HONEYCOMB ASSET MANAGEMENT LP other names

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Adviser Profile

As of Date:

03/28/2024

Adviser Type:

- Large advisory firm


Number of Employees:

13 -7.14%

of those in investment advisory functions:

5 -16.67%


Registration:

SEC, Approved, 3/25/2016

AUM:

748,252,424 -24.30%

of that, discretionary:

748,252,424 -24.30%

GAV:

748,252,424 -24.30%

Avg Account Size:

124,708,737 -24.30%


SMA’s:

NO

Private Funds:

3

Contact Info

646 xxxxxxx

Websites :
Client Types:

+

Advisory Activities:

+

Compensation Arrangments:

+

Reported AUM

Discretionary
Non-discretionary
2B 2B 1B 1B 819M 546M 273M
2016 2017 2018 2019 2020 2021 2022 2023

Recent News

Honeycomb Asset Management LP Buys Expedia Group Inc, RingCentral Inc, Vimeo Inc, Sells ...
08/24/2021

Related Stocks: UBER, CRNC, EXPE, RNG, VMEO, AMD, FTCH, DT, NUAN, SNOW, IAC, V, MA, NOW,

gurufocus.com

Is Tripadvisor (TRIP) Stock A Buy or Sell?
03/30/2021

You can find articles about an individual hedge fund's trades on numerous financial ... David Fiszel's Honeycomb Asset Management also initiated a $22.8 million position during the quarter.

Yahoo Finance

Is Tripadvisor (TRIP) Stock A Buy or Sell?
03/29/2021

You can find articles about an individual hedge fund’s trades on numerous financial news websites ... invested in the company at the end of the quarter. David Fiszel’s Honeycomb Asset Management also initiated a $22.8 million position during the ...

Insider Monkey

Clear Channel Outdoor Holdings Inc.
03/26/2021

Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. International ...

Barrons

Is Five9 (FIVN) Stock A Buy or Sell?
03/23/2021

David Fiszel's fund, Honeycomb Asset Management, also sold off its stock, about $12 million worth. These bearish behaviors are important to note, as total hedge fund interest stayed the same (this ...

Yahoo Finance


Private Funds Structure

Fund Type Count GAV
Hedge Fund 1 $728,818,255
Private Equity Fund 2 $19,434,169

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Private Funds



Employees




Top Holdings

Stock Ticker Stock Name $ Position % Position $ Change # Change
29260Y109 ENDEAVOR GROUP HLDGS INC $80,682,000 19.00%
30303M102 META PLATFORMS INC $44,245,000 11.00% -35.00% -45.00%
833445109 SNOWFLAKE INC $24,875,000 6.00%
047726302 ATLANTA BRAVES HLDGS INC $19,790,000 5.00% 11.00% 0.00%
023135106 AMAZON COM INC $15,194,000 4.00%
25862V105 DOUBLEVERIFY HLDGS INC $14,712,000 4.00%
538034109 LIVE NATION ENTERTAINMENT IN $18,720,000 4.00%
531229755 LIBERTY MEDIA CORP DEL $14,819,073 4.00% -47.00% -48.00%
722304102 PDD HOLDINGS INC $14,631,000 4.00%
92556H206 PARAMOUNT GLOBAL $14,790,000 4.00%

Brochure Summary

Overview

Advisory Business Advisory Firm Honeycomb Asset Management LP (“Honeycomb” or “Investment Manager”) commenced investment management activities on June 1, 2016. Mr. David Fiszel, the Founder and Chief Investment Officer of Honeycomb, is the principal owner of Honeycomb. Investment Strategies and Types of Investments The investment objective of Honeycomb is to seek superior risk-adjusted returns with a focus on long and short positions in publicly traded equity and equity-related securities (including options, futures, swaps and other derivatives). Honeycomb invests globally across various industries and sectors, including, without limitation, in technology, media, telecommunications and consumer- related investments. While Honeycomb focuses the investment program on equity securities, it may take long or short positions in other assets and financial instruments (including, without limitation, corporate debt, loans, commodities and convertible and preferred securities) based on its assessment of the highest and best use of capital for investors and the availability of market opportunities across the public and private spectrum. Honeycomb has a one-team collaborative approach to conducting research and analysis for both public and private investments. This approach typically includes developing an investment thesis for potential investment opportunities, refining and challenging the underlying assumptions behind the thesis, and initiating and sizing investments in an effort to maximize risk-adjusted returns. As a primary avenue for idea generation, Honeycomb utilizes the investment experience of Mr. David Fiszel and the firm’s team of analysts in seeking to identify market and company-specific trends. Honeycomb believes that many companies have a few key discrete drivers that could significantly impact future value. For long ideas, Honeycomb may seek to identify companies benefitting from value drivers such as, among other things, secular growth trends, best-in-class management teams, misunderstood earnings trajectories, strong industry positioning, recovering margin expansion, or accelerating growth profiles. For short ideas, Honeycomb may seek to identify companies that are hindered by, among other things, secularly declining cash flows, new technologies or products in the marketplace that threaten their businesses, little or no barriers to entry despite significant embedded growth, and inflated multiples due to excessive M&A or other corporate activity. For private investments, Honeycomb focuses on companies it believes offer value creation not generally available in the public markets. Honeycomb endeavors to evaluate the highest and best use of investor capital and to implement a disciplined, patient approach to private company investing. Honeycomb believes its rigorous analytical approach to evaluating public companies is critical in helping it assess the projected trajectory of potential private company investments. Similarly, Honeycomb believes knowledge about private companies and the technologies, products and services they produce better positions itself with respect to public market investing. 5 March 2023 From time to time, in addition to publicly traded securities and certain privately-held securities, Honeycomb may also acquire certain assets or securities which it believes either may not have a readily assessable market value or should be held until the resolution or occurrence of an event or circumstance and which it designates as a special investment in its sole discretion (each, a “Special Investment”). Upon admission to the Funds (as defined below), each investor may elect not to participate in Special Investments. Honeycomb reserves the right to alter or modify the investment strategies of the Funds in light of available investment opportunities or to take advantage of changing market conditions when it concludes that alterations or modifications are consistent with the Funds’ investment objectives. Honeycomb has broad investment discretion and is not subject to limitations with respect to the level of leverage it uses or the portion of the Funds’ portfolio that may be invested in any particular asset, financial instrument, investment, region, industry or sector (including various industries and sectors in addition to technology, media, telecom and consumer). All investments risk the loss of capital. Advisory
Services Honeycomb provides discretionary investment advisory services to clients that have a variety of investment objectives and strategies. Honeycomb's current clients include the following pooled investment vehicles (the “Funds”): Honeycomb Partners LP, a Delaware limited partnership (the “Onshore Feeder”) that invests all of its investable assets in Honeycomb Master Fund LP, an exempted limited partnership organized under the laws of the Cayman Islands (the “Master Fund”); and Honeycomb Offshore Fund Ltd., an exempted company incorporated under the laws of the Cayman Islands (the “Offshore Feeder”) which invests all of its investable assets in Honeycomb Intermediate Fund LP (the “Intermediate Fund”), an exempted limited partnership organized under the laws of the Cayman Islands, which, in turn, also invests all of its investable assets in the Master Fund. As used herein, the term “client” or “clients” refers to one or more of the Funds referenced above as well as associated co-investment vehicles. Honeycomb intends to manage each client based on the investment objectives and restrictions as set out in the relevant client’s offering materials. In addition, for investment structuring, legal, tax, regulatory or other reasons, Honeycomb has created one or more special purpose vehicles through which it makes Fund investments and may create additional such vehicles in the future. Honeycomb Advisors, LLC, a limited liability company organized under the laws of the state of Delaware and controlled by Mr. David Fiszel, serves as the general partner of the Onshore Feeder. Honeycomb Private Advisors, LLC, a limited liability company organized under the laws of Delaware and controlled by Mr. David Fiszel, serves as the General Partner of the co-investment vehicles (Honeycomb Advisors, LLC and Honeycomb Private Advisors, LLC collectively referred to herein as the “General Partner”). Mr. David Fiszel also serves as one of three directors for the Offshore Feeder. A senior member of Honeycomb’s staff serves as an alternate director for the Offshore Feeder. It should be noted that Honeycomb may in the future provide trading advisory or investment management services to separately managed accounts, investment funds, or other investment vehicles for investors interested in investment programs that differ from the ones used by the Funds 6 March 2023 or for investors that do not wish to invest in the pooled investment vehicles referenced above. The investment terms for each such other client would be negotiated by Honeycomb and the relevant parties and may differ from the terms of an investment in the Funds, including with respect to fees, liquidity, information rights, and other terms. As referenced above, Honeycomb managed separate co-investment vehicles during 2022 in addition to the Funds. The co-investment vehicles do not engage in a continuous offering of interests. Lastly, it should be noted that the Funds and/or the co-investment vehicles may issue classes of interests or enter into separate written agreements with certain investors (“Side Letters”), which grant rights that are more favorable or may otherwise differ from the rights attributable to other investors in terms of, among other things, incentive allocation, management fee, withdrawal rights (including different withdrawal dates and notice periods), minimum and additional subscription amounts, information rights, and other rights. The terms and the scope of the offering of such rights (including an offering limited to strategic or other specific categories of investors) will be determined by Honeycomb in its sole discretion. In addition to the foregoing, Honeycomb may also enter into Side Letters to address legal, regulatory, tax or policy issues impacting particular investors and their investment activities. Honeycomb has granted one or more of the rights referenced above (whether through Side Letters, a separate class of shares or otherwise) to a limited number of early investors in the Fund and/or the co-investment vehicles and may do so in the future without disclosure to or receiving consent from existing investors. Regulatory Assets Under Management As of December 31, 2022, Honeycomb has discretionary authority (i.e., the authority to decide which securities to purchase and sell) for all of its clients and has regulatory assets under management of $988,420,946. 7 March 2023