Lakewood Capital Long Bombardier, Short Plug Power Inc

Lakewood Capital Management L.P. had a 1% gain net fees last quarter with long and short equity positions canceling each other out (3% v -3% respectively) and long/short equity positions gaining 1%, but the hedge fund’s letter to investors forecasts that better conditions for value investors are on the rise. Equity exposure was 87.5% long and 36.8% short, while fixed income was 4.0% long and 0.4% short. The top five positions made up 19.2% of equity capital and the top ten made up 34.5%

“In recent weeks, it looks like investors...