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 Small Cap underperformed in Q2 by avoiding AI data center plays the manager views as lacking moats. The portfolio trades at severely discounted valuations with double-digit earnings growth projected. Top performers included Frontdoor and Landstar System on recovering end markets. The fund initiated Ryan Specialty during weakness and expects elevated activity as volatility creates selective opportunities in high-quality small caps.
Full Quick Take
FAM Small Cap underperformed in Q2 by avoiding AI data center plays the manager views as lacking moats. The portfolio trades at severely discounted valuations with double-digit earnings growth projected. Top performers included Frontdoor and Landstar System on recovering end markets. The fund initiated Ryan Specialty during weakness and expects elevated activity as volatility creates selective opportunities in high-quality small caps.
The Platinum Asia Fund returned 5% in Q4 2025, capitalising on AI semiconductor gains and a major recovery in Chinese financials, while actively building positions in Pony AI and Jollibee.
Full Quick Take
The Platinum Asia Fund returned 5% in Q4 2025, capitalising on AI semiconductor gains and a major recovery in Chinese financials, while actively building positions in Pony AI and Jollibee.
