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 fund rotated capital out of Lam Research and CSX into Canadian Pacific and Progressive, maintaining a highly concentrated 12-stock portfolio and warning against speculative market behavior.
Full Quick Take
The fund rotated capital out of Lam Research and CSX into Canadian Pacific and Progressive, maintaining a highly concentrated 12-stock portfolio and warning against speculative market behavior.
Aoris International Fund underperformed its benchmark in Q3 2025. The fund capitalized on market volatility by adding SAP and IHG, exiting Copart, and outlining its highly disciplined approach to selling holdings.
Full Quick Take
Aoris International Fund underperformed its benchmark in Q3 2025. The fund capitalized on market volatility by adding SAP and IHG, exiting Copart, and outlining its highly disciplined approach to selling holdings.
The manager emphasizes a long-term compounding mindset, reviews historical exits to validate his investment process, and remains highly constructive on portfolio earnings growth.
Full Quick Take
The manager emphasizes a long-term compounding mindset, reviews historical exits to validate his investment process, and remains highly constructive on portfolio earnings growth.