Ninth Avenue Capital, LP

Ninth Avenue Capital, LP acts as a discretionary investment manager to private, pooled investment vehicles offered to accredited investors and qualified purchasers, and does not provide individualized advisory services to retail clients. The firm charges customary asset‑based management fees and also receives performance‑based compensation from its funds, as disclosed in its offering documents.

Its investment approach is research‑intensive and grounded in deep fundamental analysis and rigorous valuation, pursuing a long/short equity strategy with emphasis on Consumer, Financial Services, Healthcare, Industrials and Technology sectors. The firm seeks modest, disciplined leverage, monitors factor exposures regularly, aims to keep individual positions liquid (targeting liquidation within 15 trading days), and uses hedging tools such as index derivatives, ETFs and customized baskets while limiting certain short exposures (for example, refraining from shorts with very high short interest as a percentage of free float).

Ninth Avenue discloses several practices that are less common among peer institutional managers: it engages third‑party placement agents to assist in capital raising and also uses endorsements in its advertising, both of which are explicitly addressed in its brochure. The firm also notes occasional use of artificial intelligence to assist analysis, operates via a master‑feeder trading arrangement with trades executed at the master fund level, and maintains a Code of Ethics that restricts employee personal trading and participation in IPOs/ICOs.