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.
Driven by an acute September drawdown across vertical software and financial compounders amid AI disruption narratives, while initiating positions in TransDigm and Rollins and maintaining cash at 2.8%.
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Driven by an acute September drawdown across vertical software and financial compounders amid AI disruption narratives, while initiating positions in TransDigm and Rollins and maintaining cash at 2.8%.
The fund maintains a highly differentiated profile, trading at an 8.0% NTM FCF yield and 12.5x P/E with conservative balance sheet leverage (1.1x net debt to EBITDA), compared to the S&P 500's 3.3% FCF yield and 19.7x P/E.
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The fund maintains a highly differentiated profile, trading at an 8.0% NTM FCF yield and 12.5x P/E with conservative balance sheet leverage (1.1x net debt to EBITDA), compared to the S&P 500's 3.3% FCF yield and 19.7x P/E.
Driven by earnings headwinds at Empire State Realty and TripAdvisor, while initiating one high-cash-flow position and engaging with investees as portfolio price-to-value dropped to 50%.
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Driven by earnings headwinds at Empire State Realty and TripAdvisor, while initiating one high-cash-flow position and engaging with investees as portfolio price-to-value dropped to 50%.
Generation Investment Management is using short-term market distortions to double down on a more concentrated, historically cheap portfolio of top-quality sustainable compounders, positioned to deliver strong outperformance when the market eventually shifts back to fundamental.
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Generation Investment Management is using short-term market distortions to double down on a more concentrated, historically cheap portfolio of top-quality sustainable compounders, positioned to deliver strong outperformance when the market eventually shifts back to fundamental.
However, the manager remains highly constructive, arguing that underlying business fundamentals remain robust and valuations across ASEAN represent generational buying opportunities.
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However, the manager remains highly constructive, arguing that underlying business fundamentals remain robust and valuations across ASEAN represent generational buying opportunities.