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.
Diranko Capital returned 7.7% in Q2 2026, lagging the small-cap benchmark's 16.6% but delivering 15.7% annualized since inception. Manager views current market as overheated with extreme valuations in large caps, while small, overlooked companies offer exceptional opportunities as capital chases AI. Runs concentrated 10-15 position portfolio focused on idiosyncratic drivers, meaningful margin of safety, and strict position sizing to avoid permanent capital loss.
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Diranko Capital returned 7.7% in Q2 2026, lagging the small-cap benchmark's 16.6% but delivering 15.7% annualized since inception. Manager views current market as overheated with extreme valuations in large caps, while small, overlooked companies offer exceptional opportunities as capital chases AI. Runs concentrated 10-15 position portfolio focused on idiosyncratic drivers, meaningful margin of safety, and strict position sizing to avoid permanent capital loss.
While macroeconomic headwinds like inflation, interest rate shifts, and policy uncertainties persist, investors should remain fully invested in high-quality businesses. Utilizing a quality-focused strategy helps limit downside risks while capturing upside potential as long-term trends like AI productivity gains gradually materialize.
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While macroeconomic headwinds like inflation, interest rate shifts, and policy uncertainties persist, investors should remain fully invested in high-quality businesses. Utilizing a quality-focused strategy helps limit downside risks while capturing upside potential as long-term trends like AI productivity gains gradually materialize.
The Artisan Focus Fund delivered outstanding Q2 2025 outperformance of 870 bps over the benchmark, fueled by positive earnings revisions. The fund is highly bullish on the structural growth of AI infrastructure, particularly favoring leading silicon and utility/power enablers.
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The Artisan Focus Fund delivered outstanding Q2 2025 outperformance of 870 bps over the benchmark, fueled by positive earnings revisions. The fund is highly bullish on the structural growth of AI infrastructure, particularly favoring leading silicon and utility/power enablers.
Vision Capital Fund delivers long-term capital appreciation by concentrating investments in exceptional global compounders benefiting from structural growth tailwinds. Emphasizing business quality, sustainable earnings growth, and psychological patience over market timing, the fund views market volatility as a favorable opportunity to deploy capital into dominant market leaders.
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Vision Capital Fund delivers long-term capital appreciation by concentrating investments in exceptional global compounders benefiting from structural growth tailwinds. Emphasizing business quality, sustainable earnings growth, and psychological patience over market timing, the fund views market volatility as a favorable opportunity to deploy capital into dominant market leaders.
