November 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 November. For the second month in a row, Growth, Financials, and Tech-focused managers saw their disclosed longs perform the best of any OWL group. International managers continued to underperform, with Brazil, China, and Europe-focused funds faring the worst.

One of the biggest drivers of performance in November was exposure to AppLovin. Seven of the ten best-performing managers in OWL held AppLovin as their top disclosed position, capturing a nearly 100% increase in the stock price during November. These managers include Greenstone, Spruce House, Hiddenite, Keenan, Spyglass, Metavasi, and Jericho. OWL users can see more detail on each of these managers’ (and thousands of others) positions, including daily return estimates. If you want more info, please reach out.

Other News & Events

• Colossus podcast with Ribbit Founder Micky Malka

• Capital Allocators podcast on asset management consolidation

• Rockefeller’s endowment is selling private credit exposure

• Blackrock acquired private credit manager HPS for $12 billion

• RTW Probed by SEC Over Role in Masimo Proxy Fight

• Article on Baupost & Elliott investments in Energy PE continuation funds

• Article noting 80%+ of LPs are wary of sports investments

• The University of Florida Foundation returned 7.2% in FY24

• Partners Capital is hiring an Investment Principal

• Seattle Children's is hiring an Investment Manager

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.