Hayden Capital – Quarterly Letter (2018 Q1)

Dear Partners and Friends, Well, that was an interesting end to the quarter. Trade wars, Presidential tweets, administration shake-ups… the markets hate uncertainty, and this quarter delivered it in spades. Much of this is meaningless to us, given our 10-year investment lens. However, these events certainly cause volatility in the short-run, often driven by those without the luxury of the time horizon we have, who are trying to “trade around” Continue Reading →

Q1-2018 HCP Partners Letter

Dear Partner, Hazelton Capital Partners, LLC (the “Fund”) gained 1.8% from January 1, 2018 through March 31, 2018 and has returned 132% since its inception in August 2009. By comparison, the S&P 500 lost 0.8% in the same quarter and has returned 203% since the Fund’s inception. The Quarter in Review – Position Updates Hazelton Capital Partners ended the 1st quarter with a portfolio of 17 equity positions and a Continue Reading →

Dane 1Q Partners Letter

Dear Partner: We’re disappointed to report that in the 1 st quarter of 2018, Dane Capital Management (the “Fund”) generated a loss of 14.7%, net of fees and expenses. We certainly hoped to continue the momentum the Fund enjoyed last year, in which it produced a 50.2% return, net of fees and expenses. However, as we’ve stated, both when results have been disappointing or strong, Dane’s performance should be judged Continue Reading →

Arquitos Capital Partners – Q1 2018 Investor Letter

Dear Partner: Arquitos Capital Partners returned -9.1% net of fees in the first quarter of 2018. Our annualized net return since the April 10, 2012 launch is 30.2%. Please see page six for more detailed performance information. A few announcements before a discussion about the portfolio: Full letter for subscribers below: Please login to view the rest of this article – Not subscribed? Get our adfree exclusive content for only Continue Reading →