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.
ClearBridge Mid Cap Strategy outperformed in Q3 2025 through superior stock selection in consumer staples and health care, benefiting from Fed rate cuts and easing policy uncertainty. Strong performance from Performance Food Group and biotech holdings drove returns. Managers added QXO and Bio-Techne while maintaining disciplined approach focused on fundamental differentiation amid elevated market dispersion.
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ClearBridge Mid Cap Strategy outperformed in Q3 2025 through superior stock selection in consumer staples and health care, benefiting from Fed rate cuts and easing policy uncertainty. Strong performance from Performance Food Group and biotech holdings drove returns. Managers added QXO and Bio-Techne while maintaining disciplined approach focused on fundamental differentiation amid elevated market dispersion.
Oakmark Global outperformed by 618bp in Q1 through disciplined value investing in quality companies trading below intrinsic value. Strong performance from financials led by Lloyds Banking Group offset Alphabet weakness. New positions in Airbnb, Brenntag, Pernod Ricard, and Sysco capitalize on travel growth, chemical cycle recovery, premium spirits barriers, and foodservice distribution trends.
Full Quick Take
Oakmark Global outperformed by 618bp in Q1 through disciplined value investing in quality companies trading below intrinsic value. Strong performance from financials led by Lloyds Banking Group offset Alphabet weakness. New positions in Airbnb, Brenntag, Pernod Ricard, and Sysco capitalize on travel growth, chemical cycle recovery, premium spirits barriers, and foodservice distribution trends.
Greystone delivered +19.9% in 2024 through concentrated small cap value investing, owning zero S&P 500 companies while focusing on overlooked businesses with superior fundamentals. Despite late-quarter volatility affecting small caps, the manager sees excellent opportunities in microcaps and small companies trading at cheap multiples, emphasizing patience and multi-year investment horizons for quality businesses.
Full Quick Take
Greystone delivered +19.9% in 2024 through concentrated small cap value investing, owning zero S&P 500 companies while focusing on overlooked businesses with superior fundamentals. Despite late-quarter volatility affecting small caps, the manager sees excellent opportunities in microcaps and small companies trading at cheap multiples, emphasizing patience and multi-year investment horizons for quality businesses.
