MARLBOROUGH, Mass.,
Jan. 18, 2017 /PRNewswire/ --
Lemelson Capital Management, LLC, a private investment management
firm, today announced performance results for its flagship Amvona
Fund, LP.
For 2016, The Amvona Fund returned 84.97 percent net of all fees
and expenses, beating by 73 percent the benchmark S&P 500 Total
Return Index[1], which returned 11.96 percent during this
period. Since its September
2012 inception, The Amvona Fund, LP, has returned a
compounded annualized rate or return of 23.81 percent net of all
fees and expenses compared to 13.73 percent for the benchmark
S&P 500 Total Return Index.
A few highlights for the firm and fund in 2016 include:
- Management increased its stake in Geospace Technologies, Inc.
(NASDAQ: GEOS) from 5.55 percent of shares outstanding at year end
2015 to 9 percent at the close of 2016.
- Management substantially increased its short position in
Domino's Pizza, Inc. (NYSE: DPZ). As of year-end 2016, Domino's is
the largest short position in the fund.
- In December 2016, management
issued a research report to the U.S. Senate Special Committee on
Aging and the U.S. Food and Drug Administration (FDA) on abuse of
federal regulations and statutes by Ligand Pharmaceuticals, Inc.
(NASDAQ: LGND), a U.S.-based pharmaceutical company. In
January 2016, the firm filed a
whistleblower report with the U.S. Securities and Exchange
Commission (SEC) on Ligand's fraudulent accounting practices.
Lemelson Capital's letter to the U.S. Senate Special Committee on
Aging can be read here
"While the performance of The Amvona Fund, LP, in 2016 was
exceptional, investors should not expect this sort of return in the
future," said Fr. Emmanuel Lemelson,
Chief Investment Officer of Lemelson Capital Management.
"Management's focus will remain on uncovering substantial
price-value dislocations to continue to deliver a favorable
compounded annualized rate of return to the partnership over the
long run."
Further information, including an important notice and
disclaimer regarding the fund's performance and this release, can
be read here
About Lemelson Capital Management
Lemelson Capital Management, LLC, is a private investment
management firm focused on deep value and special situation
investments. Its flagship fund, The Amvona Fund, LP, has been
named repeatedly among the world's top performing hedge funds since
its September 2012 inception.
To see performance results by year, and read The Amvona Fund's
annual and interim reports, visit
www.lemelsoncapital.com
[1] The S&P 500 Total Return Index includes the reinvestment
of dividends
For further information, please contact:
Media and Public Relations
Lemelson Capital Management, LLC
Telephone: 508-630-2281
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SOURCE Lemelson Capital Management, LLC