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.
Penn Davis McFarland advises avoiding speculative, highly valued capital market favorites like SpaceX in favor of profitable businesses trading at attractive valuations. While acknowledging the transformative power of AI, they emphasize that real value lies in long-term enterprise adoption and implementation. Consequently, they established a position in Accenture at multi-year valuation lows to benefit from this secular transition.
Full Quick Take
Penn Davis McFarland advises avoiding speculative, highly valued capital market favorites like SpaceX in favor of profitable businesses trading at attractive valuations. While acknowledging the transformative power of AI, they emphasize that real value lies in long-term enterprise adoption and implementation. Consequently, they established a position in Accenture at multi-year valuation lows to benefit from this secular transition.
Vision Capital Fund posted a strong +15.6% YTD net return with zero portfolio turnover, using market pullbacks to increase exposure to top compounders like Palantir and establish a new position in Cloudflare.
Full Quick Take
Vision Capital Fund posted a strong +15.6% YTD net return with zero portfolio turnover, using market pullbacks to increase exposure to top compounders like Palantir and establish a new position in Cloudflare.
