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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | Apr 15, 2024 | Harris Associates International Equity Strategy | 0.2% | 0.2% | BAYN.DE, BXB.AX, CON.DE, DTG.DE, ISP.MI, MBG.DE, PRU.L, SKG.L, SN.L | Autos, Europe, financials, healthcare, international, value | The fund invests in businesses priced at substantial discounts to intrinsic value estimates. Multiple new positions were initiated at discounts to intrinsic value including Brambles, Smurfit Kappa, and Smith & Nephew. The strategy focuses on finding value regardless of what is in favor at any given moment. | View | |
| 2025 Q1 | Mar 31, 2025 | Brandes International Equity Fund | 10.8% | 10.8% | 005930.KS, 1876.HK, 4502.T, BABA, BNP.PA, CA.PA, ERJ, GSK.L, HEI.DE, HEIA.AS, HEN3.DE, ISP.MI, ORA.PA, PUB.PA, RR.L, SAN.PA, STM, TSM, UHR.SW, WPP.L | aerospace, Beverages, emerging markets, Europe, financials, international, semiconductors, value | The fund emphasizes value investing philosophy with holdings trading at compelling valuation levels relative to benchmarks. International stocks and value stocks offer attractive return potential based on current valuations, with value stocks trading in the cheapest quartile relative to growth stocks historically. | RI.PA CAP.PA WMMVY |
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| 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 | |
| 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 Q3 | Sep 30, 2024 | Lansdowne Partners European Fund | 1.1% | 9.1% | ASML, CAP.PA, CPG.L, DG.PA, EL.PA, IBE.MC, INF.L, ISP.MI, KBC.BR, LDO.MI, LIN, ML.PA, NESN.SW, NVO, REL.L, RTO.L, SCHN.PA, SHEL.L, SIKA.SW, TELE2.ST | Europe, industrials, infrastructure, Logistics, materials, value | UK logistics demand-supply dynamic is improving structurally with speculative construction starts down 30-40% over the last 12 months and stabilising demand environment. Segro positioned to deliver sustained 3-4% ERV growth with tier-1 assets and attractive development opportunities. | NOVO-B.CO ML.PA SGRO.L FER.MC SIKA.SW |
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| 2024 Q2 | Jun 30, 2024 | Lansdowne Partners European Fund | 0.8% | 7.9% | ASML, BOL.ST, CBK.DE, CPG.L, DG.PA, EL.PA, HLMA.L, INF.L, ISP.MI, KBC.BR, LIN, ML.PA, NVO, REL.L, RTO.L, RYA.L, SHEL.L, SIKA.SW, SU.PA, TEL2B.ST | Europe, industrials, technology, Telecom, value | ASML maintains monopolistic position in EUV lithography equipment with ROIC >30%. Despite weak Q1 orders of EUR 3.6bn versus Q4's EUR 9.2bn, the weakness is attributed to lumpy order patterns and TSMC's negotiating position. Supply chain feedback on 2nm remains positive, supporting EUV ramp expectations. | TEL2B.ST EL.PA ASML.AS |
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| 2025 Q1 | Mar 31, 2025 | ClearBridge Investments International Growth ADR Strategy | - | - | 1211.HK, 4091.T, 6273.T, 7011.T, 7733.T, 7936.T, AIR.PA, ARGX, BBVA, CP, DB1.DE, DTE.DE, ISP.MI, LLOY.L, NVO, NWG.L, SE, TT, UCB.BR, UCG.MI | banks, China, defense, Europe, growth, infrastructure, international, technology | Defense spending is expected to increase dramatically in the EU and Japan, boosting revenues for aerospace contractors like Airbus and Mitsubishi Heavy Industries. Germany is leading substantial increases in defense spending as Europe shoulders greater responsibility for security. Military spending in Japan could increase from 1% to 3% of GDP. | View | |
| 2025 Q1 | Mar 31, 2025 | Ariel Global Fund | 6.3% | 6.3% | 0002.HK, 2474.TW, 7832.T, AQN, BAC, BBNI.JK, BIDU, CHKP, CVS, DVA, ELE.MC, ISP.MI, LEN, NTAP, OC, TDC, TSM | AI, financials, global, tariffs, value, volatility | Ariel's non-consensus approach seeks to identify undervalued, out-of-favor franchises that are misunderstood and therefore mispriced. The fund's international and global holdings currently trade at compelling valuations relative to their growth prospects, while maintaining the financial strength needed for operational resilience. | View | |
| 2025 Q1 | Mar 31, 2025 | Ariel International Fund | 11.7% | 11.7% | 0002.HK, 7832.T, AQN, BBNI.JK, BIDU, CHKP, ELE.MC, ISP.MI, NOKIA.HE, ORA.PA, PUB.PA, SRG.MI, TSCO.L, TSM, V03.SI | AI, Banking, international, tariffs, technology, Utilities, value | The quarter tested American leadership in Artificial Intelligence as the Magnificent Seven fell nearly 15% amid questions about U.S. AI dominance. TSMC shares decreased on weakening sentiment regarding AI growth, though the company is expected to benefit from secular AI growth trends longer-term. | ISP.MI BBNI.JK AQN.TO TSM PUB.PA TSCO.L ORA.PA CHKP 7832.T |
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| 2024 Q1 | Mar 31, 2024 | Lansdowne Partners European Fund | 7.0% | 7.0% | AHT.L, ASML, BOL.ST, CAP.PA, CFR.PA, CPG.L, DG.PA, EL.PA, IBE.MC, INF.L, ISP.MI, KBC.BR, LDO.MI, LIN, ML.PA, NESN.SW, NVO.CO, REL.L, RYA.L, SAMPO.HE, SE.PA, SHEL.L, SIK.SW, TELE2-B.ST, UPM.HE | defense, Europe, financials, growth, healthcare, technology, value | European defense spending expected to experience major up-cycle with potential to add over EUR 80bn to regional defense budgets to meet NATO 2% GDP requirement. Leonardo positioned to benefit from increased equipment procurement and electronic content trends. | EL.PA REL.L LDO.MI KBC.BR ASML.AS |
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| 2023 Q1 | Mar 31, 2023 | Oakmark International Fund | 8.8% | 0.0% | BNP.PA, ISP.MI, LLOY.L | Banking, Crisis, Europe, opportunity, value | European banks are positioned to benefit from higher interest rate spreads, resilient economies, and ability to return capital to shareholders. They have smaller securities portfolios as percentage of assets than US counterparts, reducing unrealized loss potential. Holdings like Intesa Sanpaolo, Lloyds Banking Group and BNP Paribas trade at attractive valuations with high dividend yields and excess capital. | ACGL|APH|COO|CSGP|DKNG|GWRE|IDXX|IOT|IT|LPLA|MSCI|MTD|PCOR|ROP|TECH|VRSK LLOY.L ISP.MI BNP.PA |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 27, 2026 | Fund Letters | Oakmark International Fund | Intesa Sanpaolo | Financials | Banks | Bull | Borsa Italiana | Balance Sheet Quality, capital return, dividend yield, European banks, Flight-to-quality, Free Cash Flow, Interest Rate Spreads, Italian Banks, Value | View Pitch |
| Apr 13, 2026 | Fund Letters | Ariel International Fund | Intesa Sanpaolo SpA | Financials | Banks | Bull | Borsa Italiana | banking, Europe, fee income, Italy, organic growth, return on equity, shareholder returns | 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. | ||||||||