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 BNY Mellon Appreciation Fund underperformed the S&P 500 in Q4 2025 (1.33% vs. 2.66%) due to weak selection in tech and industrials, with the manager maintaining a cautious stance focused on cycle-tested compounders.
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The BNY Mellon Appreciation Fund underperformed the S&P 500 in Q4 2025 (1.33% vs. 2.66%) due to weak selection in tech and industrials, with the manager maintaining a cautious stance focused on cycle-tested compounders.
