Margate Capital, the tech-focused hedge fund founded by ex Paulson & Co employee Samantha Greenberg, had a mixed 2017. Even though the Tech sector was the best performing sector in the S&P 500 last year, Margate produced a net return of 7.7% for investors according to a copy of the firm's fourth quarter and full year letter to investors, a copy which has been reviewed by ValueWalk.
[klarman]
While the fund had a healthy year on the long side, short positions proved more tricky. On a full-year gross return of 11.3%, long positions added 21.8% on an average long exposure of 95% as short positions detracted -8.8% on an average short exposure of 47%.
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