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Amvona publishes critical articles on Faith, Investing, Economics and Technology. The Finding Alpha category of Amvona profiles investments made, including case studies, economic discussion and explanations of the investment rationales. more at: http://www.amvona.com/about-us
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Lemelson Capital Management, LLC
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  • Lemelson Capital Management Fund Tops BarclayHedge Performance List
    Lemelson-Capital-Management Logo - resized to 220 pxThe Amvona Fund Ranked World's Top Performing Long Bias Equity Fund for August 2014

    Marlborough, Mass., October 2, 2014-Lemelson Capital Management, a private investment management firm, today announced that BarclayHedge, a global leader in fund performance ranking and assessment, has ranked The Amvona Fund as the world's top-performing "long bias" fund for August 2014[1].

    For August 2014, BarclayHedge reports, The Amvona Fund returned 9.7 percent net of all fees and expenses, making it the best-performing long biased fund in the world for the period. Among the top ten funds ranked in this category, The Amvona Fund also ranked as the top-performing on a year-to-date basis, returning 35.14 percent net of all fees and expenses through August 31, 2014.

    Managed by Emmanuel Lemelson, The Amvona Fund has garnered substantial attention in 2014 for several of its long and short activist positions in publicly-traded stocks.

    One of The Amvona Fund's best-performing investments year-to-date has been a short position in Ligand Pharmaceuticals (NASDAQ: LGND), a biopharmaceutical company, which the fund first announced on June 16, 2014. Lemelson Capital Management, the sole sponsor and general partner of The Amvona Fund, released a report (and has since reiterated this position) that Ligand has no intrinsic value and faces a substantial going concern and bankruptcy risk. The Amvona Fund continues to maintain a substantial short position in Ligand.

    The Amvona Fund's leading performance in August 2014 was driven by several long positions that the fund continues to hold, including American Eagle Outfitters (NYSE: AEO), Apple Inc. (NASDAQ: AAPL), Kulicke & Soffa Industries (NASDAQ: KLIC) and World Wrestling Entertainment (NYSE: WWE).

    The Amvona Fund announced a short position in World Wrestling Entertainment (NYSE: WWE) on March 17, 2014. Two months later, on May 16, 2014, the fund announced that it had covered its short position in WWE and adopted a long position in the stock, which it continues to hold. WWE stock appreciated 11.59 percent in August 2014.

    On April 22, 2014, the fund announced a long position in Kulicke & Soffa Industries (NASDAQ: KLIC), a global leader in the design and manufacture of semiconductor and light-emitting diodes (LED) equipment, which it continues to hold. Kulicke & Soffa stock appreciated 6.06 percent in August 2014.

    Also driving The Amvona Fund's top-ranking August 2014 performance was its long position in American Eagle Outfitters, Inc. (NYSE: AEO), which the fund acquired between August 2013 and May 2014 at an average purchase price of $11.66 per share. American Eagle stock appreciated 35.91 percent in August 2014 alone. The Amvona Fund's long position in Apple Inc., which grew 6.63 percent in August, also contributed to its leading performance.

    BarclayHedge's ranking of The Amvona Fund as the top-performing in its category for August 2014 follows multiple other recognitions of the fund's top-ranking performance. On three occasions since The Amvona Fund's September 2012 inception, Barron's, one of the world's leading financial media outlets, has ranked The Amvona Fund among the world's top-performing hedge funds[2]. In July and October 2013, Barron's ranked The Amvona Fund the world's singular top-performing hedge fund. In April 2014, it was ranked the world's second best-performing hedge fund by Barron's. The data and financial intelligence firm Preqin has named[3] The Amvona Fund one of the world's top-performing funds for 2013.

    Disclosure: Lemelson Capital is long shares of AAPL, AEO, KLIC and WWE and short shares of LGND for its clients.

    About Lemelson Capital Management

    Lemelson Capital Management, LLC is a private investment management firm focused on deep value and special situation investments. The firm's flagship fund, The Amvona Fund, has been named repeatedly one of the world's top performing hedge funds. For more information, see: http://www.lemelsoncapital.com.


    [1] BarclayHedge - 2014 Monthly Performance Awards - Equity Long-Bias - Fund Assets Greater Than $10 Million as of Month-end August 2014

    [2] Barron's Hedge Fund Best-Worst-Biggest

    [3] 2014 Preqin Global Hedge Fund Report - Net Returns of Top Performing Event Driven Funds in 2013

    Tags: AEO, LGND, KLIC, AAPL
    Oct 06 1:48 PM | Link | Comment!
  • Lemelson Capital Management Marks Flagship Fund's Second Anniversary

    Lemelson-Capital-Management Logo - resized to 220 pxThe Amvona Fund Records 160% Net Gain since September 2012 Inception, Ranking Repeatedly Among World's Best-Performing Hedge Funds

    Marlborough, Mass., September 5, 2014-Lemelson Capital Management, a private investment management firm, today marked the second anniversary of the launch of its flagship fund, The Amvona Fund, LP which has ranked repeatedly among the world's top performing hedge funds. The firm also today released the overall and net gains for the fund since inception, which were, respectively, 257.74 percent and 160.21 percent. The fund's performance since inception has outperformed the benchmark S&P 500 Total Returns Index by 209.07 percent (111.54 percent net of all fees and expenses).

    In the two years since The Amvona Fund's inception, the fund has been repeatedly named one of the world's top performing hedge funds by both financial research firms and media. In July 2013 and again in October 2013, The Amvona Fund was named the world's single best performing hedge fund by Barron's and the world's second best-performing hedge fund for the entire year[1]. In April 2014, Barron's again named The Amvona Fund among the world's best performing hedge funds. In February 2014, the fund was named among top performing event driven fund's in the world by global research and consultancy firm Preqin and In July 2014, the fund ranked among the top five best performing hedge funds by BarclayHedge[2].

    "The strict application of a deep margin of safety that has been the hallmark of each commitment has led to better than average results. It is only with fidelity to this strict 'value imperative' that outcomes can be consistently above average over the long term, particularly given the great risks associated with a richly valued market," said Emmanuel Lemelson, Chief Investment Officer of Lemelson Capital Management.

    The fund's recent performance was driven in part by its significant short position in Ligand Pharmaceuticals (NASDAQ: LGND), a previous short position in World Wrestling Entertainment (NYSE: WWE), and its current long positions in Kulicke & Soffa Industries (NASDAQ: KLIC), Apple (NASDAQ: AAPL) and World Wrestling Entertainment (NYSE: WWE) amongst others.

    Disclosure: Lemelson Capital is long shares of AAPL, KLIC, WWE and short shares of LGND for its clients.

    About Lemelson Capital Management:

    Lemelson Capital Management, LLC is a private investment management firm focused on deep value and special situation investments. The firm's flagship fund, The Amvona Fund, has been named repeatedly as one of the world's top performing hedge funds. For more information, see: http://www.lemelsoncapital.com.


    [1] Data also compiled by Barron's

    [2] Long-biased league table. Trailing twelve month compound annual return through July

    Sep 05 2:29 PM | Link | Comment!
  • Lemelson Capital Covered In Financial Media, Again – Releases May 2014 Results

    Lemelson-Capital-Management Logo - resized to 220 pxLemelson Capital received further coverage this week inSeekingAlpha market currents, Evestment, Hedge Fund Group (HFG), HedgeCo.net and other mainstream and financial media.

    LCM also released its May 2014 results with a 22.26% (16.29% net) YTD showing against 4.97% for the benchmark S & P 500 Total return index, which includes dividends.

    From inception in September 2012 through May 2014 (21 months) - The Amvona Fund, LP has returned a Compounded Annual Gain of 85.15% (58.51% net) and an Overall Gain of 193.65% (123.90% net).

    Annual and Interim reports are available at www.lemelsoncapital.com

    Discolsure:

    The performance data represents the performance of The Amvona Fund LP (the "Fund"). The net return results reflect the deduction of: (i) a quarterly asset management fee of 0.25%, payable in advance; (ii) a quarterly performance allocation of 25%, subject to a high-water mark and a 6% annualized hurdle rate; and (ii) all other transaction fees and expenses incurred by investors in the Fund. During the time period shown, the Fund used only those investment strategies disclosed in the Fund's Private Placement Memorandum, and there were no material market or economic conditions that affected the results portrayed. Results are compared to the S&P 500 for informational purposes only. The Fund's investment program does not mirror the S&P 500 and the volatility of the Fund's investment program may be materially different from the volatility of the S&P 500. The performance figures include the reinvestment of any dividends and other earnings, as appropriate. Past performance is not necessarily indicative of future results. All investments involve risk, including the potential loss of principal.

    Jun 14 8:52 AM | Link | Comment!
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