Hedge Funds Performance

Seminole dips in November, reduces exposure to tech, industrials


Despite a slight dip last month, Michael Messner and Paul Shiverick’s $1.5 billion firm remains up for the year.

Seminole Management Company, which oversees $1.53 billion, dropped in November, with its flagship long/short equity strategy down 1.9%. It remains up for the year, however, posting 8.3% through last month.

The flagship fund, Seminole Capital Partners, was launched in November 1995 and now manages $1.384 billion. The offshore version of the fund was up six basis points in 2008, 16.3% in 2009 and has produced a net annualized return of 19.2% since inception. The firm also manages the $144 million Seminole Small Cap Funds. The firm announced in October that it would close the flagship to new investors