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.
EQUAM returned 2.6% in H1 2026 while European indices rose 10-12%, as capital flows ignored small-cap value stocks despite 120% portfolio upside potential. Three companies received takeover bids at 16-73% premiums, validating deep public market discounts. The fund sees exceptional opportunity in structurally undervalued UK equities and oil services entering a multi-year exploration spending cycle. Manager maintains near-zero cash with high conviction in mean reversion.
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EQUAM returned 2.6% in H1 2026 while European indices rose 10-12%, as capital flows ignored small-cap value stocks despite 120% portfolio upside potential. Three companies received takeover bids at 16-73% premiums, validating deep public market discounts. The fund sees exceptional opportunity in structurally undervalued UK equities and oil services entering a multi-year exploration spending cycle. Manager maintains near-zero cash with high conviction in mean reversion.
