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 Sep 30, 2024
Mar Vista's Strategic Growth strategy returned 5.49% net in Q3 2024, outperforming the Russell 1000 Growth Index. The portfolio benefited from strong performance in American Tower, TransDigm, and Apple, while facing headwinds from Alphabet, Microchip Technology, and Microsoft. The quarter saw significant portfolio activity with new investments in AMETEK, Stryker, and Unilever, while completely exiting Fortive and Nike. The market demonstrated broadening beyond technology, with utilities and real estate leading performance. Key themes included the Federal Reserve's rate cutting cycle benefiting REITs, continued strength in global travel supporting aerospace, and mixed sentiment around AI spending. The manager maintains an optimistic outlook based on historical patterns of strong market starts, supported by the easing monetary cycle and broadening market participation. The investment approach remains focused on businesses with durable competitive moats capable of compounding intrinsic value across economic cycles, balancing technological innovation opportunities with disciplined valuation considerations.
Focus on businesses with strong competitive moats that can compound intrinsic value across various economic conditions, balancing AI technological innovation opportunities with long-term value-accretive philosophy.
Optimistic based on historical trends, with years having strong starts often finishing higher. The market's proven resilience offers hope for continued strength, supported by the beginning of an easing cycle and broadening market participation beyond technology stocks.
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
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