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.
KCM Small Cap Growth Composite posted a +5.44% net return in Q3 2025, lagging the benchmark due to a sharp, narrow rally in low-quality and unprofitable companies. The PMs remain disciplined, focusing on secular growth trends with solid unit economics over hype.
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KCM Small Cap Growth Composite posted a +5.44% net return in Q3 2025, lagging the benchmark due to a sharp, narrow rally in low-quality and unprofitable companies. The PMs remain disciplined, focusing on secular growth trends with solid unit economics over hype.
The Aristotle Small Cap Equity Fund posted a 3.16% gain in Q3 2025, underperforming the Russell 2000's 12.39% surge as low-quality and non-earning speculative stocks dominated the rally. Despite short-term headwinds, the manager remains highly confident in small-cap valuations and structural tailwinds.
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The Aristotle Small Cap Equity Fund posted a 3.16% gain in Q3 2025, underperforming the Russell 2000's 12.39% surge as low-quality and non-earning speculative stocks dominated the rally. Despite short-term headwinds, the manager remains highly confident in small-cap valuations and structural tailwinds.
Though hindered by a low-quality, high-beta Q2 2025 rally, Sawgrass expects a massive leadership shift toward small-cap quality compounders as historic valuation and concentration extremes inevitably snap back.
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Though hindered by a low-quality, high-beta Q2 2025 rally, Sawgrass expects a massive leadership shift toward small-cap quality compounders as historic valuation and concentration extremes inevitably snap back.
