Hedge Fund - ACK Asset Management

ACK Asset Management is a Scarsdale-based hedge fund co-founded by Richard S. Meisenberg and John Henry Reilly III in 2005. The fund specializes in small cap and mid-cap equities because there are more stocks in these market caps than the large-caps and these stocks are usually the least efficiently priced. A broad economic outlook, a long/short strategy, and an eye for catalysts are the mainstays of Meisenberg's strategy.

Richard S. Meisenberg and John Henry Reilly III serve as co-portfolio managers for the firm, with Richard Meisenberg being a partner with 51% ownership of the fund and John Henry Reilly III holding the remaining 49%. ACK Asset Partners LP fund has been a steady performer between 2013 and 2018, generating an impressive 22.72% in 2013, followed by 5.37% returns in 2014, 5.06% in 2015, 5.77% in 2016, and 9.92% in 2017. Its total return was 338.05% for a compound annual return of 12.12%, while its worst drawdown amounted to 16.14% through 2018. As per ACK Asset Management’s plain brochure, it managed around $500 million of client assets on a discretionary basis on December 31, 2016.

Before founding ACK Asset Management, Richard Meisenberg was an analyst for small- and mid-cap stocks at Oppenheimer & Co. and Smith Barney as an analyst in charge of small- and mid-cap stocks, as well as a founding partner of Palisade Capital Management. He holds a B.S. in Marketing from New York University. Before co-founding ACK Asset Management with Richard Meisenberg, John Henry Reilly III was a Managing Director and Senior Equity Analyst at CJS Securities, Inc. He was in charge of forming and controlling financial models for predicting cash flows and earnings of small-cap companies. He earned his B.A. in Economics from Fordham University and was named ‘Home Run Hitter’ by Institutional Investor Magazine in 2002.