Schafer Cullen
Schafer Cullen International High Dividend ADR
International Income
Jun 2025 → Dec 2025
Our archive holds 2 letters from this strategy, behind 2 investment theses and positions in 10 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year — follow all of Schafer Cullen for every strategy.
What it bought and sold
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.
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.
- ExitedVeolia EnvironnementDec 2025
With expectations moderating and risk/reward less attractive, we exited the position and reallocated capital to higher-conviction names.
Also held
Its investment theses
- Bridgestone CorporationDec 2025Bridgestone is a leading premium tire maker with durable advantages, structural mix tailwinds, operational improvements, aligned ownership, and attractive valuation and yield.
- Novo Nordisk A/SDec 2025Novo 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.