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 27, 2026
Right Tail Capital did not disclose specific net quarterly or year-to-date performance figures in its Q3 2026 investor letter, referring clients to individual account statements. The letter reflects an open-minded examination of broad technological disruption, with the manager re-evaluating long-term positioning and discipline in the face of structural market shifts rather than reacting to short-term price fluctuations. The manager focuses on the accelerating pace of artificial intelligence development, highlighting how rapid agentic software advancements could fundamentally reshape productivity, knowledge work, and enterprise economics. While acknowledging the broad market rally driven by perceived AI beneficiaries, the discussion emphasizes that extraordinary technological demand does not automatically translate into durable capital returns, warning that heavy capital expenditures can depress returns on invested capital. From a portfolio construction perspective, Right Tail has maintained limited direct exposure to explicit AI beneficiaries aside from Alphabet, with core holdings comprised of durable businesses continuing to generate steady earnings growth. Moving forward, the manager plans to monitor incumbent holdings for vulnerability to AI disruption, remain receptive to owning resilient beneficiaries, and seek out established enterprises that effectively deploy AI to widen their existing competitive moats.
Right Tail Capital invests in high-quality businesses with durable competitive advantages, capable management, attractive reinvestment opportunities, and strong balance sheets that support long-term compounding.
The manager expects the portfolio to evolve by screening against AI disruption risks, considering durable AI beneficiaries, and selectively investing in established companies that use AI to expand competitive moats.
Neutral / Balanced
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