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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 11, 2025 | Baron Emerging Markets Fund | 15.2% | 18.6% | 0700.HK, 1211.HK, 300750.SZ, 3690.HK, 3988.HK, 9988.HK, BABA, BAJFINANCE.NS, BAP, BHARTIARTL.NS, JIOFINANCE.NS, JMFINANCIL.NS, KOTAKBANK.NS, MAXHEALTH.NS, NUVAMA.NS, PONY, RELIANCE.NS, TRENT.NS, TSM, XP | AI, China, defense, emerging markets, India, Korea, semiconductors, Shipbuilding | Korean defense companies are benefiting from geopolitical tailwinds and increased collaboration with the U.S. Navy. Companies like Hanwha Systems and Korea Aerospace Industries are positioned to benefit from shifting geopolitical priorities and EU/Asia/U.S. defense spending. | View | |
| 2025 Q3 | Oct 28, 2025 | Baron Emerging Markets Fund | 10.9% | 31.5% | 002050.SZ, 0268.HK, 0700.HK, 1024.HK, 2308.TW, 300750.SZ, 601100.SS, 601865.SS, BABA, BEL.NS, BHARTIARTL.NS, GDS, INPST.L, MAXHEALTH.NS, PONY, SQM, SWIGGY.NS, TRENT.NS, TSM, XPEV | AI, China, Data centers, Electric Vehicles, emerging markets, India, semiconductors, technology | China is emerging as a major rival to the U.S. AI ecosystem, with Chinese companies leading in open-source large language models and achieving performance comparable to top U.S. models at lower computing costs. China possesses structural advantages including the world's largest digital population for training data, half the world's AI researchers, massive power capacity additions, and cost-effective infrastructure development. | View | |
| 2025 Q4 | Jan 21, 2026 | Platinum Asia Fund | 5.0% | 24.0% | 000338.SZ, 000660.KS, 005930.KS, 0700.HK, 1024.HK, 1109.HK, 3968.HK, 601318.SS, ASII.JK, BABA, BILI, IGOA.NS, JD, JFC.PS, MWG.HM, PONY, TCOM, TSM, VEI, ZTO | AI, Asia, China, Electric Vehicles, financials, semiconductors, technology | Asian markets driven by unflagging enthusiasm for AI businesses, with tech-heavy South Korea and Taiwan leading. Core semiconductor holdings SK hynix, Samsung Electronics and TSMC were major contributors. AI trade reaching unexpected corners of old economy, with companies like Weichai Power benefiting as inadvertent AI beneficiaries through industrial power generation for datacenters. Chinese financial holdings bounced back as fears of forced property sector support eased. Ping An Insurance and China Merchants Bank performed strongly after Shenzhen government indicated it wouldn't indefinitely bail out developers. This signals financial companies prioritizing their own balance sheets over socializing property sector losses, leading to re-rating of Chinese financials. Introduced position in Chinese autonomous vehicle company Pony AI. Autonomous vehicles are scaling rapidly with improving unit economics - fleet grew from 250 to 1,159 vehicles in 2025. Technology robustness has stepped up, with vehicles now working 24/7 in chaotic Beijing and Shanghai traffic. Fully equipped vehicle costs now under $50,000 with further 40% cost reduction targeted. | PONY 3968 HK 2318 HK 005930 KS 000660 KS TSM |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 24, 2026 | Fund Letters | Cameron Robertson | Pony AI Inc. | Information Technology | Autonomous Vehicles | Bull | NASDAQ | AI, Autonomous, mobility, robotics, Unit economics | View Pitch |
| Sep 16, 2025 | Short Thesis | Grizzly research | Pony AI Inc | Information Technology | Application Software (Autonomous Driving) | Bear | Ho Chi Minh Stock Exchange | AI software, autonomous driving, China risk, Geopolitics, Regulatory | 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. | ||||||||