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| {{Use mdy dates|date=October 2012}} | |||
| {{infobox company | |||
| |name = Lemelson Capital Management | |||
| |logo = | |||
| |foundation = 2012 | |||
| |location_city = ] | |||
| |location_country= U.S. | |||
| |type = ] | |||
| |industry = ] | |||
| |area_served = Worldwide | |||
| | key_people = ], Chief Investment Officer | |||
| |products = The Amvona Fund, LP | |||
| |aum = | |||
| |num_employees = | |||
| |homepage = http://lemelsoncapital.com/ | |||
| |footnotes = | |||
| |intl = | |||
| }} | |||
| '''Lemelson Capital Management''' is a ]-based global ] firm. The firm is the general partner of the Amvona Fund, LP, a ] that has been ranked repeatedly by '']'' among the world’s top performing hedge funds.<ref name=Evestment>, Retrieved June 6, 2014.</ref><ref name=VWBarrons>, Retrieved June 6, 2014.</ref><ref name=HFG>, Retrieved June 6, 2014.</ref><ref name=Hedge>, Retrieved June 6, 2014</ref><ref name=Author>, Retrieved June 7, 2014.</ref> The company has typically focused on ] and ] investments.<ref <name=ArticlesBy>, Retrieved June 6, 2014.</ref><ref name="Washington 2014">, Retrieved June 6, 2014.</ref><ref name=Strauss>, Retrieved June 6, 2014.</ref><ref name="usatoday.com">, Retrieved June 7, 2014.</ref><ref>Other sources: | |||
| *"Hedge Fund: Best-Worst-Biggest,” ''Barron’s'', April 14, 2014, . | |||
| *”WWE Has Monster Run, But Could It Soon Be Slammed?” by Joel Elconin, Benzinga, April 4, 2014, . | |||
| *“WWE profitable or on the ropes,” by Sarah Barry James, SNL Kagan, April 15, 2014], http://www.snl.com/InteractiveX/Article.aspx?cdid=A-27730687-11817]. | |||
| *"Kulicke & Soffa jumps; activist discloses stake, calls for buyback," Seeking Alpha, April 22, 2014, .</ref> Its activist position in several publicly traded companies has proven influential in impacting share prices.<ref name="Washington 2014"/><ref name="usatoday.com"/><ref name="Kulicke 2014">, Retrieved June 6, 2014.</ref><ref name=James>, Retrieved June 11, 2014.</ref><ref>Other sources: | |||
| *”World Wrestling pummeled four out of five rounds this week,” by Gary Strauss, ''USA Today'', April 11, 2014.. | |||
| *"Amvona Short Call Sends WWE Tumbling,” by Clayton Browne, ValueWalk, April 7, 2014,. | |||
| *”WWE can’t pull out of slide,” Seeking Alpha, April 11, 2014, .</ref> | |||
| ==Investments and activism== | |||
| Lemelson Capital Management attracted significant global media attention in early 2014 following its March 17, 2014 ] on ] (]:WWE). In its short thesis<ref name=Alpha>, Retrieved June 7, 2014.</ref> and again on April 8, 2014,<ref>, Retrieved June 7, 2014.</ref> the firm criticized what it said were deficiencies in the company’s ] team and announced that it was short WWE stock. The report placed ] of WWE shares (which closed that day at $30.37) between $8.25 and $11.88.<ref name=Alpha/> Following release of the Lemelson Capital report, WWE’s stock price plummeted 63.1 percent over eight weeks, closing at $11.27 on May 16, 2014, representing a $1.4 billion loss in the company's ].<ref name="Washington 2014"/><ref name=Strauss/><ref name="usatoday.com"/><ref name=James/><ref>Other sources: | |||
| *”WWE can’t pull out of slide,” Seeking Alpha, April 11, 2014. | |||
| *"World Wrestling Entertainment: Why Investors Should Stay Away," by David Tristan Liu, Seeking Alpha, June 3, 2014. | |||
| *"World Wrestling Entertainment, Inc.: Yum, I Love Eating Crow (WWE), by Michael Ranalli, Seeking Alpha, May 28, 2014. | |||
| *"Amvona Short Call Sends Amvona Tumbling," by Clayton Browne, ValueWalk, April 7, 2014.</ref> | |||
| On May 16, 2014, following the correction, Lemelson Capital called on WWE’s ] to intervene and replace the company’s executive management team, or pursue a sale of the company.<ref>, Retrieved June 7, 2014.</ref><ref name=Management>, Retrieved June 7, 2014.</ref> This followed what Lemelson Capital Management said was "a period of ongoing losses, execution failures and material misstatements."<ref name="Management"/><ref name="McMahon"/><ref>, Retrieval May 18, 2014.</ref><ref>, Retrieved May 18, 2014.</ref><ref>, Retrieved May 18, 2014.</ref> | |||
| Several hours after the firm's announcement, former Louisiana Attorney General Charles Foti announced that his law firm would begin an investigation into whether WWE had violated state or federal securities law.<ref>, Retrieved May 18, 2014.</ref><ref name="WWE">, Retrieved May 22, 2014.</ref><ref>, Retrieved May 22, 2014.</ref><ref>, Retrieved May 22, 2014.</ref><ref>Other sources: | |||
| *"Is Vince McMahon still the right man to lead WWE?" by Sam Moore, Yahoo, May 19, 2014,. | |||
| *"Vince McMahon to be removed from the WWE," by Michael Panter, GiveMeSport, May 19, 2014. | |||
| *"WWE stands to lose $45-$52 million in 2014: Investors to question Vince McMahon health on Monday?" by Jack Jorgensen, Fansided, ''Sports Illustrated'', May 19, 2014. | |||
| *"Biggest takeaways from WWE's May 19 business outlook investor call," by Chris Mueller, Bleacher Report, May 19, 2014.</ref> The firm simultaneously announced that it had covered its short position and taken a stake in the company at the substantially lower price.<ref name=Management>, Retrieved June 7, 2014.</ref><ref name=McMahon>, Retrieved June 7, 2014.</ref> | |||
| On April 22, 2014, Lemelson Capital again attracted global media attention when it announced that it had been acquiring the stock of ] (]:KLIC) and issued an open letter to the company’s ] calling on the company to initiate a ] for the shares, which Lemelson Capital said were substantially ].<ref>, Retrieved June 7, 2014</ref><ref>, Retrieved June 7, 2014.</ref> The stock surged ten percent on the announcement of Lemelson Capital’s involvement.<ref name="usatoday.com"/><ref name="Kulicke 2014"/><ref>, Retrieved June 7, 2014.</ref><ref>, Retrieved June 7, 2014.</ref> | |||
| ==Fund performance== | |||
| Throughout 2013 and early 2014, The Amvona Fund was cited three times as one of the world’s top performing hedge funds by ''Barron’s''. In July 2013 and October 2013, ''Barron’s'' named the Amvona Fund the best performing hedge fund in the world.<ref name=Evestment>, Retrieved June 7, 2014.</ref><ref name=VWBarrons/><ref name=HFG/><ref name=Hedge>, Retrieved June 7, 2014</ref><ref name=Author/> In April 2014, ''Barron’s'' listed The Amvona Fund as the world’s second best performing hedge fund. From its September 2012 inception through May 2014, the fund has returned a compounded annual gain of 85.15 percent and an overall gain of 193.65 percent.<ref name=Evestment/><ref name=Author/><ref>, Retrieved June 11, 2014.</ref><ref>Other sources: | |||
| *"Lemelson Capital Management Again Ranks Among World's Top Performing Hedge Funds," HedgeCo.net, March 28, 2014. | |||
| *"The Amvona Fund Up 22% in May After 17% Gain in April," by VW Staff, ValueWalk, June 5, 2014. | |||
| *"WWE wrestling fans should get to know Rev. Fr. Emmanuel Lemelson," by Dan Marsiglia, Rant Sports, May 21, 2014.</ref> | |||
| ==Management== | |||
| Since its inception, Lemelson Capital has been managed by its ], Father ], a ] priest, philanthropist and activist.<ref name=Lantern>, Retrieved June 7, 2014.</ref><ref name="seekingalpha.com">, Retrieved June 7, 2014.</ref><ref>, Retrieved June 7, 2014.</ref><ref>, Retrieved April 24, 2014.</ref><ref name=Case>, Retrieved April 24, 2014.</ref> The firm is based in ], ].<ref>, Retrieved June 7, 2014.</ref> | |||
| ==References== | |||
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