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.
SVN Capital fell 10.3% in H1 2026, driven by KKR's 28% decline on overblown private credit fears. Manager views quality stock underperformance as creating opportunity, maintains conviction in KKR's double-digit operating earnings growth and $20/share unrealized value. Indian holdings remain fundamentally strong despite market rotation to AI beneficiaries. Portfolio positioned in durable franchises with patient capital to benefit from the equity yield curve.
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SVN Capital fell 10.3% in H1 2026, driven by KKR's 28% decline on overblown private credit fears. Manager views quality stock underperformance as creating opportunity, maintains conviction in KKR's double-digit operating earnings growth and $20/share unrealized value. Indian holdings remain fundamentally strong despite market rotation to AI beneficiaries. Portfolio positioned in durable franchises with patient capital to benefit from the equity yield curve.
Small-cap equities have entered a secular outperformance regime backed by accelerating EPS growth and 25-year valuation lows relative to large caps. While speculative, unprofitable stocks temporarily led the initial surge, disciplined exposure to profitable, low-volatility quality growth compounders provides the superior risk-adjusted vehicle for the decade ahead.
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Small-cap equities have entered a secular outperformance regime backed by accelerating EPS growth and 25-year valuation lows relative to large caps. While speculative, unprofitable stocks temporarily led the initial surge, disciplined exposure to profitable, low-volatility quality growth compounders provides the superior risk-adjusted vehicle for the decade ahead.
The BBH Mid Cap Fund returned 5.44% in Q2 2025, lagging the index. The manager actively rotated capital from tariff-exposed names to double down on high-quality companies whose valuations were overly punished by temporary policy and funding headwinds.
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The BBH Mid Cap Fund returned 5.44% in Q2 2025, lagging the index. The manager actively rotated capital from tariff-exposed names to double down on high-quality companies whose valuations were overly punished by temporary policy and funding headwinds.
