Níže naleznete čtvrtletní komentáře/dopisy akcionářům vybraných fondů. V posledním sloupci tabulky naleznete odkaz na strukturu jejich portfolia.
| Fond/Investiční firma | Portfolio manažer | Období | Portfolio* |
|---|---|---|---|
| Fundsmith | Terry Smith | 2Q/2023 | ZDE |
| Vltava Fund | Daniel Gladiš | 3Q/2023 | ZDE |
| First Eagle Investment Management Global Fund (SGENX) Overseas Fund (SGOVX) U.S. Value Fund (FEVAX) | Matthew McLennan | 3Q/2023 3Q/2023 3Q/2023 | ZDE ZDE ZDE ZDE |
| GMO Benchmark-free Allocation Fund (GBMFX) Global Asset Allocation Fund (GMWAX) Emerging Markets Fund (GMOEX) U.S. Equity Fund (GMUEX) U.S. Small-Cap Value Fund (GCAVX) International Equity Fund (GMOIX) Quality Fund (GQETX) Small-Cap Quality Fund (GSBGX) | Jeremy Grantham Ben inker | 3Q/2023 | ZDE ZDE ZDE ZDE ZDE ZDE ZDE ZDE |
| Miller Value Partners Miller Opportunity Equity (LGOAX) Miller Income Strategy (LMCJX) Miller Deep Value Strategy | Bill Miller Samantha McLemore | 1Q/2023 3Q/2023 3Q/2023 | ZDE ZDE ZDE |
| Wedgewood Partners | David A. Rolfe | 3Q/2023 | ZDE |
| Greenlight Capital | David Einhorn | 3Q/2023 | ZDE |
| Akre Focus Fund (AKREX) | Chuck Akre | 3Q/2023 | ZDE |
| Third Avenue Management Value Fund (TAVFX) Small-Cap Value Fund (TASCX) | Matthew Fine | 3Q/2023 3Q/2023 | ZDE ZDE ZDE |
| Weitz Investment Value Fund (WVALX) Partners Value Fund (WPVLX) Partners Opportunity Fund (WPOIX) | Wally Weitz Brad Hinton | 3Q/2023 3Q/2023 3Q/2023 3Q/2023 | ZDE ZDE ZDE |
| Giverny Capital | Francois Rochon David M. Poppe | 2Q/2023 | ZDE |
| Horizon Kinetics Paradigm Fund (WWNPX) Kinetics Small-Cap Opportunities (KSCOX) Kintecis Global (WWWEX) Kinetics Market Opportunities (KMKNX) Energy and Remediation ETF (NVIR) Inflation Beneficiaries ETF (INFL) | Murray Stahl Steven Bregman John Meditz | 2Q/2023 | ZDE ZDE ZDE ZDE ZDE ZDE |
| Oakmark Funds Oakmark Select (OAKLX) Oakmark Global Select (OAKWX) Oakmark International Small-Cap (OAKEX) | William C. Nygren David G. Herro | 3Q/2023 3Q/2023 3Q/2023 3Q/2023 | ZDE ZDE ZDE |
| Pzena Investment Management JHancock Classic Value (PZFVX) Mic-Cap Value (PZVMX) Small-Cap Value (PZVSX) International Value (PZVNX) International Small-Cap Value (PZVIX) Emerging Markets Value (PZVEX) | Richard Pzena | 3Q/2023 | ZDE ZDE ZDE ZDE ZDE ZDE |
| Sequoia Fund (SEQUX) | John Harris Arman Gokgol-Kline Trevor Magyar D. Chase Sheridan | 3Q/2023 | ZDE |
| Vulcan Value Partners Vulcan Value Partners (VVPLX) Vulcan Value Partners Small-Cap (VVPSX) | C.T. Fitzpatrick | 3Q/2023 2Q/2023 2Q/2023 | ZDE ZDE |
| FPA Crescent Fund (FPACX) FPA Global Equity ETF (FPAG) | Steven Romick Mark Landecker Brian A. Selmo | 3Q/2023 | ZDE ZDE |
| Pershing Square Holdings (NL:PSH) | William Albert Ackman | 1H/2023 | ZDE |
| Greenhaven Road Capital | Scott Miller | 2Q/2023 | ZDE |
| Third Point Capital | Daniel Loeb | 2Q/2023 | ZDE |
| Berkshire Hathaway | Warren Buffett Charlie Munger Todd Combs Ted Weschler | 4Q/2022 | ZDE |
| Semper Augustus | Christopher Bloomstran | 4Q/2022 | ZDE |
| Sound Shore Fund (SSHFX) | Harry Burn | 3Q/2023 | ZDE |
| Southeastern Asset Management Longleaf Partners Fund (LLPFX) | Mason Hawkins | 3Q/2023 | ZDE |
| Davis Investment Advisors Davis NY Venture (NYVTX) International Fund (DILAX) Global Fund (DGFAX) Opportunity Fund (DGOCX) Financial Fund (DFFCX) Select U.S. Equity ETF (DUSA) Select International ETF (DINT) Select Worldwide ETF (DWLD) Select Financial ETF (DFNL) | Chris Davis Danton Goei | 3Q/2023 4Q/2022 4Q/2022 4Q/2022 4Q/2022 | ZDE ZDE ZDE ZDE ZDE ZDE ZDE ZDE ZDE |
| Markel | Thomas Gayner | 4Q/2022 | ZDE |
| Ariel Investments Ariel Fund (ARGFX) Focus Fund (ARFFX) Appreciation Fund (CAAPX) International Fund (AINTX) Global Fund (AGLOX) | John Rogers Charles K. Bobrinskoy | 3Q/2023 3Q/2022 3Q/2023 3Q/2023 3Q/2023 | ZDE ZDE ZDE ZDE ZDE |
| Tweedy, Browne Company Value Fund (TWEBX) International Value Fund (TBGVX) Worldwide High Dividend Yield Fund (TBHDX) | Jay Hill Thomas H. Shrager John D. Spears Robert Q. Wyckoff | 2Q/2023 | ZDE ZDE ZDE |
| Heartland Advisors Mid-Cap Value (HRMDX) Value Plus (HRVIX) Value (HRTVX) | Will Nasgovitz Bill Nasgovitz Andrew J. Fleming Bradford A. Evans Troy McGlone Colin McWey | 3Q/2023 | ZDE ZDE ZDE |
| Yacktman Asset Management Fund (YACKX) Fosused Fund (YAFFX) Global Fund (YFSNX) Special Opportunities Fund (YASSX) | Donald Yacktman Stephen Yacktman | 4Q/2022 4Q/2022 4Q/2022 | ZDE ZDE ZDE ZDE |
Pozn. * Nemusí být zobrazena vždy celá struktura portfolia fondu (např. short pozice, pozice v akciích mimo USA, pozice v jiných třídách aktiv, atd.)