Investment Fund
Jonathan Hoenig established Capitalistpig Hedge Fund LLC after leaving the Chicago Board of Trade in 1999, where he worked as a floor trader for his own account. The Fund has operated continuously since August 2000 with Mr. Hoenig as portfolio manager.
APPLY TO INVEST
The Fund is only open to accredited investors with a liquid net worth greater than $1 million. Our current minimum investment is $150,000. New investments are accepted on the first day of each calendar month. If you meet the SEC’s requirements regarding hedge fund investing, apply to become a partner in Capitalistpig Hedge Fund LLC.
Downloads: Letter of Intent | Prospectus | Fact Sheet | Recent Audit
PERFORMANCE
As of 5/1/13
| APR 13 | MAR 13 | FEB 13 | JAN 13 | DEC 12 | NOV 12 | |
| MONTHLY CHANGE: | 2.58% | 1.92% | -0.89% | 5.30% | 2.92% | -4.00% |
| YEAR-TO-DATE CHANGE: | 9.10% | 6.36% | 4.36% | 5.30% |
Fund returns reflect performance after fees. Bond returns calculated using Merrill Lynch Government Master Index. Hedge Fund index calculated from the Barclay Hedge Fund index. There can be no guarantee that any investment objective, including preservation of principal, can be achieved.
Downloads: Fact Sheet
LARGEST POSITIONS*
As of 5/1/13
Beta: 0.16 | Sharpe Ratio: 0.72 | Current Leverage: 48%
*Approximations, please note that positions are subject to change at any time.
Downloads: Fact Sheet
HISTORICAL RETURNS
As of 5/1/13
| CP FUND | DOW | S&P 500 | NASDAQ | BONDS | HEDGE FUND INDEX | |
| SINCE INCEPTION: | 339.56% | 91.90% | 42.45% | -2.26% | 106.89% | 102.71% |
| 2013: | 9.10% | 14.09% | 12.73% | 10.60% | 0.90% | 3.81% |
| 2012: | -1.68% | 10.23% | 14.94% | 17.73% | 2.10% | 4.79% |
| 2011: | -19.19% | 8.33% | 2.08% | -0.79% | 9.19% | -5.02% |
| 2010: | 10.30% | 14.09% | 15.08% | 18.16% | 5.60% | 7.11% |
| 2009: | -1.18% | 22.70% | 26.47% | 45.35% | -2.57% | 18.72% |
| 2008: | -4.40% | -31.92% | -36.99% | -39.97% | 12.78% | -18.30% |
| 2007: | 4.78% | 8.87% | 5.49% | 10.64% | 8.76% | 9.65% |
| 2006: | 8.12% | 19.04% | 15.79% | 10.39% | 3.49% | 11.81% |
| 2005: | 15.55% | 1.71% | 4.91% | 2.12% | 2.65% | 5.90% |
| 2004: | 6.39% | 5.31% | 10.88% | 9.15% | 3.50% | 9.20% |
| 2003: | 58.90% | 28.28% | 28.68% | 50.77% | 2.25% | 14.36% |
| 2002: | 27.66% | -15.01% | -22.10% | -31.23% | 11.56% | 3.00% |
| 2001: | 10.29% | -5.41% | -11.28% | -20.71% | 6.74% | 4.32% |
| 2000: | 56.65% | -4.72% | -9.12% | -39.26% | 13.37% | 4.73% |
Downloads: Fact Sheet
MONTHLY RETURNS
As of 5/1/13
| JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | |
| 2013: | 5.30% | -0.89% | 1.92% | 2.58% | ||||||||
| 2012: | 2.57% | 4.34% | 1.51% | -2.37% | -6.07% | 1.66% | -1.33% | 0.36% | 0.11% | -0.88% | -4.00% | 2.92% |
| 2011: | 0.69% | 2.80% | -8.19% | -0.15% | -1.97% | 0.18% | 4.11% | -7.47% | -8.74% | 2.07% | -1.89% | -1.51% |
| 2010: | 1.21% | 0.66% | 2.69% | -0.28% | -5.45% | -2.74% | 4.26% | -1.23% | 4.91% | 1.75% | -0.13% | 4.74% |
| 2009: | -1.49% | -3.17% | -0.28% | 0.77% | 1.78% | -0.26% | 2.04% | 0.35% | 0.54% | -2.26% | 0.41% | 0.51% |
| 2008: | 1.32% | 1.99% | 2.43% | -1.09% | -0.19% | -0.72% | -0.62% | -4.94% | -1.96% | -2.18% | 0.09% | 1.62% |
| 2007: | 0.74% | 0.25% | 0.30% | 1.32% | 0.78% | -0.60% | -0.28% | -1.14% | 2.97% | 2.56% | -1.89% | -0.22% |
| 2006: | 5.06% | -1.28% | 0.27% | -0.32% | 0.42% | 0.29% | 0.16% | 0.27% | 0.06% | 0.44% | 1.60% | 0.98% |
| 2005: | -3.16% | 6.01% | -5.26% | 1.71% | 4.93% | 6.25% | 6.05% | -3.71% | 3.00% | -2.83% | 1.61% | 0.89% |
| 2004: | 2.81% | -0.01% | 1.54% | -6.95% | -0.68% | -0.41% | -1.10% | 0.20% | 0.85% | 1.71% | 3.71% | 5.05% |
| 2003: | 6.72% | 2.15% | -1.53% | 10.92% | 2.03% | 1.20% | -1.20% | -0.12% | 1.15% | 5.69% | 7.95% | 13.49% |
| 2002: | 4.40% | 7.17% | 3.14% | 7.57% | 12.87% | -6.14% | -5.22% | 0.66% | 0.51% | -1.11% | 1.90% | 0.47% |
| 2001: | -6.77% | 9.04% | 3.39% | -6.03% | 2.06% | 4.01% | 3.61% | 2.26% | -5.76% | -0.57% | -0.84% | 6.88% |
| 2000: | 0.08% | 8.73% | 5.81% | 15.34% | 17.96% |
Downloads: Fact Sheet
The Fund’s goal is absolute return, ideally earning a profit regardless of the condition of the stock market or larger macroeconomic environment. To accomplish this, I use strategies such as buying and selling stocks short, trading options, commodities, currencies, bonds, loans and other instruments. Although there can be no assurance that any investment objective will be achieved, we’ve been profitable nine out of thirteen years, earning a total return of over 333% net to investors.
— Jonathan Hoenig, Interview in The Objective Standard