PHG

PHG

PHG

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 22, 2025	Longleaf Partners International Fund	14.9%	15.7%	035420 KS, 6045 JP, CAN LN, ENT LN, ERF FP, GLB ID, MLCO, PHG, TWE AU	fundamentals, International Equities, Quality, valuation, volatility	The letter stresses bottom-up fundamental investing amid macro volatility and geopolitical noise. Management highlights competitively advantaged international businesses delivering strong operational results. Long-term value realization is expected as fundamentals reassert over macro narratives.	6045 JP TWE AU PHG 035420 KS ENT LN MLCO CAN LN GLB ID	View
2025 Q3	Oct 15, 2025	Longleaf Partners Global Fund	2.6%	10.9%	4613 JP, ACI, CAN LN, CNX, EXO NA, GLB LN, IAC, MAT, PCH, PHG, PVH, RYN	Compounding, free cash flow, Global Equities, Quality, Value Investing	Longleafs Global Fund emphasizes owning real-asset and cash-flow-generating businesses while avoiding speculative overvaluation driven by AI exuberance. Management sees opportunity in undervalued holdings such as timber, media, and consumer companies trading at low free cash flow multiples. The portfolio remains positioned for durable compounding through disciplined capital allocation and improving fundamentals.	PVH 4613 JP	View
2025 Q4	Jan 18, 2026	Titan Wealth	-	-	ADBE, AEM, AMD, AU, BKR, CAT, COIN, DIS, GLEN.L, GOOGL, IBKR, LLY, LMT, MELI, MOS, MU, NFLX, ORCL, PHG, RELX, SE	AI, commodities, defense, emerging markets, Geopolitical, global, infrastructure, technology	AI is described as not just a sector theme but a foundation for broad economic transformation that will reshape how businesses operate, products are developed, and services are delivered. The technological momentum is reflected in market behavior with strong equity gains driven by optimism about ongoing earnings growth and innovation-driven expansion. Semiconductor companies benefited from AI spending throughout 2025, with specific mentions of AMD benefiting from OpenAI's compute and chip commitments, and Micron Technology providing exposure to high-bandwidth memory as a bottleneck in chip development. Defense positioning includes exposure to missiles, air defense and space through companies like Lockheed Martin, supported by large order backlogs providing strong long-term visibility amid heightened geopolitical tensions. Gold exposure through miners like AngloGold Ashanti and Agnico Eagle Mines contributed meaningfully to returns as stronger precious metal prices translated into higher cash generation for miners, with positioning for sustained tensions around currency debasement. Energy transition themes are reflected through infrastructure investments and companies positioned for the global push toward renewable energy, including exposure to energy services and LNG infrastructure where long-term dynamics look positive. Cryptocurrency exposure through Coinbase reflects positioning for financial deregulation and disintermediation, with stablecoins expected to become a preferred transfer mechanism following regulatory developments like the GENIUS Act passage.		View
2025 Q4	Jan 14, 2026	Longleaf Partners Global Fund	5.3%	16.7%	ANGI, AVTR, BIO, CNH, CNX, DHER.DE, EXOR.MI, F, FI, GLAN.L, GRUMA.MX, IAC, JFC.PS, KHC, MAT, MGM, PHG, REGN, STLA, TIGO, UNH	Buybacks, FCF, global, Holdings, Media, Quality, value	The fund maintains a concentrated portfolio of undervalued stocks trading at low P/V ratios in the low-60s%. Management emphasizes finding defensive growers like consumer staples and timberland companies at better prices, similar to their successful positioning in 1999. They focus on companies with strong free cash flow generation and quality management partners. Multiple portfolio companies are actively repurchasing shares at attractive prices. MGM has repurchased over 40% of shares in five years, Glanbia added to buyback programs, and Exor executed efficient share repurchases via Dutch auction. The fund views these as value-creating capital allocation moves. Canal+ renewed exclusive UEFA Champions League rights for 2027-2031 at better economics than feared, reinforcing subscriber base quality. The company made operational progress across European and African platforms following the MultiChoice merger, though remains underfollowed as a French media company on London Stock Exchange.	AVTR BIO ANGI MGM KHC IAC TIGO GLB LN CAN LN	View
2025 Q4	Jan 11, 2026	Oldfield Partners Overstone Global Large Cap	6.3%	34.7%	005930.KS, ASML, BABA, BNZL.L, CNHI, EXO.MI, HEN3.DE, LLOY.L, MT, NVDA, PHG, RACE, STLA, TSM, UHR.SW	AI, diversification, global, Luxury, semiconductors, technology, value	AI has become a dominant theme across major equity indices, with Nvidia leading the S&P 500, ASML dominating MSCI EAFE, and TSMC leading emerging markets. The fund benefited from AI-related dynamics, particularly through Samsung's memory products experiencing substantial price increases due to DRAM shortages driven by AI demand. The fund focuses on investing in companies with low valuations that are unloved, ignored, or out of favor but remain fundamental to the global economy. Despite persistent bubble discussions, opportunities continue to exist away from media headlines in companies trading at attractive valuations. New investment in Swatch represents exposure to luxury watch brands including Omega, Longines, Tissot, and others. The investment thesis is based on tangible assets including Swiss real estate and the potential for operating leverage when luxury demand recovers from current structural pressures.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 8, 2026	Fund Letters	Mason Hawkins	Koninklijke Philips N.V.	Health Care	Health Care Equipment	Bull	New York Stock Exchange	China, Margins, Medicaldevices, turnaround, valuation	View Pitch
Nov 1, 2025	Substack	Pillars and Profits	Philips	Health Care	Medical Devices	Neutral		Business Simplification, Exor Investment, growth potential, Health Technology, Margin Improvement, Market Uncertainties, Profitability Improvement, Strategic Priorities, US Litigation	View Pitch
Aug 7, 2025	Seeking Alpha	Mare Evidence Lab	Koninklijke Philips N.V.	Health Care	Medical Devices	Bull	NYSE	—	View Pitch

BSD Shareholders of PHG

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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