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.
Pzena's Global Small Cap Focused Value Composite returned 7.6% net in Q2 2025, lagging its benchmark amid tariff-driven market volatility. The team capitalized on depressed small-cap valuations by adding four new cyclical and specialty names while disciplinedly exiting fully-valued or structurally impaired holdings.
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Pzena's Global Small Cap Focused Value Composite returned 7.6% net in Q2 2025, lagging its benchmark amid tariff-driven market volatility. The team capitalized on depressed small-cap valuations by adding four new cyclical and specialty names while disciplinedly exiting fully-valued or structurally impaired holdings.
