Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
Buyside Digest is not affiliated with, and does not endorse, Rothschild & Co LongRun Equity Fund. This analysis is provided for institutional research purposes only and is not investment advice.
"LongRun Equity underperformed in Q2 2025, declining 1.2% due to healthcare drags and FX headwinds. The fund capitalized on volatility to buy O'Reilly and Salesforce, while exiting UnitedHealth and LVMH."
LongRun Equity strategy fell 1.2% in Q2 2025, underperforming its benchmark which rose 2.6%. The underperformance was primarily driven by drops in healthcare holdings (Thermo Fisher, UnitedHealth) and US dollar weakness, which overshadowed strong performances (>25%) from GE Aerospace, Idexx, Intuit, and Microsoft. Active portfolio adjustments included initiating positions in O'Reilly Automotive and Salesforce, while fully exiting UnitedHealth and LVMH (favoring Hermès). The fund continues to focus on high-quality compounders and expects annualized forward returns in the low double digits.
Sign in or create a free account to unlock full commentary, extracted equity pitches, and direct outbound manager source links with your 3 quarterly credits.
Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: LongRun Equity underperformed in Q2 2025, declining 1.2% due to healthcare drags and FX headwinds. The fund capitalized on volatility to buy O'Reilly and Salesforce, while exiting ...
Growth Outlook
Market outlook remains above average conviction: LongRun Equity underperformed in Q2 2025, declining 1.2% due to healthcare drags and FX headwinds. The fund capitalized on volatility to buy O'Reilly and Salesforce, while exiting ...
Risk Appetite
Risk appetite posture is moderate conviction: LongRun Equity underperformed in Q2 2025, declining 1.2% due to healthcare drags and FX headwinds. The fund capitalized on volatility to buy O'Reilly and Salesforce, while exiting ...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. LongRun Equity underperformed in Q2 2025, declining 1.2% due to healthcare drags and FX headwinds. The fund capitalized on volatility to buy O'Reilly and Salesforce, while exiting ...
Forward Guidance
Forward guidance signal: LongRun Equity underperformed in Q2 2025, declining 1.2% due to healthcare drags and FX headwinds. The fund capitalized on volatility to buy O'Reilly and Salesforce, while exiting ...
Language Signal
Tone analysis indicates above average conviction language: LongRun Equity underperformed in Q2 2025, declining 1.2% due to healthcare drags and FX headwinds. The fund capitalized on volatility to buy O'Reilly and Salesforce, while exiting ...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. LongRun Equity underperformed in Q2 2025, declining 1.2% due to healthcare drags and FX headwinds. The fund capitalized on volatility to buy O'Reilly and Salesforce, while exiting ...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. LongRun Equity underperformed in Q2 2025, declining 1.2% due to healthcare drags and FX headwinds. The fund capitalized on volatility to buy O'Reilly and Salesforce, while exiting ...
Time Horizon
Investment time horizon reflects a high conviction orientation. LongRun Equity underperformed in Q2 2025, declining 1.2% due to healthcare drags and FX headwinds. The fund capitalized on volatility to buy O'Reilly and Salesforce, while exiting ...
