Adam Wyden’s ADW Capital 2016 letter to investors

Also see

2016 Hedge Fund Letters

ADW Capital Partners 4Q15 Letter

Partners and Friends of ADW Capital:

As you will see from the numbers below, we had a very strong close to 2016.  More importantly, the performance was in line with our NET ANNUALIZED return since inception of +26.61% or to put it another way, each dollar invested at the launch of the fund is now worth close to $4.12.

In running a concentrated portfolio, quarter-to-quarter volatility can and should be expected.  That being said, we continue to find extremely attractive investments.  In fact in the last quarter, we added a new core holding that I am very excited about and I will profile in our upcoming letter.  If I am close to right about its prospects, it can return multiples of our capital over the coming decade.  If you are interested in adding to your account or opening a new account the next deadline is Feb 1st.

Thank you again for your continued support and Happy New Year.

Adam

Below please find the un-audited Q4 and 2016 performance update for ADW Capital Partners, LP*:

Q4-2016
Gross: 23.94%
Net: 18.81%
YTD 2016
Gross: 34.81%
Net: 25.19%
Since Inception (Jan 2011)
Gross: 431.30%
Net: 311.88%
IRR:
Gross: 32.10%
Net: 26.61%
*Assumes a 2%/20% fee structure. Individual investor returns may vary based on the timing of subscriptions.