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.
The African Lions Fund surged 67.21% in 2025, outperforming major benchmarks. Despite tripling capital since inception, the portfolio remains remarkably cheap at a 6.1x forward PE with an 8% expected dividend yield.
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The African Lions Fund surged 67.21% in 2025, outperforming major benchmarks. Despite tripling capital since inception, the portfolio remains remarkably cheap at a 6.1x forward PE with an 8% expected dividend yield.
US and international equities capped off a strong 2025, but the underlying economy exhibits a fragile, K-shaped divergence. Davidson is actively lengthening duration in municipal bonds to lock in yields above 6% and highlights international equities as attractive relative value opportunities.
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US and international equities capped off a strong 2025, but the underlying economy exhibits a fragile, K-shaped divergence. Davidson is actively lengthening duration in municipal bonds to lock in yields above 6% and highlights international equities as attractive relative value opportunities.
The Aristotle International Equity Fund returned 1.15% in Q3 2025, trailing its benchmark. The fund took advantage of market conditions to initiate a position in Wal-Mart de México while maintaining high conviction in existing holdings like Samsung and Credicorp.
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The Aristotle International Equity Fund returned 1.15% in Q3 2025, trailing its benchmark. The fund took advantage of market conditions to initiate a position in Wal-Mart de México while maintaining high conviction in existing holdings like Samsung and Credicorp.
The Invesco International Bond Fund delivered a 6.45% Class A NAV return in Q2 2025, slightly lagging its benchmark as the managers actively managed duration and trimmed emerging market risk amidst a weakening US dollar.
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The Invesco International Bond Fund delivered a 6.45% Class A NAV return in Q2 2025, slightly lagging its benchmark as the managers actively managed duration and trimmed emerging market risk amidst a weakening US dollar.
