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.
RM Capital experienced a challenging Q1 2026 with a -16.33% net return due to SaaS multiple compression and geopolitical headwinds. The manager is actively using this dislocation to aggressively pivot capital into deep-value fintech and asset-backed businesses offering significant margins of safety.
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RM Capital experienced a challenging Q1 2026 with a -16.33% net return due to SaaS multiple compression and geopolitical headwinds. The manager is actively using this dislocation to aggressively pivot capital into deep-value fintech and asset-backed businesses offering significant margins of safety.
Greenhaven Road Capital experienced a -9% YTD return due to multiple compression in software and asset managers, but remains highly constructive and heavily concentrated in its top ideas, betting on a reversal driven by solid fundamentals and upcoming major catalysts.
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Greenhaven Road Capital experienced a -9% YTD return due to multiple compression in software and asset managers, but remains highly constructive and heavily concentrated in its top ideas, betting on a reversal driven by solid fundamentals and upcoming major catalysts.
Sands Capital's International Growth strategy underperformed in Q3 2025 due to a sharp style rotation to value and multiple compression, but the managers proactively repositioned the portfolio into higher-conviction secular growth names.
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Sands Capital's International Growth strategy underperformed in Q3 2025 due to a sharp style rotation to value and multiple compression, but the managers proactively repositioned the portfolio into higher-conviction secular growth names.
