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Freshford Capital Management’s Returns, AUM, and Holdings

Freshford Capital Management is a decade-old New York-based hedge fund. It was founded by its current president and portfolio manager, Michael G. Doheny, on October 1, 2008, in Rye Brook where it still has its headquarters. Prior to founding Freshford Capital Management, Mr. Doheny cut his teeth at Kensico Capital for eight years. Mr. Doheny’s ownership stake in Freshford Capital Management is between 50% and 75%.

Freshford’s 13F portfolio is relatively large, being valued at $633.98 million. The fund primarily invests in the public equity and hedging markets in the United States. It utilizes a long/short investment strategy, which has brought back some positive returns in previous years. Freshford Capital Management is mostly interested in investing in companies with smaller market caps that operate in two sectors: technology and services.  It seeks out businesses that it believes are currently underpriced, and takes long position in them, while it takes short positions in businesses it thinks are overpriced. Its picks have turned out to be wise, as the fund delivered a return of 16.06% last year, and had an average return of 9.72% between 2015 and 2017, placing it 85th on Barron’s 2018 list of the top 100 Hedge Funds. According to Freshford Capital Management’s Form ADV filed on March 3, 2018, it has around $873.13 million in regulatory assets under management.

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Insider Monkey’s flagship strategy identifies the best performing 100 hedge funds at the end of each quarter and invests in their consensus stock picks. This way it is always invested in the best ideas of the best performing hedge funds and is able to generate much higher returns than the market. Since its inception in May 2014, our flagship strategy generated a cumulative return of 121% vs. a cumulative gain of 66.6% for the S&P 500 ETF (SPY) (see the details here).

During the second quarter Freshford Capital Management made several changes to its equity portfolio. It made three new additions to it, raised its positions in ten companies, lowered its stakes in four, and sold out of five holdings. More details about these changes can be found on the next page.

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