Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
| Quarter ↕ | Letter Date ↓ | Fund Name ↕ | QTD ↕ | YTD ↕ | Tickers | Keywords / Themes | Quick Take | Pitches | Current Positioning |
|---|---|---|---|---|---|---|---|---|---|
| - | -5.7% | Portfolio underperformed despite strong operational progress across holdings, with businesses now trading at lower valuations. MercadoLibre accelerated growth through reinvestment while Spotify expanded margins with AI monetization. Semiconductor leaders TSMC and ASML benefited from AI infrastructure demand. Added SK Hynix, Lonza, and CATL for exposure to memory, biologics, and batteries. Team views combination of operating progress at reduced prices as precursor to strong long-term returns. Full Quick Take Portfolio underperformed despite strong operational progress across holdings, with businesses now trading at lower valuations. MercadoLibre accelerated growth through reinvestment while Spotify expanded margins with AI monetization. Semiconductor leaders TSMC and ASML benefited from AI infrastructure demand. Added SK Hynix, Lonza, and CATL for exposure to memory, biologics, and batteries. Team views combination of operating progress at reduced prices as precursor to strong long-term returns. | |||||||
| - | - | TIFF navigates concentrated AI-driven market leadership with caution, flagging demanding valuations in semiconductors and unprecedented IPO supply from SpaceX, Anthropic, and Open AI that may pressure broader equities. The firm maintains benchmark-aware positioning while introducing factor-neutral overlays to reduce unintended style risk. Forward focus includes evaluating cross-sector AI exposure, adding Japan activists, and shifting toward systematic strategies anticipating higher volatility amid constructive but complex macro backdrop. Full Quick Take TIFF navigates concentrated AI-driven market leadership with caution, flagging demanding valuations in semiconductors and unprecedented IPO supply from SpaceX, Anthropic, and Open AI that may pressure broader equities. The firm maintains benchmark-aware positioning while introducing factor-neutral overlays to reduce unintended style risk. Forward focus includes evaluating cross-sector AI exposure, adding Japan activists, and shifting toward systematic strategies anticipating higher volatility amid constructive but complex macro backdrop. | - | ||||||
| - | - | - | Marcuard Heritage views Q2 2026 as an inflationary boom with resilient nominal growth but persistent inflation risks. The preliminary US-Iran accord reduced Middle East tail risks while AI-driven capex supports technology and semiconductors. Stagflation is the main downside risk. The firm emphasizes capital preservation through short-duration credit and Liquid Alternatives, avoiding broad equity beta given elevated valuations and rising dispersion. Full Quick Take Marcuard Heritage views Q2 2026 as an inflationary boom with resilient nominal growth but persistent inflation risks. The preliminary US-Iran accord reduced Middle East tail risks while AI-driven capex supports technology and semiconductors. Stagflation is the main downside risk. The firm emphasizes capital preservation through short-duration credit and Liquid Alternatives, avoiding broad equity beta given elevated valuations and rising dispersion. | - | |||||
| +9.9% | +20.9% | Reaves delivered strong outperformance in the second quarter of 2026 as market leadership broadened toward physical infrastructure enabling artificial intelligence. Expanding electricity demand and hyperscaler capital expenditures provide robust multi-year tailwinds for power generation, grid engineering, and optical communications, outweighing transient geopolitical volatility and commodity price swings across core holdings. Full Quick Take Reaves delivered strong outperformance in the second quarter of 2026 as market leadership broadened toward physical infrastructure enabling artificial intelligence. Expanding electricity demand and hyperscaler capital expenditures provide robust multi-year tailwinds for power generation, grid engineering, and optical communications, outweighing transient geopolitical volatility and commodity price swings across core holdings. | |||||||
| - | - | ClearBridge International Growth ADR Strategy outperformed the MSCI EAFE Index in Q2 2026 by aggressively rotating capital into AI infrastructure hardware bottlenecks—specifically semiconductors, optical networking, and power management—while ramping Japan exposure to capitalize on corporate governance reforms and ROE improvement. Full Quick Take ClearBridge International Growth ADR Strategy outperformed the MSCI EAFE Index in Q2 2026 by aggressively rotating capital into AI infrastructure hardware bottlenecks—specifically semiconductors, optical networking, and power management—while ramping Japan exposure to capitalize on corporate governance reforms and ROE improvement. | - | ||||||
| +10.0% | +10.0% | Palm Harbour Capital's concentrated European value strategy delivered -0.56% in Q1 2026 despite strong individual contributors including South Korean battery maker Vitzrocell (+95.5%) and Norwegian oil producer Vår Energi. The portfolio trades at attractive 6.3x P/E with significant upside potential. Management remains extremely optimistic about medium-term prospects while maintaining disciplined long-term value approach. Full Quick Take Palm Harbour Capital's concentrated European value strategy delivered -0.56% in Q1 2026 despite strong individual contributors including South Korean battery maker Vitzrocell (+95.5%) and Norwegian oil producer Vår Energi. The portfolio trades at attractive 6.3x P/E with significant upside potential. Management remains extremely optimistic about medium-term prospects while maintaining disciplined long-term value approach. | |||||||
| -32.7% | -32.7% | Kathmandu Capital suffered a severe -32.68% net loss in Q1 2026 due to overtrading during Middle East geopolitical escalation, but remains fully invested in Asia-centric AI hardware and advanced semiconductor supply chain enablers, particularly in Taiwan. Full Quick Take Kathmandu Capital suffered a severe -32.68% net loss in Q1 2026 due to overtrading during Middle East geopolitical escalation, but remains fully invested in Asia-centric AI hardware and advanced semiconductor supply chain enablers, particularly in Taiwan. | |||||||
| +3.1% | +3.1% | The Seafarer Overseas Growth and Income Fund remains anchored in a disciplined, bottom-up approach to identify resilient businesses with sustainable earnings power across emerging markets. Despite recent Middle Eastern geopolitical volatility causing significant market pullbacks in March, the fund prioritizes long-term compounding and robust non-U.S. dollar growth over short-term tactical rotations, maintaining confidence in its holdings' fundamental durability. Full Quick Take The Seafarer Overseas Growth and Income Fund remains anchored in a disciplined, bottom-up approach to identify resilient businesses with sustainable earnings power across emerging markets. Despite recent Middle Eastern geopolitical volatility causing significant market pullbacks in March, the fund prioritizes long-term compounding and robust non-U.S. dollar growth over short-term tactical rotations, maintaining confidence in its holdings' fundamental durability. | |||||||
| +1.1% | +1.1% | AI and Data Center Infrastructure Power, Private Market Value Discipline, Additional Keywords & Themes | The Ariel Appreciation Fund posted a +1.14% return for the quarter, underperforming its benchmarks amidst a highly volatile and risk-off market. The fund is taking a defensive, cautious posture, relying on bottom-up stock selection to navigate persistent macroeconomic and geopolitical risks. Full Quick Take The Ariel Appreciation Fund posted a +1.14% return for the quarter, underperforming its benchmarks amidst a highly volatile and risk-off market. The fund is taking a defensive, cautious posture, relying on bottom-up stock selection to navigate persistent macroeconomic and geopolitical risks. | - | |||||
| - | +10.3% | Multipolar World & Resilient Supply Chains, Critical Materials & Electrification, Additional Keywords & Themes | Tall Oak Capital delivered robust 2025 returns and is positioning portfolios to benefit from a structural shift toward a multipolar, re-shored global economy by emphasizing automation and transition materials. Full Quick Take Tall Oak Capital delivered robust 2025 returns and is positioning portfolios to benefit from a structural shift toward a multipolar, re-shored global economy by emphasizing automation and transition materials. | - | |||||
| +2.0% | +28.0% | Tourlite returned 2.8% in 2025, lagging behind benchmarks due to early exits on key longs despite strong alpha generation from its short book. The manager anticipates a bifurcated 2026, combining near-term equity optimism with late-year inflation concerns. Full Quick Take Tourlite returned 2.8% in 2025, lagging behind benchmarks due to early exits on key longs despite strong alpha generation from its short book. The manager anticipates a bifurcated 2026, combining near-term equity optimism with late-year inflation concerns. | - | ||||||
| +6.7% | +41.5% | The Hood River International Opportunity Fund capped off a stellar 2025 with a +41.49% return, capitalizing on a structural shift toward undervalued international equities and adding high-conviction holdings in AI robotics and mining technology. Full Quick Take The Hood River International Opportunity Fund capped off a stellar 2025 with a +41.49% return, capitalizing on a structural shift toward undervalued international equities and adding high-conviction holdings in AI robotics and mining technology. | - | ||||||
| +42.2% | +27.6% | The fund highlights that while US equity returns are unsustainably concentrated in a few AI platform mega-caps, international equities offer a safer, cheaper, and more diversified way to capture the physical AI infrastructure buildout. Full Quick Take The fund highlights that while US equity returns are unsustainably concentrated in a few AI platform mega-caps, international equities offer a safer, cheaper, and more diversified way to capture the physical AI infrastructure buildout. | - | ||||||
| +38.7% | +28.4% | The Diamond Hill International Strategy returned 3.87% (net) in Q4 2025, lagging its benchmark's 5.05% gain. The team actively recycled capital from fully valued positions into high-conviction opportunities in global semiconductors, defense, and financials. Full Quick Take The Diamond Hill International Strategy returned 3.87% (net) in Q4 2025, lagging its benchmark's 5.05% gain. The team actively recycled capital from fully valued positions into high-conviction opportunities in global semiconductors, defense, and financials. | - | ||||||
| -2.9% | +6.0% | Jackson Peak Capital returned -2.9% in Q3 2025 amid a highly speculative, momentum-driven market, but remains up a strong +60.4% YTD. Full Quick Take Jackson Peak Capital returned -2.9% in Q3 2025 amid a highly speculative, momentum-driven market, but remains up a strong +60.4% YTD. | |||||||
| -36.0% | +4.0% | Greenlight Capital sits out the AI infrastructure boom, warning of a multi-trillion dollar mathematical mismatch, while finding selective value in PG&E and clinical biotech. Full Quick Take Greenlight Capital sits out the AI infrastructure boom, warning of a multi-trillion dollar mathematical mismatch, while finding selective value in PG&E and clinical biotech. | - | ||||||
| +47.7% | +24.5% | Polaris warns against high tech valuations in a 'two-speed' economy, opting instead for solid, attractively priced cyclicals, financials, and infrastructure plays. Full Quick Take Polaris warns against high tech valuations in a 'two-speed' economy, opting instead for solid, attractively priced cyclicals, financials, and infrastructure plays. | - | ||||||
| +7.1% | +10.1% | The Madison Sustainable Equity fund returned 7.09% in Q3, underperforming the S&P 500's 8.12% as strength in AI infrastructure holdings was offset by pullbacks in secular consumer and semiconductor names. The managers eliminated Adobe due to competition but remain highly committed to their core quality-first, bottom-up approach. Full Quick Take The Madison Sustainable Equity fund returned 7.09% in Q3, underperforming the S&P 500's 8.12% as strength in AI infrastructure holdings was offset by pullbacks in secular consumer and semiconductor names. The managers eliminated Adobe due to competition but remain highly committed to their core quality-first, bottom-up approach. | |||||||
| +19.1% | - | The Hood River International Opportunity Fund posted an exceptional 19.08% return in Q3 2025, outperforming its benchmark by 12.40% through precise stock selection in under-analyzed international small-caps. Full Quick Take The Hood River International Opportunity Fund posted an exceptional 19.08% return in Q3 2025, outperforming its benchmark by 12.40% through precise stock selection in under-analyzed international small-caps. | - | ||||||
| +33.8% | +20.1% | The fund experienced modest gains of 3.38% in Q3 2025, underperforming its benchmark due to transient pullbacks in key growth holdings, while adding new exposure to global leaders in EV batteries and biotechnology. Full Quick Take The fund experienced modest gains of 3.38% in Q3 2025, underperforming its benchmark due to transient pullbacks in key growth holdings, while adding new exposure to global leaders in EV batteries and biotechnology. | - | ||||||
| +5.0% | +23.1% | The portfolio underperformed its benchmark in Q3 2025 due to stock selection headwinds in SaaS and analog semiconductors, though it capitalized on European financial and industrial initiations. Full Quick Take The portfolio underperformed its benchmark in Q3 2025 due to stock selection headwinds in SaaS and analog semiconductors, though it capitalized on European financial and industrial initiations. | - | ||||||
| +6.5% | +23.6% | Diamond Hill International Strategy modestly trailed its index in Q3 2025 despite absolute gains, utilizing the quarter's volatility to deploy capital into seven new positions including gold-linked proxies and undervalued international compounders. Full Quick Take Diamond Hill International Strategy modestly trailed its index in Q3 2025 despite absolute gains, utilizing the quarter's volatility to deploy capital into seven new positions including gold-linked proxies and undervalued international compounders. | - | ||||||
| +12.4% | - | AI Infrastructure & Global Tech Supply Chains, China Policy & Domestic Demand Support, Additional Keywords & Themes | The American Century Emerging Markets Fund achieved strong outperformance in Q3 2025, buoyed by the global AI infrastructure buildout and a recovery in Chinese markets. Management remains constructive on EM relative to developed markets, prioritizing companies with strong financials and attractive valuations. Full Quick Take The American Century Emerging Markets Fund achieved strong outperformance in Q3 2025, buoyed by the global AI infrastructure buildout and a recovery in Chinese markets. Management remains constructive on EM relative to developed markets, prioritizing companies with strong financials and attractive valuations. | - | |||||
| +10.9% | +31.8% | Baron Emerging Markets Fund outperformed its index in Q3 2025 with a 10.89% gain, fueled by global rate cuts and secular AI demand. The manager is highly bullish on China's competitive AI advantages and India's looming earnings upgrade cycle. Full Quick Take Baron Emerging Markets Fund outperformed its index in Q3 2025 with a 10.89% gain, fueled by global rate cuts and secular AI demand. The manager is highly bullish on China's competitive AI advantages and India's looming earnings upgrade cycle. | - | ||||||
| -1.0% | -26.0% | The fund posted a flat quarter in EUR terms (-0.1%) as USD headwind offset strong underlying equity performance. The managers continue to shun highly priced speculative indices in favor of unloved cash-generative value franchises, ending the quarter with 15.1% cash. Full Quick Take The fund posted a flat quarter in EUR terms (-0.1%) as USD headwind offset strong underlying equity performance. The managers continue to shun highly priced speculative indices in favor of unloved cash-generative value franchises, ending the quarter with 15.1% cash. | |||||||
| - | - | Zeno highlights its high-conviction position in Texas Instruments, arguing that the company's aggressive in-house US manufacturing expansion and focus on long-lived catalog analog chips will generate superior long-term returns despite short-term cyclical headwinds. Full Quick Take Zeno highlights its high-conviction position in Texas Instruments, arguing that the company's aggressive in-house US manufacturing expansion and focus on long-lived catalog analog chips will generate superior long-term returns despite short-term cyclical headwinds. | |||||||
| +6.9% | +6.4% | Third Avenue's Real Estate Value Fund continues to leverage macroeconomic supply chain reshoring and housing deficits, building high-conviction positions in Prologis, Wesco, and Champion Homes at historically cheap valuations. Full Quick Take Third Avenue's Real Estate Value Fund continues to leverage macroeconomic supply chain reshoring and housing deficits, building high-conviction positions in Prologis, Wesco, and Champion Homes at historically cheap valuations. | |||||||
| +3.7% | +2.9% | - | Apollo Asia Fund delivered a 3.7% NAV return in 2Q25. The manager emphasizes navigating geopolitical turmoil, infrastructure security issues, and ecological limits to growth by focusing on highly resilient Asian companies. Full Quick Take Apollo Asia Fund delivered a 3.7% NAV return in 2Q25. The manager emphasizes navigating geopolitical turmoil, infrastructure security issues, and ecological limits to growth by focusing on highly resilient Asian companies. | - | |||||
| - | -7.0% | The strategy continues to capture strong structural upside through dominant semiconductor holdings while prudently recycling profits into overlooked Chinese industrial giants and temporarily depressed Brazilian compounders. The manager maintains a highly constructive view, emphasizing that emerging markets are deeply under-owned despite housing the world's most vital technological and logistical infrastructure. Full Quick Take The strategy continues to capture strong structural upside through dominant semiconductor holdings while prudently recycling profits into overlooked Chinese industrial giants and temporarily depressed Brazilian compounders. The manager maintains a highly constructive view, emphasizing that emerging markets are deeply under-owned despite housing the world's most vital technological and logistical infrastructure. | |||||||
| +1.9% | -6.5% | The Heartland Value Plus Fund gained 1.86% in 2Q25, underperforming its benchmark, but the managers are increasingly optimistic about small-caps due to improving earnings projections and strong insider buying, favoring companies with robust self-help margin expansion strategies. Full Quick Take The Heartland Value Plus Fund gained 1.86% in 2Q25, underperforming its benchmark, but the managers are increasingly optimistic about small-caps due to improving earnings projections and strong insider buying, favoring companies with robust self-help margin expansion strategies. | |||||||
| +12.1% | - | The fund outperformed its benchmark in Q2 2025 with a 12.14% return, driven by strength in industrials and timely adjustments in financial services holdings amid shifting global tariff policies. Full Quick Take The fund outperformed its benchmark in Q2 2025 with a 12.14% return, driven by strength in industrials and timely adjustments in financial services holdings amid shifting global tariff policies. | - | ||||||
| +19.5% | - | The Columbia Seligman Global Technology Fund posted a strong 19.52% return in Q2 2025, but lagged its benchmark's 23.18% surge primarily due to an underweight position in NVIDIA. The manager remains constructive on secular AI infrastructure and cybersecurity plays while managing headwinds from upcoming tariff resolutions and a potential macro slowdown. Full Quick Take The Columbia Seligman Global Technology Fund posted a strong 19.52% return in Q2 2025, but lagged its benchmark's 23.18% surge primarily due to an underweight position in NVIDIA. The manager remains constructive on secular AI infrastructure and cybersecurity plays while managing headwinds from upcoming tariff resolutions and a potential macro slowdown. | |||||||
| +21.7% | +14.4% | Sands Capital's Global Growth strategy posted an exceptional 21.7% net return for Q2 2025, actively repositioning capital away from stagnant growth stories like Nike and Airbnb into higher-conviction opportunities in AI, premium sportswear, and healthcare IT. Full Quick Take Sands Capital's Global Growth strategy posted an exceptional 21.7% net return for Q2 2025, actively repositioning capital away from stagnant growth stories like Nike and Airbnb into higher-conviction opportunities in AI, premium sportswear, and healthcare IT. | |||||||
| +18.1% | +19.4% | Sands Capital International Growth beat its benchmark by 6.1% in Q2 2025. The fund recycled capital out of weaker moats (Lonza, Zalando) into higher-quality secular growth plays (Galderma, On Holding, Pro Medicus). Full Quick Take Sands Capital International Growth beat its benchmark by 6.1% in Q2 2025. The fund recycled capital out of weaker moats (Lonza, Zalando) into higher-quality secular growth plays (Galderma, On Holding, Pro Medicus). | |||||||
| +12.0% | - | Small-cap growth stocks experienced a volatile Q2 2025 but finished strong as tariff fears eased. The fund remains constructive on secular themes like AI infrastructure, aerospace, and healthcare recovery. Full Quick Take Small-cap growth stocks experienced a volatile Q2 2025 but finished strong as tariff fears eased. The fund remains constructive on secular themes like AI infrastructure, aerospace, and healthcare recovery. | |||||||
| +11.8% | +11.8% | abrdn Emerging Markets Fund returned 11.78% in Q2 2025, slightly lagging its benchmark. Despite drag from Chinese consumer weakness and Indian corrections, the fund remains constructive on EMs due to secular AI tech demand and currency tailwinds from a declining US dollar. Full Quick Take abrdn Emerging Markets Fund returned 11.78% in Q2 2025, slightly lagging its benchmark. Despite drag from Chinese consumer weakness and Indian corrections, the fund remains constructive on EMs due to secular AI tech demand and currency tailwinds from a declining US dollar. | - | ||||||
| +6.5% | +17.0% | The Invesco Small Cap Value Fund outperformed its benchmark in Q2 2025, capitalizing on market volatility to purchase undervalued small-caps with robust long-term upside to intrinsic value. Full Quick Take The Invesco Small Cap Value Fund outperformed its benchmark in Q2 2025, capitalizing on market volatility to purchase undervalued small-caps with robust long-term upside to intrinsic value. | - | ||||||
| - | +20.0% | Gymkhana Partners rebounded to +2% YTD in Q2 2025, actively redeploying capital from fully-valued holdings into high-conviction, undervalued Indian industrial and agricultural compounders during early-year market corrections. Full Quick Take Gymkhana Partners rebounded to +2% YTD in Q2 2025, actively redeploying capital from fully-valued holdings into high-conviction, undervalued Indian industrial and agricultural compounders during early-year market corrections. | - | ||||||
| - | +49.6% | Bramshill's All Weather Income Strategy targets a steady 8%+ dividend yield by rotating into high-coverage pass-through securities like MLPs, BDCs, and energy producers that benefit from structurally high inflation and supply chain frictions. Full Quick Take Bramshill's All Weather Income Strategy targets a steady 8%+ dividend yield by rotating into high-coverage pass-through securities like MLPs, BDCs, and energy producers that benefit from structurally high inflation and supply chain frictions. | - | ||||||
| +27.0% | +15.4% | Gate City delivered a solid 15.4% net return in 2025 and is doubling down on its 'productive real assets' thesis, buying the dip in agriculture/materials plays to protect capital against U.S. dollar debasement. Full Quick Take Gate City delivered a solid 15.4% net return in 2025 and is doubling down on its 'productive real assets' thesis, buying the dip in agriculture/materials plays to protect capital against U.S. dollar debasement. | |||||||
| +4.0% | +12.1% | Massif Capital delivered 12.1% returns in 2024 led by Siemens Energy's 323% gain. Portfolio maintains exposure to mining and energy transition themes through lithium, gold, tin, and copper positions. Manager approaches 2025 cautiously given deteriorating market breadth and elevated valuations, focusing on industrials with strong balance sheets and counter-cyclical management capabilities. Full Quick Take Massif Capital delivered 12.1% returns in 2024 led by Siemens Energy's 323% gain. Portfolio maintains exposure to mining and energy transition themes through lithium, gold, tin, and copper positions. Manager approaches 2025 cautiously given deteriorating market breadth and elevated valuations, focusing on industrials with strong balance sheets and counter-cyclical management capabilities. | - | ||||||
| +4.0% | +26.3% | Aristotle Core Equity Fund outperformed the S&P 500 in Q4 2024 with a 3.96% return, bringing YTD performance to 26.26%. Gains were led by Broadcom and Chart Industries. The fund added GE Aerospace and CrowdStrike while exiting Spirit AeroSystems and Microchip Technology. Management remains focused on bottom-up secular compounders entering 2025. Full Quick Take Aristotle Core Equity Fund outperformed the S&P 500 in Q4 2024 with a 3.96% return, bringing YTD performance to 26.26%. Gains were led by Broadcom and Chart Industries. The fund added GE Aerospace and CrowdStrike while exiting Spirit AeroSystems and Microchip Technology. Management remains focused on bottom-up secular compounders entering 2025. | |||||||
| +14.0% | +8.5% | Apis Deep Value Fund posted an 8.5% return in 2024, capitalizing on strong small-cap stock picking in ex-US markets and niche secular growth fields like data centers and defense, while keeping short exposure to structural capital-consumers. Full Quick Take Apis Deep Value Fund posted an 8.5% return in 2024, capitalizing on strong small-cap stock picking in ex-US markets and niche secular growth fields like data centers and defense, while keeping short exposure to structural capital-consumers. | - | ||||||
| - | +1.4% | - | Arnott Opportunities posted -2.72% in October amid mixed global conditions, with Energy and UK themes detracting. The fund reduced short positions in Luxury and Battery themes after significant declines. Key focus on Japan as potential end of ultra-loose monetary policy could eliminate decades-long liquidity backstop for Western assets, creating asymmetric opportunities. Full Quick Take Arnott Opportunities posted -2.72% in October amid mixed global conditions, with Energy and UK themes detracting. The fund reduced short positions in Luxury and Battery themes after significant declines. Key focus on Japan as potential end of ultra-loose monetary policy could eliminate decades-long liquidity backstop for Western assets, creating asymmetric opportunities. | - | |||||
| - | - | Jensen highlights BTRY's breakthrough thin-film solid-state battery technology that runs ten times longer than lithium-ion batteries, alongside Toyota's 2027 solid-state car battery launch. The shift could accelerate electrification, increase lithium demand by 35%, and potentially displace green hydrogen in transportation applications. Full Quick Take Jensen highlights BTRY's breakthrough thin-film solid-state battery technology that runs ten times longer than lithium-ion batteries, alongside Toyota's 2027 solid-state car battery launch. The shift could accelerate electrification, increase lithium demand by 35%, and potentially displace green hydrogen in transportation applications. | - | ||||||
| - | - | Conestoga's Small Cap strategy underperformed in Q2 2023 due to negative stock selection in Industrials and lack of exposure to surging computer hardware. Supply chain disruptions and defense budget uncertainty weighed on key holdings like Mercury Systems. The firm maintains conviction in its high quality conservative growth approach targeting companies capable of multi-cycle growth. Full Quick Take Conestoga's Small Cap strategy underperformed in Q2 2023 due to negative stock selection in Industrials and lack of exposure to surging computer hardware. Supply chain disruptions and defense budget uncertainty weighed on key holdings like Mercury Systems. The firm maintains conviction in its high quality conservative growth approach targeting companies capable of multi-cycle growth. | - | ||||||
| -3.8% | +1.0% | Rondure Global Advisors seeks long-term capital appreciation by investing in under-followed, high-quality international and emerging market small-cap companies at attractive valuations. While the portfolio experienced short-term underperformance due to a speculative, narrow US mega-cap growth rally, the manager maintains high conviction in its defensive, bottom-up holdings, positioning the funds to capture substantial upside once global inflation and the US dollar peak. Full Quick Take Rondure Global Advisors seeks long-term capital appreciation by investing in under-followed, high-quality international and emerging market small-cap companies at attractive valuations. While the portfolio experienced short-term underperformance due to a speculative, narrow US mega-cap growth rally, the manager maintains high conviction in its defensive, bottom-up holdings, positioning the funds to capture substantial upside once global inflation and the US dollar peak. | |||||||
| +1.5% | - | Dynasty Trust targets family-controlled companies trading at deep discounts. Core holdings SBM and Volkswagen offer compelling value at 6x and 2.5x fair value respectively. Catalysts include potential battery and luxury auto IPOs. Q1 return of +1.52% driven by Madison Square Garden and Alphabet gains, while European luxury holdings recovered from Credit Suisse volatility. Full Quick Take Dynasty Trust targets family-controlled companies trading at deep discounts. Core holdings SBM and Volkswagen offer compelling value at 6x and 2.5x fair value respectively. Catalysts include potential battery and luxury auto IPOs. Q1 return of +1.52% driven by Madison Square Garden and Alphabet gains, while European luxury holdings recovered from Credit Suisse volatility. | - | ||||||
| - | - | North Sky Capital delivered strong Q1 results with major infrastructure exits while expanding their impact secondaries strategy. The firm is well-positioned for the energy transition mega trend, with portfolio company Amprius achieving battery breakthrough technology and infrastructure investments benefiting from IRA implementation and falling lithium prices despite elevated labor costs. Full Quick Take North Sky Capital delivered strong Q1 results with major infrastructure exits while expanding their impact secondaries strategy. The firm is well-positioned for the energy transition mega trend, with portfolio company Amprius achieving battery breakthrough technology and infrastructure investments benefiting from IRA implementation and falling lithium prices despite elevated labor costs. | - |
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