Emerald Wealth Partners – Focused Equity Strategy’s Q2 2026 Investor Letter 

Emerald Wealth Partners, an independent asset and wealth management firm based in Zurich, released its Q2 2026 investor letter for the “Focused Equity Strategy.” The Strategy reported a 0.8% gross return for the second quarter of 2026. Equity markets rallied after the first quarter’s Iran shock faded and oil prices reversed their spike, but the advance remained narrow and concentrated in cyclical semiconductor and memory stocks benefiting from supply constraints. The letter warned that investors were treating peak-cycle earnings as durable, while FOMO, IPO demand, and a US cyclically adjusted P/E ratio near 40 pointed to late-cycle market behavior. Long-term fundamentals are currently undervalued by the market, leading to underperformance in the strategy, notably due to the portfolio’s avoidance of low-quality momentum-driven semiconductor stocks, which boosted the benchmark this quarter. It remains focused on enterprise infrastructure, digital platforms, custom silicon, and networking businesses that hold customer relationships, workflow data, distribution, and efficiency advantages, which could allow them to monetize AI rather than be displaced by it. Please review the Strategy’s top five holdings for its key selections.

A copy of Emerald Wealth Partners – Focused Equity Strategy’s Q2 2026 investor letter can be downloaded here.