Western Razor David Angelo Fund Overview
Western Razor is a long-short equity hedge fund managed by David Angelo. The fund focuses on concentrated, high-conviction positions in U.S. small- and mid-cap equities, using fundamental research and activist-style engagement to drive returns. David Angelo founded the fund after a career in investment banking and equity research, building Western Razor as a platform for deep-dive, sector-focused investing. The fund operates with a low turnover, concentrated portfolio style, targeting asymmetric upside from mispriced companies where management or corporate actions can catalyze re-rating.
The fund is structured as a private investment fund and files Form 13F holdings with the U.S. Securities and Exchange Commission, providing public visibility into its quarterly equity positions. Western Razor manages a relatively small asset base, allowing the team to take larger positions in individual names and maintain flexibility to adjust exposure across sectors. David Angelo personally leads investment decisions, with a focus on companies where the fund sees a clear gap between current valuation and intrinsic value based on earnings power, balance sheet strength, and operational catalysts.
Western Razor David Angelo Portfolio and Holdings
Western Razor's portfolio is concentrated in a small number of positions, with the fund's largest holdings often reflecting David Angelo's high-conviction ideas. The fund has historically held positions in consumer, industrials, and select technology names, favoring businesses with strong free cash flow generation and disciplined capital allocation. Recent 13F filings show that the fund maintains a focused portfolio, with each position sized to reflect the fund's view on the risk-reward profile of the underlying business.
The fund's top holdings typically include names where Western Razor sees a margin of safety relative to current market pricing, often in companies undergoing operational improvement or strategic repositioning. David Angelo's approach emphasizes direct engagement with company management, board-level dialogue, and participation in shareholder votes when the fund views alignment with its investment thesis. The fund's concentrated structure means that each position can have a meaningful impact on overall performance, and the team prioritizes businesses where catalysts such as earnings inflection, margin expansion, or strategic transactions are identifiable within a multi-year horizon.
David Angelo Background and Western Razor Investment Process
David Angelo brings experience from prior roles in investment banking and equity research before launching Western Razor. His career background includes work at firms involved in capital markets, M&A advisory, and equity research coverage, providing a foundation for the fund's bottom-up, research-intensive process. The fund's investment process centers on deep fundamental analysis, with a focus on understanding business models, competitive dynamics, and management quality at the individual company level.
Western Razor's process combines long and short positions, with the fund taking short positions in companies where David Angelo identifies deteriorating fundamentals, overvaluation, or governance concerns. The fund's track record reflects a disciplined approach to risk management, with position sizing and portfolio construction designed to protect capital during periods of market stress. David Angelo's focus on small- and mid-cap names allows the fund to exploit inefficiencies in less-followed corners of the market, and the fund's public filings provide investors with transparency into its strategy and holdings.