RAY-B.ST Archives

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q2	Jul 1, 2024	Protean Select	0.0%	10.6%	ACAST.ST, AMBEA.ST, CAMURUS.ST, CARG.HE, CARL-B.CO, CINT.ST, DEVYSER.ST, ITAB.ST, KEMIRA.HE, METSB.HE, METSO.HE, NETEL.ST, NORVA.ST, PROACT.ST, RAY-B.ST, REJL.ST, TIETO.HE, TRUE-B.ST, TRYG.CO, VALMT.HE	Absolute return, AI Bubble, Hedge Fund, Nordics, risk management, small caps	Manager views AI as a classic boom-bust cycle, comparing it to historical manias. Chat-GPT usage is already declining and trillion-dollar AI investments will take years to generate returns above cost of capital. The fund is short names that have risen on misplaced AI enthusiasm.	CAMX.ST METSB.HE	View
2024 Q1	Jun 18, 2024	Protean Select	0.0%	10.6%	ACAST.ST, AMBE.ST, BICO.ST, BOUL.ST, CARGB.ST, DEVE.ST, EVO.ST, FORTUM.ST, ITAB.ST, LINDEX.ST, NIBE-B.ST, NOLA-B.ST, PRCT.ST, RAY-B.ST, TIETO.ST, VALMT.ST	Long/Short, Nordics, Outperformance, Quality, small cap, value	Evolution Gaming represents a compelling opportunity as domestic funds avoid it due to moral concerns about gambling, creating valuation dislocation. The company trades at low teens EV/EBIT despite 15-20% organic growth, 70%+ EBIT margins, and net cash position.	NIBE-B.ST EVO.ST BOULE.ST EMBEL.ST ITAB.ST ACAST.ST	View

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

BSD Shareholders of RAY-B-ST

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

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