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.
Militia Capital achieved a +64.3% net return in 2025 and plans to start an ETF advisory business as a stepping stone to building its own clearing broker to bypass high middleman fees.
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Militia Capital achieved a +64.3% net return in 2025 and plans to start an ETF advisory business as a stepping stone to building its own clearing broker to bypass high middleman fees.
Cedar Grove Capital's multi-strategy approach delivered 38.5% returns in 2024 by combining small-cap core longs with special situations and hedging. Despite strong performance, the manager is increasingly defensive heading into 2025, citing Trump policy uncertainty, speculative market excess, and dangerous concentration risks. They're raising cash and emphasizing protection strategies over aggressive deployment.
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Cedar Grove Capital's multi-strategy approach delivered 38.5% returns in 2024 by combining small-cap core longs with special situations and hedging. Despite strong performance, the manager is increasingly defensive heading into 2025, citing Trump policy uncertainty, speculative market excess, and dangerous concentration risks. They're raising cash and emphasizing protection strategies over aggressive deployment.
