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 | -3.3% | -1.5% | +12.7% | Q3 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 | Mott Capital Management Michael Kramer Mutual Fund | Small Cap | Quality Compounder | Global | Undisclosed | N/A | +9.0% | +10.6% | Q3 2026 Letter → |
| 8 | Carmignac Patrimoine Jacques Hirsch, Kristofer Barrett, Guillaume Rigeade, Eliezer Ben Zimra Hedge Fund | Small Cap | Quality Compounder | Europe | $7.3B | +3.1% | +7.4% | +10.2% | Q3 2026 Letter → |
| 9 | Hoisington Investment Management Van R. Hoisington, Lacy H. Hunt Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | N/A | N/A | N/A | Q3 2026 Letter → |
| 10 | Moon Capital Management David Moon Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | N/A | +4.0% | N/A | Q3 2026 Letter → |
| 11 | PGIM Core Bond Fund PGIM Fixed Income Hedge Fund | Small Cap | Quality Compounder | Global | $2.4B | N/A | N/A | +4.4% | Q3 2026 Letter → |
| 12 | PGIM Global Total Return Fund PGIM Fixed Income Hedge Fund | Small Cap | Quality Compounder | Europe | $2.6B | N/A | N/A | +3.9% | Q3 2026 Letter → |
| 13 | PGIM High Yield Fund PGIM Fixed Income Hedge Fund | Large Cap | Quality Compounder | Europe | $20.0B | N/A | N/A | +6.1% | Q3 2026 Letter → |
| 14 | Aoris International Fund Matthew Berry Hedge Fund | Small Cap | Quality Compounder | Asia | $338.0M | +3.6% | N/A | +12.8% | Q3 2026 Letter → |
| 15 | Right Tail Capital Jeremy Kokemor Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | N/A | N/A | N/A | Q3 2026 Letter → |
| 16 | Baron Discovery Fund Randy Gwirtzman Mutual Fund | Small Cap | Quality Compounder | US | $1.9B | -4.2% | +1.8% | +12.0% | Q3 2026 Letter → |
| 17 | Mobius Capital Partners Carlos von Hardenberg Hedge Fund | Small Cap | Quality Compounder | Emerging Markets | Undisclosed | 0.0% | +30.6% | N/A | Q3 2026 Letter → |
| 18 | Platinum International Technology Fund Jimmy Su Hedge Fund | Small Cap | Quality Compounder | Asia | Undisclosed | -7.8% | N/A | +10.6% | Q3 2026 Letter → |
| 19 | Platinum International Brands Fund Nik Dvornak Hedge Fund | Small Cap | Quality Compounder | Asia | 135.8 | -7.3% | N/A | +9.5% | Q3 2026 Letter → |
| 20 | Platinum Asia Fund Cameron Robertson Hedge Fund | Smid Cap | Quality Compounder | Asia | $1.8B | -1.1% | N/A | +12.9% | Q3 2026 Letter → |
| 21 | Platinum Global Fund (Long Only) David Steinthal Hedge Fund | Small Cap | Quality Compounder | Asia | $53.6M | +3.6% | N/A | +9.1% | Q3 2026 Letter → |
| 22 | Platinum International Fund David Steinthal Hedge Fund | Small Cap | Quality Compounder | Asia | $2330.7M | +3.7% | N/A | +10.7% | Q3 2026 Letter → |
| 23 | Invenomic Capital Management Ali Motamed Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | +14.4% | -5.7% | +14.7% | Q3 2026 Letter → |
| 24 | TAMIM Fund Australia Small Cap Income Ron Shamgar Hedge Fund | Small Cap | Quality Compounder | Asia | Undisclosed | N/A | N/A | +11.4% | Q3 2026 Letter → |
| 25 | Diamond Hill Small-Mid Cap Strategy Anthony Philipp, Chris Welch Mutual Fund | US Equity, Small-Mid Cap Equity | Value | US | $1.4B | -4.6% | +2.1% | +8.1% | Q3 2026 Letter → |
| 26 | Diamond Hill Small Cap Fund Aaron Monroe Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | -6.9% | +19.4% | +10.6% | Q3 2026 Letter → |
| 27 | Diamond Hill Mid Cap Anthony Philipp Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | -3.8% | +1.8% | +7.6% | Q3 2026 Letter → |
| 28 | Matrix Large Cap Value Strategy Matrix Asset Advisors, Inc. Family Office / Individual | Large Cap | Quality Compounder | US | $1.2B | N/A | N/A | N/A | Q3 2026 Letter → |
| 29 | Matrix Dividend Income Matrix Asset Advisors, Inc. Advisory / Asset Manager | Small Cap | Quality Compounder | Europe | $1.2B | N/A | N/A | N/A | Q3 2026 Letter → |
| 30 | Polaris Global Equity Bernard Horn Hedge Fund | Small Cap | Quality Compounder | Global | Undisclosed | -0.2% | +19.7% | +11.3% | Q3 2026 Letter → |
| 31 | Polaris International Equity Bernard Horn Mutual Fund | Small Cap | Quality Compounder | Asia | Undisclosed | +1.9% | +20.3% | +10.7% | Q3 2026 Letter → |
| 32 | Langdon Canadian Smaller Companies Greg Dean Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | -4.9% | -7.8% | +10.1% | Q3 2026 Letter → |
| 33 | Third Avenue International Real Estate Value Fund Quentin Velleley, CFA Hedge Fund | Small Cap | Quality Compounder | Asia | $66.5M | -1.5% | -2.9% | +5.3% | Q3 2026 Letter → |
| 34 | Miller Howard North American Energy Fund Adam Fackler Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | N/A | N/A | +8.2% | Q3 2026 Letter → |
| 35 | Miller Howard Investments Utilities Plus Miller/Howard Investments Inc. Hedge Fund | Small Cap | Quality Compounder | US | $3.5B | N/A | N/A | +14.8% | Q3 2026 Letter → |
| 36 | Miller Howard Investments MLP Strategy Adam Fackler Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | N/A | N/A | +13.4% | Q3 2026 Letter → |
| 37 | Miller Howard Investments Income-Equity Strategies Adam Fackler Family Office / Individual | Mid Cap | Quality Compounder | US | $3.5B | N/A | N/A | +12.6% | Q3 2026 Letter → |
| 38 | Miller Howard Investments Infrastructure Adam Fackler Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | N/A | N/A | +12.6% | Q3 2026 Letter → |
| 39 | NCG SMID Cap Growth Strategy Next Century Growth Investors, LLC Hedge Fund | Smid Cap | Quality Compounder | US | $26.0M | -17.0% | +20.4% | +8.1% | Q3 2026 Letter → |
| 40 | NCG Small Cap Growth Strategy Tom Press Hedge Fund | Small Cap | Quality Compounder | US | $657.0M | -16.4% | +19.0% | +11.2% | Q3 2026 Letter → |
| 41 | NCG Micro Cap Growth Strategy Next Century Growth Investors, LLC Hedge Fund | Micro Cap | Quality Compounder | US | $548.0M | -13.7% | +28.3% | +17.7% | Q3 2026 Letter → |
| 42 | NCG Large Cap Growth Strategy Next Century Growth Investors, LLC Hedge Fund | Small Cap | Quality Compounder | US | $208.0M | -3.0% | +11.3% | +11.3% | Q3 2026 Letter → |
| 43 | Marram Investment Management Vivian Y. Chen, CFA Family Office / Individual | Small Cap | Quality Compounder | US | Undisclosed | +0.7% | +3.9% | +13.5% | Q3 2026 Letter → |
| 44 | Baird Small/Mid Cap Growth Equity Fund Jonathan Good, Chuck Severson Mutual Fund | Small Cap | Quality Compounder | Global | $99.2M | -11.5% | -0.7% | +9.1% | Q3 2026 Letter → |
| 45 | Bramshill Income Performance Fund Art DeGaetano Hedge Fund | Mid Cap | Quality Compounder | US | $7.0B | N/A | -4.0% | +2.6% | Q3 2026 Letter → |
| 46 | The Bristol Gate Canadian Equity Mo Vakil Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | -3.3% | -1.5% | +8.9% | Q3 2026 Letter → |
| 47 | The Bristol Gate U.S. Equity Strategy Achilleas Taxildaris Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | -4.0% | +1.8% | +13.4% | Q3 2026 Letter → |
| 48 | Third Avenue Real Estate Value Fund Jason Wolf, Ryan Dobratz Hedge Fund | Smid Cap | Quality Compounder | US | $1.4B | -8.6% | N/A | +8.2% | Q3 2026 Letter → |
| 49 | Liontrust GF Special Situations Fund Anthony Cross Mutual Fund | Mid Cap | Quality Compounder | Europe | $20.5M | +8.2% | N/A | N/A | Q3 2026 Letter → |
| 50 | Sequoia Fund Arman Gökgöl-Kline, John Harris, Trevor Magyar Hedge Fund | Small Cap | Quality Compounder | US | Undisclosed | +0.8% | +0.2% | +12.2% | 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.