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Sellers Capital | Hedge Fund Tracker Notes

Sellers Capital

Sellers Capital | Hedge Fund Notes

The following piece on Sellers Capital is being published as part of our daily effort to track hedge funds in the industry. To review other hedge fund research notes please see our Hedge Fund Tracker Tool.

Resource #1: (11.17.08) The music stopped for Chicago-based hedge fund Sellers Capital in the third quarter after two previous quarters of high-octane returns. The firm—which managed $230 million as of July—reported a net loss of 49.96% in Q3 after running its flagship fund at breakneck gains of 65% in the first half.

Through September, the Sellers Capital Fund is down 24.46%.

In a letter to investors, Mark Sellers, managing partner, said he did not expect his first-half run to continue and was not surprised at all about the direction the fund took during the third quarter. “I am, however, very surprised about the extent and rapidity with which it happened,” he wrote.

“Talk about a mean reversion (in more ways than one!) After this quarter’s performance, the fund is still ahead of the broader market by about 20% annually since inception. I realize that’s little consolation for those who have added capital to the fund this year.” Source

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