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Aylett &

Sep 2026 · 5 funds

Our archive holds 5 letters from Aylett &, behind 5 investment theses and positions in 27 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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5
Letters
27
Companies
10
Moves
5
Theses

5 strategies

Aylett & publishes a letter per strategy. Each one has its own page with what it holds, what it bought and what it wrote.

Returns as reported in each strategy’s latest letter, extracted automatically and not verified by us; one share class, in its own currency. Not investment advice. Past performance does not predict future returns.

What they bought and sold · 10 moves

  • ExitedBHP Group
    September 2026
    “We used the strength to sell the balance of the position.”
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  • New positionAVI
    September 2026
    “We also started building a position in AVI.”
    Read the letter
  • AddedFlutter Entertainment
    September 2026
    “We have added new positions in the form of Adidas, Flutter, and Amadeus, to name a few.”
    Read the letter
  • AddedAdidas
    September 2026
    “We have added new positions in the form of Adidas, Flutter, and Amadeus, to name a few.”
    Read the letter
  • New positionProsus
    September 2026
    “Prosus was the one significant addition to the fund during the quarter.”
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  • ExitedPSG Financial Services
    September 2026
    “The fund sold its positions in Capitec and PSG Financial Services, both of which have performed well since we received them as part of the Curro buyout and delisting.”
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  • AddedAmadeus IT Group
    September 2026
    “We have added new positions in the form of Adidas, Flutter, and Amadeus, to name a few.”
    Read the letter
  • New positionTencent
    September 2026
    “Tencent was the one significant addition to the fund during the quarter.”
    Read the letter
  • ExitedCapitec
    September 2026
    “The fund sold its positions in Capitec and PSG Financial Services, both of which have performed well since we received them as part of the Curro buyout and delisting.”
    Read the letter
  • AddedNedbank Group
    September 2026
    “which allowed us to meaningfully add to the position.”
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Companies held · 27

Every company Aylett & has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 5

  • Mondi
    September 2026

    Mondi is a low-cost European producer of virgin containerboard and kraft paper that still generates cash at the bottom of a brutal packaging downcycle while higher-cost rivals lose money, and management has cut capital spending to roughly depreciation.

    Read the full thesis
  • AECI Limited
    September 2026

    AECI's new CEO has a sensible plan to grow the profitable mining explosives unit, run chemicals for cash and fix Schirm, and the share price fall looks temporary.

    Read the full thesis
  • Prosus N.V.
    September 2026

    Prosus offers exposure to Tencent's founder-led digital ecosystem at a discount to the value of its stake, with the core business growing and early AI results promising.

    Read the full thesis
  • Nedbank Group
    September 2026

    Nedbank beat low expectations on income and bad-debt charges, and a 10% dividend yield at the trough let the fund add meaningfully to the position.

    Read the full thesis
  • Tencent
    September 2026

    Tencent is the toll gate of digital life in China, with 1.4 billion people using Weixin daily and games, advertising, payments and cloud sitting behind it, and its founder-led model plus an investment portfolio worth about a quarter of the share price make the languishing stock attractive while the core business grows.

    Read the full thesis

Letter archive · 5

2026

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