Following the strong rebound in August, Global Strategy continued its positive trend in September. The portfolio posted a return of +7.82% this month .
This means that, following the sharp correction in July, the strategy has now posted two strong months in a row. August yielded +9.69%, and September added another +7.82 %.
The return for 2026 now stands at +46.70%. Global Strategy has thus reached a new all-time high since the strategy’s inception. Not only has the July correction been fully recouped, but the portfolio has also risen to a new record high.
Clearly outperforming the market
September’s result takes on added significance when compared to several key stock market indices.
| September 2026 | Return |
|---|---|
| Global Strategy | +7.82% |
| Nasdaq-100 (USD) | +3.23% |
| IWDA / MSCI World ETF (EUR) | +1.82% |
| AEX (EUR) | +0.83% |
| MSCI World (USD) | -0.87% |
| Dow Jones (USD) | -4.29% |
Global Strategy thus clearly outperformed the major benchmarks in September.
The difference between the MSCI World in dollars (-0.87%) and the IWDA in euros (+1.82%) is largely explained by the stronger dollar. The EUR/USD exchange rate fell from approximately 1.161 to 1.132during September . For our comparison, I therefore consider the IWDA in euros to be the most relevant global benchmark.
2026: +46.70% and a new record high
This year’s price performance clearly illustrates the nature of the Global Strategy. The focus on innovative growth companies sometimes leads to greater volatility, but at the same time offers the opportunity to benefit significantly when the selected themes are in the spotlight.
| Month 2026 | Return |
|---|---|
| January | +5.85% |
| February | -6.66% |
| March | -2.59% |
| April | +23.33% |
| May | +17.10% |
| June | +5.54% |
| July | -13.38% |
| August | +9.69% |
| September | +7.82% |
| 2026 through September | +46.70% |
The performance over the last three months stands out in particular. Following a correction of -13.38% in July, the fund rebounded by +9.69% in August and then by +7.82% in September.
At the same time, these movements demonstrate that Global Strategy is not a defensive strategy. The focus is explicitly on growth companies and structural technological trends. This can lead to greater price movements in both directions.
AMD Strong, MongoDB Unexpectedly Under Pressure
In September as well, significant contributions came from the segments that Global Strategy has been focusing on for some time: artificial intelligence, semiconductors, cloud, data, and digital infrastructure.
One of the most notable developments within the portfolio was AMD. The stock rose in September from approximately $469 to $614, an increase of over 30%. It was an exceptionally strong month, during which AMD made a significant contribution to Global Strategy’s performance.
In contrast , MongoDB’sperformance was disappointing and somewhat unexpected . On September 28, it was announced that CEO CJ Desai was stepping down effective immediately to lead a new enterprise AI division at Meta. Investors initially reacted very negatively: at the opening, the stock plummeted by about 25%.
As trading progressed, MongoDB recovered some of that loss. For Global Strategy, MongoDB’s decline in September ultimately cost approximately €241.
Despite this setback, I still have a great deal of confidence in the company and in MongoDB’s position within the cloud, data, and AI sectors. The company maintained its financial guidance, and former CEO Dev Ittycheria has returned as interim CEO for the time being.
September thus also clearly demonstrates that not every position needs to perform well at the same time. Despite the significant setback with MongoDB, the positive contributions from AMD and other positions were more than enough to pushthe portfolio as a whole upto +7.82% and a new all-time high.
Outlook
The structural themes on which Global Strategy focuses— AI, semiconductors, cloud technology, data, and digital infrastructure —remain central. Following strong price gains, profits can be partially locked in, while new opportunities are capitalized on as they arise.
September was thus another excellent month. Not only because of the +7.82%return , but especially because it clearly outperformed the major benchmarks.
Compared to Global Strategy’s +7.82%, the Nasdaq-100 returned +3.23%, the IWDA +1.82%, and the AEX +0.83%.
With a return of +46.70% in 2026, Global Strategy has now reached a new all-time high.
For investors who believe in the long-term growth of AI, semiconductors, cloud computing, data, and digital infrastructure, Global Strategy can be an interesting addition to an existing investment portfolio.
September 2026 Return: +7.82%
YTD return through September 2026: +46.70%
New all-time high
Global Strategy – actively investing in the technology of tomorrow.
Best regards,
Ruud Hoefnagels
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