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.
European value fund delivered 16.9% in 2024 through concentrated portfolio of owner-led companies. Sold About You and Interactive Brokers on valuation concerns, added Spanish pharma Rovi and German telecom United Internet. Ten-year investment horizon focuses on capable management, defensible business models, and deep value opportunities. Manager expects significant earnings growth across portfolio in 2025.
Full Quick Take
European value fund delivered 16.9% in 2024 through concentrated portfolio of owner-led companies. Sold About You and Interactive Brokers on valuation concerns, added Spanish pharma Rovi and German telecom United Internet. Ten-year investment horizon focuses on capable management, defensible business models, and deep value opportunities. Manager expects significant earnings growth across portfolio in 2025.
Long Cast delivered strong 3Q23 performance with 8% returns, outpacing small cap benchmarks. The concentrated small cap fund focuses on high corporate IQ companies like medical device manufacturer PDEX and specialty equipment maker SOTK, both expanding capacity and backlogs. Rising rates create near-term headwinds but present sourcing opportunities for patient capital.
Full Quick Take
Long Cast delivered strong 3Q23 performance with 8% returns, outpacing small cap benchmarks. The concentrated small cap fund focuses on high corporate IQ companies like medical device manufacturer PDEX and specialty equipment maker SOTK, both expanding capacity and backlogs. Rising rates create near-term headwinds but present sourcing opportunities for patient capital.
Long Cast delivered strong Q3 performance with 8% returns, focusing on small, customer-centric companies with smart management teams. The fund maintains a concentrated approach, recently harvesting losses and holding higher cash due to geopolitical tensions. Key holdings PDEX and SOTK are expanding capacity for anticipated 2024 growth, while rising rates create opportunities in discounted small caps.
Full Quick Take
Long Cast delivered strong Q3 performance with 8% returns, focusing on small, customer-centric companies with smart management teams. The fund maintains a concentrated approach, recently harvesting losses and holding higher cash due to geopolitical tensions. Key holdings PDEX and SOTK are expanding capacity for anticipated 2024 growth, while rising rates create opportunities in discounted small caps.
