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 Apr 9, 2026
FCL Opportunities seeks absolute returns in US dollars by deploying capital across global public equities with a distinct barbell structure balanced between developed markets and emerging markets. During the first quarter of 2026, the fund fell 3.05% net of fees in US dollar terms and declined 8.61% net of fees in Brazilian reais, driven by sharp foreign exchange appreciation in the Brazilian real and severe geopolitical volatility sparked by the US-Israel military conflict with Iran. The fund outperformed major US equity benchmarks such as the S&P 500 and Nasdaq due to an intentional underweight in US large-cap technology and structural allocations to Europe, China, Brazil, and India. Near quarter-end, an agreed ceasefire between the US and Iran catalyzed an aggressive market rebound. Portfolio liquidity remains strong with 15.36% held in cash as management prepares to launch the unconstrained Senlimaj vehicle to pursue asymmetric, uncorrelated long-term opportunities across public and private markets.
Deliver superior long-term absolute returns by pursuing uncorrelated, asymmetric global opportunities across emerging and developed markets while unconstrained by traditional benchmarks.
Management anticipates that the long-term trend of Brazilian real depreciation against the US dollar will resume, providing a structural tailwind to fund returns in local currency. The firm remains committed to its balanced allocation between developed (55%) and emerging (45%) markets while underweighting large-cap US equities. Furthermore, management is positioning for the formal launch of the Senlimaj Fund in 2026, which will serve as its primary flagship investment vehicle designed to operate unconstrained across public and private markets.
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 FCL Opportunities FIA IE 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.