cash flow, financials, global, industrials, Quality, small caps, valuation
Portfolio focuses on smaller companies with market caps between $1.5-7.5 billion where the manager finds the best combination of scalability and entrepreneurial agility. Valuations for smaller companies remain compressed relative to larger peers, with many holdings trading at mid-teens earnings multiples despite high returns on capital.
consumer, global, private markets, small caps, tariffs, value, volatility
Manager emphasizes the small cap universe is 10x the size of large caps, providing abundant opportunity. Despite weak IPO activity over the past three years, approximately 1,750 companies have still come to market. The fund maintains focus on building a collection of durable, value-creating businesses that can deliver strong absolute returns across market environments.
Beverages, Europe, global, healthcare, Luxury, small caps, value
Royal Unibrew has made 11 acquisitions in 3 years spending over $900 million, doubling invested capital. Input costs per hectoliter increased over 50% due to inflation, temporarily depressing returns on capital to half historical levels. The company trades at lowest cash earnings multiple since 2013 on near trough earnings.
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.
