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.
Diamond Hill Mid Cap Strategy outperformed the Russell Midcap Index by 3.49% in Q4 2025, returning 3.65% net of fees. The fund is proactively shifting to a more defensive stance amid stretched market valuations and AI hype.
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Diamond Hill Mid Cap Strategy outperformed the Russell Midcap Index by 3.49% in Q4 2025, returning 3.65% net of fees. The fund is proactively shifting to a more defensive stance amid stretched market valuations and AI hype.
Polaris delivered a respectable 5.04% net return in Q3 2025, while warning of frothy AI tech valuations and positioning the fund defensively in cheaper global value sectors and trade-resilient infrastructure.
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Polaris delivered a respectable 5.04% net return in Q3 2025, while warning of frothy AI tech valuations and positioning the fund defensively in cheaper global value sectors and trade-resilient infrastructure.
Matrix Asset Advisors is taking a defensive posture heading into Q4 2025, actively trimming its equity exposure and rotating into high-quality value laggards to mitigate valuation risks and an impending economic slowdown.
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Matrix Asset Advisors is taking a defensive posture heading into Q4 2025, actively trimming its equity exposure and rotating into high-quality value laggards to mitigate valuation risks and an impending economic slowdown.
Mott Capital's defensive posture and trimming of Microsoft led to a slow Q2 (+0.53% vs. S&P 500's +6.20%), promptimg a strategic shift out of China-exposed tech into defensive turnaround plays like UnitedHealth and Zoetis ahead of anticipated H2 market volatility.
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Mott Capital's defensive posture and trimming of Microsoft led to a slow Q2 (+0.53% vs. S&P 500's +6.20%), promptimg a strategic shift out of China-exposed tech into defensive turnaround plays like UnitedHealth and Zoetis ahead of anticipated H2 market volatility.
City Different's Multi-Cap Core strategy lagged the S&P 500 in Q3 due to momentum-driven rallies in speculative growth stocks they avoid. Mid-caps were the primary detractor. Despite quarterly underperformance, the strategy leads year-to-date. The manager maintains conviction in their life-cycle-based approach and views current performance as an opportunity for new money deployment.
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City Different's Multi-Cap Core strategy lagged the S&P 500 in Q3 due to momentum-driven rallies in speculative growth stocks they avoid. Mid-caps were the primary detractor. Despite quarterly underperformance, the strategy leads year-to-date. The manager maintains conviction in their life-cycle-based approach and views current performance as an opportunity for new money deployment.
