Half Moon Reports Q3 Loss Of -2.4% As Short Profits Fail To Make Up For Long Losses

Half Moon Capital returned -2.4% net of fees in the third quarter of 2021, according to a copy of the firm's latest investor update, which ValueWalk has been able to review. Throughout the period, the hedge fund maintained an average exposure of 56.3% net, which was slightly above its average net exposure since inception (2012) of 37.1%.

Q3 2021 hedge fund letters, conferences and more

In the third quarter, longs generated a gross return of -5.2%, and shorts produced a gross return of 10.3%. Long exposure averaged 73.4% in the quarter, and short exposure averaged 17.1%, for an average gross exposure of 90.5%. This was slightly above the long-run average of 81.5%.