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.
AFC Asia Frontier Fund delivered an estimated +17.5% return in 2025, its third consecutive double-digit year. The fund enters 2026 in a market 'sweet spot' defined by highly depressed valuations (6.7x P/E) and robust macro tailwinds.
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AFC Asia Frontier Fund delivered an estimated +17.5% return in 2025, its third consecutive double-digit year. The fund enters 2026 in a market 'sweet spot' defined by highly depressed valuations (6.7x P/E) and robust macro tailwinds.
The RS Large Cap Value Strategy gained 5.77% net in Q4 2025, beating its benchmark, and highlights a high-conviction environment for active value-oriented stock picking amidst extreme AI-driven market concentration.
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The RS Large Cap Value Strategy gained 5.77% net in Q4 2025, beating its benchmark, and highlights a high-conviction environment for active value-oriented stock picking amidst extreme AI-driven market concentration.
The Alger Small Cap Focus Fund underperformed its benchmark in Q3 2025 but remains structurally bullish on high-conviction secular growth trends, specifically AI infrastructure and enterprise digitization.
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The Alger Small Cap Focus Fund underperformed its benchmark in Q3 2025 but remains structurally bullish on high-conviction secular growth trends, specifically AI infrastructure and enterprise digitization.
Calamos CCD capitalizes on the Fed's monetary easing cycle and robust convertible bond issuance, delivering double-digit NAV returns in Q3 and maintaining a competitive 11.12% annualized distribution rate supported by leverage and active tech-sector positioning.
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Calamos CCD capitalizes on the Fed's monetary easing cycle and robust convertible bond issuance, delivering double-digit NAV returns in Q3 and maintaining a competitive 11.12% annualized distribution rate supported by leverage and active tech-sector positioning.
The Lord Abbett High Yield Fund delivered a strong +2.82% return in 3Q25, outperforming its benchmark by successfully executing a down-in-quality rotation to CCC-rated debt and capitalizing on the Fed's newly initiated rate-cutting cycle.
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The Lord Abbett High Yield Fund delivered a strong +2.82% return in 3Q25, outperforming its benchmark by successfully executing a down-in-quality rotation to CCC-rated debt and capitalizing on the Fed's newly initiated rate-cutting cycle.
