Kerrisdale Capital, despite a down month in March, is having a solid 2025. For Q1, the company reported a +9.4% gain, with +7.5% in January, +3.7% in February, and -1.8% in March.
Compared to major indices, the company outperformed, with the S&P 500 reporting -4.3% Q1 returns and the Barclays Hedge Fund Index hitting +0.2% for the first quarter.
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Positions in Latin America
With the enactment of high tariffs on China, Latin America has the potential to reap the benefits from the situation. Many manufactured products produced in China and exported to the U.S. can be replaced by Latin America's developing production capacity. Kerrisdale details the bullish case for three companies in the region, according to a Q1 2025 letter to investors obtained by Hedge Fund Alpha.
