4443-T

4443-T

4443-T

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 27, 2025	Lakehouse Global Growth Fund	-	-	4443.T, ADYEN.AS, AMZN, GOOGL, HEM.ST, KXS.TO, MC.PA, MELI, PINS, SCHW, SE, SPOT, WIX	AI, E-Commerce, global, growth, Streaming, technology	Portfolio heavily weighted toward e-commerce leaders MercadoLibre and Sea Limited, both delivering strong growth. MercadoLibre grew net revenues 38% year-over-year to $22.4 billion with accelerating buyer growth. Sea Limited's Shopee platform emerged stronger with 30% revenue growth and improved profitability as regulatory pressures in Indonesia abated.	GOOGL SPOT MELI SE GOOG MELI SE	View
2025 Q2	Jul 17, 2025	Hosking Partners	-	12.2%	000660.KS, 055550.KS, 0669.HK, 4443.T, 6201.T, 7157.T, 7203.T, AMS.JO, AVGO, BAB.L, CPNG, III.L, IMP.JO, META, MSFT, MU, NHM.JO, NVDA, SGL.JO, SYL.JO, VIST	defense, diversification, global, Platinum, South Korea, technology, Trade Policy, value	Trump administration imposed 10% base tariff on all trade partners plus reciprocal tariffs based on trade surplus levels. Reciprocal tariffs paused except for China, but base tariff remained. This policy shift is expected to create significant reordering of winners and losers.	055550.KS CPNG 000660.KS III.L BAB.L	View
2024 Q1	May 15, 2024	Lakehouse Global Growth Fund	0.0%	0.0%	4443.T, ADYEN.AS, AMZN, CSU.TO, GOOGL, MELI, NOW, SCHW, SE, SPOT, V	AI, E-Commerce, global, growth, payments, software, technology	The fund sees mounting evidence of more rational competitive behavior from dominant players in Southeast Asia's e-commerce market, particularly as both Shopee and TikTok Shop raised take-rates meaningfully across several countries. This signals a more favorable industry structure ahead for the sector.	ADYEN NOW GOOGL	View
2024 Q4	Dec 31, 2024	Lakehouse Global Growth Fund	-	45.7%	4443.T, ADYEN.AS, AMZN, GOOGL, HEMN.ST, MELI, NOW, SCHW, SE, WIX	E-Commerce, global, growth, Networks, technology	The fund maintains significant exposure to e-commerce through Amazon, which showed relative strength during the month due to sustained growth in e-commerce. Amazon was the biggest contributor to performance with an 11.0% gain.		View
2025 Q3	Oct 14, 2025	Lakehouse Global Growth Fund	-	-	4443.T, ADYEN.AS, AMZN, GOOGL, KXS.TO, MELI, PINS, SCHW, SE, WIX	global, growth, Networks, Quality, technology	The portfolio includes major e-commerce platforms like MercadoLibre and Amazon, which exhibit clear market leadership and superior underlying economics. These businesses are positioned to thrive regardless of economic conditions due to their network effects and loyalty advantages.	WIX IL	View
2025 Q4	Jan 14, 2026	Lakehouse Global Growth Fund	0.0%	-8.5%	4443.T, ADYEN.AS, AMZN, CSU.TO, KXS.TO, MELI, PINS, TW, WIX, WK	global, growth, Networks, software, technology	The fund holds MercadoLibre, a leading Latin American e-commerce platform with network effects and loyalty advantages. The company represents one of the top holdings in the portfolio with strategic advantages in networks, loyalty, and intellectual property. Multiple holdings focus on enterprise software solutions including Workiva for compliance and reporting, Sansan for business networking, and Constellation Software for vertical software acquisitions. These companies benefit from loyalty and intellectual property moats. The fund holds Adyen, a global payment processing platform, and Tradeweb Markets, which operates electronic trading networks for fixed income markets. Both companies benefit from network effects and switching costs.		View
2024 Q3	Sep 30, 2024	Lakehouse Global Growth Fund	0.0%	0.0%	4443.T, AMZN, CSU.TO, GOOGL, MELI, NOW, SE, SPOT, WIX	E-Commerce, global, growth, Networks, software, technology	The fund holds significant positions in e-commerce leaders including MercadoLibre and Amazon. Sea Limited showed strong performance with a 17.8% gain during the month, capitalizing on leading market share and increasing take rates across Southeast Asian e-commerce markets. The ongoing increases in industry take rates may signal a more favorable industry structure ahead.		View
2024 Q2	Jul 29, 2024	Lakehouse Global Growth Fund	0.0%	0.0%	4443.T, AMZN, CRM, CSGP, CSU.TO, DOCS, GOOGL, MC.PA, MELI, NOW, SCHW, SPOT, V, WDAY	AI, Cloud, E-Commerce, global, growth, long-term, technology	Generative AI represents a transformative technology with foundational models trained on massive data sets that can be adapted for various applications. The best investment opportunities are in facilitators like cloud providers (AWS, Azure, GCP) and companies with proprietary first-party data that can build unique models with durable advantages. The technology is still in early build phase with many unknowns about how it will play out.	CSGP MELI SPOT AMZN	View
2025 Q1	Mar 31, 2025	Lakehouse Global Growth Fund	-	-	4443.T, ADYEN.AS, AMZN, GOOGL, MELI, SCHW, SE, TW, V, WIX	E-Commerce, Electronic Trading, global, growth, Networks, technology, Trade Policy	Portfolio includes major e-commerce platforms like MercadoLibre and Amazon, with Sea Limited's Shopee showing strong growth momentum. Shopee delivered 37% revenue growth and 28% GMV increase, demonstrating pricing power through improved take rates despite fee hikes.	TW SE	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
No pitches found.

BSD Shareholders of 4443-T

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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