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 Oakmark International Small Cap Fund underperformed its benchmark in Q4 2025 but continues to find attractive, discounted value opportunities internationally, initiating a new position in Japanese HR tech firm Visional.
Full Quick Take
The Oakmark International Small Cap Fund underperformed its benchmark in Q4 2025 but continues to find attractive, discounted value opportunities internationally, initiating a new position in Japanese HR tech firm Visional.
Aristotle's Small Cap Equity strategy returned 11.02% net in Q4 2023, lagging the Russell 2000 Index due to sector allocations and a low-quality market rally. The manager sees a strong setup for small-cap equities entering 2024, supported by multi-decade relative valuation discounts, stabilizing economic conditions, and superior relative earnings growth projections.
Full Quick Take
Aristotle's Small Cap Equity strategy returned 11.02% net in Q4 2023, lagging the Russell 2000 Index due to sector allocations and a low-quality market rally. The manager sees a strong setup for small-cap equities entering 2024, supported by multi-decade relative valuation discounts, stabilizing economic conditions, and superior relative earnings growth projections.
