CONTRARIAN INVESTMENTS

At Contrarian Investments we don't believe that markets are efficient, that capital is deployed sensibly, that mainstream popular investments consistently offer a positive risk/reward asymmetry.

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We believe that sectors are often unloved for no good reason, that consensus views often become backward-facing, that the wider investment community (including the algos) have recency bias, that there are investments out there that offer large rewards for limited risk, even if they are hard to find. In order to be successful, thorough research needs to be undertaken, the best propositions chosen, and capital deployed sensibly, opportunistically and most important of all patiently. 

 

Our investment thesis' are built on strong fundamentals, on sectors that have been starved of capital yet are hugely capital intensive, leading to highly cyclical markets and have time horizons of 3-6 years for the full fruition of
our investments. 

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We believe that this is what creates alpha in a world that is otherwise becoming driven by algorithms and indexes. We take an active human approach, bottom-up research using time-honoured methodologies to find the best investment opportunities of today. We are excited by what we're seeing, 2020 through to now has been a period not to forget, with plenty of opportunities presented to the conscious investor.

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​Since the start of active management of our portfolio on 1 January 2020, our portfolio's cumulative performance through to the end of 2024 is over 10x.

 

As our funds under management have grown, we have diversified our holdings across international equity markets, alongside an increasing number of holdings in private companies, predominately based in the UK, across all sectors. We now hold multiple positions in UK private companies focusing on niches within the e-commerce space, each having global reach, along with investments into early-stage private companies focusing in the natural resources space. We continue to look to add to our private holdings with a focus in natural resources and AI. 

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Given we now hold multiple positions in private small companies, it is harder to provide accurate annualised performance figures and so we have stopped doing so effective 1 January 2025. 

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Ben Fillmore

Founder - Contrarian Investments