Apis Capital Up 39 Percent In 2020, Gains On Penumbra Short

Apis Capital Flagship Fund commentary for the fourth quarter and the year ended December 31, 2020. Q3 2020 hedge fund letters, conferences and more Dear Partners, Apis Capital Flagship Fund was up 21.6% net in 4Q20. During the past quarter, our longs contributed 34.3% (gross), while our shorts detracted 5.3% (gross). At the end of December, Apis Capital Flagship Fund was approximately 68% net long with the portfolio 101% long and 33% short. Apis Capital Flagship Fund: Performance Overview (Gross Returns)2020 was a year to expect the unexpected and we humbly admit being surprised, not only by t…

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