Covepoint Capital
Anyone got the skinny on Covepoint Capital? I'll post what I got off the net, but if anyone's got anything else that would be sweet. Mad props to the guys who gave advice on MM Cap, that was pretty helpful.
Looks like they're down the last quarter, but I find these filings hard to read:
SEC filings: http://fundville.com/fund/3259/COVEPOINT-CAPITAL-…
Office location: http://maps.google.com/maps?um=1&ie=UTF-8&q=1325+…
Recent Bloomberg Article: http://www.bloomberg.com/news/2010-10-17/covepoin…
Anyone who's got something deeper than the above would be awesome, it seems that that's about as good as I can dig.
buy side strong side
gsduke ~ What? I don't get it. (Sorry I'm dumb). Are you saying they are strong in the buyside? Well respected?
It's an expression people use, it doesn't mean anything.
You say they're down the last quarter but that can be the other side of the coin that made you think MM was massively up. Funds have inflows and outflows.
Another thing that you seem to have missed is how 13-F statements work. The reporting requirements in a 13-F apply only to equities (and only long positions within equities). A global macro fund will not have all (or even most/any) of its assets invested in equities but rather currencies, commodities, interest rate products, etc. One obvious thing that shoudl have raised your attention is that the Bloomberg article cites their main fund at $785mm (as of 10/17/10) but their 13-F showed only $132mm as of 9/30/10.
Try to make an effort to do some more research on the fundamentals, and to understand what you're reading and asking about.
Another thing to note: always go to the source rather than third-party data sites like fundville. They have Covepoint's 9/30 and 6/30 filings flipped, so the value of their long equity holdings actually INCREASED last quarter ($125.6mm vs $89.7mm).
Also, though 13Fs are flawed, you can do some analysis. For example, if you read the filings you can see that their increase in asset value came two ways: increase in the value of their Brazil, China, Malaysia, and EM Index ETFs (~$16mm) and adding positions in South Korea and Taiwan Index ETFs (~$20mm)
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