FIfiscal
Fund Letters

Get a fund letter

Changed on

Returns the full extracted content of one fund letter: identity (investor, fund), the reporting period, letter-level narratives (market backdrop, portfolio positioning, performance summary), structured performance figures, and a thesis for every security the letter materially discusses — each with the resolved company attached.

Thesis fields are extracted verbatim-faithful from the letter (the sourceQuote field carries a representative quote). The original document is available at /v1/fund-letters/{letterId}/pdf.

Free-trial keys can read the letters of the investors listed by /v1/fund-letters/investors; other letters return 403.

get/v1/fund-letters/{letterId}

Request

  • Base URL
    https://api.fiscal.ai (the document declares no server; this is the origin it was published from)
  • URL
    https://api.fiscal.ai/v1/fund-letters/{letterId}
  • Auth
    API key in query parameter apiKey

Path parameters

letterIdstring required

Letter identifier (fscl_document_…).

Example:fscl_document_9GDB7GDZ834

Query parameters

apiKeystring

API Key (alternatively send via X-Api-Key header)

Response

The letter detail.

letterIdstring required
titlestring required
reportPeriodstring required

Canonical reporting period (YYYYQn).

reportPeriodYearnumber required
reportPeriodQuarternumber required
reportPeriodTypestring required
periodLabelstring required

Period as stated. Nullable.

publicationDatestring required

Nullable.

letterTypestring required
keyTopicsstring[] required
marketBackdropstring required

The letter's market commentary, summarized. Nullable.

portfolioPositioningstring required

How the letter says the portfolio is positioned. Nullable.

performanceSummarystring required

The letter's own performance narrative, summarized. Nullable.

firstPublishedAtstring required

When this letter first became available through the API (ISO 8601, UTC).

updatedAtstring required

When this letter's content or PDF last changed (ISO 8601, UTC); equal to firstPublishedAt until the letter is revised. Refreshed company data on each thesis (names, classification, market cap) is not a revision and does not move it.

pdfSha256string required

SHA-256 of the PDF served by /v1/fund-letters/{letterId}/pdf; it changes when the document is replaced. Nullable.

Example response

{
  "letterId": "fscl_document_9GDB7GDZ834",
  "investor": {
    "investorId": "fscl_investor_4SZX6KKJ822",
    "investorName": "Harris Associates / Oakmark",
    "investorType": "asset_manager"
  },
  "fund": {
    "fundId": "fscl_fund_9YFY9ZQK323",
    "fundName": "Oakmark Fund",
    "fundType": "mutual_fund"
  },
  "title": "Oakmark Fund Quarterly Commentary - March 31, 2026",
  "reportPeriod": "2026Q1",
  "reportPeriodYear": 2026,
  "reportPeriodQuarter": 1,
  "reportPeriodType": "quarterly",
  "periodLabel": "Quarter Ended March 31, 2026",
  "publicationDate": "2026-04-15",
  "letterType": "quarterly_letter",
  "keyTopics": [
    "artificial_intelligence"
  ],
  "performanceFigures": [
    {
      "period": "Q1 2026",
      "fundReturnPercent": 3.4,
      "benchmarkReturnPercent": 2.1,
      "excessReturnPercent": 1.3,
      "benchmarkName": "Russell 2000 Growth Index",
      "basis": "net"
    }
  ],
  "theses": [
    {
      "materialityBasis": [
        "substantive_thesis"
      ],
      "relationship": "long",
      "stance": "bullish",
      "conviction": "high",
      "positionSizePercent": 2.5,
      "positionSizeBasis": "net",
      "positionSizeDescription": "top-five position",
      "timeHorizon": "long_term",
      "thesisSummary": "Despite market fears over AI disruption causing a stock decline, Salesforce maintains strong quarterly results, improving margins, and is executing massive share repurchases, positioning it to emerge stronger.",
      "sourceQuote": "We believe these capital allocation actions position Salesforce to emerge stronger from today’s AI-related stock price drawdown.",
      "company": {
        "companyFiscalIdentifier": "FSCLC5CMZ4BQN997",
        "companyKey": "NYSE_CRM",
        "displayNameEnglish": "Salesforce, Inc.",
        "sector": "Information Technology",
        "industryGroup": "Software & Services",
        "industry": "Software",
        "subIndustry": "Application Software",
        "headquartersCountryCode": "US",
        "headquartersCountryName": "United States",
        "marketCapUsd": 202597910000,
        "primaryListing": {
          "ticker": "CRM",
          "exchangeCode": "NYSE",
          "exchangeName": "New York Stock Exchange",
          "operatingMic": "XNYS"
        }
      }
    }
  ],
  "firstPublishedAt": "2026-04-16T07:05:51Z",
  "updatedAt": "2026-04-16T07:05:51Z",
  "pdfSha256": "098bb3da399936a382827fafc1b96070f586b1dca1d796033c6e776ad2a00047"
}

Changes

  • eb2f5f533070Revision changes
    • info

      added the required property to the response with the status

    • info

      added the required property to the response with the status

    • info

      added the required property to the response with the status