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.
The Kopernik Global All-Cap Fund delivered a stellar 18.39% return in Q2 2025, powered by strong gains in PGM, uranium, and South Korean value equities, while hedging against frothy US market valuations.
Full Quick Take
The Kopernik Global All-Cap Fund delivered a stellar 18.39% return in Q2 2025, powered by strong gains in PGM, uranium, and South Korean value equities, while hedging against frothy US market valuations.
Packer & Co remains extremely cautious of the market's tech-driven rally, warning of an impending recession driven by aggressive rate hikes and record sovereign debt. The fund holds approximately 50% in defensive cash, gold, and short-term bonds, allocating its equity exposure to cheap, cash-generative energy and telecommunications leaders.
Full Quick Take
Packer & Co remains extremely cautious of the market's tech-driven rally, warning of an impending recession driven by aggressive rate hikes and record sovereign debt. The fund holds approximately 50% in defensive cash, gold, and short-term bonds, allocating its equity exposure to cheap, cash-generative energy and telecommunications leaders.
