Half Moon Capital, the long/short equity hedge fund specializing in small and mid-cap stocks, returned 9.7% net of fees in the first quarter of 2021 compared to a return of 6.2% and 7.5% for the S&P 500 and HFRI Hedge Fund indices, respectively. The average net exposure of the fund was 51.9% during the period.
Q1 2021 hedge fund letters, conferences and more
In the firm's first-quarter letter to investors, which ValueWalk has been able to review, Eric DeLamarter, Half Moon's managing partner, explained that during the first three months of the year, the hedge fund's long book generated a 21.9% gross gain, substantially outperforming the wider market.
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