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
ValueWorks generated a net return of 21.14% for the second quarter of 2026, substantially outpacing the S&P 500 Total Return index return of 15.20% and extending its one-year net return to 54.76%. The portfolio structure maintains strict risk containment through targeted position sizing of 3% to 5% across 25 to 35 individual investments, entering assets at an estimated 25% to 50% discount to intrinsic value. The broader market regime reflects an ongoing technological boom characterized by heavy investment in artificial intelligence, cloud data centers, and advanced computing breakthroughs. However, visceral market gyrations, heightened intraday price volatility, and widening political extremism signal the necessity for rigorous valuation discipline rather than unconstrained momentum chasing. Portfolio management activity centered on taking profits and managing downside risk by scaling back outperforming winners such as Micron Technology or exiting full positions where risk-reward deteriorated. Concurrently, the manager reallocated capital into unappreciated turn-around opportunities, initiating a major new position in Honeywell to capture commercial recovery alongside embedded upside in quantum computing.
ValueWorks aims to build concentrated portfolios of high-quality businesses purchased at 50 to 75 cents on the dollar, holding positions through a one-to-two-year horizon until market re-appraisal closes the intrinsic valuation discount.
The investment boom driven by transformative technologies like artificial intelligence is expected to persist, yet long-term success requires disciplined re-allocation toward out-of-favor turnaround businesses trading at meaningful discounts.
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