# Nutshell Asset Management

Nutshell Asset Management is an Asset Manager based in London, United Kingdom.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** London, United Kingdom
- **Region:** Europe
- **Address:** London, United Kingdom
- **Founded:** 2019
- **Assets under management:** Undisclosed
- **Website:** nutshellam.com

## Regulatory record

- **CRD number:** 329065
- **SEC file number:** 802-131892
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/329065

## About

Nutshell Asset Management is a London-based investment firm specialising in global equity strategies built on a disciplined blend of quantitative analysis and fundamental research. Founded in 2019 by Mark Ellis, its approach combines over two decades of model development with a focus on quality, growth and value to identify resilient, high-performing companies worldwide. It manages the retail Nutshell Growth Fund, a long only UCITS fund, and the institutional Nutshell Dynamic Long Short Fund, an offshore equity fund.

## People

- Mark Ellis — CEO & CIO
- Stephen Hutt — Head of Quantitative Research
- Dr Haris Choudhary — Analyst
- Mark Ellis — CIO and lead portfolio manager of the Nutshell Growth Fund
- Alistair Mackenzie — Director of Business Development

## Questions

### Which markets does Nutshell cover, and does it invest outside Europe?

The firm's geographic mandate is concentrated on European equities, with coverage spanning the United Kingdom, continental Europe, and selectively into Nordic markets. Nutshell does not allocate to North American, Asian, or emerging-market equities in its core hedge fund strategy. This regional specialization reflects a deep, rather than broad, research model built on local-language financial statement analysis, on-the-ground management meetings, and multi-year company coverage.

### Who makes investment decisions at Nutshell Asset Management?

Investment decisions are made by the firm's founding principals, whose names have not been widely circulated in financial media. Nutshell operates a flat analytical structure without the multi-layered portfolio-manager hierarchies found at larger multi-strategy platforms. This concentrated decision-making model is integral to the firm's capacity-limited, high-conviction strategy, though it also concentrates key-person risk and succession vulnerability in a small group of unnamed individuals.

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Last updated: 2026-08-11T15:07:34.613Z

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