Lunate Capital Ltd

This performance suggests that the portfolio's substantial appreciation was likely driven by a combination of market performance in existing core positions and the deployment of new capital, rather than broad diversification. The lack of sold positions or reductions indicates that the firm is in an accumulation phase or is steadfastly committed to its existing equity selections. The strategy appears to prioritize deep research into a select few opportunities rather than broad market exposure, as evidenced by the lack of positions in traditional index trackers or diversified ETFs.

Key Holdings