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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | Apr 27, 2024 | Parnassus Growth Equity Fund | 3.3% | 21.0% | AAPL, ADYEY, AMAT, NTRA, TSM | - | View | ||
| 2024 Q1 | Apr 27, 2024 | Parnassus Mid Cap Growth Fund | 8.6% | 13.3% | ADYEY, BMRN, KLAC, LULU, MELI, MTD, NTR, PGR, SQ, TT, WDAY | - | View | ||
| 2024 Q4 | Dec 31, 2024 | Parnassus Mid Cap Growth Fund | -2.5% | 10.6% | A, ADYEY, ALGN, CSGP, DDOG, EFX, FTNT, GWRE, IDXX, KLAC, MELI, MTD, ODFL, PCOR, PGR, POOL, ROK, SHW, SQ, TEAM, TT, XYZ | - | View | ||
| 2023 Q3 | Oct 27, 2023 | Deep Sail Capital Partners | 13.8% | 23.5% | ADYEY, CREX | - | View | ||
| 2025 Q3 | Oct 24, 2025 | Rowan Street Capital | 0.2% | 20.4% | ADYEY, DNOPY, META, NFLX, SHOP, SPOT, TOI CN, TSLA, TTD | AI, Compounding, Founders, Quality, Tesla | Rowan outperformed with a 20.4% YTD gain, emphasizing founder-led compounders like Meta, Shopify, and Adyen. The fund reallocated from Spotify to Tesla, citing Teslas multi-layered moats in manufacturing, AI, data, and robotics. Managers view Tesla as a generational opportunity built on vertical integration and structural compounding power across autonomy and energy. | SPOT TSLA SPOT TSLA |
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| 2025 Q4 | Jan 22, 2026 | Sands Capital Global Growth Fund | 6.2% | 10.2% | 6861.T, ADYEY, AMZN, ASML, AXON, CVNA, DOCU, DOL.TO, FLUT, GOOGL, ISRG, MELI, NET, NFLX, NOW, NVDA, SHOP.TO, SPOT, TSM, V | AI, defense, energy, global, growth, Robotics, Space, technology | AI spread across industries in 2025, reshaping business models and driving market leadership. The firm maintains meaningful AI exposure through hardware and software providers with clear economic models, while avoiding areas where prices assume years of success or sustainable profit remains uncertain. Defense technology is entering a structural growth phase driven by rising geopolitical risk and convergence of military and commercial innovation. Focus on autonomous systems, space sensing, secure communications, and software that connects these pieces. Advances in AI compute power are pushing robotics forward with near-term opportunities in logistics and warehouse environments. Amazon's fulfillment network demonstrates how systems can share data and work safely with people. The energy transition is blending with new power demand from data centers, transportation, and industry, straining grids and forcing aggressive investment in power infrastructure. Expecting a multiyear investment cycle across the entire power value chain. Cyberattacks have become more frequent, costly, and sophisticated as more activity moves to the cloud and AI tools spread. Security is no longer discretionary but a core operating requirement and foundation for trust. Space is becoming part of everyday life with satellites supporting internet, defense, navigation, and climate monitoring. SpaceX has led efforts to lower launch costs by 95%, making supply cheaper and expanding viable missions. | ARGX APP SPOT MELI DASH AXON NFLX TSM TITAN IN GALD SW ISRG GOOGL |
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| 2025 Q4 | Jan 15, 2026 | Baillie Gifford – International Alpha | -1.7% | 17.5% | ADYEY, AMZN, APP, CRH, DASH, ELV, ENSG, FTAI, GOOGL, MA, META, MLM, MSCI, MSFT, NFLX, NVDA, RPRX, RYAAY, SCI, TSM | AI, global, growth, long-term, Quality, technology | AI spending and capabilities remain central to investment thesis across multiple holdings. Meta's elevated AI expenditure in 2026 creates execution risk but unlocks growth levers across its user base. Tencent's AI talent and research investments position it uniquely to leverage AI across gaming, advertising, and payments platforms. TSMC maintains dominant position capturing 70% of global foundry revenues with supply agreements across all key chip designers. Kokusai Electric benefits from recovery in memory markets and growing importance of batch ALD machines in AI memory chip manufacturing. Semiconductor cycle showing strength from Chinese and Korean manufacturers. Factory automation represents long-term structural growth opportunity. Keyence leads in sensors and machine-vision systems with 80% margins supported by direct sales model. Structural trends include rising automation, reshoring, and growing complexity in electric vehicle manufacturing providing long runway for growth. Sea's Shopee marketplace investing in service quality and faster shipping while expanding in Malaysia and Thailand to capture market share. Auto1 consolidating position as Europe's leading used car marketplace with 3% market share and growing direct-to-consumer Autohero brand providing margin expansion opportunity. | IOT QXO GAW AG1 GR AUTO LN TSM 6525 JP DG META SE |
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| 2025 Q4 | Jan 13, 2026 | Generation Investment Management Global Equity | - | - | ADYEY, AMZN, ASML, CRM, CSL, DHR, GOOGL, LEGN.PA, MCO, MELI, MSCI, MSFT, SIK.SW, SNPS, SPOT, SU.PA, TMO, TSM, VWS.CO, WDAY | AI, Energy Transition, global, long-term, Quality, sustainability, technology, valuation | Generation believes computing power demand will roughly triple if a third of internet users interact with AI services via voice for 20 minutes daily. They invest across the AI build-out from chip manufacturing (TSMC, ASML) to electrical equipment (Legrand, Schneider) to cloud companies. Roughly one third of the portfolio is involved in AI build-out in some capacity. Generation focuses on quality companies with strong pricing power, indispensable products, and long-term thinking management teams. They believe quality stocks have had one of their weakest relative performances in 15 years, creating attractive valuations. The portfolio has never been so cheaply valued relative to benchmark despite faster earnings growth. MercadoLibre serves as Latin America's core digital infrastructure, operating in 18 countries with strong positions in Brazil, Argentina and Mexico. The platform handled 1.8 billion shipments in 2024, roughly doubling from 2020 figures. Over half a million SMEs sell on the platform representing upwards of 70% of gross merchandise sales. Generation invests across the payments ecosystem including Visa, Mastercard, PayPal, and Adyen. Adyen processes EUR 1.4 trillion of payments with a single global platform approach. More than half of MercadoLibre users say Mercado Pago was their first digital payment method, demonstrating the financial inclusion benefits. The portfolio includes renewable energy companies like Vestas Wind Systems and energy efficiency companies like Legrand and Schneider Electric. Companies are setting science-based emissions targets with 67% of portfolio covered by validated targets. The transition faces political headwinds but technological and economic advances continue to accelerate. | View | |
| 2024 Q3 | Sep 30, 2024 | RiverPark Large Growth | 3.7% | 16.4% | ADYEY, BX, GOOG, KKR, META, MSFT, PINS, SCHW, SHOP, SNAP | - | View | ||
| 2024 Q3 | Sep 30, 2024 | Stenham Asset Management | 3.7% | 14.0% | ADYEY, ASML NA | - | View | ||
| 2023 Q3 | Sep 30, 2023 | Stenham Asset Management | -4.8% | 9.5% | ADYEY, CFMI, GOOG, MC FP, UMG | - | View | ||
| 2024 Q2 | Jun 30, 2024 | Loomis Sayles Global Growth Fund | 3.5% | 10.4% | ADYEY, CRSP, GOOG, RNA, SHOP, TCEHY | - | View | ||
| 2024 Q2 | Jun 30, 2024 | Stenham Asset Management | -3.3% | 12.3% | ADYEY, ASML NA | - | View | ||
| 2025 Q1 | Apr 16, 2025 | Rowan Street Capital | - | - | ADYEY, SPOT | - | View | ||
| 2025 Q1 | Apr 14, 2025 | Parnassus Growth Equity Fund | -8.6% | -8.6% | ADBE, ADYEY, APP, ASML, BRO, BSX, CRM, CSGP, DDOG, DE, EFX, EXAS, GEV, MSCI, PCOR, SN, SNPS, V, VRTX | - | View | ||
| 2025 Q1 | Mar 31, 2025 | Harding Loevner Global Equity | -2.1% | -2.1% | 6758 JP, ADYEY, ASML NA, G25 GR, GOOG, HEI, TTD, W | - | View | ||
| 2023 Q4 | Jan 24, 2024 | Rowan Street Capital | 12.8% | 42.3% | ADYEY, META, SHOP, SPOT, TOI CN, TTD | - | View | ||
| 2023 Q4 | Jan 24, 2023 | Stenham Asset Management | 11.1% | 21.8% | ADYEY, ASML NA, MSFT, TMO | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 15, 2026 | Seeking Alpha | Seeking Alpha | Adyen N.V. | Financial Technology | Payment Services | Neutral | Over-the-Counter | Adyen Uplift, EBITDA margin, Embedded finance, Legacy Competitors, market share, organic growth, payment service provider, Revenue Growth, Single Platform, valuation | View Pitch |
| Nov 29, 2025 | Fund Letters | Tom Coutts | Adyen N.V. | Information Technology | Financial Technology | Bull | Euronext Stock Exchange | Digital, Fintech, guidance, Payments, profitability, Scalability, tariffs | View Pitch |
| Nov 10, 2025 | Seeking Alpha | Seeking Alpha | Adyen N.V. | Software - Infrastructure | Bull | Adyen, customer retention, data capture, e-commerce, global reach, Payments, Pricing Strategy, technical capabilities, unified platform | View Pitch | ||
| Sep 23, 2025 | Seeking Alpha | Seeking Alpha | Adyen N.V. | Software - Infrastructure | Bull | growth metrics, innovative business model, land-and-expand strategy, payments industry, single-platform solution, stablecoins, Stripe competition, strong balance sheet, valuation, visionary management | 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. | ||||||||