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.
SouthernSun underperformed in Q2 2026 by avoiding speculative AI concentration that drove index returns. The manager took profits in AI names and maintains disciplined underweight positioning, questioning market stability. Strong results from Extreme Networks and Generac were offset by Darling's oil-price-driven decline and Broadridge's AI-fear selloff. Extensive field research continues across niche industrials and out-of-favor opportunities, with conviction grounded in fundamentals not sentiment.
Full Quick Take
SouthernSun underperformed in Q2 2026 by avoiding speculative AI concentration that drove index returns. The manager took profits in AI names and maintains disciplined underweight positioning, questioning market stability. Strong results from Extreme Networks and Generac were offset by Darling's oil-price-driven decline and Broadridge's AI-fear selloff. Extensive field research continues across niche industrials and out-of-favor opportunities, with conviction grounded in fundamentals not sentiment.
SouthernSun outperformed in Q1 despite banking volatility and economic uncertainty. Strong contributors in HVAC distribution and cash management services offset weakness in packaging. The team rotated capital from mature positions into Louisiana-Pacific's building products transformation story. Manager remains selective on valuations while finding overlooked opportunities with strong fundamentals and competitive advantages.
Full Quick Take
SouthernSun outperformed in Q1 despite banking volatility and economic uncertainty. Strong contributors in HVAC distribution and cash management services offset weakness in packaging. The team rotated capital from mature positions into Louisiana-Pacific's building products transformation story. Manager remains selective on valuations while finding overlooked opportunities with strong fundamentals and competitive advantages.
