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.
Marcuard Heritage views Q2 2026 as an inflationary boom with resilient nominal growth but persistent inflation risks. The preliminary US-Iran accord reduced Middle East tail risks while AI-driven capex supports technology and semiconductors. Stagflation is the main downside risk. The firm emphasizes capital preservation through short-duration credit and Liquid Alternatives, avoiding broad equity beta given elevated valuations and rising dispersion.
Full Quick Take
Marcuard Heritage views Q2 2026 as an inflationary boom with resilient nominal growth but persistent inflation risks. The preliminary US-Iran accord reduced Middle East tail risks while AI-driven capex supports technology and semiconductors. Stagflation is the main downside risk. The firm emphasizes capital preservation through short-duration credit and Liquid Alternatives, avoiding broad equity beta given elevated valuations and rising dispersion.
Alpinum views global conditions as an inflationary boom supported by nominal demand and AI capital spending. With stagflation posing the central downside risk and equity valuations stretched, the firm emphasizes short-duration credit, senior secured loans, and liquid alternatives while maintaining selective exposure to non-US equities.
Full Quick Take
Alpinum views global conditions as an inflationary boom supported by nominal demand and AI capital spending. With stagflation posing the central downside risk and equity valuations stretched, the firm emphasizes short-duration credit, senior secured loans, and liquid alternatives while maintaining selective exposure to non-US equities.
