One-man hedge fund Lucida Capital delivers leverage-free 65% return

One Man Hedge Fund has caught the attention of Industry Giants:

(HedgeCo.Net) In an industry that often equates scale with edge—more analysts, more data, more technology, more leverage—Lucida Capital is an uncomfortable counterexample. The Canada-based hedge fund is operated solely by Francis Lau, and yet it posted a 65% gain from April through the end of 2025 without using leverage, putting it among the country’s top performers and ahead of many far larger, better-resourced rivals.  This Bloomberg story mat…

One-man hedge fund Lucida Capital delivers leverage-free 65% return

Francis Lau’s one-man hedge fund, Lucida Capital, posted a 65% gain from April through December 2025, outperforming larger Canadian rivals, by investing – leverage-free – primarily in mid-cap US and Canadian stocks, according to Bloomberg data. The Markham-based firm manages between CAD50 million and CAD100 million, mostly for high-net-worth individuals. Lau, 43, founded Lucida Capital after two decades on Bay Street, most recently at Vantage As…