top of page

Independence.

​

Focus.

​

Transparency.

​

Performance.

Letters to Partners
 

Every quarter, we publish a letter to our partners to help them better understand our performance and to share our perspective on the portfolio. We believe that these letters as well as the articles we share, provide a greater understanding of our investment philosophy. Please contact us to subscribe!

2023

​

First Quarter

​

Second Quarter

​

Third Quarter

​

Fourth Quarter

2021

​

First Quarter

​

Second Quarter

​

Third Quarter

​

Fourth Quarter

​

2020

​

First Quarter

​

Second Quarter

​

Third Quarter

​

Fourth Quarter

​

​

​

2012 

​

First Quarter


Second Quarter

​

Third Quarter

​

Fourth Quarter

2010

​

First Quarter

​

Second Quarter

​

Third Quarter

​

Fourth Quarter

bottom of page