Hedge fund thesis for Spirit Airlines and AerSale, a recent SPAC merger

Prescience Partners returned 6.75% for the second quarter, underperforming the S&P 500's 8.55% return but coming out ahead of the Barclay Equity Long/ Short Index's 2.62% return. However, for the first six months of the year, Prescience is up 30.66%, doubling the S&P's 15.25% return and smashing the Barclay Equity Long/ Short Index's 9.27% return.

Q2 2021 hedge fund letters, conferences and more

With about $150 million in assets under management, Prescience Point Capital is a research-focused, catalyst-driven fund that seeks superior risk-adjusted returns uncorrelated to the broader market. Prescience invests globally and across asset classes, industries and capital structures. Eiad Asbahi founded the fund.

Biggest contributors and detractors

In his second-quarter...