Rowan Street Capital 2Q20 Commentary: Up 43% YTD: Long SPOT Thesis

Rowan Street Capital commentary for the second quarter ended June 30, 2020. Q2 2020 hedge fund letters, conferences and more Dear Partners, Rowan Street Capital had a very successful second quarter of 2020. The fund returned +43.2% (gross) vs. S&P 500 increase of 20.5%. Year-to-date through June 30, the fund returned +20.5% vs. S&P 500 decline of (3.1)%. Longer term, over the past 30 months, we have outperformed the S&P 500 by approximately 40% (please refer to the graph below). Since approximately 40% of our portfolio is invested in international companies, we have included the MSCI All Country World ex-U.S….