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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q1 | Mar 31, 2025 | Orbis International Equity | - | - | 2502.T, 3141.T, 3391.T, 7649.T, 8795.T, 9989.T | Buybacks, Consolidation, Corporate Governance, Currency, international, Japan, retail, value | Orbis has significantly increased Japan exposure from 7% to over 20%, focusing on domestic businesses in retail, construction, logistics, life insurance and staffing. Japanese companies are improving capital efficiency through corporate governance reforms, with examples like T&D Holdings and Asahi Group implementing aggressive buyback programs. The yen appears undervalued relative to economic fundamentals, offering opportunity to buy quality assets at depressed valuations. | View | |
| 2025 Q3 | Oct 24, 2025 | Pzena International Value ADR Strategy | 6.6% | 27.3% | 6367.T, 6762.T, 8795.T, AKE.PA, BABA, CON.DE, DTG.DE, INGA.AS, ML.PA, NWG.L, RXL.PA, TEP.PA | AI, Asia, Europe, financials, international, Recovery, value | The manager emphasizes investing in cheap company valuations when assessed against fundamentals, with portfolios weighted toward businesses in profit recovery mode. Recent uncertainty has created opportunities for long-term value investors. | ARK FP DTG GR 6762 JP BABA ARK FP DTG GR BABA |
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| 2024 Q3 | Sep 30, 2024 | Hardman Johnston International Equity | 5.7% | 17.2% | 1299.HK, 3690.HK, 7011.T, 7269.T, 8750.T, 8795.T, AIR.PA, ASML, AZN, DTE.DE, FTI, GMAB, GRFS, HDFCBANK.NS, ICICIBANK.NS, MC.PA, MELI, NEX.PA, NOD.OL, NVO, PRX.AS, PRY.MI, RHM.DE, SAF.PA, STAN.L, TEAM, TSM, UCB.BR | AI, defense, Energy Transition, Equity, international, Japan, semiconductors, volatility | Defense has generated strong returns for investors this year and is likely to continue to perform given the international focus on increased spending in a more volatile and uncertain world. The Japanese government is significantly expanding its defense budget to counter national security threats, benefiting companies like Mitsubishi Heavy Industries. | NEXN.PA NVO ASML NOD.OL PRX.AS MELI PRY.MI 7011.T |
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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. | ||||||||