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| 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 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 |
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| 2025 Q3 | Oct 14, 2025 | AVI Japan Opportunity Trust | - | - | 3106.T, 3529.T, 6727.T | activism, Buybacks, Japan, small caps, value | Multiple portfolio companies completed or announced significant share buyback programs. Kurabo completed a Y6bn buyback program representing 7.3% of total shares. The fund's engagement strategy includes advocating for buybacks as part of capital efficiency improvements. | 6727 JP |
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| 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 |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| 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. | ||||||||