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.
Orbis Global Equity details the logic behind re-establishing its position in Alphabet, explaining why the threat of ChatGPT-led disruption to Google's core business is structurally overstated and how its vertical AI integration provides an asymmetric entry point.
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Orbis Global Equity details the logic behind re-establishing its position in Alphabet, explaining why the threat of ChatGPT-led disruption to Google's core business is structurally overstated and how its vertical AI integration provides an asymmetric entry point.
Kernow returned 4.0% in December, capping a 16.4% gain for 2025, driven by covering a highly profitable AI-euphoria short (Fermi) and adding to contrarian longs like Kistos and a Unilever spin-off.
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Kernow returned 4.0% in December, capping a 16.4% gain for 2025, driven by covering a highly profitable AI-euphoria short (Fermi) and adding to contrarian longs like Kistos and a Unilever spin-off.
Maple Tree Capital experienced a mixed Q3 2025 as Jonagold fell 13.12% due to a decline in Upstart, while Heartwood gained 40.02% by successfully pivoting into high-performing AI infrastructure assets.
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Maple Tree Capital experienced a mixed Q3 2025 as Jonagold fell 13.12% due to a decline in Upstart, while Heartwood gained 40.02% by successfully pivoting into high-performing AI infrastructure assets.
A highly divergent Q3 2025 for Maple Tree Capital, marked by a 13.12% drop in its Jonagold portfolio due to Upstart volatility, contrasted with an exceptional 40.02% gain in its Heartwood portfolio driven by successful rotations into AI infrastructure and energy.
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A highly divergent Q3 2025 for Maple Tree Capital, marked by a 13.12% drop in its Jonagold portfolio due to Upstart volatility, contrasted with an exceptional 40.02% gain in its Heartwood portfolio driven by successful rotations into AI infrastructure and energy.
Maple Tree Capital recorded a stellar Q2 2025 as its Jonagold and Heartwood portfolios returned 42.32% and 26.28%, respectively, driven by concentrated positions in high-conviction names like Upstart and a strategic liquidation of underperforming assets.
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Maple Tree Capital recorded a stellar Q2 2025 as its Jonagold and Heartwood portfolios returned 42.32% and 26.28%, respectively, driven by concentrated positions in high-conviction names like Upstart and a strategic liquidation of underperforming assets.
