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 Hirschmann Partnership delivered exceptional H2 2025 returns through its ultra-bearish, 100%+ concentrated allocation to Gold Mining Equities. The manager argues a severe US sovereign debt crisis is mathematically inevitable and positions GMEs as the ultimate asymmetric hedge.
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The Hirschmann Partnership delivered exceptional H2 2025 returns through its ultra-bearish, 100%+ concentrated allocation to Gold Mining Equities. The manager argues a severe US sovereign debt crisis is mathematically inevitable and positions GMEs as the ultimate asymmetric hedge.
Carmignac Patrimoine delivered a strong +3.72% return in Q3 2025, outperforming its reference. The fund remains constructive on AI and industrial equities, but maintains a cautious overall posture by utilizing negative fixed-income duration, gold, and equity hedges to guard against underpriced inflation risks.
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Carmignac Patrimoine delivered a strong +3.72% return in Q3 2025, outperforming its reference. The fund remains constructive on AI and industrial equities, but maintains a cautious overall posture by utilizing negative fixed-income duration, gold, and equity hedges to guard against underpriced inflation risks.
Hirschmann Capital delivered a stellar 68.0% return in H1 2025, fueled by an ultra-bearish, highly concentrated portfolio of gold mining equities positioned for an imminent US economic and sovereign debt collapse.
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Hirschmann Capital delivered a stellar 68.0% return in H1 2025, fueled by an ultra-bearish, highly concentrated portfolio of gold mining equities positioned for an imminent US economic and sovereign debt collapse.
Hirschmann Capital reports spectacular YTD performance (+130.4% Class A) driven by its gold mining exposure, while maintaining an ultra-bearish posture primed for the burst of the US market superbubble.
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Hirschmann Capital reports spectacular YTD performance (+130.4% Class A) driven by its gold mining exposure, while maintaining an ultra-bearish posture primed for the burst of the US market superbubble.
