Global Masters Fund Posts Lower March NTA Amid High-Concentration Portfolio

The latest update is out from Global Masters Fund Limited ( (AU:GFL) ).

Global Masters Fund Limited reported an unaudited net tangible asset backing per share of 416.5 cents before estimated tax on unrealised gains and 342.9 cents after tax as at 31 March 2026, down from February levels. The figures reflect deferred tax provisions on unrealised portfolio gains and underline the company’s stance as a long-term investor not intending to dispose of its total portfolio, which may temper concern over short-term NTA volatility.

The company’s portfolio remains heavily concentrated, with nearly 60% invested in Berkshire Hathaway and a further 23.23% in the ECP Global Growth Fund, while smaller positions in a UK managed portfolio, Flagship Investments, NobleOak Life and a flexible global fund, plus 4.4% cash, round out its holdings. This composition highlights a high-conviction global equity strategy that exposes shareholders to the performance of a small number of key vehicles, particularly Berkshire Hathaway, which will continue to drive the fund’s asset backing.

The most recent analyst rating on (AU:GFL) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Global Masters Fund Limited stock, see the AU:GFL Stock Forecast page.

More about Global Masters Fund Limited

Global Masters Fund Limited is an Australian listed investment company that acts as a long-term equity investor, focusing on a concentrated portfolio of global and domestic holdings. Its largest exposure is to Berkshire Hathaway on the NYSE, complemented by positions in the ECP Global Growth Fund, a UK managed portfolio, Flagship Investments, NobleOak Life, and other managed funds, alongside a modest cash allocation.

Average Trading Volume: 5,960

Technical Sentiment Signal: Hold

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