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 Oct 22, 2026
Edgewood Large Cap Growth Composite recorded a net return of -4.16% for the third quarter and -9.20% year-to-date net of fees, underperforming the S&P 500 and Russell 1000 Growth benchmarks. To enhance tactical agility, the strategy adjusted its construction framework by lifting maximum single-stock limits from 8% to roughly 10% and maximum sector exposure to approximately 35%, while moving away from a fixed 22-stock ceiling. Cash flow generation and accelerating portfolio earnings growth remain central pillars amid recent market dispersion. The investment team identifies profound distortions created by index concentration, passive inflows, and speculative momentum, highlighting that unprofitable small-cap equities outperformed profitable peers over the past year. Drawing structural parallels to the internet and mobile revolutions, the investment thesis posits that massive foundational spending on computing infrastructure will inevitably broaden into higher-margin enterprise productivity, catalyzed by artificial intelligence moving rapidly from digital screens into physical automation and robotics. Portfolio activity centered on exploiting temporal dislocations where market prices decoupled from fundamentals. Despite posting ahead-of-consensus revenue growth and raising full-year outlooks, holdings like Axon, TransDigm, and ASML experienced sharp share price pullbacks that management utilized as favorable entry points. Concurrently, long-term investments in high-return compounders such as Nvidia and Eli Lilly exemplify the strategy's commitment to companies funding structural multi-year growth out of operating cash flow.
The strategy invests in a concentrated portfolio of high-return, cash-generative businesses led by disciplined capital allocators, leveraging multi-year horizon arbitrage to acquire durable compounders when short-term market sentiment disconnects from underlying earnings power.
Portfolio management anticipates that artificial intelligence adoption will accelerate across physical automation and industrial applications, allowing high-return compounders to generate substantial value as short-term sentiment reconnects with accelerated corporate earnings.
Moderate Conviction Bullish
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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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