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.
Laughing Water Capital delivered 39.8% net returns in Q2 2026 as three portfolio companies were acquired and the largest position doubled. The concentrated portfolio now holds significant cash following exits, with new position AnaptysBio offering 50-80% upside as GSK litigation approaches trial in July. Manager continues hunting mispriced special situations in healthcare and other forgotten corners, focusing on catalyst-driven opportunities with limited macro exposure.
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Laughing Water Capital delivered 39.8% net returns in Q2 2026 as three portfolio companies were acquired and the largest position doubled. The concentrated portfolio now holds significant cash following exits, with new position AnaptysBio offering 50-80% upside as GSK litigation approaches trial in July. Manager continues hunting mispriced special situations in healthcare and other forgotten corners, focusing on catalyst-driven opportunities with limited macro exposure.
