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.
BDL Capital Management has shifted to a cautious, defensive stance in Q1 2026, dropping its cyclical exposure to zero and heavily trimming net exposure to protect capital against Middle East recessionary risks. While tactically hedged, the fund maintains highly concentrated long positions in resilient, undervalued European companies.
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BDL Capital Management has shifted to a cautious, defensive stance in Q1 2026, dropping its cyclical exposure to zero and heavily trimming net exposure to protect capital against Middle East recessionary risks. While tactically hedged, the fund maintains highly concentrated long positions in resilient, undervalued European companies.
Confluence has actively pivoted toward higher risk assets by expanding exposures to international developed equities and balancing domestic equities at a 50/50 growth-value split, while staying completely clear of US small caps.
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Confluence has actively pivoted toward higher risk assets by expanding exposures to international developed equities and balancing domestic equities at a 50/50 growth-value split, while staying completely clear of US small caps.
Packer & Co remains extremely cautious of the market's tech-driven rally, warning of an impending recession driven by aggressive rate hikes and record sovereign debt. The fund holds approximately 50% in defensive cash, gold, and short-term bonds, allocating its equity exposure to cheap, cash-generative energy and telecommunications leaders.
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Packer & Co remains extremely cautious of the market's tech-driven rally, warning of an impending recession driven by aggressive rate hikes and record sovereign debt. The fund holds approximately 50% in defensive cash, gold, and short-term bonds, allocating its equity exposure to cheap, cash-generative energy and telecommunications leaders.
Coho's relative value strategy underperformed in 2023 due to a narrow, multiple-expansion-driven tech rally and defensive sector headwinds, but the firm remains strictly disciplined, leveraging Q4 portfolio upgrades to position for a highly constructive 2024.
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Coho's relative value strategy underperformed in 2023 due to a narrow, multiple-expansion-driven tech rally and defensive sector headwinds, but the firm remains strictly disciplined, leveraging Q4 portfolio upgrades to position for a highly constructive 2024.
