Breaking down the stocks Hamilton Helmer (Strategy Capital) bought, sold, and held in Q2 2026, including their holdings at the end of the quarter. All data sourced from Strategy Capital's 13F filed on August 13, 2026.
Who are Hamilton Helmer and Strategy Capital?
Strategy Capital is a focused investment firm founded by Hamilton Helmer, author of the influential business strategy book 7 Powers. The firm maintains a highly concentrated portfolio of select growth businesses with sustainable competitive advantages. Helmer's investment approach centers on identifying companies utilizing distinctive strategic frameworks to disrupt markets and capture substantial market share.
Strategycapital.com
Wikipedia on Hamilton Helmer
7 Powers (Book)
Q2 '26 13F filed with SEC
Holdings in Q2 2026
| Ticker | Company | Weight | Change | Value |
|---|---|---|---|---|
| Cloudflare | 16.7% | Trimmed (-3%) | $271.3M | |
| Axon | 13.4% | Trimmed (-3%) | $216.73M | |
| Datadog | 11.4% | Trimmed (-3%) | $184.82M | |
| Shopify | 11.3% | Trimmed (-3%) | $183.02M | |
| Astera Labs | 10.2% | Trimmed (-3%) | $165.36M | |
| Amazon | 9.9% | Trimmed (-3%) | $160.5M | |
| Taiwan Semiconductor | 9.8% | Trimmed (-3%) | $158.36M | |
| CrowdStrike | 6.5% | Trimmed (-3%) | $105.72M | |
| Meta | 5.0% | Trimmed (-3%) | $81.82M | |
| Nu Holdings | 3.4% | Trimmed (-3%) | $55.61M | |
| Tesla | 2.4% | Trimmed (-3%) | $39.5M |
Current Investment Strategy
Hamilton Helmer's Strategy Capital continues to run an ultra-concentrated, long-only portfolio anchored in the "7 Powers" framework he pioneered, holding roughly ten to eleven high-conviction technology and disruptive-growth names—led by Shopify, Cloudflare, and Axon Enterprise—that together account for the bulk of the fund's disclosed assets. Rather than chasing new names, Helmer has spent recent quarters trimming across nearly all existing positions in names like Amazon, Meta Platforms, CrowdStrike, Tesla, and Taiwan Semiconductor to fund selective additions such as Nu Holdings, reflecting a disciplined bet on companies with durable scale, network, and switching-cost advantages rather than broad diversification.
New Investments
Strategy Capital did not open any new positions during Q2 2026.
Added, Trimmed, and Exited
Added
There were no additions to existing positions this quarter; every holding in Strategy Capital's portfolio saw its share count decrease.
What it means: The absence of any share additions suggests Hamilton Helmer's team was in a purely defensive or profit-taking posture this quarter rather than adding conviction to any single name. This is somewhat unusual for a concentrated, high-conviction fund and may indicate either a broader view that valuations across the portfolio had become stretched, or simply routine trimming to fund a shared, uniform cash need (e.g., redemptions or rebalancing) rather than a change in individual company thesis.
Trimmed
Every position in the portfolio was trimmed by a small, fairly uniform percentage (roughly 2-3% of shares), including Nu Holdings, Shopify, Cloudflare, Datadog, Amazon, Axon, Astera Labs, Taiwan Semiconductor, Meta, CrowdStrike, and Tesla. Despite the share reductions, total portfolio value still rose from about $1.22B to $1.62B, driven by strong price appreciation in names like Astera Labs (+328%), Datadog (+114%), CrowdStrike (+90%), and Taiwan Semiconductor (+37%).
What it means: The near-identical percentage trims across all eleven holdings strongly suggest a pro-rata rebalancing action—likely to manage position sizing after significant appreciation, meet investor redemptions, or maintain target portfolio weights—rather than a change in conviction on any specific company. The fact that the fund let winners like Astera Labs and Datadog run (only trimming ~3% of shares despite triple-digit returns) while still holding onto laggards such as Nu Holdings and Meta at similar trim ratios indicates that Strategy Capital is not actively rotating out of underperformers, reinforcing the idea that these are firm-wide capital adjustments rather than individual re-underwriting decisions.
Exited
There were no fully liquidated positions this quarter.
What it means: With zero exits and only uniform, modest trims, Strategy Capital demonstrates high conviction and low turnover in its concentrated portfolio, consistent with Hamilton Helmer's "7 Powers" philosophy of holding businesses with durable competitive advantages through periods of volatility rather than reacting to short-term price swings.
Disclaimer: All posts are for informational purposes only. They are NOT a recommendation to buy or sell the securities discussed. Please do your own research and due diligence before investing your money.
