Bell

Dec 2024 → Apr 2026 · Publishes monthly · 4 funds

Our archive holds 26 letters from Bell, behind 34 investment theses. Every quote below is copied verbatim from the letter it came from.

Bell’s own letters page

Letters

Companies

Moves

Theses

Theses · 34

AstraZeneca PLC
April 2026
AstraZeneca is a global biopharmaceutical company with a diversified pipeline, strong execution, and attractive long-term compounder characteristics.
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AstraZeneca PLC
April 2026
AstraZeneca is a diversified biopharmaceutical compounder with a high-quality pipeline, durable growth, and attractive valuation.
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ASML Holding N.V.
April 2026
ASML is a semiconductor equipment leader with strong operating results, earnings upgrades, and a robust order book.
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HCA Healthcare, Inc.
April 2026
HCA Healthcare is a leading US hospital operator with scale advantages, strong free cash flow, and long-term earnings growth.
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Pan Pacific International Holdings Corporation
April 2026
Pan Pacific International is a Japanese discount retailer with durable earnings compounding, tourism tailwinds and an attractive valuation.
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Otis Worldwide Corporation
April 2026
Otis Worldwide is a global elevator leader with a highly recurring service business, improving growth prospects and attractive valuation.
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Hermès International
March 2026
Hermès is a luxury goods company with a strong brand, disciplined supply model, and durable compounding growth potential.
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TE Connectivity
March 2026
TE Connectivity is an electrical connectors leader with market share gains, double-digit growth tailwinds, and strong cash generation.
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MercadoLibre
March 2026
MercadoLibre is a Latin American e-commerce and fintech platform with founder-led management, scale, and strong long-term earnings growth.
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TE Connectivity Ltd.
March 2026
TE Connectivity is a global connector leader with AI and electrification tailwinds, strong free cash flow, and margin expansion potential.
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Nomura Research Institute, Ltd.
March 2026
Nomura Research Institute is a Japanese IT solutions and consulting provider with AI-driven growth, cost savings, and restructuring upside.
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Deutsche Boerse
March 2026
Deutsche Boerse is a market infrastructure company with recurring revenues, structural growth drivers, and valuation upside.
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Letter archive · 26

2026

2025

2024

Funds · 4

Bell Global Equities Fund12
Bell Global Emerging Companies Fund11
Bell Global High Conviction Fund2
Bell Global Sustainable Fund1

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