Q2 2025 Fund Letters Round-Up ✍️

A curation of the best quarterly letters

Welcome to the 6th edition of the Fund Letters Round-Up newsletter.

It’s exactly what it says on the tin - a curation of quarterly letters from a variety of fund managers.

Not every Q2 letter is released in the first ten days of July. However, below are 37 letters to get stuck into right away.

Visit the Quarterly Letters page on the website to see the latest additions as we continually add them.

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Latest interviews with fund managers sharing their best ideas…

#116 - Alyx Wood (Kernow Asset Management) 📗

#115 - Dan Lysik (Miller Deep Value Select Fund) 📗

#114 - Erling Sorenson (Aligned Capital Management) 📗

YTD Performances (measured in USD on 30th June 2025).

S&P 500: 5.5%
Gold Oz: 24.7%
Bitcoin: 17.5%

Night Watch IM : YTD 20.71% / stocks mentioned - Camping World, Marex, Haypp, X-FAB Silicon Foundries, Dream International.

CFP SDL UK Buffettology Fund : YTD 6.08% / stocks mentioned - Craneware, NCC Group, Liontrust Asset Management, MJ Gleeson.