We will be sharing Q1 2023 hedge fund investor letters in this article. You can also see the hedge fund investor letters for 2022 Q4, 2022 Q3, 2022 Q2, 2022 Q1, 2021 Q4, 2021 Q3, and 2021 Q2 by clicking the links.
Hedge Fund Investor Letters and Updates for 2023 Q1
- Vltava Fund ($MGA)
- Ace River Capital ($RICK, $HZO)
- Palm Valley Capital Management ($NGS, $OR, $CRD-A, $MLR, $BBBY, $GENC)
- Cove Street Capital Small Cap Value Fund ($LFCR, $CMP, $SSP, $NUVA, $HNRG, $LGF-B, $CLMB, $ECVT, $TIGO, $VMD, $GLDD)
- Oakmark Select Fund ($SCHW, $FCNCA)
- Oakmark International Small Cap Fund ($CIGI)
- Richie Capital Group ($PERI, $FIX, $MSCI, $ATEN, $AMT)
- Fiduciary Management Inc. ($UNH, $BKNG, $FBIN, $LYG, ZION, $SCHW)
- Oakmark Funds ($APA, $KR, $TFC)
- Oakmark Global Select Fund ($AIG, $GOOG, $ICE)
- Heartland Advisors Mid Cap Value Fund ($CNC, $INGR, $IBKR, $TDC)
- Oakmark Equity and Income Fund ($CRBG, $WEN, $HWM, $LIVN, $BAC, $STT, $ALLY)
- Oakmark Global Fund ($COF, $COP, $NVST, $TV, $MA, $CS)
- 1 Main Capital ($LMB)
- LVS Advisory ($AVID, $SCHW, $NFLX, $BJ, $JYNT, $GOGO, $IBKR)
- Heartland Value Fund ($FIBK, $CGAU, $NSA)
- Heartland Value Plus Fund ($AVNS)
- Madison Investors Fund ($ADI, $GOOG, $USB, $BKI, $SCHW)
- Atai Capital ($ALOT, $ATVI, $CABO)
- Wedgewood Partners ($BKNG, $TSM, $GOOG, $AAPL, $META, $PGR, $SPGI, $UNH, $TPL, $FRC)
- Miller Value Partners Income Strategy ($WAL, $MSTR, $JXN, $MPW, $VTRS)
- Madison Mid Cap Fund ($ANET, $FND, $CPRT, $PCAR, $ROST, $WRB, $IT, $GBCI, $CSL)
- Brasada Capital Focused Equity Strategy ($CP, $GOOGL)
- Rowan Street Capital ($META, $TTD)
- Artisan Partners Developing World Fund ($SE, $NVDA, $MELI, $ABNB, $CRWD, $HDB, $GRAB)
- Madison Dividend Income Fund ($UPS)
- Madison Sustainable Equity Fund ($QCOM, $TEL, $TGT, $LLY, $DHR, $UNH, $AAPL, $ORCL, $ADP, $PEP, $HD)
- Ensemble Capital Management ($FRC, $BKNG, $RACE, $MASI, $CMG, $NVR, $GOOG)
- Miller Value Partners Deep Value Strategy ($MHO, $NBR, $GCI)
- Miller Value Partners Opportunity Equity Strategy ($EXPE, $UBS)
- White Brook Capital ($PSPC, $GPRE, $ITRI, $RILY, $KAR, $GBX, $MOS, $AFYA)
- L1 Capital Long Short Fund ($TECK, $CVE, $BABA, $AAPL)
- Merion Road Capital ($MWA, $RFIL, $WCC)
- Bernzott Capital Advisors US Small Cap Value Fund ($GVA, $ATSG, $TCBI, $HLMN, $PTEN, $HCI, $TA, $HALO, $ADTN, $BV, $WSC)
- Polen Capital Global Growth Strategy ($ALGN, $MSFT, $SAP, $TMO, $V, $MA, $ABT, $AMZN, $AAPL, $NVDA)
- White Falcon Capital Management ($DSEY, $DCBO, $AMD)
- Polen Capital Focus Growth Strategy ($DG, $CRM, $UNH, $TSLA, $ADBE, $GOOG)
- Longleaf Partners Fund ($WBD, $GE, $MGM, $FDX, $PVH, $LUMN)
- Giverny Capital Asset Management ($SCHW, $ANET, $META. $FRC, $SSNC, $JPM, $COHR)
- Aristotle Atlantic Focus Growth Strategy ($NVDA, $MSCI, $TSLA, $DG, $ON, $HZNP)
- Alphyn Capital Management ($BUR, $ENOV, $W, $BAM, $KMX)
- Polen Capital U.S. Small Company Growth Strategy ($GSHD, $ALTR, $AZTA, $WRBY, $BMBL, $ALIT, $DCGO, $OLPX)
- Silver Beech Capital ($UHAL, $ALLY, $FCNCA, $GRBK)
- Alluvial Capital Management ($PX, $JOB)
- Baron Asset Fund ($IDXX, $ANSS, $WST, $GWRE, $MKTX, $SCHW, $CSGP, $IT, $TECH, $RGEN, $PWR, $TFX, $FIS, $FRC, $ZI, $SBAC)
- Greenlight Capital ($GRBK, $KD, $BHF, $BKI, $FCNCA, $NYCB, $CVS)
- Liberty Park Capital Management ($INTT, $ALTR, $THRY, $LBRT, $LUNA, $KRNT, $HEES, $LSTR, $ATI, $ZEUS, $ITI)
- Longleaf Partners Small-Cap Fund ($OSCR, $H)
- SouthernSun Small Cap Strategy ($BCO, $TKR, $LOB, $DAR, $CLH, $CR)
- FPA Queens Road Small Cap Value Fund ($DECK, $RLI, $FN, $IDCC, $NJR, $SFBS, $SYNA, $OMI, $UNFI, $GIII, $AX)
- Maran Capital Management ($DK, $RNGR)
- Massif Capital Real Assets Strategy ($LAC, $EQX)
- Vulcan Value Partners ($IHG, $UPS, $GEHC, $CRM, $GE, $MSFT, $AMAT, $SWKS, $AYI, $CW, $CNM, $AMZN, $TDG, $SEE, $SNBR, $LFUS, $KKR, $GOOG, $ARES)
- Greystone Capital Management ($GFF, $POL)
- SouthernSun SMID Cap Strategy ($WSO, $WRK, $LPX)
- Matrix Asset Advisors ($PNC, $TFC, $UNP, $PARA)
- Headwaters Capital ($FND, $EYE)
- Alger Small Cap Focus Fund ($HSKA, $GWRE, $NTRA, $XMTR, $CWAN, $GTLB)
- RiverPark Large Growth Fund ($LULU, $META, $DDOG, $NVDA, $SHOP, $UBER, $AAPL, $SCHW, $ISRG, $RNG, $UNH)
- Third Avenue Management Small-Cap Value Fund ($FRPH, $MSGE, $TDW, $LSXMA)
- Baron Opportunity Fund ($NVDA, $TSLA, $MSFT, $AMZN, $INDI, $ARWR, $RIVN, $DAVA, $META, $MRVL, $DXCM, $GTLB, $GOOG, $ARGX)
- Diamond Hill Large Cap Strategy ($TFC, $AIG, $ALL, $NVR, $AMZN, $GOOG, $MSFT, $BKNG, $LEA, $RRX)
- ClearBridge Investments SMID Cap Growth Strategy ($MPWR, $HUBS, $PEN, $EYE, $FND, $ZWS, $WOOF, $WAL, $ENPH)
- Arch Capital Management ($WIX, $AMZN)
- Polen Capital U.S. SMID Company Growth Strategy ($TTD, $ETSY, $DAVA, $MPWR)
- Diamond Hill Capital Small Cap Fund ($WCC, $ESAB, $MYFW, $RRR, $CIVI, $GRBK, $SAMG, $ITGR, $LOB, $BOKF, $WBS, $OZK, $FIBK)
- Baron Discovery Fund ($INGN, $CDNA, $MRCY, $CERT, $DKNG, $SITM, $MEG, $VRAY, $AXNX, $SILK, $NVTS, $FND, $RVNC, $AXON)
- FPA Crescent Fund ($ADI)
- Baron Fifth Avenue Growth Fund ($TTD, $EPAM, $MELI, $NET)
- Diamond Hill Capital Mid Cap Strategy ($ARW, $SF, $FIS, $CUBE)
- Carillon Eagle Mid Cap Growth Fund ($MKTX, $MPWR, $GWW, $ENPH, $BILL, $HAL, $AR, $MTCH, $SGEN, $SNPS)
- Andvari Associates ($TYL)
- Baron Health Care Fund ($ZTS, $COO, $MTD, $VRTX, $INSP, $LLY, $EXAS, $RXDX, $RCKT, $ELV, $MRNA, $CI, $UNH, $AZN, $ABBV)
- Artisan Partners Small Cap Fund ($MPWR, $WING, $CHGG, $CROX, $SAIA, $FOUR, $MKTX, $HUBS, $LSCC, $ALGM, $HALO, $MORN, $WOLF, $CWAN, $CDMO)
- Long Cast Advisers ($PESI, $MTRX)
- Greenhaven Road Capital ($PAR, $KKR, $CLBT, $BUR, $APG, $LFCR, $BNED)
- Voss Capital ($ASO, $PLYA)
- Aristotle Atlantic Large Cap Growth Strategy ($NSC, $ENPH, $GTLS, $BMRN, $DT)
- Alger Spectra Fund ($AAPL, $MSFT, $NVDA, $LLY, $UNH, $ACHC)
- Baron Partners Fund ($H, $IRDM, $ACGL, $DEI, $ILMN, $MSCI)
- Artisan Partners Value Fund ($META, $WBD, $FDX, $NOC, $CI, $PNC, $BAX, $BX, $USB, $BAC)
- Conestoga Capital Advisors Small Cap Strategy ($ALTR, $AAON, $AXON, $FOXF, $SPSC, $MODN, $AZTA, $PLOW, $CWAN, $QTWO, $DGII, $STVN, $NEOG)
- Cooper Investors Global Equities Fund ($SNPS, $BKNG)
- Conestoga Capital Advisors Micro Cap Strategy ($TRNS, $CYRX, $OLO, $SSTI, $USPH, $TKNO, $NVEE, $MEG, $PLMR)
- Conestoga Capital Advisors Mid Cap Strategy ($WST, $ANSS, $CPRT, $FTNT, $IDXX, $JKHY, $CSGP, $TECH, $IT, $XYL, $EXPO, $BSY, $PCOR, $XM, $ALGN)
- Conestoga Capital Advisors SMid Cap Growth Strategy ($FICO, $WSO, $EVI, $LSPD, $CWST)
- Fairlight Alpha Fund ($OPRA)
- McIntyre Partnerships ($OSW, $STHO, $SHC, $MSGE, $SPHR, $WMG)
- Third Point Management ($UBS, $FIS, $CL, $AIG, $GOOGL, $PCG)
- Appleseed Fund ($MDT, $SWK, $SNV, $ALL)
- Horizon Kinetics (TPL, TRC, LAND, CVEO, AMD, KIM)
- Ariel Investments Global Fund ($BIDU, $MSFT, $EQC, $ABEV)
- Ariel Investments Focus Fund ($BWA, $MSGE, $ORCL, $APA, $BOKF, $ZIMV)
- Ariel Appreciation Fund ($AXTA, $SCHW, $SRCL, $JLL, $PGR)
- Ariel Fund ($PARA, $RCL, $ADT, $AMG, $LESL)
- Ariel Investments International Fund ($PM)
- Palm Harbour Capital ($IGT, $IHRT)
- RGA Investment Advisors ($CTKB)
- Baron FinTech Fund ($INTU, $TW, $LPLA, $GLOB, $CINT, $BILL, $IBKR, $APO, $DLO, $NVEI, $CME, $MKTX, $HLI)
- 180 Degree Capital Corp ($PBPB, $ALTG, $SNCR, $IVAC, $AREN, $QBTS)
- Harding Loevner Emerging Markets Equity Strategy ($JD, $BABA, $EPAM, $GLOB)
- Palm Capital ($GOOG)
- Harding Loevner Global Equity Strategy ($CRM, $META, $NOC, $ABBV, $NVDA)
- Wedgewood Partners Focused SMID Cap Strategy ($SAIA, $LDOS, $JBHT, $LSTR)
- Ave Maria Focused Fund ($GFL)
- Ave Maria Growth Fund ($VRRM, $BL)
- Ave Maria Rising Dividend Fund ($TFC, $CSL)
- Silver Ring Value Partners ($GTXAP, $OI, $AAPL)
- Laughing Water Capital ($LFCR, $CDMO)
- Ave Maria World Equity Fund ($STVN, $PAC, $PXD, $SAP, $CB)
- Deep Sail Capital ($MELI, $RCMT)
- Nordstern Capital ($STNE, $ASTL)
- Donville Kent Asset Management ($NVEI)
- Rondure Global Advisors ($MELI)
- Gator Capital Management ($OMF, $SIVBQ, $VRTS, $PNFP, $AX, $WBS)
- Crescat Capital ($NVDA, $GOOG, $META)
- Baron Durable Advantage Fund ($SIVBQ, $MSFT, $AMZN, $META, $NVDA, $MPWR, $UNH, $DHR, $A, $BAM, $TSM)
- Third Avenue Management Value Fund ($DB, $CMA)
- Third Avenue Real Estate Value Fund ($JLL, $CBRE, $LEN, $DHI)
- Horos Asset Management ($MBI, $AER, $MG, $SIVBQ)
- Baron Growth Fund ($CWAN, $FDS, $DNUT, $KNSL, $MSCI)
- Evermore Global Value Fund ($DHT)
- Baron Small Cap Fund ($IBP, $SITE, $ALTR, $LSXMA, $RPAY, $CLVT)
- Harding Loevner Global Small Companies Equity Strategy ($ALTR, $NBIX, $ATKR, $OLLI, $AAON)
- Mairs & Power Small Cap Fun ($CLFD, $INSP, $ALTR, $WK, $CTLT, $LFUS, $AIR, $PIPR)
- Mairs & Power Growth Fund ($JPM, $NVDA, $GOOG, $MSFT, $USB, $UNH, $HRL, $SCHW)
- Baron Focused Growth Fund ($H, $IRDM, $MSCI, $ANSS, $CSGP, $FIGS, $DEI, $ARE, $MANU, $MGM, $PENN, $FDS)
- Harding Loevner International Equity Strategy ($KOF, $RIO, $RHHBY, $XP, $HDB, $HLN)
- SaltLight Capital Management ($NVDA)
- Kinsman Oak Capital Partners ($CIGI, $LULU, $ATVI)
- Generation Investment Management Global Equity Strategy ($HSIC, $SCHW)
- Aristotle Capital Boston Small/Mid Cap Equity Strategy ($CTLT, $FCN, $SBNY, $HASI, $TFX, $BKU, $PACW)
- Tweedy, Browne Company ($BIDU, $SIVBQ, $BABA, $SBNY, $WFC, $BAC, $USB, $TFC, $TTE, $UL)
- Aristotle Atlantic Core Equity Strategy ($CI, $EXPE, $ZTS, $PSX)
- Aristotle Capital International Equity ADR Strategy ($BAM)
- Aristotle Capital Boston Small Cap Equity Strategy ($NSIT, $WWE, $ACHC)
- Aristotle Capital Value Equity Strategy ($PYPL, $RPM, $CFR, $LEN, $ANSS)
- Polen Capital Global SMID Company Growth Strategy ($FND, $AZTA, $TYL, $ALGN)
- Artisan Partners Mid Cap Fund ($WST, $SIVBQ, $ROK, $NDAQ, $BJ, $BILL, $ZI, $VRSK, $BSY, $AJG, $CNHI)
- Polen Capital International Growth Strategy ($MELI, $AON, $ACN, $GLOB)
- Artisan Partners Focus Fund ($CP, $UNH, $ELV, $NVDA, $TSM)
- The Ithaka Group ($NVDA, $CRM, $MSFT, $ISRG, $SNOW, $DXCM)
- Alger Weatherbie Specialized Growth Fund ($MEG, $CHGG, $FSV, $SPSC, $VERX)
- Tourlite Capital Management ($FTAI, $APG, $VRRM, $FC, $GLOP)
- Bonhoeffer Capital Management ($CNSL, $TIGO, $BLDR, $URI, $KT, $ABG)
- Baron Emerging Markets Fund ($TSM, $BABA, $KC, $JD, $TS, $SUZ)
- Carillon Eagle Small Cap Growth Fund ($LSCC, $SLAB, $WING, $XM, $XPOF, $HALO, $CHGG, $VNOM, $LBRT, $UEIC)
- Praetorian Capital ($JOE)
- Weitz Investment Management Partners III Opportunity Fund ($SCHW, $FIS, $LSXMA, $META, $MSFT, $LBRDA)
- Baron Real Estate Fund ($BX, $CBRE, $INVH, $EQIX, $TOL, $SITE, $SITE, $ARE, $PLD, $PSA, $LEN, $LOW, $JLL, $MGM, $RRR, $WYNN, $LVS, $CZR, $GLPI, $EGP, $TREX, $VMC, $SBAC, $FND, $CSGP)
- L1 Capital International Fund ($GPK, $BKNG, $CRH, $AMZN, $GOOG, $EXP, $UNH, $MSFT)
- Longleaf Partners Global Fund ($TIGO)
- Madison Small Cap Fund ($GMED, $XMTR, $TCBI, $NATI, $RADI)
- FPA U.S. Core Equity Fund Inc. ($META)
- Bronte Capital Amalthea Fund ($UBS, $SIVBQ, $SBNY, $FCNCA)
- Artisan Partners Global Discovery Fund ($LSCC, $SIVBQ)
- Blue Tower Asset Management ($SCHW, $DHI, $LEN)
- The London Company Large Cap Strategy ($FDX, $ODFL, $GOOG, $SCHW, $NSC, $BLK, $CVX)
- The London Company Mid Cap Portfolio ($SWKS, $CPRT, $ENTG, $CBRE, $MTB, $UNF, $HAS, $BKI)
- The London Company Small Cap Strategy ($VNT, $TPX, $LIVN, $MUSA, $WTM, $PAG, $ENOV)
- The London Company Small-Mid Cap Strategy ($CHDN, $LW, $MBI, $JKHY, $MUSA)
- Cedar Creek Partners ($MFBP, $BMTX)
- Black Bear Value Partners ($SIVBQ, $BRK-B, $BLDR, $CVEO, $ABG)
- ClearBridge Large Cap Value Strategy ($SCHW, $AXP, $PGR, $GOOG, $META, $HON, $BDX, $MCK, $TEL, $DISH, $ELV, $UNH, $USB, $JPM, $BAC, $COP, $CVX, $JNJ)
- Smead Capital Management Value Fund ($BAC, $OVV, $WBD, $NVR, $LEN, $COP)
- ClearBridge Investments Value Equity Strategy ($BNTX, $COF, $CI, $CVS)
