We will be sharing Q4 2020 hedge fund investor letters in this article.
Letters and Updates
- Palm Valley Capital ($CLCT)
- Old West Investment Management ($FLGT, $DHXM)
- Wedgewood Partners ($BMY, $MSFT, $GOOG, $KEYS, $PYPL, $SBUX, $PGR)
- Argosy Investors ($PINS, $JD, $RP, $SPB, $FTV, $WFC)
- Silver Ring Value Partners ($MD, $FOX, $CTHR, $DISCA, $QRTEA, $LILA, $OI, $CVET)
- Greystone Capital ($CRHM, $LSYN, $USAT, $FREE)
- Steel City Capital ($ATEX, $EBAY, $TRUP, $WDFC, $LSYN)
- Upslope Capital ($CCK, $ATR, $BFAM, $CBOE, $EVR, $MKTX, $RBA)
- Greenlight Capital Fund ($REZI, $FUBO, $DNMR, $NBSE)
- Saber Capital Management
- ShawSpring Partners ($CVNA, $MTCH)
- RV Capital ($WORK)
- Headwaters Capital Management ($FICO, $INSP, $ENTG)
- Vltava Fund ($NVR)
- Curreen Capital ($CACC, $AOUT)
- MPE Capital ($BKNG)
- Tao Value ($PDD, $BILI, $SE, $PLTR, $GBTC)
- Pender Fund ($ZG)
- Aikya Investment Management ($BABA)
- Oakmark Fund ($FB)
- Bronte Capital Management
- Nomadic Value Partners ($EQC, $ANTM)
- Spree Capital Advisers ($CDLX, $UPWK)
- Laughing Water Capital ($CDMO, $PAR, $USAT, $FREE)
- Forager Funds Management ($FREE, $APG)
- Lindsell Train ($UL, $MANU)
- Avory & Co ($SQ, $PAYC, $CPRI, $GOOG, $MWK)
- Anabatic Fund ($AWI, $BLDR, $NVR, $NTDOY, $OCFC, $AMBC, $SCHW, $BRK.B)
- Citron Capital ($STPK)
- Distillate Capital ($BKNG, $AMGN, $HD)
- Giverny Capital Asset Management ($ATHM, $ANET, $HEI, $FIVE, $GOOG)
- Massif Capital ($LAC, $TRQ)
- Summers Value Partners ($BASI, $ELMD, $MODV)
- Alphyn Capital Management ($ADS, $BUR, $LBRDA, $IAC, $OACB)
- Canterbury Tollgate
- Cooper Investor ($WMG, $WDAY, $CMCSA, $EL, $PAYC, $BSY)
- Alger Mid Cap Focus Fund ($NET, $ROKU, $FTCH, $QDEL, $STMP, $ZM)
- Junto Investments ($GM, $EAF)
- Rowan Street Capital
- Sequoia Fund ($FIS, $ICE, $DIS, $NFLX)
- FAM Funds ($CNXN, $NOMD, $DSGX, $OSW, $HALL, $SPSC, $OLLI, $MTDR, $BIPC, $USPH, $OGS, $PNFP, $FND, $THR)
- JDP Capital Management ($STNE, $SPOT, $ROKU)
- Alta Fox Capital ($CLCT)
- Ensemble Capital Management ($HD, $FAF, $SCHW, $FRC, $BKNG, $NVR, $RACE)
- Greenhaven Road Capital ($NLS, $PAR, $KKR, $ESTC, $APPS, $ROKU, $NYT)
- 1 Main Capital ($JYNT, $SUP)
- Tollymore Investment Partners ($FTCH)
- Baron Discovery Fund ($PACB, $CDNA, $TPIC, $ALGM, $PAR, $VITL, $ESPR, $EBS, SILK, $TXMD, $RRR, $EAR, $TCMD)
- Alluvial Capital Management ($NUVR, $CRAWA, $PIOE, $RWWI)
- Maran Capital Management ($CLAR, $PCYO, $TPB, $AOUT, $RCMT, $FREE)
- Artko Capital ($ECOM, $GROW, $SHYF, $NTIC)
- Guardian Fund ($SPOT, $PLTR)
- Bonsai Partners ($MU, $LKQ, $TSM, $ILMN)
- Avenir Capital ($CHTR)
- Blue Hawk Investment Group ($MTCH, $FND, $SQ, $NFLX, $MSFT, $PTON, $ABNB, $PINS, $LYFT, $SPLK)
- Polen Capital Management’s Global Growth Fund ($BABA, $MSFT, $ABT, $SAP, $ADBE, $SBUX, $ORCL)
- Polen Capital Management’s Focus Growth Fund ($PYPL, $ILMN, $ADP, $MSFT, $ADBE, $CRM)
- Andvari Associates ($LBRDA, $ROP)
- Schroder Investment Management Group ($MSFT, $TMUS)
- Horos Asset Management ($KKR, $BIDU, $AER, $BBL, $LSYN, $BPY, $QIWI)
- Long Cast Advisers ($CTEK, $PDEX, $PESI)
- Merion Road Capital Management ($LNSR, $RMCF, $MHH, $FCPT, $PINS)
- Miller Value Partners-Opportunity Equity ($FANG, $UBER, $BABA, $VRM, $ADT, $DM, $PTON, $NCLH, $SFIX, $FTCH, $GTBIF, $NFLX, $WW)
- Miller Value Partners-Income Strategy ($OMF, $GEO, $NGL)
- Miller Value Partners-Deep Value Strategy ($WFC, $GCI, $BHF)
- Mott Capital Management ($TSLA, $VZ)
- Kinsman Oak Capital Partners Inc. ($FB, $GOOG)
- Roubaix Capital ($KRMD, $LMNX, $CDXS, $WCC, $HIBB, $DBD, $GPRO, $RAVN, $SRI, $ATEX, $SQNS, $SJM, $SMG, $SYKE, $KRUS)
- Mittleman Investment Management ($REV, $AMC)
- Saga Partners ($TDOC, $ROKU, $GDRX, $DBX)
- Baron Health Care Fund ($ARWR, $BBIO, $SDGR, $UNH, $VRTX, $AZN, $DXCM, $MRNA, $ILMN, $GMAB, $HUM, $TMO)
- Symmetry Invest ($GAN)
- Choice Equities Capital Management ($MGNI, $HOME, $PBI, $SIC, $VVI)
- Third Point ($PRU, $UPST, $INTC)
- SRK Capital ($NNUP, $TTSH)
- Rhizome Partners ($CLMT, $UNVR, $BERY, $INDT, $DD)
- GreenWood Investors ($CTT.LS)
- Coho Capital Management ($PSTH)
- Wasatch Small Cap Value Fund ($HEI)
- Wasatch Core Growth Fund ($AIMC, $EEFT, $YETI, $OLLI, $CWH)
- Semper Augustus Investment Group ($DIS, $SWKS, $DG)
- Gator Capital Management ($BBXIA, $AAIC, $KINS)
- Wasatch Micro Cap Fund ($XPEL, $PNTG, $LLNW, $ESPR, $SILK)
- Wasatch Ultra Growth Fund ($INSP, $ZEN, $SGMO, $TNDM)
- Brown Capital Management International Equity Fund ($SAP, $MELI, $RHHBY)
- Brown Capital Management Mid Company Fund ($ALGN, $RP, $TDOC, $DXCM, $NCLH)
- Bireme Capital ($TSLA, $NKLA, $VXRT, $KODK, $MSTR, $HCA, $KRG $RHP, $RICK)
- Bretton Fund ($DISCA, $SPGI, $GOOG, $NVR, $PGR, $MSFT, $V, $MA, $ROST, $TJX, $AZO, $JPM, $BAC, $AXP, $PKI, $UNH, $BRK.B)
- Bonhoeffer Capital Management ($AM, $HOME)
- Berkshire Hathaway ($KHC)
- Conestoga Capital Advisors ($SLP, $PRLB, $OFLX, $SSD, $SPSC, $RGEN, $FOXF, $VERX, $OMCL, $BL, $NRC, $NEOG, $DORM, $AVLR, $PS, $ROAD, $HEI, $AXON, $WSO, $JKHY)
- Black Bear Value Partners ($TPL, $AN, $AWI, $MSGE, $BRK.B)
- Ariel Investments ($NVST, $NLSN, $MSGE, $CLB, $CCL, $LMT, $VIAC, $WBA, $BWA)
- Saturna Capital Corporation ($BIDU, $A, $EME, $UPS, $AAPL)
- Mairs & Power ($AMZN, $USB, $NVDA, $TECH)
- Fundsmith ($NKE, $CLX, $PM, $IHG, $SBUX)
- GDS Investments ($GE, $BRK.B, $QCOM, $TWTR, $ROKU, $ZG, $FSLR)
- Sound Shore Management ($FLEX, $APTV, $ETN)
- Adestella Investment Management ($VG, $XPO, $ARLO)
- Alger Small Cap Focus Fund ($CDNA, $NTRA, $CMD, $STMP, $TNDM, $QDEL)
- Alger Spectra Fund ($GOOG, $AAPL, $INTC, $QCOM, $BABA, $CRM, $VRTX, $STX)
- Baron Growth Fund ($MSCI, $MTN, $IRDM, $FDS, $WIX, $DM, $AMWL)
- Alger Weatherbie Specialized Growth Fund ($CHGG, $PGNY, $CRNC, $OLLI, $TREE, $GOOS)
- Artisan Global Discovery Fund ($BL, $LSCC, $ZM, $BSX, $BSY, $CHGG, $CTAS, $ZNGA)
- Artisan International Fund ($RYAAY, $NICE, $BABA, $NXPI, $CRH)
- Artisan Mid Cap Fund ($HUBS, $PTON, $ROKU, $DXCM, $ZM, $W, $SIVB, $COUP, $NUAN, $MTCH, $EXAS, $GNRC, $AMD, $LHX, $INFO, $ROP, $OLLI)
- Baron Opportunity Fund ($TSLA, $SNAP, $OPEN, $QS, $BABA, $VRM, $SPLK, $ZM, $SFIX, $FTCH)
- Artisan Small Cap Fund ($IRTC, $OLLI, $BL, $HALO, $VCYT, $DNLI, $ZS, $LMND, $ZNGA, $FROG, $CREE)
- Artisan Value Fund ($GOOG, $SNY, $NOC, $CME, $CI, $MS, $SLB, $AAPL, $C, $DD)
- Baron Partners Fund ($IDXX, $ZG, $SCHW, $H, $GDRX)
- RiverPark Large Growth Fund ($SNAP, $PINS, $BX, $UBER, $EXAS, $LMT, $DXCM, $AMT, $EQIX)
- Voss Capital ($MBIN, $RMNI, $AOUT, $COOP)
- Baron Asset Fund ($SFIX, $VEEV, $EQIX, $GDRX, $DXCM, $SBAC, $MTD, $CDAY, $IT, $IDXX, $FTCH, $MTN, $WIX, $FIS)
- Baron FinTech Fund ($MELI, $SQ, $MSCI, $SPGI, $DCT, $MCO, $SHOP, $BABA)
- Bernzott Capital Advisors ($INT, $ECPG, $SP, $APG, $CNK, $WSC, $TREE, $CMP, $INOV, $CRNC, $SSTK, $HI)
- Blue Tower Asset Management ($EZPW)
- Carillon Eagle Mid Cap Growth Fund ($PINS, $CRWD, $ALGN, $RNG, $PTON, $SBAC, $DXCM, $DKNG, $TWTR, $SGEN)
- Carillon Eagle Small Cap Growth Fund ($RP, $GTLS, $KWR, $IIVI, $TDOC, $AMWL, $ENTG, $EBS, $HZNP)
- Cooper Investors Global Equities Fund (Unhedged)
- Longleaf Partners Fund ($FDX, $CARR, $H, $MGM, $MAT, $GE, $CNHI, $LUMN, $PK, $RTX, $DD)
- GoodHaven Fund ($JEF, $BRK.B, $GOLD, $GOOG, $BLDR, $LEN, $DVN, $PCG, $KKR, $BAC)
- L1 Capital ($NWS, $CVE, $ESRT, $BBBY, $LYFT)
- Longleaf Partners Global Fund ($LUMN, $GE, $WMB, $DD, $CNX)
- Longleaf Partners International Fund ($BIDU, $KODK)
- Longleaf Partners Small-Cap Fund ($MAT, $ESRT, $RLGY, $DDS, $EPAC, $VSAT)
- Madison Mid Cap Fund ($LBRDA, $AWI, $VNT, $CLVT, $INFO, $HD)
- Madison Small Cap Fund ($MGNI, $MAS, $HUN, $CTLT, $GMED)
- Oakmark Global Select Fund ($LYG, $BABA)
- Old West Investment Management ($LEU, $FLGT, $ZDGE)
- Oakmark Global Fund ($NVS, $KDP, $PINS, $LYV)
- Polen Capital Management International Growth Fund ($EDU, $ACN, $RELX)
- Richie Capital Group ($PAR, $APH, $MKTX, $AMT, $VMD)
- Smead Capital Management’s Value Fund ($MAC, $DISCA)
- Third Avenue Management’s Small-Cap Value Fund ($CARE, $AGX, $PRA)
- Vulcan Value Partners ($ORCL, $W, $SSNC, $HEI, $CACC, $PRG, $CRM, $CRNC, $UPST)
- Third Avenue Management’s Value Fund ($LAZ)
- Weitz Investment Management’s Hickory Fund ($ACIW, $LBRDA)
- Weitz Investment Management’s Partners Value Fund ($GOOG)
- Weitz Investment Management’s Value Fund ($AMZN, $ADI)
- Harding Loevner ($DIS, $DE, $ALGN)
- Weitz Investment Management’s Partners III Opportunity Fund ($QRTEA, $RWT)
- Harding Loevner’s International Equity Fund ($TME, $BABA, $BIDU)
- Harding Loevner’s Global Small Companies Equity ($FIVE, $SBNY)
- Davis Financial Fund ($CB)
- Polen U.S. Small Company Growth ($RVLV, $ALRM, $ETSY, $BL, $TREE, $LFUS, $USPH, $SLP, $DAVA, $MASI, $POOL, $BLKB)
- Nelson Capital Management ($CHWY, $GIS, $HRL)
- Wasatch Small Cap Growth Fund ($KRNT, $HUBS, $EEFT, $LGIH, $SILK)
- Wasatch Micro Cap Value Fund ($GTBIF, $TPIC, $SYX, $LRN, $PAYS, $ESPR)
- RGA Investment Advisors ($SHOP, $ROKU)
- Cedar Creek Partners ($HCHC, $SCHW)
- Hayden Capital ($SE)
- Saturna Capital’s Sextant Mutual Funds ($AAPL, $AMZN)
- RLT Capital Management ($PINS)
- Pershing Square Holdings ($CMG, $HLT, $QSR, $HHC, $SBUX, $A, $LOW)
- Davis Global Fund ($FERG, $CARR, $WFC, $HOLI)
- Davis International Fund ($OVV, $BABA, $EDU)
- Davis New York Venture Fund ($RTX)
- Davis Opportunity Fund ($COF, $BRK.A, $DGX)
- Evermore Global Value Fund ($EMGCQ, $EOSE)
- Bumbershoot Holdings ($KVHI, $IPI, $VKTX, $CTHR)
- Dynamo Cougar ($NKE, $EFX)
- FPA Crescent Fund ($HWM)
