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Emerald Wealth Partners, an independent asset and wealth management firm based in Zurich, released its Q2 2026 investor letter for the "Focused Equity Strategy." A copy of the letter can bedownloaded here.
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.
In its second-quarter 2026 investor letter, Emerald Wealth Partners Focused Equity Strategy highlighted Shell plc (NYSE:SHEL).
Headquartered in London, United Kingdom, Shell plc (NYSE:SHEL) operates as an energy and petrochemical company.
On August 4, 2026, Shell plc (NYSE:SHEL) closed at $89.84 per share.
One-month return of Shell plc (NYSE:SHEL) was 9.24% and its shares gained 24.36% over the past 52 weeks.
Shell plc (NYSE:SHEL) has a market capitalization of $247.4 billion.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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