Hedge Fund Letters To Investors…. where can you find them? The short answer is that its complicated. The longer answer is that some hedge funds publicly release their letters because they have publicly traded vehicles while some smaller funds release them in an effort to get press not available to funds that size. Many of these funds have great track records but cannot compete with hedge fund managers who can do the rounds on CNBC, Bloomberg etc. whenever they want.
Some funds make it very hard to get their hedge fund letters via security and/or who they send it to. Thankfully, we have reliable sources and readers who help us in this process. While most of the time we cannot post the full letter when we can we do so and when we cannot we do an analysis which would fall under fair use. To make it easy to find hedge fund letters I decided to put together links of some funds I follow and/or receive their info and find their info interesting and/or of value. The links are not an endorsement of the fund and any omission does not mean we look down on the fund. I decided to put together this resource page which I hope to update a lot over the next few weeks and to add to at least annually if not more.
Tips (@) www.valuewalk.com (all inquires are 100% anonymous – we could also do PGP or a different secure way of connecting) without further to do here is our list of good readers for 2015/q4 letters and Q1/Q2 2016.
NOTE: The list is in alphabetical order. To be completely accurate, while most funds listed below are hedge funds some are mutual funds or other (i.e. Berkshire Hathaway). The list is (mostly) in alphabetical order.
Note – to make this easier we have decided to arrange hedge fund letters by quarter – we go by calendar year even if a firm ends their Q4 on March 31st for example it will be considered a Q1 letter.
Q2 letters
Q3 letters
Hedge Fund Letters To Investors – 2015
- ADW Capital
- Allan Mecham
- Alluvial Capital Management
- Alleghany 2015
- Anchorage Capital Q2
- Anchor Bolt Capital
- Absolute Return Partners
- Andy Hall’s Astenbeck Capital 2015 Annual Letter
- Aristotle Capital
- Aviner Capital 2015 Long Service stream
- Azvalor, also see 2015 conference video
- Balysany
- Berkshire Hathaway
- Biglari Holdings
- Brenhman Capital – strong energy bets
- Bretton
- Baupost Group – four links
- Now’s Not The Time To Give Up On Value
- Making Use Of Market Inefficiencies To Find Bargains In Distressed Debt
- “Catching Knives” Experiences Rare Yearly Loss, Looks Forward
- Value Investing In A Turbulent Market
- Brevan Howard
- BridgeWater Associates – Daily Observations- End Of Debt Supercycle
- Bronte Capital
- BroyHill
- BTG Pactual Macro Fund
- Arquitos Capital Management
- Broadrun Investment Management
- Broadview Capital Management
- Cable Car
- Carlson Capital
- Clipper Fund
- Coho Capital
- Chilmark Air
- Cornwall Capital (profiled in The Big Short)
- Curreen Capital Management
- Cook & Bynum
- Crescat Capital
- Dichotomy Partners
- Daily Journal meeting
- Dane Capital
- Denali Investors Q4
- Donville Kent
- Dodge & Cox
- East Coast Asset Management
- Elm Ridge Capital – Long Oil
- Eddie Lampert
- Euclidean Technologies
- EVCM Investors
- Farnam Street
- Fairholme Funds
- FairFax Financial
- Glenview Capital – also discusses Q1’16, more here, Part III here
- Greenlight Capital Management
- Half Moon Capital
- First Eagle Investment Management
- Firefly Value Partners
- FPA Crescent Fund
- Francis Chou’s Chou Associates
- Giverny Capital
- GMO
- GreenHaven Road Capital Management
- GreensKeeper Value
- Greenwood
- Grey Owl Capital
- Global Return Asset Management
- GoodHaven
- JDP Capital Management
- James Montier White Paper
- Jamie Dimon
- Lakewood Capital
- Hazelton
- Hawk Ridge Management
- Hayman Capital – China short
- Heartland Advisors
- Hoisington
- Horseman Capital
- Horizon Kinetics
- Horizon Kinetics Q4
- Howard Marks Memo – On The Couch
- Howard Marks Memo – What Does The Market Know
- Hugh Hendry, Hugh Hendry 2016 Cheat Sheet
- Hugh Hendry June Letter – Brexit Bomb
- iolite
- Kerrisdale Capital
- Khrom Capital
- Leon Cooperman – Wells Notice
- Leucadia
- Lone Pine Capital
- Long Leaf Partners
- Lume Capital
- Magellan Asset Management
- Maverick Capital
- Mittleman
- Meson Capital
- Moerus Capital
- Mohnish Pabrai 2015 letter
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- Nevsky Capital 2015 letter – closing
- Odey,
- Oakmark Funds
- Olstein
- Orange Capital – Closing
- Pershing Square Capital Letter
- Pershing 2015 letter
- Pershing Square Capital Presentation
- Pzena Asset Management
- Raging Capital
- Ruffer
- RV Capital
- S&C Messina Capital Management
- Semper Augustus Investments Group
- South Shore
- SPX Nimitz
- Steben
- Senvest Capital
- Sequoia Fund
- Starvine Capital
- Stanphyl Capital
- Sova Group
- SUI Generis
- T11 Capital
- Tiger Global
- TGV Partners
- Third Point Capital
- Thornburg Investments
- Tiger Veda
- Torray
- Trapeze
- Turtle Creek
- Tweedy Browne, Tweedy Browne 2015
- ValueAct Capital, Part II
- Viking Global
- Visium – SEC/DOJ investigation
- Vulcan Value
- Wedgewood Partners
- Weitz Funds
- Whitney Tilson, Full letter
- Zeke Ashton
Hedge fund letters to investors
Hedge Fund Letters To Investors
Q2 letters
Q3 letters
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