London Company Large Cap Strategy’s Q1 2026 Investor Letter

The London Company released its Q1 2026 investor letter for ‘The London Company Large Cap Strategy”. In early 2026, US equities declined, with the Russell 3000 falling 4% and the S&P posting losses. The year started positively with a broad rally, but sentiment reversed in March due to the Iran conflict. Crude oil prices rose, raising inflation concerns and shifting the Fed’s outlook from rate cuts to hikes. Large-cap growth suffered double-digit losses amid weakness in Big Tech and AI concerns in software. Sector dispersion was extreme; Energy surged over 35%, while Tech fell over 9%. The London Company Large Cap portfolio returned 2.6% (2.4% net) in the quarter, outperforming the Russell 1000’s 4.2% decline, supported by stock selection and sector exposure. The strategy’s quality, high active share, and downside resilience were effective in an unsettled market. The firm views the recent setback as a pause in a multi-year cycle, not a reversal. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.

A copy of London Company Large Cap Strategy’s Q1 2026 investor letter is available to download here.

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