MRL-L

MRL-L

MRL-L

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jun 30, 2025	EQUAM Global Value Fund	8.4%	-	ALLFG.L, BFSA.MC, CELL.MI, DFS.L, DHG.L, ENO.MC, EXRO, INCH.L, KIN.BR, MOND.MI, MRL.L, MTO.L, NOEJ.DE, OGN.L, PSG.MC, RHIM.L, SESA.MI, STM.DE, TGS.OL	Entertainment, Europe, small caps, Trade Policy, undervaluation, value	The fund continues to focus on European small and mid-cap companies trading at unusually low valuations despite quality business models. The manager emphasizes buying companies at significant discounts to intrinsic value with strong long-term prospects.	KIN.BR	View
2024 Q1	Apr 23, 2024	Biondo Investment Advisors	-	-	ALLFG.L, BFSA.MC, CELL.MI, DFS.L, DHG.L, ENO.MC, EXPRO, INCH.L, KIN.BR, MOND.MI, MRL.L, MTO.L, NRMN.DE, OGN.L, PSG.MC, RHI.L, SESA.MI, STM.DE, TGS.OL	Cinema, Europe, Hotels, Oil Services, small caps, Trade Policy, undervaluation, value	The fund focuses on European small and mid-cap companies trading at unusually low valuations despite quality business models. The manager believes this valuation disconnect will eventually reverse, creating significant upside potential of around 100%.	KINP.BR	View
2025 Q1	Mar 31, 2025	Baron Fifth Avenue Growth Fund	-13.5%	-13.5%	ALLFG.L, BFSA.MC, CELL.MI, DFS.L, DHG.L, ENO.MC, EXPO, INCH.L, KIN.BR, MRL.L, MTO.L, NOEJ.DE, OGN.L, RHI.L, SESA.MI, STM.DE, TGS.OL	Entertainment, Europe, small cap, Trade Policy, undervaluation, value	The fund continues to focus on European small and mid-cap companies trading at unusually low valuations despite quality business models. The manager believes this valuation disconnect will eventually reverse, though timing remains uncertain.	KIN.BR	View
2024 Q4	Dec 31, 2024	Peapack Private	-	-	ALLFG.L, BFSA.MC, CELL.MI, DFS.L, DHG.L, ENO.MC, EXPRO, INCH.L, KINE.BR, MRL.L, NOEJ.DE, OGN.L, RHI.L, SESA.MI, STM.DE, TGS.OL	Entertainment, Europe, small caps, Trade Policy, undervaluation, value	European small and mid-cap companies continue to trade at unusually low valuations despite good business fundamentals. The fund's portfolio trades at a steep discount to indices and conservative business valuations, creating significant upside potential of around 100%.	KINP.BR	View
2025 Q4	Jan 8, 2026	Hertford Capital	0.7%	6.8%	ACM.DE, BAMI.MI, CRAYN.OL, MAB1.L, MOL.MI, MRL.L, NA9.DE, PHLL.L, QXO, TPFG.L, WOSG.L	Construction, Europe, Mortgage, small caps, software, special situations, value	The fund is positioned around the European and UK housing, construction, and mortgage broking market recovery with approximately 40% allocation. The manager sees opportunities in the Italian mortgage market recovery through Moltiply Group, similar to UK positions in Mortgage Advice Bureau and The Property Franchise Group. Around 20% is allocated to software and SaaS companies, driven by ongoing digitization needs. The fund holds positions in companies like Nagarro SE and Crayon Group, with the latter potentially merging with SoftwareOne to create a larger Microsoft partner. The portfolio benefits from recovery in European construction markets through building materials exposure. The segregated account investment in QXO Inc. aligns with extensive research in building and construction materials sector, targeting industry consolidation opportunities.		View
2024 Q4	Jan 8, 2025	Hertford Capital	0.7%	6.8%	ACM.DE, BAMI.MI, CRAYN.OL, MAB1.L, MOL.MI, MRL.L, NA9.DE, PHLL.L, QXO, TPFG.L, WOSG.L	Construction, Europe, Mortgage, small caps, software, special situations, value	The fund is positioned around the European and UK housing, construction, and mortgage broking market recovery with approximately 40% allocation. Specific investments include Moltiply Group in Italy's mortgage market and UK positions in Mortgage Advice Bureau and The Property Franchise Group.	QXO MPG.MI WOSG.L PHLL.L ANIM.MI CRAYN.OL NA01.DE	View
2024 Q2	Jul 15, 2024	Colebrooke Partners	0.0%	0.8%	ASC.L, ATG.L, LIT.L, MIDW.L, MOON.L, MRL.L, NAH.L, THG.L, WINE.L, WISE.L, WOSG.L	Luxury, marketplaces, Portfolio Management, small cap, UK Equities, value	ATG operates leading auction platforms across art/antiques and industrial/commercial verticals, benefiting from network effects where scale aggregates more bidders and auction houses. The business follows the 'Marketplace Playbook' with value-added services like ATG Ship and ATG Pay improving take rates while enhancing the offering to auction houses.	WOSG.L ATG.L	View

Pitches With This Ticker

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

BSD Shareholders of MRL-L

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

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.

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