Letters by company
Unilever PLC
4 letters discussing UL. Everything written about it on this site is on its ticker page.
- Guinness Global Investors Guinness Global Equity Income Investment Commentary – September 2026 Guinness Global Equity Income sold Aflac, citing a saturated Japanese market, buyback-supported earnings and a richer valuation, and added Nvidia on AI-infrastructure demand, CUDA-driven switching costs and dividend-growth capacity. It argues Treasury long-bond buybacks could foster fiscal dominance, while Deutsche Boerse and Texas Instruments retain structural growth cases. August 2026 AFL $57BCRM $183BCSCO $465B
- Latitude Investment Management Latitude Global Fund Q126 Commentary Kroger was added and Unilever sold, with Latitude arguing that the grocer offers inflation protection, defensive earnings growth and scope for margin expansion through advertising, private label and fuel retailing. The portfolio favours defensives over richly valued AI, commodity and defence cyclicals as geopolitical fragmentation increases uncertainty. Q126 KR $36B
- Troy Asset Management Investment Report No.83 Troy Multi-Asset Strategy retained modest equity exposure and avoided semiconductor stocks despite the AI-led market rally, favouring Microsoft and Alphabet for their cloud infrastructure and distribution. It kept significant inflation-linked bond and gold exposure while warning that concentrated US equity leadership, elevated valuations and higher bond yields leave little room for disappointment. 2024 GOOGL $4.2TMSFT $3.9T
- Troy Asset Management Investment Report No. 75 Trojan Fund retained a low equity exposure after reducing risk assets during the 2021 bubble, while reassessing the concentration of prior winners such as Microsoft. The portfolio favors US index-linked bonds and gold protection, arguing that labour shortages and higher inflation volatility will keep the cost of capital above its recent regime. 2022 SPXSF $5.1B
