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.
With extreme dispersion fragmenting consumer markets, equities, and credit, index averages are increasingly deceptive, creating a prime environment for active, selective credit picking and opportunistic distressed investing.
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With extreme dispersion fragmenting consumer markets, equities, and credit, index averages are increasingly deceptive, creating a prime environment for active, selective credit picking and opportunistic distressed investing.
EMA GARP Fund returned an extraordinary 48.85% in Q3 2025, riding a paradigm-shifting bull run in precious metals. The fund remains fully committed to junior mining developers and Bitcoin to exploit the global 'monetary debasement trade'.
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EMA GARP Fund returned an extraordinary 48.85% in Q3 2025, riding a paradigm-shifting bull run in precious metals. The fund remains fully committed to junior mining developers and Bitcoin to exploit the global 'monetary debasement trade'.
The fund prioritizes high equity exposure and a substantial gold allocation to compound capital while hedging systemic sovereign debt risks. By utilizing a quantitative global model, the manager avoids direct fixed income exposure and focuses on momentum-led equity sectors, positioning the fund to benefit from resilient US corporate earnings while actively preparing to rotate into oversold defensive areas.
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The fund prioritizes high equity exposure and a substantial gold allocation to compound capital while hedging systemic sovereign debt risks. By utilizing a quantitative global model, the manager avoids direct fixed income exposure and focuses on momentum-led equity sectors, positioning the fund to benefit from resilient US corporate earnings while actively preparing to rotate into oversold defensive areas.
180 Degree Capital believes microcap stocks are trading at historic valuation discounts compared to large-caps. By combining resilient economic conditions with hands-on constructive activism, the fund aims to drive significant NAV growth through company-specific catalysts rather than relying on interest rate cuts.
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180 Degree Capital believes microcap stocks are trading at historic valuation discounts compared to large-caps. By combining resilient economic conditions with hands-on constructive activism, the fund aims to drive significant NAV growth through company-specific catalysts rather than relying on interest rate cuts.
