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.
Massif Capital's 16% Q1 return reflects their geography-first commodity thesis, where geopolitical control matters more than cost curves. Norwegian energy and Portuguese tungsten exemplify Western-controlled supply chains benefiting from fragmentation. Oil positioned for structural premiums while critical minerals capitalize on defense spending and Chinese export restrictions.
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Massif Capital's 16% Q1 return reflects their geography-first commodity thesis, where geopolitical control matters more than cost curves. Norwegian energy and Portuguese tungsten exemplify Western-controlled supply chains benefiting from fragmentation. Oil positioned for structural premiums while critical minerals capitalize on defense spending and Chinese export restrictions.
