2024-07-27 23:59:00 ET
Summary
- For the second quarter of 2024, Deep Sail Capital Partners (the "Fund") returned -4% net of fees while averaging 87% net long exposure.
- The long portfolio saw several positions in small and microcaps trade down in Q2 as the overall market moved away from small caps.
- The short portfolio generated a positive return for the fund in Q2 for the second quarter in a row.
- 2024 has been a bifurcated market, where only a few mega tech stocks have done well, and therest of the market is flat to down.
- Where we go from here is largely dependent on the outcome of the US election.
Investors,
For the second quarter of 2024, Deep Sail Capital Partners (the "Fund") returned -4% net of fees while averaging 87% net long exposure. The fund returned 8.5% net of fees year to date through the second quarter. Please consult your individual capital account statements for your individual net returns.
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For further details see:
Deep Sail Capital Partners Q2 2024 Investor Letter