# Fact Capital

Fact Capital is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2020
- **Assets under management:** $500M – $1B (Altss estimate)
- **Website:** factcap.com

## Regulatory record

- **CRD number:** 307860
- **SEC file number:** 801-126188
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/307860

## About

FACT CAPITAL, L.P. is an SEC-registered investment adviser in NEW YORK, NY, registered since 2022. The firm manages approximately $371 million in regulatory assets. It has 7 employees and 4 investment advisers.

## Sectors

- Technology
- Media & Telecommunications

## People

- Jonathan H. Auerbach — Managing Partner & Chief Investment Officer

## Questions

### How does Fact Capital's approach differ from a typical long-short TMT hedge fund?

Auerbach carries forward a discipline shaped by operating inside a multi-manager platform, where each book must justify its risk allocation through deep single-name work rather than sector-wide bets. Fact Capital's concentrated portfolio and high active share distinguish it from broader TMT sector funds. The firm does not index, does not hedge away most alpha through pair trades, and does not maintain a large roster of sub-scale positions.

### What is Fact Capital's relationship to Hudson Bay Capital?

There is no ongoing institutional relationship. Jonathan Auerbach worked at Hudson Bay Capital for over ten years, managing a TMT-specific portfolio, before leaving in 2020 to establish Fact Capital as an independent entity. The two firms share no ownership, operational, or investment ties.

### Does Fact Capital participate in private market investments?

Fact Capital is a public-markets investor. The firm focuses exclusively on publicly listed companies within technology, media, and telecom. It does not market itself as a crossover or growth-equity fund. There is no public record of the firm making direct private investments or maintaining a side pocket for illiquid assets.

### How concentrated is the Fact Capital portfolio?

Fact Capital runs a concentrated book, though exact position counts are not publicly disclosed. Auerbach's prior track record at Hudson Bay involved similarly concentrated TMT exposure. Allocators considering the firm should assume a high-active-share portfolio with significant single-name conviction, typical of hedge funds operating below $1 billion in assets.

## Related profiles

- [EPFC Capital Partners](https://altss.com/profile/epfc-capital-partners)
- [Buffalo Valley Wealth Plus](https://altss.com/profile/buffalo-valley-wealth-plus)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/fact-capital-lp

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology