IBKR, XOOM hit hedge fund, Ancient Art. Down an estimated 3.8%
Interactive Brokers Group Inc (IBKR) returned -4.6% and Xoom corp (XOOM) returned -11.7% over the previous day. They underperformed the market and their corresponding sector, Financials, which returned -2.5. For Quincy Lee's Ancient Art LP and others with a high-conviction position, it presented a unique source of trouble. Some 38 in the Symmetric Hedge Fund Universe have a position in IBKR. While many have only a minor interest in IBKR, 4 have a high conviction position β a position that is greater than 5% of the publicly disclosed portfolio. Ancient Art Lp holds a high conviction position in IBKR and, unlike the majority of holders in IBKR was disproportionately impacted by the move. Their publicly disclosed long portfolio returned -3.77 over the 1 day period. The table below shows the top 3 positive and negative contributors to Ancient Art Lp's performance.
Top 3 Positive Contributors
TickerSize (% book)1D Stock Move1D Abs Ret. Attr.CACC3.6%%1.2%%0.04%%ONE1.2%%3.3%%0.04%%AAMC0.3%%0%%0%%
Top 3 Negative Contributors
TickerSize (% book)1D Stock Move1D Abs Ret. Attr.IBKR34.1%%-4.6%%-1.57%%XOOM9.3%%-11.8%%-1.09%%NXST9.3%%-3.1%%-0.29%%
. Ancient Art Lp has held a position in IBKR for 11 quarters. The average position size was 15.95% of its publicly disclosed portfolio, and over that period, the stock has returned 229.1%. Use Symmetric to surface managers with unique sources of alpha and flag those that may be in trouble. Companies discussed in this alert: Interactive Brokers Group Inc (IBKR); XOOM Corp (XOOM); Nexstar Broadcasting Group, Inc. (NXST); Altisource Asset Management Corp (AAMC); Higher One Holdings, Inc. (ONE); Credit Acceptance Corp. (CACC).
