Apis Flagship Fund 3Q21: “The Great SPAC-ulation”
Apis Flagship Fund commentary for the third quarter ended September 2021. Q3 2021 hedge fund letters, conferences and more Dear Partners, Our Flagship Fund was down 1.3% net in Q3 2021. During the past quarter, our longs detracted 4.5% (gross), while our shorts contributed 3.6% (gross). At the end of September, the Fund was approximately 51% net long with the portfolio 87% long and 36% short. Performance Overview (Gross Returns)Strong relative performance in September brought overall performance in-line with global indices for the quarter. Long performance was hindered by relative underperform...