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.
FAM Funds lagged their benchmarks in Q4 2025 due to a speculative 'risk-on' market environment favoring lower-quality and AI-exposed stocks. The manager remains disciplined, focusing on quality compounders at attractive valuations.
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FAM Funds lagged their benchmarks in Q4 2025 due to a speculative 'risk-on' market environment favoring lower-quality and AI-exposed stocks. The manager remains disciplined, focusing on quality compounders at attractive valuations.
The FAM Funds underperformed in Q4 2025 as speculative and lower-quality stocks outperformed high-quality names. Despite short-term relative headwinds, the manager remains highly committed to their quality-focused compounding strategy, utilizing volatility to buy robust franchises at multi-year relative lows.
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The FAM Funds underperformed in Q4 2025 as speculative and lower-quality stocks outperformed high-quality names. Despite short-term relative headwinds, the manager remains highly committed to their quality-focused compounding strategy, utilizing volatility to buy robust franchises at multi-year relative lows.
Voss Capital navigated severe value-factor headwinds in Q3 2025 by holding firm on deeply discounted high-conviction ideas and capturing tax losses, positioning the fund for an attractive forward setup as valuations hit historic lows.
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Voss Capital navigated severe value-factor headwinds in Q3 2025 by holding firm on deeply discounted high-conviction ideas and capturing tax losses, positioning the fund for an attractive forward setup as valuations hit historic lows.
The fund delivered strong outperformance of 3.90% in Q3 and tactically reduced CEF exposure below 60% to front-run seasonal tax-loss harvesting discounts.
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The fund delivered strong outperformance of 3.90% in Q3 and tactically reduced CEF exposure below 60% to front-run seasonal tax-loss harvesting discounts.
