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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | Sep 30, 2025 | Antipodes Global Fund | - | - | 000660.KS, 0700.HK, 300750.SZ, 3690.HK, 4063.T, 6367.T, 6702.T, AAPL, ALLY, ASAI3.SA, AVGO, COF, EAT, GMED, Gold, GOOGL, MRK, MSFT, MU, NG.L, NVDA, PCOR, TSLA, UBS | AI, China, Electric Vehicles, global, gold, healthcare, semiconductors, technology | AI euphoria continued driving US technology sector performance with notable capex and forward revenue headlines. Policy support for local chip manufacturers and acceleration in AI spend from China's biggest tech names fueled rallies. AI servers require three times more silicon than traditional servers, offering powerful tailwinds for semiconductor companies. | View | |
| 2024 Q3 | Sep 30, 2024 | Platinum International Fund | 2.0% | - | 005930.KS, 055550.KS, 0700.HK, 1801.T, 1928.HK, 2318.HK, 6201.T, 6479.T, 7203.T, AVGO, DSV.CO, ICE, JD, MCHP, TRU, TSM, UBS | Asia, China, rates, semiconductors, Stimulus, value | Chinese authorities announced comprehensive stimulus measures in late September to stabilize the property market and boost the economy. The breadth and tone were notably more aggressive than previous efforts, explicitly calling out support for domestic equity markets. This triggered a swift rally with Chinese stocks rising 25% in five days from the first announcement. | View | |
| 2024 Q3 | Sep 30, 2024 | Platinum Global Fund (Long Only) | 0.0% | - | 005930.KS, 055550.KS, 0700.HK, 1109.HK, 1810.HK, 3968.HK, 6201.T, 6479.T, 7203.T, AVGO, DSV.CO, ICE, INDIGO.NS, JD, MCHP, MU, PING, TRIP, TSM, TU, UBS, ZTO | China, interest rates, Japan, Korea, Logistics, semiconductors, Stimulus, value | The most important event during the quarter was the combined statements from the Politburo and the People's Bank of China aimed at drawing a line under the property market and lifting the economy out of its slump. The breadth and tone of the announcements were notably more aggressive and in a surprise move they explicitly called out support for the domestic equity market. This has triggered a swift rally in Chinese stocks, with the mainland A-share index rising 25% in five days from the first announcement on September 23rd. | View | |
| 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 | |
| 2025 Q2 | Jul 17, 2025 | Platinum International Fund | 0.3% | - | 000660.KS, 005930.KS, 055550.KS, 0700.HK, 1109.HK, 1801.T, 2269.HK, 2318.HK, 6141.T, 6503.T, 6758.T, 6861.T, 7203.T, 7974.T, 8035.T, 8725.T, 8802.T, 9618.HK, ADI, ALLFG.L, AMZN, AS1R.HE, ASML, AVGO, BARC.L, CCO, CLNX.MC, FLTR.L, FOXF.L, GDNP.SW, GLE.PA, GOOGL, INGOA.NS, ITX.MC, JMT.LS, KLAC, LRCX, LSE.L, MA, MCHP, META, MOWI.OL, MSFT, MU, NFLX, NVDA, NVS, ORSTED.CO, RCI, SAP, STJ.L, TSMC, TXN, UBER, UBS, UL, V, VAL, VEEV, WIZZ.L, ZTS | AI, Asia, defense, Korea, nuclear, semiconductors, technology, Trade | AI drives significant demand for semiconductors, data centers, and nuclear energy. Companies like Broadcom, NVIDIA, and TSMC are benefiting from AI capex spending. AI agents could reshape device interactions and potentially disrupt traditional platforms like Apple's iOS. | WIZZ LN CCO CN |
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| 2025 Q2 | Jul 17, 2025 | Platinum Global Fund (Long Only) | 2.6% | - | 000660.KS, 005930.KS, 055550.KS, 1109.HK, 2057.HK, 2318.HK, 6141.T, 6503.T, 6758.T, 700.HK, 7203.T, 7974.T, 8035.T, 9618.HK, AMZN, ASML, AVGO, BARC.L, CCO, GLE.PA, GOOGL, INGOF, LRCX, META, MOWI.OL, MSFT, MU, NFLX, NVDA, NVS, ORSTED.CO, RCI, TSM, UBER, UBS, UL, V, VAL, VEEV, WZZAF, ZTS | AI, Asia, defense, Korea, nuclear, semiconductors, technology, Trade Policy | AI stocks are experiencing strong performance with companies like Broadcom, Nvidia, and TSMC outperforming. The fund discusses valuation methodologies for AI stocks using theoretical adjusted price to sales models. AI is driving increased demand for nuclear energy and data centers, benefiting holdings like Cameco. | WIZZ LN CCO CN |
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| 2025 Q2 | Jul 17, 2025 | Platinum Asia Fund | 3.9% | - | 000660.KS, 005930.KS, 009150.KS, 035420.KS, 0700.HK, 1109.HK, 2269.HK, 2318.HK, 6758.T, 7203.T, 7974.T, AMZN, AVGO, CCO, GOOGL, INGOA.NS, JD, MA, META, MOWI.OL, MSFT, NFLX, NVDA, NVS, ORSTED.CO, RCI, TSM, UBER, UBS, UL, V | AI, Asia, defense, Korea, nuclear, semiconductors, technology, Trade Policy | Korea is experiencing corporate governance reforms through the Value-Up Program and Commercial Act amendments that should reduce the Korea discount. The country benefits from geopolitical alignment with the West in defense manufacturing and has competitive advantages in semiconductors, nuclear power, and cultural exports. | TSM 2202 HK MYOR IJ |
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| 2025 Q2 | Jul 17, 2025 | Platinum International Brands Fund | 6.6% | - | 000660.KS, 005930.KS, 055550.KS, 0700.HK, 1109.HK, 1801.T, 2269.HK, 2318.HK, 4543.T, 5401.T, 6141.T, 6503.T, 6758.T, 6954.T, 7203.T, 7974.T, 8035.T, 8725.T, 8802.T, 9618.HK, AAPL, ADI, ALLFG.L, AMER, AMZN, ASML, AVGO, BARC.L, CCO, CLNX.MC, ELF, FLTR.L, FOXF.L, GLE.PA, GOOGL, IDXX, INGOA.NS, ITX.MC, JMT.LS, KLAC, LRCX, LSE.L, MA, MCHP, MEITUAN, META, MOWI.OL, MSFT, MU, NFLX, NVDA, NVS, ORSTED.CO, RCI, SAP, STJ.L, TCOM, TSMC, TXN, UBER, UBS, UL, V, VAL, VEEV, WING, WIZ.L, ZTS | AI, Asia, defense, Korea, nuclear, semiconductors, technology, Trade Policy | AI stocks are experiencing strong performance with companies like Broadcom, Nvidia, and TSMC outperforming. The fund developed a TAPS valuation model for AI stocks, finding many trade at high valuations relative to growth rates. AI is driving increased energy demand, benefiting nuclear and power infrastructure companies. | IDXX WING GALD SW |
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| 2025 Q2 | Jul 17, 2025 | Platinum International Technology Fund | 18.4% | - | 000660.KS, 005930.KS, 055550.KS, 0700.HK, 1109.HK, 1801.T, 2269.HK, 2318.HK, 6141.T, 6503.T, 6758.T, 6861.T, 7203.T, 7974.T, 8113.T, 8725.T, 8802.T, 9618.HK, ALLFG.L, AMRS.HE, AMZN, ASML, AVGO, BARC.L, CCO, CLNX.MC, FLTR.L, GDNP.SW, GLE.PA, GOOGL, IDXX, INGOA.NS, ITX.MC, JMT.LS, LRCX, META, MOWI.OL, MSFT, MU, NFLX, NVDA, NVS, ORSTED.CO, RCI, STJ.L, TSMC, UBER, UBS, UL, V, VAL, VEEV, WING, WIZZ.L, ZTS | AI, China, defense, Korea, nuclear, semiconductors, technology, Trade Policy | AI stocks are being valued using theoretical adjusted price to sales models. The fund holds AI enablers in semiconductors and large language models. AI is driving demand for nuclear energy and data centers, benefiting holdings like Cameco and semiconductor companies. | KLAC |
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| 2024 Q2 | Jun 30, 2024 | Platinum International Fund | -1.0% | - | 005930.KS, 0700.HK, AAPL, AMZN, AVGO, GOOGL, INTERGLOBE.NS, KER.PA, MC.PA, META, MSFT, MU, NFLX, NKE, NVDA, PUMA.DE, TSM, TSMC, UBS, ZTO | AI, China, global, semiconductors, technology, value | AI-related holdings performed strongly with TSMC and Broadcom up around 20%. Apple highlighted AI functionality as the next competitive battleground for smartphones, requiring 10-12GB of RAM to handle AI tasks. This boosted DRAM producers as AI integration becomes the new method of differentiation. | View | |
| 2024 Q2 | Jun 30, 2024 | Platinum Global Fund (Long Only) | -2.0% | - | 005930.KS, AAPL, ADBE, AMZN, AVGO, GOOGL, JD, META, MSFT, NFLX, NKE, NVDA, PUMA.DE, TCEHY, TRIP, TSM, UBS, UPM.HE, WIZZ.L, ZTO | AI, China, global, semiconductors, technology, value | AI-related companies enjoyed several positive developments with TSMC raising prices for leading-edge nodes used to make AI chips. Apple highlighted that AI functionality will be the next competitive battleground for smartphones, boosting DRAM producers as new phones would likely need 10-12GB of RAM to handle AI tasks. | View | |
| 2024 Q1 | May 23, 2024 | Bronte Capital Amalthea Fund | -3.7% | 0.0% | FL, GOOGL, HIBB, META, NKE, SPXS.L, UBS | Advertising, global, Long/Short, retail, Shorts, technology | Google Search is a $280 billion business growing over 10% annually and accelerating. The manager underestimated how large global advertising spend could become, particularly online advertising which can be measured and creates new advertisers. Google's advertising revenue alone is now about a quarter percent of global GDP. | GOOGL HIBB |
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| 2024 Q1 | Apr 22, 2024 | JPMorgan Chase & Co | 0.0% | 0.0% | AAPL, AXP, BAC, BRK.A, C, COF, DFS, FITB, GS, JPM, MS, NTRS, UBS, WFC | AI, Banking, geopolitics, inflation, Leadership, policy, regulation, risk | JPMorgan Chase has grown its AI organization to over 2,000 experts and has 400+ use cases in production across marketing, fraud, and risk. The firm is exploring generative AI for software engineering, customer service, and operations, while investing in data migration to public cloud to unlock AI capabilities. | View | |
| 2026 Q1 | Apr 20, 2026 | Hosking Partners | 3.2% | 3.2% | 000660 KS, 005930 KS, 1662.T, AXP, CCO.TO, COF, DHT, GLW, HAFN.OL, III.L, INSW, JEF, LRCX, MOH.AT, MPC, MU, NE, PSK.TO, PSX, STX, SYF, TDW, UBS, VLO, WISE.L | AI, Capital Cycle, diversification, energy, Geopolitical, semiconductors | View | ||
| 2025 Q1 | Mar 31, 2025 | Platinum International Fund | 0.2% | 0.2% | ABBV, AZN, BABA, BYD, FANUY, GOOGL, JD, KYCCF, MRK, MUFG, NESN.SW, NTDOY, NVS, SONY, TCEHY, TM, TSM, UBS | China, defensives, Europe, Overweight, Pharmaceuticals, Quality, tariffs, volatility | The Fund maintained an overweight position in Chinese stocks throughout the quarter, benefiting from strong performance in February and early March. Good returns from Chinese holdings led to some profit-taking while retaining strong overweight positioning based on continued economic recovery. | View | |
| 2025 Q1 | Mar 31, 2025 | Platinum Global Fund (Long Only) | -1.0% | -1.0% | GOOGL, JD, NESN.SW, TSM, UBS | China, defensives, Europe, Pharmaceuticals, Quality, risk, tariffs | The fund has rotated towards pharmaceutical manufacturers due to a 'risk contango' opportunity where safer, high-quality businesses offer better potential returns than speculative technology stocks. Holdings include AbbVie, AstraZeneca, Merck, and Novartis, which are viewed as defensives that can protect capital in downturns while offering high profit potential due to depressed share prices. | View | |
| 2024 Q1 | Mar 31, 2024 | Platinum Global Fund (Long Only) | 5.7% | 5.7% | 005930.KS, AIR.PA, AVGO, GOOGL, INTC, META, MU, TCOM, TRU, TSM, UBS, UPM.HE, WIZZ.L, ZTO | AI, global, semiconductors, technology, Travel | Fund holds companies benefiting from AI investment including TSMC, Micron, Meta, and Alphabet. Manager takes measured approach, investing in reasonably-valued businesses that perform well if AI spending continues but have strong non-AI businesses as foundation. Overall AI exposure is roughly 14% of portfolio. | View | |
| 2023 Q1 | Mar 31, 2023 | Driehaus Micro Cap Growth Strategy | 2.0% | 2.0% | AGYS, ELF, PI, TMDX, UBS, XENE | Banking Crisis, Fed policy, growth, healthcare, inflation, Micro Cap, Recession, technology | Regional bank failures including Silicon Valley Bank and Signature Bank created a banking crisis in March. The crisis was driven by concentrated deposit bases, uninsured deposits, and forced treasury sales at losses rather than credit quality issues. Emergency Fed measures including deposit guarantees and the Bank Term Funding Program helped restore stability. | View | |
| 2024 Q4 | Dec 31, 2024 | Brandes International Equity Fund | -8.7% | 7.2% | 005930.KS, 1211.HK, 4502.T, 5108.T, 7201.T, BABA, BNP.PA, CAE.TO, EBS.VI, ERJ, GSK, HEI.DE, HEIA.AS, KGF.L, RR.L, SAN.PA, STM, UBS, UHR.SW, WPP.L | China, industrials, international, materials, semiconductors, value | The fund initiated a position in STMicroelectronics, a semiconductor supplier with diverse exposure to automotive, industrial, and personal electronics markets. While the auto semiconductor market weakness has pressured near-term results, the manager believes current challenges are cyclical and sees compelling long-term growth from electric vehicles, ADAS, and IoT adoption. | MKS.L STM |
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| 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 | |
| 2023 Q4 | Dec 31, 2023 | Platinum Global Fund (Long Only) | 3.2% | 14.3% | 005930.KS, 1928.HK, 6862.T, BALL, BAX, CATL, HEIA.AS, IFX.DE, IGPA.NS, JD.L, MU, PDD, RBI.VI, TCOM, TRU, UBS, UPM.HE, WIZZ.L, ZTO | Beverages, Cautious, E-Commerce, global, Opportunities, semiconductors | After a difficult couple of years, semiconductor company shares are turning up on recovering demand for core chips for PCs and mobile phones but also on the increased demand for the high-end chips required for AI-focused technologies. Broad strength across semiconductor names including Micron, Infineon and Samsung Electronics. | View | |
| 2024 Q4 | Dec 18, 2024 | Ninepoint | - | - | AAPL, AMD, AMZN, BLK, COIN, CSCO, GOOGL, IBM, INTC, META, NVDA, PYPL, UBS, V | AI, crypto, energy, gold, infrastructure, private credit, Silver, Trump | Infrastructure positioned to benefit from electrification of the U.S. economy and energy transition. Electricity demand expected to accelerate dramatically led by AI-focused data centers, onshoring of industrial manufacturing, and continued growth of electrified transportation. Despite popular narrative that energy is a sunset industry, demand for oil, natural gas and coal expected to grow longer and stronger than consensus belief. | View | |
| 2025 Q3 | Nov 16, 2025 | UBS Asset Management | - | - | 0700.HK, 7203.T, AAPL, BHP.AX, BP.L, HSBA.L, MC.PA, MSFT, RELIANCE.NS, SAP.DE, SHOP.TO, TSLA, UBS | Banking, Capital markets, Credit Risk, integration, Investment Banking, Switzerland, Wealth management | UBS operates significant capital markets activities through its Investment Bank division, with revenues increasing 23% year-over-year to $3.2bn in Q3 2025. The division saw strong performance in Global Banking and Global Markets, driven by higher revenues in Capital Markets, Advisory, and Financing activities. | View | |
| 2023 Q3 | Nov 14, 2023 | Third Point Partners | 3.9% | 14.0% | BBWI, DHR, HTZ, J, MC.PA, MSFT, PCG, SHEL, UBS, VST | credit, Event-Driven, Leverage, Mortgage, private credit, rates, Structured Credit | The market's current obsession with balance sheet strength creates opportunities to distinguish companies with real versus perceived leverage problems. Third Point sees attractive opportunities in improving credits with bulletproof securities yielding 10%-13%, focusing on defensive industries like healthcare and telecommunications. | View | |
| 2023 Q3 | Nov 10, 2023 | Patient Capital Management | 5.6% | 15.8% | AMZN, ANGI, C, ET, EXPE, GOOGL, IAC, META, MGM, OMF, UBS | banks, dividends, Expectations, Opportunities, Patience, value | Manager sees extreme valuation dispersion with lowest valued stocks trading below 10x earnings. Value Index P/Es are below long-term averages while Growth Index P/Es are above, creating opportunities in mature, low multiple companies with basement level expectations. | ^GSPC |
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| 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 19, 2025 | Artisan International Fund | 5.0% | 34.0% | 015760.KS, 0700.HK, 300750.SZ, 8306.T, 9988.HK, ABI.BR, AI.PA, AMZN, ARGX, BATS.L, BN.PA, BNP.PA, DB1.DE, DTEGY, LLOY.L, LSE.L, NG.L, REL.L, TSCO.L, UBS | Asia, defense, Electrification, Europe, financials, healthcare, international, technology | Government spending on defense will continue to grow systematically over the next decade as NATO countries have committed to spend 5% of their GDP over that time frame. Companies that offer high-quality defense systems and related components at attractive prices will inevitably grow their business. Several holdings within this theme are seeing their order books building over several years. | 3750 HK 012450 KS UBSG SW UCB BB |
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| 2025 Q4 | Jan 19, 2026 | Artisan International Fund | 1.6% | 36.3% | 005930.KS, 0700.HK, 300750.SZ, AI.PA, DANSKE.CO, ELI.BR, NGG, SSE.L, TSCO.L, TSM, UBS | defense, Electrification, Europe, growth, international, semiconductors, Utilities, value | The portfolio benefited from defense holdings including South Korean companies Hanwha Aerospace and LIG Nex1. Defense companies continue to expand globally with European governments investing for security independence outside NATO agreements. The Middle East has emerged as an opportunity area for Korean defense companies. Utilities and grid modernization were areas of strength. National Grid and SSE contributed positively reflecting investor confidence in regulated asset bases and accelerating investment in grid modernization. Elia Group is supported by significant acceleration in capital investment across German and Belgian electricity grids. The portfolio has exposure to electrification trends through companies like LS Electric benefiting from global spending on grid modernization and power transmission infrastructure. CATL provides exposure to battery products for electric vehicles and energy storage systems aligned with long-duration electrification tailwinds. Samsung Electronics provided exposure to AI infrastructure growth as a direct beneficiary of high demand for AI-related chips including DRAM and HBM. Samsung's sixth-generation HBM4 semiconductor recorded the highest operating speed in technical tests, boosting sentiment toward semiconductor manufacturers. | MELI 300750 CH MNC TSCO LN 005930 KS SSE LN NG LN 010120 KS 079550 KS 012450 KS |
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| 2024 Q2 | Jun 30, 2024 | American Century International Growth Fund | 6.6% | 0.0% | 1299.HK, 4063.T, 6861.T, ADYEN.AS, AI.PA, AIR.PA, AKE.PA, ASML, AZN, CRH, EDEN.PA, IFX.DE, JHX, LSEG.L, MC.PA, NESN.SW, NVO, RELX.L, SAP, SRT3.DE, SU.PA, TM, TSM, UBS, UL | Asia, Energy Transition, Europe, healthcare, infrastructure, international, semiconductors, technology | The world's move away from fossil fuels creates opportunities across sectors. Increased demand for electric vehicles and large-scale renewable energy infrastructure projects creates inflection points for well-positioned businesses. AI investment is leading to significant increases in electricity demand to power data centers. | View | |
| 2024 Q2 | Jun 30, 2024 | BlackRock Strategic Income Opportunities Fund | 4.2% | 5.7% | FNMA, MS, UBS, WFC | credit, duration, European credit, fixed income, Structured products, yield curve | The fund tactically increased top-line duration, favoring the belly of the yield curve for its price appreciation potential, particularly from a curve-steepening perspective. They slightly increased exposure to the backend of the yield curve as the more supportive macroeconomic backdrop reduces the potential for rates to sell off in the short term. | View | |
| 2023 Q4 | Jun 1, 2024 | East72 Holdings | 6.3% | 0.0% | 0001.HK, BC, C, DRR.AX, DXS.AX, EXOR, GOOGL, GS, ICE, IWG.L, JPM, MANU, MFG.AX, PAH3.DE, UBS, UHAL, VIRT, VOW3.DE, YBR.AX | Asset Management, Australia, Concentration, Hedging, Investment Banking, Sports Teams, value | Manager discusses significant investments in Goldman Sachs and JP Morgan which contributed positively to quarterly returns. Also analyzes Barrenjoey Capital Partners as a strategic investment representing exposure to Australian investment banking with potential for significant value creation. | MFG.AX MANU |
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| 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 | |
| 2023 Q1 | Mar 31, 2023 | Bronte Capital Amalthea Fund | -3.7% | 0.0% | FCNCA, UBS | Banking, credit, global, Long/Short, risk management | Three major bank failures occurred during the quarter - Credit Suisse, Silicon Valley Bank, and Signature Bank. The fund held short positions in all three but traded them poorly with smaller profits than expected. They initiated new long positions in successor banks UBS and First Citizens Bank, viewing these as attractively priced following the acquisitions. | FCNCA HUBS |
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| 2023 Q4 | Jan 17, 2024 | Patient Capital Management | 5.6% | 15.8% | AMZN, COIN, EXPE, FTCH, GOOGL, KRTX, META, SPLK, UBER, UBS, WAL | Banking, growth, Long/Short, Opportunistic, Quality, technology, value | Manager believes low multiple classic value stocks have been left for dead and offer very handsome return potential after the worst performance in history. Previous episodes of low-multiple underperformance were followed by sustained outperformance averaging 18%-plus annualized returns. | FTCH EXPE WAL HUBS |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Artisan International Fund | UBS Group AG | Banks - Diversified | Investment Banking & Brokerage | Neutral | Swiss Exchange | Capital Reforms, cost savings, investment banking, Regulatory risk, restructuring, Swiss Banking, wealth management | 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 |
|---|---|---|---|---|---|---|---|---|
| David Hoeft | Dodge & Cox | $185.3B | $1.6B | 0.84% | 33,665,342 | -8,976,100 | -21.05% | 1.1387% |
| Andreas Halvorsen | Viking Global Investors | $37.7B | $426.0M | 1.13% | 9,128,817 | -3,967,743 | -30.30% | 0.3117% |
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $4.8M | 0.01% | 103,500 | -84,100 | -44.83% | 0.0035% |
| Steven A. Cohen | Point72 Asset Management | $86.8B | $8.1M | 0.01% | 174,426 | -59,103 | -25.31% | 0.0059% |
| Richard Pzena | Pzena Investment Management | $33.4B | $1.1B | 3.29% | 29,774,573 | +28,100 | +0.09% | 0.8052% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $1.8M | 0.00% | 38,600 | +32,200 | +503.12% | 0.0013% |
| Israel Englander | Millennium Management LLC | $233.2B | $26.8M | 0.01% | 664,600 | -13,066 | -5.53% | 0.0196% |
| Jeremy Grantham | GMO LLC | $39.1B | $1.7M | 0.00% | 37,442 | +30,699 | +455.27% | 0.0013% |
| Terrence Murphy | Clearbridge Investments | $124.9B | $6.2M | 0.01% | 134,577 | -2,341 | -1.71% | 0.0046% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $6.5M | 0.01% | 140,530 | +140,530 | +100.00% | 0.0048% |
| Cliff Asness | AQR Capital Management | $190.6B | $32.4M | 0.02% | 698,229 | +490,353 | +235.89% | 0.0237% |
| Oliver Murray | Brandes Investment | $13.1B | $63.6M | 0.48% | 1,372,632 | -52,807 | -3.70% | 0.0465% |
| Louis Bacon | Moore Capital Management | $6.8B | $102.4M | 1.52% | 2,197,102 | +543,812 | +32.89% | 0.0749% |
| Richard L. Chilton Jr. | Chilton Investment | $4.8B | $11.4M | 0.24% | 246,392 | +246,392 | +100.00% | 0.0083% |
| Rich Handler | Jefferies | $19.3B | $9.8M | 0.05% | 209,349 | +168,793 | +416.20% | 0.0071% |
| Richard Kayne & John Anderson | Kayne Anderson Rudnick Investment Management | $37.3B | $3,010 | 0.00% | 65 | +0 | +0.00% | 0.0000% |