IVA International Fund Buys Anheuser-Busch InBev SA/NV, Publicis Groupe SA, Aena SME SA, Sells Samsung Electronics Co, Nestle SA, Z Holdings Corp

• New Purchases: ABI, AENA, AM, MF, ANDINA-B, RA,
• Added Positions: PUB, SW, BBL-R, 4527, EMAARMALLS, 4544, SINA, BMW, GRUMAB, AIR, CFR, BOL, VCT, INCH, SLB, UNA,
• Reduced Positions: NESN, BVI, 4503, EB5, CRTO, AIBG, 005380, 6406, 2678, NCM, H02, PINFRA, UBSG, GMEXICOB, 00100, J37, BOKA, 086450, 9436, 035250, IPS, 8008, ODET, 2461, 023590, 7279, MTO, BIDU, 033780, 016580, 4008, 7483, 9783, 00045, 4715, UEPS, WPP, 7979, LOMA, 7749, 9715, 039490, Q, 9842, 016800, 8167, 6151, NEM, 012330, SFPI, KSB3, FRAGUAB, WPP, FENG, BBKP, 01045, THCOM, ABX, 6678, CHDRAUIB, 500490, 02008, PINFRAL, 9760,
• Sold Out: 005930, 4689, NWSA, ATE, 01700, ARCO, 532218, 8397, ERJ, 4342, 4282,

For the details of IVA International Fund's stock buys and sells, go to https://www.gurufocus.com/guru/iva+international+fund/current-portfolio/portfolio

1. Astellas Pharma Inc (4503) - 4,116,900 shares, 5.03% of the total portfolio. Shares reduced by 15.72%
2. Bayerische Motoren Werke AG (BMW) - 1,058,250 shares, 4.38% of the total portfolio. Shares added by 4.84%
3. Cie Financiere Richemont SA (CFR) - 1,003,790 shares, 4.34% of the total portfolio. Shares added by 4.09%
4. Sodexo (SW) - 682,556 shares, 3.65% of the total portfolio. Shares added by 34.36%
5. Miraca Holdings Inc (4544) - 2,136,600 shares, 3.56% of the total portfolio. Shares added by 8.86%

IVA International Fund initiated holding in Anheuser-Busch InBev SA/NV. The purchase prices were between $30.97 and $74.49, with an estimated average price of $59.69. The stock is now traded at around $41.91. The impact to a portfolio due to this purchase was 1.98%. The holding were 566,243 shares as of .

IVA International Fund initiated holding in Aena SME SA. The purchase prices were between $91.9 and $174.5, with an estimated average price of $150.21. The stock is now traded at around $128.20. The impact to a portfolio due to this purchase was 1.44%. The holding were 166,964 shares as of .

IVA International Fund initiated holding in Dassault Aviation SA. The purchase prices were between $632 and $1187, with an estimated average price of $991.72. The stock is now traded at around $767.00. The impact to a portfolio due to this purchase was 1.22%. The holding were 18,811 shares as of .

IVA International Fund initiated holding in Wendel SE. The purchase prices were between $62.25 and $127, with an estimated average price of $108.57. The stock is now traded at around $82.60. The impact to a portfolio due to this purchase was 0.92%. The holding were 146,196 shares as of .

IVA International Fund initiated holding in Embotelladora Andina SA. The purchase prices were between $1580 and $2247, with an estimated average price of $2007.13. The stock is now traded at around $1921.00. The impact to a portfolio due to this purchase was 0.41%. The holding were 2,354,581 shares as of .

IVA International Fund initiated holding in Regional SA de Cv. The purchase prices were between $52.52 and $119.23, with an estimated average price of $100.88. The stock is now traded at around $61.58. The impact to a portfolio due to this purchase was 0.09%. The holding were 447,300 shares as of .

IVA International Fund added to a holding in Publicis Groupe SA by 266.64%. The purchase prices were between $21.84 and $43.4, with an estimated average price of $36.01. The stock is now traded at around $25.52. The impact to a portfolio due to this purchase was 1.53%. The holding were 926,888 shares as of .

IVA International Fund added to a holding in Sodexo by 34.36%. The purchase prices were between $50.42 and $107.25, with an estimated average price of $87.72. The stock is now traded at around $60.54. The impact to a portfolio due to this purchase was 0.93%. The holding were 682,556 shares as of .

IVA International Fund added to a holding in Bangkok Bank PCL by 104.40%. The purchase prices were between $89.23 and $162.41, with an estimated average price of $134.52. The stock is now traded at around $109.67. The impact to a portfolio due to this purchase was 0.89%. The holding were 7,193,700 shares as of .

IVA International Fund added to a holding in Rohto Pharmaceutical Co Ltd by 23.57%. The purchase prices were between $2643 and $3475, with an estimated average price of $3165.28. The stock is now traded at around $3315.00. The impact to a portfolio due to this purchase was 0.58%. The holding were 1,404,000 shares as of .

IVA International Fund added to a holding in Emaar Malls PJSC by 102.78%. The purchase prices were between $0.98 and $13.55, with an estimated average price of $1.77. The stock is now traded at around $1.32. The impact to a portfolio due to this purchase was 0.34%. The holding were 30,226,042 shares as of .

IVA International Fund added to a holding in SINA Corp by 38.01%. The purchase prices were between $27.83 and $44.52, with an estimated average price of $36.99. The stock is now traded at around $31.93. The impact to a portfolio due to this purchase was 0.27%. The holding were 387,675 shares as of .

IVA International Fund sold out a holding in Samsung Electronics Co Ltd. The sale prices were between $42500 and $62400, with an estimated average price of $56041.5.

IVA International Fund sold out a holding in Z Holdings Corp. The sale prices were between $291 and $481, with an estimated average price of $413.63.

IVA International Fund sold out a holding in News Corp. The sale prices were between $8.23 and $14.91, with an estimated average price of $12.7.

IVA International Fund sold out a holding in Alten. The sale prices were between $56.95 and $117.7, with an estimated average price of $99.04.

IVA International Fund sold out a holding in Springland International Holdings Ltd. The sale prices were between $2.2 and $2.28, with an estimated average price of $2.25.

IVA International Fund sold out a holding in Arcos Dorados Holdings Inc. The sale prices were between $3.21 and $8.16, with an estimated average price of $6.59.

IVA International Fund reduced to a holding in Nestle SA by 64.01%. The sale prices were between $90 and $109.46, with an estimated average price of $103.39. The stock is now traded at around $103.86. The impact to a portfolio due to this sale was -2.08%. IVA International Fund still held 220,808 shares as of .

IVA International Fund reduced to a holding in First Resources Ltd by 21.25%. The sale prices were between $1.04 and $1.93, with an estimated average price of $1.6. The stock is now traded at around $1.47. The impact to a portfolio due to this sale was -0.49%. IVA International Fund still held 26,477,500 shares as of .

IVA International Fund reduced to a holding in Criteo SA by 50.16%. The sale prices were between $6.38 and $18.17, with an estimated average price of $12.85. The stock is now traded at around $10.43. The impact to a portfolio due to this sale was -0.41%. IVA International Fund still held 473,958 shares as of .

IVA International Fund reduced to a holding in Fujitech Co Ltd by 39.61%. The sale prices were between $1219 and $1848, with an estimated average price of $1611.15. The stock is now traded at around $1637.00. The impact to a portfolio due to this sale was -0.36%. IVA International Fund still held 705,100 shares as of .

IVA International Fund reduced to a holding in ASKUL Corp by 77.3%. The sale prices were between $2230 and $3590, with an estimated average price of $3205.92. The stock is now traded at around $3580.00. The impact to a portfolio due to this sale was -0.35%. IVA International Fund still held 69,300 shares as of .

IVA International Fund reduced to a holding in Newcrest Mining Ltd by 74.06%. The sale prices were between $21.71 and $32.51, with an estimated average price of $28.5. The stock is now traded at around $31.42. The impact to a portfolio due to this sale was -0.34%. IVA International Fund still held 115,873 shares as of .