Despite LL Call, Whitney Tilson Down 4.4% In June

Whitney R. Tilson’s Kase Capital declined 4.4% in June vs. -1.9% for the S&P 500. Year-to-date, the fund has declined by 3.2% compared to 1.2% for the S&P 500. In his second quarter letter to partners’ reviewed by ValueWalk, Whitney Tilson commented on this decline. Tilson remains confident in his thesis for each of the stocks for the fund. While a year-to-date decline of 3.2% is disappointing, only four months beforehand, during February, the fund gained 8.6% -- things can turn very quickly when holding a concentrated portfolio.

During the quarter the fund’s best performers on the short side were Lumber Liquidators (-32.7%), TMF (-27.7%),...