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 13, 2026
RIT Capital Partners plc delivered a net return of -0.4% net of fees for the month of September 2026, bringing year-to-date net performance to +10.7% net of fees. Net asset value stood at 3,209p per share at month-end, representing a 20.8% discount to the prevailing share price of 2,540p. Portfolio asset allocation remained strategically dispersed across Quoted Equities (45% of NAV), Private Investments (36%), Uncorrelated Strategies (17%), and currency/liquidity reserves (2%), supported by conservative gearing of 4.1% and average year-to-date net quoted equity exposure of 46%. The broader macroeconomic climate in September was defined by rising sovereign bond yields and persistently elevated oil prices, producing mixed performance across global equity markets. Market gains remained highly concentrated within a narrow cohort of semiconductor and artificial intelligence infrastructure providers. Rather than chasing overextended public equity leadership, RIT maintained a disciplined macro framework, utilizing uncorrelated absolute return strategies and macro managers to cushion market headwinds, while currency translation from a strengthening US dollar provided a positive tailwind against sterling. Portfolio activity was highlighted by private holding Cognition, an agentic AI developer ranked among RIT's top five direct investments, which completed a major funding round at a valuation significantly above carrying NAV. Within quoted equities, weakness in emerging markets and quality holdings was partially mitigated by private positioning in SpaceX. Management actively pursued capital management, repurchasing £5m in RIT shares during the month to bring total year-to-date share buybacks and tender offers to £373m.
Deliver long-term compounding and wealth growth with less risk than equity markets through a diversified global portfolio structured across Quoted Equities, Private Investments, and Uncorrelated Strategies.
Management retains a balanced allocation across its strategic pillars, mindful of risks building in markets while remaining selective in leading secular themes such as agentic AI and alert to emerging value opportunities across global assets.
Neutral / Balanced
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 RIT Capital Partners plc 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.