Letters by company
Broadcom Inc.
8 letters discussing AVGO. Everything written about it on this site is on its ticker page.
- Vision Capital Fund Vision Capital Fund - Q2 2026 Quarterly Letter Vision Capital Fund exited Lululemon and Paycom after concluding that weakening operating fundamentals were becoming structural, while adding to selected existing holdings after price drawdowns. The fund rejects AI bottleneck trades in memory and supply-chain names, arguing that architectural innovation and new capacity can erode scarcity premiums, and favors durable platform businesses such as Tencent and Mastercard. Q2 2026 AAPL $4.9TAVGO $1.8TLULU $10B
- Distillate Capital 2026 Q2 Letter to Investors: Momentum Distillate Capital argues that AI-linked valuations have outrun free-cash-flow gains as hyperscaler spending shifts profits to semiconductor suppliers and deferred depreciation, stock compensation, off-balance-sheet financing and circular deals obscure economics. It favors systematically rebalanced, high-quality cheap stocks, citing Accenture, and plans new long/short vehicles amid extreme valuation dispersion. 2026 Q2 ACN $118BAMZN $2.7TAVGO $1.8T
- EdgePoint Wealth Management Clones – 3rd quarter, 2024 EdgePoint Global Portfolio argues that global equity funds have crowded into the same mega-cap technology holdings, creating closet-indexing and valuation risk. It favours mid-cap blend businesses, where it sees lower entry valuations and greater room for corporate growth than among the market’s largest companies. 3rd quarter, 2024 AAPL $4.9TAMZN $2.7TAVGO $1.8T
- Davenport Asset Management The Davenport Funds Quarterly Update Davenport warns that crowded AI infrastructure and semiconductor enthusiasm has displaced value-oriented shares, prompting a more risk-averse stance. Across its funds, the firm trimmed Marvell and UnitedHealth, added Constellation and Berkshire, initiated Stryker, Abbott, IFF and SoFi, and exited impaired Verra Mobility, Caesars and Casey’s. Q2 2026 ABT $173BACN $118BIFF $21B
- Horizon Kinetics 2026 New Year Letter from Our Founders Horizon Kinetics argues that private investments in exchanges, royalties and Permian infrastructure extend its long-horizon value discipline, citing TPL, MIAX, LandBridge and WaterBridge. It avoids AI-IT mega-caps while seeking beneficiaries controlling land, water and natural gas, and says continual chip replacement makes sector cash-flow forecasts internally inconsistent. 2025 ICE $86BLB $6.6BMIAX $3.1B
- Artisan Partners Artisan Global Opportunities Fund Quarterly Commentary Artisan Global Opportunities Fund added RTX, Capital One, Somnigroup, L3Harris and BAE Systems while exiting several Garden investments whose theses were not progressing. The portfolio emphasizes health care franchises, defense suppliers and AI infrastructure beneficiaries, while maintaining valuation discipline around Oracle and reducing Netflix, Snowflake and Boston Scientific. Q4 2025 ARGNF $59BBAESY $72BBSX $61B
- EdgePoint Wealth Management Dare to be different – 3rd quarter, 2025 EdgePoint Global Portfolio argues that crowded exposure to the largest technology companies and A.I. infrastructure risks repeating earlier technology booms. It favors concentrated positions in smaller, less-indexed businesses, arguing that active share and entry price matter more than mimicking benchmark leaders. 3rd quarter, 2025 AAPL $4.9TAMZN $2.7TF $48B
- Horizon Kinetics Annual Review: The Three Really Big Things Edition Horizon Kinetics argues that AI data-center expansion creates underappreciated demand for natural gas, water and strategically located Permian Basin land. It defends concentrated holdings in Texas Pacific Land, LandBridge and Bitcoin as long-duration assets positioned to benefit from resource scarcity, monetary debasement and institutional adoption. 4th Quarter 2024 TPL $24BLB $6.6BMETA $1.8T
