This Top Short Biased Hedge Fund Highlights Short Thesis For EV Battery RecyclingMichelle Jones
Spruce Point Research Activism Partners was up 0.59% net for February, compared to the inverse return of the Russell 1000, which was -2.9%, and the BarclayHedge Equity Market Neutral Index, which gained 0.89%. For the first two months of the year, the hedge fund with $196 million AUM is up 2%. The hedge fund claims an impressive return of inception of +70.3% net of fees "while the inverse return of the Russell 1000 and the BarclayHedge Equity Market Neutral Index have returned -54.9% and +2.0% over the same period".
Although it's been a difficult time for short-sellers, Spruce Point's short positions have been the biggest contributors so far this year. According to the fund's tear sheet and investor update, which was reviewed by ValueWalk, short positions contributed 1.5% in January and 0.7% in February, while long positions added 0.7% in January and 0.2% in February.
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