The curated database of hedge funds that publish investor letters. Research by geography, strategy, and schools of thought.
| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Oct 29, 2026
In the third quarter of 2026, the Guinness Global Innovators Fund returned 2.8% net of fees in GBP (and was down 0.2% net of fees in USD), outpacing the benchmark MSCI World Index net return of 1.8% in GBP. Strategy outperformance was driven by an active overweight to Information Technology alongside solid stock selection within healthcare and financial exchanges. The fund maintained its fully invested, disciplined 30-stock, approximately equal-weight portfolio structure, carrying a modest 1.3% cash position with zero allocations to energy, utilities, real estate, materials, and consumer staples. The broader market backdrop was defined by persistent inflation, surging long-term sovereign bond yields, and aggressive central bank tightening, culminating in concurrent rate hikes by the Federal Reserve, Bank of Japan, and ECB. Concurrently, investor scrutiny broadened across the technology sector regarding hyperscaler capital spending and expanding off-balance-sheet residual value guarantees. While early-quarter momentum suffered significant de-rating, resilient corporate earnings growth and robust structural demand for artificial intelligence hardware and software underpinned equity resilience over the quarter. Portfolio returns were propelled by enterprise software holdings, led by Salesforce and Microsoft, which demonstrated accelerating recurring revenue and monetized deployment of generative AI workflows into customer applications. Conversely, semiconductor equipment holdings Lam Research, Applied Materials, and KLA experienced sharp drawdowns following elevated expectations and geopolitical noise around Chinese domestic lithography capacity, despite reporting record fundamentals. Management executed zero switches across the portfolio during the quarter, holding high conviction in its quality growth compounders.
Invest in an equally weighted, high-conviction portfolio of 30 quality growth companies with durable competitive advantages and high return on capital trading at reasonable valuations across structural innovation themes.
Management remains confident that high-quality growth companies supported by resilient balance sheets, superior return on capital, and structural innovation themes will navigate a complex macroeconomic and rising-yield environment.
Moderate Conviction Bullish
Market Conviction
Growth Outlook
Risk Appetite
Capital Deployment
Forward Guidance
Language Signal
Perceived Risk
Opportunity Density
Time Horizon
Top Conviction Themes
Key Catalysts
Every insight in this database connects to the original source. Read the actual thesis, see the actual concerns, and make your own call.
Buyside Digest has no business relationship, partnership, agency, sponsorship, endorsement, or affiliation with Guinness Global Innovators or any other manager whose content appears on the Service, except where expressly stated. We do not receive Manager Content directly from managers in most cases; content is collected from publicly available sources. Managers have not necessarily reviewed, approved, authorized, or endorsed our display of their content, our editorial commentary, our metadata extraction, or our classifications. Use of a manager’s name is for accurate attribution and identification purposes only, under principles of nominative fair use.
Buyside Digest does not independently verify the regulatory status, registrations, licensing, qualifications, credentials, or professional standing of managers whose content appears on the Service. We do not represent that managers are properly registered with applicable regulatory bodies, that their content complies with applicable securities laws, or that their performance representations are accurate. Inclusion of a manager in our database is based on the publicly available nature of their content, not on our verification of their regulatory status or content compliance. Users are responsible for conducting their own due diligence on any manager.
Performance data, returns, assets under management (“AUM”), and similar figures displayed on this page are sourced from publicly available manager communications (including investor letters), public filings, or other third-party sources. Buyside Digest does not independently verify performance figures, calculate returns, or audit manager-reported data. Such figures: May be selectively reported by the manager; May use non-standard calculation methodologies; May not reflect fees, expenses, taxes, or other costs; May be inconsistent across reporting periods; May be outdated. Past performance is not indicative of future results. Performance figures should not be relied upon for investment decisions without independent verification. Users should request audited performance data directly from the manager and conduct their own due diligence.