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 |
|---|---|---|---|---|---|---|
Edgewood's Large Cap Growth strategy returned 9.3% net in Q2 2026 but remains down 5.1% for the trailing year, underperforming benchmarks as sector rotations and momentum dynamics dominated fundamentals. The portfolio delivered 31% average year-over-year EPS growth across the last five quarters, accelerating 14 percentage points, yet experienced 16% P/E multiple compression. Management teams responded to cheap valuations with record buybacks, including Fair Isaac's largest-ever $605M program, Netflix's new $25B authorization, and Visa's record $7.9B repurchase. The firm updated its investment framework to increase single position limits from 8% to 10%, allow flexible growth bucket weights, and raise theme caps from 25% to 35%, enabling deeper concentration around high-conviction ideas. Three new holdings—Tesla, Linde, and Amazon—were added to deepen exposure to Physical AI, the firm's core multi-year theme centered on AI proliferation from digital to physical applications including robotaxis, humanoids, and warehouse automation. The portfolio now holds eight names providing Physical AI exposure across an addressable market the firm believes is multiples larger than digital AI. Edgewood maintains conviction that strong fundamentals and attractive valuations will drive long-term shareholder value despite near-term underperformance.
Edgewood maintains a concentrated portfolio of 22 large-cap growth companies positioned around the Physical AI theme, believing AI will proliferate from digital to physical applications over the next few years with an addressable market multiples larger than digital AI, while portfolio companies demonstrate strong earnings growth (31% average YoY) trading at attractive valuations following 16% multiple compression despite fundamentals acceleration.
Edgewood believes portfolio company fundamentals are strong and valuations attractive, with the expectation that strong execution paired with robust earnings growth will continue to create shareholder value over the long term. The firm is laser focused on identifying and investing in businesses best positioned to create shareholder value in a world of accelerating innovation, particularly around the Physical AI theme. The updated portfolio management framework reflects an evolving market structure with an eye towards flexibility and efficiency, though the firm acknowledges this will increase portfolio concentration and volatility.
As of Jul 30, 2026
Lead Portfolio Manager
Moderate Conviction Bullish
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 Edgewood Management 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.
