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 Global Value Fund returned 4.4% for the half-year to Dec 2025, deploying a cautious, low-beta strategy that relies on active value unlocking and discount capture to navigate historically overvalued equity markets.
Full Quick Take
The Global Value Fund returned 4.4% for the half-year to Dec 2025, deploying a cautious, low-beta strategy that relies on active value unlocking and discount capture to navigate historically overvalued equity markets.
ACR warns that S&P 500 valuations are in a bubble-like state at 46.0x CAPE, whereas their EQR strategy remains highly attractive and defensive at 10.8x P/E.
Full Quick Take
ACR warns that S&P 500 valuations are in a bubble-like state at 46.0x CAPE, whereas their EQR strategy remains highly attractive and defensive at 10.8x P/E.
