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.
Night Watch Investment Partners posted a 0.84% net return for Q3 2026 and 16.83% net year-to-date. The fund remains cautious amid geopolitical friction, high oil prices, and rising interest rates, maintaining net exposure of 95% to 100% with index shorts while overweighting counter-cyclical businesses like Marex, US refiners, and post-destocking specialty chemical distributors.
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Night Watch Investment Partners posted a 0.84% net return for Q3 2026 and 16.83% net year-to-date. The fund remains cautious amid geopolitical friction, high oil prices, and rising interest rates, maintaining net exposure of 95% to 100% with index shorts while overweighting counter-cyclical businesses like Marex, US refiners, and post-destocking specialty chemical distributors.
Zeno highlights its high-conviction position in Texas Instruments, arguing that the company's aggressive in-house US manufacturing expansion and focus on long-lived catalog analog chips will generate superior long-term returns despite short-term cyclical headwinds.
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Zeno highlights its high-conviction position in Texas Instruments, arguing that the company's aggressive in-house US manufacturing expansion and focus on long-lived catalog analog chips will generate superior long-term returns despite short-term cyclical headwinds.
Night Watch Investment Partners surged 23.31% net in Q2 2025 (YTD 20.71%), driven by strong gains in core positions like Haypp and Marex. The fund dynamically managed geopolitical risks by exiting Remitly and taking profit on a 160% gain in Dream International.
Full Quick Take
Night Watch Investment Partners surged 23.31% net in Q2 2025 (YTD 20.71%), driven by strong gains in core positions like Haypp and Marex. The fund dynamically managed geopolitical risks by exiting Remitly and taking profit on a 160% gain in Dream International.
