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 Insiders Fund underperformed in Q2 2026 after Alphabet's $80 billion dilutive capital raise torpedoed a 30% position. The manager believes AI compute demand is overstated and sold semiconductor holdings to redeploy into insider-buying opportunities across healthcare, energy, and industrials. Energy Transfer leads as the top holding for data center natural gas exposure. Portfolio repositioned for rate cuts and rotation beyond AI infrastructure concentration.
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The Insiders Fund underperformed in Q2 2026 after Alphabet's $80 billion dilutive capital raise torpedoed a 30% position. The manager believes AI compute demand is overstated and sold semiconductor holdings to redeploy into insider-buying opportunities across healthcare, energy, and industrials. Energy Transfer leads as the top holding for data center natural gas exposure. Portfolio repositioned for rate cuts and rotation beyond AI infrastructure concentration.
The Heartland Mid Cap Value Fund underperformed in Q4 2025 as high-quality value continued to lag speculative, momentum-driven segments. The fund continues to enforce its disciplined 'two-bucket' value strategy to protect against extreme market disparities.
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The Heartland Mid Cap Value Fund underperformed in Q4 2025 as high-quality value continued to lag speculative, momentum-driven segments. The fund continues to enforce its disciplined 'two-bucket' value strategy to protect against extreme market disparities.
