ValueWorks LLC is a New York-based, deep value-focused long/short equity hedge fund founded in 2001 by Charles Lemonides. Charles Lemonides is a CFA who previously served as the Chief Investment Officer of Sterling Advisors, an investment advisory unit of Gruntal & Co. ValueWorks LLC currently managed around $210 million, with most of that invested in U.S equities.
ValueWorks has a long bias and registered gains of 23.3% in 2012 and 68.8% in 2013. The deep value hedge fund lost 7.6% in 2014 and 33.1% in 2015. Investors who stuck with ValueWorks after the 33% loss in 2015 were rewarded with a 66.5% gain in 2016 and a 24.2% gain in 2017.