Ivory Fund Sees Positive Returns Amidst Negative Stock Market

As stocks tumbled in January, sporting nearly around a 3% loss in the S&P 500 (.INX), Ivory Flagship Master Fund was up 1.17 percent, according to an investor letter reviewed by ValueWalk. The fund’s net long exposure was 23.5% of the portfolio, with 90 long positions and 56 short positions.  In regards to gross exposure, the fund played heavily in the mega cap sector, as stocks with a market capitalization over $25 billion represented 76.5% of the portfolio.  Mid-cap stocks were the second largest gross exposure at 43.3%, followed by large cap at 35.6% and small cap with just 6.2%…