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AGT Partners

Dec 2025 → Sep 2026 · Publishes quarterly

Our archive holds 5 letters from AGT Partners, behind 11 investment theses and positions in 19 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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5
Letters
19
Companies
12
Moves
11
Theses

Performance

as of Sep 30, 2026 · net of fees · Class A

  • YTD
    +30.9%
Disclaimer

These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.

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What they bought and sold · 12 moves

  • New positionKPMG
    September 2026
    “we have officially appointed KPMG as the auditor of the fund and KPMG’s work for us will commence from this year onwards.”
    Read the letter
  • ExitedEisnerAmper
    September 2026
    “There were also no audit issues, accounting concerns, or disputes with EisnerAmper that prompted this change.”
    Read the letter
  • TrimmedSK Hynix
    September 2026
    “we have partially reduced our positions in SK Hynix and two leading regional semiconductor equipment suppliers to manage our overall exposure and risk.”
    Read the letter
  • AddedCNOOC
    June 2026
    “We continue to own several such great companies in our portfolio (DBS, TSMC, Tencent, CNOOC, Sheng Siong, KKR, Apollo, Microsoft etc.) and have selectively added onto them in the past quarter.”
    Read the letter
  • AddedSK Hynix
    June 2026
    “Throughout this roller-coaster ride in SK Hynix’s share price, we have not done much other than make modest opportunistic additions whenever prices corrected sharply.”
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  • AddedKKR & Co.
    June 2026
    “We continue to own several such great companies in our portfolio (DBS, TSMC, Tencent, CNOOC, Sheng Siong, KKR, Apollo, Microsoft etc.) and have selectively added onto them in the past quarter.”
    Read the letter
  • New positionAlphabet
    June 2026
    “We have also recently purchased a position in Alphabet.”
    Read the letter
  • AddedSheng Siong Group
    June 2026
    “We continue to own several such great companies in our portfolio (DBS, TSMC, Tencent, CNOOC, Sheng Siong, KKR, Apollo, Microsoft etc.) and have selectively added onto them in the past quarter.”
    Read the letter
  • AddedTencent Holdings
    June 2026
    “We continue to own several such great companies in our portfolio (DBS, TSMC, Tencent, CNOOC, Sheng Siong, KKR, Apollo, Microsoft etc.) and have selectively added onto them in the past quarter.”
    Read the letter
  • AddedApollo Global Management
    June 2026
    “We continue to own several such great companies in our portfolio (DBS, TSMC, Tencent, CNOOC, Sheng Siong, KKR, Apollo, Microsoft etc.) and have selectively added onto them in the past quarter.”
    Read the letter
  • AddedMicrosoft
    June 2026
    “We continue to own several such great companies in our portfolio (DBS, TSMC, Tencent, CNOOC, Sheng Siong, KKR, Apollo, Microsoft etc.) and have selectively added onto them in the past quarter.”
    Read the letter
  • AddedDBS Group
    June 2026
    “We continue to own several such great companies in our portfolio (DBS, TSMC, Tencent, CNOOC, Sheng Siong, KKR, Apollo, Microsoft etc.) and have selectively added onto them in the past quarter.”
    Read the letter

Companies held · 19

Every company AGT Partners has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 11

  • Tencent Holdings
    September 2026

    Tencent is held for its capable, prudent management, deepening economic moat, growing revenue and profits, and attractive low-teens earnings valuation despite share price weakness.

    Read the full thesis
  • SK Hynix
    June 2026

    SK Hynix is owned for its high barriers to entry, AI-driven HBM demand, supply constraints, customer contract stability, capital discipline and attractive valuation.

    Read the full thesis
  • Alphabet
    June 2026

    Alphabet can use AI to extend its moat across Search, YouTube, Cloud and subscriptions while still showing strong operating momentum.

    Read the full thesis
  • SK Hynix
    June 2026

    SK Hynix is owned for its high barriers to entry, AI-driven HBM demand, structurally constrained supply growth, better earnings stability, and attractive valuation.

    Read the full thesis
  • Alphabet
    June 2026

    Alphabet can turn AI into a moat-enhancing growth driver across Search, YouTube, Cloud, and subscriptions, supported by strong Cloud momentum and disciplined long-term investment.

    Read the full thesis
  • Sheng Siong
    March 2026

    Sheng Siong is a grocery retailer with strong margins and a widening moat from operational improvements.

    Read the full thesis
  • Microsoft
    March 2026

    Microsoft is a deeply entrenched software platform with an underappreciated bundling moat and attractive valuation.

    Read the full thesis
  • DBS Group Holdings Ltd
    December 2025

    DBS Group Holdings is building a durable, capital-light, fee-driven franchise with digital operating leverage, high ROE, and attractive shareholder returns aligned with Singapore’s structural strengths.

    Read the full thesis
  • Marco Polo Marine Ltd
    December 2025

    Marco Polo Marine Ltd is evolving from a distressed cyclical yard into a higher-value offshore wind and specialized vessel solutions provider with stronger utilization, customers, and a longer growth runway.

    Read the full thesis
  • Taiwan Semiconductor Manufacturing Company
    December 2025

    Taiwan Semiconductor Manufacturing Company is the dominant leading-edge foundry with technology leadership, manufacturing excellence, and deep customer trust driving strong growth and profitability.

    Read the full thesis
  • Tencent Holdings Ltd
    December 2025

    Tencent Holdings Ltd is a dominant Chinese platform with WeChat, gaming, fintech and cloud businesses, benefiting from strong management execution, expanding margins, and a durable moat.

    Read the full thesis

Letter archive · 5

2026

2025

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