Another year is in the books, and 2020 is off and running. Baupost's Seth Klarman weighed in on what has been going on in the economy and the markets in his fourth-quarter letter to investors, which was reviewed by ValueWalk. See more from Baupost 2019 letter here Fed moves in 2019 Klarman...
Greenlight Capital was up 13.8% in 2019, underperforming the S&P 500's 31.5% gain. According to the fund's fourth-quarter letter to investors, which was reviewed by ValueWalk, the short portfolio lost 20.1%, while the macro holdings added 1.5% to returns before fees. Their shorts went up a little less than...
David Einhorn's Greenlight Capital was up 13.8% for 2019, compared to the S&P 500's 31.5% gain. The long portfolio contributed 37.4%. In their year-end letter to investors, which was reviewed by ValueWalk, the Greenlight team said they were rather disappointed with their 2019 returns because as of the end...
Electron Capital Partners gained 7.4% net in all of 2019 following its 3.4% return for the fourth quarter. The fund has about $1.3 billion in assets under management. jarmoluk / Pixabay Flight to safety weighs on U.S. returns In his year-end letter to investors, which was reviewed by ValueWalk, Managing Partner Jos...
We've been receiving quite a few tear sheets reporting December and full-year results for many hedge funds. While most of the funds have done quite well, Blue Mountain got killed last year. Blue Mountain CAIS CA Ltd. was down 3.21% for December and 16.54% for the full year. Blue Mountain...
Evanston Capital Management's Weatherlow Fund of funds was up 1.8% net for December and 13.5% for all of 2019. As of Jan. 1, the fund had $3.1 billion in assets, while the firm had $3.3 billion in assets under management. The fund's aggregate gross exposure was 256%, while its...
Alkeon Growth Partners was up 1.47% for the month of December and up 35.11% for 2019, as global equities climbed. The fund's net exposure was 60.4%, while its gross exposure was 167%. It had 112 long positions and 124 short positions in December, according to its December letter, which...
Aristides Fund LP was up 1.81% for December, while Aristides Fund QP was up 1.72%. For all of 2019, each of the two funds gained about 11.5%. Across both funds, management added about 76 basis points of net alpha in December. In all of 2019, the funds added about...
Blue Mountain Credit Alternatives fund was down 1.77% gross for November and 10.72% for the first 11 months of 2019. The fund's fundamental credit strategy was the main loser during November with a 1.48% decline. The vast majority of that decline came in distressed and special situations. The structured...
At this point, fund managers have been talking about a market top for so long that the conversation has virtually become a broken record. However, these conversations are necessary and will continue until the next recession. Generation PMCA, a value fund, discussed the market top in its third-quarter letter...
Canyon Distressed Opportunity Funds II sent its third-quarter letter to investors last week. The fund has been winding down its portfolio and will continue to do so in the coming months. Canyon issued its first two capital distributions in July and August and started its harvesting period on Sept....
Aristides Fund LP was up 0.86% for November, while Aristides Fund QP, LP was up 0.84%. On a year-to-date basis, the former is up 9.56%, while the latter gained 9.62%. Through the end of November, the funds are tracking close to the HFRI Equity Hedge Fund Index, which is...
Moon Capital Global Equity Partners was up 2.5% net for the third quarter. For the first nine months of the year, the fund is up 6.4% net. Q3 2019 hedge fund letters, conferences and more photo-graphe / Pixabay The fund has changed things up over the last 12 months, and John Moon...
Regal Funds Management was down 8.3% for October, but it's up by more than 89% year to date, despite October's negative return. Q3 2019 hedge fund letters, conferences and more rawpixel / Pixabay Regulatory investigation revealed It was revealed late last month that the fund is under investigation by the Australian Securities and...
ValueWalk has been receiving another influx of hedge fund letters over the last few weeks. We're highlighting some of the more interesting positions that have been mentioned recently. Q3 2019 hedge fund letters, conferences and more Goumbik / Pixabay Lone Pine boosted its exposure to (more…)
The BlackGold Opportunity Fund was down 1.6% in October, continuing the months-long downtrend as the energy sector continued to take a beating. The fund did outperform its benchmark, the Barclays HY Energy Index, which declined 2.3% in October for a year-to-date return of 0.3%. Year to date, the BlackGold...
12019 / Pixabay The Sound Point Credit Opportunities Fund was down 2.36% net in October, underperforming the HFRI Event Driven Index's 0.72% gain. The Credit Suisse High Yield Index was up 0.18% for the month, while the Credit Suisse Leveraged Loan Index was down 0.49%. Year to date, Sound Point...
The Cota Growth Offshore Fund was up 5.3% for the second quarter, compared to the Russell 2000's gain of 1.7% and the Nasdaq Composite's 3.6% gain during the same time period. In July, Cota returned 5.5%, compared to the Russell 2000's 0.5% gain and the Nasdaq Composite's 2.1% gain....
Deer Park Road's STS Master Fund was up 4.17% for August, according to the fund's quarterly investor letter. For comparison, the S&P 500 Total Return index was down 1.58% for the month, while the Credit Suisse Hedge Fund Index was down 0.14%. For the first eight months of the...
Image source: Fannie Mae The battle over Fannie Mae and Freddie Mac continues, but a new court hearing has prompted an upgrade on the GSEs' shares from bank analyst Dick Bove of Odeon Capital. He now rates the preferred shares of both government-sponsored enterprises at Buy, while he rates their...
The third quarter was a rather difficult one for most hedge funds, but this hedge fund came away with a tidy gain of 9.23% driven mainly by the timing of one giant investment. The fund outperformed the S&P 500's gain of 0.21% and the HFRI Equity Hedge Index's 0.63%...
HG Vora Capital Management posted a net return of 0.1% for the third quarter, bringing its year-to-date return to 7.7%. The fund's credit strategies detracted 0.6%, while its equity strategies returned 1% to its gross return of 0.4% for the quarter. Q3 2019 hedge fund letters, conferences and more kellepics /...
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