Goodhart Partners
Goodhart Partners European Fund
Europe
Mar 2026 → Jun 2026
Our archive holds 2 letters from this strategy, behind 3 investment theses and positions in 8 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year — follow all of Goodhart Partners for every strategy.
What it bought and sold
Other new positions are Wolters Kluwer, Bonesupport, Raysearch and Scout24 which are not really AI losers in our view but have been hit on that basis during the SaaS apocalypse.
We bought Rheinmetall after a halving of the share price culminating in a 20% fall in the loss of a frigate contract.
Elsewhere we have added a position in Gaztransport et Technigaz (16x FY1 PE), who have a global monopoly on LNG membranes on the basis demand is likely to remain robust, and the new management can develop a sizable service and aftermarket business from its current low level.
- New positionRaySearchJun 2026
Other new positions are Wolters Kluwer, Bonesupport, Raysearch and Scout24 which are not really AI losers in our view but have been hit on that basis during the SaaS apocalypse.
Other new positions are Wolters Kluwer, Bonesupport, Raysearch and Scout24 which are not really AI losers in our view but have been hit on that basis during the SaaS apocalypse.
Other new positions are Wolters Kluwer, Bonesupport, Raysearch and Scout24 which are not really AI losers in our view but have been hit on that basis during the SaaS apocalypse.
Also held
- Cicor
- Bakkafrost
- Royal Unibrew
Its investment theses
- BakkafrostJun 2026Bakkafrost is expected to benefit from a Scotland recovery, ending one-off salmon supply pressure, structurally growing salmon demand, and potential El Nino-related supply disruption.
- BonesupportMar 2026Bonesupport is an orthobiologics company with a differentiated injectable bioceramic and long-term growth potential at a more acceptable valuation.
- RaySearch LaboratoriesMar 2026RaySearch Laboratories is a radiotherapy software company with durable relevance and long-term growth now available at a more attractive price.