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.
White Falcon posted strong Q3 2025 gains of 10.8% driven by precious metals and core holdings, but is taking a cautious stance by trimming winners and building up cash in an extended market cycle.
Full Quick Take
White Falcon posted strong Q3 2025 gains of 10.8% driven by precious metals and core holdings, but is taking a cautious stance by trimming winners and building up cash in an extended market cycle.
The portfolio underperformed in Q3 2025 as the market favored high-beta momentum stocks and commodity miners. Harding Loevner remains anchored in its long-term quality-compounder strategy, adding to resilient IT services and health care equipment holdings on weakness.
Full Quick Take
The portfolio underperformed in Q3 2025 as the market favored high-beta momentum stocks and commodity miners. Harding Loevner remains anchored in its long-term quality-compounder strategy, adding to resilient IT services and health care equipment holdings on weakness.
