Liontrust
Liontrust Global Alpha Fund
Jun 2026 → Jul 2026
Our archive holds 2 letters from this strategy and positions in 31 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year — follow all of Liontrust for every strategy.
Performance
as of Jul 31, 2026 · net of fees · GBP · C Acc GBP
- YTD+5.3%index +11.3%
- 1Y+12.0%index +20.1%
Index: MSCI ACWI
| YTD | 1Y | |
|---|---|---|
| Liontrust Global Alpha Fund | +5.3% | +12.0% |
| MSCI ACWI | +11.3% | +20.1% |
Calendar years
- 2025+7.7%index +7.2%
- 2024+19.2%index +20.1%
- 2023+7.5%index +11.3%
- 2022−25.0%index −4.2%
Disclaimer
These figures are copied from the manager’s latest letter, as of Jul 31, 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.
Read full disclosures →What it bought and sold
The portfolio added three names in the financials sector: NU Holdings, Citigroup and Wells Fargo.
We sold out of Deutsche Telekom and T-Mobile where newsflow is subdued and shares likely dead money for next quarters.
The portfolio added three names in the financials sector: NU Holdings, Citigroup and Wells Fargo.
The portfolio added three names in the financials sector: NU Holdings, Citigroup and Wells Fargo.
We sold out of Deutsche Telekom and T-Mobile where newsflow is subdued and shares likely dead money for next quarters.
We also sold Intuitive Surgical, a long-term and still favoured holding but one where headwinds are likely to persist in the shorter term.
These buys were funded by sales of ServiceNow and Trimble, reducing overall software and long-duration growth, and by exiting BAE Systems and Rolls-Royce which dials back our geopolitically sensitive exposure.
- New positionEssilorJun 2026
Other new positions included OHB, a key beneficiary of the Space / Satellite theme, Novo Nordisk within the obesity market, Essilor, a favoured play on wearable AI, and Tencent, increasing our exposure to China technology.
We added exposure to hardware and compute through purchases of Amazon, TSMC and STMicro, with the latter two also increasing regional exposure to Taiwan and Europe respectively.
Within the financials sector, a combination of limited upside to our current price targets and a declining T-Score in our risk systems led us to reduce the overall exposure by selling out of Mastercard, ICICI Bank and The London Stock Exchange.
Within the financials sector, a combination of limited upside to our current price targets and a declining T-score in our risk systems led us to reduce the overall exposure by selling out of Mastercard, ICICI Bank and The London Stock Exchange.
We increased the weight in the energy sector, establishing new positions in Halliburton and Viridien.
We added exposure to hardware and compute through purchases of Amazon, TSMC and STMicro, with the latter two also increasing regional exposure to Taiwan and Europe respectively.
These buys were funded by sales of ServiceNow and Trimble, reducing overall software and long-duration growth, and by exiting BAE Systems and Rolls-Royce which dials back our geopolitically sensitive exposure.
Other new positions included OHB, a key beneficiary of the Space / Satellite theme, Novo Nordisk within the obesity market, Essilor, a favoured play on wearable AI, and Tencent, increasing our exposure to China technology.
The Fund’s materials exposure dragged as rotation within the commodity space saw profit taking from our overweight in the mining sector (including Agnico Eagle Mines and Newmont Corporation).
The Fund’s materials exposure dragged as rotation within the commodity space saw profit taking from our overweight in the mining sector (including Agnico Eagle Mines and Newmont Corporation).
We increased the weight in the energy sector, establishing new positions in Halliburton and Viridien.
Other new positions included OHB, a key beneficiary of the Space / Satellite theme, Novo Nordisk within the obesity market, Essilor, a favoured play on wearable AI, and Tencent, increasing our exposure to China technology.
We added exposure to hardware and compute through purchases of Amazon, TSMC and STMicro, with the latter two also increasing regional exposure to Taiwan and Europe respectively.
These buys were funded by sales of ServiceNow and Trimble, reducing overall software and long-duration growth, and by exiting BAE Systems and Rolls-Royce which dials back our geopolitically sensitive exposure.
We initiated Alibaba to add exposure to China consumer and data/platform themes.
- ExitedNoVo NesisJun 2026
We also sold M3 on T-Score/factor considerations within healthcare and a view it could be an AI loser, and exited NoVo Nesis where we saw limited upside and less confidence in inflation pass-through.
These buys were funded by sales of ServiceNow and Trimble, reducing overall software and long-duration growth, and by exiting BAE Systems and Rolls-Royce which dials back our geopolitically sensitive exposure.