The first quarter of 2016 was a period Steamboat Capital Partners would rather forget. For the period, the fund returned -5.3% gross and -5.9% net as short positions to lag down the portfolio. At the end of March 2016, the fund has total gross exposure of 135.2%, 49.4% short and 85.8% long. That’s according to the fund’s first quarter letter to investors a copy of which has been reviewed by ValueWalk. During the first three months the year the long portfolio produced a return of -1.1% and the short portfolio produced a return of -4.3%. Since inception (July 2, 2012)…
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