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 with no gates, side pockets or liquidity restrictions since August 2000 with Mr. Hoenig as its sole portfolio manager.
 
Our practice includes monthly reports, personal service and Partner-only conference calls.


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 9/1/14

 

AUG 14 JUL 14 JUN 14 MAY 14 APR 14 MAR 14
MONTHLY CHANGE: -2.86% -0.37% -2.33% -2.05% -7.40% -0.48%
YEAR-TO-DATE CHANGE: -24.87% -22.66% -22.37% -20.51% -18.85% -12.36%

 

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 9/1/14


capitalistpig.com

 
Sharpe Ratio: 0.604 | Beta: 0.152 | Current Cash: 15%

*Approximations, please note that positions are subject to change at any time.

Downloads: Fact Sheet


HISTORICAL RETURNS

As of 9/1/14

CP FUND DOW S&P 500 NASDAQ BONDS HEDGE FUND INDEX
SINCE INCEPTION: 299.37% 128.62% 83.77% 38.92% 106.96% 118.25%
2014: -24.87% 4.82% 9.86% 10.57% 4.46% 2.43%
2013: 30.11% 29.63% 32.36% 40.15% -3.37% 8.28%
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 9/1/14

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014: -8.58% -3.68% -0.48% -7.40% -2.05% -2.33% -0.37% -2.86%
2013: 5.30% -0.89% 1.92% 2.58% 7.45% 6.19% -1.38% 4.73% -3.40% -4.89% 3.53% 6.39%
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 ten out of fourteen years, earning a total return of more than 299% net to investors.

— Jonathan Hoenig, Interview in The Objective Standard