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 6, 2026
Ennismore European Smaller Companies Fund is managed as an absolute return strategy aimed at generating positive returns across European small caps irrespective of broader market conditions. In September 2026, the fund returned -0.8% net of fees, with performance weighed down by the long portfolio costing 2.2%, partially offset by short positions generating 1.4%. Year-to-date net performance stands at -3.1% net of fees. Portfolio gross exposure concluded at 132.3% with net exposure trimmed slightly to 59.7% across 161 long and 113 short positions. Activity remained elevated as the fund initiated 35 new long positions and 12 shorts during the month. Manager commentary featured a deep dive into XP Power Limited, a 2.0% NAV holding positioned to benefit from a semiconductor equipment order rebound, margin recovery post-China exit, and high-voltage co-design solutions. Potential risks cited include historical post-COVID inventory destocking and supply chain friction, balanced against strong multi-year operating leverage.
Generate absolute positive returns across market cycles through deep fundamental long/short equity investing in European smaller companies.
Neutral / Balanced
Market Conviction
Growth Outlook
Risk Appetite
Capital Deployment
Forward Guidance
Language Signal
Perceived Risk
Opportunity Density
Time Horizon
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