HONEYCOMB ASSET MANAGEMENT LP

Thesis

Their strategy involved achieving superior risk-adjusted returns through a combination of long and short positions in publicly traded equity and equity-related securities, as well as corporate debt, loans, commodities, and convertible and preferred securities. The firm's approach was speculative and carried substantial risks. In August 2025, Honeycomb announced a shift, winding down most of its public equities portfolio and returning capital due to market caution, while continuing to manage capital in longer-duration private investments. David Fiszel remains invested alongside clients. The firm has managed significant AUM, peaking at approximately $1.5 billion in 2020, with reported AUM figures varying across different reporting periods. They have also launched several private equity funds, including Honeycomb Ventures VI LP in 2022. The firm operates as an Exempt Reporting Adviser (ERA) with 1-10 employees.