The curated database of hedge funds that publish investor letters. Research by geography, strategy, and schools of thought.
| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Aug 10, 2026
The Bailard International Equity Strategy returned 13.52% net in Q2 2026, outperforming the MSCI EAFE Index's 10.82% gain, driven primarily by country allocation. Markets rebounded sharply as Middle East tensions de-escalated following a US-Iran memorandum, though the truce proved fragile and broke down by July. The AI investment theme reemerged as the dominant driver, with US hyperscalers raising 2026 capex guidance to roughly $700 billion and EAFE's Information Technology sector surging 55.1%. Country allocation contributed 240 bps versus EAFE, led by overweights to Korea (+233 bps, country index +87.6%) and Taiwan (+47 bps, +48.9%), where semiconductor manufacturers benefited from AI-related demand. Japanese semiconductor-supply-chain holdings including Murata Manufacturing, Screen Holdings, and Tokyo Electron led stock selection. Energy lagged at -17.0% as oil prices retreated. The managers maintain their disciplined, all-weather approach remains well-suited to navigate shifting market narratives, viewing current volatility as one chapter in a broader story of non-US equity resilience.
The Bailard International Equity Strategy employs an all-weather approach combining quantitative country and stock evaluation with fundamental insight to identify opportunities across developed and emerging markets while maintaining balanced risk.
The month of July has shown how quickly market narratives can shift, with the US-Iran agreement breaking down and AI beneficiaries facing mounting pressure as investors demand stronger fundamentals to justify valuations. The managers believe their all-weather approach — blending quantitative country and stock evaluation with fundamental oversight — remains well-suited to navigate these twists and turns. They expect this discipline to remain critical for the quarters and years ahead, viewing today's environment as one chapter within a broader, ongoing story of resilience for non-US equities.
Neutral / Balanced
Market Conviction
Growth Outlook
Risk Appetite
Capital Deployment
Forward Guidance
Language Signal
Perceived Risk
Opportunity Density
Time Horizon
Top Conviction Themes
Key Catalysts
Every insight in this database connects to the original source. Read the actual thesis, see the actual concerns, and make your own call.
Buyside Digest has no business relationship, partnership, agency, sponsorship, endorsement, or affiliation with Bailard International Equity Strategy or any other manager whose content appears on the Service, except where expressly stated. We do not receive Manager Content directly from managers in most cases; content is collected from publicly available sources. Managers have not necessarily reviewed, approved, authorized, or endorsed our display of their content, our editorial commentary, our metadata extraction, or our classifications. Use of a manager’s name is for accurate attribution and identification purposes only, under principles of nominative fair use.
Buyside Digest does not independently verify the regulatory status, registrations, licensing, qualifications, credentials, or professional standing of managers whose content appears on the Service. We do not represent that managers are properly registered with applicable regulatory bodies, that their content complies with applicable securities laws, or that their performance representations are accurate. Inclusion of a manager in our database is based on the publicly available nature of their content, not on our verification of their regulatory status or content compliance. Users are responsible for conducting their own due diligence on any manager.
Performance data, returns, assets under management (“AUM”), and similar figures displayed on this page are sourced from publicly available manager communications (including investor letters), public filings, or other third-party sources. Buyside Digest does not independently verify performance figures, calculate returns, or audit manager-reported data. Such figures: May be selectively reported by the manager; May use non-standard calculation methodologies; May not reflect fees, expenses, taxes, or other costs; May be inconsistent across reporting periods; May be outdated. Past performance is not indicative of future results. Performance figures should not be relied upon for investment decisions without independent verification. Users should request audited performance data directly from the manager and conduct their own due diligence.