December 2024 Recap

At OWL, we track publicly disclosed equity positions of leading fund managers across more than 60 countries. OWL users can track daily performance estimates, risk and return metrics, exposure changes, and more for thousands of managers on our platform.

We also have “OWL Groups” – curated lists of over 500 managers frequently found in leading allocators’ portfolios. These lists are categorized by geography, sector, and style, enabling our users to monitor groups of managers and their underlying disclosed holdings directly on the OWL platform. The table below shows how the publicly disclosed equity holdings of these groups performed during December. 

December’s sell-off led to only one OWL manager group, China-focused managers, posting positive returns of their disclosed longs. Every other OWL group was down, with Biotech, Brazil, and Energy-focused managers faring the worst.

Performance for several of the managers whose positions outperformed was driven by concentration in their largest disclosed holding, including Keywise (Palantir), Atreides (Astera Labs), and Crescent Park (Broadcom). Several of the managers whose positions underperformed had significant exposure to Revolution Medicines’ 25% decline in December, including Nextech, Paradigm Biocapital, and Casdin.

A more detailed version of this newsletter is sent to OWL customers, including more detail on individual managers’ performance in December. If you’d like more info, reach out for a demo!

Other News & Events

• Hamilton College returned 9% for FY 24

• Ted Seides’ Capital Allocators 2024 review

• Third Point to acquire AS Birch Grove for $8 billion

• Article from Cliff Asness imagining allocators looking back in 2035

• Memorial Sloan Kettering is hiring a Managing Director of VC

• NYU is hiring a Managing Director of investments

• Partners Capital is hiring a Venture Capital investor

• Texas Municipal Retirement is hiring a Managing Director of Real Assets

About Old Well Labs

OWL is an intelligence platform built for allocators, by allocators. Leading endowments, foundations, and family offices use the system to find, monitor, and connect with thousands of fund managers globally. OWL's analytics engine has collected over one billion data points from 65 countries. We make it easy for allocators to find and track information about the managers they care about – not just positions but also performance analytics, people data, business information, and details about the manager investments of other allocators.

Disclaimers

Returns represent the return on invested capital of publicly disclosed long positions, as calculated by OWL. Actual returns may vary based on a number of factors, including (but not limited to) undisclosed positions, short exposure, non-equity holdings, cash holdings, and lagged disclosure of positions.

This newsletter and the material on the Old Well Labs platform are for informational purposes only and should not be considered investment advice or a recommendation of any particular security, manager, or strategy. Old Well Labs shall not be liable for any investment gain or loss that may occur from the use of this material. No part of this material may be reproduced in any form or used in any publication without express written permission from Old Well Labs.