Southpoint Adds 7.3% After “Substantial Pivot” In Markets; Fund Likes This Financial Stock [Exclusive]

For the quarter ended September 30, 2022, Southpoint Qualified Fund added 7.3% net of fees and expenses. In comparison, the S&P 500 declined -4.9% in the quarter, and the Russell 2000 lost -2.2%.

For the year to the end of September, the fund is down -12.3% compared to -23.9% for the S&P 500 and -25.1% for the Russell 2000. Since its inception in July 2004, Southpoint’s flagship fund has outperformed the S&P 500 and Russell 2000 by a total of 92% and 188.1%, respectively.

According to a copy of the fund’s third-quarter update, which ValueWalk has been able to review, during the quarter, it had an average exposure of 110% long and 61% short.