HedgeNordic

Low Net Exposure Offers Little Shelter for Colosseum

Colosseum Global Alpha entered 2026 with a modest 12% net exposure, a level that usually limits market sensitivity. In January the fund slumped 14.2%, driven primarily by short positions that were caught in extreme price swings. Shares of SanDisk and SAAB surged 143% and 24% respectively, eroding short‑side gains, while a sharp rise in the Swedish krona added currency headwinds. The managers note that the strategy’s blend of systematic signals and human discretion struggled amid the month’s unprecedented dispersion.