TPK-L

TPK-L

TPK-L

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Aug 7, 2025	Moerus Capital Management	15.9%	20.2%	0388.HK, 1200.HK, 1821.HK, BBDO, CBD, CCO, CPA, CS.TO, DC.TO, DESP, DOUG, EDELWEISS.NS, EFX.TO, FIH.TO, GGAL, TDW, TPK.L, UCG.MI, VAL, WPM	Brazil, Hong Kong, international, Offshore Drilling, Precious Metals, tariffs, value, volatility	Fund focuses on investing in depressed and unpopular businesses at attractive prices, seeking opportunities where low expectations are priced in. Manager emphasizes buying quality businesses at unusually depressed valuations when skies seem darkest.	TDW VAL TPK LN BBD	View
2025 Q1	Mar 31, 2025	Oakmark Fund- International Small Cap	8.2%	8.2%	ATE.L, DMET.ST, GXI.DE, IOS.DE, ISS.CO, LOOM.ST, LXS.DE, SMDS.L, SUN.SW, SWON.SW, TPK.L, ZGN.MI	consumer, Europe, industrials, international, small cap, value	The fund initiated a position in Ermenegildo Zegna, a global luxury fashion house and the world's largest luxury menswear specialist. Despite recent challenges from slowing Chinese demand affecting brands like Thom Browne, management is establishing Zegna as an absolute luxury brand and addressing operational issues. The current valuation does not reflect the long-term growth and normalized earnings profile.	IOS.DE GXI.DE ZEGN.MI	View
2025 Q4	Feb 10, 2026	Kopernik Global All-Cap Fund	8.0%	64.8%	015760.KS, 3690.HK, BHP, CMCSA, CNC, CVE.TO, GLEN.L, Gold, MOH, NAK, NG, PDN.AX, RGLD, RRC, SDF.DE, SEA.TO, SQM, TPK.L, TWE.AX, VALE	diversification, global, materials, Mining, Precious Metals, undervaluation, value	Gold prices rose 65% in 2025, with precious metals miners performing strongly. The fund trimmed gold positions significantly from 15% to 9% of the portfolio due to strong performance, rolling gains into platinum and industrial metals where more upside is seen. Platinum group metals producers were among the largest contributors for the second consecutive quarter. South African companies Valterra and Impala had strong returns of 20.7% and 26.4% respectively, with substantial upside potential remaining relative to risk-adjusted intrinsic value estimates. After over a decade of underperformance, value stocks had a strong fourth quarter with Russell 1000 Value up 3.3% versus 1.2% for growth. The manager believes the market is beginning to recognize value, emphasizing buying good companies for less than they are worth. Conglomerates performed well with Cresud up 48.7% and LG Corp up 9.1%. The manager notes conglomerates are complex and difficult to analyze, frequently ignored by the market, providing significant opportunities for fundamental bottom-up analysis.	IMP SJ VAL SJ	View
2024 Q4	Dec 31, 2024	Renaissance Investment Management – International Small Cap Equity	-	-	6481.T, 6849.T, ATAT, BB.PA, CLS, CSTM, CWK, ERO, FINV, IMAX, MRX.L, MTLS, NEXNY, OSW, PLYA, PRMB, RDWR, SPNS, STNG, TPK.L, UBI.PA, WNS	China, Europe, international, small cap, tariffs, Trade Policy	Trade tensions are front of mind for investors and likely to ratchet higher in 2025 after Trump takes office. Trump has floated ideas such as a 10% tariff on all imports and 60% tariff on Chinese imports. Countries running large trade deficits with the US are most at risk.		View
2025 Q4	Jan 29, 2026	Pzena Global Small Cap Focused Value Strategy	-1.0%	12.8%	240810.KS, 9065.T, AAP, ADNT, BIRG.L, BPE.MI, MRC, NOKBF, RCO.PA, REZI, SCS, ST, TEP.PA, TPK.L, UMI.BR, UNI.MC, WGO	consumer discretionary, financials, global, small cap, underperformance, valuation, value	The portfolio remains attractively valued and is currently among the most inexpensive across the geographies and market cap ranges managed by Pzena. Small-cap stocks remain particularly depressed relative to larger companies. Small-cap stocks remain particularly depressed relative to larger companies, with the portfolio's relative performance being challenged. U.S. small caps modestly underperformed large caps during the quarter.	WGO KNX	View
2024 Q3	Sep 30, 2024	Oakmark Global Fund	7.5%	0.0%	005930.KS, 3739.T, AKZA.AS, BABA, BAYN.DE, CSCO, DEO, GOOGL, KER.PA, SAP, SJP.L, TPK.L	Coatings, financials, global, healthcare, Luxury, technology, value	Kering faced challenges as revenue trends deteriorated in the final weeks of Q2 2024, with store traffic hurt by lack of new client recruitment amplified by challenging macro environment, particularly in China. Despite new Gucci Creative Director's collections resonating with existing customers, the company issued weak guidance for remainder of 2024.	9751.T DGE.L AKZA.AS KER.PA SJP.L	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 TPK-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.

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