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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Sep 21, 2025 | Barometer Capital Management | - | - | AEM.TO, BKR, BVN, ERJ, EWA, EWS, FFH.TO, GE, GEV, HWM, IBIT, K.TO, MSFT, NFLX, NVDA, SAN, TMX.TO, TOU.TO, UUP, WSP.TO | aerospace, energy, financials, global, materials, Multi-Strategy, technology, volatility | Strong performance driven by commercial aircraft production disruptions creating demand for aftermarket parts and services. Embraer received largest-ever executive jet order worth up to $7 billion for 182 aircraft. Howmet Aerospace and GE Aerospace benefiting from persistent aircraft production dislocations forcing extended service life. | View | |
| 2025 Q2 | Jul 17, 2025 | Ariel Global Fund | 7.4% | - | 000660.KS, 1590.TW, 2319.HK, 6361.T, 6920.T, BBVA, DIS, FSLR, JD, LTO.MI, SAN, TSCO.L, ZBH | AI, Banking, energy, global, healthcare, semiconductors, value | Strong AI-driven demand for high bandwidth memory products drove performance at SK Hynix. The company gained market share in high-content server-grade DRAM modules with entire 2025 HBM supply sold out and Nvidia as a key customer. AI power demands are expected to benefit First Solar as the only US-based solar module manufacturer of scale. | ZBH DIS LOTTO.MI FSLR 6361.T BBVA 1590.TW SNY 2319.HK JD 6920.T 000660.KS TSCO.L BBVA SM 6920 JP |
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| 2025 Q1 | Mar 31, 2025 | Fidelity Freedom 2045 Fund | 0.1% | 0.1% | ALAB, BA.L, DECK, GE, IMPUY, MRVL, NVDA, PDD, RHM.DE, SAN, SE, TSLA, XOM | asset allocation, diversification, geopolitics, policy, target date, tariffs | The fund emphasizes strategic asset allocation and diversification to help navigate different market environments and risks. Recent years have amplified portfolio diversification based on the view that participants will experience multiple market environments throughout their lifetime, and that regimes can change abruptly. The fund's glide path reflects long-term views on participant needs, diversification and capital markets. | View | |
| 2025 Q1 | Mar 31, 2025 | Fidelity Freedom 2055 Fund | 0.0% | 0.0% | ALAB, BA.L, DECK, GE, IMPUY, MRVL, NVDA, PDD, RHM.DE, SAN, SE, TSLA, XOM | asset allocation, diversification, geopolitics, Policy Uncertainty, target date, tariffs | The fund emphasizes strategic asset allocation and diversification to help navigate different market environments and risks. Recent years have amplified portfolio diversification based on the view that participants will experience multiple market environments throughout their lifetime, and that regimes can change abruptly. The fund's glide path reflects long-term views on participant needs, diversification and capital markets. | View | |
| 2025 Q4 | Feb 23, 2026 | Barometer Capital Management | 0.0% | 0.0% | AEM.TO, BBD-B.TO, BVN, CAT, CLS.TO, CPX.TO, FTT.TO, GOOGL, HWM, K.TO, LRCX, MS, NA.TO, POW.TO, RTX, RY.TO, SAN, SE, TTWO, TVE.TO | AI, Canada, Copper, defense, energy, financials, Precious Metals, semiconductors | AI infrastructure remained a pillar of market leadership despite some consolidation in December. The market continued to distinguish between AI-enablers where demand remained strong and more cyclical parts of the chip complex, reinforcing the durability of the infrastructure buildout theme. Semiconductors exposed to AI maintained strength as semiconductor capital spending remained supported by AI-driven demand for advanced chips. Defense spending stayed elevated amid ongoing geopolitical uncertainty, supporting backlog strength and long-cycle earnings durability for aerospace and defense companies. RTX and Howmet extended gains as commercial aerospace demand remained strong and defense spending supported long-cycle revenue visibility through backlogs. Precious metals experienced renewed volatility during the quarter, with gold and silver weakening sharply into the end of October after an extended run higher. The pullback created opportunity as the manager re-engaged at lower levels when the market stabilized and the broader macro backdrop remained supportive for hard assets. Gold miners delivered strong returns throughout the year despite some weakness in final days of December. Copper prices surged into year-end amid rising demand tied to electrification, infrastructure, and data-center buildouts, alongside persistent supply constraints. This supported miners levered to the copper theme, with materials exposure contributing positively through companies like Hudbay Minerals and Rio Tinto benefiting from strength in copper and base metals. The portfolio benefited from exposure to global power demand themes, with Caterpillar continuing to benefit from robust demand in its energy & transportation business increasingly tied to expanding global power needs, particularly the build-out of AI data centers requiring reliable on-site generation capacity. Nuclear energy remained supported by structural tailwinds including rising global demand for reliable baseload power. Financials added to returns with banks demonstrating strong earnings power and shareholder return capacity. Morgan Stanley benefited from a supportive backdrop for capital markets activity and wealth management momentum, while Canadian banks continued to demonstrate resilient profitability and capital strength supporting shareholder return expectations. | TVE CN LRCX CAT |
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| 2024 Q4 | Feb 12, 2025 | Lyrical Asset Management | - | -2.1% | 005930.KS, ACN, AER, BAER.SW, BATS.L, BNP.PA, BP.L, ENX.PA, HSBA.L, MBG.DE, SAN, SHEL.L, TEP.PA | Asia, banks, EAFE, Europe, growth, international, Quality, value | AI deployment is creating both opportunities and challenges for portfolio companies. Samsung is experiencing margin pressure as AI favors High Bandwidth Memory technology where it currently lags behind SK Hynix. Teleperformance faces uncertainty as AI threatens to automate customer service functions, though the manager believes the company can adapt and benefit from increased complexity in remaining work. | TEP.PA 005930.KS |
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| 2025 Q3 | Oct 9, 2025 | ClearBridge Investments International Growth ADR Strategy | - | - | 0700.HK, 1211.HK, 3064.T, 8035.T, ADYEN.AS, AEM, ALC, ARGX, ARM, BBVA, BVI.PA, CLS.TO, CPG.L, DOL.TO, DTE.DE, HDB, HSBA.L, KBC.BR, KOF, L.TO, LSEG.L, MELI, NVO, NVZMY, PRY.MI, REL.L, SAN, SAP, SFTBY, SIK.SW, SONY, SPOT, STMN.SW, TRI.TO, UCB.BR, VNA.DE | AI, banks, Biotechnology, China, Europe, growth, international, value | European biotechs Argenx and UCB delivered solid contributions with robust sales growth and positive clinical trial results. Argenx benefited from strong Vyvgart autoimmune treatment sales and renewed pipeline confidence. UCB rose on strong uptake of recently launched treatments Bimzelx and Rystiggo, plus positive Phase 3 seizure disorder trials. | CLS CN UCB BB |
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| 2025 Q4 | Jan 18, 2026 | Ariel Global Fund | 2.9% | 23.3% | 000660.KS, 1024.HK, 4751.T, 6367.T, 6460.T, 6762.T, 6856.T, 7832.T, BIRG.L, BMPS.MI, BMY, FME.DE, FORTUM.HE, FSLR, HPE, LREN3.SA, SAN, T, WBS, WCH.DE | AI, Banking, Data centers, Energy Transition, global, international, semiconductors, value | The fund sees strong opportunities in semiconductor equipment and memory companies. Lasertec is positioned for growth as it transitions toward high-volume manufacturing with its new APMI tool for EUV processes. SK Hynix benefits from accelerating AI inference demand for high-bandwidth memory and NAND solutions, maintaining a commanding lead with Nvidia. European banking presents compelling opportunities through consolidation and operational improvements. BMPS transformed into Italy's third-largest bank through Mediobanca acquisition, while Santander offers efficiency gains and stronger profitability through streamlined operations. Bank of Ireland provides upside through cost restructuring and strategic decisions. Solar and renewable energy infrastructure offer attractive growth prospects. First Solar's new U.S. facility aims to reduce tariff costs and capture domestic tax incentives in an increasingly tight utility-scale solar market. Fortum provides exposure to data center power demand through above-market purchase agreements in the Nordic region. Artificial intelligence drives demand across multiple sectors from memory semiconductors to content platforms. SK Hynix benefits from AI inference workloads requiring high-bandwidth memory, while Kuaishou leverages AI-driven video tools to enhance content recommendation and advertising targeting capabilities. Growing data center demand creates opportunities in power and infrastructure. Fortum is positioned for upward earnings revisions through power purchase agreements with data center operators in the Nordic region, benefiting from low-cost power and favorable climate conditions. | ES WBS WCH GR 1024 HK 6367 JP 4751 JP BMY T 000660 KS 6920 JP FSLR |
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| 2025 Q4 | Jan 18, 2026 | Ariel International Fund | 2.3% | 31.5% | 1024.HK, 3436.T, 4751.T, 6367.T, 6762.T, 6856.T, 6920.T, 7832.T, BARC.L, BIRG.L, BMPS.MI, BWG.VI, FME.DE, FORTUM.HE, LREN3.SA, SAN, WCH.DE | Banking, Europe, financials, international, Japan, semiconductors, technology, value | The fund initiated multiple new banking positions including Banca Monte dei Paschi di Siena, Banco Santander, and Bank of Ireland, while existing holdings like Barclays and BAWAG performed well. Banks are benefiting from improving market conditions, efficiency gains, and strategic positioning for profitability growth. Strong performance from Lasertec Corporation driven by solid earnings and management commentary about gaining momentum in deal activity. The company is positioned for a pivotal inflection point in process control intensity as it transitions toward high-volume manufacturing with new APMI tools. Fortum is positioned as a compelling opportunity to benefit from data center expansion, particularly through above-market power purchase agreements. The Nordic region offers advantages including low-cost power, cooler climates, and strong fiber infrastructure for rapid energy access. Multiple companies are positioned to benefit from AI adoption including TDK Corporation through higher density battery needs and Edge AI demand, and Kuaishou Technology through AI-driven video tools that enhance content recommendation and ad targeting capabilities. | WCH GR 6762 JP 1024 HK 6856 JP 6367 JP 4751 JP BIRG LN SAN SM 3436 JP FME GR 7832 JP BG AV BARC LN 6920 JP |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Mar 25, 2026 | Seeking Alpha | Seeking Alpha | Banco Santander, S.A. | Financial Services | Banks - Global | Bull | Bolsa de Madrid | Acquisitions, AI integration, Banco Santander, Customer growth, Digital transformation, dividend yield, efficiency gains, financial services, P/E ratio, shareholder value | View Pitch |
| Mar 16, 2026 | Substack | Uzo Capital | Sanofi | Healthcare | Pharmaceuticals | Bull | Euronext Paris | CEO transition, Defensive growth, Dividend Growth, low leverage, monetization, Option strategy, pharmaceuticals, Sanofi, Share Buybacks, undervalued | View Pitch |
| Aug 13, 2025 | Seeking Alpha | Eliana Scialabba | Banco Santander | Financials | Banks - Diversified | Bull | NYSE | — | 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. | ||||||||