Evermore Strategies
Evermore Global Quality Fund
Taking expressions of interest
A concentrated portfolio of high-quality global businesses, selected with a disciplined focus on valuation.
- Approach
- Quality at a reasonable price
- Focus
- North America, Europe and Asia
- Established
- 30 June 2026
The approach
We seek durable competitive advantages, strong cash generation and sound balance sheets at prices that allow attractive prospective returns. Quality alone is not enough: the price paid must justify the risks.
The portfolio
Capital is directed towards the strongest opportunities across industries and regions, rather than index weights. Position sizes reflect conviction, valuation and downside risk.
Largest model holdings
Target weights effective 1 October 2026. The top 10 account for 54.5% of the portfolio.
| Company | Weight | Investment thesis |
|---|---|---|
| ResMed | 6.5% | Global sleep and respiratory-care business with recurring demand. |
| Booking Holdings | 6.0% | Online travel platform with scale and strong cash generation. |
| Tencent Holdings | 6.0% | Digital platforms across gaming, social media, payments and advertising. |
| Ahold Delhaize | 6.0% | Food retailer with resilient cash flows and an attractive valuation. |
| Microsoft | 5.5% | Enterprise software and cloud services with recurring revenue. |
| Alphabet | 5.5% | Search, advertising, YouTube and cloud businesses. |
| Visa | 5.0% | Global payments network with high margins and low capital intensity. |
| RELX | 5.0% | Recurring information, data and analytics services. |
| Intercontinental Exchange | 4.5% | Exchanges, clearing and financial data infrastructure. |
| Danaher | 4.5% | Life sciences and diagnostics with recurring consumables revenue. |
Selected model holdings only, not the complete portfolio. Holdings and weights may change and are not a recommendation.
Performance
Q1 FY2027: 1 July to 30 September 2026. Model-portfolio gross total returns in US dollars, including dividend entitlements.
Returns are before management fees, performance fees, transaction costs, withholding tax and investor tax. Model returns do not represent an external investor’s return. Past performance is not a reliable indicator of future performance.
Research
Quarterly letters
Discuss this strategy
Register interestAsk a questionCapital is at risk. Model portfolios are illustrative and do not represent returns received by an external investor.
Investment framework and important information
Portfolio discipline
Portfolio construction considers liquidity, correlation, geographic and sector exposure. A concentrated strategy can experience larger fluctuations than a broadly diversified index. Currency movements and changes in company fundamentals can affect outcomes.
This information is general in nature and does not take account of your objectives, financial situation or needs. No financial product is currently available through this website. Any future offer is subject to appropriate legal, regulatory and offer documentation.