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Schafer Cullen

Jun 2025 → Dec 2025 · Publishes quarterly · 12 funds

Our archive holds 27 letters from Schafer Cullen, behind 28 investment theses and positions in 93 companies. Every quote below is copied verbatim from the letter it came from.

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27
Letters
93
Companies
28
Moves
28
Theses

11 strategies

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

Also filed under Schafer Cullen International High Dividend.

What they bought and sold · 28 moves

  • New positionQualcomm Inc.
    December 2025
    “Purchases Qualcomm Inc. (United States, Information Technology) – Qualcomm is a leading semiconductor platform company with core strengths in wireless connectivity, edge computing, and low-power system design.”
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  • New positionNAC Kazatomprom JSC
    December 2025
    “During the quarter, we established a position in NAC Kazatomprom JSC (Kazakhstan, Materials), the world’s largest uranium miner and the leading low-cost producer, amid the reinvigoration of nuclear energy projects globally to meet rising demand from electrification, data centers, and artificial intelligence, which has resulted in strong volume growth and a mounting uranium spot price.”
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  • AddedSabesp
    December 2025
    “the strategy added to the largest water utility in Brazil, as the privatization of water utilities in Brazil should continue to drive stockholder returns in our view.”
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  • ExitedJPMorgan Chase
    December 2025
    “JPMorgan Chase (JPM) was sold in the quarter.”
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  • TrimmedVeolia
    December 2025
    “The position in French multi-utility Veolia was trimmed as we saw better investment opportunities to allocate capital.”
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  • TrimmedLoanDepot
    December 2025
    “LoanDepot (-32.6%) weighed most heavily on results as elevated mortgage rates constrained refinancing activity and dampened investor sentiment.”
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  • TrimmedBroadcom
    December 2025
    “The positions in Exxon Mobil (XOM), Broadcom (AVGO), RTX Corp (RTX) and Johnson Controls (JCI) were reduced in the quarter.”
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  • ExitedNorfolk Southern
    December 2025
    “Norfolk Southern (NSC) was sold in the quarter.”
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  • ExitedHaier Smart Home
    December 2025
    “During the quarter, we exited our position in Haier amid rising uncertainty around demand normalization, margin pressures, and external policy headwinds.”
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  • AddedQualcomm
    December 2025
    “Shares of Qualcomm (QCOM) were purchased in the strategy during the quarter.”
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  • AddedJohn B. Sanfilippo & Son
    December 2025
    “Purchases John B. Sanfilippo & Son (JBSS) is a leading processor and distributor of tree nuts and peanuts, supplying branded, private-label, and ingredient products across retail, foodservice, and industrial end markets.”
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  • TrimmedRTX Corp
    December 2025
    “The positions in Exxon Mobil (XOM), Broadcom (AVGO), RTX Corp (RTX) and Johnson Controls (JCI) were reduced in the quarter.”
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  • New positionBridgestone Corporation
    December 2025
    “Purchases Bridgestone Corporation (Bridgestone) (Japan, Consumer Discretionary) – Bridgestone is one of the world’s largest premium tire manufacturers with leading positions across passenger, truck/bus and specialty applications.”
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  • ExitedPernod Ricard
    December 2025
    “We exited our position in Pernod Ricard as sell-out trends in its two largest markets, the US and China, remain weak and continue to pressure growth.”
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  • TrimmedAmerican Water Works
    December 2025
    “American Water Works and Essential Utilities – Both names were reduced after their announced merger, which left us underwhelmed.”
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  • TrimmedJohnson Controls
    December 2025
    “The positions in Exxon Mobil (XOM), Broadcom (AVGO), RTX Corp (RTX) and Johnson Controls (JCI) were reduced in the quarter.”
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  • TrimmedExxon Mobil
    December 2025
    “The positions in Exxon Mobil (XOM), Broadcom (AVGO), RTX Corp (RTX) and Johnson Controls (JCI) were reduced in the quarter.”
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  • ExitedVeolia Environnement
    December 2025
    “With expectations moderating and risk/reward less attractive, we exited the position and reallocated capital to higher-conviction names.”
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  • TrimmedEssential Utilities
    December 2025
    “American Water Works and Essential Utilities – Both names were reduced after their announced merger, which left us underwhelmed.”
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  • New positionPOOL Corp
    December 2025
    “The strategy initiated a position in this world’s largest distributor of pool equipment, as explained further in this letter.”
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  • AddedUnitedHealth Group
    December 2025
    “Shares of UnitedHealth Group (UNH) were purchased in the strategy during the quarter.”
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  • AddedUnion Pacific
    December 2025
    “The stock trades at 18x forward earnings and offers a 2.4% dividend yield.”
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  • AddedVeralto
    December 2025
    “The strategy added to water test, analytics and treatment leader Veralto as the stock showed potential upside to our risk adjusted returns following underperformance, despite continued strong operating performance.”
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  • ExitedKenvue
    December 2025
    “Kenvue (KVUE) was sold from the strategy during the quarter.”
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  • ExitedSvenska Handelsbanken
    September 2025
    “We sold our position in Svenska Handelsbanken, the largest bank by assets in Sweden, with a strong presence in other Nordic markets.”
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  • New positionVinci
    September 2025
    “Purchases: Vinci (France, Industrials) – Vinci is a major global operator of concessions and a provider of energy and construction services primarily in Europe.”
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  • ExitedUPM-Kymmene Oyj
    September 2025
    “We exited our position in UPM-Kymmene during the quarter following underperformance driven by an uncertain product demand outlook and weaker-than- expected profitability across various segments.”
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  • New positionNational Grid
    June 2025
    “Purchases National Grid (United Kingdom, Utilities) – National Grid is a regulated operator of electric transmission and distribution networks in Great Britain and the United States while also operating natural gas distribution in New York and Massachusetts.”
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Companies held · 93

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

Theses · 28

  • Bridgestone Corporation
    December 2025

    Bridgestone is a leading premium tire maker with durable advantages, structural mix tailwinds, operational improvements, aligned ownership, and attractive valuation and yield.

    Read the full thesis
  • Companhia de Saneamento Básico do Estado de São Paulo - SABESP
    December 2025

    Sabesp is Brazil’s largest water utility benefiting from post-privatization efficiency gains, accelerated capex-led growth, and potential valuation re-rating amid ongoing privatization tailwinds.

    Read the full thesis
  • Novo Nordisk A/S
    December 2025

    Novo Nordisk is a metabolic health leader with durable GLP-1 advantages, expanding access and an oral launch supported by manufacturing scale and long-term platform growth at an attractive valuation and yield.

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  • Qualcomm Inc.
    December 2025

    Qualcomm is a leading semiconductor platform with dominant smartphone share and multiple AI-driven growth vectors across PCs, automotive, IoT, and inference at an attractive valuation and yield.

    Read the full thesis
  • Pool Corporation
    December 2025

    Pool Corporation is the leading U.S. pool equipment distributor with resilient repair/replacement demand, stabilizing earnings, and an attractive trough valuation with potential strategic interest.

    Read the full thesis
  • Union Pacific Corporation
    December 2025

    Union Pacific is a premier western U.S. railroad with network advantages, operational improvement, and potential merger synergies that support earnings growth and income.

    Read the full thesis
  • Weichai Power Co., Ltd.
    December 2025

    Weichai Power Co., Ltd. is set to benefit from AI data center generator growth, leading engine/HDT positions, LNG adoption, and logistics automation via Kion.

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  • John B. Sanfilippo & Son, Inc.
    December 2025

    John B. Sanfilippo & Son is a leading nut processor with integrated operations, resilient demand tailwinds, margin recovery potential, disciplined capital allocation, and attractive valuation.

    Read the full thesis
  • UnitedHealth Group Incorporated
    December 2025

    UnitedHealth Group is the largest US managed care company, taking margin and portfolio actions that support improved profitability and more consistent earnings growth at a reasonable valuation.

    Read the full thesis
  • Adobe
    September 2025

    Adobe is a competitive leader in digital content creation and customer experience software, poised for long-term growth through innovative AI integrations and attractive valuations relative to peers.

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  • Avient Corp
    September 2025

    Avient Corp is a global provider of specialized polymer materials and additives focused on high-margin markets like healthcare and defense, with strong execution and a strategic shift towards sustainable innovation and operational excellence, positioning it for growth and value outperformance.

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  • Becton Dickinson
    September 2025

    Becton Dickinson is a global medical technology provider poised for consistent mid-single-digit growth, with upcoming product launches and a strategic business separation expected to enhance its market position and profitability.

    Read the full thesis

Letter archive · 27

2025

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