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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | Sep 30, 2025 | YCG Investment | - | - | AMZN, BABA, META, MSFT | Banking, liquidity, Pricing Power, Quality, regulation | The banking crisis revealed structural duration and liquidity risks, prompting deposit flight and tightening credit conditions. Brokerage accounts remain insulated due to asset segregation, insurance layers, and regulatory oversight. Quality businesses with dominant market positions, strong balance sheets, and pricing power remain attractive in uncertain environments. | View | |
| 2025 Q3 | Sep 30, 2025 | Antipodes Global Value Fund | - | - | 4063 JP, 6367 JP, 6702 JP, ASAIY, B, BABA, EAT, GMED, GOOG, MPNGY, MRK, PCOR, TCEHY, VALT LN | AI, China, Cloud, Platforms, semiconductors | AI optimism fuels U.S. tech strength and Chinas policy-supported chip and platform expansion, driving major contributors such as Alphabet, Tencent, and Alibaba. The fund emphasizes AI monetization across cloud, gaming, advertising, and silicon supply chains. AI remains a central multiyear growth engine shaping valuation, sector rotation, and capital allocation. | GOLD US 6367 JP GMED US PCOR US 4063 JP 300750 CH GOLD US |
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| 2025 Q2 | Aug 7, 2025 | Alluvium Global Fund | - | - | BABA, DKS, LBRDA, LNR CN, LYB, RHI, RYA ID, THO | balance, diversification, global, risk, structure | The commentary emphasizes global diversification across regions and sectors amid rising geopolitical and macro uncertainty. The manager discusses balancing growth and defensiveness, with a focus on companies benefiting from long-term structural trends rather than cyclical speculation. Risk management and adaptability are core portfolio principles. | BABA LYB RHI LBRDA THO GPI AN LNR CN DKS |
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| 2025 Q2 | Aug 27, 2025 | First Eagle Global Fund | 7.2% | - | BA/ LN, BABA, BDX, META, ORCL, SLB, TSM, WTW | Fiscal, inflation, Labor, Resilience, wages | The commentary centers on the underappreciated risk of renewed inflation driven by labor market tightness, fiscal expansion, and demographic constraints. While markets appear to be pricing equilibrium, the manager argues that shrinking labor supply and sustained fiscal largesse could reignite wage pressures and destabilize monetary policy. The fund emphasizes resilience through diversified global assets positioned to withstand inflationary and policy shocks. | BABA WTW SLB BDX TSM META ORCL |
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| 2025 Q2 | Aug 25, 2025 | Oldfield Partners Overstone Global Large Cap | 8.7% | 19.7% | 6971 JP, BABA, BNZL.L LN | Currency Risk, fiscal deficits, global diversification, valuation gaps, value | The letter emphasizes global value investing amid extreme valuation dispersion between U.S. equities and the rest of the world. Management highlights excessive U.S. dollar strength, unsustainable fiscal deficits, and elevated U.S. equity multiples as risks, while non-U.S. markets trade at meaningful discounts. Diversification across currencies, regions, and real assets is positioned as critical to preserving real returns as regimes shift. | View | |
| 2023 Q2 | Aug 14, 2023 | JB Global Capital Fund | -2.6% | 9.2% | BABA, STNE | - | View | ||
| 2025 Q2 | Jul 27, 2025 | Diamond Hill International | 11.7% | 16.1% | 7451 JP, 8058 JP, AIBG ID, BABA, BNZL LN, GXI GR, HNAL IN, M5W GR, TSCO, TSM, UCB BB | capital returns, diversification, Governance, international, Intrinsic Value | The letter emphasizes intrinsic value investing in non-U.S. equities trading at discounts to long-term fundamentals. Corporate governance reform, capital returns, and balance sheet strength are key drivers of upside. Regional diversification provides exposure to differentiated economic cycles. | HAL IN |
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| 2025 Q2 | Jul 27, 2025 | Jackson Peak Capital | - | - | BABA, ENR, META, PLTR | AI, Event-Driven, Long/Short, tariffs, volatility | The commentary frames heightened volatility as fertile ground for long/short strategies driven by fundamental and event-driven opportunities. Management highlights tariff-driven dislocations, rapid drawdowns, and sharp recoveries as conditions favoring active exposure management. AI beneficiaries and European stimulus-linked investments are positioned as key return drivers. | View | |
| 2025 Q2 | Jul 24, 2025 | Polen Capital – Emerging Markets Growth | 12.6% | 14.5% | 8069 TT, BABA, DLO, PDD, TME, WIZZ LN | Compounding, earnings growth, emerging markets, Quality, secular growth | The letter emphasizes long-term secular growth in emerging markets driven by rising middle-class consumption, digital adoption, and high-quality companies gaining share in underpenetrated markets. Management argues that short-term macro volatility and geopolitics obscure durable earnings growth and return-on-capital advantages. The strategy focuses on a concentrated set of resilient compounders capable of sustaining above-average growth through cycles. | 8069 TT PDD WIZZ LN DLO BABA TME |
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| 2025 Q2 | Jul 22, 2025 | Brandes International Equity Fund | 10.4% | 22.3% | BABA, RR/ LN, SAN FP, STMPA FP | currencies, diversification, fundamentals, international, Valuation gap | The letter underscores attractive valuations outside the U.S. driven by currency weakness and pessimism. Management favors fundamentally strong international businesses trading at discounts to intrinsic value. International equities are positioned as a source of diversification and return potential. | View | |
| 2025 Q2 | Jul 22, 2025 | Harris Associates International Equity Strategy | 12.8% | 21.7% | 105560 KS, 6273 JP, ASML, ASRNL NA, BABA, BAYN GR, CON GR, MC FP, WLN FP | Balance Sheets, currency effects, International Value, Sentiment, Valuation Discount | The letter highlights international equities as a fertile hunting ground for value opportunities due to persistent investor pessimism and currency-adjusted discounts. Management focuses on globally competitive companies trading below intrinsic value because of temporary macro or sentiment-driven headwinds. A long-term horizon and balance-sheet strength underpin the return outlook. | 6273 JP ASML MC FP BABA BAYN GR CON GR 105560 KS |
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| 2025 Q2 | Jul 22, 2025 | Nightview Capital | - | - | AMZN, BABA, LVS, TSLA, WYNN, XPEV | Artificial Intelligence, Automation, Autonomy, productivity, Robotics | The letter outlines three dominant secular themes shaping the coming decade: Chinese technological resurgence, autonomous transportation, and intelligent automation. Management views artificial intelligence as a general-purpose technology comparable to electricity, with exponential rather than linear economic impact. The portfolio is positioned to benefit from robotics, autonomy, and AI infrastructure as these forces reshape productivity, margins, and market leadership globally. | 9868 HK AMZN TSLA BABA US LVS WYNN |
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| 2023 Q1 | Apr 4, 2023 | JB Global Capital Fund | 11.8% | 11.8% | BABA | - | View | ||
| 2025 Q4 | Mar 10, 2026 | Peterson Investment Fund | - | - | BABA, BRK.B, DJCO, GOOG, NPSNY | AI, Capital Allocation, China, Compounding, Concentration, technology, Value Investing | AI is viewed as economically consequential and transformative, improving product quality and expanding monetizable surfaces across platforms like Alphabet's ecosystem. However, adoption is constrained by computing economics, implementation friction, and infrastructure limits. The manager emphasizes that profits will accrue where unit economics are defensible and workflow integration is structural. Google Cloud is highlighted as scaling into enterprise infrastructure with improving profitability and durable growth potential. The manager tracks Cloud for margin expansion and conversion of contracted demand into revenue, viewing it as a key component of Alphabet's multi-platform compounding story. Share repurchases are emphasized as a key capital allocation tool across multiple holdings. Alibaba returned $12 billion in buybacks reducing share count by 5%, while Naspers' buyback program has reduced free float by 28% and driven NAV accretion. The manager evaluates buybacks based on accretion to per-share intrinsic value. Alibaba is positioned as a structural toll bridge inside digital commerce where merchant supply, consumer demand, and logistics throughput reinforce each other. The manager focuses on scale-based unit economics and market share stability in core commerce platforms. | View | |
| 2025 Q4 | Feb 9, 2026 | Loomis Sayles Global Growth Fund | -3.1% | 17.6% | 6954.T, AMZN, BA, BABA, GOOGL, MELI, META, MSFT, NFLX, NKE, NVO, ORCL, QCOM, RACE, SHOP.TO, TSLA, UAA, UL | AI, Automation, Cloud, global, growth, Quality, Streaming, technology | AI investments are driving significant growth across portfolio companies. Alphabet benefits from AI overviews in 40 languages with 2 billion monthly users and AI Mode with 75 million daily users. Google's AI investments contribute to faster query growth and improved monetization. Oracle's cloud infrastructure business is built for AI workloads, targeting over $100 billion in revenue by 2029. Fanuc is partnering with Nvidia to embed physical AI into industrial robots and create digital twins for virtual factory optimization. Cloud computing represents a major growth driver across multiple holdings. Google Cloud accelerated growth to 34% year-over-year, representing 15% of total Alphabet revenue. Oracle's cloud transition from on-premise to subscription model is driving faster growth with substantial RPO backlog of $523 billion. The company targets over $100 billion in OCI revenue by 2029. Shopify's cloud-based platform enables merchants to manage retail operations globally. E-commerce growth remains strong across Latin America and globally. Shopify reported 32% revenue growth with $92 billion GMV, gaining market share and expanding merchant solutions. MercadoLibre continues to dominate Latin American e-commerce with 49% revenue growth, expanding product categories and deepening selection. The company benefits from lower e-commerce penetration rates in Latin America versus other regions. Streaming entertainment continues secular growth from linear television shift. Netflix reported 17% revenue growth driven by higher subscriptions and pricing, with share of TV viewing growing 15% in US and 22% in UK since 2022. The company completed rollout of internal ad tech platform and targets doubling advertising revenue in 2025. Netflix's proposed $82.7 billion acquisition of Warner Bros. would expand content scale and intellectual property portfolio. Factory automation benefits from rising labor costs and falling automation costs globally. Fanuc reported 9% revenue growth with strong robot segment performance, driven by EV industry demand in China and US manufacturing activity. The company maintains 50% market share in factory automation and is partnering with Nvidia to embed AI into industrial robots. Rising labor costs across manufacturing countries support long-term secular demand growth. | MELI NFLX ORCL 6954 JP SHOP GOOG |
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| 2025 Q4 | Feb 8, 2026 | SGA – Global Growth | -0.3% | 3.1% | 1299.HK, 9983.T, ADYEN.AS, ALC, AMZN, AON, ARM, AVGO, BABA, CMG, CP, CRM, DHR, EXPN.L, GOOGL, HDB, INFY, INTU, IT, MELI, META, MSFT, NFLX, NOW, NVDA, SAP, SE, SNPS, SPGI, STE, TSM, UMG.AS, UNH, V, WM | AI, cyclicals, global, growth, Quality, valuation | AI capital expenditure growth is expected to moderate due to structural constraints including power availability, skilled labor shortages, and capital availability limits. Hyperscalers are approaching 90% of operating cash flows for CapEx spending, creating natural constraints on future growth rates. Quality factors including sales stability and high gross margins continued to underperform in 2025 as markets favored cyclical and momentum-driven assets. The portfolio's quality growth companies are trading at historically attractive relative valuations. Market leadership was dominated by momentum and cyclical assets while quality growth strategies faced headwinds. Extreme concentration and momentum effects created significant winners and losers independent of company fundamentals. | INFY NOW ARM MELI MSFT SE NFLX AVGO 9983 JP TSM GOOG |
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| 2025 Q4 | Feb 8, 2026 | SGA – International Growth | 1.0% | 9.6% | 1299.HK, 6098.T, 9983.T, ADYEN.AS, ALC, AON, ARM, BABA, CP, DSY.PA, EXPN.L, FEMSAUBD.MX, GALD, GRAB, HDFCBANK.NS, HEIA.AS, HLN.L, INFY, LIN, MELI, OR.PA, SAP, SE, SGE.L, SHOP, SRT3.DE, STE, TEAM, TSM, UL, UMG.AS, WALMEX.MX, WCN, YUMC | AI, Cyclical, E-Commerce, growth, international, Quality, Southeast Asia, valuation | SGA continues to believe the most attractive long-term AI opportunities reside with businesses building long-term value through proprietary data and integrated workflows. The portfolio is positioned to capture AI value through companies providing essential intellectual property and manufacturing capability for the AI ecosystem, including TSMC, Arm Holdings, SAP, and Dassault Systemes. The portfolio focuses on high-conviction quality growth businesses anticipated to achieve consistent mid-teens earnings growth with reduced variability. Despite market headwinds favoring cyclical assets, SGA maintains conviction in quality companies with predictable revenue and cash flow generation that should become more sought after if market volatility increases. New positions were established in Sea Limited and Grab Holdings, both Southeast Asian consumer internet companies with integrated ecosystems. Sea operates Shopee e-commerce platform with integrated payments and logistics, while Grab provides super-app services for ride-hailing, food delivery, and digital payments across Southeast Asia. | TEAM ARM DSY FP SRT GR 9983 JP |
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| 2025 Q4 | Feb 8, 2026 | SGA – Emerging Markets Growth | 0.6% | 22.8% | 035420.KS, 0700.HK, 1299.HK, 1398.HK, 9983.T, BABA, BJFN, CPALL.BK, CPI.JO, FEMSA, GRAB, HDFCBANK.NS, HTHT, INFY, MELI, MMYT, OR.PA, SE, SLM.JO, TCS.NS, TME, TOTS3.SA, TSM, UL, WALMEX.MX, XP, YUMC | AI, Cyclical, E-Commerce, emerging markets, Quality, semiconductors, valuation | The rapid acceleration in artificial intelligence has been a key catalyst behind the recent cyclical resurgence across emerging markets. Large-scale capital expenditure by global hyperscalers has driven sharp increases in demand for semiconductors and data-center infrastructure. However, SGA believes the current trend of AI CapEx growth is unsustainable and has largely run its course due to structural constraints in power availability, skilled labor, and capital availability. Several investments in e-commerce leaders across Asia and Latin America, including MercadoLibre, Sea Limited and Alibaba, faced a more competitive operating environment during the period. As long-term investors, SGA observes that competitive intensity in these markets tends to ebb and flow over shorter time horizons, with market leaders typically emerging from such periods with strengthened strategic positions given inherent network effects. The portfolio's underweight to South Korean semiconductor companies, including Samsung Electronics and SK Hynix, was a key driver of relative underperformance. These stocks continued to benefit from strong AI-related memory demand and elevated investor enthusiasm. Memory chips are largely a commoditized product with weak pricing power, extreme capital intensity and pronounced boom-bust cycles that lead to volatile earnings. SGA sees worrying signs of excess and weakening lending discipline from credit markets. The scale of capital required has led to greater reliance on private credit markets and off-balance-sheet structures. Transactions such as Meta's $27 billion joint venture with Blue Owl Capital highlight both the availability of capital and the risk of excess. The sustained focus on cyclicality and momentum has driven the quality factor to historically depressed relative levels. The valuation premium for high-quality stocks has compressed to levels typically observed only during periods of crisis. SGA remains committed to businesses with pricing power, recurring revenues, and strong balance sheets - attributes that may be underappreciated in today's momentum-driven market. | OR FP TME GRAB SE BABA 9983 JP INFY TSM |
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| 2025 Q4 | Feb 8, 2026 | BlackRock Global Dividend Fund | 2.2% | 19.3% | 000001.SZ, 000660.KS, AAPL, ALVY.DE, AVGO, AZN, BABA, CMS, GOOGL, KO, MSFT, REL.L, SONY, TSM | dividends, Europe, financials, global, healthcare, Quality, technology | AI infrastructure demand remains strong, supporting memory companies like SK Hynix. However, AI concerns are creating headwinds for some businesses like RELX, where sentiment remains cautious about AI's potential impact on parts of their operations. The fund focuses on carefully selected quality companies with strong dividend growth potential. The strategy aims to provide dividend growth and consistent returns with lower volatility over the long-term through high-quality, dividend-paying companies. | FBK IM |
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| 2025 Q4 | Feb 5, 2026 | Stewart Investors | 0.0% | 0.0% | 005930.KS, 0700.HK, 2379.TW, 2454.TW, 6503.T, ALC, BABA, BAJAJHLDNG.NS, BAP, BOSCHLTD.NS, CARTRADE.NS, CTAS, KEI.NS, KOTAK.NS, M&M.NS, NU, PRX.AS, QUAL3.MX, SE, TARSONS.NS, TECHM.NS, TOTVS3.SA, TSM, TUBEINVEST.NS, WEG3.SA | AI, Asia, China, emerging markets, India, long-term, Quality, semiconductors | The team maintains a conservative approach to AI-driven market themes, avoiding flavour-of-the-month AI investments while selectively benefiting from AI demand through quality holdings like Samsung and TSMC. They emphasize disciplined AI capex spending and focus on companies with sustainable competitive advantages rather than chasing AI hype. The team is adding to Chinese holdings where they find leading businesses with strong competitive advantages and attractive growth at reasonable valuations, particularly Tencent. They view China as offering better opportunities despite some headwinds in specific sectors like property and chemicals. The team is reducing exposure to India, mainly in cyclical businesses where valuations are expensive and growth outlook has deteriorated. However, they remain excited about high-quality Indian companies positioned to benefit from structural tailwinds including urbanization, demographics, and digital infrastructure. Semiconductor holdings like Samsung and TSMC are key contributors, benefiting from AI-related demand for memory chips and leading-edge processors. The team focuses on companies with strong competitive positions and visibility into future earnings growth through 2026-2027. The investment philosophy centers on identifying quality companies with exceptional cultures, strong franchises, resilient financials, and sustainable competitive advantages. The team seeks companies that can deliver attractive returns over much longer periods than the market expects. The team is optimistic about emerging market opportunities, noting that the global economy is increasingly being led by emerging markets. They see attractive valuations compared to developed markets and expect this trend to accelerate as investors seek alternatives to US markets. | View | |
| 2025 Q4 | Feb 20, 2026 | Tall Oak Capital Advisors | 0.0% | 0.0% | AAPL, AEM, ANET, AVGO, BABA, CCJ, CNQ.TO, EDV, EQT, GEV, GOOGL, MELI, MRK, MS, MSFT, NRG, PAAS, PANW, PH, SHOP.TO | AI, Automation, Critical Minerals, diversification, Energy Transition, Industrial Policy, Supply Chain, technology | Industrial automation has become a strategic necessity rather than a cost optimization tool in a multipolar world. FANUC exemplifies this trend as a global leader in factory robots and CNC systems that support re-shoring and friend-shoring while maintaining productivity. The company's technology underpins manufacturing across automotive, electronics, semiconductors, and precision machinery with systems that remain in place for decades. Materials have re-emerged as strategically important rather than purely cyclical as supply chains are re-engineered and infrastructure investment accelerates. Holdings like Pan American Silver and Southern Copper provide exposure to precious metals and copper demand driven by electrification, grid expansion, electric vehicles, and data-centre infrastructure. Supply growth remains constrained by long development timelines while demand continues rising. AI-related stocks remained a key market driver with companies most directly tied to AI infrastructure and monetization delivering the strongest results. The Magnificent Seven continued to dominate markets, accounting for roughly half of the S&P 500's total return. Capital investment remained elevated with spending concentrated in data centres, semiconductors, energy infrastructure, and automation. Governments and corporations are prioritizing re-shoring and friend-shoring, placing greater emphasis on supply-chain resilience across technology, manufacturing, energy infrastructure, and critical minerals. Rather than reversing globalization, supply chains are being re-engineered around strategic alignment and political reliability. This shift is influencing how and where capital is deployed globally. The transition toward renewable energy and electrification continues to drive investment in grid expansion, energy storage, and power infrastructure. Holdings like GE Vernova benefit from rising power and infrastructure demands tied to AI and electrification. Energy has become a strategic asset to fuel the growth of AI and support industrial competitiveness through low, stable energy costs. | View | |
| 2025 Q4 | Feb 10, 2026 | PRESCIENT GLOBAL FUNDS ICAV – Fairtree Global Equity Fund | 1.7% | - | 6723.T, AAPL, ADP, AMAT, AMZN, BABA, ELV, EVO.ST, FI, GOOGL, HAR.JO, IMP.JO, MC.PA, META, MSFT, NPN.JO, NVDA, PDD, PM, TSM | AI, emerging markets, global, rates, semiconductors, technology | AI-related stocks continued to show strength, with mega-cap technology and AI-related names benefiting early in the quarter. South Korean equities gained from improving sentiment around the global electronics and AI cycle, while semiconductor stocks maintained momentum. Semiconductor stocks performed well, particularly in South Korea where they benefited from improving sentiment around the global electronics and AI cycle. TSMC was a notable contributor to fund performance. The Federal Reserve delivered a further 50bp rate cut over the quarter, lowering the federal funds target range to 3.50%-3.75%. Lower global interest rates supported South African equities and contributed to improving macro conditions. | View | |
| 2025 Q4 | Dec 31, 2025 | Fortress – Fixed Income Fund | 0.6% | 5.5% | 005930.KS, 0700.HK, 1288.HK, 1585.HK, 1878.T, 2318.HK, 392.HK, 3968.HK, 6920.T, 8035.T, 916.HK, ACN, AMAT, AXP, BABA, BBDO, BNZL.L, BRK.B, BTI, CHTR, FMC, GMEXICOB.MX, GRMN, HSY, ITUB, IX, JNJ, LOGI, MC.PA, MRK, NTES, NVO, ORLY, PDD, PHM, ROG.SW, SBS, SNA, TSM, UNH, VALE, VRTX, WKL | AI, Bonds, emerging markets, healthcare, international, technology, Trade Policy, value | Artificial intelligence remained the primary focus for investors in U.S. markets, driving strength in technology names while masking moderation in other economic areas. The AI investment boom continued to power corporate capital expenditures and supply growth, though consumer confidence readings suggest potential underlying softness that could emerge if AI investment moderates. The manager sees excellent value opportunities globally, particularly in international and emerging markets despite strong recent performance. U.S. healthcare and consumer staples have been left behind by the AI frenzy and trade at appealing valuations. Portfolio companies show attractive price/earnings ratios with meaningful long-term return potential. Recent tariff policies continued to negatively impact U.S. consumers and companies throughout the year. However, international companies have been finding new trade arrangements and growth opportunities, benefiting from shifts in global trade patterns as the new U.S. administration alters terms of international cooperation. | View | |
| 2023 Q4 | Dec 31, 2023 | Aquamarine Fund | - | 18.7% | 1211 HK, AAPL, AMZN, AXP, BABA, BAC, BARK/A, CRISIL IN, GOOG, MA, META, MSFT, RACE IM, SRG | - | View | ||
| 2021 Q4 | Dec 31, 2021 | Magellan Global Fund | - | 10.8% | BABA, MSFT, NFLX | - | View | ||
| 2025 Q3 | Nov 3, 2025 | BlackRock Global Dividend Fund | 6.7% | 16.5% | BABA, NVO | AI, Cloud, consumer, dividends, Quality | BlackRock Global Dividend Fund emphasizes quality dividend growers across global markets with selective AI exposure. Key contributors included Alibaba, Broadcom, and Oracle, while Novo Nordisk and Colgate detracted. Management remains optimistic on AI infrastructure and defensive consumer names, favoring resilient earnings and diversified sector exposure. | CL NOVO ORCL AVGO BABA ORCL AVGO BABA |
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| 2025 Q3 | Nov 17, 2025 | Tall Oak Capital Advisors | - | - | ASML, BABA | AI, Automation, Cloud, Robotics, semiconductors | The thematic highlight centers on humanoid robotics and AI enablement, identifying it as a transformative long-term industrial shift. Advances in hardware, sensors, and vision-language-action models support rapid commercialization across logistics, healthcare, and manufacturing. AI enablementvia semiconductors, robotics components, and cloud infrastructureremains a major structural growth theme with multi-decade potential. | TW META MSFT GS JPM NVDA ASML NA BABA US |
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| 2025 Q3 | Oct 7, 2025 | Oldfield Partners Overstone Global Large Cap | 5.8% | 26.7% | 005930 KS, 1 HK, BABA, EZJ, HEIA NA | Artificial Intelligence, contrarian, Global Equities, valuation, Value Investing | The strategy focuses on global large-cap value stocks trading at discounts to intrinsic value due to cyclical pessimism and macro uncertainty. Oldfield highlights balance-sheet strength and earnings resilience as markets overly reward growth narratives. Value investing remains compelling as valuation discipline and mean reversion assert themselves. | CKHUY US BABA US 005930 KS |
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| 2025 Q3 | Oct 28, 2025 | Baron Emerging Markets Fund | 10.9% | 31.5% | 0TDG LN, 1024 HK, 700 HK, BABA, BHE IN, GDS, INDUSTOW IN, INPST NA, TRENT IN, TSM | Artificial Intelligence, China, Data centers, emerging markets, India | The fund outperformed its benchmark as AI infrastructure buildouts and global easing cycles fueled emerging market gains. Managers highlighted Chinas growing AI ecosystem and leadership in EVs, robotics, and cloud infrastructure, noting parallels with the U.S. hyperscaler boom. India remains a core conviction, with expected earnings upgrades driven by government capex, tax reform, and easing monetary policy, despite temporary headwinds from tariffs. | View | |
| 2025 Q3 | Oct 28, 2025 | Harris Associates International Equity Strategy | 4.1% | 26.7% | AMV0 GR, BABA, BNZL LN, CNH, DSV DC, DSY FP, EDEN FP, GLEN LN, HEX NO, ITRK LN, KER FP, SHL GR | AI, commodities, Global Equities, industrials, Value Investing | The fund emphasized opportunities in undervalued international equities, noting strong contributions from Kering, Alibaba, and Glencore. Management highlighted AI as a structural growth driver, especially in China, with firms like Alibaba leveraging AI cloud capabilities. Industrials and commodities exposure, including Glencore and CNH Industrial, benefited from cyclical recovery and supportive copper market trends. | GLEN LN BABA GLEN LN BABA |
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| 2025 Q3 | Oct 24, 2025 | Diamond Hill International | 6.5% | 23.6% | BABA, HDB, HIK LN, ITUB4 BZ, KRN GR, SGX SP, TSM, WISE LN | AI, emerging markets, gold, Governance, Japan | The fund benefited from Asia-led gains and emphasizes opportunities in Japans governance reforms, AI-linked semiconductors, and select emerging market banks. Managers added exposure to gold producers as a hedge against political risk and inflation. They maintain focus on intrinsic value and capital discipline amid shifting trade and tariff dynamics. | HIK FRAN TSM |
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| 2025 Q3 | Oct 24, 2025 | American Century Emerging Markets Fund | 12.4% | - | 1810 HK, 2308 TT, 300308 CH, 3311 HK, 388 HK, 688008 CH, BABA, BYD, CICIBC IN | AI, China, emerging markets, interest rates, Trade Policy | EM equities outperformed developed markets amid easing trade tensions, AI-driven growth, and expectations of Fed rate cuts. China led gains due to policy support for chipmakers and domestic demand recovery. EM valuations remain attractive with higher earnings growth potential and sensitivity to a weaker USD. | 688008 CH 2308 TT 688008 CH 2308 TT |
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| 2025 Q3 | Oct 23, 2025 | JDP Capital | 12.8% | 31.8% | 300750 CH, BABA, CZR, SPOT, TCEHY | AI, Automation, compute, Platforms, productivity | The letter argues that declining compute costs and rapid model improvement are accelerating AI adoption beyond large incumbents. AI is reshaping competitive dynamics across logistics, consumer platforms, and automation by compressing costs and expanding addressable markets. AI remains a powerful secular theme as productivity gains compound faster than traditional growth drivers. | CZR TCEHY BABA 300750 CH SPOT |
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| 2025 Q3 | Oct 22, 2025 | WestEnd Capital | 3.9% | 13.2% | AMD, BABA, BIDU, SNOW | Artificial Intelligence Infrastructure, Enterprise AI, Global Technology Platforms, Mega-Cap Leadership, Semiconductor Competition | Equity markets rallied with leadership concentrated in profitable mega-cap technology firms exhibiting superior ROE and margin profiles relative to prior concentration cycles :contentReference[oaicite:3]{index=3}. WestEnd broadened its AI exposure to catch-up trades such as AMD, Alibaba, and Baidu while maintaining core positions in hyperscalers and enterprise data platforms like Snowflake. The portfolio balances Technology dominance with Industrials and International diversification, focusing on durable AI infrastructure, autonomous systems, and global digital transformation. | BIDU BABA SNOW AMD |
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| 2024 Q3 | Oct 2, 2024 | JB Global Capital Fund | 34.9% | 43.0% | BABA, NVDA | - | View | ||
| 2025 Q3 | Oct 19, 2025 | Harding Loevner Emerging Markets Equity | 11.6% | 24.4% | 688188 CH, BABA, CATL, GLOB | AI, Automation, China, E-Commerce, emerging markets | Chinese equities rebounded sharply on AI investment and restructuring at Alibaba, while Indias MakeMyTrip and Taiwans Delta Electronics led sector gains. Policymakers efforts to curb deflation and supply excess supported stabilization. The fund highlighted durable growth drivers in automation, e-commerce, and travel platforms. | View | |
| 2025 Q3 | Oct 19, 2025 | Artisan International Fund | 5.0% | 34.0% | 079550 KS, 300750 CH, A012450 KS, BABA, CRH, GALD SW, TCEHY, UCB | aerospace, defense, Electrification, Energy Storage, financials | Electrification is a central theme driven by EV demand, AI power needs, and grid expansion, benefiting holdings like CATL and Korea Electric Power. Rising global defense budgets support companies such as Hanwha Aerospace and LIG Nex1. Financial holdings like UBS and Lloyds gain from restructuring, dividends, and buybacks amid steady capital markets. | 3750 HK 012450 KS UBSG SW UCB BB |
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| 2025 Q3 | Oct 17, 2025 | Hosking Partners | 3.4% | 6.1% | BABA, SAGA LN | AI, commodities, Copper, Mining, Platinum | Hosking Partners emphasizes a broadening global equity market, favoring value opportunities in underinvested sectors like mining, metals, and energy. It contrasts speculative excess in U.S. AI mega caps with capital scarcity in physical asset industries, highlighting platinum, copper, and coal as key beneficiaries of supply-demand imbalances. The firm maintains contrarian positions in Japan, China, and emerging markets as global capital rotates away from U.S. concentration. | SAGA LN FCX US |
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| 2025 Q3 | Oct 16, 2025 | Peterson Investment Fund | 47.4% | 67.5% | BABA | Alibaba, Artificial Intelligence, Compounding, Structured Value, Value Investing | Peterson emphasizes its long-term, concentrated value-investing approach, supported by an in-house AI research platform, VeritasAlpha, which accelerates fundamental analysis of U.S. public companies. The funds major gains were driven by large holdings like Alibaba and Alphabet, using structured value techniques and options to enhance returns. Peterson sees AI as a structural advantage for research efficiency and capital deployment in compounding strategies. | BABA |
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| 2025 Q3 | Oct 16, 2025 | Platinum International Fund | 9.0% | - | ASML, BABA, IQV, TSM | Artificial Intelligence, China, healthcare, semiconductors, technology | The funds outperformance stemmed from AI-related semiconductor holdings and a rebound in healthcare names after regulatory clarity. It highlights balanced positioning between the U.S. and China, with Chinese tech valuations remaining attractive. Platinum expects sustained AI investment and normalization in pharmaceutical research spending to drive multi-sector growth. | TSM |
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| 2025 Q3 | Oct 16, 2025 | Platinum Global Fund (Long Only) | 10.0% | - | ASML, BABA, IQV, TSM | Artificial Intelligence, China, consumer, semiconductors, technology | The fund attributes outperformance to AI-driven semiconductor exposure and recovery in Chinese equities. It sees continued momentum in global technology leaders like TSMC, ASML, and Micron, alongside selective opportunities in undervalued Chinese tech firms. Platinum remains constructive on AI investment while emphasizing balanced exposure between U.S. and China as AI and consumer trends converge. | IQV UN |
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| 2025 Q3 | Oct 13, 2025 | The Baird Chautauqua International Growth Fund | 5.2% | 19.0% | 6160 HK, ADYEN NA, BABA, CSU, GMAB, TCS IN | Artificial Intelligence, emerging markets, Global Growth, healthcare, valuation | The fund reports moderate returns driven by resilient performance in technology and consumer sectors, while maintaining exposure to long-term structural growth themes in AI adoption and healthcare innovation. Managers emphasize disciplined valuation and high-quality companies across Europe and Asia despite macro uncertainty. | View | |
| 2025 Q3 | Oct 13, 2025 | The Baird Chautauqua Global Growth Fund | 6.8% | 17.2% | 6160 JP, ADYEN NA, BABA, CSU, MU, NVO CN | Artificial Intelligence, China, healthcare, technology, Trade tariffs | Global equities rallied as tariffs eased and monetary policy loosened. The fund remains focused on secular growth areas such as AI, digital transformation, and healthcare, while overweighting Chinese holdings aligned with domestic consumption and innovation. Trade normalization and selective growth exposure drive strategy. | BABA |
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| 2025 Q3 | Oct 10, 2025 | Oakmark Global Select Fund | 3.4% | 17.3% | BABA, CHTR, DSY FP | AI, Broadband, Cloud, innovation, Virtual Twin | The letter highlights selective exposure to global technology and communication firms such as Alibaba and Charter, emphasizing AI-led growth and virtual twin software as durable innovation areas. It notes temporary headwinds in broadband but long-term compounding opportunities from digital platforms and infrastructure. | View | |
| 2025 Q3 | Oct 10, 2025 | INN8 | - | - | BABA, ORCL, PRX NA | AI, Complacency, risk, Sentiment, Valuations | INN8 warns that global equity markets reflect rising complacency as valuations stretch despite unresolved economic and geopolitical risks. The letter highlights euphoric sentiment around technology and AI spending, even as stagflation, tariffs, and fiscal stress loom. Complacency is investable as a contrarian signal shaping cautious positioning and selective risk-taking. | View | |
| 2025 Q3 | Oct 1, 2025 | JB Global Capital Fund | - | - | BABA, LULU | AI, Alibaba, China, consumer, technology | JB Global Capital centers its outlook on macroeconomic regime shifts, with particular focus on inflation persistence, rates volatility, and geopolitical fragmentation. The fund positions across asset classes to benefit from policy divergence and cyclical turning points rather than single-stock outcomes. Macro remains investable as cross-asset correlations break down and policy uncertainty drives relative-value opportunities. | LULU US BABA US |
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| 2025 Q4 | Jan 7, 2026 | Packer & Co | - | 21.5% | 0001.HK, AQN, BABA, BIDU, CA.PA, CEO, CNC, GSK, J36.SI, NE, NXE, PBR, PRX.AS, PYPL, SDRL, VAL, VIPS | AI, Asia, Cash, Defensive, energy, gold, value | The AI boom has driven global stock markets with the Bloomberg AI index up 250% in three years, becoming a core driver of US economic growth. However, the manager draws parallels to the Dotcom bubble, noting over $3 trillion expected investment despite negligible revenue generation and intense competition that may destroy profitability. Gold was the Trust's largest investment and performed exceptionally well, rising 52% for the year. The manager maintains significant gold exposure as part of their defensive positioning amid market uncertainties and elevated valuations. The manager continues to find attractive value opportunities despite expensive markets, purchasing undervalued companies like Centene, GlaxoSmithKline, Carrefour and PayPal trading at low multiples with strong fundamentals. | CA FP |
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| 2025 Q4 | Jan 6, 2026 | Tapasya Investment Fund | 0.0% | 23.5% | 0700.HK, ADBE, ADYEN.AS, BABA, BLDR, CMG, CVNA, FNMA, GLBE, GOOG, IBKR, LULU, PRX.AS, UMG.AS | AI, Concentration, global, Homebuilders, long-term, Quality, technology, value | The manager extensively discusses whether we are in an AI bubble, noting that AI appears to be the most significant digital disruptor of our lifetime. While acknowledging extremely stretched valuations in AI-associated hardware and semiconductors, the fund avoids these sectors due to inability to forecast cash flows confidently. The fund employs value-based investing principles, focusing on concentrated investments in high-quality businesses at fair valuations. The manager notes they often underperform during periods of extreme sectoral valuation surges but expects long-term success from this approach. The anticipated recovery in the homebuilder sector has stalled due to persistent affordability issues driven by high home prices, despite lower interest rates and strong wages. The fund maintains conviction in Builder FirstSource despite the housing market recession. | View | |
| 2025 Q4 | Jan 6, 2026 | JB Global Capital Fund | -8.9% | 67.5% | AMZN, BABA, CLX, GOOGL, LULU, NKE, NVDA | AI, China, Concentration, consumer, technology, valuation, value | Manager deliberately avoids U.S. AI infrastructure stocks due to valuation concerns, drawing parallels to historical technology bubbles. Argues that obvious growth prospects are priced so aggressively that even excellent execution cannot generate adequate returns. Maintains AI exposure through Alibaba's cloud division at more reasonable valuations. Significant exposure through Alibaba position, which represents 43% of portfolio. Monitoring competitive pressures in Chinese quick commerce and margin compression from aggressive investments. Cloud revenue growing 34% year-over-year with AI-related products showing triple-digit growth. New position in Clorox at decade-low valuations following ERP implementation disaster. Company dominates essential categories with 61% of North American bleach market and generates 35%+ returns on invested capital. Temporary operational disruption creates opportunity in quality franchise. Core investment philosophy emphasizing valuation discipline over growth narratives. Seeking asymmetric risk/reward opportunities where temporary complexity obscures underlying business quality. Concentrated portfolio approach with deep research on handful of ideas. | CLX BABA |
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| 2025 Q4 | Jan 6, 2026 | The Baird Chautauqua International Growth Fund | 0.1% | 19.2% | 2269.HK, 6098.T, 6954.T, ASML, BABA, BEKE, BEPC, CSU.TO, D05.SI, FFH.TO, GALDA.SW, GOOGL, INCY, LULU, MA, MU, PRX.AS, REGN, RYA.L, SCHW, SE, TEAM, TEMN.SW, TJX | AI, Automation, China, growth, international, semiconductors, Trade Policy, value | AI-related infrastructure demand drove commodities rally and memory semiconductors delivered outsized returns as high-bandwidth memory demand for AI datacenters rewarded players in that consolidated industry. Fanuc showcased significant advancements in AI-enabled robotics with commercialization potentially arriving in coming years. Significant de-escalation in U.S.-China trade tensions with Presidents Trump and Xi reaching agreement in October. U.S. reduced fentanyl-related tariffs and extended suspension of reciprocal tariffs for one year. Average effective U.S. tariff rate remains elevated at 17% compared to 2-3% at end of 2024. Economic data remained mixed despite trade war stabilization. Exports resilient but domestic demand stubbornly weak. Property sector downturn continues in fifth year. Policymakers identified raising household incomes as priority for boosting consumption, signaling recognition that economy's reliance on exports has become precarious. Memory semiconductors delivered outsized returns as high-bandwidth memory demand for AI datacenters rewarded players in that consolidated industry. Micron reported strong results with improved pricing in both DRAM and NAND, with demand continuing to outpace supply and management seeing tightness across 2026. Fanuc reported strong robot orders up 38% year-over-year, driven by reshoring-related automation demand in North America, European automation investments, and new energy vehicle spending in China. Company showcased significant advancements in AI-enabled robotics at international robot show. Sea Limited reported strong results with revenue growing 38% and gross merchandise value growing 28%, though Shopee's adjusted EBITDA margin declined sequentially as management signaled preference for growth over near-term margin optimization with ongoing investments in logistics and fulfillment capabilities. | View | |
| 2025 Q4 | Jan 6, 2026 | The Baird Chautauqua Global Growth Fund | 4.2% | 22.1% | 2269.HK, 6098.T, 6954.T, ASML, BABA, BEKE, BEPC, CSU.TO, D05.SI, GALP.SW, GOOGL, INCY, LULU, MA, MU, PRX.AS, REGN, RYA.L, SCHW, SE, TEAM, TEMN.SW, TJX | AI, China, growth, international, rates, semiconductors, Trade Policy, value | AI-related infrastructure demand drove materials and memory semiconductor outperformance. Fanuc showcased significant advancements in AI-enabled robotics with commercialization expected in coming years. Application software and IT services faced pressure on concerns that generative AI could disrupt traditional business models. Significant de-escalation in U.S.-China trade tensions with agreements reducing fentanyl-related tariffs and suspending reciprocal tariffs. Average effective U.S. tariff rate remains elevated at 17% versus 2-3% in 2024. Tariff pass-through to consumer prices has been more muted than initially feared but remains an upside risk to inflation. Chinese exports resilient despite trade tensions, with trade surplus crossing $1 trillion for the first time. Domestic demand remains weak with property sector downturn continuing. Policymakers signaled shift toward boosting household incomes as priority for consumption growth. Memory semiconductors delivered outsized returns as high-bandwidth memory demand for AI datacenters rewarded players in the consolidated industry. Micron reported strong results with improved pricing in both DRAM and NAND, with management seeing supply tightness across 2026. Central bank policy paths diverged with Fed continuing easing, ECB holding steady, and BOJ raising rates to highest level in nearly three decades. Fed faces delicate balancing act between weakening labor market and inflation remaining above target. | View | |
| 2025 Q4 | Jan 30, 2026 | Antipodes Global Value Fund | 0.0% | 0.0% | 005380.KS, 0700.HK, AMD, AMZN, ASAI3.SA, BABA, BEKE, BMRI.JK, CRM, GLOB, Gold, GOOGL, HON, IWG.L, JCI, META, MRK, SIE.DE | consumer, financials, global, healthcare, industrials, materials, technology, value | Portfolio increased exposure to structural investment trends in software while reducing hardware exposure. AMD benefited from landmark agreement with OpenAI for high-performance graphics chips. Meta's AI-driven ad impressions growing at double-digit rates, driving revenue growth. Barrick Mining rose sharply on fresh investor enthusiasm for gold with record bullion prices boosting revenue and margins. Portfolio trimmed gold exposure via Valterra Platinum following rapid price moves and positive sentiment around platinum group metals. Amazon's AWS business re-accelerated growth to 20% year-on-year, the fastest pace in several years, driven by strong demand. Infrastructure and retail businesses both winning market share while valuation hovers around 20-year low. Portfolio rotated to process and industrial automation where greater value is seen. Honeywell positioned as leader in aerospace and industrial automation, focusing on building and process automation after business simplification. Hyundai Motor navigating industry transition to electrification with focus on profitability and capital efficiency. Company prioritizing hybrids over pure battery electric vehicles, aligning with consumer preferences as EV demand has stalled. | BMRI IJ 005380 KS HON IWG LN CRM META AMZN AMD GOOG MRK B BMRI IJ 005380 KS HON CRM AMZN 2423 HK TCEHY STM ASAIY AMD GOOG MRK B |
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| 2025 Q4 | Jan 29, 2026 | abrdn Emerging Markets Fund | 4.6% | 32.0% | 000660.KS, 005930.KS, 028260.KS, 0700.HK, 267270.KS, ADIB.AD, ALDAR.AD, ASX.TW, BABA, BBNI.JK, GMEXICOB.MX, KAP.L, MULT3.SA, RIO, TLKM.JK, TSM | AI, China, Copper, emerging markets, Memory, semiconductors, technology, Trade Policy | AI-driven tech rally continued in Taiwan, lifting local tech stocks at the epicenter of US AI infrastructure buildout. Memory chip producers benefited from confirmed chip shortages and price increases for DRAM and HBM chips. AI delivery has become a critical component of the US economy, with Beijing expected to build a rival AI ecosystem. Technology stocks rallied driven by semiconductors, specifically memory stocks, as confirmed chip shortages resulted in noticeable price increases for DRAM and HBM chips. This proved particularly beneficial for South Korean heavyweights and leading memory chip producers like SK Hynix and Samsung Electronics. China and Hong Kong were detractors as markets sold off amid softer growth and underwhelming government response. Despite deflation concerns, southbound flows have accelerated in 2025, suggesting greater risk appetite among Chinese investors that could drive a wealth effect supporting consumption. Trump's tariffs suggest goals of shifting manufacturing and raising revenue for tax cuts are prime. Market consensus sees a move towards breakdown in China-US trade, though pace and extent of decoupling remain uncertain. Trump has extended tariff pressure to India and Brazil, but agreements to reduce tariffs are expected. Copper miner Grupo Mexico rallied on rising copper demand driven by electrification and data center growth. The miner, with access to low-cost reserves, remains a long-term beneficiary. Copper and other minerals have gained from AI infrastructure development and energy transition. | View | |
| 2025 Q4 | Jan 29, 2026 | Pzena International Value ADR Strategy | 6.3% | 35.3% | 0027.HK, 2587.T, 6301.T, 6326.T, 6367.T, 6981.T, ABEV, ACN, BABA, BAYRY, CABK.MC, ML.PA, MT, NOK, PUB.PA, VALE | AI, cyclicals, financials, international, materials, value | International value equities benefited from easing trade tensions, improved investor risk appetite, and strong performance across European cyclical sectors. Financials, materials, and selected industrials drove returns as valuation gaps narrowed and earnings expectations improved. The manager continues to exploit market volatility and exaggerated disruption fears, particularly around artificial intelligence, to accumulate high quality international franchises at attractive prices. | VALE ACN 6326 JP |
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| 2025 Q4 | Jan 27, 2026 | Diamond Hill International | 3.9% | 28.4% | 000660.KS, 005930.KS, BABA, EXO.MI, ICON, NWG.L | AI, Asia, Banking, defense, Europe, international, semiconductors, value | Strong performance driven by AI infrastructure demand, particularly in memory chips and foundry services. Taiwan's chip foundry and packaging industries saw robust growth with no signs of slowing in 2026. South Korean memory manufacturers benefited from capacity sold out through 2026 and increased demand for high-bandwidth memory used in data centers and AI applications. Military defense and adjacent firms performed well as governments moved toward greater strategic autonomy from the US, expanding confidence in the sectors' future growth prospects. European defense suppliers benefited from multi-year European rearmament trends. European banks were supported by cheap valuations, improved capital positions and a more normalized interest rate environment, helping drive strong stock performance for the year. UK banks like NatWest benefited from simplified operating models and strong capital return potential. | 000660 KS |
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| 2025 Q4 | Jan 27, 2026 | Baron Emerging Markets Fund | -1.3% | 30.1% | 000660.KS, 005930.KS, 0700.HK, 1024.HK, 300750.SZ, BABA, BAJFINANCE.NS, BAP, BEL.NS, BHARTIARTL.NS, HDFCBANK.NS, NU, RELIANCE.NS, SQM, TSM, ZLAB | AI, Banking, China, emerging markets, geopolitics, India, semiconductors, technology | The fund maintains significant exposure to AI-related investments, particularly through semiconductor companies like TSMC and SK hynix that benefit from AI chip demand. The manager discusses the ongoing AI data center arms race with $550 billion expected to be spent in 2026, while noting some concerns about sustainability of competitive advantages and funding environment. Strong focus on semiconductor investments across Taiwan, Korea, and China, with holdings in TSMC, Samsung Electronics, and SK hynix. The manager believes in long-term growth driven by AI, 5G, automotive, and IoT applications, while noting recent volatility around China semiconductor trade policies. The fund maintains exposure to Chinese technology and e-commerce companies despite fourth quarter volatility. The manager expects improved US-China trade relations and technology flow resumption, believing global investors underestimate China's emerging AI and technology ecosystem capabilities. Large overweight position in India despite flat performance in 2025. The manager believes India is poised for an earnings upgrade cycle supported by infrastructure spending recovery, tax relief, and GST 2.0 implementation, positioning for catch-up with other EM markets. Added positions in South African banks (Absa Group, FirstRand) and Latin American digital banking (Nu Holdings) based on favorable banking cycles, improving loan growth, and digital disruption opportunities in underbanked markets. Investments in sustainability themes including Korean shipbuilding companies (HD Korea Shipbuilding, HD Hyundai Heavy Industries) and energy storage (Contemporary Amperex Technology) that benefit from global decarbonization trends. | NU FSR SJ ABG SJ BABA 005930 KS 000660 KS TSM |
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| 2025 Q4 | Jan 27, 2026 | Polen Capital – International Growth | -2.5% | -0.5% | 0700.HK, 7974.T, 8035.T, ASML, BABA, LONN.SW, MELI, MNDY, SAP, SHL.DE, SHOP, TEP.PA | AI, E-Commerce, gaming, growth, international, Quality, semiconductors, underperformance | AI adoption is transforming the global economy and creating investment opportunities. Advanced chips sit at the epicenter of everything AI related, with ASML's equipment essential to printing advanced logic and volatile memory chips. Markets are attempting to price in these technological shifts, though the transition remains volatile. Semiconductor capital equipment companies continue to benefit from investor optimism around AI. Tokyo Electron benefits from rising demand for more chip volume and more complex chips, driving investment into chip fabrication plants. The company is expected to grow revenues at high single-digit rate while increasing operating margins from 25% to 35% in the medium term. E-commerce platforms face mixed dynamics with growth opportunities offset by competitive pressures. MercadoLibre continues to benefit from low e-commerce penetration in Latin America and maintains 35%+ topline growth in its 26th year. However, Alibaba's profitability in core e-commerce has been pressured by heavy investments to compete in food and grocery delivery. Nintendo's Switch 2 launch marks the beginning of a significant upgrade cycle with potential for elevated growth in both hardware and software over the coming five years. The overall Switch installed base could reach 250 million customers, nearly doubling the customer base capable of downloading gaming titles. The company is expected to grow earnings at 30% annualized for the next few years. The investment approach focuses on businesses with durable competitive advantages, strong returns on capital, and resilient earnings. Quality companies are expected to ultimately outperform the broader market despite current market preference for cyclically sensitive businesses. This quality-focused strategy is especially important when investors embrace risk and cyclicality. | View | |
| 2025 Q4 | Jan 26, 2026 | Harris Associates International Equity Strategy | 4.9% | 32.9% | 005930.KS, 6301.T, AZN, BABA, BAYRY, CNHI, DASTY, DSV.CO, EXO.MI, IMCD.AS, MBG.DE, NVS, SAND.ST, SDR.L, SKF-B.ST, SNY, SY1.DE, UL, WLN.PA | Chemicals, Europe, international, Logistics, Pharmaceuticals, semiconductors, value | The portfolio includes significant pharmaceutical investments including Bayer, AstraZeneca, and Sanofi. Bayer benefited from positive stroke drug trial results and potential Supreme Court hearing on RoundUp litigation. AstraZeneca was added as a new position due to its robust pipeline and attractive valuation following regulatory concerns. Sanofi was initiated based on strong R&D investment and pipeline potential despite vaccine market volatility. Samsung Electronics was a top contributor as earnings recovered due to strength in its core semiconductor business. The company's High Bandwidth Memory product lineup continues to improve under new management, positioning it as one of the world's leading semiconductor companies with a long runway for future growth. DSV was a top contributor during the quarter, delivering solid third-quarter results and accelerating the timeline for DB Schenker acquisition synergies. The freight forwarding business is viewed as high-growth and return-generative, benefiting from an asset-lite model with industry-leading management and profitability. IMCD and Symrise were added as new positions in the specialty chemicals space. IMCD is a global leader in marketing and distribution of specialty chemicals with significant pricing power and demand inelasticity. Symrise leads in flavors, fragrances, and specialty ingredients with renewed focus on profitability and cash flow showing early signs of operational inflection. The manager emphasizes value investing approach, noting that for more than a decade value investing in overseas markets witnessed U.S. growth stocks soar unsustainably. In 2025, they witnessed the unraveling of this paradigm as European equities fundamentals improved and valuation spreads began to narrow, benefiting their value-oriented strategy. | View | |
| 2025 Q4 | Jan 26, 2026 | First Eagle Global Fund | 5.4% | 31.6% | 005930.KS, BA.L, BABA, CHRW, GOOG, GOOGL, META, ORCL, PRX.AS | AI, defense, Geopolitical, global, gold, Resilience, technology | Gold surged 65% during 2025, its largest annual gain since 1979, reflecting acknowledgment of the double-bind facing US policymakers. The price rally has aligned gold with its 50-year geometric average relative to US public debt and brought it closer to its geometric average versus the S&P 500. The fund continues to highly value gold's strategic hedge potential given current fiscal and geopolitical dynamics. Massive spending on AI infrastructure buildout has been a chief tailwind supporting economic and equity market growth. Spending on semiconductor fabrication and data centers has accounted for 0.4% of GDP growth annually since 2022. However, hyperscaler capex as a percentage of cash flow has grown from 20% in 2015 to 70% today, making the current rate of growth unsustainable absent other financing sources. Geopolitical tensions ratcheted up with US military action in Venezuela to remove President Maduro, reflecting broader disequilibrium in the global order. The emergence of the Eurasian heartland with authoritarian powers growing increasingly aligned has increased the possibility of destabilizing left-tail events across the Americas, Europe, and Asia. The fund focuses on building portfolio resilience through equities offering ballast through their lower risk character. This is achieved by evaluating stocks from the bottom up for attributes contributing to low correlations with the broader market, including strong balance sheets, high margins, diverse product lineups, long-lived assets, and contractually obligated revenues. | BA LN BABA META ORCL CHRW 005930 KS GOOG |
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| 2025 Q4 | Jan 23, 2026 | Brandes International Equity Fund | 5.7% | 39.1% | 005930.KS, 1876.HK, 4503.T, 8306.T, BABA, BNP.PA, CX, DGE.L, DPW.DE, EBS.VI, ERJ, GRF.MC, GSK, HEI.DE, KER.PA, MNDI.L, NG.L, ORA.PA, OTEX.TO, RI.PA, TSCO.L, TSM | emerging markets, Europe, international, Outperformance, packaging, Utilities, value | International value stocks continue to trade within the least expensive valuation quartile relative to growth stocks since style indices inception. The valuation gap is evident across multiple metrics including price/earnings, price/cash flow, and enterprise value/sales. Historically, such discount levels often preceded attractive relative returns for value stocks over subsequent three- to five-year periods. Exposure to emerging markets helped returns, led by South Korean Samsung Electronics, Mexico's Cemex, and Erste Group Bank operating across emerging Europe. Leading contributors for the year included emerging market holdings such as Alibaba, Samsung, Taiwan Semiconductor, Brazil's Embraer and Mexico-based Cemex. The portfolio continues to have larger weighting to select emerging markets, particularly Mexico, South Korea, and Brazil. National Grid has strategically repositioned its asset base toward electricity networks, reducing exposure to gas and aligning with long-term energy transition trends. Over the past decade, roughly 75% of its regulated asset base is in electricity, expected to rise to 80% by 2029, supported by structural growth in electrification and renewable integration. The company's position as a critical enabler of decarbonization provides attractive risk-adjusted returns. Mondi is a leading European producer of corrugated packaging, containerboard, kraft paper, and uncoated fine paper with strong presence in Eastern and Western Europe. Secular trends such as sustainability, convenience, and the shift from plastic to paper underpin steady growth in fiber-based packaging. The company's cost leadership, strong positioning in high-barrier-to-entry kraft paper market, and integrated operations provide competitive advantage. | TSCO LN NG LN MNDI LN |
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| 2025 Q4 | Jan 23, 2026 | American Century Emerging Markets Fund | 5.8% | 35.3% | 000660.KS, 005930.KS, 0700.HK, 0939.HK, 1810.HK, BABA, BHARTIARTL.NS, HDFCBANK.NS, NTES, RELIANCE.NS, SUNPHARMA.NS, TSM | AI, Asia, emerging markets, Energy Transition, semiconductors, technology, Trade Policy | Strong technology-related performance supported gains as semiconductor names and other technology-related stocks benefited from robust AI spending and demand. Rising AI workloads have boosted demand for rechargeable batteries, and the firm believes several EM firms possess manufacturing leadership in this sector. Taiwan and South Korea remain essential to global chipmaking. SK Hynix was a top contributor as demand for AI-related memory remained high amid the generative-AI boom and surging data center investment, with quarterly results overwhelmingly powered by surging demand for AI components, especially high bandwidth memory. Many EM offer lower-cost, more readily available power that supports rapid data center build-outs. Rising AI workloads have boosted demand for data center infrastructure, with companies like Zhongji Innolight benefiting from strong demand in cloud computing and 5G infrastructure. U.S. tariffs and trade policy have not been as challenging for EM as investors expected, in part because many markets have adapted well. Some have negotiated more manageable tariff structures with the U.S., while others have focused on non-U.S. relationships. The path of global trade and U.S. policy remains uncertain going forward. HD Hyundai Electric benefited from demand for power transformers, switchgear and smart grid solutions, with U.S. infrastructure investment plans around AI data centers and grid upgrades supporting the stock. The company has been well positioned for global trends around electrification and sustainability. | View | |
| 2025 Q4 | Jan 23, 2026 | American Century International Growth Fund | 0.3% | 15.6% | 6758.T, 6954.T, 7532.T, AI.PA, AIR.PA, ASML, AZN, BABA, BVI.PA, GALDA.SW, GLE.PA, IBE.MC, RACE, REL.L, ROG.SW, SAP, SU.PA | AI, Automation, Europe, international, Japan, large cap, Pharmaceuticals | Artificial intelligence-related market uncertainty drove broad rotation into value and away from growth. While investment in data centers has created optimism, concerns persist about financing, supply chain and power constraints. Investors also continue to consider the impact of AI on traditional business models. Demand for AI-integrated processes and robotics has increased as businesses move to factory automation. Companies are poised to benefit from new applications in industries like agriculture. The fund initiated a position in FANUC, expecting revenue and earnings to accelerate as global automation demand grows. Companies in the pharmaceuticals industry have focused on new products in therapeutic areas with unmet needs, including cancer and skin conditions. These select companies with innovative product pipelines are positioned to benefit from an inflection in growth. The acceleration of digitalization is benefiting technology holdings exposed to cloud computing, automation, digital payments and IT services growth. Japan-based companies, in particular, are investing heavily to increase efficiency and profits as they seek to catch up with their international competitors. | View | |
| 2025 Q4 | Jan 23, 2026 | Alluvium Global Fund | -1.1% | -0.1% | 005930.KS, AN, BABA, CHTR, DKS, GOOGL, GPI, HCA, HRB, LBRDA, LNR.TO, LYB, MCK, RHI, RYAAY, THO, UMG.AS, V | AI, Airlines, global, healthcare, technology, underperformance, value | The fund discusses the rapid adoption of AI technologies, particularly Alphabet's Gemini AI which gained 650 million monthly active users in six months. Questions remain about quantifying efficiency gains and monetary benefits versus the immense capital outlays by providers. Ryanair represents the fund's largest position at 9.4%, benefiting from earlier aircraft deliveries and upgraded traffic expectations. Management expects reasonable net profit growth with strengthening competitive positioning. The fund follows a value-oriented approach, buying more of poorly performing investments as they decline. The managers acknowledge the value investor's curse of buying too early and selling too early, citing examples of premature exits from gold miners and semiconductor companies. | View | |
| 2025 Q4 | Jan 22, 2026 | ABS Global Investment | 0.0% | 0.0% | 0700.HK, 1810.HK, BABA, GME, HIMS | AI, Biotech, Decoupling, Global Markets, Mining, Rate Cuts, small caps, tariffs | AI stocks were among top performers despite high valuations, with momentum overcoming valuation concerns. Chinese DeepSeek caused temporary rotation but recovery was strong due to hyperscaler commitment to increased CAPEX spending. AI boom touched all regions with astronomical gains in memory chips and private LLM companies. Small cap performance varied by region with US Russell 2000 gaining 2.2% in Q4. Speculative stocks reversed significantly after strong Q3. European small caps showed value outperformance driven by lower rates and weakening dollar. Biotech sector gained 29% in Q4 with Russell 2000 Biotech up 75% since June. 2025 marked significant shift from US dominance to non-US strength driven by cheap valuations and tariff impacts. Tariffs triggered rally in domestic-oriented themes like European defense which gained over 100%. Emerging markets shrugged off tariff concerns with many top performers seeing limited impact from substantial tariff increases. Precious metals surge dominated Canadian small caps leading to best year since 2009 with MSCI Canada Small Cap up 54%. Mining stocks contributed two-thirds of index return and represent 43% of index heading into 2026. Australian mining also saw double-digit rally offsetting broad declines elsewhere. | View | |
| 2025 Q4 | Jan 22, 2026 | Sands Capital Emerging Markets Growth Fund | 0.1% | 21.6% | 000660.KS, 005930.KS, 0700.HK, 1211.HK, 122870.KS, 1299.HK, 1810.HK, 2269.HK, 2454.TW, 300750.SZ, 3690.HK, 4966.TW, 500570.BO, 532978.BO, APHS.NS, ASML, BABA, BBCA.JK, CPNG, DIDI, DNP.WA, FPT.VN, FTA, GLOB, GRAB, HDB, HDFCLIFE.NS, HTHT, ICT.PS, KSPI.L, MELI, NU, PHNX.NS, RADL3.SA, SE, TSM, WEGE3.SA, WMMVY | AI, China, E-Commerce, emerging markets, growth, Memory Chips, semiconductors, technology | AI is spreading across industries, reshaping business models and driving market leadership. The firm sees an ongoing AI boom rather than a full bubble, with meaningful exposure in semiconductors and digital advertising while maintaining valuation discipline. Memory chip cycle strengthening fueled by growing AI demand. SK hynix and Samsung are effectively sold out of memory inventory for 2026 with limited capacity in 2027. High-bandwidth memory remains essential for AI servers. Select ecommerce businesses underperformed despite strong fundamentals. Sea, MercadoLibre, and Coupang faced near-term headwinds from increased investment and competitive pressure, but maintain strong long-term positioning. Defense technology entering structural growth phase driven by rising geopolitical risk and convergence of military and commercial innovation. Focus on autonomous systems, space sensing, and secure communications. AI advances pushing robotics forward with near-term opportunities in logistics and warehouse environments. Focus on companies that make robots reliable and economically compelling rather than headline-grabbing names. Energy transition blending with new power demand from data centers and AI, straining grids and forcing aggressive investment in power infrastructure. Multiyear investment cycle expected across entire power value chain. | View | |
| 2025 Q4 | Jan 21, 2026 | Platinum Asia Fund | 5.0% | 24.0% | 000338.SZ, 000660.KS, 005930.KS, 0700.HK, 1024.HK, 1109.HK, 3968.HK, 601318.SS, ASII.JK, BABA, BILI, IGOA.NS, JD, JFC.PS, MWG.HM, PONY, TCOM, TSM, VEI, ZTO | AI, Asia, China, Electric Vehicles, financials, semiconductors, technology | Asian markets driven by unflagging enthusiasm for AI businesses, with tech-heavy South Korea and Taiwan leading. Core semiconductor holdings SK hynix, Samsung Electronics and TSMC were major contributors. AI trade reaching unexpected corners of old economy, with companies like Weichai Power benefiting as inadvertent AI beneficiaries through industrial power generation for datacenters. Chinese financial holdings bounced back as fears of forced property sector support eased. Ping An Insurance and China Merchants Bank performed strongly after Shenzhen government indicated it wouldn't indefinitely bail out developers. This signals financial companies prioritizing their own balance sheets over socializing property sector losses, leading to re-rating of Chinese financials. Introduced position in Chinese autonomous vehicle company Pony AI. Autonomous vehicles are scaling rapidly with improving unit economics - fleet grew from 250 to 1,159 vehicles in 2025. Technology robustness has stepped up, with vehicles now working 24/7 in chaotic Beijing and Shanghai traffic. Fully equipped vehicle costs now under $50,000 with further 40% cost reduction targeted. | PONY 3968 HK 2318 HK 005930 KS 000660 KS TSM |
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| 2025 Q4 | Jan 20, 2026 | Nightview Capital | 0.0% | 0.0% | AMZN, BABA, NITE, TSLA, TSM | AI, Autonomy, China, growth, long-term, Physical AI, semiconductors, technology | AI represents the biggest industrial technological revolution of the 21st century that will fundamentally shift global economic infrastructure. The manager believes AI will transition from screens to physical world applications, creating proprietary data advantages for companies with real-world operations. Progress has been meaningful but largely iterative, with the real boom expected when AI moves beyond LLMs into physical systems. Tesla exemplifies the transition to autonomy as a software business, with Full Self-Driving showing dramatic improvement over the past year. The manager has increasing conviction that Tesla will achieve full autonomy, viewing Tesla's data advantage as structural through every mile driven feeding a learning loop that competitors cannot replicate without similar scale. Amazon's retail operation is transitioning from investment phase to operating leverage, with AI-driven efficiencies falling to the bottom line. The company is improving inventory velocity, reducing costs, and enhancing customer experience while the market perception of low-margin retail remains outdated as scale and AI converge. The semiconductor cycle differs from historical patterns as high-performance computing now represents 60% of TSMC revenue versus 30% in 2018. Frontier logic tied to AI workloads is no longer cyclical demand but the base, with unprecedented capital expenditure underway requiring either sustained AI integration or material overbuilding. Alibaba investment reflects opportunity where fundamentals remain solid despite deeply negative market perception. The business remains central to China's economy with strong positions across e-commerce, cloud, logistics, and infrastructure, while valuation implies little long-term growth despite durable economics. Normalization of financial activity is occurring as the challenging environment from rapid interest rate rises beginning in 2022 adjusts. Trading volumes are increasing, deal pipelines are rebuilding, and pent-up demand is being released as conditions normalize and the yield curve moves toward normalization. Travel and leisure represent change-resistant parts of the economy rooted in deeply human experiences. As AI becomes more embedded in daily life, the desire for physical experiences will intensify, making real experiences more valuable in a world of increasing digital abstraction and fake content creation. | TSM BABA AMZN TSLA |
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| 2025 Q4 | Jan 20, 2026 | Polaris Global Equity | 7.0% | 26.8% | 000270.KS, 000660.KS, 005930.KS, 1299.HK, 2318.HK, 5871.TW, 6758.T, 8001.T, 8002.T, 8591.T, 8729.T, ALSN, ARW, BABA, BARRY.SW, CAP.PA, CG, COF, DHL.DE, IAG.L, INGR, JAZZ, LIN, LNTH, LTM, LUN.TO, MG.TO, MKSI, ML.PA, MPC, NVS, NXT.L, SBH, SMWRQ, TSN, UTHR, VIPS, YAR.OL | AI, diversification, global, international, Outperformance, semiconductors, technology, value | AI demand drove performance across semiconductor and technology sectors, with memory chip suppliers benefiting from supply-demand constraints and expected price increases in 2026. Companies like SK Hynix, Samsung Electronics, and MKS Inc. delivered strong results driven by accelerating AI demand across semiconductor and advanced electronics end markets. Memory manufacturers in Korea were top contributors as supply-demand constraints benefit memory chip suppliers. The market expects memory price increases in 2026, further supporting performance of Samsung and SK Hynix. AI-driven demand across semiconductor end markets accelerated growth. The investment approach remains disciplined and focused on strong cash flows from quality companies selling essential products and services with good management teams creating shareholder value. The manager seeks situations where attractive valuations meet genuine business momentum, avoiding trends and distant promises. International equities outperformed after a decade of American dominance, driven by weaker U.S. dollar, more attractive valuations abroad, and slowing momentum in U.S. tech. This country and sector rotation validated the need for diversification instead of home bias, with attractive opportunities in targeted developed and emerging markets. Yara International benefited from partnerships for low-carbon ammonia projects in the U.S. and Middle East, positioning the company toward becoming an energy-transition and low-carbon fertilizer company while securing long-dated contracts. HD Hyundai Electric capitalized on increased demand to expand power infrastructure. | 267260 KS UTHR JAZZ CAP FP MKSI 000660 KS |
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| 2025 Q4 | Jan 20, 2026 | Polaris International Equity | 8.7% | 35.4% | 000270.KS, 000660.KS, 005930.KS, 1299.HK, 2318.HK, 267270.KS, 5871.TW, 6758.T, 8001.T, 8002.T, 8591.T, 8729.T, BABA, BARN.SW, CAP.PA, DHL.DE, IAG.L, JAZZ, LIN, LTM, LUN.TO, MG.TO, ML.PA, NVS, NXT.L, VIPS, YAR.OL | Asia, diversification, Europe, industrials, international, Outperformance, technology, value | Memory chip suppliers SK Hynix and Samsung Electronics were top contributors as supply-demand constraints benefit memory manufacturers. The market expects memory price increases in 2026, further supporting performance of these Korean memory giants. AI demand drove strong performance in technology companies including Capgemini Group which benefited from cloud, data and AI demand. However, Alibaba faced profitability pressure due to significant AI spending despite revenue growth in its cloud division. HD Hyundai Electric capitalized on increased demand to expand and upgrade power infrastructure, completing construction of a new Korean power distribution equipment plant. European fiscal stimulus focused on defense and infrastructure spending supported regional performance. Yara International partnered with Air Products for low-carbon ammonia projects in the U.S. and Middle East, positioning toward becoming an energy-transition and low-carbon fertilizer company while securing long-dated contracts. Chinese e-commerce companies showed mixed results with Alibaba reporting impressive quarterly revenues and growth in cloud division and one-hour delivery business, while facing profitability pressure from aggressive discounting in instant retail space. Lundin Mining announced record third-quarter revenues, profiting from higher realized copper prices in an advantageous supply-demand environment. The Canadian miner also struck a strategic deal involving Eagle Mine and Humboldt Mill. | JAZZ 7267 JP CAP FP 005930 KS 000660 KS |
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| 2025 Q4 | Jan 20, 2026 | Harding Loevner Emerging Markets Equity | 3.7% | 29.1% | 000660.KS, 005930.KS, 2330.TW, 700.HK, ASIANPAINT.NS, BABA, EPAM, GLOB, HDFCBANK.NS, ICICIBC.NS, ITUB, MARUTI.NS, MELI, MMYT, PING, SE, TCOM, TCS, TSM, WALMEX.MX | AI, emerging markets, energy, Memory, nuclear, semiconductors, technology | AI-related stocks sustained the relentless rise of the EM index, with seven of the 10 largest contributors being AI-related and accounting for more than 40% of the index's 34% return. The surge reflects sharply accelerating capital investment into AI physical infrastructure, with hyperscalers repeatedly increasing capex plans. EMs are standout beneficiaries because significant portions of AI physical infrastructure are sourced from EM companies, especially Asia-based enterprises like TSMC. The AI boom is engendering structural changes in the memory market that should support higher and more consistent profitability. Three key developments are changing industry dynamics: growing demand for customized, high-value memory products like HBM; the need to surmount the memory wall for AI workloads; and increasing constraints on memory manufacturing capacity as more capacity is allocated to HBM production. The energy demands of AI data centers are staggering, with AI-specific servers using 53-76 terawatt-hours in 2024. This puts renewed attention on nuclear power advantages, which is both scalable enough to meet huge AI data center power requirements and carbon-emission free. Meta, Amazon, and Alphabet have announced plans to invest in nuclear energy, driving demand for uranium. | 688188 CH KAP LI 000660 KS 005930 KS |
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| 2023 Q4 | Jan 2, 2024 | JB Global Capital Fund | 7.8% | 18.4% | BABA, GOOG, STNE | - | View | ||
| 2025 Q4 | Jan 15, 2026 | M&G Investment | 0.0% | 0.0% | 000660.KS, 005930.KS, 0700.HK, 2308.TW, 2317.TW, BABA, BE, EXPN.L, GOOGL, LITE, LSEG.L, NVDA, REL.L, STX, TSM, WDC | AI, geopolitics, Polarisation, Quality, semiconductors, technology, value | AI remains a dominant theme with opportunities broadening beyond enablers to beneficiaries and providers. The team expects AI-related investment opportunities to encompass an increasing number of companies that stand to benefit from capital-fuelled AI advancements, while being selective about frothy valuations. Quality stocks suffered their worst relative decline in developed markets in more than two decades in 2025. The team is taking advantage of the market shunning quality stocks, finding opportunities in companies with high return on capital and good long-term defensive characteristics that have been unfairly de-rated. US Growth versus Value shows the widest valuation gap in decades, while Value has performed better in other regional markets, notably Europe and the UK. The team sees opportunities for Value catch-up as AI moves from builders to users across traditional sectors. Semiconductor cycle remains strong with companies like SK Hynix and Samsung Electronics delivering substantial earnings upgrades. However, there are risks that higher prices could lead to demand destruction as customers baulk at paying elevated prices for electronics. | View | |
| 2025 Q4 | Jan 15, 2026 | Baillie Gifford -Emerging Markets | 5.7% | 40.7% | 000333.SZ, 000660.KS, 005380.KS, 005930.KS, 0700.HK, 2318.HK, 2454.TW, 2939.TW, 300750.SZ, AXSB.NS, B3SA3.SA, BABA, FM.TO, IMP.JO, KMB.NS, MELI, NPN.JO, RELIANCE.NS, SE, SQM, TSM | AI, China, commodities, emerging markets, growth, semiconductors, South Korea, technology | China's high-level economic policy framework places significant emphasis on artificial intelligence, computing infrastructure, semiconductors, and smart manufacturing. The continued evolution of the AI investment cycle drove positive momentum, with notable strength in Korea. Memory semiconductor companies like Samsung and SK Hynix benefited from soaring demand for high-performance AI memory. Strong operational performance at Samsung Electronics and SK Hynix contributed to fund returns. Samsung is projected to regain the number one position in the global DRAM market, driven by soaring demand for high-performance AI memory and sharp rise in conventional DRAM prices. SK Hynix reported 62% year-over-year growth in profits and all capacity is fully booked for 2026. China offers the clearest example of how policy direction, innovation capacity and sheer scale can combine to reshape global industries. The 15th Five-Year Plan emphasizes AI, computing infrastructure, semiconductors, and smart manufacturing. Despite tariffs and trade tensions, the combination of high-quality businesses and compelling valuations remains hard to ignore. The commodities sector has been in focus with combination of US easing cycle and political will for a weaker dollar being very positive for gold and broader precious metals complex. Lithium saw easing upstream cost pressures and robust downstream battery-storage demand supporting sharp price recovery. Copper market shows structurally tight supply with planned supply expected to meet only 70% of projected 2035 demand. Latin American e-commerce and fintech platform MercadoLibre detracted from performance for the second quarter in a row, though the manager maintains a differentiated view based on long-term investment horizons. The company recorded its 27th straight quarter of 30% or higher revenue growth. Korean e-commerce leader Coupang faced challenges from a major data breach despite continuing strong growth. South Korea was one of the world's best-performing markets this year, buoyed by regulatory and governance reforms raising hopes for improved shareholder returns through the 'Value Up' program. Memory semiconductor space showed strong operational performance with significant upgrades to earnings forecasts, making valuations still attractive in global context despite rapid share price appreciation. | View | |
| 2025 Q4 | Jan 15, 2026 | Baillie Gifford -International Concentrated Growth | -6.7% | 16.7% | 0700.HK, 1211.HK, 1810.HK, 2413.T, 3690.HK, ADYEN.AS, ASML, ATCO-A.ST, BABA, BNTX, CPNG, DHER.DE, KER.PA, KINV-B.ST, MELI, MRNA, NU, NVDA, NVO, OCDO.L, OR.PA, PDD, RACE, RMS.PA, SAP, SE, SHOP, SPOT, TSLA, TSM, WISE.L | AI, concentrated, E-Commerce, growth, international, semiconductors, technology | Artificial intelligence continues to drive rapid operational progress across portfolio companies, with TSMC benefiting from AI-led demand and advanced nodes accounting for 74% of wafer revenue. ASML sees increasing lithography intensity driven by artificial intelligence. The managers view compute and generative AI as accelerating across industries as a key structural change driving economies over the next decade. E-commerce continues to reshape retail through greater convenience and lower costs, with portfolio companies like MercadoLibre, Shopify, and Sea Limited representing dominant positions in their respective markets. Despite near-term margin pressures from investments in logistics and fulfillment, the managers remain confident in the long-term digitization trend and competitive positioning of these platforms. The semiconductor sector shows strong momentum with TSMC reporting over 40% year-on-year revenue growth and ASML seeing substantial EUV demand with expectations for 15% sales growth in 2025. The managers emphasize the irreplaceable technology leadership and competitive moats of these companies as compute intensity rises globally. Digital media consumption continues progressing with Spotify demonstrating strong operating leverage, reaching 713 million users and 281 million subscribers while expanding operating margins to mid-teens levels. The platform's ecosystem depth and innovation strengthen its competitive position as media digitization advances. | View | |
| 2025 Q4 | Jan 14, 2026 | Emerald Wealth Partners – Growth Equity Strategy | 3.0% | 16.0% | 0700.HK, 6857.T, 8035.T, AAPL, AMZN, ASML, AVGO, AZN.L, BABA, FTNT, GOOGL, META, MSFT, NOW, NVDA, ORCL, TMO, TSM | AI, China, Cloud, cybersecurity, growth, infrastructure, semiconductors, technology | AI continues to show rapid progress with Google's Gemini 3 representing a significant leap in capabilities. The manager believes we may be nearing a Barnes & Noble moment where widespread business adoption accelerates, similar to internet adoption after 1995. They maintain strategic positioning in AI infrastructure companies with strong moats. Semiconductor equipment holdings drove strong Q4 performance, benefiting from improving industry outlooks and attractive valuations. The manager reduced underweight in Nvidia while favoring Broadcom's ASIC strategy, expecting custom silicon to gain market share in AI data centers. Following extensive research including a field trip, the manager re-entered Chinese technology and e-commerce through Alibaba and Tencent. They believe the regulatory environment has shifted from crackdown to active support, creating opportunities to buy excellent businesses at compelling valuations despite ongoing geopolitical tensions. Cloud infrastructure remains critical to AI deployment with companies like Alibaba holding 30% of China's cloud market and integrating AI capabilities. The manager sees cloud as essential infrastructure for the AI ecosystem with substantial growth runway as penetration remains below Western markets. The manager added back to Fortinet following 40% underperformance, seeing the company positioned to benefit from secular tailwinds in cybersecurity and vendor consolidation. Strong customer switching costs and network effects support continuous market share gains despite recent volatility. | View | |
| 2025 Q4 | Jan 13, 2026 | Oakmark Global Select Fund | 2.9% | 20.7% | BABA, BAYRY, CHTR, CNHI, GOOGL, IQV, MBG.DE, RHHBY, SNY | China, Europe, global, healthcare, Pharmaceuticals, technology, value | The fund is positioned in pharmaceutical companies with strong fundamentals and growth potential. Bayer benefited from positive drug trial results and potential Supreme Court review of litigation matters. Sanofi was added as a new position, featuring the blockbuster drug Dupixent and strong R&D pipeline despite being weighed down by vaccine market volatility and patent cliff concerns. The fund maintains exposure to Chinese e-commerce through Alibaba despite near-term headwinds. While the core e-commerce business performs well and cloud revenue growth accelerates, the company faces earnings pressure from Quick Commerce subsidies. The managers believe losses will reduce over time and see long-term positioning in Chinese AI as valuable. | SAN FP BABA BAYN GR |
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| 2025 Q4 | Jan 13, 2026 | Oakmark Global Fund | 5.2% | 21.2% | 005930.KS, BABA, CHTR, CNHI, DSV.CO, GM, IQV, IT, MBG.DE, MDLZ | consumer, global, healthcare, Performance, semiconductors, technology, value | Samsung Electronics was the top contributor as earnings staged a sharp recovery due to strength in its core semiconductor business. The company's High Bandwidth Memory product lineup has continued to improve under new management, positioning Samsung as one of the world's leading semiconductor companies with a long runway for future growth. Alibaba Group was the top detractor despite its core E-commerce business continuing to perform well and Cloud revenue growth accelerating. The company was negatively impacted by significant spending on subsidies to grow their Quick Commerce business, though losses are expected to be reduced over time. Mondelez International is a global snacking powerhouse with leading market share positions in crackers, cookies and chocolate. The company possesses a unique global footprint that over-indexes to snacking occasions, benefiting from robust pricing power, low private label competition and rising per capita consumption. | MDLZ IT BABA 005930 KS |
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| 2025 Q4 | Jan 12, 2026 | QV Investors Inc. | 0.0% | 0.0% | 005930.KS, 0700.HK, BABA, CAT, CNI, DG, FTT.TO, GOOGL, MU, NVDA, TPZ.TO, UNP | AI, commodities, Dollar, financials, gold, international, Market Concentration, value | AI narrative shifted from Magnificent 7 to hardware providers building data centers. Memory chip providers like Micron and Samsung surged 240% and 120% respectively. Industrial businesses like Caterpillar and Finning benefited from AI-related capital spending for power generation equipment. Gold prices rose 64% as global central banks bolstered reserves and investors sought store of value amid geopolitical concerns and US deficit levels. Precious metals had their best year since 1979, contributing significantly to Canadian market returns. European financials rose 65.7% in 2025 as positive interest rates re-ignited profitability. Canadian bank stocks rose 43.4% as falling rates caused yield curve steepening. Over five years, European financials returned 111.5% versus S&P 500's 82.3%. Manager emphasizes opportunities in defensive areas like healthcare and consumer staples trading at historically low multiples. European cyclicals and smaller cap companies globally trade at low earnings multiples with depressed margins, offering reasonable returns with conservative assumptions. Industrial metals moved to new highs following precious metals surge. Manager sees opportunity in companies that manufacture raw materials into value-added products and pass through cost increases. Commodities rising alongside capital expenditure and fiscal stimulus. | TPZ CN FTT CN DG 005930 KS |
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| 2025 Q4 | Jan 11, 2026 | Oldfield Partners Overstone Global Large Cap | 6.3% | 34.7% | 005930.KS, ASML, BABA, BNZL.L, CNHI, EXO.MI, HEN3.DE, LLOY.L, MT, NVDA, PHG, RACE, STLA, TSM, UHR.SW | AI, diversification, global, Luxury, semiconductors, technology, value | AI has become a dominant theme across major equity indices, with Nvidia leading the S&P 500, ASML dominating MSCI EAFE, and TSMC leading emerging markets. The fund benefited from AI-related dynamics, particularly through Samsung's memory products experiencing substantial price increases due to DRAM shortages driven by AI demand. The fund focuses on investing in companies with low valuations that are unloved, ignored, or out of favor but remain fundamental to the global economy. Despite persistent bubble discussions, opportunities continue to exist away from media headlines in companies trading at attractive valuations. New investment in Swatch represents exposure to luxury watch brands including Omega, Longines, Tissot, and others. The investment thesis is based on tangible assets including Swiss real estate and the potential for operating leverage when luxury demand recovers from current structural pressures. | View | |
| 2025 Q4 | Jan 11, 2026 | Thornburg International Equity Fund | 4.5% | 34.2% | 005930.KS, 4901.T, 6501.T, 6758.T, 8306.T, AZN, BABA, BNP.PA, BZ, CP, DPW.DE, LIN, NN.AS, ROG.SW, SU.PA, TTE | China, Europe, fundamentals, international, Japan, value | Trade tensions remained a significant theme with continuing negotiations between the U.S. and major trade partners including China, which is also in contentious trade talks and tit-for-tat tariff and procurement walls with the European Union. Technology-related industries showed strength, particularly in Northeast Asia and the U.S., where chip stocks rallied on AI optimism during the fourth quarter. The U.S. Federal Reserve cut its target rate 25 basis points in December. The Bank of Japan lifted its rate a quarter point while the ECB stood pat, creating rate differentials that played out in currency markets. | View | |
| 2025 Q4 | Jan 11, 2026 | Thornburg Global Opportunities Fund | 6.5% | 41.1% | 0027.HK, 005930.KS, 0700.HK, 300750.SZ, BABA, BIRG.L, BNP.PA, C, CACI, COF, FCX, GOOGL, LLY, META, NN.AS, ORA.PA, RELIANCE.NS, SAP.DE, SCHW, SHEL, T, TSCO.L, TSM, TTE | Digital Economy, financials, global, growth, semiconductors, technology, Trade Policy, value | The fund holds significant positions in semiconductor companies including Samsung Electronics, Taiwan Semiconductor Manufacturing, and Contemporary Amperex Technology. These technology firms were leading contributors to portfolio performance during Q4 2025, with the manager highlighting their role in the digital economy transformation. Financial intermediaries represent 20.5% of the portfolio, with the manager believing they should benefit from interest rates determined primarily by free market forces. Key holdings include Citigroup, Bank of Ireland, BNP Paribas, NN Group, Capital One, and Charles Schwab, which were significant contributors to Q4 performance. The portfolio includes major e-commerce platforms Alibaba Group, Tencent Holdings, and Meta Platforms, though these were among the most significant detractors from Q4 performance. The manager maintains exposure to firms tied to the digital economy despite recent underperformance. Energy investments comprise 6.9% of the portfolio, including positions in Shell PLC and Total Energies SE. The manager notes periodic fluctuation of investor confidence in industrial commodity sector businesses, with Total Energies contributing positively to Q4 performance. The manager explicitly discusses evolving U.S. trade policies and their impact on global trade flows, noting that winners and losers among multi-national producers of tradeable goods will become obvious in time. The current outlook for many global businesses remains uncertain due to new trade policies. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Mar 29, 2026 | Substack | Coughlin Capital | Alibaba Group Holding Limited | Technology | Internet Retail | Bull | New York Stock Exchange | AI strategy, Alibaba, Chinese tech, Cloud computing, commerce data, e-commerce, long-term growth, market sentiment, regulatory environment, user base | View Pitch |
| Mar 21, 2026 | Substack | Coughlin Capital | Alibaba Group Holding Limited | Technology | E-commerce | Bull | New York Stock Exchange | AI-driven shopping, Alibaba, cloud services, divestitures, e-commerce, Lunar New Year, market share, quick commerce, Revenue Growth, technology | View Pitch |
| Mar 16, 2026 | Substack | Coughlin Capital | Alibaba Group Holding Limited | Technology | E-commerce | Bull | New York Stock Exchange | AI investment, Alibaba, cloud infrastructure, e-commerce, geopolitical tensions, long-term growth, market volatility, Pentagon list, Qwen AI platform, stock pullback | View Pitch |
| Mar 16, 2026 | Substack | Coughlin Capital | Alibaba Group Holding Limited | Technology | Internet Retail | Bull | New York Stock Exchange | AI investment, Alibaba, Cloud computing, competitive edge, geopolitical tensions, infrastructure, margin expansion, open-source strategy, oversold, valuation | View Pitch |
| Feb 21, 2026 | Fund Letters | George Bolton | Alibaba Group Holding Limited | Consumer Discretionary | Broadline Retail | Bull | New York Stock Exchange | AI, CapEx, China, cloud, data centers, Digitalization, ecommerce, infrastructure, investment | View Pitch |
| Feb 21, 2026 | Fund Letters | HRISHIKESH (HK) GUPTA | Alibaba Group Holding Ltd | Consumer Discretionary | E-Commerce | Bull | New York Stock Exchange | AI, cloud, ecommerce, Investment cycle, scale | View Pitch |
| Feb 4, 2026 | Twitter / X | @Investors___X | Alibaba Group Holding Limited | Internet & Direct Marketing Retail | Internet & Direct Marketing Retail | Bull | New York Stock Exchange | Alipay, China, Compliance, conglomerate, Fintech, Insurance, IPO, Lending, Optionality, Payments, Regulation, Sum-of-parts, valuation, Wealth | View Pitch |
| Jan 29, 2026 | Fund Letters | Michael Kass | Alibaba Group Holding Limited | Consumer Discretionary | Internet Retail | Bull | New York Stock Exchange | AI, China, cloud, ecommerce, Platforms | View Pitch |
| Jan 28, 2026 | Fund Letters | Julien Albertini | Alibaba Group Holding Limited | Consumer Discretionary | Internet Retail | Bear | New York Stock Exchange | AI, capital returns, China, cloud, ecommerce | View Pitch |
| Jan 28, 2026 | Fund Letters | David Herro | Alibaba Group Holding Limited | Consumer Discretionary | Internet Retail | Bear | New York Stock Exchange | AI, China, cloud, ecommerce, Investment cycle | View Pitch |
| Jan 28, 2026 | Fund Letters | Thomas Küpfer | Alibaba Group Holding Ltd | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | New York Stock Exchange | capital returns, China, cloud, ecommerce, Regulation | View Pitch |
| Jan 27, 2026 | Fund Letters | Alison Shimada | Alibaba Group Holding Ltd | Consumer Discretionary | Internet & Direct Marketing Retail | Bear | New York Stock Exchange | China, cloud, Consumption, ecommerce, monetization | View Pitch |
| Jan 27, 2026 | Fund Letters | Jeremy Deal | Alibaba Group Holding Ltd. | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | New York Stock Exchange | AI, buybacks, cloud, ecommerce, restructuring | View Pitch |
| Jan 27, 2026 | Fund Letters | William C. Nygren | Alibaba Group Holding Limited | Consumer Discretionary | Internet & Direct Marketing Retail | Neutral | New York Stock Exchange | AI, cloud, ecommerce, Margins, Subsidies | View Pitch |
| Jan 27, 2026 | Fund Letters | David G. Herro | Alibaba Group Holding Limited | Consumer Discretionary | Internet & Direct Marketing Retail | Neutral | New York Stock Exchange | AI, cloud, ecommerce, Margins, Subsidies | View Pitch |
| Jan 27, 2026 | Fund Letters | Jack Beiro | Alibaba Group Holding Ltd | Consumer Discretionary | Internet Retail | Bull | New York Stock Exchange | AI, cashflow, cloud, ecommerce, valuation | View Pitch |
| Jan 23, 2026 | Fund Letters | Arne Alsin | Alibaba Group Holding Limited | Consumer Discretionary | Internet Retail | Bull | New York Stock Exchange | China, ecommerce, Platforms, Sentiment, valuation | View Pitch |
| Jan 16, 2026 | Value Investors Club | miser861 | Alibaba Group Holding Ltd. | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | New York Stock Exchange | China SOTP, Ads flywheel, Cloud inflection, GenAI inference lever, Net-cash buybacks. | View Pitch |
| Jan 12, 2026 | Substack | Coughlin Capital | Alibaba Group Holding Limited | Technology | Internet Retail | Bull | New York Stock Exchange | AI investment, Alibaba, buybacks, competitive resilience, e-commerce, investor expectations, management strategy, market share, quick commerce, regulatory intervention | View Pitch |
| Jan 11, 2026 | Seeking Alpha | Seeking Alpha | Alibaba Group Holding Limited | Technology | Cloud Computing | Bull | New York Stock Exchange | AI infrastructure, Alibaba, Chinese Technology, Cloud computing, e-commerce, H200 GPUs, NVIDIA, Revenue Growth, U.S. Government Clearance, valuation gap | View Pitch |
| Jan 8, 2026 | Fund Letters | Jeremy Deal | Alibaba Group Holding Limited | Consumer Discretionary | Distributors | Bull | New York Stock Exchange | Ant Group, China, investments, Sum-of-the-Parts, Value | View Pitch |
| Jan 8, 2026 | Fund Letters | David Herro | Alibaba Group Holding Ltd. | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | New York Stock Exchange | buybacks, China, cloud, ecommerce, Regulation, valuation | View Pitch |
| Jan 8, 2026 | Fund Letters | Damian Bird | Alibaba Group Holding Limited | Consumer Discretionary | Broadline Retail | Bear | New York Stock Exchange | China, cloud, Competition, ecommerce, Reinvestment | View Pitch |
| Jan 8, 2026 | Fund Letters | Matthew Peterson | Alibaba Group Holding Ltd. | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | New York Stock Exchange | buybacks, China, cloud, ecommerce, Regulation, valuation | View Pitch |
| Jan 8, 2026 | Substack | Coughlin Capital | Alibaba Group Holding Limited | Cloud Computing | Cloud Computing | Bull | New York Stock Exchange | AI technologies, Alibaba Cloud, China cloud market, cloud infrastructure, competitive dynamics, data sovereignty, full-stack offerings, growth potential, market share, regulatory barriers | View Pitch |
| Jan 8, 2026 | Substack | Coughlin Capital | Alibaba Group | E-commerce and Cloud Computing | E-commerce and Cloud Computing | Bull | New York Stock Exchange | AI-related revenue, Alibaba Group, Ant Group, Cainiao logistics, China market, Cloud computing, e-commerce, geopolitical risks, Share Buyback, valuation | View Pitch |
| Jan 8, 2026 | Substack | Coughlin Capital | Alibaba Group Holding Limited | E-commerce | Bull | New York Stock Exchange | AI revenue, Alibaba, Chinese Equities, Cloud computing, geopolitical tailwind, Lunar New Year, multi-year re-rating, tariff reduction, tax-loss selling, valuation | View Pitch | |
| Dec 6, 2025 | Fund Letters | Julien Albertini | Alibaba Group Holding Limited | Consumer Discretionary | Internet Retail | Bull | NYSE | AI, buybacks, China, cloud, ecommerce | View Pitch |
| Dec 6, 2025 | Substack | Coughlin Capital | Alibaba Group Holding Limited | Consumer Discretionary | Internet Retail | Bull | Alibaba, buybacks, China, consumer spending, dividends, e-commerce, economic stimulus, equity market, PBoC, policy support | View Pitch | |
| Dec 3, 2025 | Fund Letters | Stuart Pearce | Alibaba Group Holding Limited | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | NYSE | buybacks, China, cloud, diversification, e-commerce | View Pitch |
| Nov 29, 2025 | Fund Letters | Jesse Flores | Alibaba Group Holding Ltd. | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | AI, China, cloud, e-commerce, growth, Value | View Pitch | |
| Nov 29, 2025 | Fund Letters | Matthew Peterson | Alibaba Group Holding Ltd. | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | NYSE | China, compounding, e-commerce, Options, technology, value investing | View Pitch |
| Nov 29, 2025 | Fund Letters | Cornelius Zeeman | Alibaba Group Holding Limited | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | NYSE | AI, buybacks, China, cloud, e-commerce, growth, profitability, recovery, retail, valuation | View Pitch |
| Nov 29, 2025 | Fund Letters | David Herro | Alibaba Group Holding Ltd. | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | NYSE | AI, buybacks, China, cloud, e-commerce, growth, technology, valuation | View Pitch |
| Nov 29, 2025 | Fund Letters | Julien Albertini | Alibaba Group Holding Limited | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | NYSE | AI, buybacks, cloud, dividends, e-commerce, Partnerships, rerating | View Pitch |
| Nov 29, 2025 | Fund Letters | Olivia Treharne | Alibaba Group Holding Ltd. | Consumer Discretionary | E-Commerce | Bull | NYSE | AI, China, cloud, Digital, e-commerce, growth, Regulation, valuation | View Pitch |
| Nov 29, 2025 | Fund Letters | Rakesh Bordia | Alibaba Group Holding Ltd. | Consumer Discretionary | E-Commerce | Bull | NYSE | AI, China, cloud, Consumption, e-commerce, growth, restructuring, valuation | View Pitch |
| Nov 29, 2025 | Fund Letters | David Herro | Alibaba Group Holding Ltd. | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | NYSE | AI, buybacks, China, cloud, e-commerce, growth, technology, valuation | View Pitch |
| Nov 28, 2025 | Fund Letters | Julien Albertini | Alibaba Group Holding Limited | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | NYSE | AI, buybacks, cloud, dividends, e-commerce, Partnerships, rerating | View Pitch |
| Nov 28, 2025 | Fund Letters | Olivia Treharne | Alibaba Group Holding Ltd. | Consumer Discretionary | E-Commerce | Bull | NYSE | AI, China, cloud, Digital, e-commerce, growth, Regulation, valuation | View Pitch |
| Nov 28, 2025 | Fund Letters | Rakesh Bordia | Alibaba Group Holding Ltd. | Consumer Discretionary | E-Commerce | Bull | NYSE | AI, China, cloud, Consumption, e-commerce, growth, restructuring, valuation | View Pitch |
| Nov 10, 2025 | Seeking Alpha | Seeking Alpha | Alibaba Group Holding Limited | Internet Retail | Bull | AI, Alibaba, China, Cloud computing, competitive position, e-commerce, growth potential, national agenda, organizational transformation | View Pitch | ||
| Oct 29, 2025 | Seeking Alpha | Seeking Alpha | Alibaba Group Holding Limited | Internet Retail | Bull | Alibaba Group, cloud services, e-commerce, investment opportunity, large language models, market recognition, share price increase, technological advancements, undervalued | View Pitch | ||
| Oct 23, 2025 | Value Investors Club | pcm983 | Alibaba Group Holding Ltd. | Consumer Discretionary | Interactive Media & Services / E-commerce Platforms | Bear | NYSE | China sanctions, Decoupling, Geopolitical hedge, tariffs | View Pitch |
| Oct 11, 2025 | Seeking Alpha | Seeking Alpha | Alibaba Group Holding Limited | Internet Retail | Neutral | AI growth, Alibaba, Chinese market, Cloud computing, e-commerce, geopolitical risks, international expansion, Market Saturation, profitability, valuation | View Pitch | ||
| Sep 25, 2025 | Seeking Alpha | Seeking Alpha | Alibaba Group Holding Limited | Internet Retail | Bull | AI, Alibaba, cloud infrastructure, Cloud Intelligence Group, e-commerce, investment strategy, market competition, Qwen3-Max-Preview, Revenue Growth, stock valuation | View Pitch | ||
| Sep 1, 2025 | Substack | Coughlin Capital | Alibaba Group Holding Limited | Consumer Cyclical | Internet Retail | Bull | AI chips, AI growth, Alibaba, Cloud computing, e-commerce, International commerce, market leadership, profitability, Revenue Growth, Technological innovation | View Pitch | |
| Aug 13, 2025 | Seeking Alpha | Arda Solmaz | Alibaba Group Holding Limited | Consumer Discretionary | Internet Retail | Bull | NYSE | — | View Pitch |
| Aug 13, 2025 | Seeking Alpha | Envision Research | Alibaba Group Holding Limited | Other | - | Neutral | NYSE | — | View Pitch |
| Aug 13, 2025 | Seeking Alpha | Daniel Jones | Alibaba Group Holding Limited | Consumer Discretionary | Internet Retail | Bull | NYSE | — | View Pitch |
| Aug 13, 2025 | Seeking Alpha | VanEck | Alibaba Group Holding Limited | Consumer Discretionary | Internet Retail | Bull | NYSE | — | View Pitch |
| Aug 8, 2025 | Seeking Alpha | Hawkinvest | Alibaba Group Holding Limited | Consumer Discretionary | Internet Retail | Bull | NYSE | — | View Pitch |
| Aug 8, 2025 | Seeking Alpha | JR Research | Alibaba Group Holding Limited | Consumer Discretionary | Internet Retail | Bull | NYSE | — | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Oakoff Investments | Alibaba Group | Consumer Discretionary | Internet Retail | Bull | NYSE | — | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Seeking Alpha | Alibaba Group Holding Limited | Internet Retail | Neutral | — | 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. | ||||||||