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.
Vulcan Value Partners leveraged market volatility in Q3 2025 to optimize portfolio pricing metrics, selling appreciated names like CBRE to fund new discounted opportunities like Fiserv.
Full Quick Take
Vulcan Value Partners leveraged market volatility in Q3 2025 to optimize portfolio pricing metrics, selling appreciated names like CBRE to fund new discounted opportunities like Fiserv.
Lakehouse Small Companies Fund leverages market volatility to build high-conviction positions in resilient, growth-oriented small caps. Despite short-term macro noise surrounding US trade tariffs, the fund's heavy software exposure and low tariff risk position it well for long-term outperformance. Recent additions and successful business transitions, such as FINEOS and RPM Global, underscore the manager's focus on high-margin, capital-light compounders.
Full Quick Take
Lakehouse Small Companies Fund leverages market volatility to build high-conviction positions in resilient, growth-oriented small caps. Despite short-term macro noise surrounding US trade tariffs, the fund's heavy software exposure and low tariff risk position it well for long-term outperformance. Recent additions and successful business transitions, such as FINEOS and RPM Global, underscore the manager's focus on high-margin, capital-light compounders.
Ariel Fund declined 8.00% in Q1 2025, underperforming its benchmarks amid tariff fears and policy uncertainty. The manager is leveraging this market volatility to acquire high-quality, oversold companies with strong fundamentals and attractive valuations.
Full Quick Take
Ariel Fund declined 8.00% in Q1 2025, underperforming its benchmarks amid tariff fears and policy uncertainty. The manager is leveraging this market volatility to acquire high-quality, oversold companies with strong fundamentals and attractive valuations.
