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 Mar 31, 2026
The investment philosophy of Brass Rat Investments centers on capital deployment into high-quality structural compounders during periods of macro-driven market dislocation, while actively shorting legacy businesses unable to navigate technological transitions. During the first quarter of 2026, the portfolio weathered a historically complex landscape, defined by the dual pressures of a Middle Eastern energy shock and the massive capital demands of the global artificial intelligence infrastructure build-out. Despite a challenging March, the fund experienced a strong recovery during the first week of April, driven by signs of de-escalation in the US-Iran geopolitical conflict, which successfully narrowed its one-month drawdown to -0.99%. Key performance drivers included successful long exits from Teledyne and Knight-Swift, alongside an effective short position in CVS Health. Conversely, disciplined risk management triggered stop-losses on positions in Planet Fitness and Tesla to preserve capital. Moving forward, the fund maintains a constructive posture, prioritizing disciplined execution. Portfolio exposure remains concentrated in high-conviction structural growers like Eaton, Atlassian, Meta, and HEICO to navigate the volatile re-equilibration of the broader market.
Exploiting market inefficiencies created by macro-driven, indiscriminate selling to acquire high-quality structural growers while shorting legacy businesses failing to adapt to rapid technological shifts.
The fund is constructive heading into the next period, viewing macro-driven sell-offs as fertile ground for identifying high-quality long ideas with sound structural fundamentals, while simultaneously targeting legacy companies failing to adapt to the artificial intelligence transition as short candidates.
Moderate Conviction Bullish
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