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.
FMI remains deeply cautious of the AI-driven market bubble and historic index concentration, choosing to position defensively in quality value stocks that offer robust downside protection.
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FMI remains deeply cautious of the AI-driven market bubble and historic index concentration, choosing to position defensively in quality value stocks that offer robust downside protection.
FMI is sounding the alarm on historically extreme market valuations and speculative AI spend. They remain defensively positioned in undervalued quality, small cap, and international equities, waiting for volatility to present opportunistic entries.
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FMI is sounding the alarm on historically extreme market valuations and speculative AI spend. They remain defensively positioned in undervalued quality, small cap, and international equities, waiting for volatility to present opportunistic entries.
FPA Crescent delivered an 8.36% return in Q2 2025, maintaining a cautious 63.5% risk asset allocation while capitalizing on a brief April market dip to deploy capital into high-conviction SMID and international positions.
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FPA Crescent delivered an 8.36% return in Q2 2025, maintaining a cautious 63.5% risk asset allocation while capitalizing on a brief April market dip to deploy capital into high-conviction SMID and international positions.
