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 Davis Real Estate Fund posted a disappointing -5.72% NAV return in 2025 due to valuation-agnostic index flows boosting expensive mega-caps at the expense of value-driven picks like Alexandria Real Estate. The fund is adjusting its benchmark-tracking process while remaining strictly committed to its selective, long-term valuation strategy.
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The Davis Real Estate Fund posted a disappointing -5.72% NAV return in 2025 due to valuation-agnostic index flows boosting expensive mega-caps at the expense of value-driven picks like Alexandria Real Estate. The fund is adjusting its benchmark-tracking process while remaining strictly committed to its selective, long-term valuation strategy.
