Analytics · Regions · Q4 2025 · 159 letters

Where hedge funds see opportunity

The US still dominates coverage, but on sentiment, managers are often more confident about opportunity outside domestic markets. Browse aggregated regional exposure and manager commentary below.

14 regions159 letters

The big four, plus emerging markets

Global

87 letters

83 funds · avg outlook -0.44

7 bull6 neut33 bear

View all Global commentary →

Asia

40 letters

40 funds · avg outlook -0.31

4 bull2 neut10 bear

View all Asia commentary →

Europe

32 letters

32 funds · avg outlook -0.18

5 bull1 neut7 bear

View all Europe commentary →

United States

0 letters

0 funds · avg outlook —

0 bull0 neut0 bear

View all United States commentary →

Emerging Markets

0 letters

0 funds · avg outlook —

0 bull0 neut0 bear

View all Emerging Markets commentary →

Smaller regions (take thin data with a grain of salt)

Slice the same letters differently

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How we built this page

Mapping regions. Every letter is tagged with the geographies its exposure covers. We collapse 30+ raw variant strings into 14 canonical categories for comparative accuracy.

About sentiment.The bullish/bearish classification reflects the source letter's overall market posture. Region-specific sentiment extraction is currently on the development roadmap.

Volume note. Regions with fewer than 10 letters should be treated as directional signal rather than absolute consensus.