />
<blockquote class="tr_bq">
<span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>"</i></span><span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>Successful investing is anticipating the anticipations of others." John Maynard Keynes</i></span></blockquote>
<br />
<blockquote class="tr_bq">
<span style="color: #660000;"><i><span style="font-family: "quicksand" , sans-serif;">"</span></i></span><span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>Money may not buy happiness, but I'd rather cry in a Jaguar than on a bus." </i></span><i style="color: #660000; font-family: quicksand, sans-serif;">Françoise Sagan</i></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>On $IBKC sale to $FHN</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1) A little bank stock comparison rant on the heels of <a href="https://twitter.com/search?q=%24IBKC&src=ctag&ref_src=twsrc%5Etfw">$IBKC</a> <a href="https://twitter.com/IBERIABANK?ref_src=twsrc%5Etfw">@IBERIABANK</a> of Lafayette, LA’s sale today to <a href="https://twitter.com/search?q=%24FHN&src=ctag&ref_src=twsrc%5Etfw">$FHN</a><br />
<br />
Bloomberg goes back to 1996.<a href="https://twitter.com/search?q=%24IBKC&src=ctag&ref_src=twsrc%5Etfw">$IBKC</a> looked like this:<br />
Assets - $624MM<br />
Earnings - $7MM<br />
Equity - $120MM<br />
Book Value / Share $16</div>
— Phil Timyan (@TimyanBankAlert) <a href="https://twitter.com/TimyanBankAlert/status/1191547972024188928?ref_src=twsrc%5Etfw">November 5, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$FIS, $FISV, $GPN Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Terrific write up of <a href="https://twitter.com/search?q=%24FIS&src=ctag&ref_src=twsrc%5Etfw">$FIS</a>, <a href="https://twitter.com/search?q=%24FISV&src=ctag&ref_src=twsrc%5Etfw">$FISV</a>, <a href="https://twitter.com/search?q=%24GPN&src=ctag&ref_src=twsrc%5Etfw">$GPN</a> pro forma for recent mergers by Tien-tsin Huang of JPM, arguably best payments analyst on the Street. Few observations:<br />
1) Business mix favors GPN, growth least reliant on synergies. FIS most diversified, FISV most scale/defensive <a href="https://t.co/BIxhNFEhK0">pic.twitter.com/BIxhNFEhK0</a></div>
— CORE Dental DDS (@CoreDentalDDS) <a href="https://twitter.com/CoreDentalDDS/status/1191350702343372801?ref_src=twsrc%5Etfw">November 4, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$UA Thread</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Some thoughts on Under Armour <a href="https://twitter.com/search?q=%24UA&src=ctag&ref_src=twsrc%5Etfw">$UA</a> <a href="https://twitter.com/search?q=%24UAA&src=ctag&ref_src=twsrc%5Etfw">$UAA</a></div>
— CT Capital (@CrowdedTradeCap) <a href="https://twitter.com/CrowdedTradeCap/status/1191276108051894272?ref_src=twsrc%5Etfw">November 4, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Thread about small growing companies $POLA, $EMGC, </u></span><u style="color: red; font-family: quicksand, sans-serif; font-size: x-large;">$</u><u style="color: red; font-family: quicksand, sans-serif; font-size: x-large;">ASPS</u><u style="color: red; font-family: quicksand, sans-serif; font-size: x-large;">, $BTU</u><u style="color: red; font-family: quicksand, sans-serif; font-size: x-large;">, $SD</u><u style="color: red; font-family: quicksand, sans-serif; font-size: x-large;">, $STNG</u><u style="color: red; font-family: quicksand, sans-serif; font-size: x-large;">, $LPG</u><u style="color: red; font-family: quicksand, sans-serif; font-size: x-large;">, $SHIP</u><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
I’m amazed at how many small growing profitable companies trade for less than working capital or for less than 5x FCF. Its one of the strangest pricing environments I can remember. also amazed at how most of these keep declining for the past 2 years as small cap gets liquidated <a href="https://t.co/Nxim6jgfex">https://t.co/Nxim6jgfex</a></div>
— Kuppy (@hkuppy) <a href="https://twitter.com/hkuppy/status/1190959719252250624?ref_src=twsrc%5Etfw">November 3, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$V or $MA - read the whole discussion</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Can’t go wrong with either as other have commented, all points already mentioned valid. Ultimately difference boils down to 1) growth vs resiliency and 2) degree of willingness to disrupt vs. preserve the status quo. Some of it is structural, some is due to strategic decisions</div>
— CORE Dental DDS (@CoreDentalDDS) <a href="https://twitter.com/CoreDentalDDS/status/1190594748500893697?ref_src=twsrc%5Etfw">November 2, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$PIOE Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Very un-spooky earnings from P10 Holdings <a href="https://twitter.com/search?q=%24PIOE&src=ctag&ref_src=twsrc%5Etfw">$PIOE</a> this Halloween. <a href="https://t.co/Ixd5xKn41f">https://t.co/Ixd5xKn41f</a><br />
<br />
Now doing 5 cents/share in quarterly free cash flow with shares at $1.35.</div>
— Dave Waters (@alluvialcapital) <a href="https://twitter.com/alluvialcapital/status/1190039602188496896?ref_src=twsrc%5Etfw">October 31, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$W Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24W&src=ctag&ref_src=twsrc%5Etfw">$W</a> reported earnings this morning. More of the same. Stock down 17% today and it is not surprising to see why, in light of their poor fundamental performance. <br />
<br />
Main highlights: <br />
--CAC moves up sharply to $93.3 (!) [1/3] <a href="https://t.co/h33lDVEuVa">pic.twitter.com/h33lDVEuVa</a></div>
— Daniel McCarthy (@d_mccar) <a href="https://twitter.com/d_mccar/status/1189893846999670784?ref_src=twsrc%5Etfw">October 31, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Chartstravaganza</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Chartstravaganza brings the world to life with charts … because the known universe is just too big <a href="https://t.co/1CEQB6RdEG">pic.twitter.com/1CEQB6RdEG</a></div>
— Plan Maestro (@PlanMaestro) <a href="https://twitter.com/PlanMaestro/status/1191003986112995328?ref_src=twsrc%5Etfw">November 3, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$PUMP Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1) We are short ProPetro Holding Corp <a href="https://twitter.com/search?q=%24PUMP&src=ctag&ref_src=twsrc%5Etfw">$PUMP</a>. Full report now available at <a href="https://t.co/lOMAMgmy60">https://t.co/lOMAMgmy60</a></div>
— Culper (@CulperResearch) <a href="https://twitter.com/CulperResearch/status/1189898977224921088?ref_src=twsrc%5Etfw">October 31, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Effortless Stoicism Thread</u></span><br />
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Effortless Stoicism, a thread.</div>
— James Pierce (@jimmpierce) <a href="https://twitter.com/jimmpierce/status/1190810962493788160?ref_src=twsrc%5Etfw">November 3, 2019</a></blockquote>
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-85593941493746267722020-02-07T11:50:00.000-05:002020-04-12T13:15:42.981-04:00<h2>
<span style="font-size: x-large;">Fund Management Letters</span></h2>
<span style="font-size: medium;"><br /></span><span style="font-size: medium;">Just reposting with new letters. Have fun reading.</span><br />
<hr />
<span style="font-size: large;">4th Quarter 2019</span><br />
<br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5e03bb9dcc191357f10902ad/t/5e35af9e12c5156ca6085326/1580576670740/Q4%2719+letter.pdf" target="_blank">1 Main Capital Partners</a> - ($ISDR, $RICK, $TSSI, $DPZ)</li>
<li><a href="https://drive.google.com/file/d/1ANcyf36aA9H83xfjYF3N5Z6Rc2YaS75q/view" target="_blank">2Point2 Capital</a></li>
<li><a href="https://gallery.mailchimp.com/f6660ee7c7b25c0643c0e8337/files/53f90575-0084-456e-b563-3e47282ae860/Admiral_Cap_4Q19_Letter.pdf">Admiral Capital Partners Fund</a> - ($CVNA, $GDDY, $GTT).</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2020/01/Alluvial-Capital-Management-Q4-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($PIOE, $CRAWA, $BUKS, $NUVR, $LICT)</li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5e3633d4cd5a0d4354e18334/1580610521595/Q4+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a></li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q4.pdf" target="_blank">Alphyn Capital Management</a></li>
<li><a href="https://drive.google.com/file/d/1OSNsquPrryvmnAYEPpfK8VMGtb5qSILE/view" target="_blank">Andaz Private Investments</a></li>
<li><a href="https://ift.tt/2TwwgOx" target="_blank">Andvari Associates</a></li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($ARDX, $SAVE, $MOS, $SINA, $SNE, $RYAAY).</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/">Ariel Funds</a> - ($CCL, $NLSN).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/APFDX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Global Discovery Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTMX-APDMX-APHMX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($SWKS, $TW, $CMS, $UA, $ABMD, $ZS, $BURL, $AMD, $ANET, $SERV, $DXCM).</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTSX-APDSX-APHSX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/4q/ARTLX-APDLX-APHLX-QCommentary-4Q19-vR.pdf" target="_blank">Artisan Value Fund</a></li>
<li><a href="https://www.hvst.com/posts/artko-capital-4q-2019-partner-letter-w57TvkLz" target="_blank">Artko Capital</a> - ($MO, $REPH, $GAIA, $RSSS)</li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2020/02/2020-02-17-Askeladden-Capital-Q4-2019-Letter-Breaking-Bad.pdf">Askeladden Capital</a></li>
<li><a href="https://content.rwbaird.com/RWB/Content/PDF/AssetManagement/Q3-2019-Mid-Cap-Growth-Mutual-Fund-Commentary.pdf">Baird MidCap Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Asset Fund</a> - ($DXCM, $SAGE).</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Focused Growth</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Growth Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Discovery Fund</a> - ($PGNY, $ESPR, $SIEN, $SITE, $ICHR, $TXMD, $MRCY, $FSCT, $TCMD, $SCPPF, $OLLI, $BRP, $CDNA).</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%2012.31.19_0.pdf" target="_blank">Baron Partners Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Small Cap Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Real%20Estate%20Fund%20Letter%2012.31.19.pdf" target="_blank">Baron Real Estate Fund</a></li>
<li><a href="http://www.bernzott.com/uploads/1/5/9/5/15953620/2019_12_31_bca_scv_marketcomm.pdf?utm_source=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+4Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $PLOW, $LOGM, $MG, $MIK, $CNK, $CTLT, $EPAM, $AGS).</li>
<li><a href="https://s3.amazonaws.com/bireme/4Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html">Bireme Capital</a> - ($KRG, $DNKN)</li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2020/01/Q4-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a></li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5e2e81226ba9076709046053/1580106019545/2019+Q4.pdf" target="_blank">Blue Tower Asset Management</a></li>
<li><a href="http://boyarvaluegroup.com/bvg-pdf/4Q_2019_BoyarResearch.pdf?utm_campaign=Quarterly%20Letter&utm_source=hs_email&utm_medium=email&utm_content=82628381&_hsenc=p2ANqtz-_eFJS4AvVpyZPJ93cqx7hT_a3Ecgy_iQ8I_KJWvq6pyI5hY8KWOrRF3lJXq2wgq7vsVrrVKm3ExXWqv88qtB2prmxWqg&_hsmi=82628381" target="_blank">Boyar Group</a></li>
<li><a href="https://browncapital.com/system/files/mcf4q19commentary.pdf" target="_blank">Brown Capital Management Mid Company Fund</a></li>
<li><a href="https://browncapital.com/system/files/scf4q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($VEEV, $GKOS, $TNDM, $SMAR).</li>
<li><a href="https://browncapital.com/system/files/ief4q19commentary.pdf" target="_blank">Brown Capital Management International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf4q19commentary.pdf" target="_blank">Brown Capital Management International Small Company Fund</a></li>
<li><a href="https://www.broyhillasset.com/wp-content/uploads/2020/02/The-Broyhill-Letter-2020.02-FINAL.pdf">Broyhill Asset Management</a></li>
<li><a href="https://bumbershootholdingsdotcom.files.wordpress.com/2020/01/bumbershoot-holdings-2020-1-jan-letter-to-partners-2019-1.pdf" target="_blank">Bumbershoot Holdings</a></li>
<li><a href="https://www.carillontower.com/-/media/rj/affiliate-sites/carillon-tower/funds/fund-commentary/eagle_mcg_fund_commentary.pdf">Carillon Eagle Mid Cap Growth Fund</a></li>
<li><a href="https://citronfund.com/wp-content/uploads/2020/01/Citron-Capital-Annual-Investor-Letter-for-2019.pdf" target="_blank">Citron Capital</a> - ($RH, $PTON).</li>
<li><a href="https://www.dropbox.com/sh/imqj7tk724xpw7n/AAB1u8DA3Um08fL_jC2IDKuPa?dl=0&preview=Coho+Capital+2019+Q4+Letter.pdf">Coho Capital</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5e181bff65c626738a349429/1578638336674/FY2019.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($YUMC, $FRRVF, $PTC)</li>
<li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5e3048cf9826d330d5c2854e/1580222671293/Q4+and+YE+2019+Letter.pdf" target="_blank">Curreen Capital</a></li>
<li><a href="https://danwang.co/2019-letter/" target="_blank">Dan Wang</a></li>
<li><a href="https://davisfunds.com/downloads/DFFPMComm.pdf" target="_blank">Davis Financial Fund</a>.</li>
<li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a></li>
<li><a href="https://davisfunds.com/downloads/DIFAnnualReview.pdf" target="_blank">Davis International Fund</a></li>
<li><a href="https://davisfunds.com/downloads/DNYVFPMComm.pdf" target="_blank">Davis New York Venture Fund</a></li>
<li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf">Del Principe O’Brien Financial Advisors</a></li>
<li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Midcap-Letter-4Q19.pdf" target="_blank">DF Dent Midcap Growth</a> - ($ODFL, $TWLO, $VEEV, $ANSS, $MCO, $CBRE, $VRSK, $VMC, $MKL).</li>
<li><a href="http://dfdent.com/wp-content/uploads/2020/01/DF-Dent-Small-Cap-Letter-4Q19.pdf" target="_blank">DF Dent Small Cap Growth</a></li>
<li><a href="https://www.diamond-hill.com/wp-content/uploads/191231_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li>
<li><a href="https://gallery.mailchimp.com/90031b83688dd5c83d79fcf31/files/48eecab4-b7af-4d56-8e05-f3d54f33d10f/DKAM_ROE_Reporter_January_2020_.pdf" target="_blank">Donville Kent Asset Management</a></li>
<li><a href="https://www.nsx.com.au/ftp/news/021737727.PDF" target="_blank">East 72 Holdings</a></li>
<li><a href="https://gallery.mailchimp.com/dd77d6a119e511a93e9308144/files/98e445bf-1c22-4a23-8a6b-1d71d798899f/Edgebrook_Mid_Year_Letter_2019.pdf" target="_blank">Edgebrook Partners</a> - ($APEUF)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2019/" target="_blank">Ensemble Fund</a> - ($PAYX, $BR)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q4_2019.pdf">Evermore Global Value Fund</a> - ($IAC, $MTCH, $ANGI, $STNG, $KRA, $ENZ).</li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15183252/Q4-2019-Broadview-Dark-Horse-Quarterly-Letter.pdf" target="_blank">Ewing Morris Dark Horse</a> - ($LQSIF)</li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2020/01/15170401/Q4-2019-Final-1.pdf" target="_blank">Ewing Morris Opportunities Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-12_final.pdf?sfvrsn=8">FPA Capital Fund</a></li>
<li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2019.pdf?sfvrsn=6" target="_blank">Fundsmith Equity Fund</a></li>
<li><a href="http://gatorcapital.com/wp-content/uploads/2020/01/GFP-Q4-Investor-Letter-Updated.pdf" target="_blank">Gator Capital Management</a></li>
<li><a href="http://www.givernycapital.com/en/doc/236/Giverny_Capital_-_Annual_Letter_2019_web_.pdf">Giverny Capital</a></li>
<li><a href="http://www.goodhavenfunds.com/media/pdfs/2019_AR.pdf" target="_blank">GoodHaven Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5e4703048934db2c06ec56ae/1581712134756/Greenhaven+Road+Letter+%282019+Q4%29.pdf">Greenhaven Road Capital</a></li>
<li><a href="https://www.scribd.com/document/443770600/Greenlight-Q4-2019#download&from_embed" target="_blank">Greenlight Capital</a> - ($AER, $AGO, $ATC, $BHF, $CC, $GM, $GRBK, $NFLX, $DXC).</li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2020.01.23-Q4-Letter-v5.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-4Q19-Report.pdf">Harding Loevner Global Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/IE/2019/IE-4Q19-Report.pdf">Harding Loevner International Equity</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/ISC/2019/ISC-4Q19-Report.pdf">Harding Loevner International Small Companies Equity</a> - ($GUZOF, $ALICORC1, $PGENY).</li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-4Q19-Report.pdf">Harding Loevner Global Small Companies</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q4.pdf">Hayden Capital</a> - ($SE).</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a> - ($LEG, $EXC, $UMBF)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SCHW, $GTS, $CONE).</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TBBK, $AMRC)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-4Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a> - ($ASB, $PAHC)</li>
<li><a href="http://www.hgcinvest.com/wp-content/uploads/2020/01/HGC-Arb-Letter-December-2019.pdf" target="_blank">HGC Investment Management</a> - ($GSAC, $DEAC).</li>
<li><a href="https://www.hoisingtonmgt.com/pdf/HIM2019Q4NP.pdf">Hoisington Investment Management</a></li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q4-2019-Horizon-Kinetics-Commentary_FINAL.pdf" target="_blank">Horizon Kinetics</a></li>
<li><a href="https://horosam.com/wp-content/uploads/Letter-to-our-co-investors-4Q19.pdf">Horos Asset Management</a></li>
<li><a href="https://www.dropbox.com/s/wj5xngs5dpjc0la/Huffman%20Prairie%20-%202H2019%20Partnership%20Letter.pdf?dl=0" target="_blank">Huffman Prairie</a> - ($PKE)</li>
<li><a href="https://l1international.com/wp-content/uploads/2020/01/L1-Capital-International-Fund-Quarterly-2019-12.pdf" target="_blank">L1 Capital International Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5d93ed0b59166652b0d66427/t/5e3b0e94a8e0ad4a457d4a5e/1580928660765/Laughing+Water+Capital+YE+2019.pdf">Laughing Water Capital</a></li>
<li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/lt-uk-fund/2019/LTUK_MR_2019_12.pdf" target="_blank">Lindsell Train</a></li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5e33310f6cac3d0b6f0a070d/1580413200079/4Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $CTEK, $SFE, $PESI)</li>
<li><a href="https://southeasternasset.com/commentary/4q19-llpf-commentary/">Longleaf Partners Fund</a></li>
<li><a href="https://www.lyricalam.com/wp-content/uploads/2020/01/LAM-2019-Review-letter.pdf" target="_blank">Lyrical Asset Management</a></li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5e323c32f8043d0750f9a1f1/1580350515744/Maran+Partners+Fund+LP+2019+Q4+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RNGR, $SDI).</li>
<li><a href="https://www.mcmadvisors.com/wp-content/uploads/2020/01/Martin-Capital-Management-2019-Annual-Report.pdf" target="_blank">Martin Capital Management</a></li>
<li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Year%20End%20Letter.pdf?utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-8wWAtvLCSJ92jhQUdjS_UF5sLUTcGZPdtnlxPMJfKIFGmlgVgnj1U2Yj9GHeBoCbudkm9l" target="_blank">Massif Capital</a></li>
<li><a href="https://aaeb3abf-7695-4658-9578-7ccbe48af5ed.filesusr.com/ugd/f6ee8c_4b6d6eb57e724504b2acd6925fe444a6.pdf" target="_blank">Merion Road Capital</a> - ($TTWO, $ODP)</li>
<li><a href="https://millervaluefunds.com/wp-content/uploads/pdf/miller-opportunity-trust-commentary.pdf">Miller Value Fund</a> - ($FTCH, $ET, $CDEV).</li>
<li><a href="https://www.moneta.fr/documents/Lettre_MLS_part_A_FR_en_2019_12.pdf" target="_blank">Moneta Long Short A</a></li>
<li><a href="https://www.moneta.fr/documents/Lettre_MMC_part_C_FR_en_2019_12.pdf" target="_blank">Moneta MultiCaps C</a></li>
<li><a href="https://drive.google.com/file/d/1HXfARV-D0Ty0LjixHFdMQc9keEOyV3XN/view" target="_blank">MPE Capital</a> - ($CACC).</li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2020/01/2019-Nelson-Roberts-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($IBM)</li>
<li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Fourth-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a></li>
<li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_1eee8738221f439bacc164cda1472ccf.pdf">Old West Investment Management</a> - ($GOLD)</li>
<li><a href="https://www.osam.com/pdfs/research/Q4%202019%20Investor%20Letter%20-%20FINAL.pdf" target="_blank">O’Shaughnessy Asset Management</a></li>
<li><a href="https://www.palmharbourcapital.com/files/PHC%20Q4%202019%20Letter.pdf" target="_blank">Palm Harbour Capital</a></li>
<li><a href="https://9d818c09-f111-477c-94f9-713af784f4df.filesusr.com/ugd/ef2f99_7f7cfd9362f1496597164ec1ee5a1757.pdf" target="_blank">Palm Valley Capital Fund</a></li>
<li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/dab30c88-52e6-425d-94a0-2f672f543d3f/4Q19%20Parnassus%20Core%20Equity%20Fund%20Commentary.pdf">Parnassus Core Equity Fund</a></li>
<li><a href="https://assets-us-01.kc-usercontent.com/094ee837-48bb-001c-6959-053670061ebf/fc4897bd-50cb-43fb-9296-bddb814716c6/4Q19%20Parnassus%20Mid%20Cap%20Fund%20Commentary.pdf">Parnassus Mid Cap Fund</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Focus-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $CRM, $ABT, $NOW, $ORCL).</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_Global-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - Global Growth</a> - ($MSFT, $BABA, $ABT)</li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Growth_Commentary-4Q2019.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_International-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - International Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/wp-content/uploads/Polen_US-Small-Company-Growth_Commentary-4Q2019.pdf">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5e66d8317891847c6cd48c38/1583798321575/RF+Capital+Q4+2019+Investor+Letter.pdf">RF Capital Management</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2020/01/2019-Year-End-Commentary_FINAL.pdf" target="_blank">RGA Investment Advisors</a> - ($ANGI, $DBX, $GRUB, $TWTR)</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_4Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($AAPL, $UNH, $BX, $MSFT, $ADSK, $SDC, $TWTR, $NOC, $TDC, $TWLO).</li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplsof/commentary/RiverPark_Long_Short_Opportunity_Fund_4Q19.pdf" target="_blank">RiverPark Long/Short Opportunity Fund</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rpwf/commentary/RiverPark_Wedgewood_Fund_4Q19_Investor_Letter.pdf" target="_blank">RiverPark/Wedgewood Fund</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li>
<li><a href="http://rltcapital.com/wp-content/uploads/2020/01/Dont-Cha-Know.pdf" target="_blank">RLT Capital</a></li>
<li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Fund.pdf">RMB Fund</a></li>
<li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-Small-Cap-Fund.pdf">RMB Small Cap Fund</a></li>
<li><a href="https://rmbfunds.com/wp-content/uploads/2020/01/2019-12-31-Commentary-RMB-SMID-Cap-Fund.pdf">RMB SMID Cap Fund</a></li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/aaf68a26-7a10-4c45-bfe1-fb0cb97b85d1/Saber_Investment_Fund_Q4_2019_Letter.pdf" target="_blank">Saber Capital Management</a></li>
<li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_c69e35b055894d1aad827cde8423bc2f.pdf">Saga Partners</a> - ($TTD, $LIMAF, $FB, $LGIH, $VSEC, $CVNA)</li>
<li><a href="https://www.saturna.com/sites/default/files/Sustainable-Q4-2019-web.pdf">Saturna Capital</a></li>
<li><a href="https://www.saturna.com/sites/default/files/Amana-Q4-2019-web.pdf">Saturna Capital - AmanaFunds</a></li>
<li><a href="https://www.saturna.com/sites/default/files/Sextant-Q4-2019-web.pdf">Saturna Capital - Sextant Funds</a></li>
<li><a href="https://static.fmgsuite.com/media/documents/c388840b-3dda-41da-a062-077bf785255b.pdf">Semper Augustus</a></li>
<li><a href="https://www.ruanecunniff.com/Download.aspx?ID=7a947f03-c188-49d6-b32f-9cddfe5ebb9a&Name=Q4_2019_-_Investor_Letter" target="_blank">Sequoia Fund</a></li>
<li><a href="https://gallery.mailchimp.com/57cdfc490b101d54b70128c06/files/a813a300-8f68-43cb-8b3d-2fa28aed58fb/SilverRingValuePartners_2019Q4_Letter.pdf" target="_blank">Silver Ring Value Partners</a></li>
<li><a href="https://smeadcap.com/files/9315/7910/2122/4Q_2019_Shareholder_Letter_Smead_Value_Fund.pdf">Smead Value Fund</a></li>
<li><a href="https://www.socialcapital.com/annual-letters/2019.pdf">Social Capital</a></li>
<li><a href="https://1ff55a09-c905-429a-8983-9112f20bb3a2.filesusr.com/ugd/de07f6_d91d278701ba4b21afd564ffabb36d1f.pdf" target="_blank">Spree Capital</a> - ($RST, $MTCH, $FERGY).</li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/2019-Annual-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($TARO, $EGRX, $ELMD)</li>
<li><a href="https://taovalue.files.wordpress.com/2020/02/taovalue_2019_q4_final.pdf">Tao Value</a></li>
<li><a href="https://www.langfrist.de/dokumente/2019_e_Rubicon_full.pdf" target="_blank">TGV Rubicon Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($GPOR.L, $HHC, $PSA, $VNO, $SRG, $FPH).</li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2020/01/2019-Q4-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BMWYY, $DB, $MAC).</li>
<li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2020/01/Third-Point-Q4-2019-Letter-TPOI-Final.pdf" target="_blank">Third Point</a></li>
<li><a href="http://www.turtlecreek.ca/uploads/pdf/quarterlycommentary/Quarterly_Commentary-2019-Q4.pdf" target="_blank">Turtle Creek Equity Fund</a></li>
<li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q4%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Funds</a></li>
<li><a href="https://mcusercontent.com/2506bda6ca9a8b7ce8b3c54b4/files/0c17bc16-6a20-4c24-8459-53e800315fe7/TARF_2019_Annual_Commentary_vFinal.pdf" target="_blank">Tyro Capital Management</a> - ($MO, $REPH, $SKY, $SMCI, $MTCH, $UBSFF, $BXC, $MYOV)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5e209a872cfe3e653d0bd4bd/1579195017065/Upslope+-+2019Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FOCS, $DLTR)</li>
<li><a href="https://www.dropbox.com/s/lgqbpo4oownzo5m/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q4%202019%20%28V1.1%29.pdf?dl=0&utm_source=The+Vilas+Fund%2C+LP&utm_campaign=d48e03b6f7-4Q2019+Main&utm_medium=email&utm_term=0_d81d32d2af-d48e03b6f7-431110445" target="_blank">Vilas Fund</a></li>
<li><a href="http://www.vltavafund.com/data/dopisy/dopis_58_en.pdf" target="_blank">Vltava Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Core-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Core Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Micro-Cap-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Micro Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Growth Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/SC-Value-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Small Cap Value Fund</a></li>
<li><a href="https://wasatchglobal.com/wp-content/uploads/2019/11/Ultra-Growth-Fund-Q4-2019-FNL.pdf" target="_blank">Wasatch Ultra Growth Fund</a></li>
<li><a href="https://www.asx.com.au/asxpdf/20200108/pdf/44d49tnm31r1hz.pdf" target="_blank">WCM Global Growth</a></li>
<li><a href="https://66586259-e635-40d5-bf11-9d22ba98eca0.filesusr.com/ugd/5bfe4b_b41d00a2669749f4babb2c468e820ecd.pdf" target="_blank">Wedgewood Partners</a> - ($GOOG\$GOOGL, $BKNG, $CPRT, $FLT, $SPGI, $TSCO).</li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/hickory-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Hickory Fund</a></li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-iii-opportunity-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners III Opportunity Fund</a> - ($SIRI, $LSXMB, $EVREF).</li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/partners-value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Partners Value Fund</a></li>
<li><a href="https://weitzinvestments.com/sitefiles/live/documents/funds/commentary/value-fund-commentary.pdf?c=637154850560000000" target="_blank">Weitz Value Fund</a></li>
<li><a href="https://whitebrookcapital.app.box.com/s/ds32xz73grnzqbxdargxzancsg91q7it" target="_blank">White Brook Capital</a></li>
<li><a href="https://gallery.mailchimp.com/d194e1b3fd218137abdb074da/files/a8558333-dad0-40c8-8abd-8468fb20e0f9/2020_01_21_WCMSF_Q4_2019_Letter.pdf" target="_blank">White Crane Capital</a></li>
<li><a href="https://www.docdroid.net/tJT1NRd/wolf-hill-2019-year-end-letter.pdf" target="_blank">Wolf Hill Capital</a> - ($CNR, $REGI, $WTSHF)</li>
<li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5e1d007471426f2f29068da4/1578958966239/Worm+Capital+2019+Year+End+Letter.pdf" target="_blank">Worm Capital</a></li>
</ul>
<br />
<br />
<span style="font-size: large;">3rd Quarter 2019</span><br />
<br />
<div>
<br />
<ul>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2019/10/Alluvial-Capital-Management-Q3-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $LICT, $NUVR, $APTL, $NORSA, $PIOE, $MHGU, $ITD.IM, $EDAC.IM, $SIO.IM)</li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q3.pdf" target="_blank">Alphyn Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5db8fdd21b54db1101ac3c18/1572404691231/Q3+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($KRMD, $KYYWF, $STKS)</li>
<li><a href="https://www.docdroid.net/I8sosdq/andaz-notes-2019-09-30.pdf" target="_blank">Andaz Private Investments</a> - (CBS.B, $VIAB)</li>
<li><a href="https://ift.tt/35Tb1KD" target="_blank">Andvari Associates</a></li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/11/APPLX-2019-Annual-Report-Letter.pdf" target="_blank">Appleseed Fund</a> - ($SINA, $WB, $MOS, $SAVE, $ARDX, $SNE, $RYAAY)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/eb95b5c5-e141-4f87-b0d5-95d5e1a7a2a5/Arquitos_Investor_Letter_Q3_2019.pdf" target="_blank">Arquitos Capital</a> - ($MMAC, $WEDXF)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,212/" target="_blank">Ariel Funds</a> - ($BX, $BWA, $DIFTY, $ZBH)</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTMX-APDMX-APHMX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a> - ($ALXN, $EXAS, $GDI, $GWRE, $CTLT, $BURL, $PAGS, $LHX, $ANET, $ASND)</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/3q/ARTSX-APDSX-APHSX-QCommentary-3Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-3q-2019-partner-letter-EvrTnLGB" target="_blank">Artko Capital</a> - ($FTK, $LEAF, $SKY, $USAT, $EEI, $SPAR)</li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/11/2019-10-28-Askeladden-Capital-Q3-2019-Letter-Earn-It.pdf" target="_blank">Askeladden Capital</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Asset%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Asset Fund</a> - ($CCC)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Focused Growth</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Growth Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Health%20Care%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Health Care Fund</a> - ($TMO, $ZBH)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Discovery%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Discovery Fund</a> - ($TXMD, $FND, $TREX, $MRCY, $KNSL $VRAY, $SILK, $BE, $CDNA, $TPIC, $MDLA, $PING, $WMS, $VRNS, $INGN)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Partners%20Fund%20Letter%209.30.19.pdf" target="_blank">Baron Partners Fund</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Investor%20-%20Baron%20Small%20Cap%20Fund%203Q19.pdf" target="_blank">Baron Small Cap Fund</a> - ($CDAY, $CCC, $COLD)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $SP, $PLOW, $OI, $AGS, $QUOT,$ CTLT, $EPAM, $KN, $CLDR, $AGS, $GNRC)</li>
<li><a href="https://s3.amazonaws.com/bireme/3Q19%20FV%20-%209db490eb-14b6-4c3b-96ec-ac64fbdd22d7.html" target="_blank">Bireme Capital</a> - ($HCA, $COKE)</li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/10/Q3-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($SFIX, $GRUB, $MTCH, $NFLX)<span id="goog_146329209"></span><a href="https://www.blogger.com/"></a><span id="goog_146329210"></span></li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5dad22ac218aa17443c4035b/1571627692663/2019+Q3.pdf" target="_blank">Blue Tower Asset Management</a> - ($EZPW)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2d3eecc8-c31e-45c7-8c24-e0e1a8269ac3/1019_BCM__Partner_Letter_Q3_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $CAMB.LN)</li>
<li><a href="https://browncapital.com/system/files/scf3q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a> - ($TYL, $MANH, $ABMD, $INGN)</li>
<li><a href="https://browncapital.com/system/files/mcf3q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a> - ($EW, $TYL, $ALGN, $ULTA, $MKTX, $CRL, $JBHT)</li>
<li><a href="https://browncapital.com/system/files/ief3q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a> - ($CZMWF, $ESLOY, $QGEN, $IPSEF, $MONOY)</li>
<li><a href="https://browncapital.com/system/files/iscf3q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/10/2019-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> ($RUBI, $BXC, $HOME, $QMCO)</li>
<li><a href="https://drive.google.com/file/d/1jzHBEfehpV9TfzwFhiGl91UMVtnGwWjS/view">Compound Everyday Capital</a></li>
<li><a href="https://gallery.mailchimp.com/a6cd0be2415ea775a57718587/files/14809e7f-2f16-4cb8-8fb3-8c589f63c6ed/50._Q3_2019.pdf" target="_blank">Compound Money Fund</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5db88acf71786e4ef3228683/1572375248129/2019Q3.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($IPGLF, $NVST, $A, $FRC)</li>
<li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5da0d2a16603d478b62581b4/1570820769906/Q3+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($GTX, $KTB, $MFGP, $BLD)</li>
<li><a href="https://davisfunds.com/downloads/DFFInterview.pdf" target="_blank">Davis Financial Fund</a></li>
<li><a href="https://davisfunds.com/downloads/DGFCommentary.pdf" target="_blank">Davis Global Fund</a> - ($JD, $AMAT)</li>
<li><a href="https://davisfunds.com/document/read/DNYPMComm" target="_blank">Davis New York Venture Fund</a></li>
<li><a href="https://static1.squarespace.com/static/54b59f33e4b0f0db960a7ad3/t/5ddbecfac040f62cf1686ef4/1574694139138/Del+Principe+O%27Brien+November+2019+Letter.pdf" target="_blank">Del Principe O’Brien Financial Advisors</a></li>
<li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/bf83181f-b69f-4ece-a640-a4007c15ed07/Q3_2019_Investor_Letter_Desert_Lion_Capital.pdf" target="_blank">Desert Lion Capital</a></li>
<li><a href="https://www.diamond-hill.com/wp-content/uploads/190930_Diamond-Hill_Small-Cap-Fund-Commentary.pdf" target="_blank">Diamond Hill Small Cap Fund</a></li>
<li><a href="http://east72.com.au/wp-content/uploads/2019/10/E72-Quarterly-Report-Sept-2019.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $DTLA, $FFXDF, $VULC, $PICO)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2019/" target="_blank">Ensemble Fund</a> - ($MA, $TIF)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q3_2019.pdf" target="_blank">Evermore Global Value Fund</a></li>
<li><a href="https://s3.amazonaws.com/ewingmorris/wp-content/uploads/2019/10/07164955/Quarterly-Update-Q3-2019.pdf" target="_blank">Ewing Morris</a></li>
<li><a href="https://www.fmimgt.com/fmi/funds/shrpt/ann_shrpt_093019.pdf" target="_blank">Fiduciary Management FMI Large Cap</a> - ($HDS)</li>
<li><a href="https://t.co/3lQBLZ89rY?amp=1" target="_blank">Firebird Management</a> - ($LNC, $GES)</li>
<li><a href="https://focusedcompounding.com/wp-content/uploads/2017/06/Q3_2019_Letter_to_Clients-1.pdf" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI, $TPHS, $KEWL, $MLP)</li>
<li><a href="https://www.asx.com.au/asxpdf/20191011/pdf/449dftp5k138nd.pdf" target="_blank">Forager Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-fund-commentary-2019-q3b0f6f4531b0367849d6cff0000f7084a.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-09.pdf?sfvrsn=8" target="_blank">FPA Capital Fund</a> - ($AMBA, $NBL, $DAN, $IDCC)</li>
<li><a href="http://gatorcapital.com/wp-content/uploads/2019/10/GFP-Q3-Investor-Letter.pdf" target="_blank">Gator Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5daa7eaeab96a61181bef76f/1571454639744/Greenhaven+Road+Letter+%282019+Q3%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($NTDOY, $CSSE, $KKR, $BXC, $APPS, $PAR, $SHSP, $GIGRT, $GIGWS)</li>
<li><a href="https://www.docdroid.net/hM7Tnw8/qlet2019-032.pdf" target="_blank">Greenlight Capital</a> - ($NFLX, $TSLA, $CC)</li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.11.14-Q3-Letter.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://ift.tt/34FFgn5" target="_blank">Goehring & Rozencwajg</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q3.pdf" target="_blank">Hayden Capital</a> - ($CACC)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Mid-Cap-Value-Fund/Heartland-Mid-Cap-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Mid Cap Value Fund</a></li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Select-Value-Fund/Heartland-Select-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Select Value Fund</a> - ($SAFM, $MHK, $CVS)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($VST, $LNDC)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Plus-Fund/Heartland-Value-Plus-Fund-3Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Plus Fund</a></li>
<li><a href="https://www.docdroid.net/pCmtahr/hellerhouseopportunityfund-2019q2letter-public.pdf#page=17" target="_blank">Heller House Opportunity Fund</a> - ($SHOP $WORK $ROKU)</li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q3-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a></li>
<li><a href="https://www.dropbox.com/s/l24e3ilw0j2kkyq/Lightsail%203Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li>
<li><a href="https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/investment-insights/2019/Are%20You%20Experienced%20-%20November%202019.pdf" target="_blank">Lindsell Train</a></li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5db9dbd123316d682a695a20/1572461522295/3Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $PSSR, $SIFY, $INS, $CTEK, $TBTC)</li>
<li><a href="https://southeasternasset.com/commentary/3q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CTL, $GOOG, $GOOGL, $CMCSA, $GE, $FDX, $FRFHF)</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5db9f8173907823b364ebba8/1572468760093/Maran+Partners+Fund+LP+2019+Q3+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $RCMT)</li>
<li><a href="https://cdn2.hubspot.net/hubfs/4518141/Massif%20Capital%20Third%20Quarter%20Letter%20to%20Investors.pdf" target="_blank">Massif Capital</a> - ($DO, $TOO, $EAF, $DE, $UNP, $CSX, $NCLH)</li>
<li><a href="https://docs.wixstatic.com/ugd/f6ee8c_adb2e39184484fd5a9374a1b8ddad5fe.pdf" target="_blank">Merion Road Capital</a> - ($HXL, $IAA, $TRNS)</li>
<li><a href="https://www.hvst.com/organization/meson-capital-partners-llc/posts/meson-q3-update-man-vs-machine-wPZT3xZx" target="_blank">Meson Capital</a></li>
<li><a href="https://brookvine.com.au/wp-content/uploads/2019Q3_Mittleman-Global-Value-Equity-Fund_Quarterly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/10/2019-Q3-Nelson-Roberts-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($SIVB, $SCHW, $AKAM, $PFE, $DLR)</li>
<li><a href="https://www.oakmark.com/Commentary/Global-Select/Oakmark-Global-Select-Fund-Commentary-Third-Quarter-2019.htm" target="_blank">Oakmark Global Select Fund</a> - ($GOOG, $CHTR, $DDAIF, $APA)</li>
<li><a href="https://5d31a235-c572-46b5-a039-5967f80e8189.filesusr.com/ugd/718a37_fe35b044b6f9420aa65670c4b7dfbf7f.pdf" target="_blank">Old West Investment Management</a></li>
<li><a href="https://docs.wixstatic.com/ugd/ef2f99_2044e47207184e0a96223be92f96d4b5.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.B, $CRD/B, $GENC)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a> - ($ALGN, $IT, $MSCI)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a> - ($ALGN, $ABT, $SGSOY)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a> - ($TREX, $FND, $LMAT, $FOXF, $OLLI, $TREE, $APPF, $ALTR)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-3Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="https://files.constantcontact.com/07cbbb80601/d7746d56-0340-44ba-b2d3-fb41d43a159a.pdf" target="_blank">Rangeley Capital</a> - ($CHTR)</li>
<li><a href="https://static1.squarespace.com/static/597730804402434deaa7f5aa/t/5db930e3f152967e525fbd89/1572417764733/RF+Capital+Q3+Letter+2019.pdf" target="_blank">RF Capital Management</a> - ($FL, $GAPFF, $ZAGG, $GME, $GTX)</li>
<li><a href="http://www.rgaia.com/q32019-investment-commentary-kambi/" target="_blank">RGA Investment Advisors</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_3Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($GOOG, $BX, $AAPL, $NOC, $EQIX, $EXAS, $ALGN, $AMZN, $SDC, $ULTA, $TWLO)</li>
<li><a href="http://www.rmbcap.com/files/RMB_Core_Equity_-_Investor_Letter_3Q19.pdf" target="_blank">RMB Core Equity Fund</a></li>
<li><a href="https://themarketplunger.com/2019/11/12/q3-2019-letters/" target="_blank">Rockvue Capital</a> - ($UAA, $FOX)</li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/4d8542a4-48be-4664-bc79-6506621e8100/Saber_Investment_Fund_Q3_Letter.pdf" target="_blank">Saber Capital Management</a></li>
<li><a href="https://96bf38f7-4f7a-4000-a96d-03a7a529f0ed.filesusr.com/ugd/3b0d6d_7f9545a28a0a48129a7920980b5b2f27.pdf" target="_blank">Saga Partners</a> - ($VSEC)</li>
<li><a href="https://sevencanyonsadvisors.com/resources/seven-canyons-world-innovators-quarterly-commentary/" target="_blank">Seven Canyons World Innovators</a></li>
<li><a href="https://docs.wixstatic.com/ugd/de07f6_0c03e7d62d824ca98a96fa974471a7fb.pdf" target="_blank">Spree Capital</a> - ($CFX, $CARS)</li>
<li><a href="https://srk-capital.com/content_files/2019/11/SRK-Fund-Q3-2019.pdf" target="_blank">SRK Capital</a></li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/3Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($SLGD, $BSTC, $ELMD)</li>
<li><a href="https://taovalue.files.wordpress.com/2019/10/taovalue_2019_q3_final.pdf" target="_blank">Tao Value</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/11/2019-Q3-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($CLNY, $GWW, $HNGKY)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CTB, $SAFM)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/10/2019-Q3-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li>
<li><a href="https://www.thirdpointoffshore.com/wp-content/uploads/2019/10/Third-Point-Q3-2019-Letter-TPOI-.pdf" target="_blank">Third Point Offshore Fund</a> - ($ESLOY, $SNE)</li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5da981abd30f37336bb612b3/1571389868322/Tollymore+letter+Sep+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($GRUB)</li>
<li><a href="https://www.tweedy.com/resources/library_docs/quarterly/FundCommentary%20Q3%202019%20-%20Final.pdf" target="_blank">Tweedy, Browne Fund</a> - ($KRNTY, $FOX $FOXA, $TBABF, $BIDU)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5da09b01c80d065ebaf8d703/1570806531156/Upslope+-+2019Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($IT)</li>
<li><a href="https://www.dropbox.com/s/vsrenaad14f2bxa/The%20Vilas%20Fund%20LP%20-%20Quarterly%20Letter%20Q3%202019%20%28Final%29.pdf?dl=0&utm_source=Website+Signup+-+Vilas+Capital+Management%2C+LLC&utm_campaign=8004c87a9b-3Q2019+Ltr_Web&utm_medium=email&utm_term=0_0fbdf27fc5-8004c87a9b-431098533" target="_blank">Vilas Capital</a></li>
<li><a href="http://www.vltavafund.com/data/dopisy/dopis_57_en.pdf" target="_blank">Vltava Fund</a> - ($BRK.A, $BRK.B, $SBRCY, $BMWYY)</li>
<li><a href="https://docs.wixstatic.com/ugd/5bfe4b_03b9a051772a4b9792c849ed7f74150a.pdf" target="_blank">Wedgewood Partners</a> - ($CDW, BRK.B, $NVDA, $ULTA)</li>
<li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/3Q19_Value%20Matters.pdf?1572140971546" target="_blank">Weitz Value Fund</a></li>
<li><a href="https://whitebrookcapital.app.box.com/s/4giogadrnt294d6q8t3a4awtxhrkjmjh" target="_blank">White Brook Capital</a> - ($BOX, $GRPN)</li>
<li><a href="https://static1.squarespace.com/static/5af2028eee175963b8d8c0ff/t/5db752012422566f6f7f86a4/1572295170818/Q3+Letter+-+Final.pdf" target="_blank">Worm Capital</a></li>
</ul>
<div>
<br /></div>
</div>
<span style="font-size: large;">2nd Quarter 2019</span><br />
<br />
<div>
<br />
<ul>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2019/07/Alluvial-Capital-Management-Q2-2019-Letter-to-Partners.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $NUVR, $MMAC, $RAMPF, $CLWY, $CMLS, $FTR)</li>
<li><a href="http://www.alphyncap.com/uploads/1/4/1/2/14123551/acml_2019-q2.pdf" target="_blank">Alphyn Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5d3a2ee5c694120001688a00/1564094184541/Q2+2019+Alta+Fox+Capital+Quarterly+Letter.pdf" target="_blank">Alta Fox Capital Management</a> - ($PAYS, $KWS, $NTDOY)</li>
<li><a href="https://www.dropbox.com/s/19lcbm48spw3g9c/Andvari-2019q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MLAB, $UPLD, $APPN, $BL, $WDAY, $TYL)</li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/08/APPLX-Q2-2019.pdf" target="_blank">Appleseed Fund</a> - ($CRTO, $SINA)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAZ, $TAP, $MTSC)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/6b4ee586-4e8c-4044-a1be-d9f30c4f9e34/Arquitos_Investor_Letter_Q2_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC)</li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTMX-APDMX-APHMX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Mid Cap Fund</a></li>
<li><a href="https://www.artisanpartners.com/content/dam/documents/quarterly-commentary/vr/2019/2q/ARTSX-APDSX-APHSX-QCommentary-2Q19-vR.pdf" target="_blank">Artisan Small Cap Fund</a></li>
<li><a href="https://www.hvst.com/posts/artko-capital-2q-2019-partner-letter-EvrTnmKZ" target="_blank">Artko Capital</a> - ($CCNI, $JYNT, $WFCW, $FLL, $NRCGW)</li>
<li><a href="http://www.askeladdencapital.com/wp-content/uploads/2019/07/2019-06-29-Askeladden-Capital-Q2-2019-Letter-Askeladden-Reloaded.pdf" target="_blank">Askeladden Capital</a> - ($FC, $AER, $DLTH, $LGIH, $SFM, LQDT)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $IDXX, $SSNC, $BNFT, $IRDM, $FDS, $ACGL, $RRR, $TWOU, $CVET, $ADPT, $ALEC)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $ACGL, $CHH, TSLA, $BNFT, $MANU)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Quarterly%20Letter%206.30.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($IDXX, $JBT, $SITE, $TTD, $BFAM, $GTT, $RRR, $CISN, $PRA, $CVET, $TREX)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_6_30_bca_scv_marketcomm.pdf?utm_source=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_campaign=Bernzott+2Q+2019+Market+Commentary+and+Firm+Update&utm_medium=email" target="_blank">Bernzott Capital Advisors</a> - ($CTLT, $GNRC, $BV, $CLDR, $SSTK, $MIK, $EPAM, $SNPS, $LOGM, $INOV, $CARB, $MINI)</li>
<li><a href="https://www.biremecapital.com/blog/fundamental-value-2q19-quarterly-letter" target="_blank">Bireme Capital</a></li>
<li><a href="https://bluehawkinvestors.com/wp-content/uploads/2019/07/Q2-2019-Investor-Letter.pdf" target="_blank">Blue Hawk Investment Group</a> - ($MTCH, $GRUB, $TRIP)</li>
<li><a href="https://static1.squarespace.com/static/54373ea8e4b0152f9d332f13/t/5d350ce2e13121000110246f/1563757795868/2019+Q2.pdf" target="_blank">Blue Tower Asset Management</a> - ($CNR)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/8ef5fe82-9246-4fdd-afb3-8bb4681ebb8b/0719_BCM_Partner_Letter_Q2_2019.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TOO, $GTN)</li>
<li><a href="https://browncapital.com/system/files/scf2q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li>
<li><a href="https://browncapital.com/system/files/mcf2q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li>
<li><a href="https://browncapital.com/system/files/ief2q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf2q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/07/2019-Q2-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($DEST, $BXC, $PAR)</li>
<li><a href="https://www.docdroid.net/IereKR2/coho-capital-2019-q2-letter.pdf" target="_blank">Coho Capital</a> - ($GDDY)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5d1909fa11a9570001ea18c8/1561922043505/2019Q2.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FISV, $FRRVY, $FRRVF, $TTNDY)</li>
<li><a href="https://static1.squarespace.com/static/55f99b0ae4b02c9607c0f701/t/5d2fbf4e8b4dd7000199603e/1563410254409/Q2+2019+Letter.pdf" target="_blank">Curreen Capital</a> - ($KTB)</li>
<li><a href="https://gallery.mailchimp.com/2b965ce88104d672785279e80/files/5fd3b3ea-7001-4c07-8d63-f95d455af921/Q2_2019_Desert_Lion_Capital_Letter.02.pdf" target="_blank">Desert Lion Capital</a></li>
<li><a href="http://east72.com.au/wp-content/uploads/2019/07/E72-Quarterly-Report-June-2019.pdf" target="_blank">East 72 Holdings</a> - ($AFTPF, $ADS)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2019/" target="_blank">Ensemble Fund</a> - ($BR, $SBUX, $FAST, $FRC, $GOOG)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q2_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($DIS, $BORR, $STING)</li>
<li><a href="https://www.ewingmorris.com/wp-content/uploads/2019/07/Q2-2019-Letter-vFINAL.pdf" target="_blank">Ewing Morris</a></li>
<li><a href="https://www.fmimgt.com/fmi/corp/LargeCap/Letter/2019/iso_lc_20190630.pdf" target="_blank">Fiduciary Management FMI Large Cap</a></li>
<li><a href="http://ift.tt/2lCHEK9" target="_blank">Firebird Management</a> - ($BV, $KSS)</li>
<li><a href="http://bit.ly/2IVHtCO" target="_blank">Focused Compounding Capital Management</a> - ($NC, $CSVI)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q2-2019.pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a> - ($ALGT, $XEC, $MKSI)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-06_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a> - ($ALGT, $XEC, $MKSI)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5d44bf055832920001fa4381/1564786438422/Greenhaven+Road+Letter+%282019+Q2%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($KKR, $APPS, $PAR, $SHSP, $ETSY, $NTDOY)</li>
<li><a href="https://www.docdroid.net/nGef9ZE/greenlightq2letter.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.08.19-Q2-Letter.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q2.pdf" target="_blank">Hayden Capital</a> - ($CMPR, $JD)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($RDN, $VST, $CALX)</li>
<li><a href="https://www.dropbox.com/s/5nuv7dwl1ciblrv/Lightsail%202Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5d46e8a04cbc950001226b6c/1564928160433/2Q19+letter.pdf" target="_blank">Long Cast Advisers</a> - ($QRHC, $DAIO, $SIFY, $INS, $CTEK, $TBTC)</li>
<li><a href="https://southeasternasset.com/commentary/2q19-llpf-commentary/" target="_blank">Longleaf Partners Fund</a> - ($CMCSA, $GE, $AMG, $CTL, $HCMLY\$HCMLF, $CHKGF, $CNHI, $FDX, $MAT, $CNX) - ($CBLLF, $DE)</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5d3b26b6b5cb710001c505e5/1564157623654/Maran+Partners+Fund+LP+2019+Q2+Letter.pdf" target="_blank">Maran Capital Management</a> - ($CLAR, $WLK, $BXC, $SVIN, $BH)</li>
<li><a href="https://marvistainvestments.com/wp-content/uploads/2019/07/MVIP-2Q19-Letter-FINAL.pdf" target="_blank">Mar Vista Investment Partners</a></li>
<li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5d2dd3b02daa030001a79d58/1563284400621/Massif+Capital+Second+Quarter+Letter+to+Investors.pdf" target="_blank">Massif Capital</a> - ($CBLLF, $DE)</li>
<li><a href="https://docs.wixstatic.com/ugd/f6ee8c_109a2c968fa84fa2afd22765e9af9374.pdf" target="_blank">Merion Road Capital</a> - ($IAA, $KAR, $MHH)</li>
<li><a href="https://www.brookvine.com.au/wp-content/uploads/2019Q2_Mittleman-Global-Value-Equity-Fund_Qtrly-Report_Class-P.pdf" target="_blank">Mittleman Brothers</a></li>
<li><a href="https://drive.google.com/file/d/13kJJaxTuFCpNSOGStboGQFTDcl6ywMQq/view" target="_blank">MPE Capital</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q2-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ROP, $DLR, $PFE) </li>
<li><a href="https://docs.wixstatic.com/ugd/ef2f99_704bd79f605041f3920f5f06d726faf1.pdf" target="_blank">Palm Valley Capital Fund</a> - ($CRD.A\$CRD.B, $CWGL, $NGS, $WMK, $UG, PTVCA\PTVCB, $AE, $DOX, $SCHL, $GENC)</li>
<li><a href="https://pershingsquareholdings.com/wp-content/uploads/2019/08/2019-Semiannual-Financials-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-2Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/q2-2019-investment-commentary/" target="_blank">RGA Investment Advisors</a></li>
<li><a href="https://gallery.mailchimp.com/bca5bc00638aa58b6cada7fab/files/3f913a70-cf19-4e27-8a1c-42a613be3200/Rhizome_Partners_Q2_2019_Investor_Letter_Final_Version.pdf" target="_blank">Rhizome Partners</a></li>
<li><a href="http://www.riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_2Q19.pdf" target="_blank">RiverPark Large Growth Fund</a> - ($ADBE, $AMZN, $FIVE, $ISRG, $GOOG\$GOOGL, $FB, $AAPL, $BX, $EXAS, $MSFT, $DIS, $PANW, $TDC, $ADSK, $COG)</li>
<li><a href="https://themarketplunger.com/2019/08/10/2q-2019-letter/" target="_blank">Rockvue Capital</a> - ($EAF, $TH, $UAA)</li>
<li><a href="https://www.rvcapital.ch/wp-content/uploads/2019/08/Co-Investor_Letter_H1_2019-EN.pdf" target="_blank">RV Capital</a></li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/a676b819-a092-4246-8284-74178e0a6fa9/SIF_2019_07_19_Investor_Letter.04.pdf" target="_blank">Saber Capital Management</a> - ($FB, $WFC)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_cee76b8ab55c40bcbc31421f7759ca6f.pdf" target="_blank">Saga Partners</a> - ($TTD, $LIMAF, $FB, $TRUP, $UA)</li>
<li><a href="https://docs.wixstatic.com/ugd/de07f6_58cdbf3f06da4d9b9bfc3dfba3366371.pdf" target="_blank">Spree Capital</a> - ($CVET, $BB, $QCOM)</li>
<li><a href="https://assets.empirefinancialresearch.com/uploads/2019/07/EFD-7-1-Stanphyl-Capital-Letter-June-2019.pdf" target="_blank">Stanphyl Capital Management</a> - ($TSLA, $AVNW, $WSTL)</li>
<li><a href="https://www.summersvalue.com/wp-content/uploads/2Q19-Investor-Letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $BSTC, $ELMD)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAREX-Shareholder-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TASCX-Shareholder-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/07/2019-Q2-TAVFX-Shareholder-Letter.pdf" target="_blank">Third Avenue Value Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5d1b720139ab94000119388b/1562079747536/Tollymore+letter+June+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($BID)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5d2cb4770f60db0001b4a56c/1563210872722/Upslope+-+2019Q2+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($FLIR, $HGV, $COKE, $PACK)</li>
<li><a href="http://www.vltavafund.com/data/dopisy/dopis_56_en.pdf" target="_blank">Vltava Fund</a> - ($AN)</li>
<li><a href="https://docs.wixstatic.com/ugd/5bfe4b_d88728c47e5442b9aa1f1d731c89ef5b.pdf" target="_blank">Wedgewood Partners</a> - ($ALC, $BRK.B, $SCHW, $CTSH, $EA, $MSI, $ODFL)</li>
<li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1570807813238" target="_blank">Weitz Value Fund</a></li>
</ul>
</div>
<br />
<span style="font-size: large;">1st Quarter 2019</span><br />
<br />
<div>
<ul>
<li><a href="https://gallery.mailchimp.com/b5aa12c5c889b46c0f8288f6d/files/a791ca4e-e5b2-4a25-b606-0d1d6c95f384/Alluvial_Capital_Management_Q1_2019_Letter_to_Partners_04.22.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $APTL, $IEHC, $HICKA)</li>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7b8f29e3a8d0001860027/1556592883034/Q1+2019+Alta+Fox+Capital+Quarterly+Letter-+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL - $PAYS, $JYNT, $RMBL, $STKS). <a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5cc7baa5eb39310fecbc7bdf/1556593318315/Alta+Fox+STKS+Long+4.28.19.pdf" target="_blank">Full Pitch</a> on $STKS)</li>
<li><a href="https://www.dropbox.com/s/rax170rmix70bir/Andvari-2019q1-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($UPLD, $TLRA, $WDAY, $V, $MA, $TYL, $MKL)</li>
<li><a href="https://appleseedfund.b-cdn.net/wp-content/uploads/2019/05/2019-APPLX-semi-annual-letter.pdf" target="_blank">Appleseed Fund</a> - ($SKM, $ERJ)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,216/" target="_blank">Ariel Funds</a> - ($AXE, $KMX, $ZBRA)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/680d1b4b-376f-4a4a-9324-af9ff3abe4dd/Arquitos_Investor_Letter_Q1_2019.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-1q-2019-partner-letter-wy9TLMel" target="_blank">Artko Capital</a> - ($REPH, $NRCGW, $GAIA, $EEI, $LEAF)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%203.31.19.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Growth Fund</a> - ($CSGP, $MSCI, $SSNC, $IRDM, $ANSS, $NEOG)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Focused%20Growth%20Fund%20Quarterly%20Letter%203.31.19.pdf" target="_blank">Baron Focused Growth</a> - ($CSGP, $FDS, $H, $IRDM, $GWRE, $TSLA, $BNFT, $CHH)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Small%20Cap%20Fund%20Letter%203.31.19.pdf" target="_blank">Baron Small Cap Fund</a> - ($TTD, $TDG, $FND, $GWRE, $HUD, $OEC, $PRTY, $BJRI, $CCC, $OSW, $CCX.U)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2019_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAM, $SSTK,$VRNT, $MIK, $QUOT, $MG, $BV)</li>
<li><a href="https://bluehawkinvestors.com/q1-2019-investor-letter/" target="_blank">Bluehawk Investors</a> - ($MTCH, $FND)</li>
<li><a href="https://www.biremecapital.com/blog/fundamental-value-1q19-quarterly-letter" target="_blank">Bireme Capital</a> - ($AAPL, $BKNG)</li>
<li><a href="https://browncapital.com/system/files/scf1q19commentary.pdf" target="_blank">Brown Capital Management Small Company Fund</a></li>
<li><a href="https://browncapital.com/system/files/mcf1q19commentary.pdf" target="_blank">BrownCapitalManagement Mid CompanyFund</a></li>
<li><a href="https://browncapital.com/system/files/ief1q19commentary.pdf" target="_blank">BrownCapitalManagement International Equity Fund</a></li>
<li><a href="https://browncapital.com/system/files/iscf1q19commentary.pdf" target="_blank">BrownCapitalManagement International Small Company Fund</a></li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/05/2019-Q1-CEF-Investor-Letter-1.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $USX)</li>
<li><a href="https://drive.google.com/file/d/1YUpNRWvSGBBLMymAbEXUoOCqFON2ENEJ/view">Compound Everyday Capital</a></li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ca171d41905f4c611b9202c/1554084308682/2019Q1letter.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2019/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SHMZF, $APH, $FRRVY, $FRRVF, $DHR, BAM, $SAPIF)</li>
<li><a href="https://www.nsx.com.au/ftp/news/021736732.PDF" target="_blank">East 72 Holdings</a> - ($ING, $MKL, $Y)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2019/" target="_blank">Ensemble Fund</a> - ($LSTR, $GOOG, $GOOGL)</li>
<li><a href="https://evermoreglobal.com/media/pdfs/Evermore_Commentary_Q1_2019.pdf" target="_blank">Evermore Global Value Fund</a> - ($BDRBF, $KRA)</li>
<li><a href="https://t.co/YPShTxBhfj" target="_blank">Ewing Morris</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-2019-q1.pdf?sfvrsn=6" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fpa-capital-fund-commentary-2019-03.pdf?sfvrsn=6" target="_blank">FPA Capital Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5cc366e74442bb0001c72482/1556309735923/Greenhaven+Letter+%282019+Q1%29.pdf" target="_blank">Greenhaven Road Capital</a> - ($PAR, $APPS, $KKR, $ETSY, $SHSP, $BOX, $EVI, $FCAU, $CSSE)</li>
<li><a href="https://www.docdroid.net/H7KPSVZ/greenlight-capital-q1-2019.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.05.23-Q1-Letter-Building-Gamma.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GSC/2019/GSC-1Q19-Report.pdf" target="_blank">Harding Loevner Global Small Cap Equities</a></li>
<li><a href="https://www.hardingloevner.com/fileadmin/pdf/GE/2019/GE-1Q19-Report.pdf" target="_blank">Harding Loevner Global Equities</a> - ($KHC, $NSRGY, $LYFT, $WBC, $VRTX)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-1Q19-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($BRY, $ARAY, $NWPX, $CCS, $FSLR)</li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2019-Q1.pdf?utm_source=Hayden+Capital&utm_campaign=fc6ae8918e-EMAIL_CAMPAIGN_2019_05_12&utm_medium=email&utm_term=0_aae4c81ce6-fc6ae8918e-103558831" target="_blank">Hayden Capital</a> - ($SE, $ZLPSF)</li>
<li><a href="http://www.horancm.com/sites/default/files/users/horancm/Portfolio%20Activity%201Q2019.pdf" target="_blank">Horan Capital Management</a> - ($MTN, $ATVI, $BKNG, $AAPL, $THO, $TCEHY, $GOOG, $FB)</li>
<li><a href="https://horizonkinetics.com/wp-content/uploads/Q1-2019-CVALUE-Review_FINAL.pdf" target="_blank">Horizon Kinetics</a> - ($K, $PEP, $NFLX, $AMZN, $TPL)</li>
<li><a href="https://jdpcap.com/wp-content/uploads/2019/05/1Q-2019-Presentation-.pdf" target="_blank">JDP Capital Management</a> - ($XPO, $TK, $SPOT)</li>
<li><a href="https://www.docdroid.net/3VOAy5K/laughing-water-capital-q1-2019.pdf" target="_blank">Laughing Water Capital</a></li>
<li><a href="https://www.dropbox.com/s/1brj1hqavl9r08n/Lightsail%201Q%202019%20Letter.pdf?dl=0" target="_blank">Lightsail Capital Management</a> - ($DRTTF)</li>
<li><a href="https://static1.squarespace.com/static/581274a0f5e231316b7c8224/t/5caf96756e9a7f50f6f03ec5/1555011190189/1Q19+letter+final.pdf" target="_blank">Long Cast Advisers</a> - ($INS, $QRHC, $EVI, $CTEK)</li>
<li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/1Q19-Longleaf-Partners-Commentary.pdf" target="_blank">Longleaf Partners Fund</a> - ($GE, $MAT, $WYNN, $CTL, $HCMLY, $CHKGF)</li>
<li><a href="https://static1.squarespace.com/static/54cd02c2e4b0c5c90af010e7/t/5cbdecde53450adb9a30dde5/1555950815790/Maran+Partners+Fund+LP+2019+Q1+Letter.pdf" target="_blank">Maran Capital Management</a></li>
<li><a href="https://static1.squarespace.com/static/55cbe47de4b0a1e3b9b911fe/t/5cb5d9ccf9619acd0cf39f4e/1555421645754/Massif+Capital+First+Qtr+2019+Letter+to+Investors.pdf" target="_blank">Massif Capital</a></li>
<li><a href="https://docs.wixstatic.com/ugd/f6ee8c_b0cee1afd831423facf7f964eeada115.pdf" target="_blank">Merion Road Capital</a> - ($FCPT, $SLGG)</li>
<li><a href="https://www.docdroid.net/ostq4If/2019-q1-midwood-q1-2019-investor-letter.pdf" target="_blank">Midwood Capital Partners</a> - ($NXST, $DRTTF, $RCM, $LMB, $REPH)</li>
<li><a href="https://millervalue.com/bill-miller-1q-2019-market-letter/?dtr" target="_blank">Miller Value Partners</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/07/Nelson-Roberts-2019-Q1-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($HD)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0319.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://assets.pershingsquareholdings.com/2019/05/17082807/Pershing-Square-Holdings-Ltd.-Q1-Letter-to-Shareholders.pdf" target="_blank">Pershing Square Holdings</a> - ($ADP, $QSR, $LOW, $SBUX, $HLT, $UTX, $HHC, $FNMA, $FMCC)</li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2019-1Q-International-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - International Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/q12019-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($GRUB)</li>
<li><a href="https://gallery.mailchimp.com/2c31f5b357b2ad72beab52a2b/files/24185410-368c-44bd-a930-4a9d92e88bf9/SIF_2019_04_20_Investor_Letter.pdf" target="_blank">Saber Capital Management</a> - ($AAPL. $FB, $TCEHY)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_28dd8002fdf344a382a093d989c5b0f5.pdf" target="_blank">Saga Partners</a> - ($TRUP)</li>
<li><a href="https://docs.wixstatic.com/ugd/de07f6_21e9c90b285a4116ae4312cc1bb1bdbd.pdf" target="_blank">Spree Capital</a> - ($ROKU, $FTDR, $EBAY, $ALRM, $ZAYO)</li>
<li><a href="https://www.docdroid.net/QBav0xn/summers-value-partners-1q19-investor-letter.pdf" target="_blank">Summers Value Fund</a> - ($EGRX, $CVET, $SLGD, $ELAN, $KHTRF)</li>
<li><a href="https://mailchi.mp/ltfunds/templeton-and-phillips-investment-commentary-1q19-india" target="_blank">Templeton and Phillips Capital Management</a> - ($FFXDF, $HDB)</li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5cdd1d38e79c70fa76c315b2/1557994809354/Tollymore+letter+May+2019.pdf" target="_blank">Tollymore Investment Partners</a> - ($TRIP, $SE)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAREX-1Q19-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($INTU.L, $NWHM, $JBGS)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/04/TASCX-1Q19-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($AGX)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/04/TAVFX-1Q19-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCC, $TDW, $EXP, $MHK)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5cb8894071c10b5b67e05353/1555597643395/Upslope+-+2019Q1+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($ATR, $YETI, $BLD)</li>
<li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global Growth</a></li>
<li><a href="https://weitzinvestments.com/resources/documents/funds/commentary/commentary-fund-1.pdf?1557519727747" target="_blank">Weitz Investment</a><span id="goog_1812407177"></span><a href="https://www.blogger.com/"></a><span id="goog_1812407178"></span> - <a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/Analyst%20Corner_CarMax.pdf?1557519727747" target="_blank">An Introduction to CarMax, Inc.</a> - $KMX</li>
</ul>
</div>
<br />
<br />
<span style="font-size: large;">4th Quarter 2018</span><br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5c509321f950b7176a5db508/1548784418298/Q4+2018+Alta+Fox+Capital+Quarterly+Letter+Final.docx.pdf" target="_blank">Alta Fox Capital Management</a> - ($TPNL)</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2019/01/Alluvial_Capital_Management_Q4_2018_Letter_to_Partners_01.24.2019.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $MMAC, $RAMPF, $AMNF)</li>
<li><a href="https://www.dropbox.com/s/53g8vs2pt3cpv4o/Andvari-2018q4-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($MA, $TYL)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,201/" target="_blank">Ariel Funds</a> - ($ATGE, $AMG, $KN)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/9d0f05b1-9864-4bfe-84ff-d97cd237714e/Arquitos_Investor_Letter_Q4_2018.pdf" target="_blank">Arquitos Capital</a> - ($SYTE, $MMAC, $WEDXF)</li>
<li><a href="https://www.hvst.com/posts/artko-capital-4q-2018-partner-letter-wnLTNPM6" target="_blank">Artko Capital</a> - ($JYNT, $SMED, $AFCN, $USAT, $PRIXQ, $SPAR)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%2012.31.18_3.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_12_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($HRC, $TRS, $CLH, $SSTK, $CMP, $CTLT, $EPAY, $MEDP, $ELY, $MIK, $MG, $SRCL)</li>
<li><a href="https://choice-equities.com/wp-content/uploads/2019/02/2018-Q4-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($RUBI, $DEST, $UA, $CMG)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5c2ca3e0aa4a995f08caea24/1546429409931/FY2018.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-december-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($BAM, $PTC, $SIRI, $PYPL, $HEI)</li>
<li><a href="http://east72.com.au/wp-content/uploads/2019/01/E72-Quarterly-Report-Dec-2018.pdf" target="_blank">East 72 Holdings</a> - ($AER, $EXXRF, $VIRT)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-fourth-quarter-2018/" target="_blank">Ensemble Fund</a> - ($SCHW, $ST)</li>
<li><a href="https://www.evansandpartners.com.au/sites/default/files/InternationalFundQuarterly_December2018.pdf" target="_blank">Evans and Partners International Fund</a> - ($SKFOF, $RELX, $MMM, $GOOG, $V, $ADDYY, $AON)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/fpa-capital-fund-annual-report_03-31-19_web-ready.pdf?sfvrsn=4" target="_blank">FPA Capital Fund - Annual Report</a></li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/crescent-fund-annual-report-web-ready-(12-31-18).pdf?sfvrsn=4" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://www.fundsmith.co.uk/docs/default-source/analysis---annual-letters/annual-letter-to-shareholders-2018.pdf" target="_blank">Fundsmith Equity Funds</a> - ($PM, $FB, $SBUX, $MSFT) - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li>
<li><a href="http://www.goodwoodfunds.com/wp-content/uploads/Goodwood-Annual-Report-2018.pdf" target="_blank">Goodwood Funds</a> - ($GCGMF, $WEDXF, $RAMPF, $PDDPF)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5c4bc50842bfc120277fb927/1548469513395/Greenhaven+2018+Q4+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $KKR, $YELP, $BOX)</li>
<li><a href="https://drive.google.com/file/d/1W8cHASX6-hodil8f2KsnZdbWwkERXCjw/view" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2019.01.15-Q4-2018-Letter-vFinal.pdf" target="_blank">GreenWood Investors</a></li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q4.pdf" target="_blank">Hayden Capital</a> - ($MPNGF, $CVNA, $JD)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-4Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS, $NWPX, $ARAY)</li>
<li><a href="https://static1.squarespace.com/static/59a07c7b7131a5b68981e4d5/t/5cc7c1aaf56535000156ba28/1556595115918/Lightsail+2Q+2018+Letter.pdf" target="_blank">Lightsail Capital management</a> - ($DRTTF)</li>
<li><a href="https://www.valuewalk.com/2019/02/mittleman-brothers-4q18-clear-media/" target="_blank">Mittleman Brothers</a></li>
<li><a href="https://drive.google.com/file/d/1TmrJPz9OlvLmGBSiADH7ggUOs544pllr/view" target="_blank">MPE Capital</a></li>
<li><a href="https://www.nelsonroberts.com/wp-content/uploads/2019/01/Nelson-Roberts-2018-Q4-Quarterly-Commentary.pdf" target="_blank">Nelson Roberts Investment Advisors</a> - ($ZTS)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_1218.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-4Q-US-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/2018-year-end-investment-commentary-easy-come-easy-go/" target="_blank">RGA Investment Advisors</a> - ($ROKU, $CGNX)</li>
<li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2019/01/Co-Investor_Letter_2018-EN.pdf" target="_blank">RV Capital</a></li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_ae6d4d06c60344d8b7971326501d9b65.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LGIH, $FB)</li>
<li><a href="https://drive.google.com/file/d/1YKnOvM33MFTIEO_rnU9ZmOBQczTSqLd0/view" target="_blank">Sebids Capital</a></li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAREX-4Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($DLN.L, $WY, $ZION, $PNC Warrants)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/01/TASCX-4Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($CUBI, $MYRG, $ATNI)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2019/01/TAVFX-4Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($DWDP, $DDAIF, $ANFGF)</li>
<li><a href="https://static1.squarespace.com/static/5bd16fb3840b1647d2becdcc/t/5c3cb0b540ec9ab9b9fd10f0/1547481270127/Tollymore+letter+December+2018.pdf" target="_blank">Tollymore Investment Partners</a> - ($UHAL, $GYM.LN, $ITEGY, $TRIP, $TRUP)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5c38b8cb4fa51a28ba9f70a0/1547221197096/Upslope+-+2018Q4+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($EVR, $BLD, $JE.LN, $DLTR, $KWR, $YETI, $MKTX, $TSLA)</li>
<li><a href="https://contango.com.au/wp-content/uploads/2019/05/07-05-2019-cqg-investment-update-and-nta-statement-30-april-2019.pdf" target="_blank">WCM Global</a></li>
<li><a href="https://weitzinvestments.com/resources/documents/Literature_and_Publications/Commentary/2019/4Q18_Value%20Matters.pdf?1557519727747" target="_blank">Weitz Investment</a></li>
<li><a href="http://wiedowercapital.com/files/Letter2018.pdf" target="_blank">Wiedower Capital</a> - ($TRUP, $JD, $ISDR)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/33abc1df-abe9-49a8-aef3-cc6058c2948d/WOSF_Partner_Letter_January_22_2019.pdf" target="_blank">Willow Oak Select Fund</a> - ($BEL)</li>
</ul>
<br />
<br />
<div>
<span style="font-size: large;">3rd Quarter 2018</span></div>
<br />
<div style="font-family: "times new roman"; margin: 0px;">
<div style="font-family: "Times New Roman";">
<ul style="font-family: "Times New Roman";">
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5bc79a54eef1a1e334de4634/1539807830450/Q3+2018+Alta+Fox+Capital+Quarterly+Letter+Final.pdf" target="_blank">Alta Fox Capital Management</a> - ($XPEL, $TPNL, $UWN)</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q3-2018-Letter-to-Partners-10.29.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($NUVR, $LICT, $OTEL, $MMAC, $CTRA, $BXC, $RAMPF)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-3q-2018-partner-letter-X34TP2Oe" target="_blank">Artko Capital</a> - ($TWNKW, $RSSS)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Quarterly%20Report%209.30.18_0.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_9_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $SSTK, $MIK, $PLOW, $GNTX, $OI, $APAM, $QUOT)</li>
<li><a href="https://choice-equities.com/wp-content/uploads/2018/11/2018-Q3-CEF-Investor-Letter.pdf" target="_blank">Choice Equities Fund</a> - ($LAWS, $BECN, $BXC, $YELP, $DEST)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5bb318fa15fcc0a9cd511971/1538463995185/2018Q3.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-september-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($FTV, $FERGY, $CCF, $ROP, $FRC, $AMADY, $CMCSA, $SIRI, $AON)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-third-quarter-2018/" target="_blank">Ensemble Fund</a> - ($TRUP, $BKNG)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5be1e3a60e2e72c05e5cdd4b/1541530534947/Greenhaven+Road+-+2018+Q3+Final_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU, $ETSY, $SHSP, $TRIP, $YELP, $EVI, $BOX)</li>
<li><a href="https://www.docdroid.net/MfMnIs3/greenlight-capital-q3-2018.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.10.10-Q3-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TRIP, $TI)</li>
<li><a href="http://www.haydencapital.com/wp-content/uploads/Hayden-Capital-Quarterly-Letter-2018-Q3.pdf" target="_blank">Hayden Capital</a> - ($MKL, $JD)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-3Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($TLRY, $BRY, $SRCI, $AXAS, $CCS)</li>
<li><a href="https://longleafpartners.com/sites/default/files/categories/Commentary/3Q18-Longleaf-Partners-Funds-Shareholder-Letter.pdf" target="_blank">Longleaf Partners Fund</a> - ($CTL, $BEL, $OCINF)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0918.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Focus%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Global%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/International%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/U.S.%20Small%20Company%20Growth%20Commentary%20-%20Third%20Quarter%202018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/q32018-investment-commentary/" target="_blank">RGA Investment Advisors</a> - ($PYPL, $WBA)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_890d215dee47497ba91e2a46ad7aa95a.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAREX-3Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($BKG.L, $JBGS, $CHKGF)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/11/TASCX-3Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $ASIX, $MYRG)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/10/TAVFX-3Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($TDW, $CHKGF, $BZZFF, $DB)</li>
<li><a href="https://static1.squarespace.com/static/58f7798829687f53ff30baf8/t/5bc894958165f5a62a1e5c6a/1539871893976/Upslope+-+2018Q3+Letter.pdf" target="_blank">Upslope Capital Management</a> - ($CWH, $TSLA, $MKTX)</li>
</ul>
</div>
</div>
<div style="font-family: "times new roman"; margin: 0px;">
<br /></div>
<br />
<span style="font-size: large;">2nd Quarter 2018</span><br />
<br />
<ul>
<li><a href="https://static1.squarespace.com/static/5aaacb57506fbe4636414126/t/5b57bd2988251bd8777d5ee0/1532476738546/Q2+2018+Alta+Fox+Capital+Quarterly+Letter.docx.pdf" target="_blank">Alta Fox Capital Management</a> - (T$PNL, $XPLT)</li>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q2-2018-Letter-to-Partners-7.20.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $SCOO, $NUVR, $MMAC)</li>
<li><a href="https://www.dropbox.com/s/ga6p199nuv30j9i/Andvari-2018q2-letter-general.pdf?dl=0" target="_blank">Andvari Associates</a> - ($TTD, $APPN, $TCEHY, $MKTX, $GOOG)</li>
<li><a href="https://www.arielinvestments.com/repository/func,download/filecatid,222/" target="_blank">Ariel Funds</a> - ($LAKE, $TISI, $TGNA)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-2q-2018-partner-letter-wARTJpDv" target="_blank">Artko Capital</a> - ($EEI, $ROSEW/ROSEU, $WFCF, $FRD)</li>
<li><a href="https://www.baronfunds.com/sites/default/files/Baron%20Funds%20Quarterly%20Report%206.30.18_0.pdf" target="_blank">Baron Funds</a></li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_6_30_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($EPAY, $ELY, $KN, $OI, $APAM, $CNK, $PLOW, $MIK, $CSOD, $EXLS)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/464760b7-cb8c-4974-98ae-c9ff09e5f2c8/0718_BCM_Partner_Letter_Q2_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($KT)</li>
<li><a href="https://choice-equities.com/wp-content/uploads/2018/08/2018-Q2-CEF-Investor-Letter_WEBSITE-PDF.pdf" target="_blank">Choice Equities Fund</a> - ($CMG, $REED, $BECN)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5b38349e2b6a280422fa91ba/1530410142957/2018Q2.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-june-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SAPIF, $TTNDY, $MKSI, $CMCSA, $PNR, $CIGI, $BAX, $SPGI)</li>
<li><a href="http://east72.com.au/wp-content/uploads/2018/07/E72-Quarterly-Report-June-2018.pdf" target="_blank">East 72 Holdings</a> - ($ECVTF, $UCPLF, $ELFIF)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-second-quarter-2018/" target="_blank">Ensemble Fund</a> - ($LB, $PBH)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q2-letter_final.pdf?sfvrsn=4" target="_blank">FPA Capital Fund</a></li>
<li><a href="https://gatorcapital.com/wp-content/uploads/2018/07/20180723-GFP-2018-Q2-Letter.pdf" target="_blank">Gator Capital Management</a> - ($AMP)</li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5b5b790daa4a9904b4e75eb0/1532721421547/Greenhaven+%282018+Q2%29_.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $YELP, $CSSE)</li>
<li><a href="https://www.docdroid.net/xz9WkeV/greenlight-capital-q2-2018-letter.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.07.18-Q2-2018-Letter-v2.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $TI)</li>
<li><a href="https://www.heartlandadvisors.com/Products/Mutual-Funds/Heartland-Value-Fund/Heartland-Value-Fund-2Q18-Portfolio-Manager-Commentary" target="_blank">Heartland Value Fund</a> - ($CCS)</li>
<li><a href="https://www.docdroid.net/KyxH0f8/laughing-water-capital-h118.pdf" target="_blank">Laughing Water Capital</a> - ($EZPW, $FCAU, $CDMO, $CWH, $RMNI/$RMNIW)</li>
<li><a href="https://www.docdroid.net/PctUQHa/maran-partners-fund-lp-2018-2q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $LOV)</li>
<li><a href="https://drive.google.com/file/d/1n2UY-hQd8QEPzidhsQFL2lyeBngGsdPw/view" target="_blank">MPE Capital</a></li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0618.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Focus-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/Global-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/International-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/US-Small-Company-Growth-Commentary-Second-Quarter-2018.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2018/08/Q2-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($EQIX)</li>
<li><a href="https://1q89e4mw1b12ns91b3jfdebu-wpengine.netdna-ssl.com/wp-content/uploads/2018/07/Co-Investor_Letter_H1_2018-EN.pdf" target="_blank">RV Capital</a> - (AddLife, PSG Group)</li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_6b3f18269c334631a75ac584d4276af6.pdf" target="_blank">Saga Partners</a> - ($TTD, $ESI, $UA, $LIMAF, $LILAK)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAREX-2Q18-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($FPH, $LEN)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/07/TASCX-2Q18-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($ATNI, $SAFM)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/07/TAVFX-2Q18-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($HCTPF, $KKWFF, $BCAUY, $HA</li>
<li><a href="http://wiedowercapital.com/files/Letter1H18.pdf" target="_blank">Wiedower Capital</a> - ($JD)</li>
</ul>
<br />
<div>
<br />
<span style="font-size: large;">1st Quarter 2018</span><br />
<br />
<ul>
<li><a href="https://alluvialcapital.com/wp-content/uploads/2018/12/Alluvial-Capital-Management-Q1-2018-Letter-to-Partners-4.23.2018.pdf" target="_blank">Alluvial Capital Management</a> - ($SYCRF, $OTEL, $LICT, $MMAC $BXC)</li>
<li><a href="https://www.docdroid.net/90TaM6T/arquitos-investor-letter-q1-2018.pdf" target="_blank">Arquitos Capital Management</a> - ($SYTE, $WEDXF)</li>
<li><a href="https://www.hvst.com/organization/art-capital-lp/posts/artko-capital-lp-1q-2018-partner-letter-wPZT33Kb" target="_blank">Artko Capital</a> - ($HTM, $GAIA, $HDSN, $SKY)</li>
<li><a href="https://doc.morningstar.com/Document/a444b3ab802f4a0c076025c4dee1cd5a.msdoc/original?clientid=globaldocuments&key=52dbc583e1012395" target="_blank">Ariel Funds</a> - ($KEYS, $MHK, $OAK)</li>
<li><a href="https://www.bernzott.com/uploads/1/5/9/5/15953620/2018_3_31_bca_scv_marketcomm.pdf" target="_blank">Bernzott Capital Advisors</a> - ($MINI, $ELY, $EPAY, $CMP, $MIK, $MG)</li>
<li><a href="https://gallery.mailchimp.com/2511717cdf1bae9a0638c942a/files/2249ec23-e80d-46a8-9f65-846264852383/0418__BCM_Partner_Letter_Q1_2018.pdf" target="_blank">Bonhoeffer Capital Management</a> - ($TI, $TOO)</li>
<li><a href="https://static1.squarespace.com/static/58154aa0f5e2319b54671375/t/5ada7a78575d1f52aa6e679d/1524267640733/2018Q1.pdf" target="_blank">Comus Investment</a></li>
<li><a href="https://www.cooperinvestors.com/our-funds/cooper-investors-global-equities-fund-hedged/reports/quarterly-commentary-report-march-2018/" target="_blank">Cooper Investors Global Equities Fund</a> - ($SPGI, $CME, $CMCSA, $SPB)</li>
<li><a href="https://www.docdroid.net/S613L8e/1q-2018-dane-investor-letter.pdf" target="_blank">Dane Capital Management</a> - ($DSKE, $IEA, $LAZY, $LMB, $YTRA, $EVI)</li>
<li><a href="https://ensemblefund.com/quarterly-investment-market-update-first-quarter-2018/" target="_blank">Ensemble Fund</a> - ($NFLX, $DNOW)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-capital-fund/literature/quarterly-commentaries/fcap-q1-letter_vfinal.pdf#page=2" target="_blank">FPA Capital Fund</a> - ($WDC, $TEN, $ALGT)</li>
<li><a href="https://fpa.com/docs/default-source/funds/fpa-crescent-fund/literature/quarterly-commentaries/fpa-crescent-commentary-q1-2018-vfinal.pdf#page=2" target="_blank">FPA Crescent Fund</a></li>
<li><a href="https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/5ae7bf98f950b7272142f5c2/1525137305236/Greenhaven+2018+Q1+FINAL.pdf" target="_blank">Greenhaven Road Capital</a> - ($FCAU $ETSY, $TRIP, $EVI, $AINC, $BXC)</li>
<li><a href="https://www.docdroid.net/K95Fju3/greenlight-capital-q1-2018.pdf" target="_blank">Greenlight Capital</a></li>
<li><a href="https://www.gwinvestors.com/wp-content/uploads/2018.05.11-Q1-2018-Letter.pdf" target="_blank">GreenWood Investors</a> - ($EXXRF, $RYCEY, $VIVHY)</li>
<li><a href="https://www.docdroid.net/81jd56q/laughing-water-capital-q1-2018.pdf" target="_blank">Laughing Water Capital</a> - ($BXC, $OCN, $TRC, $GHL, $ITI, $GAIA)</li>
<li><a href="https://longleafpartners.com/sites/default/files/categories/Documents/1Q18-Longleaf-Partners-Quarterly-Summary-Report-All-Funds.pdf" target="_blank">Longleaf Partners</a></li>
<li><a href="https://www.docdroid.net/eFTaTcE/maran-partners-fund-lp-2018-1q-letter.pdf" target="_blank">Maran Capital Management</a> - ($BH, $CLAR, $SVIN, $IAC, $ATTO)</li>
<li><a href="https://www.platinum.com.au/PlatinumSite/media/Reports/ptqtr_0318.pdf" target="_blank">Platinum Asset Management</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Focus-Growth-Commentary.pdf" target="_blank">Polen Capital - Focus Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Global-Growth-Commentary.pdf" target="_blank">Polen Capital - Global Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-International-Growth-Commentary.pdf" target="_blank">Polen Capital - International Growth</a></li>
<li><a href="https://www.polencapital.com/pdf/Insights/2018-1Q-Small-Company-Growth-Commentary.pdf" target="_blank">Polen Capital - U.S. Small Company Growth</a></li>
<li><a href="http://www.rgaia.com/wp-content/uploads/2018/05/Q1-2018-Commentary.pdf" target="_blank">RGA Investment Advisors</a> - ($DIS, $RAMP)</li>
<li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rplgf/commentary/RiverPark_Large_Growth_Fund_1Q18.pdf" target="_blank">RiverPark Large Growth Fund</a></li>
<li><a href="http://riverparkfunds.com/Data/Sites/17/media/docs/rpfvf/commentary/RiverPark_Focused_Value_1Q18_SH_Letter.pdf" target="_blank">RiverPark Focused Value Fund</a></li>
<li><a href="https://docs.wixstatic.com/ugd/3b0d6d_64caf8ca6a264972923df8b202415b9a.pdf" target="_blank">Saga Partners</a> - ($ESI, $LILAK)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAREX-Letter.pdf" target="_blank">Third Avenue Real Estate Value Fund</a> - ($AKR, $SRG)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TASCX-Letter.pdf" target="_blank">Third Avenue Small-Cap Value Fund</a> - ($FRPH, $WEDXF. $SMHI)</li>
<li><a href="https://thirdave.com/wp-content/uploads/2018/04/2018-Q1-TAVFX-Letter.pdf" target="_blank">Third Avenue Value Fund</a> - ($BDRLF, $KKWFF, $BMWYY)</li>
<li><a href="https://www.vulcanvaluepartners.com/wp-content/uploads/2018/04/VVP-Quarterly-Commentary-18.03.31.pdf" target="_blank">Vulcan Value Partners</a></li>
</ul>
</div>
Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-8511220737844688552.post-56407610186700410832020-01-26T14:19:00.002-05:002020-01-26T14:19:56.582-05:00Selected Tweets<span style="font-family: "quicksand" , sans-serif;">It's time for some tweets.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">Thanks for reading.</span><br />
<br />
<blockquote class="tr_bq">
<span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>"</i></span><span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>When the facts change, I change my mind." </i></span><i style="color: #660000; font-family: quicksand, sans-serif;">John Maynard Keynes</i></blockquote>
<br />
<blockquote class="tr_bq">
<span style="color: #660000;"><i><span style="font-family: "quicksand" , sans-serif;">"</span></i></span><span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>The biggest problem is not to let people accept new ideas, but to let them forget the old ones." </i></span><i style="color: #660000; font-family: quicksand, sans-serif;">John Maynard Keynes</i></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$WLL Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Very proud to attach an Energy FinTwit research collaboration on Whiting Petroleum, <a href="https://twitter.com/search?q=%24WLL&src=ctag&ref_src=twsrc%5Etfw">$WLL</a><a href="https://twitter.com/WillRayValentin?ref_src=twsrc%5Etfw">@WillRayValentin</a><a href="https://twitter.com/oil_gonif?ref_src=twsrc%5Etfw">@oil_gonif</a><a href="https://t.co/snCY4LXUub">https://t.co/snCY4LXUub</a><br />
<br />
1/</div>
— O&G OG (@EnergyCredit1) <a href="https://twitter.com/EnergyCredit1/status/1189920022375862274?ref_src=twsrc%5Etfw">October 31, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$MA Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1/ Let's talk about one of my favorite companies, Mastercard <a href="https://twitter.com/search?q=%24MA&src=ctag&ref_src=twsrc%5Etfw">$MA</a>. It reported earnings yesterday and was up 1% today, but it's up approximately a gazillion percent over the past decade, so seems like a good time to review... <a href="https://t.co/eUu0VpCjc7">pic.twitter.com/eUu0VpCjc7</a></div>
— Matthew Cochrane (@FoolMCochrane) <a href="https://twitter.com/FoolMCochrane/status/1189738475182022656?ref_src=twsrc%5Etfw">October 31, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$QUAD Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24QUAD&src=ctag&ref_src=twsrc%5Etfw">$QUAD</a> - The reason they are "selling" the $200 mm segment is that it lost -$15 mm of EBITDA in H1-19... by moving this loss to discontinued operations, it buys them room on their covenants. That's how bad the situation is, they have to manufacture EBITDA to maintain compliance...</div>
— ValuewithaCatalyst (@ValuewaCatalyst) <a href="https://twitter.com/ValuewaCatalyst/status/1189537276981850114?ref_src=twsrc%5Etfw">October 30, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$FB Workplace Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
2/Workplace is similar to <a href="https://twitter.com/slack?ref_src=twsrc%5Etfw">@Slack</a> or <a href="https://twitter.com/MicrosoftTeams?ref_src=twsrc%5Etfw">@MicrosoftTeams</a>: collaboration software for work. It started as an internal tool at Facebook and then grew to > 40k customers and today > 3 million paid users (seats): <a href="https://t.co/hJzlW1urYe">pic.twitter.com/hJzlW1urYe</a></div>
— Marcelo P. Lima (@MarceloPLima) <a href="https://twitter.com/MarceloPLima/status/1189295975451500545?ref_src=twsrc%5Etfw">October 29, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$ROKU Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Still a lot of ppl don't get <a href="https://twitter.com/search?q=%24roku&src=ctag&ref_src=twsrc%5Etfw">$roku</a>. Not b/c they missed the boat but truly don't understand. Let me explain.<br />
-People make comments Roku'd be obsolete w/ everyone has a smart TV. Smart TVs DO have an OS. Roku OS is the most popular OS followed by <a href="https://twitter.com/search?q=%24amzn&src=ctag&ref_src=twsrc%5Etfw">$amzn</a> Fire TV (1/7)</div>
— DYOptions (@data168) <a href="https://twitter.com/data168/status/1189362005540364288?ref_src=twsrc%5Etfw">October 30, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$CVNA Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1/<br />
<br />
Pull up a chair. <a href="https://twitter.com/search?q=%24CVNA&src=ctag&ref_src=twsrc%5Etfw">$CVNA</a> is an opaque subprime origination machine attached to a management compensation scheme. When investors let the fox guard the hen house, they shouldn't be surprised at the result. It escapes me completely how institutions will put <a href="https://t.co/8V1101qybO">https://t.co/8V1101qybO</a></div>
— Investor Gator 🐊 (@GatorInvestor) <a href="https://twitter.com/GatorInvestor/status/1189323281490501637?ref_src=twsrc%5Etfw">October 29, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$SPGI Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24SPGI&src=ctag&ref_src=twsrc%5Etfw">$SPGI</a> (1/2) S & P Global beats on eps, beats on rev and guides FY eps above consensus. <a href="https://t.co/QU36WWuBVJ">pic.twitter.com/QU36WWuBVJ</a></div>
— North Bluff Capital (@bluff_capital) <a href="https://twitter.com/bluff_capital/status/1189164772819980289?ref_src=twsrc%5Etfw">October 29, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$GRUB Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="es">
<a href="https://twitter.com/search?q=%24GRUB&src=ctag&ref_src=twsrc%5Etfw">$GRUB</a> 4Q revenue guidance $315-335MM, vs $387MM consensus. EBITDA: $15-25MM vs $79MM consensus. Ouch.</div>
— Diogenes (@WallStCynic) <a href="https://twitter.com/WallStCynic/status/1188913527131693056?ref_src=twsrc%5Etfw">October 28, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>2 Thread on </u></span><u style="color: red; font-family: quicksand, sans-serif; font-size: x-large;">$SPOT</u><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24SPOT&src=ctag&ref_src=twsrc%5Etfw">$SPOT</a> Q3 Earnings, very strong results. 31% MAUs, 30% subs and 29% Rev. FCF and Op Inc positive. Raises guidance. <a href="https://t.co/kI7hDBDGmU">https://t.co/kI7hDBDGmU</a> <a href="https://t.co/KCOfPiNygz">pic.twitter.com/KCOfPiNygz</a></div>
— FranciscoAmador (@chesko182) <a href="https://twitter.com/chesko182/status/1188795733304061953?ref_src=twsrc%5Etfw">October 28, 2019</a></blockquote>
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Couple of <a href="https://twitter.com/search?q=%24SPOT&src=ctag&ref_src=twsrc%5Etfw">$SPOT</a> earnings notes.<br />
<br />
First of all, kudos for getting right to questions. Nothing is stupider than reading something aloud that could be sent as text in advance.<br />
<br />
Headline numbers:<br />
<br />
Subs +30%<br />
Rev +28%<br />
Gross margin +20 bps <a href="https://t.co/6NIoRszuZ8">pic.twitter.com/6NIoRszuZ8</a></div>
— Evan Tindell (@evantindell) <a href="https://twitter.com/evantindell/status/1189151035501301760?ref_src=twsrc%5Etfw">October 29, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Chartstravaganza</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Another edition of Chartstravaganza … tracking change with charts <a href="https://t.co/6Iq3gx3JQI">pic.twitter.com/6Iq3gx3JQI</a></div>
— Plan Maestro (@PlanMaestro) <a href="https://twitter.com/PlanMaestro/status/1188474205349777408?ref_src=twsrc%5Etfw">October 27, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Interesting picks below 10x in 10 years - some names include $PINS, $SQ, $BZUN</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
What is the lowest risk stock that you believe will 10x over the next 10 years?<br />
<br />
I'll go first: <br />
<br />
Pinterest - <a href="https://twitter.com/search?q=%24PINS&src=ctag&ref_src=twsrc%5Etfw">$PINS</a></div>
— Brian Feroldi (@BrianFeroldi) <a href="https://twitter.com/BrianFeroldi/status/1188255418860081155?ref_src=twsrc%5Etfw">October 27, 2019</a></blockquote>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJNzFCvTFJHaQqV6Fnm9VQVRam-jpssXLVCvMzN1WLXUEuk1LSJiZMbP4l1wg-FQz5e5n2LVhICUZyHETGNMfmgz65kINFVcSgwG653kXGb_VHLY_ajzl3LYmnv9TaphYDbqRptNSwQxaQ/s1600/a.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="206" data-original-width="646" height="127" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJNzFCvTFJHaQqV6Fnm9VQVRam-jpssXLVCvMzN1WLXUEuk1LSJiZMbP4l1wg-FQz5e5n2LVhICUZyHETGNMfmgz65kINFVcSgwG653kXGb_VHLY_ajzl3LYmnv9TaphYDbqRptNSwQxaQ/s400/a.png" width="400" /></a></div>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script><br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-17807566441915026772020-01-23T09:11:00.001-05:002020-01-23T09:11:45.504-05:00Selected Tweets<span style="font-family: "quicksand" , sans-serif;">It's time for some tweets.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">Thanks for reading.</span><br />
<br />
<blockquote class="tr_bq">
<span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>"</i></span><span style="color: #660000; font-family: quicksand, sans-serif;"><i>Don't judge a man by where he is, because you don't know how far he has come." </i></span><i style="color: #660000; font-family: quicksand, sans-serif;">C. S. Lewis</i></blockquote>
<br />
<blockquote class="tr_bq">
<span style="color: #660000;"><i><span style="font-family: "quicksand" , sans-serif;">"</span></i></span><span style="color: #660000; font-family: quicksand, sans-serif;"><i>You can't go back and change the beginning, but you can start where you are and change the ending." </i></span><i style="color: #660000; font-family: quicksand, sans-serif;">C. S. Lewis</i></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$IRBT Thread</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Alright, I'm going to brain dump a bit on <a href="https://twitter.com/iRobot?ref_src=twsrc%5Etfw">@iRobot</a> <a href="https://twitter.com/search?q=%24IRBT&src=ctag&ref_src=twsrc%5Etfw">$IRBT</a> here. I know there's a lot of stress surrounding competition, pricing power, margin erosion, market share, tariff concerns... Cc <a href="https://twitter.com/colinangle?ref_src=twsrc%5Etfw">@colinangle</a></div>
— Steve Symington (@TMFSymington) <a href="https://twitter.com/TMFSymington/status/1187797449793925120?ref_src=twsrc%5Etfw">October 25, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$AMZN Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Why I will be buying the weakness in <a href="https://twitter.com/search?q=%24AMZN&src=ctag&ref_src=twsrc%5Etfw">$AMZN</a><br />
Written early 2019 (and still intact):<a href="https://twitter.com/realmoney?ref_src=twsrc%5Etfw">@realmoney</a> On the wings of a nearly zero cost of capital Amazon has expended enormous sums of capital to produce the massive and insurmountable competitive advantage that exists today.</div>
— Douglas Kass (@DougKass) <a href="https://twitter.com/DougKass/status/1187490744061308928?ref_src=twsrc%5Etfw">October 24, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$MED Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24MED&src=ctag&ref_src=twsrc%5Etfw">$MED</a> 2x'ed earnings in 2 years ahead of goal, & aim to 2x again in 3. 15x multiple. Earnings all cash distributed as dividends/buyback as they grow & no debt. Unclear why stock down in half since 2018 despite 40% growth. Yeah, MLM, but so what?</div>
— rubicon59 (@rubicon59) <a href="https://twitter.com/rubicon59/status/1187390420122161153?ref_src=twsrc%5Etfw">October 24, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$PYPL Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1/ <a href="https://twitter.com/search?q=%24PYPL&src=ctag&ref_src=twsrc%5Etfw">$PYPL</a> up about 7% in AH trading after reporting another great quarter. <a href="https://twitter.com/saxena_puru?ref_src=twsrc%5Etfw">@saxena_puru</a> already provided a solid review of the financials, so let's look at what's driving its revenue and user growth <br />
<br />
I'm long, about 6.3% position<br />
<br />
(cont) <a href="https://t.co/eIDXuWSDtz">https://t.co/eIDXuWSDtz</a></div>
— Matthew Cochrane (@FoolMCochrane) <a href="https://twitter.com/FoolMCochrane/status/1187213226548826112?ref_src=twsrc%5Etfw">October 24, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Competition is bad for margins $TDG, $HEI</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Here's a good business lesson to remember:<br />
<br />
Competition is bad for margins.<br />
<br />
[THREAD] 👇🏽</div>
— Ryan Reeves (@investing_city) <a href="https://twitter.com/investing_city/status/1187118370258182144?ref_src=twsrc%5Etfw">October 23, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$FB Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
To follow up from our conversation last week, I ended up selling 75% of my Facebook position for around $190 per share. <br />
<br />
This was a difficult decision, since <a href="https://twitter.com/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw">$FB</a> was my third-largest position (behind <a href="https://twitter.com/search?q=%24MELI&src=ctag&ref_src=twsrc%5Etfw">$MELI</a> and <a href="https://twitter.com/search?q=%24OLED&src=ctag&ref_src=twsrc%5Etfw">$OLED</a>) and one that I’ve held for more than 7 years. <a href="https://t.co/znjqndqo9Y">https://t.co/znjqndqo9Y</a></div>
— Simon Erickson (@TMFInnovator) <a href="https://twitter.com/TMFInnovator/status/1186652538424250369?ref_src=twsrc%5Etfw">October 22, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$INTU Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Intuit (creator of TurboTax, Quickbooks, etc.), unsurprisingly, makes all of its profit in a 3-month window. <br />
<br />
Guess which three months? 😜<br />
<br />
Quick [THREAD]</div>
— Ryan Reeves (@investing_city) <a href="https://twitter.com/investing_city/status/1186359456927367168?ref_src=twsrc%5Etfw">October 21, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Read the comments for stock ideas</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
If you had to have 100% of your capital investing in just 3 stocks over the next 10 years, which ones would you choose?</div>
— Brian Feroldi (@BrianFeroldi) <a href="https://twitter.com/BrianFeroldi/status/1186322040355205121?ref_src=twsrc%5Etfw">October 21, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Chartstravaganza</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Here’s Chartstravaganza … a little late but it’s free<br />
<br />
(<a href="https://twitter.com/SMBCComics?ref_src=twsrc%5Etfw">@smbccomics</a>) <a href="https://t.co/yePgTexZi8">pic.twitter.com/yePgTexZi8</a></div>
— Plan Maestro (@PlanMaestro) <a href="https://twitter.com/PlanMaestro/status/1186330747445141504?ref_src=twsrc%5Etfw">October 21, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Zones of Life</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Zones of <a href="https://twitter.com/hashtag/life?src=hash&ref_src=twsrc%5Etfw">#life</a><br />
<br />
1. Comfort - easiest<br />
<br />
2. Fear - just outside of comfort, whr we fear lack of confidence & hence find excuses & gets impacted by others<br />
<br />
3. Learning - starts dealing with challenges<br />
<br />
4. Growth - purpose, dreams, goals, objectives<br />
<br />
<a href="https://t.co/J43Qq0kjWo">pic.twitter.com/J43Qq0kjWo</a></div>
— LearnLifeWealthTravel (@AnyBodyCanFly) <a href="https://twitter.com/AnyBodyCanFly/status/1185572864545583104?ref_src=twsrc%5Etfw">October 19, 2019</a></blockquote>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgR9kz2KUK19hgALQ3dTJ3J31HBUhFWytqewNtHOsA-7NYjechyphenhyphenmrCuglBd4HVHNT1OA1npXTkfHBMBV3gQBO0ZFZHtV7c4N8C4Bo3wpQ-60w2u2wKP1cB35ysHZvvrQy-zF4pWojEmppn1/s1600/a.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="245" data-original-width="718" height="136" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgR9kz2KUK19hgALQ3dTJ3J31HBUhFWytqewNtHOsA-7NYjechyphenhyphenmrCuglBd4HVHNT1OA1npXTkfHBMBV3gQBO0ZFZHtV7c4N8C4Bo3wpQ-60w2u2wKP1cB35ysHZvvrQy-zF4pWojEmppn1/s400/a.jpg" width="400" /></a></div>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script><br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-87280653957938540732020-01-13T22:13:00.000-05:002020-01-13T22:13:10.919-05:00Selected Tweets<span style="font-family: "quicksand" , sans-serif;">It's time for some tweets.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">Thanks for reading.</span><br />
<br />
<blockquote class="tr_bq">
<span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>"</i></span><span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>Time is your friend; impulse is your enemy." </i></span><i style="color: #660000; font-family: quicksand, sans-serif;">John C. Bogle</i></blockquote>
<span style="color: #660000;"><i><br />
</i></span> <br />
<blockquote class="tr_bq">
<span style="color: #660000;"><i><span style="font-family: "quicksand" , sans-serif;">"</span></i></span><span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>Learn every day, but especially from the experiences of others. It's cheaper!" </i></span><i style="color: #660000; font-family: quicksand, sans-serif;">John C. Bogle</i></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$SCHW Thread</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
As the market has digested the competitive and strategic impacts of $0 commissions, at $40 close today, <a href="https://twitter.com/search?q=%24SCHW&src=ctag&ref_src=twsrc%5Etfw">$SCHW</a> is largely back at pre-Oct 1 levels. <br />
<br />
Some observations from CEO’s Fall Update today, particularly in flywheel SCHW calls the “virtuous cycle” <a href="https://t.co/mttJSx9Zj4">pic.twitter.com/mttJSx9Zj4</a></div>
— CORE Dental DDS (@CoreDentalDDS) <a href="https://twitter.com/CoreDentalDDS/status/1185386538366111744?ref_src=twsrc%5Etfw">October 19, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$WORK Thread</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
I wrote 500 words this morning on the recent selloff, especially as it relates to <a href="https://twitter.com/hashtag/SaaS?src=hash&ref_src=twsrc%5Etfw">#SaaS</a> companies.<br />
<br />
Realized there would be no way to post this piecemeal to Twitter, so I've attached a copy here.<br />
<br />
Bottom line = I think this selloff is a huge opportunity for LT investors.<a href="https://twitter.com/search?q=%24WORK&src=ctag&ref_src=twsrc%5Etfw">$WORK</a> <a href="https://t.co/RJ30TRecVY">pic.twitter.com/RJ30TRecVY</a></div>
— Simon Erickson (@TMFInnovator) <a href="https://twitter.com/TMFInnovator/status/1185262423609167872?ref_src=twsrc%5Etfw">October 18, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$FB Thread</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1/ Obviously, whether anyone buys/sells depends on goals, risk tolerance, situation, etc -- but I believe <a href="https://twitter.com/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw">$FB</a> is a good investment and will beat the market over next 5 years. Whether it's a moral company or beneficial to society, I'll leave for others to debate. (cont) <a href="https://t.co/Veu5HFoXH2">https://t.co/Veu5HFoXH2</a></div>
— Matthew Cochrane (@FoolMCochrane) <a href="https://twitter.com/FoolMCochrane/status/1185040442594869249?ref_src=twsrc%5Etfw">October 18, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>I enjoyed this "compunder" discussion $AMT</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Okay so <a href="https://twitter.com/search?q=%24amt&src=ctag&ref_src=twsrc%5Etfw">$amt</a> went from $2 to $20 to $200. At what point in that process were you stupid for selling, the first 200%, 500% 1000%, 2000%?</div>
— Pythia Cap(ital) (@PythiaR) <a href="https://twitter.com/PythiaR/status/1184978908011040769?ref_src=twsrc%5Etfw">October 17, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Always fun read by Tren</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Whenever you read or hear the phrase "losing money" you should ask yourself: what does this person mean?<br />
<br />
1. GAAP earnings? <br />
2. Cash flow? <br />
3. Unit economics? <br />
<br />
The phrase is so unspecific that it should not be used unless money in physical form is lost.<a href="https://t.co/r13Nabl3vd">https://t.co/r13Nabl3vd</a></div>
— Tren Griffin (@trengriffin) <a href="https://twitter.com/trengriffin/status/1184981449172144128?ref_src=twsrc%5Etfw">October 17, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$INFLX Thread</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1/<br />
While the cash bonfire rages unabated at <a href="https://twitter.com/search?q=%24NFLX&src=ctag&ref_src=twsrc%5Etfw">$NFLX</a>, it looked at first like they printed some nice earnings. Until I looked closer.</div>
— Investor Gator 🐊 (@GatorInvestor) <a href="https://twitter.com/GatorInvestor/status/1184571946501103618?ref_src=twsrc%5Etfw">October 16, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$CMCSA Thread</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
(1/n) Everyone I talk to about <a href="https://twitter.com/search?q=%24CMCSA&src=ctag&ref_src=twsrc%5Etfw">$CMCSA</a> always brings up Brian Robert’s capital allocation being called into question after the Sky deal. Let’s take a look at his actual record.</div>
— Preferred $hares (@PrefShares) <a href="https://twitter.com/PrefShares/status/1184566744620392450?ref_src=twsrc%5Etfw">October 16, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$Growth Stock Obseravations</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1) The past few weeks have been real tough for growth investors with most rapidly growing stocks down 25-50% from their ATHs. For sure, some have held up but the vast majority have taken a real beating. <br />
<br />
This battering in growth land (despite strength in the major indices)...</div>
— Puru Saxena (@saxena_puru) <a href="https://twitter.com/saxena_puru/status/1184642257720266752?ref_src=twsrc%5Etfw">October 17, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Inspiring</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
I know something about you<br />
<br />
a secret your heart knows<br />
<br />
even if you're unaware.<br />
<br />
Every moment<br />
<br />
every situation and person you encounter<br />
<br />
you have a secret hope...<br />
<br />
a hope this next moment, this person<br />
<br />
will be EXTRAORDINARY.<br />
<br />
Everyone has this hope.<br />
<br />
How will you USE this secret?</div>
— Adam Robinson (@IAmAdamRobinson) <a href="https://twitter.com/IAmAdamRobinson/status/1185172791600934914?ref_src=twsrc%5Etfw">October 18, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Zelle Thread - </u></span><span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$FISV, $FIS, $JKHY</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
“We’re now at a run rate of doing over a billion transactions and over a quarter trillion dollars worth of dollar volume, and that’s growing at 70% and 50%, respectively, year-over-year” (Zelle CEO)<a href="https://t.co/D3bOB4rCBH">https://t.co/D3bOB4rCBH</a></div>
— CORE Dental DDS (@CoreDentalDDS) <a href="https://twitter.com/CoreDentalDDS/status/1185241350054334467?ref_src=twsrc%5Etfw">October 18, 2019</a></blockquote>
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<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTy2pXei0SKAUC7muCNu_8uP29MODReTdaltKgKppzoBvVrv7TRCjczZRC4FXJH6WaeRFTq-uq4eQyYKT40ZHQyF071o8Letk-fgXzlCJLpV7aDR_0E3hcBsKPYIXtsMWNWr-2t45CJQgj/s1600/a.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="207" data-original-width="600" height="137" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTy2pXei0SKAUC7muCNu_8uP29MODReTdaltKgKppzoBvVrv7TRCjczZRC4FXJH6WaeRFTq-uq4eQyYKT40ZHQyF071o8Letk-fgXzlCJLpV7aDR_0E3hcBsKPYIXtsMWNWr-2t45CJQgj/s400/a.gif" width="400" /></a></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-89671783638994472582020-01-03T07:23:00.003-05:002020-01-03T07:23:52.832-05:00Portfolios<span style="font-family: "quicksand" , sans-serif;">This post is full of portfolios. Check it out.</span><br />
<span style="font-family: "quicksand" , sans-serif;"><br />
</span> <span style="font-family: "quicksand" , sans-serif;">Check out below which ones are top performers of the SP500.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">Thanks for reading.</span><br />
<br />
<blockquote class="tr_bq">
<span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>"</i></span><span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>Luck is always the last refuge of laziness and incompetence." James Cash Penney</i></span></blockquote>
<span style="color: #660000;"><i><br />
</i></span> <br />
<blockquote class="tr_bq">
<span style="color: #660000;"><i><span style="font-family: "quicksand" , sans-serif;">"</span></i></span><span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>The five separate fingers are five independent units. Close them and the fist multiplies strength. This is organization." James Cash Penney</i></span></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="und">
Portfolio summary - Dec-end<a href="https://twitter.com/search?q=%24AMZN&src=ctag&ref_src=twsrc%5Etfw">$AMZN</a> <a href="https://twitter.com/search?q=%24AYX&src=ctag&ref_src=twsrc%5Etfw">$AYX</a> <a href="https://twitter.com/search?q=%24BABA&src=ctag&ref_src=twsrc%5Etfw">$BABA</a> <a href="https://twitter.com/search?q=%24DOCU&src=ctag&ref_src=twsrc%5Etfw">$DOCU</a> <a href="https://twitter.com/search?q=%24ESTC&src=ctag&ref_src=twsrc%5Etfw">$ESTC</a> <a href="https://twitter.com/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw">$FB</a> <a href="https://twitter.com/search?q=%24GOOGL&src=ctag&ref_src=twsrc%5Etfw">$GOOGL</a> <a href="https://twitter.com/search?q=%24GSX&src=ctag&ref_src=twsrc%5Etfw">$GSX</a> <a href="https://twitter.com/search?q=%24LK&src=ctag&ref_src=twsrc%5Etfw">$LK</a> <a href="https://twitter.com/search?q=%24LVGO&src=ctag&ref_src=twsrc%5Etfw">$LVGO</a> <a href="https://twitter.com/search?q=%24MELI&src=ctag&ref_src=twsrc%5Etfw">$MELI</a> <a href="https://twitter.com/search?q=%24PIAHY&src=ctag&ref_src=twsrc%5Etfw">$PIAHY</a> <a href="https://twitter.com/search?q=%24PINS&src=ctag&ref_src=twsrc%5Etfw">$PINS</a> <a href="https://twitter.com/search?q=%24PYPL&src=ctag&ref_src=twsrc%5Etfw">$PYPL</a> <a href="https://twitter.com/search?q=%24ROKU&src=ctag&ref_src=twsrc%5Etfw">$ROKU</a> <a href="https://twitter.com/search?q=%24SE&src=ctag&ref_src=twsrc%5Etfw">$SE</a> <a href="https://twitter.com/search?q=%24SPCE&src=ctag&ref_src=twsrc%5Etfw">$SPCE</a> <a href="https://twitter.com/search?q=%24SQ&src=ctag&ref_src=twsrc%5Etfw">$SQ</a> <a href="https://twitter.com/search?q=%24STNE&src=ctag&ref_src=twsrc%5Etfw">$STNE</a> <a href="https://twitter.com/search?q=%24TAL&src=ctag&ref_src=twsrc%5Etfw">$TAL</a> <a href="https://twitter.com/search?q=%24TCEHY&src=ctag&ref_src=twsrc%5Etfw">$TCEHY</a> <a href="https://twitter.com/search?q=%24TWLO&src=ctag&ref_src=twsrc%5Etfw">$TWLO</a> <a href="https://twitter.com/search?q=%24WORK&src=ctag&ref_src=twsrc%5Etfw">$WORK</a> <a href="https://twitter.com/search?q=%24ZS&src=ctag&ref_src=twsrc%5Etfw">$ZS</a> <br />
<br />
No hedges in place.<br />
<br />
YTD performance - <br />
<br />
Portfolio +13.45% , <a href="https://twitter.com/search?q=%24ACWI&src=ctag&ref_src=twsrc%5Etfw">$ACWI</a> +26.58% , <a href="https://twitter.com/search?q=%24SPX&src=ctag&ref_src=twsrc%5Etfw">$SPX</a> +28.88%<br />
<br />
contd... <a href="https://t.co/UmHOiKRWYi">pic.twitter.com/UmHOiKRWYi</a></div>
— Puru Saxena (@saxena_puru) <a href="https://twitter.com/saxena_puru/status/1212171304549269504?ref_src=twsrc%5Etfw">January 1, 2020</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Happy New Year! End of year top holdings and final YTD results:<br />
<br />
SWKS 8.7% of portfolio<br />
AMZN 8.2%<br />
MA 7.5%<br />
GOOGL 7.0%<br />
FB 6.7%<br />
PYPL 6.2%<br />
DIS 5.6%<br />
MSFT 5.5%<br />
GPN 3.4%<br />
SQ 3.3%<br />
HD 3.2%<br />
SHOP 3.0%<br />
PAYC 3.0%<br />
VZ 2.4%<br />
HAS 2.3%<br />
JPM 2.2%<br />
EA 2.2%<br />
BABA 2.2%<br />
GLW 2.1%<br />
ADBE 2.0%<br />
MELI 1.7%<br />
MDB 1.6% <a href="https://t.co/GYMwp371w8">https://t.co/GYMwp371w8</a></div>
— Matthew Cochrane (@FoolMCochrane) <a href="https://twitter.com/FoolMCochrane/status/1212455909005373440?ref_src=twsrc%5Etfw">January 1, 2020</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
My end of year top holdings:<a href="https://twitter.com/search?q=%24MA&src=ctag&ref_src=twsrc%5Etfw">$MA</a> 8%<a href="https://twitter.com/search?q=%24GOOG&src=ctag&ref_src=twsrc%5Etfw">$GOOG</a> 7%<a href="https://twitter.com/search?q=%24MELI&src=ctag&ref_src=twsrc%5Etfw">$MELI</a> 7%<a href="https://twitter.com/search?q=%24AMZN&src=ctag&ref_src=twsrc%5Etfw">$AMZN</a> 6%<a href="https://twitter.com/search?q=%24NFLX&src=ctag&ref_src=twsrc%5Etfw">$NFLX</a> 6%<a href="https://twitter.com/search?q=%24BKNG&src=ctag&ref_src=twsrc%5Etfw">$BKNG</a> 6%<a href="https://twitter.com/search?q=%24ISRG&src=ctag&ref_src=twsrc%5Etfw">$ISRG</a> 5%<a href="https://twitter.com/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw">$FB</a> 5%<a href="https://twitter.com/search?q=%24SBUX&src=ctag&ref_src=twsrc%5Etfw">$SBUX</a> 5%<a href="https://twitter.com/search?q=%24V&src=ctag&ref_src=twsrc%5Etfw">$V</a> 4%<a href="https://twitter.com/search?q=%24PAYC&src=ctag&ref_src=twsrc%5Etfw">$PAYC</a> 4%<a href="https://twitter.com/search?q=%24DOCU&src=ctag&ref_src=twsrc%5Etfw">$DOCU</a> 3%<a href="https://twitter.com/search?q=%24ADBE&src=ctag&ref_src=twsrc%5Etfw">$ADBE</a> 3%<a href="https://twitter.com/search?q=%24SQ&src=ctag&ref_src=twsrc%5Etfw">$SQ</a> 2%<a href="https://twitter.com/search?q=%24ADSK&src=ctag&ref_src=twsrc%5Etfw">$ADSK</a> 2%<a href="https://twitter.com/search?q=%24TSLA&src=ctag&ref_src=twsrc%5Etfw">$TSLA</a> 2%</div>
— Brian Feroldi (@BrianFeroldi) <a href="https://twitter.com/BrianFeroldi/status/1212525483323248640?ref_src=twsrc%5Etfw">January 2, 2020</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Here's how the new year begins for my portfolio (by % of invested assets, rounded any may not add to 100%): <a href="https://twitter.com/search?q=%24SSRM&src=ctag&ref_src=twsrc%5Etfw">$SSRM</a> 61.5%<a href="https://twitter.com/search?q=%24AG&src=ctag&ref_src=twsrc%5Etfw">$AG</a> 15.9%<a href="https://twitter.com/search?q=%24TEVA&src=ctag&ref_src=twsrc%5Etfw">$TEVA</a> 11%<a href="https://twitter.com/search?q=%24BAC&src=ctag&ref_src=twsrc%5Etfw">$BAC</a> 3.9%<a href="https://twitter.com/search?q=%24ICPT&src=ctag&ref_src=twsrc%5Etfw">$ICPT</a> 3.2%<a href="https://twitter.com/search?q=%24EXEL&src=ctag&ref_src=twsrc%5Etfw">$EXEL</a> 1.5%<a href="https://twitter.com/search?q=%24NE&src=ctag&ref_src=twsrc%5Etfw">$NE</a> 1%<a href="https://twitter.com/search?q=%24CVS&src=ctag&ref_src=twsrc%5Etfw">$CVS</a> 1%<a href="https://twitter.com/search?q=%24T&src=ctag&ref_src=twsrc%5Etfw">$T</a> 0.3%<a href="https://twitter.com/search?q=%24LOVE&src=ctag&ref_src=twsrc%5Etfw">$LOVE</a> 0.3%<a href="https://twitter.com/search?q=%24FLR&src=ctag&ref_src=twsrc%5Etfw">$FLR</a> 0.2%<a href="https://twitter.com/search?q=%24KSHB&src=ctag&ref_src=twsrc%5Etfw">$KSHB</a> 0.1%<a href="https://twitter.com/search?q=%24CTST&src=ctag&ref_src=twsrc%5Etfw">$CTST</a> < 0.1%</div>
— Sean Williams (@TMFUltraLong) <a href="https://twitter.com/TMFUltraLong/status/1212483628107587585?ref_src=twsrc%5Etfw">January 1, 2020</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Top Picks for 2020 5 Longs and 5 Short</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
My Top Picks for 2020: 5 Longs and 5 Shorts: <br />
Longs: <a href="https://twitter.com/search?q=%24AYX&src=ctag&ref_src=twsrc%5Etfw">$AYX</a>, <a href="https://twitter.com/search?q=%24ESTC&src=ctag&ref_src=twsrc%5Etfw">$ESTC</a>, <a href="https://twitter.com/search?q=%24SDI&src=ctag&ref_src=twsrc%5Etfw">$SDI</a>, <a href="https://twitter.com/search?q=%24SEAC&src=ctag&ref_src=twsrc%5Etfw">$SEAC</a>, <a href="https://twitter.com/search?q=%24EVI&src=ctag&ref_src=twsrc%5Etfw">$EVI</a><br />
Shorts: <a href="https://twitter.com/search?q=%24CVNA&src=ctag&ref_src=twsrc%5Etfw">$CVNA</a>, <a href="https://twitter.com/search?q=%24BYND&src=ctag&ref_src=twsrc%5Etfw">$BYND</a>, <a href="https://twitter.com/search?q=%24CDZI&src=ctag&ref_src=twsrc%5Etfw">$CDZI</a>, <a href="https://twitter.com/search?q=%24TRUP&src=ctag&ref_src=twsrc%5Etfw">$TRUP</a>, <a href="https://twitter.com/search?q=%24PCG&src=ctag&ref_src=twsrc%5Etfw">$PCG</a> <a href="https://t.co/jIcke53RTR">pic.twitter.com/jIcke53RTR</a></div>
— Long Short Value (@LSValue) <a href="https://twitter.com/LSValue/status/1212844136530878464?ref_src=twsrc%5Etfw">January 2, 2020</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Here’s my portfolio heading into the new year:<br />
<br />
AMT 15.5%<br />
AMZN 13.2%<br />
COUP 11.0%<br />
AYX 9.9%<br />
MA 9.0%<br />
SHOP 7.9%<br />
TDG 7.5%<br />
HEI/A 7.4%<br />
SBAC 7.3%<br />
SMAR 4.3%<br />
TTD 2.9%<br />
ZS 2.3%<br />
CRWD 1.8%<br />
<br />
Ended 2019 up 50%, with a more concentrated portfolio.</div>
— Locked-Up Capital (@lockedupcap) <a href="https://twitter.com/lockedupcap/status/1212725016980316161?ref_src=twsrc%5Etfw">January 2, 2020</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Just sent-out my december portfolio update. Here are my holdings as of today:<br />
<br />
Cash (13.62%)*<a href="https://twitter.com/search?q=%24SQ&src=ctag&ref_src=twsrc%5Etfw">$SQ</a> (13.24%)<a href="https://twitter.com/search?q=%24AAXN&src=ctag&ref_src=twsrc%5Etfw">$AAXN</a> (10.77%)<a href="https://twitter.com/search?q=%24SPOT&src=ctag&ref_src=twsrc%5Etfw">$SPOT</a> (10.55%)<a href="https://twitter.com/search?q=%24YEXT&src=ctag&ref_src=twsrc%5Etfw">$YEXT</a> (10.17%)<a href="https://twitter.com/search?q=%24JD&src=ctag&ref_src=twsrc%5Etfw">$JD</a> (9.32%)<a href="https://twitter.com/search?q=%24DIS&src=ctag&ref_src=twsrc%5Etfw">$DIS</a> (6.8%)<a href="https://twitter.com/search?q=%24ATVI&src=ctag&ref_src=twsrc%5Etfw">$ATVI</a> (6.29%)<a href="https://twitter.com/search?q=%24MDB&src=ctag&ref_src=twsrc%5Etfw">$MDB</a> (6.19%)<a href="https://twitter.com/search?q=%24EA&src=ctag&ref_src=twsrc%5Etfw">$EA</a> (5.06%)<a href="https://twitter.com/search?q=%24TDOC&src=ctag&ref_src=twsrc%5Etfw">$TDOC</a> (4.92%)<a href="https://twitter.com/search?q=%24TTD&src=ctag&ref_src=twsrc%5Etfw">$TTD</a> (3.05%)<a href="https://t.co/7ncqdzOZRw">https://t.co/7ncqdzOZRw</a></div>
— Brett Schafer (@CCM_Brett) <a href="https://twitter.com/CCM_Brett/status/1212609460201377792?ref_src=twsrc%5Etfw">January 2, 2020</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
End of year top holdings in the Freedom Portfolio:<a href="https://twitter.com/search?q=%24SHOP&src=ctag&ref_src=twsrc%5Etfw">$SHOP</a> 13% <a href="https://twitter.com/search?q=%24AMZN&src=ctag&ref_src=twsrc%5Etfw">$AMZN</a> 10%<a href="https://twitter.com/search?q=%24MELI&src=ctag&ref_src=twsrc%5Etfw">$MELI</a> 10%<a href="https://twitter.com/search?q=%24DIS&src=ctag&ref_src=twsrc%5Etfw">$DIS</a> 6%<a href="https://twitter.com/search?q=%24NFLX&src=ctag&ref_src=twsrc%5Etfw">$NFLX</a> 5%<a href="https://twitter.com/search?q=%24NVCR&src=ctag&ref_src=twsrc%5Etfw">$NVCR</a> 5%<a href="https://twitter.com/search?q=%24TSLA&src=ctag&ref_src=twsrc%5Etfw">$TSLA</a> 5%<a href="https://twitter.com/search?q=%24SQ&src=ctag&ref_src=twsrc%5Etfw">$SQ</a> 4%<a href="https://twitter.com/search?q=%24JD&src=ctag&ref_src=twsrc%5Etfw">$JD</a> 4%<a href="https://twitter.com/search?q=%24RDFN&src=ctag&ref_src=twsrc%5Etfw">$RDFN</a> 4%<a href="https://twitter.com/search?q=%24TDOC&src=ctag&ref_src=twsrc%5Etfw">$TDOC</a> 4%<a href="https://twitter.com/search?q=%24BABA&src=ctag&ref_src=twsrc%5Etfw">$BABA</a> 4%<a href="https://twitter.com/search?q=%24IQ&src=ctag&ref_src=twsrc%5Etfw">$IQ</a> 4%<a href="https://twitter.com/search?q=%24TTD&src=ctag&ref_src=twsrc%5Etfw">$TTD</a> 3%<a href="https://twitter.com/search?q=%24CRSP&src=ctag&ref_src=twsrc%5Etfw">$CRSP</a> 3%<a href="https://twitter.com/search?q=%24BZUN&src=ctag&ref_src=twsrc%5Etfw">$BZUN</a> 3%</div>
— Paul Essen (@paul_essen) <a href="https://twitter.com/paul_essen/status/1212736979256971265?ref_src=twsrc%5Etfw">January 2, 2020</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Portfolio going into 2020: <br />
<br />
$M12<a href="https://twitter.com/search?q=%24KWS&src=ctag&ref_src=twsrc%5Etfw">$KWS</a> <a href="https://twitter.com/search?q=%24Kambi&src=ctag&ref_src=twsrc%5Etfw">$Kambi</a><a href="https://twitter.com/search?q=%24HUYA&src=ctag&ref_src=twsrc%5Etfw">$HUYA</a><a href="https://twitter.com/search?q=%24MTG&src=ctag&ref_src=twsrc%5Etfw">$MTG</a>-B <a href="https://twitter.com/search?q=%24YY&src=ctag&ref_src=twsrc%5Etfw">$YY</a><a href="https://twitter.com/search?q=%24PAR&src=ctag&ref_src=twsrc%5Etfw">$PAR</a><a href="https://twitter.com/search?q=%24YNDX&src=ctag&ref_src=twsrc%5Etfw">$YNDX</a><br />
<br />
+ a few small caps</div>
— Alex Haak (@Badpak) <a href="https://twitter.com/Badpak/status/1212761360037269507?ref_src=twsrc%5Etfw">January 2, 2020</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Portfolio: Jan 2020<br />
Payments<a href="https://twitter.com/search?q=%24SQ&src=ctag&ref_src=twsrc%5Etfw">$SQ</a>, <a href="https://twitter.com/search?q=%24MA&src=ctag&ref_src=twsrc%5Etfw">$MA</a>, <a href="https://twitter.com/search?q=%24PYPL&src=ctag&ref_src=twsrc%5Etfw">$PYPL</a>, <a href="https://twitter.com/search?q=%24PAGS&src=ctag&ref_src=twsrc%5Etfw">$PAGS</a><br />
<br />
SaaS<a href="https://twitter.com/search?q=%24ESTC&src=ctag&ref_src=twsrc%5Etfw">$ESTC</a>, <a href="https://twitter.com/search?q=%24BL&src=ctag&ref_src=twsrc%5Etfw">$BL</a>, <a href="https://twitter.com/search?q=%24DDOG&src=ctag&ref_src=twsrc%5Etfw">$DDOG</a>, <a href="https://twitter.com/search?q=%24WORK&src=ctag&ref_src=twsrc%5Etfw">$WORK</a><br />
<br />
Healthcare<a href="https://twitter.com/search?q=%24NVTA&src=ctag&ref_src=twsrc%5Etfw">$NVTA</a>, <a href="https://twitter.com/search?q=%24ILMN&src=ctag&ref_src=twsrc%5Etfw">$ILMN</a>, <a href="https://twitter.com/search?q=%24WELL&src=ctag&ref_src=twsrc%5Etfw">$WELL</a>, <a href="https://twitter.com/search?q=%24GH&src=ctag&ref_src=twsrc%5Etfw">$GH</a><br />
<br />
Platforms<a href="https://twitter.com/search?q=%24TTD&src=ctag&ref_src=twsrc%5Etfw">$TTD</a>, <a href="https://twitter.com/search?q=%24BZUN&src=ctag&ref_src=twsrc%5Etfw">$BZUN</a><br />
<br />
Capital allocators<a href="https://twitter.com/search?q=%24CSU.TO&src=ctag&ref_src=twsrc%5Etfw">$CSU.TO</a><br />
<br />
E-commerce<a href="https://twitter.com/search?q=%24SE&src=ctag&ref_src=twsrc%5Etfw">$SE</a><br />
<br />
Consulting<a href="https://twitter.com/search?q=%24NVEE&src=ctag&ref_src=twsrc%5Etfw">$NVEE</a><br />
<br />
Cash<br />
💰<br />
<br />
No additions last month. Building up the cash reserve</div>
— THE RENEGADE 🇿🇼+🇿🇦 +🇦🇺 (@trevmuchedzi) <a href="https://twitter.com/trevmuchedzi/status/1212609626207744001?ref_src=twsrc%5Etfw">January 2, 2020</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="und">
Stocks to Watch 2020<a href="https://twitter.com/search?q=%24STNE&src=ctag&ref_src=twsrc%5Etfw">$STNE</a> - $39.89<a href="https://twitter.com/search?q=%24OKTA&src=ctag&ref_src=twsrc%5Etfw">$OKTA</a> - $115.37<a href="https://twitter.com/search?q=%24ROKU&src=ctag&ref_src=twsrc%5Etfw">$ROKU</a> - $133.90<a href="https://twitter.com/search?q=%24ZM&src=ctag&ref_src=twsrc%5Etfw">$ZM</a> - $68.04<a href="https://twitter.com/search?q=%24LVGO&src=ctag&ref_src=twsrc%5Etfw">$LVGO</a> - $25.06<a href="https://twitter.com/search?q=%24WORK&src=ctag&ref_src=twsrc%5Etfw">$WORK</a> - $22.48<a href="https://twitter.com/search?q=%24SQ&src=ctag&ref_src=twsrc%5Etfw">$SQ</a> - $62.56<a href="https://twitter.com/search?q=%24CGC&src=ctag&ref_src=twsrc%5Etfw">$CGC</a> - $21.09<a href="https://twitter.com/search?q=%24CRWD&src=ctag&ref_src=twsrc%5Etfw">$CRWD</a> - $49.87<a href="https://twitter.com/search?q=%24TCEHY&src=ctag&ref_src=twsrc%5Etfw">$TCEHY</a> - $48.01<a href="https://twitter.com/search?q=%24PYPL&src=ctag&ref_src=twsrc%5Etfw">$PYPL</a> - $108.17<a href="https://twitter.com/search?q=%24MDB&src=ctag&ref_src=twsrc%5Etfw">$MDB</a> - $131.61<a href="https://twitter.com/search?q=%24SNAP&src=ctag&ref_src=twsrc%5Etfw">$SNAP</a> - $16.33<a href="https://twitter.com/search?q=%24SHOP&src=ctag&ref_src=twsrc%5Etfw">$SHOP</a> - $397.58<a href="https://twitter.com/search?q=%24SE&src=ctag&ref_src=twsrc%5Etfw">$SE</a> - $40.22<a href="https://t.co/EHMGzUl5GU">https://t.co/EHMGzUl5GU</a></div>
— Chris Perruna (@cperruna) <a href="https://twitter.com/cperruna/status/1212567233815351297?ref_src=twsrc%5Etfw">January 2, 2020</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="fi">
My portfolio as of 1/02/2020:<a href="https://twitter.com/search?q=%24LVGO&src=ctag&ref_src=twsrc%5Etfw">$LVGO</a> <a href="https://twitter.com/search?q=%24AYX&src=ctag&ref_src=twsrc%5Etfw">$AYX</a> <a href="https://twitter.com/search?q=%24CRWD&src=ctag&ref_src=twsrc%5Etfw">$CRWD</a> <a href="https://twitter.com/search?q=%24ESTC&src=ctag&ref_src=twsrc%5Etfw">$ESTC</a> <a href="https://twitter.com/search?q=%24ZS&src=ctag&ref_src=twsrc%5Etfw">$ZS</a> <a href="https://twitter.com/search?q=%24MDB&src=ctag&ref_src=twsrc%5Etfw">$MDB</a> <a href="https://twitter.com/search?q=%24DDOG&src=ctag&ref_src=twsrc%5Etfw">$DDOG</a> <a href="https://twitter.com/search?q=%24ROKU&src=ctag&ref_src=twsrc%5Etfw">$ROKU</a> <a href="https://twitter.com/search?q=%24ZM&src=ctag&ref_src=twsrc%5Etfw">$ZM</a> <a href="https://twitter.com/search?q=%24FSLY&src=ctag&ref_src=twsrc%5Etfw">$FSLY</a> <a href="https://twitter.com/search?q=%24PSNL&src=ctag&ref_src=twsrc%5Etfw">$PSNL</a> <a href="https://twitter.com/search?q=%24GBTC&src=ctag&ref_src=twsrc%5Etfw">$GBTC</a> <a href="https://twitter.com/search?q=%24TTD&src=ctag&ref_src=twsrc%5Etfw">$TTD</a> <br />
<br />
Changes:<br />
Added: LVGO, CRWD, LINK<br />
Reduced: TTD, MDB<br />
Sold Out: PLAN <a href="https://t.co/F09NXsdT8f">pic.twitter.com/F09NXsdT8f</a></div>
— Richard Chu (@richard_chu97) <a href="https://twitter.com/richard_chu97/status/1212924418273562625?ref_src=twsrc%5Etfw">January 3, 2020</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Top 10 best performers of 2019 in the SP500</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Top 10 best performers of 2019 in the <a href="https://twitter.com/hashtag/SP500?src=hash&ref_src=twsrc%5Etfw">#SP500</a>:<br />
<br />
1. AMD <a href="https://twitter.com/search?q=%24AMD&src=ctag&ref_src=twsrc%5Etfw">$AMD</a>: 148%<br />
2. LAM RESEARCH <a href="https://twitter.com/search?q=%24LRCX&src=ctag&ref_src=twsrc%5Etfw">$LRCX</a>: 115%<br />
3. KLA CORP <a href="https://twitter.com/search?q=%24KLAC&src=ctag&ref_src=twsrc%5Etfw">$KLAC</a>: 99%<br />
4. TARGET <a href="https://twitter.com/search?q=%24TGT&src=ctag&ref_src=twsrc%5Etfw">$TGT</a>: 94%<br />
5. CHIPOTLE <a href="https://twitter.com/search?q=%24CMG&src=ctag&ref_src=twsrc%5Etfw">$CMG</a>: 94%<br />
6. QORVO <a href="https://twitter.com/search?q=%24QRVO&src=ctag&ref_src=twsrc%5Etfw">$QRVO</a>: 91%<br />
7. COPART <a href="https://twitter.com/search?q=%24CPRT&src=ctag&ref_src=twsrc%5Etfw">$CPRT</a>: 90%<br />
8. XEROX <a href="https://twitter.com/search?q=%24XRX&src=ctag&ref_src=twsrc%5Etfw">$XRX</a>: 87%<br />
9. APPLIED MAT. <a href="https://twitter.com/search?q=%24AMAT&src=ctag&ref_src=twsrc%5Etfw">$AMAT</a>: 86%<br />
10. APPLE <a href="https://twitter.com/search?q=%24AAPL&src=ctag&ref_src=twsrc%5Etfw">$AAPL</a>: 86%<a href="https://twitter.com/search?q=%24SPX&src=ctag&ref_src=twsrc%5Etfw">$SPX</a> <a href="https://twitter.com/search?q=%24SPY&src=ctag&ref_src=twsrc%5Etfw">$SPY</a></div>
— 11Graphs (@11Graphs) <a href="https://twitter.com/11Graphs/status/1212702255029374977?ref_src=twsrc%5Etfw">January 2, 2020</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Portfolio heading into 2020<br />
<br />
GAN - 46%<br />
MIPS - 6%<br />
Games Workshop - 6%<br />
On The Beach - 6%<br />
Microsoft - 6%<br />
Tencent - 6%<br />
Facebook - 6%<br />
Best of the Best - 5%<br />
Soitec - 4%<br />
PagSeguro - 4%<br />
Mastercard - 3%<br />
Alteryx - 1%<br />
Elastic - 1%<br />
Smartsheet - 1%<br />
<br />
Got a lot riding on you GAN!</div>
— Sahara (@saharainvesting) <a href="https://twitter.com/saharainvesting/status/1212414097016397825?ref_src=twsrc%5Etfw">January 1, 2020</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Portfolio</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
My 25/4% Portfolio heading into 2020:<a href="https://twitter.com/search?q=%24APT&src=ctag&ref_src=twsrc%5Etfw">$APT</a><a href="https://twitter.com/search?q=%24CYAN&src=ctag&ref_src=twsrc%5Etfw">$CYAN</a><a href="https://twitter.com/search?q=%24DAIO&src=ctag&ref_src=twsrc%5Etfw">$DAIO</a><a href="https://twitter.com/search?q=%24IVFH&src=ctag&ref_src=twsrc%5Etfw">$IVFH</a><a href="https://twitter.com/search?q=%24NWL&src=ctag&ref_src=twsrc%5Etfw">$NWL</a><a href="https://twitter.com/search?q=%24PCTI&src=ctag&ref_src=twsrc%5Etfw">$PCTI</a><a href="https://twitter.com/search?q=%24RAIL&src=ctag&ref_src=twsrc%5Etfw">$RAIL</a><a href="https://twitter.com/search?q=%24TRIB&src=ctag&ref_src=twsrc%5Etfw">$TRIB</a><br />
<br />
17 names still TBD. 4% is initial position. Rebalancing philosophy "in-work".<br />
<br />
PS: I hold additional "legacy" positions that are not part of the 25/4% strategy, two of which are very large.</div>
— JLB (@VanderbiltStCap) <a href="https://twitter.com/VanderbiltStCap/status/1212059576830439425?ref_src=twsrc%5Etfw">December 31, 2019</a> </blockquote>
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-42252667124096913672020-01-01T11:30:00.000-05:002020-01-01T11:30:11.941-05:00Selected Tweets<span style="font-family: "quicksand" , sans-serif;">It's time for some tweets.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">Thanks for reading.</span><br />
<br />
<blockquote class="tr_bq">
<span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>"</i></span><span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>A company is only as good as the people it keeps." Mary Kay Ash</i></span></blockquote>
<span style="color: #660000;"><i><br />
</i></span> <br />
<blockquote class="tr_bq">
<span style="color: #660000;"><i><span style="font-family: "quicksand" , sans-serif;">"</span></i></span><span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>Business is a combination of war and sport." Andre Maurois</i></span></blockquote>
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<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$INTU Podcast\Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24INTU&src=ctag&ref_src=twsrc%5Etfw">$INTU</a> <br />
<br />
The AMM Dividend Growth Podcast Episode 4 – How Intuit is Building a Moat Around QuickBooks Online<a href="https://t.co/mIQkPYsnXt">https://t.co/mIQkPYsnXt</a></div>
— Jerry Capital (@JerryCap) <a href="https://twitter.com/JerryCap/status/1184496284104908800?ref_src=twsrc%5Etfw">October 16, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$FB Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
After holding for more than 7 years, I'm seriously considering selling all of my shares of Facebook <a href="https://twitter.com/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw">$FB</a>.<br />
<br />
IMHO, the company's uncertainties and risks are both elevating to levels that I'm not comfortable with.<br />
<br />
Someone tell me that I'm wrong, paranoid, or crazy.</div>
— Simon Erickson (@TMFInnovator) <a href="https://twitter.com/TMFInnovator/status/1184164242351689728?ref_src=twsrc%5Etfw">October 15, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$GPN Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
I can see how this can be a concern. Been digging into this a bit and here’s my take: probably some truth in the claim but likely mixing 🍎 with 🍊 so missing the bigger picture, which by the way I did not realize until digging deeper today at <a href="https://twitter.com/BillBrewsterSCG?ref_src=twsrc%5Etfw">@BillBrewsterSCG</a>’s suggestion. Thx</div>
— CORE Dental DDS (@CoreDentalDDS) <a href="https://twitter.com/CoreDentalDDS/status/1182841146382442496?ref_src=twsrc%5Etfw">October 12, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$PATK Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1./ Here is a cool story about the chart below of Patrick Industries <a href="https://twitter.com/search?q=%24PATK&src=ctag&ref_src=twsrc%5Etfw">$PATK</a> <a href="https://t.co/m4ZDaJYmPr">pic.twitter.com/m4ZDaJYmPr</a></div>
— Ian Cassel (@iancassel) <a href="https://twitter.com/iancassel/status/1184184983637975040?ref_src=twsrc%5Etfw">October 15, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$SPOT Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Thread on <a href="https://twitter.com/search?q=%24SPOT&src=ctag&ref_src=twsrc%5Etfw">$SPOT</a> margins<br />
<br />
Bulls believe that <a href="https://twitter.com/search?q=%24SPOT&src=ctag&ref_src=twsrc%5Etfw">$SPOT</a> GM can eventually get to 35% driven by increasing bargaining power vs. labels as it continues to scale, contribute increasing portion of industry revenue and entrench users via discovery. I still think that is a tricky thesis</div>
— compound (@compound100x) <a href="https://twitter.com/compound100x/status/1183957418767613952?ref_src=twsrc%5Etfw">October 15, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$ROKU Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Some of the reasons why I've invested in <a href="https://twitter.com/search?q=%24ROKU&src=ctag&ref_src=twsrc%5Etfw">$ROKU</a> <br />
<br />
1) Market share - <a href="https://t.co/L2FnGS7LWW">pic.twitter.com/L2FnGS7LWW</a></div>
— Puru Saxena (@saxena_puru) <a href="https://twitter.com/saxena_puru/status/1183899930751930377?ref_src=twsrc%5Etfw">October 15, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$WDAY Convesration</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
the dynamic in Saas is that it costs a lot to bring new subscribers (let's say $1.5 in marketing for $1 of revenue), less to upsell an existing one (let's say $0.9 for $1) and much less for renewal ($0.1 for $1)</div>
— Emilgold (@emilio_gold) <a href="https://twitter.com/emilio_gold/status/1183494736285519875?ref_src=twsrc%5Etfw">October 13, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$WEN Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
WEN = 1st restaurant franchisor Ive seen say publicly they will roll out dark kitchens on top of their existing footprint (from their investor day) <a href="https://t.co/C57j1nRaHk">pic.twitter.com/C57j1nRaHk</a></div>
— Bluegrass Capital (@BluegrassCap) <a href="https://twitter.com/BluegrassCap/status/1183725697514250245?ref_src=twsrc%5Etfw">October 14, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Chartstravaganza</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Here’s Chartstravaganza … not so passive entertainment <a href="https://t.co/IUwLR06FFT">pic.twitter.com/IUwLR06FFT</a></div>
— Plan Maestro (@PlanMaestro) <a href="https://twitter.com/PlanMaestro/status/1183393986981089285?ref_src=twsrc%5Etfw">October 13, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Some Charts from KeyBanc Capital Markets StackOverflow</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
KBCM's StackOverflow developer tracker <a href="https://t.co/aD3DsoSzSU">pic.twitter.com/aD3DsoSzSU</a></div>
— Value_Biased (@ValueBiased) <a href="https://twitter.com/ValueBiased/status/1183780192181018626?ref_src=twsrc%5Etfw">October 14, 2019</a></blockquote>
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<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
<div class="separator" style="clear: both; text-align: center;">
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-85963048592043731822019-12-24T07:48:00.001-05:002019-12-24T07:48:29.006-05:00Selected Tweets<span style="font-family: "quicksand" , sans-serif;">It's time for some tweets.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">Thanks for reading.</span><br />
<br />
<blockquote class="tr_bq">
<span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>"</i></span><span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>The reason that 'guru' is such a popular word is because 'charlatan' is so hard to spell." </i></span><i style="color: #660000; font-family: quicksand, sans-serif;">William J. Bernstein</i></blockquote>
<span style="color: #660000;"><i><br />
</i></span> <br />
<blockquote class="tr_bq">
<span style="color: #660000;"><i><span style="font-family: "quicksand" , sans-serif;">"</span></i></span><span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>It's human nature to find patterns where there are none and to find skill where luck is a more likely explanation (particularly if you're the lucky manager)." </i></span><i style="color: #660000; font-family: quicksand, sans-serif;">William J. Bernstein</i></blockquote>
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<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$NFLX Netflix Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Two fun facts to start this one:<br />
<br />
1) Netflix is planning to spend $15 billion on content in 2019. <br />
<br />
2) The company added 4x the number of international subscribers than in the US. <br />
<br />
2018<br />
International additions: 22.94 million<br />
US addition: 5.68 million <a href="https://t.co/b2PNGrnZ0W">https://t.co/b2PNGrnZ0W</a></div>
— Ryan Reeves (@investing_city) <a href="https://twitter.com/investing_city/status/1183121065771335680?ref_src=twsrc%5Etfw">October 12, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Thread on $BRK.B Berkshire Hathaway</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Because I view this investment a bit like a marriage. There are flaws but over the long run I think the benefits outweigh the costs. V, MA, and COST misses annoy me a lot. MSFT and GOOG less so. <br />
<br />
The OXY debt was a good deal. He claimed he was negotiating with a big fish in Dec.</div>
— Bill Brewster (@BillBrewsterSCG) <a href="https://twitter.com/BillBrewsterSCG/status/1183065828436205568?ref_src=twsrc%5Etfw">October 12, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>I liked this videos from Shopify CEO Tobi Lutke $SHOP</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
I sometimes do company internal ask-me-anything on Fridays. Let’s do it on Twitter today! Happy to talk about tech, ecommerce, company building, programming, hats. Send questions via hashtag <a href="https://twitter.com/hashtag/asktobi?src=hash&ref_src=twsrc%5Etfw">#asktobi</a></div>
— Tobi Lutke 🌳🌲 (@tobi) <a href="https://twitter.com/tobi/status/1182636328531496961?ref_src=twsrc%5Etfw">October 11, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$LII </u></span><span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Lennox International Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1/n <a href="https://twitter.com/search?q=%24lii&src=ctag&ref_src=twsrc%5Etfw">$lii</a> is a bet on global warming. Hotter summers = higher sales numbers. <a href="https://t.co/WqILjDBHUq">pic.twitter.com/WqILjDBHUq</a></div>
— Pythia Cap(ital) (@PythiaR) <a href="https://twitter.com/PythiaR/status/1181944327812964353?ref_src=twsrc%5Etfw">October 9, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$PD PagerDuty Competitive Position Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
PagerDuty <a href="https://twitter.com/search?q=%24PD&src=ctag&ref_src=twsrc%5Etfw">$PD</a> Day 2: Marketing & Competitive Analysis (1.5 hrs)<br />
<br />
As a second step, I want to learn about how the company is competitively positioned in the market.<br />
<br />
Let's look at how it's priced, how it's reviewed by customers, and how large its addressable market could be.<br />
<br />
1/10 <a href="https://t.co/yzH7TqK1iO">https://t.co/yzH7TqK1iO</a></div>
— Simon Erickson (@TMFInnovator) <a href="https://twitter.com/TMFInnovator/status/1182274957646159872?ref_src=twsrc%5Etfw">October 10, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$ADYEY Adyen Long Thesis on VIC</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Ayden VIC Long Thesis<a href="https://t.co/u44uC93wMf">https://t.co/u44uC93wMf</a></div>
— Jerry Capital (@JerryCap) <a href="https://twitter.com/JerryCap/status/1182291950457757706?ref_src=twsrc%5Etfw">October 10, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$PYPL PayPal Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24PYPL&src=ctag&ref_src=twsrc%5Etfw">$PYPL</a> is quietly cutting product development costs <a href="https://t.co/8NSUlreVrd">pic.twitter.com/8NSUlreVrd</a></div>
— CT Capital (@CrowdedTradeCap) <a href="https://twitter.com/CrowdedTradeCap/status/1182239754844278784?ref_src=twsrc%5Etfw">October 10, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$</u></span><span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>CHYHY </u></span><u><span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;">Chr. Hansen Holding Thread</span></u><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24CHR&src=ctag&ref_src=twsrc%5Etfw">$CHR</a> DC F4Q results: "3% organic growth in Cultures & Enzymes (70% of group EBIT) compares with consensus of 5%, and is the weakest result in the company's reporting history since IPO" <a href="https://t.co/dkBjn5pBGK">https://t.co/dkBjn5pBGK</a> <a href="https://t.co/zT7DS9aEqw">pic.twitter.com/zT7DS9aEqw</a></div>
— WTCM (@WTCM3) <a href="https://twitter.com/WTCM3/status/1182287408219512833?ref_src=twsrc%5Etfw">October 10, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Books by topic. Great list.</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
I often ask for book/paper recommendations. In the hopes of getting a conversation started & finding new books, I’ll share some of my investing related favorites by topic (that I haven’t seen recommended much)...</div>
— eric boroian (@eboroian) <a href="https://twitter.com/eboroian/status/1182601216364339200?ref_src=twsrc%5Etfw">October 11, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>First Footage of NYSE (1938)</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
• First Footage of NYSE •<br />
<br />
New York Stock Exchange<br />
<br />
(1938)<br />
<br />
Remarkable.<br />
<br />
Think of every investor, broker, and transaction that has passed through this lasting monument to finance. This building has seen it all.<br />
<br />
So many stories.<br />
<br />
Videos like this provide perspective. <a href="https://t.co/vocT4rExgS">pic.twitter.com/vocT4rExgS</a></div>
— Jamie Catherwood (@jfc_3_) <a href="https://twitter.com/jfc_3_/status/1182425126240997377?ref_src=twsrc%5Etfw">October 10, 2019</a></blockquote>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaiT_BOBMva7QQFNxfYaQHNrhG2S7LLqX1kJxjW0vVO1Qlca1BPrR7AxmBluND2XqrzNy4VhKBsfwj13Kx-MVWYpZP5pe-uNS-fNp6KcHvDTk12Giaf52jgHIX1Is7a9Kt37q1PZRDAPC5/s1600/a.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="787" data-original-width="727" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaiT_BOBMva7QQFNxfYaQHNrhG2S7LLqX1kJxjW0vVO1Qlca1BPrR7AxmBluND2XqrzNy4VhKBsfwj13Kx-MVWYpZP5pe-uNS-fNp6KcHvDTk12Giaf52jgHIX1Is7a9Kt37q1PZRDAPC5/s400/a.jpg" width="368" /></a></div>
<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-62160823307682234962019-12-12T22:28:00.002-05:002019-12-12T22:28:58.978-05:00Selected Tweets<span style="font-family: "quicksand" , sans-serif;">It's time for some tweets.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">Thanks for reading.</span><br />
<br />
<blockquote class="tr_bq">
<span style="color: #660000; font-family: "quicksand" , sans-serif;"><i>"The only real difference between one organization and another is the performance of its people." Peter Drucker</i></span></blockquote>
<span style="color: #660000;"><i><br />
</i></span> <br />
<blockquote class="tr_bq">
<span style="color: #660000;"><i><span style="font-family: "quicksand" , sans-serif;">"</span><span style="font-family: "quicksand" , sans-serif;"></span><span style="font-family: "quicksand" , sans-serif;">The purpose of information is not knowledge. It is being able to take the right action." Peter Drucker</span></i></span></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$AMZN Amazon Business Breakdown</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Amazon it is. <br />
<br />
The company is infamous for "losing money." <br />
<br />
But did you know that it has been operating cash flow positive since 2002?<br />
<br />
[THREAD] <a href="https://t.co/b2PNGrnZ0W">https://t.co/b2PNGrnZ0W</a></div>
— Ryan Reeves (@investing_city) <a href="https://twitter.com/investing_city/status/1181347721568894976?ref_src=twsrc%5Etfw">October 7, 2019</a></blockquote>
<br />
<hr />
<u style="color: red; font-family: quicksand, sans-serif; font-size: x-large;">Plenty of ideas in this thread</u><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Name a company that is a lock to be far larger and more profitable in 10 years. At a 30% discount to the current price, you would put half your net worth in it, the stock market would close, and you'd go to the beach for 10 years. Aside from Berkshire. Bonus points for <$10 b cap</div>
— Long Hill Road Cap (@LongHillRoadCap) <a href="https://twitter.com/LongHillRoadCap/status/1180150256140464131?ref_src=twsrc%5Etfw">October 4, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$IPGP Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Sanguine on the commoditization risk as competitors move up the power curve? Great business btw, I like it but that is something that concerns me over the LT. I try to think about impacts of lower pricing in terms of margins & larger TAM...</div>
— MALUNACap (@maluna_cap) <a href="https://twitter.com/maluna_cap/status/1180188319201804292?ref_src=twsrc%5Etfw">October 4, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$SABR Cabre Corp Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24SABR&src=ctag&ref_src=twsrc%5Etfw">$SABR</a> CEO Sean Menke (May 2019): "what you're finding is essentially is ourselves and <a href="https://twitter.com/search?q=%24AMS&src=ctag&ref_src=twsrc%5Etfw">$AMS</a>, who is the other large GDS, continue to grow share... the third player, Travelport, has continued to shrink share really over the last 3, 4, 5 years" <a href="https://t.co/rpX6QzfxUU">pic.twitter.com/rpX6QzfxUU</a></div>
— WTCM (@WTCM3) <a href="https://twitter.com/WTCM3/status/1181213539798847489?ref_src=twsrc%5Etfw">October 7, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Tax Rate by Income Group #inequality</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Tax Rate by Income Group <a href="https://twitter.com/hashtag/inequality?src=hash&ref_src=twsrc%5Etfw">#inequality</a><br />
<br />
(<a href="https://twitter.com/DLeonhardt?ref_src=twsrc%5Etfw">@dleonhardt</a>)<a href="https://t.co/P5jCiyI9ZW">pic.twitter.com/P5jCiyI9ZW</a></div>
— Plan Maestro (@PlanMaestro) <a href="https://twitter.com/PlanMaestro/status/1181017657874829312?ref_src=twsrc%5Etfw">October 7, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Paper - Measuring the Moat by Michael J. Mauboussin. Thanks Tren</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
25iQ Terms of the Day: "Profit pool: the distribution of an industry’s value creation at a point in time. The horizontal axis measures size, typically invested capital or sales as a percentage of the industry, and the vertical axis measures profitability."<a href="https://t.co/ifMHQtDgKb">https://t.co/ifMHQtDgKb</a> <a href="https://t.co/VvFfNHGLRv">pic.twitter.com/VvFfNHGLRv</a></div>
— Tren Griffin (@trengriffin) <a href="https://twitter.com/trengriffin/status/1180826880120741888?ref_src=twsrc%5Etfw">October 6, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Chartstravaganza!!!</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Here’s Chartstravaganza … bringing expert charts<br />
<br />
(<a href="https://twitter.com/MartinShovel?ref_src=twsrc%5Etfw">@martinshovel</a>) <a href="https://t.co/SGcfXJNZZy">pic.twitter.com/SGcfXJNZZy</a></div>
— Plan Maestro (@PlanMaestro) <a href="https://twitter.com/PlanMaestro/status/1180822695455444993?ref_src=twsrc%5Etfw">October 6, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$PGENY Pigeon Corp Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="fr">
Pigeon Corp $7956 JT T5y stats <a href="https://t.co/jHA1d5N9A1">https://t.co/jHA1d5N9A1</a> <a href="https://t.co/u9houRPlwQ">pic.twitter.com/u9houRPlwQ</a></div>
— WTCM (@WTCM3) <a href="https://twitter.com/WTCM3/status/1180841842180530176?ref_src=twsrc%5Etfw">October 6, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Thread on $PYPL Leaving Libra $FB</u></span><br />
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<div dir="ltr" lang="en">
1/ Good thread <a href="https://twitter.com/BluegrassCap?ref_src=twsrc%5Etfw">@BluegrassCap</a>, but I disagree and think that <a href="https://twitter.com/search?q=%24PYPL&src=ctag&ref_src=twsrc%5Etfw">$PYPL</a> leaving is a blow to Libra, and deal would benefit both <a href="https://twitter.com/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw">$FB</a> and <a href="https://twitter.com/search?q=%24PYPL&src=ctag&ref_src=twsrc%5Etfw">$PYPL</a>. I think this boils down to whether Libra is properly seen as an alternative currency, an entire new way of making payments, or both ... (cont) <a href="https://t.co/Lbu0joCpKg">https://t.co/Lbu0joCpKg</a></div>
— Matthew Cochrane (@FoolMCochrane) <a href="https://twitter.com/FoolMCochrane/status/1180485853434535937?ref_src=twsrc%5Etfw">October 5, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$CLX Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24CLX&src=ctag&ref_src=twsrc%5Etfw">$CLX</a> 2019 Analyst Day presentation <a href="https://t.co/haVQ18LlK9">https://t.co/haVQ18LlK9</a> <a href="https://t.co/wdXS0xHmfw">pic.twitter.com/wdXS0xHmfw</a></div>
— WTCM (@WTCM3) <a href="https://twitter.com/WTCM3/status/1179797624960016387?ref_src=twsrc%5Etfw">October 3, 2019</a></blockquote>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiawZlsX9vpC5aY1PvEuTnsbf058u2ibuJQ4eMJBxoTlPwTZsqqjaiOD9OYo5-Mzynz6KIlM-xqqUZXy4Uur-jnsUYyTBOnJ4sQLbwws4h0YUss4_sUD9sxZ0dzsb-IKhv_u7tdMXPzb_oL/s1600/a.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="925" data-original-width="800" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiawZlsX9vpC5aY1PvEuTnsbf058u2ibuJQ4eMJBxoTlPwTZsqqjaiOD9OYo5-Mzynz6KIlM-xqqUZXy4Uur-jnsUYyTBOnJ4sQLbwws4h0YUss4_sUD9sxZ0dzsb-IKhv_u7tdMXPzb_oL/s400/a.jpg" width="345" /></a></div>
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<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-37007685728661063882019-12-07T00:16:00.000-05:002019-12-07T00:16:08.179-05:00Selected Tweets<span style="font-family: "quicksand" , sans-serif;">It's time for some tweets.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">Thanks for reading.</span><br />
<br />
<blockquote class="tr_bq">
<span style="font-family: "quicksand" , sans-serif;">"The successful investor is usually an individual who is inherently interested in business problems." </span><span style="font-family: "quicksand" , sans-serif;">Philip Arthur Fisher</span></blockquote>
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<blockquote class="tr_bq">
<span style="font-family: "quicksand" , sans-serif;">"</span><span style="font-family: "quicksand" , sans-serif;">Real investors should never feel bearish because the time to buy value is when markets go down!" </span><span style="font-family: "quicksand" , sans-serif;">Irving Kahn</span></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Matthew Cochrane Portfolio - Added to $BABA, $GH, $PAYC, $MELI, GPN</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
End of Nov top holdings:<br />
AMZN 8.2% of portfolio<br />
MA 7.5%<br />
SWKS 7.3%<br />
GOOGL 7.0%<br />
FB 6.8%<br />
PYPL 6.4%<br />
DIS 6.0%<br />
MSFT 5.4%<br />
SQ 3.7%<br />
GPN 3.5%<br />
HD 3.3%<br />
PAYC 3.2%<br />
SHOP 2.6%<br />
VZ 2.5%<br />
HAS 2.3%<br />
JPM 2.2%<br />
EA 2.2%<br />
GLW 2.2%<br />
BABA 2.1%<br />
ADBE 1.9%<br />
MDB 1.8%<br />
MELI 1.8%<br />
AAXN 1.5%<br />
KMI 1.4%<br />
MCO 1.4% <a href="https://t.co/Ei0TPwt85t">https://t.co/Ei0TPwt85t</a></div>
— Matthew Cochrane (@FoolMCochrane) <a href="https://twitter.com/FoolMCochrane/status/1200830051387936770?ref_src=twsrc%5Etfw">November 30, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
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<u style="color: red; font-family: quicksand, sans-serif; font-size: x-large;">$SMAR Thread</u><br />
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<div dir="ltr" lang="en">
"And then if you look at our Fortune 100 customers, and we have over 90% of the Fortune 100, their dollar-based net retention rate was 159%." <a href="https://twitter.com/search?q=%24SMAR&src=ctag&ref_src=twsrc%5Etfw">$SMAR</a> <a href="https://t.co/pduavSUxE1">pic.twitter.com/pduavSUxE1</a></div>
— Uncovering Value (@stockthoughts81) <a href="https://twitter.com/stockthoughts81/status/1180232597177192449?ref_src=twsrc%5Etfw">October 4, 2019</a></blockquote>
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Funny - WeWork Parody</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
THREAD: The rise and fall of WeWork. Told through a series of GIFs from The Office. <br />
<br />
Starring Michael Scott as Adam Neumann.</div>
— Ramp Capital (@RampCapitalLLC) <a href="https://twitter.com/RampCapitalLLC/status/1180168401953722373?ref_src=twsrc%5Etfw">October 4, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>What made different working at Stripe Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
I recently left Stripe after 4.5 formative and magical years. Some reflections on what made working at Stripe feel different than working other places:<br />
1/Turpentine<br />
2/Writing<br />
3/Meticulousness<br />
4/Principled decision-making<br />
5/Ambition<br />
6/Talking up<br />
7/The API metaphor</div>
— Brie Wolfson (@zebriez) <a href="https://twitter.com/zebriez/status/1180171989979258880?ref_src=twsrc%5Etfw">October 4, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Tech stocks to follow</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Tech stocks I follow ranked by sales grow % over past 5 years:<a href="https://twitter.com/search?q=%24SHOP&src=ctag&ref_src=twsrc%5Etfw">$SHOP</a> - 85%<a href="https://twitter.com/search?q=%24TDOC&src=ctag&ref_src=twsrc%5Etfw">$TDOC</a> - 84%<a href="https://twitter.com/search?q=%24TWLO&src=ctag&ref_src=twsrc%5Etfw">$TWLO</a> - 67%<a href="https://twitter.com/search?q=%24ZEN&src=ctag&ref_src=twsrc%5Etfw">$ZEN</a> - 53%<a href="https://twitter.com/search?q=%24NEWR&src=ctag&ref_src=twsrc%5Etfw">$NEWR</a> - 50%<a href="https://twitter.com/search?q=%24GRUB&src=ctag&ref_src=twsrc%5Etfw">$GRUB</a> - 49%<a href="https://twitter.com/search?q=%24APPF&src=ctag&ref_src=twsrc%5Etfw">$APPF</a> - 48%<a href="https://twitter.com/search?q=%24BL&src=ctag&ref_src=twsrc%5Etfw">$BL</a> - 48%<a href="https://twitter.com/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw">$FB</a> - 48%<a href="https://twitter.com/search?q=%24ZG&src=ctag&ref_src=twsrc%5Etfw">$ZG</a> - 46%<a href="https://twitter.com/search?q=%24HUBS&src=ctag&ref_src=twsrc%5Etfw">$HUBS</a> - 46%<a href="https://twitter.com/search?q=%24TEAM&src=ctag&ref_src=twsrc%5Etfw">$TEAM</a> - 41%<a href="https://twitter.com/search?q=%24PAYC&src=ctag&ref_src=twsrc%5Etfw">$PAYC</a> - 39%<a href="https://twitter.com/search?q=%24CYBR&src=ctag&ref_src=twsrc%5Etfw">$CYBR</a> - 49%<a href="https://twitter.com/search?q=%24PANW&src=ctag&ref_src=twsrc%5Etfw">$PANW</a> - 37%</div>
— Brian Feroldi (@BrianFeroldi) <a href="https://twitter.com/BrianFeroldi/status/1200917187038523394?ref_src=twsrc%5Etfw">November 30, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
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<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Brian Stoffel Portfolio</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
My December <a href="https://twitter.com/hashtag/SkinInTheGame?src=hash&ref_src=twsrc%5Etfw">#SkinInTheGame</a> update.<br />
<br />
Pic below shows size-weighted returns ~tripling market<br />
<br />
Top 10<br />
<br />
1) <a href="https://twitter.com/search?q=%24AMZN&src=ctag&ref_src=twsrc%5Etfw">$AMZN</a> (17% of port)<br />
2) <a href="https://twitter.com/search?q=%24GOOGL&src=ctag&ref_src=twsrc%5Etfw">$GOOGL</a> 10%<br />
3) <a href="https://twitter.com/search?q=%24SHOP&src=ctag&ref_src=twsrc%5Etfw">$SHOP</a> 10%<br />
4) <a href="https://twitter.com/search?q=%24AAXN&src=ctag&ref_src=twsrc%5Etfw">$AAXN</a> 8%<br />
5) <a href="https://twitter.com/search?q=%24MELI&src=ctag&ref_src=twsrc%5Etfw">$MELI</a> 8%<br />
6) Cash 8%<br />
7) <a href="https://twitter.com/search?q=%24VEEV&src=ctag&ref_src=twsrc%5Etfw">$VEEV</a> 6%<br />
8) <a href="https://twitter.com/search?q=%24MDB&src=ctag&ref_src=twsrc%5Etfw">$MDB</a> 5%<br />
9) <a href="https://twitter.com/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw">$FB</a> 4%<br />
10) <a href="https://twitter.com/search?q=%24ISRG&src=ctag&ref_src=twsrc%5Etfw">$ISRG</a> 4% <a href="https://t.co/17u7OlT2FQ">pic.twitter.com/17u7OlT2FQ</a></div>
— Brian Stoffel (@TMFStoffel) <a href="https://twitter.com/TMFStoffel/status/1201536725169909760?ref_src=twsrc%5Etfw">December 2, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Great Thread on Quality & Contrarianism</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Spend more time on differences in operating model (or business model) and nuanced patterns associated with high returns (example small % of customer costs but mission critical) vs general 'moats', ie spend more time on the actual operating intricacies</div>
— eric boroian (@eboroian) <a href="https://twitter.com/eboroian/status/1180095904621182976?ref_src=twsrc%5Etfw">October 4, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$INTU Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="in">
Intuit <a href="https://twitter.com/search?q=%24INTU&src=ctag&ref_src=twsrc%5Etfw">$INTU</a> 2019 Investor Day slides <a href="https://t.co/JXvAWt7NRN">https://t.co/JXvAWt7NRN</a> <a href="https://t.co/xQ3yhCYnte">pic.twitter.com/xQ3yhCYnte</a></div>
— WTCM (@WTCM3) <a href="https://twitter.com/WTCM3/status/1179799192086159361?ref_src=twsrc%5Etfw">October 3, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$COST Busienss Model Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1/ This is the key. The company keeps gross margins as low as possible. <br />
<br />
We'll cover the second part of the highlighted section a little bit later. <a href="https://t.co/wK1FisVeyT">pic.twitter.com/wK1FisVeyT</a></div>
— Ryan Reeves (@investing_city) <a href="https://twitter.com/investing_city/status/1179974263257780224?ref_src=twsrc%5Etfw">October 4, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$MA and $V Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Serious question: why does everyone think that <a href="https://twitter.com/search?q=%24MA&src=ctag&ref_src=twsrc%5Etfw">$MA</a> & <a href="https://twitter.com/search?q=%24V&src=ctag&ref_src=twsrc%5Etfw">$V</a> moats are so impenetrable. I fully understand why they have been good businesses in the past, but I'm not sure why that should remain the case in the future. Here are some of my concerns:</div>
— Brian McCann (@Bootstrap68) <a href="https://twitter.com/Bootstrap68/status/1159894112276844544?ref_src=twsrc%5Etfw">August 9, 2019</a></blockquote>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEietgajNyK_cNrU6SYAGXkMMyODylGc3E6KfumK9ruie2x5s6cyOSHnfRMs4ql0ZusLP2R6WR0NCLuCqZJWYNZ6-lsqEDbeoGgZlZrKowYddZyW7rrJMuKSu_YELgMhHuKkPYcFjVmLgUUc/s1600/a.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="311" data-original-width="1000" height="123" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEietgajNyK_cNrU6SYAGXkMMyODylGc3E6KfumK9ruie2x5s6cyOSHnfRMs4ql0ZusLP2R6WR0NCLuCqZJWYNZ6-lsqEDbeoGgZlZrKowYddZyW7rrJMuKSu_YELgMhHuKkPYcFjVmLgUUc/s400/a.gif" width="400" /></a></div>
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<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-83150545948959550172019-11-30T08:55:00.002-05:002019-11-30T08:55:57.809-05:00Selected Tweets<span style="font-family: "quicksand" , sans-serif;">It's time for some tweets.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">Thanks for reading.</span><br />
<br />
<blockquote class="tr_bq">
<span style="font-family: "quicksand" , sans-serif;">"If you tell the truth, you don’t have to remember your lies." Charlie Munger</span></blockquote>
<br />
<blockquote class="tr_bq">
<span style="font-family: "quicksand" , sans-serif;">"Remember that reputation and integrity are your most valuable assets and can be lost in a heartbeat." Charlie Munger</span></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$EAF Thread</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Spent some time the last 2 days researching Pabrai’s latest pick <a href="https://twitter.com/search?q=%24EAF&src=ctag&ref_src=twsrc%5Etfw">$EAF</a>. I totally understand why he likes it. 2-3 years of fixed contracts sets up predictable cash flow. This almost guarantees they will have the cash to reduce their substantial debt</div>
— Brian McCann (@Bootstrap68) <a href="https://twitter.com/Bootstrap68/status/1175254934125572096?ref_src=twsrc%5Etfw">September 21, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Thread and discussion on Recession.</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Length and severity of recession is inversely correlated to the real (inflation adjusted) 10-Year UST yield at the time of the yield curve inversion.<br />
<br />
Lower the real yield; worse the recession.<br />
<br />
If history repeats, the coming downturn will be the worst!<a href="https://twitter.com/hashtag/recession?src=hash&ref_src=twsrc%5Etfw">#recession</a> <a href="https://t.co/KgvwIKgN1q">pic.twitter.com/KgvwIKgN1q</a></div>
— Puru Saxena (@saxena_puru) <a href="https://twitter.com/saxena_puru/status/1179748807799537664?ref_src=twsrc%5Etfw">October 3, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>On the $APO and $ATH relationship. Good article.</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
good FT October 2018 Big Read on the Apollo <a href="https://twitter.com/search?q=%24APO&src=ctag&ref_src=twsrc%5Etfw">$APO</a> / Athene <a href="https://twitter.com/search?q=%24ATH&src=ctag&ref_src=twsrc%5Etfw">$ATH</a> relationship: "Even its critics concede that from the standpoint of its creators, Athene has been perhaps the greatest investment strategy of the past decade" <a href="https://t.co/aDvmy0umpc">https://t.co/aDvmy0umpc</a> <a href="https://t.co/XWzpCBTQU8">pic.twitter.com/XWzpCBTQU8</a></div>
— WTCM (@WTCM3) <a href="https://twitter.com/WTCM3/status/1142100438730334208?ref_src=twsrc%5Etfw">June 21, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Some good charts on Housing, Rocks, Flooring, Autos and more. Check it out.</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Almost a year ago, the market was clearly saying the Fed had made a policy error and we were heading into recession (nevertheless they persisted thru Dec!). I posted charts of relevant sectors in total freefall. One year later, housing/rocks = all clear. Autos/flooring = so so. <a href="https://t.co/PKkFgQmESM">https://t.co/PKkFgQmESM</a></div>
— modest proposal (@modestproposal1) <a href="https://twitter.com/modestproposal1/status/1179442732609064960?ref_src=twsrc%5Etfw">October 2, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$WWE Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24WWE&src=ctag&ref_src=twsrc%5Etfw">$WWE</a>: In 1995, Ted Turner asked World Championship Wrestling VP Eric Bischoff how WCW could compete with WWF. Bischoff, not expecting Turner to comply, said that the only way would be a prime-time slot directly against WWF; Turner agreed and the Monday Night Wars began.</div>
— Hardcore Value (@HardcoreValue) <a href="https://twitter.com/HardcoreValue/status/1179455314556592131?ref_src=twsrc%5Etfw">October 2, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Puru Saxena Portfolio - New Positions $LK and $LVGO</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Portfolio summary - Nov-end<a href="https://twitter.com/search?q=%24ACB&src=ctag&ref_src=twsrc%5Etfw">$ACB</a> <a href="https://twitter.com/search?q=%24AMZN&src=ctag&ref_src=twsrc%5Etfw">$AMZN</a> <a href="https://twitter.com/search?q=%24BABA&src=ctag&ref_src=twsrc%5Etfw">$BABA</a> <a href="https://twitter.com/search?q=%24BZUN&src=ctag&ref_src=twsrc%5Etfw">$BZUN</a> <a href="https://twitter.com/search?q=%24CGC&src=ctag&ref_src=twsrc%5Etfw">$CGC</a> <a href="https://twitter.com/search?q=%24DOCU&src=ctag&ref_src=twsrc%5Etfw">$DOCU</a> <a href="https://twitter.com/search?q=%24ESTC&src=ctag&ref_src=twsrc%5Etfw">$ESTC</a> <a href="https://twitter.com/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw">$FB</a> <a href="https://twitter.com/search?q=%24GOOGL&src=ctag&ref_src=twsrc%5Etfw">$GOOGL</a> <a href="https://twitter.com/search?q=%24HDB&src=ctag&ref_src=twsrc%5Etfw">$HDB</a> <a href="https://twitter.com/search?q=%24LK&src=ctag&ref_src=twsrc%5Etfw">$LK</a> <a href="https://twitter.com/search?q=%24LVGO&src=ctag&ref_src=twsrc%5Etfw">$LVGO</a> <a href="https://twitter.com/search?q=%24MELI&src=ctag&ref_src=twsrc%5Etfw">$MELI</a> <a href="https://twitter.com/search?q=%24PINS&src=ctag&ref_src=twsrc%5Etfw">$PINS</a> <a href="https://twitter.com/search?q=%24PYPL&src=ctag&ref_src=twsrc%5Etfw">$PYPL</a> <a href="https://twitter.com/search?q=%24ROKU&src=ctag&ref_src=twsrc%5Etfw">$ROKU</a> <a href="https://twitter.com/search?q=%24SE&src=ctag&ref_src=twsrc%5Etfw">$SE</a> <a href="https://twitter.com/search?q=%24SPCE&src=ctag&ref_src=twsrc%5Etfw">$SPCE</a> <a href="https://twitter.com/search?q=%24SQ&src=ctag&ref_src=twsrc%5Etfw">$SQ</a> <a href="https://twitter.com/search?q=%24STNE&src=ctag&ref_src=twsrc%5Etfw">$STNE</a> <a href="https://twitter.com/search?q=%24TAL&src=ctag&ref_src=twsrc%5Etfw">$TAL</a> <a href="https://twitter.com/search?q=%24TCEHY&src=ctag&ref_src=twsrc%5Etfw">$TCEHY</a> <a href="https://twitter.com/search?q=%24WORK&src=ctag&ref_src=twsrc%5Etfw">$WORK</a> <a href="https://twitter.com/search?q=%24ZS&src=ctag&ref_src=twsrc%5Etfw">$ZS</a> <br />
<br />
No hedges in place.<br />
<br />
YTD performance - <br />
<br />
Portfolio +12% , <a href="https://twitter.com/search?q=%24ACWI&src=ctag&ref_src=twsrc%5Etfw">$ACWI</a> +25% , <a href="https://twitter.com/search?q=%24SPX&src=ctag&ref_src=twsrc%5Etfw">$SPX</a> +22%<br />
<br />
contd... <a href="https://t.co/2qeUYAS5SK">pic.twitter.com/2qeUYAS5SK</a></div>
— Puru Saxena (@saxena_puru) <a href="https://twitter.com/saxena_puru/status/1200607277826199554?ref_src=twsrc%5Etfw">November 30, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$IEX Thread</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
latest IDEX <a href="https://twitter.com/search?q=%24IEX&src=ctag&ref_src=twsrc%5Etfw">$IEX</a> investor presentation; fascinating business + history <a href="https://t.co/S4YNdX8S0I">https://t.co/S4YNdX8S0I</a> <a href="https://t.co/z26IPNw8JV">pic.twitter.com/z26IPNw8JV</a></div>
— WTCM (@WTCM3) <a href="https://twitter.com/WTCM3/status/1149013506378870784?ref_src=twsrc%5Etfw">July 10, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$TTD Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Here's why I think Trade Desk can 5x it's revenue - an estimate of TAM and <a href="https://twitter.com/search?q=%24TTD&src=ctag&ref_src=twsrc%5Etfw">$TTD</a> revenue by breaking out TV vs non TV ad spends<a href="https://t.co/2mn6w4c9i0">https://t.co/2mn6w4c9i0</a></div>
— mspacey (@mspacey4415) <a href="https://twitter.com/mspacey4415/status/1179048765929312256?ref_src=twsrc%5Etfw">October 1, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$MKC Thread</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24MKC&src=ctag&ref_src=twsrc%5Etfw">$MKC</a> continues to prioritize debt paydown with cash flow; leverage to 3.7x at end of F3Q19 <a href="https://t.co/bFqbB94eo5">https://t.co/bFqbB94eo5</a> <a href="https://t.co/M9amn8ZXuv">pic.twitter.com/M9amn8ZXuv</a></div>
— WTCM (@WTCM3) <a href="https://twitter.com/WTCM3/status/1179008759600947200?ref_src=twsrc%5Etfw">October 1, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$SINA Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Thread on <a href="https://twitter.com/search?q=%24SINA&src=ctag&ref_src=twsrc%5Etfw">$SINA</a> 1/<a href="https://twitter.com/search?q=%24SINA&src=ctag&ref_src=twsrc%5Etfw">$SINA</a> is involved in two areas to put it simply:<br />
<br />
1) news, sports, entertainment, fashion, travel and realestate browsing and news sites under the Sina brand e.g. Sina business<br />
<br />
2) They own over 45% of <a href="https://twitter.com/search?q=%24WB&src=ctag&ref_src=twsrc%5Etfw">$WB</a>, the <a href="https://twitter.com/search?q=%24TWTR&src=ctag&ref_src=twsrc%5Etfw">$TWTR</a>/ <a href="https://twitter.com/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw">$FB</a> of <a href="https://twitter.com/hashtag/China?src=hash&ref_src=twsrc%5Etfw">#China</a> ...</div>
— BottomUp Capital ➚➚ (@BottomUpCapital) <a href="https://twitter.com/BottomUpCapital/status/1149240353666428929?ref_src=twsrc%5Etfw">July 11, 2019</a></blockquote>
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOq_kHMEZFvXfi61s0O8qk2PFZxve3YwHqT3VtfkEZl6m6NLbbuHKIxgIWKkEhguw2BNi9DQ7Mi9qwIt2U40SFesHxk-5YwQ9Fl3vYKr24Lppcu7sTHq1NsHuBSbbXpyGJIEOS-gTkKLTQ/s1600/a.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="280" data-original-width="900" height="123" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOq_kHMEZFvXfi61s0O8qk2PFZxve3YwHqT3VtfkEZl6m6NLbbuHKIxgIWKkEhguw2BNi9DQ7Mi9qwIt2U40SFesHxk-5YwQ9Fl3vYKr24Lppcu7sTHq1NsHuBSbbXpyGJIEOS-gTkKLTQ/s400/a.jpg" width="400" /></a></div>
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<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-90170493729918975012019-11-23T22:44:00.001-05:002019-11-23T22:44:21.390-05:00Selected Tweets<span style="font-family: "quicksand" , sans-serif;">It's time for some tweets.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>.</span><br />
<br />
<span style="font-family: "quicksand" , sans-serif;">Thanks for reading.</span><br />
<br />
<blockquote class="tr_bq">
<span style="font-family: "quicksand" , sans-serif;">"The way to get started is to quit talking and begin doing." Walt Disney</span></blockquote>
<br />
<blockquote class="tr_bq">
<span style="font-family: "quicksand" , sans-serif;">"If you really want to do something, you'll find a way. If you don't, you'll find an excuse." Jim Rohn</span></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$MSFT Teams vs $WORK Slack Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1/ Challenge accepted. I have followed <a href="https://twitter.com/search?q=%24MSFT&src=ctag&ref_src=twsrc%5Etfw">$MSFT</a> for over a decade. It's as well run now as anytime I have seen it.<br />
<br />
Slack is a wonderful idea for a simple product that is ideal for certain types of work and has taken off in the tech world where new tools are often quickly adopted. <a href="https://t.co/nvFJF1mzTy">https://t.co/nvFJF1mzTy</a></div>
— HS (@Negative_GW) <a href="https://twitter.com/Negative_GW/status/1177995739475013632?ref_src=twsrc%5Etfw">September 28, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Chartstravaganza </u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Here’s Chartstravaganza … bringing excellent charts to your phone <a href="https://t.co/5gnwQ26HJN">pic.twitter.com/5gnwQ26HJN</a></div>
— Plan Maestro (@PlanMaestro) <a href="https://twitter.com/PlanMaestro/status/1178310139230785537?ref_src=twsrc%5Etfw">September 29, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$JPM Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
I've said it before, I'll say it again: Don't discount all of the big banks in the fintech arena. JPMorgan has a large way chest in particular it is using to invest in tech. Long <a href="https://twitter.com/search?q=%24JPM&src=ctag&ref_src=twsrc%5Etfw">$JPM</a> <a href="https://t.co/Gvd2ru7ODs">https://t.co/Gvd2ru7ODs</a></div>
— Matthew Cochrane (@FoolMCochrane) <a href="https://twitter.com/FoolMCochrane/status/1177367644174999559?ref_src=twsrc%5Etfw">September 26, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$GNC Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Flipping through <a href="https://twitter.com/search?q=%24GNC&src=ctag&ref_src=twsrc%5Etfw">$GNC</a>'s 10-K today and kind of shocked by their SSS trends. Way better than I thought going in; I would have guessed they were comping down 10% YoY every quarter. <a href="https://t.co/rsEUrlFw3T">pic.twitter.com/rsEUrlFw3T</a></div>
— Andrew Walker (@AndrewRangeley) <a href="https://twitter.com/AndrewRangeley/status/1177308035590623234?ref_src=twsrc%5Etfw">September 26, 2019</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script> <br />
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$FDS Thread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
FDS reinvesting some recent margin expansion back into product, mgmt says will result in higher organic growth in 2-3 yrs, near term compresses margins, results in flat earnings growth next year... <a href="https://t.co/Cv5tYMhVYx">pic.twitter.com/Cv5tYMhVYx</a></div>
— Bluegrass Capital (@BluegrassCap) <a href="https://twitter.com/BluegrassCap/status/1177278040403075078?ref_src=twsrc%5Etfw">September 26, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$BAM Brookfield Asset Management Thread</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
<a href="https://twitter.com/search?q=%24BAM&src=ctag&ref_src=twsrc%5Etfw">$BAM</a> key takeaways<br />
1) Interest rates are in a new phase (-2 to +2%)<br />
2) Alternative investments are going to 60% for institutions<br />
3) The next series of funds is going to be hundreds of billions of dollars<br />
4) We purchased Oaktree to provide scale and prepare for a downturn</div>
— Hardcore Value (@HardcoreValue) <a href="https://twitter.com/HardcoreValue/status/1177232043937341447?ref_src=twsrc%5Etfw">September 26, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>On Pershing Square $PSHZF</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
I posted the first in a series of more-frequent blog posts about names I'm looking at. <br />
<br />
These won't be investment theses. They may be quite short. <br />
<br />
The first one is kinda long and is on Pershing Square Holdings <a href="https://twitter.com/search?q=%24PSH&src=ctag&ref_src=twsrc%5Etfw">$PSH</a>.<a href="https://t.co/hQ3T1U9zvI">https://t.co/hQ3T1U9zvI</a></div>
— Evan Tindell (@evantindell) <a href="https://twitter.com/evantindell/status/1176884037241249794?ref_src=twsrc%5Etfw">September 25, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>How much information is enough to make an investment decision?</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1/ This is how I think of it: I'm a big fan of the Pareto principle, essentially that 80% of what we need to know as investors comes from the first 20% of the work/research we do. If I like what I see after that first 20%, I have no problem taking a small, starter position (cont)</div>
— Matthew Cochrane (@FoolMCochrane) <a href="https://twitter.com/FoolMCochrane/status/1177199359731085312?ref_src=twsrc%5Etfw">September 26, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>$SNEThread</u></span><br />
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<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Sony Music head transcript from Communacopia last week <a href="https://t.co/C36Bu2iHJZ">https://t.co/C36Bu2iHJZ</a></div>
— Bluegrass Capital (@BluegrassCap) <a href="https://twitter.com/BluegrassCap/status/1177617974599016448?ref_src=twsrc%5Etfw">September 27, 2019</a></blockquote>
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<hr />
<span style="color: red; font-family: "quicksand" , sans-serif; font-size: large;"><u>Some interesting small cap names below</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
best small cap long idea atm?</div>
— Prolific Web Surfer 🏄♂️ (@web_prolific) <a href="https://twitter.com/web_prolific/status/1178083760417337344?ref_src=twsrc%5Etfw">September 28, 2019</a></blockquote>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJdgfUz3KoEq0RkYoYQm2pQiYIDXFOHZJJ0y0s0N45uhZUiUVtsyuQURAFwnt2KriVIhCtCKYskO4Yf3sglpVJLk8VdcCPFfrWm-etvOpRSw07_YOBDmt1lciKgGlzazPVv1PxQQDI5pzL/s1600/a.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="281" data-original-width="900" height="123" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJdgfUz3KoEq0RkYoYQm2pQiYIDXFOHZJJ0y0s0N45uhZUiUVtsyuQURAFwnt2KriVIhCtCKYskO4Yf3sglpVJLk8VdcCPFfrWm-etvOpRSw07_YOBDmt1lciKgGlzazPVv1PxQQDI5pzL/s400/a.gif" width="400" /></a></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-4663506964081290782019-11-20T07:53:00.000-05:002019-11-20T07:53:27.101-05:00Selected Tweets<span style="font-family: "candara" , serif;">It's time for some tweets.</span><br />
<br />
<span style="font-family: "candara" , serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>.</span><br />
<br />
<span style="font-family: "candara" , serif;">Thanks for reading.</span><br />
<br />
<blockquote class="tr_bq">
<span style="font-family: "candara" , serif;">"Any fool can criticize, condemn, and complain -- and most fools do." Dale Carnegie</span></blockquote>
<br />
<blockquote class="tr_bq">
<span style="font-family: "candara" , serif;">"One of the most tragic things I know about human nature is that all of us tend to put off living. We are all dreaming of some magical rose garden over the horizon instead of enjoying the roses that are blooming outside our windows today." Dale Carnegie</span></blockquote>
<br />
<br />
<hr />
<span style="color: red; font-family: "garamond" , serif; font-size: large;"><u>e-commerce Google interest $SHOP, $WIX, $ADBE</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Shopify is the only major ecommerce platform that has consistently grown its Google interest worldwide over the past five years. <a href="https://twitter.com/search?q=%24SHOP&src=ctag&ref_src=twsrc%5Etfw">$SHOP</a> <a href="https://twitter.com/search?q=%24WIX&src=ctag&ref_src=twsrc%5Etfw">$WIX</a> <a href="https://twitter.com/search?q=%24ADBE&src=ctag&ref_src=twsrc%5Etfw">$ADBE</a> <a href="https://t.co/tQgj1QQHBX">pic.twitter.com/tQgj1QQHBX</a></div>
— Travis Wiedower (@TravisWiedower) <a href="https://twitter.com/TravisWiedower/status/1173945153985400832?ref_src=twsrc%5Etfw">September 17, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "garamond" , serif; font-size: large;"><u>$SFIX Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
I guess most are kind of familiar with the company. for those who aren't, here is an excellent thread on the company from <a href="https://twitter.com/svafier?ref_src=twsrc%5Etfw">@svafier</a><a href="https://t.co/1Gi8CKAyqr">https://t.co/1Gi8CKAyqr</a></div>
— Emilgold (@emilio_gold) <a href="https://twitter.com/emilio_gold/status/1176946239990095872?ref_src=twsrc%5Etfw">September 25, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "garamond" , serif; font-size: large;"><u>$PTON Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
One more <a href="https://twitter.com/search?q=%24PTON&src=ctag&ref_src=twsrc%5Etfw">$PTON</a>: interesting a company that's been around for ~7 years is projecting CLTV of ~7.5 years <br />
<br />
Totally possible that's right! But seems kind of aggressive as most of their subs are new; will be interesting how churn looks in ~3 years as bike depreciates / sub base ages <a href="https://t.co/Pb91sbKHzv">pic.twitter.com/Pb91sbKHzv</a></div>
— Andrew Walker (@AndrewRangeley) <a href="https://twitter.com/AndrewRangeley/status/1176940512844156936?ref_src=twsrc%5Etfw">September 25, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "garamond" , serif; font-size: large;"><u>$NTDOY Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
I've got mad respect for sell side analysts that are also active on Twitter. <a href="https://twitter.com/agoyal000?ref_src=twsrc%5Etfw">@agoyal000</a> is a great analyst at Jefferies and covers Nintendo. I'll highlight some of his research. <a href="https://twitter.com/search?q=%24NTDOY&src=ctag&ref_src=twsrc%5Etfw">$NTDOY</a></div>
— Hardcore Value (@HardcoreValue) <a href="https://twitter.com/HardcoreValue/status/1176848073546485760?ref_src=twsrc%5Etfw">September 25, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "garamond" , serif; font-size: large;"><u>$SDC Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Thread on SmileDirectClub <a href="https://twitter.com/search?q=%24SDC&src=ctag&ref_src=twsrc%5Etfw">$SDC</a>. This guy is biased, although this does not necessarily mean he is wrong <a href="https://t.co/yAPlholj4W">https://t.co/yAPlholj4W</a></div>
— CT Capital (@CrowdedTradeCap) <a href="https://twitter.com/CrowdedTradeCap/status/1174980984527187968?ref_src=twsrc%5Etfw">September 20, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "garamond" , serif; font-size: large;"><u>Visualization of exchange consolidation $CME, $NDAQ, $ICE, $LNSTY, $EUXTF</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
great visualization of exchange consolidation over time (cc: <a href="https://twitter.com/search?q=%24CME&src=ctag&ref_src=twsrc%5Etfw">$CME</a>, <a href="https://twitter.com/search?q=%24NDAQ&src=ctag&ref_src=twsrc%5Etfw">$NDAQ</a>, <a href="https://twitter.com/search?q=%24ICE&src=ctag&ref_src=twsrc%5Etfw">$ICE</a>, <a href="https://twitter.com/search?q=%24LSE&src=ctag&ref_src=twsrc%5Etfw">$LSE</a> LN, <a href="https://twitter.com/search?q=%24ENX&src=ctag&ref_src=twsrc%5Etfw">$ENX</a> FP, $388 HK, $DB1 GY) <a href="https://t.co/7OjdotOt0p">https://t.co/7OjdotOt0p</a> <a href="https://t.co/h9e0zuu3VN">pic.twitter.com/h9e0zuu3VN</a></div>
— WTCM (@WTCM3) <a href="https://twitter.com/WTCM3/status/1175587331656626176?ref_src=twsrc%5Etfw">September 22, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "garamond" , serif; font-size: large;"><u>Skills > Knowledge … thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Skills > Knowledge … thread<a href="https://t.co/B4cgropBR0">https://t.co/B4cgropBR0</a></div>
— Plan Maestro (@PlanMaestro) <a href="https://twitter.com/PlanMaestro/status/1175842677889409026?ref_src=twsrc%5Etfw">September 22, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "garamond" , serif; font-size: large;"><u>How a credit card works</u></span><br />
<br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Confession: I'm a nerd. Spent the whole morning learning about how a credit card works. Surprisingly, it's incredibly complicated. Here's what I've learned.</div>
— Ryan Reeves (@investing_city) <a href="https://twitter.com/investing_city/status/1058840239693684736?ref_src=twsrc%5Etfw">November 3, 2018</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "garamond" , serif; font-size: large;"><u>$NFLX and $SPOT Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
If I ran <a href="https://twitter.com/search?q=%24NFLX&src=ctag&ref_src=twsrc%5Etfw">$NFLX</a>, I'd partner up with <a href="https://twitter.com/search?q=%24SPOT&src=ctag&ref_src=twsrc%5Etfw">$SPOT</a>. <br />
Make a discounted bundle for both.<br />
Would help them deter off Amazon & Apple. Doesn't attack respective turfs.<br />
<br />
Soft-Merging subscriber bases will increase stickiness of both and reaccelerate sub growth. Long-term win.<br />
<br />
cc: <a href="https://twitter.com/reedhastings?ref_src=twsrc%5Etfw">@reedhastings</a></div>
— sebidscap (@sebidscap) <a href="https://twitter.com/sebidscap/status/1175213461497946114?ref_src=twsrc%5Etfw">September 21, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-family: "garamond" , serif; font-size: large;"><u>Chartstravaganza</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Here’s Chartstravaganza … it won’t be good <a href="https://t.co/C7ddwhqZpz">pic.twitter.com/C7ddwhqZpz</a></div>
— Plan Maestro (@PlanMaestro) <a href="https://twitter.com/PlanMaestro/status/1175774980832989184?ref_src=twsrc%5Etfw">September 22, 2019</a></blockquote>
<br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-58204757476096554732019-11-17T08:09:00.001-05:002019-11-18T21:59:04.460-05:00Selected Tweets<span style="font-family: "georgia" , "times new roman" , serif;">It's time for some tweets.</span><br />
<span style="font-family: "georgia" , "times new roman" , serif;"><span style="font-family: "georgia" , "times new roman" , serif;"><br />
</span><span style="font-family: "georgia" , "times new roman" , serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>. </span></span><br />
<span style="font-family: "georgia" , "times new roman" , serif;"><span style="font-family: "georgia" , "times new roman" , serif;"><br />
</span><span style="font-family: "georgia" , "times new roman" , serif;">Thanks for reading.</span></span><br />
<br />
<blockquote class="tr_bq">
"Invest in yourself. Your career is the engine of your wealth." Paul Clitheroe</blockquote>
<br />
<blockquote class="tr_bq">
"Behind every stock is a company. Find out what it’s doing." Peter Lynch</blockquote>
<br />
<hr />
<span style="color: red; font-size: large;"><u>$XYL Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
"Given the high level of investment need, we are starting to see an increased demand for water infrastructure financing" (cc: <a href="https://twitter.com/search?q=%24XYL&src=ctag&ref_src=twsrc%5Etfw">$XYL</a>) <a href="https://t.co/ZagxYfJZV7">pic.twitter.com/ZagxYfJZV7</a></div>
— WTCM (@WTCM3) <a href="https://twitter.com/WTCM3/status/1175138347091578880?ref_src=twsrc%5Etfw">September 20, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-size: large;"><u>$EVOL Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Why small position? Because I sadly don't have boots on the ground. I feel like I can't afford to visit a company etc. Thus, I usually only hit hard where I think you can't have an advantage over me. <a href="https://twitter.com/search?q=%24EVOL&src=ctag&ref_src=twsrc%5Etfw">$EVOL</a>, I found it, - but I can't hit it hard with conviction...</div>
— sebidscap (@sebidscap) <a href="https://twitter.com/sebidscap/status/1174837000240869381?ref_src=twsrc%5Etfw">September 20, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-size: large;"><u>$ROKU Thread</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Quick [THREAD] on Roku<br />
<br />
1/ Roku is steadily increasing its share of new Smart TV shipments in the US. Look at that blue bar grow! <a href="https://t.co/dJkqwFhoJs">pic.twitter.com/dJkqwFhoJs</a></div>
— Ryan Reeves (@investing_city) <a href="https://twitter.com/investing_city/status/1174871167712120832?ref_src=twsrc%5Etfw">September 20, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-size: large;"><u>Brian Stoffel Portfolio</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
Early Nov. <a href="https://twitter.com/hashtag/SkinInTheGame?src=hash&ref_src=twsrc%5Etfw">#SkinInTheGame</a> Update for my <a href="https://twitter.com/themotleyfool?ref_src=twsrc%5Etfw">@themotleyfool</a> writing.<br />
<br />
Weighted returns for all individual investments below (about triple the market)<br />
<br />
My top 10:<br />
<br />
1) <a href="https://twitter.com/search?q=%24AMZN&src=ctag&ref_src=twsrc%5Etfw">$AMZN</a> 17%<br />
2) <a href="https://twitter.com/search?q=%24GOOG&src=ctag&ref_src=twsrc%5Etfw">$GOOG</a>/L 9%<br />
3) <a href="https://twitter.com/search?q=%24SHOP&src=ctag&ref_src=twsrc%5Etfw">$SHOP</a> 9%<br />
4) Cash 8%<br />
5) <a href="https://twitter.com/search?q=%24MELI&src=ctag&ref_src=twsrc%5Etfw">$MELI</a> 7%<br />
6) <a href="https://twitter.com/search?q=%24VEEV&src=ctag&ref_src=twsrc%5Etfw">$VEEV</a> 6%<br />
7) <a href="https://twitter.com/search?q=%24AAXN&src=ctag&ref_src=twsrc%5Etfw">$AAXN</a> 6%<br />
8) <a href="https://twitter.com/search?q=%24MDB&src=ctag&ref_src=twsrc%5Etfw">$MDB</a> 5%<br />
9) <a href="https://twitter.com/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw">$FB</a> 4%<br />
10) <a href="https://twitter.com/search?q=%24ISRG&src=ctag&ref_src=twsrc%5Etfw">$ISRG</a> 4% <a href="https://t.co/20CPYykezd">pic.twitter.com/20CPYykezd</a></div>
— Brian Stoffel (@TMFStoffel) <a href="https://twitter.com/TMFStoffel/status/1189584856499605504?ref_src=twsrc%5Etfw">October 30, 2019</a></blockquote>
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<hr />
<span style="color: red; font-size: large;"><u>Matthew Cochrane Portfolio</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
End of Oct top holdings:<br />
AMZN 8.7% of portfolio<br />
MA 7.6%<br />
GOOGL 7.2%<br />
SWKS 7.2%<br />
FB 6.9%<br />
PYPL 6.5%<br />
DIS 5.5%<br />
MSFT 5.5%<br />
HD 3.8%<br />
SQ 3.5%<br />
GPN 2.8%<br />
VZ 2.6%<br />
SHOP 2.6%<br />
PAYC 2.4%<br />
GLW 2.3%<br />
HAS 2.3%<br />
JPM 2.2%<br />
EA 2.2%<br />
ADBE 1.8%<br />
BABA 1.7%<br />
ILMN 1.7%<br />
MDB 1.7% <a href="https://t.co/z4zYE82q5O">https://t.co/z4zYE82q5O</a></div>
— Matthew Cochrane (@FoolMCochrane) <a href="https://twitter.com/FoolMCochrane/status/1190098240886185984?ref_src=twsrc%5Etfw">November 1, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-size: large;"><u>Austin Lieberman Portfolio</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
1/Oct Summary<br />
30D 2.62% vs SPX 2.46%<br />
1Y 36.30% vs SPX 19.96%<br />
Nov'14 162.54% vs SPX 65.45% <br />
<br />
after 39% drawdown 😳 <br />
<br />
Portfolio<a href="https://twitter.com/search?q=%24AYX&src=ctag&ref_src=twsrc%5Etfw">$AYX</a> 21%<a href="https://twitter.com/search?q=%24TTD&src=ctag&ref_src=twsrc%5Etfw">$TTD</a> 19%<a href="https://twitter.com/search?q=%24MDB&src=ctag&ref_src=twsrc%5Etfw">$MDB</a> 15%<a href="https://twitter.com/search?q=%24DDOG&src=ctag&ref_src=twsrc%5Etfw">$DDOG</a> 8%<a href="https://twitter.com/search?q=%24ESTC&src=ctag&ref_src=twsrc%5Etfw">$ESTC</a> 7%<a href="https://twitter.com/search?q=%24ROKU&src=ctag&ref_src=twsrc%5Etfw">$ROKU</a> 7%<a href="https://twitter.com/search?q=%24ZS&src=ctag&ref_src=twsrc%5Etfw">$ZS</a> 7%<a href="https://twitter.com/search?q=%24PLAN&src=ctag&ref_src=twsrc%5Etfw">$PLAN</a> 6%<a href="https://twitter.com/search?q=%24OKTA&src=ctag&ref_src=twsrc%5Etfw">$OKTA</a> 5%<a href="https://twitter.com/search?q=%24PD&src=ctag&ref_src=twsrc%5Etfw">$PD</a> 2.8%<a href="https://twitter.com/search?q=%24SPCE&src=ctag&ref_src=twsrc%5Etfw">$SPCE</a> 2.5%<a href="https://twitter.com/search?q=%24ZM&src=ctag&ref_src=twsrc%5Etfw">$ZM</a> 1.4%<a href="https://twitter.com/search?q=%24EXAS&src=ctag&ref_src=twsrc%5Etfw">$EXAS</a> .45%<a href="https://twitter.com/search?q=%24NBIX&src=ctag&ref_src=twsrc%5Etfw">$NBIX</a> .26%<br />
<br />
lots of lessons learned <a href="https://t.co/WaYRN1eBdD">pic.twitter.com/WaYRN1eBdD</a></div>
— Austin Lieberman (@AustinLieb) <a href="https://twitter.com/AustinLieb/status/1190206850144165890?ref_src=twsrc%5Etfw">November 1, 2019</a></blockquote>
<br />
<hr />
<span style="font-size: large;"><span style="color: red;"><u>Puru Saxena</u></span><u style="color: red;"> Portfolio</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="cs">
1) Portfolio summary - Oct-end<a href="https://twitter.com/search?q=%24AMZN&src=ctag&ref_src=twsrc%5Etfw">$AMZN</a> <a href="https://twitter.com/search?q=%24BABA&src=ctag&ref_src=twsrc%5Etfw">$BABA</a> <a href="https://twitter.com/search?q=%24BZUN&src=ctag&ref_src=twsrc%5Etfw">$BZUN</a> <a href="https://twitter.com/search?q=%24DOCU&src=ctag&ref_src=twsrc%5Etfw">$DOCU</a> <a href="https://twitter.com/search?q=%24EDU&src=ctag&ref_src=twsrc%5Etfw">$EDU</a> <a href="https://twitter.com/search?q=%24ESTC&src=ctag&ref_src=twsrc%5Etfw">$ESTC</a> <a href="https://twitter.com/search?q=%24FB&src=ctag&ref_src=twsrc%5Etfw">$FB</a> <a href="https://twitter.com/search?q=%24GOOGL&src=ctag&ref_src=twsrc%5Etfw">$GOOGL</a> <a href="https://twitter.com/search?q=%24HDB&src=ctag&ref_src=twsrc%5Etfw">$HDB</a> <a href="https://twitter.com/search?q=%24HUYA&src=ctag&ref_src=twsrc%5Etfw">$HUYA</a> <a href="https://twitter.com/search?q=%24MELI&src=ctag&ref_src=twsrc%5Etfw">$MELI</a> <a href="https://twitter.com/search?q=%24PINS&src=ctag&ref_src=twsrc%5Etfw">$PINS</a> <a href="https://twitter.com/search?q=%24PYPL&src=ctag&ref_src=twsrc%5Etfw">$PYPL</a> <a href="https://twitter.com/search?q=%24ROKU&src=ctag&ref_src=twsrc%5Etfw">$ROKU</a> <a href="https://twitter.com/search?q=%24SE&src=ctag&ref_src=twsrc%5Etfw">$SE</a> <a href="https://twitter.com/search?q=%24SPCE&src=ctag&ref_src=twsrc%5Etfw">$SPCE</a> <a href="https://twitter.com/search?q=%24SQ&src=ctag&ref_src=twsrc%5Etfw">$SQ</a> <a href="https://twitter.com/search?q=%24STNE&src=ctag&ref_src=twsrc%5Etfw">$STNE</a> <a href="https://twitter.com/search?q=%24TAL&src=ctag&ref_src=twsrc%5Etfw">$TAL</a> <a href="https://twitter.com/search?q=%24TCEHY&src=ctag&ref_src=twsrc%5Etfw">$TCEHY</a> <a href="https://twitter.com/search?q=%24TWLO&src=ctag&ref_src=twsrc%5Etfw">$TWLO</a> <a href="https://twitter.com/search?q=%24WORK&src=ctag&ref_src=twsrc%5Etfw">$WORK</a> <a href="https://twitter.com/search?q=%24ZS&src=ctag&ref_src=twsrc%5Etfw">$ZS</a> <a href="https://twitter.com/hashtag/NQ_F?src=hash&ref_src=twsrc%5Etfw">#NQ_F</a><br />
<br />
No hedges in place.<br />
<br />
YTD performance -<br />
<br />
Portfolio +4%<a href="https://twitter.com/search?q=%24ACWI&src=ctag&ref_src=twsrc%5Etfw">$ACWI</a> +20%<a href="https://twitter.com/search?q=%24SPX&src=ctag&ref_src=twsrc%5Etfw">$SPX</a> +21%<br />
<br />
contd... <a href="https://t.co/DISnZsPGXC">pic.twitter.com/DISnZsPGXC</a></div>
— Puru Saxena (@saxena_puru) <a href="https://twitter.com/saxena_puru/status/1190092221749460992?ref_src=twsrc%5Etfw">November 1, 2019</a></blockquote>
<br />
<hr />
<span style="font-size: large;"><span style="color: red; font-size: x-small;"><u>Dhaval Kotecha </u></span><u style="color: red;">Portfolio</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="en">
My top 10 holdings make up 56% of my portfolio as of October 2019<a href="https://twitter.com/search?q=%24AMZN&src=ctag&ref_src=twsrc%5Etfw">$AMZN</a> - 12%<a href="https://twitter.com/search?q=%24NVDA&src=ctag&ref_src=twsrc%5Etfw">$NVDA</a> - 10%<a href="https://twitter.com/search?q=%24TTD&src=ctag&ref_src=twsrc%5Etfw">$TTD</a> - 6%<a href="https://twitter.com/search?q=%24AAPL&src=ctag&ref_src=twsrc%5Etfw">$AAPL</a> - 6%<a href="https://twitter.com/search?q=%24MA&src=ctag&ref_src=twsrc%5Etfw">$MA</a> - 4%<a href="https://twitter.com/search?q=%24V&src=ctag&ref_src=twsrc%5Etfw">$V</a> - 4%<a href="https://twitter.com/search?q=%24GOOG&src=ctag&ref_src=twsrc%5Etfw">$GOOG</a> - 4%<a href="https://twitter.com/search?q=%24TWLO&src=ctag&ref_src=twsrc%5Etfw">$TWLO</a> - 3%<a href="https://twitter.com/search?q=%24SHOP&src=ctag&ref_src=twsrc%5Etfw">$SHOP</a> - 3%<a href="https://twitter.com/search?q=%24SQ&src=ctag&ref_src=twsrc%5Etfw">$SQ</a> - 3%<br />
(%'s round down to whole number)<br />
<br />
What's your top 10? How much % does it occupy in your portfolio? <a href="https://t.co/cDuwOvGfNP">https://t.co/cDuwOvGfNP</a></div>
— Dhaval Kotecha (@dhaval_kotecha) <a href="https://twitter.com/dhaval_kotecha/status/1190266810400149504?ref_src=twsrc%5Etfw">November 1, 2019</a></blockquote>
<br />
<hr />
<span style="color: red; font-size: large;"><u>Long Short Value Portfolio</u></span><br />
<blockquote class="twitter-tweet">
<div dir="ltr" lang="de">
Update: YTD 34.8% <br />
<br />
ROKU 10.5%<br />
IAC 9.5%<br />
SBAC 8.6%<br />
PYPL 8.2%<br />
INSG 8.2%<br />
SDI 7.7%<br />
AYX 7.5%<br />
PAR 6.7%<br />
WIX 6.5%<br />
TTD 5.6%<br />
-/-/-/-/-/-/- Smaller Positions<br />
BYND + Puts -2%<br />
CVNA -2.1%<br />
CDZI -2.5%<br />
AAON -2.8%<br />
TSLA + Puts -4.9% <a href="https://t.co/qjxp8eAKGf">https://t.co/qjxp8eAKGf</a></div>
— Long Short Value (@LSValue) <a href="https://twitter.com/LSValue/status/1190634109045006341?ref_src=twsrc%5Etfw">November 2, 2019</a></blockquote>
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8511220737844688552.post-51023327709999083042019-11-13T10:49:00.000-05:002019-11-19T10:18:16.377-05:00Selected Tweets<span style="font-family: "georgia" , "times new roman" , serif;">It's time for some tweets.</span><br />
<span style="font-family: "georgia" , "times new roman" , serif;"><span style="font-family: "georgia" , "times new roman" , serif;"><br />
</span><span style="font-family: "georgia" , "times new roman" , serif;">If you want to share any tweets with me please send me email or dm on <a href="https://twitter.com/_iinvested" target="_blank">twitter</a>. </span></span><br />
<span style="font-family: "georgia" , "times new roman" , serif;"><span style="font-family: "georgia" , "times new roman" , serif;"><br />
</span><span style="font-family: "georgia" , "times new roman" , serif;">Thanks for reading.</span></span><br />
<br />
<br />
<blockquote class="tr_bq">"All progress takes place outside the comfort zone." Michael John Bobak</blockquote><br />
<blockquote class="tr_bq">"If you are not willing to risk the usual, you will have to settle for the ordinary." Jim Rohn</blockquote><br />
<br />
<hr /><span style="color: red; font-size: large;"><u>Outdoor advertising</u></span><br />
<blockquote class="twitter-tweet"><div dir="ltr" lang="en">Outdoor advertising as a channel has gained market share vs 20 years ago <a href="https://t.co/jC72RlnPud">pic.twitter.com/jC72RlnPud</a></div>— Bluegrass Capital (@BluegrassCap) <a href="https://twitter.com/BluegrassCap/status/1174808862454616064?ref_src=twsrc%5Etfw">September 19, 2019</a></blockquote><br />
<hr /><span style="color: red; font-size: large;"><u>$CNSWF \ $CSU.TO Thread</u></span><br />
<blockquote class="twitter-tweet"><div dir="ltr" lang="en">(1/10)Story on <a href="https://twitter.com/search?q=%24CSU&src=ctag&ref_src=twsrc%5Etfw">$CSU</a>.TO’s acquisition process that I saw up close. It makes me more confident in their ability to win deals:<br />
<br />
A friend owned ~40% of a VMS company with ~$1mm EBITDA growing ~MSD and mentioned that he wanted to sell. He potentially wanted to stay on afterwards.</div>— Kyler Hasson (@kylerhasson) <a href="https://twitter.com/kylerhasson/status/1174739746855124992?ref_src=twsrc%5Etfw">September 19, 2019</a></blockquote><br />
<hr /><span style="color: red; font-size: large;"><u>$SDC Thread</u></span><br />
<blockquote class="twitter-tweet"><div dir="ltr" lang="en"><a href="https://twitter.com/search?q=%24SDC&src=ctag&ref_src=twsrc%5Etfw">$SDC</a> looks tempting, high growth high gross margin, big TAM, some competitive advantages that does take time to replicate. But corp governance redflags all over.</div>— mspacey (@mspacey4415) <a href="https://twitter.com/mspacey4415/status/1174051257364832256?ref_src=twsrc%5Etfw">September 17, 2019</a></blockquote><br />
<hr /><span style="color: red; font-size: large;"><u>$MNST Thread</u></span><br />
<blockquote class="twitter-tweet"><div dir="ltr" lang="en">1/n <a href="https://twitter.com/search?q=%24MNST&src=ctag&ref_src=twsrc%5Etfw">$MNST</a> management became too conservative over the past years (thread on <a href="https://twitter.com/search?q=%24MNST&src=ctag&ref_src=twsrc%5Etfw">$MNST</a>)</div>— CT Capital (@CrowdedTradeCap) <a href="https://twitter.com/CrowdedTradeCap/status/1174235082686640128?ref_src=twsrc%5Etfw">September 18, 2019</a></blockquote><br />
<hr /><span style="color: red; font-size: large;"><u>A lot of good companies in this discussion.</u></span><br />
<blockquote class="twitter-tweet"><div dir="ltr" lang="en">What's your favorite under-followed company?<br />
<br />
My favs:<a href="https://twitter.com/search?q=%24BL&src=ctag&ref_src=twsrc%5Etfw">$BL</a><a href="https://twitter.com/search?q=%24EPAM&src=ctag&ref_src=twsrc%5Etfw">$EPAM</a><a href="https://twitter.com/search?q=%24NVCR&src=ctag&ref_src=twsrc%5Etfw">$NVCR</a><a href="https://twitter.com/search?q=%24LVGO&src=ctag&ref_src=twsrc%5Etfw">$LVGO</a><a href="https://twitter.com/search?q=%24PAYC&src=ctag&ref_src=twsrc%5Etfw">$PAYC</a><a href="https://twitter.com/search?q=%24HQY&src=ctag&ref_src=twsrc%5Etfw">$HQY</a></div>— Brian Feroldi (@BrianFeroldi) <a href="https://twitter.com/BrianFeroldi/status/1174103358451437568?ref_src=twsrc%5Etfw">September 17, 2019</a></blockquote><br />
<hr /><span style="color: red; font-size: large;"><u>Top grossing media franchises of all time $NTDOY, $DIS</u></span><br />
<blockquote class="twitter-tweet"><div dir="ltr" lang="en">Fascinating infographic: Top grossing media franchises of all time. Pokémon, Hello Kitty, Mickey Mouse, Star Wars, etc<br />
<br />
Observations:<br />
- most of the money has been made in merchandise and video games<br />
- so many Japanese brands! 5 out of the top 10<br />
- many created in the past decade <a href="https://t.co/6Munq0Upql">pic.twitter.com/6Munq0Upql</a></div>— Andrew Chen (@andrewchen) <a href="https://twitter.com/andrewchen/status/1173286743044284416?ref_src=twsrc%5Etfw">September 15, 2019</a></blockquote><br />
<hr /><span style="color: red; font-size: large;"><u>$SE Thread</u></span><br />
<blockquote class="twitter-tweet"><div dir="ltr" lang="en">The "official" answer during the secondary roadshow was "to diversify the shareholder base, and improve stock liquidity".<br />
<br />
The truth (in my view) was 1) the stock had risen 100% in three months, but nothing had changed fundamentally besides investors waking up to the story...</div>— Hayden Capital (@HaydenCapital) <a href="https://twitter.com/HaydenCapital/status/1173761480245878784?ref_src=twsrc%5Etfw">September 17, 2019</a></blockquote><br />
<hr /><span style="color: red; font-size: large;"><u>$OSTK Thread</u></span><br />
<blockquote class="twitter-tweet"><div dir="ltr" lang="en">1/ I think it is important that I update my <a href="https://twitter.com/search?q=%24OSTK&src=ctag&ref_src=twsrc%5Etfw">$OSTK</a> thesis. I believe that the company is wildly overvalued and unlikely to succeed, but I no longer believe the "digital dividend" will be smoothly handled by Wall St. so I covered over the past few days at an avg of $22.80. cont....</div>— Alpha Exposure (@alpha_exposure) <a href="https://twitter.com/alpha_exposure/status/1172506846390870017?ref_src=twsrc%5Etfw">September 13, 2019</a></blockquote><br />
<hr /><span style="color: red; font-size: large;"><u>$V Thread</u></span><br />
<blockquote class="twitter-tweet"><div dir="ltr" lang="en">not the worst outcome for <a href="https://twitter.com/search?q=%24V&src=ctag&ref_src=twsrc%5Etfw">$V</a> Europe CEO Charlotte Hogg (left BoE in March 2017) <a href="https://t.co/GE5n1SPvhY">pic.twitter.com/GE5n1SPvhY</a></div>— WTCM (@WTCM3) <a href="https://twitter.com/WTCM3/status/1173000585886388224?ref_src=twsrc%5Etfw">September 14, 2019</a></blockquote><br />
<hr /><span style="color: red; font-size: large;"><u>Chartsravaganza</u></span><br />
<blockquote class="twitter-tweet"><div dir="ltr" lang="en">Here’s Chartstravaganza … from somewhere <a href="https://t.co/veifnpNrWH">pic.twitter.com/veifnpNrWH</a></div>— Plan Maestro (@PlanMaestro) <a href="https://twitter.com/PlanMaestro/status/1173232444524261381?ref_src=twsrc%5Etfw">September 15, 2019</a></blockquote><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLW0L-OcEKKe-uh_lTPjBiCJ_GYhpgknbg6nAJwhjsgn2_S8gvyW55TfKCDjqoU90tBUDOBegG1GPd2FZEfRsgqfdj4CoiOVZIjqBp2nmYr1nK6yixHad0VS4khuHL00444L0XeVYHnW0f/s1600/a.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="777" data-original-width="800" height="387" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLW0L-OcEKKe-uh_lTPjBiCJ_GYhpgknbg6nAJwhjsgn2_S8gvyW55TfKCDjqoU90tBUDOBegG1GPd2FZEfRsgqfdj4CoiOVZIjqBp2nmYr1nK6yixHad0VS4khuHL00444L0XeVYHnW0f/s400/a.jpg" width="400" /></a></div><br />
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