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.
While headline U.S. equity indices posted strong gains in 2025, underlying market dispersion and historically tight credit spreads signal caution. Major upcoming fiscal tax cuts are double-edged, risking persistent inflation amid high monetary policy uncertainty.
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While headline U.S. equity indices posted strong gains in 2025, underlying market dispersion and historically tight credit spreads signal caution. Major upcoming fiscal tax cuts are double-edged, risking persistent inflation amid high monetary policy uncertainty.
Armbruster Capital Management advocates for strict long-term portfolio diversification over chasing high-flying US mega-cap technology stocks. With equity valuations near dot-com era peaks and corporate bond spreads at their narrowest since 1998, the firm cautions against concentrated market risk, preferring safer Treasury bonds, international equities, and liquid alternatives to navigate potential reversion.
Full Quick Take
Armbruster Capital Management advocates for strict long-term portfolio diversification over chasing high-flying US mega-cap technology stocks. With equity valuations near dot-com era peaks and corporate bond spreads at their narrowest since 1998, the firm cautions against concentrated market risk, preferring safer Treasury bonds, international equities, and liquid alternatives to navigate potential reversion.
The Columbia Strategic Income Fund underperformed its benchmark with a 1.56% return in Q3 2025. Moving forward, the fund is maintaining a conservative stance on tight corporate credit while favoring agency MBS and reducing long-end duration underweights as the Fed enters an easing cycle.
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The Columbia Strategic Income Fund underperformed its benchmark with a 1.56% return in Q3 2025. Moving forward, the fund is maintaining a conservative stance on tight corporate credit while favoring agency MBS and reducing long-end duration underweights as the Fed enters an easing cycle.
