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 |
|---|---|---|---|---|---|---|
The fund's core thesis emphasizes that while geopolitical and macroeconomic headwinds introduce short-term volatility, long-term market success is driven by resilient economic foundations and adaptation to transformational technologies like artificial intelligence. During the first quarter of 2026, global equity markets experienced a sharp reversal from mid-January highs due to elevated inflation concerns, geopolitical conflicts in the Middle East, and a reassessment of AI-related valuations. Despite these concerns, the manager views the current disruption in software as a rotation risk rather than demand destruction, as demand for AI infrastructure remains robust. Additionally, the US economy is relatively insulated from global energy shocks compared to Europe and Asia. The manager highlights risks such as stagflation and consumer bifurcation, but remains constructive on long-term diversification. The portfolio strategy focuses on maintaining long-term discipline, reassessing asset allocation, and monitoring refinancing risks in private debt markets.
Navigating market volatility requires maintaining long-term discipline, diversifying assets, and distinguishing short-term business model disruption from permanent demand destruction in transformational technologies.
The manager anticipates continued volatility but emphasizes long-term opportunities in artificial intelligence infrastructure, alongside a resilient domestic economy. Close monitoring of private credit and refinancing risks is planned as the Federal Reserve transitions under new leadership.
As of Mar 31, 2026
David Katz serves as Managing Director and Financial Advisor with over 30 years of experience in wealth management, retirement planning, and investment strategy. He holds credentials as Accredited Investment Fiduciary® (AIF®) and Accredited Asset Management Specialist™ (AAMS®). His professional background includes leadership roles at Ameriprise Financial - where he earned the Circle of Success award as a top producer - ING Financial, and Gitterman Wealth Management. He is a published author of two books and holds a bachelor's degree in economics from Brooklyn College along with several securities licenses.
The portfolio strategies we pursue are modeled on those used by elite institutions to help us select a mix of asset classes that closely matches your individual preferences and appetite for risk. As your trusted partner, we help you pursue your goals by constructing, managing and reviewing a broadly diversified portfolio that is fully customized to suit your needs. Meeting your requirements for growth, income or capital preservation - while being mindful of your attitude toward risk - is our objective. The essence of investment management is the management of risks, not the management of returns.
Lead Portfolio Manager
Neutral / Balanced
Market Conviction
An opportunity conviction of 0.40 is assigned. The letter is highly thematic and macro-focused, offering asset allocation advice without specifying single-stock convictions or concentrated portfolio holdings.
Growth Outlook
The manager is scored at 0.60, representing a constructive but cautious outlook. While the letter notes extreme volatility and rising risks like stagflation, it emphasizes that the US economic foundation remains resilient and views tech disruption as a healthy rotation rather than demand destruction.
Risk Appetite
Assigned a 0.50 risk appetite score. The manager suggests this is an appropriate time to revisit asset allocation and risk tolerance, advocating for a balanced and diversified approach without signaling aggressive risk-on or extreme defensive hedging.
Capital Deployment
Scored at 0.50 for capital deployment. The document does not indicate any active deployment of cash or aggressive de-risking, instead focusing on maintaining a disciplined, long-term asset allocation.
Forward Guidance
Scored at 0.50 as the manager is focused on reviewing portfolios and asset allocation with clients rather than executing immediate, aggressive buy or sell strategies in response to the Q1 market pullback.
Language Signal
The language signal is scored at 0.55. The text balances optimistic phrases regarding AI infrastructure demand and US resilience against heavy risk language concerning stagflation, geopolitical conflicts, and private credit risks.
Perceived Risk
Perceived risk is scored at 0.70, reflecting significant awareness of active macro risks including Middle East tensions, energy price shocks, private credit refinancing hurdles, and lower-income consumer spending strain.
Opportunity Density
Assigned a 0.50 score for opportunity density. The manager highlights strong ongoing demand in AI-adjacent infrastructure and hardware, but notes that broader markets are experiencing valuation reassessments and rotation risks.
Time Horizon
The time horizon score is 0.75, matching the manager's consistent emphasis on long-term financial objectives, patience, and waiting out intermediate-term geopolitical and macroeconomic volatility.
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.
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