Emerald Wealth Partners’ strategy highlighted Fortinet in its Q2 2026 letter, saying the company beat expectations on results and outlook and citing Fortinet’s view that AI is intensifying cyber threats. The strategy returned 17.5% net, versus 19.0% for its benchmark.
The strategy said its overweight positions in semiconductors, cybersecurity and communications drove returns. It said gains were concentrated in semiconductor-equipment and memory-chip companies, while software stocks faced pressure over AI-disruption concerns. The letter also flagged risks from AI-related market excesses, debt financing and speculative activity.
Emerald’s letter said some investors feared AI tools could displace traditional cybersecurity firms, but cited recent results and Anthropic’s enlistment of major cybersecurity companies as Glasswing partners to argue that leading firms may play a larger role in cyber defense. Fortinet closed at $178.74 on Sept. 23, 2026, and gained 114.81% over the prior 52 weeks.
