Archive · 2 Aug 2025
Honeycomb Asset Management to Return Client Cash Amid Market Highs
David Fiszel's Honeycomb hedge fund is giving money back to its clients.
This is because Fiszel thinks the stock market is too high right now and is not sure about the future.
The fund had a good year with some gains, but Fiszel wants to be careful with the money.
The firm will still manage some investments in private companies, and Fiszel will continue to invest alongside his clients.
This is not a sign of quitting but a decision to invest only when opportunities are clear.
Honeycomb Asset Management, founded by David Fiszel, is returning client cash.
Fiszel cited a lack of optimism due to recent market highs as the reason for returning capital.
The firm managed over $552 million, including leverage, as of December.
Honeycomb had 'modestly positive' performance this year after two years of 18% gains.
The firm will continue to manage client cash in longer-duration private positions.
- Who
- David Fiszel, founder of Honeycomb Asset Management.
- What
- Honeycomb Asset Management is returning client cash.
- When
- Investor capital is expected to be returned mostly in September.
- Where
- N/A
- Why
- Fiszel cited lack of optimism in current market conditions.
- Firm
- Honeycomb Asset Management
- Founder
- David Fiszel
- Managed Assets (Dec)
- $552 million (including leverage)
- Performance This Year
- Modestly positive
- Past Gains
- 18% gains for two consecutive years
- Capital Return Date
- Expected in September