SPX-L

SPX-L

SPX-L

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q3	Sep 30, 2024	Bianco Research	-	-	BABA, BTI, CHTR, CRDA.L, DGE.L, FAST, HILS.L, MCO, MSFT, ORCL, PM, POOL, REL.L, SCHW, SGE.L, SPX.L, TMO, TXN, WSO	Diversified, global, long-term, Private Capital, Public Companies, value creation	Oracle, Microsoft, and Alibaba Group were strong performers driven by their cloud businesses and AI-related services. Oracle's share price rose sharply following a series of AI-related announcements which led to a significant re-rating of the shares. The manager took advantage of this performance to realize gains from Oracle.		View
2025 Q2	Jul 9, 2025	Ennismore Global Equity Fund	-	7.5%	ACP.WA, ADM.L, AUTO.L, CLNX.MC, FLTR.L, HEMNET.ST, KARNOV.ST, MRO.L, NNI, PDX.ST, RYA.L, SPX.L, WISE.L	AI, Capital Allocation, Controlled Companies, Europe, Long/Short, Quality, value	Karnov Group is positioned as one of the most compelling AI beneficiaries in public markets, with AI tools priced at 30% premium to standard licenses accelerating revenue growth. Legal professionals see clear ROI from improved efficiency as the cost of a license is a fraction of a junior associate's salary.	CLNX.MC ASSECO.WA KRNV.ST TIGO KAR SS FLUT	View
2025 Q2	Jul 15, 2025	Upslope Capital Management	8.9%	3.4%	8697.T, CHG.L, CME, DPLM.L, DSFIR.AS, EVR, FCN, HOLN.SW, HSY, MKTX, QQ.L, SAND.ST, SMIN.L, SPX.L, TDY	defense, Europe, Exchanges, Hedging, Industrial, Long/Short, value, volatility	The fund holds defense contractors including Chemring and Teledyne Technologies, with Chemring being a top contributor during the quarter. The manager notes accelerating sector tailwinds and describes the cyclical boom in defense markets.	EVR FCN SMIN.L EVR FCN SMIN LN	View
2025 Q1	Apr 23, 2025	Oak Ridge investment	-	-	BABA, BTI, CHTR, CRDA.L, DGE.L, FAST, HILS.L, MCO, MSFT, ORCL, PM, POOL, REL.L, SCHW, SGE.L, SPX.L, TMO, TXN, WSO	diversification, Funds, Long Term, NAV, Private Capital, Public Companies	Oracle, Microsoft and Alibaba Group were strongest performers driven by their cloud businesses and AI-related services. Oracle's share price rose sharply following a series of AI-related announcements which led to significant re-rating of the shares. The company took opportunity to realise gains from Oracle position given strong AI-driven performance.		View
2026 Q1	Apr 21, 2026	Bronte Capital Amalthea Fund	-5.9%	-5.9%	5016.T, COF, CTVA, GOOGL, IBKR, IHG, KO, LLY, NVO, SPX.L, V, VNP.TO	energy, Europe, Geopolitical, global, Long/Short, Quality, valuation			View
2026 Q1	Apr 16, 2026	Fairlight Global Small & Mid Cap Fund	-14.2%	-14.2%	DPLM.L, FERG, G24.DE, HLMA.L, MEDP, RAA.DE, REC.MI, SCT.L, SPX.L	Distribution, global, healthcare, industrials, Quality, small cap, technology			View
2026 Q1	Apr 10, 2026	Ennismore Global Equity Fund	-0.7%	-0.7%	ADM.L, AT.VI, AUTO.L, CLNX.MC, CRDA.L, FLTR.L, GNS.L, PDX.ST, SPX.L, WISE.L	AI, Capital Cycle, gaming, global, Long/Short, Protein, small caps			View
2025 Q1	Apr 1, 2025	Guinness China	-0.1%	-0.1%	BABA, BTI, CHTR, CRDA.L, DGE.L, FAST, HILS.L, MCO, MSFT, ORCL, PM, POOL, REL.L, SCHW, SGE.L, SPX.L, TMO, TXN, WSO	diversification, Funds, Long Term, NAV, Private Capital, Public Companies	Oracle, Microsoft, and Alibaba Group were strong performers driven by their cloud businesses and AI-related services. Oracle's share price rose sharply following AI-related announcements which led to significant re-rating of the shares. The company took opportunity to realize gains from Oracle given the strong AI-driven performance.		View
2025 Q1	Mar 31, 2025	Evolve Private Wealth	-	-	BABA, BTI, CHTR, CRDA.L, DGE.L, FAST, HILS.L, MCO, MSFT, ORCL, PM, POOL, REL.L, SCHW, SGE.L, SPX.L, TMO, TXN, WSO	Diversified, Funds, Investment Trust, long-term, Private Capital, Public Companies	Oracle, Microsoft, and Alibaba Group were strong performers driven by their cloud businesses and AI-related services. Oracle's share price rose sharply following a series of AI-related announcements which led to a significant re-rating of the shares. The company took the opportunity to realize gains from Oracle given the strong AI-driven performance.		View
2024 Q4	Dec 31, 2024	Bronte Capital Amalthea Fund	-	-	AVTR, GOOGL, IBKR, QSI, REGN, SAR.DE, SPX.L, VRTX	Biotechnology, global, Long/Short, Quality, risk management, Shorts, value	The fund discusses bioprocessing as a growth industry experiencing post-COVID cyclical challenges. Watson Marlow's peristaltic pumps are ubiquitous in biotech labs and bioreactors, with management asserting 10% growth rates despite market skepticism. The bioprocessing market fundamentals remain strong with shifts to single-use systems and personalized medicines.		View
2025 Q3	Nov 25, 2025	Caledonia Investment	-	7.3%	BABA, BTI, CHTR, CRDA.L, DGE.L, FAST, HILS.L, MCO, MSFT, ORCL, PM, POOL, REL.L, SCHW, SGE.L, SPX.L, TMO, TXN, WSO	AI, diversification, global, Private Capital, Public Companies, technology	Strong performance from Oracle, Microsoft and Alibaba Group driven by their cloud businesses and AI-related services. Oracle's share price rose sharply following AI-related announcements which led to significant re-rating of shares. AI developments are creating opportunities across technology holdings.		View
2025 Q3	Nov 16, 2025	Bronte Capital Amalthea Fund	-	-	AMZN, CSCO, DSM.AS, GIVN.SW, GOOGL, IFF, MSFT, NVDA, ORCL, REGN, SPX.L, UL	AI, ETFs, European Stocks, Long/Short, Meme Stocks, risk management, Specialty Chemicals	Fund operates a global long/short strategy targeting attractive risk-adjusted returns. Currently experiencing challenges as the strategy faces a hostile market environment where quality stocks are sold to buy speculative investments, causing losses on both sides of the book.		View
2025 Q3	Oct 20, 2025	Baillie Gifford -International All Cap	1.0%	13.6%	000333.SZ, 005930.KS, 0388.HK, 0700.HK, 1299.HK, 300750.SZ, 4519.T, 4612.T, 4911.T, 6098.T, 6273.T, 669.HK, 6861.T, 7733.T, 7741.T, 7980.T, 8035.T, 8113.T, ABI.BR, ADYEN.AS, AHT.L, AI.PA, ASML, ASSA-B.ST, ATCO-A.ST, AUTO.L, B3SA3.SA, BHP, BIM.PA, BNZL.L, CABK.MC, CFR.SW, DSV.CO, EPIROCK-A.ST, EXO.MI, EXPN.L, FEMSAUBD.MX, GAW.L, GRG.L, HDB, IMCD.AS, INVEB.ST, ITRK.L, JMT.LS, LONN.SW, MC.PA, MELI, NEM.DE, PRX.AS, RADL3.SA, RCO.PA, RMV.L, ROG.SW, RYA.L, SCT.L, SEB-A.ST, SIK.SW, SOI.PA, SPOT, SPX.L, TRN.L, TSM, TTE, UBS, UL, UOB.SI, WALMEX.MX, WEIR.L, WISE.L	AI, Asia, Europe, growth, healthcare, international, semiconductors, technology	Artificial Intelligence remained a dominant theme during the quarter, with several perceived beneficiaries rallying. Rising demand for AI-related chips is pressuring customers to push into more advanced nodes and adopt EUV technology. The rapid adoption of AI applications and high-performance computing is driving unprecedented orders for leading-edge technologies.		View
2025 Q3	Oct 10, 2025	Ennismore Global Equity Fund	0.9%	8.4%	4478.T, ACP.WA, AUTO.L, AZE.BR, BCG.L, CRDA.L, CSU.TO, DIE.BR, GD.TO, GNS.L, PDX.ST, SPX.L, TIGO, WISE.L	AI, Chemicals, Fintech, global, Long/Short, software, Specialty Retail, technology	The AI boom continued with greater fervour over the summer and September. OpenAI has signed roughly 20GW of data centre capacity deals in 2025, almost 20% of the world's installed base. The rush to build is pushing supply chains to breaking point, creating price pressure along the value chain and benefiting picks and shovels players.	WISE LN	View
2023 Q4	Jan 5, 2024	Sparrow Wealth Management	-	-	BABA, BTI, CHTR, CRDA.L, DGE.L, FAST, HILS.L, MCO, MSFT, ORCL, PM, POOL, REL.L, SCHW, SGE.L, SPX.L, TMO, TXN, WSO	Diversified, Funds, Investment Trust, Long Term, Private Capital, Public Companies	Oracle, Microsoft, and Alibaba Group were strong performers driven by their cloud businesses and AI-related services. Oracle's share price rose sharply following AI-related announcements which led to significant re-rating of the shares. The company's AI focus contributed to strong returns across the Capital portfolio.		View
2024 Q4	Jan 19, 2025	Sharp Capital	-	-	BABA, BTI, CHTR, CRDA.L, DGE.L, FAST, HILS.L, MCO, MSFT, ORCL, PM, POOL, REL.L, SCHW, SGE.L, SPX.L, TMO, TXN, WSO	Diversified, global, Long Term, Private Capital, Public Companies, value	Oracle, Microsoft, and Alibaba Group were strong performers driven by their cloud businesses and AI-related services. Oracle's share price rose sharply following AI-related announcements which led to significant re-rating of the shares. The company's AI focus contributed to strong returns across the Capital portfolio.		View
2025 Q4	Jan 16, 2026	Ennismore Global Equity Fund	-4.1%	4.0%	3994.T, ACP.WA, AUTO.L, BCG.L, FORTY.TA, PDX.ST, PRJ.WA, SPX.L, STC.L, WISE.L	AI, Classifieds, disruption, global, Long/Short, small caps, technology	The year's dominant theme has been physical vs. digital, with AI disruption fears broadening beyond obvious early casualties to wider sectors including software, digital advertising, and business information. The manager provides extensive analysis of AI disruption risks to classified platforms, concluding that while the bear case is coherent, it overstates key dynamics and underestimates structural barriers protecting incumbents. The fund holds eight long positions in classifieds representing 11% of NAV. Share prices are down 30-50% over six months as the market prices in AI disruption risks. The manager argues the bear case is substantially wrong, citing verified inventory advantages, multi-sided lock-in effects, and partnership rather than displacement as the natural structure. Watson Marlow experienced a Covid-driven boom-bust cycle followed by multi-year inventory unwind that stabilized in 2025. Destocking has ended across the sector with companies like Sartorius Stedim, Danaher, and Merck reporting solid growth. The manager estimates biopharma sales could grow 30% in 2026.	BCG LN AUTO LN SPI LN PDX SS WISE LN	View
2025 Q1	Apr 18, 2025	Baillie Gifford -International All Cap	0.5%	0.5%	2330.TW, 6273.T, 8035.T, ASML, BHP.AX, ROG.SW, SPX.L, SRT3.DE, UBS	banks, China, Cyclical, defense, Europe, growth, international, semiconductors	European defense companies have rallied strongly driven by government announcements of increased spending. However, determining which companies will benefit most remains challenging due to local politics, uncertainty about future warfare requirements, and significant re-rating that may have eliminated upside potential.		View
2025 Q1	Apr 14, 2025	Upslope Capital Management	-5.1%	-5.1%	8697.T, ATR, CHG.L, CME, CRL, DPLM.L, HOLN.SW, HSY, MKTX, QQ.L, SAND.ST, SPX.L, TDY, VFC	defense, Europe, Long/Short, mid cap, Onshoring, Trade Policy, volatility	The fund maintains significant exposure to defense contractors including Teledyne, Chemring, and QinetiQ, positioned to benefit from accelerated defense spending driven by the war in Ukraine and changing geopolitical landscape. These companies are well-positioned for long-term growth in defense budgets.		View

Pitches With This Ticker

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

BSD Shareholders of SPX-L

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.

Join for free and get access to the buyside

Get insights from the world's most influential hedge fund investors direct to your inbox

Follow Us On: