Third Quarter

For our third quarter letter, we wanted  to try a different format that we have used in past. What follows is a deeper dive into  the ten positions that hurt us most in the quarter, a quarter during which we were down 16.5% net versus the S&P 500 down 13.9%. By way of update, in Q4 through November 30th, Owl Creek was up 3.0% estimated net versus the S&P 500 up 10.7%.

Whole Letter Embedded Below:

Owl Creek letter

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