COLPF Archives

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q4	Jan 9, 2026	Fundsmith Equity Fund	0.0%	0.0%	AAPL, ADP, AMZN, BF-B, CHD, COLPF, EL.PA, FTNT, GOOGL, IDXX, INTU, META, MSFT, NVDA, NVO, PEP, PM, TSLA, WKL.AS, ZTS	AI, Concentration, Index Funds, Performance, Quality, technology, valuation	Major tech companies are in an arms race to build AI capacity through massive capital expenditure on GPU chips and data centers. Whether this spending produces adequate returns remains an open question, with companies like Apple potentially benefiting by avoiding the race and leveraging others' infrastructure. Index funds now hold over 50% of US equity fund assets, creating momentum-driven buying that distorts markets. This passive investing creates a multiplier effect where $1 of flows can move stock prices by 5.5x, benefiting large index constituents regardless of fundamentals. Weight loss drugs are having a lasting impact on consumer behavior, directly affecting companies in snacks and alcoholic beverages. The manager sold positions in Brown-Forman and PepsiCo due to reduced appetites from these medications. The fund maintains focus on companies with high returns on capital (31% ROCE), strong margins (62% gross, 28% operating), and consistent cash conversion (94%). These quality metrics remain superior to broader market indices despite recent underperformance.		View

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
No pitches found.

BSD Shareholders of COLPF

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

COLPF

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Letters With This Ticker

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BSD Shareholders of COLPF

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