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
In the third quarter of 2026, the fund generated a net return of 1.35% for its Institutional Class shares (1.26% net for Investor Class), trailing the Russell 1000 benchmark return of 1.80% net. On a year-to-date basis, the Institutional Class delivered 13.99% net of fees versus 12.30% for the benchmark. Relative underperformance during the quarter was primarily driven by stock selection within Information Technology and Utilities, alongside the structural zero-weight allocation to the leading Energy sector. Portfolio beta was maintained at 0.96 with a cash position of 1.04%. Macroeconomic conditions reflected ongoing US economic resilience tempered by renewed monetary tightening and commodity shocks. Persistent consumer spending and corporate earnings growth were countered by Middle East geopolitical unrest that pushed oil past $100 per barrel. The Federal Reserve executed its first interest rate hike since 2023, propelling 10-year Treasury yields above 5% and penalizing rate-sensitive sectors. Meanwhile, market leadership within the artificial intelligence theme broadened from pure-play semiconductor hardware into software applications and cloud infrastructure platforms. Active attribution was anchored by strong stock selection and an underweight position in Industrials, alongside gains in Health Care and Financials. Top individual performance contributors included Gartner, which re-rated following contract value acceleration, and NVIDIA, which benefited from initial shipments of its Vera Rubin platform and strong forward guidance. Conversely, semiconductor capital equipment holdings KLA and Applied Materials detracted significantly amid valuation compression across AI capex beneficiaries, while Meta Platforms detracted on an exclusionary benchmark-underweight basis.
The fund employs a systematic investment process targeting US large-cap companies that are financially sound and positioned to benefit from the global transition to a more sustainable economy.
US corporate earnings growth remains healthy and supportive of market performance, though tighter monetary conditions and elevated energy costs require sustained selectivity across large-cap leaders.
Neutral / Balanced
Market Conviction
Growth Outlook
Risk Appetite
Capital Deployment
Forward Guidance
Language Signal
Perceived Risk
Opportunity Density
Time Horizon
Top Conviction Themes
Key Catalysts
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