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, Gymkhana Partners. This analysis is provided for institutional research purposes only and is not investment advice.
"Gymkhana Partners significantly outperformed Indian equity benchmarks in H1 2026 with its portfolio of high-quality businesses trading at 15x forward earnings despite faster growth than major indices. The manager remains fully invested and bullish, substantially adding to healthcare positions while trimming stocks following rallies."
Gymkhana Partners outperformed major Indian equity benchmarks during H1 2026, declining only 0.6% in U.S. dollar terms versus declines of 13% for the BSE Sensex and 9% for MSCI India. This performance is consistent with the firm's 13-year track record of 11.9% compound annual returns net of all fees and taxes, exceeding all 56 U.S. dollar-denominated India-dedicated mutual funds and ETFs. The portfolio trades at roughly 15 times forward earnings, significantly below major indices despite faster earnings growth, as relentless foreign selling has driven Indian equities to 14-year lows in overseas institutional holdings. The manager remains virtually fully invested and substantially added to healthcare positions Indegene and Medi Assist Healthcare Services while trimming positions following rallies that outpaced fundamentals. India's world-leading growth is underpinned by youthful demographics, accelerating urbanization, and innovative digital infrastructure. The manager believes AI's embedding into India's economy will further accelerate earnings compounding and views current valuations as an opportune entry point for long-term investors.
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.
