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.
Full Quick Take
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.
The fund is navigating a volatile market environment by maintaining high-conviction exposure to structural growth themes, such as AI infrastructure and electrification, while selectively shorting legacy operators. Recent de-escalation of geopolitical tensions has triggered a portfolio recovery, and the fund remains positioned to capitalize on macro-driven mispricings.
Full Quick Take
The fund is navigating a volatile market environment by maintaining high-conviction exposure to structural growth themes, such as AI infrastructure and electrification, while selectively shorting legacy operators. Recent de-escalation of geopolitical tensions has triggered a portfolio recovery, and the fund remains positioned to capitalize on macro-driven mispricings.
