BMW-DE

BMW-DE

BMW-DE

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 22, 2025	Third Avenue Value Fund	9.4%	12.7%	1418.T, 5233.T, 6856.T, 7270.T, 8283.T, BIRG.L, BMW.DE, BZU.MI, CKH.L, CMCL.L, CRE.L, DB, EZJ.L, HCC, IFP.TO, ORI, SFOR.L, TDW	Copper, diversification, Japan, Reinsurance, small caps, valuation, value	Manager emphasizes price-conscious investing approach, seeking securities at meaningful discounts to business value. Criticizes current U.S. mega-cap valuations and advocates for diversification away from expensive stocks toward undervalued opportunities.	CDRE.L CRE LN	View
2023 Q2	Jul 14, 2023	Titan Wealth	-	-	ABNB, AMZN, BIO, BMW.DE, DBX, DIS, ETSY, ILMN, MSFT, NVDA, ORCL, REGN	AI, Energy Transition, global, inflation, Multi-Asset, technology, value	AI has dominated markets this year with companies like Microsoft, Nvidia, and Oracle benefiting significantly. The firm sees AI as a transformative technology creating compelling investment opportunities globally. They maintain exposure through specialized funds and individual holdings positioned to capture this secular growth trend.		View
2025 Q2	Jun 30, 2025	Oakmark Global Select Fund	4.5%	-	BABA, BAYRY, BDX, BMW.DE, BN.PA, BNP.PA, COF, DSV.CO, FI, IQV, LLOY.L, PRX.AS	Banking, Electric Vehicles, Europe, Medical Devices, Pharmaceuticals, Trade Policy, value	President Trump's Liberation Day announcement led to significant market volatility, with companies perceived as more exposed to tariffs falling meaningfully while others held up better. The fund actively repositioned during this period, trimming positions that performed well and buying companies where tariff concerns created wider discounts to intrinsic value.	DSV.CO BNP.PA BMW.DE BDX IQV BAYRY	View
2025 Q2	Jun 30, 2025	Oakmark Global Fund	6.0%	-	3626.T, ADS.DE, AHT.L, AKZA.AS, ALV.DE, BAYN.DE, BDX, BMW.DE, BNP.PA, BUD, COP, DSV.CO, FI, IQV, KDP, LBRDK, LLOY.L, MOH	financials, global, healthcare, industrials, Logistics, Trade Policy, value	President Trump's Liberation Day announcement led to significant market volatility with companies perceived as more impacted by tariffs falling meaningfully while others held up better. The fund used this volatility to trim positions that performed well and buy companies where the discount to intrinsic value widened significantly.	MOH KDP BNP.PA BMW.DE AHT.L ADS.DE BDX DSV.CO	View
2024 Q1	May 7, 2024	Third Avenue Value Fund	1.2%	0.0%	6856.T, BIRG.L, BMW.DE, BZU.MI, C6B.SI, CAPS.TO, DB, EZJ.L, G13.SI, HBR.L, HCC, IFP.TO, LUN.TO, MBG.DE, ORI, SFOR.L, SUBC.OL, TDW, VAL	Banking, Buybacks, contrarian, Copper, dividends, Europe, value	Fund focuses on buying significantly undervalued, well-financed businesses run by honest and competent people. Manager emphasizes price-conscious, fundamental value investing approach that has become less competitive due to industry shift toward growth strategies.	HBR.L BOIG.L	View
2025 Q1	May 22, 2025	Goehring & Rozencwajg Associates, LLC	-	-	AAPL, AMZN, AR, BMW.DE, CCJ, CVX, FANG, GOOGL, IMPUY, META, MSFT, NFLX, NVDA, OXY, PXD, RRC, SBSW, SHOP.TO, TSLA, XOM	commodities, Drought, energy, gold, Mining, natural resources, Platinum, Shale	The bear market in platinum and palladium is drawing to a close after 16 years for platinum and 4 years for palladium. Demand shifts favor PGMs as EV adoption disappoints and hybrid vehicles require more PGMs than traditional ICE vehicles. Both markets are in structural deficit with supply constraints from South Africa and declining recycled supply.		View
2025 Q1	Apr 4, 2025	Vltava Fund	-	-	ABG, AMAT, ATD, BMW.DE, BN, BRK-A, CVE, JPM, LRCX, MKL, NVR, OSB.L, QUCO.MX, STLA, URI, WSM	Berkshire, Capital Allocation, Intrinsic Value, long-term, Quality, Speculation, value	Manager emphasizes long-term value investing approach focused on companies trading below intrinsic value with high returns on capital. Portfolio demonstrates value principles through holdings like Berkshire Hathaway purchased at significant discount to book value.	URI BRK-A	View
2024 Q1	Apr 24, 2024	Titan Wealth	-	-	AAPL, ABNB, ADBE, ALNY, BMW.DE, DBX, DIS, EBAY, ETSY, EW, GOOGL, GSK, META, MSFT, NFLX, NKE, ORCL, STLA, TSLA, V	diversification, emerging markets, healthcare, inflation, Multi-Asset, rates, technology	Technology sector performance driven by AI excitement continues to support markets. The combination of falling rates and excitement around AI's potential to boost long-term productivity growth and margins provides a powerful tailwind for equities.		View
2023 Q1	Apr 20, 2023	Titan Wealth	-	-	BMW.DE, JNJ, LVMH.PA, ORCL, PTC, RHHBY	AI, Banking, demographics, Energy Transition, geopolitics, healthcare, inflation, technology	Heightened geopolitical tensions including US-China spy balloon incidents, Russian invasion of Ukraine, and China's military expansion with potential Taiwan invasion by 2027. This backdrop increases market volatility and supports elevated inflation.		View
2025 Q1	Apr 17, 2025	Titan Wealth	-	-	AAPL, ADBE, AMD, AMZN, AVGO, BIO, BMW.DE, EBAY, EL, EOAN.DE, ETSY, HEIA.AS, JPM, LLY, MT, NKE, NVDA, RWE.DE, STLA, V	AI, ETFs, Europe, infrastructure, tariffs, technology, Utilities	The ongoing rise of Exchange Traded Funds has significantly altered equity market structure, with the top 10 companies now accounting for around 20% of the MSCI World Index. This dominance is driven by passive investment flows, creating both challenges and opportunities for active managers.		View
2023 Q1	Mar 31, 2023	Platinum International Fund	5.4%	5.4%	000338.SZ, 005930.KS, 051910.KS, 2318.HK, 6479.T, 700.HK, 9961.HK, AIR.PA, ALLFG.L, ASML, BAYN.DE, BEZ.L, BKNG, BMW.DE, GLEN.L, ICE, IFX.DE, MCHP, MU, SLB, STJ.L, TRU, UPM1V.HE, WIZ.L	Banking Crisis, China, contrarian, global, interest rates, value	Travel-related investments were key contributors to performance as the travel sector continued its post-COVID boom. Wizz Air gained 56% and Booking Holdings rose 32% over the quarter.		View
2023 Q1	Mar 31, 2023	Platinum Global Fund (Long Only)	9.7%	9.7%	005930.KS, 0700.HK, 2057.HK, 2338.HK, 6588.HK, 6954.T, AIR.PA, ALLFG.L, BKNG, BMW.DE, EBS.VI, EQNR, IFX.DE, INF.L, ISP.MI, MCHP, MU, NXPI, SLB, STJ.L, TCOM, TRU, UPM.HE, WIZZ.L	Banking, China, Europe, Recovery, semiconductors, Travel	European ultra-low-cost airline Wizz Air was the largest contributor with 56% gains as air travel demand and pricing continued rising post-COVID. Gains also seen in Booking Holdings, Trip.com and Airbus as the travel sector recovery continued.		View
2023 Q1	Mar 31, 2023	Platinum International Brands Fund	6.6%	6.6%	0700.HK, 1448.HK, 2502.T, 3690.HK, 5938.T, BFIT.AS, BMW.DE, GOOGL, HLN.L, JD, META, MWG.HM, NIEN.TW, PNDORA.CO, SMCP.PA, TCOM	China, Consumer Brands, demographics, E-Commerce, Reopening, Travel	Chinese holdings experienced weakness through most of the quarter after initial strength, with concerns about competitive intensity in e-commerce and weaker-than-hoped economic data. The manager remains constructive about the reopening opportunity and expects recovery in birth rates and travel to drive demand for baby-related products and tourism services.		View
2024 Q3	Oct 8, 2024	Mawer International Equity Fund	6.9%	16.0%	3064.T, 6532.T, 9433.T, AON, ASM, ASML, BMW.DE, BNZL.L, CIGI.TO, CME, CPG.L, DG, EL, GRT.UN.TO, IAG.TO, ICE, MC.PA, NKE, NVO, ZZZ.TO	AI, China, consumer, international, Japan, rates, real estate	Central banks began cutting interest rates with the Fed making its first cut in September, joining the Bank of Canada and others. Interest rate sensitive sectors like real estate, utilities, and financials performed well as rates declined. The easing cycle provided relief for households and businesses struggling with higher rates.		View
2023 Q3	Oct 25, 2023	Third Avenue Value Fund	1.2%	0.0%	BIRG.L, BMW.DE, CS.TO, DB, EZJ.L, HCC, SUBCY, TDW, UGP, VAL	Coal, contrarian, Cyclical, distressed, energy, Offshore, value	The fund focuses on identifying companies trading at distressed valuations without actual operating or financial distress. The manager emphasizes buying companies at low multiples when earnings are temporarily depressed, creating positive asymmetry where operating performance is more likely to improve than deteriorate.		View
2025 Q3	Oct 21, 2025	Third Avenue Value Fund	11.9%	-	7270.T, AC.TO, BCC, BIRG, BMW.DE, BZU.MI, CBG.L, CSTCF, DB, EZJ.L, HCC, HEI, IFP.TO, LUN.TO, MBG.DE, ORI, ROG, S4C.L, UGPA3.SA	Banking, contrarian, Copper, Europe, Forecasting, Mining, value	Copper prices have benefited from increasingly tight global supplies, a weak U.S. dollar, breakdown of trust in global trading norms, and operational disruptions at several large copper mines. These dynamics have benefited holdings like Capstone Copper and Lundin Mining, with rising gold prices also helping copper miners that produce gold as a byproduct.	AC ROG BOISE DBK OR HBR LUN CS	View
2024 Q3	Oct 18, 2024	Titan Wealth	-	-	1972.HK, 300750.SZ, 3690.HK, ABNB, BIO, BMW.DE, CRM, DEO, DIS, EBAY, EL, EW, GOOGL, HEIA.AS, HLN.L, LVMH.PA, MA, META, MSFT, NFLX, NVDA, ORCL, PYPL, SNY, STLA, TMO, UL	emerging markets, global, healthcare, income, Multi-Manager, Rate Cuts, technology	Long-term theme of emerging global middle class remains intact despite recent underperformance. Emerging economies outpacing developed world on output-per capita basis with faster earnings expansion, better margins, less debt, and cheaper valuations. Chinese stimulus measures helping lift emerging market positions.		View
2023 Q3	Oct 16, 2023	Smead International Value Fund	0.7%	11.6%	BAWG.VI, BKT.MC, BMW.DE, CVE.TO, FRO, GOOS.TO, IFP.TO, MEG.TO, NXT.L, OXY, P911.DE, PAH3.DE, PNDORA.CO, SMWH.L, TGA.L, UCG.MI, VOW3.DE, WFG.TO, WHC.AX	Banking, Coal, Currency, energy, interest rates, international, value	The fund views rising interest rates as a major risk affecting all asset classes, not just bonds. They believe the 30-year Treasury hitting 5% creates significant interest rate risk that most investors underestimate. The fund seeks to avoid this risk through specific positioning choices.		View
2023 Q3	Oct 16, 2023	Titan Wealth	-	-	AMZN, BMW.DE, BRKR, ILMN, REGN, STLA	Central Banks, Energy Transition, fixed income, Global Equities, inflation, Multi-Asset, Portfolio Management	The firm discusses significant challenges in the renewable energy space, particularly offshore wind, with equipment manufacturers struggling with rising costs and quality issues. Despite near-term volatility, they maintain conviction that the energy transition remains on track over a 30-year timeframe, with underlying activity robust across the sustainable energy value chain.		View
2025 Q4	Jan 22, 2026	Third Avenue Value Fund	7.4%	35.2%	0001.HK, 2603.TW, 6951.T, 6955.T, BIRG.L, BMW.DE, BZU.MI, CMA, CS, DB, HBR.L, HCC, IFP.TO, LUN.TO, SFOR.L, SSUB.OL, SUBCY, TDW, VAL	Banking, Copper, energy, Europe, Mining, Resource Conversion, value	Fund holds significant positions in copper miners Lundin Mining and Capstone Copper, viewing copper as indispensable to modern economies with exceptional supply challenges. Manager believes copper demand growth has evolved from Chinese construction to renewables, electric transportation, and data center construction, while supply increases remain elusive due to aging mines, declining ore quality, and decade-plus timelines for new projects. Warrior Met Coal was the single largest contributor to Fund performance during the quarter, benefiting from early completion of Blue Creek metallurgical coal mine eight months ahead of schedule. The completion portends far higher coal production, much lower capital spending, and likely return to significant cash distributions to shareholders. Manager discusses the materials-intensive nature of renewable energy infrastructure, noting the irony that mining companies producing materials for solar panels, wind turbines, electrical grids, and batteries were deemed global pariahs while renewable energy companies were market darlings. The build out of data centers and electrical infrastructure has become entwined with copper consumption growth. Fund holds offshore oil and gas service providers and one upstream producer, believing more offshore spending is required to maintain current production levels. Manager notes U.S. onshore production growth has slowed significantly due to lower drilling activity, exhaustion of Tier 1 acreage, and water challenges, potentially leading to future production declines that would enhance the importance of long-life offshore production. Manager highlights a profound divergence in U.S. sanctions activity, noting recent seizure of dark fleet oil tankers, arrest of Nicolas Maduro, U.S. claim of control over Venezuela's energy industry, and sanctions on Russia's largest oil producers. This marks a departure from decades of avoiding sanctions that would impact energy flows, with gunboat diplomacy and military embargos returning. Manager emphasizes resource conversion activity including share buybacks as a key component of their investment approach for undervalued, well-financed companies. The Fund focuses on companies where management teams can create shareholder value through buybacks, recapitalizations, special dividends, asset disposals, spin-offs, acquisitions, or sale of the business.		View
2024 Q3	Sep 30, 2024	Third Avenue Value Fund	1.2%	0.0%	6856.T, 7270.T, BIRG, BMW.DE, BZU.MI, CKHUY, CMA, CPSCF, DB, EZJ.L, LAZ, MBG.DE, SUBCY, TDW, TM, VAL, WMC	Autos, Buybacks, global, Offshore Energy, undervaluation, value	Manager discusses the persistent valuation chasm between cheap and expensive companies in U.S. equity markets, noting that multiples assigned to the least expensive quartile actually declined from 2014-2024. The fund continues to find attractive value in several automotive industry OEMs and other sectors despite the challenging environment for value investing.	7270.T	View
2024 Q2	Jul 19, 2024	Third Avenue Value Fund	1.2%	0.0%	6856.T, 7433.T, BIRG.L, BMW.DE, BZU.MI, CBG.L, CSAV.SN, CSTCF, DB, EZJ.L, HA, HBRG.L, HCC, LUMI.TO, SFOR.L, SUBCY, TDW, UGP, VAL	Balance Sheet, Banking, Financial Wherewithal, Japan, rates, value	The fund employs a balance sheet-focused value investing approach emphasizing financial wherewithal, seeking companies that can endure challenges without value-destructive activities. This approach has produced 220 basis points of outperformance relative to the MSCI World Index since inception 34 years ago.	CBG.L 7433.T	View
2023 Q2	Jun 30, 2023	Oakmark International Fund	8.8%	0.0%	6098.T, BABA, BMRI.JK, BMW.DE	Asia, Autos, Banking, China, E-Commerce, Europe, international, value	BMW demonstrated strong performance with improved product mix, disciplined pricing, and premium positioning. The company is making excellent progress in electrification with battery-electric vehicles increasing 112% year-over-year to 11% of volumes, targeting 15% by 2023 and over 50% by 2030.	6098.T BMRI.JK BABA BMW.DE	View
2025 Q1	Mar 31, 2025	Third Avenue Value Fund	2.9%	2.9%	5285.T, 6856.T, 6951.T, 7270.T, BIRG.L, BMW.DE, CBG.L, CSCU.TO, DB, EZJ.L, G13.SI, HBR.L, HCC, ORI, SFOR.L, SUBC.OL, TDW, VAL	defense, energy, Europe, inflation, Japan, tariffs, Trade Policy, value	The manager extensively discusses the global tariff war initiated on Liberation Day (April 2, 2025), describing it as an economic mistake with lasting negative implications. He analyzes the reciprocal tariff structure, challenges of eliminating trade deficits, and the breakdown of trust and predictability affecting corporate investment decisions.	6951.T	View
2023 Q4	Jan 31, 2024	Third Avenue Value Fund	1.2%	0.0%	ASHM.L, BIRG.L, BMW.DE, BOLSAA.MX, BZU.MI, CMA, CS.TO, DB, EZJ.L, HMC.T, HMT, HTHPF, SFOR.L, SUBCY, TDW, UGPA3.SA, VAL	Banking, Buybacks, Electric Vehicles, global, interest rates, value	The Fund carried a weighted average price to earnings ratio of approximately 8.2x as of year-end, positioning in attractive businesses without relaxing criteria for balance sheet strength or liquidity. The manager highlights how cheap stocks have become even cheaper while expensive stocks experienced valuation expansion.	BOLSAA.MX BMW.DE CMA S4C.L	View
2024 Q4	Jan 28, 2025	Third Avenue Value Fund	-9.6%	-2.5%	6856.T, 7270.T, 7433.T, AAPL, AMZN, BIRG.L, BMW.DE, BZU.MI, CBG.L, CMA, CS.TO, DB, EZJ.L, GOOGL, HCC, HRB.L, LAZ, LUN.TO, MBG.DE, META, MSFT, NVDA, ORI, SUBCY, TDW, TSLA, UGP	Active Share, Autos, Concentration, global, small caps, value	The fund has significant exposure to traditional automakers BMW, Mercedes-Benz, and Subaru, which the manager views as extremely undervalued despite facing challenges from higher interest rates, electric vehicle transition, Chinese competition, and potential tariffs. The manager argues these companies are adapting well and trading at distressed valuations despite strong fundamentals.	7270.T MBG.DE BMW.DE	View
2023 Q1	Jan 4, 2023	Vltava Fund	0.0%	0.0%	ABG, ATD, BMW.DE, BRK-B, JUNGF, MGA, MKL, NVR, QCPOF, SUS.L, WSM	Buybacks, Capital Allocation, dividends, Switzerland, Tourism, value	Share buybacks are viewed as potentially the best use of capital when executed at prices below intrinsic value, creating wealth transfer from selling shareholders to remaining ones. The manager prioritizes companies that place buying back shares at attractive prices at the top of their capital allocation considerations, with about 80% of the portfolio comprised of such companies.	JUNGN.SW CMG.TO	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	Third Avenue Value Fund	BMW AG	Consumer Discretionary	Automobile Manufacturers	Bull	XETRA	cash generation, dividend, Electric Vehicles, German, Luxury Automotive, Premium Brand, Value	View Pitch
Apr 28, 2026	Fund Letters	Oakmark International Fund	BMW AG	Consumer Discretionary	Automobile Manufacturers	Bull	XETRA	Automotive Manufacturing, Battery-Electric, EBIT margin, Electric Vehicles, Electrification Strategy, Germany, luxury automobiles, Premium Brand, Premium Positioning, Product Mix	View Pitch
Apr 13, 2026	Fund Letters	Oakmark Global Select Fund	Bayerische Motoren Werke AG	Consumer Discretionary	Automobile Manufacturers	Bull	XETRA	Brand Equity, Electric Vehicles, EV Platform, Germany, Localization, Luxury Cars, Premium Automotive	View Pitch
Apr 13, 2026	Fund Letters	Oakmark Global Fund	Bayerische Motoren Werke AG	Consumer Discretionary	Automobiles	Bull	XETRA	Brand Equity, China, Electric Vehicles, Germany, Localization, Luxury Cars, Neue Klasse, Premium Automobiles, tariffs	View Pitch
Apr 13, 2026	Fund Letters	Third Avenue Value Fund	Bayerische Motoren Werke AG	Consumer Discretionary	Automobile Manufacturers	Bull	XETRA	Automotive Manufacturing, BEV Transition, capital returns, Electric Vehicles, Equity, German Automaker, luxury automobiles, Share Buybacks, Value Investment	View Pitch

BSD Shareholders of BMW-DE

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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