Obsidian Partners
Concentrated activist book — 6–10 core positions in mid- to large-cap industrials and consumer.
| Quarter | Cum return | Sharpe | vs bench (pp) |
|---|---|---|---|
| 2022 Q1 | 2.5% | 1.31 | -7.67 |
| 2022 Q2 | 7.3% | 1.27 | +4.19 |
| 2022 Q3 | 11.6% | 1.27 | +3.45 |
| 2022 Q4 | 12.6% | 0.93 | -0.94 |
| 2023 Q1 | 15.2% | 1.21 | +2.29 |
| 2023 Q2 | 14.8% | 1.26 | -1.11 |
| 2023 Q3 | 17.8% | 1.32 | +1.25 |
| 2023 Q4 | 23.6% | 0.89 | +4.37 |
Annual liquidity, 90-day notice. 3-year initial hard lock.