ALLE

ALLE

ALLE

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q1	Apr 15, 2024	Harding Loevner Global Small Companies	7.8%	4.1%	6588.T, AAON, ALLE, ATKR, BWA, CYBR, ELAN, ENDV.L, ENS, FIVE, MBUU, MGPI, NEM.DE, OLLI, PFV.DE, RGA, RUB.PA, SWAV, XPEL, YOU.L	AI, cybersecurity, global, Japan, semiconductors, small caps, technology, value	Generative AI represents a powerful wave that has gained tremendous momentum since ChatGPT's launch. The world spent around $50B on AI-enabling chips in 2023, with forecasts ranging from $100B to over $400B in coming years. Smaller companies like Pfeiffer Vacuum occupy important niches in the AI supply chain through semiconductor manufacturing equipment.	CYBR PFEV.DE	View
2024 Q4	Dec 31, 2024	FMI All Cap Equity	-2.0%	11.0%	ALLE, ARMK, BJ, BKNG, BRK-B, FERG, G, GOOGL, HLI, OMC, RHI, SCHW	Diversified, long-term, Quality, ROIC, value	The fund holds Houlihan Lokey as its largest position at 4.1%, representing exposure to investment banking and financial advisory services. Charles Schwab represents another significant capital markets exposure at 4.0% of the portfolio.	OMC ALLE	View
2024 Q4	Dec 31, 2024	FMI Large Cap Equity	-4.0%	11.0%	ALLE, ARMK, AVY, BKNG, BRK-B, CARR, FERG, GOOGL, KMX, MAS, OMC, SCHW	Franchises, large cap, Quality, ROIC, valuation, value	The fund maintains a strong orientation to low absolute and relative valuation as key to executing their investment strategy. They purchase durable business franchises selling at a discount to intrinsic value. The portfolio trades at attractive valuations with P/E ratios below market levels.	OMC ALLE	View
2025 Q3	Nov 8, 2025	Brown Advisors Global Leaders Strategy	0.5%	13.0%	ALLE, ASML, BBCA.JK, DB1.DE, EVD.DE, GE, GOOG, INTU, LSEG.L, MA, MSFT, SCHW, TSM, UL, V, WDAY, XP	AI, financials, global, growth, Quality, technology, value	The manager discusses AI's impact on their portfolio, noting underperformance from not owning AI winners like NVIDIA, Oracle, and Broadcom. They analyze AI risks to London Stock Exchange Group's data assets and explore opportunities in AI-enabled SaaS companies like Workday that can harness AI to improve customer outcomes.	WDAY BBCA IJ TSLA	View
2025 Q3	Oct 19, 2025	Harding Loevner Global Small Companies	0.9%	8.1%	4587.T, 4975.T, 6383.T, 6869.T, 9962.T, 9988.HK, ALFA.ST, ALGN, ALLE, AMBU.CO, APPF, ATE.PA, BCHN.SW, BCPC, BESI.AS, BRN.DE, CKN.L, COO, CPA, CRDA.L, DIA.MI, DPLM.L, ELAN, ENS, EPAM, EVO.DE, EXPO, FELE, FN, FPE.DE, GLOB, HPG.HM, KXS.TO, LEHN.SW, NBIX, NEM.DE, PEN, PFV.DE, RAT.DE, RPY.MI, RUB.PA, SNR.L, SPSC, TECN.SW, TOM.OL, VAISALA.HE, WTS, ZEU.DE	AI, global, healthcare, momentum, Quality, small caps, value	The portfolio targets durable sources of return through quality, growth, and value, emphasizing steady, lower-beta businesses with strong fundamentals over higher-beta momentum plays. Quality companies in the benchmark underperformed lowest quality by more than 1,200 basis points during the quarter.		View
2025 Q4	Jan 26, 2026	Brown Advisors Global Leaders Strategy	0.0%	15.2%	ADBE, ALLE, ASML, AZO, EFX, EXPN.L, GE, GOOG, ILMN, LSEG.L, MA, MRVL, MSFT, ROG.SW, RTO.L, TSM, V, WDAY, WKL.AS, ZTS	AI, Data, global, infrastructure, Quality, technology	AI is incredibly fast moving with innovations from DeepSeek in China to chain of experts and reasoning models becoming default standards. The potential for disruption in advertising, call centers and software is running way ahead of current adoption. Three or possibly four LLMs have pulled away from the pack with feedback loops from reasoning models creating one-sided network effects from scale. Credit bureau market is effectively an oligopoly with extremely high barriers to entry due to uniqueness and scale of data. Equifax and Experian provide critical data and analytics services across various sectors with distinct growth drivers in workforce solutions, healthcare, marketing and international markets. Strategy focuses on high-quality companies with superior customer outcomes that can pass on prices and generate high levels of recurring revenue while requiring low financial leverage. Many quality compounders that were historically unjustifiably expensive have become significantly more attractive over the past couple of years.		View
2024 Q3	Sep 30, 2024	Harding Loevner Global Small Companies	7.8%	4.1%	AAON, AAPL, ADTC, ALLE, AMBU.CO, APPF, ATKR, BWA, CGNX, CYBR, DISO.MI, DPLO, ELANCO, ENS, EXPO, FIVE, GLOB, GWRE, HP, IPGP, KXS.TO, LAZ, LOB, LPRO, NCRX, OLLI, PEN, RGA, ROLL, SPLS, WTS, XPEL	AI, Consumer Staples, global, healthcare, industrials, small caps, technology	Artificial intelligence may have profound effects on plenty of industries and companies, but what it won't change are the human needs and desires underpinning demand for food and health-related products. The technology may change the way food and health-care businesses operate, but the demand that fuels their growth is less likely to be affected.		View
2024 Q3	Sep 30, 2024	BlackRock Global Dividend Fund	7.2%	14.8%	AAPL, ACN, ALLE, AMAT, AZN, LVMUY, MDLZ, MSFT, NVDA, NVO, OTIS, PM, SHEL, TSM, TXN	dividends, global, healthcare, industrials, Quality, technology	The fund focuses on carefully selected quality companies with strong dividend growth potential. The portfolio managers aim to provide dividend growth and consistent returns with lower volatility over the long-term through global dividend-paying companies.		View
2025 Q1	Apr 14, 2025	FMI All Cap Equity	-	-	AHT.L, ALLE, D05.SI, FCFS, LLOY.L, SW.PA	defense, Europe, financials, tariffs, technology, value, volatility	FMI emphasizes holding portfolios of durable businesses trading at discount valuations with strong cash flow generation. They welcome increased market volatility as it creates opportunities for value investors after a period where momentum dominated and individual security selection was an afterthought.	SW.PA ALLE FCFS	View
2025 Q1	Apr 14, 2025	FMI International Equity	-	-	AHT.L, ALLE, D05.SI, EDEN.PA, FCFS, LLOY.L, SW.PA	defense, Europe, financials, tariffs, technology, value	FMI emphasizes value investing approach, noting they are encouraged to see value stocks outperforming growth stocks in both the U.S. and abroad in 2025. They take comfort holding portfolios of durable businesses trading at discount valuations.	SW.PA ALLE FCFS	View
2025 Q1	Apr 14, 2025	FMI Large Cap Equity	-	-	AHT.L, ALLE, D05.SI, EDEN.PA, FCFS, LLOY.L, SW.PA	Banking, defense, Europe, Quality, tariffs, technology, value, volatility	FMI emphasizes value investing approach, holding portfolios of durable businesses trading at discount valuations. They welcome increased market volatility as it creates opportunities for value investors after momentum-driven markets.	SW.PA ALLE FCFS	View
2025 Q1	Apr 14, 2025	FMI Small Cap Equity	-	-	AHT.L, ALLE, D05.SI, FCFS, LLOY.L, SW.PA	defense, Europe, small cap, tariffs, technology, value, volatility	FMI takes comfort holding portfolios of durable businesses trading at discount valuations with strong cash flow. They welcome increased market volatility as it creates opportunities for value investors after a period where momentum dominated and individual security selection was an afterthought.	SW.PA ALLE FCFS	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	FMI All Cap Equity	Allegion Public Limited Co.	Industrials	Building Products	Bull	NYSE	aftermarket, Brand moat, Building Products, Cyclical, Electronic Security, Non-residential, oligopoly, Security Hardware	View Pitch
Apr 13, 2026	Fund Letters	FMI International Equity	Allegion Public Limited Co.	Industrials	Building Products	Bull	NYSE	aftermarket, brands, Cyclical, Electronic Products, Moat, oligopoly, Security Hardware, Value	View Pitch
Apr 13, 2026	Fund Letters	FMI Large Cap Equity	Allegion Public Limited Co.	Industrials	Building Products	Bull	NYSE	aftermarket, brands, Building Products, Cyclical, Electronic Security, oligopoly, Security Products, Value	View Pitch
Apr 13, 2026	Fund Letters	FMI Small Cap Equity	Allegion Public Limited Co.	Industrials	Building Products	Bull	NYSE	aftermarket, Building Products, Cyclical, Electronic Products, Equity, oligopoly, Security Hardware, Value	View Pitch
Apr 13, 2026	Fund Letters	FMI All Cap Equity	Allegion PLC	Industrials	Building Products	Bull	NYSE	Building Products, Cyclical, manufacturing, Non-residential, recurring revenue, Security Products, Value	View Pitch
Apr 13, 2026	Fund Letters	FMI Large Cap Equity	Allegion PLC	Industrials	Building Products	Bull	NYSE	Building Products, Cyclical, Electronic Security, Non-residential, recurring revenue, Security Products, US, Value	View Pitch
Aug 13, 2025	Seeking Alpha	The Value Investor	Allegion	Industrials	Security & Protection Services	Bull	NYSE	—	View Pitch

BSD Shareholders of ALLE

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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