We previously wrote about Whitney Tilson and Glenn Tongue’s break up of T2 Partners. We heard from Tilson, but heard nothing from Tongue or details about what would happen to Tilson Dividend Fund managed by Zeke Ashton.
We have obtained a letter which provides further detail into these two topics, and more on the Tilson Focus fund. Whitney Tilson did not send this letter in an email to many followers. This letter to investors in his funds.
According to a letter to investors, Zeke Ashton will remain the portfolio manager of the Tilson Divdend Fund. Ashton will continue to run his successful hedge fund, Centaur Capital Partners.
Glenn Tongue has been appointed as the sole portfolio manager of the Tilson Focus Fund. Tongue will also be establishing an advisory serice.
Tonuge has released the following statement:
I am delighted to be assuming my duties as the sole portfolio manager for the Tilson Focus Fund. It has been a pleasure working with Whitney over the years, and I extend my thanks to him for this confidence. As noted in his letter, the investment objective and strategy of the fund remains the same. I expect to continue the Focus Fund tradition of investing in a relatively concentrated portfolio of securities that I believe offer compelling value. While I expect the market to remain volatile and unpredictable, I believe that the current environment presents great opportunities for patient investors with a long-term, value-oriented approach. I am highly motivated to live up to the high expectations our investors have and look forward to reporting our progress to you in the years to come.
Tilson notes that things are not finalized and more information will be released to investors in the coming months.