Maggie Fanari
Chief Executive Officer
Quoted equities
Diversified, global high-conviction strategies held directly through stocks, as well as public equity funds.
We target high-conviction investments in listed equity markets, aiming for returns that outperform relevant equity market indices. We source these investments either directly through our internal team or through our network of exceptional, specialist managers.
By combining our unique global network, flexible capital base, and deep in-house expertise, we generate original insights and identify the most compelling opportunities in the public markets.
30-60%
Typical allocation
45.8%
Current allocation, as at 30 June 2025
Quoted equities portfolio by
Category (% of NAV)
Region (% of portfolio)
As at 30 June 2025
Top 5 quoted equities
As at 30 June 2025. For a more detailed list of investments and latest updates please see our Half-Yearly Report June 2025.
| Investment holdings | Country/Region | Industry/Description |
|---|---|---|
| Microsoft Corporation | USA | Software & services |
| Webull | USA | Fintech |
| National Grid | UK | Electric Utilities |
| Somnigroup International, Inc. | USA | Home furnishings |
| Amazon.com | USA | E-commerce |
Total % of NAV – 8.4% as of 30 June 2025
| Investment holdings | Country/Region | Industry/Description |
|---|---|---|
| Discerene | Global | All-cap, value bias |
| 3D Opportunity | Japan | All-cap, diversified |
| BlackRock® Strategic Equity | Global | All-cap, diversified |
| Springs Opportunities | China | All-cap diversified |
| HCIF Offshore | USA | All-cap, healthcare |
Total % of NAV – 16.9% as of 30 June 2025
The quoted equity category includes stocks (held directly and via co‐investment vehicles), funds and derivatives. As a result, the liquidity of the individual positions may be influenced by market volumes as well as the redemption terms of the specific funds or co‐investment vehicles
Case studies
Our portfolio in action
Our case study series offers a window into some of the opportunities we have invested in – both existing and realised.
Meet our team
Our highly skilled, hardworking in-house team are thorough yet nimble, able to move quickly and seize compelling opportunities when they arise.
Richard Lewis
Head of Compliance
Hitesh Haria
Head of Equity Funds
Thomas Fitchett
Head of Tax & Structuring
Kate Benson
Investment Executive, Public Equities
Katherine Parker
Head of Human Resources
Alex Davies
Investment Funds Analyst
Zinka MacHale
Head of Communications & Marketing
Philippe Costeletos
Chairman
Vikas Karlekar
Non-Executive Director
Dame Hannah Rothschild DBE CBE
Non-Executive Director
Cecilia McAnulty
Non-Executive Director
André Perold
Non-Executive Director
Jutta af Rosenborg
Senior Independent Director
Helena Coles
Non-Executive Director
Discover more
A mix of strategies which aim to generate consistent returns in different market conditions, with a lower correlation to equity markets across the cycle.
High-quality assets in private markets, held through both direct investments and specialist managers.
Our flexible mandate allows for an unconstrained approach to investing, meaning effective risk management is essential to construct a well-balanced portfolio.