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.
NCG suffered short-term relative underperformance in 3Q25 as speculative, low-quality stocks rallied, but they remain highly constructive on high-quality growth and expect historically cheap small caps to benefit significantly from the Fed's rate-cutting cycle.
Full Quick Take
NCG suffered short-term relative underperformance in 3Q25 as speculative, low-quality stocks rallied, but they remain highly constructive on high-quality growth and expect historically cheap small caps to benefit significantly from the Fed's rate-cutting cycle.
The Diamond Hill Small Cap Strategy returned 7.93% (net) in Q3 2025, trailing the Russell 2000's 12.39% rally. The fund remains highly disciplined, avoiding speculative lower-quality gainers and adding only one new name, Hurco Companies, amid a challenging valuation landscape.
Full Quick Take
The Diamond Hill Small Cap Strategy returned 7.93% (net) in Q3 2025, trailing the Russell 2000's 12.39% rally. The fund remains highly disciplined, avoiding speculative lower-quality gainers and adding only one new name, Hurco Companies, amid a challenging valuation landscape.
