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 Third Avenue Small-Cap Value Fund outperformed in Q4 2025 and is actively leveraging its 'owner-operator' framework to pressure UniFirst to accept Cintas' buyout, while initiating a contrarian new position in Flagstar Bank.
Full Quick Take
The Third Avenue Small-Cap Value Fund outperformed in Q4 2025 and is actively leveraging its 'owner-operator' framework to pressure UniFirst to accept Cintas' buyout, while initiating a contrarian new position in Flagstar Bank.
AGT Partners achieved a remarkable +60.1% return in Class A for 2024, driven heavily by their long-term compounders and a massive turnaround success in Dyna-Mac Holdings. Due to elevated valuations among top-tier compounders, the fund is selectively allocating more to high-conviction turnaround opportunities with a strong margin of safety.
Full Quick Take
AGT Partners achieved a remarkable +60.1% return in Class A for 2024, driven heavily by their long-term compounders and a massive turnaround success in Dyna-Mac Holdings. Due to elevated valuations among top-tier compounders, the fund is selectively allocating more to high-conviction turnaround opportunities with a strong margin of safety.
