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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2023 Q3 | Sep 30, 2023 | Castlebay Investments | - | - | BP, RKT.L, SHEL | earnings, Quality, ROE, United Kingdom, valuation, value | The fund maintains a Quality value investment approach, focusing on companies with high returns on capital and equity. Their quality companies have delivered superior earnings and cashflow growth (69% vs 38% for MSCI UK) but have been overlooked by investors during the rotation to deep value stocks. The fund's quality metrics show 42% ROE vs 14% for the market, and 21% operating margins vs 16%. | RKT.L |
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| 2025 Q2 | Aug 11, 2025 | Fairtree Global Equity Fund | 10.9% | - | 000660.KS, 005930.KS, AMAT, AVGO, BP, FI, GFI, GLEN.L, GOOGL, JD, KASPI.L, LOW, MSFT, NVDA, PDD, PGR, ROST, SYY, UNH, VRT | AI, emerging markets, Europe, Global Equity, semiconductors, tariffs, technology, Trade Policy | The fund maintains significant exposure to AI-related semiconductor demand, particularly through Taiwan positions. AI-driven semiconductor demand continues to drive strong performance in technology holdings, with companies like Nvidia and Broadcom contributing meaningfully to returns. | View | |
| 2025 Q2 | Jul 10, 2025 | Guinness Global Energy | - | 5.3% | BP, CNQ, COP, CVE, CVX, DVN, E, ENB, EOG, EQNR, FANG, GALP.LS, IMO, KMI, OMV.VI, PTR, REP.MC, SHEL, SU, TTE, XOM | dividends, energy, Geopolitical, Natural Gas, oil, Opec, valuation | Oil prices rose sharply intra-month due to Israel-Iran conflict, with Brent reaching $80/bl before falling back to $68/bl. OPEC+ continues increasing production quotas while US shale production growth slows due to lower rig counts and capital discipline. | View | |
| 2025 Q2 | Jun 30, 2025 | Merchant West | - | - | BP, BRK-A, COLB.CO, CVX, DHR, ISRG, NPN.JO, SHEL, SHP.JO, SYK, TTE, XOM | demographics, energy, healthcare, Investment Management, liquidity, policy, South Africa, technology | JSE liquidity has been declining with trading concentrated in fewer stocks. Large asset managers face significant challenges building meaningful positions in illiquid stocks without moving prices. This creates opportunities for boutique managers who can access under-researched small and mid-cap companies. | TTE TTE FP |
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| 2023 Q2 | Jun 30, 2023 | Latitude Global Fund | - | - | AAPL, AMZN, AZO, BP, EQNR, GOOGL, MSFT, SHEL | AI, Capital Cycle, energy, oil, technology, value | Manager acknowledges AI revolution driving tech stock performance but maintains limited exposure due to belief that profits will take years to materialize. Views early stages of disruption as risky, preferring to wait for market clarity similar to mobile phone and eCommerce revolutions. | SHEL EQNR |
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| 2026 Q1 | May 5, 2026 | The Sound Shore Fund | -3.5% | -3.5% | BP, CHKP, CTRA, DIS, EQT, KD, LUV, MRVL, QCOM | active management, energy, large cap, technology, value, volatility | MRVL QCOM |
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| 2024 Q1 | May 30, 2024 | Bramshill Income Performance Fund | - | - | AEM, ARCC, ARLP, BP, BXSL, C, EIX, ENB, EPD, ET, Gold, KNTK, NEP, OCSL, PAA, SCHW, SD, SRE, TSLX, VNOM | BDC, energy, fixed income, gold, inflation, Preferreds, Stagflation | The firm expects continued above-trend inflation due to fiscal dominance, with federal spending at 6% of GDP overwhelming monetary policy effects. They anticipate commodity inflation driven by geopolitical risks and de-dollarization trends affecting oil pricing. | View | |
| 2025 Q1 | May 21, 2025 | Fairtree Global Equity Fund | 1.5% | 1.5% | ABT, AMZN, AVGO, BABA, BID.JO, BP, EVO.ST, GFI, GOOGL, JD, JPM, KO, KSPI.L, MSFT, NVDA, ORCL, PDD, SHEL, TTE | AI, China, E-Commerce, energy, Global Equity, Recession, tariffs, technology | AI-related US companies experienced pronounced volatility following the release of Deepseek, a Chinese Large Language model trained at significantly lower cost but producing similar results to current US models. Chinese companies' advancements in AI have reinforced their position as a significant force in the technology sector. | View | |
| 2025 Q1 | Apr 30, 2025 | Guinness Global Energy | 9.4% | 9.4% | BP, CNQ, COP, CVE, CVX, DVN, E, ENB, EOG, EQNR, FANG, GALP.LS, IMO, KMI, OMV.VI, PTR, REP, SHEL, SU, TTE, XOM | dividends, energy, Geopolitical, global, Natural Gas, oil, value | Oil prices remained robust with Brent averaging $75/bl in Q1 2025, supported by lower supply expectations and geopolitical tensions. The managers believe oil remains good value at around 2.7% of global GDP, well below historical averages. They see potential for higher prices driven by OPEC+ production management and geopolitical supply disruptions. | View | |
| 2024 Q1 | Apr 30, 2024 | Guinness Global Energy | - | 10.2% | BP, CNQ, COP, CVE, CVX, DVN, E, EOG, EQNR, FANG, GALP.LS, IMO, OMV.VI, PTR, PXD, REP.MC, SHEL, SU, TTE, XOM | dividends, energy, free cash flow, Gas, oil, Opec, valuation | Oil prices strengthened in March driven by tighter supply/demand fundamentals, Middle Eastern tensions, and good OPEC+ compliance. Brent rose 16% year-to-date while 5-year forward prices increased 5%. The fund sees oil remaining affordable at current levels, representing only 2.8% of global GDP versus 30-year average of 3%. | View | |
| 2024 Q1 | Apr 15, 2024 | WS Ruffer Total Return Fund | 0.0% | 0.0% | BABA, BP, PFE, RKT.L | Bonds, commodities, Defensive, Geopolitical, gold, inflation, liquidity, Yen | Commodities provided shelter from market volatility with both base and precious metals benefiting from expectations of stronger US economy and potential Chinese economic bottoming. Gold and oil rose together despite typically moving in opposite directions. | View | |
| 2026 Q1 | Mar 31, 2026 | WS Ruffer Total Return Fund | 1.6% | 1.6% | 0019.HK, BABA, BP, COIN | Bonds, Crisis, energy, Geopolitical, Iran, oil, Protection, volatility | View | ||
| 2024 Q4 | Dec 31, 2024 | Latitude Global Fund | - | - | AI.PA, AZO, BAC, BP, COR, DEO, DG.PA, DLTR, FGR.PA, GOOGL, GS, HEIA.AS, IBKR, IMB.L, JPM, KO, MCK, RYA.L, SHEL, SONY, TSCO.L, UL, UNH, V, WEC | Banking, Consumer Staples, Defensive, energy, global, healthcare, value | Strong performance from US banks with Goldman Sachs +52%, JP Morgan +44%, and Bank of America +34%. Banks benefiting from consolidation, technology investments, and potential regulatory improvements under Trump administration. Credit risks remain low with income-driven rather than credit-driven economic expansion. | View | |
| 2023 Q3 | Nov 16, 2023 | Auxier Asset Management | 7.4% | 0.0% | AFL, AIG, AON, BP, BRK-A, COP, CVX, ELV, KR, LLY, MA, MCD, MDT, MMC, MRK, MSFT, NVO, PEP, PM, PSX, SBUX, TRV, TSM, UNH, V, VLO | energy, healthcare, insurance, rates, technology, value | Bond vigilantes emerged as longer-term rates rose due to growing government deficits and defense spending. The current bond bear market is the worst in US history with 30-year bonds down over 50% from 2020 highs. Higher rates are becoming the new normal, ending the era of free money. | View | |
| 2024 Q2 | Nov 7, 2022 | WS Ruffer Total Return Fund | 0.0% | 0.0% | BABA, BP, PFE, ROG.SW | capital preservation, credit, duration, Multi-Asset, oil, Protection, risk management, Yen | Markets display dichotomy with 69% of fund managers considering Magnificent 7 most crowded trade while half expect large-cap US growth to lead higher. Positioning increasingly extreme with leverage involved creates dangerous combination given current valuations. | View | |
| 2023 Q4 | Nov 3, 2024 | WS Ruffer Total Return Fund | 0.0% | 0.0% | BABA, BP, NVDA, PFE, RHHBY | AI, Bonds, China, gold, inflation, liquidity, Multi-Asset, rates | AI-fuelled rally drove markets to new highs with Nvidia's earnings announcement causing a 16% single-day rally. The market jitters around a single company's earnings hints at an unstable trend that could surprise to the downside. | View | |
| 2024 Q3 | Oct 31, 2024 | WS Ruffer Total Return Fund | 0.0% | 0.0% | BAYRY, BP, NEM, PUK | Bonds, Currency, Defensive, fiscal policy, global, inflation, Multi-Asset, Precious Metals | The fund maintains conviction in yen value despite October weakness, re-establishing call options to complement direct exposure. Interest rate convergence between Japan and other central banks expected to support yen strength into 2025. | View | |
| 2024 Q3 | Oct 30, 2024 | Guinness Global Energy | - | 7.8% | 0857.HK, BP, CNQ.TO, COP, CVE.TO, CVX, DVN, E, EOG, EQNR, FANG, GALP.LS, IMO.TO, OMV.VI, PXD, REP.MC, SHEL, SU.TO, TTE, XOM | CashFlow, dividends, energy, Gas, oil, Opec, valuation | Brent and WTI oil prices strengthened in September on OPEC+ supply cuts and declining inventories. Saudi Arabia and Russia extended voluntary production cuts through year-end, keeping markets undersupplied at 1.5m b/day. Global oil inventories declined 300m barrels over six months to late 2022 lows. | View | |
| 2025 Q3 | Oct 19, 2025 | LVS Advisory – Event Driven | - | 10.4% | BP, CW, E, GLNG, LNG, SHEL, TLN, XOM | Argentina, energy, infrastructure, LNG, nuclear, Power Generation | Electricity demand is accelerating due to AI computing surge, electric vehicle adoption, and global middle class growth. Demand for power is growing faster than supply, creating a nearly 50-gigawatt deficit over the next 5 years. This trend is driving higher electricity prices and incentivizing new power plant construction. | View | |
| 2025 Q3 | Oct 19, 2025 | LVS Advisory – Growth | - | 15.7% | BP, CW, E, GLNG, LNG, SHEL, TLN, XOM | Electricity, energy, infrastructure, LNG, Natural Gas, Power Generation | Electricity demand is accelerating due to AI computing surge, electric vehicle shift, and rising global middle class. Demand is growing faster than supply, with estimates showing a nearly 50-gigawatt deficit over the next 5 years in the US. This creates a powerful investment thesis for power generation businesses. | View | |
| 2025 Q3 | Oct 14, 2025 | Guinness Global Energy | - | 14.2% | BKR, BP, COP, CVE, CVX, E, EOG, EQNR, FANG, GALP.LS, HAL, OMV.VI, REP.MC, SHEL, SLB, SU, TTE, VLO, WMB, XOM | energy, global, Natural Gas, oil, Opec, Russia, Ukraine | Oil prices remained mixed in September with WTI falling slightly while Brent stayed flat. Ukrainian attacks on Russian oil infrastructure and OPEC production decisions continue to drive price volatility. The fund expects oil prices to move higher over the next twenty years due to population growth, developing world industrialization, and diminishing fossil fuel supplies. | EOG REP SM HAL VAL |
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| 2025 Q4 | Jan 21, 2026 | Guinness Global Energy | 0.0% | 9.0% | BP, CNQ.TO, COP, CVX, FANG, SHEL, SU.TO, TTE, VLO, XOM | energy, Exploration, Gas, Integrated, oil, Production | The letter positions global energy equities as long-term beneficiaries of population growth, industrialization, and constrained fossil fuel supply, which together support structurally higher energy prices. Energy companies are viewed as a partial hedge against inflation given their linkage to real assets and commodity pricing. A disciplined, value-biased approach combines top-down energy market analysis with bottom-up stock selection in a concentrated portfolio of large, established energy producers. | View | |
| 2023 Q3 | Sep 30, 2023 | Vanguard International Value Fund | -5.4% | 6.3% | 005490.KS, 005930.KS, 0700.HK, 1398.HK, 1821.HK, 2331.HK, 2688.HK, 6146.T, AIR.PA, ASML, BABA, BBDC4.SA, BP, CFR.SW, HOLN.SW, HSBA.L, MC.PA, MLCO, NOVOB.CO, PBR, ROG.SW, RYA.L, SHEL, TSM, ZEEL.NS | Developed Markets, Diversified, emerging markets, international, value | The fund employs fundamental, value-oriented investment process seeking undervalued stocks from non-U.S. markets. Investment advisors use fundamental research to construct portfolios of undervalued stocks in developed and emerging markets. ARGA's investment philosophy is based on the belief that investors overreact to short-term developments, leading to opportunities to generate gains from investing in good businesses at great prices. | View | |
| 2023 Q3 | Sep 30, 2023 | WS Ruffer Total Return Fund | 0.0% | 0.0% | BABA, BP, C, COTY, EWBC, JXN, RYA.L | Bonds, capital preservation, global, Multi-Asset, rates, risk management | Fund positioned for falling interest rates by adding bond duration in recent months, taking advantage of compelling valuations with US ten year real yields reaching 2.5%. The November rally in fixed income was the largest contributor to returns as bonds experienced their best monthly return since 2008. | View | |
| 2024 Q2 | Jul 31, 2024 | Guinness Global Energy | 0.0% | 10.3% | BP, CNQ, COP, CVE, CVX, DVN, E, EOG, EQNR, FANG, GALP.LS, IMO, OMV.VI, PTR, REP.MC, SHEL, SNP, SU, TTE, XOM | dividends, energy, Free Cash, global, Natural Gas, oil, Opec, valuation | Oil prices strengthened in June with WTI closing at $81.5/bl and Brent at $87/bl. OPEC+ maintained production quotas while aspiring to add spare capacity back in 2025. The managers see oil demand growth of 1.0-1.3m b/day in 2024, with aviation being a key driver as global flights are now 13% above 2019 levels. | View | |
| 2023 Q1 | May 4, 2023 | St. James Investment Company | 0.0% | 0.0% | AAPL, AMC, AMD, AMZN, BAC, BBBY, BP, CRM, GE, GOOGL, HEI, META, MKL, MSFT, NVDA, TSLA | Market cycles, Patience, risk management, Speculation, Valuations, Value Investing | The manager extensively discusses elevated market valuations, comparing current market cap to GDP ratio at 155% to historical peaks in 2000 and 2008. They argue that starting valuations are critical to long-term success and current levels suggest poor future returns of only 3-5% annually. | View | |
| 2022 Q4 | Jan 3, 2023 | Goehring & Rozencwajg Associates, LLC | 0.0% | 0.0% | BKEN, BP, DUK, ECCE, PR | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Seeking Alpha | Seeking Alpha | BP p.l.c. | Energy | Oil & Gas Integrated | Bear | New York Stock Exchange | analyst target, BP, buyback suspension, dividend yield, earnings catalyst, gap trading, new CEO, oil price, Options Strategy, shareholder revolt | 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. | ||||||||