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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 15, 2025 | GreensKeeper Value Fund | - | -3.6% | AXP, BRK.B, CFR.SW, ELVN, FI, GOOGL, ICE, LLY, MRK, NVO, V, VRTX | AI, GLP1, Luxury, Market Correction, Pharmaceuticals, Speculation, technology, value | Manager emphasizes value investing approach during speculative market conditions, focusing on capital preservation and buying quality companies when they trade below fair value. The fund trims positions trading above fair value while adding to undervalued opportunities. | NVO BRK.B FI CFR.SW GOOGL AXP CFR SW GOOGL AXP |
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| 2025 Q1 | Apr 8, 2025 | GreensKeeper Value Fund | 3.0% | 3.0% | AXP, BRK-B, CFR.SW, CHKP, ELV, FI, GOOG, ICE, ICLR, LULU, SPGI, V, VRTX | Buybacks, financials, healthcare, Quality, technology, Trade Policy, value | Trump's tariff announcement has created significant market volatility, erasing over $6 trillion in market value. The manager views the escalating trade war as potentially damaging to all involved but emphasizes the need to evaluate portfolio company impacts objectively rather than making political investment decisions. | ICLR GOOG CHKP VRTX BRK-B |
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| 2024 Q1 | Apr 15, 2024 | Mayar Capital | 7.7% | 9.6% | 005930.KS, AHT.L, BFAM, BLND.L, BNR.DE, CAP.PA, CFR.SW, EA, GOOGL, JNJ, KVUE, LH, MMM, NTDOY, PYPL, SAP.DE, UL, UPS, VTY.L, VWS.CO | global, Quality, REITs, technology, value | The fund emphasizes buying great businesses at reasonable prices with a margin of safety. The manager discusses how conventional wisdom about higher risk equaling higher returns is often wrong, and advocates for conservative approaches that prioritize steady growth with risk mitigation over chasing outrageous returns. | BLND.L |
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| 2025 Q1 | Apr 12, 2025 | Longleaf Partners International Fund | 0.7% | 0.7% | 1910.HK, AC.PA, CFR.SW, CUERVO.MX, DPZ.L, ERF.PA, GLB, GRUMA.MX, HDFCBANK.NS, HTHT, JFC.PS, LXS.DE, MILC.ST, PFD.L, PRN.L, TCEHY | AI, defense, Europe, geopolitics, international, SMID Cap, tariffs, value | US President Trump announced reciprocal tariffs under the International Emergency Economic Powers Act, with baseline 10% tariffs on all countries and higher rates for specific nations including 34% for China and 20% for the EU. This represents a simultaneous trade war against all key economies globally and has caused sharp selloffs in equity markets. The fund has consciously repositioned to more domestically focused names to avoid geopolitical risks. | 1910.HK JFC.PS CUERVO.MX GLB.L CFR.SW LXS.DE PRX TIGO |
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| 2024 Q4 | Dec 31, 2024 | Minot Light Capital Partners | 5.2% | - | BYON, CFR.SW, DERM, MYTE, REAL, TDUP, TMDX | Dermatology, E-Commerce, growth, Luxury, Microcap, small caps, Specialty Pharma, value | The fund's largest holding MyTheresa operates in the high-end luxury fashion space and recently acquired YOOX NET-A-PORTER from Richemont. The transaction creates substantial synergies and establishes MyTheresa as a leading curated digital platform for luxury fashion. Management expects the combined legacy MYTE and Mr. Porter brands to generate around $2.2 billion in revenues in 2025. | DERM MYTE |
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| 2024 Q4 | Dec 31, 2024 | Lansdowne Partners European Fund | -1.6% | 7.3% | AHT.L, ASML.AS, CAP.PA, CFR.SW, CPG.L, EL.PA, FER.MC, INF.L, ISP.MI, KBC.BR, LDO.MI, LIN, ML.PA, NOVO-B.CO, REL.L, RTO.L, SAMPO.HE, SHEL.L, SIKA.SW, SU.PA, TEL2B.ST, WTB.L | concentrated, Europe, industrials, materials, value | The fund holds significant exposure to industrial companies including Compass Group, Leonardo, Schneider Electric, and RELX. These companies are experiencing varying performance driven by operational improvements, cost efficiency programs, and market share gains despite challenging end markets. | ML.PA LIN CAP.PA SIKA.SW LDO.MI EL.PA CPG.L |
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| 2024 Q4 | Dec 31, 2024 | Platinum International Fund | 1.0% | 8.0% | 005930.KS, 2318.HK, 700.HK, ALLFG.L, AVGO, CFR.SW, DSV.CO, GOOGL, NICE, TCOM, TM, TRU, TSM, UPM.HE, ZTO | China, global, Long/Short, technology, underperformance, value | Fund holds AI-themed investments primarily in hardware and semiconductor manufacturers that power AI models. Recently added NICE, which provides cloud-based contact centre software with new AI modules that create tangible savings for customers by diverting workloads and assisting in training. | View | |
| 2024 Q4 | Dec 31, 2024 | Platinum Global Fund (Long Only) | 1.0% | 5.0% | 005930.KS, ALLFG.L, AVGO, CFR.SW, DSV.CO, GOOGL, NICE, SLB, STJ.L, TCEHY, TCOM, TRU, TSM, UPM-KY.HE, VLO, ZTO | AI, China, global, Luxury, technology, underperformance | Fund holds AI-themed investments primarily in hardware/semiconductor manufacturers who will power AI models. NICE provides cloud-based contact centre software with AI modules that create tangible savings for customers. Broadcom's custom AI chip division serves players like Google and Meta with revenue expected to rise to $40-50bn by 2027. | View | |
| 2024 Q4 | Dec 31, 2024 | Platinum International Brands Fund | 12.0% | 21.0% | AAPL, AMER, AMZN, BIRK, CFR.SW, ELF, GOOGL, HLN.L, ITX.MC, JD.L, META, NIKE, PAN.CO, PUMA.DE, SJP.L, TCOM, ZTS | Beauty, brands, consumer, global, Luxury, Travel | The luxury industry is in recession as the Covid boom has turned to bust, starting with a fall away in the US and European aspirational buyer, followed by a 30% fall in Chinese demand. Despite the downturn, Richemont's jewellery houses continue to grow while most other luxury houses saw declines. | View | |
| 2023 Q3 | Dec 10, 2023 | Longleaf Partners Global Fund | 14.8% | 18.4% | 0001.HK, CFR.SW, CNX, DHER.DE, FBHS, FDX, FIS, GE, GLB, HAS, IAC, MAT, MGM, PRX.AS, WBD, WMG | Concentration, discount, global, Quality, value | The fund emphasizes trading at 12.5x P/E on not yet optimized earnings versus mega-cap stocks at 29x P/E. Portfolio has price-to-value ratio in low-60s% offering meaningful upside potential. Fund owns high-quality businesses at discounted valuations. | NWBD.L DHER.DE IAC AMAT CNX |
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| 2023 Q3 | Nov 10, 2023 | East72 Holdings | 6.3% | 0.0% | CFR.SW, CHTR, LBRDK, MANU, PAH3.DE, SPHR, VIRT, VOW3.DE | Complexity, Conglomerates, Discounts, Europe, value | Extensive analysis of Virtu Financial as a liquidity provider in financial markets, discussing market making business model, regulatory challenges from SEC proposals, and competitive dynamics in off-exchange trading. Manager views current regulatory uncertainty as creating opportunity despite near-term headwinds. | VIRT DIEPA.BR |
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| 2025 Q3 | Oct 23, 2025 | Semper Augustus | 3.3% | 19.7% | AHT.L, BF-A, BRK-A, CFR.SW, CMCSA, DASH, GOOGL, HEIA.AS, JPM, MA, MLM, NFLX, NSRGY, NVDA, PM, RI.PA, UBER | AI, Brand Loyalty, Concentration, Consensus, global, long-term, Value Investing | AI represents a transformative investment opportunity requiring massive capital deployment in semiconductors, data centers, and infrastructure. The manager discusses NVIDIA's central role in AI development through GPU technology, Google's AI capabilities, and the broader ecosystem of companies benefiting from AI infrastructure buildout including construction materials and equipment providers. | NESN SW PM GOOG |
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| 2025 Q3 | Oct 20, 2025 | Baillie Gifford -International All Cap | 1.0% | 13.6% | 000333.SZ, 005930.KS, 0388.HK, 0700.HK, 1299.HK, 300750.SZ, 4519.T, 4612.T, 4911.T, 6098.T, 6273.T, 669.HK, 6861.T, 7733.T, 7741.T, 7980.T, 8035.T, 8113.T, ABI.BR, ADYEN.AS, AHT.L, AI.PA, ASML, ASSA-B.ST, ATCO-A.ST, AUTO.L, B3SA3.SA, BHP, BIM.PA, BNZL.L, CABK.MC, CFR.SW, DSV.CO, EPIROCK-A.ST, EXO.MI, EXPN.L, FEMSAUBD.MX, GAW.L, GRG.L, HDB, IMCD.AS, INVEB.ST, ITRK.L, JMT.LS, LONN.SW, MC.PA, MELI, NEM.DE, PRX.AS, RADL3.SA, RCO.PA, RMV.L, ROG.SW, RYA.L, SCT.L, SEB-A.ST, SIK.SW, SOI.PA, SPOT, SPX.L, TRN.L, TSM, TTE, UBS, UL, UOB.SI, WALMEX.MX, WEIR.L, WISE.L | AI, Asia, Europe, growth, healthcare, international, semiconductors, technology | Artificial Intelligence remained a dominant theme during the quarter, with several perceived beneficiaries rallying. Rising demand for AI-related chips is pressuring customers to push into more advanced nodes and adopt EUV technology. The rapid adoption of AI applications and high-performance computing is driving unprecedented orders for leading-edge technologies. | View | |
| 2025 Q3 | Oct 19, 2025 | EdgePoint Global | - | - | 6702.T, AAPL, ALFA.ST, AME, AMG, AMS.PA, AMZN, APO, ATD.TO, AVGO, BAC, BAES.L, BERY, BKNG, BN.TO, CFR.SW, CSX, ELV, FFH.TO, FLS, FNV.TO, GIB.A.TO, GOOGL, ICE, JLL, LECO, MAT, META, MIDD, MMC, MSFT, MSI, NFLX, NSC, NVDA, PEY.TO, PM, PSMT, QCOM, QSR, RBA.TO, ROST, SAF.PA, SAP, TEL, TSM, UNVR, VRTX | active management, AI, Concentration, global, Quality, technology, value | Artificial intelligence represents a transformative technology creating a bubble in large U.S. tech companies. The enthusiasm has fueled concentration in the Mag 6 companies, but history shows early winners are difficult to identify and competition eventually erodes returns. | Franco-Nevada Corporation Mattel Inc. SAP SE TE Connectivity plc AMA SM |
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| 2024 Q3 | Oct 16, 2024 | Longleaf Partners International Fund | 11.2% | 10.4% | 0700.HK, 1726.HK, 6498.T, AC.PA, CFR.SW, CUERVO.MX, DHER.DE, ERF.PA, GLB.L, HDB, JFC.PS, MLCO, PFD.L, PRX.AS, TCOM, TIGO, UBER | China, Concentration, Food, international, value, volatility | Chinese government introduced fiscal and monetary measures to support property sector and equity markets, exceeding market expectations. Beijing stepped in with counter-cyclical policy measures as 5% GDP growth target came under pressure. Companies in the region are beginning to re-rate as coiled springs with renewed market optimism. | View | |
| 2024 Q3 | Oct 14, 2024 | Mayar Capital | 7.7% | 9.6% | 005930.KS, 7974.T, ALO.PA, BFAM, CFR.SW, EA, GOOGL, HLCL.L, HWDN.L, JNJ, KER.PA, KVUE, MMM, PYPL, SAP, SOLV, UL, UPS, V, VWS.CO | Esg, global, Manufacturing, Patience, Recovery, value | Visa's business model as a payment network intermediary creates powerful network effects and generates impressive shareholder returns. The ongoing shift towards cashless payments has driven payment volume growth from $4.4 trillion in 2008 to $15.4 trillion in 2023. The company maintains high returns on invested capital averaging 65% over two decades while reducing share count by a third since IPO. | View | |
| 2025 Q4 | Jan 22, 2026 | GCQ Flagship Fund | 0.0% | 2.0% | CFR.SW, FICO, GOOGL, HEMN.ST, MC.PA, NFLX | AI, Monopolies, Quality, real estate, Sweden, value | The fund focuses on high-quality businesses with durable competitive advantages, monopolies and oligopolies, and irreplaceable brands. Quality stocks underperformed in 2025 but the manager believes the long-term advantages of investing in durable, high-quality, cash-generating businesses remains unchanged. The broader market's strength in 2025 was driven by large stocks exposed to the AI thematic. Many AI companies do not pass the fund's quality checklist. The manager expects both market excitement for AI and fears of AI-related disruption will eventually subside. Hemnet operates the dominant real estate advertising portal in Sweden with approximately 90% market share. The Swedish housing market has experienced declining transaction volumes due to rising interest rates and changes in lending practices for bridging loans. | HEM.ST |
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| 2025 Q4 | Jan 18, 2026 | Mayar Capital | 4.5% | 14.1% | 005930.KS, 7476.T, 7974.T, BFAM, BKNG, BNNTF, CAP.PA, CFR.SW, CRDA.L, GOOGL, JNJ, KVUE, NESN.SW, NKE, OR.PA, PYPL, SOLV, TW.L, UL, UPS, V, VWS.CO | defense, fundamentals, global, Quality, Speculation, value | The fund maintains its disciplined value investing approach, focusing on boring companies with durable competitive advantages trading at reasonable prices. The manager emphasizes that fundamentals eventually win out despite current market speculation. The manager identifies significant red flags in circular financing fueling the AI boom, comparing it to vendor financing of the late 90s. Companies like Oracle, OpenAI, Nvidia and CoreWeave participate in arrangements that effectively fund their own customers' purchases. Strategy Inc. (formerly MicroStrategy) serves as a cautionary tale of speculative excess. The stock fell 60% as its premium to Bitcoin holdings evaporated, forcing the company to sell equity to cover preferred dividends rather than buy more Bitcoin. | NKE TW LN BKNG |
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| 2025 Q4 | Jan 15, 2026 | Baillie Gifford – International Alpha | 1.2% | 19.6% | 000333.SZ, 005930.KS, 0700.HK, 1299.HK, 1698.HK, 2318.HK, 2454.TW, 3064.T, 3656.T, 3690.HK, 3994.T, 4612.T, 600519.SS, 6098.T, 6273.T, 6758.T, 6861.T, 7309.T, 7733.T, 7974.T, 8035.T, 8113.T, 8729.T, ADYEN.AS, ASML, ATCO-A.ST, B3SA3.SA, BN.PA, BNTX, CFR.SW, CPA, CPNG, CRH, CSU.TO, DB1.DE, DEMANT.CO, DIM.PA, DSV.CO, DSY.L, EDEN.PA, EXPN.L, FBK.MI, G24.DE, GMKN.ME, HDB, ICICIGI.NS, IMCD.AS, KGP.L, KNEBV.HE, KSPI.L, LMN.TO, LUN.TO, MC.PA, MELI, MIPS.ST, MNDY, NEX.PA, NVO, NVZMY, PDD, RAT.DE, RIO, ROG.SW, RYA.L, SALM.OL, SAP, SDZ.SW, SE, SEB-A.ST, SHOP.TO, SIMO, SJ.TO, SPOT, TFII, TOI.TO, TPRO.MI, TSM, U11.SI, UL | E-Commerce, growth, international, Quality, semiconductors, technology, value | Samsung Electronics passed qualification with Nvidia for HBM3E chips and is in advanced discussions for next-generation products. The memory division reported record third-quarter sales driven by AI demand. Tokyo Electron was added as a new position, benefiting from increasing semiconductor complexity across various end markets. MercadoLibre faced share price volatility reflecting a tug-of-war between accelerating revenue growth and concerns over short-term margin pressure from defending market share in Brazil. Despite disappointing performance, the manager sees substantial growth runway and disciplined long-term management. DSV shares rebounded after geopolitical pressure on global trade. Third-quarter results exceeded expectations with margin improvement and upgraded guidance on DB Schenker acquisition synergies. Management accelerated integration timeline with most savings expected within two years. Lundin Mining was added as a new position, described as a high-quality copper-focused miner with low-cost assets and strong production growth potential. The manager sees an improving demand-supply balance in copper with current valuation not accounting for company quality. | 2454 TT SALM NO 8035 JP LUN CN DSV 005930 KS TME |
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| 2024 Q4 | Jan 12, 2025 | GreensKeeper Value Fund | - | 23.6% | AXP, BRK.B, CBOE, CFR.SW, CHKP, CSCO, ELV, FI, GD, GOOGL, HSY, ICE, LMT, LULU, MC.PA, MRK, SHVA.TA, SPGI, V, VRTX | global, healthcare, insurance, payments, Quality, technology, value | Manager emphasizes purchasing high-quality companies with large margin of safety at material discounts to intrinsic value. Focuses on companies with sustainable competitive advantages and strong economics while avoiding overpriced securities. | View | |
| 2024 Q3 | Sep 30, 2024 | Oakmark International Fund | 8.8% | 0.0% | 005930.KS, BABA, BAYRY, CFR.SW, DEO, FMS.DE, FR.PA, INF.L, RI.PA, RMS.PA, SAP, UHR.SW, WLN.PA | China, Europe, international, Luxury, Spirits, value | The fund holds positions in luxury goods companies including Kering, Richemont, and Swatch. Despite near-term challenges from weak macro developments in China affecting store traffic and new client recruitment, managers believe companies are making correct long-term decisions for brand health and see attractive upside potential. | RI.PA DGE.L KER.PA BABA |
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| 2023 Q3 | Sep 30, 2023 | Diamond Hill International | 5.7% | 12.4% | 7751.T, CFR.SW, CNQ, CPG.L, DNP.WA, FFH.TO, FMFL.NS, FUC.DE, HDFCBANK.NS, HWDN.L, IMO, KCR.HE, SAP.DE, SN.L, WALMEX.MX | Banking, China, energy, Europe, inflation, international, rates, value | Energy names including Canadian Natural Resources, Imperial Oil and Japan Petroleum Exploration Company benefited from rising oil prices in Q3 as WTI crude rose from roughly $71/barrel to $90/barrel. The manager maintains conviction in energy holdings despite anticipated ongoing volatility tied to oil price movements. | 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 Q2 | Aug 8, 2023 | VGI Partners | 0.0% | 0.0% | 7733.T, AMZN, CFR.SW, CME, DB1.DE, DIS, DSMNF, GEHC, ISRG, LSEG.L, MA, PHG, PINS, RHM.DE, SAP, SIE.DE, SLB, SPOT, VG1.AX, XM | Concentration, Exchanges, global, healthcare, Quality, technology, value | VGI holds significant positions in financial exchanges including CME Group, Deutsche Börse, and London Stock Exchange Group. They view these as critical market infrastructure with strong competitive moats and benefiting from increased interest rates through net interest income. | DSM.AS LSEG.L DB1.DE GEHC AMZN CME |
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| 2024 Q2 | Jul 29, 2024 | Mayar Capital | 7.7% | 9.6% | 005930.KS, 7974.T, ALO.PA, BFAM, BLND.L, BNR.DE, CAP.PA, CFR.SW, EA, GOOGL, HLCL.L, JNJ, KER.PA, KVUE, MMM, NESN.SW, PYPL, UL, UPS, VTY.L, VWS.CO, WIX.L | Compounding, Defensive, global, long-term, Quality, value | The fund follows a disciplined value investing strategy, focusing on buying great businesses at reasonable prices with a margin of safety. The manager emphasizes patience and long-term compounding over quick gains, maintaining a tortoise-like approach to investing. | VWS.CO |
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| 2024 Q2 | Jul 23, 2024 | Longleaf Partners International Fund | 11.2% | 10.4% | AC.PA, BABA, CFR.SW, CUERVO.MX, DHER.DE, ERF.PA, EXO.MI, GLB.L, GRUMAB.MX, HDB, JFC.PS, KER.PA, MLCO, PFD.L, PRX.AS, TCOM | Concentration, Elections, fundamentals, international, Quality, value | The fund maintains a concentrated portfolio of 24 holdings with a price-to-value ratio in the mid-60s%, offering meaningful upside potential. The valuation gap between the broader market and their portfolio is at a uniquely high level, reinforcing confidence in their value-oriented approach. | DHER ERF CUERVO PRX HDB TIGO |
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| 2024 Q2 | Jul 23, 2024 | Longleaf Partners Global Fund | 14.8% | 18.4% | AC.PA, AMG, BIO, CFR.SW, CNX, DHER.DE, ENT.L, ERF.PA, EXOR.MI, FDX, FIS, GLB.L, IAC, K, MAT, MGM, PRX.AS, TIGO, VIV.PA, WBD | Buybacks, Europe, free cash flow, global, Margins, technology, valuation, value | The fund trades at a low-60s% price-to-value ratio with holdings at roughly 10 times free cash flow on margins that can improve, while the FTSE Developed trades at 20 times potentially peak free cash flow. This positions investments for growth even in tougher economic times, especially on a relative basis. The valuation gap between the broader market and the portfolio is at a uniquely high level. | DHER.DE ERF.PA BIO FDX PRX.AS MILL.ST |
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| 2025 Q1 | Apr 16, 2025 | East72 Dynasty Trust | 0.5% | 0.5% | 0165.HK, 2588.HK, AVLT.SW, BOL.PA, BORR, CFR.SW, CG, FFH.TO, FLOW.AS, HAL.AS, LPE.PA, MFG.AX, MMB.PA, NVO, ODET.PA, PAH3.DE, SRAD, VIE.PA, VIRT, VIV.PA | Aircraft Leasing, Controlled Companies, European Holdings, Luxury, Regional Aviation, Trade Policy, Value Investing | The fund features extensive analysis of the aircraft leasing industry, particularly focusing on regional aircraft and ATR turboprops. The manager discusses the trillion-dollar industry with limited public market exposure and highlights Avation PLC as a unique specialist lessor with significant optionality through ATR purchase rights. | AVAP.L VIV.PA |
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| 2023 Q1 | Mar 31, 2023 | East72 Holdings | 6.3% | 0.0% | 0001.HK, 2074.SZ, 8TRA.DE, AML.L, BAIN.PA, BOL.PA, CFR.SW, EXO.MI, GOOGL, IVG.MI, IWG.L, LBRDK, LIF.TO, MC.PA, MFG.AX, MSGS, NWSA, P911.DE, PAH3.DE, PSHZF, QS, RACE, UHR.SW, VIV.PA, VOW3.DE | Autos, Battery, Dynasties, Europe, gaming, IPO, Luxury, value | The fund invests in luxury companies with dynastic control, including SBM (Monaco's luxury gaming and hospitality), Richemont, and Swatch Group. These companies benefit from the ultra-rich demographic and have pricing power. The manager views luxury as a defensive growth sector with strong moats. | VOW3.DE BAIN.PA |
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| 2024 Q4 | Jan 18, 2025 | Mayar Capital | -10.0% | -1.5% | 005930.KS, AHT.L, BNR.DE, CAP.PA, CFR.SW, EA, FIMK.L, GOOGL, JNJ, JSG.L, LH, NESN.SW, OR.PA, PYPL, SAP, SOLV, UL, UPS, V, VRS.L | Concentration, global, Quality, technology, Valuations, value | Manager emphasizes investing in high-quality businesses trading at significant discounts to intrinsic value. The fund focuses on boring companies with strong fundamentals and attractive long-term growth prospects at reasonable valuations, contrasting with overvalued technology stocks. | AHT.L MSTR NVDA CSCO |
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| 2023 Q4 | Jan 17, 2024 | Longleaf Partners International Fund | 11.2% | 10.4% | 035420.KS, 1999.HK, 4612.T, AC.PA, BABA, CFR.SW, DHER.DE, DPG.L, EXO.MI, FFH.TO, GLB, GMAB, MLCO, PFD.L, PRX.AS, WHG | Asia, Buybacks, Casinos, China, Europe, Food, Hotels, value | Portfolio focused on high-quality businesses trading at single-digit normalized FCF multiples with strong pricing power. Management emphasizes P/V ratios in high-60s% and disciplined approach to buying discounted companies with margin of safety. | View | |
| 2024 Q4 | Jan 16, 2025 | Longleaf Partners Global Fund | -6.7% | 10.5% | 0700.HK, 4613.T, AC.PA, ACI, AMG, BIO, CFR.SW, CMCSA, CNX, ENT.L, ERF.PA, EXO.MI, FBIN, FDX, FFH.TO, FIS, H, HFC, IAC, K, LYV, MGM, MLCO, PRX.AS, PVH, RKT.L, TCOM, TIGO, WBD, WMG | Buybacks, global, inflation, Media, Natural Gas, Spin-Offs, Trump, value | Fund trades at low-60s% price-to-value ratio with sub-10x price/earnings power multiple, dramatically different than the market. Manager emphasizes fundamental, appraisal-driven research and finding mispriced value outside of the US at the moment. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Longleaf Partners International Fund | Richemont | Consumer Discretionary | Textiles, Apparel & Luxury Goods | Bull | SIX Swiss Exchange | Branded Products, Cartier, China recovery, Equity, Jewelry, Luxury goods, Switzerland, Trough Valuation, Van Cleef | View Pitch |
| Apr 27, 2026 | Fund Letters | Longleaf Partners International Fund | Compagnie Financière Richemont SA | Consumer Discretionary | Textiles, Apparel & Luxury Goods | Bull | SIX Swiss Exchange | brand strength, Cartier, China Reopening, Global Demand, Jewelry, Luxury goods, Switzerland, Van Cleef | View Pitch |
| Apr 13, 2026 | Fund Letters | Longleaf Partners International Fund | Compagnie Financiere Richemont SA | Consumer Discretionary | Textiles, Apparel & Luxury Goods | Bull | SIX Swiss Exchange | Brand Power, Cartier, Emerging markets, Hard Luxury, Jewelry, Store of Wealth, Van Cleef, Watches | View Pitch |
| Apr 13, 2026 | Fund Letters | GreensKeeper Value Fund | Compagnie Financière Richemont SA | Consumer Discretionary | Luxury Goods | Bull | SIX Swiss Exchange | Acquisitions, brand portfolio, Buccellati, Cartier, Jewelry, Luxury goods, Swiss, Van Cleef & Arpels, Vhernier | 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. | ||||||||