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.
Portfolio pivoted from technology to biotechnology with Eli Lilly as largest position on GLP-1 growth, while maintaining AI exposure across infrastructure and chips. Inflation at 4.2% driving Fed toward rate hikes.
Full Quick Take
Portfolio pivoted from technology to biotechnology with Eli Lilly as largest position on GLP-1 growth, while maintaining AI exposure across infrastructure and chips. Inflation at 4.2% driving Fed toward rate hikes.
Outperforming its benchmark but trailing the S&P 500. The fund is leveraging the market sell-off in growth and software stocks to upgrade portfolio quality, focusing heavily on AI infrastructure and resilient, founder-led software leaders.
Full Quick Take
Outperforming its benchmark but trailing the S&P 500. The fund is leveraging the market sell-off in growth and software stocks to upgrade portfolio quality, focusing heavily on AI infrastructure and resilient, founder-led software leaders.
Lagging its benchmark due to software sector underperformance. The fund selectively rotated out of CrowdStrike and Okta into Figma and Duolingo, remaining constructive on software's long-term integration of AI.
Full Quick Take
Lagging its benchmark due to software sector underperformance. The fund selectively rotated out of CrowdStrike and Okta into Figma and Duolingo, remaining constructive on software's long-term integration of AI.