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 28, 2026
Fairtree Global Equity Fund posted a net return of 6.44% in the third quarter of 2026, delivering 484 basis points of outperformance against the MSCI ACWI, which advanced 1.60%. The strategy benefited from an underweight stance in cyclical sectors and Industrials in favor of structural Information Technology, Materials, Communication Services, and Financials. Momentum-driven leadership gave way to a broader market advance in July before narrowing again in September, offering a favorable tailwind for the fund's deliberate overweights in value, growth, and quality factors. The global macroeconomic environment was dominated by an energy-driven inflation shock as Brent crude jumped 42% above $100 per barrel following geopolitical escalation in the Middle East. Central banks responded by tightening, with the Federal Reserve lifting rates by 25 basis points to a 3.75%-4.00% target range and Eurozone inflation rising to 3.3%. Despite tightening liquidity and US 10-year Treasury yields reaching 5.29%, accelerating revenue growth among cloud hyperscalers demonstrated tangible returns on artificial intelligence capital expenditures, supporting enterprise software re-ratings. Portfolio activity centered on broadening exposure while reinforcing core technology positions. The fund initiated new positions in Applied Materials, Siemens Energy, British American Tobacco, Goldman Sachs, and AstraZeneca, while rotating memory exposure from Micron Technology to SK Hynix. To fund these entries and manage risk-reward profiles, the manager trimmed Microsoft, Fortinet, Evolution, and Salesforce, and completely exited positions in Thermo Fisher, S&P Global, Capgemini, Bid Corp, and Zoetis.
The fund maintains a valuation-disciplined, style-agnostic, and highly active strategy tilted toward value, growth, and quality compounders while underweighting cyclicals and momentum.
The manager expects broadening equity returns to continue as fundamentals reassert themselves following periods of narrow AI market leadership. Current valuations across several holdings remain attractive relative to underlying business fundamentals.
Moderate Conviction Bullish
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