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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 22, 2025 | Polaris International Equity | 12.4% | 18.8% | 000270.KS, 000660.KS, 005930.KS, 055550.KS, 2724.TW, 8002.T, 8306.T, BARN.SW, BKT.MC, BPOP, CAP.PA, CTC.TO, DG.PA, ELE.MC, GNC.L, IAG.L, JAZZ, JDEP.AS, LTM, LUN.TO, MEOH, NOMD.L, NXT.L, SMWT, SNY, YAR.OL | Asia, Europe, Geopolitical, international, semiconductors, South Korea, Trade Policy, Travel | International airlines and travel services are capitalizing on the travel trend away from the U.S. Airlines like International Consolidated Airlines Group and LATAM Airlines posted strong results driven by robust demand and cost management. Airport traffic in Europe has recovered to above 95% of 2019 levels. | GNC LN 000660 KS 8002 JP |
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| 2024 Q1 | May 9, 2024 | Polaris International Equity | 5.8% | 10.1% | 000270.KS, 000660.KS, 005930.KS, 007700.KS, 055550.KS, 066570.KS, 2338.HK, 4502.T, 6758.T, 8002.T, ANTO.L, BPOP, DTG.DE, GNC.L, HNR1.DE, LUMI.TO, MEOH, MNDI.L, MUV2.DE, NOMD.L, NXT.L, OTEX, PUB.PA, SKG.L, TEP.PA, YAR.OL | Asia, cyclicals, Europe, international, materials, technology, value | The electrification of everything and resurgent Chinese economy drove demand, while supply constraints from declining production rates at productive mines and political disruptions created tight market conditions. This benefited pure copper players like Lundin Mining and Antofagasta PLC, both jumping over 20% for the quarter. | View | |
| 2025 Q3 | Oct 1, 2025 | Vela International Fund | 7.4% | - | AGI.TO, ALLFG.L, ARCO, ARGX, BAP.AX, COA.L, FEVR.L, FIE.DE, FUC.DE, GLOB, HIK.L, IFX.DE, INDV.L, JEL.HK, KRKA.L, NOMD.L, OGC, SRP.L, TECN.SW, WIE.VI | Cash, gold, healthcare, international, tariffs, value | Gold serves as insurance against credit destruction and declining confidence in financial authorities. Current environment supports gold due to high US debt levels, potential Federal Reserve independence threats, and geopolitical tensions from Russia sanctions. Gold miners provide leveraged exposure with focus on low-risk jurisdictions and organic growth. | GLOB COA LN FEVR LN TECN SW HIK LN |
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| 2025 Q4 | Jan 21, 2026 | Renaissance Investment Management – International Small Cap Equity | 0.0% | 0.0% | 0696.HK, 4536.T, ARIS.TO, DCBO, EFXT, ERO, GLNG, IMOS, KLBN4.SA, NOMD.L, PSFE, PTXKY, RDWR, TMVWY, TSEM, TTVSY | AI, China, Copper, gold, international, Mining, semiconductors, small cap | Gold rose 64% in 2025, its best year since 1979, driven by concerns over Federal Reserve independence, U.S. government deficit, geopolitical tensions, and central banks diversifying from U.S. dollar-based assets. Precious metals are viewed as dollar and inflation hedges. Copper had a strong year as supply disruptions at major mines continued. Demand is expected to rise in 2026 as copper is a key component in electrification push, maintaining imbalanced supply/demand and upward price pressure. Chinese technology companies with AI exposure performed well during the year. Tower Semiconductor benefited from accelerating AI demand, with strong momentum in RF infrastructure and silicon photonics businesses where customer demand far outpaces current supply. Chinese stocks performed well, particularly technology companies with AI exposure. However, hopes for economic growth acceleration failed to materialize as meaningful stimulus follow-through did not occur. Government officials have signaled further stimulus in 2026 with more proactive fiscal policy. | ARIS CN PSFE TSEM |
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| 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. | ||||||||