Nishkama Capital's Bold Short Alphabet Bet Boosts 2016 Returns

Nishkama Capital Q1 Letter: Short Alphabet 

Nishkama Capital, the hedge fund founded by former Soros Fund Management analyst Ravee Mehta, returned -1.4% net in the first quarter of 2016, slightly outperforming the Russell 2000 and NASDAQ, which returned -1.5% and -2.4% respectively over the period and underperforming the S&P 500 which returned +1.4%. That’s according to the fund’s first quarter letter, a copy of which has been reviewed by ValueWalk.

Nishkama’s gross long ROIC, which is defined as gross long contribution divided by average long exposure, was 5.4% over the last 12 months, and gross short ROIC came in at around 8%, both of these numbers compare favourably to the NASDAQ’s total return of around 0.5% over the past 12...