WHG Global LB Fund Up 30% YTD; Gains On Exchanges Shorts And Bets Against Brazil

WHG Global LB Fund‘s commentary for the month ended June 30, 2026.

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Below is a summary of the key themes that influenced this month’s results.

Performance

June: +2.1%

YTD: +30.0%

ITD: +183.9%

Monthly Commentary

Positive Highlights:

AI Infrastructure: June performance reflected a focus shift toward the scarcity of supply, rewarding companies with advantaged access to capacity, constrained components, and financing. Firstly, the funding and capacity side became more central, as Alphabet raised $80bn to support AI infrastructure expansion, Korea announced a near US$1 trillion multi-year investment plan, and Elon Musk’s TeraFab project became more tangible. That scarcity dynamic began to show up downstream, with Dell and HPE reporting unexpectedly strong server revenue, reinforcing the view that those with access to constrained components are capturing disproportionate growth. Lastly, behavior across the stack confirmed a tight backdrop, as Apple raised prices by more than expected, Amazon increased GPU instance prices by 20%, and Google limited Meta’s use of Gemini models due to compute constraints.