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.
Portfolio pivoted from technology to biotechnology with Eli Lilly as largest position on GLP-1 growth, while maintaining AI exposure across infrastructure and chips. Inflation at 4.2% driving Fed toward rate hikes. Liquidated gold, repositioned bonds for rising rates. Sees 10% S&P 500 upside but concerned about AI investment speed, IPO supply, and excessive optimism. Added undervalued software names after indiscriminate selling.
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Portfolio pivoted from technology to biotechnology with Eli Lilly as largest position on GLP-1 growth, while maintaining AI exposure across infrastructure and chips. Inflation at 4.2% driving Fed toward rate hikes. Liquidated gold, repositioned bonds for rising rates. Sees 10% S&P 500 upside but concerned about AI investment speed, IPO supply, and excessive optimism. Added undervalued software names after indiscriminate selling.
Despite first-quarter volatility driven by geopolitical tensions, shifting monetary policy, and fears of AI-driven business model disruption, the economic outlook remains resilient, particularly in the US. Investors should focus on long-term asset allocation and distinguish temporary technology rotation from demand destruction, rather than succumbing to panic-driven selling amidst stagflation fears or consumer bifurcation.
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Despite first-quarter volatility driven by geopolitical tensions, shifting monetary policy, and fears of AI-driven business model disruption, the economic outlook remains resilient, particularly in the US. Investors should focus on long-term asset allocation and distinguish temporary technology rotation from demand destruction, rather than succumbing to panic-driven selling amidst stagflation fears or consumer bifurcation.
Diameter's 4Q25 letter candidly details a painful distressed loss in First Brands due to fraud, while outlining a cautious but active 2026 playbook focused on bespoke capital solutions, AI power-infrastructure constraints, and rising risks in the asset-backed finance market.
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Diameter's 4Q25 letter candidly details a painful distressed loss in First Brands due to fraud, while outlining a cautious but active 2026 playbook focused on bespoke capital solutions, AI power-infrastructure constraints, and rising risks in the asset-backed finance market.
The Carillon Eagle Mid Cap Growth Fund is maintaining a constructive yet selective stance, avoiding high-valuation speculative tech in favor of reasonably priced AI adopters, high-quality defensive healthcare distributors, and resilient consumer experience plays.
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The Carillon Eagle Mid Cap Growth Fund is maintaining a constructive yet selective stance, avoiding high-valuation speculative tech in favor of reasonably priced AI adopters, high-quality defensive healthcare distributors, and resilient consumer experience plays.
