The investor letters outline the fund’s top holdings as well as highlight a recent investment or a current holding. The letters provide an overview of the holdings and the thought process behind specific investments.  The letters are one of the best ways to conduct diligence on the fund.  To learn more about the fund, or for a complete set of letters please click to  – contact us.

Most recent investor letters

Main Fund Q4

Partners Fund Q2

Selection of past investor letters:

Q1 2023

Q1 2022

Q1 2021

Q1 2020

Q1 2019

Q1 2018

Q1 2017

Q1 2016

Q1 2015

Q4 2013

Q2 2023

Q2 2022

Q2 2021

Q2 2020

Q2 2019

Q2 2018

Q2 2017

Q2 2016

Q2 2015

Q3 2014

Q3 2023

Q3 2022

Q3 2021

Q3 2020

Q3 2019

Q3 2018

  Q3 2017

Q3 2016

Q3 2015

Q4 2014

Q4 2023

Q4 2022

Q4 2021

Q4 2020

Q 4 2019

Q4 2018

  Q4 2017

Q4 2016

Q 4 2015

Partners Fund investor letters:

Q4 2017

Q4 2018

Q4 2019

Q4 2020   

Q4 2021

Q4 2022

Q1 2018

Q1 2019

Q1 2020

Q1 2021

Q1 2022

Q1 2023

Q2 2018

Q2 2019

Q2 2020

Q2 2021

Q2 2022

Q2 2023

Q3 2018

Q3 2019

Q3 2020

Q3 2021

Q3 2022