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 manager navigated a challenging second quarter impacted by meme stock volatility and short sizing missteps. Portfolio allocation shifted toward quality compounders like Visa and CRH alongside mispriced regional banks positioned for yield curve normalization. The fund also established long exposure in telecom cyclicals, while exiting select AI high-flyers and scaling back European small cap margin risk.
Full Quick Take
The manager navigated a challenging second quarter impacted by meme stock volatility and short sizing missteps. Portfolio allocation shifted toward quality compounders like Visa and CRH alongside mispriced regional banks positioned for yield curve normalization. The fund also established long exposure in telecom cyclicals, while exiting select AI high-flyers and scaling back European small cap margin risk.
Apis Flagship Fund returned -1.0% in July 2024 as short positions in speculative North American companies detracted amid rate-cut optimism. Long positions in Asian industrials and gaming provided offsetting support, maintaining a disciplined 55% net long stance.
Full Quick Take
Apis Flagship Fund returned -1.0% in July 2024 as short positions in speculative North American companies detracted amid rate-cut optimism. Long positions in Asian industrials and gaming provided offsetting support, maintaining a disciplined 55% net long stance.
