Ep 201: Nikki Thomas - The Power of Focus: Running a 20-Stock Global Portfolio
Update: 2025-07-21
Description
In this episode of Inside the Rope, David Clark is joined by Nikki Thomas, one of Australia's most respected global equity investors and the current Portfolio Manager of Magellan’s High Conviction Fund. After a period of significant change at Magellan, Nikki’s return to the firm marks a powerful reconnection with its founding principles—absolute returns, deep research, and a commitment to global quality.
With over two decades of experience and foundational roles at both Magellan and Alphinity, Nikki unpacks her high-conviction investment philosophy and explains why the core Magellan approach — compounding capital through structural moats and disciplined valuation — remains unchanged despite market noise.
In a candid and wide-ranging conversation, David and Nikki explore:
* How she builds a concentrated portfolio of 10–20 global leaders
* The role of AI, robotics, and digitalisation in shaping long-term investment themes
* The outlook for key holdings including Novo Nordisk, Visa, and Microsoft
* How Magellan is evolving from a founder-led boutique to an institutional investment house
* Her return to the firm and the strategic pivot under new leadership
This episode offers rare insight into one of Australia’s top investment minds at a pivotal moment for Magellan and global capital markets. A must-listen for high-net-worth investors seeking clarity, conviction, and access to the type of global opportunities that sit beyond Australia’s borders.
With over two decades of experience and foundational roles at both Magellan and Alphinity, Nikki unpacks her high-conviction investment philosophy and explains why the core Magellan approach — compounding capital through structural moats and disciplined valuation — remains unchanged despite market noise.
In a candid and wide-ranging conversation, David and Nikki explore:
* How she builds a concentrated portfolio of 10–20 global leaders
* The role of AI, robotics, and digitalisation in shaping long-term investment themes
* The outlook for key holdings including Novo Nordisk, Visa, and Microsoft
* How Magellan is evolving from a founder-led boutique to an institutional investment house
* Her return to the firm and the strategic pivot under new leadership
This episode offers rare insight into one of Australia’s top investment minds at a pivotal moment for Magellan and global capital markets. A must-listen for high-net-worth investors seeking clarity, conviction, and access to the type of global opportunities that sit beyond Australia’s borders.
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