Join for free and get access to the buyside
Get insights from the world's most influential hedge fund investors direct to your inbox
- © 2025 Buyside Digest
- Privacy Policy
- Disclaimer
- Sitemap
- Terms of Service
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Sep 12, 2024 | Azvalor Internacional | - | 1.4% | EDV, NGD, PSLV, TRE.MC | Concentration, Europe, global, Long Term, Quality, value | Azvalor emphasizes investing in companies trading at attractive prices for cyclical or one-time reasons. The portfolio trades at an average FCF yield of 12%, much more attractive than the 4%-6% at which Western markets are trading. Their portfolios have a price/earnings ratio of around 8 times compared to the S&P 500's 22 times. | View | |
| 2023 Q2 | Jul 28, 2023 | Azvalor Iberia | - | 9.4% | ARCH, DEC.PA, ELE.MC, Gold, GRF.MC, NE, NOV, PSG.MC, PSK.TO, TLW.L, TRE.MC, TS.PA, TUB.MC | contrarian, Discipline, energy, Europe, gold, Spain, valuation, value | Azvalor emphasizes disciplined value investing, buying companies trading below intrinsic value and selling when they reach fair value. The fund's price-to-value ratio indicates attractive returns ahead, contrasting with expensive broader markets where only 10 companies drove 82% of S&P 500 returns. | View | |
| 2022 Q1 | May 11, 2022 | Azvalor Iberia | 11.0% | - | A3M.MC, ALTR.LS, CASH.MC, CAT.MC, ENO.MC, GALP.LS, LDA.MC, LOG.MC, TRE.MC, TUB.MC, ZOT.MC | Coal, Concentration, Europe, gold, Mining, Outperformance, Spain, value | View | ||
| 2021 Q4 | Feb 1, 2022 | Azvalor Internacional | - | - | CCJ, CF, GALP.LS, MOS, OCI.AS, PSG.MC, SQM, TRE.MC, YCA.L | Concentration, energy, Europe, Fertilizers, small caps, uranium, value | View | ||
| 2023 Q4 | Feb 28, 2024 | Azvalor Iberia | 0.0% | 23.9% | CASH.MC, EDV.TO, ENO.MC, Gold, IMB.L, JDW.L, MCG.L, NE, NOV, TLW.L, TRE.MC, TS, TUB.MC, VALE, WHC.AX | contrarian, energy, Europe, Mining, Spain, value | Azvalor focuses on investing in companies trading at significant discounts to intrinsic value. The funds currently trade at around 55% of their estimated value, suggesting long-term expected returns above 10%. The firm emphasizes analyzing each company's fundamentals while avoiding market timing predictions. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Ariel International Fund | Tecnicas Reunidas SA | Industrials | Construction & Engineering | Bull | Madrid Stock Exchange | construction, Decarbonization, energy transition, engineering, North America, oil and gas, Spain, turnaround | 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. | ||||||||