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 Jun 30, 2026
A secular rotation toward small-cap equities has commenced as historical valuation discounts and robust fundamental earnings growth converge to initiate what is poised to be a small-cap decade. During the second quarter of 2026, the strategy generated an absolute gross return of 22.6%, trailing its benchmark due to an explosive market rally favoring low-quality, unprofitable, and high-beta securities. Security selection detracted across healthcare and technology holdings, while active overweights in industrials, materials, and financial services generated positive contributions. The strategy maintains a disciplined portfolio construction anchored in lower market sensitivity, superior profitability metrics, stable earnings growth, and modest relative valuations. Although speculative momentum currently rewards lower-quality market segments, accelerating earnings revisions and 25-year-low valuation multiples versus large caps create an exceptional multi-year backdrop. By deliberately avoiding unprofitable high-beta names, the portfolio remains positioned to capture durable risk-adjusted compound returns as market leadership shifts back toward profitable, high-return businesses.
The extreme valuation disparity and market concentration favoring mega-caps have broken, setting the stage for a multi-year small-cap renaissance driven by superior earnings growth and quality business fundamentals.
Sawgrass posits that the long-awaited 'small-cap decade' has arrived as linchpins of large-cap dominance—including extended cycle duration, mega-cap concentration, and wide valuation discounts—reach an inflection point. In the coming 3 to 10 years, small-cap equities are anticipated to generate historical appreciation, with quality-oriented, low-volatility, and stable-growth portfolios exceptionally well positioned to outperform.
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 – Small 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.