The Hedge Fund Live portfolio closed the day down 12 basis points outperforming the S&P 500 which was down 37 basis points but underperformed the Russell 200 which closed the day up 11 basis points. The winners in the book were ATHN, futures, FXE, BKS, and WHR. ATHN was down 3.72% today and was our biggest winner generating three basis points of PNL. ATHN is a newly initiated short position that we started to put on yesterday. The S&P futures closed the day flat but were traded well intra-day generating some alpha for the firm. The FXE got killed of the killed off the open before grinding higher and closing the day down 86 basis points. BKS was up 1.97% as the buyers stepped in a bought stock heading into the weekend in hopes of a take out. WHR was down 56 basis points closing at 77.58.
The losers were XIDE, CBS, MA, and ATI. XIDE continues to show weakness closing the day down 3.11% at 4.67. CBS was down 1.16% and MA was down 1.85% on no direct news. Last is ATI which should weakness today closing down 2.85% at 43.70. We took about 20% of gross exposure down today as we start to get smaller towards the end of the month. There is still much uncertainty in the market so we enter the weekend with no net exposure.
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