This hedge fund is struggling with costly shorts in 2019 – ValueWalk Premium

This hedge fund is struggling with costly shorts in 2019

RBI Capital Partners' long/ short fund was up 0.2% gross and down 0.3% net for the third quarter after strong September gains of 8.9% gross and 8.8% net. On a year-to-date basis, the long/ short fund is down 6.2% gross and 7.6% net. RBI's short-only Kodiak fund was down 6.2% gross and net for the third quarter following a gross and net decline of 0.3% for September. Year to date, the fund is down 22.1% gross and net.

Q3 2019 hedge fund letters, conferences and more

Largest positions
RBI's long portfolio produced about 500 basis points of positive alpha during the third quarter, with key contributors being Express, WW International and Urban Outfitters. Detractors on the long side were Unit Corp., Viacom and Delphi. The fund's short portfolio produced about 280 basis points of negative alpha during the quarter. Netflix,

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