FUND LAUNCH DATE
FUND BASE CURRENCY
FUND TYPE
Fund AUM
Join Jim Robillard, CIO of Spyglass Capital, as he reviews Q2 2026 - covering key contributors, portfolio additions, and his perspective on current market conditions
James A. Robillard, Founder & CIO of Spyglass Capital Management
introduces the fund's investment philosophy, process, and strategy.
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The Spyglass US Growth Fund (UCITS) seeks to achieve long - term capital appreciation with a view to outperforming the Russell 2500TM Growth Total Return Index.
The fund invests in a concentrated, long-only portfolio of 25 rapidly growing, small- to mid-sized growth companies that are led by entrepreneurial management teams operating in secular growth industries. The investment characteristics promoted by this fund include sound corporate governance and strong disclosures around sustainability/impact.
At Spyglass, we are Value Investors in Growth Companies. We do not conform to a traditional investment style. We invest with a well-defined framework in businesses operating in secular growth industries.
Spyglass believes alpha is driven by three primary factors: a differentiated opinion based on Original Fundamental Research, a Valuation Discipline based on expected company fundamentals, and Portfolio Concentration in 25 Stocks of our highest conviction investment ideas.
Aravis Funds (Ireland) ICAV has appointed Spyglass Capital Management LLC of San Francisco as investment manager of the fund. More information on the investment manager can be found here at the Spyglass Capital website.
By selecting this link, you are leaving the Aravis Funds website. This link to an external website is provided for informational purposes only. Neither Aravis Funds (Ireland) ICAV nor its affiliates are responsible for the content within this linked site and no endorsement of their content is implied.
| Fund Launch Date | 27th September 2019 |
| Fund AUM as of 30th September 2026 | $433M |
| Fund Base Currency | USD |
| Fund Type | UCITS |
| Number of holdings | 25 |
| Benchmark | Russell 2500TM Growth Index |
| SFDR Classification | Article 8 |
| I USD Accum. *NAV | $18.581 |
| Registered for Sale | Austria, France, Germany, Italy, Luxembourg, Norway, Spain, Singapore, Sweden, Switzerland, United Kingdom |
*The Net Asset Value is calculated as of 30th September 2026 and is likely to have high volatility owing to its composition and the portfolio management techniques used.
| Share Class | I USD Accumulating |
| Bloomberg | SUGFIUA |
| ISIN (Class I Accumulating) | IE00BK6SB820 |
| Share Class | Currency | Bloomberg Ticker | ISIN | Mgmt Fee | NAV* |
|---|---|---|---|---|---|
| Class I Accumulating | USD | SUGFIUA | IE00BK6SB820 | 1% | $18.581 |
| Class I Distributing | USD | SUGFIUD | IE00BK6SB937 | 1% | $16.857 |
| Class I Accumulating | EUR | SUGFIEA | IE00BK6SBD77 | 1% | €16.597 |
| Class I Distributing | EUR | SUGFIED | IE00BK6SBF91 | TBC | - |
| Class I Accumulating | GBP | SUGFIGA | IE00BK6SBJ30 | 1% | £16.163 |
| Class I Distributing | GBP | SUGFIGD | IE00BK6SBK45 | 1% | £13.353 |
| Class A Accumulating | USD | SUGFAUA | IE00BMFZRS04 | 1.4% | $13.598 |
| Total Ongoing Charges | 1.15% |
| Subscription Fee | Up to 3% |
| Redemption Fee | None |
| Management Fee | 1% |
| Minimum Initial Investment | $1,000 |
| Minimum Subsequent Investment | $0 |
The Net Asset Value is likely to have high volatility owing to its composition and the portfolio management techniques used.
The on-going charges are the fees the fund charges to investors to cover the costs of running the Fund. Additional costs, including transaction fees, will also be incurred. These costs are paid out by the Fund, which will impact on the overall return of the Fund.
Performance data to 31st August 2026
| Spyglass (UCITS) Fund | Russell 2500 Growth Index | |
|---|---|---|
| Month | 4.7 | 1.4 |
| YTD | -5.1 | 11.8 |
| 1 year | -2.3 | 15.3 |
| 3 year | 21.6 | 14.1 |
| 5 year |
1.0 |
3.5 |
| ITD | 10.6 | 10.4 |
3 yr, 5yr, and ITD: annualized
(1) Past Performance does not guarantee future results. Spyglass (UCITS) IUA Share class launch date: 25 October 2019.
(2) Performance based on I USD Accumulating share class.
(3) Performance of the Russell 2500 Growth Index is included for informational purposes only and includes the reinvestment of dividends. Data source: Bloomberg.
(4) From time to time the number of holdings may deviate from 25 portfolio holdings due to trading activity. The Earnings Growth 2 Year Estimated CAGR is a Spyglass research estimate for the portfolio. For the Russell 2500 Growth index, the Earnings Growth 2 Year Estimated CAGR is calculated using Bloomberg's "Pos Earn Before XO Items" (Mnemonic IN011) and "Pos Est Earnings FY3 Aggte" (Mnemonic IN100). Market Cap and number of holdings sourced from FTSE Russell for the Russell 2500 Growth Index.
(5) Portfolio sector weights are determined by the Legacy Bloomberg Industry Classification System (BICS) Level III (Industry Subgroup).
| Portfolio Characteristics | Spyglass (UCITS) Fund | Russell 2500 Growth Index |
|---|---|---|
| Weighted Avg Market Cap (Billions) | 35.6 | 7.9 |
| Median Market Cap (Billions) | 17.3 | 1.9 |
| Number of Holdings | 25 | 1,250 |
| Earnings Growth 2 Yr. Est CAGR | 51% | 22% |
(Ordered alphabetically)
| Affirm Holdings, Inc. |
| Applovin, Inc. |
| Chime Financial, Inc. |
| Mongodb, Inc. |
| Samsara, Inc. |
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For further information on the fund's investment policy and specific fund risk information, please refer to the Key Investor Information Document (KIID). The prospectus is also available on this site.
Investment in the funds described on this website carries a substantial degree of risk and places your capital at risk. The price and value of investments can go down as well as up. You may not get back the original amount invested and you may lose all of your investment. Investment in the funds described on this website is not suitable for all investors. If you are in any doubt as to the suitability of an investment in a fund for you, you should consult an independent financial advisor. In any event, you should only invest in a fund once you have carefully read and understood the prospectus for the fund. The information on this website does not constitute, and should not be construed as, investment advice or a recommendation to buy, sell or otherwise transact in any security including, but not limited to, shares in the funds.
The information and/or the investment opportunity is not intended for US investors.
Thu 9th Jul 2026
Tue 19th May 2026
Mon 30th Mar 2026
Spyglass US Growth Fund (UCITS)
CACEIS Investor Services Ireland Limited
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W: www.caceis.com
Aravis Capital
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SW1Y 5EA
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W: www.araviscapital.com
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Dublin 2, Ireland
T: +353 1 489 6800
W: www.carnegroup.com
Our team has a wide variety of experience which is put to use every day to help our clients reach their objectives.
Company Information
Aravis Funds (Ireland) ICAV is authorised and regulated by the Central Bank of Ireland.
Aravis Capital Limited is authorised and regulated by the Financial Conduct Authority (FRN 1015146). Aravis Capital Limited is registered in England and Wales (no. 09919517), its registered office is 123 Pall Mall, St James’, London, SW1Y 5EA.
This Website is issued by Aravis Capital Limited and is for information purposes only, it is not an offer or solicitation to invest in any Aravis associated fund.
Regulatory Information
Aravis Capital Ltd is authorised and regulated by the Financial Conduct Authority (FRN: 1015146). Registered in England and Wales (no. 09919517), registered office 123 Pall Mall, St James', London, SW1Y 5EA.
Aravis Funds (Ireland) ICAV is authorised and regulated by the Central Bank of Ireland.
Eligibility and Restrictions
Investment Risks and Disclaimers
Required Documentation
Before making any investment decision, investors should carefully read:
Aravis Funds (Ireland) ICAV - Interim Financial Statements | 30 June 2026 
