Lemelson Capital Management, a private investment management firm, today marked the second anniversary of the launch of its flagship fund, The Amvona Fund, LP which has ranked repeatedly among the world’s top performing hedge funds. The firm also today released the overall and net gains for the fund since inception, which were, respectively, 257.74 percent and 160.21 percent. The fund’s performance since inception has outperformed the benchmark S&P 500 Total Returns Index by 209.07 percent (111.54 percent net of all fees and expenses).
Lemelson Capital Management: The Amvona Fund performance
In the two years since The Amvona Fund’s inception, the fund has been repeatedly named one of the world’s top performing hedge funds by both financial research firms and media In July 2013 and again in October 2013, The Amvona Fund was named the world’s single best performing hedge fund by Barron’s and the world’s second best-performing hedge fund for the entire year1. In April 2014, Barron’s again named The Amvona Fund among the world’s best performing hedge funds. In February 2014, the fund was named among top performing hedge fund’s in the world by global research and consultancy firm Preqin and In July 2014, the fund ranked among the top five best performing hedge funds by BarclayHedge2.
Lemelson Capital Management’s short positions
“The strict application of a deep margin of safety that has been the hallmark of each commitment has led to better than average results. It is only with fidelity to this strict ‘value imperative’ that outcomes can be consistently above average over the long term, particularly given the great risks associated with a richly valued market,” said Emmanuel Lemelson, Chief Investment Officer of Lemelson Capital Management. The fund’s recent performance was driven in part by its significant short position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND), a previous short position in World Wrestling Entertainment, Inc. (NYSE:WWE), and its current long positions in Kulicke and Soffa Industries Inc. (NASDAQ:KLIC), Apple Inc. (NASDAQ:AAPL) and World Wrestling Entertainment, Inc. (NYSE:WWE) amongst others.
Lemelson Capital Management: The Amvona Fund Summary
The Partnership’s investment objective is to achieve better than average returns by investing in common stocks of fundamentally sound companies that are run by superior managers and are selling at a substantial discount to “intrinsic values.” The Investment Strategy is based on an investment philosophy that believes financial markets are basically efficient in properly appraising the value of most companies in the long run, but that securities are often mispriced in the near term.Therefore, at times solid enterprises run by good managers become available at a significant discount to their “intrinsic values.” By purchasing securities under these conditions, the Partnership seeks to greatly reduce the risk of loss to its principle, while consistently earning above average returns.
About Lemelson Capital Management:
Lemelson Capital Management, LLC is a private investment management firm focused on deep value and special situation investments. The firm’s flagship fund, The Amvona Fund, has been named repeatedly as one of the world’s top performing hedge funds. For more information, see: http://www.lemelsoncapital.com.