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.
Bailard's Small Cap Value Strategy generated a 3.40% net return in Q4 2025, outperforming its benchmark for the quarter but posting its first full-year underperformance in seven years due to early-quarter speculative retail behavior. The firm remains confident in its systematic quantitative approach and long-term valuation tailwinds, while highlighting its disciplined and risk-monitored integration of AI tools.
Full Quick Take
Bailard's Small Cap Value Strategy generated a 3.40% net return in Q4 2025, outperforming its benchmark for the quarter but posting its first full-year underperformance in seven years due to early-quarter speculative retail behavior. The firm remains confident in its systematic quantitative approach and long-term valuation tailwinds, while highlighting its disciplined and risk-monitored integration of AI tools.
