Hawk Ridge Outperforms As Short Book Surges [Exclusive]

Value-focused hedge fund Hawk Ridge Management generated a net return of -5.8% in the second quarter of 2022, compared to a return of -15.4% for the S&P 400. The fund outperformed the market with an average net exposure during the quarter of 48.5%.

It ended the quarter with adjusted gross exposure of 118%, according to a copy of its second-quarter update, which ValueWalk has been able to review.

In its update, the fund notes that its gross exposure is a bit lower than management would like, and as such, the firm is planning to increase gross exposure “into the 125%-150% range.”

Q2 2022 hedge fund letters, conferences and more

However, while gross...