The Kennebec River Capital Opportunity Fund was down 23.3% gross and 23.5% net for the first quarter, which was slightly worse than the S&P 500's decline of 19.6%.
Q1 2020 hedge fund letters, conferences and more
Shorting during the pandemic
In his first-quarter letter to investors, which was reviewed by ValueWalk, Rob Spivey of Kennebec River said as news about COVID-19 leaving China started to spread, the fund was well-positioned with a significant short position.
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