Newbrook Capital Advisors is an NYC-based hedge fund that was launched 13 years ago and it is managed by one of its co-founders, Mr. Robert Boucai. He previously worked at Karsch Capital Management as a research analyst, and at the Blackstone Group. The fund manages” research-intensive fundamental equity funds”, and on December 31, 2016, it held $1.8 billion in assets under management. Newbrook Capital Advisors has just released its Q1 2019 Investor Letter, a copy of which you can download below. The fund reported net performance for the first quarter of 2019 of 5.3%.
The 1st quarter net performance of Newbrook Capital Partners LP (the “Fund”) was +5.3%. Longs contributed +8.5% and shorts contributed -2.6% of gross performance. We raised our net exposure to the middle of our target range and while our gross exposure has increased, it was below our target range as stock correlation remained elevated. At the end of the quarter, the portfolio consisted of 24 long positions and 23 short positions with 99% gross exposure and 31% net exposure. Approximately 16% of the Fund’s gross exposure was invested outside of the U.S. The 1st quarter net performance of Newbrook Long Fund LP was +16.3%.
You can download a copy of Newbrook Capital Advisors’ Q1 2019 Portfolio Update here: