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 |
|---|---|---|---|---|---|---|
Seven Corners Capital executes an ultra-concentrated, long-term value strategy anchored in fundamental mispricings, corporate turnarounds, and structural discount arbitrage. During the first half of 2026, the equity portfolio declined approximately 8 percent, lagging the S&P 500, but maintained substantial long-term cumulative outperformance since 2020. Portfolio performance was impacted by the widening net asset value discount at Pershing Square Holdings and pullbacks in Turning Point Brands and Rocket Companies, partially offset by positive contributions from Genworth Financial and Instacart. The manager emphasizes minimal portfolio turnover and patient capital deployment, maintaining an eighty percent concentration across its top six equity positions. Primary operational and market risks highlighted include regulatory scrutiny in online grocery algorithms, legal appeals surrounding mortgage insurance litigation recoveries, and commodity cyclicality across upstream energy assets. The fund remains fully committed to its core holdings, anticipating that ongoing corporate share repurchases, corporate restructuring, and accretive platform acquisitions will steadily drive intrinsic value realization.
Achieve superior long-term compound returns by taking concentrated, high-conviction positions in durable compounders and sum-of-the-parts value disconnects while practicing patient, low-turnover ownership.
The manager anticipates that corporate share repurchases across core discounted holdings, strategic M&A synergies, and steady free cash flow generation will drive long-term portfolio appreciation despite short-term market noise.
As of Sep 8, 2026
Scott Klarquist is the Founder and Chief Investment Officer of Seven Corners Capital Management. Mr. Klarquist began his career as a corporate attorney at several New York law firms, with his last position at Dentons LLP. He holds both a B.A. and a J.D. from the University of Virginia. After making investments for his personal portfolio between 2007 and 2016, Mr. Klarquist founded Seven Corners Capital in order to conduct professional investment research and management activities full time. His legal background provides the firm with strong corporate governance expertise, which is evident in their activist investing approach across multiple portfolio companies.
Seven Corners Capital aims to achieve investment returns by identifying companies with wide competitive moats and honest and able management, trading at reasonable valuations. The firm also focuses on turnaround and asset play opportunities and special situations such as mergers, spinoffs and liquidations that provide attractive returns which are non-correlated to the broader equity markets. The firm was founded to conduct deep diligence investing based on a margin of safety in order to generate alpha, with the hope and expectation to achieve annual returns approximately 10% above that of the S&P 500 on a long-term basis. Their investment style is characterized by patience and concentration, embracing Warren Buffett's philosophy that lethargy, bordering on sloth, remains the cornerstone of their investing style.
Lead Portfolio Manager
High Conviction Bullish
Market Conviction
A conviction score of 0.90 reflects an ultra-concentrated portfolio where the top six positions account for 80% of total assets under management, led by a 25.6% allocation to Pershing Square Holdings. The manager explicitly maintains positions held for nearly a decade and embraces Warren Buffett's philosophy of investing bordering on sloth.
Growth Outlook
Market outlook is scored at 0.55, representing a neutral to modestly constructive stance that avoids broad macro prognostications. The manager notes secular inflation benefits for energy and favorable consumer adoption trends while remaining largely indifferent to general index direction.
Risk Appetite
A risk appetite score of 0.78 is driven by the fund's eighty percent concentration in equity risk assets, paired with exposure to complex sum-of-the-parts situations and cyclical energy producers. The manager does not employ significant defensive hedging.
Capital Deployment
Capital deployment scores 0.50 as the fund remains in a steady holding pattern with stable allocations across existing top holdings. Cash levels and new gross portfolio additions were not actively expanded during the reported period.
Forward Guidance
Forward guidance is scored at 0.50 because the fund operates on an inactive sloth strategy with no stated plans to make immediate wholesale capital reallocations. Guidance primarily reflects patient observation of corporate share repurchases and strategic M&A execution.
Language Signal
The language signal scores 0.68 due to prevailing constructive terminology describing businesses as high-quality compounders with growing revenues and discounted valuations. While regulatory inquiries and legal appeals are highlighted, the overall tone remains fundamentally optimistic.
Perceived Risk
Perceived risk scores 0.42 based on moderate micro and regulatory risk disclosures, including FTC pricing algorithm probes and appellate court proceedings. The manager treats these as short-term noise rather than systemic economic threats.
Opportunity Density
An opportunity density score of 0.45 reflects a very selective, sparse opportunity set consistent with a multi-year low-turnover portfolio. The fund relies on a small circle of familiar names rather than initiating numerous new positions.
Time Horizon
A time horizon score of 0.92 is justified by explicit decade-scale multi-year views, such as investments initiated in 2016 and 2018, seven-year convertible preferred structures, and a declared commitment to lethargy and sloth.
Top Conviction Themes
Key Catalysts
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