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.
Night Watch Investment Management delivered a strong 12.80% net return in Q2 2026 by exploiting market bifurcation. The fund is actively buying high-quality compounders punished by the AI-hype cycle, focusing on companies with genuine earnings and minimal stock-based compensation dilution. Key positions like Marex and Watches of Switzerland continue to drive robust, low-volatility compounding.
Full Quick Take
Night Watch Investment Management delivered a strong 12.80% net return in Q2 2026 by exploiting market bifurcation. The fund is actively buying high-quality compounders punished by the AI-hype cycle, focusing on companies with genuine earnings and minimal stock-based compensation dilution. Key positions like Marex and Watches of Switzerland continue to drive robust, low-volatility compounding.
