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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Jul 9, 2024 | Mawer International Equity Fund | 6.9% | 16.0% | AI.PA, ASML, DOL.TO, EDEN.PA, GOOGL, IPS.PA, MC.PA, MSFT, NKE, NVDA, PET.TO, RELX, TSM, VRSK, WKL, ZZZ.TO | AI, consumer, global, semiconductors, technology, valuation | AI-related companies drove market strength in Q2, with semiconductor holdings like TSMC, ASM International, and ASML benefiting from technological advantages and high barriers to entry. Companies with access to large amounts of proprietary data including Verisk Analytics, RELX, and Wolters Kluwer also performed well. However, Mawer warns of potential over-exuberance in AI valuations and notes the mismatch between timing of investment and returns may create future opportunities. | View | |
| 2025 Q3 | Oct 16, 2025 | Polaris Global Equity | 5.0% | 18.5% | 000660.KS, 005930.KS, 055550.KS, 5019.T, 6758.T, 8306.T, 8591.T, ABBV, ALSN, BARRY.SW, BPOP, CAP.PA, CG, CVS, DHL.DE, DTG.DE, ELV, GD, IAG.L, IPS.PA, JAZZ, LKQ, LNTH, LUN.TO, MEOH, MG, MKSI, MNDI.L, MPC, NEE, PUB.PA, SBH, SLM, UNH, UTHR, VIPS | AI, Energy Transition, financials, global, healthcare, semiconductors, Trade Policy, Valuations | The current two-speed economy is characterized by a narrow AI-driven boom versus subdued growth across most other industries. Just seven mega-cap U.S. tech stocks drove nearly 60% of the S&P 500 gains in 2025 to date. The frothy valuations in the AI tech sector should make investors cautious, as concentrated indices could face material correction if the AI boom busts. | View | |
| 2024 Q2 | Jun 30, 2024 | Polaris International Equity | 5.8% | 10.1% | 000270.KS, 000660.KS, 005380.KS, 055550.KS, 066570.KS, 2338.HK, 8001.T, 8002.T, ANTO.L, BARN.SW, DG.PA, DNB.OL, DTG.DE, FTK.DE, GNC.L, IPS.PA, JAZZ, LUN.TO, MEOH, MG, MUV2.DE, NOVN.SW, OTEX, PUB.PA, SVEG.OL, TEP.PA, U11.SI, YAR.OL | AI, Asia, Copper, Europe, international, materials, technology | Copper prices increased over 20% from mid-February to late May due to tight supply and high demand from energy transition applications such as electric vehicles, as well as artificial intelligence and automation. Lundin Mining and Antofagasta PLC benefited from these copper trends. | View | |
| 2023 Q4 | Jan 18, 2024 | Polaris Global Equity | 6.9% | 12.7% | 000270.KS, 000338.SZ, 000660.KS, 005930.KS, 6758.T, 7267.T, AD.AS, ALSN, AMC, BERY, BPOP, BWY.L, COF, ENI.MI, GD, HNR1.DE, IBOC, IPS.PA, JAZZ, KGX.DE, MSFT, MUV2.DE, NOV, NOVN.SW, NXT.L, PUB.PA, SBH, SDZ.SW, SKG.L, SLM, TW.L, WBS, YAR.OL | AI, Banking, financials, global, interest rates, value | Banking sector outperformed after Fed shifted narrative from rate increases to possible declines in 2024. Thirteen financial holdings recorded gains exceeding 15%, including U.S. banks and German reinsurers benefiting from hard market pricing and better investment returns. | View | |
| 2023 Q4 | Jan 18, 2024 | Polaris International Equity | 5.8% | 10.1% | 000270.KS, 000660.KS, 005930.KS, 2338.HK, 6758.T, 7267.T, 8001.T, AD.AS, AMC.L, ANTO.L, BPOP, BWY.L, DG.PA, DTG.DE, ENI.MI, FTK.DE, HNR1.DE, IPS.PA, JAZZ, KGX.DE, LUN.TO, MEOH, MUV2.DE, NVS, NXT.L, PUB.PA, SDZ.SW, SKF-B.ST, SKG.L, TEP.PA, TW.L, YAR.OL | AI, consumer discretionary, industrials, international, rates, value | Manager emphasizes purchasing cash-flow generative companies at excellent values, noting that more appropriately priced cost of capital is particularly beneficial for value stocks. The gale force headwind of growth over value stocks for the past decade is shifting, especially in international markets. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| 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. | ||||||||