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.
Merchant West emphasizes adaptation and long-term thinking amid Q3 market weakness. Despite geopolitical tensions and technological disruption, the firm maintains conviction in quality investing and disciplined processes. Key themes include AI's exponential growth trajectory and convenience stores adapting to EV transition. Interest rate peaks expected with central bank cuts anticipated in 2024, supporting long-term market outlook.
Full Quick Take
Merchant West emphasizes adaptation and long-term thinking amid Q3 market weakness. Despite geopolitical tensions and technological disruption, the firm maintains conviction in quality investing and disciplined processes. Key themes include AI's exponential growth trajectory and convenience stores adapting to EV transition. Interest rate peaks expected with central bank cuts anticipated in 2024, supporting long-term market outlook.
SouthernSun's SMID Cap strategy delivered -6.05% in Q3 but maintains strong trailing performance. The firm completed leadership transition to employee ownership while focusing on self-help stories like Boston Beer and Murphy USA. Despite macro headwinds including elevated cash yields and small cap underperformance, management sees opportunity in market dislocation for patient fundamental investors.
Full Quick Take
SouthernSun's SMID Cap strategy delivered -6.05% in Q3 but maintains strong trailing performance. The firm completed leadership transition to employee ownership while focusing on self-help stories like Boston Beer and Murphy USA. Despite macro headwinds including elevated cash yields and small cap underperformance, management sees opportunity in market dislocation for patient fundamental investors.
