Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
The fund returned -1.0% (Net) in Q4 2025, underperforming its benchmark, but continues to systematically deploy capital into high-conviction, depressed value situations like Teleperformance and Winnebago.
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The fund returned -1.0% (Net) in Q4 2025, underperforming its benchmark, but continues to systematically deploy capital into high-conviction, depressed value situations like Teleperformance and Winnebago.
Sands Capital's International Growth strategy underperformed in Q3 2025 due to a sharp style rotation to value and multiple compression, but the managers proactively repositioned the portfolio into higher-conviction secular growth names.
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Sands Capital's International Growth strategy underperformed in Q3 2025 due to a sharp style rotation to value and multiple compression, but the managers proactively repositioned the portfolio into higher-conviction secular growth names.
