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 |
|---|---|---|---|---|---|---|---|
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
| Quarter ↕ | Letter Date ↓ | Fund Name ↕ | QTD ↕ | YTD ↕ | SI ↕ | Tickers | Keywords / Themes | Quick Take | Pitches (LONG / SHORT) | Current Positioning | Letter |
|---|---|---|---|---|---|---|---|---|---|---|---|
Q3 2026 | Oct 15, 2026 | +6.1% | +7.7% | +13.1% | Driven by strong stock selection and allocation in technology and industrials, while maintaining core allocations to high-quality compounders amid rising rates. Full Quick Take Driven by strong stock selection and allocation in technology and industrials, while maintaining core allocations to high-quality compounders amid rising rates. | - | |||||
Q3 2026 | Oct 15, 2026 | - | - | - | ClearBridge All Cap Growth Strategy outperformed its Russell 3000 Growth benchmark in Q3 2026, driven by strong stock selection in rebounding enterprise software and disciplined semiconductor positioning, while expanding AI infrastructure exposure via new positions in AMD. Full Quick Take ClearBridge All Cap Growth Strategy outperformed its Russell 3000 Growth benchmark in Q3 2026, driven by strong stock selection in rebounding enterprise software and disciplined semiconductor positioning, while expanding AI infrastructure exposure via new positions in AMD. | - | |||||
Q3 2026 | Oct 13, 2026 | +1.7% | +3.6% | +9.3% | Driven by strength in IQVIA and enterprise software, while initiating positions in Meta Platforms and Sugi Holdings alongside four complete exits. Full Quick Take Driven by strength in IQVIA and enterprise software, while initiating positions in Meta Platforms and Sugi Holdings alongside four complete exits. | ||||||
Q3 2026 | Oct 13, 2026 | +3.5% | +3.4% | +12.7% | Driven by outperformance in information technology and health care holdings like Salesforce, while initiating new positions in Meta Platforms and American Express and exiting legacy cable and energy investments. Full Quick Take Driven by outperformance in information technology and health care holdings like Salesforce, while initiating new positions in Meta Platforms and American Express and exiting legacy cable and energy investments. | ||||||
Q3 2026 | Oct 5, 2026 | - | - | +9.2% | ACATIS delivered strong performance in August 2026 driven by biotechnology, small-cap, and software rebounds, while maintaining a cautious macro stance via volatility hedges against geopolitical tension, oil price shocks, and interest rate uncertainty. Full Quick Take ACATIS delivered strong performance in August 2026 driven by biotechnology, small-cap, and software rebounds, while maintaining a cautious macro stance via volatility hedges against geopolitical tension, oil price shocks, and interest rate uncertainty. | ||||||
Q3 2026 | Oct 5, 2026 | - | - | - | ClearBridge Large Cap Growth Strategy outperformed its benchmark in the third quarter of 2026 as the AI momentum unwind favored disciplined stock selection. Full Quick Take ClearBridge Large Cap Growth Strategy outperformed its benchmark in the third quarter of 2026 as the AI momentum unwind favored disciplined stock selection. | - | |||||
Q3 2026 | Sep 30, 2026 | +6.8% | +5.1% | +12.0% | Driven by stock selection in Microsoft and Veeva Systems alongside avoidance of Tesla, while initiating positions in Palantir, Amphenol, and Seagate. Full Quick Take Driven by stock selection in Microsoft and Veeva Systems alongside avoidance of Tesla, while initiating positions in Palantir, Amphenol, and Seagate. | ||||||
Q2 2026 | Jul 8, 2026 | - | - | - | - | Markets delivered positive first-half returns despite Middle East conflict and inflation resurgence, driven by exceptional earnings from AI monetization and energy sector strength. Energy equities remain undervalued at $65 WTI versus $80 floor expectations. Full Quick Take Markets delivered positive first-half returns despite Middle East conflict and inflation resurgence, driven by exceptional earnings from AI monetization and energy sector strength. Energy equities remain undervalued at $65 WTI versus $80 floor expectations. | - | ||||
Q4 2025 | Jan 9, 2026 | -46.0% | +5.0% | +17.6% | Brown Advisory's Mid-Cap Growth strategy underperformed in 2025 due to a single-stock index distortion (not owning Palantir), but the managers used the quarter's volatility to recycle capital into highly attractive new ideas and add to core compounder holdings. Full Quick Take Brown Advisory's Mid-Cap Growth strategy underperformed in 2025 due to a single-stock index distortion (not owning Palantir), but the managers used the quarter's volatility to recycle capital into highly attractive new ideas and add to core compounder holdings. | - | |||||
Q4 2025 | Dec 31, 2025 | +4.0% | +26.0% | +8.0% | Devon Funds delivers consistent returns in December 2025, using market volatility to add to high-conviction holdings while maintaining a rigorous approach to ESG integration and active corporate engagement. Full Quick Take Devon Funds delivers consistent returns in December 2025, using market volatility to add to high-conviction holdings while maintaining a rigorous approach to ESG integration and active corporate engagement. | - | |||||
Q4 2025 | Dec 31, 2025 | +2.0% | +12.8% | +9.8% | The fund actively adjusted its holdings, exiting Roper and Equifax to fund high-conviction positions in TSM and Netflix, while maintaining a cautious and valuation-disciplined outlook for 2026. Full Quick Take The fund actively adjusted its holdings, exiting Roper and Equifax to fund high-conviction positions in TSM and Netflix, while maintaining a cautious and valuation-disciplined outlook for 2026. | ||||||
Q4 2025 | Dec 31, 2025 | - | - | - | - | Global diversification and strict valuation discipline are essential for long-term capital compounding as US market concentration risks rise. Recent international outperformance and the shift toward tangible AI monetization validate a cautious stance on crowded trades. Full Quick Take Global diversification and strict valuation discipline are essential for long-term capital compounding as US market concentration risks rise. Recent international outperformance and the shift toward tangible AI monetization validate a cautious stance on crowded trades. | - | ||||
Q3 2025 | Sep 30, 2025 | +5.0% | +23.1% | +11.2% | The portfolio underperformed its benchmark in Q3 2025 due to stock selection headwinds in SaaS and analog semiconductors, though it capitalized on European financial and industrial initiations. Full Quick Take The portfolio underperformed its benchmark in Q3 2025 due to stock selection headwinds in SaaS and analog semiconductors, though it capitalized on European financial and industrial initiations. | - | |||||
Q2 2025 | Jun 30, 2025 | +38.7% | +37.3% | +11.6% | |||||||
Q1 2025 | Apr 8, 2025 | -10.6% | -10.6% | +10.5% | The fund targets long-term capital appreciation by investing in the global structural shift toward artificial intelligence. While Q1 was heavily disrupted by US tariff policy and macro uncertainty, the managers maintain a constructive medium-term view on accelerated compute. Full Quick Take The fund targets long-term capital appreciation by investing in the global structural shift toward artificial intelligence. While Q1 was heavily disrupted by US tariff policy and macro uncertainty, the managers maintain a constructive medium-term view on accelerated compute. | ||||||
Q1 2025 | Mar 31, 2025 | - | - | - | The Strategy targets high-quality, idiosyncratic small-cap compounders with diversified secular growth drivers. Despite intense macro volatility, policy shifts, and cooling generative AI sentiment, the portfolio handily beat its benchmark in the first quarter of 2025. Full Quick Take The Strategy targets high-quality, idiosyncratic small-cap compounders with diversified secular growth drivers. Despite intense macro volatility, policy shifts, and cooling generative AI sentiment, the portfolio handily beat its benchmark in the first quarter of 2025. | - | |||||
Q2 2024 | Jun 30, 2024 | +5.9% | +21.9% | +14.2% | Outperforming the benchmark through high-conviction positioning in mega-cap AI leaders. Full Quick Take Outperforming the benchmark through high-conviction positioning in mega-cap AI leaders. |
Q3 2026