LongNOWJun 2026
ServiceNow, Inc.
Lakehouse believes fears that AI and vibe coding will destroy deeply embedded enterprise software platforms are too broad. ServiceNow's value lies not simply in its user…
Lakehouse Global Growth Fund
High-conviction, low-turnover global growth equity investing in businesses with durable competitive advantages, recurring demand, pricing power and long reinvestment runways.7 published ideas
Lakehouse Global Growth Fund is managed by Lakehouse Capital Pty Ltd and invests in a concentrated portfolio of global growth companies. The strategy emphasises entrenched competitive positions, intellectual property, customer loyalty and network effects, with an underwriting horizon of roughly three to five years.
Ideas from Lakehouse Global Growth Fund
LongGOOGJun 2026
Alphabet Inc.
Alphabet was the fund's strongest contributor as investor concerns shifted from AI cannibalisation of Search toward recognition of the company's AI advantages. Search growth…
LongVJun 2026
Visa Inc.
Lakehouse sees Visa evolving from a traditional card network into a broader financial-technology platform. Revenue growth accelerated to its strongest rate since 2022, with…
LongMELIJun 2026
MercadoLibre, Inc.
MercadoLibre remains Lakehouse's largest holding despite being the biggest performance detractor during the year. Revenue accelerated to 49% year-on-year and gross merchandise…
LongADYENJun 2026
Adyen N.V.
Adyen's shares weakened after revenue growth slipped below the long-expected 20% level and management continued reinvesting heavily. Lakehouse believes the market is overlooking…
LongWKJun 2026
Workiva Inc.
Lakehouse believes AI-disruption fears around Workiva are misplaced because financial reporting demands accuracy, traceability and auditability that probabilistic models alone…
LongVEEVJun 2026
Veeva Systems Inc.
Lakehouse established its Veeva position during the software selloff, attracted by the company's dominant and mission-critical position within life sciences. Veeva is embedded…
Letters covered
- Lakehouse Global Growth Fund Annual LetterJune 30, 2026
Source PDFs are not republished here; only extracted ideas and quotes.