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.
MJG Capital delivered 35.77% first-half returns as natural resources positioned for outperformance amid unsustainable US equity market concentration. Portfolio benefits from copper exposure, PGM price recovery, and crypto capital entering mining via Tether's Elemental Altus investment. Manager maintains disciplined bottom-up approach targeting quality management teams and assets, expecting continued alpha generation as investment capital rotates toward neglected sectors.
Full Quick Take
MJG Capital delivered 35.77% first-half returns as natural resources positioned for outperformance amid unsustainable US equity market concentration. Portfolio benefits from copper exposure, PGM price recovery, and crypto capital entering mining via Tether's Elemental Altus investment. Manager maintains disciplined bottom-up approach targeting quality management teams and assets, expecting continued alpha generation as investment capital rotates toward neglected sectors.
MJG Capital delivered 35.77% returns in H1 2025, outperforming through concentrated natural resource investing. The fund's copper and gold focus benefits from shifting capital flows away from overvalued US equities. Tether's crypto capital entry into mining via Elemental Altus signals broader institutional interest. Strong performance from Kenorland and Bravo Mining validates the people-first investment approach in neglected asset classes.
Full Quick Take
MJG Capital delivered 35.77% returns in H1 2025, outperforming through concentrated natural resource investing. The fund's copper and gold focus benefits from shifting capital flows away from overvalued US equities. Tether's crypto capital entry into mining via Elemental Altus signals broader institutional interest. Strong performance from Kenorland and Bravo Mining validates the people-first investment approach in neglected asset classes.
