Q2 2026 Breifing : Conviction, exit discipline, and the case for trimming

1. Conviction paid — the largest positions drove returns in most portfolios, while managers added fastest to the smallest ones.

2. Winners are now held roughly 40 days less than losers on average — a long erosion of exit discipline that has flipped sign.

3. Trimming, not new buys, was the best-performing decision type this half-year.

---

Watch the full briefing

Register to unlock the Q2 2026 video.

First time viewing this edition? One short form. You'll get an emailed link straight to the video — bookmark it and you won't need to register again for this edition.