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.
In Q3 2025, Torre Financial returned 1.7% vs 8.1% for the S&P 500, underperforming due to a cautious approach to market froth. The manager aggressively exited traditional software businesses facing existential AI pricing threats while doubling down on high-quality hardware and infrastructure compounders.
Full Quick Take
In Q3 2025, Torre Financial returned 1.7% vs 8.1% for the S&P 500, underperforming due to a cautious approach to market froth. The manager aggressively exited traditional software businesses facing existential AI pricing threats while doubling down on high-quality hardware and infrastructure compounders.
The Bristol Gate Canadian Equity Strategy lagged the benchmark in Q3 2025 due to zero exposure to the surging gold mining sector, but continues to deliver superior dividend growth and remains committed to its high-quality compounder philosophy.
Full Quick Take
The Bristol Gate Canadian Equity Strategy lagged the benchmark in Q3 2025 due to zero exposure to the surging gold mining sector, but continues to deliver superior dividend growth and remains committed to its high-quality compounder philosophy.
Silver Ring Value Partners maintains a cautious market stance, holding 30% cash amidst inflated market valuations and softening demand. The manager is actively rebalancing the portfolio into catalyst-driven investments and long-duration growth compounders. Recent actions include initiating a position in International Game Technology and enlarging Alfa S.A.B., with portfolio holdings trading at an attractive 60% of base-case intrinsic value.
Full Quick Take
Silver Ring Value Partners maintains a cautious market stance, holding 30% cash amidst inflated market valuations and softening demand. The manager is actively rebalancing the portfolio into catalyst-driven investments and long-duration growth compounders. Recent actions include initiating a position in International Game Technology and enlarging Alfa S.A.B., with portfolio holdings trading at an attractive 60% of base-case intrinsic value.
