80-20 Investor Best of the Best Selection – July 2026 Update

June saw equity markets endure bouts of volatility, driven by a combination of growing AI exhaustion, unexpectedly hawkish interest rate guidance from the US Federal Reserve and quarter-end portfolio rebalancing exacerbated by a liquidity drain from the massive SpaceX IPO. Ultimately the BOTB selection finished in positive territory alongside its benchmarks. Interestingly the tight correlation between the performance of the BOTB (blue line) and the BOTB benchmark (red line), which tracks the impact of the BOTB's underlying asset mix, suggests that it was the asset allocation rather than the performance of individual funds, that had the biggest impact on returns during June. In fact, in the first half of the month exposure to technology and Asian/emerging market stocks was a drag on performance as these markets slumped. However, their rebound in the second half of the month saw the BOTB rebound too.

With the BOTB ending the month where it began, 17 funds have retained their place in July's BOTB.