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 initiated positions in Bonava and Scandic Hotels, re-entered Smartoptics on valuation weakness, and divested Rejlers over merger complexity.
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The manager initiated positions in Bonava and Scandic Hotels, re-entered Smartoptics on valuation weakness, and divested Rejlers over merger complexity.
The manager combines selective long compounders and tactical event-driven trades with rigorous downside limits, avoiding emotional over-commitment to deteriorating positions.
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The manager combines selective long compounders and tactical event-driven trades with rigorous downside limits, avoiding emotional over-commitment to deteriorating positions.
Benefiting from a rebound in growth stocks and easing macro headwinds. Despite widespread multiple compression, portfolio earnings growth continues to excel.
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Benefiting from a rebound in growth stocks and easing macro headwinds. Despite widespread multiple compression, portfolio earnings growth continues to excel.
The fund achieved positive absolute returns in FY25 but underperformed its benchmark due to an intentional underweight in extremely expensive Australian banks.
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The fund achieved positive absolute returns in FY25 but underperformed its benchmark due to an intentional underweight in extremely expensive Australian banks.
Turtle Creek argues that modern market structures (ETFs, AI, gamified retail) have broken short-term price efficiency. This creates a highly advantageous environment for patient value managers to buy mispriced companies at deep discounts.
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Turtle Creek argues that modern market structures (ETFs, AI, gamified retail) have broken short-term price efficiency. This creates a highly advantageous environment for patient value managers to buy mispriced companies at deep discounts.