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Hedge Fund Suvretta Slashed Exposure in October

The long-short fund raised cash and lowered its gross exposure amid the October selloff, preventing a big loss from being much worse.

Suvretta Capital Management’s flagship fund lost 7.9 percent in October — but it could have been a lot worse.That’s because the firm brought down the fund’s gross exposure to 60 percent in mid-October from 160 percent at the beginning of the month, according to an investor in the fund. During

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