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 Lakehouse Small Companies Fund declined -7.5% in December, lagging the benchmark, but used the market pullback to initiate a position in Magellan and top up its holding in Cogstate.
Full Quick Take
The Lakehouse Small Companies Fund declined -7.5% in December, lagging the benchmark, but used the market pullback to initiate a position in Magellan and top up its holding in Cogstate.
The U.S. Concentrated Strategy posted a 2.39% net return in Q3 2025, lagging its value benchmark. The manager executed zero portfolio trades, maintaining steadfast conviction in detracted holdings like Keurig Dr Pepper and Molina Healthcare.
Full Quick Take
The U.S. Concentrated Strategy posted a 2.39% net return in Q3 2025, lagging its value benchmark. The manager executed zero portfolio trades, maintaining steadfast conviction in detracted holdings like Keurig Dr Pepper and Molina Healthcare.
Halvio Capital capitalized on Q2 volatility to build deep-value, asset-backed positions in Japanese net-nets, liquidating office REIT NLOP, capital-light compounder Cipher, and highly discounted F.I.L.A.
Full Quick Take
Halvio Capital capitalized on Q2 volatility to build deep-value, asset-backed positions in Japanese net-nets, liquidating office REIT NLOP, capital-light compounder Cipher, and highly discounted F.I.L.A.
Seven Corners Capital's equity portfolio gained approximately 17% in 2023, bringing its cumulative performance since 2020 to roughly 102%. The fund maintains a concentrated allocation across major deep-value and sum-of-the-parts positions including Pershing Square Holdings, Genworth Financial, Merrimack Pharmaceuticals, and Sandridge Energy, each benefiting from clear upcoming catalysts, asset discount narrowing, or capital return programs.
Full Quick Take
Seven Corners Capital's equity portfolio gained approximately 17% in 2023, bringing its cumulative performance since 2020 to roughly 102%. The fund maintains a concentrated allocation across major deep-value and sum-of-the-parts positions including Pershing Square Holdings, Genworth Financial, Merrimack Pharmaceuticals, and Sandridge Energy, each benefiting from clear upcoming catalysts, asset discount narrowing, or capital return programs.
