Southpoint Qualified Fund declined 1.5% net for the first quarter, while Southpoint Qualified Offshore Fund lost 1.6%. Meanwhile, the S&P 500 gained 7.5% and the Russell 2000 rose 2.7% for the first quarter.
The Southpoint funds averaged 114% long and 60% short during the quarter. Their long positions contributed 3.1% to their first-quarter return, while their shorts subtracted 4.2%. Southpoint's average long increased 3.1% in value, while its average short grew 7.3% in value during the quarter.
Q1 2023 hedge fund letters, conferences and more
Southpoint's Largest Contributor
In their first-quarter letter to investors, which was obtained by ValueWalk, the Southpoint Capital...
