Hedge funds have been one of the big winners of 2020. Funds and their managers have faced criticism over the past decade for failing to match the broader market's performance, despite their higher fees and the advantages they claimed to have over other market participants. Q3 2020 hedge fund letters,...
Below is our 13F roundup for some high profile names for the three months to the end of September 2020 (Q3) The statements only include equity positions as 13Fs do not include cash and debt holdings. What's more, the filings only provide a snap-shot of each fund's portfolio at the...
Data suggests quant hedge funds are having a lousy 2020, especially compared to traditional stock pickers. According to Bank of America, for the year to the end of September, the average quant US equity mutual fund was up just 3.3% compared to 8.3% for the average stock picker. Other research suggests...
Lee Ainslie's Maverick Capital gained 5.6% for the quarter to the end of September, according to a copy of its latest investor update, which ValueWalk has been able to review. Following this performance, the flagship investment fund was up 8% for the year to the end of September. In comparison,...
Electron Capital's flagship Electron Global fund reported a strong third quarter. According to a copy of the firm's third-quarter investor update, a copy of which ValueWalk has been able to review, the estimated net return for the Electron Global Fund LP at the end of September quarter-to-date was +27.4%. Q2...
Gates Capital Management's flagship ECF value fund added 9.7% net in the third quarter of 2020. That is according to a copy of the firm's latest investor update, which ValueWalk has been able to review. Q2 2020 hedge fund letters, conferences and more Following this performance, the fund remains down 6.8%...
The fortunes of the world's hedge funds have continued to vary widely this year. While the industry as a whole recorded its best five-month performance since the financial crisis in the months to the end of August, the spread of returns has exploded. Q2 2020 hedge fund letters, conferences and...
Lee Ainslie's Maverick Fund USA enjoyed its "strongest quarter in the fund's history" during the three months to the end of June. According to a copy of the firm's second-quarter letter to investors, which ValueWalk has been able to review, Maverick Fund USA gained 18% in the second quarter. Following...
At the beginning of July, Lansdowne Partners, one of Europe's oldest and best-known hedge fund managers, announced that it was closing its flagship hedge fund after a run of poor performance. The closure is the latest in a string of high-profile hedge funds that have decided to shut up shop...
Roubaix Capital's small and mid-cap US equity long/short strategy ended the first quarter of 2020 down 0.3% net. According to a copy of the firm's first-quarter investor update, a copy of which ValueWalk has been able to review, Roubaix's small and mid-cap equity strategy outperformed its benchmark, the HFRI Equity...
Bridgewater Associates and former co-Chief Executive Officer Eileen Murray are still negotiating an exit package three months after she left the world’s biggest hedge fund -- a fight that has dragged on because Bridgewater’s offer is both less than what has been paid to men who left the firm...
The market sell-off in March allowed Canyon Capital Partners' Distressed Opportunity Fund III (CDOF III) to deploy virtually all of its commitments, according to a June investor update, a copy of which ValueWalk has been able to review. According to the update, coming into March, the newly formed fund had...
Harris Kupperman's Praetorian Capital had a pretty rough first quarter. The fund lost 41.2% net of fees during the first quarter of 2020. That's according to the firm's first-quarter investor letter, a copy of which ValueWalk has been able to review. Writing in his first-quarter investor letter, Kupperman said that...
Glen Kacher's Light Street long/short fund returned 18.1% during the first quarter of 2020. That's compared to a loss of -19.6% for the S&P 500 and - 13.9% for the Nasdaq Composite over the same period, according to a copy of the fund's first-quarter letter to investors, which ValueWalk...
With most hedge funds struggling to turn a profit this year, any fund that has been able to achieve a double-digit return in the first half is worthy of a second look. David Capital, a small hedge fund founded and managed by Adam Patinkin CFA, achieved a high-teens for investors...
Seth Klarman is one of the greatest value investors alive today. Over the past few decades, his hedge fund, the Boston-based Baupost, which manages around $30 billion of assets for clients around the world, has achieved an average annualized return in the region of 20%. What's more, Baupost often...
At least one hedge fund is taking advantage of the current market volatility to increase its exposure to equities. Long/short equity hedge fund Maverick Capital, which was founded by Tiger Cub Lee Ainslie, is using market declines to "upgrade the quality of the portfolio," by adding to companies that were...
The recent market turmoil has helped a handful of hedge funds generate substantial returns for their investors. According to the Financial Times, RG Niederhoffer Capital Management's flagship diversified fund, which is one of the world's oldest quantitative hedge funds, has gained 37% so far this year. That's compared to a...
Hedge fund results have been coming in thick and fast over the past few weeks. The results from the industry's most prominent players have attracted plenty of attention. Q4 2019 hedge fund letters, conferences and more rawpixel / Pixabay If you’re looking for value stocks, and exclusive access to value-focused hedge fund...
In his now out-of-print book, Margin of Safety: Risk-averse Value Investing Strategies for the Thoughtful Investor, Seth Klarman opined that value investing could be a "very lonely undertaking." He went on to add that value investors may often experience "poor, even horrendous" performance compared to the rest of the market...
Who said value is dead? Voss Capital's Voss Value Fund is having a cracking 2019. For the second quarter, the firm returned 8.42% gross and 6.71% net to investors. Following this performance, for the year to the end of June the fund has returned 19.87% and 25.42% net and...
Dan Loeb's Third Point Capital is up 13.1% net of fees this year according to investor correspondence. The firm's performance this year contrasts sharply with Third Point's performance in 2018 when the firm ended the year with a loss of -11%, its worst performance since the financial crisis. For more...
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