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 Saturna Global Sustainable Bond Fund outperformed its benchmark by 105 basis points in Q2 2026, driven by overweights to Colombian and Mexican Peso currencies and an underweight to the Euro. The fund opportunistically extended duration during May's Treasury volatility spike but maintains a defensive 4.22-year duration versus the benchmark's 6.17 years, with significant overweight to short-maturity bonds.
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The Saturna Global Sustainable Bond Fund outperformed its benchmark by 105 basis points in Q2 2026, driven by overweights to Colombian and Mexican Peso currencies and an underweight to the Euro. The fund opportunistically extended duration during May's Treasury volatility spike but maintains a defensive 4.22-year duration versus the benchmark's 6.17 years, with significant overweight to short-maturity bonds.
The fund outperformed in Q2 2026 as Hungary and Mexico rate positioning drove gains while Turkey, Brazil, and India detracted. Emerging markets navigated a complex quarter marked by the Iran conflict and less accommodative Fed policy, with central banks delivering increasingly divergent responses. The managers favor fundamentally stronger markets with credible central banks and attractive real yields, viewing recent dislocations as creating improved entry points for selective opportunities.
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The fund outperformed in Q2 2026 as Hungary and Mexico rate positioning drove gains while Turkey, Brazil, and India detracted. Emerging markets navigated a complex quarter marked by the Iran conflict and less accommodative Fed policy, with central banks delivering increasingly divergent responses. The managers favor fundamentally stronger markets with credible central banks and attractive real yields, viewing recent dislocations as creating improved entry points for selective opportunities.
US tariffs create stark winners and losers across emerging markets. Mexico benefits from exemptions and nearshoring trends while China demonstrates resilience through domestic focus. India's structural reforms and limited exposure provide buffer. ASEAN faces significant headwinds requiring defensive positioning. Focus shifts to domestic-oriented companies over export-dependent ones, with opportunities from market volatility.
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US tariffs create stark winners and losers across emerging markets. Mexico benefits from exemptions and nearshoring trends while China demonstrates resilience through domestic focus. India's structural reforms and limited exposure provide buffer. ASEAN faces significant headwinds requiring defensive positioning. Focus shifts to domestic-oriented companies over export-dependent ones, with opportunities from market volatility.
Mindset Value Fund gained 16.8% in Q1 2023, led by HireQuest's franchise staffing model demonstrating exceptional acquisition accretion and earnings power growth toward $2.50-$3 per share. Cannabis investments capitalize on regulatory inefficiencies in a $100 billion industry, while Mexican housing exposure benefits from nearshoring trends. Portfolio yields over 5% annually through diversified income securities.
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Mindset Value Fund gained 16.8% in Q1 2023, led by HireQuest's franchise staffing model demonstrating exceptional acquisition accretion and earnings power growth toward $2.50-$3 per share. Cannabis investments capitalize on regulatory inefficiencies in a $100 billion industry, while Mexican housing exposure benefits from nearshoring trends. Portfolio yields over 5% annually through diversified income securities.
