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 Aug 25, 2026
Global equities rebounded strongly in Q2 2026 after a difficult first quarter, with the MSCI World returning 13.8% as Iran conflict tensions eased and oil prices retreated from April peaks above $100 per barrel. Factor performance was dominated by Momentum, which posted one of its strongest quarters since the dot-com era, outperforming by over 30% in the US and more than 40% in Emerging Markets. Value also outperformed across regions, though this was largely driven by heavy semiconductor allocations in MSCI Enhanced Value indices rather than broad-based Value leadership. The AI capital expenditure story reasserted itself as hyperscalers lifted 2026 guidance, drawing investors back into technology. Quality continued its three-year underperformance as investors favored lower-quality, less profitable companies, though historical analysis suggests 82% probability of recovery over the next three years. Looking ahead, WisdomTree remains constructive on equities despite stretched valuations, a hawkish Fed under new Chair Kevin Warsh, and elevated momentum dispersion. Broader factor diversification and valuation discipline appear increasingly important, with opportunities emerging in Quality and dividend-paying stocks.
Q2 2026 saw a decisive shift in factor leadership as geopolitical tensions eased and AI capital expenditure reasserted itself, with Momentum posting one of its strongest quarters since the dot-com era while Quality's three-year underperformance may now present a mean-reversion opportunity.
WisdomTree remains constructive on equities for the second half of 2026, although the period could be bumpier. Earnings breadth is improving and recession risk remains low, yet stretched valuations, a hawkish Warsh-led Fed, and stretched momentum dispersion leave little room for error. Against this backdrop, broader factor diversification and greater valuation discipline look increasingly important. If market leadership continues to broaden beyond the AI mega caps, EM Growth stocks could benefit, while the prolonged underperformance of Quality may create recovery opportunities.
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