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.
Mayar Capital underperforms the speculative CY 2025 index run, returning 14.1% net versus the MSCI World's 21.1%. The fund maintains a cautious posture, warning of AI sector 'circular financing' while rebalancing into durable, high-quality franchises on price weakness.
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Mayar Capital underperforms the speculative CY 2025 index run, returning 14.1% net versus the MSCI World's 21.1%. The fund maintains a cautious posture, warning of AI sector 'circular financing' while rebalancing into durable, high-quality franchises on price weakness.
GCAM generated a 6.79% return in Q3 2025, slightly lagging the market due to a health-related CEO retirement at Constellation Software. The fund initiated a position in Taiwan Semiconductor while sounding a strong alarm on Nvidia's OpenAI financing deal, comparing it to dot-com bubble dynamics.
Full Quick Take
GCAM generated a 6.79% return in Q3 2025, slightly lagging the market due to a health-related CEO retirement at Constellation Software. The fund initiated a position in Taiwan Semiconductor while sounding a strong alarm on Nvidia's OpenAI financing deal, comparing it to dot-com bubble dynamics.
