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 Oakmark International Strategy returned 4.93% net in Q4 2025, actively shifting capital into discounted high-quality names like AstraZeneca and Unilever as the U.S. growth-stock paradigm begins to unwind.
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The Oakmark International Strategy returned 4.93% net in Q4 2025, actively shifting capital into discounted high-quality names like AstraZeneca and Unilever as the U.S. growth-stock paradigm begins to unwind.
The Invenomic Fund finished 2025 up 4.58%, overcoming severe headwinds from growth, momentum, and large-cap dominance via solid stock-picking alpha. The manager is highly cautious about broader market leverage but sees an exceptional opportunity in the fund's historically wide long/short value spread.
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The Invenomic Fund finished 2025 up 4.58%, overcoming severe headwinds from growth, momentum, and large-cap dominance via solid stock-picking alpha. The manager is highly cautious about broader market leverage but sees an exceptional opportunity in the fund's historically wide long/short value spread.
Despite Q2 underperformance due to persistent growth stock momentum, the fund is positioning for a significant value rotation backed by deteriorating free cash flows in mega-cap tech and historically wide valuation gaps.
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Despite Q2 underperformance due to persistent growth stock momentum, the fund is positioning for a significant value rotation backed by deteriorating free cash flows in mega-cap tech and historically wide valuation gaps.
The Fund underperformed its benchmark in 2Q25 due to a growth-led, risk-on market rally, but the managers remain committed to their disciplined, valuation-focused approach.
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The Fund underperformed its benchmark in 2Q25 due to a growth-led, risk-on market rally, but the managers remain committed to their disciplined, valuation-focused approach.
