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 |
|---|---|---|---|---|---|---|
In 4Q25, the growth market gained 1.1% amid concerns over the Fed, economic stability, and the return on massive AI spending. The Sawgrass Large Cap Quality Growth portfolio outperformed, returning 3.2% (beating the Russell 1000 Growth Index by 2.1%). Strong contributors included non-Mag7 tech stocks (AMD, Applied Materials) and healthcare picks (Eli Lilly, United Therapeutics, Danaher) as market rotation broadened. Conversely, performance was hampered by weakness in defensive stocks (AutoZone, Comcast, Zoetis) and software names (ServiceNow, Workday) impacted by fears of AI-driven threat to subscription models. Looking forward, with the S&P 500 trading at an elevated forward P/E of 22.1, the manager expects a shift in 2026 towards fundamental earnings delivery and balance-sheet strength, which should benefit the fund's quality-focused positioning.
Long-term outperformance is achieved by positioning the portfolio in attractively valued, high-quality companies with strong balance sheets and solid earnings delivery, particularly as the market transitions away from momentum-driven trades and multiple expansion toward fundamental business strength.
Following three consecutive years of double-digit market gains, forward S&P 500 valuations are historically elevated at 22.1x forward P/E. As the momentum trade cools, market returns in 2026 are expected to become more dependent on fundamental earnings delivery and balance-sheet strength rather than multiple expansion or macro-driven optimism, setting up attractively valued high-quality companies to perform well.
As of Dec 31, 2025
Portfolio Manager and primary investment lead for Sawgrass Asset Management - Large Cap Quality Growth.
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
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 Sawgrass Asset Management - Large Cap Quality Growth 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.
