Investor Summary
Fund Strategy
FUND PERFORMANCE AS OF 31st December 2025
| ANNUALIZED SINCE INCEPTION | QUARTERLY | YTD |
|---|---|---|
| 15.80% | - | - |
| 2025 |
|---|
| 21.0% |
| ANNUALIZED SINCE INCEPTION | QUARTERLY | YTD |
|---|---|---|
| 15.80% | - | - |
| 2025 |
|---|
| 21.0% |
Latitude delivered 21% returns in sterling terms for 2025, driven by fundamental earnings growth of 15% and modest valuation expansion. The portfolio's earnings per share grew from £13.0 to £14.3, maintaining the long-term average growth rate of 16% annually since inception. The manager emphasizes focusing on underlying value rather than short-term price volatility, using the analogy of a dog on a leash to illustrate how share prices fluctuate around fundamental value. Key contributors included Alphabet (+66%), Ryanair (+58%), and healthcare distributors McKesson and Cencora (both ~50%). United Health was the primary detractor (-33%) due to higher-than-expected medical cost trends. The portfolio maintains a defensive tilt with strong positions in healthcare, discount retail, and European infrastructure, while benefiting from a 5% annual tailwind from dividends and buybacks. The manager expects marginally higher fundamental growth over the next five years, with several companies positioned for acceleration from currently depressed levels. At 14x PE, the portfolio offers an attractive margin of safety.
Focus on delivering fundamental value growth through earnings and cash flow per share within the portfolio, believing that over the long term, price follows value and maintaining attention on building operating earnings rather than short-term price changes.
We believe our companies' prospects are undiminished, and our expectations for future fundamental growth are, if anything, even marginally higher than in the past. Our expectations for the next five years are marginally higher than they have been in the past, given that a fair few companies are likely to see acceleration in their growth from depressed reported levels.
| Date | Letter | Tickers | Keywords | Pitches | Quick Takes |
|---|---|---|---|---|---|
| Feb 11 2026 | 2025 Q4 | AI.PA, ASSA-B.ST, AZO, COR, DEO, DG.PA, DLTR, EIF.PA, GOOGL, ICE, JPM, MCK, RPRX, RYA.L, SHEL, TSCO.L, UNH, V | AI, Buybacks, Europe, growth, healthcare, infrastructure, retail, value |
DLTR AZO MCK RPRX RYAAY GOOGL JPM ICE |
Lower-income Americans continue to feel the squeeze, and local stores like Dollar Tree present unbeatable value and convenience. Their investments in merchandising and distribution are… |
| Oct 31 2025 | 2025 Q3 | AZO, COR, FGR FP, JPM, MCK, RYA ID, SONY | Airlines, Brokerage, DrugDistribution, GlobalEquities, infrastructure | - | Compounders: The letter highlights companies growing earnings 3050%+ while trading at reasonable valuations, such as Interactive Brokers, McKesson, Cencora, and Ryanair, demonstrating multi-year intrinsic-value growth.… |
| Jun 30 2025 | 2025 Q2 | AZO, DEO, DLTR | CashFlow, consumer, drawdowns, retail, value | - | The manager emphasizes disciplined buy-and-wait investing, showcasing cases where deep drawdowns created long-horizon value opportunities. Businesses like AutoZone, Dollar Tree, and Diageo illustrate how sentiment… |
| Mar 31 2025 | 2025 Q1 | TSCO | AI, Concentration, Margins, megacaps, Valuations | - | The letter highlights extreme overvaluation, concentration, and profit-cycle risks embedded in the US market, much of which is tied to AI enthusiasm and passive-flow feedback… |
| Dec 31 2024 | 2024 Q4 | AI FP, AZO, BP, COR, DEO, DG FP, DLTR, FGR FP, GOOG, HEIA NA, JPM, KO, MCK, RYA ID, SONY, TSCO, TXN, UEEC, ULVR LN, V, WEC | compounders, Macro, Resilience, Rotation, volatility | - | Dislocations driven by shifting global policy, sector rotations, and episodic volatility created opportunities to upgrade the portfolio into long-duration compounders. The manager emphasizes disciplined capital… |
| Sep 30 2024 | 2024 Q3 | DLTR, IBKR, MCK, RYA ID, TSCO | Airlines, banks, defensives, healthcare, Rotation | - | The manager discusses active rotation enabled by volatility, replacing maturing winners with new long-term compounders like Ryanair, Cencora, and UnitedHealth. Market dislocations create entry points… |
| Jun 30 2024 | 2024 Q2 | - | concessions, France, inflation, infrastructure, tollroads | - | The French election caused a sharp selloff in motorway concession operators Vinci and Eiffage, creating what the manager argues is a mispriced opportunity. Legal, financial,… |
| Mar 31 2024 | 2024 Q1 | IKBR | FinancialTechnology, LowCostProvider, MarketShareGain, NetInterestMargin, OnlineBrokerage | - | ElectronicBrokerage: Interactive Brokers is highlighted as a technology-led global broker with a 50-year history of automation that now offers materially lower margin lending rates and… |
| Dec 31 2023 | 2023 Q4 | AAP, AI FP, AZO, DEO, GOOG, MCK, SONY, TSCO, WEC | ConsumerStaples, emergingmarkets, EnergyTransition, financials, OilGas | - | ConsumerStaples: The fund is heavily invested in global consumer staples such as Tesco, Unilever, Diageo, Imperial Brands, Heineken and Coca-Cola, where underlying earnings growth remains… |
| Sep 30 2023 | 2023 Q3 | - | CashFlow, Compounding, cyclicals, multiples, value | - | Relative value dispersion has widened dramatically, with a small subset of megacap tech driving index performance despite richer valuations and low incremental returns. Broader markets… |
| Jun 30 2023 | 2023 Q2 | - | Capex, commodities, cyclicals, energy, Rotation | - | Market leadership is shifting away from crowded megacap technology toward under-owned cyclicals and capital-intensive sectors benefiting from a broadening capex cycle. AI enthusiasm has created… |
| Mar 31 2023 | 2023 Q1 | - | banks, inflation, liquidity, rates, yieldcurve |
JPM BAC EQNR NO SHEL LN TSCO LN DGE LN WEC US 6758 JP MCK US AZO US AI FP GOOGL US IBKR DG FP UNH IBKR US JPM US BAC US V US DLTR US ULVR LN KO US UNH US COR US MCK COR AZO |
Central bank tightening, deposit flight, and liquidity withdrawal created valuation pressure across equities, increasing the opportunity cost versus cash and bonds. Higher yields shift relative… |
| QUARTER | THEMES | TAGS |
|---|---|---|
| 2025 Q4 |
AIAI has been integrated into RGA's research process through tools like NotebookLM, Gems in Gemini, and Claude Code. The firm views AI as a force multiplier for human judgment rather than a replacement, emphasizing the Kasparov Law principle. They believe the market narrative around AI displacement is swinging to unhelpful extremes, creating investment opportunities. |
Machine Learning Automation Software Productivity Innovation |
BuybacksShare repurchases in 2024 and 2025 hit consecutive records as companies raced to meet Tokyo Stock Exchange capital efficiency mandates. Buybacks were a primary driver of the market's 20% climb in the first half of FY2025. |
Share Repurchases Capital Efficiency TSE Mandates Shareholder Returns Records | |
Discount RetailLower-income Americans continue to feel the squeeze, and local stores like Dollar Tree present unbeatable value and convenience. Their investments in merchandising and distribution are key competitive advantages in a world of tariffs and potential inflation. The company's prospects are bright, especially if we do ever see a rise in unemployment, which tends to benefit discount stores. |
Dollar Stores Trade Down Consumer Finance Retail Inflation Unemployment | |
HealthcareHealthcare was the strongest relative contributor in the quarter with holdings increasing nearly +16% compared to benchmark returns of roughly +12%. Exact Sciences was acquired for a significant premium by Abbott Laboratories resulting in an +86% return, while other strong performers included Tarsus Pharmaceuticals, Glaukos following approval of a new product, Penumbra, and Repligen driven by strong earnings results. |
M&A Product Approval Earnings Biotech | |
InfrastructureDigital 9 Infrastructure holds telecom infrastructure assets including Arqiva stake. Despite poor 2025 performance, potential capital returns and asset sales could unlock value. Infrastructure assets provide defensive characteristics. |
Telecom Infrastructure Digital Infrastructure | |
TravelRoyal Caribbean exemplifies the portfolio's focus on companies combining physical assets with technology innovation, using AI and technology for pricing optimization, packaging, promotions, and onboard customer experience delivery. |
Technology Pricing Experience Innovation Optimization | |
| 2025 Q3 |
ChinaChina's economic rebalancing appears to be moving forward. Market liquidity, anti-involution and a measured consumer policy are likely to drive a sustained market performance in 4Q. Fiscal support and ongoing reforms in China is supportive of a stronger currency. |
Growth Policy Currency |
| 2025 Q2 |
ValueThe manager continues to find attractive value opportunities despite expensive markets, purchasing undervalued companies like Centene, GlaxoSmithKline, Carrefour and PayPal trading at low multiples with strong fundamentals. |
Undervalued Low Multiples Contrarian Opportunistic |
| 2025 Q1 |
AIAI has been integrated into RGA's research process through tools like NotebookLM, Gems in Gemini, and Claude Code. The firm views AI as a force multiplier for human judgment rather than a replacement, emphasizing the Kasparov Law principle. They believe the market narrative around AI displacement is swinging to unhelpful extremes, creating investment opportunities. |
Machine Learning Automation Software Productivity Innovation |
| 2024 Q4 |
SpaceSpaceX is generating significant value with rapid expansion of Starlink broadband service, deploying vast satellite constellation with substantial user growth. The company has established itself as leading launch provider with reusable technology and is making tremendous progress on Starship rocket. SpaceX represents the fund's largest position at 19.2% of net assets. |
Satellites Launch Starlink Starship Reusable |
| 2024 Q3 |
ActivismShareholder activism continues to grow with 152 campaigns in North America in 2025, a 20.6% increase from 2024. The strategy has evolved from stigmatized to accepted and now necessary as passive investing increases. Non-activist managers are resorting to activism to realize intrinsic value as fewer investors buy and sell based on fundamentals. |
Shareholder activism Proxy contests Board representation Value creation Catalyst |
| 2024 Q2 |
SpaceSpaceX is generating significant value with rapid expansion of Starlink broadband service, deploying vast satellite constellation with substantial user growth. The company has established itself as leading launch provider with reusable technology and is making tremendous progress on Starship rocket. SpaceX represents the fund's largest position at 19.2% of net assets. |
Satellites Launch Starlink Starship Reusable |
| 2024 Q1 |
ActivismShareholder activism continues to grow with 152 campaigns in North America in 2025, a 20.6% increase from 2024. The strategy has evolved from stigmatized to accepted and now necessary as passive investing increases. Non-activist managers are resorting to activism to realize intrinsic value as fewer investors buy and sell based on fundamentals. |
Shareholder activism Proxy contests Board representation Value creation Catalyst |
| 2023 Q4 |
EnergyBHE operates regulated utilities serving 5.4 million customers and natural gas pipelines. The business faces significant investment needs driven by AI computing demand and wildfire risk mitigation, particularly in the Western U.S. |
Regulated Utilities Natural Gas Renewable Energy Grid Infrastructure |
FinancialsEuropean banks have been rehabilitated after years in purgatory, with returns of 77% in 2025. Return on equity has normalized above 12% following exit from ultra-low rates, while capital positions have been rebuilt. However, supportive factors are well-appreciated by markets, reflected in significant valuation re-rating. |
Banks Return On Equity Interest Rates Capital Valuations | |
| 2023 Q3 |
Mispricing |
|
| 2023 Q2 |
SpaceSpaceX is generating significant value with rapid expansion of Starlink broadband service, deploying vast satellite constellation with substantial user growth. The company has established itself as leading launch provider with reusable technology and is making tremendous progress on Starship rocket. SpaceX represents the fund's largest position at 19.2% of net assets. |
Satellites Launch Starlink Starship Reusable |
| 2023 Q1 |
RatesFed cut rates by 25bps on December 10 while describing growth as moderate and inflation as still somewhat elevated. Markets took message as cut now, likely pause soon. The opportunity set was less about calling one Fed meeting and more about trading the path via rates and FX. |
Fed Easing Policy Duration Curve |
| Date | Pitch Type | Author | Ticker | Company | Industry | Sub Industry | Bull / Bear | Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | Fund Letters | Freddie Lait | WEC US | WEC Energy Group, Inc. | Utilities | Multi-Utilities | Bull | NYSE | Decarbonization, dividend, infrastructure, Regulation, utilities | Login |
| Dec 31, 2024 | Fund Letters | Freddie Lait | UNH US | UnitedHealth Group Incorporated | Health Care | Managed Health Care | Bull | NYSE | Demographics, healthcare, Insurance, scale, Vbc | Login |
| Dec 31, 2023 | Fund Letters | Freddie Lait | 6758 JP | Sony Group Corporation | Information Technology | Movies & Entertainment | Bull | NYSE | buybacks, Content, Gaming, semiconductors, Streaming | Login |
| Dec 31, 2024 | Fund Letters | Freddie Lait | COR US | Cencora, Inc. | Health Care | Health Care Technology | Bull | NYSE | Distribution, growth, healthcare, oligopoly, specialty | Login |
| Dec 31, 2023 | Fund Letters | Freddie Lait | MCK US | McKesson Corporation | Health Care | Health Care Technology | Bull | NYSE | buybacks, Distribution, Generics, healthcare, Margins | Login |
| Oct 31, 2025 | Fund Letters | Freddie Lait | MCK | McKesson Corporation | Health Care | Health Care Technology | Bull | NYSE | buybacks, cashflow, Defensiveness, Distribution, growth, healthcare | Login |
| Dec 31, 2023 | Fund Letters | Freddie Lait | AZO US | AutoZone, Inc. | Consumer Discretionary | Specialty Stores | Bull | NYSE | aftermarket, Autos, Competition, expansion, Pricing | Login |
| Oct 31, 2025 | Fund Letters | Freddie Lait | COR | Cencora Inc. | Health Care | Health Care Technology | Bull | NYSE | Biotech, cashflow, Defensiveness, Distribution, growth, Logistics | Login |
| Dec 31, 2023 | Fund Letters | Freddie Lait | AI FP | L'Air Liquide S.A. | Information Technology | Industrial Machinery | Bull | Euronext Stock Exchange | energy, Gases, Hydrogen, Industrial, infrastructure | Login |
| Oct 31, 2025 | Fund Letters | Freddie Lait | AZO | AutoZone, Inc. | Consumer Discretionary | Specialty Retail | Bull | NYSE | Accounting, aftermarket, buybacks, Fragmentation, retail, scale | Login |
| Dec 31, 2023 | Fund Letters | Freddie Lait | GOOGL US | Alphabet Inc. | Communication Services | Interactive Media & Services | Bull | NASDAQ | advertising, AI, cloud, Regulation, Search | Login |
| Feb 11, 2026 | Fund Letters | Freddie Lait | DLTR | Dollar Tree, Inc. | Consumer Discretionary | Broadline Retail | Bull | NASDAQ | consumer, discount, divestiture, retail, Trade-down | Login |
| Mar 31, 2024 | Fund Letters | Freddie Lait | IBKR | Interactive Brokers Group, Inc. | Financials | Investment Banking & Brokerage | Bull | NASDAQ | Brokerage, Fintech, growth, Margins, Moat, NIM, scale | Login |
| Feb 11, 2026 | Fund Letters | Freddie Lait | AZO | AutoZone, Inc. | Consumer Discretionary | Specialty Retail | Bull | New York Stock Exchange | Auto parts, Competition, expansion, Margins, retail | Login |
| Jun 30, 2024 | Fund Letters | Freddie Lait | DG FP | Vinci SA | Consumer Discretionary | Construction & Engineering | Bull | Euronext Stock Exchange | compounding, Concessions, Europe, inflation, infrastructure, Tollroads | Login |
| Feb 11, 2026 | Fund Letters | Freddie Lait | MCK | McKesson Corporation | Health Care | Health Care Distributors | Bull | New York Stock Exchange | Distribution, healthcare, resilience, specialty, Toll-Road | Login |
| Sep 30, 2024 | Fund Letters | Freddie Lait | UNH | UnitedHealth Group Inc. | Health Care | Managed Health Care | Bull | NYSE | defensive, Eps, healthcare, Insurance, Integration, services | Login |
| Feb 11, 2026 | Fund Letters | Freddie Lait | RPRX | Royalty Pharma plc | Health Care | Pharmaceuticals | Bull | NASDAQ | Barriers, Biotech, cash flow, pharmaceuticals, royalties | Login |
| Dec 31, 2024 | Fund Letters | Freddie Lait | IBKR US | Interactive Brokers Group, Inc. | Financials | Investment Banking & Brokerage | Bull | NASDAQ | Brokerage, growth, scale, technology, Trading | Login |
| Feb 11, 2026 | Fund Letters | Freddie Lait | RYAAY | Ryanair Holdings plc | Industrials | Passenger Airlines | Bull | NASDAQ | Airlines, Capacity, Cost advantage, growth, Pricing | Login |
| Mar 31, 2023 | Fund Letters | Freddie Lait | JPM | JPMorgan Chase & Co. | Financials | Diversified Banks | Bull | NYSE | Banks, Capital, consolidation, Deposits, Liquidity | Login |
| Dec 31, 2024 | Fund Letters | Freddie Lait | JPM US | JPMorgan Chase & Co. | Financials | Diversified Banks | Bull | NYSE | Banks, Deposits, Regulation, Returns, scale | Login |
| Feb 11, 2026 | Fund Letters | Freddie Lait | GOOGL | Alphabet Inc. | Communication Services | Interactive Media & Services | Bull | NASDAQ | AI, cloud, Data, Moat, Search | Login |
| Mar 31, 2023 | Fund Letters | Freddie Lait | BAC | Bank of America Corp. | Financials | Diversified Banks | Bull | NYSE | Banks, Deposits, profitability, Regulation, valuation | Login |
| Dec 31, 2024 | Fund Letters | Freddie Lait | BAC US | Bank of America Corporation | Financials | Diversified Banks | Bull | NYSE | Banks, Credit, Deposits, Interest, valuation | Login |
| Feb 11, 2026 | Fund Letters | Freddie Lait | JPM | JPMorgan Chase & Co. | Financials | Diversified Banks | Bull | New York Stock Exchange | Deposits, Diversified Bank, ROE, scale, technology | Login |
| Jun 30, 2023 | Fund Letters | Freddie Lait | EQNR NO | Equinor ASA | Energy | Integrated Oil & Gas | Bear | - | cashflow, energy, Europe, Gas, valuation | Login |
| Dec 31, 2024 | Fund Letters | Freddie Lait | V US | Visa Inc. | Financials | Data Processing & Outsourced Services | Bull | NYSE | Fintech, Moat, network, Payments, services | Login |
| Feb 11, 2026 | Fund Letters | Freddie Lait | ICE | Intercontinental Exchange, Inc. | Financials | Financial Exchanges & Data | Bull | New York Stock Exchange | Data, Electronification, Exchanges, oligopoly, valuation | Login |
| Jun 30, 2023 | Fund Letters | Freddie Lait | SHEL LN | Shell plc | Energy | Integrated Oil & Gas | Bull | London Stock Exchange | buybacks, dividend, energy, oil, valuation | Login |
| Dec 31, 2024 | Fund Letters | Freddie Lait | DLTR US | Dollar Tree, Inc. | Consumer Discretionary | General Merchandise Stores | Bull | NASDAQ | consumer, discount, Margins, retail, turnaround | Login |
| Dec 31, 2023 | Fund Letters | Freddie Lait | TSCO LN | Tesco PLC | Consumer Discretionary | Specialty Stores | Bull | London Stock Exchange | grocery, inflation, marketshare, supermarkets, valuation | Login |
| Dec 31, 2024 | Fund Letters | Freddie Lait | ULVR LN | Unilever PLC | Consumer Staples | Personal Products | Bull | London Stock Exchange | activist, dividend, Personalcare, spin-off, Staples | Login |
| Dec 31, 2023 | Fund Letters | Freddie Lait | DGE LN | Diageo plc | Consumer Staples | Distillers & Vintners | Bull | London Stock Exchange | Emerging, Inventory, margin, premiumization, Spirits | Login |
| Dec 31, 2024 | Fund Letters | Freddie Lait | KO US | The Coca-Cola Company | Consumer Staples | Soft Drinks | Bull | NYSE | Beverages, Concentrate, defensive, dividend, franchise | Login |
| TICKER | COMMENTARY |
|---|---|
| AI.PA | Air Liquide, one of our larger holdings in the portfolio, experienced downward market pressure. We trimmed our position over the last few months based on valuation yet view the company's strategic positioning in decarbonization and ongoing contract wins supporting durable earnings potential. |
| ASSA-B.ST | Assa Abloy 0.6% |
| AZO | We initiated two new positions during the year—Greggs and AJ Bell, whilst reducing our exposure to NEXT and Compass Group; and selling out of AutoZone entirely during September. |
| COR | Cencora Inc., a pharmaceutical sourcing and distribution company, gained 8%. Fiscal fourth quarter earnings outpaced the consensus as strength in the U.S. offset a miss in their international business. Management also announced that it is considering strategic alternatives for the animal health and non-core parts of its PharmaLex business. |
| DEO | Examples include Tidewater, Valaris, Constellation Brands, Diageo and Trex. We have discussed TDW and VAL previously, as well as STZ and DEO here. |
| DG.PA | 2025 was a very solid year for our French-listed infrastructure companies and an even better year for the shares, with Eiffage up c.50% and Vinci c.25%. Vinci's airport division was, yet again, Europe's fastest growing network. |
| DLTR | A non-benchmark position in Dollar Tree, Inc. (DLTR) contributed to performance driven by better-than-expected third-quarter earnings due to increased seasonal boosted margins and profitability. |
| EIF.PA | 2025 was a very solid year for our French-listed infrastructure companies and an even better year for the shares, with Eiffage up c.50% and Vinci c.25%. Despite the rallies this year, they have inexpensive valuations offering substantial double-digit prospective returns. |
| GOOGL | In the third quarter, Google, Kairos Power, and the Tennessee Valley Authority announced a major collaboration centered on a novel power purchase agreement. Google followed this announcement with another significant step forward. On October 27, Google and NextEra Energy announced plans to restart the Duane Arnold Energy Center. |
| ICE | Intercontinental Exchange (ICE) is a long-term holding and remains a top 10 position in the Fund. ICE's share price has been under pressure, largely due to AI-related concerns. The share price has already recovered 15% from recent lows. |
| JPM | JPMorgan (JPM) has identified 42 AI-related stocks in the S&P 500, which today represent 45% of the index's market cap. They estimate that these stocks have accounted for 78% of S&P 500 returns, 66% of earnings growth, and 71% of capital spending growth since ChatGPT launched in November 2022. As it relates to the impact on the U.S. economy, JPM estimates tech sector capital spending contributed 40%-45% of U.S. GDP growth through the first 9 months of the year, up from less than 5% during the same period in 2023. |
| MCK | This is a pharmaceutical distribution company, operating mainly in the United States. I followed their industry for many years. I first bought the stock for US$144 in the spring of 2018 when many investors worried the company would be permanently damaged by liabilities stemming from the opioid crisis in the United States. We later bought the stock for US$205 when Greenfield started managing money in September 2021, representing roughly 10 times earnings. The stock has climbed steadily to US$824 today, which works out to roughly 20 times earnings. We have trimmed the position size but continue to own shares today. I see the investment similar to a royalty on Americans taking more pharmaceuticals over time. |
| RPRX | Thirty years later, the company he founded, Royalty Pharma, generates over $2bn per year in cash flow, produced by royalties on a highly diversified collection of drugs, including 7 of the top 30 in the US. The company has a 40-50% market share of all pharma royalties and remains dominant today, despite attempts at competition from large private equity firms like Blackstone. |
| RYA.L | After posting an in-line September quarter and providing a better-than-expected outlook for the holiday travel season based on forward bookings, Ryanair outlined a bullish long-term outlook. Based on continued industry capacity constraints and the company's widening unit cost advantage, Ryanair believes it can raise fares while maintaining its significant value gap to competitors and increase net profit per passenger from €10 today to €12 to €14 over the next decade. |
| SHEL | Global oil & gas producer and distributor |
| TSCO.L | Tesco, a UK-based multinational grocery and retail company operating a leading supermarket chain. Now one of our top 10 holdings in the portfolio, Tesco continues to benefit from its scale advantages and price leadership, which have allowed it to gain market share despite a competitive environment and a UK consumer backdrop that remains value conscious. At the same time, margin contributions from initiatives in retail media and continued share repurchases support earnings growth without requiring an improvement in consumer spending. |
| UNH | We also added back a full position in UnitedHealth |
| V | There were companies there such as Visa, which we own, as well as many we do not, and which would not likely be appropriate for this mandate. |
| Ticker | Put/Call | Amount Bought | Shares Bought | % Change | Weight % |
|---|---|---|---|---|---|
| No Recent Buys Data | |||||
| Ticker | Put/Call | Amount Sold | Shares Sold | % Change | Weight % | Status |
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| No Recent Sells Data | ||||||
| Industry | Prev Quarter % | Current Quarter % | Change |
|---|---|---|---|
| No industry data available | |||