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.
The Compounding Tortoise posted a -10.79% return for Q1 2026 due to severe valuation headwinds but remains highly committed to its concentrated quality-compounder strategy and key positions like Diploma PLC.
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The Compounding Tortoise posted a -10.79% return for Q1 2026 due to severe valuation headwinds but remains highly committed to its concentrated quality-compounder strategy and key positions like Diploma PLC.
Plural Partners Fund delivered a strong 21.9% net return in Q2 2025, taking advantage of market drawdowns to add to Watches of Switzerland and establish a new position in UK serial acquirer Judges Scientific.
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Plural Partners Fund delivered a strong 21.9% net return in Q2 2025, taking advantage of market drawdowns to add to Watches of Switzerland and establish a new position in UK serial acquirer Judges Scientific.
REQ Capital reported robust FY2024 returns of 23.0% (Global) and 17.6% (Nordic), driven by resilient cash flows and active M&A across their highly decentralized compounder holdings.
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REQ Capital reported robust FY2024 returns of 23.0% (Global) and 17.6% (Nordic), driven by resilient cash flows and active M&A across their highly decentralized compounder holdings.
Andvari's portfolio concentrates on proven serial acquirers in fragmented markets, particularly vertical market software and insurance brokerage. Holdings like Constellation Software and Arthur J. Gallagher create value through disciplined M&A strategies, acquiring 22+ businesses quarterly while offering permanent homes to sellers. The manager views these as semi-permanent holdings with multi-year consolidation runways ahead.
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Andvari's portfolio concentrates on proven serial acquirers in fragmented markets, particularly vertical market software and insurance brokerage. Holdings like Constellation Software and Arthur J. Gallagher create value through disciplined M&A strategies, acquiring 22+ businesses quarterly while offering permanent homes to sellers. The manager views these as semi-permanent holdings with multi-year consolidation runways ahead.
