Hawk Ridge Management returned 5% for the first quarter, outperforming the S&P 400's 3.8% return. The firm averaged a net exposure of 43%, ending the quarter with an adjusted gross exposure of 129%.
During the first quarter, the fund's five biggest winners were Super Micro Computer, Appian, Flutter Entertainment, Leonardo and Squarespace. On the other hand, Hawk Ridge's five biggest detractors were Livanova, Tradeweb Markets, International Flavors & Fragrances, Acadia Healthcare and Cognizant.
Q1 2023 hedge fund letters, conferences and more
Fund Updates
Hawk Ridge's alpha short exposure remained higher than its historical levels, at 24% at the end of the first quarter. However, the fund's long exposure is now back up to 88%, while its aggregate alpha exposure at a...
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