Letters by company
Burberry Group plc
3 letters discussing BBRYF. Everything written about it on this site is on its ticker page.
- Smead Capital Management 1Q26 International Value Strategy Newsletter: Succeeding Unconventionally Smead International Value Strategy concentrates in oil equities after the prior energy capital-spending boom left supply constrained and producers reluctant to expand. It argues that European banks’ cost discipline, buybacks and potential consolidation can sustain returns on capital, while reviewing recoveries in Burberry, Glencore, Frontline and Next. 1Q26 BAWAY $14BBBRYF $5.5BBCS $76B
- Castlebay Investment Partners Sins of omission and financial gravity! Castlebay attributes its divergence from the UK market to avoiding banks, Shell, BAE Systems and Rolls-Royce, arguing their recent rerating is unsupported by retained returns on equity. The fund exited AutoZone on valuation, added to London Stock Exchange Group, Diageo, Domino’s Pizza Group and Novo Nordisk, and argues that durable brands support long-term pricing power. September 2025 AZO $52BBAESY $72BBBRYF $5.5B
- Castlebay Investment Partners Quarterly investor letter December 2025 Castlebay UK Equity Fund frames durable competitive advantages as cornered resources, citing British American Tobacco, Diageo and Compass Group. The fund cut Admiral after its valuation recovery, opened Greggs and AJ Bell, reduced NEXT and Compass Group, and exited AutoZone while arguing that portfolio companies retain stronger profitability and lower debt than the market. 2025 AMIGF $16BBTI $133BCMPGF $58B
