Hearts and Minds Investments

High-conviction global
equities portfolio

About HM1

Maximising Returns, Advancing Research

Hearts and Minds Investments Limited (HM1) is a listed investment company that invests in a high-conviction global equities portfolio, based on ideas from a select group of leading fund managers.

HM1 aims to deliver strong long-term returns for shareholders while supporting Australian medical research through donations made in lieu of traditional management fees.

10.97
% p.a.

Investment Returns

Since inception November 2018

 

$
3.67

Pre-Tax NTA

Value as at close of business on 27 June 2025

$
78
m+

Donation Amount

Collectively with Sohn Hearts & Minds since 2016

3.21

Share price

price delay ~20min

A portfolio powered by

expertise and purpose

Global ideas. Australian purpose.

HM1 is a listed investment company that constructs a high-conviction global equities portfolio by partnering with a select group of fund managers who contribute their best ideas on a pro bono basis. In place of traditional management fees, HM1 donates 1.5% of net assets each year to support Australian medical research - aligning strong investment focus with long-term impact.

Our Story

Core Portfolio

Targets 65%
of the portfolio
65%

Built on insight

Driven by conviction

Invest in a concentrated, high-conviction global equities portfolio.

Constructed from 25–35 carefully chosen securities by selected fund managers, HM1's portfolio offers diverse industry and regional exposure while maintaining strong conviction.

Our Chief Investment Officer, overseen by our Investment Committee, actively manages HM1’s portfolio to align with its high-conviction strategy.

Featured Insights

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July 1, 2025

Nick Griffin on finding stocks that can double earnings in 5 years

In this episode of Success and More Interesting Stuff, Griffin shares how he built Munro from $20 million to more than $5 billion in FUM, the key signals he looks for in structural winners, and what comes next for AI, healthcare, and defence investing.

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Steven Marks presenting at the 2023 Sohn Hearts & Minds Conference in Sydney.
June 27, 2025

Still Obsessed - Steven Marks, Co-Founder and Co-CEO Guzman y Gomez

Discover the next chapter for GYG—what’s changed, what hasn’t, and what Steven’s learned along the way. It’s a candid look at what it takes to lead through hypergrowth without losing the heart of the brand.

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May 26, 2025

Less than 5% of stocks are “genuine winners” – here’s how to find them

Interesting story or genuine growth company? "Show me the earnings growth, and I’ll show you what I think about it" says Munro's Qiao Ma.

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