Stevens Capital Management LP (SCM) is a hedge fund manager that operates out of Radnor, Pennsylvania. Through the four investment funds the firm manages, SCM has billions of dollars in assets under management (AUM), with a sizable group of advisory employees on staff.
As Stevens Capital Management is a hedge fund manager, its "client base" is comprised of four pooled investment vehicles, which are the funds it manages. These are the Tewksbury Investment Fund (TIF), Hamilton Fund Ltd. (HFL), the Tewksbury Futures Fund LP (TFFLP) and the Tewksbury Futures Fund Ltd. (TFF).
Stevens Capital Management Background
Stevens Capital Management was founded in 2002 by the firm’s current CEO, Matthew S. Tewksbury. Adams Holdings, LLC, a financial services holding company, owns Stevens Capital Management. Matthew Tewksbury and his family own Adams Holdings, making him the indirect owner of the firm. Employees at SCM hold a variety of certifications, including certified public accountant (CPA) and chartered financial analyst (CFA).
Stevens Capital Management Investment Philosophy
Whereas some firms utilize a standard strategy to govern their investment decisions, Stevens Capital Management is open to a wide range of investments, including both exchange-based securities and privately negotiated transactions. SCM has no preference in regards to the time horizon of these investments, so they may live in the funds’ portfolios for either the long- or short-term.
Stevens Capital Management engages in frequent trading, which is a common practice among hedge fund managers. Because of this, the firm reasonably expects to spend more in transaction costs than other investment firms might. SCM even states in its Form ADV that “transaction costs negatively impact the performance of the funds.”
Largest Hedge Funds Managed by Stevens Capital Management
Tewksbury Investment Fund, Ltd.
AUM: $2,124,920,289
Minimum: $1,000,000
Beneficial Owners: 77
Tewksbury Futures Fund, Ltd.
AUM: $1,186,534,957
Minimum: $1,000,000
Beneficial Owners: 7
Fees at Stevens Capital Management
Stevens Capital Management receives a 2.50% non-negotiable annual management fee for its services. This rate is based on the net asset value (NAV) of each investor’s shares in the Tewksbury Investment Fund. SCM charges this fee at the beginning of every month, in arrears.
Beyond this, SCM is paid what it calls an “incentive fee” that’s based on any increases in cumulative fund appreciation since the previous incentive fees were charged. This fee will be equal to 30% of this additional appreciation.
What to Watch Out For
Based on its Form ADV, Stevens Capital Management does not have any disclosures to its name. Therefore, it has a clean legal and regulatory record in the eyes of the U.S. Securities and Exchange Commission (SEC).
Opening an Account With Stevens Capital Management
If you’re interested in investing in either the Tewksbury Investment Fund or the Hamilton Fund Ltd. that Stevens Capital manages, it would be best to contact the firm directly. If you prefer to speak over the phone, you can reach SCM at (610) 971-5000.
All information is accurate as of the writing of this article.
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