AI, Distribution, healthcare, Japan, Pharmaceuticals, technology, Uk
The fund plays the GLP-1 obesity treatment trend through Chugai Pharmaceutical's oral GLP-1 drug Orforglipron, which could be a game changer with weight loss results on par with injectables but with daily pill convenience. The market could reach $105 billion by 2030, and Chugai is well-positioned to capture a large share of the oral drug segment.
Australia, Concentration, Long Term, small caps, United Kingdom, value
Initiated position in Kitwave Group, a UK food distributor serving 42,000 retail locations. Company has structural competitive advantages through scale-based bargaining power and operates in recession-proof industry. Management has strong track record with 22% EPS CAGR over seven years.
defense, Foodservice, global, Poland, small caps, value
Two major Polish holdings - Auto Partner and Dino Polska - faced temporary headwinds from minimum wage increases, grocery deflation, and consumer pressure. Manager views these as short-term challenges with strong recovery prospects as macroeconomic conditions normalize and real wage increases translate to consumer spending.
AI, Concentration, international, small caps, underperformance, value
The fund maintains heavy exposure to small-cap companies which were deeply out of favor during H1 2024. The manager notes that smaller-capitalization stocks were left in the dust while AI/semiconductor-related stocks experienced historic rallies. Despite underperformance, the manager remains confident in the long-term appreciation potential of small-cap holdings.
Currency, global, growth, long-term, Quality, SmallCap, underperformance, value
The manager emphasizes finding companies with high quality businesses and management teams, delivering strong growth, and trading at low valuation multiples. The portfolio focuses on asymmetric opportunities that hardly anyone else seemed to know about, with screening for no-brainer investments being a key competitive advantage.
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.
