Seth Klarman's Baupost recorded "strong" gains for the second quarter, although precise numbers were not included in the July 23 letter to investors, which was reviewed by ValueWalk. Klarman said that during the first quarter, they were "substantial purchasers of securities," while during the second, they were "significant net...
Partners Group's Private Equity Master Fund posted gains for June. Class I was up 2.5%, while Class A was up 2.4%. For the second quarter, Class A was up 13%, while Class I was up 13.2%. However, they're in the red for the full year, with Class A down...
June was another good month for hedge funds, although not as good as May. The Eurekahedge Hedge Fund Index gained 1.38% in June as the global equity market drove gains among hedge funds. However, hedge funds underperformed the MSCI ACWI IMI, which was up 2.7% for June. The tech-heavy...
Anthony Bozza's Lakewood Capital was up 10.7% net for the second quarter. At the end of June, the fund was 107.4% long and 44.9% short for a net equity exposure of 62.5%. Lakewood was also 1.1% long and 8.8% short fixed income securities, resulting in a net fixed income...
JAM Partners was up 0.2% for the second quarter, bringing its return for the first half of the year to -16.3%. The S&P 500 gained 20.5% during the second quarter, while the KBW Bank Index was up 15.2%. The two indexes are down 3.1% and 32.9%, respectively, for the...
Controversy over the Trans Mountain Pipeline extension remains as work on the project continues even during the COVID-19 pandemic. Monthly updates sent to the Canada Energy Regulator and obtained by ValueWalk show that there is still much more work to do, although the project is expected to be completed...
The Laurium Limpopo Fund gained 10.4% in the second quarter but is down 18.3% for the first half of the year after a turbulent first quarter. Those numbers are roughly in line with the market as African markets rebounded in the second quarter similarly to how emerging and frontier...
A lot has happened since the coronavirus pandemic began, but aside from the temporary selloff in March, the stock market has continued to hum along as if nothing has been happening. There's no denying that the financial markets have been changed by the pandemic, and investors should be thinking...
Acacia Capital was up 12.27% for the second quarter, although it remains in the red for the year because of how difficult the first quarter was. The fund is down 14.25% for the first half of the year. Q2 2020 hedge fund letters, conferences and more mohamed_hassan / Pixabay Top five holdings Acacia's...
Tail risk hedges are designed to only pay off when the markets suddenly plunge, so many investors don't have the stomach to carry them. However, one expert on tail risk funds advises investors not to be in the market right now if they aren't using a tail hedge. Q2 2020...
The Canyon Balanced Fund was up 4.58% in May, bringing its return for the first five months of the year to -20.1% net. In their May letter to investors, which was reviewed by ValueWalk, the Canyon team said the month's strength was driven partially by expectations that the policy...
Editor’s note: This article is part of a series ValueWalk is doing on tail risk hedge funds. The series is based on over a month of research and discussions with over a dozen experts in the field. All the content will be first available to our premium subscribers and...
DG Value Partners was up 1.06% for June, although the fund remains in the red year to date. DG Value is down 7.46% net for the first half of the year. Q2 2020 hedge fund letters, conferences and more Positive and negative contributors The fund's top five long positions during June were...
Nathaniel August's Mangrove Partners was down 0.5% in May and 6.8% in April, bringing its quarter-to-date return for the second quarter to -7.2% and its year-to-date return for the first five months of the year to -35%. At the end of May, the fund's gross exposure was 194%, while...
Partners Group Private Equity gained in May. The net asset value for Class I rose 3.5%, while the net asset value for Class A grew 3.4%. The total fund size increased to $5.6 billion. For the first five months of the year, Class A is down 4.4%, while Class...
Tyro Absolute Return Fund was down 1.5% for May. The fund's main contributors in May were Super Micro Computer, which gained 1.6%, Shyft Group, which was up 1%, and GCI Liberty, which gained 1%. Detractors in May include Recro Pharma, which fell 2.6%, index shorts and hedges, which declined...
Millennium Management was up 2.9% in June, bringing its year-to-date return to 10.1%, which is impressive given the painful selloff in March. Q1 2020 hedge fund letters, conferences and more mohamed_hassan / Pixabay The firm also announced that Ross Garon will be joining as its global head of quantitative strategies. He will...
Short selling is a controversial practice that sparks heated debates, including during the Virtual Fraud Fest at the Berkeley Center for Law and Business. Carson Block of Muddy Waters and attorney Michele Johnson of Latham and Watkins locked horns on several issues related to short selling and the legalities...
Throughout history, people have blown the whistle when they've seen companies do things that aren't right, but the number of whistleblowers has certainly increased in the years since the Dodd-Frank Act. At the Berkeley Center for Law and Business' Virtual Fraud Fest last week, panelists talked about whistleblower trends. Q1...
Critics of Tesla say the main reason investors buy its stock is because they like the company's story. So what would it take for the company's story to fall apart? At the Virtual Fraud Fest at the Berkeley Center for Law and Business, experts discussed CEO Elon Musk and...
Editor’s note: This article is part of a series ValueWalk is doing on tail risk hedge funds. The series is based on over a month of research and discussions with over a dozen experts in the field. All the content will be first available to our premium subscribers and...
Editor’s note: This article is part of a series ValueWalk is doing on tail risk hedge funds. The series is based on over a month of research and discussions with over a dozen experts in the field. All the content will be first available to our premium subscribers and...
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