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.
FPA New Income Fund returned 1.76% in Q3 2025 by taking a highly defensive stance, completely avoiding expensive lower-rated credit and shifting capital into cash and longer-duration, high-quality Treasuries.
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FPA New Income Fund returned 1.76% in Q3 2025 by taking a highly defensive stance, completely avoiding expensive lower-rated credit and shifting capital into cash and longer-duration, high-quality Treasuries.
