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.
Desert Lion Capital underperformed the index in Q2 2025 due to a lack of gold/Naspers exposure, but remains highly confident in its deeply discounted, high-compounding core holdings like Argent Industrial, which trades below a 4x ex-cash P/E.
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Desert Lion Capital underperformed the index in Q2 2025 due to a lack of gold/Naspers exposure, but remains highly confident in its deeply discounted, high-compounding core holdings like Argent Industrial, which trades below a 4x ex-cash P/E.
Quercus Fund delivered a stellar 35.8% return in 2024 through its highly concentrated core portfolio, though the manager cautions that fundamental growth trailed share prices. The fund remains highly focused on Bolloré's potential to unlock value via its massive €6 billion cash hoard.
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Quercus Fund delivered a stellar 35.8% return in 2024 through its highly concentrated core portfolio, though the manager cautions that fundamental growth trailed share prices. The fund remains highly focused on Bolloré's potential to unlock value via its massive €6 billion cash hoard.
