Worm Capital 1Q21 Commentary

Worm Capital’s commentary for the first quarter ended March 31, 2021. Q1 2021 hedge fund letters, conferences and more Dear Partners, In Q1 2021, our long/short equity growth strategy returned -16.92% net of fees, and our long-only equity strategy returned -7.10%. This was compared to the S&P 500 TR of 6.18%. Since inception in March 2017, our long/short equity growth strategy has annualized returns of 46.63% net of fees, compared to the S&P 500 TR of 15.76% over the same time period. Since inception in July 2012, our long-only equity growth strategy has annualized returns of 35.09% net of fees,…