Watches Of Switzerland Group PLC

• NW Night Watch Investment Management Q2 2026 Update ↗ Night Watch added FUTU aggressively, initiated Booking.com and Adyen, and trimmed exposure to cyclical memory beneficiaries as AI-related valuations rose. The firm argues that Dutch employment-tax rules limit stock-based compensation at internationally oriented companies, while Watches of Switzerland is resuming its Rolex-led consolidation playbook after US tariff relief. Q2 2026 WOSG $2.1BADYEY $31BBKNG $118B +1
• Palm Harbour Capital Letter 2026 Q2 | 687 KB ↗ Palm Harbour Capital sold BW Energy and M Dias Branco, added a Mexican cement company and smaller Asian positions, and plans to trade Norma’s buyback rights. It argues that leveraged products and passive flows are distorting Asian markets, while Louis Hachette and Lagardère offer restructuring and ownership-simplification catalysts. second quarter 2026 ALHG $1.9B082920 $961M0NFS +8
• Palm Harbour Capital Letter 2025 Q4 | 244 KB ↗ Palm Harbour Capital exited Playtech, RHI Magnesita, Aichi, Aberdeen European Logistics Income and Kri-Kri after governance concerns, cyclical risks, liquidation and fuller valuations changed the risk-reward balance. The fund added Converge ICT, arguing that Philippine fiber-network monetization, easing capital expenditure and broadband penetration growth can drive free cash flow. fourth quarter 2025 111770 $2.3B284740 $408MAICXF $574M +7

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