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Granite Point Capital’s Returns, AUM, and Holdings

Warren Lammert founded Granite Point Capital, a long/short hedge fund with a focus on small-cap companies, in January 2004. The fund is headquartered in Boston, Massachusetts, and Mr. Lammert is its portfolio manager. Prior to launching his own fund, Warren Lammert honed his investment acumen for 14 years at Janus Capital Management LLC as a portfolio manager. Prior to joining Janus Capital, Lammert worked as a Research Associate and then Associate Analyst at Fred Alger Management. He is a co-founder and director of The Epilepsy Project and Epilepsy.com, and also serves on the board of directors of the Epilepsy Foundation and of FACES (Finding a Cure for Epilepsy and Seizures) at New York University. Warren Lammert graduated with distinction from The London School of Economics and Political Science with an M.Sc. in Economic History, and holds a Bachelor’s Degree in Economics from Yale University.

Granite Point Capital’s Return, AUM, and Holdings

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The fund uses a long/short investment strategy and mainly focuses on U.S companies, trying to uncover which of them have become mispriced and why. Granite Point Capital usually maintains around 60 positions and its approach has resulted in some seriously positive returns in recent years; it returned an amazing 42.52% in 2013, followed by 3.61% in 2014, 8.45% in 2015, 12.54% in 2016, 30.60% in 2017, and 36.22% in 2018 (through October 29). The fund’s total return was stood at 712.13% for a compound annual return of 15.35%, and its worst drawdown was 19.86. The fund managed $217.34 million of client assets on a discretionary basis on December 31, 2016 as disclosed in its Plain Brochure.

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 96.9%, beating the S&P 500 ETF (SPY) by over 40 percentage points (see the details here).

At the end of the third quarter Granite Point Capital’s equity portfolio was valued at $1.51 billion, and it made several changes to it during Q3, adding 37 new positions while also dumping 38 companies. Among the fund’s third quarter holdings are some of the 25 Most Popular Stocks Among Hedge Funds in 2018, like Facebook, Inc. (NASDAQ:FB), though the social media giant lost its place atop that list despite Granite Point’s continued support. More details about the most important changes to the fund’s 13F portfolio can be found on the next page.

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