- Advertisement -
- Advertisement -

Related

HCP Focus Sells Longest-Held Holding

Industry Report

- Advertisement -

Stockholm (HedgeNordic) – HCP Focus Fund, a long-only equity hedge fund maintaining a concentrated portfolio of 12 companies benefiting from the digital revolution, sold its longest-held holding in the portfolio: Amazon.com. HCP Focus, which advanced 30 percent in the first four months of 2023 to recover some of the 53 percent decline incurred in 2022, had been invested in Amazon since the fund’s inception in late 2012.

“We sold the longest holding ever, Amazon, out of the portfolio. It was in the fund for more than a decade, since the foundation of the fund,” the team at Helsinki Capital Partners writes in an update to investors. “We consider Amazon to have matured as a company and its most attractive growth potential is behind us,” considers portfolio manager Pasi Havia (pictured). “In recent years, regulators have also woken up to the problem of the supremacy of technology companies. This has brought new risks to the largest technology companies, including Amazon,” argues Havia.

“We sold the longest holding ever, Amazon, out of the portfolio. It was in the fund for more than a decade, since the foundation of the fund.”

The team running HCP Focus sold out its investment in Amazon.com during the first quarter and added a new name to the portfolio, UK housing market marketplace Rightmove. “The fund’s new portfolio company is also the superior market leader in its own region. It is considerably smaller than Amazon and has more runway for growth ahead,” says Havia. “Rightmove is by far the UK’s leading housing market platform company. It benefits from network effects and makes a good profit with a high margin.”

Four months into the new year, HCP Focus Fund is the best-performing constituent of the Nordic Hedge Index with an advance of 30.1 percent. The concentrated equity hedge fund has delivered an annualized return of 12.3 percent since launching under the umbrella of Helsinki-based fund boutique Helsinki Capital Partners in December 2012. Last year was the fund’s first down year as technology company valuations came under pressure amid high rising interest rates due to high inflation and the prospect of a global economic downturn.

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at eugene@hedgenordic.com

Latest Articles

Formue Highlights Private Credit’s Role in New Economic Era

Nordic wealth manager Formue has long prided itself on delivering institutional-grade investment solutions to high-net-worth individuals. As global economic conditions shift, Formue sees an important role...

Chelonia Select Builds on Solid 2024

Stock-picking hedge fund Chelonia Select is off to a strong start in 2025 with an 8.3 percent gain through the end of May, building...

CABA Capital Expands the Flex Series

Danish fixed-income boutique CABA Capital has launched the third vintage of its leveraged, closed-end fixed income strategy: CABA Flex3. The fund aims to deliver...

Aegon AM Launches Capital Call Finance Fund

Aegon Asset Management has launched the Aegon Capital Call Finance Fund, providing institutional investors with access to the capital call finance market – a...

Evli’s Co-Investment Strategy: Opening the Door to Direct Private Equity Deals

Co-investing alongside private equity funds has become increasingly important for institutional investors seeking greater control, reduced fees, and selective deal exposure. Once reserved for...

From Loans to Layers: Navigating the CLO Capital Stack

Collateralized Loan Obligations (CLOs) play an important role in credit markets by bridging the capital needs of corporate borrowers with the return objectives of...

Allocator Interviews

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.