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Aristotle

Dec 2024 → Sep 2026 · Publishes quarterly · 23 funds

Our archive holds 73 letters from Aristotle, behind 140 investment theses and positions in 126 companies. Every quote below is copied verbatim from the letter it came from.

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73
Letters
126
Companies
85
Moves
140
Theses

23 strategies

Aristotle publishes a letter per strategy. Each one has its own page with what it holds, what it bought and what it wrote.

Returns as reported in each strategy’s latest letter, extracted automatically and not verified by us; one share class, in its own currency. Not investment advice. Past performance does not predict future returns.

What they bought and sold · 85 moves

  • ExitedOceaneering International
    September 2026
    “We exited the position after Q2 earnings beat expectations resulting in the stock’s appreciation which compressed the risk/reward profile.”
    Read the letter
  • New positionSanDisk
    September 2026
    “We initiated SanDisk as a complementary picks-and-shovels investment opportunity tied to the AI memory bottleneck, with NAND flash memory and solid-state storage now capacity-constrained inputs for AI data center expansion.”
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  • ExitedHoneywell International
    September 2026
    “We sold the position in Honeywell International.”
    Read the letter
  • AddedGE Aerospace
    September 2026
    “We sold the position in Honeywell Aerospace to consolidate our aerospace investment in GE Aerospace.”
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  • ExitedHoneywell Aerospace
    September 2026
    “We sold the position in Honeywell Aerospace to consolidate our aerospace investment in GE Aerospace.”
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  • New positionRepligen
    September 2026
    “We initiated Repligen, a global life sciences company that develops and commercializes bioprocessing technologies, systems and consumables designed to improve the efficiency, flexibility and control of biological drug manufacturing across both upstream and downstream processes.”
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  • ExitedMobility Global
    September 2026
    “We sold Mobility Global.”
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  • New positionBentley Systems
    September 2026
    “• Bentley Systems (BSY), is an infrastructure engineering software company that provides software and digital twin solutions used to design, build, and operate critical infrastructure across transportation, water, energy, and construction markets worldwide.”
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  • New positionFreshpet
    September 2026
    “• Freshpet (FRPT), is a premium pet food company that manufactures and distributes fresh, refrigerated dog and cat food through a proprietary network of branded refrigerators in retail stores across North America.”
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  • ExitedCross Country Healthcare
    September 2026
    “The position was liquidated due to increased uncertainty surrounding the pace of recovery and potential margin pressures that diminished the attractiveness of the risk/reward profile, prompting us to redeploy capital into higher conviction opportunities.”
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  • ExitedEuronet Worldwide
    September 2026
    “The position was liquidated due to increased uncertainty surrounding the pace of recovery and potential margin pressures that diminished the attractiveness of the risk/reward profile, prompting us to redeploy capital into higher conviction opportunities.”
    Read the letter
  • ExitedKnowles
    September 2026
    “We exited our position in Knowles following strong share price appreciation, which reduced the potential upside and made the risk/reward profile less compelling.”
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  • ExitedSLR Investment Corp
    September 2026
    “The position was liquidated due to deteriorating fundamentals.”
    Read the letter
  • New positionU.S. Physical Therapy
    September 2026
    “• U.S. Physical Therapy (USPH), is an operator of outpatient physical and occupational therapy clinics, providing rehabilitation services and workplace injury prevention solutions through a nationwide network of partner-led practices.”
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  • New positionCorpay
    September 2026
    “• Corpay (CPAY), is a corporate payments and expense management platform that helps businesses automate payables, manage cross-border transactions, and control vehicle related spending.”
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  • New positionWeatherford International
    September 2026
    “• Weatherford International (WFRD), is a global oilfield services and equipment provider that helps energy producers optimize drilling, well construction, production, and asset performance through a combination of engineering expertise, advanced technologies, and digital solutions.”
    Read the letter
  • ExitedEssential Utilities
    September 2026
    “We exited the position as the share price appreciated reducing the stock’s potential upside and made its risk/reward profile less compelling redeploying the capital into what we view as higher conviction opportunities.”
    Read the letter
  • ExitedOshkosh
    September 2026
    “During the quarter, we sold our positions in Assa Abloy and Oshkosh and purchased E Ink Holdings and McKesson.”
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  • ExitedAssa Abloy
    September 2026
    “During the quarter, we sold our positions in Assa Abloy and Oshkosh and purchased E Ink Holdings and McKesson.”
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  • New positionCarrier Global
    September 2026
    “During the quarter, we sold our position in Oshkosh and purchased Carrier Global.”
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  • ExitedMichelin
    September 2026
    “During the quarter, we sold our position in Michelin and invested in WEG.”
    Read the letter
  • New positionWEG S.A.
    September 2026
    “During the quarter, we sold our position in Michelin and invested in WEG.”
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  • New positionE Ink Holdings
    September 2026
    “During the quarter, we sold our position in Assa Abloy and purchased E Ink Holdings and McKesson.”
    Read the letter
  • New positionMcKesson
    September 2026
    “During the quarter, we sold our position in Assa Abloy and purchased E Ink Holdings and McKesson.”
    Read the letter
  • TrimmedMicrosoft
    September 2026

    Listed in Aristotle’s reported holdings.

    Read the letter
  • New positionKratos Defense & Security Solutions
    September 2026
    “We initiated Kratos Defense & Security Solutions, a technology-focused defense contractor that develops affordable, rapidly deployable products and platforms for government and commercial customers across satellite communications, space infrastructure, unmanned aerial systems, hypersonic technologies, rocket and propulsion systems, microwave electronics, cybersecurity, training, and command-and-control solutions.”
    Read the letter
  • ExitedNorfolk Southern
    September 2026
    “We sold the position in Norfolk Southern.”
    Read the letter
  • ExitedBio-Techne
    September 2026
    “We sold Bio-Techne following the announcement of Merck KGaA’s agreement to acquire the company for $73 per share in cash.”
    Read the letter
  • New positionTrimble
    September 2026
    “• Trimble (TRMB), is a provider of software, data, and positioning solutions that help customers across the construction, agriculture, geospatial, and transportation industries improve productivity and automate workflows.”
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  • ExitedGartner
    September 2026
    “The position was liquidated due to deteriorating fundamentals.”
    Read the letter

Showing the 30 most recent of 85 recorded moves.

Companies held · 126

Every company Aristotle has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 140

  • Rentokil Initial
    September 2026

    Rentokil Initial is a pest control and hygiene services provider with scale, route density and a recurring service model that support competitive advantages.

    Read the full thesis
  • Repligen
    September 2026

    Repligen is a leading bioprocessing supplier benefiting from an improving industry backdrop, operating leverage and favorable long-term growth prospects.

    Read the full thesis
  • Bentley Systems
    September 2026

    Bentley Systems provides infrastructure engineering software and is viewed as attractive for recurring revenue, free cash flow, customer retention, and long-term tailwinds.

    Read the full thesis
  • Guardant Health
    September 2026

    Guardant Health is growing rapidly, expanding commercial coverage for Shield, and should benefit from higher margins as product volumes scale.

    Read the full thesis
  • Adaptive Biotechnologies
    September 2026

    Adaptive Biotechnologies is benefiting from strong clonoSEQ growth, higher pricing, and a planned separation that will create a standalone MRD diagnostics company.

    Read the full thesis
  • Kratos Defense & Security Solutions
    September 2026

    Kratos Defense & Security Solutions is a technology-focused defense contractor positioned to benefit from defense modernization, strong bookings and production scaling.

    Read the full thesis
  • Mercury Systems
    September 2026

    Mercury Systems develops mission-critical electronics for aerospace and defense and is seen as emerging from an operational reset with attractive valuation and improving margins.

    Read the full thesis
  • CrowdStrike Holdings
    September 2026

    CrowdStrike Holdings is positioned as the platform of record for AI-era cybersecurity with a longer growth runway from expanding security categories.

    Read the full thesis
  • Freshpet
    September 2026

    Freshpet makes premium refrigerated pet food and is seen as benefiting from secular growth, market share gains, and expanding margins.

    Read the full thesis
  • U.S. Physical Therapy
    September 2026

    U.S. Physical Therapy operates outpatient therapy clinics and is seen as benefiting from aging demographics, consolidation, and margin improvement opportunities.

    Read the full thesis
  • Trimble
    September 2026

    Trimble is transitioning into a higher-margin software and subscription platform with recurring revenue and digitalization tailwinds.

    Read the full thesis
  • Applied Materials
    September 2026

    Applied Materials remains levered to the AI buildout and is expected to see multi-year top-line growth acceleration despite the quarter’s de-rating.

    Read the full thesis

Showing the 48 most recent of 140 theses. Browse them by company to see the rest.

Letter archive · 73

2026

2025

2024

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