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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | Sep 30, 2025 | ACATIS Investment | - | -0.2% | 2330 TT, 6920 JP, AMRZ, ANSS, CLS CN, CRM, DWNI GR, HAL, HIMS, HOLX, ICE, ISRG, KGH PW, KRN GR, KVUE, KYGA IR, LRCX, PEP, SNPS, UMI BB, UNH, UPWK, VNA GR, ZAL GR | energy security, fiscal deficits, Global Fragmentation, Industrial Policy, Trade Policy | The report discusses mounting geopolitical fragmentation and policy uncertainty, emphasizing how trade tensions, fiscal imbalances and shifting global alliances are reshaping capital flows and regional growth prospects. Management highlights structural challenges in Europe alongside opportunities tied to industrial policy, energy security and technological sovereignty. In this environment, ACATIS positions portfolios toward globally competitive companies with resilient business models and exposure to long-term structural trends rather than cyclical macro swings. | UPWK UMI BB PEP KGH PW HIMS HAL ZAL GR CLS CN SNPS HOLX ICE KRN GR 2330 TT |
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| 2025 Q2 | Jul 28, 2025 | Harry Qelm Baabsman Ltd | - | 9.7% | ADBE, CRM, GOOG, LIGHT NA, NVDA, NXT, PUM GR, SEDG, VWSB GR, ZAL GR, ZM | dislocation, Intrinsic Value, long-term, valuation gaps, volatility | The letter discusses extreme market dislocations caused by speculative behavior in AI-linked mega caps and short-term trading dominance. Management warns that pricing volatility has decoupled from fundamentals, creating opportunities in undervalued sustainable energy, technology, and consumer businesses. The outlook favors patient capital, intrinsic value discipline, and long holding periods. | ADBE PUM GR VWSB GR NXT ZAL GR ZM CRM |
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| 2025 Q2 | Jul 21, 2025 | Sands Capital Global Growth Fund | 21.7% | 14.4% | ABNB, AXON, BLDR, CSL, ICE, MELI, NET, NFLX, NKE, NVDA, ONON, PME AU, TEAM, ZAL GR | AI, Cloud, growth, Platforms | NET MELI AXON NFLX NVDA |
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| 2024 Q4 | Feb 19, 2025 | Harry Qelm Baabsman Ltd | - | -8.5% | ADBE, CRM, HFG GR, LIGHT NA, NXT, PUM GR, SEDG, ZAL GR, ZM | - | View | ||
| 2023 Q4 | Dec 31, 2023 | Harry Qelm Baabsman Ltd | - | 6.8% | CRM, HFG GR, LIGHT NA, SEDG, TPIC, ZAL GR, ZM | - | View | ||
| 2022 Q4 | Dec 31, 2022 | Harry Qelm Baabsman Ltd | - | - | BIRD, GOOG, HFG GR, TPIC, ZAL GR | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 26, 2026 | Fund Letters | Dr. Hendrik Leber | Zalando SE | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | Xetra | acquisition, e-commerce, margin expansion, platform, synergies | View Pitch |
| Jan 8, 2026 | Fund Letters | Mr. Damir Babanazarov | Zalando SE | Consumer Discretionary | Internet & Direct Marketing Retail | Bull | Xetra | ecommerce, Europe, Evsales, fashion, Margins, recovery | 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. | ||||||||