Stanphyl Capital Management is a New York-based hedge fund that was launched by Mark Spiegel in 2011. Before launching his own hedge fund, Mark Spiegel sharpened his investment skills at Piper Jaffray & Co. where he served as a Principal and assisted in managing private investments in public companies often of micro market caps. The fund, which relies on long/short strategy, recently published its investor letter, a copy of which you can download below. In it, among other things, the fund reported its recent and since inception returns, posting a June loss of 11.5% versus 7.0% for the S&P 500.
“Friends and Fellow Investors:
For June 2019 the fund was down approximately 11.5% net of all fees and expenses. By way of comparison, the S&P 500 was up approximately 7.0% while the Russell 2000 was up approximately 7.1%. Year-to-date 2019 the fund is up approximately 17.5% while the S&P 500 is up approximately 18.5% and the Russell 2000 is up approximately 17.0%. Since inception on June 1, 2011 the fund is up approximately 93.3% net while the S&P 500 is up approximately 159.2% and the Russell 2000 is up approximately 106.7%. Since inception the fund has compounded at approximately 8.5% net annually vs 12.5% for the S&P 500 and 9.4% for the Russell 2000. (The S&P and Russell performances are based on their “Total Returns” indices which include reinvested dividends.) As always, investors will receive the fund’s exact performance figures from its outside administrator within a week or two and please note that individual partners’ returns will vary in accordance with their high-water marks.”
You can download a copy of Stanphyl Capital Management’s Investor Letter here:
You can also see the list of our 2019 Q2 investor letters and download them on this page.