4527-T

4527-T

4527-T

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 2, 2025	AVI Global Trust	-	-	3608.T, 4527.T, 6201.T, 6727.T, 6971.T, 7912.T, 7984.T, 8802.T, 9301.T, 9531.T, AKRBF, APO, BOL.PA, CDI.PA, ENT.L, EXOR.MI, FRAS.L, GXIIF, IAC, NWSA, RKT	activism, Buybacks, Discounts, dividends, global, Japan, value	Eight years into Japan journey, managers are as optimistic as ever with developing market for corporate control, increasingly proactive management teams, and governance reform agenda permeating both small and large cap stocks. Combined with low valuations, Japan stacks up very attractively as a market where constructive approach to active engagement can yield real results. Japan exposure now accounts for 23% of NAV compared to 16% a year ago.		View
2025 Q2	Jul 17, 2025	Harding Loevner Global Small Companies	10.6%	7.2%	4395.T, 4527.T, 6566.T, ALO.PA, CKN.L, CYBR, DPLM.L, ELAN, ENS, G24.DE, GLOB, HPG.HM, MAXF.NS, RGA, RPLY.MI, SNR.L	AI, cybersecurity, global, innovation, IT Services, small caps, technology	AI adoption is accelerating across industries with companies investing in AI tools to strengthen competitive advantages. Small companies are leveraging AI for productivity gains and new service offerings, with some achieving meaningful cost savings and operational improvements.	CYBR GLOB	View
2024 Q2	Jun 30, 2024	TMR Partners Long Only	-	-	004800.KS, 005930.KS, 090430.KS, 329180.KS, 4527.T, 9022.T, CDI.PA, J36.SI, NWSA, VIV.PA	Discounts, Governance, Korea, Media, Unlisted Assets, value	Building exposure to Korea due to ongoing corporate governance reform agenda and rich array of deeply undervalued companies. Korean names have contributed +1.1% to NAV with weighted average total return of +25%, driven by strong performances at HD Hyundai (+54%), Hyosung Corporation (+71%) and Samsung C&T (+28%). 68% of the KOSPI index still trading below book value and 61% without any sell-side coverage.	NWSA	View
2025 Q1	May 6, 2025	Brookfield Asset Management	-	-	004800.KS, 005930.KS, 090430.KS, 329180.KS, 4527.T, 9022.T, CDI.PA, J36.SI, NWSA, VIV.PA	discount, Governance, Korea, Media, NAV, value	Building exposure to Korea due to corporate governance reform agenda and deeply undervalued companies. Korean names have contributed +1.1% to NAV with weighted average total return of +25%, driven by strong performances at HD Hyundai (+54%), Hyosung Corporation (+71%) and Samsung C&T (+28%). 68% of KOSPI index still trading below book value with 61% without sell-side coverage.	NWSA	View
2025 Q1	May 1, 2025	AVI Japan Opportunity Trust	-	9.9%	2778.T, 3106.T, 3443.T, 3529.T, 3989.T, 4347.T, 4527.T, 4549.T, 4708.T, 6727.T	activism, capital efficiency, Engagement, Japan, Small-cap, value	AVI employs a constructive engagement strategy with unique focus on operational improvements in addition to traditional activist themes of capital efficiency, shareholder communication, and corporate governance. The team holds more than 5% voting rights in 12 portfolio names accounting for 75% of NAV, with building large stakes beneficial for signaling long-term value creation intentions to management teams.	4527.T 3529.T 3106.T	View
2025 Q1	Apr 30, 2024	AVI Global Trust	-	-	4527.T, AKER.OL, ENT.L, IAC, NWSA, VIV.PA	activism, Corporate Governance, discount, Japan, Take-private, value	Toyota Industries take-private deal represents seismic shift in Japanese corporate governance. Foreign shareholders increasing presence, corporate governance reform pressures mounting, and cross-shareholding unwinding accelerating. This transaction dissolves symbolic resistance to governance reform and opens floodgates for broader market transformation.	GXI.DE 6201.T	View
2024 Q1	Apr 12, 2024	Firebird US Value Fund	-	-	004800.KS, 028260.KS, 090430.KS, 267250.KS, 4527.T, 9301.T, CDI.PA, CHRY.L, CORD.L, DIE.BR, ENT.L, GXI.DE, HVPE.L, J36.SI, NWSA, OCI.L, PGHN.SW, REA.AX, VIV.PA	discount, Engagement, Holdings, Korea, NAV, value	Building exposure to Korea due to ongoing corporate governance reform agenda and rich array of deeply undervalued companies. Korean names have contributed +1.1% to NAV with weighted average total return of +25%, driven by strong performances at HD Hyundai, Hyosung Corporation and Samsung C&T. 68% of KOSPI index still trading below book value and 61% without sell-side coverage.	NWSA	View
2023 Q4	Mar 31, 2023	Caledonia Investment	-	-	004020.KS, 009540.KS, 028260.KS, 090430.KS, 4527.T, 9301.T, C011.HK, CDI.PA, ENT.L, GXI.DE, MC.PA, NWSA, REA.AX, VIV.PA	discount, Governance, Holdings, Korea, NAV, value	Building exposure to Korea due to corporate governance reform agenda and deeply undervalued companies. Korean names have contributed +1.1% to NAV with weighted average total return of +25%. 68% of KOSPI index still trading below book value and 61% without sell-side coverage.	NWSA	View
2023 Q1	Mar 31, 2023	Airlie Australian Share Fund	3.5%	3.5%	000660.KS, 004800.KS, 005930.KS, 009540.KS, 028260.KS, 090430.KS, 4527.T, 9301.T, C6L.SI, CDI.PA, ENT.L, G.DE, LVMH.PA, NWSA, REA.AX, VIV.PA	Discounts, Engagement, Holdings, Korea, NAV, value	Building exposure to Korea due to ongoing corporate governance reform agenda and rich array of deeply undervalued companies. Korean names have contributed +1.1% to NAV with weighted average total return of +25%, driven by strong performances at HD Hyundai, Hyosung Corporation and Samsung C&T. 68% of KOSPI index still trading below book value and 61% without sell-side coverage.	NWSA	View
2023 Q4	Feb 12, 2024	Hinde Group	13.6%	48.4%	000660.KS, 002790.KS, 004020.KS, 005930.KS, 009540.KS, 028260.KS, 090430.KS, 4527.T, 9301.T, C8H.L, CORD.L, DIE.BR, ENT.L, HVPE.L, J36.SI, LVMH.PA, MC.PA, NWSA, OCI.L, PGHN.SW, REA.AX, VIV.PA	discount, global, Holdings, Korea, NAV, value	Building exposure to Korea due to corporate governance reform agenda and deeply undervalued companies. Korean names have contributed +1.1% to NAV with weighted average total return of +25%. 68% of KOSPI index still trading below book value and 61% without sell-side coverage.	NWSA IBKR	View
2024 Q4	Dec 31, 2024	AVI Global Trust	-	10.4%	4527.T, 7203.T, AKER.OL, CDI.PA, ENT.L, FRAS.L, NWSA, RKT.L, SBG	discount, Europe, Holding Companies, NAV, value	D'Ieteren announced an extraordinary €74 per share special dividend, equivalent to 39% of the company's market cap. AGT received proceeds of £35m, equivalent to 3.1% of NAV after 10% tax.	VIV.PA BOL.PA DIE.BR	View
2025 Q3	Nov 13, 2025	AVI Global Trust	-	12.4%	004800.KS, 005930.KS, 090430.KS, 329180.KS, 4527.T, 9301.T, C6L.SI, CDI.PA, ENT.L, NWSA, VIV.PA	discount, Governance, Korea, Media, NAV, value	Building exposure to Korea due to corporate governance reform agenda and deeply undervalued companies. Korean names have contributed +1.1% to NAV with weighted average total return of +25%, driven by strong performances at HD Hyundai (+54%), Hyosung Corporation (+71%) and Samsung C&T (+28%). 68% of KOSPI index still trading below book value and 61% without sell-side coverage.	NWSA 028260 KS	View
2025 Q4	Jan 13, 2026	AVI Global Trust	0.0%	-0.9%	000660.KS, 004800.KS, 005930.KS, 028260.KS, 207940.KS, 4527.T, 6727.T, 9531.T, AVGO, CHRY.L, FRAS.L, J36.SI, NVDA, NWSA, VIV.PA	Biotechnology, Discounts, Holding Companies, Korea, NAV, semiconductors, technology, value	Samsung Electronics has made material progress in improving HBM competitiveness, with latest HBM4 chips achieving top performance scores in Nvidia and Broadcom testing. The company is positioned to capture 30%+ global HBM market share in 2026 versus mid-teens in 2025. Global supply shortage for both HBM and traditional memory chips is creating strong pricing power. Samsung Biologics manufactures antibodies on behalf of global pharmaceutical companies, generating 90% of revenues from large-scale antibody production. The company generates EBIT margins of 50% versus peers at 20-25% and operates one of the world's largest biomanufacturing facilities. Biologics is positioned to compound earnings at mid-teens rates through to 2032. Starling Bank's banking-as-a-service platform Engine won a deal with Scotiabank's digital bank, marking Engine's first North American client. The deal is viewed as transformational in the context of the business's existing revenues. Management painted an optimistic picture for Engine's sales pipeline at a recent fintech conference.	028260 KS CHRY LN	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	AVI Japan Opportunity Trust	Rohto Pharmaceutical	Health Care	Personal Products	Bull	Tokyo Stock Exchange	Consumer healthcare, Eye-drops, Japan, market leader, Medium-term Plan, personal care, pharmaceuticals, R&D Reallocation, Skincare, valuation discount	View Pitch

BSD Shareholders of 4527-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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