Hedge Fund Investor Letters Q3 2022

We will be sharing Q3 2022 hedge fund investor letters in this article. You can also see the hedge fund investor letters for 2022 Q2, 2022 Q1, 2021 Q4, 2021 Q3, 2021 Q2, 2021 Q1, and 2020 Q4 by clicking the links.

Hedge Fund Investor Letters and Updates for 2022 Q3

• East 72 ($FWONK, $MSGS, $MANU)
• Vltava Fund ($BRK-A, $CVS , $JPM, $LMT, $MKL)
• Oakmark Select Fund ($CRM, $WFC, $KKR)
• Oakmark Global Select Fund ($NFLX. $HUM)
• Oakmark Fund ($CHTR, $ALLY, $UBER, $FBHS, $WBD)
• Rowan Street Capital ($DOCU)
• Palm Valley Capital Management ($KELYA, $MAN, $SNN, $SSRM, $PLPC, $CRD-A, $ODC)
• Heartland Advisors Value Plus Fund ($PLOW)
• Heartland Advisors Value Fund ($NOV, $PDCO)
• Heartland Advisors Mid Cap Value Fund ($AAP, $TCBI, $SWKS, $CEG)
• Long Cast Advisers ($CCRD, $ARIS)
• LRT Capital Management September Letter ($MU)
• Merion Road Capital ($PTON, $FERG, $GOOG, $SIX, $WHG, $WHG, $CRMT)
• Moon Capital Management ($ALLY)
• Wedgewood Partners Large Cap Focused Growth Fund ($META, $TSM, $V, $PYPL, $TPL, $EW, $MSI, $CPRT, $AAPL, $GOOG)
• Claret Asset Management ($KMX, $NVDA, $POSH, $CS)
• Artisan Partners Global Value Fund ($WTW, $TTE, $EXPE, $BABA)
• Baron Health Care Fund ($ABBV, $AZN, $TECH, $NARI, $SWAV, $MCK, $MRNA, $MXCT, $CYTK, $LLY, $DHR, $ISRG, $RGEN, $ALNY, $HUM, $TMO)
• Black Bear Value Partners ($BRK-A, $BLDR, $GRBK, $MSGE)
• Mawer Investment Management ($AON, $APH, $DBSDY, $VZ, $CMCSA, $CIGI, $BABA)
• Ensemble Capital Management ($NVR, $MASI, $NFLX, $NKE, $GOOG, $SCHW, $NOW)
• Longleaf Partners Fund ($LUMN, $IAC, $FDX, $LBRDA)
• Andvari Associates ($ADBE)
• Leaven Partners ($F, $FDX, $WMT, $NKE)
• Third Point ($DIS, $PCG, $CL)
• Giverny Capital Asset Management ($SCHW, $KMX, $META, $CIEN, $COHR)
• Miller Value Partners Opportunity Equity Strategy ($OMF, $DAL, $EXPE)
• Upslope Capital Management ($BALL, $BWXT, $CACI)
• Cooper Investors Global Equities Fund ($DHR, $BAM, $WDAY, $CRM)
• Tourlite Capital Management ($VRRM, $PRM)
• Third Avenue Management Small-Cap Value Fund ($VC, $ECPG)
• Third Avenue Management Real Estate Value Fund ($FNF, $BAM, $LEN)
• RGA Investment Advisors ($REGN, $MXCT, $AZTA, $BMY, $CTKB)
• Polen Capital Focus Growth Strategy ($ISRG, $NFLX, $ILMN, $ADBE)
• Blue Tower Asset Management ($ENVA)
• Akre Capital Management Focus Fund ($ADBE)
• Smead Capital Management Value Fund ($COP, $OXY, $LEN, $WBD, $EBAY, $AMGN)
• RiverPark Large Growth Fund ($FIVN, $BKNG, $INTU, $V, $WDAY, $UBER, $NFLX, $PINS, $PYPL, $SCHW, SNAP, $GOOG, $NOW, $NKE, $RNG)
• Miller Value Partners Income Strategy ($ARLP, $CHK, $BKE, $CC, $OGN, $VTRS)
• Greenlight Capital ($AAWW, $GRBK, $TWTR, $CEIX, $PLBY, $WBD, $CC)
• Polen Capital Global Growth Strategy ($ADP, $ADSK, $ICLR)
• Baron Asset Fund ($IT, $SCHW, $CSGP, $ZI, $LPLA, $TFX, $CDAY, $TRU, $WST, $VEEV, $MTD)
• Cedar Creek Partners ($BMTX, $RBCN)
• Alphyn Capital Management ($KMX, $IAC, $BUR, $LBRDA, $AMZN)
• White Brook Capital ($BOX, $KAR, $ITRI, $GBX, $BUR)
• Diamond Hill Capital Small Cap Strategy ($USLM, $DEI, $LEU, $RMNI, $ESAB, $ALGT, $ESGR, $CALM, $WCC, $WNS)
• Diamond Hill Capital Small-Mid Cap Strategy ($PII, $CIEN, $UGI, $RRX)
• Diamond Hill Capital Mid Cap Strategy ($SSNC, $SIVB, $PRG, $LANC)
• Headwaters Capital ($CABO, $NOTV, $UFPT)
• Bronte Capital Amalthea Fund ($REGN, $GOOG)
• Massif Capital Real Assets Strategy ($AES)
• Diamond Hill Capital Large Cap Strategy ($AMZN, $AIG, $GOOG, $SYK, $COP, $NDAQ, $PFE, $VFC, $ABT)
• Polen Capital International Growth Strategy ($SAP, $MELI)
• Polen Capital U.S. SMID Company Growth Strategy ($GSHD, $WING, $DT, $TTD, $PAYC, $EEFT, $BMBL, $YETI)
• Polen Capital Global SMID Company Growth Strategy ($FIVE, $AZTA)
• Polen Capital U.S. Small Company Growth Strategy ($PGNY, $AMN, $PCTY)
• Weitz Investment Management Hickory Fund ($KMX, $CSGP, $LBRDA, $LBTYA)
• O’keefe Stevens Advisory ($SRG, $LAZ)
• Arch Capital Management ($ADSK)
• Alluvial Capital Management ($PX, $GTX)
• Carillon Eagle Mid Cap Growth Fund ($ENPH, $LPLA, $AVTR, $WCN, $TRU, $SGEN, $BKR, $FLT, $WOLF, $ALB)
• Carillon Eagle Small Cap Growth Fund ($SWAV, $KRTX, $CELH, $WING, $SLAB, $UEIC, $RPD, $COHR, $SMPL)
• Curreen Capital ($JXN)
• L1 Capital Long Short Fund ($BABA, $CVE)
• Fiduciary Management All Cap Strategy ($AVY, $FERG)
• Madison Dividend Income Fund ($MS)
• FPA Queens Road Small Cap Value Fund ($LTHM, $IDCC, $AAWW, $SJI, $AEL, $SYNA, $CNXC, $MTZ, $PVH, $NJR)
• Baron Discovery Fund ($KTOS, $DH, $TXRH, $SMAR, $CDNA, $NVTS, $SILK, $AXNX, $MRCY, $CWAN, $WOOF, $RVNC, $SMRT)
• Weitz Investment Management Partners III Opportunity Fund ($META, $DNB, $BKI)
• Madison Investors Fund ($ACGL, $ALC, $NVS)
• Madison Mid Cap Fund ($MKSI, $ROST, $VNT, $MCHP)
• Baron Opportunity Fund ($INDI, $NET, $SHOP, $MPWR, $ARGX, $NVDA, $GOOG, $MSFT, $TSLA, $NOW)
• Weitz Investment Management Value Fund ($ADBE)
• Baron Small Cap Fund ($CLVT, $RPAY, $AVNT, $CAKE, $HLLY, $TTD, $ICLR, $AZPN, $SG, $GDYN, $KNSL)
• Madison Small Cap Fund ($OMI, $HAIN, $WSC, $TCBI, $BRP)
• Baron Partners Fund ($H, $GWRE, $FIGS, $IRDM, $ACGL, $DEI)
• Baron Emerging Markets Fund ($TSM, $BABA)
• Baron International Growth Fund ($AZN, $CPNG, $WIX, $AFYA)
• Baron Focused Growth Fund ($DNUT, $PENN, $FDS)
• Praetorian Capital ($BLDR, $JOE)
• Baron Global Advantage Fund ($DLO, $DAVA, $TXG, $DDOG, $MELI, $RIVN)
• FPA Crescent Fund ($META, $GOOG)
• Maran Capital Management ($APG, $CLAR)
• Alger Spectra Fund ($AMZN, $TSLA, $MSFT, $BABA, $GOOG, $NTRA)
• Wedgewood Partners Focused SMID Cap Strategy ($BURL, $LDOS, $FORM, $SAIA , $TTC, $HELE, $SHOO, $AYI)
• Vulcan Value Partners ($MLKN, $PRCH, $CIGI, $CWK, $SMRT, $TKR, $PK, $CRM, $ELV, $NVDA, $APP, $ARES, $LFUS)
• Nordstern Capital ($ASTL)
• Alger Small Cap Focus Fund ($SWAV, $MRCY, $HSKA, $RBC, $QDEL)
• ClearBridge Investments Aggressive Growth Strategy ($BIIB, $CMCSA, $STX, $VRTX, $WDC)
• ClearBridge Investments Large Cap Growth Strategy ($NVDA, $MMC, $SHW, $CRM, $FIS, $PATH, $BABA)
• ClearBridge Investments Dividend Strategy ($ECL, $GM, $FCX, $LIN, $VMC)
• ClearBridge Investments Large Cap Value Strategy ($DE, $COP, $HLN, $INTC)
• Bireme Capital ($RICK, $NFLX, $TME)
• ClearBridge Investments Value Equity Strategy ($AA, $AZN, $GS)
• ClearBridge Investments Select Strategy ($WSC, $MDB, $SGRY, $YOU, $SYNH, $HZNP)
• Fiduciary Management Small Cap Strategy ($SSD, $G)
• Horizon Kinetics ($FNV)
• Tidefall Capital ($FRFHF)
• Mayar Capital ($GOOG)
• Distillate Capital Partners ($META, $PM, $ACN, $ADBE, $LVMUY, $BABA)
• ClearBridge Investments Small Cap Value Strategy ($SYNH, $NCR, $RLJ, $OFC, $EEFT, $ATEX, $SFM, $GT)
• ClearBridge Investments Global Growth Strategy ($HLN, $RELX, $SONY, $LLY)
• ClearBridge Investments SMID Cap Growth Strategy ($CTLT, $AVTR)
• Steel City Capital ($SATS, $CVNA, $LILA, $NWSA, $ATEX)
• LVS Advisory ($SCHW, $SSNC, $NFLX, $XPEL)
• Greystone Capital Management ($RMNI, $POL)
• Miller Value Partners Deep Value Strategy ($FTI, $GCI, $BBBY, $NBR, $TPC)
• Artisan Partners Small Cap Fund ($SWAV, $WING, $IRTC, $OPRX, $MTSI, $CWAN, $CDAY, $MPWR, $NOVT, $VMI, $HALO, $AZTA, $ARGX)
• Artisan Partners Mid Cap Fund ($SHOP, $BNTX, $ZS, $GNRC, $BURL, $CMG, $ON, $VEEV, $UBER, $TEAM, $CTLT, $MTCH, $BALL, $NYT, $ETSY, $AZPN)
• SaltLight Capital Management ($BAM, $MELI, $KARO)
• Artisan Partners Value Fund ($VRTX, $FMS, $FISV, $NFLX, $FDX)
• Longleaf Partners Small-Cap Fund ($MAT)
• Artisan Partners Global Discovery Fund ($BBVA, $CAE)
• Manole Capital Management ($GPN, $GS)
• Diamond Hill Large Cap Concentrated Strategy ($HD, $TXN, $HUM, $MSFT)
• Diamond Hill All Cap Select Strategy ($COOP, $ENOV, $CMPR, $GM, $STKL)
• Baron Growth Fund ($MSCI, $ANSS, $MORN, $BFAM)
• Artisan International Value Fund ($BABA)
• Baron Durable Advantage Fund ($BX, $META, $SPGI, $CME, $AMZN, $HEI, $TXN)
• Baron FinTech Fund ($V, $MQ, $TW)
• ClearBridge Investments All Cap Value Strategy ($THC, $SYF, $META)
• LRT Capital Management October Letter ($AZPN, $TPL, $PGR, $ABG, $MAR, $DPZ, $NOC, $MUSA, $CIGI, $PSA)
• Longleaf Partners International Fund ($BABA)
• Palm Harbour Capital ($IGT)
• Polen Capital Global Emerging Markets Growth Fund ($BABA, $KARO, $ATHM)
• Carillon Chartwell Mid Cap Value Fund ($VMC, $PEG, $MAA, $SCI, $DXC, $SYNH, $GPC, $LW, $PNFP, $RRX)
• Carillon Eagle Growth & Income Fund ($ADP, $KO, $MSFT, $RTX, $AZN)
• ClearBridge Investments Mid Cap Strategy ($AZPN, $ON, $EVBG, $EQT, $SIX)
• ClearBridge Investments Mid Cap Growth Strategy ($PCTY, $ETSY , $TFX, $CMG)
• ClearBridge Investments Small Cap Strategy ($RPD, $NOVA, $MTDR, $OMF, $ERESU)
• Baron Real Estate Fund ($LVS, $MTN, $REXR, $FND, $LOW, $PLD, $VMC, $EQIX, $BAM, $JLL, $MGM, $FBHS, $RRR, $CBRE, $NTST, $POOL, $CSGP, $PSA, $INVH, $ARE, $SITE, $TREX, $TOL, $LEN, $EQR, $SBAC)
• ClearBridge Investments Sustainability Leaders Strategy ($SHLS, $MP, $HAIN, $PGNY, $HAS, $ENPH, $TT, $RRX, $BE, $KEYS)
• Mittleman Brothers Global Value Equity Fund ($TRMR)
• ClearBridge Investments Global Infrastructure Income Strategy ($PAC, $LNG, $PCG, $AMT, $NEE, $CEG)
• ClearBridge Investments Global Infrastructure Value Strategy
• ClearBridge Investments International Growth ADR Strategy ($NVO)
• Baron Fifth Avenue Growth Fund ($TEAM, $EPAM, $SNOW)
• Horos Asset Management ($NOK, $GAMI, $AER)
• Bernzott Capital Advisors US Small Cap Value Fund ($WSC, $ADTN, $VNOM, $BV, $HCI, $KN, $CHRD, $EHC, $TCBI, $SRC, $QUOT)
• ClearBridge Small Cap Growth Strategy ($HCAT, $ITCI, $BJ, $AZTA, $CERT)
• Aristotle Capital Small Cap Equity ($HBAN, $MRCY, $ACHC, $CCRN, $PETQ)
• Aristotle Capital Value Equity Fund ($ADBE, $CFR, $SONY, $XYL)
• Aristotle Capital Small/Mid Cap Equity ($EHAB, $NCR, $CSL, $CTLT)
• Aristotle Atlantic Core Equity Strategy ($DAR, $BALL, $CMCSA, $HAL, $CI, $NOW)
• Aristotle Atlantic Focus Growth Strategy ($GH, $TMO)
• Aristotle Atlantic Large Cap Growth Strategy ($UNH, $CRM, $GPN, $ORLY, $TECH)
• Harding Loevner Global Equity Strategy ($ROK, $CSGP, $NFLX, $DE)
• Greenhaven Road Capital ($PAR, $APPS, $KKR, $ESTC, $TDOC, $HGTY, $APG, $CLBT)
• Cove Street Capital Small Cap Value Fund ($ECVT, $GBLI, $CMP, $VSAT, $AZZ, $HCCI, $LGF-B, $CARG, $CLMB)
• Aristotle Capital Global Equity Fund
• Diamond Hill Capital Long-Short Fund ($FIS, $WAT, $AMN, $PLMR, $WWW, $MPLN, $UPS, $WDFC, $CBZ, $HCA, $CMCSA, $ASAN)
• Aristotle Capital International Equity Fund ($HLN, $GSK, $CCJ)
• Weitz Investment Management Partners Value Fund ($CHTR, $KMX)
• Palm Harbour Capital ($IGT)
• THB Asset Management International (Ex-USA) Micro Cap Fund ($WDC)
• Coho Partners Relative Value Equity Fund ($PM, $MDLZ)
• Choice Equities Capital Management ($OEC, $WCC, $SITE, $FARM, $CROX, $EAT)
• Alger Weatherbie Specialized Growth Fund ($SPSC, $AMRC, $DRQ, $CLB, $PI, $DH)
• Alger Mid Cap Focus Fund ($CEG, $AVTR)
• ClearBridge Investments International Value Strategy ($NTR, $SNY)
• Ariel Investment Fund ($BOKF, $CAH, $PARA, $GCMG, $CLB, $MHK, $MANU, $ADT, $GNRC)
• Ariel Investments Appreciation Fund ($SCHW, $KN, $SWK)
• Ariel Investments Global Fund ($HLN, $BIDU, $GSK, $BAP, $GILD)
• Ariel Investments Focus Fund ($BAC, $WU, $MOS, $ZBRA, $ZIMV)
• Ariel Investments Small-Cap Value Concentrated Fund ($LFUS, $OSW, $BCO, $NCLH)
• Ariel Investments Small/Mid Cap Value Fund ($MSGE, $RCL)
• Ariel Investments Small-Cap Value Fund
• L1 Capital International Fund ($AMZN, $IQV, $ADBE, $AMD, $BKNG, $DHR)
• Meridian Growth Fund ($RIVN, $STE, $ON, $CLH, $QDEL, $SHC)
• Rhizome Partners ($UNVR, $CLAR, $HHC, $CLPR, $BERY, $FRPH, $CCRN, $AMBP)
• Heartland Advisors Opportunistic Value Equity Strategy ($SBUX)
• Voss Capital ($CROX, $IMXI, $EXTR, $GFF, $BXC)
• Meridian Small Cap Growth Fund ($PACK, $MNTV, $HCCI)
• Meridian Contrarian Fund($VWE, $DBRG, $FCNCA, $AXS, $ACHC)
• Meridian Enhanced Equity Fund ($BA, $COTY, $LW, $PINS, $STRY, $PARA)
• Matrix Asset Advisors ($HD, $APD, $VZ)
• Wasatch Global Investors Small Cap Growth Strategy ($PCTY, $HLIO, $XPEL, $SITM)
• Wasatch Global Investors U.S. Select Strategy ($FIVE, $YETI, $ICLR)
• Wasatch Global Investors Small Cap Core Growth Strategy ($SAIA, $RBC, $HLLY)
• Wasatch Global Investors Small Cap Value Strategy ($ROAD, $ENSG)
• Wasatch Global Investors Small Cap Ultra Growth Strategy ($ITCI, $NEOG, $AORT, $SILK, $FIVN)
• Stewart Asset Management ($UNH, $GOOG, $MA, $DHR, $PH, $ABT)
• Bonhoeffer Capital Management ($BERY, $ABG, $TIGO)
• Harding Loevner Emerging Markets Equity Strategy ($TCOM, $EPAM)
• Carillon Chartwell Small Cap Growth Fund ($WMS, $WSC, $TENB, $CALX, $LTHM, $AXNX, $RPD, $RADI, $TNDM)
• Conestoga Capital Advisors Small Cap Growth Fund ($ROAD, $MODN, $SPSC, $AXON)
• Mindset Value Wellness Fund ($GTBIF, $GDNSF)
• CrossingBridge Advisors ($GDDY, $IEP, $ATCO, $COO, $GIII)
• Conestoga Capital Advisors Smid Cap Growth Fund ($TKNO, $WLDN, $DGII, $DH, $BLFS, $EVI, $OMCL, $MRCY, $AZTA, $MLAB, $NEOG, $OLO, $HLMN, $TRNS, $USPH, $BFAM, $ATR, $PYCR)
• Hayden Capital ($SMRT, $SE)
• Mindset Value Fund ($NNI)
• Farnam Street Investments ($AMZN)
• Brown Capital Management Small Company Strategy ($VEEV, $BOOM, $NEOG, $CTKB, $EVO, $PAYC, $FIVN, $OMCL, $MANH, $BFAM)
• Conestoga Capital Advisors Mid Cap Growth Fund ($VEEV, $WCN, $TECH, $BALL, $WSO, $WST, $CSGP, $IT, $RGEN)
• TimesSquare Capital Management U.S. Small Cap Growth Strategy ($ITCI, $PYCR, $RBC, $ESAB, $WING, $PLNT, $RRX, $EYE, $IAS, $SWAV, $EVOP, $SI, $HLNE, $PRA, $AZTA)
• Lindsell Train ($PEP)
• Jackson Square Partners Large-Cap Growth Strategy ($BA, $ADBE)
• Yacktman Asset Management Yacktman Fund ($WFRD, $UHAL)
• Brown Capital Management International Small Company Strategy ($EVO, $CYBR)
• Brown Capital Management Mid Company Strategy ($BFAM, $MANH, $OMCL, $FIVN, $PAYC)
• Brown Capital Management International All Company Strategy ($SAP, $MELI)
• Jackson Square Partners SMID-Cap Growth Strategy ($ESTC, $CTLT, $PACB, $TWST, $TECH, $AZTA, $CRL, $WIX)
• TimesSquare Capital Management U.S. Small/Mid Cap Growth Strategy ($OM, $ONTO, $MPWR, $BJ, $CTLT, $PCTY, $SILK, $GNRC, $EME, $PWSC)
• TimesSquare Capital Management U.S. Mid Cap Growth Strategy ($IAC, $PINS, $ICLR, $OLPX, $CASY, $AR, $LNG, $LEGN, $ASND, $HUBB, $EFX, $TRU, $PCAR, $AZPN, $SSNC, $ENTG, $SBAC, $FMC, $CSL, $MLM)
• TimesSquare Capital Management U.S. Concentrated Growth Strategy
• TimesSquare Capital Management U.S. FOCUS Growth Strategy ($VEEV, $WCN, $SBNY, $CTAS, $RNR, $SNPS)
• Renaissance Investment Management Large Cap Growth Strategy ($BJ, $RJF, $ORLY, $CDNS, $ADBE, $LRCX, $ZTS, $GOOGL, $HUM, $NOW)
• Carillon Chartwell Small Cap Value Fund ($PDCO, $KFY, $CTS, $PLXS, $TWNK, $JACK, $UCBI, $HR, $MTX, $AIR)
• Renaissance Investment Management Midcap Growth Strategy ($VRT, $MOH, $EPAM, $HZNP, $TDG, $CHD, $SBAC)
• Renaissance Investment Management Small Cap Growth Strategy ($SWAV, $MODN, $COHR, $SITM)
• Carillon Scout Mid Cap Fund ($ROST, $MOH, $KEYS, $CHK, $TXRH, $MPWR, $GNRC, $WEC, $SIVB)
• Wasatch Global Investors Micro Cap Value Fund ($NSSC, $PI, $SITM, $IAW, $AMOT)
• Carillon Scout Small Cap Fund ($PI, $GTLS, $CHRS, $SUPN, $FN, $COHR, $SMTC, $OMCL, $FGRX, $USPH)
• Wasatch Global Investors Micro Cap Fund ($VWE, $SGC)
• 1 Main Capital ($KKR)
• Ave Maria World Equity Fund ($MIR, $CCEP)
• Ave Maria Focused Fund ($DBRG, $POWW)
• Ave Maria Growth Fund ($VVV, $NVDA)