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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | Sep 30, 2025 | ACATIS Investment | - | -0.2% | 2330 TT, 6920 JP, AMRZ, ANSS, CLS CN, CRM, DWNI GR, HAL, HIMS, HOLX, ICE, ISRG, KGH PW, KRN GR, KVUE, KYGA IR, LRCX, PEP, SNPS, UMI BB, UNH, UPWK, VNA GR, ZAL GR | energy security, fiscal deficits, Global Fragmentation, Industrial Policy, Trade Policy | The report discusses mounting geopolitical fragmentation and policy uncertainty, emphasizing how trade tensions, fiscal imbalances and shifting global alliances are reshaping capital flows and regional growth prospects. Management highlights structural challenges in Europe alongside opportunities tied to industrial policy, energy security and technological sovereignty. In this environment, ACATIS positions portfolios toward globally competitive companies with resilient business models and exposure to long-term structural trends rather than cyclical macro swings. | UPWK UMI BB PEP KGH PW HIMS HAL ZAL GR CLS CN SNPS HOLX ICE KRN GR 2330 TT |
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| 2025 Q2 | Jul 17, 2025 | Ariel Global Fund | 7.4% | - | 000660 KS, 1590 TT, 2319 HK, 6361 JP, 6920 JP, BBVA SM, DIS, FSLR, JD, LTMC IM, SNY, TSCO LN, ZBH | diversification, Global Equities, Governance, Quality, Rotation | The letter highlights global diversification benefits as leadership rotates across regions and sectors. Management focuses on high-quality global franchises with durable competitive advantages and strong governance. The outlook favors selective global exposure over U.S.-centric concentration. | BBVA SM 6920 JP |
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| 2025 Q2 | Jul 17, 2025 | Ariel International Fund | 12.6% | - | 000660 KS, 1590 TT, 2319 HK, 6361 JP, 6920 JP, BBVA SM, CHKP, JD, LTMC IM, SNY, TSCO LN | diversification, fundamentals, International Equities, Mean reversion, valuation gaps | The letter discusses international markets benefiting from valuation discounts relative to the U.S. Management emphasizes stock selection in developed and emerging markets with improving fundamentals. The outlook expects long-term convergence as capital flows rebalance globally. | CHKP 6920 JP |
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| 2025 Q1 | Mar 31, 2025 | ACATIS Investment | -5.5% | -5.5% | 2413 JP, 3458 JP, 4088 JP, 4755 JP, 6920 JP, 8113 JP, ADI, BIDU, BN, BNTX, ELIS FP, HNR1 GR, INTU, LEMN SW, MC FP, META, NDA GR, NVO, SPGI, SWKS, SY1 GR, UBER | Artificial Intelligence, Data centers, Energy Infrastructure, Pricing Power, semiconductors | The report discusses the continued global race to scale artificial intelligence capabilities, emphasizing capital intensity in semiconductors, data centers, and energy infrastructure as structural drivers of corporate investment. Management highlights the migration of value from hardware build-out toward software monetization, while warning that elevated equity valuations and geopolitical fragmentation increase dispersion across regions and sectors. Portfolio positioning favors globally competitive companies with durable pricing power and exposure to long-term innovation cycles rather than cyclical beta. | UBER SPGI BN BIDU 8113 JP 4755 JP 6920 JP SWKS ELIS FP HNR1 GR |
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| 2023 Q4 | Dec 1, 2024 | Polen Capital – International Growth | 3.3% | 3.9% | 6920 JP, AON, ASML, HDB, MDT, SGE LN, SHOP, TE8A GR, TEP FP, TSM, UL, ULVR LN | - | View | ||
| 2023 Q2 | Jul 19, 2023 | Polen Capital – International Growth | 3.3% | 3.9% | 6920 JP, BNZL LN, HDB, ICON, SGE LN, SHOP, TEP AV | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 26, 2026 | Fund Letters | Dr. Hendrik Leber | Lasertec Corporation | Information Technology | Semiconductor Equipment | Bull | New York Stock Exchange | CapEx cycle, Leading-Edge Nodes, Photomask Inspection, semiconductor equipment, Technology moat | View Pitch |
| Jan 20, 2026 | Fund Letters | Rupal J. Bhansali | Lasertec Corporation | Information Technology | Semiconductor Equipment | Bull | New York Stock Exchange | Capital Spending, Euv, manufacturing, process control, semiconductors | View Pitch |
| Jan 20, 2026 | Fund Letters | Rupal J. Bhansali | Lasertec Corporation | Information Technology | Semiconductor Equipment | Bull | New York Stock Exchange | CapEx, Euv, Inspection, semiconductors, technology | View Pitch |
| Dec 3, 2025 | Fund Letters | Rupal J. Bhansali | Lasertec Corporation | Information Technology | Semiconductor Equipment | Bull | NYSE | AI, CapEx, Equipment, Euv, Foundries, growth, Process, semiconductors | View Pitch |
| Dec 3, 2025 | Fund Letters | Rupal J. Bhansali | Lasertec Corporation | Information Technology | Semiconductor Equipment | Bull | NYSE | AI, CapEx, Equipment, Euv, Foundries, Inspection, Lithography, semiconductors | View Pitch |
| 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. | ||||||||