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 |
|---|---|---|---|---|---|---|
We don't track every hedge fund, only the ones who publish letters to their investors. Their writeups are the highest-signal reading in finance, and we've collected thousands in one searchable hedge fund letters database.
| # | Fund ↕ | Strategy | Style | Geo | AUM ↕ | QTD ↕ | YTD ↕ | SI ↕ | Latest Letter ↓ |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Third Point Partners Daniel S. Loeb Hedge Fund | Large Cap | Quality Compounder | Asia | Undisclosed | +7.7% | N/A | +13.2% | Q2 2026 Letter → |
| 2 | Greenlight Capital Greenlight Capital, Inc. Hedge Fund | Small Cap | Quality Compounder | US | $2.5B | -4.3% | +1.9% | +12.7% | Q2 2026 Letter → |
| 3 | Horizon Kinetics Murray Stahl Hedge Fund | Mid Cap | Quality Compounder | US | $10.4B | N/A | N/A | N/A | Q2 2026 Letter → |
| 4 | DKAM Donville Kent Asset Management Jason & Jesse Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | N/A | N/A | +45.3% | Q2 2026 Letter → |
| 5 | Goehring & Rozencwajg Associates, LLC Leigh R. Goehring Hedge Fund | Small Cap | Quality Compounder | Global | Undisclosed | N/A | N/A | N/A | Q2 2026 Letter → |
| 6 | Robotti Value Investors Bob Mutual Fund | Smid Cap | Quality Compounder | US | $707.6M | N/A | N/A | N/A | Q2 2026 Letter → |
| 7 | Evolve Private Wealth Razmig Der-Tavitian Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | N/A | N/A | N/A | Q3 2026 Letter → |
| 8 | Alpinum Investment Management Hedge Fund | Large Cap | Global Macro | Emerging Markets | Undisclosed | N/A | N/A | N/A | Q3 2026 Letter → |
| 9 | Baillie Gifford -International Growth Thomas Coutts / Brian Lum / Julia Angeles / Lawrence Burns / Robert Wilson Hedge Fund | Small Cap | Quality Compounder | Global | Undisclosed | -0.9% | +3.4% | +8.4% | Q3 2026 Letter → |
| 10 | Baillie Gifford -Emerging Markets Andrew Stobart / Mike Gush / Ben Durrant Hedge Fund | Small Cap | Quality Compounder | Emerging Markets | Undisclosed | -4.5% | +23.6% | +10.9% | Q3 2026 Letter → |
| 11 | Baillie Gifford - International Alpha Donald Farquharson / Tom Walsh / Roderick Snell / Jenny Davis / Chris Davies / Steve Vaughan Hedge Fund | Mid Cap | Quality Compounder | Global | Undisclosed | +1.0% | +9.0% | +7.5% | Q3 2026 Letter → |
| 12 | Baillie Gifford -Global Alpha Michael Taylor Advisory / Asset Manager | Public Equity, Growth Stocks, Large Cap, Mid Cap | Growth | Europe | $4.4B | -0.9% | +2.0% | +10.2% | Q3 2026 Letter → |
| 13 | Harbor Mid Cap Value Fund Josef Lakonishok, Menno Vermeulen, Puneet Mansharamani, Greg Sleight, Guy Lakonishok, Gal Skarishevsky Hedge Fund | Small Cap | Quality Compounder | US | $400.3M | -3.0% | +12.8% | +10.5% | Q3 2026 Letter → |
| 14 | Harbor Capital Appreciation Fund Kathleen A. McCarragher, Blair A. Boyer, Natasha Kuhlkin Advisory / Asset Manager | Large Cap | Quality Compounder | US | $28.6B | +4.9% | +9.7% | +12.7% | Q3 2026 Letter → |
| 15 | Antipodes Global Fund Antipodes Partners Limited Hedge Fund | Large Cap | Quality Compounder | Asia | $21.0B | N/A | N/A | N/A | Q3 2026 Letter → |
| 16 | Vulcan Value Partners - Small Cap C.T. Fitzpatrick Hedge Fund | Smid Cap | Quality Compounder | US | Undisclosed | -1.2% | +4.3% | +7.3% | Q3 2026 Letter → |
| 17 | Vulcan Value Partners - Large Cap C.T. Fitzpatrick Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | +7.4% | +1.0% | +9.3% | Q3 2026 Letter → |
| 18 | Vulcan Value Partners - Focus Plus Vulcan Value Partners LLC Mutual Fund | Public Equities, Options Strategies | Value | US | $6.9B | +8.8% | -2.7% | +12.1% | Q3 2026 Letter → |
| 19 | Vulcan Value Partners - Focus Vulcan Value Partners, LLC Advisory / Asset Manager | Public Equity, Cash Equivalents | Value | Asia | $6.9B | +8.9% | -2.7% | +12.6% | Q3 2026 Letter → |
| 20 | Vulcan Value Partners - All Cap C.T. Fitzpatrick Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | +7.5% | +1.3% | +9.8% | Q3 2026 Letter → |
| 21 | Diversified Financial Management Institutional Team Mutual Fund | Small Cap | Quality Compounder | US | Undisclosed | N/A | N/A | N/A | Q3 2026 Letter → |
| 22 | City Different Investments - Global Equity Vinson Walden Hedge Fund | Small Cap | Quality Compounder | Global | Undisclosed | -1.2% | +4.1% | +16.9% | Q3 2026 Letter → |
| 23 | Columbia Dividend Opportunity Fund Columbia Management Investment Advisers, LLC Hedge Fund | Large Cap | Quality Compounder | US | $2.2B | -0.6% | N/A | +10.8% | Q3 2026 Letter → |
| 24 | Columbia Seligman Global Technology Fund Columbia Management Investment Advisers, LLC Hedge Fund | Small Cap | Quality Compounder | Global | $3.2B | -0.6% | N/A | +26.7% | Q3 2026 Letter → |
| 25 | The Heptagon Future Trends Fund Alex Gunz Hedge Fund | Small Cap | Quality Compounder | Global | Undisclosed | -8.6% | +14.5% | N/A | Q3 2026 Letter → |
| 26 | Arquitos Capital Management Steven Kiel Hedge Fund | Small Cap | Quality Compounder | US | $2.6M | -51.9% | -26.5% | +11.3% | Q3 2026 Letter → |
| 27 | Rowan Street Capital Alex Kopel Hedge Fund | Small Cap | Quality Compounder | US | $2.1M | +11.0% | -12.2% | +6.5% | Q3 2026 Letter → |
| 28 | Praetorian Capital Management Harris "Kuppy" Kupperman Hedge Fund | All Cap | Deep Value | US | $291.7M | -0.3% | +11.0% | +41.8% | Q3 2026 Letter → |
| 29 | NZS Capital - Growth NZS Capital, LLC Hedge Fund | Long Equity, Growth Equity, Technology Focused | Growth | Global | $4.0B | -0.8% | +12.8% | +16.7% | Q3 2026 Letter → |
| 30 | White Falcon Capital Management Balkar Sivia, CFA Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | +2.7% | +4.6% | +24.0% | Q3 2026 Letter → |
| 31 | Angel Oak High Yield Opportunities ETF Sreeni Prabhu Mutual Fund | Small Cap | Quality Compounder | US | $123.1M | -1.2% | +1.1% | +7.4% | Q3 2026 Letter → |
| 32 | Angel Oak Multi-Strategy Income Fund Sreeni Prabhu, Namit Sinha, Clayton Triick, Kin Lee Hedge Fund | Fixed Income, Mortgage-Backed Securities, Asset-Backed Securities, Credit Securities | Global Macro | US | $2.7B | -1.3% | +1.3% | +4.5% | Q3 2026 Letter → |
| 33 | The London Company Small Cap The London Company of Virginia, LLC Mutual Fund | Small Cap | Quality Compounder | Europe | $33.0B | -2.5% | +7.6% | +11.1% | Q3 2026 Letter → |
| 34 | The London Company Large Cap Brian Campbell Hedge Fund | Small Cap | Quality Compounder | Europe | Undisclosed | -3.4% | +9.5% | +10.6% | Q3 2026 Letter → |
| 35 | The London Company Income Equity Brian Campbell Hedge Fund | Small Cap | Quality Compounder | Europe | Undisclosed | -3.6% | +12.6% | +8.7% | Q3 2026 Letter → |
| 36 | The London Company Small Mid Cap The London Company of Virginia, LLC Family Office / Individual | Equity, Small-Cap, Mid-Cap | Value, Quality, Conservative, Low Beta | Europe | $16.0B | -4.1% | +3.3% | +12.0% | Q3 2026 Letter → |
| 37 | Alger Spectra Fund Patrick Kelly, Dan Chung, Ankur Crawford Advisory / Asset Manager | Small Cap | Quality Compounder | US | $3.9B | +0.3% | +11.7% | +16.0% | Q3 2026 Letter → |
| 38 | Driehaus Small/Mid Cap Growth Fund Jeffrey James Hedge Fund | Mid Cap | Quality Compounder | US | $88.3M | -16.8% | +2.6% | +14.2% | Q3 2026 Letter → |
| 39 | Driehaus Micro Cap Growth Strategy Jeff James, Michael Buck Hedge Fund | Small Cap | Quality Compounder | Asia | $2.9B | -14.3% | +15.3% | +20.6% | Q3 2026 Letter → |
| 40 | Driehaus Small Cap Growth Fund Jeff James Mutual Fund | Small Cap | Quality Compounder | US | $1.1B | -14.6% | +7.2% | +16.9% | Q3 2026 Letter → |
| 41 | Artisan Partners Small Cap Fund Jay Warner Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | -9.8% | +10.7% | +9.2% | Q3 2026 Letter → |
| 42 | Ironvine Capital Partners The Ironvine Investment Team Family Office / Individual | Large Cap | Quality Compounder | US | Undisclosed | N/A | +10.0% | +11.3% | Q3 2026 Letter → |
| 43 | Cambiar SMID Fund Ania A. Aldrich Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | -5.5% | +10.5% | +8.7% | Q3 2026 Letter → |
| 44 | Cambiar International Equity Fund Institutional Team Hedge Fund | Small Cap | Quality Compounder | Global | Undisclosed | +1.0% | +2.6% | +6.7% | Q3 2026 Letter → |
| 45 | Harding Loevner Global Small Companies Equity Christopher Mack Hedge Fund | Small Cap | Quality Compounder | Global | Undisclosed | -1.3% | +5.9% | +8.2% | Q3 2026 Letter → |
| 46 | Harding Loevner International Small Companies Equity Jafar Rizvi Hedge Fund | Small Cap | Quality Compounder | Europe | Undisclosed | +3.8% | +9.3% | +6.8% | Q3 2026 Letter → |
| 47 | Third Avenue Small Cap Value Fund Matthew Fine, CFA and Jason Wolf, CFA Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | -3.4% | +17.7% | +9.1% | Q3 2026 Letter → |
| 48 | Sands Capital Select Growth Fund Wesley A. Johnston, Thomas H. Trentman, Benjamin H. Betcher Hedge Fund | Small Cap | Quality Compounder | Global | $45.2B | -0.2% | +7.0% | +12.3% | Q3 2026 Letter → |
| 49 | Sands Capital International Growth Fund David E. Levanson, CFA and Danielle J. Menichella, CFA Hedge Fund | Small Cap | Quality Compounder | Emerging Markets | Undisclosed | -2.6% | -1.4% | +7.1% | Q3 2026 Letter → |
| 50 | Sands Capital Global Growth Fund Brian A. Christiansen, David E. Levanson, Daniel Pilling Hedge Fund | Large Cap | Quality Compounder | Global | $59.0B | -1.9% | +2.0% | +14.3% | Q3 2026 Letter → |
Rankings reflect the most-tracked managers on Buyside Digest over the trailing 90 days, weighted by letter reads, profile follows, and pitch engagement. This isn't a ranking by AUM or performance; it is a measure of which managers sophisticated readers are paying attention to right now. Updated weekly.
A short reader's guide to the database. Tap any heading to expand.
There are roughly 9,000 hedge funds operating globally, managing somewhere north of $4 trillion in assets. Most of them communicate with their limited partners through quarterly conference calls, private capital calls, and one-line "we were up X percent" updates. They don't publish.
The 1,106+ managers we track here are the exception: they write detailed quarterly investor letters explaining their thinking, defending their losing positions, and walking readers through what they got wrong. That's not a random sample of the industry; it's a specific population, and understanding why they self-select matters more than most investors realize.
Quantitative funds, multi-strategy platforms, and high-turnover statistical arbitrage shops generally don't write letters. There's nothing to write about: their portfolios change daily, their alpha sources are proprietary models, and their LPs don't care about narrative.
The funds that do publish letters tend to run between 10 and 50 positions, hold them for years, and have clear theses they can explain to a sophisticated reader in two pages. This biases the database toward concentrated long-only managers, long/short equity funds, activist investors, event-driven shops, and special situations specialists. It's not a weakness; it's a curation. If you're looking for fundamental investing ideas with reasoning attached, this is the population to study.
If you searched for "biggest hedge funds" you probably expected to see Bridgewater, Citadel, Millennium, Renaissance Technologies, and D.E. Shaw at the top of this page. They aren't. Those firms collectively manage close to a trillion dollars and they almost never publish detailed letters. Bridgewater puts out the occasional "Daily Observations" piece. Citadel and Millennium send LPs short performance summaries. Renaissance has been a black box since 1988.
The reason is straightforward: their edge is process, model architecture, or trade execution speed, not narrative. There's nothing to gain by explaining their thinking, and quite a bit to lose. So while the world's largest hedge funds are absent from our database, the world's most readable hedge funds are concentrated here. For anyone trying to learn how professional capital allocators reason about markets, that's a much more useful population.
Most users come here looking for either a manager or a ticker. If you're researching a manager (say, you want to understand David Einhorn's thinking on a position), start with their fund profile, scan their last four quarterly letters, then look at their elevator pitches to see what specific theses they've published.
If you're researching a ticker, the more useful workflow is the reverse: search the ticker in our pitch database, see which managers wrote about it and on which side (bull or bear), then read their letters to understand the surrounding context. Either way, the goal isn't to copy positions. It's to understand how good managers reason: what data they look at, what they choose to ignore, and how they update when wrong.
Buyside Digest’s database represents a curated selection of publicly available investor letters. We do not claim to have a comprehensive collection of all letters from all managers. The presence or absence of a manager or letter in our database should not be interpreted as a recommendation, endorsement, or qualitative judgment. Our database reflects our editorial choices about coverage and may change over time.
The Buyside Digest database, including the selection, arrangement, organization, and presentation of investor letters and related content, is a protected compilation under United States and international copyright law. While the underlying investor letters remain the property of their originating authors, Buyside Digest’s compilation, organization, structure, editorial commentary, summaries, classifications, metadata, themes, and analytical features are protected by copyright, database rights, and other intellectual property laws. Reproducing the Buyside Digest version of any content (including the formatting, organization, contextual placement, accompanying editorial commentary, metadata, and curated summaries) infringes both the underlying manager’s copyright and Buyside Digest’s compilation copyright. See our Terms of Service for complete information on permitted and prohibited uses.
Rankings, comparisons, and “top” lists displayed on Buyside Digest reflect editorial choices about how to organize content for navigational convenience. Such rankings: Are not recommendations by Buyside Digest of any manager, security, or strategy; Use methodologies (such as frequency of discussion, recency of content, or other criteria) that may be subjective and that we may change over time; Do not reflect performance, quality, suitability, or any qualitative judgment about the managers or securities included; Should not be interpreted as endorsements; May not be exhaustive and may exclude managers, securities, or content for various reasons. Rankings are organizational tools. They are not investment advice and should not be relied upon for investment decisions.