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.
SouthernSun's SMID Cap strategy delivered -6.05% in Q3 but maintains strong trailing performance. The firm completed leadership transition to employee ownership while focusing on self-help stories like Boston Beer and Murphy USA. Despite macro headwinds including elevated cash yields and small cap underperformance, management sees opportunity in market dislocation for patient fundamental investors.
Full Quick Take
SouthernSun's SMID Cap strategy delivered -6.05% in Q3 but maintains strong trailing performance. The firm completed leadership transition to employee ownership while focusing on self-help stories like Boston Beer and Murphy USA. Despite macro headwinds including elevated cash yields and small cap underperformance, management sees opportunity in market dislocation for patient fundamental investors.
SouthernSun's concentrated SMID cap strategy delivered 11.04% net returns in Q2 2023, outperforming benchmarks through disciplined focus on financial flexibility, management adaptability, and niche dominance. Key positions include Dycom benefiting from fiber infrastructure runway and new additions in physical therapy and premium spirits markets with strong demographic and generational tailwinds.
Full Quick Take
SouthernSun's concentrated SMID cap strategy delivered 11.04% net returns in Q2 2023, outperforming benchmarks through disciplined focus on financial flexibility, management adaptability, and niche dominance. Key positions include Dycom benefiting from fiber infrastructure runway and new additions in physical therapy and premium spirits markets with strong demographic and generational tailwinds.
