Letters by company
Samsung Electronics Co Ltd
22 letters discussing SSNLF. Everything written about it on this site is on its ticker page.
- Fairtree Asset Management Fairtree Global Emerging Markets Fund Q2 2026 Commentary The Fairtree Global Emerging Markets Fund added to Samsung and SK Hynix, increased Tencent and Kiwoom Securities, and opened positions in Kia, Chenbro Micom and OTP Bank while trimming TSMC to meet its position limit. It argues that concentrated momentum leadership in semiconductor stocks penalised its valuation-disciplined tilt, leaving opportunities where holdings have derated faster than business fundamentals. Q2 2026 453950 SKHY $943BSSNLF $1688T
- Vision Capital Fund Vision Capital Fund - Q2 2026 Quarterly Letter Vision Capital Fund exited Lululemon and Paycom after concluding that weakening operating fundamentals were becoming structural, while adding to selected existing holdings after price drawdowns. The fund rejects AI bottleneck trades in memory and supply-chain names, arguing that architectural innovation and new capacity can erode scarcity premiums, and favors durable platform businesses such as Tencent and Mastercard. Q2 2026 AAPL $4.9TAVGO $1.8TLULU $10B
- Chilton Capital Management Portfolio Insight | 2ND Quarter 2026 Chilton Capital Management argues that broad-based earnings revisions and the AI investment cycle support equities despite inflation and tighter-rate risks. Its REIT strategy increased office exposure during the selloff, added Blackstone Digital Realty, and favors data centers and other heavy-asset sectors with low obsolescence risk. 2ND Quarter 2026 BXP $9.5BSKHY $943BSSNLF $1688T
- Harding Loevner International Equity Second Quarter 2026 Report Harding Loevner trimmed Samsung Electronics, TSMC, ASML and other technology holdings as AI-driven semiconductor profits pushed valuations and concentration risk higher. The portfolio added Spotify, arguing that its scale and AI product development can defend its competitive position, while retaining selective exposure to memory and semiconductor equipment suppliers. Second Quarter 2026 035420 $21BNTES $76BSKHY $943B
- Polaris Capital Management Second Quarter 2026 International Equity Composite Commentary Polaris International Equity Composite sold HD Hyundai Electric and SKF, added Astor Transformator Enerji, Fujifilm Holdings and UniCredit, and attributed IT strength to demand for memory chips. The portfolio sees concentrated growth leadership, sticky inflation and the Iran truce creating valuation dislocations among cash-generative international businesses. Second Quarter 2026 ENI $85BHDIH IX $40B
- First Eagle Investments Overseas Fund Commentary Overseas Fund repositioned into international stocks viewed as attractively valued while maintaining a strategic gold allocation against geopolitical and debt risks. Samsung Electronics, Samsung Life, Merck KGaA, Taiwan Semiconductor and Richemont benefited from memory-chip demand, insurance economics, life-science expansion, AI-chip scarcity and resilient luxury demand. second quarter 2026 032830 $41BBABA $270BCFRHF $122B
- Polaris Capital Management Second Quarter 2026 Global Equity Composite Commentary Polaris Global Equity Composite added Adobe, Fujifilm, UniCredit, Cytokinetics and Booking Holdings while exiting MKS, HD Hyundai Electric, SKF and Daicel. It favors AI-memory beneficiaries and discounted cash-generative businesses, arguing that concentrated growth leadership has created value opportunities across international markets. SECOND QUARTER 2026 ADBE $90BBABA $270BBKNG $118B
- Polaris Capital Management First Quarter 2026 Global Equity Composite Commentary Polaris Global Equity Composite exited Methanex, Sally Beauty, UnitedHealth and Capgemini as valuations or investment theses changed, while initiating Eastman Chemical and Ryanair. The portfolio favors global diversification and selective buying amid oil-driven volatility, with Ryanair's cost structure and Eastman's restructuring viewed as near-term catalysts. First Quarter 2026 ALSN $9.6BARW $12BCAPMF $21B
- Vision Capital Fund Vision Capital Fund - 2025 Annual Letter Vision Capital Fund added Sea Limited after its selloff, backing Shopee’s regional e-commerce scale, Monee’s lending data and recovering Garena cash generation. It added to nine existing holdings during the drawdown, avoided memory makers, Oracle and neoclouds over cyclicality, concentration and capital-intensity concerns, and capped direct AI exposure at TSMC and NVIDIA. 2025 SE $57BCRWV $46BMU $1.2T
- Polaris Capital Management Fourth Quarter 2025 Global Equity Composite Commentary Polaris Global Equity Composite sold Vipshop, Carlyle, Magna, Novartis and Sony Financial after targets were reached, then deployed proceeds into Alibaba, AIA and Ping An to capture Asian e-commerce, cloud and insurance demand. The portfolio favored cash-generative picks-and-shovels businesses and diversification beyond the U.S., citing opportunities in Asian AI supply chains, European industry and financials. FOURTH QUARTER 2025 BABA $270BLNTH $6.5BSKHY $943B
- Oldfield Partners Overstone World All Cap Equity Fund 3Q 2025 Commentary Overstone World All Cap Equity Fund trimmed Barrick after the miner’s management upheaval and unusually wide production margins. It added Ayala Corp. as a double-discount holding company and retained Samsung and SK Inc for lower-valuation AI exposure, while favouring conventional businesses trading below net asset value. 3Q 2025 AYYLF $5.3BB $64BSSNLF $1688T
- Polaris Capital Management Third Quarter 2025 Global Equity Composite Commentary Polaris Global Equity Composite added HD Hyundai Electric, DHL Group and Lantheus Holdings while exiting Canadian Tire, Tecnoglass, JDE Peet’s, Mondi, NOV, Science Applications International and Crocs. The strategy favors attractively priced financials, defensives, industrials and utilities amid concentrated AI-led equity markets, while retaining exposure to Samsung and SK Hynix. QIII 2025 SSNLF $1688TUTHR $24B
- Asset Value Investors Ltd AVI Global Special Situations Fund July 2026 AGSS reduced GABIA after Macquarie's tender offer lifted the shares, while retaining a stake because it considers the proposal inadequate. The fund retained Vivendi despite UMG's weak results, added selectively to Korean holdings after the AI and memory sell-off, and said AVI's Pacific partnership will preserve its investment autonomy. July 2026 079940 $390MUNVGY $26BVVVNF $1.6B
- PenderFund Capital Management Ltd. Pender Global Small/Mid Cap Equity Fund Manager’s Commentary Pender Global Small/Mid Cap Equity Fund maintained a defensive stance amid an AI-related rotation out of semiconductor and high-beta technology shares, citing rising debt-funded hyperscaler capex and concerns over investment returns. The fund initiated Auto Trader, added Copart on weakness, sold Kneat.com after its Thoma Bravo takeout, and defended its Generac thesis while Kinaxis raised guidance. July 2026 AUTO $4.9BGNRC $13BKXS $3.4B
- PenderFund Capital Management Ltd. Pender Alternative Multi-Strategy Growth Fund Manager’s Commentary Pender Alternative Multi-Strategy Growth Fund maintained a defensive allocation through volatile energy, trade and leverage-driven markets, with cash and equivalents at approximately 16% of the small-cap portfolio. The strategy adjusted underlying-fund weightings, added several hyperscalers to its select-equity sleeve and retained merger-arbitrage exposure while monitoring correlations and liquidity opportunities. July 2026 —
- Asset Value Investors Ltd AVI Global Trust AVI Global Trust trimmed News Corp after its recovery from the AI-driven sell-off and maintained Vivendi despite Universal Music Group’s weak results, citing deep underlying value but limited confidence in management’s margin discipline. The trust added selectively to Korean holdings after the AI and memory sell-off, while AVI agreed to join Pacific Asset Management without changing its investment teams or process. July 2026 VVVNF $1.6BUNVGY $26B
- Oldfield Partners Overstone World All Cap Equity Fund 2Q 2026 Commentary Overstone World All Cap Equity Fund sold Samsung and SK Inc. too early, while retaining Stellantis and Barratt Redrow on the view that restructurings, low valuations and durable industry economics are underappreciated. The fund views easyJet’s recommended takeover price as failing to reflect its fleet, landing slots and profit potential. 2Q 2026 BTRW $5.8BESYJY $5.2BSTLA $13B
- Palm Valley Capital Groundhog Day Palm Valley retained a large Treasury-bill allocation and avoided AI beneficiaries, arguing that speculative valuations, peak margins, and costly AI investment leave little room for normal competition and cyclicality. The fund added Clorox, Molson Coors, and Vontier, sold Heartland Express at its valuation, and maintained positions in discounted businesses including Amdocs, LKQ, Kelly Services, and TrueBlue. Second Quarter 2026 CLX $9.9BDOX $6.1BHTLD $868M
- Fairtree Asset Management Fairtree Global Equity Fund Q2 2026 commentary Fairtree Global Equity Fund added to Booking Holdings, Meta and TSMC, opened positions in Shibaura Mechatronics, Charles Schwab, Robinhood, LVMH, Sasol and Gold Fields, and exited several lower-conviction holdings. The portfolio favours technology over cyclical shares while retaining valuation discipline amid a momentum-led semiconductor rally. Q2 2026 —
- Tweedy, Browne Tweedy, Browne Funds Commentary, Q2 2026 Tweedy, Browne Funds added Capgemini and bioMérieux at discounts to conservative intrinsic-value estimates, while trimming chemicals holdings and positions approaching estimated value. The managers warn that AI-led capital spending, elevated technology valuations and speculative market behavior resemble conditions preceding the 2000 technology bubble. Q2 2026 —
- Polaris Capital Management First Quarter 2026 International Equity Composite Commentary Polaris International Equity Composite sold Methanex after its valuation target and exited Capgemini as outsourcing risks weakened its thesis, while adding Ryanair after an oil-led selloff. It favored fertilizer, energy and financial holdings amid Hormuz-driven disruptions, and argues Ryanair's costs and fuel hedges support share gains. The strategy sees international diversification gaining appeal as U.S. concentration risks rise. First Quarter 2026 MEOH $4.8BRYAAY $29B
- Polaris Capital Management Fourth Quarter 2025 International Equity Composite Commentary Polaris International Equity Composite credited memory-chip suppliers SK Hynix and Samsung Electronics, power-equipment maker HD Hyundai Electric and several industrial holdings for the quarter. It sold Vipshop, Magna International, Novartis and Sony Financial after target valuations were reached, then deployed proceeds into Alibaba, AIA Group and Ping An Insurance. FOURTH QUARTER 2025 BABA $270B
