This fund run by a SAC Capital alum bought restaurant stocks amid the pandemic

Prentice Capital Management was up 6.6% for the first four months of the year, compared to the S&P 500's 9.3% decline and the Russell 2000's 21.1% decline. The HFRX Equity Hedge Index was down 9.4% for the quarter.

Q1 2020 hedge fund letters, conferences and more

Gross and net exposures

In his first-quarter letter to investors, which was reviewed by ValueWalk, Michael Zimmerman of Prentice Capital said both their long and short books were profitable. He said their long book had a 3% gross attribution on the portfolio, while their short book contributed 7.6% to their gross performance. He also said they traded around position sizes and added and subtracted...