
Portfolio Update: July 2025
Our portfolio keeps doing well, with a return of 25.1% since launch, and we're still confident in key holdings like Evolution AB, LVMH, and Novo Nordisk — even if they've faced some short-term bumps. Evolution surprised on earnings, LVMH looks undervalued with Arnault buying more, and Novo Nordisk stays strong in the growing obesity market.Stocks