BEZ-L

BEZ-L

BEZ-L

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 14, 2025	T. Bailey Multi-Asset Dynamic Fund	3.0%	-	AZN, BEZ.L, CRM, CSCO, EMG.L, HIK.L, HLMA.L, IMI.L, ITRK.L, LRE.L, MSFT, NEM, NVDA, PANW, PETS.L, ROR.L, SPC.L, STEM.L, TSCO.L, XPS.L	active management, AI, cybersecurity, defense, diversification, Geopolitical, UK Equities, value	AI-led productivity gains are real and technology focused funds like Polar Capital AI rebounded strongly in Q2. The fund takes a broader approach including allocations to industrials positioned as beneficiaries of AI adoption. Sharp recoveries in AI enablers like Nvidia and Microsoft drove V-shaped price action from Q1 to Q2.	ETLN GR	View
2025 Q2	Jul 14, 2025	T. Bailey Multi-Asset Growth Fund	3.6%	-	AZN.L, BEZ.L, CRWD, CSCO, EMG.L, HIK.L, HLMA.L, IMI.L, ITRK.L, LRE.L, MSFT, NEM, NVDA, PANW, PETS.L, ROR.L, SPEC.L, STEM.L, TSCO.L	active management, defense, diversification, Geopolitical, inflation, technology, Uk, value	Technology focused funds such as Polar Capital AI rebounded strongly from Q1 setbacks. The fund takes a broader approach including allocations to industrials positioned as AI adoption beneficiaries. Sharp recoveries in AI enablers like Nvidia and Microsoft drove V-shaped price action from Q1 to Q2.	9896 JP	View
2025 Q2	Jul 14, 2025	T. Bailey Global Thematic Equity Fund	5.0%	-	AZN, BEZ.L, CRM, CSCO, EMG.L, HIK.L, HLMA.L, IMI.L, ITRK.L, LRE.L, MSFT, NEM, NVDA, PANW, PETS.L, ROR.L, SRC.L, STEM.L, TSCO.L, XPS.L	AI, cybersecurity, defense, diversification, global, Multi-Asset, Uk, value	AI-led productivity gains are real and technology focused funds like Polar Capital AI rebounded strongly in Q2. The fund takes a broader approach including allocations to industrials positioned as AI adoption beneficiaries. Sharp recoveries in AI enablers like Nvidia and Microsoft drove V-shaped price action from Q1 to Q2.	CIBR CHRY LN	View
2025 Q2	Jul 14, 2025	T. Bailey UK Responsibly Invested Equity Fund	9.4%	-	AZN, BEZ.L, CRM, CSCO, EMG.L, HIK.L, HLMA.L, IMI.L, ITRK.L, LRE.L, MSFT, NEM, NVDA, PANW, PETS.L, ROR.L, SRC.L, STEM.L, TSCO.L, XPS.L	active management, defense, diversification, Geopolitical, inflation, technology, Uk, value	AI-led productivity gains are real and technology focused funds like Polar Capital AI rebounded strongly in Q2. The fund takes a broader approach including allocations to industrials positioned as AI adoption beneficiaries. Sharp recoveries in AI enablers like Nvidia and Microsoft drove V-shaped price action from Q1 to Q2.	SXS LN	View
2025 Q1	Apr 30, 2025	T. Bailey Global Thematic Equity Fund	-0.7%	-	AJB.L, AZN, BEZ.L, CCC.L, CKN.L, FOUR.L, HIK.L, HLMA.L, IMI.L, ITRK.L, MGAM.L, ORN.L, OXIG.L, RICD.L, ROR.L, SXS.L, TSCO.L, XPS.L	commodities, defense, diversification, Europe, infrastructure, Multi-Asset, tariffs, Trade Policy	President Trump's unpredictable tariff policies unsettled global markets, contributing to heightened volatility and early fears of stagflation. His approach of intermittently announcing tariffs, particularly targeting China and North American trading partners, undermined investor confidence and triggered sharp market swings. The potential 25% tariff on copper imports has driven US copper futures to record highs, as buyers rush to secure supply before the tariffs take effect.		View
2025 Q1	Apr 30, 2025	T. Bailey Multi-Asset Dynamic Fund	2.9%	-	AJB.L, AZN, BEZ.L, CCC.L, CKN.L, FOUR.L, HIK.L, HLMA.L, IMI.L, ITRK.L, MGAM.L, ORN.L, OXIG.L, RICD.L, ROR.L, SXS.L, TSCO.L, XPS.L	AI, commodities, defense, diversification, Europe, infrastructure, tariffs, Trade Policy	European defense spending surge driven by policy shifts, deadlock in US-Ukraine aid discussions, and pressure on NATO members to boost military budgets. Germany's €500 billion infrastructure and defense spending program boosted regional confidence. The L&G Europe Ex UK Equity ETF was introduced to access the entire defense value chain and economic impact.		View
2025 Q1	Apr 30, 2025	T. Bailey Multi-Asset Growth Fund	2.2%	-	AJB.L, AZN, BEZ.L, CCC.L, CKN.L, FOUR.L, HIK.L, HLMA.L, IMI.L, ITRK.L, MGAM.L, ORN.L, OXIG.L, RCDO.L, ROR.L, SXS.L, TSCO.L, XPS.L	commodities, defense, diversification, Europe, infrastructure, Multi-Asset, Trade Policy, volatility	European defense spending surge driven by policy shifts, US-Ukraine aid deadlock, and NATO pressure to boost military budgets. Germany's €500 billion infrastructure and defense program catalyzing regional confidence and investment opportunities across the defense value chain.		View
2025 Q1	Apr 30, 2025	T. Bailey UK Responsibly Invested Equity Fund	-4.9%	-	AJB.L, AZN, BEZ.L, BTC-USD, CCC.L, CKN.L, FOUR.L, HIK.L, HLMA.L, IMI.L, ITRK.L, MGAM.L, ORG.L, OXIG.L, RCDO.L, ROR.L, SXS.L, TSCO.L, TSLA, XPS.L	AI, commodities, defense, diversification, Europe, infrastructure, tariffs, volatility	European defense spending surge driven by policy shifts, deadlock in US-Ukraine aid discussions, and pressure on NATO members to boost military budgets. Germany's €500 billion infrastructure and defense spending program boosted regional confidence. The L&G Europe Ex UK Equity UCITS ETF was introduced to access the entire defense value chain and economic impact.		View
2024 Q1	Mar 31, 2024	Platinum International Fund	6.5%	6.5%	005930.KS, AMZN, ASML, AVGO, BEZ.L, DINO.WA, EADSY, GOOGL, IGLOY, META, MU, NFLX, RYAAY, TCOM, TM, TSM, UBSG, UPM.HE, ZEAL.CO, ZTO	AI, global, semiconductors, technology, Travel, value	The fund holds companies that benefit from AI spending including TSMC, Micron, and Broadcom. Their strategy focuses on reasonably-valued businesses that perform well if AI continues to grow but have strong non-AI businesses as downside protection. Overall AI exposure is roughly 14% of the portfolio.		View
2024 Q4	Dec 31, 2024	Ariel Global Fund	-3.7%	7.1%	000660.KS, 6460.T, ABBV, BARC.L, BEZ.L, BMY, CMA, CNP, COF, CVS, GSK, JD, ORAN	AI, Banking, global, healthcare, Telecommunications, Utilities, value	Markets worldwide were led by U.S. mega-cap technology companies and investor enthusiasm for artificial intelligence themed stocks. The narrow ascent of AI themed stocks have driven market returns in recent years, though opportunities should broaden to companies utilizing AI to create real-world efficiencies. SK Hynix is positioned to benefit from increased deployment of its leading-edge High Bandwidth Memory products experiencing rapid demand growth to power Artificial Intelligence.	6460.T 000660.KS REE.MC CNP BEZ.L BARC.L ABBV COF	View
2024 Q4	Dec 31, 2024	Ariel International Fund	-5.1%	5.4%	000660.KS, 005930.KS, 6460.T, BARC.L, BEZ.L, BMPS.MI, DLG.L, EMAAR.DU, FMS.DE, HO.PA, JD, ML.PA, MUV2.DE, ORA.PA, REE.MC, SAF.PA, SNY, VEA	AI, Asia, Banking, Europe, international, semiconductors, value	Markets worldwide were led by artificial intelligence themed stocks, with U.S. mega-cap technology companies dominating performance. The narrow ascent of AI themed stocks have driven market returns in recent years, though opportunities should broaden to companies utilizing AI to create real-world efficiencies.	6460.T 000660.KS REE.MC ORA.PA BEZ.L BARC.L 3769 JP\|4194 CN\|4733 JP\|APG\|CROX\|FIX\|FLUT\|GLEN LN\|JD/ LN\|MTX GR\|PSI CN\|TKO\|WISE LN\|ZETA NPSNY ML.PA EMAAR.DU BMPS.MI FME.DE	View
2024 Q3	Oct 30, 2024	T. Bailey Global Thematic Equity Fund	1.9%	-	AZN, BEZ.L, BWY.L, CCC.L, COA.L, EXPN.L, HLMA.L, ITRK.L, KLR.L, OXIG.L	AI, diversification, gold, infrastructure, interest rates, Multi-Asset, Uk, value	The fund introduced VT Gravis UK Infrastructure Fund, recognizing that softening interest rates would benefit closed-ended infrastructure funds trading at wide discounts. Infrastructure and property exposure through Impact Healthcare REIT and Urban Logistics provided strong returns as the sector recovers from a low base.		View
2024 Q3	Oct 30, 2024	T. Bailey Multi-Asset Dynamic Fund	3.4%	-	AZN, BEZ.L, BWY.L, CCC.L, COA.L, EXPN.L, HLMA.L, ITRK.L, KLR.L, OXIG.L	AI, gold, infrastructure, interest rates, Multi-Asset, Uk, value	Manager introduced VT Gravis UK Infrastructure Fund recognizing that softening interest rates would benefit closed-ended infrastructure funds trading at wide discounts. Infrastructure and property exposure through Impact Healthcare REIT and Urban Logistics provided strong returns as the sector recovers from a low base.		View
2024 Q3	Oct 30, 2024	T. Bailey Multi-Asset Growth Fund	3.1%	-	AZN, BEZ.L, BWY.L, CCC.L, COA.L, EXPN.L, HLMA.L, ITRK.L, KLR.L, MSIN.L, OGN.L, OXIG.L	AI, diversification, gold, infrastructure, interest rates, Multi-Asset, Uk, value	Manager introduced VT Gravis UK Infrastructure Fund recognizing that softening interest rates would benefit closed-ended infrastructure funds trading at wide discounts. Infrastructure and property exposure through Impact Healthcare REIT and Urban Logistics provided strong returns as the sector recovers from a low base.		View
2024 Q3	Oct 30, 2024	T. Bailey UK Responsibly Invested Equity Fund	1.9%	-	AZN.L, BEZ.L, BWY.L, CCC.L, COA.L, EXPN.L, HLMA.L, ITRK.L, KLR.L, OXIG.L	AI, diversification, gold, infrastructure, Multi-Asset, REITs, Uk, value	Manager introduced VT Gravis UK Infrastructure Fund recognizing that softening interest rates would benefit closed-ended infrastructure funds trading at wide discounts. Infrastructure and property exposure through Impact Healthcare REIT and Urban Logistics provided strong returns as the sector recovers from a low base.		View
2024 Q4	Jan 20, 2025	T. Bailey Global Thematic Equity Fund	0.3%	-	AZN, BEZ.L, BYIT.L, CKN.L, EXPN.L, FOUR.L, HIK.L, HILS.L, HLMA.L, IMI.L, ITRK.L, MGAM.L, MGNS.L, OGN.L, PETS.L, ROR.L, STHR.L, SXS.L, TSCO.L, XPS.L	AI, diversification, gold, Multi-Asset, REITs, Uk	The fund holds exposure to artificial intelligence through Polar Capital Artificial Intelligence fund, which recovered after a challenging prior quarter. The manager continues to monitor the Magnificent 7's ability to effectively capitalise on AI technology to generate meaningful returns. AI benefits are expanding into other sectors like Healthcare, Insurance, and Industrials.		View
2024 Q4	Jan 20, 2025	T. Bailey Multi-Asset Dynamic Fund	-1.4%	-	AZN, BEZ.L, BYIT.L, CKN.L, EXPN.L, FOUR.L, HIK.L, HILS.L, HLMA.L, IMI.L, ITRK.L, MGAM.L, MGNS.L, OGN.L, PETS.L, ROR.L, STHR.L, SXS.L, TSCO.L, XPS.L	AI, diversification, gold, Multi-Asset, REITs, thematic, UK Equities, value	The fund maintains exposure to AI through Polar Capital Artificial Intelligence Fund, which recovered after a challenging prior quarter. The manager sees AI benefits expanding into other sectors like Healthcare, Insurance, and Industrials as earnings broaden out.		View
2024 Q4	Jan 20, 2025	T. Bailey Multi-Asset Growth Fund	0.3%	-	AZN, BEZ.L, BYIT.L, CKN.L, EXPN.L, FOUR.L, HIK.L, HILS.L, HLMA.L, IMI.L, ITRK.L, MGAM.L, MGNS.L, OGN.L, PETS.L, ROR.L, STEM.L, SXS.L, TSCO.L, XPS.L	AI, diversification, gold, inflation, Multi-Asset, REITs, Uk, value	The fund maintains exposure to artificial intelligence through Polar Capital Artificial Intelligence Fund, which recovered after a challenging prior quarter. The manager sees AI benefits expanding into other sectors like Healthcare, Insurance, and Industrials as earnings broaden out.		View
2024 Q4	Jan 20, 2025	T. Bailey UK Responsibly Invested Equity Fund	-5.1%	-	AZN, BEZ.L, BYIT.L, CKN.L, EXPN.L, FOUR.L, HIK.L, HILS.L, HLMA.L, IMI.L, ITRK.L, MGAM.L, MGNS.L, OGN.L, PETS.L, ROR.L, STHP.L, SXS.L, TSCO.L, XPS.L	AI, diversification, gold, inflation, Multi-Asset, REITs, Uk, value	The fund maintains exposure to artificial intelligence through Polar Capital Artificial Intelligence Fund, which recovered after a challenging prior quarter. The manager sees AI benefits expanding into other sectors like Healthcare, Insurance, and Industrials as earnings broaden out.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Ariel Global Fund	Beazley plc	Financials	Property & Casualty Insurance	Bull	LSE	Bull, Commercial Property, cyber insurance, Excess and Surplus, specialty insurance, Structural Growth, UK	View Pitch
Apr 13, 2026	Fund Letters	Ariel International Fund	Beazley plc	Financials	Insurance	Bull	London Stock Exchange	Commercial Property, cyber insurance, Excess and Surplus, Margins, specialty insurance, Structural Growth, UK	View Pitch
Feb 18, 2026	Substack	Wonderstcks	Beazley Plc	Insurance	Specialty Insurance and Reinsurance	Neutral	London Stock Exchange	capital agility, cyber insurance, cycle leadership, data-driven approach, market volatility, product innovation, regulatory changes, risk management, specialty insurance, underwriting	View Pitch

BSD Shareholders of BEZ-L

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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