SUZB3-SA

SUZB3-SA

SUZB3-SA

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2023 Q3	Sep 30, 2023	Platinum International Fund	-0.2%	-	000001.SZ, 005930.KS, 051910.KS, 6479.T, 7011.T, ALLFG.L, INDI.NS, MCHP, PDD, SUZB3.SA, UBS, UPM.HE, WIZZ.L, ZTO	AI, China, Corporate Governance, E-Commerce, global, Japan, value	Chinese e-commerce companies like PDD Holdings and ZTO Express are showing strong growth despite economic headwinds. PDD delivered strong earnings as Chinese consumers boosted online purchases and gained market share. ZTO Express is the leading delivery service in China, growing from 6 billion to 30 billion parcels annually over five years.		View
2023 Q3	Sep 30, 2023	Platinum Global Fund (Long Only)	-1.0%	-	005930.KS, 051910.KS, 0700.HK, 1789.HK, 6479.T, AIR.PA, CCJ, CS, IFX.DE, IGLTA.NS, MCHP, PDD, SLB, SUZB3.SA, TCOM, TSM, UBS, UPM.HE, VAL, WIZZ.L, ZTO	Banking, China, energy, global, special situations, value	Energy holdings were the strongest contributors with oil field services companies Schlumberger and Valaris up nearly 20% and nuclear/uranium stocks like Cameco up 29%. Both sectors are emerging from deep recessions with nuclear arguably emerging from a 40-year hibernation in the West.		View
2026 Q2	Jul 27, 2026	Horos Asset Management	-	-	000660 KS, 005930 KS, AAPL, AMD, AMZN, AVGO, BOL.PA, CIRSA.MC, GOOGL, META, MSFT, MU, NVDA, ODEN.PA, ORCL, STX, SUZB3.SA, TSLA, TSM, WDC	AI, Capital Cycle, inflation, interest rates, semiconductors, technology, Valuations, Value Investing		LDA.MC ODET.PA BOL.PA SUZB3.SA	View
2026 Q2	Jul 22, 2026	Antipodes Global Value Fund	-	-	3445.T, 4194.T, 600312.SS, 6594.T, 6762.T, AMZN, BKNG, CRM, IFX.DE, QRVO, SNY, SUZB3.SA, TSM, TTE, VAL, WDAY	AI, Cloud, Data centers, Energy Transition, Japan, semiconductors, Travel, value		4194.T 6594.T 6762.T QRVO BKNG 6525.T TSM IFX.DE	View
2023 Q2	Jun 30, 2023	Platinum International Fund	-0.9%	-	005930.KS, 0700.HK, 2318.HK, 2338.HK, 6479.T, 8002.T, AIR.PA, ALLFG.L, BAX, CATL, GOOGL, INDIGO.NS, MCHP, RH, SUZB3.SA, TRU, TSM, UPM1V.HE, ZTO	AI, China, Energy Transition, global, rates, technology, value	The extraordinary bounce in technology sector driven by artificial intelligence developments, particularly ChatGPT and NVIDIA's revenue guidance. While AI has extraordinary potential, current investor enthusiasm and valuations of favoured names lead to wariness about obvious plays like NVIDIA.		View
2024 Q1	Apr 15, 2024	Baron Emerging Markets Fund	9.0%	16.2%	0027.HK, 005930.KS, 006400.KS, 0700.HK, 105560.KS, 2313.HK, 2319.HK, 300760.SZ, BABA, BHARTIARTL.NS, HDFCBANK.NS, INDIGO.NS, NU, PDD, RELIANCE.NS, RENT3.SA, SUZB3.SA, TME, TSM, XP, ZLAB	China, Digitization, emerging markets, Fed policy, Fintech, India, Rate Cuts, semiconductors	Taiwan Semiconductor Manufacturing Company Limited contributed significantly due to investor expectations for continued strong cyclical recovery in semiconductors and significant incremental demand for AI chips. The company's technological leadership, pricing power, and exposure to secular growth markets including high-performance computing, automotive, 5G, and IoT will allow sustained strong double-digit earnings growth. Many EM companies including Taiwan Semiconductor, Samsung Electronics, and SK hynix are increasingly recognized as key beneficiaries of the AI phenomenon.		View
2023 Q4	Dec 31, 2023	Platinum International Fund	0.0%	4.2%	6479.T, AIR.PA, CATL, GJET.NS, ICE, IFX.DE, PDD, SSNLF, SUZB3.SA, TM, TU, UBS, UPM.HE, ZTO	China, defensives, Electric Vehicles, semiconductors, technology, value	Chinese EV producers have gained competitive advantage by focusing on lower-cost EVs. BYD and CATL are seen as drivers of continuous improvement across the supply chain. While politics may restrict Chinese companies' ability to export to US and European markets, their home market continues to grow strongly.		View
2025 Q4	Jan 3, 2026	Protean Select	0.0%	10.8%	ADDV.ST, AFRY.ST, ASMO.PA, BOULE.ST, CLAS-B.ST, EQT.ST, HOLMEN-B.ST, ITAB.ST, MAERSK-B.CO, NLF.CO, PEXIP.OL, REJL.ST, RUSTA.ST, SINCH.ST, STO.ST, SUZB3.SA, UPM.HE	Energy Transition, Esg, Forest Products, Long/Short, Nordics, small cap, value	Nordic forest industry faces structural headwinds from eucalyptus competition taking market share, climate-related harvesting challenges, and currency pressures. Holmen specifically struggles with integrated mills, declining paper demand, and the contradiction between maximizing forest values and industrial margins. Discussion of carbon sequestration claims by forest companies being questionable, with unclear regulations and varying calculation methods. Energy super-profits from forest companies are viewed as transient arbitrage opportunities that should not be extrapolated indefinitely.		View
2023 Q3	Sep 30, 2023	Baron Emerging Markets Fund	9.0%	16.2%	000333.SZ, 005930.KS, 0700.HK, 2313.HK, 600519.SS, BABA, BAJFINANCE.NS, BBRI.JK, BIDU, BZ, HDFCBANK.NS, M&M.NS, NU, SUZB3.SA, TATACOMM.NS, TRENT.NS, TSM, WALMEX.MX	China, emerging markets, Fintech, India, semiconductors, technology, value	Despite recent underperformance driven by near-term economic concerns, the manager remains encouraged by ongoing regulatory and financial easing cycles. China's authorities appear sensitive to market signals with enhanced expectations for more substantial support forthcoming. The manager sees no evidence in China's currency, bond market, or credit spreads that policymakers are losing control.	ARGX BB\|DAVA\|DDOG\|GLOB\|ILMN\|LOAR\|MELI\|NET\|NU\|NVDA\|TSM MAHM.NS 600519.SS TATACOMM.NS SUZB3.SA 000700.HK 005930.KS AIR FP\|ICLR\|LIN\|MRVL\|NOW\|TSM	View
2023 Q4	Jan 27, 2024	Baron Emerging Markets Fund	9.0%	16.2%	000858.KS, 005930.KS, 0700.HK, 1876.HK, B3SA3.SA, BABA, BAJFINANCE.NS, BHARTIARTL.NS, BIDU, HDFCBANK.NS, NU, PDD, RENT3.SA, RI.PA, SUZB3.SA, TRENT.NS, TSM, XP, YUMC	China, E-Commerce, emerging markets, Fed policy, Fintech, India, Rate Cuts, semiconductors	The fund added PDD Holdings, China's second largest e-commerce platform with 20% market share. PDD's competitive moat lies in its team purchase model facilitating bulk buying through direct partnerships with manufacturers. The company's international platform Temu has become one of the fastest growing apps globally, leveraging China's excess manufacturing capacity.	KAYNES.NS PDD TRENT.NS 005930.KS AIR FP\|ICLR\|LIN\|MRVL\|NOW\|TSM	View
2021 Q1	-	FCL Capital	14.1%	14.1%	2020 HK, BHP, BRFS, CPRI, ENT.L, FLRY3.SA, MONC.MI, RIO, SUZB3.SA, VALE, VIPS, YDUQ3.SA, YY	China, commodities, emerging markets, growth, Iron Ore, Mining, value			View
2021 Q4	-	FCL Capital	-	-4.4%	BRFS3.SA, CPRI, ENT.L, FLRY3.SA, GDDY, HFG.DE, SUZB3.SA, VIPS, YDUQ3.SA, YY	Brazil, contrarian, E-Commerce, emerging markets, Food, HelloFresh, technology, valuation		HFG.DE	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jul 29, 2026	Fund Letters	Horos Asset Management	Suzano S.A.	Paper & Paper Products	Paper Products	Bull		Brazil, Commodity Cycle, Cost leadership, Cyclical, family ownership, Packaging, Paper Products, Pulp Producer, Tissue, Value	View Pitch
Jul 25, 2026	Fund Letters	Antipodes Global Fund	Suzano	Paper & Paper Products	Paper Products	Neutral		Brazil, China Demand, Commodities, Cyclical, hardwood pulp, Low-cost producer, materials, Pulp & paper	View Pitch
Apr 28, 2026	Fund Letters	Baron Emerging Markets Fund	Suzano S.A.	Materials	Paper & Forest Products	Bull	B3	Brazil, Carbon Credits, ESG, Fossil-to-fiber, Low-cost producer, materials, Paper, Pulp, Sustainability	View Pitch

BSD Shareholders of SUZB3-SA

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.

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